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2014

October 3, 2014 • Vol. 36, No. 40 • $1 • 28 pages

Back for revival

Jackson’s Landmark Center conversion slated for mixed-use

Education {P 2} » Officials question local school aid spending South Mississippi {P 11} » MSET to oversee new Gulf Coast industries cluster

By TED CARTER ted.carter@msbusiness.com

An Israeli lawyer who is part of a partnership that bought downtown Jackson’s Landmark Center plans to convert the vacant seven-floor office building into a mix of apartments, offices and retail.

Zeev Yochelman, whose partnership acquired the 366,000-squarefoot Capital Street building through an Internet auction in late July, deFILE / The Mississippi Business Journal

The partnership that acquired downtown Jackson’s Landmark Center wants to convert it into a mixed-use development.

See

LANDMARK, Page 9

HUD says Jackson will see return of Farish repayment money

By TED CARTER ted.carter@msbusiness.com

Pearl ordering rental properties to retrofit with sprinklers, build storm shelters More, P 2

Here’s some good news for Jackson city government: The City won’t actually lose the $1.5 million it must repay the U.S. Department of Housing and Urban Development for not meeting HUD rules in the so-far unsuccessful attempts to redevelop Farish Street.

In a clarification, HUD said last week the

» Watkins demands HUD retract claims made in Farish project report — Page 4

repayment will go into a line of credit for the City to draw on for future Community DevelSee

REPAYMENT, Page 5

http://msbusiness.com/events/leadership-law-nomination-form/

2 I Mississippi Business Journal I October 3 2014 ECONOMIC DEVELOPMENT

Pearl ordering rental properties to be retrofit with sprinklers, build storm shelters » Owners of rental units band together to challenge mandate that begins Oct. 17

By TED CARTER ted.carter@msbusiness.com OwnersofPearl'smulti-familyrentalcomplexesandmobile homeparkshavejoinedtofightacitymandaterequiringrental property owners to install interior sprinklers in each rental unit andbuildstormshelterstoaccommodateeachresident.

Representativesoftheownerssaytheyfacemillionsofdollars in retrofitting costs and displacement of tenants to meet thesprinklermandate.Equallyhighcostsaccompanybuilding shelters Pearl says must be strong enough to withstand an F2tornado.Someproperties,especiallymobilehomeparks,lack landonwhichtoputtheshelters,representativessay.

Theordinanceeffectsmorethan2,000rentalunits,including single-family homes and condominiums whose owners rent them out. The City Council passed the ordinance on June 27, 2013 on a 5-0 vote but waited until Sept. 17 to publish the required legal notice. An amendment to the Rental Housing Code,theordinanceiseffectiveOct.17.

The legal notice incorrectly stated ordinance passage occurred on June 27, 2014. City attorney James Bobo said in an email Monday that the error “should no impact the effective date”oftheordinance.

TheapartmentownersandtheheadoftheMississippiHome Builders Association had been negotiating with city officials in hopes of getting the interior sprinkler and shelter mandates dropped. As recently as the end of last week, MHBA President Marty Milstead thought a compromise of some sort could be made.“We'restilltalkingthisthrough,” hesaidlastFriday.

“Thefolkswerepresentwhicharethemulti-familyowners areonboardwithtryingtohelpPearlimproveitsrentalstockbut notputthemoutofbusinessortenantsoutonthestreet.”

The storm shelter requirement is “a huge one” that he has beenunabletofindcommongroundonwiththeCity,Milstead said.“How do you do that when you haveexisting structures.

Itseemsunreasonable.”

Thesprinklerretrofitsalsoinvolveabigexpense,inaddition tolostrentsastenantsareforcedoutoftheirunits,accordingto Milstead.

“We're talking about occupied units that you are going in andgutting,” hesaid.

Absent a concession on the sprinklers and shelters, “The onlyoptionyouhaveistolitigate,” Milsteadsaid.

Jackson attorney Steve Smith took steps in that direction last Friday with the filing of a notice of appeal with the Rankin County Circuit Court. The next step is a “Bill of Exceptions,” whichisanofficialchallengetotheordinanceandwillberuled onbyacircuitjudge.

Smithestimatesherepresentstheownersof1,500to2,000 Pearlrentalunits,includingfourorfivelargecomplexesaswell asahandfulofmobilehomeparksandsmallrentalunits.

Apartment owners must apply for rental permits annually.

Smithsaidheexpectsthosenotmeetingthenewcodeswon’t receivepermits.

“It is unlawful and beyond the power of the board to do this,” Smith said. “We think it is arbitrary and capricious and unlawful under both the state and federal constitutions.”

