MBJ_Aug15_2014

INSIDE — AdvoCare Entrepreneur Challenge to gauge resources in Oxford area

35

MBJ FOCUS

YEARS

Banking & Finance

1979

2014

August 15, 2014 • Vol. 36, No. 33 • $1 • 28 pages www.msbusiness.com

{Section begins P 14}

» Bankers Association celebrates 125 years. » Intern program offers assistance to military.

The List {P 21} » Credit Unions Strictly Biz {P 10} » MSU announces $40M expansion plan for Dudy Noble baseball field.

Energy {P 11} » KiOR almost broke.

Jackson air fares among most expensive » Page 4

REAL ESTATE

Landmark's future under new owner is anyone's guess TUCKED AWAY Lakeland Music in Flowood offers vintage guitars.

P9

» Mystery man said to have placed winning bid for Jackson office building

By TED CARTER ted.carter@msbusiness.com

The new owner of Jackson’s Landmark Center is reported to be of foreign descent, though Central Business District leaders say the buyer’s plans for the vacant seven-story Capi-

tol Street building are a mystery.

The building sold at a minimum bid auction for about $2.125 million on July 31. Downtown leaders say they have no information on the See

LANDMARK, Page 9

http://msbusiness.com/events/health-care-heroes-nomination-form/

2 I Mississippi Business Journal I August 15 2014 SMALL BUSINESS

‘An ecosystem for entrepreneurs’ » AdvoCare Entrepreneur Challenge to gauge resources in Oxford area

BY WALLY NORTHWAY wally.northway@msbusiness.com

A new entrepreneur’s competition has launched in Oxford that offers something a little different from similar programs. Winning competitors, in addition to the usual coach/mentoring services and other perks, will vie for attractive cash prizes.

However, the AdvoCare Entrepreneur Challenge — representing a partnership between the Oxford-Lafayette County Economic Development Foundation and Plano, Texas-based AdvoCare International, L.P. — was also started with a larger goal in mind. It is seen as a tool for the Oxford area to gauge the resources available to prospective small business owners and Maynard the ability to match those resources with entrepreneurs while also maintaining the assets that make Oxford attractive to business and commerce as well as retirees and others.

“What we are wanting to do is create an ecosystem for entrepreneurs,” said Jon Maynard, president and CEO of the Oxford-Lafayette County Chamber of Commerce and Economic Development Foundation. “We want to grow our businesses from within, to grow Oxford without changing it.

People come here because they buy into our culture, our atmosphere. We want to maintain that as well as diversify our businesses while keeping some of our talent in here in Oxford.”

The idea for the AdvoCare Entrepreneur Challenge was born during a conversation between Maynard and AdvoCare president and CEO Richard Wright at a mid-March event in Texas. The two men are old friends — they met in Louisiana when working in politics, and Maynard credits Wright with helping launch his economic development career.

While talking at the event, Wright asked Maynard if Oxford offered any kind of entrepreneur-recognition program.

When Maynard said no, Wright expressed interest in offering financial support for a program aimed at boosting entrepreneurship.

AdvoCare is a multilevel marketing company, which sells nutrition, weight-loss, energy and sports performance products "AdvoCare is the purest form of the free enterprise system, and America is the greatest place on earth to pursue your dreams. Entrepreneurs create jobs, create freedom for themselves and others. We are excited to have this opportunity to share our success by encouraging and supporting…entrepreneurial dreams and pursuits,” Wright said in a statement.

Maynard went back to Oxford and started drawing up the program. By mid-May, the blueprint for the AdvoCare Entrepreneur Challenge was complete, and Maynard and others were thrilled when Wright and AdvoCare offered $17,500 in prize money to the winners.

“The folks at AdvoCare ended up offering three times what we were hoping to get,” Maynard said.

Those who choose to enter the AdvoCare Entrepreneur Challenge, which will be limited to roughly 15 entrants, face a nine-month process. Beginning in September, the competitors will make their first pitch. From this pitch they will be instructed to tap into local resources and report back the following month. This will continue through December when the Entrepreneurial Alliance will begin to prep the entrepreneurs for the first “Pitch Night.” In January, the first

2014 Winter-Reed Partnership Award Dinner Honoring Dr. Hank Bounds,

“What we are wanting to do is create an ecosystem for entrepreneurs.”

Jon Maynard CEO and president of Oxford-Lafayette Chamber

LAWSUIT PARTNER OF EDUCATION SPONSOR

Commissioner of Higher Education

Tuesday, Sept. 30 - 7 p.m. @ Jackson Convention Complex Dr. Hank Bounds' contributions to all levels of public education will be recognized during the Mississippi Association of Partners in Education's seventh tribute. The award was initially presented to and named for former Governor William Winter and Tupelo business leader Jack Reed Sr.

“Pitch Night” event will be held. This event will determine which businesses will move on in the competition and which businesses will require more work. There will be another “Pitch Night” in March and the final Pitch Night event in May that will determine the ultimate winners of the AdvoCare Prize.

The intervening months of February and April will be spent reviewing the results of the previous month’s Pitch night and offering advice for each of the progressing businesses.

The winners will be announced at the Oxford-Lafayette County Chamber and EDF Annual Meeting in June 2015.

The AdvoCare Entrepreneur Challenge Trophy and cash prizes are $10,000 (first place), $5,000 (second place) and $2,500 (third place).

In addition, winning business plans will receive benefits including, but not limited to, incubator space, professional assistance (legal/accounting), access to local and regional Angel networks and other sources of funding and exposure/publicity.

Applicants may apply online at www.oxfordms.com/advocare-challenge. All applications must be submitted to later than Sept. 15, 2014.

Maynard said he hopes that the AdvoCare Entrepreneur Challenge becomes an annual event. He said they would assess the program upon its conclusion and make a decision about whether there will be a competition in 2015.

Mississippi Economic Council SUPPORTING SPONSOR

Tribute dinner will include a raffle of original artwork by Andrew Bucci. Raffle tickets are $20 each and available for purchase at www.mapie.org.

Individual tickets sales and sponsorship info – www.mapie.org | @mape_ms | #WinterReed The event benefits Mississippi Association of Partners in Education, a 501(c)(3) that has served as a statewide network of educators and community partners since 1984.

State gets $532K in Pfizer settlement JACKSON — Mississippi will receive $532,675 part of a $35 million settlement with a Pfizer Inc. subsidiary over the marketing of an organ-transplant drug.

Mississippi and 41 other states are involved in the settlement with Pfizer, the parent company of Wyeth Pharmaceuticals Inc. The deal resolves allegations Wyeth misrepresented the uses of the drug Rapamune.

A statement from Mississippi Attorney General Jim Hood says "state consumer protection laws were vio-

lated by misrepresentation of the uses and benefits of Rapamune."

Rapamune was approved to help prevent the rejection of kidney transplants. The states alleged the company promoted it to doctors for uses following other organ transplants.

New York-based Pfizer says in a statement the alleged activity occurred before it acquired Wyeth.

Pfizer didn't admit wrongdoing or liability as part of the settlement.

— from staff and MBJ wire services

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4 I Mississippi Business Journal I August 15 2014 TRANSPORTATION

Jackson air fares among most expensive » Fitch forecast for Southwest departure to increase costs for airlines and passengers looking accurate

By TED CARTER ted.carter@msbusiness.com

Passengers at Jackson Medgar Wiley Evers International Airport may already be feeling a fare pinch from the regional airport’s loss of discount carrier Southwest Airlines.

First quarter figures from the U.S. Department of Transportation’s Bureau of Transportation Statistics show average round-trip fares rose 4.7 percent over the first quarter of 2013, going from $434.25 to $454.49. The first quarter increase landed Jackson Evers a ninth-place ranking for highest domestic fares.

Though Southwest didn’t cease service until early June, the anticipated loss of the $800,000 the Dallas-based airline generated for the airport annually led the Jackson Municipal Airport Authority to hit remaining carriers with landing fee increases of 18 percent in January and 15 percent in May. A new budget that goes into effect Oct. 1 could include further increases.

The Airport Authority hopes by next summer it can regain the A- rating Fitch Rating Service removed on the Authority’s

“(CEO Dirk Vanderlees) may believe (fees placed on carriers) has not affected fares, but certainly it is part of the cost of doing business.”

Jessica Wheeler Spokesperson for Allegiant Air

See

TOP 10, Page 5

sengers)

estic pas sed on 2013 U.S. originating dom (ba * rts po air ive ns Most expe fare in 1Q 2014 (2014$) ry ra ne iti tic es m do e ag er av ranked by

Pct. Changes mestice Intinerary Fares Inflation-Adjusted Average Do (2014$) 14 2013-2014 1Q 2013 1Q 2014 2000-20 12 20 1Q 11 20 -2.4 1Q 1Q 2000 -18.8 514.41 .86 526 Rank Airport .07 542 .48 -0.3 492 633.16 -16.3 499.05 Cincinnati, OH .79 500 1 .98 499 3.4 491.24 -11.4 596.48 496.38 Washington Dulles 480.08 2 469.40 -3.2 453.71 .96 9 559 -12.

494.10 Madison, WI 510.45 3 519.71 -2.2 503.95 .02 567 -22.5 TX h, Bus 482.12 Houston 493.10 4 .90 484 .79 -6.1 496 -1.3 622.03 471.88 Newark, NJ 500.65 5 .29 502 .68 3.2 485 -3.5 478.20 458.14 Savannah/Hilton Head .05 444 6 .48 463 .98 0.2 430 -19.1 474.90 454.53 Cleveland, OH 453.61 7 460.23 3.1 .81 410 .70 0.7 561 454.49 Pensacola, FL 440.82 8 444.79 .57 -7.5 427 .36 6 451 -15.

448.79 Jackson/Vicksburg, MS 485.24 9 535.64 479.78 -1.0 .58 531 -18.9 TN 380.69 Memphis, 10 384.35 .04 384 .14 376 469.58 Avg

U.S. Average Domestic Itinerary

* Not including Alaska, Hawaii and

Fare

Puerto Rico

purchase a s unless the customer does not fare trip ndrou of sist con s fare the price charged by itinerary fares. Itinerary l ticket value which consists of tota the on » Fares are based on domestic ed bas are s Fare d. ude only the price paid at -way fare is include at the time of purchase. Fares incl es do not include ity return trip. In that case, the one ent side out an by ed levi s taxes and fee ort or onboard the aircraft. Averag the airlines plus any additional include other fees paid at the airp not do and se cha pur et tick the time of the fares. a few abnormally high reported ey: DB1BTicket frequent-flyer or “zero fares” or stics, Origin and Destination Surv tion Stati — Source: Bureau of Transporta

FOR BEST FARES, LEARN THE YIELD MANAGEMENT GAME

By TED CARTER ted.carter@msbusiness.com The Wall Street Journal in a 2011 article likened the pricing of airline tickets to a rug bazaar where the airlines try to get as much as they can out of each passenger.

But the passenger can bring some savvy to the bargaining as well, says Glenn McGehee, who learned the airline ticket buying trade from running McGehee Cruise & Vacation Inc. at Jackson’s Highland Village for 39 years.

To know the tendencies of the airline with which you are bargaining, think “yield management,” McGehee McGehee says.

“Airlines do raise and lower fares, but what they are tremendous at is yield management.”

This essentially means they put more of the low fares on off-peak flights and on flights that aren’t close in to the airport from which you are departing, he explains.

As an example, you could get a $294.60 American Airlines roundtrip flight that would leave Jackson for Los Angeles on Aug. 11. But chose, for instance, the 1 a.m. redeye back to Jackson on Aug. 14 and you’ll pay $1,050 – unless you played the yield management game correctly by booking ahead at just the right time, either well in advance or close to departure when a seat could go unfilled.

And you would have also had to bring another trait to the game: flexibility. The right block is there only for someone who can be flexible on departure dates.

“Maybe you could get it down to the $400 or $500 range” for the return to Jackson, McGehee says.

United Airlines and Delta Airlines also have the base $294.60 Jackson-L.A. roundtrip. “If it’s available, they may only allow five or six seats at that fare on a given day.”

Get the wrong date and time and you could pay $800 or more, he adds.

Other than booking in advance, no “perfect” time exists for coming out a winner in yield management maneuvering, he adds. “It boils down to nobody knows.”

In their yield management, airlines will block off from, say, eight to 12 levels of discounts, according to McGehee.

Your task is to catch the right block at the right time, he says. “One of the biggest variables is how many people are already booked.”

When one block is sold out, ticket sellers move to the next block and quote a higher price. So when the person sitting next to you on a flight pays substantially less for a ticket, attribute the difference to savvy yield management manipulation, or perhaps just good luck.

The blocking practice also explains why group travelers See

BEST FARES, Page 5

August 15 2014

What you and the airlines pay

$520,000

$400,000 Continued from Page 4

$39 million bond issue for refurbishing the Jackson Evers terminal and upgrading security checkpoints. The Authority has delayed the capital improvements until the higher rating is restored.

In the downgrade to BBB+, Fitch said the loss of Southwest will likely lead to “measurable and potentially permanent declines” in the airport’s already small passenger counts.

The result, Fitch said, will be higher fees to airlines and higher costs to passengers.

Fitch’s prediction is correct so far.

Airport Authority CEO Derk Vanderleest has said the airlines “do not necessarily” pass fee increases on to passengers and added airlines serving the airport incur airport costs within the 3 percent of total operating costs – a standard for the airline industry. The fee increases have not kept remaining carriers such as Delta Airlines and United Airlines from bumping up seat availability by double digit percentages to fill the void left by Southwest, Vanderleest noted.

Costs assessed carriers can vary dramatically by airport, said a spokeswoman for Allegiant Air, an ultra low-cost carrier in talks with Jackson Evers on providing non-stop serv-

$2.71 per 1,000 lbs

$4.50

TOP 10

$1,122 $630,000 ice to Orlando. Some airports, for instance, provide fueling and other ground service, while others leave those jobs to individual airlines, said Jessica Wheeler, Allegiant spokeswoman.

Costs associated with operating out of Jackson Evers have caused Allegiant to so far balk at providing the twice weekly service. If costs reach a point that Allegiant can’t continue to offer its ultra low fares, the Las Vegas-based airline pulls out. Or if costs are too high at the outset, Allegiant won’t come at all, Wheeler said, which at the moment is Allegiant’s view of Jackson Evers.

“He (Vanderleest) may believe that it has not affected fares, but certainly it is part of the cost of doing business,” she said of the fees placed on carriers.

Jackson Evers’ ninth-place domestic fare ranking for the first quarter has it sandwiched between Pensacola, Fla., and Memphis. Birmingham landed a 13th-place ranking, with its fares going up 6.8 percent in Q1 over the same quarter in 2013.

In looking at the top 10 airports for average domestic fares from 2000 to the first quarter of 2014, Jackson Evers is the only one to show a net increase in fares over the period at 0.7 percent. By comparison, Pensacola’s average domestic fares fell 19.1 percent for the period and Memphis’ 15.6 percent.

Mississippi Business Journal

BEST FARES

s International and passenger at Jackson Medgar Wiley Ever Here’s a rundown on fees charged airlines nds of aircraft are assessed at $2.71 per 1,000 pou cial mer com for fees ing land s’s Ever son Airport: Jack ort Authority. landed aircraft weight, according to the Airp lounges is $77.89 a e spaces, boarding area/gate or passenger offic e rativ inist adm , ters coun t ticke for Rental said. square foot annually, the Airport Authority your bags -- rents for ity – the part you don’t see while awaiting facil eup mak age bagg ot re-fo squa 2 6,67 The carriers, the Authority said. $520,000 annually, a cost shared by all the y. The conveyor age claim conveyor belts/baggage claim lobb bagg the to ied appl is ing shar cost lar simi A claim lobby, covering des maintenance and utilities. The baggage system rents monthly for $2,017, which inclu airlines $630,000 annually.

8,088 square feet of shared space, costs the , Jackson Evers does at $1,122 a month. Unlike many other airports Each passenger boarding bridge is leased two aircraft per night fee. The bridge fee entitles the airline to park not charge airlines a separate ramp rental per bridge, the Airport Authority said. the number of a pro-rated $400,000 annually based on For security, the airlines pay Jackson Evers Authority. passengers served, according to the Airport passenger charge the er Facility Charge” on each ticket, the only Passengers are assessed a $4.50 “Passeng federal regulations allow.

$77.89/sq ft

I

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Continued from Page 4

seldom gain bargain prices, McGehee says.

“When you have bigger groups it works against you, especially if you’ve got over 50 passengers.”

The best approach for getting better prices on group travel,is to spread the departures throughout the day, he advises.

Other factors beyond the air fare blocks make a difference as well, according to McGehee, who cited the transformation in the airline sector through mergers and bankruptcies and fluctuating fuel costs.

But the blocks are big, nonetheless. For instance, Delta Airlines’ base price from Jackson Medgar Wiley Evers International to Atlanta HartsfieldJackson International is $306.60. “This is not a date-specific” price and nor is it based on seat availability, McGehee says. “It could be $600 by the time someone bought it or it could be as low as $200 based on the seat vacancies at the time.”

McGehee says he is not fully convinced that the loss of Southwest Airlines could cause fares out of Jackson Evers to rise significantly above fares out of New Orleans, Birmingham or Memphis. “To some extent that has happened,” he says. “But that doesn’t mean Jackson is persona non grata. They can still be competitive.”

Back in 1997 when Southwest Airlines came to Jackson, the perception was Southwest would maintain plentiful cheap air fares. “What we found was that people were jumping in and booking Southwest and their fares went up.”

By contrast, the loss of bookings at Jackson Evers brought down Delta and American’s fares, he notes.

