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| Photo by Elizabeth Rose |
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| VER's Bill Bacqué, Gail Romero and Nancy Van Eaton Broussard joined Latter & Blum Chairman and CEO Robert Merrick, second from left, and President Richard Haase Wednesday to announce a merger of the two companies. |
As ABiz reported online Monday, speculation had been heating up lately that a deal was cooking between the two companies — Van Eaton & Romero appeared to be a good fit for the aggressively expanding New Orleans-based real estate entity. The largest real estate firm in the Crescent City, Latter & Blum in the past entered into similar agreements with C.J. Brown in Baton Rouge and Noles-Frye in Alexandria, both tops in their respective markets. Like those firms, Van Eaton will retain its autonomy and brand, with the line “A Latter & Blum Company” added to all of its marketing and advertising.
The value and terms of the merger were not disclosed. “There was no money that changed hands,” Bacqué tells ABiz, explaining that the trio of owners will be stockholders in Latter & Blum Holding Company.
Van Eaton & Romero’s principals said they will all remain with the firm; at this point in the dealings there is no strategy for any of them to retire, according to Bacqué. “It’s part of a succession plan but not one where we have any vision of walking away.” The merger is the mechanism that will ensure the local company has continuity for its agents long beyond his and his partners’ work there, he says.
Van Eaton-Broussard and Romero founded the firm in 1977; Bacqué, now 61, joined them in 1990.
Latter & Blum’s companies will finish 2012 with almost $1.8 billion in total sales volume, which includes 8,400 total units sold, the company announced Wednesday.
“The technological, managerial and strategic support coupled with the regional, national and worldwide connections that we are gaining by becoming one of the Latter & Blum family of companies heightens our capabilities exponentially,” Bacqué said in a prepared statement.
“This alliance will lead to unprecedented financial strength, growth and breadth of offerings,” said Merrick, Latter & Blum’s chairman and chief executive officer. The combined entity will have a sales staff of 1,300 in the Louisiana, he added.
The value and terms of the merger were not disclosed. The deal marks a major expansion into the Acadiana market for Latter & Blum, which currently has only commercial property management and low-income housing property management operations here. Founded in 1916, the company also operates in southern Mississippi.
The audit says the Department of Education didn't verify that school-reported data used to calculate performance was reliable. It says the department couldn't prove that it comprehensively reviewed the legal obligations required of charter schools.
Policyholders with questions about their claims can speak with flood insurance program specialists.
Policyholders with questions about their claims can speak with flood insurance program specialists.
Second-line parades have been around for generations as part of Mardi Gras and other holiday celebrations, and are perhaps best known as a feature of the city's famed jazz funerals.
Second-line parades have been around for generations as part of Mardi Gras and other holiday celebrations, and are perhaps best known as a feature of the city's famed jazz funerals.
The Louisiana Board of Ethics has cleared former Director of Traffic and Transportation Tony Tramel to conduct private traffic-engineering consulting work, including with Lafayette Consolidated Government.
The Louisiana Board of Ethics has cleared former Director of Traffic and Transportation Tony Tramel to conduct private traffic-engineering consulting work, including with Lafayette Consolidated Government.
The longtime assistant U.S. attorney received the Child Protection Award at the annual National Missing Children’s Day commemoration held in Washington, D.C., this week.
The longtime assistant U.S. attorney received the Child Protection Award at the annual National Missing Children’s Day commemoration held in Washington, D.C., this week.
Faced with a student population that threatens to outgrow existing facilities, a shrinking budget and no guarantee parish voters are ready to support new taxes following the last failed election in 2011, one option for relief for the Lafayette Parish School System could come in the form of two charter school organizations.
Faced with a student population that threatens to outgrow existing facilities, a shrinking budget and no guarantee parish voters are ready to support new taxes following the last failed election in 2011, one option for relief for the Lafayette Parish School System could come in the form of two charter school organizations.
The case is tied to the 2008 payment of $1.9 million by present and past members of the team to Louisiana Film Studios LLC. But the studio's chief, Wayne Read, never applied for the credits and never gave the money back.
The case is tied to the 2008 payment of $1.9 million by present and past members of the team to Louisiana Film Studios LLC. But the studio's chief, Wayne Read, never applied for the credits and never gave the money back.
Gov. Bobby Jindal's latest financial disclosure report, released Thursday, shows his $127,592-a-year state salary provided the main source of income for him and his wife in 2012.
Gov. Bobby Jindal's latest financial disclosure report, released Thursday, shows his $127,592-a-year state salary provided the main source of income for him and his wife in 2012.
