MBJ_Jan19_2018 by Journal Inc

INSIDE — Cal-Maine: mistreatment of hens an aberration — Page 3 ENTERTAINMENT

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January 19, 2018 • Vol. 40. No. 3 • 16 pages

BANKING & FINANCE

Artist lineup announced for Brandon Amphitheater — Page 2 Ridgeland entrepreneur Chris Burgess has found a niche for his new product, the Performance Fantasy League.

MBJ FOCUS

Banking & Finance {Section begins P8}

» Bitcoin is unregulated, highly volatile, and popular, except in Mississippi » Pascagoula banker Ramsay dies » Regions Bank recognizes retiree Herren

{The List P12-13} » Mississippi’s Oldest Banks

FROM THE PUBLISHER’S DESK {P6}

» The importance of quality local journalism

JACK WEATHERLY/MBJ

Fantasy sports ﬁnd a corporate playing ﬁeld By JACK WEATHERLY jack.weatherly@msbusiness.com Fantasy sports have captured the imagination of the country. Participants select fantasy teams – whether baseball, football or basketball – of real players and play games. For Chris Burgess, a former star pitcher for St. Andrew’s Episcopal School and Delta State University and later joined the Toronto Blue Jays organization, it struck him: why not

apply that to the work place. Hence, starting in 2016, the Performance Fantasy League was formed. After little over a year, there are about 30 client teams, primarily banks, which reﬂects Burgess’ background of banking. And now Burgess is making his “pitch” in bigger markets, such as Boston. “Banking has pretty much been commoditized,” he said in an interview. “What is the differentiator? To me, it’s the people.” “The employees become the players,” he

said. “It enhances competition. It brings fun. It’s helped with teamwork, and from what I’ve seen, it helps communication.” That fun is reﬂected in team names. The current ranking of the best names is headed up by “Kickin’ Assets and Takin’ Names.” The concept brings together members of different departments – whether operations, retail, lending or compliance – who don’t normally interact, Burgess said. “I’ve been shocked by how effective this has been,” he said. Trustmark National Bank has been a client of Burgess’ company Performance Delta since 2012, said Nancy Huggs, corporate referral manager for the $12 billion bank. And in 2016, the bank tried its hand the Performance Fantasy League, she said. “It has created fun for the employees,” Huggs said. The PFL allows the bank and participating

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

See FANTASY, Page 6

2 Q Mississippi Business Journal Q January 19, 2018 TOURISM

Lineup of artists announced for Brandon Amphitheater By JACK WEATHERLY jack.weatherly@msbusiness.com Dave Matthews and Hank Williams Jr. are among the musical acts that will perform in the C Spire Concert Series at the Brandon Amphitheater after the facility opens in April. The $20 million amphitheater is being built by the city on 250 municipally owned acres. The city sold $14 million in tax-free 30year municipal bonds in 2016. A 2 percent food and beverage in 2013 approved by 75 percent of the city voters will service those bonds. The balance was raised by issuance of $6 million in 15-year general obligation bonds. Brandon Mayor Butch Lee said in a release on Tuesday that “the Board of Aldermen and I began brainstorming this idea years ago, and it took a lot of people to bring this to fruition. From the beginning, the city’s goal for the Brandon Amphitheater and The Quarry was to create a quality family-centric atmosphere that will bring more economic growth and increase tourism to our city, as well as the state.”

FILE/MBJ

The venue has ﬂexible seating arrangements that allow it to accommodate up to 8,300.

The park will include walking and biking trails, a dog park and baseball ﬁelds. Backers support the facility as a logical place to capture musical acts and other entertainment because of its location at the intersection of Interstates 55 and 20, what Jay Wilson of Red Mountain Entertain-

ment calls “the crossroads of the South.” C Spire has put on outdoor shows in Madison for major country and western artists in recent years. A similar venue built in Tuscaloosa, Ala., in 2010 has spurred $91 million in devel-

opment, including hotels and restaurants, Lee said in an earlier interview. The amphitheater with a capacity of 8,300 is composed of lower- and upper-level seating, box seats, state-of-theart audio and video infrastructure, complete with LED video walls. There will be ample concession windows and beverage kiosks throughout the venue. The Community Bank Club is a private VIP club for amphitheater sponsors and box-seat holders. The ﬁrst acts announced to perform at the amphitheater are: » Chris Young, April 18. » Brantley Gilbert, May 3. » Hank Williams Jr., May 12. » Dave Matthews Band, May 29 » I Love The ‘90s featuring Salt-N-Pepa, Rob Base, Kid N Play, Coolio, June 8 » Alan Jackson, June 22. » Alabama, featuring the Charlie Daniels Band, Sept. 8. Red Mountain Entertainment exclusively books The Wharf Amphitheater in Orange Beach, Ala., the Tuscaloosa Amphitheater and the Beale Street Music Festival in Memphis.

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January 19 2018

Mississippi Business Journal

AGRIBUSINESS

Cal-Maine: mistreatment of hens an aberration By JACK WEATHERLY jack.weatherly@msbusiness.com An animal rights group has released an undercover video of what it says are laying hens living in deplorable conditions at a Cal-Maine Foods farm in Lake Wales, Fla, Jackson-based Cal-Maine is the largest producer of shell eggs in the United States. According to Animal Recovery Mission (ARM), hens are overcrowded in cages where they are trampled and strangled to death. The hens also live among dead chickens and regularly die from dehydration, starvation, egg binding and illnesses from living in unsanitary conditions, including “walls of cockroaches” in the close quarters, ARM says. The hens are also tortured and abused by employees who kick, punch, and throw them, slam them to the ground, beat them to death with sticks or pull them apart alive, ARM said. ARM said of what it called a weeks-long investigation: “These brutal actions [were] executed by both employees of the facility and managers alike and are clear violations of company codes of conducts and animal welfare policies required to be a humane certified business,” ARM said in a news release. In a statement Tuesday, Cal-Maine said it is “an industry leader in accepting and implementing animal welfare measures,” and said all employees involved in the care and handling of hens must comply with a company code of conduct regarding the ethical treatment of hens, which also requires them to report any possible violations. “The ARM video was taken by a former employee acting as an undercover activist, and he chose to disregard required farm procedures as part of his intent to misrepresent our efforts to provide proper care for our hens,” the statement read. ARM said one manager at the farm has been charged with animal cruelty, and authorities in Polk County are investigating. Cal-Maine said the employee was immediately terminated and that the company is cooperating with the sheriff’s office and the Florida Department of Agriculture and Consumer Services and gave them access to the facility in Lake Wales. “They reported they did not find comparable conditions to what was shown on the video. We believe that this was an isolated incident and does not reflect the ethical standards of animal care expected of all Cal-Maine Foods employees,” Cal-Maine’s statement read. According to the company website, Cal-

Maine markets their eggs under the EggLand’s Best and Land O’ Lakes brands. They also market cage-free eggs under the Farmhouse and 4-Grain brands. The statement from the company says: “Cal-Maine Foods is an industry leader in accepting and implementing animal welfare measures. All of the Company’s eggs

are produced in accordance with United Egg Producers (UEP) animal care guidelines. “We believe that this was an isolated incident and does not reﬂect the ethical standards of animal care expected of all Cal-Maine Foods employees. Further, we continue to work with our animal welfare

team to prevent this from happening in the future.” Information for this article was also provided by NBC affiliates in Florida.

