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Daily Archives: June 17, 2011

SEC: Investors should be compensated from fund

HOUSTON — The U.S. Securities and Exchange Commission has said that many investors who lost money in the alleged Ponzi scheme run by jailed Texas financier R. Allen Stanford should be compensated by a special reserve fund mandated by Congress that protects customers of failed brokerage firms. Mississippians had a total of about $391 million invested with three Stanford offices ...

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Senate votes to kill ethanol subsidy

WASHINGTON — The Senate’s 73-to-27 vote to wipe out a $5 billion tax credit for U.S. ethanol producers may be largely symbolic. The Senate approved an amendment to end the 45-cent-a-gallon subsidy the government gives refiners and the 54-cent-per-gallon tariff on imported ethanol from Brazil and other countries. The amendment, sponsored by Sen. Dianne Feinstein, D-Calif., and Sen. Tom Coburn, ...

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Ball State University report: Mississippi is fat and stupid

Mississippians are fat, stupid and doomed to low-wage, menial careers, according to a Ball State University report. However, officials at the Mississippi Economic Council scoff at the findings, leading MEC president Blake Wilson to say, “I’m glad (they are) very safe behind (their) internet research perch.” >>> SEE REPORT<<< >>>SEE COMPLETE STORY<<<

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Repealing ethanol subsidies

How would an eventual tax credit repeal affect Mississippi ethanol producers, the ag industry and consumers? By Amy McCullough The U.S. Senate cast a symbolic vote yesterday to end the multi-billion dollar  subsidy to corn ethanol producers that has   been in effect for three decades. The repeal is an amendment that will be tacked onto a bill which won’t likely ...

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State first to sign multi-state insurance agreement

JACKSON — With the joint signing of the Nonadmitted Insurance Multistate Agreement (NIMA), Mississippi, Florida and Hawaii are the first states to establish such an agreement prior to a June 15 deadline established by Congress. “Had Mississippi not taken this action, we could have lost up to $16 million in premium tax revenue annually, which includes approximately $10 million dollars ...

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Universities to lobby lawmakers for funding increase

ACROSS MISSISSIPPI — Mississippi’s eight public universities will ask the Legislature for a 10 percent increase in funding next year at a time when the schools are relying more on tuition and less on state dollars than ever before. The Clarion-Ledger reports that more than 57 percent of the universities’ operating funds for the fiscal year that begins July 1 ...

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Toyota to resume North American production in September

BLUE SPRINGS — Toyota said yesterday it expects to return to full North American production in September, faster than it expected following parts shortages stemming from the March earthquake and tsunami in Japan. Toyota Motor Corp. said its North American production is currently at 80 percent on average. Eight of its 12 North American-built models returned to full production on ...

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Corps: Post-flood levee repairs could reach $1B

WEST MISSISSIPPI — The cost of repairing Mississippi River levees that were damaged by this year’s historic flooding could reach $1 billion, but it’s not clear how much funding will be available, a high ranking U.S. Army Corps of Engineers official said yesterday. Col. Thatch Shepard, deputy commander of the U.S. Army Corps of Engineers’ Mississippi River Division, told The ...

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