Coming up short: An effort to expand Louisiana’s medical marijuana law to cover more diseases has fallen one vote short in the state Senate Tuesday. The Associated Press reports Senators voted 19-16 for the proposal from Sen. Fred Mills, R-Parks. It needed 20 votes to pass. Supporters gave impassioned pleas about children with seizure disorders and others with severe illnesses who could benefit from medical marijuana. Opponents were equally passionate, saying the bill was a gateway to legalized recreational marijuana and would encourage drug use. Mills is expected to try the bill again. Louisiana has yet to start its medical marijuana program, which will eventually get medical-grade pot to people suffering from cancer, glaucoma and a severe form of cerebral palsy. Mills wants to add seizure disorders, HIV, epilepsy, multiple sclerosis and a handful of other diseases.
Exceeding expectations: Hancock Holding Co. on Tuesday reported first-quarter earnings of $3.8 million. The Associated Press reports the Gulfport, Mississippi-based bank says it had earnings of 5 cents per share. Earnings, adjusted for non-recurring costs, came to 9 cents per share. The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for adjusted earnings of 5 cents per share. The holding company of Whitney Bank and Hancock Bank posted revenue of $226.4 million in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $222.8 million. Read the full story.
Revived: The U.S. Senate on Tuesday revived a bill that would promote a variety of energy sources, from renewables such as solar and wind power to natural gas, hydropower and geothermal energy. The Associated Press reports the bill also would speed federal approval of projects to export LNG to Europe and Asia, update building codes to increase efficiency and strengthen electric-grid safety standards among dozens of provisions. Senate passage is expected as soon as today. Some senators on Tuesday also worked to remove a series of procedural obstacles that delayed the overall bill, including an amendment by Louisiana Sens. Bill Cassidy and David Vitter to expand revenue sharing for states where offshore drilling occurs. The Louisiana senators agreed to drop their amendment after Sen. Bill Nelson, D-Fla., objected. Nelson said he feared the measure could increase pressure to allow drilling off the Florida coast. Read the full story.
