Week in Review, Aug. 15-19: Loyola, Bollinger, ASAP and More

NEW ORLEANS — Loyola University New Orleans’ School of Nursing has launched an accelerated bachelor of science in nursing degree to help meet the rising demand for nurses nationwide. Designed to be completed in 17 months, the full-time, hybrid program provides students a combination of synchronous online learning and in-person clinical experience at facilities around New Orleans.

“What is already a critical nursing shortage is only predicted to worsen over the next few years, particularly in the southern region,”  said College of Nursing and Health Dean Michelle “Shelli” Collins. “Loyola is poised to be part of the solution. The ABSN program enables those fresh from their undergraduate degrees, as well as post-traditional students, to enter the nursing field efficiently and economically, which helps them personally, while helping to address the nursing shortage most expediently.”

The School of Nursing’s education focuses on “holistic health, patient-centered care and experiential learning.” Collins said the fast-tracked degree will provide students the “benefit of guaranteed clinical placements with one of Loyola’s local healthcare partners and a maximum faculty to student ratio of one-to-ten during clinical work.” The degree also offers extensive preparation for the National Council Licensure Examination.

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Here are more of the week’s top business stories:

According to the July 2022 Monthly Indicators Report from the New Orleans Metropolitan Association of Realtors, high home prices and an increase in homeownership costs continue to slow buyer activity nationwide. Home sales have declined for the fifth consecutive month, but there’s a bright side: despite the summer slowdown, the median sales price continues to rise and homes are still selling quite quickly. “The biggest struggles we’re seeing right now are the interest rates and finding affordable insurance,” said David Favret, NOMAR president, in a press release announcing the new report.

The U.S. Navy has awarded Bollinger Shipyards a contract to engineer and build an unmanned surface vessel capable of mine sweeping and mine hunting missions. The initial contract is for three vessels with options for up to 27 more. Bollinger is a privately held designer and builder of military and commercial vessels. “Bollinger is honored to be entrusted by the U.S. Navy to engineer and build the Mine Countermeasures Unmanned Surface Vehicle program,” said Ben Bordelon, Bollinger president and CEO, in a press release. “Bollinger’s skilled workforce is second to none and will work to build and deliver this advanced capability to our nation’s fleet using the highest levels of craftsmanship and quality that we have come to be known for. We are proud to partner with Huntington Ingalls Industries Unmanned Systems and Raytheon Technologies to build a state-of-the-art, multi-mission unmanned surface vehicle capable of both hunting and sweeping naval mines to support and protect the men and women of the U.S. Navy and our allies around the world.”

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Waitr has changed its name to ASAP, signaling a new “deliver anything” business model. The company’s new vision is same-day delivery from any type of business. In preparation for the rebrand, the company accelerated the expansion of its services in recent weeks, signing agreements to launch delivery of a wide variety of items such as alcohol, sporting goods, luxury apparel, auto and electrical parts, and other “need it now” products. “ASAP expresses our new brand identity, building on our original delivery ethos,” said Carl Grimstad, CEO and chairman of the board of Waitr Holdings. “The strategies we have implemented have reinforced our ‘anything, anywhere ASAP’ vision, making us the go-to company for a wider range of products and services. And of course, our emphasis on working with businesses to make them more successful will never change.”

Entergy Corporation has announced that Leo P. Denault, the utility’s chairman and CEO, will retire in 2023 following 23 years of service to the company and a 40-year career in the energy industry. The Entergy board of directors elected Andrew “Drew” Marsh, current executive vice president and chief financial officer, to succeed Denault as CEO, effective Nov. 1. Denault will continue to lead the board as executive chairman until his retirement. He plans to work closely with Marsh and the senior leadership team to support a “smooth and organized transition that builds on the company’s momentum in areas of customer solutions, renewable energy generation, infrastructure resilience and operational excellence,” said a spokesperson. “Leo Denault has shaped Entergy’s purpose, culture and transformation with a relentless focus on creating long-term, sustainable value for customers, employees, communities and owners,” said Stuart Levenick, Entergy’s lead independent director, in a press release. “Leo has built and led an experienced team that has consistently executed an orderly business strategy with solid underlying fundamentals, including a robust customer base, a strong financial position, a constructive regulatory environment, strong community partnerships, a talented, diverse workforce, and a world-class storm restoration organization. He has strengthened the business and positioned Entergy well for the future. While Leo will continue to serve Entergy for several more months, the entire board expresses its deep gratitude for his years of dedication, service and values-driven leadership. We are confident that Drew will carry the torch and continue serving all of Entergy’s stakeholders well by creating sustainable value today and for future generations.”

Cargill, an international supplier of food, agricultural and industrial products with operations in 70 countries, is upgrading its St. Martin Parish facility that produces food, water conditioning and salt products for a variety of industries. The $34 million modernization project to replace dated equipment and add safety enhancements will enable Cargill to retain 70 jobs at the facility near Breaux Bridge. “Louisiana’s rural communities are primed for investment,” Gov. John Bel Edwards said. “Cargill’s commitment to job retention and reinvestment in its Acadiana Region site reflects the state’s skilled manufacturing workforce and superior logistics, which put the international markets Cargill serves within reach.”

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Brad Pitt’s Make It Right Foundation and homeowners of the houses built by the program in an area of New Orleans among the hardest hit by Hurricane Katrina, have reached a $20.5 million settlement. The Times-Picayune/The New Orleans Advocate reported Wednesday that, pending approval by a judge, each of the program’s 107 homeowners will be eligible to receive $25,000 as reimbursement for previous repairs of the shoddy homes. Under the settlement reached Tuesday evening, the remaining money is to be divided up according to the condition of each of the structures. The settlement represents a major milestone in the long-running saga of homes beleaguered by leaks, rot and other defects. (AP)

Louisiana elected officials, federal partners and maritime stakeholders joined the Big River Coalition on Aug. 16 to celebrate the U.S. Army Corps of Engineers’ completion of the first two phases of the deepening of the Mississippi River Ship Channel, which now provides a maximum draft for vessels to the Port of New Orleans at 50 feet. The ship channel has been mechanically deepened for approximately 200 miles but additional efforts are required to open the deeper draft north of the Huey P. Long Bridge. “The deepening of the Mississippi River Ship Channel is a transformational project that will bolster our economy, create and sustain jobs, and solidify Louisiana’s status as a global anchor for trade,” said Gov. John Bel Edwards at the event. “The economic growth from this project is expected to create several thousand new jobs, which comes on the heels of Louisiana reaching the lowest unemployment rate in state history. It’s an exciting time for our state, and I look forward to facilitating even more growth thanks to the partnerships we have forged.”

On Aug. 18, the Port of South Louisiana officially dedicated and named the two Konecranes Gottwald Model 6 Portal Harbor Cranes to be used at the Globalplex Intermodal Terminal Dock along the Mississippi River. The cranes increase the Port’s capacity for handling bulk materials and will allow for the handling of containers and project cargo. “These investments are not only increasing productivity and efficiencies but are also creating indirect jobs for Louisiana families,” said Paul Matthews, the port’s CEO. “Today we are making it clear that we will continue to invest in our infrastructure so that we can get the goods that families and businesses depend on every day, especially during these challenging times with supply chain issues.” The purchase of the $12.6 million cranes was funded in part (90%) by $11.4 million from the Louisiana Department of Transportation and Development’s Port Construction and Development Priority Program.

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