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Author Archives: Ross Reily

Another luxury hotel to open in Cleveland

By JACK WEATHERLY The Cotton House. Is there better name for a luxury hotel in the Delta? Tradition with a wink. The $17.6 million, 95-room hotel will open early next year in downtown Cleveland, dead center in the region known for the richest soil and earthiest music in the world. “It’ll be a very high-end product,” said Luke Chamblee, president ...

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C Spire buying Birmingham-based provider

MBJ staff C Spire announced on Tuesday the acquisition of Birmingham-based based Links, a highly regarded and rapidly growing resell, cloud, managed and professional services provider. Terms of the transaction between the two private companies were not disclosed, but Ridgeland-based C Spire said it expects to complete the acquisition and merger within 60 to 90 days. Founded in 2001, TekLinks’ primary operations ...

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National forests brace for next pine beetle onslaught

By JACK WEATHERLY Early signs are that national forests in Mississippi will face a second consecutive year of a severe Southern pine beetle outbreak, threatening to damage tens of thousands of acres, according to the National Forest Service. The national forests were hit harder last year than private stands. Approximately 23,000 acres were affected in the national forests, according to ...

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COMMERCIAL FINANCE 701 — A LIBOR Update: Here comes SOFR!

  Following the sounding of LIBOR’s death knell last summer, a flurry of governmental and industry activity culminated in the selection of SOFR as a replacement index rate for commercial loans.  Accordingly, a sequel of our August 2017 column “The Passing of LIBOR” is in order. London Interbank Offered Rate (LIBOR) Recall on July 27, 2017, the Brits prospectively announced ...

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Visitor spending in Mississippi reaches $6.3 billion

MBJ staff Visitors spent $6.343 billion in Mississippi in fiscal 2017, which ended June 30, the second-highest amount on record, according to the new Visit Mississippi Tourism Economic Impact Report. Out-of-state-visitors spent an estimated $4.9 billion in the state in fiscal 2017, making up more than three-quarters of total visitor spending. The number of international visitors grew by 1.6 percent ...

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Paper plant to upgrade, add 25 jobs

Associated Press SALTILLO — A paper company is expanding its cardboard box plant in northeast Mississippi, with plans to add 25 jobs over three years.Atlanta-based WestRock announced Wednesday that it will replace the corrugating machine at its Saltillo plant with a new, larger machine to make cardboard. WestRock says the new machine will make better cardboard. The company didn’t say ...

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General Atomics plans $20 million expansion in Lee County

MBJ staff General Atomics Electromagnetic Systems is expanding for the 10th time in 13 years in Shannon. The project is a $20 million private capital investment and is expected to create 48 jobs over the next three years. It currently employs 256. The Mississippi Development Authority is providing a $510,000 grant to help with equipment costs. Lee County will provide ...

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