Daily Report

A fourth straight month of modest hiring in October led to the first decline in the U.S. unemployment rate since July—a 0.1% drop to 9%—the Labor Department reported this morning. Although hiring actually slowed a bit in October, the government says job growth was much stronger in August and September than originally reported. Regardless, today's report suggests President Barack Obama will likely face voters with the highest unemployment rate of any postwar president as he campaigns for re-election in 2012. The Labor Department says the economy added 80,000 jobs in October. It was the fewest in four months and far below September's revised total of 158,000. The government revised August and September's data to show 102,000 more jobs added than originally reported. Even so, October's modest job growth is barely enough to keep pace with population growth—about twice as many jobs are needed to lower the unemployment rate. The economy generated an average of 130,000 jobs per month in the third quarter, up from 97,000 in the preceding three months. Still, that's down from 166,000 each month in the first quarter of the year. The biggest revision of numbers by the government today is for August. Initially, it reported employers added zero net jobs that month; the finding has since been revised twice to show 104,000 jobs added.

A comprehensive new study profiling 280 of America's most profitable companies finds 78 of them paid no federal income taxes in at least one of the past three years. Over the same period, 30 companies enjoyed a negative income tax rate despite combined pretax profits of $160 billion. These are among the findings in "Corporate Taxpayers and Corporate Tax Dodgers, 2008-2010," a study by Citizens for Tax Justice and the Institute on Taxation and Economic Policy. "These 280 corporations received a total of nearly $223 billion in tax subsidies," says Robert McIntyre, the director at Citizens for Tax Justice and the report's lead author. "This is wasted money that could have gone to protect Medicare, create jobs and cut the deficit." The study examines 280 corporations, all from the Fortune 500 list. All of the companies were profitable in each of the last three years and provided sufficient and reliable information in their financial reports about their pretax U.S. profits and their U.S. federal income taxes. "Corporate tax loopholes are so out of control that most Americans can rightfully complain, 'I pay more federal income taxes than General Electric, Boeing, DuPont, Wells Fargo, Verizon, etc., etc., all put together,' " reads the report, which you can access in its entirety or as an abbreviated version here.

Louisiana is getting $3.6 million for a walking path in Baton Rouge, a bridge in New Orleans and sidewalk improvements in Kenner and Jena. The money comes from the federal Transportation Enhancement Program, says U.S. Sen. Mary Landrieu, adding the grant's aim is to improve roads and create more biking and walking paths. Baton Rouge is getting the lion's share of the grant—$1.4 million to construct a 6.5-mile-long walking path along the crown of the Mississippi River levee from Farr Park to Ben Hur Road. In New Orleans, $844,400 will be spent to rehabilitate the Magnolia Bridge. In Kenner, $423,000 will be spent on sidewalks and landscaping. In Jena, $967,000 will help make the town compliant with Americans with Disabilities Act requirements.

The narrow defeat of a pair of ballot measures that would have expanded two municipal boards in East Baton Rouge Parish didn't get as much media coverage as Gov. Bobby Jindal's win or the BESE races, but were every bit as important, says Business Report Executive Editor JR Ball. "Largely escaping notice is that voters of East Baton Rouge Parish correctly opted for the greater good over parochial self-interest—albeit barely," Ball says. "The slim defeat of proposals to expand the at-large membership of the boards governing the library system and BREC—adding specific representation for the cities of Baker, Central and Zachary—offers a glimmer of hope for the future of East Baton Rouge." Read the full column here. Send your comments to editors@businessreport.com.

Gov. Bobby Jindal's chief of staff says that "overwhelming" majorities of both houses support the governor's choices for Senate president and speaker of the House. Yet, just to be sure, decisions on key chairmanships, particularly in the Senate, might not be made until after the leadership votes are taken in January. Sen. John Alario, R-Westwego, and Rep. Chuck Kleckley, R-Lake Charles, have both said they will wait until all runoffs are decided on Nov. 19 before making committee assignments in consultation with the governor. But while Kleckley said some decisions would be made before Thanksgiving, Alario tells LaPolitics, "I don't want to put a deadline on it," and that he might wait until the presidency is formally decided on Jan. 9. While there is no competition left for Alario, some of his Republican colleagues have heard complaints from conservative constituents opposed to the candidacy of the former Democrat who served two terms as speaker under former Gov. Edwin Edwards. Before Jindal made his choice known, there was some talk among senators that one might call for a voice vote, to put Republicans on the spot. But since Jindal's announcement, other president hopefuls have dropped their bids. Unless someone opposes Alario, a voice vote is pointless.

