The Mississippi Business Journal articles from October 2008

The Mississippi Business Journal archives from October 2008

Wild ride.
October 6, 2008... [ILLUSTRATION OMITTED] The bailout of the financial system that once was lost appears to have been found again. The U.S. Senate voted 74-25 the evening of October 1 to pass a sweetened version of the package that was shot down by the...

Financial Planning Week resonates with relevancy this year.
October 6, 2008... For the past six years, the Financial Planning Association (FPA) has held Financial Planning Week, aimed at educating individuals on sound investment strategies and goals. While the information offered is always valuable, this year's event is...

Commission's tax recommendations 'beginning of a dialogue'.
October 6, 2008... A handful of members of Gov. Haley Barbour's Tax Study Commission met with the state tax subcommittee of the House Ways and Means Committee last week to officially recommend changes to the state's tax structure. The Commission, whose...

Aggressive, progressive plan will change Meridian.(Perspective)
October 6, 2008... [ILLUSTRATION OMITTED] The idea seemed simple enough. Visit with Meridian Mayor John Robert Smith. Renew an old acquaintance. Get a quick update on things happening in the Queen City. Share the progress report with you. Driving over,...

Americans should dance with the one that brought 'em November 4.
October 6, 2008... With the Presidential election upon us we are deluged with platitudes from candidates and others about the brilliance of public policy initiatives. Despite what the candidates may espouse, it is not extraordinary domestic policy or the virtues...

Managing reality of healthcare costs.
October 6, 2008... Health care is expensive. And. in addition to being expensive now, it's going to get more and more expensive as time goes on. Other than wringing one's hands, what's a business owner to do? Management entails control. Since the cost of...

Entergy adjusting rates.(Strictly Business)
October 6, 2008... JACKSON -- Customers of Entergy Mississippi Inc. will see another reduction in what they pay for electricity when the company's fourth quarter fuel adjustment went into effect October 1. The quarterly adjustment, effective from October...

MDES offering assistance.(Strictly Business)(Mississippi Department of Employment Security)(Brief article)
October 6, 2008... ACROSS MISSISSIPPI -- Individuals in Hancock, Harrison and Washington counties who were unable to work because of severe storms and flooding associated with Hurricane Gustav, may apply for Disaster Unemployment Assistance (DUA), according to...

L-3 Vertex wins contract.(Strictly Business)
October 6, 2008... MADISON -- L-3 Vertex Aerospace, a subsidiary of L-3 Integrated Systems Group, teamed with The Boeing Company, has been awarded a indefinite-delivery requirements contract valued at approximately $569.7 million to provide all logistics services...

SBA offering Gustav aid.(Strictly Business)
October 6, 2008... ACROSS MISSISSIPPI -- Following the announcement of the Presidential disaster declaration in Mississippi for several counties affected by Hurricane Gustav, the U.S. Small Business Administration (SBA) has programs available to business and...

Chaney urges caution.(Strictly Business)
October 6, 2008... JACKSON -- Mississippi Insurance Commissioner Mike Chaney is urging policyholders to proceed with caution when making decisions regarding their insurance policies as concerns swirl around troubled AIG. The Mississippi Insurance Department...

Defense bill clears House.(Strictly Business)(Conference notes)
October 6, 2008... WASHINGTON -- The House of Representatives has passed S. 3001, the National Defense Authorization Conference Report for fiscal year 2009. This legislation authorizes $531.4 billion for the Department of Defense and $68.6 billion to support...

Denbury's operations rebound.(Strictly Business)
October 6, 2008... DALLAS -- Denbury Resources Inc., the largest independent oil and gas company operating in Mississippi, reports that almost all production has returned to normal following Hurricanes Gustav and Ike. While there was minimal physical damage...

Hard work, commitment next steps as Carthane looks to future.
October 6, 2008... The City of Carthage recently held a planning charrette aimed at developing a future vision for the small community, and many attendees were driven to tears--of joy. "When the charrette team started presenting their ideas, I couldn't help...

