The Rum House owners buy land for parking

The owners of The Rum House have purchased 0.63 acres to help alleviate parking problems at their popular new Perkins Road restaurant in Baton Rouge. “Additional parking was not in the business plan right away,” said Michael Buchert, one of the owners of The Rum House. “We’re knee-deep in this restaurant and opening another … Continue reading →

Red River Bank buys former Teche branch on Essen

Alexandria-based Red River Bank has purchased the former Teche Federal branch at 5603 Essen Lane in Baton Rouge for $2.4 million in a sale that closed Tuesday. Red River said the site became available after IberiaBank acquired Teche. Red River has five Baton Rouge locations and plans to open its sixth, the Essen Lane branch, in January. … Continue reading →

Industrial customers boost Entergy profit

The manufacturing renaissance underway in Texas and Louisiana helped boost New Orleans-based Entergy Corp.’s second-quarter earnings to $189.4 million, or $1.05 per share, compared to $163.7 million, or 92 cents per share, a year ago. Strong demand from industrial customers and solid performance from the company’s wholesale nuclear power business helped drive results, Entergy … Continue reading →

BR, N.O. fare well for recession recovery

New Orleans and Baton Rouge were ranked in the top 25 of a new report that measures how the 150 largest cities in the U.S. have recovered from the Great Recession. New Orleans was ranked 15th in the WalletHub study, released Monday, while Baton Rouge was ranked 25th. The report found that Laredo, Texas, had … Continue reading →

MidSouth second-quarter earnings rise

Lafayette-based MidSouth Bancorp Inc. reported its second-quarter earnings rose to $3.9 million, or 34 cents per share, compared to $3.3 million, or 29 cents per share, a year ago. President and Chief Executive Officer C.R. Cloutier said strong loan growth and improvements in efficiency and operating earnings helped drive the second-quarter results. The majority … Continue reading →

Crown expands infant bedding line with Carter’s

A subsidiary of Gonzales-based Crown Crafts Inc. has expanded its licensing agreement with Carter’s Inc. to offer infant bed sets and decor and also announced an acquisition of the Kidsline and CoCaLo brand names from subsidiaries of Kid Brands Inc. for $1.35 million in cash. Crown Crafts Infant Products Inc.’s acquisition of the Kidsline and CoCaLo … Continue reading →

Business Briefs for July 27, 2014

Three Point Capital, a California and New York-based specialty finance company, has opened a Baton Rouge office at Celtic Studios. Three Point Capital is known as a tax credit lender for film, but has expanded its lending activities to different areas. Amy Rodrigue has been … Continue reading →

People in Business for July 27, 2014

Alan Broxson, of Danos

Alan Broxson has been named manager of the new instrumentation and electrical division at Danos in Larose. Danos recently acquired I&E company API Control System Solutions. Broxson has held senior-level management positions with CAMCO, Baker Hughes, NATCO and Weatherford in the U.S., United Kingdom, Middle East and Asia Pacific areas. … Continue reading →

Business Honors for July 27, 2014

Lee Berg, Lee Michaels Fine Jewelry

Gulf Coast Bank has been named to the Independent Community Bankers of America’s list of Top 50 Community Bank Leaders in Social Media. Nearly 6,500 community banks were eligible to be part of ICBA’s list. Community banks were chosen based on their engagement with fans and followers, the content distributed on their … Continue reading →

Business Briefs for July 27, 2014

Amy Rodriigue, Three Point Capital

Three Point Capital, a California and New York-based specialty finance company, has opened a Baton Rouge office at Celtic Studios. Three Point Capital is known as a tax credit lender for film, but has expanded its lending activities to different areas. Amy Rodrigue has been … Continue reading →

People in Business for July 27, 2014

John Brooks, Risk Management Resources Inc.

John Brooks has been named marketing manager at Risk Management Resources Inc., a third-party administrator for LCTA Workers’ Comp. Brooks was a senior field representative at Berkshire Hathaway GUARD and previously was vice president of marketing at LEMIC Insurance Co. … Continue reading →

BR area gains 12,700 jobs over 12 months

The Baton Rouge metropolitan area gained more nonfarm jobs — 12,700 — in the 12 months that ended June 30 than any of Louisiana’s other seven metro areas. Those numbers, reported by the Louisiana Workforce Commission on Friday, were not yet seasonally adjusted, but showed the Baton Rouge area increased its employment by 3.3 percent … Continue reading →

U.S. rig count up 12; Louisiana gains 6

Oilfield services company Baker Hughes Inc. says the number of rigs exploring for oil and natural gas in the U.S. rose 12 this week to 1,883. The Houston firm said Friday in its weekly report that 1,562 rigs were exploring for oil and 318 for gas. Three were listed as miscellaneous. A year … Continue reading →

Chemical company looks to Ascension for $70 million plant

Specialty chemicals maker Stepan Co. announced plans to complete front-end engineering and design work for a potential $60 million to $70 million chemical production facility in Ascension Parish’s industrial corridor. The company, headquartered near Chicago, recently authorized the feasibility work and will make a final investment decision on the project in the second quarter of 2015. … Continue reading →

Beer educators granted tax-exempt status

Advocate Photo by VERONICA DOMINACH -- Pints of beer are lined up for the

Beer education, it turns out, is a worthy cause for charity. The Bayou Beer Society, a Houma-based group that promotes zymurgy, or brewing, has been granted tax-exempt status by the Internal Revenue Service. This means contributions to the society are tax-deductible. The group’s goals include preserving the cultural and historical beer recipes of south Louisiana … Continue reading →

Investar earnings rise

Advocate staff photo by BILL FEIG -- Investar Bank went public two weeks ago and CEO John D'Angelo rang the opening bell for Nasdaq on Tuesday. D'Angelo talks about the growth of the company.

