New Orleans CityBusiness articles from August 2003

New Orleans CityBusiness archives from August 2003

Interest rate increase may lead to slowdown in real estate purchases.
August 4, 2003... Byline: Deon Roberts Almost two months after mortgage rates bottomed out at historic lows, real estate prices are still holding steady.Homeowner interest in refinancing is beginning to taper off, though, because the bump in mortgage rates...

Bywater Hospital physicians to create doctor-owned community infirmary.
August 4, 2003... Byline: Elisabeth Butler After working 20 years for out-of-state investors, physicians at Bywater Hospital intend to recreate the former St. Claude Medical Center as a doctor-owned community infirmary."People who have a sincere interest in...

U.S. companies struggle to comply with international labor laws.
August 4, 2003... Byline: Ellen Boyer Stressed-out workers in Holland receive more than just a prescription for a massage and hot tea from their doctor. Doctors could prescribe taking a year off work. And your company will still have to pay 70% of your...

Commentary: Think about solving U.S. problems before spending cash overseas.
August 4, 2003... Byline: Mark Singletary A lot of whining is coming from Washington, D.C., these days.There is whining about our huge federal budget deficit, which continues to spiral out of control. There is whining about taxes being too high. Believe it...

Free-trade zone could crater La. sugar industry.
August 4, 2003... Byline: Ellen Boyer Brewing in the background of the recently completed sixth round of Central American Free Trade Agreement talks is what could be the granddaddy of all trade agreements: The Free Trade Area of the Americas.It has...

Home equity loans, credit remain bargains.
August 4, 2003... Byline: Keith Pandolfi Even though mortgage rates are rising fast, equity products are still a bargain. Interest rates for home equity loans and lines of credit remain at historic lows - a fact many consumers are unaware of, said O. Bruce...

Funds dry up for tri-parish flood control improvements.
August 4, 2003... Byline: Deon Roberts Major flood protection work in the New Orleans region is being threatened by diminished federal funding.Canal and pumping station improvements included in the 7-year-old, $705 million Southeast Louisiana Urban Flood...

Court ruling releases 9 companies from dated union contracts.
August 4, 2003... Byline: Elisabeth Butler Leaders in the city's convention services industry say a recent court ruling will make New Orleans a more attractive tradeshow destination. On July 8, the District of Columbia Court of Appeals supported nine...

Port bond sale buoys plan for $29M terminal for cruise ship.
August 4, 2003... Byline: Elisabeth Butler Officials from the Port of New Orleans came home with full pockets last week after selling bonds worth $34 million.The estimated $29 million in proceeds of the sale will finance construction of a new cruise...

Retailers vie for piece of federal tax rebate cash.
August 4, 2003... Byline: Ellen Boyer Michelle Boudreaux of Houma is among 25 million Americans awaiting a Child Tax Credit check from Uncle Sam.Retailers are hoping to get a chunk of Boudreaux's change. But the 27-year-old Boudreaux plans to invest in a...

Strong trading operations cushion Entergy Corp. earnings fall.
August 4, 2003... Byline: Amber Bethel Entergy-Koch Trading saved Entergy Corp. from feeling the heat of a cool summer.The utility reported second-quarter net income dropped more than 14% from the same time last year, but trading operations limited the...

Chemical company layoffs blamed on natural gas price swings.
August 4, 2003... Byline: Amber Bethel Louisiana chemical companies are blaming a wave of layoffs on high natural gas prices.The price of the commodity has fallen significantly this month, but companies say months of high prices have already punished...

Nonprofit leaders gain training through N.O. internship program.
August 4, 2003... Byline: Keith Pandolfi One mark of a good corporate leader is a strong commitment to the community. One of the best ways to display commitment is by serving on the board of a nonprofit organization.But just because a person is a wiz in the...

Interview with Orleans School Board consultant.
August 4, 2003... Byline: Deon Roberts He's the man who uncovered the money trail. Stuart Piltch is the Orleans Parish School Board consultant whose firm found the district was missing $27 million in overpayments to insurance companies, unnecessary pay...

