Public-private partnerships: Registration is open for “P3s: The Ins and Outs of Public Private Partnerships,” a symposium to be held from 1 to 6 p.m. on Tuesday, Jan. 9, at the Business Education Complex at LSU. The symposium is designed for state and local government agencies, private sector developers and others interested in learning about the use of public-private partnership in higher education, infrastructure and other projects. Mike Parker, U.S. infrastructure advisory leader of Ernst & Young Infrastructure Advisors, is the keynote speaker. This seminar is sponsored by the LSU E. J. Ourso College of Business and the Urban Land Institute’s Louisiana District Council. Registration costs range from $10 to $35 per person. Get more information.
Signed: President Donald Trump has signed into law a $1.5 trillion tax overhaul package. Trump touted the size of the tax cut, declaring to reporters in the Oval Office that “the numbers will speak.” The president said he was going to wait until after Jan. 1 to sign it, but changed his mind. The legislation provides generous cuts for corporations and the wealthiest Americans, and smaller ones for the middle class and low-income families. It is the first major overhaul of the nation’s tax laws since 1986, but far from the largest tax cuts in American history, as the president claims. Politically, it marks the Republicans’ first major legislative accomplishment of Trump’s presidency. Some estimates indicate the cuts could add to the nation’s soaring deficit.
Improving: The energy industry’s financial prospects could improve in 2018 if oil prices stay elevated, FuelFix.com reports. Citing a new report from Fitch Ratings, the online publication says the energy industry could default on 11% of its leveraged loans next year, down from 17% this year. That’s roughly $5 billion in loan defaults forecast for 2018, down from $7.4 billion in 2017. But about $3.3 billion of next year’s energy defaults could come from a single company on Fitch’s watch list, Houston-based Fieldwood Energy, a private equity-backed oil company operating in the Gulf of Mexico. Read more.
Editor’s note: The offices of Business Report will be closed on Monday, Dec. 25, and Tuesday, Dec. 26, in observance of the Christmas holiday. Daily Report will not be published those days. Daily Report will return on Wednesday, Dec. 27. Have a safe and happy holiday.
