Thursday, March 20, 2008

One of these stories is not like the others

Can you guess which doesn't belong?

T-P:

State bucking economic trends

Recovery dollars, oil prices help
Thursday, March 20, 2008
By Ronette King

Buoyed by recovery spending, higher oil prices and a strong job market, Louisiana has largely escaped the economic turmoil that has afflicted the nation in recent months.

Louisiana has never managed to attract much of a manufacturing base. The upside is that the state doesn't feel the pinch when consumer spending slows and manufacturers scale back production, LSU Economist Dek Terrell said Wednesday at the monthly meeting of the Certified Financial Analysts Society of New Orleans.


T-P (same page):
Capital One to lay off 163 workers in N.O.
It needs 'to lower operational costs'
Thursday, March 20, 2008
By Jaquetta White

Capital One said Wednesday that it will lay off 163 employees, or about 9 percent of its New Orleans staff, as part of an effort to improve efficiency and cut operating costs.

The credit card issuer and retail banker will cut support staff jobs in a wide range of departments beginning in May and through mid-2009, said Steven Thorpe, a spokesman for Capital One.


NOLA.com:

Bond crisis shuts down St. Rose biodiesel project
by Matt Scallan, The Times-Picayune
Thursday March 20, 2008, 9:24 AM

An Iowa company building a 60 million gallon per year biodiesel plant in St. Rose is halting construction on the project, citing woes in the national bond market, the company announced Thursday. Officials hope to resume construction at a later date.


City Business:
Inflation besets N.O. restaurants
The following excerpts are from Jim Funk, president and CEO of the Louisiana Restaurant Association, who, along with Galatoire’s Restaurant Chief Operating Officer Melvin Rodrigue, gave the following State of the Restaurant Industry address to New Orleans City Council this morning:


The presentation is full of "Yada yada yada" until..

When surveyed 12 percent of our restaurant owners reported an increase of 5.5 percent in the number of staff they have now compared to pre-Katrina; 66.7 percent reported a decrease of 18.6 percent while 21.2 percent reported the same number of staff as compared with pre-Katrina.

Here is the average increases our members are facing now according to the survey:

Insurance 94.7 percent

Labor 30.7 percent

Water 36.6 percent

Electricity 30.8 percent

Gas 30.4 percent

Alcoholic beverages 28.3 percent

Food costs 18.3 percent


But oil prices are high so Louisiana has "largely escaped the economic turmoil that has afflicted the nation in recent months" unless you read the rest of the paper.

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