MBJ_Feb23_2018

INSIDE — Colonial Highlands project clothed in silence — Page 2 TECHNOLOGY

www.msbusiness.com

February 23, 2018 • Vo. 40 No. 8 • 16 pages

C Spire trots out its 5G technology — Page 3

COSTCO {P2}

» Supreme Court panel puts city of Ridgeland on Costco hot seat

Teresa Hubbard COLUMN {P15}

CITE Armored

Pages 8-9 including to p 10

finalists

» TODD SMITH: Apple TV app adds live news streaming

http://msbusiness.com/mississippis-top-entrepreneurs/

2 Q Mississippi Business Journal Q February 23, 2018 MADISON COUNTY

REAL ESTATE

Supreme Court panel puts city of Ridgeland on Costco hot seat

COLONIAL HIGHLANDS PROJECT CLOTHED IN SILENCE

While the appeal will eventually be decided by the full nine-member court, the appellants have gotten favorable interim rulings from individual members of the court – A three-justice panel of the Mississippi Supreme Court denying the city’s motion to expedite the hearing of the directed a preponderance of its questions to attorneys FOR appeal, and its motion to exclude statements by a city offithe city of Ridgeland and the zoning change it made that cial that, the city argued, had not been part of the record. beneďŹ ted a proposed Costco Wholesale store on Highland The three-judge panel was composed of Chief Justice Jim Kitchens and Justices Josiah Coleman and Leslie King.

Colony Parkway.

In a video of the Feb. 5 hearing on the court’s website, The city got a favorable ruling from Madison County Circuit Court John EmďŹ nger in April 2017, allowing the Sheldon Alston, attorney for the plaintiffs, recounted the developer Andrew Mattiace to move forward with what he contention that the city board of Aldermen and mayor called the third phase of the Renaissance at Colony Park surreptitiously changed zoning ordinance C-2 to allow the Costco development. open-air mall.

The city later held another meeting in which it made But the nine homeowners who sued the city in November 2015 to block the development appealed the ruling, the change in full public view, in what one of its attorneys contending that the city merely did a favor for the Costco called “an abundance of caution.�

Alston contended that such a development could only plan, which calls for a 100,000-square-foot store and gas pumps. The change in zoning of the 45-acre site also allows be allowed under C-2 if “there is a substantial change in the character of the neighborhood,� which is not the case other retailers, including drive-through restaurants. Costco Wholesale, a leading upscale discounter, features in this instance.

James Peden, one of the attorneys for the city, argued pumps at its stores, much like Sam’s Clubs.

The plaintiffs contend that the Costco would create a that the change in the ordinance was a “text change� and traffic problem along Highland Colony Parkway, which is therefore did not have to measure up to the “character lined by office parks and upscale retailers, and devalue their change� standard.

Coleman asked city co-counsel John Scanlon if an “exhomes. pert witness� stated at a public hearing called by American Heart Association Mayor Gene McGee enWe would like to thank the companies below for going dorsed the change in the red in support of women’s heart health for ordinance as good for othNational Wear Red Day. ers beyond Costco.

Scanlon said yes.

Later, Alston countered &203$1,(6 *2,1* 5(' that the witness only spoke 12 WJTV Portico Magazine Jackson Heart Study in favor of the change be16 WAPT Poter’s Insurance Kendra Scott cause it would beneďŹ t his 3 WLBT Prime Care Nursing Lampton-Love Gas Company 40 Fox Pruet Oil piece of property nearby.

Lee Michaels Jewelers 49 Tire & Auto Regions Bank LEVIS Corp.

Coleman said to Peden: Allstate, Steven James Agency Renaissance Mall Madison County Board of Supervisors “The fact that it is a text Alpha Kappa Alpha Sorority Madison Co. Economic Development Authority Renasant Bank amendment does not necBancorpSouth Results Physiotherapy Brandon MEA Clinics essarily insulate this court Baptist Hospital Results Physiotherapy Ridgeland Merit Health BKD, LLC Mississippi Agriculture and Forestry Museum Reunion Country Club [from] analyzing it [as to CenterPoint Energy Richland Upper Elementary and PTO Mississippi Board of Nursing whether] it constitutes a Century 21 Sanderson Farms Mississippi Business Journal case of spot zoning?�

Citizens National Bank Social South Mississippi Coliseum “That is correct,� Peden City of Clinton Southern Farm Bureau Mississippi Division of Medicaid said.

City of Crystal Springs Specialty Healthcare Mississippi Dyslexia Centers City of Madison Spectrum Academy Mississippi Home Care Coleman asked: “Is it a City of Ridgeland St. Dominic Hospital Mississippi Insurance Department distinction without a difCommunity Bank Mississippi State University Pan-Hellenic Council Sta-Home Health and Hospice ference then?�

CrossFit JXN TeleSouth Mississippi Tobacco Coalition Peden said the two are Department of Human Services TempStaff Mississippi Veteran’s Hospital Dickey’s BBQ judged on different stanThe Clarion-Ledger Mississippi Welcome Centers Division of Medicaid The Governor’s Mansion New Learning Resources Online dards.

Edward Jones Locations The Westin New Learning Resources, Inc. “If you’re doing a regFamilies First for Mississippi Centers Think Webstore New South Equipment ular rezoning you’ve got Fountain Construction Trustcare Clinics New Summit School to prove a neighborhood Girl Scouts of Greater MS UnitedHeatlhcare 1R 'ULS 5RRĆ“QJ Haddox, Reid, Eubanks & Betts change and public need,â€?

University of Mississippi Medical Center PMO Pharmacy Hall’s Towing Peden said.

Hallmark Cleaners But a text amendment Hancock Law Firm does not require that, Holmes Community College Peden said.

IHeartMedia

By JACK WEATHERLY jack.weatherly@msbusiness.com

Jackson Convention Center Jackson Fire Department

By JACK WEATHERLY jack.weatherly@msbusiness.com The former managing partner in the $250 million plan to build a mixed-use community on the former 152-acre Colonial Country Club property in Jackson is no longer involved in the effort.

Bo Lockard recently referred the Mississippi Business Journal to Luke Guarisco, whom he said was an original investor in the project.

Numerous calls over several weeks to Guarisco to a number provided by Lockard were not returned.

A Luke Guarisco is listed on the Internet as a principal investor in Guarisco Property Management in Baton Rouge.

Likewise, numerous subsequent calls to Lockard to get an explanation of the change in investors were not returned.

Numerous calls to two new real estate ďŹ rms, making the total at least four since the property went on the market in 2016, were not returned, though the Journal did talk briey with Chad Rigby of Rigby Advisors. The other real estate ďŹ rm is the McEnery Co. Beyond saying “we have property for saleâ€? and “we’ve gotten lots of calls,â€? Rigby said he would send Guarisco an email asking him to contact the newspaper. The Journal did not receive a response from Guarisco by publication deadline.

The investment group initially enlisted Speed Commercial Real Estate to market the property, then CBRE. Lockard said last March that things had not gone as fast as he had hoped. “We’d rather go slow and very methodically, than willy-nilly.

And if that takes another month, six months or a year, we’re going to continue to push that ball until we get all components proper to do what we’ve been approved to do.�

The city of Jackson approved a Traditional Neighborhood Development master plan, calling for 636 living units, most of which will be free-standing homes, along with attached homes as well as apartments for sale or lease.

The project got city Planning Board approval in February 2016 and the City Council stamp of approval two months later as a traditional neighborhood, a change from from special use, which is reserved for golf course, parks, churches and other community assets.

The  initial effort by the developers in early 2015 to move forward with a plan was a cause for bad blood and suspicion.