American Heart Association Thanks the companies below who went red in support of women’s heart health in 2017 and we remind everyone to join us on February 2, 2018 for National Wear Red Day.

COMPANIES WHO WENT RED 2016 Baptist Hospital Clinton Chamber of Commerce Girl Scouts of Greater Mississippi Jackson City Hall Jackson Convention Center MS Children’s Home Services New Summit School Southpoint Business Park St. Dominic Hospital The Governor’s Mansion Tougaloo College Trustcare Clinics University of Mississippi Medical Center Ms Ag and Forestry Museum 12 WJTV 16 WAPT 3 WLBT Fox 40 Allstate, Steven James Agency Alpha Kappa Alpha Sorority Bancorp South BankPlus Ridgeland CenterPoint Energy City of Jackson City of Madison City of Ridgeland iHeart Media Jackson Clinton Chamber

Clinton Wellness Center Community Bank Copeland, Cook, Taylor & Bush Division of Medicaid Entergy Mississippi Get to College Center Godwin Group Haddox, Reid, Eubanks & Betts Hall’s Towing Hallmark Cleaners Herrin Gear Horne, LLP Jackson Public Schools Jackson State University Levi’s MEA Medical Clinic Madison County Library System Metropolitan Bank Metropolitan YMCAs of Mississippi Mississippi Business Journal Mississippi Children’s Museum Mississippi Home Care Mississippi Veteran’s Hospital New Summit School Northpark Mall Pure Barre Regions Bank

Reunion Country Club Ross Furniture Social South Southern Farm Bureau Sta-Home Health Agency TempStaff The Clarion-Ledger The Clinton Courier The Office of the State Treasurer, Lynn Fitch Trustmark Bank Quinn Medical Group

For more information contact: Jill.Strickland@heart.org #GoREDJackson

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

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

MBJPERSPECTIVE January 19, 2018 • www.msbusiness.com • Page 4

OTHER VIEWS

#THE OUTSIDE WORLD

Infrastructure solutions remain a necessity

Website: www.msbusiness.com January 19, 2018 Volume 40, Number 3

ALAN TURNER Publisher alan.turner@msbusiness.com • 364-1021 TAMI JONES Associate Publisher tami.jones@msbusiness.com • 364-1011 ROSS REILY Editor ross.reily@msbusiness.com • 364-1018

FRANK BROWN Staff Writer/Special Projects frank.brown@msbusiness.com • 364-1022 JACK WEATHERLY Staff Writer jack.weatherly@msbusiness.com • 364-1016 TED CARTER Contributing Writer mbj@msbusiness.com • 364-1018 BECKY GILLETTE Contributing Writer mbj@msbusiness.com • 364-1018 NASH NUNNERY Contributing Writer mbj@msbusiness.com • 364-1018 LISA MONTI Contributing Writer mbj@msbusiness.com • 364-1018 VIRGINIA HODGES Account Executive virginia.hodges@msbusiness.com • 364-1012 TACY RAYBURN Production Manager tacy.rayburn@msbusiness.com • 364-1019 CHARINA RHODES Circulation Manager charina.rhodes@msbusiness.com • 364-1045 MARCIA THOMPSON-KELLY Business Assistant marcia.kelly@msbusiness.com • 364-1044 SUBSCRIPTION SERVICES (601) 364-1000 subscriptions@msbusiness.com Mississippi Business Journal (USPS 000-222) is published weekly with one annual issue by MSBJ 200 N. Congress St., Suite 400, Jackson, MS 39201. Periodicals postage paid at Jackson, MS. Subscription rates: 1 year $109; 2 years $168; and 3 years $214. To place orders, temporarily stop service, change your address or inquire about billing: Phone: (601) 364-1000, Fax: (601) 364-1035, Email: charina.rhodes@msbusiness.com, Mail: MS Business Journal Subscription Services, 200 N.Congress Street, Suite 400, Jackson, MS 39201 POSTMASTER: Send address changes to Mississippi Business Journal, Circulation Manager, 200 North Congress Street, Suite 400, Jackson, MS 39201 To submit subscription payments: Mail: MS Business Journal Subscriptions Services, 200 North Congress Street, Suite 400, Jackson, MS 39201. No material in this publication may be reproduced in any form without the written consent. Editorial and advertising material contained in this publication is derived from sources considered to be reliable, but the publication cannot guarantee their accuracy. Nothing contained herein should be construed as a solicitation for the sale or purchase of any securities. It is the policy of this newspaper to employ people on the basis of their qualifications and with assurance of equal opportunity and treatment regardless of race, color, creed, sex, age, sexual orientation, religion, national origin or handicap. The Mississippi Business Journal, is an affiliate of Journal Publishing Company (JPC), Inc.: Clay Foster, president and chief executive officer. Entire contents copyrighted © 2018 by Journal Inc. All rights reserved.

» INSIDE MISSISSIPPI

If only Tupelo’s unifying culture reached statewide

o you know the “Tupelo Story,” the uplifting chronicle of Tupelo’s self-transformation from “a hardscrabble hamlet” (Aspen Institute) to a prosperous small city and “national model for homegrown development” (William Winter)? Vaughn Grisham, Jr., built a career around telling the Tupelo Story and was the founding director of the McLean Institute for Public Service and Community Engagement at Ole Miss. His book, “Tupelo: The Evolution of a Community” tells the story as does his monograph with Rob Gurwitt, “Hand in Hand: Community and Economic Development in Tupelo,” a case study published by the Aspen Institute. In the Forward to Grisham’s book, former Governor William Winter calls Tupelo “a place where people have learned not to dismiss their own personal self-interest, but to equate it with the interest of their community.” While Daily Journal publisher George McLean was the enlightened self-interest guru and unrelenting catalyst behind Tupelo’s transformation, the Tupelo Story is really a multi-generational story of strong and progressive business leadership, inclusive community engagement, well-researched and strategic decisions, and institutionalized civic processes. I was reminded of the story by a Daily Journal editorial last week enti-