Now Delta, American, United and US Airways could see a similar loss of booking should travelers decide to drive to airports two or three hours away, McGehee says.

“More bookings from other airports could lower fares in Jackson.”

The lack of a low-cost carrier such as Southwest can have a major impact on ticket pricing, The Wall Street Journal concluded in an analysis of the Bureau of Transportation Statistics’ average domestic fares for the first quarter of 2011.

In that report, the business newspaper noted the two airports with the highest fares – Houston’s Bush International and Huntsville (Ala.) International – shared the distinction of not having a low-cost carrier.

The analysis showed Bush International’s average domestic fare was $477 compared to Houston’s Hobby International’s $299, one of the lowest average fares in the country. The difference: Southwest served Hobby.

Huntsville International had an average domestic fare of $473 in 2011’s first quarter. High fares led cost-conscious travelers to drive to Birmingham or Nashville, both less than two hours away, for fares $100 less offered by Southwest, The Wall Street Journal reported.

Today, passenger traffic has fallen off at Huntsville International to the point it is no longer part of the Bureau of Transportation Statistic’s quarterly rankings.

“There’s no getting around the fact that competition from a low-cost carrier continues to be a major factor in reducing rates, said Bob Hazel, an airport expert at consulting firm Oliver Wyman, in the Journal report.

A member of the Mississippi Press Association www.mspress.org

200 North Congress, Suite 400 Jackson, MS 39201-1902 Main: (601) 364-1000 Faxes: Advertising (601) 364-1007; Circulation (601) 364-1035 E-mails: mbj@msbusiness.com, ads@msbusiness.com, photos@msbusiness.com, research@msbusiness.com, events@msbusiness.com

Website: www.msbusiness.com August 15, 2014 Volume 36, Number 33

ALAN TURNER Publisher alan.turner@msbusiness.com • 364-1021 ROSS REILY Editor ross.reily@msbusiness.com • 364-1018 WALLY NORTHWAY Senior Writer wally.northway@msbusiness.com • 364-1016 FRANK BROWN Staff Writer/Special Projects frank.brown@msbusiness.com • 364-1022 TED CARTER Staff Writer ted.carter@msbusiness.com • 364-1017 LISA MONTI Contributing Writer mbj@msbusiness.com • 364-1018

MBJPERSPECTIVE August 15, 2014 • www.msbusiness.com • Page 6

OTHER VIEWS

M

MPACT improved, hopefully less costly

ississippi plans to reopen this fall the program that allows families to lock in ahead of time some or all of the costs of higher education for their children.

It’s a good program that unfortunately got off track financially because it was oversold and underfunded.

To her credit, State Treasurer Lynn Fitch, in her first year of office, recognized the problem and suspended any new enrollments.

When the Mississippi Prepaid Affordable College Tuition Program ends in October its two-year hiatus, it will have some safeguards in place. The most important is setting prices

high enough so as to maintain a 15 percent cash cushion should investments swoon or tuitions accelerate again.

The previous version of MPACT got into trouble because it didn’t adjust fast enough to Wall Street’s slump or to the steep increases in tuition at Mississippi’s eight public universities. As a result, a program that was supposed to be entirely self-funded built up an $80 million shortfall, for which the taxpayers are contractually on the hook.

The plan is to keep the two pots of money — pre-shutdown and post-shutdown — separate. That way, it will be easier to track how the new program compares to the old, and it won’t make new enrollees — who are already

looking at 60 percent to 90 percent rate hikes — cover the amount that was undercharged to previous enrollees.

Someone is going to have to pay for the shortfall, though. The board said this week it will be asking the Legislature to cover the projected deficit in installments. So far, lawmakers have been reluctant to pony up state funds. Unless, though, there is a dramatic upswing in investment returns, they will be left with no choice.

That’s not good news for taxpayers, but hopefully Fitch and the current MPACT board have stopped the tab from getting any bigger.

— The Greenwood Commonwealth

BOBBY HARRISON Contributing Writer mbj@msbusiness.com • 364-1018 TAMI JONES Advertising Director tami.jones@msbusiness.com • 364-1011

» THE OUTSIDE WORLD

» PERCOLATING WITH BILL

Civil society protects us from tyranny

MELISSA KILLINGSWORTH Sr. Account Executive

melissa.harrison@msbusiness.com • 364-1030 VIRGINIA HODGES Account Executive virginia.hodges@msbusiness.com • 364-1012 TACY RAYBURN Production Manager tacy.rayburn@msbusiness.com • 364-1019

W

CHARINA RHODES Circulation Manager charina.rhodes@msbusiness.com • 364-1045 MARCIA THOMPSON-KELLY Business Assistant marcia.kelly@msbusiness.com • 364-1044 SUBSCRIPTION SERVICES (601) 364-1000 subscriptions@msbusiness.com Mississippi Business Journal (USPS 000-222) is published weekly with one annual issue by MSBJ 200 N. Congress St., Suite 400, Jackson, MS 39201. Periodicals postage paid at Jackson, MS. Subscription rates: 1 year $109; 2 years $168; and 3 years $214.

To place orders, temporarily stop service, change your address or inquire about billing: Phone: (601) 3641000, Fax: (601) 364-1035, Email: charina.rhodes@msbusiness.com, Mail: MS Business Journal Subscription Services, 200 N.Congress Street, Suite 400, Jackson, MS 39201 POSTMASTER: Send address changes to Mississippi Business Journal, Circulation Manager, 200 North Congress Street, Suite 400, Jackson, MS 39201 To submit subscription payments: Mail: MS Business Journal Subscriptions Services, 200 North Congress Street, Suite 400, Jackson, MS 39201.

No material in this publication may be reproduced in any form without the written consent. Editorial and advertising material contained in this publication is derived from sources considered to be reliable, but the publication cannot guarantee their accuracy. Nothing contained herein should be construed as a solicitation for the sale or purchase of any securities.

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Entire contents copyrighted © 2014 by Journal Inc. All rights reserved.

» HOW TO WRITE Letters to the editor are one of the most widely read features of the Mississippi Business Journal, and they give everyone a chance to voice their opinions about current affairs. We’re interested in what you think and we welcome Letters to the Editor for publication. Here are the guidelines: >> Letters should not exceed 300 words in length as a general rule. >> All letters must bear the writer’s address and telephone number. Street addresses and telephone numbers will not be published, but may be used for verification purposes. Letters may not appear without the author’s name. >> Form letters, thank you letters and letters to third parties generally are not acceptable. >> Letters must be typed or e-mailed. >> Letters must conform to good taste, not be libelous and not involve personal attacks on other persons.

>> All letters are subject to editing, and become the property of the Mississippi Business Journal. >> Letters can be sent to The Editor, The Mississippi Business Journal, 200 North Congress, Suite 400, Jackson, MS 39201, delivered to the newspaper during regular business hours or e-mailed to editor@msbusiness.com. They may also be faxed to Ross Reily at (601)-364-1007.

» CORRECTIONS The Mississippi Business Journal takes seriously its responsibility to provide accurate information, and will correct or clarify articles produced by the editorial department if we have made an error or published misleading information. The correction will be placed in the perspective section.

If you see inaccuracies in Mississippi Business Journal news stories, please report the mistake via email at editor@msbusiness.com.

hen Frenchman Alexis de Tocqueville toured America in the early 1800s, he marveled at our democratic and civil society. But, in his two volume commentary Democracy in America he wrote at length about the risks of tyranny in America. He believed America had more to fear about tyranny from within than from without, quoting from a prescient letter Thomas Jefferson sent to James Madison.

“The tyranny of the Legislature is really the danger most to be feared, and will continue to be so for many years to come. The tyranny of the executive power will come in its turn, but at a more distant period.”

Tocqueville saw America’s resistance to tyranny arising from Bill Crawford three things, “(1) the peculiar and accidental situation in which Providence has placed the Americans; (2) the law; (3) the manners and customs of the people (civil society).”

“The most fascinating aspect of Tocqueville's model of civil society,” explained Peter Dobkin Hall, professor of history and theory at City University of New York, “is the way its various components fit together: (1) family and community life and the churches act to shape private moral and perceptual agendas and direct them towards the public sphere; (2) civil and commercial associations and the press act as vehicles for shaping and focusing public action outside the formal realms of politics and government; (3) political associations and parties in turn act as the bases for forming the electoral coalitions on which formal governmental action is based.”

See CRAWFORD, Page 7

PERSPECTIVE

August 15, 2014 I Mississippi Business Journal

» RICKY NOBILE

CRAWFORD

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Continued from Page 6

Nearly 200 years ago, Tocqueville saw strong families, communities, churches, civic and business organizations and a free press giving direction to political agendas.

Not today.

Now he would see heavily-financed, national and state political agendas intentionally dividing families, communities, churches and civic and business associations and dominating media.

In the section of his book titled “Tyranny of the Majority,” Tocqueville wrote, “Unlimited power is in itself a bad and dangerous thing; human beings are not competent to exercise it with discretion, and God alone can be omnipotent.”

As our political parties more ruthlessly pursue ideological purity, detesting compromise and reconciliation, the risks of legislative tyranny grow…that tyranny being able to force and enforce contentious laws and policies on the minority.

We see instances already. Legislative tyranny at the national level forced Obamacare on states.

Legislative tyranny at the state level forced local governments to abandon reasonable open-carry public safety restrictions. (How ironic to see state leaders fight federal tyranny, then act tyrannically toward local government.)

Read George Washington’s admonition, “Government is not reason; it is not eloquent; it is force. Like fire, it is a dangerous servant and a fearful master.”

Patriots must stand against tyranny of all kinds and ever renew family-, church- and communitybased civil society.

Bill Crawford (crawfolk@gmail.com) is a syndicated columnist from Meridian.

»INSIDE MISSISSIPPI

Mission: Hemp possible

Y

ou don’t have to inhale. You don’t even have to put it in your mouth. We don’t need it for recreational use, we need it for work, jobs and a more productive Mississippi. Our great agricultural state needs to take the lead in industrial hemp production. And we need to do it quickly.

The New York Times has been running some interesting articles about legalization of marijuana — the inhaling kind. Longtime Circuit Judge Marcus Gordon told the crowd at the Neshoba County Fair that he predicts marijuana will be legalized in Mississippi within the next decade. Now, we know Gov. Bryant won’t allow that while he’s in the mansion, but we can hope Bryant may see the benefit in industrial hemp before it is too late to get ahead of the curve.

There is a difference between the recreational stuff and the stuff that could really change our future: a big difference based on potency. The term “marijuana” refers to the medicinal, recreational or spiritual use involving the smoking of cannabis flowers. Industrial hemp contains only about 0.3 percent to 1.5 percent THC (tetrahydrocannabinoids, the intoxicating ingredients that make you high) while marijuana contains about 5 percent to 10 percent, or more, THC. Hemp fiber is the longest, strongest and most

durable of all natural fibers. Hemp was a dominant crop on the American landscape, refined for various indusDavid Dallas trial applications, including paper and textiles. In fact, our U.S. Constitution retary of the treasury at was drafted on hemp paper. Thomas Jefferson loved the time and the Mellon the stuff. Our Founding Fathers did some of their Bank was major investor best work on hemp. in Dupont Chemical. MelOver time, the use of industrial hemp has evolved into an even greater variety of products, in- lon even appointed a family member to head a newly created cluding health foods, organic body care, clothing, Bureau of Narcotics designed construction materials, bio-fuels, plastic composspecifiites. Industrial hemp is a major crop in throughout cally to Europe, Canada and Asia.

It grows in just about any soil, requires no pesticides destroy hemp production and needs little maintenance. No tree or plant can produce more paper per acre than hemp and it creates in the U.S. But less than 10 years later, much less pollution. we needed hemp desperately. The Hemp has long been considered a threat to paper, Japanese had cut off our supply timber and the petroleum industries and their lobbyfrom Asia, and farmers were ing power has been able to prolong hemp’s status as a encouraged to grow loads of pariah crop. Hemp conspiracists blame Andrew Melhemp during WWII as part lon and the Dupont family for making it illegal to of the Defense Department’s “Hemp for Victory” grow hemp under the Hoover Administration, banCampaign. It produced rope for Navy towlines, mesh ning it as a competitive threat more than a drug threat. Just in case anyone thought our capitalist sysSee DALLAS, Page 8 tem was about competition. Andrew Mellon was sec-

8 I Mississippi Business Journal I August 15, 2014

PERSPECTIVE

»FROM THE GROUND UP WITH PHIL HARDWICK

» WHAT YOU’RE READING

Financial literacy makes better schools and communities

Here are the most-read stories on msbusiness.com from August 5 - August 12.

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love Junior Achievement. Too bad it's no longer around.

Once upon a time I was a Junior Achievement volunteer, a business person who went into elementary schools and presented a program about work-readiness, entrepreneurship and financial literacy. Trained by Junior Achievement of Mississippi and equipped with some excellent instructional materials, I, like dozens of other volunteers, would go into classrooms and engage the students in the concepts of business. We would begin with selecting a product or a service, and then come up with a marketing plan, a budget and a strategy. The students loved it. One of my favorite sessions was always near the end of the course when, in our fictional case study, the students learned that the sales income was just the beginning of learning about finances. There were expenses to pay. You should have seen the expression on their faces when they learned that they had to pay taxes to the government. “But that's our money,” they would say.

Junior Achievement was a great program to teach kids in Mississippi about financial literacy and running a business. Sadly, Junior Achievement of Mississippi was dissolved in 2009 because of — ironically — financial difficulties. It pains me to look at the map of the United States on the national Junior Achievement website and see local chapters in just about every state in Mississippi.

State Treasurer Lynn Fitch is pushing for required financial literacy courses in Mississippi public schools. Last year, she pushed for legislation to make training in such financial basics as household budgeting, writing checks, balancing checkbooks and understanding credit card interest mandatory in public schools.

Some schools offer such courses as an elective, but very few students are enrolling.

Perhaps that has something to do with Mississippi leading the nation in payday loan shops and credit card payment delinquencies.

In 2010 the National Financial Capability Study, conducted by the FINRA Investor Education Foundation, released a survey about howAmericans manage their resources and make financial decisions. The State-by-State Financial Capability Survey, which surveyed more than 28,000 respondents, was developed in consultation with the U.S. Department of the Treasury and the President’s Advisory Council on Financial Literacy. Mississippi did not do very well in the survey. Here’s a snapshot of some of the results: » One in five households in America spent more than they took in over the past year. The figure was 23 percent in Mississippi. » In Mississippi, 66 percent of respondents reported they had no emergency funds in case of job loss, sickness or injury, compared to 60 percent nationwide. » 36 percent of people in Mississippi reported taking part in non-bank borrowing, such as taking out payday loans, which often have higher interest rates, compared to 24 percent nationwide. » Mississippi residents on average correctly answered 2.9 of five

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and webbing for parachutes and laces for the boots on the ground. American hemp defeated Hitler.

In the interest of fairness, let’s consider Mary Jane’s alternative use just in case the high-THC-advocating Cannabis Crew takes the cause for Industrial Hemp a bit too far.

Gateway drug? Sure it is, but let’s make one thing clear about drug use. Other than the fact that far too many people do it, regular use denotes a “soul problem.” It is a “soul problem” no different than regular runs to KFC or any other fast food joint, which keeps your spouse awake with your snoring and clogs up your arteries. Those unhealthy-eating “soul

1. TIM MASK: TEDx could be big for Jackson 2. Cirlot Agency celebrates turning 30 years old Phil Hardwick

financial literacy questions, slightly below the national average of three. » About 60 percent of Mississippi residents said they comparison shopped for credit cards, slightly less than the national average of 62 percent.

There are other programs in Mississippi that stress the importance of financial literacy. The Mississippi Council on Economic Education sponsors no less that eight programs that deal with the subject in some form or fashion. It even offers certification for teachers, stock market challenges and other contests to encourage participation.

One of the more impactful programs I have come across is something known as Reality Fairs, which last only one day. Although Reality Fairs require a lot of preparation, they offer an eyeopening experience for the students. Prior to the Reality Fair, students learn about various professions or occupations that are in “the real world.” They then learn about the jobs that are available in their town or region. That sets the stage for them knowing what they might earn if they landed such a job. Next they are given a sheet for them to calculate their household expenses as if they were out of school and working in that job. Then they attend the Reality Fair, which typically lasts 90 minutes and is held in the gym or some other wide open space where booths can be set up. At the booths are local business representatives who tell the students what the expenses would be for their particular situation. For example, a student decides that he or she wants to own a $40,000 pickup truck. A local automobile dealer would reveal what the down payment and monthly payment would be for such a vehicle. Or maybe the student desires to live in a $700 per month apartment. The local utility company representative would estimate the utility cost for such a dwelling. At the close of the Reality Fair, most students come away realizing that what they will earn usually does not pay for what they have to spend for such a lifestyle.

What I like about all of the above programs is that in addition to teaching about financial literacy they involve members of the community. Although there are unique schools producing career-ready students in poor communities, in general, schools are a reflection of their communities. That is why school/community partnerships are so important.

More information about the above programs can be found at the following websites: Junior Achievement – www.juniorchievement.org Mississippi Council on Economic Education – www.mcee.org Reality Fairs — www.scholastic.com/teachers/topteaching/2011/05/host-reality-fair Phil Hardwick is coordinator of capacity development at the John C. Stennis Institute of Government. Pease contact Hardwick at phil@philhardwick.com

problems” also create enormous healthcare costs for your family and your state, unless you kick the bucket-of-extracrispy right away. Then you just have to pay funeral costs.

