In the bag: Big Easy Blends, a New Orleans-based company that makes pre-mixed frozen cocktails (in flavors such as Mar-Go-Rita, Daiq-Go-Ri, and Pińa-Go-Lada) in flexible, portable pouches, is included in Inc. magazine’s “30 Under 30” list for 2012. The libations were created in 2007 by brothers Antonio and Sal LaMartina and their high school friend Craig Cordes, and are now distributed in national chains such at Wal-Mart, Winn Dixie, Dollar General, Walgreens and Duane Reade. The company expects revenue to reach $27 million in 2012—up from $4.6 million in 2011. Check out the full story and the rest of Inc.‘s “30 Under 30” list here.
Space race: A company is asking for more land in Allen Parish to develop plans for a proposed $100 million refinery at the former Arizona Chemical. Virtual Engineering Operations President J. Craig Harrington asked the Allen Parish Police Jury on Monday to consider leasing 150 acres of the commercial property near Oakdale. The company initially wanted 67 acres but says now it needs more room for the project, which will include a $4 million rail system, crude tanks, a fabrication shop and retention pond. Harrington says delays in engineering, permits and construction estimates have hindered the project.
Bottom line bust: Microsoft has admitted that its largest acquisition in the Internet sector was effectively worthless and wiped out any profit for the last quarter. This morning the company announced a $6.2 billion charge to write down the value of an online advertising agency it bought five years ago, news that surprised but didn’t shock investors, who had largely forgotten Microsoft’s purchase of aQuantive in 2007. That deal was initially expected to boost the software giant’s online advertising revenue and counter rival Google’s purchase of digital ad firm DoubleClick. Read the full story from Reuters here.
Today’s poll question: Gov. Bobby Jindal says Louisiana will not begin to implement mandates outlined in the Affordable Care Act because “We don’t think it makes any sense.” Does it make sense to you?
Editor’s note: Daily Report AM will not be published Wednesday, in observance of Independence Day. It will return Thursday. Have a safe and happy holiday.
