New Orleans City Business

Reps. Jefferson, Melancon Bill Aims to Curb N.O. Teacher Shortage

Reps. William Jefferson, D-New Orleans, and Charlie Melancon, D- Napoleonville, said they have introduced legislation aimed at curbing critical teacher shortages in the New Orleans area. The proposed bill, Revitalizing New Orleans by Attracting America's Leaders Act of 2007, would offer teachers financial incentives to work in local school systems. It would also provide funding to schools and colleges in the metro area to help them eradicate post-Hurricane Katrina problems, including assistan...

More Than 5,000 Louisiana Businesses Apply for Grants

More than 5,000 businesses have applied for Louisiana business recovery grants and more than 1,000 have applied for loans, Louisiana economic development officials said. Applications are being reviewed, with grant and loan awards expected to begin in late March, officials said.

N.O. Aquarium Opens First New Exhibit Post-Katrina

The first new exhibit at the Audubon Aquarium of the Americas since Hurricane Katrina opened Thursday. Adventure Island features an interactive, educational play zone designed for children and adults.

Saulet Apartment Complex in New Orleans Plans 2q Reopening

The Saulet apartment complex in the Lower Garden District should begin a phased reopening during the second quarter, officials announced. "We have made significant progress since renovations began and are grateful to the staff and our general contractor, Gibbs Construction, for their efforts," said Laird Sparks, representative of Saulet's owner, CG Multifamily-New Orleans. "Our plan remains to fully renovate and reopen this important residential complex, and we very much look forward to bring...

Staff Shortages Force New Orleans Hospitals to Import Employees

If necessity is the mother of invention, Katrina is making masterminds out of hospital HR personnel across the metro area. Hospitals and clinics are coming up with inventive ways to recruit employee amid the ongoing New Orleans health care struggle to find qualified workers.

Louisiana-Based Mcdermott International's 4q Income Leaps 290 Percent

McDermott International Inc. reported net income of $141 million, or $1.23 per diluted share, for the fourth quarter ended Dec. 31, a 290 percent increase over net income of $36.1 million, or $0.32 per diluted share, for the same period in 2005. The company's revenues were $1.3 billion, up from $395.9 million. Operating income was $86.3 million, up from $56.2 million.

Louisiana Restaurant Assn. Ceo Earns Top Industry Honor

The Louisiana Restaurant Association today announced President and CEO Jim Funk will be honored by the National Restaurant Association and the NRA Education Foundation (May 19, 2007 at the 20th Annual Salute to Excellence Awards Gala and Banquet at the Hilton Chicago. Funk is the first state restaurant association executive to be inducted into the College of Diplomates. Since 1981, Funk has been the CEO of the LRA and he established the Self Insurer's Fund for Workers' Compensation in 1982. F...

Gov. Blanco Supports High School Redesign Recommendations

The day after the state named a new superintendent of education, Gov. Kathleen Babineaux Blanco today responded to recommendations from a high school redesign commission. Blanco said she supported the recommendations of the Louisiana High School Redesign Commisssion.

Gov. Blanco: New Education Superintendent has 'Large Shoes to Fill'

Gov. Kathleen Babineaux Blanco today told the new superintendent of education that he has "very large shoes to fill." On Thursday, the state Board of Elementary and Secondary Education announced the appointment of Pastorek, a New Orleans native.

Louisiana Insurance Officials Probe Allstate Cancellations

Louisiana Commissioner of Insurance Jim Donelon says his staff will inspect 18 properties in Orleans, Jefferson and St. Bernard parishes whose owners complained to his department after their insurance policies were cancelled recently. The cancellations came after the Dec. 31 lapsing of Emergency Rule 23, a measure Donelon put in place after the 2005 hurricanes to prevent insurers from dropping policies in wholesale fashion.

Whitney Holding Completes $61.7m St. Pete Bank Acquisition

Whitney Holding Corp. has completed its acquisition of Signature Financial Corp. in St. Petersburg, Fla. The $61.7-million cash and stock transaction expands Whitney's footprint in Florida with additional $278 million in assets, $226 million in loans and $220 million in deposits. With the addition of Signature's properties, Whitney has 35 branches, a loan production office and two trust offices in Florida with approximately $1.6 billion in assets.

Realty President Predicts N.O. Area Population Rebound by 2013

The president of one of Louisiana's largest real estate companies today said the metropolitan New Orleans' area population might rebound to pre-Hurricane Katrina levels by 2013, not 2018 as some experts have predicted. "I think we're going to rebound better, stronger, faster than anybody believes," said Arthur Sterbcow, of New Orleans-based Latter & Blum Cos.

La. Rep. Steve Scalise Bill Package Seeks Widespread Tax Cuts

State Rep. Steve Scalise, R-Jefferson, said he has filed a series of bills to spur economic development through cutting taxes. One of the bills, House Bill 54, would reinstate tax breaks that were taken away by the Stelly Plan. The bill aims to roll back Stelly tax increases by restoring tax deductions for home mortgage interest and charitable contributions.

Urban League Program to Aid at-Risk N.O. Youth

In a collaboration aiming to provide education and employment opportunities for at-risk youth, the Urban League of Greater New Orleans, Delgado Community College and others are launching an Urban Empowerment Program. The program's launch was unveiled this afternoon at Louisiana Technical College's West Bank campus, 475 Manhattan Blvd., in Harvey.