Bill Crawford

tled, “Continued community success depends on training next generation.” It told of the Tupelo Mayor’s Youth Council leadership program teaching youth the Tupelo Story and inspiring them to “continue the history of engaged and dedicated leadership our community has benefitted from for the last 75 years.” You see, what Tupelo has developed is a unifying “community culture” (Grisham) that intentionally renews itself, edifies its business and community leaders, and, thereby, sustains the city’s focus on helping both its people and its businesses do better. In looking to answer why Mississippi persistently ranks at the bottom on so many indicators, you need look no further than to our lack of a vibrant, unifying state culture. Unlike Tupelo, we have been unable to bridge divisions rooted in race, provincialism, self-interest, and ideology. Thus, instead of discourse leading to success and distinction, we get unending squabbles that foster distress, disappointment, dysfunction, distrust, and discombobulation. Nothing is more symptomatic of this condition than the rank partisanship in our state Legislature. Indeed, its leaders tout partisanship and offer no proposals to bridge divisions and develop a unifying culture. See CRAWFORD, Page 5

potential roadblock has appeared along the long, and seemingly never-ending, path toward proposals to allocate internet tax collections toward repairing the state’s crumbling infrastructure of roads and bridges. Conversations among state leaders last week helped reveal a hitch that might occur with pending legislation in the House that would divert money collected by out-of-state online retailers toward road and bridge repairs on the state and local level. The legislation, which is pending on the House calendar, involved at one time some stout figures between $50 million and $250 million, providing a much-needed and substantial shot in the arm to a key economic development issue for Mississippi. State leaders now believe, however, that those figures could be significantly less given that one of the main contributors to that line item will actually contribute funds to the state in a slightly different, although very important, way. Retail giant Amazon began voluntarily collecting the 7-percent tax on retail sales in Mississippi last year as state leaders continued discussions of requiring other online companies to do so. But later in the year, Amazon announced the purchase of Whole Foods, a nationwide grocer that specializes in health food items and environmentally friendly products. The Whole Foods location in Jackson means that Amazon now technically has a brick-and-mortar location. While that might seem like a minor detail in the grand scheme of the things, it’s quite a significant one from a procedural standpoint because it switches the taxes being collected from a use tax to a sales tax. The legislation drafted involves the collection of use taxes – not sales taxes — to be diverted to infrastructure repairs. If that legislation were to move forward in the legislative process, Amazon’s purchase of Whole Foods would significantly diminish the size of the funds generated, as reported by the Daily Journal’s Bobby Harrison. Legislators have been grappling for several years with how to raise additional money for transportation needs without increasing the 18.4cent per gallon tax on motor fuel, which is the primary source of state revenue for the Mississippi Department of Transportation. This session, the House also has taken up or has pending on its calendar a variety of measures that hope to address the critical infrastructure needs of our state. Despite the possible setback in one particular piece of legislation, we urge lawmakers to continue working to find a viable solution for investing in our state’s roads and bridges. Many questions seem to remain in exactly what Amazon’s purchase of Whole Foods means regarding the taxes being collected, not to mention the Supreme Court’s decision on Friday to agree to review the ruling from 1990s that put in place the brick-and-mortar rules. Continued focus on this issue should remain throughout the next few weeks to ensure this can doesn’t continue to be kicked down the road any longer.

— Northeast Mississippi Daily Journal

PERSPECTIVE

January 19, 2018

» RICKY NOBILE

CRAWFORD

Mississippi Business Journal

Continued from Page 4

Tupelo ensconced its forward-looking business leadership in its Community Development Foundation (CDF). Not satisfied with the chamber of commerce model, McLean designed the CDF to serve the full community along with business interests. The only organization to come close to the CDF at the state level has been the Mississippi Economic Council (MEC). While primarily business focused, the MEC, like the CDF, has championed education, health care, and other quality of life initiatives. But despite ambitious efforts like Blueprint Mississippi, the MEC has been unable to forge sufficient consensus to bridge the state’s many divisions. Lately, MEC influence has dwindled as that of anti-progressive out-of-state special interest groups has surged. It is human nature to put self-interest first. Once George McLean convinced Tupelo business leaders that balancing self-interest with community interests would be better for all, the city and region prospered. Tupelo has carefully nurtured this approach through future generations of business and community leadership. How far off the bottom might Mississippi be if this approach had reached statewide? Bill Crawford (crawfolk@gmail.com) is a syndicated columnist.

»FROM THE GROUND UP

Restaurant tipping policies may change over time

ow much did you tip the server the last time you had a good meal in a restaurant? Who do you think gets to keep that tip? Would you change the amount you tip if the server did not get it all? The answer to these questions depends on several things, not the least of which is a U.S. Labor Department proposal to change the handling of tipped income for restaurant employees. The proposal would roll back a 2011 provision that made tips the property of the employee who received them. The rule would only apply to employees who receive at least the federal minimum wage of $7.25 from the employer. There are currently 29 states that have a higher minimum. Under federal law, workers who earn tips as part of their compensation can be paid a lower minimum, $2.13 an hour. As always, one's perspective determines how the issue is viewed. Let's take a peek at the perspectives of the customer, the server, the "back of the house employees" and the employer. Customer Perspective - Many, if not most, customers tip based on the quality of the service received from the server. There have been countless articles written about how much to tip. Some restaurants even provide guidelines right on the check itself. And they are making it easier to add the tip of your choosing. The check received after the last two meals I had in restaurants were presented on an iPad. All I had to do was touch a spot on the screen to add the tip. How convenient. Server Perspective - Many servers now have to share their tips with the "back of the house" employees, i.e. the cooks, the dishwashers, et al. The server knows that many customers don't know this. The server might rightly wonder

why better service is rewarded if they don't get to receive all the award. They may also look at other servers who are less professional and less efficient and wonder why those servers are going to get the same tip. When all tips go into a common jar what does it matter? They may even fear that if the server doesn’t receive all the tip then the server will make less money. Restaurant Owner Perspective - Owning and managing a restaurant is a tough business. Hiring, training and keeping good employees is a critical part of the business. Controlling costs is paramount because profit margins are razor thin. Shared tipping is a way for the owner to reduce costs. Indeed, if tips are shared by all employees it would be possible in many cases to increase the income of the non-server employees who do not have customer contact. By giving tips to the employees, the business itself does not have to report tips as income. Back of the house employees - These are the cooks, the dishwashers, the ones who bus the tables and those not directly involved in serving customers. They point out that they are an integral part of the overall dining experience. Therefore, they should receive a portion of the tips. They work hard and even aspire to one day be servers so that they can take home more money. Now for my personal bias. My mother worked many years in a very nice restaurant. She was a professional. So much so that prominent and frequent customers asked for her by name. She even had a signature dish of the restaurant named after her. She worked a so-called split shift six days a week. When she came home at night she emptied her pockets and I helped count her tips. She made enough to raise two kids

Phil Hardwick

and buy a house as a single mother. She preached the value of good customer service to me and said that good tips were the evidence of that. When I heard about the issue of some restaurants requiring servers to pool their tips I began asking servers whether or not they had to share their tips. It seemed the more upscale the restaurant the more likely the servers were required to pool their tips. Sometimes they shared with all other employees, sometimes with only the bartender if drinks were part of the order and sometimes with only the other servers. Apparently, each place had its own policy. One day last summer while on vacation my family of seven went to breakfast at a popular local restaurant. Our server was fantastic. It seemed no problem for her to handle five adults and two small children. She made us feel welcomed to the area, gave us suggestions on what to do and did a few other niceties to make what could have been a chaotic meal adventure into a most pleasant experience. I thought about how hard she worked. I thought about how hard my mother worked. I left a very generous cash tip. I did not ask if she had to share her tip. As we collected ourselves to leave, I saw that server pull the cash out of the check holder and throw it in a big glass jar beside the cash register. She never even glanced at it. Because I had left an extra tip because of her good service you can imagine how I felt. With these different perspectives, it will be a Labor Department proposal to watch. » 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.