Baton Rouge-based Investar Holding Corp., the holding company for Investar Bank, reported second-quarter earnings dipped to $1.1 million, or 26 cents per share, compared to $1.7 million, or 44 cents per share, a year ago. However, the 2013 results included a $900,000 “bargain purchase gain” recorded in connection with the acquisition of First Community Bank in May … Continue reading →

BR casino revenues down for June

Advocate staff file photo by Mark Saltz -- The winnings at Baton Rouge’s three riverboat casinos were lower in June than they were the year before, because of a dropoff in activity at Hollywood Casino Baton Rouge.

The winnings at Baton Rouge’s three riverboat casinos were lower in June than they were the year before because of a dropoff in activity at Hollywood Casino Baton Rouge. The three local riverboats brought in nearly $22.5 million during June, compared with almost $25.6 million in June 2013, a 4.7 percent drop, according to figures released Thursday … Continue reading →

Soccer tourney helped lift BR hotel revenue 41 percent

Advocate staff photo by HILARY SCHEINUK -- The Futboleros' Alexander Mendoza performs for the crowd during the opening ceremony of the US Youth Soccer Region III Tournament on Thursday at the Baton Rouge River Center. The Futboleros are a soccer entertainment company based in Los Angeles.

Hotels took in $6.7 million in revenue during last month’s regional youth soccer tournament in Baton Rouge — a 41 percent increase over the same period a year ago. The figures from lodging industry firm STR are for June 19-26. Local hotels collected $4.8 million for the same period in 2013. The first day of the … Continue reading →

IberiaBank earnings rise

Advocate staff photo by BRYAN TUCK -- Lafayette-based IberiaBank Corp.

Lafayette-based IberiaBank Corp.’s second-quarter earnings climbed to $18.5 million, or 60 cents per share, compared to $15.6 million, or 53 cents per share. However, the holding company for IberiaBank’s said results included non-operating costs, mainly for acquisitions, of 36 cents per share. Without those costs, IberiaBank would have generated a profit of 96 cents per share. … Continue reading →

Casino employment increases in La.

Advocate staff file photo -- Casinos in Louisiana employed more people and generated more state and local tax revenue in 2013 than in 2012, ranking the state fourth natiionally in casino jobs.

While the number of people working in Louisiana’s commercial casinos increased from 2012 to 2013 and taxes paid to state and local governments also went up, a new report noted that employee wages, benefits and tips dropped during that time. According to the American Gaming Association, the number of permanent full-time workers in the … Continue reading →

AgCenter billboards encourage healthier eating, fitness habits

The LSU AgCenter has launched a marketing campaign to get poorer Louisiana residents, whose budgets and food options are often limited, to start thinking about making healthier choices when it comes to food and fitness. The campaign includes billboards in low-income areas across the state, as banners and posters that can be displayed in schools, stores and … Continue reading →

Federal judge dismisses sweetener case against LSU

A federal court in Los Angeles has dismissed Quest Nutrition LLC’s patent case against LSU over the development of a potential new sweetener. California-based Quest, which makes nutrition bars, said it went to LSU to consult on the sweeter. But LSU broke the confidentiality and nondisclosure agreement, according to LSU has filed for a … Continue reading →

Investar CEO rings Nasdaq opening bell

Baton Rouge-based Investar Holding Corp. Chief Executive Officer John D’Angelo rang the opening bell for Nasdaq on Tuesday. Investar Holding is the parent company of Investar Bank and began trading on Nasdaq earlier this month under the symbol ISTR. The bank had total assets of $673 million as of March 31. Investar has … Continue reading →

Court: No protection agency funds for Stanford victims

Associated Press file photo by The Houston Chronicle, Nick de la Torre -- R. Allen Stanford, center, leaves the Bob Casey Federal Courthouse, in March  2012, in Houston.

The Securities Investor Protection Corp.’s emergency fund is not available to people who were fleeced of billions of dollars by Houston swindler Robert Allen Stanford, an appellate court has ruled. The decision by the U.S. Circuit Court of Appeals for the District of Columbia rocked people who invested with Stanford’s companies from Baton Rouge to the Atlantic … Continue reading →

Two BR firms recommended for state incentives

Advocate staff photo by ANGELA MAJOR -- Packages of coffee pods move along a conveyer belt at Pod Pack. The Baton Rouge-based company, which manufactures single-serving pods of coffee and tea, has seen its sales more than quadruple since 2010.

Two Baton Rouge firms and a third in Shreveport have won recommendations for nearly $3.7 million in state awards from the Louisiana Economic Development Corp. Lacking a quorum because of intense rains Friday, Chairman A.J. Roy and several other board members said the recommendations would be subject to a vote of the full board at a later … Continue reading →

Gulf Coast holds oil from shale formations in abundance

Photo courtesy of Louisiana Offshore Oil PortThe above-ground tanks at Louisiana Offshore Oil Port's Clovelly facility allow the company to segregate specialty grades of crude oil for customers. This ability will be important if enough Canadian oil arrives in Louisiana to support the cost of adding the sysems needed to load vessels. Today, LOOP only offloads vessels carrying domestic and foreign crude.

The Gulf Coast is awash in oil from shale formations, so much light oil that the region’s refineries can’t process it all without spending big money on modifications. There’s so much shale oil that the United States has become the world’s largest crude producer, passing Saudi Arabia and Russia. There’s so much shale oil that when energy analysts … Continue reading →

Business Briefs, July 20, 2014

A combined PJ’s Coffee and WOW Cafe: American Grill and Wingery has opened in the Baton Rouge Metropolitan Airport. Ballard Brands formed a partnership with SSP America to provide food services at the airport. The company converted the cafe area located past airport security into … Continue reading →