MBJ_Jan18_2019

INSIDE — Introducing new commercial real estate column — Page 2

40

NEWSMAKERS

YEARS

1979

January 18, 2019 • Vo. 41 No. 3 • 16 pages

2019

www.msbusiness.com

Amanda Spradley promoted to general manager at Babalu — Page 7

MBJ FOCUS

Banking & Finance {Section begins P11} » Take the long view regarding stock market volatility

{The List P12-13} » Oldest Banks

NEXT LEVEL Sanderson Championship scores a winner with a new date

By JACK WEATHERLY jack.weatherly@msbusiness.com

DINING {P3}

The Sanderson Farms Championship is on a roll.

The championship played at the Country Club of Jackson will have a new date this year, Sept. 19-22, thus avoiding conflict with the World Golf Championships-HSBC Champions held in China.

That means the Sanderson tourney will be able to recruit top players who otherwise could be committed to the tournament in China.

The PGA Tour recently pulled the plug on a potential event on the same weekend in San Francisco that would have been hosted

by Stephen Curry, the Golden State Warriors star, according to the Associated Press.

The San Francisco event did not have a director and there were concerns that work on the Lake Merced Golf Club might not be completed in time, AP reported.

See SANDERSON, Page 2

» ‘Moveable feast’: food hall debut attracts throngs

http://msbusiness.com/mississippis-top-tech-awards/

2 Q Mississippi Business Journal Q January 18, 2019 COMMECIAL REAL ESTATE

Why high net-worth individuals should allocate to commercial real estate

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igh net-worth individual investors are currently faced with a dilemma on allocating their portfolio between stocks, bonds and alternative investments, including commercial real estate. The stock market has roared back over the past several years with double-digit returns for most investments based on several economic factors, including confidence that President Trump’s tax policies will be advantageous to investors. However, there are also portfolio managers and investors who feel the stock market may be overheated and time may be due for a correction soon, regardless of how well Trump’s tax policies help the market.

As a commercial real estate professional, I have helped many high net-worth individual investors properly allocate their investment portfolio to commercial and/or investment real estate. According to many wealth management companies and portfolio managers, approximately 25 percent of an investor’s portfolio should be allocated to some other type of alternative investment, including commercial real estate. Commercial real estate is a great investment product to produce cash flow or yield to an investor. Although there are many other benefits such as appreciation, hedge against inflation and depreciation, cash flow is the main reason investors seek to invest a portion of their wealth in commercial real estate. Many lower risk properties can still achieve an 8 percent or higher cash on cash return, regardless of leverage. According to the National Real Estate Investor Magazine’s November/ December 2017 issue, the five (5) main reasons high networth individuals invest in commercial real estate are listed below.

First is preservation of wealth. To most investors, not putting

SANDERSON Continued from, Page 1

With the avoidance of a scheduling conflict with the tourney in China, the Sanderson Farms Championship will offer 500 FedExCup points to the winner for the first time and will play a larger role in the season-long race for the FedEx Cup, according to a release from the tournament.

The tournament will also have a record purse, jumping from $4.4 million to $6.6 million, with $1.188 million going to the winner. Cameron Champ, the 2018 Sanderson Farms Championship winner, took home $774,000 and 300 FedExCup points.

The Sanderson Farms Championship will be the second event on the 2019-’20 PGA Tour schedule, one week after The Greenbrier Classic.

“We would like to thank Joe Sanderson and Sanderson Farms for their continued commitment to Mississippi’s PGA TOUR event,” Andy Pazder, PGA Tour chief competitions and tournaments offi-

their capital at risk is the most important consideration when looking for investment vehicles. The cash on cash return is extremely important, but the risk of the investment must be considered in order to get a return of your investment. The most popular Investor of all time, Warrant Buffet, said the number 1 rule of investing is “Don’t Lose Money”. The second rule is “Remember Rule Number 1”. This is a lesson not easily learned in the commercial real estate industry. High leverage from investors in the economic meltdown of 2008 caused many high net-worth investors to lose some or all of their equity in many projects.

Second is income or cash flow. As mentioned previously, one of the distinct advantages of commercial real estate is this investment vehicle is meant to provide cash flow. Appreciation is great, but most Investors look to commercial real estate to provide steady cash flow which comes from the property’s tenants. This is not always the case with other alternative investments and/or the stock market where returns are primarily measured by growth and appreciation.

Third is asset growth and appreciation. Most markets in the U.S. have been on the rise since the great economic recession.

Properties in these markets have experienced rental rate growth, which leads to an increase of net operating income (NOI) and appreciation. In addition, interest rates have been the lowest in U.S. history, which has caused cap rate compression. This has greatly affection asset growth and appreciation and many investors have capitalized on this sharp increase in valuations by selling to private equity and institutional investors. Others have held onto their investments and enjoying the high rate of returns from locking into fixed rate mortgages.

cer, said in the release. “The partnership between the PGA Tour and the Sanderson Farms Championship is unique in that Joe Sanderson has been selfless with his intentions for the tournament and the State of Mississippi.”

Steve Jent, Sanderson Farms Championship executive director, said: “As Mississippi’s largest professional sporting event, we’ve made great strides over the last several years thanks to our partnership with Sanderson Farms and our move to The Country Club of Jackson.

“As a stand-alone event going forward, we look forward to giving our fans the best event in tournament history, with some new faces playing the event for the first time while continuing to make a significant charitable impact.”

The Sanderson Farms Championship has been an official PGA TOUR event since 1986 but has roots back to 1968.

Originally played at the Hattiesburg Country Club, the event moved in 1994 to Annandale Golf Club in Madison, which

Fourth is tax purposes. If there is one thing I have learned after being in the CRE industry for over 20 years is that any person who buys real estate solely for tax purposes will probably lose.

However, investment real estate does have tax advantages that other forms of investments do not enjoy, such as deBrian Estes preciation and interest deduction and the ability to transfer taxable gains via a 1031 tax deferred exchange. When purchasing CRE on basic fundamentals, the tax advantages offered for CRE help to boost the overall rate of return to the investor.

However, commercial real estate should not be purchased for tax purposes alone.

Fifth is estate planning. Estate planning is usually something that most high net-worth investors don’t consider until they are in their late 50s or early 60s and usually at the point their kids or family members are not interested in becoming a part of the business. However, these investors have been able to build up a sizeable portfolio and enough equity to create generational wealth and the dilemma is trying to figure out whether the current portfolio is the right kind of investment to pass to the next generation.

Sometimes transferring these investments into more passive and/or predictable income streams is ideal and can be done using 1031 Exchanges, which allows all taxable gain to be transferred into another CRE investment.

Overall, there will continue to be a shift to commercial real estate as a part of most net high worth portfolio. If done correctly, this can increase cash flow to the investor and spread the risk profile among several types of investment vehicles. Although the most popular property types for HNWIs are multifamily, industrial and medical office, respectively; there are countless other types of CRE investment properties that may be best to fit the HNWIs investment criteria and long range goals.

Brian E. Estes is president and investment advisor with the Estes Group and can be reached at brian@estesgroup.net.

hosted it through 2013. It has had several name changes over the years, and lost its previous title sponsor, Greenwood-based Viking Range Corp., after the 2011 tournament. A conglomeration of companies sponsored the 2012 event, which was called the True South Classic.

Sanderson Farms signed on as title sponsor starting in 2013 and agreed to a 10-year extension through 2026 on Nov. 4, 2015, matching the longest title sponsor agreement of any sponsor on the PGA tour.

“It was simply the right time to contemplate the future and what kind of commitment we were going to make going forward,” said Joe Sanderson. “We believe that it is important, particularly for the charities and for Batson Children’s Hospital to know that we will be here for them, and for the Jackson metro area and the state of Mississippi to know that they can depend on us. We are excited to be a part of the new chapter in the tournament’s history.”

Since 1994, when Century Club Char-

ities became the host organization, the tournament has raised $14.75 million dollars for Mississippi charities, and the economic impact on the Jackson metropolitan area now averages $26 million every year.

Last week, the Sanderson Farms Championship presented a $1.25 million gift to Friends of Children’s Hospital along with a second gift to Friends for $125,000 through other designated donations. In 2018 alone, Century Club’s total charitable impact for the state was $2,235,000.

The 2018 gift is earmarked for Friends contribution to the Campaign for Children’s of Mississippi, a philanthropic effort that is helping fund construction of a seven-story, 355,303-square-foot pediatric tower adjacent to Batson Children’s Hospital. Joe and Kathy Sanderson are the chairpersons of this $100 million-dollar campaign, of which $70 million has already been raised through their leadership.

