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

KiOR retains investment bank to explore sale or restructuring

COLUMBUS — Struggling biofuel maker KiOR, deeply in debt to the state of Mississippi and others, says it has hired an investment bank to try to sell or restructure the company. KiOR, based in Pasadena, Texas, announced it had hired Guggenheim Partners in a yesterday stock filing. KiOR’s cash level is unclear, but the company […] [...]

‘Branch rationalization’ guiding Hancock, Regions branching strategies

Fresh off of closing more than two dozen branches and selling a handful of others in its five-state market, Hancock Bank is back in the branching business with the opening of  a full service location in West Hattiesburg. The 5,300-square-foot Oak Grove branch at 12 Newtowne Loop is among several branches and financial centers the […] [...]

HOPE Federal busy filling gaps left by bank branch closings

by Published: July 10,2014

Tags: banking, Business, finance, HOPE Federal, Mississippi, Regions Bank

Mississippi banks have left Bill Bynum and the HOPE Federal Credit Union he runs plenty of opportunity to grow Hope’s branching business. But he’d rather they wouldn’t. Bank branch closings at the start of the financial services sector collapse in 2008 through the past few years of recovery greatly increased the challenge of reversing the […] [...]

Jackson’s new mayor vows to make city better for business

by Published: July 10,2014

Tags: Business, city hall, climate, Duckworth Realty, JACKSON, Mississippi

Jackson Mayor Tony Yarber says he will soon launch a “technical assistance shop” to help the city become more of a partner rather than a hindrance to both new businesses and current ones. It’s part of a strategy, he said, to end Jackson’s tendency to be “its own problem.” Yarber said he has handed the […] [...]

Majestic Star mulling alternatives to current debt structures

TUNICA — The Majestic Star Casino, LLC intends to consider alternative debt structures to refinance its existing first lien senior secured credit facility due Dec. 1, 2014, and second lien secured notes due Dec. 1, 2016. Proceeds from the refinancing will refinance commitments under the credit facility and the current principal balance on the notes. […] [...]

MARK BLACKWELL: Managing debt in a low-rate environment

by Published: July 7,2014

Tags:

Investors understand the concept of “Tactical Asset Allocation” — the practice of shifting investments from asset classes or sectors that seem to be overpriced to those that are expected to provide greater returns in the upcoming weeks or months. When bonds have outpaced stocks, for example, the investor may sell some of the bonds at […] [...]

Fitch downgrades Baptist’s bond rating

JACKSON — Fitch Ratings has downgraded approximately $97.1 million Mississippi Hospital Equipment and Facilities Authority revenue bonds, series 2007A, issued on behalf of Mississippi Baptist Health System (MBHS) to from “BBB+” to “BBB”. The rating outlook is “stable”. Fitch wrote: The rating downgrade reflects MBHS’s profitability deterioration in fiscal year (FY) 2013 and through the […] [...]

It’s showtime for MAGIC as state launches single accounting system

by Published: July 7,2014

Tags: accounting, Business, government, JACKSON, Mississippi, Politics

Mississippi state government is counting on big returns from a $100-million accounting system that integrates what previously were a handful of different systems used by state agencies, commissions and boards. Launched Tuesday, the system known as MAGIC, short for Mississippi’s Accountability System for Government Information and Collaboration, required a dozen years of work, including around-the-clock […] [...]

Cherokee Brick & Tile to restart Tri-State plant in Jackson

by Published: July 7,2014

Tags: bricks, Business, construction, JACKSON, Mississippi, NEWS

Brick and tile manufacturing is set to resume by the end of the year at the dormant Tri-State Brick and Tile plant under new owners who see Jackson as a gateway to reaching an additional 30 percent of  the U.S. market. Cherokee Brick & Tile, a Macon, Ga., family-owned maker of brick and tile and […] [...]

Mississippi ranks sixth in growth of women-owned businesses

Mississippi is ranked sixth in the nation in the growth of women-owned firms between 1997 and 2013, according to American Express OPEN’s 2013 State of Women-Owned Businesses Report: A Summary of Important Trends, 1997-2013. The report showed that Mississippi had a 77.4 percent growth in the number of women-owned firms between 1997 and 2013. The […] [...]

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