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

State study concludes minimum wage hike could clobber job market, slow economic growth

by Published: May 19,2014

Tags: Business, JACKSON, jobs, Mississippi, Washington

Putting significantly more money into the pockets of Mississippi’s lowest paid workers through a minimum  wage increase to $10.10 an hour could actually deal a hard blow to the state’s jobs picture, personnel income levels and a key indicator of economic health, Gross Domestic Product. So says a report by the University Research Center of […] [...]

Coast man gets prison time for counterfeiting

WAVELAND — A 39-year-old Waveland man has been sentenced to 33 months in prison on charges of making and passing counterfeit money. Federal prosecutors say in a news release that Alton Emerson Morgan was sentenced today in U.S. District Court in Gulfport. He also was sentenced to three years’ supervised probation and to pay $760 […] [...]

New restaurant set to start R’evolution in Ridgeland

By Sarah Dill Reily Gov. Phil Bryant admitted he doesn’t make it to many restaurant announcements to sample gumbo. “This one is very special,” he said. One day earlier the governor was photographed cutting the ribbon on the NASA SpaceX testing partnership in Hancock County. This day, Bryant welcomed iconic chefs John Folse and Rick […] [...]

Banking Department looking for new home in metro area

by Published: May 2,2014

Tags: banking, Business, Downtown Jackson, finance, Mississippi

Downtown Jackson could lose a state agency with the pending move of the Mississippi Department of Banking & Consumer Finance from the Woolfolk Building next store to the capital. Banking Commissioner Jerry Wilson said the agency is willing to remain downtown if a suitable space of around 12,000 square feet and 85 parking spaces is […] [...]

Fitch Ratings taking no action due to Kemper plant delay

KEMPER COUNTY — Fitch Ratings is not taking any rating actions following the latest cost revisions and schedule extension for the Kemper integrated gasification combined cycle (IGCC) project. On April 28, Mississippi Power announced another revision on the scheduled in-service date for Kemper IGCC and a further increase in the construction costs. Further cost increases […] [...]

Franchise Services sells assets of bankrupt Advantage Rent A Car

RIDGELAND — Franchise Services of North America Inc.’s wholly-owned subsidiary, Simply Wheelz LLC, which does business as Advantage Rent A Car, has completed the sale of 41 U.S. airport concession agreements used in the Advantage business to The Catalyst Capital Group Inc. (on behalf of one or more funds managed by it). Catalyst was selected […] [...]

The First sees earnings increase, declares dividend

HATTIESBURG — The First Bancshares Inc. (NASDAQ: FBMS), holding company for The First, A National Banking Association, has reported earnings for the first quarter ended March 31. Net income available to common stockholders for the three months ended March 31 amounted to $1,321,000, or $0.25 per diluted share, compared to $1,119,000, or $0.35 per diluted […] [...]

Franchise Services gives update on bankruptcy proceedings

RIDGELAND — Franchise Services of North America Inc. has issued an update on the previously announced proposed sale of certain assets used in connection with the business of the company’s wholly-owned subsidiary, Simply Wheelz, LLC, which does business as Advantage Rent A Car. The Catalyst Capital Group Inc., on behalf of one or more funds […] [...]

Judge rules — no ombudsman for bankrupt hospital

NATCHEZ — A federal bankruptcy judge has declined to appoint a patient care ombudsman for Natchez Regional Medical Center. The Natchez Democrat reports Bankruptcy Judge Neil P. Olack said he would look at the issue again if someone brings a patient care issue to him. The hospital’s bankruptcy attorney, Eileen Shaffer of Jackson, had argued […] [...]

Company aims for ‘net zero’ energy costs

by Published: April 25,2014

Tags: Business, energy, Mississippi

The owners of M2C Energy Solutions, a full-service energy saving products company, is getting ready for its national rollout at the end of the month. Based in Gulfport, the company researches, educates and recommends products, systems and services for residential and commercial customers who want to save money on energy. Terry Mobbs, who created the […] [...]

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