January 18, 2019

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Mississippi Business Journal

DINING

‘Moveable feast’: food hall debut attracts throngs

By JACK WEATHERLY jack.weatherly@msbusiness.com

“It was the hardest soft opening ever. It was crazy,” said April Baucum, a mixologist at the Gold Coast Bar. She was not alone in that sentiment. He was helping to hold down one of the nine vendorships in the new Cultivation Food Hall.

Friday and Saturday were supposed to be the “soft days,” leading up to the Sunday “official opening.”

But she said she didn’t stop moving as she worked her 5 p.m.-till-closing shifts all three days.

At midday Sunday, the vendor lines were backed up and the tables were full in the 9,000-square-foot food hall (including the patio) in Jackson’s District at Eastover.

Some customers gave up and went across the street to Cantina Laredo or Fine & Dandy, eateries that opened in the district in the past two years.

Understandable and not unexpected, said Cultivation General Manager Patrik Lazarri.

Developers Breck Hines and Ted Duckworth had in mind a culinary destination, Lazarri said.

And the hall, the first of its kind in Mississippi, certainly has added a lot of foot traffic to the destination.

Lazarri demurred when asked what the gate for the weekend was, but he said it was evidence of a “great response.”

“The fact that we have eight different restaurants offering different menus allows . . . someone to surf different areas of the building each time,” Lazarri said.

Sort of a moving feast.

Already, “I’ve seen a lot of repeat customers,” Lazarri said.

Take Kristin Mullen, for instance. By Monday night she had been to the hall several times.

Ariella’s Delicatessen is her current favorite.

She was sitting at the deli’s semicircular bar with a white marble top with her 15-year-old son, Alex, and two neighbors of theirs from the “Loho” district (a word meaning “left over” from the elite Eastover neighborhood).

On Saturday, she had matzo ball soup, which she said was “delicious.” and on Sunday she enjoyed a Reuben sandwich. Before the hall opened, she attended a party there, she said.

She said she and her friends in Loho are already adopting the place as their “living room.”

The New Orleans native said she has

JACK WEATHERLY/MBJ

April Baucum takes an order at the Gold Coast Bar.

missed the Old Tyme Deli, which closed about 20 years ago at Highland Village.

Lazarri said the hall is kind of like the open-air or old-building markets in his native Italy and elsewhere in Europe, where food is the attraction and interaction with people is the lagniappe.

“I knew it would bring positive attention to Jackson,” said Lazarri, who is an engineer by training and a foodie by nature.

He and his wife, Cristina, own two of the vendorships – Bocca Pizzeria, which makes the pies in the simple Neopolitan style, and Whisk, a creperie.

The hall is designed to evolve, he said.

In fact, it changed even before it opened.

The deli is where an oyster bar had been planned, he said. That didn’t materialize.

But evidence of it are the curved bar and deep sinks behind it.

Who knows what tomorrow will bring.

The concept is like an incubator for small operations to allow them to grow into stand-alone restaurants somewhere else, he said.

“Our main goal is to support local talent,” he said.

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» INSIDE MISSISSIPPI

Is Mississippi in its best financial shape ever

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tate revenue collections are running ahead of target. The state rainy day fund and other reserves are full of cash.

Agency budget cuts appear to be behind us. Pointing to all this, Lt. Gov. Tate Reeves said “Mississippi is in our best financial and fiscal shape in our history.” Speaker of the House Philip Gunn chimed in saying, “This is the result of conservative practices over the last seven years.” That seven years covers the tenure of Reeves, Gunn and Gov. Phil Bryant in their current leadership positions.

So, all is good, right?

Well, not so fast, according to a column Bobby Harrison wrote last week in Mississippi Today. The state’s financial condition, he said, is debatable.

And debated it will be during this year’s election bombast.

Here are some tidbits that will add to that debate.

Two key indicators of financial health are debt levels and debt trends.

Reeves, Gunn, and Bryant took their current leadership positions in January 2012. They inherited the state’s existing level of total bonded indebtedness, which was $3.8 billion on June 30, 2011, and the existing unfunded pension liability at PERS, which was $12.3 billion. During their tenure total

Bill Crawford

bonded indebtedness increased to over $4.2 billion and PERS unfunded pension liability surged to $16.6 billion.

That’s over 10 percent growth in bonded indebtedness and nearly 35 percent growth in PERS unfunded pension liabilities. Credit rating agencies Moody’s and Fitch took notice, additionally PERS had to jack up the rate employers contribute. Debt and unfunded liability levels and trends surely don’t qualify as the best ever.

Another key indicator of financial health is revenue growth in comparison to expenditure growth. State revenues, as reported in the State Auditor’s Comprehensive Annual Financial Report, grew from $15.0 billion in FY 2012 to $16.1 billion in FY 2017.

Over the same period expenditures grew from $15.5 billion to $16.9 billion.

(The 2018 CAFR is not yet published.)

So, revenue grew 7.3 percent while expenditures grew 9.0 percent during our current leaders’ tenure. That seems upside down.

One more indicator of financial health is the condition of essential infrastructure as measured by deferred maintenance estimates. (Deferred See CRAWFORD, Page 5

epublicans and Democrats do not appear close to negotiating an end to the U.S. government shutdown, which has now become the longest in the nation’s history.

While we continue to call for leaders to work together for a bipartisan solution to the impasse – and a comprehensive immigration reform package – we think it is important they refrain from one of the tools at their disposal.

President Trump had indicated last week that he was considering declaring a national emergency on the nation’s southern border, a move that would give him greater flexibility to find funding for a border wall. We believe such a move would be a dangerous mistake.

This week, the president backed away from the idea, saying: “I’m not looking to call a national emergency. This is so simple we shouldn’t have to,” as reported by the Associated Press.

Trump’s remarks came a day after Republican Trump’s remarks Sen. Lindsey Graham adcame a day after vocated during an apRepublican Sen. pearance on Fox News Lindsey Graham Sunday for the possible emergency declaration. advocated during We are encouraged to an appearance on hear that such a possibilFox News Sunday ity now appears unlikely. for the possible It is not appropriate to declare a national emeremergency declagency in order to merely ration. advance a political priority. Even if advocates can point to challenges on the southern border, they do not rise to anywhere near the threshold of a true emergency, upon close scrutiny. Such declarations should not be made lightly.

For one, doing so would set a dangerous political precedent that could become one of tomorrow’s political tools. Republicans have pointed out, for instance, it could open the door to a Democratic president declaring a national emergency in order to gain more sweeping authority to rein in climate change.

Also, using emergency declarations for political purposes waters down their efficacy when a true emergency arises.

As the president said, the issue should be simple. The problem is, thus far, the sides do not seem to be willing to compromise.

It’s time now for leaders from both parties to come together and work in a direction that actually moves this debate forward and toward a solution. That should not involve an inappropriate declaration of a national emergency. It should involve bipartisan ideas, comprehensive immigration reform, and an agreement that allows closed government functions to resume and unpaid workers to receive their paychecks.

— Northeast Mississippi Daily Journal

PERSPECTIVE

January 18, 2019 I Mississippi Business Journal

» RICKY NOBILE

CRAWFORD

I

5

Continued from Page 4

maintenance refers to needed repairs to facilities and equipment that are not made when they should be.) The state does not provide any overall data on deferred maintenance related to essential infrastructure. However, we do know there is a huge shortfall in funding available for critical road and bridge repairs, estimated at over $6 billion.

The American Society of Civil Engineers estimates Mississippi’s drinking water and wastewater infrastructure needs top $10 billion. And more millions are needed for school building repairs. All this is noticeably less than optimum.

So, while some things are looking up others are not, so let the debate begin over the condition of state finances.

P.S. The State Auditor publishes an annual report entitled “Expenses and Appropriations of the Mississippi Legislature.” Reeves and Gunn control legislative expenses. The 2011 report showed the total cost for operating the Legislature, which included a special session, was $18.5 million. For 2018, with no special session, the cost was $24.1 million, a jump of 30 percent. Key increases for legislators were out-of-session per diem, mileage rates, and travel expenses – far too much is spent on out-ofstate travel according to one long-time state official.

Bill Crawford is a syndicated columnist from Meridian.

»INSIDE MISSISSIPPI

Public safety chief seeks exit from civil service

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he leader of Mississippi’s Department of Public Safety wants to remove the agency from the state civil service system forever.

Public Safety Commissioner Marshall Fisher says he’s been forced to reinstate a number of officers after what he considers “terrible” decisions by the state Employee Appeals Board that overturned agency disciplinary decisions.

But Tommy Simpson of the Southern States Police Benevolent Association says what would be terrible is depriving officers of due process.

