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Tag Archives: Business

On Mississippi’s shore, what Katrina erased not yet replaced

In this July 23, 2015 photo, Efrem Garza stands before his new home built on the lot of his previous house that was destroyed by Hurricane Katrina and holds a photograph taken by a friend of the remains of that house on South Seashore Avenue in Long Beach, Miss. Before the storm Garza was surrounded by houses and trees, now 10 years later, there are only two houses on that land, as few of the residents returned and rebuilt. (AP Photo/Rogelio V. Solis)

LONG BEACH — Between Mississippi’s seashore and the railroad tracks a little ways inland, where Hurricane Katrina all but erased a neighborhood 10 years ago, Efrem Garza and a handful of other homeowners are still resettling a frontier. Once lined with houses and a small condominium complex, South Seashore Avenue in Long Beach was ravaged by wind and waves in ...

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Timber prices hover around 2014 levels

Housing starts across the country climbed in July to their highest rates in almost eight years, but current overall average stumpage prices in Mississippi are hovering near where they were at this time in 2014 because of a timber surplus. (File photo by MSU Ag Communications/Kevin Hudson)

STARKVILLE — Mississippi’s timber industry is holding steady this year from 2014 as both the U.S. housing market and the demand for lumber continue to improve gradually. State average stumpage prices for hardwood sawtimber declined sharply in the second fiscal quarter of 2015 from the first quarter, while pine sawtimber prices increased. Hardwood sawtimber is down compared to a year ago, while ...

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US stocks surge after China cuts rates to help economy

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U.S. stocks surged in early trading Tuesday after China’s central bank cut its key interest rate in a bid to boost growth in the world’s second-largest economy. The move erased some of the stock market’s heavy losses from a day earlier when concerns over a slowdown in China’s economy rattled global markets and knocked down the Dow Jones industrial average ...

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Revenues rise in July at Mississippi casinos

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JACKSON — Strong July results from Gulf Coast casinos continue to buoy overall results at Mississippi’s gambling halls. Meanwhile, an improving trend since April among casinos along the Mississippi River hints revenue may finally stop shrinking there. State Revenue Department figures show casinos statewide won $189.6 million from gamblers in July, up 5 percent from $180.3 million in July 2014. ...

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SeaPort agrees to remove Tupelo service

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TUPELO — SeaPort Airlines has agreed to end its passenger service in Tupelo. Tupelo Regional Airport officials tell the Northeast Mississippi Daily Journal the airport board cited poor performance problems since service began last October as the reason for asking the airline to drop local service within 90 days. Withdrawing from Tupelo means service would end sometime in November. The ...

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Analysis: Katrina insecurity over being forgotten returns

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On Hurricane Katrina’s 10th anniversary, is it time to take off the chip? By now, everyone knows about Mississippi’s post-storm insecurity, its angst about being overshadowed by all the media attention on New Orleans after the storm, when hundreds of Mississippians had also died, and tens of thousands were homeless. And the chip is still there. Some residents of the ...

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BILL CRAWFORD — Initiative 42 may be a wolf in sheep’s clothing

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At forums across the state held by Secretary of State Delbert Hosemann, proponents stubbornly argue that Initiative 42 is simply about getting the Mississippi Adequate Education Program (MAEP) fully funded. That’s what their petition said. That’s what their upcoming, expensive advertising campaign is likely to say.   But that’s not what their proposed constitutional amendment says:    “To protect each ...

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Costco: plan ‘not a done deal’ but site is prime

Lawson Hester addresses questions to developer Andrew Mattiace as a 
crowd of several hundred listens. Photo by Jack Weatherly

Ridgeland crowd takes wholesaler and developer to task By JACK WEATHERLY Under intense questioning for two hours Thursday night from a skeptical crowd of several hundred at the Ridgeland High School auditorium, a Costco representative conceded that it was not committed to a site on Highland Colony Parkway. “This is not a done deal,” said Dan Venable. The audience of ...

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Mississippi payrolls grow strongly as jobless rate dips

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JACKSON — Mississippi’s employers flexed a little muscle in July, posting the state’s biggest payroll gain since before the recession. Combined with a slowly improving unemployment rate, the results suggest the Magnolia State could lose the labor market laggard status it’s struggled with even as the nation rebounded from the economic downturn. Payrolls rose by 5,800 last month, pushing year-over-year gains ...

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Group plans new city in Lamar County

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PURVIS — Residents of the Bellevue community of Lamar County are launching a petition drive to become a city. The Hattiesburg American reports a group called Citizens of Bellevue has been studying incorporation for the past 13 months. Organizers outlined their plans Thursday to the Lamar County Board of Supervisors. The city would span about 15 square miles with an ...

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