Archive for the ‘BANKING & FINANCE – Market Sector’ Category

Spivey named Under 40 Business Person of the Year by the Mississippi Business Journal

Home Corporation Executive Director Scott Spivey was named the Under 40 Business Person of the Year Friday by during the Top 50 Under 40 luncheon in front of nearly 500 at the Hilton Hotel in Jackson. Previously named the Top 40 Under 40, the MBJ expanded the event this year and, for the first time, […] [...]

CFPB wants repay ability at center of new payday loan rules

By TED CARTER Drawing from a doctrine applied to new rules for residential mortgages, the U.S. Consumer Financial Protection Bureau is proposing that payday lenders verify a borrower’s ability to repay before making a short-term, low dollar loan. Payday lenders now require that borrowers have both a source of income and an active checking account. But […] [...]

Terminal upgrade on indefinite hold at Jackson International Airport

By TED CARTER Jackson Medgar Wiley Evers International Airport has shelved indefinitely a nearly $40 million renovation of its terminal and security check-in stations. Behind the project’s axing is management’s conclusion that the airport’s best fiscal strategy for the moment is to make money rather than spend it now and hope for a future payoff. […] [...]

Judge OKs Westin funding, cites ‘public purpose’ in tax money as debt collateral

by Published: April 21,2015

Tags: Business, Don Hewitt, Hinds County, JACKSON, Mississippi, NEWS, Westin

By TED CARTER Hinds Chancery Judge William Singletary on Tuesday approved allowing $10 million of Jackson tax money to help backstop the debt for a $60 million Westin hotel planned for downtown. In giving a nod to a contribution agreement that pledged the public money, Singletary rejected local developer Don Hewitt’s argument that Mississippi Constitution prohibits […] [...]

Planters Bank promotes at 3 locations

Planters Bank and Trust, based in Greenville, recently announced eight promotions: » Parker England has been promoted to first vice president for the Greenville branch. England joined Planters Bank in November 2007. He graduated from Mississippi State University in 2001 and received his MBA from Mississippi State in 2002. He is a graduate of the […] [...]

Source: McCullough a leading candidate for MDA job

        By JACK WEATHERLY Glenn L. McCullough Jr., former mayor of Tupelo and chairman of the Tennessee Valley Authority board, is a leading candidate to become executive director of the Mississippi Development Authority, according to a source familiar with the situation. McCullough said in a telephone interview with the Mississippi Business Journal  Thursday afternoon that […] [...]

COMMERCIAL FINANCE 701: Loans disguised as government bonds (BOANs)

EDITOR’S NOTE: Commercial Finance 701 is a continuing series on commercial loans written exclusively for the Mississippi Business Journal.  This series is geared to lenders, developers, investors and transactional attorneys. Sir Thomas More, the obstinate attorney who — literally — lost his head over religion, is often misquoted as suggesting the profession of lawyers is “to […] [...]

TRANSITION AT THE MDA — Is Mississippi better off than it was 3 years ago?

By JACK WEATHERLY  Is Mississippi better off than it was three years ago? That’s a fair enough question when it comes to measurable matters such as jobs created and money invested. The answer is: depends on whom you’re asking. And what you’re asking. When the Mississippi Development Authority announced April 8 that Brent Christensen  was […] [...]

Jackson issues RFP in 3rd try for convention center hotel developer

The Jackson Redevelopment Authority is taking a third swing at getting a convention center hotel built. With the backing of Jackson Mayor Tony Yarber, the JRA late last month issued a Request for Proposals for a hotel of at least 300 rooms on Pascagoula Street across from the Jackson Convention Complex, an approximately 300,000 square-foot conventions […] [...]

Ratings agency maintains Jackson airport credit rating

by Published: April 13,2015

Tags: Business, Fitch ratings, Jackson airport, Mississippi, NEWS

JACKSON — Despite the 2014 pullout of Southwest Airlines, a credit rating agency says the financial outlook at Jackson-Evers International Airport remains stable. Fitch Ratings Friday maintained the airport’s $38 million in debt at BBB+, at the low end of investment-grade ratings, with Fitch saying it expects the rating to remain stable. The rating agency […] [...]

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