Up to 45 branches of Hankcock Back and Whitney Bank are slated for closure in the coming months, according to an announcement made Friday by Hancock Holding Co. President and CEO Carl J. Chaney.
Here's your daily look at late-breaking national and international news, upcoming events and the stories that will be talked about Monday, May 20, 2013:
Jordan Wallace posted yet another shutout, and because of that UL's softball team is back in familiar territory in the NCAA Super Regionals.
Brianna Cherry's early homer and Jordan Wallace's right arm combined Saturday to put UL's softball team one win away from the NCAA Super Regionals.
It wasn't easy, but UL's softball team made it through the first step in NCAA Tournament play Friday. Now they'll face LSU's Tigers in the biggest game of the season so far at noon Saturday in the NCAA Regional Tournament.
This weekend, treat yourself to some fine local theatre with 18 Victoria, grab some new gear at Pack & Paddle’s garage sale, or spread the love with The Riveters at Hippie Fest.
Bayou Teche Brewing Co. in Arnaudville has been named one of the 10 best micro breweries in these United States.
Somewhere in that nether realm between sodden Saturday nights and sacred Sunday mornings live the Mercy Brothers.
The Louisiana Board of Ethics has cleared former Director of Traffic and Transportation Tony Tramel to conduct private traffic-engineering consulting work, including with Lafayette Consolidated Government.
The longtime assistant U.S. attorney received the Child Protection Award at the annual National Missing Children’s Day commemoration held in Washington, D.C., this week.
The jobless rate rose to 6.5 from 6.2 percent in March, though it remained below April 2012's 6.8 percent rate.
Faced with a student population that threatens to outgrow existing facilities, a shrinking budget and no guarantee parish voters are ready to support new taxes following the last failed election in 2011, one option for relief for the Lafayette Parish School System could come in the form of two charter school organizations.
The case is tied to the 2008 payment of $1.9 million by present and past members of the team to Louisiana Film Studios LLC. But the studio's chief, Wayne Read, never applied for the credits and never gave the money back.
The 6-foot-4, 315-pound Aaitui is entering his third year as a pro out of UNLV.
Gov. Bobby Jindal's latest financial disclosure report, released Thursday, shows his $127,592-a-year state salary provided the main source of income for him and his wife in 2012.
A ban on posting to social media sites like Facebook and Twitter while driving appears likely to hit Louisiana's law books.
Public schools, already required to have written crisis management plans, will now have to coordinate those plans with local law enforcement and emergency preparedness officials — and hold annual safety drills to rehearse them.
Bayou Gauche brand launches with a sophisticated design and bit of southern charm
The Obama administration said Thursday it will require companies that drill for oil and natural gas on federal lands to publicly disclose chemicals used in hydraulic fracturing operations.
Two brothers with a history of drug arrests and suspected ties to a neighborhood gang each face 20 counts of attempted second-degree murder in a shooting spree that brought a sudden bloody end to a neighborhood Mother's Day parade.
Senators are expressing skepticism about some assumptions House lawmakers used to balance next year's budget.
Downtown Lafayette Unlimited will celebrate yesteryear with an old-fashioned drive-in movie off the 700 block of Jefferson Street Saturday.
Attorney General Buddy Caldwell asked a Baton Rouge judge to block access to records requested by a company whose $200 million Medicaid contract was canceled by Gov. Bobby Jindal's administration.
Louisiana driver's licenses would be used to comply with federal law requiring each state to create a national identification card for air travel, including domestic flights, under a proposal inserted Wednesday into a House bill by the Senate Transportation Committee.
The state owes local school districts $30 million because the Louisiana Supreme Court threw out this year's public school funding formula, Superintendent of Education John White said Wednesday.
The proposal by St. Bernard Parish Rep. Ray Garofalo stalled on a 47-47 vote Wednesday. Garofalo, a Republican, can try again if he can pick up the six votes needed for passage.
The hiring of William Root, announced Wednesday, comes after Gov. Bobby Jindal's administration canceled a nearly $200 million Medicaid contract whose award is being investigated by state and federal officials.
Louisiana residents faced with having to pay back hurricane aid money because they failed to meet certain government requirements could get a break under changes the state outlined Wednesday.
A federal appeals panel has upheld the dismissal of a lawsuit filed by a group of Mississippi Gulf Coast residents and landowners who alleged that emissions by energy companies contributed to global warming, which intensified Hurricane Katrina, which, in turn, damaged their property.
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