LEGAL FILING SEEKS TO HALT PEARL’S EFFORT TO EASE OUT MOBILE HOMES

By TED CARTER ted.carter@msbusiness.com

or Idaho and their experience with tornados is at best negligible and by comparison to Mississippi nonexistent,” Bobo said in an email.

Pearl’s efforts to keep mobile home parks from Even more important, he said, is a flaw in the re-renting spaces after a space is vacated have appellate court ruling that difference exists between a met with a suit from the owners of Grove Acres “site-built apartment complex, a site-built parking Mobile Home Park. garage, a site-built storage facility and a group of Pearl insists its desire to whittle the number of mobile home lots.” mobile homes in the city is based on the risks to Such a judicial finding, Bobo said, “reflects mobile home parks from natural disasters such as exactly why local elected officials who live in a hurricanes and tornadoes. It’s further concerned community and routinely deal with building, zoning that allowing parks to remove mobile homes and and planning matters” can better judge “the replace them with no end in sight diminishes the fundamental nature of things and the surrounding value of surrounding developments and property facts than others who do not have the benefit of that uses, thus damaging the tax base of the city of frontline perspective.” about 25,000 residents.

Peterson said state legislators in enacting The challenge is to Pearl’s insistence that Grove Mississippi Code 17-1-39 prohibited localities from Acres and other manufactured home parks situated in zoning mobile home parks out of existence, stating areas zoned for commercial uses are non-conforming. specifically that they must be allowed to be The City says the parks are not entitled to continue “located in at least some part or portion of the the non-conforming use on a rental space after that municipality or county.” space is vacated.

Pearl has never had a zoning designation for mobile The Homewood Co., an affiliate of The State Street home parks or manufactured home parks, though it Group in Jackson and owner of Grove Acres, 2183 Old does allow mobile homes – but not mobile home Brandon Road, filed the challenge. parks -- as conditional uses in areas zoned for Justin Peterson, lawyer for State Street Group, said residential. The aldermen and mayor must approve the challenge is strengthened by an August each conditional use.

Mississippi Court of Appeals ruling that found a Pearl inherited some of its mobile home parks upon similar ordinance adopted by the City of Richland to incorporation in 1973 and has labeled them nonbe “arbitrary, capricious and illegal.” conforming uses ever since.

“The Court of Appeals held that the City’s position Peterson argues on behalf of Grove Acres that Pearl ‘deprived the property owner of his constitutional officials had routinely allowed replacement of mobile right to enjoy his property,’” Peterson noted in a cover homes in the park and accepted permit fees for to his appeal of the City’s refusal to allow re-renting of placement of at least 16 new manufactured homes. vacated home manufactured home spaces.

The Homewood Co. bought the 11-acre park in 1998.

Invoking a zoning ordinance Peterson calls The value of the land and manufactured homes there “materially similar” to that of Pearl, Richland had is around $1.5 million, according to Peterson’s filing. deemed the Cleveland Mobile Home Park a nonSix lots remain vacant as a result of the city’s refusal conforming use. However, in a key conclusion, the to allow replacement of mobile homes taken out of Court of Appeals ruled the re-renting of spaces the park. amounted to an “extension” of the Old Highway Peterson noted in his filing that the City zoning 49 park’s grandfathered status and not an ordinance adopted in 2009 specifies manufactured “expansion” of it. homes are permitted in any Manufactured Home The ruling reversing a 2013 ruling by Rankin Circuit Subdivision District as either owner-occupied or Judge Huey Ernfinger emphasized that whether rentals. Manufactured homes also are permitted in an mobile homes or apartments, Mississippi law Agricultural District by conditional use. recognizes that “continuation of a non-conforming “Manufactured home parks, on the other hand, are use is a well-established substantial right.” not permitted in any district,” Peterson wrote.

The main requirement is that no expansion of the City Attorney Bobo said mobile homes are allowed non-conforming use occurs, according to Peterson. in residential zones and owners have been able to Judge Ernfinger is expected to hear the Pearl replace the homes “without running afoul of the City’s challenge. James Bobo, Pearl city attorney, said he doubts the Richland ruling will have much bearing on zoning ordinance.”

Peterson countered that Pearl has not acted the Pearl case.

“The Court of Appeals’ opinion in the Richland matter consistently in allowing replacement of mobile homes in residentially zoned areas. Further, he said, the Court creates a new ‘right’ which did not previously exist in of Appeals ruling does not specify that continuation of Mississippi and is instead based upon decisions from the non-conforming use be limited to a particular Arizona and Idaho, which are states with very little in common with Mississippi. Hurricanes do not hit Arizona zoning classification.

While the ordinance notes in generalities the public safety benefits, it lacks data or documentation to support perceived benefits,accordingtoSmith.

CityAttorneyBobodidnotreturnphonecallslastweekand thisweekseekingcomment.