Other “soul problems” include gambling, overspending on designer clothing, energy drinks, SEC football or over sharing on Facebook, which may be as lethal as crack cocaine. No matter, “Soul problems” such as these don’t go away when you make them illegal. If that were the case, we wouldn’t be saddled with the costly drug war and the numerous incarcerations and deaths associated with it. As Nancy Reagan said, we should teach our children, as well as ourselves, to just say “NO” when it comes to such drugs.

Because of our nation’s obsession for drug criminalization coupled with our psycho-neurotic demand for recreational

3. Officials set hunting dates for birds 4. Hospital cutting salaries, some by as much as 20% 5. Unmanned aerial vehicles a new tool for farmers

» MBJ COMMENTS ONLINE

Mississippi should do more RE: “MASK: TEDx could be big for Jackson” (August 8) ... This planet is going to need food and water. Because MS was ignored for so many years (who wants to live in apartheid?), the ecological system has not been completely raped–yet. But Barbour and Philbilly and the MDA (and many who came before them) have been giving away the state’s treasure in the form of tax breaks for anybody that wants to come in and bulldoze a forest to put up a metal buildilng and dump pollutants until their tax break ends. Jackson is a sad, seedy collection of broken concrete and asphalt where abandoned strip malls and parking lots with nothing in them are 80% of the land mass. The resulting storm runoff has killed the Pearl River, which rivals the ditches in China and India.

OK, there is a bright spot right now that you should highlight: we might get net metering. As usual, we are last–only 4-5 states don’t have it–but it might be coming soon if we all get on board to the Public Service Commission. They owe us one after Kemper. The Economic Impact Study on docket 2011-AD-2 is imminent, and then the PSC will be considering a rule, like the one on Energy Efficiency that passed in January. Yep, we DO have enough sun here for solar. (“Bright spot” and “highlight” are pure Freudian slips.)

Who was sleeping at switch?

RE: “Land may hold key to Jackson airport’s success” (August 8) ... What a great afterthought! Seriously? Really?

Are you saying this wasn’t done while Southwest Airlines was there all these years? Out of 50 states, only Mississippi and one other state doesn’t have SWA there any longer.

Whoever was in charge, hopefully is no longer in charge to even have allowed this to happen in the first place. I would imagine their had to be warnings from SWA that they were thinking about leaving the state and nothing was done to keep them. Just terrible and just one more example why my home state is last in so many things. Why has it taken Mississippi so long to get with the Program(s) and get things right?

Wake up politicians and get it right and help Mississippi grow and prosper.

drugs and our willingness to pay both top dollar and through the nose, thousands of children are crawling to our border to escape drug gangs and cartels that run much of Central America. Our nation will be burdened with this problem until our drug policy becomes a health concern and not a criminal issue.

But back to our cause: low-THC industrial hemp production for paper, textiles, construction materials and food. Mississippi needs to say “YES” and soon before Florida or Alabama lifts the banner for “King Hemp.”

David Dallas is a political writer. He worked for former U.S. Sen. John Stennis and authored Barking Dawgs and A Gentleman from Mississippi.

August 15, 2014

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ENTERTAINMENT/HOSPITALITY

Tucked away » Lakeland Music offers vintage guitars

BY WALLY NORTHWAY wally.northway@msbusiness.com

Lakeland Music holds many gems for guitarists, including this Taylor k24ce Koa, which is made of an exotic wood that grows only in Hawaii.

At first glance, there seems little that sets Lakeland Music apart from other full-line music stores. Tucked away on Lakeland Drive on the fringe of the bustling Flowood retail corridor in a nondescript gray building, if not for the words “Lakeland Music” on the front of the building, it can be easily overlooked.

Inside, it’s much the same. Rows and rows of new guitars, bass guitars, drums and pro audio equipment line Lakeland Music’s walls, and the atmosphere is surprisingly laid back for a company in the business of creating and amplifying sound.

Neat, but nothing of real note there.

However, Lakeland Music does offer something special, and it, too, is tucked away. Housed in a backroom and invisible to the average Lakeland Music visitor is a veritable treasure trove of vintage guitars, an inventory that routinely draws customers who run the gamut from local musicians to high-end investors and some of

LANDMARK

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WALLY NORTHWAY / The Mississippi Business Journal

purchaser beyond reports on the buyer’s identity and nationality. They say they are unsure whether the possible buyer represented a specific investor or group of investors.

The final bid price surprised the Hertz Investment Group, a prominent downtown Jackson office property owner which had sought to buy the 345,000-square-foot building vacated two years ago by AT&T. “We had no idea it would trade up that high,” said Jim Ingram, Hertz senior VP and chief investment officer, of the $2 million-plus sale price.

Ingram said he based his lower price estimate on the costs related to refurbishing the more than 25-year-old building, including replacing its roof.

The building at 175 E. Capitol St. went to auction after Hertz could not reach a deal with owners U.S. Bancorp.

Ingram said Hertz was among bidders on the Landmark on Auction.com, a national real estate auction website, but came up short.

Hertz, owners of 1.2 million square feet of Metro Jackson office space, wanted to buy the property in hopes of resurrecting an acquisition deal with the University of Mississippi Medical Center. UMMC backed out of a deal to buy the building for between $6.1 million and $6.5 million.

UMMC planned improvements that included a new roof. In terminating talks with the sellers, UMMC cited unforeseen costs that had arisen with other projects on its Lakeland Drive campus.

Ingram said Hertz Group sees the Landmark and the

the most prominent guitarists in the world.

“We have had Damon Johnson (Thin Lizzy, Alice Cooper) and Martin Barre (Jethro Tull) in the store,” said Keith Gin, a Lakeland Music technician. “Keith Richards (Rolling Stones) has never come in, but we have done business with him.

“Most of the customers for our vintage guitars know what they want, and they want to play them, but we get a dozen or so people every month who are simply investors. They buy with the hopes that the guitar will appreciate in value. But, most are guitarists looking for something special to play.”

The company’s lineup changes daily, but shoppers are almost certainly going to find something of interest in the room of oldies.

A current sampling includes a 1981 Gibson ES-355 and a 1937 Epiphone archtop acoustic.

“That backroom can be special,” Ginn quipped.

One customer wrote on Lakeland Music’s Facebook page, “One of the few places left in the Jackson area with a real

FILE / The Mississippi Business Journal

The Downtown Jackson Landmark Center sold at a minimum bid auction for about $2.125 million on July 31

need to have it reoccupied as vital to downtown Jackson. “I was hoping we could acquire it for a price less than $2 million and try to salvage the UMMC transaction,” he said, indicating Hertz would have passed the property on to UMMC at the price it paid.

“The UMMC deal would be huge for downtown,” he said, citing the need to bring more workers into the Central Business District and trim office vacancy rates.

world knowledge of vintage instruments...and priced to move, not inflated to retain for conversation pieces like the typical pawn shop.”

While its vintage instruments make it unique, Lakeland Music offers new equipment. According to Ginn, it is the biggest seller of Taylor guitars in the state. One gem available at Lakeland Music is the Taylor k24ce Koa. As its name implies, the acoustic guitar is made from acacia koa, an exotic wood that only grows in Hawaii.

In addition to Taylor, Lakeland Music carries Fender and Ibanez guitars; Fender and Ibanez bass guitars; amplifiers; DW (Drum Workshop), Pacific and Tama drums; Yamaha audio equipment; and accessories.

Also, Lakeland offers stage, audio and lighting rentals; service/repairs; and guitar, bass and drum lessons led by instructors, most of whom have more than 20 years of playing experience.

Lakeland Music is owned by Mark Hale, who once also owned Pro Concert in Tupelo. The greater Jackson store opened as Magnolia Music on Old Canton Road.

The name was changed to Lakeland Music when the business relocated to Lakeland Drive in 2001.

Lakeland Music is located at 5200 Mississippi Highway 25 (Lakeland Drive). The phone number is (601) 992-0089.

Steve Narish of Auction.com said the Landmark drew about double the three to five bidders similar properties draw. He attributed the interest to the minimum bid auction under which the website sold the Landmark. Unlike a reserve auction, a minimum bid auction offers bidders a high confidence the seller will accept the highest bid.

Auction.com marketed the Landmark for 45 days before auctioning it. Narish said his company can’t reveal the winning bidder until after the 30-day closing period ends on Aug. 31.

The sale price of around $2.125 million included a 5 percent premium to Auction.com, according to Narish.

Hertz had an option to buy the Landmark but let the option lapse after state officials passed over the Landmark as the new Department of Revenue headquarters.

The Landmark carried a price of just over $14 million as recently as 2011.

UMMC officials say they ceased negotiations with owners of the building after other needs arose, including the cost of moving nearly 2,000 unmarked graves from land off Lakeland Drive north of the campus needed for expansion. Also contributing was a decision not to do a public-private hotel project that would have displaced a significant number of UMMC workers on campus and created a needed for additional office space that the Landmark could fill.

The Board of Trustees of the Mississippi Institutes of Higher Learning approved the purchase of the building in November UMMC was looking to pay between $6.1 million and $6.5 million.

Two appraisals in recent years valued the Landmark building at $9.5 million and $11 million, respectively.

10 I Mississippi Business Journal I August 15, 2014 COLLEGE ATHLETICS

HEALTHCARE

Miss. fines hospital over hazardous waste handling GULFPORT — A hospital in Gulfport is paying an $87,000 fine for improperly handling hazardous waste.

Garden Park Medical Center agreed in May to pay the Mississippi Department of Environmental Quality $87,100 for violating 21 separate rules governing the storage and disposal of hazardous waste.

A May 19 order published by the department said the violations were found in an August 2013 inspection. Some violations focused on improper record-keeping and labeling, while others cited a lack of emergency planning, as well as open containers that should have been closed and improper disposal of wastes.

HCA Holdings Inc. of Nashville, Tennessee, owns the Gulfport hospital.

LAWSUIT

Tobacco company to pay $750K for contraband BOWLING GREEN, Ky. — Kentucky-based tobacco company that makes Golden Harvest, Millennium and Red Buck cigars will pay $750,000 in restitution and forfeitures after pleading guilty to conspiracy to engage in contraband cigarette trafficking.

U.S. District Judge Joseph McKinley sentenced Tantus Tobacco of Russell Springs, Kentucky, on Monday. The company will pay $200,000 to the Kentucky Revenue Cabinet in lost taxes and $60,000 to the Kentucky attorney general’s office for its assistance in the investigation. Tantus Tobacco forfeited $490,000 to the United States.

The company admitted to helping cigarette brokers Jerry Burke and Charles Wells in avoiding taxes. Burke and Wells pleaded guilty to making false statements in reports to the U.S. government and the state of Mississippi. Both were sentenced in 2011 to two years in prison.

AGRICULTURE

Scientists trying to solve ‘mystery’ behind disease LEFLORE COUNTY — LSU AgCenter plant pathologist Trey Price said soybean growers in Louisiana have been finding a fungal disease called black root rot in their crops.

“This disease started showing up here about five years ago, and we called it a mystery disease,” Price said.

The disease makes leaves turn yellow, orangebrown or mottled even though their veins remain green, said Tom Allen, an extension plant pathologist at Mississippi State University. If a plant is pulled out, much of the root will be broken off below the surface, and the main root turns black.

Cutting a stem to the pith will cause a dark brown stain on the pith, suggesting a major problem with the vascular system that carries water and nutrients throughout the plant, he wrote.

— from staff and MBJ wire services

Mississippi State athletics unveils Dudy Noble Field master plan STARKVILLE — Mississippi State Athletics unveiled the Dudy Noble Field Master Plan on Tuesday, an ambitious $40 million facility project that aims to remake the Bulldogs’ home ballpark into the finest in college baseball.

The Jackson design team of Wier Boerner Allin Architecture and national baseball stadium experts Populous, in consultation with MSU alum Janet Marie Smith, has produced the proposed Dudy Noble Field Master Plan concept. Populous has designed 20 of Major League Baseball’s current 30 ballparks, in addition to TD Ameritrade Park Omaha, home of the NCAA Men’s College World Series.

The Dudy Noble Field Master Plan calls for a new double-tiered grandstand with chairback seating, an elevated concourse that encircles the playing field and allows a constant view of the game action, welcoming entry plazas, spacious restrooms, concessions, a kids’ play area, berm seating, upgraded field lighting, HD video board, digital ribbon signage, team areas (clubhouse, training room, equipment room, coaches’ offices, etc.) and dramatically improved aesthetics.

“Mississippi State Baseball first set the standard for making college baseball games a happening, becoming one of the first schools to invest in a modern facility nearly 30 years ago,” said MSU Director of Athletics Scott Stricklin. “The new Dudy Noble Field Master Plan will provide our players, coaches and fans the best ballpark in all of college baseball.”

The timetable for the project is based on the Bulldog Club reaching its $20 million private fundraising goal.

Several premium seating opportunities will be available. The new stadium will feature approximately 50 skyboxes (25 in the main grandstand, 25 in the outfield) and club and loge seating. The outfield suites will feature two

bedrooms, a bath, kitchen and living space and will be available for use year-round.

“This is a monumental day for our baseball program, and something every Bulldog player and fan deserves,” said MSU head baseball coach John Cohen. “As a former player and now coach, I know the greatest fans in college baseball will take action to ensure our players and coaching staff have the necessary amenities and resources to recruit and compete at the highest level.”

The Dudy Noble Field Master Plan will still showcase the unique and timeless features of the previous ballpark, including the Left Field Lounge.

The outfield ‘spots’ will be built permanently into place. Each of the 86 spots will be customized to retain the traditional look of the Left Field Lounge but with access to added amenities such as electricity, storage and a common concourse connecting the entire outfield facility to the rest of the stadium. New restroom and concession areas will also be located in the renovated outfield area.

Capacity is planned to allow MSU to continue to host the largest crowds in college baseball. The new grandstand will hold more fans than the current grandstand, berm seating down each line will allow for greater general admission seating and the outfield should accommodate the same number of fans, if not more. Additionally, there will be excellent standing room views of the field surrounding the concourse that the current facility does not provide.

Mississippi State currently owns the top 10 oncampus crowds in NCAA baseball history. On April 12, 2014, Bulldog fans shattered the single-game NCAA on-campus attendance record as 15,586 fans witnessed a 6-5 MSU victory against in-state rival Ole Miss. This past spring, a school-record average of 8,127 fans attended games, breaking the mark set the previous season (7,617). In all, more than five million fans have seen a game at the stadium affectionately nicknamed “The Dude.”

— from staff and MBJ wire services

August 15, 2014

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DeSoto 6.8 Tunica 17.7

MISSISSIPPI’S JUNE UNEMPLOYMENT FIGURES

UNITED STATES Labor Force Data Civilian Labor Force Unemployed Unemployment Rate (Adjusted) Unemployment Rate (Unadjusted) Employed

Tate 10.8

May ’14 1,268,500 100,900 7.7 8.0 1,167,600

June ’13 1,306,100 124,100 8.7 9.5 1,182,000

’13 Avg. 1,286,400 110,800 XXX 8.6 1,175,700

Coahoma 14.1

Yalobusha 9.9

STATE OF MISSISSIPPI Unemployment Insurance Data •• Initial UI Claims Continued Claims Benefits Paid Weeks Paid First Payments Final Payments Average Weekly Benefit

May ’14 155,841,000 9,443,000 6.3 6.1 146,398,000

June 2014 10,7961 105,627 $14,892,673 79,048 6,052 1,534 $188.40

June ’13 157,089,000 12,248,000 7.5 7.8 144,841,000

’13 Avg. 155,389,000 11,460,000 XXX 7.4 143,929,000

May 2014 13,019 75,422 $11,102,431 58,879 3,967 1,628 $188.56

Leflore 12.9

Tishomingo 8.7

Carroll 8.6

Montgomery 10.9

Humphreys 13.4

Holmes 17.4

Monroe 11.8

Clay 18.1 Lowndes 10.1

Oktibbeha 10.1

Choctaw 10.1

Winston 12.7

Attala 11.1

Yazoo 11.5

Issaquena 15.7

Itawamba 8.8

Chickasaw 11.2

Webster 12.1

Washington 14.1

Moving Avg.** 155,483,000 10,513,000 XXX 6.8 144,970,000

June 2013 10,514 115,550 $14,905,187 80,209 5,475 1,746 $185.83

Calhoun 9.3

Grenada 8.1

Sunflower 13.9

Lee 8.4

Pontotoc 8.3

Quitman 13.8

Bolivar 10.6

Moving Avg.** 1,271,100 101,700 XXX 8.0 1,169,400

Lafayette 7.4

Sharkey 9.4

June ‘14 156,997,000 9,893,000 6.1 6.3 147,104,000

Alcorn 7.3

Tippah 10.0 Union 6.9

Tallahatchie 10.6

June ‘14 1,280,100 112,000 7.9 8.7 1,168,100

Benton 11.0

Prentiss 9.4

Panola 11.5

Labor force and employment security data STATE OF MISSISSIPPI Labor Force Data Civilian Labor Force Unemployed Unemployment Rate (Adjusted) Unemployment Rate (Unadjusted) Employed

Marshall 9.8

Leake 9.6

Neshoba 6.7

Scott 6.2

Newton 7.8

Noxubee 17.4

Kemper 14.8

Madison 6.4 Warren 9.5 Rankin 5.1

Hinds 8.1

Claiborne 15.4

Copiah 9.4

Jefferson 16.0 Adams 9.3

Wilkinson 11.6

Franklin 9.9

Lincoln 8.1

Amite 9.4

Pike 10.0

Covington Jones 7.1 6.4

Walthall 10.7

Rates

5.1 - 6.8 6.9 - 9.9 10.0 - 15.4 15.5 - 18.1

— Mississippi Department of Employment Security

Marion 9.9

Lamar 6.2

Pearl River 8.5

Hancock 8.1

Clarke 9.6

Wayne 10.5

Lawrence Jeff Davis 9.9 11.2

Unemployment Rates Unem

** Average for most recent twelve months, including current month •• Unemployment Insurance amounts presented in this section only represent regular UI benefits, federal program amounts are not included.