McGlinchey Stafford.(People to Watch)(appointment of Lindsay Thomas )(Brief article)
October 6, 2008... Lindsay Thomas has joined McGlinchey Stafford as an associate in the firm's Jackson office. She practices in the commercial litigation section. [ILLUSTRATION OMITTED] Earlier this year, Thomas graduated from Mississippi College School...

Watkins Ludlam Winter & Stennis.(People to Watch)
October 6, 2008... Watkins Ludlam Winter & Stennis associate Jason Wilton Bailey has been named president of the Desoto County local affiliate of the Young Lawyers Division. He works in the firm's Olive Branch office and focuses his practice in estate and tax...

Baptist Memorial Hospital-Golden Triangle.(People to Watch)(appointment of Brad Parsons)(Brief article)
October 6, 2008... Brad Parsons has joined Baptist Memorial Hospital-Golden Triangle in Columbus as an assistant administrator. He will supervise the hospital's imaging lab, rehabilitation services, behavioral health, oncology, material management, hospice and...

BancorpSouth Insurance Services Inc.(People to Watch)
October 6, 2008... Justice O'Keefe Duhon of Hattiesburg has joined Stewart Sneed Hewes, a division of BancorpSouth Insurance Services Inc., as an account executive in the firm's employee benefit division. [ILLUSTRATION OMITTED] An Ocean Springs native,...

Stressed out? Managing it critical to physical, mental health.
October 6, 2008... Stress in the workplace doesn't have to be all bad. But too much of it can cause both mental and physical problems that can impact not just your work productivity, but your personal life. Michael Hall, L.M.S.W., outreach coordinator for...

Despite challenges, gaming 'strong and robust,' Gregory says.
October 6, 2008... In spite of high gasoline prices, a slowing economy and the threat of hurricanes, gaming revenue from state-licensed casinos continues to roll into state coffers. Gross gaming revenues were $2.81 billion for the 12 months ending June 30,...

Jackson looks to Little Rock for downtown arena.(Downtown Jackson Partners)
October 6, 2008... The Downtown Jackson Partners CEO was a veritable master of ceremonies last week at the TelCom Center where a gathering of business people, government officials and media listened to Allen outline the positive economic impact an arena would...

Despite sputtering economy, development continues in state.(Focus)
October 6, 2008... While no area of the country can be completely immune from the turmoil in the national financial markets, most regions in Mississippi are managing to continue on an even keel and in some cases are making significant strides in economic...

Conservative lending climate could pay dividends amid turmoil.(Focus)
October 6, 2008... When it comes to banking, it is now more apparent than ever that it pays to be conservative. "Most of the lenders in Mississippi tend to be conservative lenders," said Dr. Phil Malone, chair of the Department of Finance at the University...

Positive business climate, skilled workforce still attracting projects.
October 6, 2008... If you would expect that the Mississippi Development Authority (MDA) is seeing fewer prospects because of the concerns about tightening credit and the volatility of the stock market, you would be wrong. "No, MDA is not seeing fewer...

SMG officially managing complex.
October 6, 2008... Special to the Mississippi Business Journal On October l, the Jackson Convention and Visitors Bureau (CVB) officially handed over the keys of the Mississippi Telecommunications and Conferencing Center (TelCom Center) to SMG. SMG...

Retirement plans changing as Wall Street uncertainty hits home.(Focus)
October 6, 2008... With the stock market gyrating wildly, continuing bad news about declining home values, increasing mortgage foreclosures and the proposed $700-billion bailout of financial institutions, concerns about the economy are on the top of most people's...

Certified retirement communities.(Directory)
October 6, 2008... Certified Retirement Communities City Director Address Aberdeen Deborah Stubblefield Aberdeen Visitors Bureau 204 E. Commerce Street ...

Nothing says tasty like Magnolia State-made specialty foods.(Focus)
October 6, 2008... There's no shortage of good food in Mississippi, including a wide range of tasty treats that make great gifts. These products proclaim the best of Mississippi to clients, perspective customers, friends and long-lost relatives. They might even...

