Will New Orleans get any new, modern skyscrapers soon? (store, moving)

[BeenThereDunThat]

One reason for not having huge skyscrapers is that they cost a lot to insure. Considering the actuarial metrics for NOLA, I'd think there would have to be some serious insurance requirements for such an enterprise to take place. And corporate interests would help drive such a thing but didn't a NOLA lose a large O&G company (like Exxon) to Houtson? Seems like big corporate HQ's would be needed for such a thing.

Just thinking out loud, FWIW.

[sconley9922]

Originally Posted by BeenThereDunThat

One reason for not having huge skyscrapers is that they cost a lot to insure. Considering the actuarial metrics for NOLA, I'd think there would have to be some serious insurance requirements for such an enterprise to take place. And corporate interests would help drive such a thing but didn't a NOLA lose a large O&G company (like Exxon) to Houtson? Seems like big corporate HQ's would be needed for such a thing.

Just thinking out loud, FWIW.

I'd agree with that. There is a new industry in natural gas that is starting to ramp up and hopefully could replace the oil industry that we lost to houston. I don't understand how we lost the oil industry when most of the platforms in the gulf are in Louisianas waters/territory.

[annie_himself]

Originally Posted by sconley9922

I'd agree with that. There is a new industry in natural gas that is starting to ramp up and hopefully could replace the oil industry that we lost to houston. I don't understand how we lost the oil industry when most of the platforms in the gulf are in Louisianas waters/territory.

Texas and Louisiana have nearly the same. It's easy to understand. People where fighting to move to Houston and politics weren't as corrupt.

[sconley9922]

Thx for the insight

[BeenThereDunThat]

Timing is everything too. A few years ago when I did more corporate travel, I'd often hear biz colleagues talk about NOLA in a less-than-favorable light concerning the politics at the time. This was during Nagin's tenure and he did the city no favors with his odd-methods and P.R. gaffes. The general consensus I'd get from business meetings is that while there was opportunity with post-Katrina incentives, the impression was that NOLA (and Louisiana in general) presented more risks than rewards judging by who gets elected, how well they performed and what the total net results were / are years after Katrina. And there were just too many "red flags" regarding the post-Katrina effort to rebuild NOLA. Too many stories of incompetence, corruption and odd-dealings. People in Louisiana have grown accustomed to this but I can tell you that from first-hand experiences that people in boardrooms across the country pay close attention to those details.

Yet Houston seems to not have near as bad a rep for bad politics and corruption that NOLA has. Even though it may not be without faults, the O&G industry is looking at Houston as their corporate town and with good reason. Bottomline from those I had dealings with was that there are waay too many "variables" in certain business dealings with NOLA and Louisiana.

Also keep in mind that natural gas development in Louisiana boomed back in 2008 when price per MCF peaked at around $13....creating an "acquisition frenzy of mineral leasing"...however... of the 3 big players: Chesapeake, Petrohawk, Encana..... only 2 are still around...with Petrohawk going broke due to overextending their debt due to the lease-frenzy...they were bought out by BHP Billiton. When Nat Gas dropped like a stone to around $3 MCF, rigs pulled up and went to Eagle-ford, Tx or up north to the Dakotas, taking most of the O&G jobs from NW La. with them. Nat Gas futures are said to remain below $5 MCF for the foreseeable future (10+ yrs out). For O&G companies to drill for more (Dry) Nat Gas, the cost will have to be better than $5 MCF for them to recoup production costs. Right now (wet) Nat Gas is more desirable but Oil is what everyone's after again with the cost of Oil over $100 a barrel.

Local corporate offices in La. are mostly regional hubs.... this is good but not great as compared with major corporate campuses like those in Houston, Dallas, etc. Given the internet-age we live in ....it makes sense from an operational perspective to keep corporate hubs in metro areas that already have a well-established corporate community and use less expensive hub operations for where exploration and development takes place. Because due to the fickle nature of the times we live in, it just makes sense.

[sconley9922]

Well hopefully since we have another Mayor, things will change for the better ...politics here need to change tho

[NativeSon504]

Originally Posted by annie_himself

There's too much room in the core to think about spreading anything out.

I think if NOLA wanted to they could spread out though as I know for a fact the Northshore, N.O. East and the Westbank can hold ALOT more people as well, I'mm talking hundreds of thousands. But I feel what your saying though .

[NativeSon504]

Originally Posted by sconley9922

I like hustle and bustle traffic.. lol. Especially when the city is having an event (ie..esscence fest) and canal street is thick with traffic, I go down there just to be part of it and see the people.

Me too. Imagine what the city would be like if it was like that everyday. Wow!!

[sconley9922]

Originally Posted by NativeSon504

Me too. Imagine what the city would be like if it was like that everyday. Wow!!

Ikr..that would be on some N.Y. stuff

[NativeSon504]

Originally Posted by sconley9922

Ikr..that would be on some N.Y. stuff

No Doubt!