Author Archive

Pearl ordering rental properties to retrofit with sprinklers, build storm shelters

by Published: September 30,2014

Tags: Business, economics, Mississippi, NEWS, Politics

Owners of Pearl’s multi-family rental complexes and mobile home parks have joined to fight a city mandate requiring rental property owners to install interior sprinklers in each rental unit and build storm shelters to accommodate each resident. Representatives of the owners say they face millions of dollars in retrofitting costs and displacement of tenants to […] [...]

GETTING IT’S MONEY BACK: Jackson’s $1.5 million HUD repayment will come back to City

Here’s some good news for Jackson city government: The City won’t actually lose the $1.5 million it must repay the U.S. Department of Housing and Urban Development for not meeting HUD rules in the so-far unsuccessful attempts to redevelop Farish Street. In a clarification, HUD said Thursday the repayment will go into a line of […] [...]

MBJ Marketplace the venue for state’s businesses

by Published: September 24,2014

Tags: Business, MBJ Marketplace, Mississippi, NEWS, Trade Mart

Dozens of Mississippi businesses showcased their goods and services last Friday as the Mississippi Business Journal held its inaugural Business Marketplace at the Trademart in Jackson. Formerly the Business Expo, the Marketplace featured some vendors selling products on the showroom floor — a move the MBJ made to accommodate visitors who wanted to shop as […] [...]

WHAT’S THE PLAN? Map to market for GreenTech’s MyCar not yet clear

by Published: September 24,2014

Tags: Automotive, Business, Mississippi, NEWS

Automotive startup GreenTech will soon be sending its MyCar to a “Neighborhood Electric Vehicle” market experts say is still in its infancy, at least outside of California. The two-seater MyCar is limited to speeds of 35 mph and prohibited on major highways. The car is expected to begin coming off the assembly line at GreenTech’s […] [...]

JRA will cover $1.5 million HUD repayment for Farish St. blunders

by Published: September 24,2014

Tags: Business, economic development, Mississippi, NEWS

The Jackson Redevelopment Authority agreed Wednesday to cover a demand from the U.S. Department of Housing and Urban Development for repayment of $1.5 million HUD invested in downtown’s dead Farish Street project. The City of Jackson had agreed to repay the money over three years starting in December 2016. But that could have left in […] [...]

UPDATE — David Watkins says JRA left him in dark about HUD’s Farish St. involvement

By Ted Carter Farish Street Group principal David Watkins says he feels blindsided by the U.S. Department of Housing and Urban Development’s suspension of Farish Group from further involvement with HUD-funded projects. Watkins’ Farish Street Group until last October had a lease deal to transform downtown Jackson’s Farish Street into an entertainment district. He said […] [...]

Payday lender expects clean bill from regulators

All American Check Cashing owner Michael Gray expects the Mississippi Department of Banking to renew his check cashing store license at the end of this month and close its investigation into illegal payday loan rollovers with no finding of wrongdoing. Gray, in his first public comments since state regulators raided more than a dozen of […] [...]

Payday lender, fired executive exchanging blame for lender’s regulatory woes

Lawyers for payday lender All American Check Cashing and a fired executive of the Madison company are trading accusations of criminal activity. All-American blames the former executive for the hot water it is in with state regulators; the out-of-work executive alleges the company fired him for not participating in illegal activities that included under-the-table payments […] [...]

Grain buyer’s bankruptcy could take steep toll on Delta farmers

» Defaults on contracts and non-payment on grain already delivered are main worries The chapter 12 bankruptcy of a principal of Arkansas’ Turner Grain Co. and accompanying grain contract defaults could cost farmers in the Mississippi Delta “paper” losses of up to $70 million, according to a Greenville lawyer for several grain producers. Separate from […] [...]

Multi-family, health care construction are backbone of mid-range lending

Ben Williams, real estate law specialist and Watkins & Eager managing member, has been hopping the past year helping Mississippi developers put together projects requiring mid-range loans of $5 million to $50 million. But next month? “I’m not prepared to tell you I’ll be busy,” said Williams, who is in his 28th year practicing real […] [...]

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