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Daily Archives: May 25, 2012

Nation’s banks gain on income in 1Q but loan levels drop

  Commercial banks and savings institutions in the United States are on track to complete three years consecutive quarterly earnings increases, but their lending has dipped for the time in nearly a year. The financial institutions made a total profit of $35.3 billion in the first quarter, a $6.6 billion improvement from the $28.8 billion in net income the industry ...

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Court: Fees paid to private lawyers to represent state are public funds

JACKSON — The Mississippi Supreme Court ruled yesterday in two cases that legal fees paid to private lawyers to represent the state are public funds. Justices said because the money belongs to the public, it should’ve been paid out to the lawyers from the attorney general’s contingent fund or from other money appropriated to the attorney general. A Hinds County ...

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Senate approves 60-day extension of federal flood insurance program

WASHINGTON — Sen. Thad Cochran (R-Miss.) issued the following statement following Senate approval of a 60-day extension of the National Flood Insurance Program (NFIP) in conjunction with an agreement to begin debate on a long-term reauthorization measure in June: “I am pleased an agreement has been reached that will allow a short extension of the National Flood Insurance Program, as ...

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Coast casinos up, riverboats down in April

ACROSS MISSISSIPPI — Revenue for Mississippi Coast casinos was up in April, but the take at river casinos dropped, depressing the overall revenue at the state’s gambling halls. The state’s casinos won 1.2 percent less money, with revenues falling to $187 million last month from $189.3 million in April 2011. Casinos in the Gulf Coast market’s revenue rose 6.8 percent, ...

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Topazi retiring as COO of Southern Company

ATLANTA — Southern Company chairman, president and CEO Thomas A. Fanning has made public a number of changes within the company’s management team, effective July 1, including the replacement for Anthony Topazi. According to Fanning, Mark A. Crosswhite will become executive vice president and COO for Southern Company. Crosswhite will assume the role vacated by Topazi, who has announced plans ...

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ROSS REILY: A new day may be dawning for Mississippi cotton

When construction began a couple of weeks ago on a $6.5 million cotton gin in Noxubee County, it may have signaled a change in Mississippi agriculture that experts have been pointing to nationally for more than a year. Bogue Chitto Gin Inc. was created by a group of 25 cotton farmers from Aliceville, Ala., and from Lowndes, Clay and Noxubee ...

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Report: U.S. economy will depend on trillion-dollar Hispanic ‘niche’

The explosive growth of the U.S. Hispanic population should be making consumer-products companies rich, but instead, it is leaving them confused. The U.S. Latino community, already a $1 trillion annual consumer market comprising 52 million people (out of a total U.S. population of 311 million), is on course to grow by another 50 percent in buying power by 2015. While ...

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MBJ EDITORIAL: Questions we should ask the new chief of the MDA

Last time the State of Mississippi went to Gainesville, Fla., to fill a job, it scored a winner in Dan Mullen, whom Mississippi State University lured away from the University of Florida football coaching staff to be head Bulldog in Starkville. Consecutive wins over Ole Miss and a pair of bowl victories have the folks behind the cowbells smiling again. ...

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