The developers sought to have the city change its zoning code to allow mixed-use development on land zoned for special use, such as parks, hospitals, churches and golf courses.

That would have allowed commercial development in those lands without public hearings.

But at a showdown at City Hall with an angry standing-room-only crowd of residents convinced the council members that was not a good idea to pursue. The developers dropped that approach.

The developers had several public meetings later in the year with residents and met with then-Mayor Tony Yarber and other city officials in developing a plan.

The group, Colonial Jackson LLC, enlisted Steven Oubre’ of Lafayette, La., a noted new urbanism architect, to oversee the design.

Meetings with Oubre’ and others in the project team won over the neighborhood associations that had strongly opposed the original concept and approach.

February 23, 2018

Q

Mississippi Business Journal

Q

3

TECHNOLOGY

C Spire trots out its 5G technology

By JACK WEATHERLY jack.weatherly@msbusiness.com

C Spire publicly tested its 5G ultra-fast fixed-wireless technology on Tuesday, and brought along an FCC commissioner to cheer it on.

Brendan Carr, is in the 3-2 Republican majority that overturned the Obama-era imposition of rules intended to ensure a level Internet playing field and protection of consumers.

Instead, Carr has said, the opposite happened. Investment and innovation was curbed and broadband expansion was slowed. Critics still fear the effects of the loosening of regulations.

The Democrat-majority commission in 2015 applied Title II of the 1934 Communications Act to broadband communications and reclassified service providers as common carriers to be held to standards similar to telephone, gas and electric providers.

Carr has been designated as the agency’s lead on wireless infrastructure deployment.

Hence, he lauded C Spire’s new 5G technology developed by Santa Clara, Calif.-based Cohere Technologies.

“We need to drive out unnecessary regulatory costs and speed the timeline for obtaining permits so that companies can build and deploy the infrastructure that will power our digital economy,” Carr said in a release issued Tuesday at the Ridgeland-based telecom’s headquarters.

The broadband expansion is part of the C Spire Tech Movement announced in September.

In a 2016 report, the FCC put Mississippi at or near the bottom in terms of broadband access.

A key feature of C Spire’s Tech Movement is its expansion of of broadband and 5G fixed wireless Internet access to more than 250,000 consumers and businesses across the state and one of every five of the 250,000 businesses in the state.

C Spire President Stephen Bye and Cohere Technologies Chief Executive Shlomo Rakib, said in the release that 5G speeds will pave the way for a wider adoption of existing technology such as Internet of things, smart cities, artificial intelligence, telehealth and telemedicine as well as encouraging futuristic things such as self-driving autos.

» FCC commissioner Brendan Carr (left) and C Spire President Stephen Bye discuss cutting-edge technology.

JACK WEATHERLY/MBJ

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MAEP data show interesting reality

Website: www.msbusiness.com February 23, 2018 Volume 40, Number 8

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» INSIDE MISSISSIPPI

Trumponomics may cause debt interest costs to skyrocket

B

asic math and what the Wall Street Journal calls “Trumponomics” are headed for a brutal collision.

Here’s why.

The national debt is $20.6 trillion and rising. With rates low, annual debt interest costs averaged about $250 billion from 2011 through 2016. As the economy improved, interest rates slowly ticked up. But, now they are expected to surge as the stimulus jolt to an economy already at full employment from Trump’s $1.5 trillion tax cut package plus over $300 billion in added government spending drive up inflation – and interest rates – over the next ten years.

Oh, those tax cuts and spending will also push annual deficits above $1 trillion for the foreseeable future, jacking up the debt even more as interest rates surge.

Basic math says higher interest rates times huge and growing debt equals much higher interest costs.

How high?

The Peter G. Peterson Foundation, created to raise awareness of America’s long-term debt and how it affects economic growth, projects “interest costs will triple over the next 10 years, soaring from $269 billion in 2017 to $818 billion in 2027.”

Even worse, the Foundation says in-

Bill Crawford

terest costs “are projected to be the third largest category in the federal budget by 2026 (after just Social Security and Medicare), the second largest category in 2046, and the single largest category before 2050.”

Larger than Social Security and Medicare? Wow! Surely, “conservative” Republican leadership can do this basic math?

Maybe not.

“When Democrats are in power, Republicans appear to be the conservative party, and when Republicans are in power, there is no conservative party,” Sen. Rand Paul told TIME Magazine. While on the Senate floor he said, “I can’t in all good honesty, in all good faith, just look the other way because my party is now complicit in the deficits.”

Former conservative Republican Rep. Jason Chaffetz chimed in, telling Fox Business, “Republicans have lost every single bit of credibility on the idea that they care at all about debts and deficits.”

Sounds like reducing deficits and debt is not a real Republican issue, just one that plays well with the base.

Case in point: In 2013 Sen. Mitch McConnell said, “the most important See CRAWFORD, Page 5

igures released recently that compare the funding amounts between the Mississippi Adequate Education Program and a newly proposed funding formula currently going through the legislative process paint an interesting picture of the future of public schools in Mississippi.

The MAEP is what’s currently used to provide the state’s share of funds to operate local school districts and is also the single largest expenditure of state funds. It’s also been underfunded by about $2.2 billion since 2008 and has only been fully funded twice since enacted in 2003.

Rewriting the formula has been a topic of conversation in Jackson for many years. It finally picked up steam last year. The latest proposal to revamp the funding model comes in the form of an initiative out of the House called the Mississippi Uniform Per Student Funding Formula Act. The MAEP provides local school districts a minimum level of funding derived from calculating the cost to operate efficiently run “adequate,” or C-level, school districts. The poorer the school district, the more the state contributes to that minimum level of funding in an effort to ensure a certain degree of equity in school districts throughout the state.

The new proposal will start with a base student cost of $4,800 and provide a certain amount of additional money for certain categories of students, such as poor students, gifted students or special needs students. An add-on will even be provided for high school students. The plan is to phase in the new formula over seven years.

Numbers compiled by the pro-public education advocacy group the Parents Campaign show that if funding for the MAEP continues to increase at the same rate it has for the past six years, it would provide a total of $2.44 billion in state funds for the local school districts in 2025. The new House proposal would provide $2.31 billion, as reported by the Daily Journal’s Bobby Harrison.

A fully funded MAEP would provide $292.1 million more than the House proposal.

The House proposal must be passed out of committee in the Senate by Feb. 27 or it will die.

House Speaker Philip Gunn says his proposal is easier to understand and more reliable for local school districts than the Adequate Education Program. At first, the House leadership touted that their plan would produce more funds for local school districts than MAEP. But when it became obvious that legislative leaders were comparing what an MAEP, underfunded by the Legislature, produced in the current school year to what their fully phased in formula would generate in 2025, they started using the argument the state could not afford the Adequate Education Program.

This is where we’ve continued to disagree with legislative leaders.

Apart from the little transparency and stakeholder input sought during such significant efforts, the arguments for why a new formula is needed seems to change every week.

Simultaneously underfunding MAEP and saying it’s a broken formula is contradictory on many levels.

We urge leaders to re-evaluate the proposal at hand before irreversible damage is done to our public schools through even more significant underfunding.

— Northeast Mississippi Daily Journal

PERSPECTIVE

February 23, 2018 I Mississippi Business Journal

» RICKY NOBILE

CRAWFORD

I

5

Continued from Page 4

issue confronting the future of our country is our deficit and debt.” That’s the same Mitch McConnell who just ignored the deficits and debt to pass the tax cuts and budget bill.

Tom Nichols, a professor of national security affairs at the Naval War College and self-proclaimed long-time Republican, expressed the growing consternation among many long-time Republicans in a USA Today op-ed.

