New Orleans CityBusiness articles from July 2003

New Orleans CityBusiness archives from July 2003

New Orleans transportation officials believe Costa Rica needs nonstop service.
July 7, 2003... Byline: Ellen Boyer Flying into Costa Rica, is like flying over the Garden of Eden. Perfectly lush and green. But to get there from New Orleans is less heavenly. You have to hop on a jet that stops in Honduras on its way to El...

Metairie-based Apollo USA Inc. succeeds in the milk business on the world market.
July 7, 2003... Byline: Terry O'Connor A Metairie trading operation is milking a niche business opportunity for all it's worth. Apollo USA Inc. increased its sales revenues four years in a row to a company record $21.8 million in 2002, primarily by...

Tulane's $4.3M stem cell grant builds interest for researchers.
July 7, 2003... Byline: Elisabeth Butler The Tulane University Center for Gene Therapy made a splash in research circles when it landed a $4.3 million grant to produce uniform stem cells for scientists worldwide. The school couldn't ask for better...

Two New Orleans-area companies team up to design eco-friendly, oil exploration hovercrafts.
July 7, 2003... Byline: Amber Bethel New Orleans-area companies Textron Marine & Land and Levitron LLC are teaming up to design eco-friendly oil and gas exploration vehicles known as hoverbarges and hovercrafts. The prototypes, which ride on cushions...

Most New Orleans apartment rents stay about the same in 2003.
July 7, 2003... Byline: Ellen Boyer A slow national and regional economy flattened apartment rental rates in most of greater New Orleans during the past 18 months, according to a recently released industry report. The average metro apartment rented...

$8M jazz park in New Orleans on hold while lease is finalized with Nat. Park Service.
July 7, 2003... Byline: Keith Pandolfi A 5-year-old plan to spend more than $8 million to transform Armstrong Park into the New Orleans Jazz National Historic Park is on hold while the National Park Service is finalizing its lease with the city. ...

Pres. of New Orleans' American Heart Assn. recommends physicians become role models for patients.
July 7, 2003... Byline: Staff Dr. Robert Matheney preaches to the choir. He's president of the New Orleans chapter of the American Heart Association, a Dallas-based nonprofit organization that recently recommended physicians become role models for their...

Ambassador for New Orleans-based Southern Comfort tells the world about Big Easy hospitality.
July 7, 2003... Byline: Amber Bethel Lou Giglio knows his comfort level. A popular guy at any party, this Southern Comfort global brand ambassador and director of homeplace hospitality has visited 34 countries in three years telling tales of the Big...

Ex-St. Thomas residents to sell their own hot sauce.
July 7, 2003... Byline: Staff A group of 18 former St. Thomas public housing residents are looking for financial backing to help develop and market their own brand of hot sauce dubbed St. Thomas 7-Pepper Hot Sauce. The seven different kinds of peppers...

Louisiana's Medicaid network opens enrollment to New Orleans physicians.
July 7, 2003... Byline: Elisabeth Butler The state Department of Health and Hospitals expanded its Medicaid doctors' network this month to include Orleans Parish. The move was made to cut red tape and reduce the expense of treating Louisiana's poorest...

La.'s Minerals Management Service loses Internet communication services.
July 7, 2003... Byline: Staff Folks at the Minerals Management Service are communicating the old-fashioned way these days. The office can not be reached via e-mail or the Internet after a temporary restraining order from the U.S. District Court for...

Metairie-based Season Grief Center helps adults and children manage the grieving process.
July 7, 2003... Byline: Keith Pandolfi It can take a while for grief to kick in. After losing a friend or family member, the initial shock can postpone the genuine sense of loss for weeks, months or years. Located in a small house on Brockenbraugh...

New Orleans Non-profit Briefs: July 7, 2003.
July 7, 2003... Byline: Keith Pandolfi New Orleans Habitat for Humanity employees Daniel Haile, Valarie Smith, Geneva Rehaha, as well as several volunteers recently joined former president Jimmy Carter and his wife, Rosalynn, in Valdosta, Ga., for Habitat...

Commentary: Norman Francis, pres. of Xavier Univ., exemplifies qualities of a true leader.
July 7, 2003... Byline: Staff An outstanding leader with courage and creativity. A person committed to educational excellence. A man with commitment, tenacity and professionalism. A one of a kind. Those are a few of the descriptions friends...