Government officials lower goals for smallpox vaccinations.
August 4, 2003... Byline: Megan Kamerick Smallpox, a deadly disease eradicated by 1980, was hot news again seven months ago. The federal government's initial goal was to immunize 450,000 people in preparation for a bioterrorism threat. Health care workers...

Commentary: Sugarcoating murder rate does disservice to us all.
August 4, 2003... Byline: Terry O'Connor The rate at which New Orleanians are killing each other this year is cause for serious alarm. There is no more important issue facing us today than putting a stop to this violence.City Business Associate Editor...

N.O. Regional Chamber of Commerce to hold Business Network 2003.
August 4, 2003... Byline: Staff The Greater New Orleans Regional Chamber of Commerce will hold its Business Network 2003, Taking it to the Next Level trade show Thursday at Kenner's Pontchartrain Center, 4545 Williams Blvd. Up to 80 Chamber members and...

U.S. House passes bill to aid shrimpers.
August 4, 2003... Byline: Staff The U.S. House of Representatives passed a new appropriations bill requiring the U.S. State Department to crack down on foreign shrimp suppliers who fail to use "turtle excluder devices."American shrimpers are required to use...

La. governor's race posted on Internet.
August 4, 2003... Byline: Staff The Council for a Better Louisiana, a statewide, nonpartisan organization, has set up a Web site at www.cabl.org designed to educate voters on the issues before the Oct. 4 primary election and the Nov. 15 runoff. It includes...

La. Dept. of Justice aims to recruit N.O. clergy in fighting domestic violence.
August 4, 2003... Byline: Staff A new training program from the state Department of Justice aims to recruit New Orleans clergy in fighting domestic violence. "We kept meeting so many faith-based leaders who wanted training about domestic violence," said R....

Game show, Jeopardy, seeks contestants from N.O. area.
August 4, 2003... Byline: Staff The game show Jeopardy is once again counting on New Orleans to spice up its contestant pool. "We do very well in New Orleans. It's one of our better cities. It such an unusual mix of people and the accents are always fun for...

Haunted History Tours employee petitions to impeach N.O. Councilwoman.
August 4, 2003... Byline: Staff District C Councilwoman Jacquelyn Brechtel Clarkson is being impeached - maybe.After Clarkson's July ordinance reduced the size of walking tour groups to 28 people per group and placed other restrictions on the tours, Haunted...

Whole Foods Market to open La. stores in Metairie, Baton Rouge.
August 4, 2003... Byline: Staff Whole Foods Market of Austin, Texas, plans to open Louisiana stores in Metairie and Baton Rouge. The gourmet food store has not released details about the Metairie location. The Baton Rouge store, a 45,000-square-foot anchor...

Tidewater Inc. declares quarterly dividend of 15 cents per share.
August 4, 2003... Byline: Staff Tidewater Inc. of New Orleans has declared a quarterly dividend of 15 cents per share on Tidewater's approximately 56 million shares of outstanding common stock. The dividend is payable Aug. 21 to shareholders of record on...

The New Orleans Hornets to open 2003 season with home game.
August 4, 2003... Byline: Staff The New Orleans Hornets will open their 2003 season with an Oct. 29 home game against the Atlanta Hawks. All 2003 home games will tip off at 7 p.m., with the exception of a Nov. 15 game against the Portland Trail Blazers at...

American Airlines adding nonstop service between N.O., Boston.
August 4, 2003... Byline: Staff Louis Armstrong New Orleans International Airport reported American Airlines has begun offering nonstop service between New Orleans and Boston. The airline will offer one daily departing and one arriving flight. American...

Cut-a-thon to benefit children suffering from alopecia areata.
August 4, 2003... Byline: Staff We've all had bad hair days, but children suffering from alopecia areata have no-hair days. Unless they can find a wig that can handle a child's lifestyle, the autoimmune skin disease causes the loss of all body hair. It...

Ripley's Believe It or Not Museum to open new French Quarter museum.
August 4, 2003... Byline: Staff After a 12-year absence in New Orleans, Ripley's Believe it Or Not Museum will open its new French Quarter museum in the Jax Brewery building at 620 Decatur St. in early August. The museum will occupy the space of Planet...

