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Daily Archives: November 29, 2010

Problem assets declining for Miss. banks. Fluke or trend?

By Amy McCullough More than half of metro area banks across Mississippi have experienced a decrease in troubled or problem assets during the most recent quarter (ending June 2010), according to data from the Bank Tracker website. A “troubled asset ratio” compares the sum of troubled assets with the sum of Tier 1 Capital plus Loan Loss Reserves. Generally, higher ...

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Congress delays cuts to dr. Medicare payments

WASHINGTON — Congress agreed Monday to a one-month delay in Medicare payment cuts to doctors, giving a short-term reprieve to a looming crisis over treatment of the nation’s elderly. The House, in approving by voice vote the bill passed by the Senate earlier this month, postponed a 23 percent cut in doctors’ pay scheduled to take effect Dec. 1. That ...

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Miss. gas storage facility to expand

HOUSTON, Texas — ENSTOR has announced expanded storage capacities at two of its U.S. gas storage facilities: Caledonia in Lowndes County, Mississippi, and Grama Ridge in Lea County, New Mexico. The high-deliverability, multi-cycle Caledonia facility has increased its maximum certificated working gas capacity from 16.9 Bcf to 22.0 Bcf. That effectively pushes maximum daily withdrawal rates to 550,000 Mcf/day and ...

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Insurance co. wants Diaz kicked off case

JACKSON — An insurance company wants former Mississippi Supreme Court Justice Oliver Diaz kicked off a lawsuit involving imprisoned former attorney Paul Minor. Minor, meanwhile, thinks the federal judge in the case should step down because he’s the same judge who presided the criminal case that sent Minor and two former judges to prison. Minor, Diaz, and former Harrison County ...

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AT&T service to compete with Gulf Coast cable TV

BILOXI — Gulf Coast residents now have a new choice for their television and communications services. AT&T* today announced the launch of AT&T U-verse® services in parts of Biloxi, D’Iberville, Gulfport, Long Beach, Moss Point and Ocean Springs, including AT&T U-verse TV, AT&T U-verse High Speed Internet and AT&T U-verse Voice. AT&T U-verse services, which are all delivered over AT&T’s ...

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Obama to freeze federal worker pay

WASHINGTON — President Barack Obama will announce a two-year pay freeze for federal employees Monday, a move White House officials say is the first of many difficult decisions that must be made to reduce the nation’s mounting deficit. The White House said Monday that the freeze would apply to all civilian federal employees, including those working at the Department of ...

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If big banks fail again, creditors will see only limited protection

By Ted Carter Been wondering just how the federal government plans to divvy up the assets of the Too-Big-to-Fail financial institutions if they go wobbly again? It will do the resolution assets the same way it handles those of much smaller institutions, FDIC Chairman Sheila C. Bair told the National Conference on the Securities Industry in New York recently. As ...

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FDIC endorses shift in loan-loss policy

By Ted Carter Sheila Bair, the FDIC chair, says the agency thinks a healthy balance can be achieved in standards for setting aside loan-loss reserves. “In that regard, we support moving from a probable-loss measurement of impairment to an expected-loss threshold,” she says. This, she says, will ensure that financial institutions maintain appropriate resources on hand to absorb losses. Conceptually, ...

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Ditto On State History Museum

Jackson developer Kane Ditto, former mayor of Jackson and current president of the Board of Trustees for the Mississippi Department of Archives and History, talks with MBJ-TV about upcoming plans for a new Mississippi state history museum.

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2 face sentencing in Miss. Medicare fraud case

JACKSON — The owners of a defunct clinic accused of bilking Medicare and Medicaid out of millions of dollars await scheduled sentencing Monday in what prosecutors have described as a massive fraud scheme. Prosecutors say Theddis Marcel Pearson and Telandra Gail Jones owned and operated Statewide Physical Medicine Group Inc., which billed Medicare and Medicaid for more than $39 million ...

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