6 Q Mississippi Business Journal Q January 19, 2018 FROM THE PUBLISHER’S DESK

The importance of quality local journalism

oday, we’ve all heard the use of the term “fake news”. This is a term that was virtually unknown until recent years, just as the words “Google”, “Facebook”, and “Twitter” were unknown just a few years ago. There is no way to over-emphasize the importance of trustworthy, accurate news and information to a free and democratic nation. There is also no way to over-emphasize the danger of losing access to that quality local journalism, because in America, we believe in an informed electorate, in transparency and accountability, and in maintaining the core values on which the nation was founded. With this in mind, we who work to deliver trustworthy journalism to our audiences are watching with concern the continuing growth of what we would call the “Big Platforms,” the small number of huge companies that are increasingly controlling the ﬂow of information to Americans. For most of American history, newspapers and magazines have been the primary delivery vehicles for essential, trustworthy news and information about their communities, their states, their regions, and the nation and world as a whole. Did we

always get it right? Of course not. But we were always alert for our mistakes, and we worked to ﬁx them when they occurred. We were there to cover council meetings, the school board, and local sports. We were never afraid to take on those who would compromise the important values on which the country was founded. We are still working hard to do just that, but sadly, times have changed. Today, we have watched our long triedand-true business model being steadily eroded by those “Big Platforms” we mentioned earlier. These companies are siphoning up dollars at an incredible rate. We’d like to pose a question for those who read the Mississippi Business Journal in print, online at MSBusiness.com, or in our daily alerts and special publications. Do you really want to be sending your money and support off to giant California corporations that really don’t care much about Mississippi, and in fact, stand in direct opposition to many of the conservative values that Mississippians hold dear? Well, it’s sad to say, that this has in fact been happening in recent years. Interestingly, those “Big Platforms” continue to get much of their content from….. yes, the pages and sites of newspapers and

magazines, and no…..they don’t pay much or anything for it. But worse, as we’ve learned, a substantial amount of the other content they deliver has proven to be “fake news.” Do you really, truly want to support that? At the Mississippi Business Journal, and at just about every other newspaper and magazine in America, we’ve had to tighten our belts repeatedly to continue doing what we do best….namely, delivering the best local news and information we possibly can to an audience that needs that information. We’re proud to say that we’re reaching a far larger audience today than at any time in our history, and yet, we continue to see money ﬂowing out of Mississippi to the “Left Coast.” Some of those dollars used to be spent on advertising and subscriptions to the Mississippi Business Journal. We have begun a new program to help us Ensure our future as Mississippi’s leading purveyor of important business news and information. Along with many other papers, we’re working to develop a “membership model” wherein we ask our readers to partner with us in support of quality local journalism. You’ll be seeing our message as you read the Business Jour-

SOUTH MISSISSIPPI

The Hancock County Port and Harbor Commission has commissioned RS&H, Inc. to study the feasibility of obtaining a Launch Site Operator License that could open the door to commercial space flight out of Stennis International Airport (KHSA). The Federal Aviation Administration has developed regulations that enable airports to host operations of reusable launch vehicles that take off and land like aircraft. Several kinds of such vehicles are currently under development. The study will examine the feasibility of hosting spaceport operations, as well as the infrastructure needs and potential economic benefits of such operations. “Determining the feasibility to launch spacecraft from Stennis International Airport represents a significant growth oppor-

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

FANTASY

Hancock County Port and Harbor Commission selects ﬁrm to conduct spaceport feasibility study for Stennis International Airport For the MBJ

nal, visit MSBusiness. com, or read breaking news on our daily email alert. We hope you will choose to join us as we seek to deliver the information YOU need. We have a numAlan Turner ber of ways you can do just that. At the same time, we’re also starting a number of new features that we think you’ll enjoy, so keep an eye peeled for those. And, when your agency or marketing department is busy sending those dollars to California, we hope you’ll pause for a moment and decide that your old friends here in Mississippi just might be worth a little support, too. Our sincere thanks to you for being a loyal reader and viewer of our products, and we look forward to continuing to provide you with the important news and information you need.

tunity to expand Hancock County’s role in the space industry. Space is not new to Hancock County, home of NASA’s John C. Stennis Space Center, the nation’s largest rocket engine testing facility. The industry is poised for dynamic growth, and Hancock County is uniquely positioned to beneﬁt from this growth,” said commission CEO Bill Cork. “Developing airports to be able to host operations of launch vehicles promises to bring down the cost of launching payloads into space tremendously,” said Ken Ibold, senior aviation consultant for RS&H and the ﬁrm’s project manager for spaceport development at airports. “Stennis is a great candidate for a Launch Site Operator License because it is surrounded by compatible land and the community is so rooted in the space age.” RS&H is one of the premier architecture, engineering, planning and consulting

ﬁrms in the U.S. The ﬁrm has supported the commercial spaceport licensing of multiple airports for the last 10 years and has developed space-related infrastructure at Cape Canaveral for more than 50 years. It provides aviation consulting services to 175 airports nationwide. The study will help the commission to identify potential users for the Airport in addition to traditional aircraft. Other activities may include unmanned aerial systems and other aerospace development. Situated near the Gulf of Mexico, and with more than 1,500 acres readily available for development, Stennis International Airport features many of the attributes associated with a licensed spaceport. The Stennis area is considered to be a viable location due to the presence of a strong technology-savvy workforce associated with the NASA Stennis facility.

Continued from, Page 1

employees to see online which teams are leading. Burgess said participation is not mandatory, but “if you don’t participate you don’t get to share in the winnings.” Huggs said that usually there is 100 percent participation for the cash rewards. The advantage is that it is not “you against the world”; it’s your team against the other teams in the league. Judy Delisle, assistant vice president and training officer for Dedham Savings in Dedham, Mass., said: “We used a Super Bowl theme. We deﬁnitely saw an increase in referrals.” She described the PFL as “friendly competition.” The rallying cry in the work place is teamwork. And behind that is motivation. The list of exponents of that school of thought is long and growing – pioneers such as Dale Carnegie, Napoleon Hill, Norman Vincent Peale and Earl Nightingale have been joined more recently by Tony Robbins, Stephen Covey and others. But in the PFL world, you have to add fun names like the Alabama Deposit Dogs and the Loan Wolves to that list of positive thinkers.

January 19, 2018 • MISSISSIPPI BUSINESS JOURNAL • www.msbusiness.com

MBJ FOCUS: BANKING & FINANCE

Growing, bit by bit by bit » Bitcoin is unregulated, highly volatile, and popular, except in Mississippi By JULIA MILLER mbj@msbusiness.com

ince January 2009, Bitcoins have circulated around the Internet as a trendy topic, but since hitting a USD value of $5,000 in September, it has begun appealing to a wider

audience. Now with an exchange rate of more than $14,000 per Bitcoin, its appeal is higher than ever. What is Bitcoin? According to its website, Bitcoin is a “distributed peer-to-peer digital currency that can be transferred instantly and securely between any two people in the world. It’s like electronic cash that you can use to pay friends or merchants.” Unlike other forms of currency (i.e. the Dollar, Euro, or Yen), there is no regulatory body. Even as more national companies, such as Microsoft, Subway and Dish Network, are moving toward accepting Bitcoin, Mississippi ﬁnancials institutions are keeping Bitcoin at a distance.