New Orleans-area student interns get high tech taste of real jobs this summer.
July 7, 2003... Byline: Megan Kamerick As any student can tell you, the worth of internships varies greatly. But Paul Staring has few qualms about his experience at Intercosmos Media Group Inc. in New Orleans. "I am definitely going to stay here. I...

University of New Orleans team announces nanoparticle breakthrough in Nature magazine.
July 7, 2003... Byline: Staff Scientists from the University of New Orleans, Columbia University and IBM announced their nanoparticle research findings in the current issue of Nature magazine. The team found a new, three-dimensional material made of...

Montreal-based drug development company buys New Orleans lab.
July 7, 2003... Byline: Staff Drug development company MDS Pharma Services of Montreal recently bought The Clinical Research Center at 2237 Poydras St. MDS Pharma purchased the center for an undisclosed amount from F/V Medical LLC in New Orleans....

City of New Orleans sued for granting health benefits to gays' domestic partners.
July 7, 2003... Byline: Staff The city of New Orleans was sued by Shreveport lawyer Mike Johnson and six New Orleans residents for granting health benefits to same-sex domestic partners. The suit claims the city council ordinance conflicts with state...

Music festival and NEA teacher convention help produce strong New Orlean's tourism weekend.
July 7, 2003... Byline: Staff Essence Music Festival and the National Education Association convention combined to produce one of the strongest tourism weekends of the year July 3-5. Hotel occupancy for the weekend hovered in the high 90% range, said Al...

United Airlines announces plan to expand service between New Orleans and Washington Dulles.
July 7, 2003... Byline: Staff United Airlines last week announced a plan to expand United Express service between Washington Dulles and New Orleans. Starting this week, Louis Armstrong New Orleans International Airport will offer three daily non-stop...

Commentary: Where is the outrage about the Orleans Parish School Board?
July 7, 2003... Byline: D. Singletary Where is the outrage? Last week, a CityBusiness editorial called for the entire Orleans Parish School Board to resign. We asked them to step down because more than $20 million has apparently been stolen from the...

Louisiana's worker training bill renewed for 4 years.
July 7, 2003... Byline: Staff Gov. Mike Foster signed a bill July 1 renewing the state Incumbent Worker Training Program another four years. The program pays to train existing employees of any company established within the state for more than three...

La. Consumer Awareness Roadshows travel the state to educate consumers about insurance.
July 7, 2003... Byline: Staff When Louisiana's Commissioner of Insurance doesn't understand aspects of his own health insurance policy, the state Department of Insurance has a problem. That's why Commissioner Robert Wooley decided to take the...

New Orleans developers honored for preservation of Arabella Station in Uptown.
July 7, 2003... Byline: Staff Developers Neal Hixon and Chris Sarpy, owners of Sarpy Hixon Development LLC, have been honored by the New Orleans Historic District Landmarks Commission and the Louisiana Preservation Alliance for developing the...

New Orleans crime-victim advocate dies in car accident.
July 7, 2003... Byline: Staff Sandy Krasnoff, a New Orleans crime-victim advocate, died last week of injuries sustained in a car accident. Krasnoff led the nonprofit organization Victims and Citizens Against Crime.

St. Charles-based Orion Refining Corp. sells Norco refinery to San Antonio-based Valero Energy.
July 7, 2003... Byline: Staff Orion Refining Corp. sold its Norco refinery to Valero Energy Corp. of San Antonio for $500 million. The refinery, which produces 185,000 barrels of gas per day, is located in St. Charles Parish. The agreement provides for...

Board of directors at Mandeville-based Hornbeck Offshore Services approves stockholder rights plan.
July 7, 2003... Byline: Staff Hornbeck Offshore Services Inc. of Mandeville announced its board of directors approved a stockholder rights plan designed to enable stockholders to realize the value of their investment and provide equal treatment for...

New restaurnant opens at New Orleans-based Harrah's Casino.
July 7, 2003... Byline: Staff The Besh Steakhouse at Harrah's Casino opened last week. The restaurant, which seats 150 and is run by chef John Besh, created 70 new jobs at Harrah's. Along with his duties at Harrah's, Besh will continue to serve as...