Labor force amounts are produced in cooperation with the Bureau of Labor Statistics.

Note: Unless indicated state and county data presented are not seasonally adjusted.

Jasper 9.9

Smith 7.7

Simpson 7.4

Lauderdale 8.4

Forrest 8.4

Perry 9.0

Stone 8.7

Harrison 7.8

Greene 10.4

George 10.2

Jackson 8.7

Source: Labor Market Data Publication June 2014 Design: Labor Market Information Department, MDES

ENERGY DEVELOPMENT

POLITICS

Congressman Nunnelee had stroke during surgery TUPELO — Mississippi Congressman Alan Nunnelee says he had a stroke two months ago while undergoing surgery to remove a brain tumor.

The 55-year-old Republican from Tupelo revealed the information about the stroke in an online newsletter and a Facebook post Sunday.

Nunnelee spokeswoman Elizabeth Parks says it is the first time the congressman has publicly discussed the stroke. His office has said for weeks that he has been undergoing therapy for difficulties with speech and left-side mobility.

Surgeons at the University of Texas M.D. Anderson Cancer Center in Houston removed a small mass from Nunnelee’s brain June 9. He is undergoing radiation and chemotherapy at Johns Hopkins Outpatient Center in Baltimore, Md. Nunnelee was first elected to Congress in 2010 and is running again.

— from staff and MBJ wire services

Money will run out next month, KiOR says COLUMBUS — Struggling biofuel firm KiOR says in a financial filing that it will run out of money by September and that bankruptcy could follow.

The company, which built a refinery in Columbus to turn wood chips into synthetic oil, owes Mississippi $69.4 million. The Mississippi Development Authority has agreed to delay payments until the end of October to give KiOR time to raise new money or sell the company. Investment bank Guggenheim Partners was hired by KiOR, based in Pasadena, Texas, to seek a buyer or new investors.

“Without additional financing the company will be unable to fund its operations and meets its obligations past approximately September 30, 2014,” KiOR stated in a Monday stock filing.

KiOR said it lost $24.4 million, or 22 cents per

share, in the three months that ended June 30. That’s down from a loss of $38.5 million in the same three months of 2013, or 36 cents per share, as the company cut expenses.

The company had $544,000 in cash on July 31.

Entities controlled by billionaire backer Vinod Khosla have been lending the company enough money to stay alive, in order to “preserve, protect and prepare for the sale or disposition of the company’s collateral” and to “enhance the likelihood and maximize the amount of repayment” of existing debts.

Debt actually fell to $250 million, as a lender wrote off nearly $39 million that the company owed. The company has spent a total of $629 million since it was founded, but says it would need to raise as much as $60 million to keep going for

EDUCATION FUNDING

UM sets new fundraising record with $118M-plus in private support OXFORD — With more than $118 million in private support, the University of Mississippi again experienced a record fundraising year.

“The commitment of our alumni and friends is truly inspiring,” UM Chancellor Dan Jones said. “On the Oxford campus alone, our generous donors committed

another 12 months, even if it didn’t try to restart operations in Columbus.

KiOR told the Mississippi Department of Employment Security last month that it plans to lay off another 15 employees in Columbus by the end of this week. The company already laid off 13 employees there and has said it’s reducing employment as it shuts down operations there.

KiOR has said Guggenheim should complete its work by Oct. 31, the same time that KiOR’s forbearance agreement with Mississippi runs out.

Under it, KiOR paid $250,000 to the Mississippi Development Authority and MDA allowed KiOR to delay a $1.9 million payment on KiOR’s no-interest loan from the state.

— from staff and MBJ wire services

more than $6 million for new named faculty positions. We are fortunate to have alumni and friends so actively engaged in the life of the University of Mississippi that when there are needs, they respond at generous levels. This is beneficial not only for transforming individual lives but also for society in general.”

Cash gifts of all sizes to the university combined for nearly $90 million, with new pledges receivable in future years adding up to more than $25 million. Donors committed $2 million in planned and deferred gifts. Alumni and friend participation increased 4 percent, and the number of gifts rose from 37,000 in 2013 to 42,000 in fiscal year 2014.

— from staff and MBJ wire services

NEWSMAKERS

12 I Mississippi Business Journal I August 15, 2014

Welch presented award

UMMC chooses Gillespie

W. Scott Welch of Baker Donelson was recently presented with the Mississippi Bar's Lifetime Achievement Award, an award given to an individual who has demonstrated devoted service to the public, profession, and the administration of justice over the span of a professional career. A shareholder in the firm's Jackson office, Welch is a civil trial lawyer who has served as president of The Mississippi Bar, as national president of the American Board of Trial Advocates (ABOTA) and as a member of the American Bar Association Board of Governors and House of Delegates for many years. He is a Fellow of the American College of Trial Lawyers and the Litigation Counsel of America, and was among Lawdragon's 500 Leading Lawyers in America for five consecutive years. In 2012 he was recognized with the Mississippi Defense Lawyers Association Lifetime Achievement Award and as the University of Mississippi law Alumnus of the Year. He has been recognized by Best Lawyers in America since 1995, and was named the Best Lawyers' Jackson, Mississippi Personal Injury Litigator of the Year in 2011 and 2014. Welch has also been included in Chambers USA: America's Leading Business Lawyers since 2004 and in Mid-South Super Lawyers, where he has been listed among the Top 50 attorneys in Mississippi since 2006.

He is a member of a number of professional organizations and has served on numerous committees and commissions and as a member of the board of directors of Harbor House of Jackson Inc.

Terri Gillespie, a veteran nursing leader and Children’s of Mississippi chief nursing and clinical services officer, has been named the University of Mississippi Medical Center’s chief nursing executive officer and chief nursing officer of the adult hospitals.

Effective Sept. 1, she will succeed Dr. Janet Harris, who will move to a full-time role as associate dean for practice and community engagement in the School of Nursing, a title she has held since January.

Gillespie has more than 31 years of nursing experience, most of it with UMMC. She holds a bachelor of science in nursing from East Carolina University in Greenville, N.C., and a master of science in nursingexecutive track from the UMMC School of Nursing.

She is enrolled in the doctor of nursing practice program at the School of Nursing.

During her tenure at UMMC, Gillespie has worked as a staff nurse in the adult emergency department, nurse manager in the surgical intensive care unit and post anesthesia care unit, clinical director of adult critical care, and operations director of the eICU, the first electronic intensive care unit in the state.

Gillespie has championed organ donation awareness, transplantation and training in end-of-life care during her career. She is a member of the Mississippi Nurses Association, the American College of Health Executives, the American Association of Critical Care Nurses and the Children’s Hospital Association.

CMMC promotes Monroe Central Mississippi Medical Center has promoted Kelvin Monroe of Madison to assistant chief financial officer. Monroe, who has worked with CMMC for over three years, previously served as controller for both the hospital and its clinics. Additional recent responsibilities include oversight of major system rollouts and infrastructure upgrades while serving as interim information systems director.

Monroe A licensed CPA, Monroe worked as a senior accountant with BKD, LLP in Jackson before coming to CMMC. He also has accounting experience in insurance, state government and banking. The Alabama Society of CPA’s selected him as a participant in their Leadership Academy IV. Monroe holds his MBA and his bachelor’s degree in business administration from Mississippi State University in Meridian. He has his associate’s degree in accounting from East Mississippi Community College in Scooba.

Coleman earns nomination Dianne Coleman, assistant to dean Dr. Michael Forster for recruitment and special projects at the University of Southern Mississippi’s College of Health, was recently nominated for the Mississippi Organ Donor Recovery Agency’s (MORA) Donation Advocate Spero Award. The Spero Awards recognize hospital partners, medical professionals, corporate partners, funeral home directors, coroners, volunteers and donor advocates.

Coleman serves as advisor and mentor for the College of Health Ambassadors. The Ambassadors are student leaders who volunteer to represent and promote the college.

Firm promotes accountants Haddox Reid Eubank Betts, PLLC has promoted four of its accountants. Traci Forrest, CPA, has been promoted to senior manager. She is a graduate of Mississippi State University. Her experience includes income tax planning and compliance for business, individuals, trusts and estates.

Katie Hoggatt, CPA, has also been promoted to senior manager. She is a graduate of Mississippi College. She specializes in income tax planning and compliance services for physician practices, non-profits, and high net worth individuals.

Alison Howell has been promoted to senior accountant. She received a bachelor of account-

Forrest

Hoggatt

Howell

ancy and a master of professional accountancy from Mississippi State University. She works in the firm's audit division.

Kevin Jackson, CPA has been promoted to senior accountant. He holds a bachelor of accountancy and master of professional accountancy from Mississippi State University and works in the firm's audit division.

Zachary Ring, CPA has also been promoted to senior accountant. He holds a bachelor of accountancy and master of professional accountancy from Mississippi State University and works in the firm's audit division.

Jackson

Ring

Clinic welcomes Stewart

Collier, Mahaffey added to staff

USM makes administration moves

Jennifer S. Stewart, CNP, recently joined Hattiesburg Clinic Urology as a nurse practitioner. She earned her bachelor of science in nursing through the University of Southern Mississippi and her master of science in nursing from the University of Mississippi Medical Center.

Stewart is certified by the American Academy of Nurse Practitioners.

People Lease and Account Services Group have added two new staff members. Dita Collier and Penny Mahaffey add several years of customer service experience to the People Lease family of companies.

Dita has a bachelor’s degree in business administration and international business from Mississippi State University and bachelor of arts degree in Spanish. She has over 15 years’ experi- Collier ence with all aspects of accounting.

Mahaffey has joined Account Services Group with over 10 years’ of hands-on insurance experience. She has a bachelor’s degree in business administration and marketing from Mississippi State. Her areas of expertise includes, but are not limited to, commercial insurance marketing Mahaffey and insurance consulting.

Several administrative changes have taken place in the College of Business at the University of Southern Mississippi for the start of the 2014-2015 year. Dr. Bret Becton will serve as the college’s associate dean after Dr. Joe Peyrefitte returned to a faculty position. Becton will be in charge of operations and accreditation for the College of Business.

Dr. Mike Wittmann is now serving as both the chair for marketing and the interim chair of management. Dr. Lisa Flynn, the former marketing chair, has returned to a full-time faculty position in the department. Dr. Dave Duhon, the former management chair, retired after more than two decades of service to Southern Miss and the College of Business.

Dr. Gwen Pate accepted the position of the director of the School of Accountancy, which became open following the retirement of Dr. Skip Hughes. Pate was formerly the associate dean of Undergraduate Programs and Assessment. That position will now be filled by Dr. Brigitte Burgess, who served as the merchandising coordinator for the last seven years.

Stewart

Robinson awarded internship Beard + Riser Architects, PLLC, has added a new intern architect, Austin Robinson, who will join the firm for a year-long paid internship. Robinson is on track to complete his architecture degree at Mississippi State University in Spring 2015. Robinson brings Autodesk Revit, AutoCAD, Photoshop, InDesign and Illustrator skills to the firm. He comes to Beard + Riser with experience working for Cunning- Robinson ham Architects in Dallas, Texas.

Robinson was born in Shreveport, Louisiana, but has lived in Florence most of his life.

PTs recognized by APTA Singing River Health System (SRHS) has two physical therapists that have recently been recognized as board certified specialists for orthopedic rehabilitation by the American Physical Therapy Association (APTA). Brandon Cloud, PT, OCS, and David Greer, DPT, OCS, were awarded the board certified orthopedic specialty in June.

MMI brings in Warner Jack A. Warner has been named director of strategic partnerships at MMI Hotel Group. Warner comes to MMI with over 10 years of hotel operations experience. He has served as a leader in a variety of hotel settings including franchised and independent; select-service and full-service; urban and rural communities. Additionally, Warner is a graduate of Purdue University’s hospitality and tourism manageWarner ment program.

Harrington joins team Zack Harrington has joined the Mississippi State University fundraising team as assistant director of development for the university's College of Business. A Hattiesburg native and MSU alumnus, he holds two degrees from the college — a 2009 bachelor's in business administration with an emphasis in real estate mortgage finance and 2010 master's in sport administration.

As an undergraduate, Harring- Harrington ton was a quarterback during the 2006 and 2007 seasons for the Bulldog football team.

For announcements in Newsmakers; Contact: Wally Northway (601) 364-1016 • wally.northway@msbusiness.com

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AN MBJ FOCUS: BANKING & FINANCE

19

MBA turns 125 1817 » Mississippi becomes the 20th state in the Union on Dec. 10.

1837

1890

» First Great Depression in America begins. Banks close, including Mississippi’s Planters’ and Agricultural Banks.

» MBA adopts a resolution opposing state legislation taxing bank assets at higher rate than other property.

1850-1880 » By the end of the Civil War, Mississippi, like all southern states, is physically and financially devastated. Only a handful of Mississippi banks are operating.

»L sta ban sio lish Ba the

19

»T cre sta eco

1809

1818

1822

1830

1833

1840

1888

1893

190

» The Bank of Mississippi is the first bank established in the Mississippi Territory.

» Mississippi becomes a partner in The Bank of Mississippi and the name is changed to The Bank of the State of Mississippi.

» Mississippi state capital moves from Natchez to Jackson.

» Mississippi General Assembly charters the Planters’ Bank.

» Mississippi General Assembly charters the Agricultural Bank. » The first bank office in Jackson is established by Planters Bank of Natchez.

» Most of the states’ banks are insolvent, impairing Mississippi’s credit and tarnishing its image.

» Legislature passes the state’s first banking laws. Amid a rapid surge in state charters, banks see a need to band together.

» MBA creates districts or groups and begin discussing the idea of state bank supervision.

» Mi grow 1900 spur ture tiona

1889 » On May 22, bankers convene in Jackson to organize the Mississippi Bankers Association.

R d

By m

A

10 sp ti nu

C B th w w re to Photos courtesy of Mississippi Bankers Association

BNA Bank began in 1896 as the Bank of New Albany. This photo is from about 1903.

ca

August 15, 2014 • MISSISSIPPI BUSINESS JOURNAL • www.msbusiness.com

NCE

5

osing sets at

es

egin e

sion.

n

1914

1918-1920

1934

1950

» Legislature passes the state’s first significant banking statutes. Provisions include the establishment of the State Banking Department and the State Guaranty Fund

» During World War I, commodity prices are high and Mississippi prospers. Following the war, bank conditions become unsound when commodity prices fall.

» The Mississippi Banking Act authorizes branch banks and reorganizes the State Banking Department. Superintendent of Banks is replaced by a State Bank Comptroller.

» The MBA establishes the Junior Banker section. » Mississippi banker Orrin Swayze becomes the founding director for the new School of Banking of the South.

1908 » The boll weevil creates havoc in state’s agricultural economy.

1921

1929

» Severe depression strikes the U.S. Many banks fail.

» Oct. 28 stock market crash.

1941-45 1933 » President Roosevelt declares a national “bank holiday.” All banks close. Three weeks later, 137 state banks and 18 national banks in Mississippi reopen. » Federal Bank Act is enacted.

1924 1913 1900-1910 » Mississippi banks grow from 117 in 1900 to 328 in 1910, spurring the Legislature to prohibit additional branch banks.

» Congress establishes the Federal Reserve System.

» James S. Love, Sr. becomes Mississippi’s first Superintendent of Banks.

1922

» Total assets of Mississippi’s banks grow to $826 million. » MBA membership reaches an all-time high.

1986

1995

» Mississippi legis- » MBA, Mississippi League of lature enacts Savings Institutions merge. statewide branching, interstate bank2010 ing laws. » Congress passes Dodd Frank Act, which 1985 includes hun1983 » 120 banks fail dreds of new » MBA relocates to nationwide. regulations. new headquarters 1987-1989 in Jackson. » FSLIC becomes in- 2012 » MBA estabsolvent, 223 S&Ls 1957 lishes Educaand a record 206 » The MBA Chair tion banks fail; FDIC sufof Banking is esFoundation. fers loss. Congress tablished at the enacts FIRREA and University of Mis2014 OTS is created. sissippi. » MBA celebrates 125th anniversary.

» The Mississippi legislature passes an act to reorganize the State Banking Department.

Regulation, technology driving consolidation

By BECKY GILLETTE mbj@msbusiness.com

A

S THE Mississippi Bankers Association celebrates its 125th anniversary this year, the number of banks in the states has decreased from about 165 to fewer than 100 in the past 30 years, and the spiraling growth of bank regulation could possibly reduce that number even farther.

Freddie Bagley, chairman of Community Bancshares Inc., of Brandon and current chairman of the MBA, said banking trends towards consolidation combined with changes in technology that require fewer tellers to service customers will continue in the future.

Bagley said the smaller banks can compete by offering the same

technology as big banks, and having available the capability for online banking, electronic deposit and transfers, and mobile check deposits is critical.

“Our position is you need to have the latest technology or you are going to lose the next generation,” Bagley said. “You must look at how customers bank, and the newcomers and young folks don’t visit branches as much as older folks. This is leading to more technology, fewer banks, and fewer locations.”

While technology improvements cost banks money, Bagley said what is really hurting the banking industry is changing the rules by requiring higher amounts of capital and more rules for compliance.