“Republicans once believed in limited government, fiscal restraint, support for the defense and national security establishments, family values, and a strong American role in maintaining global order,” he wrote. “More than that, we were the party that believed in logic and prudence over emotion. Our hearts were perhaps too cold, but never bleeding. Today’s Republicans, however, are a party of bellowing drama queens whose elected representatives blow up spending caps, bust the deficit, and attack America’s law enforcement and national security agencies as dangerous conspirators.”

So maybe the problem is much larger than not knowing basic math. It’s not having and adhering to real tenets of conservative Republicanism.

Bill Crawford can be reached at crawfolk@gmail.com.

»INSIDE MISSISSIPPI

Analysis: Plan tries to slow brain drain from Mississippi

M

ississippi has a bright-lights-big-city problem, with a significant numbers of college graduates earning their degrees in this mostly rural state and then departing for bigger paychecks and expanded cultural opportunities in Atlanta, Dallas, Nashville and beyond.

Not everybody packs the car and heads out once they have a diploma in hand. But brain drain is common enough that some policymakers are starting to recognize it as a long-term problem for the economic well-being of Mississippi, which has long been one of the poorest states in the nation.

House Bill 1550 passed the House with broad bipartisan support last week. It offers tax breaks to people who earn bachelor’s degrees or professional degrees and then either stay in Mississippi, or move into the state, to work. If the bill becomes law, grads could essentially skip paying state income tax for three years. The breaks could extend two more years if those people buy real estate, start a business that employs at least two people or work as K-12 teachers.

“We’re hoping this will entice some of our best and brightest to stay here,” Republican Rep. Trey Lamar of Senatobia, one of the bill’s authors, told his House colleagues during a debate.

Promoters say the idea is to keep or attract college grads in the hopes that they will put down roots in Mississippi and maybe start their families. A relatively short-term hit to state tax revenue could turn into a long-term gain if people settle in for the long term and keep earning in Mississippi, paying their income taxes once the breaks expire.

Democratic Rep. Adrienne Wooten of Jackson, who is an attorney, asked Lamar why the tax breaks should be limited

to recent college graduates. Specifically, she said: “I’m curious why I’m not getting the tax exemption. … I’m tired of paying Uncle Sam like the next person.”

Others in the chamber probably shared that sentiment — and the question is likely to arise in other discussions about the bill, both inside and outside the Capitol.

Another valid question: Why not offer the tax breaks to people who earn degrees from community colleges but don’t pursue or complete a four-year degree? Plenty of people with two-year degrees might be tempted to move out of state to earn more money. Aren’t they also in the “best and brightest” category?

The bill passed the House 118-0, and moves to the Senate for more consideration.

Only slightly more than half of the people who graduate from Mississippi’s eight public universities are still working in the state five years after they graduate, according to a report prepared for the state College Board in 2016. Those most likely to leave were in engineering, math and physical sciences, where paychecks are likely to be larger.

Republican Lt. Gov. Tate Reeves, who presides over the

Emily Pettus

Senate, contends the retention numbers for grads are not as bad as they look. He says many students come from other states to attend college in Mississippi and they could be returning home once they earn their degrees.

Promoters say the idea is to keep or attract college grads in the hopes that they will put down roots in Mississippi and maybe start their families.

Mississippi’s population is about 2.98 million, but figures released by the Census Bureau in December showed that the state has lost population three years in a row. From July 2016 to July 2017, the net decrease was about 1,300 people. There were about 6,500 more births than deaths in Mississippi during that year, but about 8,000 people moved to other places. West Virginia and Illinois were the only states that have lost population for more consecutive years than Mississippi.

Emily Wagster Pettus covers Capitol matters for the Mississippi Associated Press in Jackson.

6 Q Mississippi Business Journal Q February 23, 2018 LAW ELEVATED

Opportunity Funds — The new tax bill’s incentive to spur investments into certain community development projects

Background The 2017 Tax Cuts and Jobs Act, enacted Dec. 22, 2017 (the “Act”), offers new tax incentives aimed at benefiting low-income communities (“LICs”) (as defined under the new markets tax credit (“NMTC”) regulations) through the creation of Qualified Opportunity Zones (“Opportunity Zones”). Congress believes the Opportunity Zone legislation will encourage investments that will be used to start businesses, develop abandoned properties and provide low-income housing in low-income, economically distressed communities. The Act allows for creation of Qualified Opportunity Funds (“Opportunity Funds”) to serve as the investment vehicles to drive the new incentive.

Generally, taxpayers with capital gains from the sale or exchange of property may, within 180 days of the disposition, invest such gain in an Opportunity Fund and defer recognition of the gain for federal income tax purposes. The Opportunity Funds will use the investment proceeds to acquire partnership interests or stock in a qualified opportunity zone business (“Qualified Business”) or to purchase and/ or substantially improve certain property in an Opportunity Zone.

Opportunity Zones Explained Opportunity Zones are LICs that are nominated by the chief executive officers of states or U.S. possessions, and certified by the Treasury Secretary. The Conference Report for the Act states that the CEOs should give particular consideration to LIC census tracts that “(1) are currently the focus of mutually reinforcing state, local, or private economic development initiatives to attract investment and foster startup activity; (2) have demonstrated success in geographically targeted development programs such as promise zones, the new markets tax credit, empowerment zones, and renewal communities; and (3) have recently experienced significant layoffs due to business closures or relocations.” Under the Act’s time-line, Gov. Phil Bryant will have until March 21, 2018 to make his Opportunity Zone nominations in writing (although he can request and receive a 30-day extension). Generally, the Treasury Secretary will certify and designate the approved tracts as Opportunity Zones within 30 days after receiving a governor’s nominations.

Up to 25 percent of the eligible LIC tracts in a state may be designated as Opportunity Zones. In addition to the LIC census tracts, a non-LIC census tract contiguous

with an Opportunity Zone may also be designated as an Opportunity Zone if it has a median family income of not more than 125 percent of the median family income of the zone that is contiguous; however, not more than five percent of the 25 percent may be designated this way. Based on the 2011-2015 American Community Survey data provided by the Census Bureau (the applicable reference), Mississippi currently has 401 eligible LIC census tracts. Thus, approximately 101 LIC census tracts may be nominated by Governor Bryant to be designated as Opportunity Zones. On Feb. 8, 2018, the IRS issued Revenue Procedure 2018-16 to provide detailed guidance to the CEOs regarding the procedure for designating Opportunity Zones, including calculation of the number of eligible primary and contiguous tracts, etc.

Opportunity Fund Organization To qualify as an Opportunity Fund under the Act, the entity that receives the capital gain investment must be organized as either a corporation or a partnership and be certified by the Department of Treasury.

The Opportunity Fund will then use the investment proceeds to (a) acquire stock or a partnership interest in a domestic corporation or partnership that is a Qualified Business, or (b) acquire or substantially improve certain tangible business property used in an Opportunity Zone. Thus, the investor’s upside return potential on his reinvested capital gain will be driven by the success of the underlying project (i.e., the Qualified Business) into which the Opportunity Fund invests. Contrast this with the investor’s return in the NMTC program, where the investor gets a defined federal and/or state income tax credit in exchange for investing in a NMTC project.

What is a Qualified Business?