Piccadilly Cafeterias may be sold because of declining sales.
July 7, 2003... Byline: Staff Piccadilly Cafeterias Inc. Board of Directors will possibly sell the company to make up for declining sales. The Baton Rouge-based company reported a net income of $2.4 million, or 23 cents per share, during the third quarter...

New Orleans Saints to resume meetings about lease expansion on Louisiana Superdome.
July 7, 2003... Byline: Staff New Orleans Saints officials said they are ready to resume meetings with the state of Louisiana on a 10-year lease extension on the Louisiana Superdome. Gov. Mike Foster said he does not expect to renegotiate while still in...

New Orleans Hornets hire new coach.
July 7, 2003... Byline: Staff The New Orleans Hornets hired former Los Angeles Clippers head coach Alvin Gentry as an assistant coach. He has also served as head coach of the Detroit Pistons and the Miami Heat.

FPN Financial Corp. completes sale of trust preferred securities.
July 7, 2003... Byline: Staff FPB Financial Corp. completed the sale of $3 million in trust preferred securities through a newly formed trust. The Hammond-based holding company for Florida Parishes Bank is offering the trust-preferred securities with a...

Former New Orleans mayor Marc Morial named director of National Urban League.
July 7, 2003... Byline: Terry O'Connor Former New Orleans Mayor Marc Morial was ebullient and effusive at the 24th Greater New Orleans Urban League Gala June 28 in one of his first public appearances in the Crescent City since being named director of the...

New Orleans Saints home game sellout continuing.
July 7, 2003... Byline: Terry O'Connor Two days after putting individual game and group tickets on sale, the New Orleans Saints sold out their Nov. 16 home game against Atlanta and quarterback Michael Vick. Now, the only way fans can see this killer...

New Orleans-based The Chateaubriand surviving during construction on streetcar project.
July 7, 2003... Byline: Terry O'Connor The Chateaubriand at 310 Carrolton Ave. is surviving while construction work is being done on the streetcar project. But not thriving. "Our regulars are keeping us afloat," said Donna Underwood, dining room...

Commentary: Tulane president to ask other universities to share Bowl Championship wealth.
July 7, 2003... Byline: Terry O'Connor Tulane University President Scott Cowen's quixotic July 22 teleconference will be used to ask 63 university presidents with teams in the Bowl Championship series to better share the wealth. Critics would say Cowen's...

New Orleans staying bonus offer fails to affect ExxonMobil exodus to Houston.
July 14, 2003... Byline: Amber Bethel The first wave of former New Orleans ExxonMobil Corp. employees are unpacking boxes in Houston this week. As many as 100 professionals said goodbye to the New Orleans office last week and more workers will follow...

Second-wettest June on record causes 70% drop in business for New Orleans construction firms.
July 14, 2003... Byline: Ellen Boyer Construction workers in New Orleans are spending more time pumping water out of work sites than pumping concrete into them. A sopping June has meant as much as a 70% drop in business for some New Orleans...

N.O. mayor asks National Park service and WWOZ radio to renovate existing bldg. for new studio.
July 14, 2003... Byline: Keith Pandolfi Mayor C. Ray Nagin has asked the National Park Service and WWOZ-FM 90.7 to rethink a multimillion-dollar development plan for Louis Armstrong Park. The Park Service wants to develop a section of the park into a...

Direct service vital for Port of New Orleans to increase cargo traffic.
July 14, 2003... Byline: Ellen Boyer Ted Knight, executive assistant for operations at the Port of New Orleans, was prepared to handle a few logistical setbacks -- like late buses -- on the state's recent trade mission to Costa Rica. But as he...

La. avoids shortage of doctors willing to stay on call after-hours.
July 14, 2003... Byline: Elisabeth Butler Unlike many medical communities across the country, New Orleans has no shortage of specialty doctors willing to stay on call after hours. Health officials say several physician-friendly state laws and a large...

N.Y. investors buy Elmwood-based vacuum cleaner manufacturer Oreck Corp.
July 14, 2003... Byline: Elisabeth Butler American Securities Capital Partners LLC, a New York City private investment company, bought Elmwood-based vacuum cleaner manufacturer Oreck Corp. American Securities bought the 39-year-old company April 11...

