Wednesday, June 22, 2011
Written by The Independent Staff
We’ll never know just how critical a role he played, but U.S. Sen. David Vitter certainly sufficiently pressured the SEC to make a determination on whether victims of Allen Stanford’s alleged Ponzi scheme are entitled to insurance coverage. The long-awaited recommendation came after a two-year battle that started with a Securities Investor Protection Corp. opinion that Stanford victims were not eligible to file claims. It also came a day after Vitter put a hold on two SEC member nominations. In its decision, the SEC said people who bought so-called CDs through the Stanford Group Co., Stanford’s U.S. brokerage arm, are entitled to the insurance; the SIPC says it’s studying the decision. Those who lost money can only recover up to $500,000 of their investment (unrecoverable is the interest most paid taxes on for years), which won’t make all local investors whole, but it’s a start to rebuilding their financial futures. Though its recommendation is a major victory for Stanford victims, the SEC’s Stanford problems are far from over, as local investors have sued the regulatory agency, alleging negligence and misconduct.
When Louisiana Family Forum backs a bill, be afraid — be very afraid. Joining a long list of bait-and-switch legislation, led by the granddaddy of them all — the Louisiana Science Education Act — is House Bill 580 by West Monroe Republican and avowed proponent of “academic freedom” for creationists Frank Hoffman. HB 580 neuters the state Board of Elementary & Secondary Education in its oversight role for vetting textbooks in public-school science classes, giving over authority for such purchases to local school boards and, consequently, opening the door for pseudo-scientific claptrap like Intelligent Design filtering into the curriculum. The Louisiana Coalition for Science and other groups have come out strongly against the bill, which sailed through the House with all of Lafayette Parish’s reps voting in favor. As The Ind headed to press Monday the bill was scheduled to be heard by the full Senate. By this reading it has likely passed and is headed to Gov. Bobby Jindal, who has a biology degree yet, as we unfortunately know, holds his political base in higher esteem than he does the basics of mainstream science.
Maybe the best argument for evolution and its quirks is U.S. Rep. Michelle Bachmann, who believes Intelligent Design — that’s creationism in a lab coat, kids — should be taught alongside evolution because, well, just because and Obama’s bad, America first, bomb Iran, hotdogs and apple pie. Bachman made an off-hand reference to Nobel laureates having doubts about evolution in 2006, a claim challenged by recent Louisiana high school graduate Zack Kopplin, leader of the doomed charge to repeal the LSEA in the legislative session and a top-notch student who, not coincidentally, will attend college outside Louisiana this fall. More than 40 Nobel laureates — all of them in the sciences — signed on to Kopplin’s mission to repeal the LSEA. The outspoken Tea Party fave was in New Orleans last week for the 2011 Republican Leadership Conference, and Gambit Editor Kevin Allman asked Bachman to enumerate her Nobel ringers on the anti-evolution side. Bachmann cited “reasonable doubt” in the evolution debate before rolling into a rambling answer involving “government bureaucracy,” states’ rights and block grants. What she didn’t do was answer Allman’s question.
Local and state agents Thursday night raided The Keg, the popular college bar located in the area known as The Strip, leading to the (at least) temporary closure of the venue.
Here's your daily look at late-breaking national and international news, upcoming events and the stories that will be talked about Friday, April 18, 2014:
Friday's Blogs from the Bog!
Time and time again, the Lafayette Parish School Board shows an overwhelming tendency toward idiocy, but Wednesday night’s contentious discussion over Northside High School’s teen mother program tops the list of dumb discussions.
C & C Technologies, HIT Fitness, R3 Sciences, the Acadiana Symphony Association and the United Way of Acadiana recognized for innovation.
“The accomplishment of this goal within the next ten years is not only critical for the region to effectively compete with other regions for residents and businesses, but also to provide an amenity for everyone in Acadiana to enjoy.”
Education Superintendent John White says a continued push to try to keep Louisiana from using tests associated with the Common Core education standards are creating "a state of chaos" for public school teachers.
The Acadiana Symphony Orchestra has decided to end its traditional Independence Day spectacular known as Red White & Boom.
Under the deal, Teche shareholders would get 1.162 shares of IberiaBank for each share of Teche stock.
Gov. Bobby Jindal's plan to use $210 million in surplus and one-time money to help balance next year's budget received the backing Thursday of the State Bond Commission, support that was needed for the maneuver to work.
Acadiana's nightlife guide.
State wildlife and fisheries agents have arrested a 39-year-old man accused of stealing crawfish.
An East Feliciana Parish lawmaker has jettisoned his proposal to make it harder for a condemned prisoner to appeal a death sentence.
Senators advanced a proposal Wednesday that would let the governor remove New Orleans-area levee board members for violating what he considers to be public policy, despite concerns it would introduce political meddling into state flood protection.
The must have pieces this season
Dave Perkins, LCG Comp Plan honored along with local architects and designers at the 2014 INDesign Awards
Greg Manuel’s Lafayette-based residential development company is taking advantage of exponential industrial growth in Lake Charles.
Longtime Lafayette retailer ventures online.
It’s not how aggressive or conservative you are — it’s planning for risk that matters most.
Thanks to cutting-edge digital technology, more and more consumers are banking on ATMs and mobile phones.
Regional bank bids farewell to Downtown May 30
ABiz takes a look back at the most noteworthy moments for the local banking industry over the last year.
Most experts say short-term interest rates will be unchanged through 2014, but long-term rates are inching up.
Largest recruitment event in Acadiana returns May 21 to the Cajundome Convention Center
A lawyer’s ad should only be a starting point, as there is much more to consider when seeking quality representation.
Thanks to the inaugural 2012 INNOV8, a design for lifting heavy objects was brought to market.
The annual juried competition recognizes excellence in architecture, interior design and historic preservation in Lafayette and the five surrounding parishes.
Cypress Bayou GM hosts open house.
New hires, promotions, transfers in Acadiana business
The scion of a landmark Four Corners restaurant climbs back into Lafayette’s culinary scene as franchisee for a popular burger chain.