It’s a new wrinkle in the Republican-led Legislature’s lowgrade dislike of the Mississippi State Personnel Board and the civil service system that it administers. Multiple times in recent years, lawmakers have removed agencies from civil service protection for limited periods, allowing agency leaders to hire and fire as they please, usually with the explanation that an agency’s mission has changed and it needs to be overhauled.

Fisher, though, told members of the Senate Appropriations Committee last week that he can’t have anyone second-guessing his decisions to discipline or fire employees.

“An agency director can’t run a law enforcement agency without discipline,” Fisher said. “We’re not running a day care center. It’s not rainbows, roses and lollipops.”

Simpson says officers need protection from politically motivated decisions, and that was the reason the Legislature created civil service protections.

“It’s very important for public safety officers, particularly, to have due process, to where they are not subjected to the whims of politics,” Simpson told The Associated Press.

“They need to be able to do their job and know as long as

they do their job properly that they will be protected.”

The three-member Employee Appeals Board hears from workers who think a state agency has done them wrong. Employees can appeal acts including suspensions, firings, suspected discrimination, or retaliation against whistleblowers. A single board member hears each case.

People unhappy with decisions can appeal to the full board or to circuit court.

An AP review of decisions involving the Department of Public Safety since the beginning of 2017 found the department won three cases, lost five, and has one where the outcome remains uncertain pending further proceedings.

For example, in a case involving former Trooper Dinoion Stutts, the board initially found there was no legal support for the department’s indefinite suspension of Stutts without pay after he was charged with assaulting a Tallahatchie County sheriff’s deputy and ordered him reinstated with back pay. However, the board upheld the department’s later firing of Stutts after he pleaded guilty to assault.

The board reinstated Trooper James Richards after the department fired him for coming to the firing range under the influence of prescription drugs. The board found there would only be a violation of state policy if Richards had been taking illegal drugs.

Jeff Amy

The board reinstated Trooper Richard Todd Cox. The department had fired Cox for a 2010 assault charge against a man accused of having an affair with Cox’s wife, the claim that Cox himself had an affair with another trooper’s wife,

Fisher called the appeals board a “kangaroo court” and said employees who are reinstated are difficult to manage. and Cox’s wife filing a temporary restraining order against Cox in May claiming assault. The hearing officer found Cox’s testimony rebutted the agency’s claims.

Fisher called the appeals board a “kangaroo court” and said employees who are reinstated are difficult to manage.

“They get sent back to us to be put on the street and they’re bulletproof,” Fisher said. “They’re a supervisor’s nightmare.”

Simpson said his association doesn’t support misconduct but disputes Fisher’s characterization.

“Our legislature has got plenty of lawyers and I think some of them need to go to the state Personnel Board and factcheck the cases,” Simpson said.

JEFF AMY has covered politics and government for The Associated Press in Mississippi since 2011. Follow him at http://twitter.com/jeffamy .

6 Q Mississippi Business Journal Q January 18, 2019 » FROM THE GROUND UP

Airbnb Q & A

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ed by Airbnb, the online lodging rental community has grown exponentially during the past 10 years. Estimates range from $100 billion to $170 billion in global sales. If you are wondering if Airbnb, Homeaway or one of the other online lodging providers might work for you as a traveler or as an owner, check out the information below. Most of the comments will relate to Airbnb because my wife and I have used it most often.

Over the past decade, we have stayed in over a dozen online lodging rental facilities in 10 European countries, Canada and the United States. Overall, our experiences have been extremely positive. I have a trip coming up in the near future to Chattanooga, and have already booked my two-bedroom Airbnb apartment at half the price of a room at a name-brand hotel two blocks away. Herein is some information about our experiences in question and answer format.

QUESTION: How do online lodging rental systems operate?

ANSWER: Although the property owner provides the lodging, it is the connector such as Airbnb, Homeaway or similar companies that make it all work. A traveler goes online to one of the sites, picks out a destination, a property, submits an inquiry, and when accepted makes a partial payment to the online company. The owner of the property and the traveler then communicate directly with each other about the details of the visit.

Q: Why Airbnb instead of hotels?

A: The number one reason is cost. There

are also typically more amenities and space in the rented property.

Phil Hardwick Direct communication with owners (who want to please and get good reviews) is often cited as a better experience than with booking with a hotel.

Often, the properties are nicer than a hotel room. Lots of owner through goodies, such as snacks and a bottle of wine.

Q: Do you usually rent a house, an apartment or just a room?

A: It depends on the situation, but all of our rentals have been an entire place, either an apartment or a house. In urban areas, apartments tend to suit us because they are closer to places we want to visit and are closer to public transportation. In Europe, we almost always use public transportation, such as the subway, rail or bus.

So much cheaper.

We rent an entire house when other family members are going to be sharing our trip. Each year we have a family trip to Santa Rosa Beach, Fla., and have rented the same house more than once. Incidentally, it was through Vacation Rentals by Owner (VRBO), which is now part of the Homeaway family of owner lodging rental sites.

Q: What’s the difference between Airbnb and HomeAway?

A: Airbnb leans toward offering an entire place, private room, shared room and even special accommodations such as treehouses and igloos. VRBO is more geared to an entire house or place, usually in a vacation area.

Q: What is Couchsurfing?

A: As the name implies, it is sharing geared to have someone stay in your home.

Your guest(s) can literally sleep on the couch if that’s what you offer. Naturally, prices are substantially cheaper. Lots of young people travel that way internationally. According to its website, there are 400,000 hosts and 4 million surfers in any given year.

Q: Is Couchsurfing safe?

A: According to its website, “Member safety is our top priority, and our Trust and Safety team is here to help. Give feedback on Couchsurfers you’ve interacted with, and we’ll use it to make Couchsurfing better.”

Q: What was your best owner lodging experience?

A: In the United States, it was a house a few blocks from downtown Bentonville, Ark.. The owner contacted us by text before, during and after the rental to make certain everything was OK. She provided clear information about the activities in the area, especially our visit to the Crystal Village Museum of American Art (highly recommended). In Europe, it was a third floor condo overlooking the harbor in Barcelona, Spain.

Q: What was your worst experience?

A: A very nice apartment in Venice happened to be in a building where the smell of lots of curry cooking went on. We spent as little time in the apartment as possible.

In the U.S. we had a not-so-desirable experience in a mountain cabin because of an owner who lived a thousand miles away and did not believe we were about to run out of bathroom tissue. He told me to look in a certain cabinet. I did so. It was empty.

I sent a photo. He said I was mistaken because the cleaning company told him they

had left plenty of supplies. Grrr.

Q: What should a traveler watch out for when renting through one of these companies?

A: Once a property has been selected, read though the reviews. If there are less than five reviews, it is an indication that the property is new to the system. The property may be great, but it really hasn’t been vetted by travelers. Be wary of the reviews if they are short and general, such as “Owner was a great host. We’ll be back.”

Look for detailed reviews that make it obvious that the reviewer actually stayed in the property.

Next, look at the total price. For example, that studio apartment “minutes from Times Square” for $40 per night that I just looked at turned into $161 for one night.

How did that happen? Well, the $40 was the lowest price on a certain date, but when I entered another certain date it turned into $69 for that date, PLUS a Cleaning fee of $60, a service fee of $17, and Occupancy taxes and fees $15.

For more information, please check out the AirBNB.com HomeAway.com and couchsurfing.com websites. Also, an excellent source of more detailed financial information is at the investopedia.com website. If you would like more specific information about any of the properties or trips mentioned, please feel free to send me an email.

» Phil Hardwick is a regular Mississippi Business Journal columnist and owner of Hardwick & Associates, LLC, which provides strategic planning facilitation and leadership training services. His email is phil@philhardwick. com and he’s on the web at www.philhardwick.com.

POLITICS

Bryant pushes teacher pay, school safety in State of State Mississippi Gov. Phil Bryant used his final State of the State speech Tuesday to look back on his two terms and to offer proposals for his final year in office.

Bryant, a Republican, asked lawmakers to enact a teacher pay raise and to approve a school safety program. He mentioned concerns about active shooters in U.S. schools, but did not offer specific details about how he would like to prevent or respond to such situations.

“Our schools, which once were a haven of security, have become a place of potential violence,” Bryant said. “To help protect our students and those who teach them, I will ask you to pass a comprehensive plan to keep our school children safe. The recommendations come from a yearlong study for effective results.”

Bryant cited a litany of statistics about the Mississippi economy, saying the state had a 9.4 percent unemployment rate when he became governor in January 2012. He said the state now has record low unemployment, at 4.7 percent, and Mississippi’s median household income has increased 8.4 percent since 2011.

“And just in case you’re not tired of winning yet, we have 80,000 more Mississippians working today than the day I took office,” he told lawmakers during the speech in the state Capitol.

He asked lawmakers to put more money into the foster care system, which has been under federal court scrutiny for years. He also asked them to approve programs designed to reduce the rate of people who return to prison after serving time.

