The telecom offshoot of Lafayette Utilities System is using its recently achieved “cash positive” status as a marketing tool as it seeks to expand its customer base. In a mailer to LUS Fiber customers this week, LUS Director Terry Huval trumpets the fact that LUS Fiber is making enough money to cover its expenses and pay off the bonds issued to bankroll the venture:
LUS Fiber reached this financial position a year earlier than financial experts projected, which makes this milestone even that much more exciting,” Huval writes in part. “To have done so, so soon after we began serving customers, is a strong indicator that we are a healthy, thriving business that will continue to grow.”
LUS had to battle its way through the Legislature and fend off lawsuits to establish its fiber-to-the-home telecommunications business, which began hooking up customers in 2009. LUS Fiber had to take loans from LUS in order to meet its financial obligations — a scenario that was accounted for by the utility as it rolled out the multi-million dollar startup venture.
Huval adds that LUS Fiber’s newfound solvency will ultimately be a boon to LCG coffers: “As LUS Fiber continues to grow, it will hep reduce the need for new taxes because, like LUS already does today, LUS Fiber will generate new revenues for the city of Lafayette to support the cost of police and fire protection, along with many other municipal services.”
Huval’s letter to LUS Fiber customers is a prelude to LUS-F announcing the reinstatement of its “Refer-A-Friend” program that offers at $50 credit to LUS-F customers and the new customers they help get on the system.
The company currently has 10 branches throughout Louisiana, including an Ambassador Caffery location which opened last year.
Lawmakers have added $15 million to the attorney general's budget to pay for Louisiana's ongoing legal case against BP for damages caused by the 2010 Gulf oil spill.
The state's jobless rate rose to 5 percent in June from 4.9 percent in May. Louisiana's unemployment rate was 6.4 percent in June 2013.
Long-established private club opening special events venue in failed women’s store at Kaliste Saloom Road and Camellia Boulevard.
High-dollar legal teams are preparing to spar in federal court over the regional levee authority’s historic lawsuit against oil and gas companies, but a panel of volunteers could preempt those efforts when they meet in August.
May sales, the highest on record for the month at $534 million, increased 6.1 percent over May 2013.
Trendy Shi Shi is heading to the Ranch, longtime retail institution Partners’ Ltd. is relocating to Parc Lafayette, and ariel artist haven Vertical Barre is moving downtown.
There’s another debit/credit card scam making the rounds — the second this year — this time via a robo call purportedly from MidSouth Bank.
The 2014 Louisiana Annual Sales Tax Holiday exempts the first $2,500 of the purchase price of each eligible item for non-business use when the customer buys and accepts delivery of eligible property or places property on layaway.
The Lafayette-based home nursing firm will buy 14 home health agencies from a Tennessee company for $10 million in cash.
When Gov. Bobby Jindal signed a controversial bill retroactively banning the Southeast Louisiana Flood Protection Authority-East from filing lawsuits without his permission, many people thought that would put an end to the suit against 97 oil and gas companies.
Citing 76-year-old Garnette Thomas’ age and cooperation, federal judge says no jail time.
“There is something about being out on the swamp when you are alone that sucks the poisons of civilization out of you. It’s a sort of healing power that lets you be yourself again. That’s the kind of thing that would be ruined by a facility like this.”
The project was pushed by former Agriculture Commissioner Bob Odom as a way to help Louisiana's sugar industry, and its financing was approved in 2003 by the State Bond Commission. But it was a failure from the start and left current commissioner Mike Strain saddled with debt at his agency.
Family owned Baton Rouge milk and ice-cream producer aims to put PR nightmare behind it.
For Jennings-based JD Bank, IberiaBank’s buyout of Teche Federal couldn’t have come at a better time.
Louisiana Attorney General Buddy Caldwell says a south Louisiana flood board member who supports the board's environmental lawsuit against the oil and gas industry has reached the end of his term.
The Women Who Mean Business honorees and trailblazers will be featured as a cover story in the September issue of ABiz, which publishes Sept. 15.
Local attorney helps expand service offerings at Andrus Boudreaux Complete Title, which specializes in commercial and residential real estate closings.
Controversial LSU professor David Dismukes has come under fire once again, this time from 20 solar-power groups over his role in a Louisiana PSC study on the costs and benefits of alternative energy.
The state labor department figures released Monday show the initial claims decreased to 2,577 from the previous week's total of 2,604. For the comparable week a year earlier, there were 3,027.
Louisiana officials are refusing to disclose the details of crude oil shipments railroads haul through the state.
Faced with paying a hefty ethics fine, the local real estate developer sells another property, his Wingate by Wyndham hotel.
This year has been a good one for Lafayette’s IT sector, first with April's news of CGI’s new technology center and then Monday's announcement from Silicon Valley-based Enquero that it will soon be opening its first Agile Delivery Center at LITE.
Of the major oil- and gas-producing states, Texas gained seven rigs, New Mexico and West Virginia were up two and Oklahoma added one. Pennsylvania declined by five, California lost three, Louisiana was down two and Colorado and Kansas both were off one.