AG clears 4 of 15 firms of hurricane price-gouging
The News Review:
- AG clears 4 of 15 firms of hurricane price-gouging
- Judge dismisses hurricane insurance lawsuit
- Sand hauled in to repair stretch of Galveston beach
- Katrina recovery: new push to help small landlords
- Luby’s Announces First Quarter Fiscal 2009 Results
- Chapman schools need bond issue for tornado repair
AG clears 4 of 15 firms of hurricane price-gouging
Houston Chronicle United States
html LITTLE ROCK Ark. — Four of 15 firms subpoenaed in an investigation of possible price-gouging at gas stations as Hurricane Ike approached Texas have been cleared of any wrongdoing Attorney General Dustin McDaniel said Wednesday. McDaniel issued subpoenas in September seeking information from the companies on what they had paid wholesalers for the gasoline they sold to consumers for comparison to retail prices so his office could determine if the firms sought excessive profits. He said at the time that his investigation was prompted by telephone complaints from 1450 people about suddenly high gas prices plus more than 2400 complaints sent by e-mail or text message. A news release from McDaniel’s office Wednesday said all 15 companies subpoenaed had responded but more information and documentation was being sought from most of them. “However four parties have provided information and documentation demonstrating that their conduct did not violate the Arkansas Price-Gouging Law or the Arkansas Deceptive Trade Practices Act” the release said.
Judge dismisses hurricane insurance lawsuit
Forbes NY
Foti’s suit accused McKinsey & Co. a consulting firm of advising insurers to “stop ‘premium leakage’ by undervaluing claims using the tactics of deny delay and defend. “It runs much longer than simply Hurricane Katrina” Alex Watkins a lawyer for Caldwell’s office told Zainey. “Hurricane Katrina was the focus of everyone because there were so many claims. Lee the State Farm lawyer said the suit makes “simple breach-of-contract” allegations that don’t support claims of a price-fixing scheme. “There is no price-fixing. There is no antitrust conspiracy” Lee said.
Sand hauled in to repair stretch of Galveston beach
Houston Chronicle United States
html GALVESTON — Dump trucks unloaded sand on beaches Wednesday in an emergency project designed to replenish sand washed away by Hurricane Ike and to protect the Seawall. Fifty trucks working from 7 a.
Katrina recovery: new push to help small landlords
The Associated Press
(AP) — An $849 million Hurricane Katrina recovery program hobbled by red tape and the national credit crunch will seek to issue rebuilding money directly to small landlords without the involvement of banks officials said Wednesday. The Louisiana Small Rental Program was designed to restore 18000 properties but has distributed only 433 grants so far. The program had required banks to release rebuilding loans to small landlords who then applied for reimbursement grants through the program. The owners of shotgun homes and cottages that kept rent cheap in New Orleans for generations found it virtually impossible to obtain those recovery loans needed for rebuilding after the devastating 2005 storm. The credit crunch only exacerbated the problem as financial institutions tightened lending requirements.
Luby’s Announces First Quarter Fiscal 2009 Results
MarketWatch
9% compared to the same quarter last year; approximately 3. 5% of the decline relates to the net effect of sales from closed stores in the prior year partially offset by new store sales in the current year. Additionally restaurant sales were negatively impacted during the quarter by approximately 3. 1% due to the effects of Hurricane Ike and the calendar shift associated with Thanksgiving occurring one week later this year than last year — Same-store sales which consisted of 117 restaurants decreased approximately $4. 7% due primarily to declines in guest traffic partially offset by higher menu prices. The negative impact of Hurricane Ike and the unfavorable calendar shift on same-store sales were approximately 2.
Related from Sales-monster: Chico’s FAS Inc. Announces Third Quarter and Nine Month Net Sales …
Chapman schools need bond issue for tornado repair
Hays Daily News KS
(AP) — Despite receiving millions in insurance government help and donations Chapman school officials say they will need a bond issue to repair school buildings damaged by a June 11 tornado. The tornado destroyed or damaged the district’s elementary and middle schools the district office art building and three-fourths of its high school. The district always expected to ask voters to approve a bond issue to cover remaining costs said Tony Frieze Chapman superintendent. “I think realistically to get all new facilities you can’t expect everything to be paid for” Frieze said. The district won’t know exactly how much of a bond it will need until January or February but Frieze estimated it will be $10 million or less when it goes up for a vote in April. “For that we’re getting all new facilities.