Hoping to take the wind out of Councilman William Theriot’s sails ahead of Tuesday’s council meeting, officials from Lafayette Utilities System argued Thursday that the long-term financial viability of the city-owned utility’s LUS Fiber business is on the horizon. LUS Director Terry Huval, along with Lorrie Toups, chief financial officer for Lafayette Consolidated Government, and CPA Burton Kolder discussed the fiber-to-the-home/business venture’s sustainability during a presentation at City Hall — five days before Tuesday’s City-Parish Council meeting, during which Theriot will give his own presentation on the financial health of LUS Fiber and, we expect, make the case for LCG discontinuing its financial support of the initiative.
LUS officials have been on a public-relations sally for the last week, making the case that despite the spin-off’s financial losses since it was launched in 2009, those losses were anticipated and built into LUS Fiber’s business plan and the business is on track to break even and begin turning a profit by 2015. A briefing on May 21 before the council revealed that LUS Fiber closed out 2011 with a $29 million deficit, a figure The Daily Advertiser parsed into an alarming headline the next day: “Audit: LUS Fiber lost $45,000 a day.” But in a more measured article in The Advocate, Kolder put LUS Fiber’s losses into context: “Normally, most start-up businesses lose money the first three to five years,” he told The Advocate. “... It would be expected.”
The briefing last week, as expected, reignited Theriot’s ideological opposition to LUS Fiber — and that’s what this really is: an ideological argument about a publicly owned utility competing with private enterprise, with Theriot carrying the water for the big, private telecom operators in Lafayette who have opposed LUS every step of the way.
To post a comment, please log into your IND account. If you do not have an account, click the "register" button to create one. Facebook comments can be used as an alternative to creating an account at theIND.com.
AUG 29 Everyone who cares about Louisiana should take time to peruse this story about coastal loss from Bob Marshall of The Lens. It's not enough to call it a story; it's an interactive experience packed with data and amazing graphics, timelines, history, photos and excellent writing. Set aside some time, because you can't go through this one in a few minutes.
JUN 29 This bizarre story from the Advocate on the shooting of a Baton Rouge television personality reads like the script of a soap opera - but not a good one. The allegations against him include sexual abuse of children, including the alleged shooter, and a sham immigration marriage involving his own daughter. The other side? He was a chaplin for the Sheriff's Office in Baton Rouge and preached in a local church.
AUG 29 Here's a story from CBS News about a killer amoeba found in the water system of St. John the Baptist Parish. The story made all three networks (CBS, ABC, NBC) as well as Fox "News," although they have not yet found out how it is Obama's fault. Seriously, the good news is that so far officials know of no one sickened by the water.
AUG 29 Huffington Post has a blog called Love Letters, which is grandly described as "an anthology of reflections on places the world over." This entry is from LSU Football Coach Les Miles, who, it appears, loves Baton Rouge. (Of course he does; he's a rich straight white man.) And certainly Baton Rouge loves him - unless he loses (ask Curley "Golden Flake" Hallman about that) or leaves (ask Nick Saban).
AUG 29 Blogger Bob Mann comments here upon Governor Bobby Jindal's federal lawsuit about Common Core. Mann calls it a "thinly veiled campaign document" and that might be the nicest thing he says in this post. Most troubling for Jindal and his aspirations, Mann has unearthed what Bobby said just a few years ago when he first decided to shove Common Core down our throats.
AUG 29 Blogger Tom Aswell has several developments here related to the so-called Edmonson amendment. The most entertaining one is possibly Tom's acknowledgement that a State Police official is (allegedly) calling the bloggers covering the story some colorful names. Listen up, cowboy: You really think two veterans like Tom Aswell and CB Forgotston care if you call them idiots?
AUG 29 Gotta love those journalists who write something with the enthusiasm that implies they're the first one to figure something out. Mostly, they're not. This is one of those times; the post on Slate Magazine says that Bobby Jindal's Common Core lawsuit is a political stunt. Well - Duh.
AUG 29 This story by WVLA tells us about a guy who got busted for speeding in Baton Rouge. Who cares? This guy took that infraction to new heights by going 129 miles per hour on Nicholson Drive. Poor fella - he probably has spent so much time sitting in Baton Rouge traffic he just had to cut lose.
AUG 28 As the controversy surrounding the Office of Group Benefits intensifies, blogger Tom Aswell gives us some background on the current problems. The OGB, which handles health insurance for current and retired state employees, is deep in the red since it was privatized by Jindal, and Aswell gives us the skinny: this great plan was designed by ALEC. The company handling it? Blue Cross Blue Shield of Louisiana - a longtime member of ALEC.
AUG 28 Blogger CB Forgotston has a concept for a new reality show: the wives of the "Dork Dynasty." That's the name that some troopers have given to State Police Commander Mike Edmonson and his inner circle. The ladies CB has picked for his cast are not just housewives, however, and the connections here are pretty interesting.
AUG 28 Blogger Ian McGibboney is writing about the strife in Ferguson in this post, and articulating what many people down south are saying. There's a fairy tale about how there's tons of racism in the South, but it's all hunky dory up North. (Really? Look again.)
Read the Flipping Paper!
Click Here for the Entire Print Version of IND Monthly