“If President Donald J. Trump can pass nationwide criminal justice reform through a gridlocked and hyper-partisan congress, surely we can do so right here in Mississippi,” said Bryant, a Trump supporter.

Bryant is limited to two terms and cannot seek re-election this year. He began his political career in 1991, when he won a state House seat. He was appointed in 1996 and served in that office until winning the lieutenant governor’s race in 2007. He was elected governor in 2011.

“I started as a young man, and I will finish as a grandfather,” Bryant said.

“Over these many years I have seen Mississippi make incredible progress.

It may not have always been perfect, but the march of improvement and advancement in our people’s lives over the last 30 years is undeniable. None of us can accept credit for all of it, but we can all claim the honor of toiling and striving to make our home a better place.”

— Wire Reports

LAWMAKERS REACT TO SPEECH A sampling of reaction from legislators to Mississippi Gov. Phil Bryant’s 2019 State of the State speech, his eighth and last address: » Rep. Robert Johnson III, a Natchez Democrat, said he sees Mississippi’s economy in a dimmer light than Bryant: “The state is losing population and economically.

Although the governor has done a fine job of maintaining the status quo, we haven’t had any growth.” » Rep. Trey Lamar, a Senatobia Republican, welcomed Bryant’s call for more funding for the foster care system: “That’s got to be done and we’ve got to move consistently toward that effort. We’re under a court order to do it.

The court has been lenient with us but eventually a court order is a court order and it’s got to be complied with.”

— Wire Reports

Newsmakers Chapman joins Children’s Clinic in Hattiesburg Marla T. Chapman, MD, joined Hattiesburg Clinic Children’s Clinic in Hattiesburg.

Chapman provides comprehensive care for infants, children and adolescents, with a special interest in adolescent care and transitional care.

Chapman received her medical Chapman degree from the University of Mississippi School of Medicine in Jackson. She completed an internship and residency in internal medicine and pediatrics at Greenville Health System in Greenville, S.C. Chapman is a member of the American Academy of Pediatrics and the American College of Physicians.

Runnels joins two departments at Hattiesburg Clinic Bridgette E. Runnels, CNP, joined Hattiesburg Clinic, providing services at Pain Management Health Center and Physical Medicine & Rehabilitation.

Runnels works with patients who require treatment for the management of chronic pain and evaluates patients with spine and musculoskeletal conditions for treatment options.

She received a Bachelor of Runnels Science in Nursing from the University of Southern Mississippi in Hattiesburg and a Master of Science in Nursing from the University of Alabama at Birmingham.

She is board certified as a family nurse practitioner by the American Academy of Nurse Practitioners.

Her professional memberships include the American Academy of Nurse Practitioners and the Sigma Theta Tau International Honor Society of Nursing.

Runnels began her nursing career in 2009 and has worked across multiple specialties, from women’s health to clinical research to therapeutic care.

Manufacturers group names Hillman, Wright to positions The Mississippi Manufacturers Association (MMA) named Shannon Hillman as Director of Membership and Educational Services, and Kelly Wright as Director of Government Affairs.

Hillman will have the responsibilities of recruiting new and retaining current members, conducting board elections, coordinating and fundraising for MMA events, tracking union activity in the state, and assisting members as needed.

Prior to joining MMA in 2007 as Membership and Marketing Manager, Hillman worked at the Rankin County Chamber of Commerce in Brandon, and has more than 25 years experience in sales and marketing.

Hillman is also involved with the following organizations: Mississippi District Export Council, Mississippi State Rehabilitation Council, AbilityWorks, Mississippi Construction Education Foundation, Southcentral Mississippi Works, Mississippi Lumber Manufacturers Association, Mississippi Economic Development Council, Jackson County Chamber of Commerce,

Mississippi Society of Association Executives, and SEUS Canada.

Hillman is a graduate of Draughon’s Business College, where she received a bachelor’s degree in business administration. She is originally from Pearl and lives in Brandon with her husband, Greg.

Wright has been named Director of Government Affairs. Wright will have the responsibilities of monitoring legislation at federal and state levels, and lobbying at the state capitol during the legislative session. She will also serve as the staff liaison for MMA’s Governmental, Environmental, and Political Action committees, coordinate MMA’s annual environmental conference, and assist with coordinating MMA’s annual PAC golf tournament.

Wright has been with the MMA since 2011 as Associate Director of Government Affairs and Deputy Director of Government Affairs. Prior to MMA, Wright worked for the Mississippi Legislative Budget Office and Van Scoyoc Associates, in Washington, DC. Wright is a graduate of the University of Mississippi, where she received bachelor’s degrees in history and psychology. Wright is originally from Jackson, where she currently resides.

Spradley promoted to general manager at Babalu Babalu in Jackson’s historic Fondren District has promoted Amanda Spradley to the position of General Manager. She will oversee all daily operations of the restaurant, which is the first and original Babalu location for the brand that has now grown to eight locations across the South.

Spradley has worked extensively in the hospitality industry in both Jackson and Memphis, including with Babalu in several Spradley management positions. She is a native of the Jackson area and a graduate of Mississippi State University.

Renowned Jackson restaurateurs Bill Latham and Al Roberts opened Babalu in Fondren in 2010 as a unique extension of Eat Here Brands. Housed in the landmark Duling Hall, it instantly grew a large and loyal following due to its unique dining experience featuring Latin influenced Tapas with a Southern flair made from fresh ingredients. The menu includes a wide range of dishes, and Babalu is best known for its table-prepared guacamole, unique tacos, its famed Baba Burger and Baba Rita® “Our priority is to create an ambiance and deliver hospitality unlike any other in this market,” said Spradley. “We want our guests to have fun, share food and celebrate life’s moments. We also have listened to our guests and brought back the favorites while we work on adding new and exciting dishes and drinks.

MSU grad joins Baker Donelson’s tax team Sloane Hankins joined Baker Donelson’s Tax Group in the Firm’s Memphis office.

Hankins has significant experience representing clients in a broad range of tax matters, including trust and estate planning, income tax planning, and estate administration.

Hankins began her career clerking at the United States Tax Court for the Honorable Judge Robert Wherry from 2010 to 2012 in Washington, D.C. She re-

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Mississippi businessman wins FedEx Entrepreneur of the Year award

Courtesy of Impact Management

Don Smith of S&S Delivery Service, Inc., in Beldon won the FedEx Entrepreneur of the Year award. A contracted service provider for the past 19 years and regional FedEx Entrepreneur of the Year award winner, Smith has 23 employees and a fleet of 29 trucks that average approximately 1,215 stops per day. Also, S&S Delivery Service employees annually donate backpacks and school supplies to underprivileged children via a local program called Purple in the Park. One of the company’s employees founded the program in 2011.

The company also donates money and auction items to support the Shriners. At the award presentation are, from left, Bob Henning, Executive VP & CFO, Sandy Volpe, Senior VP – Strategic Planning, Communications & Contractor Relations; Ward Strang, Executive VP & COO; Don Smith; Henry Maier, President & CEO; and Kim Whigham, VP Contractor Relations. ceived her undergraduate degree at Mississippi State University, graduating summa cum laude. Hankins then attended Southern Methodist University Dedman School of Law in Dallas to earn her law degree, also graduating summa cum laude. After graduating from law school, Hankins attended New York University School of Law to obtain her LL.M. in Taxation.

Waters Companies earn top performing International Truck dealerships honor WATERS Truck and Tractor and WATERS International Trucks, a International Truck commercial dealership, has received the International Truck Presidential Award. The award, introduced in 2018, honors the top seven percent of International Truck dealerships that achieve the highest level of performance in terms of operating and financial standards, market representation, and most importantly, customer satisfaction.

Waters is one of only 15 International dealerships in the United States and Canada who earned this recognition in 2018.

Waters Truck and Tractor / Waters International Trucks is a full-service International Truck dealership serving customers in Columbus, Hattiesburg, Kosciusko, Meridian, and Natchez.

Pugh director of Stennis Center for Public Service The Stennis Center for Public Service in Starkville announced that Dr. Brian Pugh, currently Deputy Executive Director of the Mississippi Department of Finance and Administration, will become its new Executive Director.

The current Executive Director of the Stennis Center, Rex Buffington II, retires from a job he has held for over 30 years. A former press secretary and speech writer for the late Sen. John C. Stennis, Buffington established the programs and operations of the Center which provide training and forums on leadership skills and development for those in public service. Congress created the Stennis Center in 1988 with a mission to help those in Federal, state, and local officials and employees become “more effective and efficient in performing their public duties and develop their potential for accepting increased public service.”

The transition is expected to occur in the Spring.