“People I’ve talked to agree. (Bitcoins) are highly volatile,” Bank of Brookhaven President Shannon Aker said. “It’s been more of an investment tool. Nobody’s excited about it.” Aker said he did not foresee the cryptocurrency mania holding out for long, but as the numbers continue to rise the frenzy will likely only increase in the short term. New Bitcoins are created through a process called mining. In a process similar to a raffle draw, computers are awarded bitcoins every time they solve a particular mathematical equation. The reward for solving a block is automatically See BITCOIN, Page 11

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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, weâ&#x20AC;&#x2122;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.

ÂŠ 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$- ( )/. . -$ $) /# Č&#x201A;$ $ ' 0' .Ńľ / /$( *! )/-4Ńś Ň&#x2014; Ň&#x2DC; $"# #**' /0 )/ (0./ ' " ' Ńľ Ńľ - .$ )/ *! *) *! /# '$"$ ' / / . ) )-*'' $) Ń&#x20AC;Ń /# "- $) +0 '$ *- +-$1 / . #**' Ň&#x2014;*- #*( . #**'Ň&#x2DC; '* / $) *) *! /# '$"$ ' / / .Ńś ) Ň&#x2014; Ň&#x2DC; *'' " /0 )/ (0./ !- .#( )Ńś .*+#*(*- *- %0)$*- 0-- )/'4 )-*'' $) ) - $/ *'' " $) /# Ńľ ŃľŃś ) $/# - Ň&#x2014;$Ň&#x2DC; ' " ' Ńľ Ńľ - .$ )/ *! *) *! /# '$"$ ' / / . *- Ň&#x2014;$$Ň&#x2DC; ' " ' Ńľ Ńľ - .$ )/ Ň&#x2014;*! *) *! /# Ń&#x201E;Đż )$/ / / . *- Ńľ ŃľŇ&#x2DC; )-*'' $) ) - $/ *'' " '* / $) *) *! /# '$"$ ' / / .Ńľ Ň&#x2014; *- +0-+*. . *! *)/ ./Ńś /# Ň&#x201A; '$"$ ' / / .Ň&#x192; - â&#x20AC;Ť )Ţ&#x201D;â&#x20AC;Ź. /# ./ / . *! Ńś Ńś Ńś Ńś Ńś Ńś Ńś Ńś Ńś Ńś Ńś Ńś Ńś ) ŃľŇ&#x2DC; $.$/ - "$*).Ńľ *(Ň?-$ $)"!*-2 - !*- *(+' / *)/ ./ '$"$ $'$/4 ) .. 4 - ,0$- ( )/.Ńś *)/ ./ / $'. ) Č&#x201A;$ $ ' 0' .Ńľ '$"$ ' )/-$ . 2$'' "-*0+ *- $)" /* ./0 )/Ň . ./ /0. Ň&#x2014; $"# #**' /0 )/ *- *'' " /0 )/Ň&#x2DC; ) ..* $ / '$"$ ' / / Ńś ) %0 " 4 + ) ' *! $) + ) )/Ńś ,0 '$â&#x20AC;Ť Ţ&#x201D;â&#x20AC;Ź%0 " .Ńľ $Č&#x2026; ) Ň&#x2014;Ń&#x20AC;Ń&#x201E;Ň&#x2DC; $"# #**' /0 )/ -$5 . Ň&#x2014;*) + - '$"$ ' / / Ň&#x2DC; 2$'' 2 - *).$./$)" *! # & $) /# (*0)/ *! â&#x20AC;ŤÚŚâ&#x20AC;ŹŃ&#x201E;ŃśĐżĐżĐż ( *0/ /* 2$)) -Ň . - $/ *'' " Ńľ $Č&#x2026; ) Ň&#x2014;Ń&#x20AC;Ń&#x201E;Ň&#x2DC; *'' " /0 )/ -$5 . Ň&#x2014;*) + - '$"$ ' / / Ň&#x2DC; 2$'' 2 - *).$./$)" *! # & $) /# (*0)/ *! â&#x20AC;ŤÚŚâ&#x20AC;ŹŃ&#x201A;ŃśŃ&#x201E;ĐżĐż ( *0/ /* 2$)) -Ň . - $/ *'' " Ńľ +*).*-Ńˇ "$*). )&Ńś Ń&#x20AC;Ń&#x2C6;ĐżĐż $Č&#x2026;# 1 Ńľ ŃľŃś $-($)"# (Ńś Ń&#x201A;Ń&#x201E;Ń ĐżŃ&#x201A;Ńľ Ň&#x17E; "$*). ) /# "$*). '*"* - - "$./ - /- ( -&. *! "$*). )&Ńľ # $! - ) *'*- $. /- ( -& *! "$*). )&Ńľ

Banking & Finance

10 Q Mississippi Business Journal Q January 19, 2018 MILESTONES

Pascagoula banker Ramsay dies Special to the MBJ

PASCAGOULA – Stewart Ramsay, Chairman of the Board and longtime president/chief executive officer of First Federal Savings and Loan Association of Pascagoula-Moss Point, has died after a lengthy illness. “Our entire association mourns the loss of Stewart Ramsay,” said Weldon Perkins, president and chief executive ofﬁcer of First Federal and longtime friend. “Mr. Ramsay was, and always will be,

the symbol of First Federal’s core values and dedication to our employees and customers. “In his 49 plus years serving First Federal, he was a remarkable banker, displaying tremendous leadership, instinct and intuition. On behalf of our Board of Directors, management team and employees, we extend our deepest sympathies to Stewart’s family.” Stewart Ramsay joined First Federal in 1969 and stepped into the position of CEO in 1978, while serving on the Board

of Directors. Upon his retirement in 2012, Ramsay was elected chairman of the Board. Ramsay also served on such boards as the Mississippi League of Savings Institution, where he also served as Chairman, the Advisory Committee of the Federal Home Loan Bank of Dallas, Mississippi Gulf Coast Community College Foundation, Pascagoula Kiwanis Club and the Boys and Girls Club of Jackson County.

I BankFirst. “As BankFirst celebrates 130 years of service, we appreciate our customers and continue to support our local communities. Do you BankFirst?”