See

MBA, Page 18

The Bank of Tupelo started in 1876 as a small bank in a hardware store in Verona.

Ten years later, it moved to Tupelo. It later became Bank of Mississippi, and it took the BancorpSouth name in 1999.

Hancock Bank was founded as Hancock County Bank in 1899 in Bay St. Louis.

Timeline source: Mississippi Bankers Association

BANKING & FINANCE

16 I Mississippi Business Journal I August 15, 2014

» Trustmark’s

Looking for heroes

By LYNN LOFTON mbj@msbusiness.com

T

RUSTMARK BANK is recruiting heroes for its military internship program. The bank recognizes the desirable work traits of those who have served in the armed forces and honors their commitment to service.

“We are proud to express our gratitude and exercise our commitment to military

military internship program helps military veterans make transitions

service by offering professional assistance to former and current military service members through this program,” said Rebecca Vaughn-Furlow, human resources director for Trustmark.

One internship session is complete, and the recruiting window recently closed on the second class. Recruitment for the spring 2015 class begins in November.

Visit the Trustmark website (trustmark.com/military) for details.

This 12-week paid internship provides

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job training, networking opportunities and professional development to military retirees and separatees, as well as active reservists and current members of the National Guard who apply for and are selected to participate in the program. Each intern has two Trustmark employees who act as mentors, providing professional guidance and coaching throughout the program. The goal is to afford each intern an opportunity for professional growth while he or she learns more about Trustmark and its opportunities.

“Trustmark is always Vaughn-Furlow looking for opportunities to support our community, including our military members who have returned home after giving their time to serve our country,” Vaughn-Furlow said.

“The executive team of Trustmark shared a vision for supporting and honoring our military members by providing them with an internship program that allows them to utilize their talents, abilities and valuable skills developed in the military, while also honing their skill sets to better prepare them for a transition into the work place.”

She points out that military men and women are individuals with high integrity and an outstanding work ethic who are disciplined and have worked hard – traits that make them desirable employees.

Trustmark employee Jackie Taylor is serving as a mentor for the interns because she thinks it’s important for businesses to create initiatives to support the community’s military members.

“Having worked in the military and professional environments, I understand that the transition back to civilian work places can be a challenge,” she said.

“As one of the associates serving as a mentor, I hope we will be able to help them develop the confidence to realize how much they already have to offer the

professional world while recognizing how they can adjust their focus to see how they can be an integral part of helping the company achieve its mission.”

Interns participate in up to three fourweek long departmental rotations that are assigned based on their professional skills, educational background and personal interests. The goal is to afford each intern an opportunity for professional growth while he or she learns more about Trustmark and its career opportunities.

Vaughn-Furlow says feedback about the program has been positive. “The interns have been grateful to Trustmark for providing a well-put-together program that truly benefits them,” she said.

“Several have mentioned that this program surpassed other programs they have seen provided by the government or other businesses.”

One intern, Robert, said “This is the first place where people truly cared about me and how I feel.”

Each department of the bank that hosted a military intern gave great feedback, Vaughn-Furlow added.

“They were able to utilize the interns for important projects as well as every day tasks,” she said. “The jobs done by each intern were impressive and far surpassed our need. Several departments did not want to let their interns leave at the end of their rotation because they were doing such great jobs. This fulfilled our goal of finding each intern a full-time job which is what we were hoping to accomplish with the program.”

Trustmark advertises the program on billboards, poster and in newspapers along with sending human resources recruiters to veterans’ job fairs to recruit in person. The program is also posted on the bank’s careers website.

Once applications are reviewed for qualifications, candidates are contacted for interviews to begin the selection process.

This year’s fall program is scheduled to begin Sept. 2.

BANKING & FINANCE

August 15, 2014

I

Mississippi Business Journal

I

17

Retirement age decision becomes more difficult Why do some people choose to claim Social Security retirement benefits at the earliest possible age of 62, rather than waiting until their full retirement age (66 to 67 for anyone born in 1943 or later) when doing so would reduce their monthly benefit by as much as 30 percent? Well, there actually are many reasons, according to new data from a General Accounting Office report titled, “Challenges for Those Claiming Social Security Benefits Early and New Health Coverage Options,” including work-related and demographic factors.

The first reason starts with the type of industry American workers choose. A study compared workers in a variety of positions and industries — farming, construction, sales, professional, and Ike Trotter managerial, among others — and found that blue-collar workers were much more likely to claim early retirement benefits than others. This may be due to the fact that blue-collar work is typically more physically demanding, and therefore progressively harder as people age.

For example, 54 percent of men in farming jobs claimed benefits at age 62, compared with just 26 percent of men in managerial positions. Eight out of 10 male farmers claimed their benefits before reaching full retirement age, compared with a little more than half of all managers, both male and female. Incidentally, the study did not report findings as they might concern female farmers.

A second reason could be because of one’s employment status. Studies show there can be significant differences in and around the timing of claims.

Full-time workers were approximately 30 percent less likely to claim early. By contrast — and perhaps not surprisingly — those who said they were retired or unemployed were more likely to tap their Social Security early.

Interestingly, those with long work histories — at least 35 years of earnings — were 38 percent more likely to claim their benefits early than were those with shorter work spans.

Additionally, there were other factors that contributed to early claims of benefits: » Education: Those with less than a college degree were 23 percent more likely to claim early than were those with at least a college education. » Marital status: Widowed individuals were generally more likely to claim their benefits before reaching full retirement age compared with married, divorced/separated, or partnered couples. » Life expectancy: Those who thought they had a strong chance of living past age

75 were significantly more likely to delay their benefits when compared to those with lower longevity expectations.

All these factors being raised, there are definite financial benefits of waiting. According to the GAO’s research, delaying Social Security resulted in a stronger financial position in retirement. Households with an individual who delayed benefits until at least full retirement age received a median income that was 45 percent higher

than households who took benefits early.

Similarly, total wealth in households where someone delayed benefits until at least full retirement age was 25 percent higher than in households with someone who claimed early.

One reason many begin drawing down social security retirement benefits before at early pertains to a growing disillusionment of social security. That being, many figure it’s better to draw down what can be

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had before the whole system goes broke.

You won’t find that in the GAO report but, unfortunately, it’s real and, increasingly, is becoming a growing cause of cynicism to many who plan to retire in the next few years. One of these days, Washington, D.C., will have to pay notice of this.

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BANKING & FINANCE

18 I Mississippi Business Journal I August 15, 2014

MBA

Continued from Page 15

Mac Deaver, president of the Mississippi Bankers Association, agrees. “The spiraling growth of bank regulation continues to provide a serious challenge for our member banks,” Deaver said. “Unfortunately, banking regulation is often written in response to problems created by forces outside of traditional banking. But these regulations create obstacles, burdens and costs that hurt community banks.”

The one-size-fits-all regulations often come between the bank and its customers, Deaver said. Sometimes these regulations make it prohibitive for community banks to continue to offer the credit and other services that their customers rely on.

“In some cases, products and services that have benefited customers and proven successful for banks have been discontinued,” Deaver said. “This hurts the individual citizens and businesses in the communities served by these banks. Of course, Mississippi banks’ success is tied to the prosperity of their communities. Such changes that result from onerous regulations create lose-lose situations for banks and their customers.”

Consolidation of banks has already created difficulties.

“The falling number of banks, in itself, creates challenges to the association in providing value and meaningful representation, products and services to our membership,”

Photos courtesy of Mississippi Bankers Association

The Bank of Commerce opened in Greenwood in 1904.

Deaver said. “The MBA faces the challenge in representing the interest of its members — traditional community banks — in seek-

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ing to impact government policy toward banks and in assisting banks in dealing with regulations already on the books. Additionally, our member banks face unprecedented competition from many different entities using many different delivery systems.

Making full and effective use of technology is a growing challenge for all banks.”

While the MBA’s activities have changed over the past 125 years, its basic mission has not. But Deaver said all of the changes taking place in the industry require that they adapt to meet the changing needs of their members, just as the banks are changing to meet the needs of their customers.

“Our association and its leadership believes that our system of community banking — which is unique in the world — has played a vital role in the success of our nation,” said Deaver, who has served as president of MBA for more than 20 years. “This has been especially true in Mississippi, where our citizens and communities depend on the local bank as a source of credit and other financial services, plus support for community activities. Successful banks are partners in the economic development of their communities and the prosperity of their customers. This is the lifeblood and mission of community banks.”

Traditional banking is, in many ways, under attack. “The MBA is committed to working to help these banks continue to serve and succeed,” he said. “While banking has changed in many ways, and will continue to do so, it remains a people business. Personal involvement of bankers in the lives of their customers is an important part of the successful communitybanking model. The MBA is dedicated to

working to preserve this important aspect of banking.”

“We have long-term relationships with our customers,” said Odean Busby, executive chairman of PriorityOne Bank of Magee, and immediate past president of MBA. “We are fortunate that we know many of our customers. We relate to our general population in Mississippi very well.

You can look back through that all 125 years of our history and where we are today has truly been built on good, strong relationships. We understand the marketplace where we do business.

“Fortunately, Mississippi banks have enjoyed good performance over the years.

Mississippi banks are strongly capitalized, and they are profitable. Their interest is serving their communities. The better we can serve our communities, the better our communities do.”

Community banking has played a vital role in the success of the U.S., and especially Mississippi, where citizens and communities depend on the local bank as a source of credit and other financial services, plus support for community activities.

“Successful banks are partners in the economic development of their communities and the prosperity of their customers,” Deaver said. “This is the lifeblood and mission of community banks. With the support of our membership, we see a bright future for our association.”

The MBA has published a special anniversary issue of The Mississippi Banker that includes many historical articles and photographs, including articles on every bank in the state. It is available online at www.msbankers.com. Hard and soft copy editions of the publication can be purchased

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20 I Mississippi Business Journal I August 15, 2014

BANKING & FINANCE

Acquisitions could impact BancorpSouth earnings

By TED CARTER ted.carter@msbusiness.com

Delays BancorpSouth has encountered in acquiring banks in Louisiana and Texas recently led Sterne Agee to lower earningsper-share estimates through 2015 for the $13 billion publicly owned Tupelo bank.

Analyst Peyton Green said the delays could cause BancorpSouth’s EPS for 20142015 to drop by about 5 cents. Green based

his projection on the loss of an earnings bump the acquisitions, which he termed “attractively” priced, would bring.

Federal regulators have cited Secrecy Act compliance concerns in declining to approve Bancorp South’s acquisitions of Ouachita Bancshares Corp. of Monroe, La., which owns Ouachita Independent Bank, and Central Community Corp., of Temple, Texas, which owns First Bank of Central Texas.

When the acquisitions were announced

y

in January, BancorpSouth said it would pay $115 million in stock and cash for Ouachita Bancshares and $210.8 million in stock and cash for Central Community. BancorpSouth said the two banks, whose stockholders have approved the sales, have extended the deadlines for the purchases until June 30, the Associated Press reported.

BancorpSouth said the purchase of Ouachita Bancshares would consist of 3.67 million of its shares and $22.8 million in

cash. The Central Community transaction would be for 7.2 million shares of BancorpSouth and $28 million in cash.

BancorpSouth said in a July news release that in addition to more time to gain regulatory approval, it and the banks to be acquired need more time to satisfy closing conditions.

In the same release, BancorpSouth said federal bank regulators have found problems with its compliance with the Bank Secrecy Act and programs to fight money laundering. BancorpSouth also said the federal Consumer Financial Protection Bureau is reviewing the bank’s fair lending practices.

Sterne Agee’s Green said the regulatory concerns may weigh on BancorpSouth’s shares, though he noted the regional bank’s second quarter results reflect steady progress. “The shares will likely trade sideways to lower, given the regulatory-related delay in closing attractively priced acquisitions,” Green said in his report.

“Our 2014E and 2015E EPS could move lower by approximately $0.05 given our best guess about the closing delays.”

The EPS estimates assumed the purchases of Ouachita Bancshares and Central Community Corp. would close on July 1 and Oct. 1 and reflect an EPS gain of 8 cents and 22 cents.

Analysts polled by FactSet had estimated 33 cents per share, on average. The banking company hit that mark once merger expenses were screened out, the Associated Press reported. BancorpSouth also met analysts’ expectations with an EPS of 30 cents in the first quarter and 29 cents in the second quarter of 2013.

Chairman and CEO Dan Rollins said BancorpSouth is disappointed in the delay in being able to close the transactions. “We are working diligently to resolve the compliance concerns that have been identified and to make the necessary improvements in our compliance programs,” he said.

BancorpSouth said profit for the three months ending on June 30 rose 49 percent from 2013’s second quarter, hitting $30.9 million, compared with $20.8 million in the year-ago quarter.

Acquisition of Central Community Corp. will give BancorpSouth ownership of metro Austin’s largest independent community bank and expands its footprint into central Texas. Central Community Corp.’s First Bank of Central Texas has 31 locations and a 0.03 percent share of Texas deposits. Its acquisition will move BancorpSouth from 65th to 29th in Texas deposit share.

The acquisition of Monroe-based Ouachita Bancshares will move BancorpSouth’s pro forma market share in Louisiana from 11th to 7th based on FDIC market share data and give it a significant presence along the Interstate 20 corridor.

BancorpSouth’s Monroe locations will increase from four to 10. In Shreveport, the Mississippi bank will add 4 Ouachita locations to the seven now there.

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August 15, 2014

Address

Phone

I

Mississippi Business Journal

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21

Website

1st Mississippi FCU

600 19th Ave., Meridian, MS 39301-5207

(601) 693-6873

www.1stmsfcu.com

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40036 Kerr-McGee Rd., Hamilton, MS 39746

(662) 343-8793

N/A

B&W Mississippi Employees FCU

310 Commerce St., West Point, MS 39773

(662) 494-7473

N/A

BenchSmart FCU

803 E. 15th St., Yazoo City, MS 39194-7607

(662) 746-0048

www.benchsmartfcu.com

Biloxi Teachers FCU

1445 Father Ryan Ave., Biloxi, MS 39530

(228) 436-5126

www.biloxischools.net

Brightview FCU

713 S. Pear Orchard Rd., Ste. 101, Ridgeland, MS 39157

(601) 977-9468

www.brightviewcu.com

Camp Shelby FCU

Warehouse Ave., Bldg 82, Camp Shelby, MS 39407-0001

(601) 544-5421

www.campshelbycreditunion.us

Central Mississippi FCU

101 S. Central Ave., Winona, MS 38967

(662) 283-4781

N/A

Central Sunbelt FCU

1506 Congress St., Laurel, MS 39440-4239

(601) 649-7181

www.sunbeltfcu.org

Choctaw FCU

203 Choctaw Town Center, Philadelphia, MS 39350

(601) 656-0055

N/A

Citizens Choice FCU

101 St. Catherine St., Natchez, MS 39120-3624

(601) 442-5888

www.citizenschoice.org

Coastal CU

676 Dr. Martin Luther King Jr. Blvd., Biloxi, MS 39530

(228) 432-0284

N/A

Columbus Municipal CU

1968 6th St. N., Columbus, MS 39701

(662) 327-3030

N/A

Copiah-Lincoln Education FCU

1028 JC Redd Dr., Co-Lin Commmunity College, Wesson, MS 39191

(601) 643-8421

N/A

Credit Union South

400 Veterans Ave., Bldg. 18, Biloxi, MS 39531-2410

(228) 388-5040

N/A

Delta CU

1385 E. Reed Rd., Greenville, MS 38703

(662) 332-7184

N/A

Elevator CU

8279 Frontage Rd., Olive Branch, MS 38654

(662) 895-2964

N/A

Ellisville State School FCU

1101 Hwy. 11 S., Ellisville, MS 39437-4444

(601) 477-5635

N/A

EPA CU

665 Highland Colony Pkwy., Ridgeland, MS 39157-8720

(601) 605-8600

N/A

Ferguson FCU

577 N.A. Sandifer Hwy., Monticello, MS 39564

(601) 587-4037

www.fergusonfcu.org

First Neshoba FCU

547 Main St., Philadelphia, MS 39350

(601) 656-1183

www.fnfcu.org

First Unity Federal Credit Union*

122 5th Ave., McComb, MS 39648

(601) 680-4419

N/A

FMC Employees FCU

2730 Hwy. 145 S., Saltillo, MS 38866

(662) 869-7552

N/A

Forrest County Teachers FCU

611 Dumas Ave., Hattiesburg, MS 39401

(601) 584-7331

N/A

Forrest-Petal Education FCU

400 Forrest St., Hattiesburg, MS 39401-3455

(601) 545-6068

N/A

Gulf Coast Community FCU

12364 Hwy. 49, Gulfport, MS 39503-2741

(228) 539-7029

www.gulfcoastcommunityfcu.org

Harrison County Post OfďŹ ce Employees FCU

1948 E. Pass Rd., Gulfport, MS 39507

(228) 896-0038

N/A

Hattiesburg-Laurel FCU

3205 Hardy St., Hattiesburg, MS 39401-7060

(601) 583-6938

www.hlfcu.com

HealthPlus FCU

500-H E. Woodrow Wilson Dr., Jackson, MS 39205

(601) 354-6633

www.mphwfcu.com

HOPE FCU

4 Old River Pl., Ste. A, Jackson, MS 39202-3434

(601) 713-0974

www.hopecu.org

Hospital System CU

2533 Denny Ave., Pascagoula, MS 39567-2412

(228) 762-0659

www.hospitalsystemcu.com

Issaquena County FCU

111 Cedar St., Mayersville, MS 39113

(662) 873-4393

N/A

Jackson ACCO FCU

1085 Hwy. 80 W., Jackson, MS 39204

(601) 960-5240

N/A

Jackson Area FCU

5675 Hwy. 18 W., Jackson, MS 39209

(601) 922-7055

www.jacksonareafcu.com

JPFCE FCU

600 E. McDowell Rd., Jackson, MS 39204

(601) 559-6100

N/A

Junior College FCU

Darby Hall, Perkinston Campus, Perkinston, MS 39573

(601) 928-6336

N/A

Keesler FCU

2602 Pass Rd., Biloxi, MS 39531

(228) 385-5500

www.kfcu.org

Magnolia FCU

240 Briarwood Dr., Jackson, MS 39206-3027

(601) 977-8300

www.magfedcu.org

MBHS FCU

1225 N. State St., Jackson, MS 39202-0235

(601) 968-1213

www.mbhsfcu.org

McComb FCU

913 Delaware Ave., McComb, MS 39648

(601) 684-7764

www.mccombfcu.org

Members Exchange CU

107 Marketridge Dr., Ridgeland, MS 39157

(601) 922-3350

www.mecuanywhere.com

Memorial FCU

4500 Thirteenth St., Gulfport, MS 39501

(228) 865-3142

N/A

Meridian Mississippi Air National Guard FCU

6503 M St., Meridian, MS 39307

(601) 483-7307

www.meridianangfcu.org

* The National Credit Union Administration approved the charter First Unity Federal Credit Union in July. The announcement gave August 2014 as the target opening Source: Mississippi Credit Union Association