A Qualified Business is defined in the Act as a trade of business in which substantially all of the tangible property owned and leased by the taxpayer is qualified opportunity zone business property (“Qualified Property”). Qualified Property, in turn, means tangible property: (a) used in a trade or business of the Qualified Business, (b) acquired by the Qualified Business by purchase after December 31, 2017, (c) the original use of which starts with the Qualified Business or the Qualified Business substantially improves such property, and (d) substantially all the use of which occurs in an Opportunity Zone while held by the Qualified Business. However, as with NMTC projects, the Act specifically pro-

hibits the following “sin” businesses: any private or commercial golf course, country club, massage parlor, hot tub facility, suntan facility, racetrack or other facility used for gambling, or any store the principal business of which is the sale of alcoholic beverages for consumption off premises.

Also, at least 50 percent of the total Qualified Business’ gross income must be derived from the active conduct of such business and the average of the aggregate unadjusted bases of the Qualified Property attributable to “non-qualified financial property” must be less than five percent (these tests are similar to those found in the NMTC provisions for active LIC businesses).

Mechanics of the Incentive As an up-front benefit, in exchange for rolling over his capital gain into an Opportunity Fund, a taxpayer will defer income recognition of the gain for federal tax purposes. Initially, the taxpayer will have zero basis in his Opportunity Fund investment.

Thereafter, if the taxpayer sells his Opportunity Fund investment within five years, he will recognize all of the deferred capital gain at that time. If he holds the investment for at least five years, then the basis in the investment will be increased to 10 percent of the amount of gain deferred, resulting in the taxpayer recognizing 90% of the initial capital gain that was reinvested.

If the taxpayer holds the investment for at least 7 years, the basis is increased by an additional 5 percent of the deferred gain, resulting in the taxpayer recognizing 85% of the initial capital gain. If the investment is held for at least 10 years and then sold or exchanged, the taxpayer can elect to have the basis be equal to the fair market value (“FMV”) of the investment on the date of disposition.

An important quirk in the Act as currently written, however, is a provision for mandatory recognition of the deferred gain on December 31, 2026. Thus, even if an Opportunity Fund investment is held for more than ten years, a taxpayer will not be able to completely escape tax on more than 15 percent of the initial capital gain invested. For example, assume a taxpayer makes an Opportunity Fund investment on April 1, 2018 and sells his interest on April 2, 2029 (an 11 year holding period). On Dec. 31, 2026, the statutory gain recognition trigger date, the taxpayer will have held the investment for at least seven years and thus be entitled to a basis allocation of 15 percent. The taxpayer would have to recognize 85 percent of the original

deferred gain on Dec. 31, 2026, even though his interest has not been sold. This type of gain is often referred to as “phantom gain” because even though it must be recognized and Alveno N. Castilla tax paid accordingly, the taxpayer has not realized any actual liquidity.

There is some speculation based on the early analysis of the Act that Congress may (and should) reconsider this 2026 mandatory gain recognition provision.

Ashley N. Wicks Continuing with the above example, if the taxpayer sells the Opportunity Fund investment for FMV and makes the FMV basis election (which he would be entitled to do, having met the 10 year holding period requirement), he will not recognize any additional gain. Remember that the taxpayer will have already recognized the 85% phantom gain on Dec. 31, 2026, and so this means that he gets to fully exclude from income any appreciation on his Opportunity Fund investment that might have occurred over the 11 year period.

In summary, the Opportunity Zone provisions give incentive to potential investors in Opportunity Funds by allowing for (a) temporary deferral of capital gain recognition, (b) a possible step-up in the basis of their investment, and (c) possible permanent exclusion of capital gains from the growth of the Opportunity Fund investment if the holding period is at least 10 years.

The new Opportunity Zone program has the potential to unlock huge amounts of investment capital which can be directed into LICs that desperately need the infusion for business and community development and redevelopment. Since the performance of the underlying Qualified Business activity under the Opportunity Fund rubric will drive a potential investor’s return on his investment in the fund (which introduces a different risk profile and analysis than the NMTC program, for example), it remains to be seen if this program, with its current parameters, will take hold and push significant investment into LICs. Alveno N. Castilla and Ashley N. Wicks , attorneys at Butler Snow.

on being named 2018

TERESA HUBBARD

www.citearmored.com

2018 Business Woma

TERESA HUBBAR CITE Armored

Courtesy of Stegall Imagery

The Top Ten

Tami Jones, MBJ Associate Publisher (left), Teresa Hubbard, 2018 Business Woman of the Year (middle) and Nancy Carpenter, 2017 Business Woman of the Year (right).

Teresa Hubbard, president and CEO of CITE Armored, was named Mississippi’s Business Woman of the Year for 2018 Thursday by the Mississippi Business Journal.

Hubbard was joined by 10 finalists and 39 other honorees at an event at the Old Capitol Inn in Downtown Jackson.

Hubbard has a broad range of experience that continues to enhance the success of the company she opened in 2002 to manufacture cash-in-transit equipment and vehicles in Holly Springs.

She is experienced at operating a small business and has the expertise need to run the organization. She previously was controller at Griffin, Inc., in Byhalia, and was a public and tax accountant in Memphis.

Hubba Compute sity.

Hubba Operator Commer the ATM Associati Associati to Comp She live abeth. Sh and work

AMY BOTELER

ROSARIO BOXX

ELIZABETH CRISLER

Neel-Schaffer Inc.

Mississippi Development Authority

Liquid Creative

Amy Boteler never expected to be working for the company her father co-founded. A graduate of Belhaven College with a Psychology degree and a Mississippi Real Estate Brokers License with over a decade of real estate experience, what could she possibly do for one of the South’s largest civil engineering firms?

As it has turned out, plenty.

After the real estate crash of 2008, Boteler joined Jackson-based Neel-Schaffer, Inc., in 2012, working the company’s accounts receivable collections.

She was later promoted to Executive Director of Real Estate Development, and she now manages development for Sweetbriar Plantation, a Madison County residential development owned by Neel-Schaffer.

She is president and treasurer of the homeowner association, and she is managing phase II development that will double the size of the subdivision to more than 100 lots. Boteler is also a co-broker with her husband, Ben, for Boteler Real Estate, LLC, and BRE Construction, LLC. Boteler is a member of the Junior League of Jackson, Executive Women International, and the National Association of Realtors. She is married to her best friend, Ben, and says her greatest role is being mom to Jackson, 8, Neel, 7, and Adele, 3.

She feels she owes her success to her parents, Susan and Hibbett Neel, who taught her that family is the ultimate gift.

Rose Boxx is the director of the Mississippi Development Authority’s International Trade Office. Her primary responsibility is the development and implementation of the agency’s international business programs and services and supervision of the senior international trade specialists, foreign trade representatives, STEP Grant, and protocol office.

Previously, Boxx served as a bureau manager in the Trade Office and as a senior international trade specialist for Latin America and the Caribbean.

Prior to her position in international trade, Boxx was a community assistance specialist in the Community Services Division of MDA. A graduate of the University of Southern Mississippi, she holds a Bachelor’s degree in Journalism and an MBA from Belhaven University.

Boxx is a native from Peru, South America. She grew up in several countries in South America including Venezuela, Colombia, and Chile. She came to the U.S. in 1990 and has lived in Mississippi ever since.

Rose lives in Madison with her husband, Tommy, and their son, Alex.

In 1999, Elizabeth opened a branch of the Dallas agency Squires & Co., but purchased the branch in 2003 and changed the name to Liquid Creative. She is president of the agency.

Elizabeth’s marketing and advertising experience includes telecommunications, finance, national exhibitions, land development, law, retail, medical, and non-profits. She directs all aspects of account service, from budget planning through strategic planning and implementation.

Previously, she held several positions in Jackson, including CommuniGroup marketing director, The Ramey Agency account executive, Maris West & Baker account executive, ConstructionGroup marketing director, and Butler Snow legal assistant.

