Baton Rouge lost its only Fortune 500 company Feb. 13, when the $3.04 billion sale of The Shaw Group to CB&I, a Netherlands-based company with U.S. operations headquartered in The Woodlands, Texas, finally closed. For more than seven months the deal was scrutinized by analysts and challenged in shareholder lawsuits. Now that it is done, what will it mean? The answer depends on who's asking. For the 1,000 or so local employees at Shaw's corporate office, the future is questionable. As he was packing his office on the eve of the closing, Shaw's Jim Bernhard told Business Report local employees are nervous. "Folks at Shaw are very concerned, which is normal,"?Bernhard said, adding that CB&I has done little to assuage worries about job security. "Communications with the new company could have been better. Hopefully, that will improve as they move forward." CB&I did not respond to requests for comment, but analysts say at least some of those concerns are justified. "Sure, there will be some shifting around of corporate functions and ... a lot of the overlap at the corporate level needs to be rationalized," says Brian Konigsberg, an analyst with Vertical Research Partners in Stamford, Conn. "But for the most part, a lot of the staff on the ground will certainly remain." Konigsberg says if he were working in one of Shaw's operations segments, he would not be concerned about job security. But, he says, "if I was in the corporate office it would be a different discussion."