Like Milstead, Smith said he has negotiated with city officials in hopes of a compromise. But the published ordinance is identical to the one adopted in June 2013, he said.

“This is pretty onerous, to say the least,” Smith said, estimatingthecostathundredsofthousands,ifnotmillions,ofdollars“perproperty.”

“It's one thing for municipalities and counties to adopt codes, but it isa horseof a different color to comeback after thefactand requirepeopletoadheretoabuilding codethat wasn't in force” at the time of construction, he added.

BothSmithandMilsteadsaytheysuspectthatPearlisseekingthesameoutcomeasRidgelandinpushingoutrenters.

Ridgeland has adopted a measure to classify all multi-unit rentalcomplexesasnon-conforming.SomeownersofRidgelandapartmentcomplexesfaceforceddemolitionoftheircomplexeswhileotherscouldbeforcedtodemolishunitstomeet newbuildingdensityrules.

Lawyers for Bay Meadows Apartments have sued to prevent demolition of the complex and charge Ridgeland's goal is to rid the city of Hispanics and African-Americans.

Ultimately, Ridgeland and Pearl appear to want renters removedfromtheircitylimits,SmithandMilsteadsay.

“Itlooksthatway,” Smithsaid.

“I don't see how you can take it any other way,” Milstead said.

Headded,though,thathestillhasameasureofbeliefPearl is “trying to have some teeth” to get upgrades of rental complexesthatdon'tincludethesprinklersandshelters.

Ridgeland,ontheotherhand,“isclearlytryingtohaveavehicletocloseapartmentsandcomplexes,” hesaid.

The City of Ridgeland's action is drawing attention nationwide,includinglargeconcernfromtheNationalAssociationof HomeBuilders,accordingtoMilstead.

Oneworrylocallyisthatthemovementagainstmulti-familyhousingwillspreadtoothercommunitiesinMetroJackson aswellaselsewhereinMississippi,Milsteadsaid.

“Wearealwaysconcernedaboutprecedentsbeingsetwith ordinancesorlaws.”

October 3 2014

I

Mississippi Business Journal

Officials question local school aid spending

S

tate education officials making their legally-mandated push to support Mississippi’s school funding formula were questioned Tuesday in a budget hearing about rising spending on administrators and whether lawmakers should spend more money on programs not included in the formula.

The Legislature would have to add an estimated $311.7 million to the Mississippi Adequate Education Program in the 2016 budget year to provide what the formula calls an adequate amount of aid to school districts. That gap is up from $257 million this year, in part because officials will need to add more than $100 million next year to cover the second year of across-the-board teacher pay increases.

Lt. Gov. Tate Reeves and others are asking whether local districts are spending money wisely. He cited figures showing some schools had cut instructional spending while in- “School districts creasing administrative spending. around the state Among all districts from 2008 have chosen to to 2013, spending spend less on on instruction rose 0.5 percent, instruction and while spending on general adminis- more on admintration rose 9 per- istration. Is there cent and school a d m i n i s t r a t i o n any way to jusrose 6.9 percent. “School districts tify those around the state trends?� have chosen to spend less on inTATE REEVES struction and Lt. Gov. more on administration,� said Reeves, a Republican. “Is there any way to justify those trends?�

House Speaker Philip Gunn, R-Clinton, said he wants to find ways to channel more money to the classroom. “We’ve got to figure out a way to curb the bad decisions and encourage the good decisions,� Gunn said after the hearing. That might require changes to the formula, he said.

State Superintendent Carey Wright said the only explanation she could give is that districts had cut the number of teachers to make ends meet.

Several lawmakers noted that they had appropriated more money outside the formula meant for classrooms. “We’re doing our best with what we have to slice this pie, to make sure money goes to the classroom even if it’s outside the formula, for things we believe in,� said Sen. Terry Burton, R-Newton. “The classroom component of the formula is not underfunded to the extent that people think it is.�

The State Department of Education asked for an additional $18 million for programs that aren’t formula-driven, including $5 million for a new computer system to track financial and student data, $1 million for

 See more on legislative spending / education. — Pages 6-8

additional test cheating investigations and a $6 million increase for prekindergarten funding. Reeves asked if Wright would prefer lawmakers fund any of those programs before filling the entire $311.7 million gap in

the formula. Wright said she’d prefer lawmakers to fund the formula. “I would never want to take money away from schools,� she said. “That is all they have to function on.�

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4 I Mississippi Business Journal I October 3 2014

COMMERCIAL REAL ESTATE

Watkins demands HUD retract claims made in Farish project report » Developer charges officials of the agency have 'conspired' with yet-to-be-named local officials to damage him

By TED CARTER ted.carter@msbusiness.com

Watkins Development's David Watkins is demanding the U.S. Department of Housing and Urban Development retract negative characterizations it has made about him and his partners regarding their involvement in the redevelopment of downtown Jackson's Farish Street.

