Helping hands: Qualifying victims of the August flood are being invited to Cortana Mall later this week to receive new items such as clothing, footwear, bedding and more. More than $3 million worth of merchandise has been donated by two dozen manufacturers and retailers for the “Red Stick Retail Shop” event, which is being put on by national charity K.I.D.S./Fashion Delivers in partnership with Rep. Ted James, the Urban League of Louisiana, Louisiana Workforce Commission, Baton Rouge Area Foundation and Cortana Mall. To qualify for the event, flood victims must have a valid photo ID and a letter from the Federal Emergency Management Agency. The event will take place between Thursday and Sunday at entrance No. 2 of Cortana Mall, 9401 Cortana Place. Shopping hours are from 2 to 7 p.m. on Thursday; from 11 a.m. to 7 p.m on Friday and Saturday; and from 1 p.m. to 5 p.m. on Sunday.
Going up: Premiums under President Barack Obama’s healthcare law are set to skyrocket an average of 22% in 2017, CNN Money reports. The price hike is the latest blow to Obama’s Affordable Care Act. Insurers are raising prices and downsizing their presence on the exchanges as they try to stem losses from sicker-than-anticipated customers. The benchmark silver plan—upon which federal subsidies are based—will cost an average of $296 a month next year. Most consumers, however, are shielded from these price hikes, especially if they return to the exchanges to shop after enrollment opens Nov. 1. Some 85% of Obamacare enrollees receive federal subsidies, which can lower their premium to less than 10% of their income. Read the full story.
At a loss: Baker Hughes reported a $429 million net loss for the third quarter after cutting an additional 2,000 jobs, FuelFix.com reports. The workforce reductions for the Houston oilfield services company are continuing beyond many other competitors because Baker Hughes was limited in its ability to make cuts while its failed merger with Halliburton remained pending. That deal collapsed in the beginning of May amid antitrust opposition from the Justice Department. Baker Hughes’s quarterly loss compares to a $159 million loss during the same time last year, but also to a $911 million loss during the second quarter of this year. Read the full story.
