Monsour 'ideal person' to lead authority

Walter Monsour, the first president and CEO (and the first employee) of the East Baton Rouge Redevelopment Authority, is “the ideal person to lead us in this formative stage,” says authority board chair John Noland. Monsour will be paid a base salary of $265,000 with $100,000 in benefits, including his health plan, automobile allowance, 401(k) and a tax-deferred trust. Noland says the package is comparable to what Monsour could get in the private sector. “Some people will view this as excessive,” Noland says. “You get what you pay for.”

Monsour is known in the community and has the confidence of Mayor Kip Holden, for whom he served as chief administrative officer for four years, Noland says. The East Baton Rouge Mortgage Finance Authority will provide $1 million for the redevelopment authority’s operations in 2009, and the Baton Rouge Area Foundation will contribute $100,000, Noland announced today. Monsour says he knows of “a few (funding) doors that have not yet been opened,” and says help for redevelopment might come from the Louisiana Recovery Authority, President Barack Obama’s administration and the U.S. Treasury’s New Market Tax Credits program.—David Jacobs

Lombardi: Prepping for cuts on little info is daunting

LSU System President John Lombardi says the task assigned by the Jindal administration of preparing plans for 2009-10 funding cuts among LSU institutions is challenging. Especially considering how little is known about how bad those cuts will wind up being, information that won't be available until the Legislature deals with the next state budget. Cuts to higher ed are projected to be between 18% to 30%, depending on what happens with state revenue. LSU's Baton Rouge campus is facing between $44 million and $71 million in cuts.

Proceeding on the assumption that 30% cuts will indeed be imposed means eliminating a huge chunk of university services and programs that will leave "students stranded," Lombardi said at this afternoon's LSU System meeting. On the other hand, some experts are saying the ultimate budget picture won't be nearly as bad. As a result, the system is struggling to comply with the administration's order "responsibly and effectively" while at the same time attempting to minimize the damage to its institutions until it becomes clear how deep the cuts will actually have to be. Lombardi said it's very unusual in higher education for institutions to have to prepare dramatic cuts for far-flung dates without full information about the magnitude of funding reductions.—Steve Clark

Mexican café to open downtown

Acapulco Mexican Grill is set to open soon on North Boulevard and start serving home-style food inspired by that famous Mexican coastal hotspot. For 20-something couple Mahdi Jalil and Christina Casas, Acapulco is their first foray into the restaurant business, although both have family ties—not to mention helping hands—in the industry. Their café will serve breakfast and lunch daily, dinner and late-night dining on Fridays and Saturdays, and early afternoon lunch on Sundays.

Acapulco’s menu will offer familiar dishes—tamales, enchiladas, quesadillas and tacos—but will pull from its namesake’s zesty heritage. For example, an occasional lunch special will be roasted chiles relleno stuffed with white Mexican cheese and grilled beef. Casas will do the cooking, using recipes her mom used at a family restaurant in Acapulco, including fresh flour and corn tortillas.

Casas’ parents have helped set up the restaurant, as well as her sister Lucia Casas, who operates a café and grocery in Denham Springs called Glorida Tienda. Jalil, who’ll manage the café, is a cousin of Alex Choumar, who operated Grape Leaf Café in the same location until its recent closure, and Alex’s brother Moe Choumar, who runs Subway a few doors down. Will family competition get heated? Not likely. “All of us can get a piece of the cake,” Casas says. Plans are to open Acapulco Mexican Grill within the next week or two.—Tom Guarisco

Lumber company had second thoughts about Walker store

Stine Lumber nearly halted its plans to build a $14 million store in Walker. President/CEO Dennis Stine told a gathering this afternoon at the Livingston Economic Development Council the company reconsidered the project after the national economy showed its first signs of slowing down. "We questioned whether we should proceed with this project," Stine says. "Bear Stearns had just gone under, and we started having second thoughts about all the investment." Parish President Mike Grimmer apparently convinced Stine to keep going. "He started talking about how they could assist us with the enterprise zone," Stine says of the state tax-credit program for hiring workers within a designated area. "He said, 'We can do this. We need you here.' He was very persuasive, and he turned us around."

