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Discussion Starter · #1 ·

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I'm thrilled!

Entergy today announced that its corporate headquarters -- displaced by Hurricane Katrina nearly eight months ago -- will return to New Orleans. The company, headquartered in New Orleans since 1922, will also establish primary business offices in other locations to better align functional processes with business unit needs.

The majority of corporate employees will return to work at Entergy´s headquarters at 639 Loyola Avenue in New Orleans, some as early as next week. Others, including some with children attending out-of-town schools or who do not have a home to return to at the present time, will return later in the spring or early summer.

After Katrina struck August 29, most of the corporate center´s 1,500 employees and contractors were temporarily relocated to Clinton, Miss.; The Woodlands, Texas; Little Rock, Ark. and other cities.

"We are happy to be coming home and are energized about continuing to help rebuild the city and hope our decision -- as disciplined as any we have ever made -- will send a strong message the city is returning to its previous greatness," said J. Wayne Leonard, Entergy´s chief executive officer. "Although we understand the intense interest in the headquarters decision, it´s important to note that even though our local utility, Entergy New Orleans, is currently in a bankruptcy proceeding due to the massive damage to the company´s infrastructure, Entergy workers have been in New Orleans and other parts of the region all along, responding to the
devastation caused by Katrina and Rita in the communities we serve."

In addition to the return of its corporate headquarters to New Orleans, Entergy announced that it will establish new primary office locations in Hammond, La., and Little Rock, Ark., to improve the functionality of its business processes and organizational design. Entergy is organized around a highly matrixed functional structure with business units such as Entergy New Orleans, Entergy Louisiana, Entergy Mississippi and others responsible for safety, service, reliability and profitability. Groups being partially relocated or dispersed include information processing, finance, accounting, transmission, distribution operations, customer service and human resources.
 

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You know, the state giving them $500 million didn't hurt. I'm proud of Louisiana for stepping up to the plate and bailing 'em out. Killed two birds with one stone... got Entergy back, and saved us from paying ridiculous rates.
 

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Discussion Starter · #10 ·
Well, it was reported last night on the Mayor's debate, that Entergy New Orleans, a subsidiary of Entergy, did report a profit for all of 2005, in spite of Katrina. That is a revelation I found to be quite interesting. Web site: http://www.entergy.com/
 

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I suppose that the New Orlenians in here have noted that the Entergy sign on top of 639 Loyola has been repaired. I had a feeling we'd get good news as I saw the scaffolding cover the sign.

Anyone notice the "C" on top of Place St. Charles? Definitely appears to be the beginnings of a CapitolOne sign.
 

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Discussion Starter · #12 ·
JPKneworleans said:
I suppose that the New Orlenians in here have noted that the Entergy sign on top of 639 Loyola has been repaired. I had a feeling we'd get good news as I saw the scaffolding cover the sign.

Anyone notice the "C" on top of Place St. Charles? Definitely appears to be the beginnings of a CapitolOne sign.
Didn't notice...I was at a seminar there last week with the bank. Not sure how much space we've got there..seems like a lot.
 

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Cannonized said:
You know, the state giving them $500 million didn't hurt. I'm proud of Louisiana for stepping up to the plate and bailing 'em out. Killed two birds with one stone... got Entergy back, and saved us from paying ridiculous rates.
Cannonized: From the press, you would have thought the state bailed em out. However, it turned out to be low-interest bond money that I believe Entergy must repay.
 

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JPKneworleans said:
Cannonized: From the press, you would have thought the state bailed em out. However, it turned out to be low-interest bond money that I believe Entergy must repay.
Wow that's great news. I was a little confused when I heard that Entergy New Orleans, even with Katrina, posted a profit for 2005. So, this is good news.
 

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SChristopher said:
Did Capital One have large operations in New Orleans?
Not before Capitol One bought Hibernia National Bank. As a result of its acquisition of Hibernia, Capitol One's banking headquarters is now located in New Orleans. (I think. Sean can confirm).

I noticed this morning that all Hibernia Bank signs had been replaced with CapitolOne signs. What a sad day for New Orleans. :-(
 
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