Hibernia National Bank appoints chief investment officer, president.
August 4, 2003... Byline: Staff Hibernia National Bank appointed Richard Chauvin Jr. chief investment officer and president of Hibernia Asset Management, a department of the bank's Private Client Group. Chauvin joined Hibernia in 2001 as a portfolio...

Pacific-Gulf Marine Inc. to receive safety award.
August 4, 2003... Byline: Staff Pacific-Gulf Marine Inc. of New Orleans will receive the 2003 American Maritime Safety's "Safe Navigation & Operation Award" for successful corporate training and educational programs, which protect the maritime environment...

Second adult education center opens in Metro N.O. area.
August 4, 2003... Byline: Staff The New Orleans Workforce Partnership and the Office of Economic Development opened the metro area's second adult education center, the New Orleans East Career Center, 10001 Lake Forest Blvd. NOWP, a federally funded program,...

U.S. Dept. of Justice to give Atty. General's Award to La. prosecution team.
August 4, 2003... Byline: Staff The U.S. Department of Justice will give the Attorney General's Award to prosecution team members who obtained convictions of former Louisiana Gov. Edwin Edwards, and his son, Stephen Edwards, as well as Andrew Martin, Cecil...

Lord & Taylor to vacate spot in New Orleans Centre.
August 4, 2003... Byline: Staff Lord & Taylor will vacate its spot in the New Orleans Centre. May Department Stores Co. of St. Louis, which operates Lord & Taylor, intends to divest 32 Lord & Taylor stores as part of its repositioning to an upscale fashion...

Northrop Grumman Corp. reports income of $207M.
August 4, 2003... Byline: Staff Northrop Grumman Corp. reported income from continuing operations of $207 million, or $1.09 per share, compared with $181 million, or $1.52 per share, for the same period of 2002. Second-quarter 2003 earnings per share are...

Boyd Gaming Corp. reports 19% drop in operating income.
August 4, 2003... Byline: Staff Boyd Gaming Corp. of Las Vegas reported second-quarter operating income fell 19% at Treasure Chest Casino riverboat in Kenner. Second-quarter earnings before interest, taxes, depreciation and amortization were $4.7 million...

School system's missing $27M spurs business to offer help.
August 11, 2003... Byline: Deon Roberts After discovering $27 million missing from the New Orleans Public School System's books, officials said steps have been taken to "plug up the holes" and prevent the financial catastrophe from happening again.Others are...

Finishing I-49 is important part of establishing trade with Canada.
August 11, 2003... Byline: Deon Roberts Piece by piece, the New Orleans region has been connecting to Canada - but don't start planning that road trip just yet.Interstate 49 could one day provide a direct international trade route from the Big Easy straight...

Entergy mulls pulling back from buying Perryville plant.
August 11, 2003... Byline: Amber Bethel If Cleco Corp. doesn't settle issues with a bankrupt partner by the end of the year, Entergy Corp. may choose not to acquire Cleco's Perryville Power Station after all. J. Wayne Leonard, Entergy Corp. chief executive...

Discount brokers market homes, leave most details to the owners.
August 11, 2003... Byline: Michael Giusti When Albert Carey learned there was a cheaper way to sell his French Quarter home, he jumped at the opportunity. "It just seemed too good to be true," Carey said. "Within a few days of signing I had lots of people...

Southwest's profits cruise, other carriers hit turbulence.
August 11, 2003... Byline: Ellen Boyer Southwest Airlines, the largest and most successful carrier at Louis Armstrong New Orleans International Airport, continues to increase earnings. Southwest is the only airline to do so continually since the Sept. 11...

Hotel execs worry casino will flood market.
August 11, 2003... Byline: Elisabeth Butler Hotel insiders worry that if Harrah's New Orleans Casino builds its own hotel, no one will draw a full house.Last week, the company unveiled plans to build a 450-room hotel near its downtown casino. If every room...

La. angles for fairer cut of oil royalties in Energy Bill.
August 11, 2003... Byline: Amber Bethel A Senate energy bill that could mean more than $200 million annually for Louisiana coastal restoration is one step closer to becoming law, but restoration groups aren't counting on the money just yet. The bill, which...

