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Law & Accounting

COMMERCIAL FINANCE 701: Payment and performance bonds in construction projects

Construction lenders on large commercial construction loans customarily require payment and performance bonds.  At the loan commitment letter stage, this condition rarely concerns a borrower.  Later, however, when the requirement materializes into a line item in the contractor’s budget, the borrower might have second thoughts.  We attempt to define and appraise the payment and performance bond (P&P Bond). Let’s assume ...

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ALAN TURNER — Newspapers and our American heritage

“Were it left to me to decide whether we should have a government without newspapers or newspapers without a government, I should not hesitate a moment to prefer the latter.” – Thomas Jefferson As we approach another 4th of July, it would be good to pause for a few minutes in our busy lives and reflect on all of the ...

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Chief of Mississippi Department of Finance and Administration retiring

Kevin Upchurch, state fiscal officer and executive director of the Mississippi Department of Finance and Administration, is retiring after more than 32 years in state government. He plans to depart at the end of June. Upchurch is a minister of building and grounds of sorts for the state. But the 400-employee department he oversees has a host of other responsibilities, ...

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Butler Snow expands into Texas

Ridgeland-based Butler Snow has expanded into Texas with the addition of attorneys Martin A Sosland, Gary W. Davis and José M. Luzarraga. Sosland will practice in the bankruptcy and restructuring group in Dallas; Davis and Luzarraga will practice with the firm’s product liability group in Austin and Dallas respectively. “Texas is an important strategic market for the firm and we ...

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CFPB moves to end mandatory arbitration in financial services contracts

By TED CARTER The U.S. Consumer Financial Protection Bureau wants to bar banks, credit card companies and other financial products providers from forcing consumers to agree to arbitration to settle account disputes. Banks, unsurprisingly, oppose the change. “Consumers will get less and pay more,” said Rob Nichols, president and CEO of the American Bankers Association, or ABA. The Consumer Financial Protection ...

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LAW ELEVATED — Planning for the $5-$10 Million couple: portability or credit shelter?

In 2009, each individual had a $3.5 million estate tax exemption. If a married individual had assets over $3.5 million, without careful planning, those assets in excess of $3.5 million would fall subject to a 45 percent estate tax. Careful planning often included retitling assets between spouses and utilizing a credit shelter trust (typically, a trust for the benefit of ...

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Lott joins global network

Stuart P. Lott of Bradley Arant has been invited to join the exclusive CALIBR Global Leadership Network, a professional membership organization dedicated to advancing the careers of mid-to-senior level African-American executives through a variety of training, mentoring, coaching, and networking opportunities. CALIBR is a 501(c)(3) organization and a strategic partner of The Executive Leadership Council, the nation’s premier network of ...

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Walker earns credential

Robert F. Walker of Baker Donelson has earned a Certified Information Privacy Professional credential from the International Association of Privacy Professionals. A CIPP credential means the recipient has gained a foundational understanding of privacy and data protection law and practice, and has knowledge of jurisdictional laws, regulations and enforcement models. Walker holds the CIPP/US concentration, which focuses on the U.S. ...

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Gilbert joins law firm

J. Scott Gilbert has joined Watkins & Eager PLLC as Counsel. Gilbert, who has received the National Health Care Anti-Fraud Association 2013 Investigation of the Year Award, will focus his practice in Healthcare Litigation and White Collar Criminal Defense. Gilbert previously was an Assistant United States Attorney in the Southern District of Mississippi, where he litigated white-collar crime matters, including ...

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Hardin board adds Bailey

The Phil Hardin Foundation Board of Directors has elected Kacey Guy Bailey, a Meridian attorney and community leader, as its newest member. Bailey will join the seven-member board of the statewide education philanthropy at its April meeting. A Laurel native, Bailey is a partner in the Meridian law firm of Barry, Palmer, Thaggard, May & Bailey. She is a 2001 ...

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