CREDIT UNIONS

22 I Mississippi Business Journal I August 15, 2014 Credit Union

Address

Phone

Website

Meridian Mutual FCU

809 26th Ave., Meridian, MS 39301

(601) 693-1900

www.meridianmutualfcu.com

Mid Delta CU

623 Sunower Ave. Ext., Indianola, MS 38751

(662) 887-4347

N/A

Miller Transporters FCU

5500 Hwy. 80 W., Jackson, MS 39209

(601) 922-8331

www.millertfcu.com

Mississippi FCU

2500 N. State St., Jackson, MS 39216

(601) 984-1315

www.msfcu.us

Mississippi Central FCU

4840 Hwy. 80 E., Morton, MS 39117

(601) 732-8887

N/A

Mississippi College Employees FCU

S 200 Capitol St., Floor RM, Ste. 20, Clinton, MS 39056

(601) 925-3895

N/A

Mississippi DHS FCU

767 N. President St., Jackson, MS 39202-3002

(601) 354-6544

N/A

Mississippi Farm Bureau Employees CU

1401 Livingston Ln., Jackson, MS 39213-8004

(601) 981-5332

N/A

Mississippi Highway Safety Patrol FCU

1900 E. Woodrow Wilson Dr., Ste. 20, Jackson, MS 39216

(601) 987-1290

www.mhspfcu.com

Mississippi National Guard FCU

142 Military Dr., Jackson, MS 39232-8861

(601) 932-5194

N/A

Mississippi Postal Employees FCU

567 S. State St., Jackson, MS 39201

(601) 355-6363

www.mpefcu.com

Mississippi Public Employees CU

613 S. West St., Jackson, MS 39201-5506

(601) 948-8191

www.mspecu.org

Mississippi Telco Employees FCU

409 Riverwind Dr., Pearl, MS 39208

(601) 664-2085

www.mstelco.org

Mississippi University for Women Employees FCU

1100 College St., W-41, Columbus, MS 39701-5800

(662) 327-2500

www.muwfcu1.virtualcu.net

MSTC FCU

1577 Springridge Rd., Jackson, MS 39225

(601) 923-7446

N/A

MUNA FCU

4400 Hwy. 39 N., Meridian, MS 39301

(601) 693-8563

www.munafederal.com

Mutual CU

1604 Cherry St., Vicksburg, MS 39180

(601) 636-7523

www.mutualcu.org

Natchez Adams Education CU

10 Homochitto St., Natchez, MS 39120

(601) 445-2851

N/A

Navigator CU

2721 Jerry St. Pe' Hwy., Pascagoula, MS 39567

(228) 762-3542

www.navigatorcu.org

New Horizons CU

211 High St., West Point, MS 39773

(662) 494-7747

N/A

North Mississippi Health Services Employees FCU

830 S. Gloster St., Tupelo, MS 38801

(662) 377-3235

N/A

Northeast Mississippi FCU

704 Hwy. 25 S., Aberdeen, MS 39730-3404

(662) 369-2851

N/A

Old South FCU

148 N. Shields Ln., Natchez, MS 39120-4195

(601) 442-4382

www.oldsouthfcu.com

Pearl Municipal CU

2420 Old Brandon Rd., Pearl, MS 39208

(601) 939-3126

N/A

Pike County Teachers FCU

821 Summit St., McComb, MS 39649

(601) 684-6278

N/A

Pine Belt FCU

608 W. 7th St., Hattiesburg, MS 39401

(601) 583-3242

www.pinebeltfcu.com

Postal CU

2100 - 9th St., Rm. 5, Meridian, MS 39301

(601) 693-7413

N/A

SecurTrust FCU

3674 Goodman Rd. E., Ste. 11, Southaven, MS 38672-6402

(901) 751-2097

N/A

Shelby-Bolivar FCU

630 Gaines Hwy., Boyle, MS 38730-9507

(662) 843-0060

N/A

Singing River FCU

6006 Hwy. 63, Moss Point, MS 39563-9534

(228) 475-9531

www.srfcu.org

Statewide FCU

295 East Layfair Dr., Flowood, MS 39232

(601) 420-5535

www.statewidefcu.org

Stephens-Adamson Employees FCU

Hwy. 49 S., Clarksdale, MS 38614

(662) 627-5292

N/A

Tombigbee FCU

1010 True Temper Cir., Amory, MS 38821

(662) 256-2791

N/A

TPC Employees FCU

5424 Hwy. 145 S., Tupelo, MS 38879

(662) 566-4810

N/A

Treasury Employees FCU

100 W. Capitol St., Ste. 1059, Jackson, MS 39269-0697

(601) 355-5411

N/A

Triangle FCU

Bldg. 160, Simler Blvd., Columbus AFB, MS 39705

(662) 434-6052

www.trianglefcu.com

Twin States FCU

59 Yorkville Park Sq., Columbus, MS 39702-9677

(662) 327-7666

www.tsfcu.virtualcu.net

United Methodist of Mississippi FCU

9 County Rd. 1191, Booneville, MS 38829-6108

(662) 462-7585

N/A

University of Southern Mississippi FCU

3318 Hardy St., Hattiesburg, MS 39401

(601) 450-4114

www.usmfedcu.com

Valley Gas Employees CU

1400 Lakeover Rd., Ste. 140, Jackson, MS 39213-8000

(601) 362-7623

www.valleygasemp.virtualcu.net

Vicksburg Railroad CU

2101 Cherry St., Vicksburg, MS 39180

(601) 638-3134

N/A

Vickswood CU

107 Thalweg Rd., Vicksburg, MS 39180

(601) 638-1947

N/A

Wesley FCU

201 Methodist Blvd., Ste. 101, Hattiesburg, MS 39402-1267

(601) 268-8056

www.wesleyfcu.com

* The National Credit Union Administration approved the charter First Unity Federal Credit Union in July. The announcement gave August 2014 as the target opening Source: Mississippi Credit Union Association

August 15 2014

June 2014 sales tax receipts/year to date, July 1 MISSISSIPPI STATE TAX COMMISSION Here are cities’ earnings through sales tax collections. Sales tax has a three-month cycle. Month 1 — Tax is collected by the retailer. Month 2 — Tax is reported/paid to the Tax Commission by the retailer.

Month 3 — Sales tax diversion is paid by the Tax Commission to the cities. This report is based on the month the tax is collected at the Tax Commission (Month 2).

June June Year to date YTD CITY 2014 2013 2014 2013 ABBEVILLE $4,624.74 $3,372.24 $43,699.22 $49,419.49 ABERDEEN 72,794.94 70,865.11 774,170.47 815,344.01 ACKERMAN 23,814.59 23,512.32 273,931.15 278,471.22 ALCORN STATE U 414.50 389.06 7,079.43 9,127.55 ALGOMA 2,437.02 2,016.63 26,213.68 24,294.70 ALLIGATOR 722.70 590.84 8,643.11 8,203.25 AMORY 169,441.78 157,250.79 1,866,692.71 1,848,904.73 ANGUILLA 2,793.95 2,462.60 30,151.29 33,661.26 ARCOLA 2,019.57 1,435.22 17,917.47 18,000.65 ARTESIA 913.41 687.03 11,034.80 10,255.23 ASHLAND 15,166.27 13,393.52 158,501.77 142,261.05 BALDWYN 52,087.08 47,739.27 527,878.04 551,921.36 BASSFIELD 11,644.92 11,558.83 137,584.46 147,727.61 BATESVILLE 360,705.61 342,995.46 3,987,518.99 3,881,833.30 BAY SPRINGS 63,621.88 54,010.78 633,008.14 612,436.96 BAY ST LOUIS 126,780.42 107,723.39 1,264,862.84 1,284,311.84 BEAUMONT 6,983.27 6,208.13 71,126.67 73,320.89 BEAUREGARD 363.63 217.25 2,906.24 2,880.82 BELMONT 27,019.47 24,889.51 297,285.89 275,327.08 BELZONI 48,781.85 40,387.34 502,163.19 536,960.64 BENOIT 6,612.78 7,101.88 77,401.29 78,990.66 BENTONIA 12,026.02 27,328.74 278,460.10 325,691.90 BEULAH 545.30 327.36 4,747.40 4,583.46 BIG CREEK 390.80 397.14 4,085.49 4,620.99 BILOXI 1,042,333.51 953,121.63 11,235,042.19 10,917,658.84 BLUE MOUNTAIN 10,372.24 9,553.34 112,065.25 108,100.41 BLUE SPRINGS 3,188.26 2,700.23 33,977.35 32,056.61 BOLTON 8,584.25 11,117.29 116,093.16 123,174.33 BOONEVILLE 162,248.09 149,900.54 1,811,845.63 1,778,877.55 BOYLE 18,028.52 19,970.13 199,664.41 182,223.65 BRANDON 483,557.59 461,476.11 4,990,341.69 5,058,474.97 BRAXTON 1,601.11 1,181.45 15,611.61 14,081.23 BROOKHAVEN 496,235.51 458,322.14 5,482,569.52 5,204,118.55 BROOKSVILLE 9,644.96 10,433.15 113,718.69 105,257.96 BRUCE 43,834.35 44,357.65 495,338.96 490,617.60 BUDE 16,716.29 12,124.80 149,576.74 127,759.50 BURNSVILLE 14,994.00 12,980.42 146,719.06 143,203.18 BYHALIA 70,040.22 67,920.06 739,710.52 714,565.23 BYRAM 164,171.18 170,268.76 1,897,972.70 1,913,402.05 CALEDONIA 13,652.20 11,217.37 153,000.75 136,118.39 CALHOUN CITY 27,124.90 25,456.52 310,736.85 294,387.41 CANTON 334,770.93 215,466.07 2,572,588.44 2,427,216.00 CARROLLTON 6,818.00 5,528.96 72,897.96 70,099.18 CARTHAGE 140,912.37 138,527.68 1,572,476.87 1,577,084.57 CARY 1,385.64 1,224.35 9,203.78 17,184.64 CENTREVILLE 19,635.74 17,610.56 228,199.33 221,263.73 CHARLESTON 33,807.30 27,308.09 338,609.66 338,401.97 CHUNKY 1,007.79 684.65 8,920.00 7,160.16 CLARKSDALE 261,101.77 231,809.76 2,787,889.01 2,804,782.76 CLEVELAND 371,910.38 278,093.17 3,463,806.23 3,414,503.01 CLINTON 394,864.19 375,503.90 4,410,512.41 4,444,280.98 COAHOMA 670.25 553.52 6,564.89 5,888.75 COAHOMA COLLEGE 16.81 9.99 2,651.69 2,955.38 COFFEEVILLE 9,911.67 9,816.43 113,884.93 124,436.52 COLDWATER 19,076.71 16,493.58 209,045.69 202,895.41 COLLINS 128,351.56 137,288.25 1,365,829.44 1,371,013.35 COLUMBIA 271,255.66 291,951.09 3,392,443.15 3,313,389.39 COLUMBUS 825,680.29 734,443.80 8,730,679.18 8,616,353.91 COMO 9,728.76 15,537.11 163,249.73 174,136.04 CORINTH 537,269.96 481,089.51 5,748,934.52 5,500,075.13 COURTLAND 1,318.82 1,107.94 14,309.10 15,315.83 CRAWFORD 1,298.58 1,158.85 16,662.30 14,996.85 CRENSHAW 4,849.05 4,111.01 56,063.07 57,323.97 CROSBY 5,737.56 596.86 33,432.35 11,435.79 CROWDER 1,945.56 1,385.87 18,511.11 19,987.07 CRUGER 537.37 838.87 6,000.18 7,095.79 CRYSTAL SPRINGS 62,841.95 65,494.00 726,421.65 644,528.56 D'IBERVILLE 516,407.54 493,984.50 6,105,703.72 5,910,675.56 D'LO 14,592.09 3,253.69 49,287.15 37,097.17 DECATUR 12,359.32 10,793.71 150,903.13 139,917.88 DEKALB 22,958.09 22,887.99 250,868.73 243,004.21 DERMA 4,769.28 5,701.37 61,555.62 57,946.95 DIAMONDHEAD 43,325.38 40,679.40 467,762.55 463,042.21 DODDSVILLE 648.59 600.33 6,594.05 5,887.22 DREW 10,298.38 10,730.75 113,678.22 116,050.26 DUCK HILL 4,005.05 4,068.27 48,945.94 44,730.41 DUMAS 1,400.62 1,188.09 13,110.69 13,230.99 DUNCAN 398.73 2,269.55 7,034.90 16,586.95 DURANT 30,450.75 26,056.63 304,306.87 291,952.92 EAST MS COLLEGE 103.89 98.79 3,119.75 3,080.83 ECRU 12,079.50 12,504.72 143,132.49 136,951.67 EDEN 84.03 55.69 840.13 651.81 EDWARDS 7,491.05 5,909.53 85,431.16 71,058.85 ELLISVILLE 104,178.81 101,163.44 1,065,135.72 1,069,794.89 ENTERPRISE 5,369.40 5,238.75 60,463.51 60,816.54 ETHEL 1,670.46 1,137.75 13,833.21 13,775.54 EUPORA 41,726.82 37,632.69 423,125.22 416,460.40 FALCON 180.99 61.98 1,438.80 634.05 FARMINGTON 4,413.27 3,661.70 46,970.95 50,743.42 FAULKNER 5,332.17 4,409.05 67,576.58 42,750.84 FAYETTE 19,121.85 18,284.33 213,750.61 201,495.74 FLORA 31,643.18 24,412.67 311,805.46 328,299.25 FLORENCE 71,950.40 69,582.89 773,257.64 758,481.05 FLOWOOD 903,385.70 890,154.39 10,686,087.07 10,358,729.62 FOREST 202,312.50 181,371.38 2,237,913.72 2,099,636.97 FRENCH CAMP 1,214.85 537.80 11,236.12 10,863.11 FRIARS POINT 2,488.11 1,955.34 27,174.09 27,851.00

FULTON GATTMAN GAUTIER GEORGETOWN GLEN GLENDORA GLOSTER GOLDEN GOODMAN GREENVILLE GREENWOOD GRENADA GULFPORT GUNNISON GUNTOWN HATLEY HATTIESBURG HAZLEHURST HEIDELBERG HERNANDO HICKORY HICKORY FLAT HINDS COMMUNITY HOLLANDALE HOLLY SPRINGS HORN LAKE HOULKA HOUSTON INDIANOLA INVERNESS ISOLA ITTA BENA IUKA JACKSON JONESTOWN JUMPERTOWN KILMICHAEL KOSCIUSKO KOSSUTH LAKE LAMBERT LAUREL LEAKESVILLE LEARNED LELAND LENA LEXINGTON LIBERTY LONG BEACH LOUIN LOUISE LOUISVILLE LUCEDALE LULA LUMBERTON LYON MABEN MACON MADISON MAGEE MAGNOLIA MANTACHIE MANTEE MARIETTA MARION MARKS MATHISTON MAYERSVILLE MCCOMB MCCOOL MCLAIN MEADVILLE MENDENHALL MERIDIAN MERIGOLD METCALFE MISS. GULF COAST CC MISS. STATE UNIV. MISS. VALLEY STATE MIZE MONTICELLO MONTROSE MOORHEAD MORGAN CITY MORTON MOSS POINT MOUND BAYOU MT OLIVE MYRTLE NATCHEZ NETTLETON NEW ALBANY NEW AUGUSTA NEW HEBRON NEWTON NO. CARROLLTON NOXAPATER OAKLAND OCEAN SPRINGS OKOLONA OLIVE BRANCH OSYKA OXFORD PACE PACHUTA PADEN