Business leaders take skills, resources into local communities.(Executive Gift Guide)
October 6, 2008... Many of Mississippi's top executives take time from their busy schedules to give back to their communities, using their leadership skills to lead in a wide array of projects. Last week, the Mississippi Business Journal caught up with a few...

Luxury auto dealerships avoiding highs and lows thus far.(Focus)
October 6, 2008... A report issued earlier this month shows that even the wealthiest among us are feeling the squeeze from the economy. USA Today tallied luxury car sales from August and the numbers showed that the business of fine automobiles experienced a...

Automobile dealerships.
October 6, 2008... Automobile Dealerships Dealership, Year Founded Phone/Fax Address Website/E-mail Watson Quality Ford Inc., 1982 (601) 956-7000/(601) 977-8332 6130 I-55 N., Jackson, MS 39211,...

Malls.
October 6, 2008... Malls Name, Year Founded Address Contact Person Metrocenter Mall, 1978 Clarence Evans, General Manager 3645 Hwy. 80 W., Jackson, MS 39209 Northpark Mall, 1984 Audrie...

Sales tax collections holding up well around the Magnolia State.(Executive Gift Guide)
October 6, 2008... There's good news regarding retail sales in Mississippi. Sales tax collections for the state's municipalities for the month of August remained strong. Those are the most recent figures available, and they show increases for four of the state's...

Retailers cast anxious eyes to the upcoming holiday shopping season.(Focus)
October 6, 2008... While the current economic uncertainties have affected all business and industry, perhaps none are more concerned than retailers. Money is tight and consumer spending is plummeting--not a good harbinger for the upcoming holiday season. The...

Short-term loan? Ask ol' Uncle Sam.
October 13, 2008... In the latest round of government intervention into a struggling economy, the Federal Reserve announced an initiative it hopes will prop up the sagging business loan market. At issue is commercial paper, a form of short-term lending that...

Get smart.
October 13, 2008... [ILLUSTRATION OMITTED] The new Mercedes Smart Car debuted in Mississippi last Thursday morning at Higginbotham Mercedes-Benz-Porsche in Jackson. Higginbotham is the only dealership in the state to carry the vehicle, which features a...

Early childhood education first step in economic development.
October 13, 2008... What is the best way to ensure Mississippi has a workforce that can compete globally? Is there a certain way to turn Mississippi into an economic development hotspot? How about the most effective method of combating poverty? "No matter...

Southern Farm Bureau Life Insurance Company promoting Breast Cancer Awareness Month.
October 13, 2008... As part of Breast Cancer Awareness Month, Southern Farm Bureau Life Insurance Company is hosting "Wear Pink Day" October 14. Employees are encouraged to wear pink in order to raise awareness for breast cancer. The SFBLI Employee Committee will...

[Cartoon].(Perspective)(Cartoon)
October 13, 2008... YOU THINK YOU HAVE IT BAD? [ILLUSTRATION OMITTED]

Momentum building as advocates tout arena.(Perspective)
October 13, 2008... Investing $102,000, even in these challenging financial times, to determine if construction of a multi-purpose arena in downtown Jackson is feasible seems a reasonable move. Especially so if results of the strategic study concur with gut...

Yes, Virginia, we're in a bear market.
October 13, 2008... Yes, Virginia, we are in a bear market. And just like Santa Claus, it is hard to believe that it is true. It doesn't make sense that something like this Scott Reed could happen. Aren't we all entitled to big houses that increase in value every...

RnR2: passion weaves golden thread.
October 13, 2008... The core function of marketing Michael Graber boils down to generating enthusiasm. The plan, strategy, tactics and parameters either inspire success, or the venture or particular line of business withers. Marketers: create a fire or be...

Insurance issues on the Coast on the agenda for recent hearing.
October 13, 2008... Coast residents were on hand to tell their insurance stories to the House of Representatives Insurance Committee at a hearing in Biloxi September 30. The hearing was called by chairman Walter Robinson Jr. to discuss housing and insurance issues...

Banks adding relationship managers with specialized skill sets: helping executives, families make transition to state.
October 13, 2008... Anyone who has made a career-related move to a new community knows that transition is a part of the job as families adjust to new work, educational and recreational environments. But what if the move also means learning or enhancing skills in...

