Bought up: Former Sears CEO and chairman Eddie Lampert has bought the Sears store in the Mall of Louisiana, sales documents show. Lampert bought the property through his hedge fund, ESL Investments Inc., and its subsidiary, TF Baton Rouge LA Two LLC. He bought 425 Sears stores—including the Baton Rouge store—in early February for $5.2 billion through a bankruptcy-court auction. The sale price for the Baton Rouge store is listed as $10 and “other valuable consideration.”
Quitting quorum: The Louisiana Public Service Commission has voted unanimously to remove quorum requirements for cooperative voting, to install term limits on co-op board members and to increase the members’ access to information. In its announcement today, the commission says the decision was made to help maximize member participation in the decision making process of their individual co-op.
It’s their day: Gov. John Bel Edwards has declared today “Louisiana Small Business Development Center Day” as part of a national movement to share the success stories and notable impacts SBDCs have fostered in communities. America’s SBDC network is celebrating 40 years. Edwards says it helped start 141 new businesses in Louisiana during fiscal year 2017-18, creating more than 866 jobs.