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Textron lays off 200 from Slidell military plants

Textron plans to lay off about 200 workers from its two Slidell armored vehicle plants, saying it’s temporarily shutting down production. Workers were told earlier this month that they would be laid off effective Nov. 3. Company spokesman Tom Williams said Textron, an industrial conglomerate based in Providence, Rhode Island, is replanning… Continue reading →

Rouses, Associated Grocers reach settlement in legal dispute

Advocate staff file photo by BRYAN TUCK -- Thibodaux-based Rouses Supermarket, with one of its 40 stores located in Lafayette, reached an undisclosed settlement in legal dispute with grocery supplier Associated Grocers in Baton Rouge.

Thibodaux-based retail grocery chain Rouses Enterprises and Baton Rouge-based wholesale grocery supplier Associated Grocers have reached an undisclosed settlement in a legal dispute after three days of trial last week. “The Rouse family is very satisfied with this resolution,” managing partner Donny Rouse said in a statement Monday. He said terms of the settlement are confidential.… Continue reading →

Financiers help startups get off the ground

Clayton White, South Coast Angel Fund LLC

As New Orleans snags plaudits for nurturing business startups, investors who have backed many of the enterprises also are finding support in groups that make their investment choices easier and may boost their chances of earning big returns. Help for the financiers has come with the growth of investor groups that not only attract money for startups but… Continue reading →

Spreading their wings

Most of the estimated $120 billion that’s injected into new and early stage businesses each year comes from friends and family of the entrepreneurs, but as much as $20 billion comes out of the pockets of individuals known as angel investors. Often, they are people who have accumulated wealth through their own enterprises and now wish to participate… Continue reading →

Business Briefs for Oct. 19, 2014

The law firm of Johnson, Johnson, Barrios & Yacoubian in New Orleans has changed its name to Johnson, Yacoubian & Paysse with the appointment of René S. Paysse Jr. as a partner. The announcement was made by Edward S. Johnson and Alan J. Yacoubian,… Continue reading →

Business Honors for Oct. 19, 2014

Neena Kelfstrom, The Runnels School

Gina E. Eubanks, associate vice chancellor and program leader for nutrition and food sciences at the LSU Agricultural Center and vice chancellor for extension at the Southern University AgCenter, received the Leadership Award at the Booker T. Washington Economic Summit at Tuskegee University in Alabama. She was cited for her work that highlights and… Continue reading →

Business Meetings for Oct. 19, 2014

LOUISIANA NOTARY ASSOCIATION-BAYOU REGION WHEN: Tuesday, 7 p.m. WHERE: Lin’s Chinese Buffet, 404 N. Canal Blvd., Thibodaux EVENT: Shop talk RESERVATIONS: Clorissa Caillouet,… Continue reading →

Entergy’s Vermont Yankee shutdown to cost $1.24 billion

Entergy Corp.’s soon-to-close Vermont Yankee nuclear plant could cost up to $1.24 billion for a decommissioning of its reactor, and plant officials said they currently have about half that much in a fund dedicated to paying for that work. The figure was contained in a “site assessment study”… Continue reading →

Federal offshore oil lease sale set for March

Oil and gas leases for 40 million acres off the coasts of Louisiana, Mississippi and Alabama will be offered by the federal government in a March sale at the Superdome in New Orleans, the Bureau of Ocean Energy Management said Friday. The sale will include 7,611 blocks, covering about 40.5 million acres,… Continue reading →

Entergy expecting lower third-quarter profits

The cost to shut down the Vermont Yankee nuclear power plant will mean a lower third-quarter profit for Entergy Corp. The New Orleans-based utility announced Friday it expects third quarter as-reported earnings of approximately $1.26 per share, compared with $1.34 per share a year ago. Higher-than-expected decommissioning costs for Vermont Yankee will chop approximately 37… Continue reading →

New Orleans riverboat revenue slips, Harrah’s inches upward

New Orleans-area riverboat casinos’ revenue slipped 2.8 percent to $19.7 million in September, while Harrah’s New Orleans Casino’s revenue inched upward by less than 1 percent to $24 million. Overall, Louisiana’s 14 riverboats, Harrah’s land-based casino and slots at four racetracks brought in $182.8 million in September, up 0.3 percent over the year-ago figures. New Orleans’… Continue reading →