Central American Free Trade Agreement positions Costa Rica as a good market for La.
July 14, 2003... Byline: Ellen Boyer The state's recent trade mission to Costa Rica found more buzz about CAFTA than about landing deals with Louisiana companies. The Central American Free Trade Agreement will erase or lower tariffs on trade between...

On the record with Jack Capella of the New Orleans Hornets.
July 14, 2003... Byline: Keith Pandolfi New Orleans native Jack Capella is used to having a lot of responsibility on his shoulders. Before taking his new job as executive vice president and chief operating officer for the New Orleans Hornets, he served as...

Tulane researchers trying to understand how hormones mix with water.
July 14, 2003... Byline: Amber Bethel There's something in the water and it's birth control. Researchers at the Center for Bioenvironmental Research at Tulane and Xavier universities, a joint operation, have been studying sediment in the Mississippi...

Commentary: Auditor finds gross financial mismanagement of Orleans Parish School Board funds.
July 14, 2003... Byline: Staff The loss through fraud, theft or mismanagement of Orleans Parish School Board funds this year alone is certain to top $27 million, according to independent auditor Stuart Piltch. It's an astonishing amount of money for...

Some U.S. lenders design financing options for Muslims since Islam forbids interest payments.
July 14, 2003... Byline: Michael Giusti A handful of U.S. lenders are working to reconcile the American Dream with the Islamic prohibition against paying interest. According to Islamic law, it's forbidden to pay and receive riba, or interest. In the...

Commentary: A busy week in the life of a busy editor.
July 14, 2003... Byline: D. Singletary This is a very busy week. First of all, I am speaking to the Pachyderm Club of Jefferson Parish about business and political stuff. These Republicans meet regularly to hear about relevant issues. I guess they've...

N.O. Councilman Marlin Gusman and wife have passport mix-up in Costa Rica.
July 14, 2003... Byline: Staff Councilman Marlin Gusman and his wife, Renee, stepped off a plane in Costa Rica two weeks ago tired but ready for a three-day trade mission. Instead of cruising through Immigration and to their hotel room after the six-hour...

Former N.O. broker pleads guilty to defrauding about $1million from clients.
July 14, 2003... Byline: Staff A former broker employed by the New Orleans securities firm Johnson Rice & Co. LLC has pleaded guilty to defrauding about $1 million from clients over a six-year period. According to the Eastern District of Louisiana U.S....

QVC sponsors casting call for next program host at Harrah's New Orleans Casino.
July 14, 2003... Byline: Staff Miss the last American Idol tryout? You still have a chance at stardom. Head to Harrah's New Orleans Casino today and bring a product to sell. Wear a Diamonique ring for luck. QVC Inc., a $4.3 billion company, is...

U.S. Senate committee approves $1.9 billion for production of military transport ship at Avondale.
July 14, 2003... Byline: Staff The U.S. Senate Appropriations Committee approved $1.19 billion for production of the LPD-22, a military transport ship, to be built at Avondale Shipyards. A total of $75 million in advanced funds has been allotted to build...

National D-Day Museum receives federal funding to expand exhibits.
July 14, 2003... Byline: Staff The National D-Day Museum received $3.5 million from the U.S. Senate Appropriations Committee to expand its exhibits relating to the Alaska and Pacific military campaigns of World War II. The museum also received permission...

Entergy Louisiana works to raise power lines over Mississippi so large ships can pass beneath.
July 14, 2003... Byline: Staff Entergy Louisiana is working to raise a pair of power lines over the Mississippi River to a height exceeding the U.S. Army Corps of Engineers permit requirement ensuring enough room for large ships to pass beneath. A section...

La.-based Entergy Corp. projects declining second-quarter earnings.
July 14, 2003... Byline: Staff Entergy Corp. projects second-quarter earnings at $1.15 per share, down from $1.17 per share during the second quarter 2002. The forecast beat analyst expectations of $1.11 per share. Temperate weather reduced demand for...

N.O.-based Omni Bank announces $3.2 million in earnings for 2002.
July 14, 2003... Byline: Staff Omni Bank announced $3.2 million in earnings for 2002, up 18.5% from $2.7 million the prior year. Total assets were $354.2 million in 2002, a 13% increase from $313.3 in 2001. The Metaire-based bank opened two new West Bank...

