NextGEN sets up headquarters Downtown in campaign to court Lafayette on LUS deal
NextGEN also created a Facebook page and launched a phone campaign to go along with its digital billboards billing a $1.3 billion offer.
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Lafayette Utility Systems (LUS)
Robideaux says the public doesn’t have all the facts on the NextGEN/LUS deal. He’s not helping.
If the public doesn’t have all the facts, it’s in part because he’s not providing them. The bottom line is Robideaux’s account raises some red flags. Here are a few of the big ones.
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The civil service snag in NextGEN’s proposal
The gist: At last week’s presentation to the Lafayette Public Utilities Authority, NextGEN officials indicated with confidence that LUS’s hundreds of employees need not worry about their civil service protection if NextGEN takes over management of the public utility.
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NextGEN’s offer by the numbers
What’s Jim Bernhard’s bid to run LUS really worth?
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Entergy wants a shot at LUS
Robideaux said through his spokeswoman that conversations with Entergy have continued intermittently since at least June of this year.
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Here are five big questions the council needs to ask about Bernhard’s LUS bid
Chief among them: Can we get out of it?
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Bernhard delivers $1.3 billion bid for LUS
Billed as a $4.1 billion deal, the offer is heavy on assumed indirect economic impacts.
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Bernhard tests the waters
Bernhard Capital Partners appears ready to make its pitch to the Lafayette Public Utilities Authority on Oct. 9.
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Bernhard/Robideaux talks go back to at least early 2017 and at one time included Fiber
Emails exchanged between LCG officials and representatives of Bernhard Capital Partners, the private equity firm pursuing management of LUS, show regular sharing of information between the camps beginning in 2017 or earlier, and at one time included an interest in purchasing both the electric division and Fiber. Fiber is not on the table in current discussions; at some point talks turned from a sale to a management agreement.
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Bernhard adjusts focus, management of all three LUS utilities now in play
Some have raised concern that extracting only LUS’s electric division for private management could destabilize the system’s other utilities: wastewater and water. The three systems have entangled debt and rate structures that are messy and risky to pull apart.
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The parish is broke, and it’s a drag on the city’s finances
In the upcoming fiscal year the city general fund will bring in just over $100 million and end the year with a fund balance of almost $40 million. The parish general fund will bring in less than $12 million and end the year with a fund balance of about $100,000.
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Should LUS and Fiber split, four top positions would be vacant at LCG
▸ The gist: Resignations and reorganization have combined to open four director level positions for Mayor-President Joel Robideaux to fill, including some that have been vacant since the beginning of the year. In the coming months, Robideaux will need to appoint replacement directors for planning, information services and technology and, if his restructuring proposal goes […]
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