Stine says Livingston won out over the other parishes the company was considering because market research indicated $41 million in potential home improvement business and only one other existing warehouse store—a Home Depot in Denham Springs. Stine, the largest Louisiana-based home improvement company, has 10 locations around the state and in Mississippi. The 100,000-square-foot Walker store, set to open at the end of March, will have 80 employees. "I think we're in the right place at the right time," Stine says. "Mortgage rates are at their lowest in 30 years, lumber prices are at their lowest in 30 years, and Livingston Parish is going to continue to grow."—Penny Brown Font

Clear Channel slashes jobs

CC Media Holdings Inc., parent of Clear Channel Communications Inc. and Clear Channel Outdoor Holdings Inc., said it has eliminated about 1,850 full-time jobs, or 9% of its total work force, in an effort to cut costs. The company says in a filing with the Securities and Exchange Commission that the move will lower fixed costs by about $350 million a year. Clear Channel owns 1,200 radio stations, including five in Baton Rouge. Officials referred questions about potential local layoffs to the company's San Antonio offices. Clear Channel officials in San Antonio say they were deluged with media calls and didn't know when they would be able to respond.

Anderson rejoins LSU board

Ronnie Anderson of Ethel has been appointed to the LSU Board of Supervisors. Gov. Bobby Jindal appointed Anderson to the board as one of the representatives of the 6th Congressional District. Anderson, who owns Anderson Farms, is the president of the Louisiana Farm Bureau Federation Board and a former president of the LSU Board of Supervisors.

Hub International acquires Liberty Mutual insurance business

Hub International Limited plans to acquire Liberty Mutual's middle market commercial property and casualty insurance business. Terms of the deal were not disclosed. Liberty Mutual has about 150 clients in Louisiana, such as contractors, distribution companies and grocery store chains. "Liberty Mutual's lead line is workman's comp, so this will round out what they offer to clients," says Shaun Norris, Hub's chief sales officer for the Gulf South.

Consulting firm studies need for adult education program

An initial study of the Capital Region to test the market for a bachelor's degree completion program found "moderate demand" for such a program, though the potential target market is "significant." The study was done for LSU's continuing education department by Boston-based higher education research and consulting firm Eduventures Inc. Bachelor's degree completion programs are designed for working adults who attended college without graduating but want to complete their bachelor's, or those who've earned a two-year associate's degree but want to get their bachelor's.

Though several regional competitors—Tulane and Nicholls State, for instance—offer bachelor's completion programs or some type of adult-oriented undergraduate degree programs, none of them target East Baton Rouge and surrounding parishes, according to the report.

Even so, the competition presented by the existing programs might make it challenging for a new program from LSU to try to break into the market. On the other hand, employer feedback indicates a preference for a bachelor's degree completion program that includes general business courses, while the only institution in the region offering an adult-focused bachelor's degree program focused on business is the for-profit University of Phoenix-Louisiana.

The report recommended that any LSU bachelor's completion program should be 100% online or a hybrid of online and live classroom in order to differentiate itself from competitors. To be successful, the program should also feature competitive tuition rates compared to regional offerings and have a clear Web-based marketing message to attract potential students, according to the study.—Steve Clark

Cox adding prime-time shows to OnDemand

Fans of shows such as Lost, Grey's Anatomy and Nip Tuck can rejoice knowing they'll never have to worry again about missing a new episode. Cox has added selected primetime programs from ABC, NBC, Cartoon Network, FX, TBS and TNT to its OnDemand service in Baton Rouge and Acadiana. The episodes will be available for viewing the day after they air. Officials say the service is a fallback for customers who forget to program their DVRs to record their favorite shows. Cox is working to add other networks and series to the service.

Rodin’s 'The Thinker' on its way to the city

"Rodin: A Magnificent Obsession" comes to the LSU Museum of Art as part of a traveling exhibit of 65 bronze sculptures, including The Thinker, from the late B. Gerald and Iris Cantor private collection. The exhibit opens to the public at 1 p.m. Sunday, but MOA members get a sneak peek from 6:30 to 8:30 p.m. Saturday. The exhibit continues through April 19. Tickets are $8; discounts available for students, seniors, children and LSU faculty. What else is going on this weekend? The Jewish Film Festival returns to Manship, the Abita Pub Crawl winds through Chimes and Blue Mountain brings Americana to Chelsea’s. Plan your weekend with 225 Select by clicking here.

