The runoff election for Louisiana Public Service Commission District 3 is getting national attention—and a lot of money is being spent. Marsanne Golsby has more.
Cut 1 (31) “I’m Marsanne Golsby ”
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Federal officials say inflation has slowed somewhat in recent weeks. But is it enough to be felt at street level, by the average consumer?
Cut 2 (28) “…I’m Kevin Gallagher.”
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The holiday shopping season got off to a good start for retailers and it’s anticipated to continue. Brooke Thorington has more.
Cut 3 (32) “…I’m Brooke Thorington.”
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The race for Louisiana Public Service Commission’s third district is getting national attention. Fifty-seven-year-old incumbent Lambert Boissiere the third is facing a stiff challenge from thirty-year-old activist Davante Lewis in the December 10th runoff election. Both are Democrats. “LAPolitics.com “publisher Jeremy Alford says Lewis has raised so much money that Lambert is taking note.
Alford says campaign finance reports show Lewis raised $30,000 in one three-day period last week. A high-profile Super PAC has about $1.1 million and is using it to attack Boissiere. The five-member commission regulates utilities and sets electric rates. Alford says Lewis’s support is likely rooted in anger over skyrocketing electric bills.
Alford adds a major infusion of out-of-state donations is helping Lewis. Many are from environmental activists who want the energy industry to shift away from fossil fuels.
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The LSU AgCenter says its possible this year’s sugarcane crop could set a new record if sugar recovery levels continue to perform well. LSU Ag Center sugarcane specialist Doctor Kenneth Gravois says a couple of dry months in the harvest season, allowed this season’s sugarcane harvest in south Louisiana to get off to a fast start…
Gravois says it looks like the crop will produce some 245 pounds of sugar for each ton of sugarcane harvested, which could lead to a record crop…
Early in the season, mills were struggling due to high molasses levels, but Gravois says it appears the problem has solved itself…
According to the American Sugar Cane League, Louisiana’s sugar industry had an economic impact of about three-billion dollars in our state, with nearly 17-thousand jobs throughout Louisiana supported by sugarcane.
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The federal Department of Commerce reports inflation has slowed slightly; now at about 6 percent higher than one year ago. Rising costs and prices had been at over 8 percent recently, posting 40-year highs. Will this small decrease be enough to be felt by consumers? U.L.-Lafayette economics professor Gary Wagner says the answer is probably “no”…:
Cut 10 (12) “…at least into 2023.”
The Fed has raised interest rates benchmark interest rates six times since March to try to slow runaway inflation, and this latest indicates there is some success. However, Wagner thinks the labor market will continue to slow, meaning the economy will continue to worsen…:
Cut 11 (11) “…real consistent yet.”
Despite that, Wagner says the 2022 holiday shopping season is expected to be improved from last year…:
Cut 12 (10) “…that’s favorable.”
Last week, Fed Chairman Jerome Powell said more interest rate hikes are coming, but will likely be smaller than the six three-quarters-of-a-percent jumps seen earlier this year.
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With the holiday shopping season up and running for over a week now, economists are predicting spending this year to increase anywhere from six to eight percent from last year. LSU Marketing Associate Professor Dan Rice says the prediction also has to account for record inflation.
Cut 13 (11) “…up seventeen percent.”
Rice says online shopping is up two percent from last year because more people are using their phones to make online purchases. Rice says the majority of online transactions are purchased via a smartphone versus a tablet.
Shopping trends have proven fruitful for Black Friday, Small Business Saturday, and Cyber Monday this year. Rice says more retailers are extending their sales period and customers are responding.
Cut 15 (08) “…earlier and earlier.”
And barring any supply chain disruptions, an increase in fuel costs, etc., Rice expects sales to continue to go well for most retailers.
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After losing in the SEC Championship game, LSU will have an opportunity to win its tenth game of the season in Orlando when they play Purdue in the Citrus Bowl on January second at noon. Coach Brian Kelly believes it’s already been a successful season winning the SEC West, but getting to ten wins would be really sweet…
There’s a chance some major contributors to the 2022 team will not play in the bowl game and instead prepare themselves for the NFL draft. Kelly says they’ll have those discussions with those players…
The NCAA transfer portal opens today and LSU hit the portal hard to help create the 2022 season. Kelly says they’ll get some guys out of the portal again this year, but they really want to build the program with players they sign out of high school…
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After winning the American Athletic Conference, Tulane will play in the Cotton Bowl and face USC on January 2nd. Coach Willie Fritz says he can’t wait to take on the Trojans…
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The Saints visit the Tampa Bay Buccaneers tonight in Monday night football. New Orleans is four and eight, but still alive to win the NFC South as the Bucs are in first place with a five and-six record. New Orleans defensive end Cam Jordan says they can’t suffer any more losses…