Legislative session winding down
Lawmakers worked into the waning hours of the legislative session today on a final compromise version of the $28 billion budget that would include fewer cuts to colleges and health services than were proposed by Gov. Bobby Jindal. The contentious nine-week session largely was defined by the state's budget woes and the sharp philosophical disagreements between the House and Senate over how to cope with a state general fund revenue drop of $1.3 billion in the 2009-10 fiscal year. House and Senate leaders say they are close to a final budget deal and were optimistic they would get a spending plan complete by the 6 p.m. deadline when the session must shut down. The new fiscal year begins next week, and lawmakers are haggling over the depth of cuts to higher education, health care, tourism programs and agriculture services. Also being negotiated is the fate of the pet projects lawmakers want funded in their local districts. Most of the outstanding issues today were financial, including decisions on next year's budget, a surplus spending plan and a slew of tax breaks. The budget bills were all tied up in legislative compromise committees.
Bayou Country Superfest a big step closer to reality
The Bayou Country Superfest, a two-day music festival slated for Memorial Day weekend 2010, took a major step toward fruition with today's unanimous vote of the Baton Rouge Area Convention and Visitors Bureau to commit up to $300,000 toward the event. Quint Davis, CEO of Festival Productions Inc. New Orleans, which puts on the New Orleans Jazz & Heritage Festival and the Essence Music Festival, is planning the event, which will be held in Tiger Stadium. While the lineup of performers and ticket information won't be released until the fall, the event will feature country music stars on the level of Kenny Chesney, George Strait, Taylor Swift, Carrie Underwood and Keith Urban. AEG Live, the second-largest concert promoter in North America, is promoting the event along with Davis. AEG has exclusive deals with well-known performers such as Chesney, Bon Jovi and Paul McCartney. Davis said at today's CVB meeting that the event will mean not only a $23 million economic boost for the Baton Rouge economy, but a rebranding of the city as a regional weekend destination. For a full version of the story, click here.—Steve Clark
B.R. still gaining jobs
The number of non-farm jobs statewide may be falling, but metro Baton Rouge is still adding jobs, according to the latest numbers from the Louisiana Workforce Commission. Preliminary numbers show there were 376,000 jobs in metro Baton Rouge in May, compared with 374,700 in May 2008. Statewide, the number of jobs fell by 15,700, to 1.93 million. The Capital Region was the only metro area in the state to add jobs in May, thanks to gains in the construction and retail trade sectors. The local unemployment rate was 6%, compared with the state average of 6.3% and the national average of 9.4%. Houma-Thibodaux had the lowest unemployment rate in the state, at 4.3%.
La. gets top ranking from watchdog group
Here's a switch: New laws requiring state lawmakers to annually report details on their income earned Louisiana the No. 1 ranking on a list put out today by a Washington-based government watchdog group. Louisiana had placed 44th in the previous rankings released by the Center for Public Integrity in 2006. But the requirements that state lawmakers imposed on themselves last year at the behest of Gov. Bobby Jindal moved the state all the way to the top of the new rankings. Those new financial disclosure laws also cover the governor and numerous other public officials. Soon after the laws were passed, the CPI said the state would likely be among the top states in the 2009 lawmaker disclosure rankings. Jindal lauded the latest rankings, saying the financial disclosure laws his administration shepherded through the Legislature soon after he took office are a major part of his efforts to bring new industry to the state. "Just days after coming into office, we set out to fulfill our promise to completely transform the ethics laws in our state to encourage increased business investment and job creation so our children do not have to leave home to pursue their dreams," Jindal said in a news release. While Louisiana received an “A” grade in the report, 20 states had failing grades.
FCC approves CenturyTel-Embarq deal
CenturyTel Inc. says it expects to close its acquisition of Embarq Corp. Wednesday following approval of the deal by the Federal Communications Commission. The FCC action announced today was the last needed regulatory approval. CenturyTel, the Monroe-based telecommunications provider, said the company's new name will be CenturyLink. The company's stock will continue to trade under the symbol CTL. CenturyTel announced last year it was buying Overland Park, Kan.-based Embarq, the nation's fourth-largest traditional telephone company. The deal earlier was approved by all 33 states in which the two companies operate.
PetroQuest prices public offering
Independent petroleum producer PetroQuest Energy Inc. has priced a public offering of 10 million shares of its common stock at $3.50 per share. Underwriters have a 30-day option to buy up to 1.5 million additional shares to cover over-allotments. Lafayette-based PetroQuest says it is expects to close the offering around Tuesday. The company plans to use the money for general purposes, including capital expenditures covering drilling programs.
Sports roundup: Private dollars paid for Miles' trips to Omaha ... Hornets eye Thornton ... ESPN says LSU receiver could be out for year ... Black, Cutera to represent Tigers at SEC Media Days
Air Miles: LSU football coach Les Miles flew between Omaha, Neb., and Baton Rouge for Tuesday's and Wednesday's College World Series games between the Tigers and the Texas Longhorns. Private dollars were used to pay for Miles to travel between the two cities, says LSU Athletics spokesman Michael Bonnette. LSU men's basketball coach Trent Johnson also attended Tuesday's game. Bonnette says LSU is pleased that Miles and Johnson attended the CWS. "It generates positive national publicity for LSU when coaches are shown on televised games supporting other teams at championship events," Bonnette says. ESPN cameras frequently showed Miles during the games Tuesday and Wednesday, and he even gave an interview from the stands.
Just moving down I-10? LSU's Marcus Thornton is one of several players the New Orleans Hornets are considering choosing in tonight's NBA Draft, the Times-Picayune reports. The Hornets are picking 21st in the draft and are looking for a power forward, point guard or combo guard. Other players the Hornets are interested in include Tyler Hansbrough and Wayne Ellington, both from North Carolina and Virginia Commonwealth point guard Eric Maynor. Sports Illustrated's most recent mock draft has the Hornets taking DeJuan Blair, a power forward from Pittsburgh. The magazine also says the team may trade the pick as part of a payroll cutting move.
On the shelf: Tim Molton, an LSU wide receiver who was poised to be a key member of the Tigers offense, hurt his knee and could miss much of the upcoming season, reports ESPN.com. Molton, a redshirt freshman, sustained the injury during an off-season workout. His injury will force the Tigers to rely more on the highly touted Rueben Randle and could mean Russell Shepard may be used as a receiver. Read the ESPN story here.
Football is just around the corner: Offensive tackle Ciron Black and linebacker Jacob Cutrera are the two Tigers who will represent LSU at SEC Media Days in Hoover, Ala., next month. Black, Cutrera and Miles are set to meet with reporters July 24, the final day of the three-day event.
