Louisiana Attorneys- Baton Rouge Law Firm

In the News

Daily Report
Baton Rouge Business Report
September 17, 2003

Hello food: A Japanese restaurant named Hello Sushi will open in the new Southgate development on Burbank Drive before year-end. Angela Finch, representing undisclosed owners, said the restaurant will be 2,600 square feet and located next to the Co-Op bookstore. Other restaurants in Southgate are Roman's, Moe's Southwest Grill and CC's Coffeehouse. Already open is Walk-Ons restaurant. Southgate is a combination of housing, retail and offices under construction on land that straddles Burbank and Nicholson drives. Going up in the project are 343 apartment homes, which will be followed by condominiums.

Bondholders in control: Piccadilly Cafeteria Inc.'s bonds are selling at about 65 cents per dollar, indicating the market is valuing the company at $23.4 million of its $36 million in debt, says Walter Morales of Commonwealth Advisors, a Baton Rouge-based investment firm. Troubled Piccadilly has said it's up for sale and has not ruled out bankruptcy to get a deal done. If someone were to buy the firm, they would have to pay bondholders $36 million, says Morales. That isn't likely. What's more likely is Piccadilly being taken over by bondholders after eliminating money-losing stores to make it profitable. The company has said it would review and likely shut stores that are losing money but has said restaurants in Baton Rouge and across Louisiana are profitable. Baton Rouge-based Piccadilly's stock is trading up 1 cent to 40 cents per share this morning.

Bobby gets nod: Business Report Publisher Rolfe McCollister Jr. is getting behind Bobby Jindal's gubernatorial campaign. In an endorsement, McCollister says "Jindal will take Louisiana in the right direction. More than any other candidate, he has the bold ideas, the great intellect, and the solid integrity that will put us on the road to success and get our state moving in high gear."

No go: BusinessReport.com readers are cynical about the trip by local leaders to Austin, Texas. In an online poll, 70 percent of 429 respondents said the fact-finding trip will not lead to the building of a better Baton Rouge, while 30 percent said it would. JR Ball of Business Report will be on the trip, asking questions on your behalf and posting them on this Web site. Readers who have offered questions so far are focusing on traffic, litter and the revitalization of depressed neighborhoods. Areas to be covered during the three-day trip are creating a vision for Baton Rouge, arts and entertainment, health care, technology, development and growth, education (primarily higher education), infrastructure and local government's relationship with the state Legislature. If you have a question for Austin leaders, e-mail JR at jrball@businessreport.com

A new place: An Alabama restaurant company has bought the Everything in its Place location on Bluebonnet for $1.65 million, says Mark Hebert of Kurz & Hebert Commercial Real Estate. The company plans to open a giant buffet restaurant called King Buffet after renovating the building. The restaurant's Metairie location offers more than 150 items in a combination of Chinese, American and Italian fare. Ann Bernard of Everything in its Place said her business would relocate but declined to say where until a lease is signed today. Everything in its Place offers home organizing goods.

Entergy goes nuclear: Entergy Nuclear has signed a deal to operate Nebraska Public Power District's Cooper Nuclear Station for the remaining 11 years of the plant's operating license. Under the contract, Entergy will get $12 million next year, $13 million in 2005 and $14 million for the rest of the contract.

News roundup: AOL Time Warner plans to erase "AOL" from its name, distancing itself from the decline in the online service. The board could approve the name change tomorrow. Former NATO supreme commander Wesley Clark will launch his presidential campaign at noon today in Little Rock, Ark. He told CNN this morning, "This is what my expertise, my leadership experience, my whole career has pointed and prepared me for. I've had a lot of diplomatic experience. I've done a lot of work with security policy. I think I'm the best person to look at the future of this country and keep us safe." Vote in our newest poll: Will Wesley Clark win the Democratic nomination for president?

Honoring Mr. Barton: Ducks Unlimited will hold a sponsorship banquet to salute businessman John W. Barton Sr., a long-time supporter of Louisiana wildlife. The banquet will be held Wednesday, Sept. 24, at the Lod Cook Alumni Center. Cocktails are at 6:30 p.m. and dinner is at 7 p.m. Also being recognized at the banquet are the late Fred Parnell, an outdoor retailer, and the late David Hamilton, an attorney. Single sponsor tickets are $300, ticket for couples are $350 and corporate tables are $2,500. For tickets, call Stephen Babcock.