Moak Grifﬁn President and CEO

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Regions Bank recognizes retiree Herren Special to the MBJ

A farming philosopher once put it simply: The ultimate goal of farming is not the growing of crops, but the cultivating and perfecting of people. That saying reﬂects the example lifelong farmer and recent Regions Bank retiree Stan Herren displayed during the 44 years he worked for the bank. Herren grew up on a cattle and timber farm in Utica and earned degrees in agronomy and agricultural economics from Mississippi State University. Although he did not choose farming as a profession, his early life and training helped him sow seeds with customers, colleagues and the community during his banking career. Believing outstanding Herren service was the greatest value he could provide, Herren developed an understanding of his customers’ needs. He also was a mentor to many co-workers, devoting countless hours to coaching and developing younger bankers. He also maintained a strong presence in the community by supporting causes like Friends of Children’s Hospital, a nonprofit organization that helps Blair E. Batson Children’s Hospital in Jackson care for sick and injured children through volunteerism, fundraising and awareness. Citing his impact on the community, Regions named Herren the January 2018 recipient of the Regions Bank Better Life Award, which is the top honor given to a Regions associate for dedication, job performance, and exemplary involvement and commitment to the community. “I can only hope that I have lived and contributed in a way that I leave this world a better place,” Herren said. “I try to daily be an example of faith, hard work and professionalism in all that I do.” Regions donates $1,000 in the name of the recipient to a nonproﬁt organization of the winner’s choice. Herren chose Friends of Children’s Hospital in support of Sanderson Farms CEO Joe Sanderson, who is leading a fundraising campaign for the organization. “Service to others through what we do in life with the time we are given is the example I hope I’ve shared with all who know me,” Herren added. “Hard work — while serving others — will allow you to have a full and rewarding life.”

Banking & Finance BITCOIN Continued from Page 8

adjusted so that, ideally, every four years of operation of the Bitcoin network, half the amount of Bitcoins created in the prior 4 years are created. As the amount of processing power directed at mining changes, the difficulty of creating new Bitcoins changes, which results in fewer and fewer new bitcoins every year. The maximum number of Bitcoins that will be created is just under 21 million, and projections show that number will be reached by the year 2040. As of Jan.

13, there were 16.8 million bitcoins in circulation. The Bitcoin website explains its value stems from its usefulness and scarcity. As they are accepted by more merchants, their value will stabilize. It also explains that this is the same concept behind the U.S. Dollar and the Euro because both of these currencies also do not have inherent value but are considered valuable due to the variety of merchants that accept them. However, mainstream banking remains skeptical of this relatively new cryptocurrency. Los Angeles Times ﬁnancial columnist Michael Hiltzik warned that Bitcoins

January 19, 2018

showed all the signs of a bubble. “Its price has run up by roughly 1,000 percent this year,” he wrote in December. “That price seems divorced from the value of any underlying commodity — in fact, there is no underlying commodity.” Hiltzik went on to compare it to the last great bubble, the dot-com bubble, which experienced 500 percent increase before bursting in 2000. Also in December, ex-FDIC Chairman Sheila Bair told Fox Business that Bitcoin is a volatile asset and is a bubble. “I would say it’s, you know, people shouldn’t put their rent money there, and hopefully if you’re doing it you know what

Mississippi Business Journal

Special to the MBJ

Mississippi born,

Mississippi proud. Celebrating our state and creating opportunities since 1899. Mississippi’s landscape has changed a lot, but the core values that keep our communities and our company strong are as solid as ever. We’re proud to carry on the commitment to service and hometown spirit that have helped people, businesses and industries thrive in our state and across the Gulf Coast.

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you’re doing,” she said. In fact, Bitcoin’s website doesn’t deny this. Under a page title “Some things you need to know,” it says. “The price of a bitcoin can unpredictably increase or decrease over a short period of time due to its young economy, novel nature, and sometimes illiquid markets. Consequently, keeping your savings with Bitcoin is not recommended at this point. Bitcoin should be seen like a high risk asset, and you should never store money that you cannot afford to lose with Bitcoin. If you receive payments with Bitcoin, many service providers can convert them to your local currency.”

BankFirst adds Rader to Board

COLUMBUS – The Board of Directors of BankFirst Financial Services recently announced the appointment of Gregg Rader to its Board of Directors. Rader, Chief Executive Officer of Columbus Recycling Corporation, brings over 30 years of business experience to the Board. “Gregg is a well-known entrepreneur and innovator in the Golden Triangle Region, and we are pleased and excited to welcome him to the Board,” said Moak Griffin, President and CEO of BankFirst. “Gregg possesses a seasoned business background and a depth of ﬁnancial experience and knowledge and will be of great value as we continue to build our franchise.” Rader Rader and his wife, Welissa, are residents of Columbus and are involved in a number of community and civic events and activities. Rader serves on a number of other boards that include Mississippi State University Foundation, the Bulldog Club and the Lowndes County Industrial Development Authority. He is a graduate of Mississippi State University. “It’s a great honor to be named to such a distinguished board of directors,” said Rader. “I look forward to serving with the Board for the betterment of the communities, shareholders and employees of BankFirst.” BankFirst Financial Services has seventeen locations in Mississippi and Tuscaloosa, Alabama, with $956 million in assets.

Banking & Finance

12 Q Mississippi Business Journal Q January 19, 2018

MISSISSIPPIâ&#x20AC;&#x2122;S OLDEST BANKS

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Banking & Finance

January 19, 2018

Mississippi Business Journal

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Newsmakers

14 Q Mississippi Business Journal Q January 19, 2018

Madison panel picks officers

Sarah Beth Wilson, shareholder with Copeland, Cook, Taylor & Bush, P.A., in Ridgeland, was recently elected by the Madison County Young Professionals (MCYP) Steering Committee to serve as the MCYP Chairperson for the 2018 year, which will be Wilson MCYP’s second year since its creation by the MCBL&F Board. Wilson represents lenders and other ﬁnancial and business entities in litigation related to bankruptcy and insolvency matters, lender liability defense, real property and other contractual and ﬁnancial disputes. The other MCYP Steering Committee members elected to serve as officers for the coming year include: Vice-Chairman: Grant Montgomery, Bancorp South; Secretary: Haley Claxton, Trustmark Bank; Philanthropy Chairman: Austin Stewart, Adams & Reese, and MCYP’s immediate Past Chairman is Chris Roberts, BankPlus.

Yates joins Peterbilt in HR Sara Yates has joined the Peterbilt Truck Centers of Mississippi in Pearl as the Director of Human Resources. Sara will oversee all human resource functions for Peterbilt Truck Centers of Mississippi, Tennessee, Arkansas, and Louisiana. Prior to joining Yates PTC of Mississippi, Sara served as a human resource manager for HORNE LLP. She attended Mississippi State University, graduating with a bachelor’s degree in Communication. Yates is on the board of directors for the Capital Area Human Resource Association. Additionally, she is a member of the business advisory boards for the business and office technology programs at both Hinds Community College and Pearl River Community College. She is active at Marvin United Methodist Church where she is the church pianist. Sara and her husband Stephen have one child, Mary Elizabeth, and reside in Florence.

Bravata joins Dale Partners Evelyn Bravata has joined Dale Partners Architects P.A. Bravata joins the ﬁrm with over nine years of experience. She will work out of out of the ﬁrm’s Biloxi office. Bravata received her Bachelor of Fine Arts degree from the Bravata University of Michigan, and her Master of Architecture from the University of Colorado. Her portfolio includes educational, corporate, and residential experience across the country. Evelyn is a native of Deer Park, NY, and enjoys cycling, dancing, knitting, and cooking.