La. commissioner of insurance reports preliminary damage estimates from Tropical Storm Bill.
July 14, 2003... Byline: Staff Robert Wooley, Louisiana commissioner of insurance, reported preliminary insured damage estimates from Tropical Storm Bill at approximately $16 million, which includes federal flood insurance claims. The Department of...

Port of New Orleans establishes alliance with Panama Canal Authority for use of trade route link.
July 14, 2003... Byline: Staff The Port of New Orleans and the Panama Canal Authority signed an agreement to establish an alliance to encourage use of the all-water trade route link between Asia and the Gulf of Mexico coast and the East Coast via the...

Tulane University Law School receives $1 million gift to establish Gauthier Center.
July 14, 2003... Byline: Staff Tulane University Law School received a $1 million gift from the family of the deceased New Orleans trial attorney Wendell H. Gauthier to establish the Wendell H. Gauthier Center for Applied Trial Advocacy. The center is...

N.O.-based Ogden Museum of Southern Art announces opening date in August.
July 14, 2003... Byline: Staff The Ogden Museum of Southern Art announced an official opening date of Aug. 23. The museum will house about 2,700 works of art from 15 southern states and the District of Columbia. The $19-plus million museum is being funded...

La. Student Financial Assistance Commission selects Sallie Mae as guarantor.
July 14, 2003... Byline: Staff The Louisiana Student Financial Assistance Commission has selected Sallie Mae as its guarantor services contractor. Sallie Mae will continue to provide the Louisiana Office of Student Financial Assistance an automated student...

Tenet Healthcare names chief executive of N.O.-based Memorial Medical Center.
July 14, 2003... Byline: Staff Tenet Healthcare Corp. has named L. Rene Goux chief executive officer of Memorial Medical Center in New Orleans. With two campuses, the former Mercy Hospital in Mid-City and the former Southern Baptist Hospital in Uptown,...

Owners of N.O.-based Reginelli's Pizzeria purchase Mystic Pizza.
July 14, 2003... Byline: Staff Two restaurateurs are trying to cut a bigger slice of New Orleans' pizza business. Darryl Reginelli and Bruce Erhardt, owners of Reginelli's Pizzeria, have purchased Mystic Pizza, 3244 Magazine St., from owner Clay...

New Orleans ophthalmologist schedules La.'s first artificial cornea implant.
July 14, 2003... Byline: Staff A New Orleans doctor promises to give patients with damaged corneas another chance to see. Dr. Marguerite McDonald, clinical professor of ophthalmology at Tulane University and director of the Southern Vision Institute in New...

Board of Regents endows three chairs at La. State Univ. Health Science Center.
July 14, 2003... Byline: Staff The Louisiana Board of Regents has matched $1.2 million in funding to support three endowed chairs at the Louisiana State University Health Sciences Center. The Louisiana Educational Quality Support Fund is generated...

$8.7 million federal grant helps Louisiana shrimpers.
July 14, 2003... Byline: Staff The National Oceanic and Atmospheric Administration has awarded an $8.7 million grant to the Louisiana Department of Wildlife and Fisheries. The money will provide financial assistance to shrimp fishermen who have lost...

N.O. Regional Chamber of Commerce signs commerce agreement with Costa Rica.
July 14, 2003... Byline: Staff The New Orleans Regional Chamber of Commerce and the Costa Rican-American Chamber of Commerce have signed an agreement to work together to promote international commerce among member companies, said Barbara Johnson, Chamber...

Commentary: Most important leading economic indicator grows in your wallet.
July 21, 2003... Byline: D. Singletary There are leading economic indicators everywhere you look these days. As my grandmother would say, "you can't swing a cat without hitting one." Leading indicators are designed to interpret how our economy is...

Immigrants adding their own ingredients to farmers markets.
July 21, 2003... Byline: Megan Kamerick Diana Mendez's stand is a popular place at the Crescent City Farmers Market. People line up for her vegetarian tamales, salsa, jam and produce. A chef asks for advice on growing chipotle peppers. A few...

Commentary: CAFTA concept encourages increase in free trade.
July 21, 2003... Byline: Staff When buggy whip manufacturers found out automobiles could be mass-produced, they protested mightily about unfair competition. Automobiles were dangerous, went the argument. They would put good people out of business who...

