Business briefs

Associated Press and staff reports

IberiaBank Corp. to acquire Trust One branches

LAFAYETTE — IberiaBank Corp. of Lafayette announced Friday that it will acquire the six Memphis, Tenn. branches of Trust One Bank, a division of Synovus Bank.

IberiaBank will acquire selected loans and other assets and the deposits of Synovus’ Memphis operations in an acquisition expected to close by the end of 2013. As of Aug. 31, Synovus had $131 million in loans and $205 million in deposits in Memphis. The company’s branches employed 33 people.

Wal-Mart work

to start at Katrina flood site

NEW ORLEANS — Construction is about to begin for a Wal-Mart where a mall was flooded by Hurricane Katrina in 2005.

New Orleans officials will join company representatives at a groundbreaking ceremony on Tuesday where the Gentilly Woods shopping mall once stood.

The 120,000-square-foot store will have a 481-space parking lot. The City Planning Commission overrode objections from its staff, which said that was nearly 100 spaces too many.

Wal-Mart Stores Inc. bought the site for $3 million from the New Orleans Redevelopment Authority and is spending more than $13 million to build the new store. The authority had used $4.3 million in federal grants to buy the mall.

The company says it will open the store by fall 2014, hiring 300 people.

Small business seminar set

at McNeese

LAKE CHARLES — A seminar on starting and financing a small business is planned for Sept. 17 at McNeese State University.

The free session will be held from 5 to 7 p.m. in Room E of the Southwest Louisiana Entrepreneurial and Economic Development Center at 4310 Ryan St.

This seminar is presented by the McNeese-based Louisiana Small Business Development Center.

Topics will include business planning, funding sources and other resources for small businesses.

Pre-registration is requested. For more information, contact the small business center at 337-475-5529 or go online at

LA’s workforce needs are

about to explode

The Council for a Better Louisiana is partnering with Louisiana Association of Business and Industry and the Chamber Southwest Louisiana to present Stepping Up: Meeting the Workforce Challenge for Louisiana’s Dynamic Economic Expansion.

The conference is scheduled Oct. 30 in Lake Charles and will focus on the workforce needs of employers, highlight state and local efforts to respond, and seek solutions from private and public sector experts to ensure that Louisiana is prepared for the coming economic boom.

The conference will include a keynote address from David Chavern, executive vice president and COO of the U.S. Chamber of Commerce and one of the nation’s leaders on business and industry issues.

The conference will be held at the L’Auberge Resort Conference Center in Lake Charles. Registration begins at 8 a.m. with the program running from 9 a.m. to 2 p.m.

To attend, pre-register online in advance. Registration for the conference is $65 per person and includes breakfast, lunch and other refreshments. Table sponsorships with reserved seating are available for $1,500. L’Auberge is offering a discounted hotel rate for guests wishing to stay overnight on Oct. 29. To register for Stepping Up!, view the agenda and to find more information on the discounted hotel rate, visit the online registration page or call Lynette Clark with the SWLA Economic Development Alliance at 337-433-3632.

For more information visit our website at or call 225-344-2225.

LSU plans exec development program

BATON ROUGE — LSU Executive Education’s Executive Development Program is accepting applications for its September cohort. The 10-day program will be held at the LSU Business Education Complex Monday to Wednesday, Sept. 18 to 20 and Oct. 21 to 24.

According to LSU Executive Education Director Robin Kistler, the program is designed for senior-level professionals and infuses cutting-edge learning techniques with business topics to prepare professionals for the next levels of leadership within their companies.

The program is an approved continuing professional development program with the Louisiana Professional Engineering and Land Surveying Board.

For more information, or to register for the program, online visit, or call 225-578-5516.

Design contract awarded for LNG import terminal

BATON ROUGE — Paris-based Technip has won the front-end engineering-and-design contract for the potential expansion of Trunkline LNG Export LLC’s existing liquefied natural gas import terminal in Lake Charles.

The Advocate reports the proposed project includes an LNG liquefaction plant, with a total export capacity of up to approximately 16.5 million tons of liquefied natural gas per year or 2 billion cubic feet per day.

Trunkline is a joint venture owned by Energy Transfer Equity LP and Energy Transfer Partners LP. Trunkline is one of three facilities — two in Louisiana — with federal permission to export LNG to countries that aren’t covered by free trade agreements. Those countries include Japan and other major importers of natural gas.

In early August, Energy Transfer and BG Group, agreed on preliminary terms to jointly develop an LNG liquefaction project at the Lake Charles facility. The companies said they expect to begin construction in mid-2015 and begin operations in mid-2019.

NRC says all

is well at River Bend plant

ST. FRANCISVILLE — The River Bend nuclear power plant is now operating with a normal level of U.S. Nuclear Regulatory Commission oversight, based on last year’s overall satisfactory safety performance.

NRC officials said at the end of 2012, all River Bend performance indicators and inspection findings were “green,” or of very low risk.

The NRC uses color-coded inspection findings and performance indicators. The colors start with green and increase to white, yellow or red, depending on the safety significance.

During the second quarter of 2012, the NRC conducted additional inspections after the plant experienced what the agency calls “scrams with complications,” or automatic or manual shutdowns of the reactor that result in additional problems.

The NRC says the issues were worked out by the fourth quarter.

Grant Larkins, senior NRC resident inspector at River Bend, said the complications involved fluctuations in the water level inside the reactor.

An NRC inspector from the Cooper Nuclear Station in Nebraska joined River Bend’s resident inspectors to study the fluctuations, Larkins said.

St. Mary Now & Franklin Banner-Tribune

Franklin Banner-Tribune
P.O. Box 566, Franklin, LA 70538
Phone: 337-828-3706
Fax: 337-828-2874

Morgan City Daily Review
P.O. Box 948, Morgan City, LA 70381
Phone: 985-384-8370
Fax: 985-384-4255

Follow Us