Cabot Lodge installs new sign to show 'Hospitality Comes Naturally'.(Brief article)
October 13, 2008... [ILLUSTRATION OMITTED] Cabot Lodge installs new sign to show 'Hospitality Comes Naturally'--Launched in 1984 by MMI Hotel Group as its own brand, Cabot Lodge features a warm, homelike atmosphere which has developed fierce customer loyalty...

Program's goal? Give smaller contractors a solid foundation.
October 13, 2008... During the best of times, starting a new construction company is rife with challenges. In addition to the need ['or a business plan, financing and other requirements any new business must meet, start-up and/or minority contractors must quickly...

Cabot Lodge North.(People to Watch)(appointment of Kammie Smith)(Brief article)
October 13, 2008... Kammie Smith has been named director of sales for the Cabot Lodge Jackson North, part of MMI Hotel Group, and will be in charge of all sales efforts for the Ridgeland property. Her primary responsibilities will be to devise marketing and action...

HORNE LLP.(People to Watch)
October 13, 2008... HORNE LLP recently promoted four employees to senior manager in its Jackson office: Jenifer McCain, Joe Green, Steven Mulhollen and Wes Winborne. All tour team members serve clients in assurance services. Two employees in the Hattiesburg...

State Bank & Trust Company.(People to Watch)
October 13, 2008... Jay Hines as has been promoted to assistant vice president-branch manager with State Bank & Trust Company. He has nine years of experience in banking and finance. [ILLUSTRATION OMITTED] Hines began his career after graduating from...

GranthamPoole CPAs.(People to Watch)
October 13, 2008... Angela Antici, CPA, has joined GranthamPoole CPAs as a member of the tax team. The McComb native attended Millsaps College, graduating summa cure laude with a bachelor of business administration degree, majoring in accounting. At Millsaps, she...

May & Company, LLP.(People to Watch)(appointment of H. Riley Nelson)(Brief article)
October 13, 2008... H. Riley Nelson, CPA, has joined May & Company as a partner in the Vicksburg firm. [ILLUSTRATION OMITTED] In his new role, Riley oversees accounting, auditing and tax related engagements and directs the tax department. A native of...

MMA honors excellence in vocational.(Madison Career and Technical Center instructor Jim Walker was awarded by Mississippi Manufacturers Association)(Brief article)
October 13, 2008... [ILLUSTRATION OMITTED] Jim Walker, technology applications instructor with the Madison Career and Technical Center (MCTC), is the recipient of the 2008 Mississippi Manufacturers Association (MMA) Award for Excellence in Vocational...

PSC investigating utilities.(Strictly Business)
October 13, 2008... JACKSON -- Mississippi Public Service Commissioner (PSC) Leonard Bentz has opened an inquiry into the interest rates, also known as "carrying charges," used by electric utilities within their fuel adjustment charges. The PSC said an...

IRS offering relief.(Strictly Business)
October 13, 2008... ACROSS MISSISSIPPI -- Following severe storms and flooding caused by Hurricane Gustav, Hancock, Harrison and Washington counties were declared Presidential disaster areas. As a result, victims in those counties may qualify for tax relief,...

L-3 Vertex wins extensions.(Strictly Business)(L-3 Communications Vertex Aerospace L.L.C.)(Brief article)
October 13, 2008... MADISON -- The U.S. Navy and Air Force has awarded a series of contract option extensions to L-3 Vertex Aerospace. The Navy has awarded the company three extensions to existing contracts: * $58.6 million for total aircraft maintenance...

CMI hits record low.(Strictly Business)
October 13, 2008... COLUMBIA, MD. -- The seasonally adjusted Credit Manager's Index (CMI) for October plummeted a record 3.3% to reach a historic low of 47.4, clearly indicating economic contraction, according to the National Association of Credit Management...

