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Author Archives: Ted Carter

As 2017 winds down, Mississippi economic growth looks to be less than 1 percent

By TED CARTER The indicators state economists use to assess the health of Mississippi’s economy showed the same lethargy in August as they did at the start of the year. “August represented another example of the relative sluggishness that has characterized the Mississippi economy in 2017,” said the October edition of Mississippi’s Business prepared by the University Research Center of ...

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Lumumba undaunted on Jackson convention hotel after latest deal unravels

JRA dropped developer EDT after it insisted on $60 million public contribution By TED CARTER New Mayor Chokwe Antar Lumumba is not ready to call it quits on a convention center hotel after the demise of the Jackson Redevelopment Authority’s two-year effort to complete a deal for one. A Sept. 27 Redevelopment Authority decision to drop Washington, D.C.-based Engineering Design Technologies ...

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Settlement shuts down payday lender, cuts fine nearly in half

By TED CARTER All American Check Cashing owner Michael Gray has settled with state banking regulators after years of failed legal appeals over charges his dozens of payday lending stores used illegal loan rollovers to trap borrowers in a cycle of debt. In exchange for Gray dropping further appeals of a license revocation order and civil penalties from the Mississippi ...

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Farmers Alliance takes to road in battle against food deserts

By TED CARTER Sometimes two problems can come together to create a solution. In Mississippi, small farmers struggle to keep their land and make enough money to get by. And across the state, many rural communities and even some urban neighborhoods lack a means of buying fresh food. The farmers have the food and the people who live in the ...

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Cash & Carry opening ends South Jackson ‘food desert’

By TED CARTER Erasing even a single Mississippi food desert is a cause for celebration, say supporters of a multi-year effort to turn back the spread of communities lacking any fresh-food options. So, no surprise lots of smiles and applause accompanied the grand opening earlier this month of Cash & Carry Fresh Food Market at 3520 Terry Road in an ...

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Payday lender pins hopes on Chancery Court to avoid store closings, $1.58 million fine

Banking commissioner rules All American Check Cashing did thousands of illegal loan rollovers By TED CARTER A Hinds County chancery judge on May 12 gave Mississippi payday lender All American Check Cashing a brief reprieve from a state Department of Banking and Consumer Finance shutdown order for its 75 stores, a $1.58 million fine and a demand to pay refunds ...

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Hinds Chancery judge blocks order closing payday lender All American

UPDATED WEDNESDAY: Payday lender pins hopes on Chancery Court to avoid store closings, $1.58 million fine   A judge on Friday blocked an order by state regulators shutting down one of Mississippi’s largest payday lenders and fining the company more than $1.5 million. The Thursday order by state Banking Commissioner Charlotte Corley followed a monthslong proceeding examining whether All American Check ...

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Lengthy probe, legal tussles end with All American Check Cashing shutdown, $1.5 million penalty

UPDATED WEDNESDAY: Payday lender pins hopes on Chancery Court to avoid store closings, $1.58 million fine By TED CARTER Mississippi officials are forcing Madison-based payday lender All American Check Cashing to close its 70 Mississippi locations and pay a more than $1.5 million fine. The action ordered Thursday followed a multi-year investigation by the Mississippi Department of Banking and Consumer Finance, federal ...

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UPDATE: S&P latest to hit Mississippi with negative credit outlook

  By TED CARTER It could have been worse. That’s the assessment Mississippi State Treasurer Lynn Fitch made after a Standard & Poor’s credit outlook downgrade to negative for Mississippi’s general obligation bond debt. Mississippi’s gets to keep its AA rating from S&P Global Ratings, but the ratings agency doesn’t see a fiscal turnaround ahead for the state any time soon. ...

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Power co-op gets bond rating upgrade after exiting Kemper deal

Cooperative Energy and its 11 co-op members will see lower debt costs on $35.4 million bond   By TED CARTER / Hattiesburg Business Today Bailing out of its 15 percent ownership stake in Mississippi Power’s Kemper gasification plant has helped Hattiesburg-based Cooperative Energy gain a ratings upgrade on a $35.4 million bond issue. The electric power co-op, which changed its name ...

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