On the way up: Gov. Bobby Jindal was among the local, state and company officials who gathered at the IBM technology center under development at 100 North St. to mark the “topping off” ceremony, which signals the last beam has been placed atop the structure. Completion on the project is expected in May next year. When it’s finished, the $55 million mixed-use complex will include an eight-story office tower, 11-story apartment building and parking garage overlooking the Mississippi River.
On the way down: Commissioner of Insurance Jim Donelon announced today that rates for workers’ compensation insurance will decrease in Louisiana on May 1 next year. In a press release, Donelon says he recently approved a 2.4% decrease in workers’ compensation loss costs submitted by the National Council on Compensation Insurance, a national organization which analyzes workers’ compensation data and files loss costs or rates in Louisiana and 34 other states. Most workers’ compensation carriers in Louisiana use the NCCI annual loss cost filing to formulate their insurance rates.
From a foreign window: Foreign buyers of U.S. Treasury securities trimmed their holdings by a small amount for the second straight month in October. The Treasury Department says in its monthly report issued today that foreign holdings dropped 0.1% to $6.06 trillion, a decline of $7.5 billion. That followed a drop of $200 million in September, which came after holdings had climbed to a record high of $6.07 trillion in August. The Associated Press has the full story.