124,752.40 238.54 198,438.01 3,834.92 2,148.49 470.09 14,512.18 4,855.74 3,655.91 554,412.27 404,038.21 393,280.71 1,764,853.87 839.60 17,371.72 746.42 1,697,393.41 112,891.22 29,170.83 283,810.04 6,129.37 5,265.18 811.02 17,478.34 127,650.98 345,829.37 8,358.46 92,861.15 166,361.64 5,582.22 2,902.57 14,324.94 72,565.78 2,870,772.80 4,356.73 1,164.04 5,207.74 191,157.43 3,761.78 6,853.38 2,121.49 832,455.11 28,966.40 801.22 46,665.61 1,791.55 46,164.37 21,720.69 122,780.00 2,386.00 1,102.40 202,467.63 200,477.62 3,165.39 14,755.18 2,159.63 6,678.42 58,847.46 471,183.66 181,666.93 37,773.11 19,413.91 2,386.37 5,398.56 19,323.88 21,192.34 19,159.30 1,142.95 481,242.00 1,277.74 6,420.17 10,933.40 59,354.02 1,348,982.74 6,617.75 1,108.51 129.36 91.92 14,548.08 42,221.29 500.76 9,383.56 681.63 44,690.25 153,092.37 3,388.41 8,248.46 4,721.12 527,601.45 29,471.83 266,274.27 16,360.94 10,422.50 93,113.59 3,764.08 8,421.14 6,327.05 426,480.37 32,744.65 780,660.39 4,941.07 598,949.56 630.21 1,883.36 247.31

123,413.80 106.38 201,955.91 3,508.86 1,984.70 402.15 12,123.55 3,857.38 3,250.59 528,037.22 370,445.07 351,877.02 1,671,018.01 372.87 15,810.85 408.59 1,789,390.79 105,502.57 31,433.36 252,588.94 4,042.17 5,384.59 1,098.16 13,410.75 99,433.75 338,484.65 8,307.48 83,415.61 149,326.55 6,646.71 1,187.55 10,181.84 67,669.95 2,684,771.97 3,612.56 902.77 5,843.12 175,043.68 3,472.10 6,244.44 4,519.72 821,044.20 26,867.20 466.13 47,778.59 1,888.32 37,618.75 20,518.47 115,953.80 2,573.92 873.66 146,385.26 169,602.88 3,243.23 14,733.17 5,530.95 5,880.39 53,734.73 541,235.36 172,947.81 41,176.51 16,148.06 2,243.21 4,547.59 17,560.34 19,063.08 16,531.32 580.35 485,319.90 1,360.86 7,065.28 10,938.04 58,920.04 1,244,097.23 7,104.43 1,103.16 204.80 13,244.12 96.20 13,050.25 39,195.90 554.97 6,215.05 550.54 38,712.52 152,402.21 3,961.99 7,344.16 4,216.11 461,013.38 29,721.22 252,526.94 14,943.19 6,871.70 91,117.27 3,264.76 9,081.56 5,977.30 365,496.94 26,712.23 670,835.14 5,376.14 590,197.29 536.50 1,857.13 188.52

1,446,601.38 1,610.45 2,156,522.79 43,107.62 23,981.57 5,195.73 149,181.70 55,005.65 43,592.04 6,263,304.21 4,405,630.97 4,109,875.54 19,690,431.09 9,364.04 187,869.76 5,092.22 21,397,160.15 1,267,360.32 357,780.13 2,945,793.35 54,893.03 63,208.36 9,105.01 171,357.61 1,223,488.81 3,929,950.58 97,798.04 982,306.63 1,904,474.12 64,195.43 30,662.51 140,652.06 774,361.64 31,965,314.42 48,000.40 8,537.53 66,649.39 2,013,430.65 43,625.38 80,713.42 32,170.07 9,690,918.91 320,944.04 5,506.41 534,398.06 19,984.24 466,812.83 236,909.65 1,352,107.34 28,684.34 12,114.67 1,849,326.37 2,044,748.71 39,882.60 177,936.90 52,405.66 74,712.75 593,316.69 6,252,405.60 2,013,373.89 387,505.20 204,918.75 29,322.97 56,773.55 220,284.23 236,060.68 186,525.91 8,545.66 5,483,682.86 21,549.70 70,407.47 127,066.62 636,475.16 15,003,701.17 81,247.60 14,127.96 5,110.47 332,735.64 8,739.55 199,502.54 461,484.93 6,293.51 105,591.09 7,021.45 492,358.01 1,744,875.38 43,044.80 94,409.63 54,819.50 5,568,527.40 307,545.41 2,890,051.27 177,389.34 93,671.76 1,024,240.25 38,971.44 100,591.86 70,862.21 4,602,768.75 321,161.42 8,185,728.65 59,713.50 7,279,476.22 6,404.80 21,001.31 2,416.34

1,431,293.80 1,480.69 2,235,352.41 42,504.70 20,553.23 4,171.58 135,697.31 52,014.66 42,055.12 6,329,209.93 4,409,028.34 4,065,668.46 19,346,010.24 8,962.55 181,808.54 6,298.28 21,142,807.02 1,254,366.85 411,065.99 2,821,213.89 47,334.06 69,262.26 9,217.45 170,973.95 1,185,374.66 3,911,683.96 97,889.16 995,051.16 1,838,398.59 75,643.48 19,024.57 138,799.72 779,331.44 31,644,983.91 45,408.74 9,769.07 69,871.24 2,005,625.63 44,783.22 80,541.72 43,169.90 9,246,793.72 291,013.78 5,446.23 522,616.10 20,586.32 445,599.19 230,926.88 1,336,030.62 29,037.87 12,485.06 1,747,453.60 1,947,014.06 39,434.78 175,046.23 68,675.42 74,779.84 596,706.96 5,980,521.03 1,965,581.62 425,140.74 195,608.65 32,584.12 56,092.91 197,709.99 234,000.71 188,160.09 6,891.92 5,402,071.25 6,866.35 70,566.17 125,476.33 596,924.35 14,434,646.67 84,798.65 13,210.93 152,032.13 458,736.06 7,201.11 104,168.83 7,118.63 464,831.13 1,614,333.76 54,697.11 6,239.73 344,600.99 7,921.35 97,096.96 46,924.69 5,377,507.90 291,435.03 2,819,713.79 181,689.01 86,647.00 1,029,072.80 35,830.45 111,037.85 70,149.36 4,464,996.87 297,504.50 7,555,024.66 65,290.82 6,904,958.11 6,734.67 21,763.77 1,967.33

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PASCAGOULA 505,063.53 493,603.87 5,539,128.47 5,400,356.83 PASS CHRISTIAN 108,298.96 95,543.59 1,166,729.71 1,110,300.57 PAULDING 153.83 128.21 1,798.21 1,386.02 PEARL 865,409.78 800,714.88 9,444,021.36 8,389,387.34 PELAHATCHIE 38,215.44 28,837.29 376,707.24 318,058.09 PETAL 210,341.33 195,659.51 2,305,464.11 2,191,398.61 PHILADELPHIA 314,410.31 346,812.83 4,067,044.13 3,852,448.37 PICAYUNE 386,567.62 352,584.40 4,239,877.83 4,100,863.15 PICKENS 7,920.65 7,469.93 89,671.51 92,085.41 PITTSBORO 467.09 396.64 4,941.82 5,133.04 PLANTERSVILLE 4,265.62 4,869.98 46,842.61 45,609.90 POLKVILLE 301.81 403.79 4,175.68 4,458.08 PONTOTOC 215,003.72 198,229.72 2,278,419.57 2,206,630.77 POPE 1,948.31 2,566.43 27,623.77 43,491.83 POPLARVILLE 58,149.70 56,744.02 657,812.04 623,841.61 PORT GIBSON 22,139.99 19,371.67 240,049.44 236,471.64 POTTS CAMP 8,349.92 7,896.43 92,187.57 101,517.79 PRENTISS 38,951.40 36,854.91 431,706.06 438,748.09 PUCKETT 9,164.89 7,776.72 104,736.54 101,791.99 PURVIS 70,777.32 64,973.77 763,865.55 695,986.45 QUITMAN 53,627.43 47,257.01 558,256.06 526,268.28 RALEIGH 22,440.64 21,885.83 204,730.42 203,505.62 RAYMOND 18,817.76 15,883.49 210,365.11 194,797.61 RENOVA 2,732.50 1,889.07 30,249.94 31,594.88 RICHLAND 469,010.07 385,272.73 4,970,820.79 4,527,353.82 RICHTON 28,313.51 25,199.53 315,531.66 315,469.92 RIDGELAND 1,123,851.94 1,161,811.39 12,865,630.98 12,514,322.86 RIENZI 4,210.64 3,634.57 47,585.54 35,045.35 RIPLEY 118,425.39 111,190.13 1,237,831.53 1,218,955.61 ROLLING FORK 41,651.82 37,704.04 426,511.77 421,325.18 ROSEDALE 12,295.64 9,479.06 113,829.88 119,735.79 ROXIE 1,726.00 1,348.80 17,642.89 17,255.42 RULEVILLE 23,416.93 20,028.27 247,170.54 232,495.16 SALLIS 2,953.84 2,151.18 24,271.79 26,729.05 SALTILLO 63,161.97 63,601.04 654,501.31 717,215.21 SANDERSVILLE 167,671.68 49,728.43 903,343.17 735,660.48 SARDIS 27,043.52 26,241.43 302,171.43 299,190.89 SATARTIA 152.68 385.91 3,565.84 4,859.43 SCHLATER 1,081.38 1,281.36 11,688.55 11,263.76 SCOOBA 6,388.46 5,467.35 74,986.24 73,569.92 SEBASTAPOL 16,649.80 15,816.82 189,920.60 184,478.00 SEMINARY 13,518.91 11,056.76 144,720.19 131,712.43 SENATOBIA 187,136.62 167,270.27 2,074,162.51 1,889,767.37 SHANNON 13,622.18 13,565.25 148,234.54 165,382.15 SHAW 6,606.80 6,556.80 78,513.86 75,990.56 SHELBY 12,062.95 10,521.37 113,551.70 120,631.67 SHERMAN 16,857.32 13,486.32 141,697.34 138,533.64 SHUBUTA 3,907.56 3,591.78 46,105.74 42,298.54 SHUQUALAK 2,304.19 1,661.51 24,148.91 22,029.95 SIDON 921.16 771.14 9,965.97 9,562.89 SILVER CITY 455.03 343.92 4,539.81 4,596.81 SILVER CREEK 3,428.92 3,050.51 36,761.10 35,410.42 SLATE SPRINGS 150.66 146.74 3,479.42 3,384.76 SLEDGE 1,606.38 1,270.83 21,514.09 17,982.09 SMITHVILLE 6,957.12 6,126.15 71,922.40 67,361.24 SNOWLAKESHORES 659.15 353.17 4,961.92 1,963.65 SOSO 11,942.90 10,906.89 145,728.82 160,234.51 SOUTHAVEN 1,155,585.35 1,026,347.82 12,942,172.22 12,451,315.25 SOUTHWEST MS CC 15.45 14.80 718.95 1,670.21 STARKVILLE 521,180.80 469,209.69 5,936,818.38 5,692,383.63 STATE LINE 10,902.35 9,744.07 125,556.17 106,220.05 STONEWALL 7,638.51 7,265.98 80,909.31 79,369.71 STURGIS 3,277.06 2,567.41 32,622.13 42,218.64 SUMMIT 41,683.82 39,182.45 396,961.61 383,878.11 SUMNER 3,178.52 3,661.57 66,851.97 51,428.28 SUMRALL 37,969.80 43,260.62 433,562.62 434,850.43 SUNFLOWER 1,745.37 1,907.64 24,622.26 23,230.34 SYLVARENA 376.86 237.36 3,463.15 3,678.21 TAYLOR 1,762.76 2,203.17 22,180.37 22,765.59 TAYLORSVILLE 29,021.96 26,214.62 307,007.32 296,863.93 TCHULA 7,502.49 6,901.83 84,105.52 84,071.79 TERRY 25,464.99 24,183.92 287,864.81 289,931.35 THAXTON 4,650.97 3,351.83 44,522.57 36,206.87 THE UNIV. OF MS 9,993.25 420,281.90 371,386.69 TISHOMINGO 10,492.35 8,878.71 107,197.28 99,195.61 TOCCOPOLA 470.33 532.47 5,817.74 6,705.27 TREMONT 2,052.90 1,668.19 21,377.36 20,677.57 TUNICA 47,969.16 40,433.26 562,161.49 495,543.55 TUPELO 1,639,460.26 1,492,693.08 18,103,711.58 17,853,342.18 TUTWILER 6,021.39 3,520.84 49,041.93 45,669.38 TYLERTOWN 59,045.73 56,910.60 646,592.47 649,606.16 UNION 31,665.62 28,975.11 350,352.73 346,014.88 UTICA 12,448.01 12,283.25 143,943.28 141,322.42 VAIDEN 9,746.35 8,856.65 111,783.02 121,206.38 VARDAMAN 10,656.08 9,635.64 124,635.61 122,753.13 VERONA 20,793.67 20,156.12 234,648.61 240,679.67 VICKSBURG 679,160.80 660,778.12 7,693,603.77 7,630,047.74 WALLS 5,808.31 3,474.68 61,079.80 39,750.97 WALNUT 19,288.27 17,086.67 201,977.81 199,050.83 WALNUT GROVE 7,006.39 5,443.19 79,708.70 78,528.46 WALTHALL 1,742.97 1,784.80 21,859.86 21,539.47 WATER VALLEY 44,485.88 44,355.33 474,617.27 475,826.70 WAVELAND 209,106.50 187,239.69 2,167,406.86 2,141,286.70 WAYNESBORO 203,427.86 177,321.50 2,135,140.51 2,049,610.96 WEBB 8,301.58 6,884.01 94,719.89 91,643.11 WEIR 3,016.93 2,213.59 27,584.56 27,861.44 WESSON 11,664.28 14,984.74 152,481.79 172,852.61 WEST 2,081.05 1,376.23 21,221.59 18,015.88 WEST POINT 229,090.95 176,137.42 2,291,381.56 2,104,898.87 WIGGINS 150,563.87 147,180.53 1,722,629.00 1,683,346.38 WINONA 102,625.78 88,559.48 1,023,390.11 1,046,642.85 WINSTONVILLE 468.09 323.94 2,945.31 4,258.72 WOODLAND 4,269.16 6,853.32 68,610.53 67,861.61 WOODVILLE 32,042.93 27,273.18 349,188.61 317,589.06 YAZOO CITY 159,096.52 143,453.10 1,705,939.56 1,762,700.24 TOTAL $36,992,972.84 $34,534,464.96 $410,273,817.80 $399,181,456.56

24 I Mississippi Business Journal I August 15 2014

»ACHIEVING THE INCONCEIVABLE

C Spire pushes to deliver 1 GBPS broadband Internet in Mississippi

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Dave Miller, senior manager for media relations

hen Dave Miller, senior manager for media relations at C Spire, dropped by our offices the other day, we took the opportunity to chat with him about the company’s progress toward delivering 1 Gig Internet speeds within the state of Mississippi. “We expect to make our first connections in Ridgeland this fall,” he said. “When you think about the timeline, we’re really proud of our progress.”

It was only last fall that C Spire announced its aggressive plan to bring the super high speed internet service to Mississippi, inviting cities around the state to apply for that service in their areas. By Oct. 20, 2013, 33 cities had responded, and by Nov. 4, nine cities were selected for the

CERTIFIED INDUSTRIAL HYGIENIST (CIH) CONSULTING FOR HOSPITAL AND MEDICAL FACILITIES

• Anticipation, Recognition, Evaluation & Control of Health Hazards • Industrial Hygiene and Healthcare Infection Control • Building Commissioning and Maintenance º Air Monitoring for Baseline and Employee Exposure º Ventilation Baseline Profiles º Contamination Control

• General Environmental, Health, and Safety • Contingency and Emergency Planning • Education and Training Contact: E. Corbin McGriff, Ph.D., P.E. Veteran owned small business HAZCLEAN ENVIRONMENTAL CONSULTANTS, INC. JACKSON, MS & BIRMINGHAM, AL

601.922.0766 • fax: 601.922.7927 • email: info@hazclean.com www.hazclean.com

service. These are Batesville, Clinton, Corinth, Hattiesburg, Horn Lake, McComb, Quitman, Ridgeland and Starkville.

Asked why these cities were the “winners,” Dave said. “Because these were the communities that wanted it the most. We stipulated at the beginning that the folks who wanted the service the most would be

ments necessary to deliver the technology.

“At present, we’re the only company with this vision in the state of Mississipppi,” he said. “We see so Alan Turner many possibilities down the road. For one thing, this could well open the door to folks being able to conference in real time with their doctors, and give the doctors the access to diagnostics that they need to provide treatment.”

He also sees this as a major economic development tool for cities and communities, pointing out that it can actually enhance the

“By 2018, some estimates are that the number of digital devices may well double. Our goal at C Spire is to be ready for that future, and to play a major role in delivering the service that makes it possible.”

Dave Miller the ones who get it first.”

C Spire has identified 81 “fiberhoods” in those cities where the service will be available, representing 86,000 households. C Spire will offer the service at $70 a month for internet, $90 a month for internet and home phone, or $130 a month for internet and television.

Just a few years ago, when many people were on dial-up Internet service, a “fast connection” was considered to be a 33.6 KBPS modem. Then came broadband Internet, which was leaps and bounds ahead of dial-up. And now comes the world of 1 GBPS, which is up to 100 times faster than the average speeds available to most homes today.

Dave sees this as a journey from “nice to necessity,” as he phrased it.

“Today, we’re seeing more and more interlinking among our phones, computers, automobiles and the devices in our homes,” he said. “By 2018, some estimates are that the number of digital devices may well double. Our goal at C Spire is to be ready for that future, and to play a major role in delivering the service that makes it possible.”

Dave said that the company’s goal is to provide as many connections as possible in the next few years, and that the company is ready and willing to make the huge invest-

value of homes and businesses.

“When railroads came to America, it was a transforming event. Then came interstate highways and major airports. And now, it’s the internet of things, with another major transformation,” he said. “This will touch just about every aspect of our culture, and sooner rather than later.”