The angry reaction from Watkins stems from a Sept. 7 monitoring letter to Jackson city officials detailing what says are years of failure by the City to do sufficient oversight of the Farish Street project.

HUD's “inaccurate, reckless” and “libelous” characterizations have caused “extreme” damage to his reputation and those of his partners,Watkins said in an eightpage letter to Stanley E. Field of HUD's compliance division in Washington. .

Further, fallout from HUD's actions continues to cause him and his partners “significant stress, embarrassment and anxiety,” he wrote in the Sept. 29 letter.

In his retraction demand, Watkins said HUD “illegally” suspended his firm and its executives from involvement with HUD-funded projects until further notice. Watkins asks for an investigation by the FBI and U.S. Attorney's Office “to determine whether or not criminal statutes may have been violated that would allow prosecution “of the individuals involved with the violation of our civil rights.”

He said he suspects “based upon information and belief ” that employees and agents of HUD have “intentionally engaged in a conspiracy.”

They conspired, he claimed, with “yet to be named local officials/employees” to provide mischaracterizations that went into the HUD report. Watkins charged the conspiracy was aimed at damaging pending litigation he has over Farish Street Group's removal as project developer.

The HUD suspensions include the Jackson Redevelopment Authority and former Watkins Development execu-

tive Jason Goree, who is now interim director of Jackson's Economic Development Department.

HUD officials in Jackson and Washington declined to talk publicly last week about the Sept. 7 monitoring letter to Jackson city officials giving the city and the Jackson Development Authority until Oct. 7 to repay $1.5 million HUD spent on properties that make up the three-block Farish Street redevelopment. The agency also demands the city and JRA take a host of “corrective actions” to bring compliance with HUD rules.

A key finding in the monitoring letter is the City's failure to certify the Jackson Redevelopment Authority as “sub-grantee” authorized to spend HUG money on the project. The letter also cites the JRA for what HUD says is its failure to use a competitive bid process in selecting Watkins Development and affiliate The Farish Group to take over the project from original developer Proforma-Mississippi.

Watkins' strongly-worded letter to HUD does not address the “sub-grantee” issue between the City and JRA, but challenges the claim Watkins won the Farish project without a competitive process.

Watkins said the JRA engaged in “many months of efforts” in 2008 to seek interested parties to take over what was then a failing project.

“There was a competitive bidding process,” Watkins writes. The conclusion that no competition occurred “is arbitrarily in the report because there was no 'sealed' bid,” he adds.

Reaching a conclusion that a sealed bid would be required “in this instance is arbitrary and capricious,” said Watkins, who retired as a lawyer several years ago to become a full time developer.

“Our group agreed to assume the debt and the risk of development primarily because there were no developers anywhere willing to take on the project.” he said.

Watkins has said city government and civic leaders who prodded him to take over the project were betting he could have the same success converting Farish Street into an entertainment destination that he was having restoring downtown's King Edward Hotel and Standard Life Building.

The wager has so far failed to pay off.

The Farish Street project has been dead See

WATKINS, Page 27

October 3 2014

REPAYMENT

Continued from Page 1

opment Block Grant projects. City Council members last month bemoaned the hit to the budget the repayment would require, apparently unaware the money will be returned for future use.. “The money will essentially stay in the community to be used as the rules allow,� said HUD spokesman Brian Sullivan in Washington, D.C. HUD’s lone stipulation for allowing the money to be used for replenishing Jackson’s Community Development Block Grant, or CDBG, allocation is the money repaid HUD is not from a federal source.

The City and the Jackson Redevelopment Authority landed in hot water with HUD after the agency discovered city officials at the start of the Farish Street project 17 years ago failed to officially qualify the JRA as a “sub-recipient� of HUD CDBG money.

HUD money was used to buy the 17 storefront parcels that make the now-stalled three-block Farish Street project.

In subsequent years, the City failed to monitor the JRA’s efforts to convert Farish Street into an entertainment district. A chief violation, according to HUD, was the JRA’s non-competitive award of a 45-year lease and development contract to Watkins Development and its Farish Street Group affiliate. HUD said its regulations required a request-for-proposals process, something the JRA did not do in transferring the development lease from original developer Performa-Mississippi to Watkins Development in 2008.

HUD demanded the repayment in a Sept. 7 “monitoring� letter which gave the City 30 days to pay up or make arrangements for paying. The agency also set a host of conditions for the City and the Jackson Redevelopment Authority to meet before it lifts a suspension of the JRA from involvement in current or future HUD-funded projects.

