Today's Headlines / Thu, Aug. 14, 2008
Realtors say Capital Region home prices drop
The median home price in metro Baton Rouge dropped 6.1% during the second quarter compared with a year ago, according to figures released by the National Association of Realtors. According to NAR, the median sale price for a home in Baton Rouge was $174,700 in the second quarter of 2007, compared with $164,000 during the same period this year. That’s less than the 7.6% drop that occurred nationally, but worse than the 4.1% fall that happened across the South over the past year. Shreveport-Bossier City was one of 35 metro areas that actually experienced an increase in median sale prices, going up 3.9% to $142,500, while New Orleans experienced a 1.9% drop to $162,900. To read the report, click here.
Miles signs deal to endorse Raising Cane's
LSU football coach Les Miles has signed a three-year deal to become a spokesman for Raising Cane's Chicken Fingers. The campaign launches this week with print, radio and outdoor advertising, including a spot featuring Miles and his 14-year-old daughter, Kathryn. In a statement, Miles says he and his family are fans of Cane's, so the partnership was a natural fit. "Raising Cane’s is a great, local company with a superior product and great people," Miles says. His spots will be used in advertising across the state. Plans are to launch TV commercials featuring the coach at the start of the 2009 football season.
Duvic's bistro closes
Brent Anthony's Bistro, a restaurant that opened last month adjacent to Duvic's, has closed. Scott Dardenne, who co-owned the bistro with his brother, Mike, says he shut down the business after a month because of confusion and differences of opinion with bar owner Frank Duvic. "It was in the best interest that I get out while I could," he says. There are rumors that Duvic is looking to sell the popular bar by the Perkins Road overpass; repeated attempts by Daily Report to reach him for comment have been unsuccessful.—Timothy Boone
The jobs that make people jealous
Have you ever looked at someone else’s line of work and thought, “That’s a cool job”? The cover package in the new issue of Business Report takes a look at seven cool careers that are available in the Capital Region, including forensic anthropologist, record producer, scuba instructor, sommelier and video game engineer. To read how they broke into these industries, what they like about their careers and what makes these careers cool, click here. Do you think you have a cool job? Do you wish you had a cool job? Send comments to editors@businessreport.com.
Jones Walker expanding into Alabama, Atlanta
Jones Walker is buying a Mobile, Ala.-based law firm, a move that will make it one of the largest regional law companies in the South. The company is joining with Miller Hamilton effective Sept. 1, a move that will give Jones Walker offices in Birmingham, Mobile and Montgomery in Alabama and Atlanta. William Hines, managing partner of Jones Walker, says the deal will expand the company's banking practice as well as allow them to better serve International Shipholding Corporation, a client that relocated to Mobile. The merger will give Jones Walker 32 more attorneys, increasing its staff to 272.
La. foreclosures nearly four times less than national average
One out of every 1,799 Louisiana households faced foreclosure in July, almost four times less than the U.S. average of one foreclosure filing for every 464 households. Louisiana ranked 39th out of all states and the District of Columbia for foreclosures, according to the monthly RealtyTrac report. The low ranking came after RealtyTrac says it changed its data collection for the state, a move that showed an 83% jump in the number of filings since July 2007. The foreclosure rates in the Capital Region were even lower than the state average: There was one filing for every 3,122 homes in East Baton Rouge Parish, and one per every 38,163 homes in Ascension and Livingston parishes. Orleans Parish had the highest foreclosure rate in the state, with one filing for every 424 households.
Louisiana Looking Up set for next month
The fifth annual "Louisiana Looking Up" program, which showcases successful entrepreneurs, will be held at 1:30 p.m. on Sept. 25 at LSU's Lod Cook Alumni Center. Participants include Stephen Moret, Louisiana Economic Development secretary; Dennis Blunt, a partner with Phelps Dunbar and president of 100 Black Men; and Lee Michael Berg of Lee Michaels Fine Jewelry. Louisiana Looking Up is sponsored by the Flores MBA Alumni Association. Admission is $50 for alumni association members, $75 for non-members. To register, click here.
Olympics: Redeem Team advances to medal round
Greece isn’t the word: Batting away balls or swatting shots on seemingly every possession late in the second quarter, the U.S. men’s basketball team broke open a close game and went on to a 92-69 victory over Greece this morning to clinch a spot in the medal round. Kobe Bryant and Chris Bosh each scored 18 points for the United States (3-0), which moves on to a matchup of Group B unbeatens Saturday against world champion Spain. The winner will earn the group's top seed for the quarterfinals. Greece stunned the Americans two years ago in the semifinals of the world championships, shredding the U.S. defense for 63% shooting with clinical execution of its pick-and-roll offense in a 101-95 victory. … Federer upset by Blake: Roger Federer's bid for his first Olympic men’s singles tennis medal ended when he lost to American James Blake. With the sort of lackluster performance once unthinkable for Federer, he was eliminated in the quarterfinals 6-4, 7-6 (2). The upset was a stunner in that Blake had won only a single set in their previous eight matches. Serena and Venus Williams were also eliminated. ... Heavy medal: China leads the medals count with 35 (22 gold, eight silver, five bronze), followed by the U.S. with 34 (10, 9, 15), Australia 16 (5, 4, 7) and South Korea 16 (6, 7, 3).
News roundup: Russian billionaire denies interest in buying Hummer … Baton Rouge General makes top 25 IT list
Indian automakers also in the running: Russian Machines, the auto manufacturing business owned by billionaire Oleg Deripaska, says it is not "strategically interested" in buying the Hummer line from General Motors, according to Reuters. Sources told the news service that GM and Russian Machines had preliminary talks on a possible Hummer deal. Maga International, a Canadian auto parts maker, could be involved in production if Deripaska buys Hummer. GM also held exploratory talks on Hummer with Mahindra & Mahindra, an Indian automaker. High tech hospital: HealthImaging and IT Magazine ranked Baton Rouge General among its "Top 25 Most Connected Healthcare Facilities" in the nation. The General made the list based on diagnostic and treatment technology at its Pennington Cancer Center, enumerating several imaging and IT assets. The General was the only Louisiana hospital in the rankings. CEO Bill Holman says the ranking isn't surprising given the hospital has made a "huge investment" in IT.
