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Author Archives: Ted Carter

Gunn wants another evaluation of MDOT spending

  By TED CARTER Lawmakers are set to take yet another look at the effectiveness of Mississippi Department of Transportation’s spending, House Transportation Chairman Charles Busby says. Busby does not think another evaluation is needed just two years after a report from the Joint Legislative Committee on Performance Evaluation and Expenditure Review, or PEER, gave MDOT passing grades on its spending ...

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State short more than $30M in debt payment money, Fitch warns

By TED CARTER Gov. Phil Bryant and legislative leaders received more bad news late last week in a warning from Treasurer Lynn Fitch to expect a $32 million to $40 million shortfall in money available for debt service in the new fiscal year. The $111.5 million in special funds legislators thought they could use to pay debts in fiscal 2017 is ...

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JRA set to hire law firm to evaluate financial viability of hotel proposal

By TED CARTER Jackson Redevelopment Authority is preparing to pay law firm Watkins & Eager $90,000 to examine the financial soundness of the proposal selected for building a convention center hotel. Though the scope of work has not yet been determined, the Jackson law firm would supposedly look into the financial viability of the deal Engineering Design Technologies offered on building ...

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Hertz ready to step in with City Centre conversion to hotel

  By TED CARTER A continued absence of progress on a Jackson convention center hotel could create an opening for Hertz Investment Group to convert downtown’s City Centre, a two-tower office complex, into a convention hotel. The only snag is a pair of tenant leases that do not expire until 2017 and 2018, according to Jim Ingram, executive VP and ...

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Yarber in fighting mood as Bryant signs Jackson-Evers takeover

Gov. Phil Bryant’s signing Wednesday of a bill giving control of Jackson-Medgar Evers International Airport and Hawkins Field to the state led Jackson Mayor Tony Yarber to pledge a constitutional challenge of the takeover. Yarber said in an emailed statement that he will “stand up for the city’s residents when it comes to unconstitutional measures.” The bill shifts policy making ...

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Broadband Voice becomes Fuse.Cloud as it turns 10

By TED CARTER Jackson’s Broadband Voice raised a toast to a 10-year partnership with the “the cloud” Tuesday and followed that by renaming itself Fuse.Cloud. The new brand more accurately portrays how the company has leveraged the Internet-based cloud’s capability to accommodate a growing list of voice, data storage and data transmission services, Fuse.Cloud says. Voice-over-Internet for business is still ...

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Treasurer Fitch warns bond bill spells trouble for credit rating

By TED CARTER You can expect the confidence national debt rating agencies have in Mississippi’s debt repayment abilities will be diminished by the Legislature’s approval of about $560 million in new debt in a year revenues are $100 million below projections and dropping still further, state Treasurer Lynn Fitch warns. A ratings drop from the likes of Moody’s, Fitch and Standard ...

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State’s failure to refill prepaid college fund, tapping of abandoned property fund worry Treasurer

By TED CARTER Two approaches Mississippi legislators took to help make fiscal ends meet in the 2016 session are especially troublesome to Treasurer Lynn Fitch. One is a refusal to replenish the Mississippi Prepaid Affordable College Tuition Fund to cover a $127 million shortfall the fund incurred before Fitch suspended new sign-ups for 18 months. Fitch reopened the fund on Oct. ...

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Stewart Speed taking his ‘Meridian’ rental concept to Mobile

By TED CARTER Jackson real estate developer Stewart Speed is exporting his “Meridian” rental apartment complex concept to Mobile after having nearly completed The Meridian at Fondren, a $33 million project on Lakeland Drive across from University of Mississippi Medical Center. Speed’s Jackson-based Leaf River Group will begin construction on the high-end Meridian at The Port apartment development this summer. The ...

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