Jennifer Johnson, JRA board chair, said in an interview last week that she is trying to find out the number of projects undertaken by the JRA that fall under the HUD suspension. “Farish Street is the only one that I know about� that involved non-compliance with HUD rules, she said. “I sent a list to HUD. They said they would review it and tell us which properties have HUD guidelines attached.�

She said she did not get a clear answer from JRA when she posed the same question.

Johnson gained a tentative agreement form the JRA board Wednesday to cover the $1.5 million repayment. The JRA can’t afford to have a HUD suspension in place over the three years the city had planned to make the repayments, she said. City officials had tentatively agreed to begin payments of $503,000 annually for three years starting in December 2016.

The JRA has assets of around $42 million and debt of about $11 million. Its revenues come from fees on bond issues it adminis-

ters, building rents and money from parking garages it owns.

Johnson said she is confident the JRA can come up with the $1.5 but is not sure what funds it take the money from.

If need be, the agency could get a loan for $1.5 million, according to Johnson.

The City of Jackson had agreed to repay the money The JRA board agreed to pay the money but must vote either in a special meeting or at next month’s regular meeting to officially approve the repayment.

Paying the money “would free us up� to resume work on redevelopment projects throughout the city that involve HUD

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The Farish Street project has been dead since the JRA terminated a 45-year lease agreement with Watkins Development and its Farish Street Group affiliate last October.

Alderman Melvin Preister, chair of the City Councilâ&#x20AC;&#x2122;s Budget Committee, said even though the HUD repayment will ultimately come back to Jackson, â&#x20AC;&#x153;Our concern is that anything we have to spend out of our pocket â&#x20AC;&#x201C; even if it becomes a credit later â&#x20AC;&#x201C; is money we donâ&#x20AC;&#x2122;t have right this second.â&#x20AC;?

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Website: www.msbusiness.com October 3, 2014 Volume 36, Number 40

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MBJPERSPECTIVE October 3, 2014 • www.msbusiness.com • Page 6

OUR VIEW

Why no introspection on causes of HUD trouble over Farish St.

R

aise your hand if you are surprised by the U.S. Department of Housing and Urban Development’s conclusion that redevelopment of downtown’s Farish Street has been the least of Jackson City Hall’s concerns the last decade and a half.

Seeing no hands, let us proceed.

Cause-and-effect is a good place to start.

Remarkable indifference, professional carelessness and unaccountability are going to cost City Hall — or just maybe the ungoverned Jackson Redevelopment Authority — $1.5 million. It’s money HUD paid from 1998 to 2002 for the properties that make up the now-dead Farish Street project.

Having concluded city officials violated HUD rules in taking the money and in the following years let the JRA ignore rules with the Farish project, HUD wants its money back.

The Jackson Redevelopment Authority wants to cover the repayment – not out of contrition but purely as a cost of doing business.

HUD, you see, has suspended the Authority from all involvement with HUD-related projects until further notice. The JRA presumes paying HUD gets the suspension lifted. Maybe so, but in the meantime other redevelopment needs must go unmet.

It’s been more than 20 days since HUD put the hammer down in an 18-page “monitoring” letter. Nothing has come from Mayor Tony Yarber and aldermen to signal to the people they serve that they will get serious about oversight of the Jackson Redevelopment Authority.

Likewise with the JRA governing board.

In a Sept. 25 meeting that marked their first convening since the HUD repayment demand, board members made no mention of how they can become more accountable. The See VIEW, Page 8

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

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Leaders of Mississippi government agencies are appearing before lawmakers this week to request money for fiscal 2016, which begins July 1.

Among those seeking an increase in funding are three big departments: Health, Human Services and Corrections.

Dr. Mary Currier, the state health officer, told lawmakers Tuesday that she is requesting an additional $27.2 million for the Department of Health.

That includes money for the state health laboratory and for efforts to reduce infant mortality. Mississippi has long had one of the highest infant-mortality rates in the nation.

"There are things we can do about it," Currier said.

Among other things, she said, the state can help provide medical services for pregnant women who are not covered by private or government-sponsored insurance. Currier is requesting $1 million for that, from a state budget that will top $6 billion.

She also said most hospitals that deliver babies in Mississippi have set policies to discourage elective early births that are not medically necessary. A fullterm pregnancy is 40 weeks, and Currier said the state is seeing a decrease in elective births that are done at 37 or 38 weeks.

Department of Human Services director Rickey Berry said the state needs to spend an additional $12 million to meet requirements of a foster-care lawsuit.

Mississippi has seen an increase of 450 children in foster care in the past year, Berry said. The increase has been especially steep in coastal counties, he said, and many of the children are being put into foster care because of drug use by their biological parents.

Berry also said DHS has 820 social workers on the payroll, but faces 148 vacancies for the jobs.

