Former Saban house once again under contract

The Highland Road estate that once belonged to former LSU football coach Nick Saban is once again under contract and set to close by Nov. 15. Quita Cutrer, an agent with Burns & Co. who has the listing for the estate, says an out-of-town buyer plans to purchase the home and the 15 acres behind the property that face Burbank Drive. Cutrer says the buyer plans to keep the estate as a family home and have the adjoining land as "a big backyard." There had been speculation in the past that the adjoining property could be turned into an upscale subdivision. The 6,412-square-foot home, the 4.5 acres on which it sits and the adjoining land have an asking price of $4.8 million. This is the second time this year the Saban estate has been under contract. A deal to sell the property on April 1 fell through because of financing problems. Cutrer says a new buyer is in line to buy the home. "I'm hoping it will close this time," she says. Jim Tanner bought the home for $2.75 million in 2005 after Saban left Baton Rouge for the NFL. Tanner then exchanged the property in December 2007 before buying the house back in April 2008 for $2.8 million. Read the rest of Real Estate Weekly here.—Timothy Boone

Editor: What Saban, Alive have in common

Alive is an important piece in the puzzle in making Baton Rouge a more progressive and dynamic city, says Business Report Executive Editor JR Ball. But it alone won't make us America's next great city. "Think of it this way: Paying millions for a football coach like Nick Saban only works if the program and players around him are also championship caliber," Ball says. "The same can be said of Alive. It alone will not make us America’s next great city. (Mayor Kip) Holden’s administration and its key supporters have vowed to work for the other necessary changes." Ball says he's willing to take backers at their word and support the bond issue. Read his column here. Send comments to editors@businessreport.com.

Landrieu endorses bond issue

U.S. Sen. Mary Landrieu has come out in favor of Mayor Kip Holden's $901 million bond issue. Landrieu, D-New Orleans, says Alive, which would be the centerpiece attraction of the issue, will drive economic growth and provide educational opportunities for families and students. "The passage of this bond issue puts Baton Rouge in [a] position not only to be an economic anchor for Louisiana, but a model for smart growth for cities around the United States,” she says in a statement. Landrieu's brother, Lt. Gov. Mitch Landrieu, endorsed Alive and the bond measure last week.

Maginnis: Tributes miss the funny side of Dave Treen

Most of the memorials to the late Gov. Dave Treen centered on his honesty, integrity and kindness. But John Maginnis says there was another side to Treen, who died Thursday at the age of 81. "Dave Treen rightly will be remembered as a man of class and character," Maginnis says. "But also he was a character, and rarer still, an honest Louisiana politician who mattered." Not only was Treen the father of the modern Louisiana Republican Party, but he could be the life of the party. Read Maginnis' full column here.

(John Maginnis publishes LaPolitics Weekly, a newsletter on Louisiana politics, at LaPolitics.com.)

Legislative auditor retiring this month

Legislative Auditor Steve Theriot, whose office reviews the financial books of state and local government agencies, is retiring effective Nov. 20. Theriot's top assistant, Daryl Purpera, will work as the interim legislative auditor until lawmakers choose a permanent replacement. Theriot, a certified public accountant, was selected by lawmakers for the auditor's post in 2004. He was Democratic member of the state House from Marrero from 1988 until 1996.

Kennedy defeated on earmark ban

A government cost-cutting panel has rejected a bid by state Treasurer John Kennedy to cut all legislative earmarks for nonprofits and other nongovernment agencies from the budget. The Commission on Streamlining Government, which is looking at ways to shrink state spending, voted 8-2 today against Kennedy's idea. Kennedy says much of the spending is a waste, and he says the worthwhile organizations that deserve funding should contract through state agencies to provide services rather than request special treatment from a legislator. But lawmakers on the commission and Gov. Bobby Jindal's top budget adviser argued the existing earmark process provides transparency by requiring the groups to fill out detailed forms before receiving state cash and submitting to audits of their spending.

GM posts first monthly sales gain in almost two years

GM reported its first monthly gain in U.S. sales in almost two years while Toyota and Ford also improved, a sign the auto industry it starting to crawl back from a yearlong slump. Demand for new cars and crossovers in October fueled better results for GM and Detroit rival Ford. GM's sales rose 4% from October 2008, while Ford notched a 3% gain. Japanese-rival Toyota says its sales edged up less than a percent. Less rosy news came from Chrysler, whose sales fell 30%, though they improved from September. Automakers had said October would be a test of how strong the market was without any effect of the government's Cash for Clunkers program. The industry staggered through a tough September, hurt by the collapse of demand following the clunker rebates that fueled a sales surge over the summer. The mood was in contrast to a year ago, when consumers were frightened away from showrooms by the early effects of the financial meltdown and credit freeze. This October, Ford got a boost from new products launches and gained U.S. market share for 12th time in 13 months as it critically acclaimed vehicles continue to grab buyers from rivals. Ford has also benefited from consumer goodwill because it didn't take government bailout money or go into bankruptcy, as GM and Chrysler did.

News roundup: Marathon starting up Garyville refinery ... HGTV still looking for B.R. 'House Hunters'

On track to open by year's end: Marathon Oil Corp. says some of the units at its Garyville refinery expansion are starting up. The refinery expansion should be complete by the end of the year, but the facility shouldn't be at full output until the spring, because of a planned turnaround on existing units, Marathon officials disclosed during a conference call with analysts and reporters. The $3.4 billion project, which started in 2007, brings the refining capacity of the plant from 256,000 barrels of oil a day to 436,000 barrels.

On the hunt: HGTV is still looking for potential Baton Rouge homebuyers and Realtors to appear on House Hunters, which follows buyers and their agents as they search for the right home. High Noon Entertainment, which produces the popular show, is looking for homebuyers who are actively searching for a house or closing within the next month or so on a property within 90 minutes of Baton Rouge, Lafayette and surrounding areas. That's a change from High Noon's original request for people who were set to close on a house in a month or so. Marcia Neville, an associate producer, says this changes the dynamic of House Hunters, since participants might not necessarily end up buying a house. To learn more about House Hunters, click here for the HGTV site and here for the High Noon site. To apply, contact Neville by phone at (303) 712-3209 or by e-mail at mneville@highnoontv.com.