Thursday, 28 January 2016 11:30
Nucor uncertainty, Waguespack, Hecht to speak to Chamber; GNO Inc. annual meeting
Written by 
Rate this item
(0 votes)

hecht hangout

The Advocate is reporting that “Nucor Corp. has written off $84.1 million worth of engineering and equipment for a proposed $1 billion blast furnace in St. James Parish, but the company may still build one.

Nucor has already built the first phase of the project: a $750 million, direct reduced iron plant at St. James that employs 170 people.

But the uncertain commodities market hampered those plans, and Nucor missed a year-end deadline to give the state its final investment decision on the complex.

“While we did not move forward with those plans, a potential blast furnace, DRI facility or steel mill project is not off the table,” spokeswoman Katherine Miller said Thursday.

http://theadvocate.com/news/14706795-123/nucor-drops-planned-1-billion-st-james-blast-furnace-project-takes-84-million-charge

From Nucor:

Nucor Corporation (NYSE: NUE) announced today fourth quarter of 2015 adjusted consolidated net earnings of $144.7 million, or $0.46 per diluted share. Adjusted fourth quarter of 2015 consolidated net earnings of $0.46 per diluted share was above our quantitative guidance of $0.15-$0.20 per diluted share due to a larger than forecasted LIFO credit and better than forecasted performance in our steel mills segment. This adjusted net earnings excludes a $153.0 million ($0.48 per diluted share) impairment charge related to our Duferdofin Nucor S.r.l. joint venture and an $84.1 million ($0.17 per diluted share) impairment charge on assets which are primarily engineering and equipment related to the current blast furnace project that we concluded in the fourth quarter of 2015 will not be utilized in the future at our St. James Parish, Louisiana site. Including these two impairment charges, Nucor's consolidated net loss for the fourth quarter is $62.0 million, or $0.19 per diluted share. This compares with consolidated net earnings of $227.1 million, or $0.71 per diluted share, for the third quarter of 2015 and consolidated net earnings of $210.4 million, or $0.65 per diluted share, in the fourth quarter of 2014.  Nucor reported consolidated net earnings of $357.7 million, or $1.11 per diluted share, for the full year 2015, which compares with consolidated net earnings of $713.9 million, or $2.22 per diluted share, for the full year 2014. A reconciliation of Adjusted Net Earnings to Net Loss Attributable to Nucor Stockholders for the fourth quarter of 2015 is as follows:

 Waguespack, Hecht and Jefferson Chamber

The Jefferson Chamber will host a breakfast to discuss Louisiana’s economic development and the challenges and opportunities for the business community in the 2016 state legislative session. Peter Ricchiuti, Tulane University business professor and host of NPR’s Out to Lunch, will moderate the discussion featuring LABI president Stephen Waguespack and GNO, Inc. President Michael Hecht.

The breakfast is scheduled for Wednesday February 3, 2016 at the Chateau Country Club in Kenner

 GNO Inc. Annual Meeting

The annual meeting, “GNO, Inc. Annual Meeting: Leading to the Future” is scheduled for March 10, 2016 with a 11:00 AM Registration, 12:00 PM Program. It will be held at the Hyatt Regency, in New Orleans.

The Annual Meeting event will draw over 1,000 business and civic leaders from across the 10-parish region to highlight the organization’s successes over the past year, install the 2016 Board of Directors and NextGen Council, and hear more about Leading to the Future.

(Image Above: Michael Hecht)

 

Last modified on Thursday, 28 January 2016 12:28
Login to post comments
Powered By JFBConnect
  • Cat Fights on the Hot Cement Confederate New Orleans statues
  • Ex-Saints, Bears, Bills, NFL Exec, Jim W. Miller discusses NFL Draft tomorrow
  • Trump's new plan; Curtains on tax returns release; 40% say Trump-Russia; Probing Obama admin
  • Watch Louisiana Governor Edwards talk about CAT Tax failure

catRarely, have I seen few issues that have generated as much raw heat, tension, and passion than the Confederate monuments controversy. 

Just as existed during the real civil war, where brothers battled brothers, social media is the battleground, particularly Facebook, pitting friend against friend.

On one side of the tense divide, there are those who are protecting the New Orleans civil war era monuments.  Burnt in effigy, forever, is the symbol of Mayor Mitch Landrieu for up-ending what the monument protectors consider to be the loving civil society of New Orleans.

Lately, events have turned somewhat militaristic.

Some protectors of the Confederate monuments have been staying vigilant, in person and online, even surveilling during the wee hours of the morning, waiting for the next Mayor Landrieu attack. On Sunday morning, with protections of snipers, masked workers and a dumbstruck audience, the worst of all of the monuments was cut and carried., the Liberty Monument. 

Read More

miller nfl live2 5It’s D-Day or Draft Day tomorrow in the NFL.

More specifically, Thursday represents the first day of the NFL draft 2017.

Read More

 

trump curtainsThe major President Trump news of the day focuses upon taxes, not only the tax cuts he is proposing but his own taxes, which he obviously, refuses to unveil.

 

Read More

edwards play money 1

At a press conference today, Louisiana Governor John Bel Edwards said the CAT Tax did not pass the House Ways and Means Committee.  The Governor, in addressing the media said that "the fate of that bill was decided long before we unveiled it".

Read More

BB Menu

latter-blum2

Sen. Appel talks budget, economy

TRUMP TALK

Dead Pelican

Optimized-DeadPelican2 1 1