Adams & Reese taps Brooks

B. Jeffrey “Jeff” Brooks was recently elected Chair of the Adams and Reese Executive Committee, and Partners Reber M. “Mitch” Boult and Leslie M. Henry were elected to serve on the ﬁrm’s Executive Committee. Brooks’ selection as Chair of the Executive

Cirlot Agency grows in Jackson The Cirlot Agency recently welcomed three new employees to its roster. Kimberly Singleton will work in Client Services. A Jackson native, Singleton supports the day-to-day operations, ensuring the effective flow of communication. She is responsible for assisting clients and visitors, preparing for meetings, and other duties. Singleton She spent the past six years at Porter & Malouf, P.A. as a Settlement Assistant, where she assisted clients with claims and work in class-action lawsuits, including the Deepwater Horizon/BP Oil Spill. Chrissy Sanders is a Brand Strategist, responsible for conducting qualitative market research, forming public relations plans, advocating for clients, and managing communication efforts. She develops integrated marketing and media strategies vital to brand growth. A former educator and Committee marks his third term having previously served as Chair in 2014 and 2015. Boult previously served a three-year term on the Executive Committee from 2014 through 2016. The six-partner committee oversees the strategic operations of the firm as well as its attorneys, advisors and professional staff. Members of the firm’s Executive Committee and management are located throughout the firm’s regional footprint. Adams and Reese has nearly 300 attorneys and advisors located in its 18 offices across 17 markets throughout the southern United States and Washington, DC.

Clearwater adds Goode Michael Goode is joining Clearwater Group as a full partner. Goode will work to expand the public policy and local government consulting services offered by the Mississippi-based public affairs and government relations ﬁrm. Goode has spent the last decade working in the public ﬁnance division of Raymond James and Morgan Keegan. Previously, he worked as a Senior Advisor in the state of Mississippi’s Treasurer’s office under then-state Treasurer Tate Reeves. Goode spent time at the Mississippi Republican Party, worked on several congressional staffs in Washington and has served as a political advisor to a number of statewide, congressional and legislative candidates.

14 at Copeland Cook listed Seven Copeland, Cook, Taylor & Bush attorneys were recently named 2017 Mid-South Super Lawyers and another seven claimed 2017 Mid-South Rising Star recognition. Mid-South Super Lawyers are: C. Glen Bush, Jr., Energy & Natural Resources; C. Greg Copeland, Insurance Coverage; James R. Moore, Personal Injury- General: Defense; J. Ryan Perkins, Civil Litigation: Defense; Glenn Gates Taylor, Energy & Natural Resources; Robert P. Thompson, Civil Litigation: Defense; William E. Whitﬁeld, III, Personal InjuryMedical Malpractice: Defense. Mid-South Rising Star Lawyers are: Paul P. Blake, Personal Injury-General: Defense; Christopher Meredith, Creditor Debtor Rights: Business; Allison Simp-

business manager, Sanders is a graduate of Mississippi College with a degree in Communication. Halie Caldwell is a Public Relations Strategist. She constructs integrated communication strategies Sanders and develops messaging tactics. Before joining The Cirlot Agency, Caldwell was a Communications Coordinator for Hospital Corporation of America in Nashville, Tenn., where she was responsible for developing communication strategies. She is a native of Caldwell Ocean Springs, and holds a Bachelor of Arts in Communication with an emphasis in Public Relations from Mississippi State University.

son, Health Care; Blake D. Smith, Civil Litigation: Defense; Timothy Sterling, Civil Litigation: Defense; R. Eric Toney, Transportation/Maritime; Sarah Beth Wilson, Creditor Debtor Rights: Business.

Vicksburg doctor on panel Dr. Susan Chiarito, MD, FAAFP, of Vicksburg has been appointed to a 4-year term on the American Academy of Family Physicians (AAFP) Commission on Health of the Public and Science, one of eight commissions that direct AAFP policy. Board certiﬁed in family medi- Chiarito cine, Chiarito practices at Mission Primary Care Clinic in Vicksburg. She is an advocate for healthy lifestyles and choices, and encourages exercise, dietary changes and tobacco cessation. A member of MAFP since 1998, Chiarito is a past president of the Mississippi Academy of Family Physicians and a board member of the MAFP Foundation. She represents Mississippi as an alternate delegate to the AAFP Congress of Delegates. Chiarito received her bachelor of science in nursing from Texas Christian University and was a practicing nurse for eight years. After returning to school, she received her medical degree at the University of Mississippi Medical School, completing her family medicine residency there. For many years, she has mentored medical students as a preceptor at UMMC. Chiarito and her husband, Vince, live in Vicksburg and have two daughters, Mary Alyce and Cicily. They are members of St. Michael Catholic Church.

Reunion’s Basel honored PGA head professional Tim Basel of Reunion Golf & Country Club in Madison recently was honored as the 2017 Gulf States PGA Professional of the Year. The Gulf States area is Mississippi and Louisiana. Basel is currently Secretary of the Gulf States PGA Section.

Basel

Andrews on BAR forum April McDonald Andrews, an attorney with Heidelberg Steinberger, P.A. in Pascagoula, will join the Mississippi Bar Association’s 2018 Leadership Forum. McDonald Andrews is a graduate of Delta State University and the Mississippi College School McDonald Andrews of Law. She has been practicing law since 2011. Her practice areas include insurance defense and government law, as well as general and appellate litigation.

Bradley lawyers in forum Erin D. Saltaformaggio and Christina M. Seanor, attorneys in Bradley Arant Boult Cummings LLP’s Jackson office and Litigation Practice Group, have been accepted into the 2018 class of the Mississippi Bar Leadership Forum. The Leadership Forum each Saltaformaggio year accepts no more than 20 Mississippi lawyers to gain insight vital to leaders in the legal profession and in service to professional, political, civic and community organizations. Participants have demonstrated leadership in their past accomplishments and current activities and have been in practice Seanor for three to 10 years. Saltaformaggio represents clients in a broad range of matters, including contract disputes, commercial litigation, insurance, and ﬁnancial services litigation. Saltaformaggio is the membership chair of the Jackson Young Lawyers Association and as an adjunct professor of legal writing at Mississippi College School of Law, where she received her J.D. (summa cum laude). She earned her Bachelor of Arts (cum laude) from Kansas State. Seanor represents clients regarding property damage and business interruption claims. She advises on the application of policy language, including choice-of-law, mortgagee, sub-limit, and exclusionary provisions, among others. Her practice also includes the defense of workers’ compensation, attorney malpractice, insurance subrogation and government liability claims. Seanor received her J.D. (magna cum laude) from the University of Mississippi School of Law and her Bachelor of Arts from Ole Miss.

Quinlivan named equity partner Deutsch Kerrigan, L.L.P. has named Matt Quinlivan an equity partner in the firm’s Gulfport office. The law firm is based in New Orleans.

