Eric Hill
Yesterday, City of New Orleans officials and State Representative Cedric Richmond, celebrated the opening of another business in the recovering community of New Orleans East. Eric Hill Nissan's new state-of-the-art automobile dealership became the first dealership to open its doors after being completely rebuilt.
"Eric Hill is a testament to the fortitude and leadership that is becoming the new New Orleans, and I am proud that he chose eastern New Orleans for this investment," said Representative Richmond.
The previous dealership, Lamarque Nissan, was wiped out by the Hurricane Katrina and shut down. Former football star Eric Hill purchased the dealership in Spring of 2006 and operated in temporary facilities. The grand opening for the new facility was Sunday, February 24th.
"While Hollywood stars walk the red carpet," said Councilmember Cynthia Willard-Lewis, "we are cutting red ribbons to celebrate the rebuilding and recovery of our great city."
"The Office of Recovery and Development Administration is pleased to support Eric Hill Nissan and welcome the businesses to the city," said Dr. Edward Blakely, executive director of the office. "Mr. Hill's vision and leadership will be a great asset to this community and our recovery."
Eric Hill is a native of Galveston, TX. Hill played football at LSU for four years (1985-88), was a member of three SEC championships Tigers teams. He was drafted as the #10 overall pick in the 1989 NFL draft.
Barnes, Nobles
On Tuesday, In response to the on-going need to provide high quality single family housing for displaced residents of New Orleans’ Gentilly community, Leonard Riggio, chairman of Barnes & Noble, and his family of New York City will use this occasion to announce creation of Project Home Again, a major new initiative designed to build and provide houses specifically for former Gentilly residents. The Riggio’s commitment to the project will be $20 million.
AppOne
AppOne, a part of Wolters Kluwer Financial Services, is helping automotive dealers and lenders address Identity Theft Red Flags and Notices of Address Discrepancy, more commonly known as “Red Flag Rules,” using its Internet-based financial risk mitigation technology. Based in Baton Rouge, La., AppOne, a part of Wolters Kluwer Financial Services, is an Internet-based company offering a technology solution that connects independent auto dealers with lenders. The AppOne system relies on the company’s proprietary scorecard system, which evaluates each independent dealer to determine the level of risk associated with doing business with that dealer. It also automates the funding process for dealers by printing all documents required to complete the booking of auto loans.
The Federal Trade Commission (FTC) established the Red Flag Rules recently to help combat the nation’s fastest growing white collar crime—identity theft. Identity thieves can use stolen personal information to obtain fraudulent credit lines and buy or finance vehicles through indirect or direct lending channels. This means the automotive finance community has to be extremely vigilant when it comes to detecting credit fraud. The Red Flag Rules are aimed at helping dealerships and lenders detect identity theft by requiring that both establish prevention programs.
While dealers and lenders have until Nov. 1, 2008 to implement observable and measurable programs, it can be difficult and time-consuming to make sure an organization is meeting Red Flag requirements. This is particularly true for smaller lending institutions and independent auto dealerships that have limited technological and staffing resources. AppOne helps simplify many aspects of Red Flag Rule compliance by employing a number of warranted identity theft prevention processes, including:
IDOne – A proprietary alerting system that automates the process of fraud alerts, addresses discrepancies and also includes proprietary alert rules that look for patterns for possible fraud and identity theft
AuditOne – An AppOne process that reconciles all finance-related documents, including identity documents with information provided on customer credit applications
InterviewOne – A preventative measure used to verify both the identity of the buyer and the type of vehicle that the customer has purchased
“When it comes to the new Red Flag Rules, lenders and dealers can face steep penalties—in some cases, thousands of dollars per violation—for non-compliance,” said Lee Domingue, CEO of AppOne. “AppOne helps address Red Flag Rules before the loan documentation is sent to the lender, which simplifies the compliance process for both the lender and the dealer.” Domingue also added that dealers benefit from selecting a strong industry partner whose policies fit with their established identity theft programs.
Chemiere Energy
Cheniere Energy, Inc. announced today that it is evaluating strategic options to enhance shareholder value, including options to optimize the value of the Sabine Pass LNG receiving terminal and the regasification capacity at the facility held under a long-term terminal use agreement by its wholly-owned subsidiary, Cheniere Marketing, Inc. Cheniere has engaged Credit Suisse as its financial advisor in connection with its evaluation. The Sabine Pass terminal, designed with a peak send-out capacity of 4.3 Bcf/d, is scheduled to come on line in the second quarter of this year with an initial send-out capacity of 2.6 Bcf/d. Capacity at the terminal has been contracted under 20-year agreements, 2.0 Bcf/d by Cheniere Marketing and 1.0 Bcf/d each by two major integrated energy companies, Total and Chevron.
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