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Transportation cuts could cost 400,000-plus jobs

Federal investments in highways and transit systems are expected to decline by over $15 billion in 2010, according to analysis of transportation spending trends conducted by the Associated General Contractors of America. The estimated 19.3 percent drop in federal formula and stimulus funding for transportation projects next year is likely to force over 430,000 layoffs throughout the county. The construction ...

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Bankrupt Majestic Star reports better numbers

TUNICA — Bankrupt Majestic Star Casino, LLC, which operates Fitzgeralds Casino/Hotel in Tunica, has released financial results for the three and nine months ended Sept. 30, 2009. For the quarter, consolidated net operating revenues were $74.8 million compared to $82.7 million for the same period in 2008. The company recorded an operating loss of $1.9 million, compared to an operating ...

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Stimulus-funded grants awarded by MDA

ACROSS MISSISSIPPI — The Mississippi Development Authority (MDA) has awarded 25 grants in the first round of the Mississippi Job Protection through Energy Economic Development Program. A part of the State Energy Program (SEP) funded by the American Recovery and Reinvestment Act of 2009 (ARRA), the Job Protection Program allocated $5.2 million to eligible companies in this round. Another $4.8 ...

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U.S. unemployment claims fall again

In the week ending Nov. 28, the advance figure for seasonally adjusted initial unemployment claims in the U.S. was 457,000, a decrease of 5,000 from the previous week’s revised figure. The four-week moving average was 481,250, a decrease of 14,250 from the previous week’s revised average. The advance seasonally adjusted insured unemployment rate was 4.1 percent for the week ending ...

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Agriculture disaster bill introduced

WASHINGTON — Rep. Marion Berry (D-Ark.) and Rep. Travis Childers (D-Miss.) have introduced legislation to provide timely disaster assistance to producers facing severe crop loss from this fall’s heavy rains and floods. Sen. Blanche Lincoln, chairman of the Senate Committee on Agriculture, and Senator Thad Cochran previously introduced companion legislation. “In North Mississippi, both farmers and local economies have suffered ...

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Entergy audit — routine or not?

  JACKSON — While Attorney General Jim Hood said a new federal audit of Entergy Mississippi means the government is taking a special interest in investigating the utility, both federal and Entergy spokespersons have said the audit is routine. The Attorney General’s Office and Entergy published press releases Nov. 24. Hood, who sued Entergy for fraud in 2008, publicized a ...

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Callon calls special meeting

NATCHEZ — Callon Petroleum Company has set Nov. 30 as the record date for a special meeting of shareholders to be held Dec. 31 at its company headquarters. The meeting will begin at 10:00 a.m. The shareholders will be asked to vote on two issues — an amendment to the company’s Certificate of Incorporation to increase the number of authorized ...

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BlueFire releases earnings statement

FULTON — BlueFire Ethanol Fuels Inc., which is proposing to build an ethanol refinery in Fulton, announced year-to-date income of approximately $4.11 million. Income sources for this period included Department of Energy reimbursement, various consulting fees and Solazyme Inc. sugar sales. “2009 has been a dynamic year for BlueFire Ethanol and we expect this momentum to build through the end ...

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Hancock Fabrics makes money

BALDWYN — During the third quarter, Hancock Fabrics Inc. accomplished something it has not done since emerging from bankruptcy — turn a profit. Net income was $3 million, or $0.16 basic earnings per share, compared to a net loss of $300,000, or $0.02 loss per share, in the third quarter of fiscal 2008. EBITDA was $6.1 million, an increase of ...

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Grand Gulf to see major expansion

PORT GIBSON — Entergy Mississippi Inc. announced that the Mississippi Public Service Commission approved plans for a major upgrade to the Grand Gulf Nuclear Station in Port Gibson. The utility said the project would be one of the largest expansions of a nuclear power plant in U.S. history and will make Grand Gulf the largest single-unit nuclear power plant in ...

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