Slidell Memorial asks employees to reject labor union.
August 11, 2003... Byline: Elisabeth Butler Slidell Memorial Hospital administrators worry the union slogan "Stronger Together" will soon appear on the lips of their employees. Hospital officials last week mailed a letter to employees regarding union...

CBD historic district expansion would protect 40% more area.
August 11, 2003... Byline: Deon Roberts Preservationists and businesspeople want a thicker layer of protection over more than 100 buildings and other historic structures in the Central Business District.A proposed annexation would expand the Lafayette Square...

La. transportation department buckles down on safety funding.
August 11, 2003... Byline: Ellen Boyer A proposed federal transportation program could generate an additional $57 million for Louisiana's roadways. The money could help pay for safety programs, including seat belt promotion, drunk driving prevention and...

New Orleans Hospitality Briefs August 11, 2003.
August 11, 2003... Byline: Keith Pandolfi The building that once housed the Downtown Joy Theatre at 1200 Canal St. may be due for a sequel.Christian Wagner, a New Orleans-based video producer, wants to turn the movie theater, which closed in January, into a...

New Orleans Nonprofit Briefs August 11, 2003.
August 11, 2003... Byline: Keith Pandolfi Gretna Mayor Ronnie Harris has been named president of the Louisiana Municipal Association. The nonprofit, established in 1926, represents Louisiana's 302 municipalities on issues that affect municipal employees such...

Torch Offshore officials excited about their newly-purchased deepwater pipe-laying vessel.
August 11, 2003... Byline: Amber Bethel Torch Offshore Inc. expects the Midnight Wrangler to help the company sparkle in the deepwater of the Gulf of Mexico.The Torch Offshore service vessel left the port of New Orleans last week on its first deepwater...

Interview with former exec. director of French Quarter Festivals Inc.
August 11, 2003... Byline: Elisabeth Butler After 19 years as the executive director of French Quarter Festivals Inc., Sandra Dartus walked away last week from her final festival with the nonprofit organization.The company presents three annual events,...

Commentary: Fighting N.O. crime wave takes an unusual approach.
August 11, 2003... Byline: Terry O'Connor It was gratifying to watch Mayor C. Ray Nagin unfurl a seven-point plan to fight crime last week. The emphasis is needed given our soaring murder rates. CityBusiness called for such a move in an editorial published...

Commentary: No one eats Louisiana's lunch when it comes to eating meetings.
August 11, 2003... Byline: Terry O'Connor In Louisiana, the business lunch is alive and thriving. We love to take time to talk face-to-face. We have more fabulous places to eat than any other state. These factors combine to create a business lunch that helps...

Commentary: Tax code becoming too complex.
August 11, 2003... Byline: Mark Singletary If you filed an extension for your federal income tax return last spring, the return is due to the Internal Revenue Service this Friday. It's important to remember the extension allows extra time only to file the...

Mortgage rate surge continues higher.
August 11, 2003... Byline: Staff When it comes to Americans' chances for grabbing hold of bargain basement-style mortgage rates, it appears the fat lady has sung.For the first time in three years, mortgage rates are higher than they were during the same time...

Society of N.O. Service and Hospitality Industry Professions to raise money for nonprofits.
August 11, 2003... Byline: Staff Victor Dinh, a sales manager for the Hotel Intercontinental New Orleans, wants to bring waiters and hotel executives together for charity. So he founded the Society of New Orleans Service and Hospitality Industry Professions....

Boogie Bus rolls through New Orleans.
August 11, 2003... Byline: Staff The cool kids may have ruled the back of the schoolbus. Now, anyone can rule the whole thing on Boogie Bus, a zebra-striped, refurbished schoolbus seen boogieing around town. New Orleans native Andre Bruni, a dentist trying...

Solar Splash triumph recorded by UNO again.
August 11, 2003... Byline: Staff The University of New Orleans sailed to first place again at Northrop Grumman Ship Systems Avondale Operations Solar Splash 2003.Held in Buffalo, N.Y., Solar Splash is an annual intercollegiate engineering competition. By...

New hotel settles into its art niche.
August 11, 2003... Byline: Staff Workers will finish buffing the floors this week in the Marriott Renaissance Arts Hotel, which opens Aug. 18 for business in the Warehouse District at 700 Tchoupitoulas St.The 217-room hotel features a collection of original...