Traci Suber joins Hattiesburg Clinic Traci D. Suber, CNP, joined Hattiesburg Clinic Obstetrics & Gynecology.

Suber provides obstetrical and gynecological care to patients from puberty and up, including patients with high-risk pregnancies.

Suber received a Bachelor of Science in Nursing from The Uni- Suber versity of Southern Mississippi in Hattiesburg. She received her Nurse Practitioner degree from Emory University in Atlanta.

Suber is board certified as a women’s health nurse practitioner by the National Certification Corporation. She is also trained and certified in the areas of cervical colposcopy and cryosurgery. Her professional memberships include the American College of Obstetricians and Gynecologists and the Mississippi Nurses Association.

Newsmakers

8 Q Mississippi Business Journal Q January 18, 2019

Billingsley elected 2019 MPA Chair Bob “Pic” Billingsley was elected 2019 Chairman of the Mississippi Poultry Association Board of Directors at the association’s 2018 convention.

Poultry is Mississippi’s largest agricultural industry, paying almost $3 billion to growers and generating a $20 billion ecoBillingley nomic impact. MPA represents poultry companies, growers and allied industries.

Billingsley serves as the Director of Development and Engineering for Sanderson Farms, Inc. He also serves on the company’s Executive Committee, an appointment he has held for 27 years. A graduate of Delta State University, where he received an accounting degree and a Masters of Business Administration degree, Billingsley has served Sanderson Farms in various capacities throughout his more than 34-year tenure. He is also a member of the U.S. Poultry & Egg Association’s Board of Directors.

Billingsley and his wife Nancy have been married for 32 years and are members of First Baptist Church of Laurel. Their son, Steven, and his wife, Kelsey, currently live in Brandon, Mississippi. Steven is currently attending the University of Mississippi Medical School and his wife, Kelsey, teaches in the Rankin County School District.

Memorial Cancer Center doctor awarded Preceptor of the Year

Courtesy of Gulfport Memorial

Deepu Thoppil (left), MD, Merit Health Wesley, presents Pamela Tuli, MD, Gulfport Memorial Oncologist/ Hematologist, the Preceptor of the Year Award for the Internal Medicine Residency Program. The award is given to individuals who are exemplary practitioners, role models, coaches, learning facilitators, and team players. Tuli joined Memorial Cancer Center in 2010. She earned her medical doctorate and completed her residency at Temple University in Philadelphia. She completed her Fellowship at San Antonio Uniformed Services Health Education Consortium in Texas. Tuli is board certified in internal medicine, medical oncology and hematology.

Sliman elected Chairman of Mississippi awarded $10.6M the MCCLE federal grant for Early Butler Snow announced that Richard W. Sliman has been elected to serve as chairman of the Mississippi Commission on Continuing Legal Education for the 2018-2019 year. Sliman was elected by the state’s commissioners, who are appointed by the Mississippi Supreme Court.

The Mississippi Commission Sliman for Continuing Legal Education exercises general supervisory authority over the administration of the rules and regulations for mandatory continuing legal education and adopts, repeals and mends regulations consistent with these rules.

Sliman is a member of Butler Snow’s tort, transportation and specialized litigation group. He focuses his practice on premises liability, insurance defense, catastrophic events and major claims (hurricane and flood) professional liability and trucking litigation. Sliman has been recognized by Best Lawyers® for insurance law and is AV-Preeminent rated by Martindale-Hubbell®.

Sliman is a fellow of the American Inns of Court, and is a member of the American, Alabama and Harrison County Bar Associations, The Mississippi Bar, the Defense Research Institute, the Mississippi Defense Lawyers Association and the Federation of Defense and Corporate Counsel. He received his bachelor’s degree from Louisiana State University and his Juris Doctor from the University of Mississippi.

Childhood Development

A collaborative effort among state agencies was successful when Gov. Phil Bryant announced that $10.6 million was awarded to the state from the U.S. Department of Health and Human Services to expand the scope of early childhood development for children ages 0-8 in Mississippi.

In a departure from the state’s traditional provider-focused approach, the newly enhanced system is designed to place low-income families on a path to self-sufficiency and ensure their children can attend child care centers that provide high-quality services and learning experiences in a healthy and safe environment—regardless of location or economic circumstances. The funding will expand the opportunity for learning to more than 60,000 children in private child care centers and Head Start programs.

Oversight for these funds will be provided by the Mississippi Community College Board (MCCB), which has a long and successful track record of managing multi-million dollar federal awards, including Child Development Block Grant (CDBG) dollars and TANF and SNAP training dollars.

Several state agencies and partners collaborated to submit the successful grant proposal. The State Early Childhood Advisory Council of Mississippi (SECAC), chaired by Dr. Parisi, directed the needs assessment that identified gaps in the current system and developed the framework for Mississippi’s Family-Based Unified and Integrated Early Childhood System.

MCCB, MDHS, MDE, and the W.K. Kellogg Foundation each pledged matching contributions in support of this important initiative.

Forrest General announces annual award winners Forrest General Hospital in Hattiesburg presented awards to its top employee, leadership and physician.

Employees recognized during the event included Forrest General’s We C.A.R.E. Award recipients, honored for upholding the hospital’s We C.A.R.E. philosophy; Service Award recipients, who were recognized for years of service to the organization; and the 2018 employee of the year, Chuck Pierce.

Also honored were the four winners of the 13th Annual Philip Rogers Quality Award. The award is named for Dr. Philip Rogers, a nephrologist with Hattiesburg Clinic, who dedicated 32 years of his life to serving the people of South Mississippi as a physician, mentor and humanitarian. Rogers, Forrest General’s first nephrologist, was known as a kind-hearted, brilliant physician and great medical staff leader, and was greatly admired and respected for his commitment to his patients and the medical field. Four recipients, each influential and important members of Hattiesburg’s medical community, were announced during the presentation and honored for their roles as a humanitarian, innovator, leader or mentor.

Honorees are: Employee of the Year: Chuck Pierce, Emergency Department We C.A.R.E. Awards: Lance Bailey, LSW, Emergency Department Social Work; Alex Hali Beasley, RN, 8T; Wai Chan, Environmental Services; Amanda Mozingo, Epic We C.A.R.E. Physician Award: Steven Stogner, MD, ICU We C.A.R.E. Leadership Award: Amber Chancelor, RN, Palliative and Supportive Care Philip Rogers Award Winners: Leadership: John

Fitzpatrick, MD, nephrology, Hattiesburg Clinic; Innovator: Jose Fernandez, MD, neurology, Hattiesburg Clinic; Mentor: Randel Smith, MD, cardiology, Hattiesburg Clinic Heart and Vascular; Humanitarian: Joseph Salloum, MD, radiation oncology, South Mississippi Associates in Radiation Therapy, PLLC Service Awards (30 Years): Thomas W. Barber, Pharmacist, Pharmacy; Lisa A. Beckum, unit assistant, Emergency Services; Carolyn L. Broome, senior operating room tech, Surgical Services; Lisa R. Davis, patient care coordinator, ICU; Vickie L. Duncan, environmental tech, Environmental Services; Walter J. Hearn, biomed tech III, Bio-Med; Pamela D. Lindsey, nephrology coordinator, 7T-Resident & Renal; Lela McMillion, RN, OI-Medical Surgical; Laura J. Miley, director of Nursing, Marion General Hospital, Operations Support; Sandra J. Prater, Diagnostic RN, Radiology; Judy L. Schlott, EPIC analyst, Information Systems; Susan M. Smith, clinical registry coordinator, Cath Lab; Edna M. Strickland, secretary, Cath Lab; Linda F. Taylor, unit secretary, 7T-Respiratory and Renal; Renita Travis, unit secretary, Emergency Services; Joanne Warren-Johnson, team leader, Lab; Carolyn L. Woullard, administrative registration supervisor, Radiology Service Awards (35 Years): Randy H. Applewhite, pharmacist, Pharmacy; Sue E. Crabtree, senior program analyst, Information Systems; Deborah F. Esters, unit secretary, 3T; Terri P. Hutson, Epic RN analyst, EPIC; Berniece Hyche, LPN, Same Day Surgery; Sandra D. Oneal, EPIC RT Analyst, Epic; Sherry L. Phillips-Dykes, Epic RN analyst, Epic; Lynn Smith, senior system administrator, Information Systems; Patricia L. Watts, environmental tech, Environmental Services.

Service Awards (40 Years): Jamie C. Campbell, support specialist II, Information Systems; Patricia A. Keys, unit secretary, NICU; Karen A. Simmons, payroll specialist, Payroll; Meida I. Sinclair, patient care supervisor, Patient Care Services Administration

Carothers tapped to join MEDC board The Hancock County Port and Harbor Commission (HCPHC) announced its Chief Development Officer, Janel L. Carothers, has been voted to the Mississippi Economic Development Council (MEDC) Board of Directors as director of District 8.

