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This Week's Headlines / Wed, March 10, 2010
Landry announces candidacy for congressional seat
Jeff Landry
Republican Jeff Landry of New Iberia is running for the 3rd Congressional District seat being vacated by Charlie Melancon. Landry - who co-founded an oil-and-gas-based small business and works as a business attorney - began raising money for the seat in December and quickly amassed the largest total of any Republican candidate in or considering the race. He reported having more than $115,000 cash on hand as of Dec. 31. He was the featured guest speaker at the Louisiana Republican Party’s statewide breakfast recently and he met with Republican leaders in Washington, DC including the Chairman of the National Republican Congressional Committee, Republican Congressman Pete Sessions of Texas, and staff who are responsible for recruiting and coordinating Republican campaigns for Congress. Additionally, while in Washington, Landry met with Congressman Eric Cantor, R-VA, the Republican Whip in the House, and Congressman Tom Price, R-GA, the leader of the conservative caucus in the House.
The push to link retirement and corruption
A state senator has filed legislation that would allow for the public retirement fund plan of an elected official to be raided in an effort to recoup any money that might be owed to another party as a result of any related felony conviction. It’s one of many bills connecting corruption and retirement cash that’s expected to be debated during the upcoming regular session. Present law provides for a general exemption from seizure, but Sen. Butch Gautreaux, D-Morgan City, says more accountability is needed. “I think that if there’s a felony in relation to public service, it’s probably a loss to someone or to the government,” Gautreaux says. “Plus, this helps make the victims whole.” His Senate Bill 13 states that retirement funds “may be subject to seizure or garnishment for payment of any restitution or fine imposed upon conviction of or a plea of guilty or nolo contendere to a felony associated with the elected official's service for which such retirement benefit was earned or accrued.” If approved, it would take effect on July 1. To read the full story, click here. - Jeremy Alford.
Downtown Lafayette gets special tax-free designation
The Acadiana Center for the Arts is hosting a ceremony in honor of downtown Lafayette being designated as a Louisiana Cultural Products District by the State Department of Culture, Recreation and Tourism. The event is set for 4 p.m. Saturday. Original works of art including visual arts and crafts sold in the district are now exempt from the state sales tax of 4%. In addition, this designation expands tax credits for the rehabilitation of historic structures and properties located within cultural products districts. "Creating this Cultural Products District will bring even more young, creative people to downtown Lafayette to start a business, open a gallery or develop live/work/studio space," says Gerd Wuestermann, executive director of the Acadiana Center for the Arts. With more than a dozen galleries, four museums and the Acadiana Center for the Arts theater, downtown Lafayette is already known as a hub of cultural activity in Acadiana. For more information or to RSVP to the ceremony, call 337-233-7060 or email here.
Louisiana moves up in economic development rankings
Louisiana moved up 12 spots in Site Selection magazine's economic development rankings. The state was ranked 15th for national projects, a position based on private sector, non-retail deals that represent capital investments of more than $1 million or at least 50 new jobs. In 2008, Louisiana was ranked 27th on the Site Selection list. On a per capita basis, Louisiana's numbers were even more impressive, jumping from 33rd place in 2008 to ninth in 2009. "By any reasonable measure, Louisiana's economy has outperformed the South and the U.S. since the beginning of the national recession, and we're just getting started," says Stephen Moret, LED secretary.
Two Saints players sue their former teammate
Jeremy
Shockey
New Orleans Saints tight end Jeremy Shockey and former defensive lineman Charles Grant are suing ex-teammate Kevin Houser over investments worth hundreds of thousands of dollars tied to a now-defunct movie studio. Shockey and Grant paid for what they thought would be state movie industry tax credits returning $1.33 for each dollar they invested. State officials say Wayne Read, the CEO of the bankrupt Louisiana Film Studios LLC, never applied for the credits and the money was never returned to investors. Louisiana’s film tax credit program is designed to promote the movie industry. In a suit filed last week in federal court, Grant claims he paid Houser, a licensed securities broker, $425,000 in January 2009 and was to receive $585,000 in tax credits. Shockey claims he paid $85,000 and was to receive $113,000 in credits. But the lawsuit says Houser, then the Saints' long snapper, never produced the tax credits and kept an unspecified commission or finder’s fee for the purchases. It also alleges he failed to disclose the studio owed nearly $700,000 to a construction company co-owned by his wife, Kristen. Houser’s attorney, Jimmy Castex, stood by previous statements that the Housers — who paid $125,000 for tax credits themselves and are owed for the construction work — "are victims of Wayne Read, just like Grant and Shockey." The suit before U.S. District Judge Ginger Berrigan seeks triple damages under Louisiana’s unfair trade practices law, and class-action status for anyone who paid for the tax credits through Houser. Attorneys estimate there could be as many as 100 buyers, including Saints quarterback Drew Brees and former Saints star Archie Manning.
