Gov. Bobby Jindal has proposed selling some publicly owned property in an effort to generate $35 million for the state operating budget and $40 million that would be saved for uses determined at a later date. The additional $40 million would be deposited into the Budget Stabilization Fund, known as the state rainy day fund, which is currently underfunded. With the proposal submitted, it is now up to state lawmakers to consider the pros and cons of the idea.
A Louisiana affiliate of the television broadcasting company National Communications Inc. has entered into an agreement to acquire the a television station in Texas. Station KUQI-TV, which broadcasts from Corpus Christi, Texas, is currently a Fox affiliate. National Communications Inc. has also entered into an agreement with London Broadcasting Co., based in Dallas, to provide various services to KUQI throughout the year.
Readers in Louisiana may be interested to read about an impending sale of a popular food restaurant chain. NRD Holdings LLC, which is based in Atlanta, is purchasing a number of locations of Golden Corral across the Midwest from Frisch's Restaurant, Inc. NRD Holdings LLC also owns and operate numerous locations of Popeye's, Checkers/Rally's and Domino's Pizza. While the deal was announced only recently, the business transaction is not expected to be completed until May 29.
It is a good year for the German movie studio Pixomondo, which just recently won multiple Oscar awards for their special effects work in the newest Martin Scorsese movie, "Hugo." The company has plans to continue that success, and they started with a recent announcement that they will open a new branch in Baton Rouge. Pixomondo cited the growing movie business in the region as a major reason for their decision. They intend to open a new $1.2 million building that will employ up to 75 people.
Data from the Louisiana Department of Public Works shows a 1 percent increase in commercial construction projects. This increase, according to the report, is primarily the result of a 60 percent increase in renovation and expansion projects. These projects have netted a total of $235.4 million in development for the year, up $88 million since last year. On the other hand, new commercial projects are down by nearly 22 percent. Yet developers in East Baton Rouge Parish are optimistic about their opportunities for new projects in 2012.