Author Archive

(UPDATE) Prison won’t interrupt ex-prison chief’s retirement cash flow

By TED CARTER As part of his guilty pleas, former Mississippi prisons boss Chris Epps must pay a $750,000 fine and could be forced to pay a hefty restitution. But he has an income source to help with the costs: the Public Employees’ Retirement System of Mississippi. Epps, a Delta native and former school teacher […] [...]

Meet the MBJ’s Businesswoman of the Year — Rosemary Smith, a business hotshot

by Published: February 26,2015

Tags: Becky Smith, Business, Mississippi, NEWS, Pat Thomasson

By TED CARTER The oil field is a rugged proving ground for any individual. But a young Rosemary Smith just out of the Army found it a high-stakes terrain she relished traveling. And, boy, did she travel it. Night, day, dusk, dawn – the Raleigh, native pushed her start-up company’s lone three-quarter-ton pickup truck from Alabama […] [...]

AG Jim Hood wants portion of $46M litigation bounty to go for mental health efforts

By TED CARTER Call it a sharing of the spoils of war at an opportune time. Just as he qualifies for a reelection bid, Mississippi Attorney General Jim Hood is handing over around $46 million to Gov. Phil Bryant and the Legislature from legal settlements obtained from the likes of Standard & Poor’s, Merck & […] [...]

State’s Consumer Protection Act key to forcing S&P settlement on bogus bond ratings

by Published: February 25,2015

Tags: Business, Connecticut, Jim Hood, Los Angeles Times, Mississippi, NEWS, S&P

By TED CARTER Mississippi’s Consumer Protection Act’s provision against making deceptive claims is credited as a key tool in extracting a $33 million settlement from Standard & Poor’s Ratings Service and parent McGraw-Hill Companies. The settlement announced Feb. 3 is part of agreement by which S&P’s Rating Services turns over $1.375 billion to put the litigation […] [...]

Hood wants some of $46 million of suit settlements earmarked for mentally ill

by Published: February 21,2015

Tags: Business, Jim Hood, Legal Affairs, Mississippi, NEWS, Politics

Call it a sharing of the spoils of war at an opportune time.. Just as he qualifies for a reelection bid, Mississippi Attorney General Jim Hood is handing over around $46 million to Gov. Phil Bryant and the Legislature from legal settlements obtained from the likes of Standard & Poor’s, Merck & Co., HSBC Bank […] [...]

Peters: There’s more room for everyone in Fondren

By TED CARTER New construction, fixups, conversions, big plans for the future — all are part of daily life in Fondren, Jackson’s midtown pedestrian-style community known for its Art Deco buildings, art galleries, photography studios, salons, restaurants, pubs and entertainment venues. Real estate developer Mike Peters has had a hand in a lot of the change […] [...]

The Meridian envisioned as catalyst for Jackson’s medical corridor development

by Published: February 12,2015

Tags: Business, Fondren, John Ditto, Mississippi, NEWS, real estate, Stewart Speed

By TED CARTER A nearly five-acre patch of land across Lakeland Drive from University of Mississippi Medical Center is about as close as a Jackson developer can get to a sure thing. At least that’s the way development partners Stewart Speed and John Ditto see the property and its potential for success as home to […] [...]

Bryant to tap unemployment fund for worker-training advances

Call it the “Two-Cars-And-A-Boat” initiative. Gov. Phil Bryant last  Friday morning briefed business leaders on a workforce development proposal that calls for pulling $25 million each of the next two years from the state’s unemployment compensation reserve fund. The money would be used to step-up the state’s efforts to train workers for advanced manufacturing jobs […] [...]

Consumer Financial Protection Bureau seeks loosening of nonstandard mortgage lending rules

The U.S. Consumer Financial Protection Bureau has moved to ease fears among community bankers that new mortgage rules make nonstandard home loans, including balloons, too legally risky. Already, worries about such risks have led executives in Mississippi’s smaller banks to cut back on mortgage lending. However, with proposed rules issued last week, the 3-year-old CFPB […] [...]

Lawmakers once again reject bill to repair payday lending glitch

Rep. Adrienne Wooten, a Hinds County Democrat, tried unsuccessfully again this year to fix a glitch in Mississippi’s payday lending law that was suppose to give borrowers 30 days to repay loans of more than $250. Instead of the 30 days, borrowers have been getting only two weeks to repay the loans before new fees […] [...]

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