Mosquito-borne illnesses rising.(Strictly Business)
October 13, 2008... ACROSS MISSISSIPPI -- The Mississippi State Department of Health (MSDH) reports three new human cases of West Nile virus (WNV) for 2008, bringing the state's total number of WNV cases to 96 with three deaths. The new cases are in Jones, Leflore...

'Ground Zero' progressing.(Strictly Business)(Mississippi Development Authority funds for damages caused by hurricane)
October 13, 2008... HANCOCK COUNTY -- To date, the Mississippi Development Authority (MDA) has invited formal, complete applications for Hancock County Ground Zero Program projects totaling almost $124 million. This $200-million federally funded program seeks to...

Camgian reports strong year.(Strictly Business)
October 13, 2008... STARKVILLE -- Camgian Microsystems Corporation, provider of advanced engineering solutions for defense, intelligence and homeland security, reports it has closed a very successful government fiscal year. "During the last 12 months, we have...

Rental program continuing.(Strictly Business)(Mississippi Development Authority)(Brief article)(Conference notes)
October 13, 2008... MISSISSIPPI GULF COAST -- On October 13, the Mississippi Development Authority (MDA) will begin round two of the Small Rental Assistance Program (SRAP). Kick off begins with the first of 16 workshops for property owners considering applying for...

EIGS companies growing.(Strictly Business)(enterprise for innovative geospatial solutions)(Brief article)
October 13, 2008... OXFORD -- According to the Enterprise for Innovative Geospatial Solutions (EIGS), Mississippi's geospatial technology cluster remains strong despite the current economic woes. Using impact data it collected for 2007-2008, the EIGS reports...

The McCarty Company celebrating 25 years of business success.(Architects & Engineers)
October 13, 2008... Over its history, The McCarty Company in Tupelo has had a lot to celebrate. However, this year is proving to be particularly momentous as the firm marks its 25th year in business. At press time, The McCarty Company was preparing for an...

GEO expanding in state.(Strictly Business)(The GEO Group Inc.)(Brief article)
October 13, 2008... MERIDIAN -- The GEO Group of Boca Raton, Fla., will open a 500-bed expansion of the 1,000-bed East Mississippi Correctional Facility. GEO manages the facility under a management agreement with the Mississippi Department of Corrections. GEO...

AGC: quick action needed.(Strictly Business)
October 13, 2008... WASHINGTON -- Following a Bureau of Labor Statistics report showing construction lost 35,000 jobs in September, the Associated General Contractors of America (AGC) is urging quick action to revive the industry. "The drop in construction...

EEOS: reach out, engage, enhance industry competitiveness.(Focus)
October 13, 2008... With help from a new umbrella organization, the Mississippi State University (MSU) Bagley College of Engineering is working to provide critical services to state industries. Rounding out its first year of operation, the Engineering...

In middle of economic chaos, engineering firms on steady track.(Architects & Engineers)
October 13, 2008... Is the engineering profession recession proof, moving along unfettered by the woes of the economy? For the most part it is. Several of the state's engineering firms acknowledge that work is ongoing and firms are still hiring. Tom Elliott,...

Engineers.
October 13, 2008... Engineers Names/Year Founded Top Officers Address Phone/FAX Website/E-mail Neel-Schaffer Inc., 1983 Hibbett Neel, Gorman Schaffer, 125 S....

Storied architecture firms expand reach with recent merger.(Focus)(Guild Hardy Architects P.A. merged with Eley Associates Architects P.A.)
October 13, 2008... The recent merger of two architectural firms unites a number of the state's most storied names of architecture. Biloxi-based Guild Hardy Architects, one of the state's fastest-growing firms, and Eley Associates/Architects, a venerable Jackson...

Architects moving cautiously with projects, watching financing.(Architects & Engineers)
October 13, 2008... Some of the state's leading architectural firms are keeping a cautious eye on the troubled economy while continuing to focus on their diversified projects. "We are beginning to see a concern being expressed by our private sector clients,"...

Architectural firms.(Directory)
October 13, 2008... Architectural Firms Top Officer/Position Name Phone/Fax Address E-mail Web site Eley Guild Hardy Architects, P.A. James H. Eley 1041...

