Moody’s Investors Service, a major bond ratings agency, is painting a gloomy picture of Louisiana’s future fiscal health due to the state’s loss of more than $850 million in Medicaid funding thanks to a federal miscalculation, calling the potential budget crisis a “credit negative.” The Moody’s statement has not affected the state’s bond rating, which according to a Times-Picayune report currently stands at “high investment grade and stable,” but it does signal to investors that the state’s finances are precarious.
Moody’s issued the statement before the Jindal administration unveiled $551 million in spending cuts to the state’s Medicaid program. A Jindal spokesman says the governor believes Louisiana’s finances are safe, although more cuts to health services for the poor across Louisiana could be announced later in the budget year, which runs July 1-June 30.
In rendering his ruling, District Judge John Trahan all but called the real estate developer a liar for inconsistencies in his accounts of what prompted him to punch a school teacher unconscious.
Frank’s Casing Crew, now doing business as Frank’s International, will make its final appearance on ABiz’s list of the Top 50 Privately Held Companies in Acadiana this year, and once again it will likely be at the top with more than $1 billion in annual revenues. The 75-year-old company specializing in tubular fabrication and installation services to the oil and gas industry plans to offer shares of its stock to the public for the first time.
The defeat, or rather highjacking of House Bill 420 in the final days of this year's Legislative Session, say Reps. Vincent Pierre and Terry Landry, is the result of the propaganda spread by one unidentified local media outlet and an unnamed former state Representative, but nothing to do with the original legislation's lack of checks, balances or details.
City-Parish Council Chairman Brandon Shelvin heaped steady doses of condescending ire on a Blue Cross/Blue Shield of Louisiana executive while failing to reveal his financial ties to a BC/BS rival.
Abbeville native David Primeaux was a popular professor until his death late last year, and while he was successful at camouflaging a dark past, he couldn’t outlive it.
Tehmi Chassion’s failure to recuse himself in the school board’s selection of a group health benefits provider raises ‘serious questions’ on whether he violated state ethics law.
He’s a singer. A songwriter. A piano man. A family man. He’s even got his own Wikipedia entry. He’s David Egan. And he knows ancient secrets about the monolithic stones of Stonehenge that he’s not willing to share.
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