—The man that presidential candidate Herman Cain has blamed for leaking the sexual harassment story involving Cain to the press is a partner in the political consulting firm that worked for Gov. Bobby Jindal. Curt Anderson, who works now for candidate Gov. Rick Perry, said he did not know about the allegations before he read them in Politico this week. On Thursday, Cain's campaign manager said they no longer believe Anderson was the source. Anderson and his brother Wes are partners in OnMessage, the consultant for Jindal's re-election campaign. Jindal's former chief of staff Timmy Teepell, who took leave to run the governor's campaign, joined OnMessage as a partner last week. OnMessage was retained by the Perry campaign last month. "From conversations I had with him (Anderson) about Herman Cain and Rick Perry, if he had known I would have known," says Teepell. "I can tell you he was not the source." On Wednesday, Cain said that while Curt Anderson worked for his 2004 Senate campaign, he told the consultant about the sexual harassment suit in order to prepare for its being used against him.

They said it: "I am not going to get mad, go away and blow up the whole world." —Sen. Danny Martiny, on not being the governor's choice for Senate president, in The Times-Picayune

(John Maginnis publishes LaPolitics Weekly, a newsletter on Louisiana politics, at LaPolitics.com.)

Early voting for the Nov. 19 elections begins Saturday. The East Baton Rouge Parish Office Registrar of Voters has four offices that will be open from 8:30 a.m. to 6 p.m. daily during the early voting period, except for Sundays, when the offices are closed. The offices in Baton Rouge are at 222 St. Louis St., room 201 of the Governmental Building; 3851 Essen Lane, inside the State Archives Building; and 10500 Coursey Blvd., room 203. The Baker office is inside the Motor Vehicle Building at 2250 Main St. All registered voters can cast an early vote, provided they bring with them a driver's license, a Louisiana Special Identification card or "some other generally recognized picture ID that has your name and signature," according to the Secretary of State's Office.

Red Stick Farmers Market will celebrate 15 years in downtown Baton Rouge Saturday with its first-ever "Tailgating Throwdown" cook-off competition. Individuals and teams will compete along the streets of downtown using local ingredients from the Red Stick Farmers Market. Celebrity judges Poppy Tooker, Lt. Gov. Jay Dardenne and Jay Ducote will determine the Throwdown champion and the winner of the "best use of local ingredients" award. You can sample all the tailgating fare from 9 to 11 a.m. and vote for the people's choice award by purchasing a $15 tasting bracelet. The tasting will take place along North and Fourth streets. Bloody Marys and mimosas will be available for purchase, and music will be provided free of charge by Mel Chavis, the John Gray Jazz Trio and the Fabulous Bagasse Boyz. More information can be found at the farmers' market website here. Read this week's complete 225 Dine newsletter here.

The signs, they are a-changing: The Aspen Suites Hotel at 4964 Constitution Ave. is now the DoubleTree by Hilton Baton Rouge. The hotel is operated by Summit Hotel under a franchise license agreement with a subsidiary of Hilton Worldwide, and is managed by Interstate Hotels & Resorts.
The show goes on: The Mid City Merchants preview for White Light Night scheduled for Thursday, Nov.10, has been canceled due to "unforeseen circumstances," according to a release. The White Light Night Art Hop, however, remains on schedule for Friday, Nov. 18, from 6 to 10 p.m. in the Mid City Cultural District.

Watch it on the big screen If you're going to be in New Orleans Saturday, you can catch the LSU-Alabama game at Champions Square, the entertainment zone located next to the Superdome. The game will be broadcast on the 18-foot by 32-foot LED video board. Entry into the area is free. Kickoff is set for 7 p.m., but gates will open at 5:30 p.m. with pregame entertainment and food for purchase. Officials say food and beverages brought in from outside the area are prohibited, but fans are encouraged to bring folding chairs to help create "a tailgate experience."

Today's poll question:Who will win Saturday's showdown between No. 1 LSU and No. 2 Alabama?