Pool Corp. reports record profit

Covington-based Pool Corp. reported third-quarter earnings climbed to a record $34.8 million, or 78 cents per share, compared to $32.3 million, or 68 cents per share, a year earlier. The swimming pool and products wholesaler boosted sales by 6 percent to a record $615.5 million. Those results were driven by pool replacements and remodeling, which fueled… Continue reading →

Business Briefs for Oct. 12, 2014

A dd’s Discounts store has opened in the Westside South Shopping Center in Gretna. The Dublin, California, company, a division of Ross Stores Inc., features moderately-priced name-brand apparel, accessories, footwear and home fashions. The store gives dd’s Discounts about 150 locations in… Continue reading →

People in Business for Oct. 12, 2014

Brad Babin, Campus Federal Credit Union

Brad Babin has been named vice president of information systems at Campus Federal Credit Union. He was information technology manager/application support team at CRIF lending solutions in Baton Rouge. Miley… Continue reading →

Business Honors for Oct. 12, 2014

C. Kevin Hayes, of Adams and Reese

The Baton Rouge chapter of the Association of Fundraising Professionals has chosen the Baton Rouge High School Foundation as the Outstanding Philanthropic Organization of the Year for 2014. The fundraising professionals organization noted that the foundation launched a “Raise Our Standards High Campaign” to raise funds for technology, equipment, science, arts and… Continue reading →

Business Meetings for Oct. 12, 2014

BNI LOUISIANA WHEN: Friday, 11:30 a.m.-1 p.m. WHERE: Portobello Catering, 400 E. William David Parkway, Metairie SPEAKER: Tim Paulin, BNI Louisiana executive director, will help participants learn to deliver presentations that will help them make more money in their referral… Continue reading →

Harvey Gulf starts operations in Mexico

Harvey Gulf International Marine LLC has started up Harvey Gulf International Marine de Mexico S.A.P.I. de C.V. The initial area of operation will primarily be in Ciudad del Carmen, Mexico. However, the company will be able to operate in any other port facility locations along the Mexican coast to support operations. Recently approved changes in Mexican… Continue reading →

Plaquemines Parish getting $1.2 billion methanol plant

Castleton Commodities International LLC is investing $1.2 billion in a new methanol manufacturing plant along the Mississippi River in the Braithwaite area of Plaquemines Parish. The project will create 50 new direct jobs with an average annual salary of about $72,000, plus benefits. In addition, Louisiana’s economic development department estimates the project will result in 291… Continue reading →

Globalstar defends its business

Officials with Covington-based Globalstar mounted a vigorous defense of the satellite phone company Thursday, having seen its stock price plunge after an investment-management firm issued a report that says the satellite communications company’s stock is worthless. Jay Monroe, Globalstar chairman and CEO, said the Kerrisdale Capital Management report is “fundamentally flawed and wrong” and “mischaracterized facts” all… Continue reading →

Jefferson Parish economic group names deputy director

Lacey G. Bordelon, deputy director of the Jefferson Parish Economic Development Commission

The Jefferson Parish Economic Development Commission has named Lacey G. Bordelon as its deputy director. Bordelon joined JEDCO in 2007 as an economic development specialist before being promoted to director of economic development services. In her new role, Bordelon will direct JEDCO’s business retention and expansion program and be responsible for business attraction efforts. She… Continue reading →

Business Briefs for Oct. 5, 2014

The LSU AgCenter will offer an agritourism workshop from 8 a.m. to 3 p.m. Oct. 30 at the Hammond Research Station six miles east of Hammond at 21549 Old Covington Highway, which is La. 1067. Topics include how to create an agritourism venue, attract visitors and… Continue reading →

People in Business for Oct. 5, 2014

Chris Black, Beard Construction Group LLC

Ken Wells has been named president of the International Association of Geophysical Contractors in Houston. Wells is the founder of Lifeline Strategies, a safety and regulatory management consulting company in New Orleans serving the oil and gas industry.… Continue reading →