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Monthly Archives: December 2010

City looking to enact redevelopment tax

RIDGELAND — The City of Ridgeland will seek legislative — and ultimately voter — approval for a 1 percent increase in the local sales tax to redevelop a southeastern area and reduce the number of apartment complexes. The tax would be very similar to the tourism tax currently levied on Ridgeland hotels, motels and restaurants, which is used to advertise ...

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City officials put hold on marina project

WAVELAND — Officials in Waveland have put a hold on plans for a $6-million marina project. The Sun-Herald reports that Mayor David Garcia and the Board of Aldermen in Waveland plan to meet soon with state officials and an engineering firm to discuss whether the project should be continued. The mayor said some Waveland residents are questioning the need for ...

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Polymer manufacturer bringing plant, jobs

PHILADELPHIA — AlphaGen Materials, a manufacturer of polymer ceramic coatings, will locate a plant in Philadelphia. The announcement was made Dec. 22. The plant will be located in a 235,000-square-foot facility formerly occupied by U.S. Motors. The plant represents a $10-million investment and will create 200 new jobs. The Mississippi Development Authority helped city officials to fund public infrastructure improvements, ...

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New security threat: Banks as information gatekeepers

By Ted Carter How far does the right to refuse service go? The New York Times posed this question in an editorial Sunday after Bank of America joined Visa, MasterCard and PayPal in refusing to accept payments designated as contributions to America’s newest villain – Wikileaks. Wikileaks has been busy leaking tens of thousands of classified documents on everything from ...

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Fitch places Whitney on 'Rate Watch Evolving' after merger

NEW ORLEANS — Fitch Ratings has placed Whitney Holding Corp.’s (WTNY) ratings including its respective ‘BBB’ and ‘F2’ long- and short-term Issuer Default Ratings (IDRs) on Rating Watch Evolving. The action follows the announcement that WTNY and Gulfport-based Hancock Holding Company (HBHC) have entered into a definitive merger agreement. While Fitch does not currently rate HBHC, Fitch believes the combined ...

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Cal-Maine sees sales rise, earnings fall

JACKSON — Cal-Maine Foods Inc., for the second quarter ended Nov. 27, 2010, saw net sales of $234.5 million, compared with net sales of $229.2 million for the same quarter of fiscal 2010. The company reported net income of $15.2 million, or $0.64 per basic share, compared with net income of $16.1 million, or $0.68 per basic share, for the ...

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Transportation officials release 'wish list'

WASHINGTON — The American Association of State Highway and Transportation Officials (AASHTO} has compiled a list of very distinct – and pressing – issues that loom at the local, state, and federal levels.   “We are urging Congress to write a balanced bill next year that meets the needs of preservation and new capacity, meets the needs of rural and ...

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‘Newk’ing it

Chris Newcomb changing culture of fast food in Mississippi and across the South Founding and growing a successful company is no easy task, and it defies the odds of start-up failure rates.  While a Harvard Business School research paper found that a venture-capital-backed entrepreneur who succeeds in a venture has a 30 percent chance of succeeding in his next venture (as ...

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Job growth expected meager

Any job growth will be appreciated for those who have been without during recession Stephen Douglas doesn’t need the latest labor statistics to tell him that finding a job in 2010 was tough. That’s because the Oxford resident, who worked as a pharmaceutical sales representative for 12 years before being laid-off earlier this year, feels the pain and pressure of ...

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MBJ Editorial: Working class facing more steep odds

“The youth these days just aren’t willing to work like I had to in our day.” When mature adults get together and start talking about the younger generation, that’s a common saying overheard. That same thing was probably said about the youth of the 1970s, 1950s and 1930s, too. In fact, it’s probably fair to say that level of “they ...

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