Biden considering ‘alternatives’ after OPEC oil production cuts
President Biden says the White House is exploring alternatives after OPEC’s decision to slash the amount of oil delivered to the global economy.
Ariana Triggs, Associated Press
Each week, we’ll offer insights into new businesses, developments and closings in the area. And we’ll answer your questions about what’s happening in a vacant store or empty lot. Email us at email@example.com.
Two Lafayette web firms are partnering to create one of the largest web development companies in the state, Comit Developers announced this week.
Comit Developers is acquiring the web hosting, development, maintenance and security of Bizzuka’s web clients and its web development team — a partnership that would allow the Lafayette-based companies to have a larger footprint across the state.
“This acquisition will allow us to provide greater services to more companies across the country,” Comit Developers co-founder Spencer Hoyt said in a release.
The two companies have more than 20 years of experience with web design, digital marketing and customer service. The two firms have worked together before, with Hoyt partnering with Bizzuka CEO John Munsell to provide search engine optimization support to Bizzuka clients in 2003.
Oilfield services company making Lafayette its hub for northern Gulf of Mexico operations
Around 113 new jobs could be coming to Acadiana after an oilfield services company announced it would be investing $11.5 million to centralize its North Gulf Coast divisions in Lafayette, according to a release from Louisiana Economic Development.
More:Oil and gas company to invest $11.5 million in Lafayette, 113 jobs coming to Acadiana
Schlumberger announced plans to consolidate the divisions at a newly-renovated hub in Lafayette, which is expected to bring 44 new direct jobs and 69 indirect jobs to the Acadiana region, while also retaining nearly 1,400 existing jobs in Louisiana.
“Schlumberger has been an economic driver in Louisiana for more than half a century, and the company remains a vital contributor to our state’s “all of the above” approach to energy,” Gov. John Bel Edwards said in a release. “This investment not only creates dozens of high-paying jobs in Lafayette, it demonstrates a commitment to the future of more than 1,000 existing energy jobs around the state. In the midst of a historic transition, Louisiana’s energy sector remains strong.”
The hub will be in the company’s former Pathfinder office building in Lafayette Parish, which is currently unoccupied. The building is undergoing extensive renovations that will result in 195 construction jobs at the peak of construction. The renovation is expected to be finished in 2025.
Schlumberger is one of the largest employers in Lafayette Parish, ranking 19th with around 508 employees, according to the Lafayette Economic Development Authority. The company also has operations in Morgan City, New Iberia, Berwick and Broussard.
Waitr delaying vote on reverse stock-split
Waitr Holdings, the company that owns ASAP (formerly called Waitr), announced it is postponing its special stockholders meeting that was originally supposed to be held Oct. 6 until Oct. 20, saying the company did not have enough favorable votes to pass a reverse stock split.
The company is at risk of being delisted from the NASDAQ if its share price does not climb north of $1, and the reverse stock split has been the favored approach by the company’s leadership.
More:US could face a recession in 2023. Lafayette could still get more jobs
The reverse split would take between five and 20 of the company’s existing shares and combine them into a single share, which would likely raise the price per share. The company had a vote earlier in the year on a similar measure, but it failed to get a favorable vote from the majority of the shareholders.
Waitr Holdings said in a release that there is “significant support based on the shares that were voted by stockholders,” but it still did not have a majority of all shareholders.
The company’s leaders have maintained that the reverse split is “necessary to ensure a share price high enough to satisfy the continued listing requirements of the Nasdaq Capital Market.” Though the company has also made it clear that there is no guarantee that the price will hold at that level.
GIPHY App Key not set. Please check settings