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Daily Archives: March 13, 2012

Regions selling $900 million in stock to help repay TARP

Regions Financial Corp. is setting the stage for repaying $3.5 billion in Troubled Asset Relief Program, or TARP, money it owes the U.S. Treasury. The Birmingham-based bank, which holds the leading market share for banks in Mississippi, Tuesday announced a $900 million common stock offering to raise money to buy back the $3.5 million Series A Preferred Stock issued to ...

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Abandoned sites in Gulfport, Canton added to Superfund list

Two closed manufacturing sites in Mississippi have been added to the Environmental Protection Agency’s Superfund list. Chemfax Inc. was a manufacturer of synthetic resins and waxes in Gulfport. Southeastern Wood Preserving was a wood treating operation in Canton. They are among four new Superfund sites the EPA announced Tuesday. The others are in Florida and North Carolina. The EPA’s Superfund ...

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Foreclosures, late mortgages declined across state in December

Foreclosure rates in Jackson and Mississippi as a whole have decreased for the month of December over the same period last year, new data from CoreLogic shows. California real estate research firm CoreLogic data reveals that the rate of Jackson area foreclosures among outstanding mortgage loans was 2.41 percent for December 2011, a decrease of 0.22 percentage points compared to ...

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FCC reforms prompt $53M investment in state by AT&T

ACROSS MISSISSIPPI — AT&T is making a $53 million investment throughout Mississippi as a result of reforms made to the Federal Communications Commission’s (FCC) Universal Service Fund, a vast majority of which will be used to enable broadband expansion. This investment in Mississippi will mean more than 170 new sites in more than 60 wire centers, which will increase access ...

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Lawmakers approve measure aimed at reducing state's debt

JACKSON — The Mississippi Senate today passed legislation that would direct additional funds to pay off state debt and move toward reducing the state’s total debt, Lt. Gov. Tate Reeves announced. “We need to get control of the state’s debt, and this bill is one way we can do that and be responsible stewards of taxpayers’ money,” Reeves said. “Getting ...

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SBA disaster loan deadline approaching

ACROSS MISSISSIPPI — The U.S. Small Business Administration is reminding small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of all sizes that April 9 is the filing deadline for federal economic injury disaster loans. These working capital loans are available in the counties of Adams, Amite, Attala, Claiborne, Coahoma, Copiah, DeSoto, Franklin, Hinds, ...

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Government, nonprofit helping landowners restore trees ravaged by Katrina

SOUTH MISSISSIPPI — The federal government and a nonprofit organization are working to help private landowners restore stands of oaks, cypress and other hardwoods ravaged by Hurricane Katrina. Hurricane Katrina killed or severely damaged about 320 million trees in less than 24 hours when it swept through Mississippi, Louisiana and Alabama in August 2005, according to The United States Department ...

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Jackson Convention Complex, Trustmark extend marketing partnership

JACKSON — SMG, managers of the Jackson Convention Complex, reports the Jackson Convention Complex and Trustmark National Bank have renewed their commercial rights marketing partnership, extending Trustmark’s designation as the exclusive bank of the Jackson Convention Complex for an additional three years. SMG general manager Kelvin Moore said, “Trustmark was one of the original marketing partners for the Complex. Their ...

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City, county earn better fire insurance rating

MONTICELLO and LAWRENCE COUNTY — Monticello and Lawrence County have achieved new fire insurance ratings. Officials tell the Daily Leader the city has new rating of six and the county had an eight. The ratings came from the state. Monticello Fire Department Capt. Jared Evans says a class six rating will lower insurance costs to businesses and homes. Previously, the ...

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County looking to have FEMA disaster loan forgiven

JACKSON COUNTY — Jackson County supervisors are hoping that by changing the way the county assessed its Hurricane Katrina financial damage, it will succeed in having its FEMA loan forgiven. FEMA offered the county up to $14 million after the storm as part of a special Community Disaster Loan. The county borrowed closer to $10 million. Board president John McKay ...

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