Elizabeth was recognized earlier this year by Mississippi Business Journal as a Top Mississippi CEO. She earned her AA degree at Hinds Community College and her BS in business from Belhaven University.

Elizabeth is an artist, interior decorator, seamstress, and avid collector of glassware, vintage jewelry and purses, furniture, and ‘60s pop culture items.

ZETELLA GOOCH

KRISTEN LEY

PAULA MCNAIR

Gooch Consulting and Event Service, LLC & BNI MS

Thimble Press

Atmos Energy

Zetella Gooch is the owner of Gooch Consulting and Event Services, LLC, which provides complete consulting for special events and celebrations.

Its consultation is backed by many years of event-planning experience. From weddings, reunions, parties, promotional affairs, organizations or corporate conferences, it can strategically plan, design, organize and supervise your event from start to finish.

She started as a member of Business Network International, a business and professional referral organization, several years ago as a Strategic Event Planner. As a member of BNI, she has served in various areas of leadership including: President, Events Coordinator, GrowthCoordinator, Education Coordinator, and Ambassador.

She has also served as Director Consultant for several chapters in the Central and Southern Mississippi Region.

She is now the Area Director Consultant for the State of Mississippi and is responsible for the coordination of BNI Director Consultants and Ambassadors. She maintains 13 chapters covering the Jackson area, Hattiesburg, Starkville, Columbus and Laurel.

Dressing up as an artist at her kindergarten career day was the first step Kristen took in the direction of being an artist as a profession.

She knew at an early age what creating art and beautiful things meant. Both her grandmothers were avid seamstresses and craft gurus. She grew up loving hands-on projects and anything that involved paint.

Kristen went on to Mississippi State where she did not even hesitate to choose her major. She went into college knowing she was going to be an art major with an emphasis in graphic design. After graduation in 2007, Kristen opened up Cultigraphic Creative with fellow MSU classmate Catherine Yerger. Both of them had a passion for art and design which translated nicely into design work for their long list of clients.

In 2011, Kristen and she purchased a 1925 10 x 15 Chandler + Price press and hauled it back to Mississippi. With the press acquired she decided to open up Thimblepress.

Kristen has made Thimblepress a reflection of her life, love of her family, and her favorite places in the world; one of them being Mississippi.

Paula McNair is the Vice President of Atmos Energy, where she supervises development and manages annual capital and expenses with a budget of more than $100 million.

Having been there since 2009, she performs quarterly forecasts and reconciles variances between budget and actual results, manages the finance department that operates the customer information system. McNair is responsible for the daily operation of Mississipp division financial activities.

Prior to her arrival at Atmos, McNair with the operations manager and controller for Kalalou (formerly Country Originals). And since 2014 she has been on the board of directors at the Mississippi Council of Economic Education. She also has worked with Deposit Guaranty and Trustmark National Bank.

McNair is a 1993 graduate of Belhaven University.

an of the Year

RD

pi

4

SISTER MARY DOROTHEA SONDGEROTH - St. Dominic - 2000

Mandi Arinder

GAIL PITTMAN - Gail Pittman, Inc. - 2002 DR. FRANCES LUCAS - Millsaps College – 2003 ELEANOR ROGERS – Quality Hospice and Quality Healthcare – 2004 D’AUBY SCHIEL – Community Bank Coast – 2005 LINDA C. WATTS – Mississippi Power Company – 2006

ard is a member of Independent Armored Car rs Association, Marshall County Chamber of rce, the Secure Cash and Transport Association, M Industry Association, Kappa Delta Alumni ion, LOU Humane Society, Delta State Alumni ion, U of M Athletic Foundation, and contributes passion Ministries. es in Oxford with her two children, Ben and Elizhe enjoys reading, travel, cooking, watching sports k.

-

REMAINDER OF 2017 CLASS Amanda Alexander

Alexander Law P.A. Rankin County Chamber of Commerce

ROBYN TANNEHILL - GodwinGroup - 2001

ard received her B.B.A in Accounting and B.B.A in er Information Systems from Delta State Univer-

.

PREVIOUS RECIPIENTS OF BUSINESS WOMAN OF THE YEAR

JANE R. DENNIS - Corporate Secretary-Treasurer – 2007 KATHRYN H. HESTER – Watkins Ludlam Winter & Stennis – 2008 JOEY F. GARNER – TEC – 2009

EQ Health

Wendy Barnes

Hinds Community College

Kay Brodbeck

Mississippi Safety Service

D’Anna Broussard Kenya Collins

JANET SULLIVAN – MDOT - 2010

Tammy Cotton

ROSI JOHNSON – Mississippi Music - 2011

Patrina Dace

Cintas Corporation Mississippi Action for Community Education Paige Consulting Kaleidoscope of Learning

DANA HARBERS - UMC - 2012 MENDE ALFORD - Old Capitol Inn - 2013

Lindsey Dancy

Community Bank

PAT THOMASSON - Thomasson and Company - 2014

Tina Demoran

Seymour Law Firm, PLLC

FELICIA GAVIN - DiamondJacks Casino - 2016

Marlo Dorsey

Hattiesburg Tourism Commission

NANCY CARPENTER - Columbus Convention & Visitors Bureau - 2017

Bethany Edwards

ROSEMARY SMITH - R & R Rentals and Hotshot, Inc. - 2015

DONNA GARDNER

SUSAN GARRARD

Ingalls Shipbuilding

Mississippi Children’s Museum

Donna Gardner, Director of Material Cost Analysis, is responsible for directing the material cost control, cost price analysis, and new business support functions within the Supply Chain Management organization at Ingalls Shipbuilding, a military shipbuilding based in Pascagoula.

In this role, she is accountable for ensuring the integration of procurement specifications and budgets with the program schedules to manage, control, and report program performance for $1.1 billion in material. Her other responsibilities include providing the material cost and price analysis necessary for submitting and negotiating multi-billion dollar new proposals.

Donna has more than 35 years of experience at Ingalls Shipbuilding, which includes positions with increasing responsibility in Industrial Engineering, Supply Chain Management, and Program Management.

Her prior experience included DDG 1000 Program Integration Manager, LPD 24 Cost Manager as well as Material Cost Specialist in Supply chain Management.

Donna holds a MBA from William Carey University and a Bachelor’s degree in Business Administration from the University of Southern Mississippi.

Annie Baker

Susan Garrard has been President of the Mississippi Children’s Museum since 2008.

Before becoming President, she was a member and then chairman of the museum’s Board of Directors. She was also the first president of the museum’s support group, MCM Partners, which has over 300 members statewide.

Since 1984, she has served on the boards of the Belhaven Neighborhood Foundation, Jackson Prep and the Junior League of Jackson, where she was president in 2002-2003. Garrard is a graduate of Mississippi State University and the Fashion Institute of Technology, State University of New York in New York City.

Garrard was responsible for the $26.6 million capital campaign that realized the dream of a 40,000-square-foot children’s museum in Jackson. She was primarily responsible for the project management of the museum’s permanent exhibits from 2008-2010. Under her leadership, the museum received the KidsCount Program of Promise award which recognizes organizations that improve the well-being of children and families in Mississippi communities as well as the Mississippi Tourism Association’s Attraction of the Year in 2011. She is on the international Association of Children’s Museums’ board of directors.

She was awarded a Goodwill Community Volunteer of the Year in 2009, and received the Youth Villages Tribute of Excellence in 2013.