Magnolia roots run deep for Cobb.(Focus)(Society of Bill Cobb Petroleum Engineers)(William M. Cobb)
October 13, 2008... How did a farm boy from Kewanee, Mississippi, a Lauderdale County town near the Alabama border with a population of approximately 12 to 15, grow up to be president of the largest, most prestigious organization in the world for petroleum...

Petroleum engineers in demand as prices peak, thirst soars.(Architects & Engineers)
October 13, 2008... Petroleum engineering has, like the oil industry itself, gone through boom and bust cycles through the years. And right now the demand for petroleum engineers is so high compared to the supply of graduates that oil companies are reaching out to...

Wet harvest weather makes trouble for state's corn crop.(Architects & Engineers)
October 13, 2008... Corn farmers are finally completing harvest of what is possibly the state's second-highest average yield, but abundant rainfall caused delays, made harvest more difficult and hurt some grain quality. Erick Larson, grain crops specialist...

Out of balance? Allegations of bias swirl around campaigns for Mississippi Supreme Court.
October 20, 2008... Each of the nine candidates for the Mississippi Supreme Court will tell you that it is vitally important that the state's highest court be fair and impartial. But some of the candidates claim the present Supreme Court has a bias towards big...

Allen shares simple message with Realtors: 'we have to get it'.
October 20, 2008... The Jackson Association of Realtors held a continuing education, "Smart Growth" seminar last week at the TelCom Center, and Downtown Jackson Partners head Ben Allen had a simple message for the 350 people in attendance. "We have to get...

Bare-knuckled budget battles expected when session convenes.
October 20, 2008... It was already a given that, after a round of bare-knuckled special sessions over the summer failed to produce a solution, that the method of funding the state's obligation to Medicaid would be an onerous issue come January when the Mississippi...

Walsh takes helm of alumni affairs.(University of Mississippi has appointed Timothy L. Walsh )(Brief article)
October 20, 2008... Timothy L. Walsh has been named executive director of alumni affairs at the University of Mississippi. A search committee selected by Chancellor Robert Khayat chose Walsh, who served as interim executive director after Warner Alford retired...

Guerrero joins Wells Marble.(Cristina Guerrero)(Wells, Marble and Hurst)(Brief article)
October 20, 2008... Cristina Guerrero has joined Wells Marble & Hurst, PLLC, as an associate. She devotes her practice to insurance defense, general litigation and business transactions. Cristina is also a registered patent attorney and a certified mediator. ...

Mississippi Council on Economic Education spreading gospel.
October 20, 2008... Five years ago, there was no such thing as the Mississippi Council on Economic Education. Now the group is holding awards luncheons with more than 700 people in attendance and being recognized as one of the leading chapters of the National...

Worried about ID theft? 'Buy a shredder ... shred everything'.
October 20, 2008... The Federal Trade Commission (FTC) was founded in 1914 through the Federal Trade Commission Act, one of former President Woodrow Wilson's major policy initiatives, and has grown into a behemoth of an agency charged with the elimination of...

Interventions, infusions continue but markets underwhelmed.
October 20, 2008... In what has become almost a weekly ritual designed to brace the economy, the U.S. Treasury Department announced last week that it would infuse the U.S. banking system with a total of $250 billion. The first $125 billion will go to nine...

Young professionals adjusting to ups and downs of the economy.
October 20, 2008... As the drama of the country's economy plays out on the national stage, young professionals in Mississippi are watching closely and making adjustments in their daily lives as they look toward the future. Anna Langley, a CPA with the BKD...

Security Credit Services taking delinquent debt, turning into profit.
October 20, 2008... If you've glanced at your latest 401(k) statement, you know that the current economic climate has wreaked havoc on traditional investment portfolios. But while the blue chips falter, one alternative investment is actually earning returns during...

State's sweet potato growers face harvest challenges this fall.(Mississippi Agribusiness)
October 20, 2008... Sweet potato yields and quality appear to be favorable despite rains that have harvest season running seven to 10 days behind schedule. Calhoun County Extension director Charles Fitts said growers in Mississippi's sweet potato heartland are...