Louisiana gets $11M settlement in interest rate manipulation
BATON ROUGE, La. (AP) — Louisiana is receiving $11 million as its share of a multistate settlement with Deutsche Bank over the manipulation of a key benchmark involving global interest rates.
Attorney General Jeff Landry's office, which was involved in the settlement, says $3 million will go to the Bond Commission and the remaining $8 million to the transportation department.
According to the treasurer's office, the $3 million will be used to pay down state debt, freeing up general state tax dollars for other spending areas. The $8 million will be available to pay for road construction debt, freeing up gasoline tax dollars to use on other projects.
Forty-five state attorneys general were involved in the investigation and resulting $220 million settlement with Deutsche Bank first announced in October.
Restaurant workers donate to replace dishwasher's stolen car
LAFAYETTE, La. (AP) — When a restaurant dishwasher's car was stolen, his co-workers pitched in to buy a replacement.
Restaurant manager Chris Muffoletto tells The Advertiser that Kea Senegal had saved for months to buy the car. News outlets report it was stolen just before Thanksgiving from the restaurant parking lot in Lafayette.
Muffoletto says he asked the staff at Ruffino's on the River last week if they'd help.
They raised $2,500 in three days. Muffoletto says a used-car dealer, Don's Wholesale Automotive, heard about what they were doing and matched the donations.
On Wednesday, Senegal was given a 2015 Chevrolet Malibu.
Video shows Senegal wiping away tears after co-workers gathered on the parking lot move away to let him see the car.
Anti-gas tax hike ads planned for Louisiana's gas stations
BATON ROUGE, La. (AP) — A conservative group that helped squelch a 2017 proposal to raise Louisiana's gasoline tax is launching an early ad campaign aimed at derailing any similar tax proposal next year.
Americans for Prosperity-Louisiana, funded by the Koch network, says its campaign will use Christmas-themed videos shown on gas pump screens at heavily-used stations in Louisiana's urban areas.
The Advocate reports that digital ads also are planned.
Any legislative efforts aimed at increasing the gas tax are expected to be nearly impossible to pass next year, in a statewide legislative election year. But supporters of more road and bridge money still are seeking the tax hike.
Gov. John Bel Edwards' administration proposed a 17-cent-per-gallon increase last year, but the measure died without a vote in the House, unable to pass amid strong opposition.
Posted on Tue, December 4, 2018
by The Lafourche Gazette