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Daily Archives: February 13, 2012

ABA: Obama bank tax will sacrifice $600 billion in loans

The American Bankers Association reacted harshly Monday to President Obama’s proposal to levy a 10-year tax on the banking industry that would raise $61 billion to help U.S. homeowners refinance. Obama had previously proposed a “financial crisis responsibility fee” on financial firms with assets exceeding $50 billion. That idea has been changed into a proposal to tax banks to help ...

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GE to open plants, hire 5,000 veterans

ELLISVILLE — General Electric Co. plans to hire 5,000 veterans over the next five years and invest $580 million to expand its aviation business. The announcements today were part of a four-day event that the global conglomerate is hosting with partners in Washington, D.C., that focuses on issues such as manufacturing and job creation in America. GE CEO Jeffrey Immelt ...

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Ex-nursing home worker arrested; accused of bilking patients

REDWOOD — A 37-year-old former nursing home worker has been arrested on multiple counts of exploiting vulnerable persons. Attorney General Jim Hood said Lee Ray Martin, of Redwood, is alleged to have obtained more than $101,000 from 83 residents of Shady Lawn Nursing Home and Vicksburg Convalescent Center. Hood, in a news release, says at the time the crimes are ...

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City answers Justice Department questions about mental health clinic

OCEAN SPRINGS — The city of Ocean Springs has answered questions from the Department of Justice on its denial of a permit for a mental health clinic. The Mississippi Press reports the city claims it did not violate the Americans with Disabilities Act when the Board of Aldermen denied permits to allow the Psycamore mental health clinic to open. The ...

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Lawyers appeal fraud verdict in asbestos lawsuit

HOUSTON, Texas — Two Mississippi plaintiffs lawyers, including a former state lawmaker, have appealed a verdict that they committed fraud during an asbestos lawsuit they filed in 2001. A federal jury in Mississippi decided in 2010 that the lawyers should pay Illinois Central Railroad Company $420,000 in damages. The 5th U.S. Circuit Court of Appeals has scheduled oral arguments in ...

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After more than three years, connector road reopens

VICKSBURG — After more than three years and $8.6 million, a main corridor between downtown Vicksburg and Interstate 20 is about to reopen. The 82-year-old bridge that ran along the Mississippi River was closed in early 2009 because of river bank erosion. Now it’s a road on top of a tunnel over railroad tracks, and the reopening ceremony is scheduled ...

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Aldermen want internal audit as investigation of Davis continues

SOUTHAVEN — Southaven aldermen say they want an internal audit of city finances to get a more in-depth look than the one provided by the routine annual audit. The Commercial Appeal reports a newly formed committee plans to initiate the review in the wake of ongoing questions over Mayor Greg Davis’ spending. Davis, who presided over last Tuesday’s Board of ...

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Democrats worried about proposed change to Legislature rules

JACKSON — Some Democrats are warning that a proposal to change the Mississippi Legislature’s rules could handcuff their ability to seek more money for education. The proposal, written by House Rules Chairman Mark Formby, R-Picayune, would require that any time lawmakers want to increase spending on an item, they would have to cut spending elsewhere by an equal amount. The ...

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State to get more fees in lieu of taxes from TVA

NORTH MISSISSIPPI — The Tennessee Valley Authority expects to pay about $7 million more in fees in lieu of taxes to the state of Mississippi in fiscal year 2012 versus the past fiscal year. Federal government-owned corporations like TVA pay fees to states where they operate in lieu of state property taxes. TVA spokesman Mike Bradley tells the Starkville Daily ...

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Capital City sees tax collections rise during fourth quarter

JACKSON — An encouraging sign for the city of Jackson’s economy is the $256,000 rise in sales taxes in the last quarter over the same period in 2010. The numbers primarily reflect a strong holiday season for retailers, but business leaders said they’re cautiously optimistic that gains could continue into this year. “Across the retail group as a whole, we ...

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