All we can say is it’s about time. Thanks to City-Parish Councilman William Theriot, we now know what a mess the Lafayette Public Trust Financing Authority has been for God knows how long. The Legislative Auditor slammed the public trust’s board and its longtime attorney in an advisory services report (it wasn’t even a full-blown audit), noting that every year since 2008 two different independent audit firms reported to the entity that it had significant deficiencies and material weaknesses in its accounting and financial statements. The deficiencies were still present when the Legislative Auditor came calling. Shockingly, the LPTFA does not even prepare or adopt an annual budget, despite that it is required to do so by state law, and — worst of all — LPTFA’s lack of an ethics code and training for its board members was likely a factor in ethics charges against its former chairman, Greg Gachassin. Those charges, filed by the Board of Ethics last year, prompted Theriot and community activists like Carol Ross to call for an inquiry into its operations. These are only a few of the problems cited in the report. Let’s hope the council demands some answers from LPTFA’s board and its attorney, Richard Becker.
It was with shock and dismay that Lafayette learned longtime Festival International de Louisiane Executive Director Dana Baker abruptly resigned her position and parted ways with the board. To outside observers festival operations were running like the German rail system, with our beloved April shindig getting bigger and better — almost to the point of outgrowing downtown Lafayette — each year during her tenure. What was inexplicable in the divorce was how tight-lipped both sides were in revealing the reason for the departure, leading to no small amount of speculation and some unfortunate rumors that painted a picture of parochialism and small-town politics run amok. Baker’s abrupt departure also precluded implementing a smooth succession plan. When a respected executive at a beloved entity resigns suddenly and without reason, something’s up, and in this case silence isn’t golden — it’s ugly.
What used to be known as the “Sore Four” on the Lafayette Parish School Board has grown into a simple(-minded) majority with the spoiling of board member Tehmi Chassion, and they’re making Republicans in the U.S. House of Representatives look downright cooperative. Their goal, evidently, is to oppose Superintendent Dr. Pat Cooper at every turn, students and schools be damned, and they’ve taken throwing the baby out with the bath water to new lows. Most recently the board voted 5-4 to yank half the funding from an innovative aspect of Cooper’s Turnaround Plan that would provide teen moms in the school district with special educational services and training along with childcare. The program planned for Northside High is also designed to get those teen moms’ children academically prepared for kindergarten, and upon graduation, the mothers would receive certification qualifying them to work in child care. Chassion, who represents Northside High, joined the obstructionist faction on the board in voting to pull the funding.
The parent of Investar Bank says its second-quarter earnings fell to $1.1 million or 26 cents a share from $1.7 million of 44 cents a share in the same period a year ago.
1,554 rigs were exploring for oil and 315 for gas. Two were listed as miscellaneous. A year ago there were 1,770 active rigs.
Most personal auto insurance policies exclude coverage when people charge money to drive others in their personal vehicles.
Louisiana's 21 casinos took in $203.5 million statewide in June, edging up one-half of a percentage point from a year earlier.
Business First Bank has announced plans for a Baton Rouge market expansion through a merger deal with American Gateway Financial Corp.
Mellow Mushroom Pizza Bakers opens on Johnston.
Acadiana's Top 50 Private Companies
It would be an understatement to say Schumacher Group had a challenging year in 2013.
Hampton Toyota has been serving Acadiana as the premier Toyota dealership for more than 10 years. And now, the glossy Johnston Street dealership is looking forward to a makeover.
Even when Floyd Degueyter is on “vacation” he’s hard at work.
As the second largest metal heat treating company in the country, Analytic Stress Relieving Inc. has grown by leaps and bounds since its inception in 1979.
When the Prohibition era came to an end in 1933, Joseph R. Streva saw an opportunity to make a little extra money to supplement his day job.
When a hurricane hits, Brent Mouton doesn’t run. The convenience store chain owner is proof that the challenges of mother nature can almost break a business, but Mouton learned to grow out of temporary closure from near devastation in 2002 and of lost potential revenue.
By launching a Super PAC to end all Super PACs, our Top 50 keynote speaker hopes to change the game in Washington.
Oil Center-based private facility extends its offerings with special events venue in failed women’s store.
One year later, is his expansion plan paying off?
Newspaper industry insiders question John Georges’ expansion plan.
How the U.S. has gotten itself into another fine mess
The Heymann Center was transformed into a culinary adventure in mid-June for the EatLafayette kick-off event, A Taste of Lafayette, and for the third consecutive year, a sellout crowd filled the Cajundome Convention Center June 19 to hear LEDA chief Gregg Gothreaux’s State of the Economy report.
A look at recent hirings, promotions and other announcements from Acadiana's business community.
Anne Pyle puts a bow on a stellar, expectations-defying career with her latest venture.
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.