Entergy Nuclear to begin negotiating mgmt. services agreement.
July 21, 2003... Byline: Staff Entergy Nuclear announced the company will begin negotiating a management services agreement with Nebraska Public Power District to provide management to Cooper Nuclear Station. Entergy Nuclear, a subsidiary of the New...

Northrop Grumman Ship Systems christens San Antonio LPD 17.
July 21, 2003... Byline: Staff Northrop Grumman Ship Systems christened the San Antonio LPD 17, the first in a new class of 12 amphibious transport dock ships, built for the U.S. Navy, at the company's Avondale Operations. The ships cost about $850 million...

East Jefferson, West Bank consolidate chamber memberships.
July 21, 2003... Byline: Staff The East Jefferson and West Bank Councils of the New Orleans Regional Chamber of Commerce have consolidated their 450 members into the Jefferson Chamber.

New Orleans-based casinos making more money this year, than last.
July 21, 2003... Byline: Staff Most New Orleans-based casinos are making more money than they did last summer, according to the Louisiana Gaming Control Board's June gaming revenue report for riverboats and land-based casinos. Bally's reported $5.5 million...

VT Halter Marine president, chief operating officer has resigned.
July 21, 2003... Byline: Staff VT Halter Marine Inc. of Gulfport, Miss., announced Anil Raj has resigned as president and chief operating officer. VT Halter Marine is a subsidiary of Vision Technologies Systems Inc. of Alexandria, Va.

The Shaw Group Inc. announces earnings of $3.1 million.
July 21, 2003... Byline: Staff The Shaw Group Inc. of Baton Rouge announced earnings of $3.1 million, or 8 cents per share, for the third quarter ended May 31. It was a decrease from earnings of $26.7 million, or 61 cents per share, in the same quarter of...

Freeport-McMoRan Copper & Gold Inc. reports 2003 net income of $57.4 million.
July 21, 2003... Byline: Staff Freeport-McMoRan Copper & Gold Inc. reported second-quarter 2003 net income of $57.4 million, or 37 cents per share, compared with second-quarter 2002 net income of $5.6 million, or 4 cents per share. Second-quarter 2003...

Bank One Corp. reports net income of $859 million.
July 21, 2003... Byline: Staff Bank One Corp., based in Chicago, reported a net income of $859 million, or 75 cents per share, during the second quarter of 2003, up 1.8% from $843 million, or 71 cents per share, during the same period last year.

J. Ray McDermott awarded a $26.6 million subcontract.
July 21, 2003... Byline: Staff J. Ray McDermott, a New Orleans-based subsidiary of McDermott International Inc. has been awarded a $26.6 million subcontract for work on Qatar Petroleum's complex in the Arabian Gulf. The contract was signed with Larsen &...

Whitney Holding Corp. announces 2nd-quarter earnings of 60 cents per share.
July 21, 2003... Byline: Staff Whitney Holding Corp. announced second-quarter earnings of 60 cents per share, equaling earnings during the same year-ago period. The parent company of Whitney National Bank reported net income of $23.8 million, basically...

Hibernia Corp. announces net income of $61.4 million.
July 21, 2003... Byline: Staff Hibernia Corp. announced $61.4 million in second-quarter net income, down 2% from $62.5 million during the same year-ago period. Hibernia Corp. is the holding company of Hibernia National Bank. For the first half of 2003, net...

Stewart Enterprises announces new chairman emeritus.
July 21, 2003... Byline: Staff Stewart Enterprises Inc. announced Chairman Frank B. Stewart Jr., will become chairman emeritus in September but will remain on the board as a major stockholder. Stewart became president, chief executive officer and chairman...

Interview with Valero Energy's new VP, general manager.
July 21, 2003... Byline: Amber Bethel A few changes have taken place since Valero Energy Corp. purchased the former Orion gas refinery in St. Charles Parish for $500 million July 1. Valero, based in San Antonio, is the nation's largest independent refiner...

U.S. mortgage record expected.
July 21, 2003... Byline: Staff Mortgage volume in the United States will hit an all-time record of $3.4 trillion in 2003 before a gradual decline, according to the The Mortgage Bankers Association of America of Washington, D.C. Douglas Duncan, chief...