Wendy Ellard Mary Margaret Gay Kristena Gaylor Karen Howell Nashandra James Beth Jeffers Tiffany Johnston Andrea Jones-Davis Marlo Kirkpatrick Vickie Martin Leigha McLendon

Trustcare Baker Donelson Maron Marvel Bradley Anderson & Tardy Mississippi College Brunini, Grantham, Grower & Hewes, PLLC Madison County Schools The Fitness Factor Fisher Brown Bottrell Ins. Tougaloo College Kirkpatrick & Porch Creative Mississippi Development Authority Bank Plus

Betsey Mosby

Betsey Mosby Interior Design, LLC

Jonnette Moss

Origin Bank

Anna Neel

The Cirlot Agency

ELIZABETH RANDALL

RASHIDA WALKER

Kristin Panetta

Elle James Bridal

Randall Commercial Group

W Real Estate, LLC

Michelle Parisi

Camgian

Elizabeth Randall is the Owner and President of Randall Commercial Group, a commercial real estate investment and advisory firm. In this role, she supervises the Randall Commercial Group team members, advising on all deals in which the firm is engaged. She also facilitates the growth of the client base and advises on strategies and opportunities for commercial investment real estate. Randall directs property and economic research, which is used to determine viable opportunities for investment properties and development opportunities within markets. Overall, she mentors the team to ensure that their clients have the best experience and that their team is preserving and building our clients’ wealth one property at a time.

Randall graduated from Ole Miss in 2003 with a double major of banking and finance and managerial finance. She also received her MBA from Ole Miss in 2005.

Rashida Walker is a Real Estate professional, a prayer warrior and mentor to many in her profession. A graduate of Jackson State University, she worked 10 years as a marketing rep for a telecommunications firm, SkyTel, a division of WorldCom. In 2007, Rashida was licensed as a Real Estate agent. A native of Jackson, Rashida and her husband Felix Walker are known the local market as Team Walker. She primarily specializes in residential sales and listings.

Rashida and Felix most recently took a leap of faith and opened their own full-service real estate brokerage in March of 2016 – W Real Estate, LLC. Year after year Rashida has consistently been recognized as a multi-million dollar top producer. From 2013-2016 Team Walker has sold over 200 Homes with excess of $30 million sales.

Rashida and Felix have been married for 21 years. They have three daughters, Jessica (26), Jaeda (20) and Brooklyn (12), one granddaughter, Kalani Grace, and one grandson, Legend. They reside in Madison.

Dorothy Pernell

Greenwood Chiropractors

Jessica Phillips

O! How Cute

Lisa Reppeto

Jones Walker

Erin Smith Jennifer Stanley Sara Stockton Zakiya, Summers Robin Taylor Karla Tye Jennifer Young-Wallace

AARP Foundation The Salvation Army Magnolia Regional Health Center Lady Godiva Productions Ogletree Deakins Children Advocacy Centers of MS Jackson State University

10 Q Mississippi Business Journal Q February 23, 2018

Business Woman of the Year

The 2018 Business Woman of the Year event was held at the Old Capitol Inn in Jackson on February 15.

ZAKIYA SUMMERS As a member of the Mississippi Business Journal’s

Outstanding Job & Wishing You Much Success!

Mother and Dad (Leonard & Veniti), Marvin, Mason, Mathis, and Leonard II

BE A LIVING LEGEND. You could build your own legacy with the Regions Riding ForwardÂŽ Scholarship Essay Contest.

Col. Charles E. McGee, USAF Retired Tuskegee Airman

Regions is proud to celebrate Black History Month by helping the next generation create legacies of their own with the Regions Riding Forward Scholarship Essay Contest. To empower the next generation of leaders, we’re awarding scholarships to high school and college students. Because young people continue to make history every single day, just as Col. Charles E. McGee and the Tuskegee Airmen made history by being the first African-American aviators in the United States Armed Forces.

Tell us about an African-American who has inspired you, and you could earn a $5,000 or $3,500 college scholarship.* Learn more at regions.com/ridingforward.

Š 2018 Regions Bank. Charles McGee name, images and references used with the express permission of Charles E. McGee. Tuskegee Airmen name and marks used with the express permission of Tuskegee Airmen, Inc. All rights reserved. *NO PURCHASE OR BANKING RELATIONSHIP REQUIRED. PURCHASE OR BANKING RELATIONSHIP WILL NOT INCREASE YOUR CHANCES OF WINNING. VOID WHERE PROHIBITED. The 2018 Regions Riding Forward Scholarship Essay Contest begins on 01/15/18 and ends on 02/28/18 at 11:59:59 PM CT and is *+ ) *)'4 /* -/ $) $"# #**' /0 )/. ) *'' " /0 )/. 2#* ( / /# '$"$ $'$/4 - ,0$- ( )/. . -$ $) /# Č‚$ $ ' 0' .Ńľ / /$( *! )/-4Ńś Ň— Ň˜ $"# #**' /0 )/ (0./ ' " ' Ńľ Ńľ - .$ )/ *! *) *! /# '$"$ ' / / . ) )-*'' $) Ń€Ń /# "- $) +0 '$ *- +-$1 / . #**' Ň—*- #*( . #**'Ň˜ '* / $) *) *! /# '$"$ ' / / .Ńś ) Ň— Ň˜ *'' " /0 )/ (0./ !- .#( )Ńś .*+#*(*- *- %0)$*- 0-- )/'4 )-*'' $) ) - $/ *'' " $) /# Ńľ Ѿќ ) $/# - Ň—$Ň˜ ' " ' Ńľ Ńľ - .$ )/ *! *) *! /# '$"$ ' / / . *- Ň—$$Ň˜ ' " ' Ńľ Ńľ - .$ )/ Ň—*! *) *! /# Ń„Đż )$/ / / . *- Ńľ ŃľŇ˜ )-*'' $) ) - $/ *'' " '* / $) *) *! /# '$"$ ' / / .Ńľ Ň— *- +0-+*. . *! *)/ ./Ńś /# Ň‚ '$"$ ' / / .Ňƒ - ‍ )ޔ‏. /# ./ / . *! Ńś Ńś Ńś Ńś Ńś Ńś Ńś Ńś Ńś Ńś Ńś Ńś Ńś ) ŃľŇ˜ $.$/ - "$*).Ńľ *(Ň?-$ $)"!*-2 - !*- *(+' / *)/ ./ '$"$ $'$/4 ) .. 4 - ,0$- ( )/.Ńś *)/ ./ / $'. ) Č‚$ $ ' 0' .Ńľ '$"$ ' )/-$ . 2$'' "-*0+ *- $)" /* ./0 )/Ň . ./ /0. Ň— $"# #**' /0 )/ *- *'' " /0 )/Ň˜ ) ..* $ / '$"$ ' / / Ńś ) %0 " 4 + ) ' *! $) + ) )/Ńś ,0 '$‍ ޔ‏%0 " .Ńľ $Č… ) Ň—Ń€Ń„Ň˜ $"# #**' /0 )/ -$5 . Ň—*) + - '$"$ ' / / Ň˜ 2$'' 2 - *).$./$)" *! # & $) /# (*0)/ *! ‍ڌ‏фќппп ( *0/ /* 2$)) -Ň . - $/ *'' " Ńľ $Č… ) Ň—Ń€Ń„Ň˜ *'' " /0 )/ -$5 . Ň—*) + - '$"$ ' / / Ň˜ 2$'' 2 - *).$./$)" *! # & $) /# (*0)/ *! ‍ڌ‏тќфпп ( *0/ /* 2$)) -Ň .