C Spire began construction in May and June in the first cities (Ridgeland, Quitman, and Starkville), and Dave said the first homes will be enjoying the new service by the fall.

“In those few other locations where the service has been rolled out, it has generally taken up to three years to complete the project,” he said. “And we’ve done it in a year.”

For those who might like to see a speed comparison for the 1 GBPS service, go to www.cspire.com and look for the fiber speed comparison link. The difference is pretty amazing, and what would have been inconceivable just a few years ago is now within reach.

“Our goal is to move forward and capitalize on these opportunities,” Dave said.

“And I guess you might say we have a bias for urgency.”

Contact Mississippi Business Journal publisher Alan Turner at alan.turner@msbusiness.com or (601) 364-1021.

August 15 2014

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» MISSISSIPPI LEADERS by Martin Willoughby

Sense of mission Gandy brings passion to Mission First Legal Aid Office

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ative Mississippian and motivational guru Zig Ziglar once said, “Outstanding people have one thing in common: An absolute sense of mission.” Based on my observation of successful leaders, I would wholeheartedly agree with Ziglar’s conclusion. These leaders have discovered their true passion and are living “on purpose” with focus and determination.

Mission driven individuals inspire others to greatness and to make a difference. My interviewee this week, Patricia (Patti) Gandy, is the type person Ziglar was referring.

Gandy is living out her passion each day as the founding director of the Mission First Legal Aid Office which was established by Mississippi College School of Law and Mission First Inc. to provide legal services to qualified residents of Hinds, Madison and Rankin counties.

Gandy’s resume is put together almost as if she was destined for her current role.

However, she is quick to explain that there was no grand plan, but instead, a faithful commitment to doing each job well in her journey. A native of Jackson, Gandy received her associate’s degree from Hinds Community College and soon found herself employed as a receptionist for a law firm which

Up Close With ... Patricia (Patti) Gandy Title: Director, Mission First Legal Aid Office Favorite Books: Gospel Justice by Bruce Strom; Nickel and Dimed by Barbara Ehrenreich First Job: “I worked at Elmore’s in Jackson Mall in high school.”

Proudest Moment as a Leader: ”When the Christian Legal Society awarded our organization the John D. Robb award and called us a shining light.’”

Hobbies/Interests: ”Walking, reading, and spending time with my three grandchildren”

led to her becoming a legal secretary.

While still in her 20s, she went on to become president of the Mississippi Legal Secretaries Association. As she approached her 30th birthday, she decided it was time to complete her undergraduate degree which she did in business at Mississippi College.

To pay her way through school, Gandy freelanced as a legal assistant and ended up helping connect other legal assistants with job opportunities. Upon graduation, she decided to create a business (The Gandy Agency) to provide legal assistants to law

firm. She built a thriving business over an eight-year period. As she considered the next decade of her life, she decided to go to law school at Mississippi College School of Law where she was a top student. Upon graduation, she clerked for the Mississippi Court of Appeals before practicing with Butler Snow, LLP for a number of years. In 2006, Patti accepted the position of director of the Mission First Legal Aid Office.

Gandy shared, “I reflected on what I was passionate about and realized that I truly enjoyed helping the poor and needy.” She con-

Gandy’s resume is put together almost as if she was destined for her current role.

tinued, “As I look back, I realize that God was preparing me for each opportunity.” Leaders like Gandy understand that leadership is journey, not a destination.

Based on the role model of her father, Martin Willoughby Gandy sought to be a good steward of the job at hand and strived to be a servant leader.

She said, “My dad also taught me the importance of connecting with his employees on a personal level and being genuinely interested in their lives.”

She bases her leadership philosophy on trust and respect. Today she works with hundreds of professional volunteers to help them live out their faith by using their skills to help the poor with legal aid. Last year, the organization and its volunteers made a difference in the lives of over 1,500 people. The organization has been a big success and complements the work done by Mississippi Volunteer lawyer Project and similar organizations. Gandy’s main focus is on recruiting, motivating, and encouraging the volunteers and keeping the organization aligned with its mission. She regularly speaks to communities around the state about how to set up similar programs. In 2014, Gandy was recognized for her accomplishments and was awarded the Distinguished Service Award by The Mississippi Bar. I am encouraged by Gandy’s commitment to excellence and her courage to follow the path of an “on mission” life.

Martin Willoughby is a business consultant and regular contributing columnist for the Mississippi Business Journal. He serves as Chief Operating Officer of Butler Snow Advisory Services, LLC and can be reached at martin.willoughby@ butlersnow.com.

Differences in confidence decoded and deconstructed

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» The Confidence Code: The Science and Art of Self-Assurance – What Women Should Know

By Katty Kay & Claire Shipman

Published by HarperBusiness $27.99 hardback

he Confidence Code, at first glance, may seem like a book only relevant to women, thanks to its subtitle.

While it is geared towards them, I’d argue that anyone who works with or manages women, or teaches young girls, or has women they care about in their lives, could learn a lot from reading this book. (And I’d guess just about everyone falls into one or several of those categories.)

Written by Katty Kay, the Washington anchor for BBC World News America, and Claire Shipman, ABC News and Good Morning America correspondent, The Confidence Code breaks down the explanations for the differences in confidence shown by women versus men. Looking at sources as diverse as sociology, psychology, biology, and even genetics, the authors try to nail down what creates this disparity, and what can be done about it.

It’s an interesting subject and spans from the playground to the workplace, with real implications. For instance, one study cited in the book, conducted by Carnegie Mellon economics

professor Linda Babcock with business school students, found that “men initiate salary negotiations four times as often as women, and that when women do negotiate, they ask for thirty percent less than men do.”

Another study, this one conducted by Hewlett-Packard, found that men applied for promotions when they believed they met sixty percent of the job requirements. Women, on the other hand, only applied when they believed they met onehundred percent of the job requirements. The gap in confidence between women and men plays out this way again and again throughout the book.

It even starts early, with many young girls in school learn-

ing that being “good” means being quiet, not interrupting, not causing trouble, and doing everything perfectly. However, these skills, reinforced over years of good grades and pats on the head, don’t necessarily translate into modern workplace success, where self-promoting behavior and speaking up matter, oftentimes, more than the quality of the work itself.

Indeed, in some of the most surprising findings in the book, study after study showed that confidence contributes more to success than competence does. The ability to let things roll off your back, speak up with your ideas, and use both verbal and nonverbal cues to demonstrate confidence, for instance, all carry substantial weight in most offices. And the catch is that it can’t really be faked. To work effectively, the confidence has to be real.

For more on this phenomenon, and to hear the authors’ solutions, check out this provocative book.

— LouAnn Lofton, mbj@msbusiness.com

26 I Mississippi Business Journal I August 15 2014 THE SPIN CYCLE

Pitching pitfalls that drive journalists crazy ow well do us PR practitioners and journalists get along? Sometimes it’s easy to avoid common mistakes that will prevent your brand from getting covered and possibly ruin your relationship with the journalist – and who better than journalists themselves to give us tips?

With the help of Martin Bryant, editorin-chief at The Next Web, Media Bistro, recently gathered a list of actions that drive journalists crazy. Let’s take a look at the common mistakes that PR pros must avoid in peddling the news.

1. Never going to give up – Persistence is a virtue , but you must also understand when to accept a “no.” Among the most common complaints encountered: the follow-up call right after an e-mail. Social Media outreach can also be annoying, so think twice before friending a journalist on Facebook or mentioning him on Twitter right after the pitch.

Simultaneously sending a release to both personal and professional e-mail addresses can also be seen as an invasion. Send only to business addresses.

Journalists also mention that any effort to change/complain about editorial decisions is seen as obnoxious and may put those crucial relationships at risk.

2. Lack of personalization – Persistence is not the only sign of bad PR: lack of effort and mass distribution can be even worse. Examples – endless CC lists and BCCs that make it look like the contacts emailed themselves.

Of course, an email starting with “dear media outlet” doesn’t stand much of a chance, and could be destined for the trash bin. Make sure to get the name right.

3. Get to the point – Buzzwords won’t get you far. “Disruptive,” “revolutionary,” “market-leading,” etc. are meaningless jargon phrases. Think about audiences, not journalists – and avoid “superlative-stuffing.”

A good pitch is always straight to the point: many journalists complain about emails that require readers to scroll down (and about e-mails with no links). Stick to the facts, keep it short and add links to your online news release and other supporting material.

4. Contentious Issues – The majority of journalists agree on the points discussed before, but some individual preferences do divide them.

Should you present pure facts, as in “Hi, here we are and this is what we do,” or should you suggest a story, an angle, a spin for the journalist to consider? Opinions diverge on this issue. Sometimes it’s good to pitch a story months before the big event hits, while a weeklong embargo is already too much in other cases. The Spin Cycle says months are too far in advance and weeks are a better strategy for pitching stories.

H

Should you include mentions/links from growing much faster on Instagram than member: Keep in other blogs, or should you only pitch exclu- Facebook – which isn't necessarily surpris- mind what happens sives? There’s no single answer: journalists ing since the former is much newer to the during the day. For example, tweeting a sports journalist’s thoughts about why Lebron James should stay with Miami right Todd Smith before the news of his move to Cleveland breaks. Scheduling is great, but you’ll need to stay awake for real-time content.

4. Don’t be “that guy or gal.” If you believe your social media handles’ sole purpose is to plug, shill, and shamelessly promote your PR skills, your name-dropping lifestyle, and your clients’ brands, you would be wrong.

Don’t commit social media suicide. Make it work for you by working with others on it.

Teamwork is the objective!

In the end, honesty, common sense and cultivating longlasting relationships with journalists will help you avoid these pitfalls in almost every case.

are people, too, and their preferences obviously vary.

In the end, honesty, common sense and cultivating long-lasting relationships with journalists will help you avoid these pitfalls in almost every case.

Instagram Marketing Quickly Catching-Up To Facebook How close is Instagram to Facebook when it comes to brand activity? Probably closer than you think.

Social media shop Shareablee pulled the following numbers, which illustrate that marketers – while most of them cannot run ads yet on Instagram – are highly active on the social-mobile phone app.

The intriguing stats below are for United States brand pages during the second quarter. Keep in mind that Facebook went live in 2004, and Instagram hasn't been around for four years yet. » Facebook garnered 2.5 million brand posts, a year-over-year growth of 22 percent. » Instagram had 493,000 of such posts, a 49 percent year-over-year jump. » Facebook accrued 6 billion actions (likes, comments or shares). » Instagram totaled 3.4 billion actions (likes, comments). » Facebook had 2,396 actions per post. » Instagram racked up 6,932 actions per post.

There is a trio of obvious takeaways from the findings.

First, Instagram received 56 percent as many total actions on the platform as Facebook during Q2. And, brand activity is

marketing world than the latter. But what should raise eyebrows is that Instagram is achieving three times the engagement per post when compared to Facebook.

4 Social Media Mistakes PR People Should Avoid 1. Don’t talk badly about work or your employer. We all have bad days. PR life – be it as an agency executive or an in-house practitioner – can be slightly aggravating. In a moment of angst and client misunderstanding, some PR pros tweet without thinking. The problem: if you are doing your job properly, journalists follow you and your team may follow you – and an unfortunate note can cause people to very quickly unfollow you, your agency and even your clients. Just walk away and live to tweet and post another day.

2. Don’t forget your boundaries. Facebook has become the storehouse for everyone’s ego.

People go there and share, share, share.

There’s no thought, just the overflow of emotion when seeing a cute dog or a grumpy cat. Then, the boundaries erode, you enjoy seeing more of yourself online, and you really begin over sharing. Salty language, general angst, political commentary, untoward remarks about your fellow employees – these are the signs it’s out of hand. Remember that these things are public (and clients/reporter friends may well be in the general vicinity).

3. Don’t be lazy. Social media platforms, such as Hootsuite and Buffer, were created to help you keep it real on social media and keep it consistent with timed content.

There’s only one very important thing to re-

Golden Mic | James Brady Set the Gold Standard For Press Secretary The late James Brady, the former White House press secretary who was shot in the head during the 1981 assassination attempt on President Ronald Reagan and who went on to become an unwavering gun-control advocate, truly set the gold standard for the role of White House press secretary. Brady, who was press secretary for the first two months of the Reagan administration, is remembered by colleagues and friends as a skilled and evenhanded arbiter between the press and the administration. "He really set the gold standard for being press secretary," said Ken Duberstein, a former Reagan chief of staff who at the time was the president's congressional liaison. "Open, honest, straight, but with humor, with dignity, with grace.

A dozen of his press secretary predecessors issued a rare joint statement honoring the life of Brady: "Jim Brady defined the role of the modern White House Press Secretary.” Brady persevered, and in the face of violent adversity refused to walk away from the mic.

Each week, The Spin Cycle will bestow a Golden Mic Award to the person, group or company in the court of public opinion that best exemplifies the tenets of solid PR, marketing and advertising – and those who don’t. Stay tuned – and step-up to the mic!

And remember … Amplify Your Brand!

Todd Smith is president and chief communications officer of Deane, Smith & Partners, a fullservice branding, PR, marketing and advertising firm with offices in Jackson. The firm — based in Nashville, Tenn. — is also affiliated with Mad Genius. Contact him at todd@deanesmithpartners.com, and follow him @spinsurgeon.

SALES MOVES

August 15, 2014

I

Mississippi Business Journal

I

27

» JEFFREY GITOMER

What CEOs want to talk about (HINT: It ain’t your product)

E

veryone tells you to meet with the decision maker.

Everyone tells you to meet with the CEO. However, it seems no one offers any advice on what to SAY when you get to that meeting, what to DO when you get to that meeting, or what to ASK when you get to that meeting.

HARSH REALITY: It’s more than likely the CEO doesn’t want to meet with you, much less talk about your product or service.

The paradox is that you, the salesperson, are polishing up your presentation to make it your best one ever. But the only problem with that is the CEO doesn’t want to hear your presentation.

Most CEOs are smart people.

They like talking to smart people...

He or she is busy running a business and has little time or interest in getting down to your specific offer.

HARSH REALITY: Instead of making your presentation, why don’t you just email it to the CEO? That way, when you get there, a decision has already been made and you can talk about what the CEO really wants to talk about.

Here are the 7.5 things CEOs are interested in: 1. Productivity. Productivity has many sides. It may be the production of people or the production of a manufacturing facility. It may even be the CEO’s personal productivity. Whatever the circumstance is, productivity plays a

key role.

2. Morale and attitude. CEOs understand that attitude dictates morale and morale dictates communication both internally and externally. If employees are not happy on the inside, customers will be served poorly on the outside.

3. Loyalty of customers. A far cry from satisfaction, customer loyalty is at the heart of growing the business and increasing percentages of profit. Loyal customers will do business with you again and refer others to you.

4. Loyalty of employees. The secret to loyalty is to hire smart, happy, self-starting people with a history of success. Treat them well, pay them well, and give them success training not just on-the-job training.

5. Competition. Not YOUR competition for the sale — THEIR competition for THEIR sales.

What do you know about them and how can you help?

6. Market conditions/future. If you are able to talk market conditions and the future with the CEO, you will have their total undivided attention and respect. As a salesperson you cannot ask for more than that.

7. Profit. Everything I've just talked about has, at its core, profit and profitability. CEOs do not want to “save” money. They want to “make” money. If you understand their profit, you will earn their business.

7.5 Intellectual exchange. Most CEOs are smart people. They like talking to smart people — people that make sense, provide value, offer useful information, and want a relationship (not just a sale). Is that you?

Here are the real-world to-dos that will get you in the door PREPARED to give your presentation: • Get personally ready. Most executives have some kind of bio online. Find it and figure out what you can talk about that fits with who you are or what you do.

• Get familiar with the 7.5 things CEOs are interested in and have something meaningful to say about each. You have to know about each one from the perspective of the customer, and

then add your wisdom or your thinking.

• Have a reputation they can find. Be mindful that the CEO will Google you, find you on Facebook, look you up on twitter, check out your Jeffrey Gitomer LinkedIn profile, look for your blog, and look to see if you have any testimonial videos on YouTube.

And, you can't stop them. What they find will impact the decision that they're about to make.

How’s your reputation?

• Your first question must be emotional. It will lead you to the second — and may even lead to early rapport or common ground. Ask, “Where did you grow up?” This one question sends the decision maker on an immediate, stream of conscious, emotional journey.

Thoughts will flash about siblings, parents, friends, and growing up life. If there's a smile on his face, continue a little bit. Notice immediately that the atmosphere between the two of you is relaxed. If you have something in common say it right away. NOTE: The first question is based on your preparation and research.

• When you go from personal to business, ask before you tell. When it's time to segue into business, ask him for his knowledge of the history of his company’s use of your product or service. Get his wisdom and experience and get him talking about himself and his company in terms of you.

• Ask “who else?” It is likely you will not be working with the CEO once your sale has been made. Ask, “Who would be in charge?” Then ask, “Are they available now?” By meeting with the lower-level person you automatically have an endorsement.

Jeffrey Gitomer is the author of “The Sales Bible”, “Customer Satisfaction is Worthless” “Customer Loyalty is Priceless”, “The Little Red Book of Selling”, “The Little Red Book of Sales Answers”, “The Little Black Book of Connections”, “The Little Gold Book of YES! Attitude”, “The Little Green Book of Getting Your Way”, “The Little Platinum Book of ChaChing”, “The Little Teal Book of Trust”, “The Little Book of Leadership”, and “Social BOOM!” His website, www.gitomer.com, will lead you to more information about training and seminars, or email him personally at salesman@gitomer.com.

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