Carothers, a 10-year veteran economic development professional, has been instrumental numerous industrial locations and expansions in South Mississippi. She has been an active member of MEDC since 2008. She also is on the Foreign Trade Zone Board and is president of the Mississippi Gulf Coast Alliance for Economic Development.

Carothers, who holds a master’s degree in Economic and Workforce Development, began as an intern at the Harrison County Development Commission, advancing to the position of Director of Industrial Development within five years. She joined HCPHC five years ago, where she is responsible for industrial recruitment; lease negotiations; industry-expansion assistance; and marketing.

Newsmakers Adhikari joins Hattiesburg Clinic Hospital Care Service Subodh Adhikari, MD, joined Hattiesburg Clinic Hospital Care Service, where he provides care for patients who are hospitalized.

Adhikari received his medical degree from the College of Medical Sciences in Bharatpur, Nepal.

He completed an internship in internal medicine at Western Adhikari Reserve Health Education, Inc. and Northside Regional Medical Center in Youngstown, Ohio.

He completed his residency at East Tennessee State University, Quillen College of Medicine in Johnson City, Tenn.

Balch & Bingham promotes five attorneys to partnership Balch & Bingham announced the election of five new members to its partnership, effective January 1. The five partners (and their respective office locations) are Mark Bond (Gulfport), Ben Bryant (Jackson), Brooke Gram (Atlanta), Joe Leavens (Birmingham), and Corbitt Tate (Birmingham).

Bond is a partner in the Real Estate Practice representing commercial and industrial companies, electric utility companies and government agencies in a variety of real estate, procurement, transactional, and corporate matters, which include large-scale acquisition and development projects, real estate finance, contract and lease negotiations, and corporate governance issues. Bond received his J.D., cum laude, from the University of Mississippi School of Law, his B.S. and his M.B.A. from the University of Mississippi.

Bryant is a partner in the Litigation Practice representing clients in the defense of complex commercial matters, with a particular expertise in real estate law.

He has advised members of the pipeline industry in condemnation matters required for construction of multi-state projects. Additionally, he regularly represents insured lenders in proceedings to remedy defects arising from real estate transactions. Bryant received his J.D. from the University of Virginia School of Law, his M.S. from Northwestern University and his B.A. from the University of Mississippi.

Gram is a partner in the Litigation Practice. She focuses her practice on civil litigation of commercial disputes, the acquisition of property rights and property litigation, and defense of personal injury and property damages claims. She also handles the defense of contract and tort claims for financial institutions and other commercial litigation matters. Gram received her J.D., magna cum laude, from Mercer University School of Law and her B.A. from the University of Georgia.

Leavens is a partner in the Litigation Practice.

Leavens’ practice focuses primarily on construction law where he regularly represents owners, general contractors and subcontractors across the country, and joint use, pole attachment, and fiber deployment issues for electric utilities, electric co-operatives and other public entities. Leavens received his J.D. from the Washington University in St. Louis School of Law and his B.A. from the University of Virginia.

Tate is a partner in the Real Estate Practice. Tate focuses his practice on commercial lending and real estate transactions and has experience drafting and negotiating commercial loan documents and loan restructurings for a variety of credit facilities including

asset-based credit facilities, factoring facilities, convertible debt facilities, and real estate term loans secured by owner-occupied properties, multi-family properties, shopping centers, and office buildings. Tate also advises clients on all stages of the lifecycle of a real estate project. Tate received his J.D., magna cum laude, from the University of Alabama School of Law and his B.S. from Auburn University.

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Women Business Owners of the Pine Belt Hosts Annual Event

Trustmark names Kennedy new chief information officer Trustmark Corporation announced that David C. Kennedy has been named executive vice president and chief information officer of Trustmark National Bank.

Kennedy has more than 20 years of experience, with his most recent leadership role as Chief Technology Officer of Stone Energy Corporation in Lafayette, Louisiana. In this position, Kennedy was responsible for corporate technology and innovation initiatives and directed the management and operations of information systems across 100+ locations worldwide. He has also served as cybersecurity advisor to regional financial institutions.

Kennedy received a Bachelor of Science in Computer Science from Mississippi State University and has also completed postgraduate studies at Harvard Business School.

Khader joins Hattiesburg Clinic’s Hospital Care Service Asma B. Khader, MD, recently joined Hattiesburg Clinic Hospital Care Service as a hospitalist.

Khader received her medical degree from the University of Jordan in Amman, Jordan. She completed an internship and residency at UIC/Advocate Christ Medical Center in Oak Lawn, Ill.

Khader

Courtesy of Women Business Owners of the Pine Belt

The Women Business Owners of the Pine Belt’s presented their annual awards in Hattiesburg. Awards included a Lifetime Membership Award to Rita Mitchell (center), the Top Recruiter Award to Rosie Knop (right), and the Most Inspiring Member Award to Jennifer Clark. Also, the 2019 board was announced: President – Rosie Knop; Vice President – Elizabeth Corley; Events Coordinator – Shakita Taylor; Secretary – Christy Amay; Treasurer – Skye Dulin; Past President – Jennifer Clark.

leadership roles. Participants learn what it means to be a leader, including how to succeed not only in their law careers, but also in service to professional, political, civic and community organizations.

Each year’s Leadership Forum class consists of no more than 20 lawyers and the selection process is competitive, based on applicants’ submissions and taking into account diversities such as practice type, firm size, gender, race, and geography. Applicants also need to demonstrate leadership ability based on past accomplishments and current activities.

Netterville and Williams Breath’s Boats & Motors accepted to 2019 Mississip- named to 2018 Boating pi Bar Leadership Forum Industry Top 100 list Bradley Arant Boult Cummings LLP has announced that Alicia N. Netterville and Michael Casey Williams, attorneys in the firm’s Jackson office, have been accepted to the 2019 Mississippi Bar Leadership Forum.

A member of Bradley’s Litigation and Labor and Employment practice groups, Netterville has defended clients in lawsuits prosecuted by the attorney general of Mississippi under the Mississippi Consumer Protection Act, represented a major manufacturer in products liability cases involving respiratory protection issues, obtained favorable labor and employment related outcomes for multiple clients, and obtained multiple dismissals of cases for a client in matters alleging violations of plaintiffs’ constitutional rights.

A member of Bradley’s Intellectual Property and Litigation practice groups,Williams represents clients in a broad range of civil litigation matters, including product liability, mass tort and employment litigation in both state and federal court. In addition to handling various general litigation matters, he also serves clients’ intellectual property needs by assisting in the protection and use of their intellectual property rights.

The mission of the Leadership Forum is to prepare Mississippi lawyers for future opportunities in

Breath’s Boats & Motors of Bay St. Louis has been named one of the Top 100 dealers in North America by Boating Industry, the leading trade publication for the marine industry.

“From the thousands of boat dealers in North America these 100 dealers are the best of the best,” said Jonathan Sweet, director of the Boating Industry Top 100 Program. “The Top 100 is about more than revenue. While the financial success of the companies on the list is important, we’re also looking at factors including overall business acumen, marketing strategies, service department efficiency and profitability, customer service and dedication to the industry. These Top 100 dealers stand out for their best practices in all areas of their businesses.”

“Each and every day our dealership aims to provide the best products, service, and customer experience for our boating community. Breath’s Boats & Motors is honored to be among the industry’s elite dealerships in North America for seven consecutive years”, says company president John Ladner.

The Top 100 is the only independent ranking of boat dealers in North America. The list recognizes

dealerships that are unsurpassed in business operations, professionalism, marketing tactics, customer service and more. The Boating Industry Top 100 has recognized the top dealers in North America every year since 2005.

“This year’s Top 100 is stronger than we’ve ever seen in the history of the program,” Sweet said. Total revenue for the 2018 Top 100 dealers and Hall of Fame was at its highest level in the history of the program, topping $3.5 billion.

Ely appointed assistant chief engineer at MDOT Jeff Ely has been appointed Assistant Chief Engineer – Preconstruction of the Mississippi Department of Transportation (MDOT).

In his new role, Ely will oversee and coordinate the work of MDOT’s Bridge, Roadway Design, Planning, Right of Way Ely and Environmental divisions. All planning and design activities, as well as right of way acquisition and environmental considerations, are handled during the pre-construction phase.

Ely began his career with MDOT in 2002 as an Engineer-In-Training in the Planning Division where he was involved in feasibility studies, roadway inventory and the development of MDOT’s Long-Range Transportation Plan and Statewide Transportation Improvement Program. In 2012, Ely was named director of the division.

