Although the results were better than expectations, Lehman Brothers Holdings Inc. reported a 57% drop in fiscal first-quarter net income.The drop is related to weakness in its fixed-income business which moved Lehman shares, which closed Monday at $31.75, up 12% in premarket trading to $35.46.
For the quarter ended Feb. 29, the investment bank posted 81 cents a share, down from $1.96 a share, from last year.
ICF
Louisiana Recovery Authority (LRA) Executive Director Paul Rainwater today called for an investigation by the Louisiana Inspector General into the contract of ICF International, the private contractor that runs the Road Home program. ICF International received a $156 million raise in December.
Rainwater has previously called for an investigation by the Legislative Auditor into ICF's contract. LRA staff have already started meeting with the Legislative Auditor about the issue. Rainwater issued the following statement today about the IG's investigation:
"It's troubling that ICF International was given a pay raise in spite of their poor performance history and that it was done through a process that seemingly excluded the notification of the state legislature or the general public.
"Today, I have requested that State Inspector General Stephen Street join the legislative auditor in investigating how the amendment to the ICF contract was negotiated, what notification process, if any, occurred, and what our possible options are for renegotiating the contract."
"We owe it to the people of Louisiana, and especially those continuing to recover from the 2005 storms, to ensure that every taxpayer dollar is fully accounted for and dedicated toward its rightful purpose of aiding our state's recovery and rebuilding."
LSU Health Science
The primary fund-raiser for LSUHSC’s CampTiger will be held on Friday, March 28, 2008 at 7:00 p.m. at the New Orleans Museum of Art at 1 Collins Diboll Circle (CityPark and Esplanade Avenue). This year’s annual Camp Tiger Benefit Auction is called "A Clear Night on the Bayou”. A number of area restaurants have donated delicious food and drink–everything from appetizers to desserts. Auction items range from fabulous vacations, artwork and antiques to jewelry, sporting equipment and memorabilia. The donation is $25.
SUNO
SUNO Chancellor issues statement about Karen Carter Peterson’s proposal to acquire funding for campus recovery
NEW ORLEANS, LA - Upon learning from a March 11th Times-Picayune article (“House committee agrees to exceed state spending cap for Jindal plan”) that Louisiana State Representative Karen Carter Peterson “tried to snag $30 million for Southern University in New Orleans” Chancellor Victor Ukpolo has issued the following statement:
“We are pleased that Representative Carter Peterson continues in her quest to garner financial support for the continued viability of Southern University at New Orleans. According to the Times-Picayune, the representative cited our growing enrollment with limited resources.
Impressively, our enrollment has reached 74% of its pre-Katrina status.
While our student population continues to rise, our role as a key educational resource in the rebuilding of the GulfCoast region through providing quality academic programs, has increased significantly as well.
“On a daily basis, the university’s administration works with the state and FEMA, and progress toward rebuilding the campus is moving as quickly as possible. However, Representative Carter Peterson’s proposal would significantly enhance plans to rebuild SUNO. We hope that legislators who need more information about SUNO would visit with us to view our needs firsthand, and experience the dedication and indelible spirit of our students, faculty and staff.”
Louisiana Education
United States Senator Mary Landrieu, D-La., today announced that three Louisiana educational institutions will receive more than
$8.25 million in federal dollars to repair extensive damage to their buildings caused by Hurricanes Katrina and Rita and the catastrophic levee breaks that followed.
"Without the complete use of their facilities, it's challenging for these educational institutions to fully meet the needs of their students and communities," Sen. Landrieu said. "It's crucial that the schools be fully restored so they can continue to educate Louisiana's youth."
At XavierUniversity, 22 sites are being repaired after sustaining significant damage. Of these just-announced funds, more than $1 million will go toward dry flood-proofing for the campus Central Power Plant Building.
Additionally, $4 million of this new money will entirely fund the replacement of the LSUHealthSciencesCenterBuilding, which was inundated with floodwaters that caused mold contamination.
HolyCrossSchool will also receive a grant to fully replace its CentralServicesBuilding, which houses a carpenter and paint shop, maintenance bay with equipment storage and office and conference areas. The facility suffered damage from five feet of standing floodwater.
New Orleans Music
On April 4th at One Eyed Jacks Big Blue Marble, The Bad Off, Metronome The City, DJ Mike Mayfield and members of Fleur de Tease will join together to raise money for the New Orleans Musicians Clinic. At the Circle Bar the next day at noon, the benefit will continue with the following artists: A Living Soundtrack, Manwitch, The Bally Who, Steve Eck, Good Guys, I Octopus, Big Baby, and White Bitch.
In collaboration with LSU Healthcare Network and Daughters of Charity Services of New Orleans, The New Orleans Musicians' Clinic (NOMC) provides access to health and social welfare services for the local music community.
Since 1998, NOMC has played a pivotal role in sustaining the health of New Orleans musicians. As housing, family and financial challenges continue, they strive to remain a core resource for the music community.
Portico Learning
Another round:Advantage Capital Partners, Enhanced Capital Partners, Louisiana Fund I and the Louisiana Technology Fund today announced participation in a $1 million funding round for Baton Rouge-based Portico Learning Solutions, a premier provider of custom e-Learning solutions. The company will use the funds to fulfill its working capital needs.
"The e-Learning market is a growing industry and we're confident that Portico will continue to gain more traction in the marketplace with this latest round of funding," said Lee Pryor, CEO of Portico Learning Solutions.
