In the bank: Louisiana is slated to received $82 million of the nearly $188 million that the U.S. Department of the Interior will disburse in Gulf Mexico Energy Security Act revenue sharing funding. Four oil producing states—Louisiana, Mississippi, Texas, Alabama—and their coastal political subdivisions share the revenue that’s derived from oil and gas leases on the Outer Continental Shelf. The state will use the funds for coastal restoration projects. Read more.
Trimming the fat: Local Subway franchisee Andy Kimbrell says he doesn’t know if any restaurants in Baton Rouge or the surrounding area are among the 500 Subways set to close around the nation this year, but he knows his two shops are safe. As part of an effort to expand overseas, Subway confirmed the closures on Wednesday. Last year, more than 800 Subways also closed. Kimbrell says closing stores in some locations may not be a bad idea for the company, which saw a 4.4% drop in domestic sales last year. “It may have been a good location for 20 to 30 years, but things change. Neighborhoods change. Neighborhoods go bad,” he says. Subway has 46 locations in the Baton Rouge area.
Shedding: Ford Motor Co. says it will shed most of its North American car lineup as part of broad plan to save money and make the company more competitive in a fast-changing marketplace. The changes include getting rid of all cars in the region during the next four years except for the Mustang sports car and a compact Focus crossover vehicle, CEO Jim Hackett says. The decision, attributed to declining demand and profitability—means Ford will no longer sell the Fusion midsize car, Taurus sedan, CMax hybrid compact and Fiesta subcompact in the U.S., Canada and Mexico. Read more.
