Word: gumbo
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Dates: during 1980-1989
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Louisiana's Dixieland music and crayfish gumbo have drawn millions of tourists over the years, but the state has had far less success in attracting new businesses and jobs. To help it compete with high-tech meccas such as California and Massachusetts, the Louisiana legislature has approved a jazzy venture-capital program. The new law, believed to be the first of its kind in the U.S., will provide income tax credits of up to 35% for individuals or companies investing in venture-capital firms in the Bayou State. Louisiana has long lacked investment money for young, speculative businesses. Much...
Crotti's barnyard brainstorm has already undergone tests at a 31,500-gal. spill in the Mississippi River 20 miles downstream from New Orleans. The oil had spread over a 14-mile area, washing into coves and turning the marshy ground into a black mush the locals call "gumbo." While strings of floating booms helped contain the spill, a four-man team from Peterson Maritime Services, the largest private firm in the gulf area treating oil spills, began tossing out about 100 lumpy white squares from their flat-bottomed swamp boats. Almost at once, the muck began to stick...