Thursday, 14 October 2010 08:40
Lifting Of Oil Moratorium Could Be Good For New Orleans Hornets Fans
Written by  {ga=EdStaton}

staton1Edison Chouest Offshore, Gary Chouest's company, suffered a setback after Chouest and New Orleans Hornets owner George Shinn entered negotiations to buy the franchise.

It was reported that the sale to Chouest was off because the billionaire hadn't stepped up to purchase the team.


The company owns and operates a growing fleet of offshore service vessels supporting a vast majority of the U, S, Gulf deepwater market, as well as a large independently owned fleet of research vessels.

So the moratorium and oil spill were cause for concern for Gary Chouest and his company, and why the sale of the team too a backseat to more pressing issues. It was expected that the moratorium would cause Edison Chouest to lay off hundreds, if not thousands of workers. They held rallies protesting it and a lot of money lobbying to get it repealed. The spill was a big deal for a lot of persons, but not many more than Chouest. Edison Chouest could have lost as much as $300 million because of the oil spill and moratorium.

On July 15 the oil spill was finally capped, but that was no where near the end of the matter for Edison Chouest.

The moratorium for deep-water offshore rigs was in effect  and was scheduled to remain so until Nov. 30.

On Oct. 2, Chouest gave his first interview in months and disclosed that his company had not been forced to lay off any workers, which meant that about 8,000 workers still had jobs.

The moratorium being canceled  was either the last or second-to-last of a number of roadblocks in which Chouest is trying to run through to eventually becoming the Hornets' majority owner. He owns 25 per cent of the franchise now.

The last remaining hurdle if it still exists at all  would be the $24 - to $30 million he and Shinn are rumored to be apart on the price of the franchise.

At least now, we can say, "Stay tuned."

by Ed Staton

Buy your Saints/LSU jerseys at Louisiana Sports Talk

 

Login to post comments
  • 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

latter-blum2

Sen. Appel talks budget, economy

TRUMP TALK

Dead Pelican

Optimized-DeadPelican2 1 1