- $/ *'' " Ńľ +*).*-ѡ "$*). )&Ńś Ń€ŃˆĐżĐż $Č…# 1 Ńľ Ѿќ $-($)"# (Ńś Ń‚Ń„Ń ĐżŃ‚Ńľ Ňž "$*). ) /# "$*). '*"* - - "$./ - /- ( -&. *! "$*). )&Ńľ # $! - ) *'*- $. /- ( -& *! "$*). )&Ńľ

12 Q Mississippi Business Journal Q February 23, 2018

Business Woman of the Year

TOGETHER. StandUpMS.org

DMH Mississippi Department of Mental Health

Supporting a Better Tomorrow...One Person at a Time

Stand Up, Mississippi is a statewide initiative to end the opioid crisis and inspire all Mississippians to work together to create a stronger and healthier future.

Together, we can end the opioid crisis.

The Mississippi Economic Council is proud to congratulate the “Top 50 Women in Business!”

Special Congratulations to All of the “Top 50 Women in Business” for 2017!

Thank you for being an inspiration to us and the rest of Mississippi.

The contributions made by women who are leaders within the business community throughout Mississippi have brought about positive change in our state’s economic competitiveness, educational achievement and quality of life.

Your involvement helps ensure a brighter future for Mississippi.

www.mec.ms

MEC … a proud sponsor of “Top 50 Women in Business” for nearly two decades.

P.O. Box 23276 ࠮ Jackson, MS 39225-3276 (601) 969-0022 ࠮ 1-800-748-7626 ࠮ Fax: (601) 353-0247 or 1-888-717-2809

Newsmakers

14 Q Mississippi Business Journal Q February 23, 2018

Scott-Bracey honored

Pamela Scott-Bracey, an assistant professor since 2013 in Mississippi State University’s Department of Instructional Systems and Workforce Development, recently was named Collegiate Teacher of the Year by the Southern Business Education Scott-Bracey Association.

A National Business Education Association affiliate, SBEA represents instructional, administrative and research professionals in a dozen states stretching from Virginia to Louisiana.

Bracey is director and co-founder of MSU’s Global Academic Essentials Teacher Institute, a summer institute designed to equip teachers with strategies and tools necessary for successful integration of Mississippi College- and Career-Ready Standards, 21st Century Skills, and technology She twice has been named the Mississippi Business Education Association’s University Educator of the Year.

Bracey is MBEA president, as well as president-elect of the National Council of Pi Omega Pi business honor society.

Before earning a doctorate at the University of North Texas in applied technology and performance improvement, she completed a master’s degree in higher education administration at Mississippi College and a bachelor’s in business technology education at the University of Southern Mississippi.

Butler Snow’s Wicks tapped

Ashley N. Wicks of Butler Snow has been named a fellow of the Leadership Council on Legal Diversity (LCLD). Wicks is the second Butler Snow attorney in as many years to be chosen as a fellow for the program.

Wicks focuses her practice on Wicks public finance and a host of tax issues including public finance tax, state and local taxation and tax credits. She is a frequent speaker for various legal conferences, seminars and CLEs. Wicks has been named in the top 10 of Mississippi Business Journal’s 2016 Top 50 Under 40 and a Mid-South Super Lawyers Rising Star in tax.

Wicks is a member of the American Bar Association, National Bar Association, Magnolia Bar Association, Mississippi Bar Association, Texas Bar Association, National Association of Bond Lawyers, Capital Area Bar Association, and Mississippi Society of Certified Public Accountants.

Wicks is admitted to practice in Mississippi, Texas and the Northern and Southern U.S. District Courts of Mississippi. She received both her undergraduate and master’s degrees from Jackson State University. Wicks received her Juris Doctor from Tulane University and her master’s of law in taxation from the University of Alabama.

Butler Snow’s first fellow was Gadson William (Will) Perry, a member of the firm’s commercial litigation group, who was part of the 2017 class.

New Silas Simmons partners

Silas Simmons, LLP has named Peyton C. Cavin and Carr Hammond new partners of the firm.

Cavin received a Bachelor of Science in Business Administration with a major in accounting from

Memorial Auxiliary officers

According to BTI Consulting’s research, 650 core law firms serve large and Fortune 1000 clients. However, less than half of these firms earn a spot in the BTI Client Service A-Team 2018.

The rankings are determined by independent interviews with key legal decision makers at large organizations which gauge each firm’s performance in 17 objective ranking factors that drive client service, including business understanding, quality of work, innovative approach, and value.

Birmingham-based Balch & Bingham has offices throughout the Southeast and in Washington, D.C.

Planters promotes Miller

Courtesy of Memorial Hospital

Gary Fredericks, Gulfport Memorial Hospital Board of Trustees Secretary, administered the Oath of Office to induct the 2018 Auxiliary Officers. The officers are, from left, Ellen Lindsey, President; Bill Matheny, Vice President; June Magnusen, Parliamentarian; and Judy Crim, Secretary. Not pictured are Sandra Morrison, Treasurer, and Joanne Vicory, Corresponding Secretary.

Mississippi College. He joined Silas Simmons in 2007 and specializes in tax planning and preparation, IRS representation, QuickBooks consulting and implementation and financial statement audit, review and compilation.

He is a member of the Mississippi Society of CPAs and the American Institute of Certified Public Accountants.

Hammond is a graduate of Mississippi State University where he earned his Bachelor of Accountancy and Master of Taxation. He began with Silas Simmons in 2005 and specializes in audits of financial institutions, employee benefit plans and local governments as well as tax planning and preparation.

He is a member of the American Institute of Certified Public Accountants and the Mississippi Society of CPAs in which he serves as the Millennial Chairman of the Taxation Committee.

Ramey makes changes The Ramey Agency, a brand strategy and marketing communications firm, recently promoted several key staff members and returned a previous employee in a new leadership role.

Former employee Michelle Hill returns as Vice President, Group Account Director. Hill worked with Ramey in account management roles from 2006– 2014, before leaving to serve in management positions with the American Cancer Society and Compassion International. She also will be responsible for business development.

Swayze Pentecost, formerly Account Executive, has been promoted to Senior Account Executive.

Pentecost joined the Ramey in 2015, and will take on additional responsibility for supporting clients in the retail and business-to-business segments.

Erick Evans, formerly Account Supervisor, has been promoted to Vice President, Group Account Director. Evans has been with the agency for 10 years, and has retail, non-profit and business-to-business experience.

Wynn Saggus, formerly Vice President, Group Account Director, has been promoted to Senior Vice President, Group Account Director. She has been a member of Ramey’s account management team since 2010.

MSU promotes Chrestman Angie Chrestman, who has served as the Mississippi State University Career Center’s interim director since last July, now is the permanent director. Chrestman succeeds Scott Maynard, who retired in 2017 after leading the center for nine years.

Chrestman The Career Center provides a wide variety of services and events to help MSU’s more than 21,800 students prepare for and find jobs after graduation. The center also runs an internship and co-op program, which Chrestman led before filling the director role.

Chrestman earned a bachelor’s degree in elementary education from MSU, but began working as an MSU Extension 4-H agent, then moved to the state 4-H staff to serve as the state 4-H youth leadership development coordinator. While working for Extension, she completed a master’s degree in community counseling at MSU.

Salloum, Burrow ranked Richard Salloum of Franke & Salloum has been included in the latest edition of the Mid-South Super Lawyers. Salloum was listed as a Super Lawyer under the Personal Injury General: Defense section. His practice focuses on major personal injury and commercial litigation, maritime law and Longshore claims. He has been selected as a Mid-South Super Lawyer for the past nine consecutive years.

Nathan Burrow was again listed as a Rising Star under Civil Litigation: Defense. Nathan, who is admitted in both Mississippi and Alabama has a growing practice in the defense of personal injury, commercial and workers’ compensation claims.