UnConference isn't your ordinary business gathering
This isn't your ordinary business gathering. Later this month, entrepreneurs in New Orleans will be gathering for BizCamp, otherwise known as an UnConference. The event - sponsored by 504ward - is a casual conference where entrepreneurial successes and young go-getters get together, figure out what they want to talk about, and move from there. It's part of New Orleans Entrepreneur Week, hosted by the Idea Village from March 20-27. The event brings together students from top business schools around the country - including Berkeley, Kellogg School of Management and Stanford Graduate School of Business - and employees from some of the nation's biggest tech companies, including Google, Cisco, Deloitte, and salesforce. BizCamp offers a complimentary lunch, a set from DJ Soul Sister, and plenty of chances for networking and learning. For more information about BizCamp, click here. For details about Entrepreneur Week, click here.
Technology Awards recognize innovation
Louisiana's most innovative companies and individuals will be honored March 19 at the 2009 Governor's Technology Awards. The luncheon event, co-sponsored by Louisiana Technology Council and the Greater Baton Rouge Business Report, will be held at Crowne Plaza. Open to nominees statewide, it is designed to recognize and celebrate the accomplishments of companies and individuals making innovative strides in 2009. The LTC will present the winners on March 19th in the following categories: Technology Leader of the Year Award; Technology Company of the Year Award; University Technology Leader of the Year Award; Innovator of the Year Award; Rising Star of the Year Award. Keynote speaker is Dr. Loren Scott, president of Loren C. Scott & Associates Inc. Cost is $50 per person or $800 for a sponsor table, including lunch. To register for a table or for more information before the March 18 deadline, click here. For a list of nominees, click here.
Chamber Southwest prepares for Expo
The Chamber Southwest Louisiana is gearing up for its annual Expo, featuring 100 booths representing all of the region's major industries and small businesses. The event is set for 11:30 am. to 5 p.m. March 25 in the Lake Charles Civic Center. Keynote speaker for the luncheon is Jeff Kleinpeter of Kleinpeter Dairy. From 1-5 p.m., participants can attend seminars on guerrilla marketing, social media marketing, business loans and environmental concerns. Cost is $30, which includes lunch and attendance at all seminars. For more information, click here.
Poll: The recession is still on
Few 10/12 poll respondents are seeing a light at the end of the economic tunnel. Asked whether they believe South Louisiana is out of the recession, 46% indicated they believe the region is still in a recession, and 24% said they believe it will get worse before it gets better. Some 22% said they believe South Louisiana is recovering, while 5% are convinced the recession passed us by altogether. The remaining 1% don't know. The 10/12 poll is not a scientific survey. It reflects the responses of the people who choose to participate. This week's question: How do you feel about the $15 hike in the cost of a driver's license?
Viewpoint: Who dat say dey gonna raise dem fees?
Mike
Edmondson
If a visit to the Office of Motor Vehicles isn’t taxing enough for the average motorist, LaPolitics columnist John Maginnis writes, starting this week it gets much more expensive. Fifteen dollars gets tacked onto the cost of a four-year drivers license, raising it from $21.50 to $36.50. News of the 70% increase came by way of a mundane press release from State Police Commander Mike Edmonson, citing the cost of federally mandated enhanced identification services. His phone started ringing right away. Among the most surprised were state legislators, who were under the distinct impression that state fee increases required their two-thirds approval. Turns out, permission was indeed granted by the Legislature, 17 years ago, when it allowed the State Police to add the $15 fee. While holders of commercial licenses began paying the added charge right away, governors since Edwin Edwards have had the state agency eat the cost rather than pass it along to regular drivers. Until Bobby Jindal, who, though he promises no new taxes, takes a different attitude on fees, especially when he doesn’t have to ask this Legislature for the extra $11 million to $13 million. Unless lawmakers take direct action to repeal the fee, the most significant issue they will debate in the upcoming session affecting motorists will be over the design and cost of a new Who Dat Nation prestige license plate, which will be trickier than it sounds. To read the full column, click here.
