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MBJ FEATURE

So much for a handshake

Cadence spurns Trustmark for upstart Houston investment group In the end, Starkville-based Cadence Bank’s handshake and “definitive agreement” with Trustmark National Bank went by the wayside last Wednesday in exchange for an attractive sale price and immediate capital injection of upwards of $200 million from a Houston banking investment group. The prospect of keeping intact its workforce, name and charter ...

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National Trend has been opposite of Mississippi law

Since 2005, when the U.S. Supreme Court ruled in Kelo v. New London, Conn., that the city could take private property and transfer it to a developer, the reaction from states has been swift and loud. Since then, 44 states have enacted eminent domain reform, in statutes that either prevent the use of eminent domain for private enterprise all together ...

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Time may have run out on billable hours

Law firms adjust to troubled economy Over the past couple of years, as the economy soured, numerous headlines nationwide began proclaiming the death of the billable-hour model used by law firms. With money tight, clients are looking for options such as alternative or flat fees, according to reports. That trend is being seen here in Mississippi. However, local law firms ...

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Stage set for Wells Fargo as era begins in Mississippi

Wells Fargo made its name in the Old West with daring stagecoach ventures through a treacherous frontier. In Mississippi, the San Francisco-based banking giant hopes to build a reputation as a key lender to business, especially in agriculture, said Fred Osing, Wells Fargo business banking manager for Mississippi. Wachovia, whose Mississippi operations converted officially to Wells Fargo last week, was ...

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Natchez REC-PLEX not a slam dunk

Tate Hobdy knows the wheels of finance often turn slowly for projects like a large, multi-use recreational complex. But that is not squashing his hope that ground will be broken on one in Natchez by the end of next summer. Hobdy, chairman of the Natchez-Adams Recreation Commission, is spearheading a planning and fundraising effort to construct a new recreation complex ...

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It’s child’s play

Building youth sports facilities can mean lots of tourism dollars for communities The Delta Sportsplex Foundation has the desire to build a recreational complex in Greenville. It even has a 95-acre plot of land Washington County has agreed to lease to it for that purpose. Now all it needs is the money to build it. Efforts toward securing the money started Sept. ...

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Carter joins MBJ editorial team

Veteran journalist to cover banking, finance and real estate The Mississippi Business Journal has expanded its newsroom, adding veteran journalist Ted Carter as staff writer. Carter begins this week, and will cover banking and finance, real estate (commercial and residential), accounting and Main Street/economic development. “Over the past couple of months, Ted has served as an MBJ contributing writer, and ...

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Hosemann handed 118,000 signatures

JACKSON — One hundred nineteen thousand signatures of registered Mississippi voters landed at Mississippi Secretary of State Delbert Hosemann’s office last Thursday morning. They all oppose government taking private property and handing it to another private person. If Hosemann’s office certifies the signatures as belonging to people who are registered to vote in Mississippi, voters will decide the issue in ...

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It’s legal in some states

Utilities make donations (more than $3 million the last three years) and then charge the cost back to customers Entergy Mississippi and Mississippi Power Company have been reimbursed by customers for more than $3.1 million in charitable contributions to schools, colleges, civic organizations and businesses over the past three years, according to public records. These regulated public utilities plan to ...

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