Tulane receives $1.04M research grant.
August 11, 2003... Byline: Staff Tulane University researcher and pediatric nephrologist Samir El-Dahr has been awarded nearly $1.04 million from the National Institutes of Health for research into kidney development as a fetus grows in the womb. The...

Mayor Nagin announces crime-fighting plan.
August 11, 2003... Byline: Staff Mayor C. Ray Nagin has revealed a seven-point plan to curtail crime and improve the accountability of the criminal justice system.The blueprint will make New Orleans "a leader in law enforcement," Nagin said.Nagin's goals...

VP of administration for New Orleans Saints receives award.
August 11, 2003... Byline: Staff Arnold Fielkow, vice president of administration for the New Orleans Saints, received the Sanchez to Sanchez award from the Hemispheric Congress of Latin Chambers of Commerce and Industry. The award honors those playing an...

Teche Holding reports net income increase of 13%.
August 11, 2003... Byline: Staff Teche Holding Co. reported a 13% third-quarter net income increase of 13% to $1.8 million, or 74 cents per share, compared with net income of $1.6 million, or 67 cents per share, during the same period last year.

Globe Bancorp announces net income of $40K.
August 11, 2003... Byline: Staff Globe Bancorp Inc., the holding company of Metaire-based Globe Homestead Bank, announced net income of $40,000 or 16 cents per share, for the quarter ending June 30. That's down 31% from $58,000, or 21 cents per share, during...

Murphy Oil Corp. declares quarterly dividend of 20 cents per share.
August 11, 2003... Byline: Staff Murphy Oil Corp. of El Dorado, Ark., declared a quarterly dividend of 20 cents per share on the company's common stock. The dividend is payable Sept. 1 to shareholders as of Aug. 15. The company announced net income in the...

Conrad Industries reports net loss of $726K.
August 11, 2003... Byline: Staff Conrad Industries Inc. of Morgan City reported a net loss of $726,000, or 10 cents per share, for its second quarter ended June 30. During the same quarter last year, the company declared $300,000, or 4 cents per share, in...

Transit Without Visa program suspended.
August 11, 2003... Byline: Staff The U.S. Department of Homeland Security and the U.S. Department of State suspended the Transit Without Visa program and the International-to-International transit program. The programs allowed international air passengers to...

Hornbeck Offshore reports 22% increase in revenues.
August 11, 2003... Byline: Staff Hornbeck Offshore Inc. reported revenues for the second quarter ended June 30 increased 22% to $26 million compared with $21.3 million for the same quarter of 2002. The primary reason was the increase in company fleet size of...

Outstanding women nominees sought.
August 11, 2003... Byline: Staff CityBusiness is once again looking for outstanding women in our community to honor in our Women of the Year publication and at a special luncheon in November. We encourage readers to nominate friends, colleagues and...

Energy Partners reports net income of $6.6M.
August 11, 2003... Byline: Staff Energy Partners Ltd. of New Orleans reported net income for the second quarter of $6.6 million, or 21 cents per share, up from a loss of $421,000, or 2 cents per share, a year ago. Natural gas sales volumes rose 30% to a...

Offshore Logistics reports net income of $8.3M.
August 11, 2003... Byline: Staff Offshore Logistics Inc. of Lafayette reported net income for the first quarter ended June 30 of $8.3 million, or 35 cents per share, on revenues of $134.8 million. The net income dropped 13% from $9.5 million, or 39 cents per...

Northrop Grumman awarded $42.3M contract by U.S. Navy.
August 11, 2003... Byline: Staff Northrop Grumman Ship Systems was awarded a $42.3 million contract by the U.S. Navy for services to the DDG 51 Class Aegis destroyer program. It is the third option of a multiyear contract awarded to the company last year to...

Candidacies for 2 Jefferson Parish offices announced.
August 11, 2003... Byline: Staff Candidacies for two Jefferson Parish offices and the Louisiana Senate were announced last week.Patricia M. "Pat" Harris, an ordained minister and attorney, is seeking the Senate District 3 seat now held by state Sen. Lambert...

