Avelo Airlines: ExxonMobil today announced it has entered into an agreement to be the sole supplier of aviation lubricants for new low-cost carrier Avelo Airlines, which launched earlier this year. The product will be produced in Port Allen, where ExxonMobil has an aviation lubricants plant. See the announcement.
Pay package: Louisiana’s new legislative auditor, whose office reviews the financial books of state and local government agencies, is getting a higher pay package than his predecessor, under a salary agreement negotiated with lawmakers behind closed doors. The Legislative Audit Advisory Council set a $195,000 salary for Mike Waguespack, a former Assumption Parish sheriff who was elected by lawmakers to the position in April. He’ll also receive a $22,800 annual housing allowance and an $18,000 yearly car allowance. Waguespack’s predecessor, Daryl Purpera, received a $178,774 salary that was unchanged since 2013 and no car or housing allowance, according to the auditor’s office. Read the full story.
Supply and demand: The nation’s homebuilders continue to be thrilled with buyer demand, but higher construction costs are starting to eat away at their confidence. A monthly sentiment index from the National Association of Home Builders dropped 1 point to 80 in July, CNBC reports. The index stood at 72 in July 2020. Anything above 50 is considered positive. The index hit a record high of 90 in November 2020. Read the full story.