"That is a high-turnover, high-stress occupation," See LEGISLATURE, Page 7

PERSPECTIVE

October 3, 2014 I Mississippi Business Journal

I

» RICKY NOBILE

» EDUCATION / READING

Third-graders face high-stakes targets

T »UNDER THE CAPITOL DOME

Debate renews on indigent defense

I

n 1997, the Mississippi Legislature’s reluctance to finance a statewide public defender system prompted then-Gov. Kirk Fordice to recommend fashioning a payment plan to encourage private lawyers to handle death penalty cases — the main concern at that time.

Fordice has proposed increasing the hourly rate paid to attorneys appointed to such cases and tie the payment plan in some way to a district attorney’s salary. The proposal didn’t go anywhere.

By 2011, the Office of State Public Defender was created.

Its Capital Defense Counsel Division assists in death penalty trials and appeals throughout the state. The Indigent Appeals Division handles all felony indigent criminal appeals.

Mississippi’s failure to provide for a state-funded public defender in the local courts is at the core of the American Civil Liberties Union’s federal lawsuit against Scott County, where the ACLU argues people have been held illegally in jail for as long as a year without having counsel or appointed or appointing counsel or presenting cases to a grand jury.

“Scott County jail routinely holds people without giving them a lawyer and without formally charging them for months, with no end in sight,” said Brandon Buskey, staff attorney at the ACLU’s Criminal Law Reform Project.

A statewide program, which would have placed a public defender in each circuit court district, was first proposed in 1995.

But officials estimated it would have cost $11 million and it was not funded.

Currently, local boards of supervisors in Mississippi counties can hire and pay public defenders.

In most Mississippi counties, public defenders are private attorneys who are under contract to take on indigent cases part time. They are usually paid a flat fee.

Public defender systems are not perfect, proponents argue. The ideal would be for the number of public defenders to equal the number of prosecutors, but that doesn’t happen, they say.

Arkansas has had a statewide public defender system since 1998. It was the model for a Mississippi system in 1999, but lawmakers couldn’t come up with Jack Elliott the funding for it and it never got it off the ground. The law was repealed in 2002.

Atteeyah Hollie, a staff attorney at the Southern Center for Human Rights in Atlanta, said Mississippi and other states similarly situated must take steps to assure prisoners have legal representation.

“Like many states across the Deep South, Mississippi has sidestepped its fundamental duty to provide lawyers to its poor residents charged with crimes, opting instead to saddle cash-strapped, rural counties with this Herculean task,” Hollie said. “The end result is what we see in Alabama, Georgia, Texas, and Mississippi, a shocking indifference to one of our greatest equalizers — the right to counsel for everyone, regardless of income.

“These practices are not only illegal, but incredibly shortsighted,” Hollie said. “Poor people languish in jails for months, and sometimes years on end without any meaningful contact with a lawyer or the court, and it must stop.”

In 2014, 22 states directly funded indigent defense services, according to The National Law Journal.

he games, ice cream and play rehearsals that 9-year-old Joshua Rowell experienced during summer school this year weren't just for fun.

Joshua, like thousands of Ohio third-graders, had missed a state literacy target on a standardized test. He faced being held back in third grade unless his reading skills improved.

As fellow summer school students at Clinton Elementary School rehearsed a play, "The Trial of the Big Bad Wolf," Joshua said activities like playing word games, making recipes and practicing play scripts helped, but he also had to work on reading at home.

"Because of my homework, I would have to read 80 or 60 minutes," he said.

Across the nation, the 8- and 9-year-olds in third grade are increasingly feeling the pressure.

Since the idea was pioneered in Florida in 2002, automatic retention for unsatisfactory third-grade reading scores has spread to at least nine states, according to the Tallahassee, Florida-based Foundation for Excellence in Education, which tracks the movement.

In 10 other states, third-grade retention laws have certain caveats, such as giving parents a final say or requiring reading intervention before students can be held back.

The concept is based on education literature that describes third grade as a critical juncture for students, a moment in their education when they shift from "learning to read" to "reading to learn." Reading, in other words, moves from being a subject to be studied to become a tool to be employed. It's also popular among state lawmakers who believe the current education system allows for "social promotion," wherein students are passed to the next grade for social reasons even though they haven't attained educational targets.

Education officials where the idea has been adopted tout myriad benefits, as they face critics who say holding back third-graders is hard on kids and families and adds to the costs of education.

"This will have a positive effect on our whole state," the Florida Department of Education says in online guidance to parents. "It will reduce the need for remedial education in middle and high school and may lower dropout rates and juvenile delinquency."

