New Orleans City Business

Rep. William Jefferson, D-N.O. Pushes House for Cat 5 Levee Protection

Rep. William Jefferson, D-New Orleans, submitted the following statement Wednesday to the House of Representatives Congressional Record in support of requesting conferees on a bill to guarantee Category 5 hurricane protection in coastal Louisiana: "Mr. Speaker, I rise today to request the conferees on the Water Development Resources Act guarantee levee protection at a Category 5 level. Hurricane Katrina served as a stark reminder that our levee system in south Louisiana is inadequate. We are ...

N.O.-Based Petrocom Llc Bought by Miami Investment Firm

PetroCom LLC has been acquired by an affiliate of HIG Capital, a Miami-based private investment firm. Headquartered in New Orleans, PetroCom is a cellular carrier in the Gulf of Mexico and a full- service telecommunications solutions provider for the offshore industry. Terms of the deal were not announced.

Katrina-Related Mortgage Loan Delinquencies Falling

Katrina-related delinquencies have dropped to 37 percent of December 2005's peak of $269.8 million but remain 3.5 times higher than pre-storm levels, according to Fitch's latest U.S. CMBS loan delinquency index, which fell four basis points to 0.55 percent in August. Most outstanding Katrina-related delinquencies are located in the New Orleans metro area as the city's recovery continues to lag well behind other storm-affected regions, according to senior director Patty Bach.

N.O. Residents Appeal to D.C. For Aid to Vietnamese Americans

Post-hurricane rebuilding progress and challenges of Vietnamese Americans will be the subject of a briefing by the National Congress of Vietnamese Americans at noon today in the Rayburn House Office Building. Expected speakers include representatives from Mary Queen of Vietnam Church in eastern New Orleans as well as representatives the National Alliance of Vietnamese American Service Agencies and Boat People SOS.

N.O. Crime Summit to Focus On Creating Safe Spaces

Key strategies for crime prevention will be the focus of a Crime Summit 8:45 a.m. Saturday at the Hilton Riverside-New Orleans. Spearheaded by the New Orleans City Councilmembers and Alfonso Lenhardt, the National Crime Prevention Council president and CEO, the summit will outline the roles of environmental design in reducing crime. "It's about designing safe spaces in the community," said Michelle Boykins, Crime Prevention Council spokeswoman. "If your home isn't properly landscaped and the ...

Louisiana Housing Finance Authority to Rebid $50m Contract

After a deluge of public complaints, the Louisiana Housing Finance Agency decided Wednesday not to award a master loan servicing contract to Countrywide Financial Corp. The contract will be put out for new bids. Chairman Wayne Woods said the LHFA was flooded with e-mails, calls and letters from people in the real estate industry alleging LHFA board members and employees were trying to steer the contract to Countrywide. Woods said the claims were "just rumor and innuendo."

450-Room Harrah's N.O. Hotel to Open Sept. 21

Harrah's New Orleans Hotel will open a new 26-story, 450-room structure Sept. 21. The new hotel will open with a ribbon-cutting at 6 p.m. next Thursday.

Washington Artillery to Conduct Review Sunday in Metairie

The Washington Artillery, the oldest militia unit in Louisiana and oldest artillery battalion outside the original 13 colonies, will commemorate its 168th year of service to state and nation this weekend. The 1st Battalion, 141st Artillery Regiment, of the 256th Infantry Brigade will hold its annual Pass-in-Review at 10 a.m. Sunday on Soccer Field No. 1 in Lafreniere Park, 3000 Downs Blvd.

Green Bay Packers Fullback Claimed by the New Orleans Saints

The New Orleans Saints today claimed fullback Vonta Leach off waivers from the Green Bay Packers. To make room on the roster, recently acquired defensive end Michael Haynes was waived from a non- football injury. The 6-foot, 250-pound Leach, waived Tuesday, will join the Saints in time to visit his old team when New Orleans plays Green Bay at noon Sunday.

New Orleans-Based Lift's $200m Film Deal Sets Louisiana Record

Los Angeles-based Element Films and New Orleans-based LIFT Films are partnering in a record new $200-million motion picture production financing agreement. The Louisiana Governor's Office of Film and Television said it is the largest deal of its kind in state history.

Exxon Mobil Retirees in Baton Rouge Win $22m Ruling but Appeal Likely

A federal judge today upheld a $22 million award to 32 retirees of Exxon Mobil Corp. in Baton Rouge who claimed an investment firm needlessly risked their money with questionable investments. Securities America Inc. and financial planner David McFadden of Baton Rouge have until Nov. 1 to ask the U.S. 5th Circuit Court of Appeals to set aside the award issued by an arbitration panel, said Jim Swanson, an attorney representing the retirees.

Nasa Michoud Assembly Facility Delivers Space Shuttle Component

External Tank-123 departed via ocean-going barge today from the NASA Michoud Assembly Facility en route to Kennedy Space Center. Lockheed Martin Space Systems - Michoud Operations delivered ET- 123 to NASA Wednesday and rolled the tank to the enclosed barge.

American Whiskey Fest Teams with N.O. Restaurants

The American Whiskey Festival scheduled for Sept. 27-28 will pair the world's best master distillers with distinctive New Orleans restaurants for a two-day event designed to offer classic New Orleans cuisine combined with award-winning American whiskeys. "New Orleans is the perfect place for a drinking and dining event that will spotlight the role of American whiskey." said Fred Holley, event coordinator with Republic Beverage Co. "The American Whiskey Festival is a celebration of great spiri...

Woodside Tries to Spike $69m Poison Pill Tied to Lafayette-Based Epl Takeover

A Delaware judge Thursday fast-tracked a lawsuit challenging a proposed $1.4-billion buyout by Energy Partners Ltd. of Stone Energy Corp. of Lafayette. The lawsuit was brought by Covington-based ATS Inc., a subsidiary of Australia's Woodside Petroleum Ltd., which began an $833-million hostile takeover of EPL in late August. The ATS complaint seeks to invalidate termination fees of the EPL and Stone merger. which could tally $69.1 million if Woodside's unsolicited takeover of EPL kills the me...