A native of Jackson County, Ely graduated from Mississippi State University in 2002 with a Bachelor of Science degree in civil engineering.

He currently resides in Brandon with his wife, Jamie, and their daughters, Hayden and Carsen.

Newsmakers

10 Q Mississippi Business Journal Q January 18, 2019

Bradley adds veteran healthcare lawyers to Dallas office Bradley Arant Boult Cummings LLP has announced the addition of healthcare lawyers Wendi Campbell Rogaliner and Scott Schardt to the firm’s newly opened Dallas office.

Both lawyers join Bradley from the Rogaliner Law Firm, a boutique health law firm Ms. Rogaliner founded 15 years ago. As part of Bradley’s Healthcare Practice Group, the pair joins a nationally recognized team of attorneys and advisors providing a comprehensive suite of services to a wide range of healthcare industry participants.

Rogaliner and Schardt focus their practices on a variety of regulatory and transactional matters for healthcare providers, with a particular emphasis on hospital and health system operations.

Rogaliner has represented hospitals, physicians, and other healthcare providers for over 20 years.

She has extensive experience in healthcare facility operations, and she is routinely called on to advise on transactions, contract negotiations, licensure and enrollment matters, clinical trial issues, and the intricacies of the Stark Law, Anti-Kickback Statute, Health Information Privacy and Accountability Act (HIPAA), and Emergency Medical Treatment and Labor Act (EMTALA).

Rogaliner earned her law degree with honors from Southern Methodist University Dedman School of Law. Prior to owning and managing the Rogaliner Law Firm, she served as in-house counsel for a publicly held hospital system.

Schardt focuses his practice on regulatory matters applicable to hospitals and healthcare providers, including Stark Law and Anti-Kickback Statute compliance, Medicare provider enrollment and reimbursement, HIPAA and other compliance matters. He has represented healthcare providers in mergers and acquisitions, joint ventures and other transactions.

Schardt received his law degree from the University of Tulsa College of Law. He currently serves as chair of the Dallas Bar Association’s Health Law Section.

Williams to Lead Phi Theta Kappa STEM and Workforce Programs Dr. Johannah B. Williams has been named associate vice president of STEM and Workforce Programs at Phi Theta Kappa Honor Society (PTK).

Williams will oversee the development of engaging workforce- and STEM-related programming for PTK members.

Nearly 20 percent of members Williams are STEM majors, and approximately 29 percent of members plan to enter directly into the workforce upon completing their degree or certificate program.

Williams previously worked at Hinds Community College’s Raymond Campus, where she was a computer science instructor and a leadership instructor. She was chair of the Chemistry, Physics, and Computer Science Department, as well as District Curriculum Coordinator for Chemistry, Physics, and Computer Science.

She was an award-winning PTK advisor to the Gamma Lambda Chapter at Hinds for 10 years and has served in various leadership roles within the organization.

A native of Oxford, Williams received bachelor’s and master’s degrees in computer science from the University of Mississippi and Alcorn State University, respectively. She also holds a Ph.D. in higher education administration with an emphasis in community college leadership from the University of Southern Mississippi.

Phi Theta Kappa is the premier honor society recognizing the academic achievement of students at associate degree-granting colleges and helping them to grow as scholars and leaders.

Subbarao formally installed as dean of WCU medical school

Crawford joins Gulf Coast law firm Lugenbuhl, Wheaton, Peck, Rankin & Hubbard announced the addition of Todd Crawford, who joins the firm as an of counsel attorney. Crawford has joined the firm’s admiralty and maritime practice, and he will continue to serve the Mississippi Gulf Coast from his current office.

Crawford Previously, Crawford was a partner of Fowler Rodriguez. In addition to maritime law, he specializes in insurance coverage analysis, personal injury, environmental compliance, contractual indemnity and commercial litigation.

Crawford earned a chemistry degree from Louisiana Tech University in 1987 and a law degree from Louisiana State University’s Paul M. Hebert Law Center in 1990.

Crawford’s work has been recognized by Super Lawyers, and he is a member of the Southeast Admiralty Law Institute, the Maritime Law Association and the Defense Research Institute.

McRae No. 22 in the Bank Investment Consultant’s Top 100 Bank Advisors list John C. McRae, who is a member of Citizens National Bank’s Wealth Management Division, as well as a Branch Manager and Senior Financial Advisor with Raymond James Financial Services, was chosen as No. 22 of 100 nationally on the list of Bank Investment Consultant’s Top 100 McRae Bank Advisors.

Bank Investment Consultant is a leading publication in the bank investment services industry that annually releases this list ranking the top bank investment advisors in the nation. McRae has been named on this list in 2013, 2016 and 2017.

He and his wife, Jennifer, live in Meridian and are members of Central United Methodist Church. They have a son, Collier, 16, and a daughter, Anne Preston, 14.

Courtesy of WCUCOM

Jack Simmons, right, chairman of the William Carey University Board of Trustees, administers an oath of office for deans of osteopathic medical schools to Dr. Italo Subbarao as WCU President Dr. Tommy King looks on as a witness to the ceremony.

Dr. Italo Subbarao was installed as the fourth dean of the William Carey University College of Osteopathic Medicine during a formal ceremony Jan. 11 in Hattiesburg. At 44, he is the youngest dean of an osteopathic medical school in the United States.

“I’ve never thought about age, but what I hope to bring to our students is a creative approach, an enthusiasm. I want them to embrace technologies. In today’s world, there’s a digital revolution upon us and I want our students, and our graduates, to be leaders in that revolution,” Subbarao said.

During her remarks as guest speaker, global health strategist Dr. Elin Gursky said Subbarao’s role as a developer of the HiRO medical drone makes him a leader of this digital revolution.

The drone can fly into inaccessible or dangerous situations and establish live communication with a doctor who can help people provide life-saving care until medical professionals arrive.

“The innovative technical and operational capabilities of HiRO are seminal. It can guide the delivery of healthcare to people geographically remote from clinics and hospitals. In a battlefield environment, HiRO’s capabilities will help save the lives of soldiers,” Gursky said.

“In developing countries, HiRO will enable the diagnosis of symptoms that might foretell a possible pandemic and help prevent large-scale illness and social disruption while using technology that will reduce the numbers of people potentially exposed to a virulent pathogen.

“With Dr. Subbarao’s ability to envision possibilities and harness innovation, this is just a prelude of more to come.”

In his remarks, Subbarao thanked the WCU Board of Trustees and WCU President Dr. Tommy King: “I am deeply humbled and profoundly appreciative for the opportunity to lead this amazing osteopathic medical school – one with a unique mission to put doctors in communities that have for many years have not had access to healthcare. It is a truly noble and righteous cause.”

Subbarao reinforced the osteopathic mission to serve.

“William Carey rests on a fortified foundation of Christian principles and a promise to improve the lives of all we meet. Carey will lead the development of the next generation of primary care physicians and leadership for the state of Mississippi, the Gulf South and beyond,” Subbarao said.

“We will embrace new and existing partnerships and build those relationships to meet and exceed healthcare needs. We will foster innovation, digital methods, artificial intelligence and, yes, even drones to expedite clinical and emergency innovation.”

The day also included a Global Health Seminar for WCU medical students. It featured a distinguished panel of three nationally known physicians – keynote speaker Dr. Elin Gursky, Dr. Vikas Kapil of the Centers for Disease Control, and Dr. Jim James, a retired brigadier general in the U.S. Army.

After the ceremony, Dr. King hosted a luncheon for the medical school and its guests.

January 18, 2019 • MISSISSIPPI BUSINESS JOURNAL • www.msbusiness.com

AN MBJ FOCUS: Banking & Finance

Take the long view regarding stock market volatility

By BECKY GILLETTE mbj@msbusiness.com In December 2018, U.S. stock markets had their worst performance since 1931.

The Dow Jones had its worst Christmas Eve on record. While those facts are very concerning, Mississippi investment advisers are recommending clients stay the course and avoid the temptation to sell stocks when the market is down so much. “The best advice I give my clients is, if you get all nervous looking at your portfolio every day, quit looking at it,� said Michelle Mabry, president and managing partner, Client 1st Advisory Group, Hattiesburg. “It is going to be okay. It is not a good time to sell. The economy is still growing right now and nobody can really predict if the markets will recover in 2019 or go down more. But we do know historically all bear markets have been a temporary phenomenon.�

However, Mabry said there is no reason to think this is the end of the downturn and that the markets will recover quickly. “I predict 2019 will continue to be volatile with government shutdowns and trade wars, growing federal deďŹ cits, political uncertainty and the possibility of a recession,â€? Mabry said. “Nobody can really predict the future, but a good strategy in the past has been to hang tight. Investors

who rebalance their portfolios on a regular basis, buying stock when percentages of stocks as a total investment have gone down, tend to do better than investors who don’t rebalance and especially better than those who lose their nerve and panic during a downturn.�

Tiffany B. Ballard, president, Bergland Wealth Management, Ridgeland, said before they take on a client, that person must be willing to be focused on the longterm returns. “We take a very proactive approach

in making sure our clients are prepared for market uncertainty just like what we experienced in the fourth quarter,� Ballard said. “The key is to measure one’s risk tolerance and invest according to his/her unique level of risk. That way when the market starts to decline and the portfolio goes down in value, it should not decline any further than the investor can tolerate.