News roundup: Microsoft announces first-ever layoffs ... Senate panel approves Geithner ... Thain leaves Bank of America

A bad sign: Microsoft says it is cutting 5,000 jobs over the next 18 months—more than 5% of its work force—a sign of how badly even the biggest and richest companies are being stung by the recession. The layoffs appear to be a first for Microsoft, which was founded in 1975, aside from relatively limited staff cuts the software company made after acquiring companies. The company announced the cuts as it reported an 11% drop in second-quarter profit, which fell short of Wall Street's expectations. Microsoft shares plunged almost 11% in midday trading. The biggest names in the technology sector have been no stranger to layoffs lately. Giants such as chipmaker Intel and even Google are among the companies that have pulled back on jobs to hunker down in the recession.

Money man: The Senate Finance Committee today cleared the nomination of Timothy Geithner as treasury secretary despite unhappiness over his mistakes in paying his taxes. The committee approved the nomination on an 18-5 vote, sending it to the full Senate for a vote either Friday or next week. President Barack Obama is hoping for quick approval so that the point man for the administration's economic rescue effort can begin work. The committee vote came a day after Geithner appeared before the panel to apologize for what he called "careless mistakes" in failing to pay $34,000 in taxes earlier in the decade, when he worked at the International Monetary Fund. The nomination was expected to win approval by the full Senate, with many lawmakers saying that given the serious economic crisis facing the country, the new president deserved to have the services of a man of Geithner's abilities and experience.

Former Merrill Lynch exec leaves job: Former Merrill Lynch & Co. CEO John Thain resigned from Bank of America Corp. today following news that Merrill had moved up its year-end bonuses, paying them just before BofA completed its acquisition of Merrill and sought more government bailout money. The company gave no reason for Thain's departure. Bank of America spokesman Scott Silvestri issued a terse statement: "(BofA Chairman and CEO) Ken Lewis flew to New York today to talk to John Thain. And it was mutually agreed that his situation was not working out and he would resign." The bonuses to Merrill Lynch executives were also paid out as the company prepared to report a $15.45 billion fourth-quarter loss—a loss that led Bank of America to request and receive $20 billion in government bailout money. Merrill also received bailout funds.

Sports roundup: LSU moves up in prestige rankings ... Watch amazing buzzer beater shot ... New Alex Box getting into shape

Hold that Tiger: LSU ranks No. 13 in ESPN.com’s ranking of the best FBS programs since 1936. The Tigers are third among SEC schools—behind No. 6 Alabama and No. 12 Tennessee and ahead of No. 14 Georgia and No. 15 Florida. In compiling its rankings, ESPN.com assigned point values for certain successes (25 points for a national championship) and failures (minus-two points for a postseason ban). LSU ranked 16th from 1936-58, 9th from 1959-68, 10th from 1969-78, 12th from 1979-88, 15th from 1989-98 and 7th from 1999-2008. To check out the rankings, click here.

Caught on tape: South Carolina rallied from a five-point deficit in the final 35 seconds for a 70-69 victory Wednesday night over Florida. South Carolina’s Zam Fredrick took an on-target pass in stride from Mike Holmes and scored the winning basket just before the buzzer sounded. It was pandemonium at the Colonial Life Arena after Fredrick's shot went through. His momentum took him into the seats where several Gamecocks football players watched. Fredrick's teammates soon joined the celebratory scrum. To watch the final moments of the game, click here.

Play ball! The finishing touches are being made to the new Alex Box Stadium, and LSU officials told The Times-Picayune they're on track for its scheduled opening—if not even ahead. The Tigers will throw out the first pitch at the new ballpark at 7 p.m. on Friday, Feb. 20 against Villanova. LSU is ranked No. 1 in the Collegiate Baseball preseason poll. "How often do you get to move into a brand new stadium and ranked No. 1 in the polls?" asked baseball coach Paul Mainieri. Read the story here.