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MBJ FEATURE

Eastover project set to go

Jackson developer hopes that his District at Eastover is soon a reality Ted Duckworth has spent the better part of three years working on the District at Eastover in Jackson. And he is as close as he ever been to concrete results. After negotiations with Secretary of State Delbert Hosemann over lease terms for the Old Blind School property stalled, ...

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Trustmark reports strong 3Q earnings

Jackson-based regional bank says its capital strength gives it ‘offensive’ options Coming off the disappointment of losing the acquisition of Cadence Bank in early October, Trustmark Corp. got a lift last week with third quarter earnings that paid 40 cents per common share, two cents higher than the analysts’ consensus estimate. The quarter’s showing gives a green light to Jackson’s Trustmark ...

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Eminent domain appeal window unclear

On Oct. 22, Secretary of State Delbert Hosemann certified that Farm Bureau’s petition to eliminate the use of eminent domain for private development had enough signatures for the initiative to appear on the statewide ballot in 2011. Hosemann’s certification amounts to an administrative ruling, and if Mississippi’s rules for administrative appeals apply, any legal challenge to Farm Bureau’s initiative would ...

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St. Dominic partners with Wal-Mart to enter retail health market

The list of goods and services offered at the Walmart supercenter in Pearl is about to grow. On Nov. 8, Jackson-based St. Dominic Hospital will open The Clinic at Walmart, a primary care clinic that represents the hospital’s first foray into the retail health market. The clinic will provide a basic level of primary care and also help promote timely ...

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Trustmark CEO: Cadence deal lost luster after competitor upped ante

Trustmark ready to consider new acquisition opportunities if money potential is right. Trustmark executives backed away from the Cadence acquisition because a bid showdown with competing suitor Community Bancorp of Houston had too much short-term downside, said Trustmark chairman and CEO Richard Hickson in his first public remarks about his bank’s loss of the merger in early October. Trustmark had a ...

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Regions’ loan repair efforts contribute to losses for Q3

BIRMINGHAM, Ala. — Earnings blues continued for Regions Financial Corp. as the parent of Regions Bank reported another quarter of losses last week. The $133 billion regional banking company attributed the losses of 17 cents a diluted share largely to disposal of $1 billion in troubled assets and efforts to keep risks off the balance sheet. The bank had net ...

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BancorpSouth back in the black but trouble with bad loans persists

Bank handicapped by increasing loan loss reserves A $32.3-million allocation to cover a $107.1-million increase in non-performing loans took a bite of BancorpSouth Inc.’s third quarter earnings, but Mississippi’s largest headquartered bank returned to profitability in the quarter. The move into the black got an assist from a nearly $10-million income tax benefit and a big bump in mortgage earnings. ...

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Agri-tainment

It’s not new, but it’s saving the farm for owners after a disastrous 2009 There is a segment of the Mississippi farming community that is suffering from severe drought, and they couldn’t be happier. Last year, farms that offer “agri-entertainment” — off-season, non-farm revenue-generators such as hayrides, farm demonstrations and petting zoos — took a double hit from drought followed ...

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Hispanics and the law

Legal system challenged by growing Latino population Earlier this year, Madison County Sheriff Toby Trowbridge told a State Senate panel that his officers were picking up illegal immigrants nearly on the hour. Trowbridge told lawmakers these extra bookings were creating an extraordinary burden on his department. Now the question is can the legal system handle the new caseload? And will ...

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Cadence cites pressures in failed merger

Sept. 20 deadline apparently was dealbreaker As September moved past its mid-point, Cadence Bank executives saw their choices narrowed to this: Get a buyer deal done right away or feel the heat of federal sanctions for failing to meet a Sept. 19 deadline to significantly raise capital reserves. Cadence faced a two-minute drill with no timeouts left, according to a ...

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