Posts Tagged ‘investment’

Stanford faces sentencing for $7B-plus ponzi scheme

HOUSTON, Texas — If federal prosecutors have their way, former jet-setting Texas tycoon R. Allen Stanford could receive a prison sentence that spans two centuries for bilking investors out of more than $7 billion over two decades in one of the largest ponzi schemes in U.S. history. Calling Stanford a “ruthless predator” who stole from […] [...]

Hosemann urging investors to file claim for Morgan Keegan settlement

ACROSS MISSISSIPPI — Eligible investors face a June 16, 2012 deadline to file a claim for a portion of a multi-million dollar settlement with Morgan Keegan. Last June, Secretary of State Delbert Hosemann negotiated a settlement on behalf of investors who invested in certain Morgan Keegan bond funds. “These settlement funds will bring some relief […] [...]

General Atomics breaks ground for plant expansion

SHANNON — General Atomics’ Electromagnetic Systems Group (GA EMS) broke ground today on an expansion to its existing 127,000-square-foot facility in Shannon. The expansion project represents a $12 million corporate investment and will create 25 additional direct jobs over the next three years, according to the Mississippi Development Authority (MDA). From its Shannon location in […] [...]

Barbour: U.S. ports need investment, strategy policy

BILOXI — Former Gov. Haley Barbour, speaking to a regional gathering of Gulf states harbor pilots, called for a “bias for action and a sense of urgency…for increased U.S. investment in waterways infrastructure and a national strategic policy to prepare and equip U.S. ports in the Gulf of Mexico and the Atlantic Seaboard for increased […] [...]

New Jersey investment firm buys industrial building for $16.2M

OLIVE BRANCH — Monmouth Real Estate Investment Corporation of Freehold, N.J., has acquired a 234,660-square-foot industrial building located at 8644 Polk Lane, Olive Branch, at a purchase price of $16.2 million. The property is net-leased for 10 years to Anda Pharmaceuticals Inc., a distribution division of Watson Pharmaceuticals Inc. The building is situated on approximately […] [...]

Prospect Capital buying First Tower for $266M

FLOWOOD — Investment firm Prospect Capital Corp. said Tuesday it will pay about $266 million to acquire an 80.1 percent stake in First Tower, a specialty finance company. Prospect Capital said it will pay $110.2 million in cash for the Flowood-based company, and said First Tower shareholders will get 14.5 million shares of Prospect as […] [...]

FCC reforms prompt $53M investment in state by AT&T

ACROSS MISSISSIPPI — AT&T is making a $53 million investment throughout Mississippi as a result of reforms made to the Federal Communications Commission’s (FCC) Universal Service Fund, a vast majority of which will be used to enable broadband expansion. This investment in Mississippi will mean more than 170 new sites in more than 60 wire […] [...]

SemiSouth making $18M investment in new equipment; could double employment

STARKVILLE — SemiSouth Laboratories plans to spend $18 million to buy new equipment for its Starkville facility, a move that could double employment there over the next 18 months. Privately-held SemiSouth makes silicon carbide semiconductors for solar panels, wind turbines, electric cars and other devices that need to transmit power without leaking any electricity along […] [...]

Sanderson sees better quarter, but still loses $8M

LAUREL — Sanderson Farms Inc., for the first fiscal quarter ended Jan. 31, saw net sales of $517.8 million compared with $427.7 million for the same period a year ago. For the quarter, the poultry company had a net loss of $8.0 million, or $0.36 per share, compared with a net loss of $33.6 million, or […] [...]

Board approves MSU to enter commercial paper market

STARKVILLE — Higher education officials will allow Mississippi State University to enter the “commercial paper” market to obtain $50 million for future construction projects. The state College Board approved Mississippi State’s request yesterday. The commercial paper market is short-term IOUs that companies sell to meet cash-flow needs. Issuing commercial paper is a way for companies […] [...]

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