In Ohio, where the Third Grade Reading Guarantee went into effect this year, more than 12,000 third-graders faced retention See READING, Page 8

See ELLIOTT, Page 8

7

PERSPECTIVE

8 I Mississippi Business Journal I October 3, 2014

READING

Continued from Page 7

after the first round of reading scores were calculated in June.

But there was good news for 25,000 other third-graders who initially had missed the reading target; they now had passed. Many had signed up for summer school as a precaution, Clinton Elementary school principal Kathy Leffler said.

Third-grade teacher David Wilson, who taught the past two summers, said he's witnessed heightened anxiety during both the regular school year and in summer school since the retention requirement was put in place.

"I had one student who was throwing up every day" in the days leading up to the reading test, he said.

Alicia Priest, vice president of the Oklahoma Education Association, said her state's retention law was revamped last year to give families and teachers more say in whether a child stays in third grade or moves on.

"That snapshot of that child's reading on that one day in April was determining whether they should advance to the next grade," she said. "We believe you should look at the whole child: What are the other factors that might have impacted that test, their abilities in other subjects, the social issues involved if they're held back?"

The Foundation for Educational Excellence says any stress from adding retention requirements ultimately will be trumped by long-term benefits. The center says the vast majority of high school dropouts did not meet third-grade reading requirements.

Ohio Department of Education spokesman John Charlton said the state is providing additional opportunities for third-graders to earn a promotion score in reading. Beyond the end-of-year test, there was a follow-up exam in August, along with the option of taking one of three alternate assessments. Third-graders who are held back also may take the reading test again mid-year.

ELLIOTT

Continued from Page 7

Matt Steffey, a professor at the Mississippi College School of Law in Jackson, said the issue in Mississippi is money.

“It is expensive. It is a matter of costs and logistics because of the rural nature of our state. In a state like Delaware, it is not so much a money issue because of its geography,” Steffey said.

LEGISLATURE

Continued from Page 6

Continued from Page 6

concern instead was how to reopen the HUD money pipeline.

Nor did either City Hall or the JRA voice concern the Farish blunders could be just the first of deeper troubles with other bungled projects. A Jackson convention hotel, perhaps?

One alderman said in an interview with the MBJ that City Hall can’t go pointing fingers at the JRA without three fingers pointing back at it.

Well, yes.

Here’s why: City officials wanted to transform a severalblock portion of downtown’s historic Farish Street into an entertainment destination. They turned the job over to the highly insulated, non-transparent JRA.

» WHAT YOU’RE READING Here are the most-read stories on msbusiness.com from September 24-October 1.

1. Delta Group finds ready market for drones 2. Bridging the Blues returns for third year 3. Harrison uses baseball experience in business

Joshua Rowell's mother, Char, said he thrived in summer school and got a score of accelerated on the August test. He's now in fourth grade.

Charlton said, "We're trying very hard not to stigmatize the student, which is very important to us and to families and educators."

He said districts are embracing the concept. "We've seen lots of creativity like before- and after-school programs, bringing in senior citizens to help the children, using peer tutors," he said.

The expansion of retention laws comes as a recent Dartmouth University study contradicts the widely-held notion that students stop learning to read in third grade.

Associate Professor of Education Donna Coch said her research looked at the elasticity of the brain when it comes to reading by comparing third-graders to college students. Her study found that third-graders' brains had not yet fully developed the processors that allowed the college students to see strings of letters and symbols as words.

"These third-grade reading guarantees are implicitly buying into the idea of a fourthgrade shift," she said. "Our data suggests there is no fourth-grade shift."

— The Associated Press

Nonetheless, Steffey said in the absence of a public defender system, a person “languishes in jail ... and in some places, there’s the lack of a mechanism for keeping track of those in jail.”

“This is usually a problem when a defendant has no one to push their case to the attention of a judge,” he said. “Clients without lawyers find their cases move slower, they are less likely to get bail or bail is higher.”

Jack Elliott covers politics for The Associated Press.

he said.

Corrections Commissioner Chris Epps is requesting an $8.2 million increase for prisons. The biggest portion of that, $5.8 million, would help pay for four privately run prisons.

The Joint Legislative Budget Committee started a series of hearings Tuesday at the Woolfolk state office building near the Capitol. The hearings run through Friday, and they're open to the public.

VIEW

» The Foundation for Educational Excellence says any stress from adding retention requirements ultimately will be trumped by long-term benefits.

The current chairman of the committee, House Speaker Philip Gunn, said most agencies are making reasonable budget requests.

"They understand that the intent of this committee is to be conservative in our spending," Gunn, R-Clinton, said after the hearing.

The Republican-controlled Budget Committee and Republican Gov. Phil Bryant will release separate budget recommendations in December. The election-year legislative session begins in January. If lawmakers stay on schedule, they will adopt a budget by early April.

