21 November 2006

Bye Bye Freeport-McMoRan

Just like that, another corporate headquarters is likely abandoning New Orleans. The proposed merger of Freeport-McMoRan with the Phelps Dodge Corporation, an Arizona-based mining company that controls much of the copper and gold mining and private lands in the southwestern US, will likely lead to the Freeport headquarters moving to Phoenix. Of course, some of Freeport's staff and office space in New Orleans will be utilized for the near future, but as the merger takes shape and costs are cut through the reduction of duplicate staffing and services, the Freeport/Phelps Dodge office in New Orleans will slowly disappear. The abandonment of New Orleans by Freeport will leave the area with just one Fortune 500 company, Entergy. The continued loss of corporate headquarters from New Orleans, and South Louisiana is a major drain on the economy in the long-term, reduces the number of highly-skilled and well-paid jobs in the region, and makes it difficult for local and state leaders to attract new business. Not to worry though, maybe Blanco and Nagin can get together and turn the Freeport building into a new casino-hotel complex and replace all of those engineering jobs with card dealers.

TAGS: Katrina, New Orleans, NOLA, Freeport-McMoran, Phelps-Dodge, Entergy


At November 21, 2006 11:25 AM, Anonymous Anonymous said...

Dude, if I had my headquarters in state that was re-electing Bill Jefferson after the long list of what he has done, I too would move it to a more stable political environment.

Think about what you are doing. The only businesses that will come to your state will be the kind of business that was not allowed in other states because they don't accept bribes. So they will either be doing shady deals that don't help contribute to your tax base or they be further raining havoc on your environment.

Lets just put a sign up that states "New Orleans is open for shady business"... And if you wonder why you don't have jobs here then just ask the same people you keep electing into office over and over again.

WTF are these blogs for anyway? To talk about Football?

How many of us kept quiet for so long about the tax assesors because we knew our taxes would go up? A lot. And that is why you suck!

At November 22, 2006 6:24 PM, Anonymous ashley said...

Anonymous, I hope you're having a great time in Houston.

At November 23, 2006 11:25 AM, Anonymous Anonymous said...


I am not in houston!

What happened to the anybody but Batt people? I think it is time for them to dust odd their indignation and start putting up some anybody but Bill Jefferson signs! People are not hearing enough about how much of a crook he is. who are the people promoting him? Lets air their dirt too so that people can see what a bunchof crooks they are!

What are we afraid of?


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