Quinlivan

Gulfport Memorial honored The American Diabetes Association has awarded Education Recognition to the Gulfport Memorial Diabetes Self-Management Program through Dec. 1, 2021. Facilitated by Diabetes Care Coordinator Pamela D. Davis, RN-CDE, the Memorial Diabetes Care program has been in existence since 1990. It was originally awarded Education Recognition in 2003, again in 2014.

January 19 2018

Mississippi Business Journal

THE SPIN CYCLE

TV news audience continues to dwindle

listering fast wireless networks, digital assistants everywhere, and a coming out bash for augmented reality. Americans are relying less on television for their news, according to a new Pew Research Center analysis. Just 50 percent of U.S. adults now get news regularly from television, down from 57 percent a year prior in early 2016. But that audience drain varies across the three television sectors: local, network and cable. Local TV has experienced the greatest decline but still garners the largest audience of the three, according to the Pew Research Center study. From 2016 to 2017, the portion of Americans who often rely on local TV for their news fell 9 percentage points, from 46 percent to 37 percent. By comparison, reliance on network TV news declined from 30 percent to 26 percent. Cable TV news use remained more stable, with 28 percent often getting news there last year, compared with 31 percent in 2016. Even after these declines, local TV still has a wider reach overall for news than network and cable. Some demographic groups turn to each of the three television venues more than others, however. There is a strong relationship between age and television news habits. Younger adults are less likely than older adults to often get news via all three TV platforms. For example, just 8 percent of those ages 18 to 29 often get news from network TV, compared with 49 percent of those 65 and older. Education and income also play a role in local and network TV news consumption habits. For instance, among adults who have completed college, 26 percent often get news from local TV and 21 percent from network TV – much less than those with no more than a high school degree (47 percent and 31 percent, respectively). News use on cable varies little by education or income, however.

Watchers, crediting it with helping her shed pounds, the company has been on a roll. Membership, sales and profits have soared. Winfrey, who also serves on the company’s board, bought her stock at $6.79 apiece for a total investment of $43.2 million in 2015, according to a Securities and Exchange Commission filing. Todd Smith As of Jan. 2, she owned 9.9 percent of the company, according to S&P Global Market Intelligence. She is also CEO of the cable channel OWN. With 6.37 million shares in Weight Watchers, she made a profit of more than $36 million from the closing price the Friday prior to the Golden Globes through the Monday after. That’s still minor compared with Winfrey’s net worth, which Forbes has estimated at $2.8 billion. But it could go a long way toward a potential presidential campaign. Spotify Hits 70 Million Subscribers Spotify is knocking it out of the park! Ahead of its IPO, the streaming music service has hit the 70 million subscriber level – compared to Apple Music’s 30 million. Last July, Spotify had more than 60 million paid listeners and more than 140 million active users. There’s essentially no better time than one day after news leaks about Spotify’s confidential filing to go public to announce a new milestone. Recently, Axios broke the news that Spotify filed with the SEC at the end of December. However, TechCrunch’s Katie Roof has heard differently, citing sources who say Spotify is targeting a debut for the first quarter of this year. As Roof notes, there also is talk that it might not be an IPO, but rather a direct listing on the stock market that does not require a fundraising event. Spotify’s milestone also comes shortly after Wixen Music Publishing hit the music streaming company with a $1.6 billion lawsuit. The suit, filed Dec. 29, alleges copyright infringement, specifically alleging Spotify is using thousands of its songs without a proper license. The lawsuit seeks at least $1.6 billion in damages and other relief.

Oprah’s Golden Globe Speech Huge for Her Brands Media icon, actor and entertainment executive Oprah Winfrey’s inspiring speech at the Golden Globes has generated speculation that she could run for president in 2020 – but it’s also had a more immediate effect, according to USA TODAY. On her brand and net worth. The skyrocketing publicity rippling from Winfrey’s soaring speech, in which she hailed brave women who have Sports Illustrated Moves to Biweekly Publication spoken up about sexual harassment and abuse, appears to Sports Illustrated subscribers got a surprise as they read have translated into a sharp boost for one of her key en- the Dec. 25 issue — not a Christmas gift, rather a lump of dorsements and investments. coal. Weight Watchers, whose stock has skyrocketed since In 2018, an inconspicuous Editors’ Letter announced, Winfrey bought 10 percent of the company in October 2015, got another lift the day after the speech. http://www.msbusiness.com The dieting company’s BANKS shares jumped 12.2 perQ Regions Bank.................................................................................................................. www.regions.com cent in trading to close at HUMAN RESOURCES $52.62, up $5.71. Q People Lease.........................................................................................................www.peoplelease.com Investors are presumINSURANCE AGENCIES ably thrilled at the enorQ Account Services Group........................................................... www.accountservicesgroup.com mous and unexpected LAW FIRMS Q Victor W. Carmody, Jr. P.A........................................................................... www.mississippidui.com round of positive publiciPAYROLL ty for Winfrey’s brand. Q People Lease.........................................................................................................www.peoplelease.com Numerous media reSOCIAL MEDIA MANAGEMENT ports conﬁrm Winfrey is Q Mansell Media.................................................................................................... www.mansellmedia.net “actively thinking” about running for president. Have your business listed here! Contact your Since Winfrey enthuadvertising representative at 601.364.1000 siastically backed Weight

the magazine will publish only every other week (plus of course the Swimsuit Issue). Don’t despair, the editor told readers in the letter. Those fewer issues will have more of the long-form stories that SI sees as its strength, and more photos better displayed on higher quality paper. The Sports Illustrated reinvention plays out as parent Time Inc. is being sold to Meredith and some break-up of its properties is in progress. Sunset Magazine was sold at the end of November and Essence last week. Sale of Golf magazine, is imminent, a Time spokesperson told the Poynter Institute. Silenced Mic: Whoa Nelly, Keith Jackson Signs Off

Whoa, Nellie – Keith Jackson, the voice of college football – has gone on to that big broadcast booth in the sky. The legendary sportscaster recently died at age 89. Jackson, who retired in 2006, spent some 50 years calling the action in a folksy, down-to-earth manner that made him one of the most popular play-by-play personalities in the world. He began his career on the radio in 1952, broadcasting Washington State games, but went on to deliver the national television soundtrack for the biggest games in the most storied stadiums. His colorful expressions – “Whoa, Nellie” and “Big Uglies” among the many – became part of college football legend. He was credited with nicknaming the Rose Bowl “The Granddaddy of Them All” and Michigan’s stadium “The Big House.” Jackson began calling college football games for ABC Sports in 1966. He also worked NFL and NBA games, 11 World Series, 10 Winter and Summer Olympics, and auto racing. In addition, he traveled to 31 countries for ABC’s “Wide World of Sports.” Among his broadcasting accomplishments, Jackson was the ﬁrst play-by-play voice of Monday Night Football when the program debuted in 1970. He called Bucky Dent’s home run against the Red Sox in 1978 as well as Reggie Jackson’s three-homer game in the 1977 World Series. His Olympics highlights include Mark Spitz’s record seven gold medals in the 1972 Games and speed skater Eric Heiden’s ﬁve golds in 1980. Keith Jackson’s voice will forever live as the Golden Mic of college football, and all of us will cherish the ways he brought sports to life in living color!

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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