Project to benefit entrepreneurs: Southern University at New Orleans has received approval to build a $3 million center that will be aimed entrepreneurial businesses. New Orleans CityBusiness says more than $2 million of the price tag will come from the federal Education Department. The center will be located near the school’s College of Business and Public Administration building. The project was approved recently by the Louisiana Board of Regents. The building will include office space for businesses, as well as Southern faculty and staff members. The school says faculty also will be able to use the center and its programs to meet accreditation requirements.
Meeting today comes after 15-hour bargaining session: The negotiating teams led by NFL Commissioner Roger Goodell and players’ association chief DeMaurice Smith are back for more talks after a 15-hour bargaining session that lasted until the early hours of today. U.S. Magistrate Judge Arthur Boylan is overseeing the process and said the sides resumed negotiations at 8 a.m. in Minneapolis, only about six hours after they ended their last session. Smith was seen entering the office building where talks are being held shortly before the planned start of the latest discussions. Staffers and players, including Jeff Saturday of the Indianapolis Colts and Brian Waters of the Kansas City Chiefs, joined him. As they were Thursday, the owners were being represented by Goodell, John Mara of the New York Giants, Clark Hunt of the Kansas City Chiefs, Jerry Jones of the Dallas Cowboys and Robert Kraft of the New England Patriots. Today marks the fourth consecutive day of negotiations between the two sides. The lockout began March 12, with the central issue being how to split revenues for the $9 billion business.
Private company makes offer for troubled book retailer: Borders has agreed to sell itself to private investment firm Najafi Cos. for $215 million. Najafi, which owns the Book-of-the-Month Club, will also assume $220 million in debt. The agreement is tentative and what is known as a stalking-horse bid for a company under bankruptcy protection. The bid will open an auction for the bookseller and its assets, so a higher bid is possible. A bankruptcy court hearing on the deal is set for July 21. If the court does not approve an auction process, Borders filed a separate motion to liquidate. Najafi has been a speculative suitor for the Ann Arbor, Mich.-based company, although Borders has not previously confirmed any specific bidders. Borders Group Inc. filed for bankruptcy protection in February, hurt by stiff competition from online booksellers and discounters. The chain shut down nearly 200 locations, including stores in New Orleans and Metairie.
No Maginnis this week
John Maginnis is on vacation. His LaPolitics column will return July 15.