Balch & Bingham honored Balch & Bingham has been recognized for superior client service and named to the BTI Consulting Group’s Client Service A-Team 2018.

This year’s list includes 319 law firms and is the outcome of 350 in-depth interviews with top legal decision makers from the world’s leading organizations.

Veteran banker Eric Miller has been named President of Planters Bank in Greenwood, replacing former President Jim Quinn.

Miller joined Planters after earning his B.S. from the University of Alabama and his M.B.A. from Mississippi State University in 2002. He is also a graduate of Miller the Mississippi School of Banking and the Graduate School of Banking at Louisiana State University. Miller is a member of the Legislative Committee of the Mississippi Bankers Association.

He is a member of the Greenwood Lions Club, President-Elect of Greenwood Leflore Chamber of Commerce and the United Way of Leflore County, of which he has served as President.

Miller is married to the former Holly Reed of Louisville; the couple has two daughters, Maggie and Ellen.

Gregory to lead planners Thomas R. Gregory III, a Mississippi State alumnus and community planner for the university’s Carl Small Town Center, recently was elected to a one-year term as president-elect of the Mississippi Chapter of the American Planning Association. In January 2019, he will begin a two- Gregory year term as the organization’s president.

Previously, Gregory served as APA Mississippi’s public information officer and conference committee chair. He currently is a member of its leadership development task force.

Gregory, a Greenwood native, is a 2005 MSU magna cum laude business administration, construction management and land development bachelor’s graduate who also minored in economics and political science. He returned to his alma mater during the 2017 fall semester after serving eight years as chief administrative officer for the City of Greenwood. There, he served on the board of directors for Main Street Greenwood, Greenwood-Leflore County Chamber of Commerce, Greenwood Boys and Girls Club and ArtPlace Mississippi.

A Master of City and Regional Planning graduate of the University of North Carolina at Chapel Hill, Gregory is licensed by the American Institute of Certified Planners and is a member of Congress for the New Urbanism, among other professional groups. He is a graduate of the Sustainable Cities Design Academy, Public Interest Design Institute and Leadership Mississippi.

February 23, 2018

Q

Mississippi Business Journal

Q

15

THE SPIN CYCLE

Apple TV app adds live news streaming

A

pple has further expanded its TV application on iOS and tvOS. Following the addition of a dedicated Sports section a few months ago, users can now use the TV app to access live streaming news content from numerous sources.

While not as extensive as the Sports section, the News section in the TV app allows users to instantly access live streaming news content from several different networks. You get direct access to CBS News, CNN, Fox News, CNBC, and Bloomberg.

If you don’t have the dedicated application for one of those networks installed, tvOS or iOS will prompt you to install it directly from the App Store. The TV app uses your single sign-on login credentials to connect you into each of those apps, making it seamless to set up multiple different news sources.

Furthermore, on tvOS, you can use Siri to start playing a specific network. For instance, simply say “Play CNN” to immediately jump to the live feed in the CNN application.

Apple originally showcased this feature in September when it unveiled the Apple TV 4K. The feature launched with sports integration in November.

The news section in the TV application is accessible under the main “Watch Now” header.

Facebook launches breaking news feature Facebook is creating an innovative news section in its video streaming platform Facebook Watch to feature breaking news stories.

The move, which Campbell Brown, the company’s head of news partnerships, announced onstage at the recent Code Media conference is part of a broader evolution of Facebook’s news strategy.

Facebook launched the Watch platform in August as a way to compete more directly with other video distribution platforms online.

The company had created a video tab as early as 2016, but only hosted generic videos that were being shared by friends and family. With Watch, Facebook was trying to own and control original content that it distributes itself exclusively on its own channel.

Competitors like YouTube and Snap also have their own original content, but with Watch – and the news focus – it’s taking a big step forward The social media giant has struggled in recent years to manage the quality of news content that’s being shared on the platform and how news is being consumed by the Facebook audience. That said, Campbell continued to recite the Facebook line of self-effacement with the company’s involvement in the media landscape.

Facebook is focusing on local news pub-

be identified. Lovinger said NBC has attracted many new brands to the games, with about 60 percent having never participated in the Winter Olympics before.

Todd Smith

lishers rather than big national outlets to change the conversation and focus on the utility of the platform.

NBC targets millennials in Olympic TV strategy Two years ago, NBC’s Summer Olympics audience in Rio fell sharply, especially among millennials, forcing the broadcaster to give advertisers free airtime to make up for the shortfall.

For the winter games in South Korea, the network hopes to avoid a similar fate by selling commercials a new way: based on total viewers regardless of how they’re watching, according to Bloomberg. So whether a fan is following figure skating on the NBC broadcast channel or tuned into curling online, that person will count the same toward the audience NBC is promising to advertisers – and cost the same for a marketer to reach.

The change shows how programmers like NBCUniversal, Comcast Corp.’s entertainment division, are trying to adapt to a world where more people watch online and fewer watch on television at home.

NFL ratings slumped 9.7 percent this past season after an 8 percent drop the prior year. This year’s Super Bowl, also on NBC, drew the smallest audience in nine years.

At the summer games in Rio, NBC was forced to give advertisers free commercial time, after providing separate guarantees for TV and online audiences and then coming up short on television viewers.

Such promises become daunting as more consumers watch programs both ways.

NBC is airing 2,400 hours of Olympics this year on its broadcast network, cable channels such as NBCSN, CNBC and USA and online.

NBC tallied up its total Olympics viewership two years ago and found that online audiences and those tuned in to its NBCSN cable sports network lifted total ratings by 7 percent, or almost 2 million people. That would have amounted to similarly higher advertising revenue had NBC successfully employed its new strategy, Lovinger said.

In the past, conventional and online advertising deals were based on different metrics, with TV spots pegged to house-

holds and online commercials focused on total viewers. For the Olympics, NBC is selling them all based on total viewership.

And while a few marketers have only purchased traditional TV commercials or only digital ads, the “vast majority” of sales were based on total viewership, according to Bloomberg. Eventually, the network hopes to make that metric the basis for selling ads against other programming, raising the prospect that NBC will be paid more for viewers who don’t watch on TVs. Not everyone is buying NBC’s new math. David Cohen, president of the ad buyer Magna in North America, said the new ad strategy will likely boost NBC’s Olympics revenue and make it less likely the company will fall short of its audience guarantees. But he said the value of an online viewer may be greater than a TV viewer, given the potential for interaction.

So far, NBC’s ad sales for the Winter Olympics have surpassed $900 million, topping the total for the 2014 Sochi games, when the company sold “north of $800 million,” Lovinger said. NBC is still selling commercials for the games as they begin this week. A few nights in the first week, including the opening ceremony, are sold out, he said.

But some marketers have decided to buy fewer spots this year after finding that multiple ads didn’t add up to more business, according to one buyer who asked not to

Vimeo launches tool for simultaneous uploading, Livestreaming Video platform Vimeo has launched new features designed to simplify video distribution across social networks, including one tool that allows live video to be streamed to Facebook, YouTube, Twitch and Periscope at the same time. Another allows creators to upload to both Facebook and YouTube simultaneously with one click.

The additions come at a time when Vimeo has been shifting its business away from being a destination site for video content, like YouTube, and more of a tool provider for video creators. The company last year decided to scrap its subscription video-on-demand plans, promoted its creator business lead Anjali Sud to CEO, and acquired live video streaming platform Livestream.

Now the company aims to be more of a one-stop shop for anything video creators need to run their businesses, from tools to host, share and sell their videos, to those that allow them to build their own subscription or over-the-top streaming services.

Todd Smith is president and chief communications officer of Deane, Smith & Partners, a full-service 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.

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