The challenge is staying invested and not reacting emotionally by selling.�

Ballard said there are going to be periods with short-term volatility. But time erases the short-term volatility. “There is no guarantee,� Ballard said.

See LONG VIEW, Page 14

Your Trusted Financial Partner,

TAKE TWO.

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Banking & Finance

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LONG VIEW Continued from, Page 11

“Past performance is no guarantee of future returns. When a portfolio is invested in a prudent, globally diversified manner, over the long-term, history shows that the portfolio will outperform the benchmark.

And who knows what returns will be for 2019? This could still end up being a good year.”

She also stresses the importance of living within one’s means. Know what your income is going to be for the year and what your expenses are. In retirement,

have two years of cash flow available so you are not having to raise cash by selling when the market is down.

Ernie George, principal and owner, E.T. George Investment Management, LLC, Starkville, agrees investors do best to have a long-term view. He likens it to taking your blood pressure every hour, which is probably counterproductive.

“I’ve been in this business since the 1970s, and the only thing I can assure clients is that every decline we have experienced has resulted in not only a recovery, but a new all-time high,” George said. “I don’t know if it will happen this time, but

it has happened every other time. I don’t anticipate a great year this year. I anticipate a positive year. I do think over the next two to three years, we will have good results that everyone will be pleased with and can live with.”

George said he was looking at his own investments over the holidays, and he took a hit like everyone else. But when he looked at 2017 and 2018 together, and the average was pretty good. And the returns were also good looking back to 2000 in three-year segments.

“I think we undermine ourselves by focusing on the short term,” George said.

Publish Date: February 1 Lists: Economic Development Organizations www.msbusiness.com

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“There are times like we are currently in where we have a downturn in the market, but we have also seen significant increases in the market in recent years. This may not be the time to have a lot of risk. It might be time to Ballard be moderate. But I don’t think anyone needs to be all in or all out.”

Technology innovations have produced major changes in the economy.

An example George gives is that the U.S. has gone from an oil importing country to the largest oil producer in the world.

George “Take a vote on how you feel about America’s future,” George said.

“If you are a believer in our country and what it stands for, then you have a good opportunity here. It is not a time to be investing in the wild west.

With China or Russia, I don’t know their laws or Mabry if anyone is protecting me there.”

George stresses the importance of having client-driven goals.

“A goal isn’t saying I want to make “X” return,” he said. “The goal is to fund education, retirement or charitable contributions. Once we have decided what we want to do and what our time limit is, then we look at allocation and diversification to try and put those together to determine what type of growth, as well as volatility, we can expect.”

Stacey L. Wall, CEO of Pinnacle Trust, Madison, said the return of volatility for stocks coupled with the worst December performance since the Great Depression certainly garnered investors’ attention as we entered 2019.

“But in spite of ongoing trade and tariff issues, volatility in the financial markets, the rising cost of debt, and expectations of moderating global growth, we think it is too early to be calling for a recession,” Wall said. “The stock market generally looks forward. While earnings and GDP are both expected to slow this year, the economy is still on solid ground and the Federal Reserve seems to be taking a more accommodative stance.”

Wall expects stock volatility to continue in the first half of 2019 before the market moves higher in the second half of the year.

“Investors need to remain focused on the long term and remember that every stock market decline in history has been followed by a larger rebound,” Wall said.

“The key to financial security is to always have a sound plan and then to stick with it through the tumultuous times.”

January 18, 2019

Q

Mississippi Business Journal

Q

15

THE SPIN CYCLE

Push alerts are driving mobile news strategy

N

ews fans in today’s digital world are craving more push alerts, less breaking news – and, yes, less of the smiley/frowny/angry/kissy emoji speak.

An analysis of some 30 publisher’s mobile notifications shows that the nature of news alerts has stayed the same but newsroom managers are thinking differently about how to use them.

In a follow-up study to a 2017 analysis, Columbia Journalism Review’s Pete Brown collected 1,510 mobile push alerts from 30 news apps over two weeks in the summer of 2018, mirroring the previous study. And more than 280 alerts alone came from President Trump’s family separation policy and border chaos in 2018, so Brown looked at those again in a case study.

“This case study further confirms the ongoing shift away from using push purely for breaking news, a movement we had already observed last year. Notifications categorized as ‘analysis,’ ‘general,’ and ‘firsthand accounts’ comprised over a quarter of all alerts during the family separation controversy,” Brown wrote in his analysis.

The weekly average for push alerts overall increased 16 percent from last year to 26 per app. Overall, The Wall Street Journal had the most apps in the test period due to new alert category options beyond breaking news, followed by CNN, The New York Times, and the Washington Post Classic app, with Mic, the Star-Tribune, and the BBC sending the fewest.

In a volatile year of news, some news app users saw seven alerts just about the family separation policy in one day with CNN, Brown recorded. Publishers also shifted the experience so the alerts are filled with more text, more compelling content, more insight and analysis rather than the constant stream of breaking news.

Perhaps 2017’s research or busting of the news cycle influenced content managers to reconsider how they are packaging mobile news.

Brown’s interviewees described a “growing consensus that push should not be viewed solely as a platform for breaking news, but also as a means for promoting the newsroom’s strongest journalism and building brand loyalty around exclusive stories, resulting in a broader range of content being surfaced via the platform.”

Layoffs also impacted push alert strategies: “The most prolific alerter from last year’s study, CNN MoneyStream, sent zero alerts during this recent data collection period.”

Digiday reported that MoneyStream faced layoffs in CNNMoney’s transition to CNN Business basically an automatic feed.

But Mic, before its November downswing

Gushing Golden Mic| The Water Girl stole the show The “Fiji Water Girl” stole the show at the recent Golden Globes!

It wasn’t a famous actor, producer, screenwriter or director who Todd Smith shone the brightest, but model Kelleth Cuthbert, who won the people’s hearts. Posing daringly close to many of Hollywood’s biggest stars, Cuthbert artfully photo bombed dozens of red carpet darlings, always with a mocking look on her face.

Before long, Fiji Water Girl had her own parody Twitter account and charmed fans across the internet. And Fiji, the official bottled water partner of the Golden Globes, loved all the attention, too!

Fiji jokingly told Fortune that Cuthbert had earned “the award for best supporting actress in (literally) every picture.”

Other observers saw Fiji Water Girl’s sudden popularity as a gimmick. CNN called it the “most obvious PR stunt” of the Golden Globes.

Somehow, Cuthbert managed to steal the camera from Nicole Kidman, Jim Carrey, Tony Shalhoub, and Idris Elba, among others.

Now that’s a true Hollywood wrap. slipped from 33 alerts sent on average per week to just two. The team had experimented with alerts presenting news in full so readers didn’t have to navigate scrolls and links.

Instagram poised to double digital ad share Instagram is on track to dominate the digital ad space despite its social media parent’s public challenges about privacy concerns.

The photo-sharing platform’s share of digital video budgets from ad buyers will double from 2018 to 2020, according to a recent survey by Cowen.

Instagram has vaulted to the forefront as the it place to launch new brand campaigns aiming for the all-important demographic of 13 to 34-year-olds, according to 61 percent of survey respondents to the study representing about $14 billion in ad spend.

The relatively new Stories Instagram feature is also helping position the app as a campaign darling.

Instagram Stories appear “poised for greater adoption” as more ad buyers allocated some portion of their spend to the feature in 2018 than the year prior, Cowen’s John Blackledge told Bloomberg News. Instagram even beat out TV in this younger target group, a medium only 3

percent of respondents said was a primary platform.

The picture is different for people 35 and up. The survey indicated Facebook’s core platform remains essential for brand agencies targeting that group, besting both YouTube and Instagram but lagged traditional television.

As a result, Cowen sees these trends as growth drivers for Facebook to expand its video content over the next few years.

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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Trusted business expertise – it’s at Regions.

We’re here to help your business thrive in ways you might not expect. At Regions, you’ll find one of the industry’s most complete suites of business tools along with the insight and personal service you need to accomplish your goals. For a broad range of product offerings and a local presence for everyday business needs, you don’t have to look far. Just take your next step with Regions.

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