New Orleans-based Tidewater names new oil supply ship after fallen soldier.
August 18, 2003... Byline: Staff Tidewater Inc. is naming an oil service supply ship after 1st Lt. Jonathan Rozier, assigned to B-Company, 270th Armored Battalion, who was killed when his military vehicle was hit by rocket-propelled grenades July 27 in...

Gubernatorial candidate Mike Stagg traverses Louisiana on foot campaigning for office.
August 18, 2003... Byline: Staff If you can't raise $1 million to run for Louisiana governor, you can walk hundreds of miles to reach the people instead. That's what gubernatorial candidate Mike Stagg of Lafayette is doing. Stagg is aping former Sen. Walton...

Rep. David Vitter, a Republican from Metairie, pokes fun at California gubernatorial recall.
August 18, 2003... Byline: Staff Rep. David Vitter, R-Metairie, walked into a full house when he spoke at a meeting of the East Meets West, with members of the Slidell Chamber of Commerce and the St. Tammany West Chamber."I didn't know if I was at a luncheon...

New Orleans companies granted $6.9M in job training.
August 18, 2003... Byline: Staff Fourteen grants totaling $6.9 million have been awarded to 21 New Orleans area companies by the The New Orleans Regional Chamber of Commerce and MetroVision and the Louisiana Department of Labor. The companies will use the...

New Orleans-based Global Technical Resources helps companies save thousands through online bids.
August 18, 2003... Byline: Staff New Orleans software company Global Technical Resources has come up with a way for companies to save thousands in the bidding process.It costs refinery operations about $8 to mail an application packet to a prospective...

La. gubernatorial candidates asked to partner with Chamber of Commerce to create new jobs.
August 18, 2003... Byline: Staff MetroVision asked all seven gubernatorial candidates to partner with the New Orleans Regional Chamber of Commerce in meeting its goal of creating 30,000 jobs over the next five years. None of the candidates were expected to...

New Orleans-based Tenet Healthcare's Gulf Coast office eliminates marketing positions.
August 18, 2003... Byline: Staff Tenet Healthcare Corp.'s Gulf Coast office in New Orleans eliminated two full-time and one part-time position from its marketing department. Those duties will now fall to individual Tenet hospitals within the region. John...

Jackson, Miss.-based Entergy Corp. to cut 1,000 jobs in its nuclear division.
August 18, 2003... Byline: Staff Entergy Corp. plans to cut 1,000 jobs, or 14%, of its nuclear division by October, company officials said. The Jackson, Miss.-based Entergy Nuclear has acquired several nuclear plants over the past few years, which resulted...

Pineville-based Cleco Corp. reports loss for second quarter.
August 18, 2003... Byline: Staff Cleco Corp. of Pineville reported a loss of $66.9 million, or $1.42 per share, in its second quarter, compared with a profit of $17.3 million, or 36 cents per share, during the same quarter last year. An impairment charge of...

86 La. driver's license offices temporarily shut down for installation of computer security patch.
August 18, 2003... Byline: Staff The Lovsan computer worm, also known as MSBlast, temporarily shut down 86 Louisiana driver's license offices while employees installed security patches to prevent the worm from striking again. The worm targets computers that...

New Orleans Regional Transit Authority issues last major traffic change for Canal Streetcar Project.
August 18, 2003... Byline: Staff The Regional Transit Authority issued what is expected to be the last major traffic change for the Canal Streetcar Project spur on North Carrollton Avenue. River-bound traffic is now transferred to the lake-bound side between...

PSS World Medical signs lease for Shreveport-based Sealy & Co.'s bldg. in James Business Park.
August 18, 2003... Byline: Staff Sealy & Company Inc., headquartered in Shreveport, announced that PSS World Medical Inc. has signed a lease at its Canvasback building in James Business Park. Jacksonville, Fla.-based PSS will lease the 40,500-square-foot...

Strong N.O. tourism emphasis criticized as ineffectual.
August 18, 2003... Byline: Elisabeth Butler A New Orleans historian admonished the city last week for depending too much on tourism for economic development. "What's been going on during the last generation is a creeping destruction, and New Orleans isn't...