The City established the JRA in 1968 to guide Jackson toward rejuvenation but over the decades let it become a closed shop long on secrecy and short on accountability.

While Jackson city officials looked the other way, the JRA’s hired staff led the agency’s governing board into decisions it should have never made. From the first days of the Farish Street project, neither attorneys for the City nor the JRA bothered to do the routine legal work that would have qualified the JRA as a sub-grantee of the City.

That seriously flawed effort set the stage for troubles to come. In the years that followed, lawyers for the JRA remained silent about obligations to HUD – at least in the advice they gave the board in open session. Lawyers at City Hall were equally mute about adhering to HUD rules.

Having decided to phase out the services of Zach Taylor of Jones Walker after two decades, the JRA has filled the general counsel position with the promotion of longtime former

4. DAVID DALLAS: Mississippi’s in’adequate’ public schools 5. Jackson’s $1.5M HUD repayment to come back to city

» MBJ COMMENTS ONLINE

Hoping the right thing done RE: “Cochran’s team prepares for court in election dispute with McDaniel” (Ross Reily Blog, Sept. 25) ... Everyone in Mississippi knows that thousands of Illegal votes were cast in this election, based on the prior election that had McDaniels thousands of votes ahead.

The only way Cochran could possibly win was to in some way get out the vote of Democrats who voted in the Democratic primary, which made them ineligible to vote in the Republican primary by Ms. state law.

Cochran’s campaign targeted Democratic voters with a sleezy mass telephone campaign that portrayed McDaniels as someone who was against them, and would vote to harm them if elected.

The head of the Mississippi NAACP even commented that it was illegal and shameful the way Cochran had run his campaign, and scolded those ineligible voters who went illegally to the polls. He said the election was a sham, and did not represent how elections should be run!

This is the greatest opportunity for the Mississippi State Supreme Court to rule in a manner that is legal, true and right, and will send a message to the nation that Mississippi is no longer the steretyped image of a state still stuck in the 1960’s in the minds of so many Americans from watching programs on television and movies that depict it as such!! MS SUPREME COURT, DO THE RIGHT THING!!!

Crime pays RE: “PEER: Backlog of parole candidates costing state” (Sept. 22) ... Well, why don’t we let all of these “offenders” out. The Department of Corrections has taken the Stockholm Syndrome position. Why do we as tax payers have law enforcement arrest individuals selling assorted drugs on just about any street corner when they will only get probation. They will only have to report about 4 times a year. Crime pays in MS and it pays well.

associate counsel Pernila “Penny” Stimley-Brown. It also has removed the “interim” from the director title of Willie Mott, who returned to the JRA as interim director in late 2012 after serving in the post from 1996 to 2006.

In neither case did the board search beyond its board room. This looks to be more business-as-usual and reflects a lack of energy and desire to find the best qualified people for the two very important posts.

Instead of results, the handling of the Farish Street redevelopment by City Hall and the JRA has brought Jackson an erosion of confidence that either cares enough to get things right.

Both will be asking the public for patience in the weeks to come. They should first have to show a positive reading on the care meter.

October 3 2014

LANDMARK

Continued from Page 1

tailed his plans to an informal breakfast gathering in Jackson on a recent Saturday. He said he and his partners developed a quick fondness for Jackson and believe downtown is ripe for a mixed-use project such as the one they plan for the Landmark.

Local commercial real estate broker Michael Lewis was among those who attended and accompanied Yochelman on a tour of the 175 E. Capitol St. building later in the day. â&#x20AC;&#x153;He had been to Jackson and doubled back to look some more at the city and the metro area,â&#x20AC;? said Lewis of Leah Cim Real Estate & Property Management.

The glass-enclosed Landmark building drew Yochelmanâ&#x20AC;&#x2122;s interest right away and getting inside to look around was â&#x20AC;&#x153;icing on the cake,â&#x20AC;? Lewis said.

The new owner envisions 80 residential apartments on the top two floors, which would cover about 100,000 square feet, and a restaurant, coffee shop, retail stores and bank on the first floor, Lewis said. Floors in between would be leased for offices, he added. â&#x20AC;&#x153;He definitely sees the potentialâ&#x20AC;? for all of the uses, especially residential, Lewis said of the new Landmark owner.

Lewis said Yochelman did not give an estimate of costs involved in conversion of the more than 25-year-old building to mixed use. Nor, according to Lewis, did he say how soon he can start the project.

Yochelman, however, indicated he wants to move quickly, Lewis noted. â&#x20AC;&#x153;He did say he is a proponent of â&#x20AC;&#x2DC;Time Equals Money,â&#x20AC;&#x2122;â&#x20AC;?

Lewis said.

Another business person on hand for the breakfast briefing said Yochelman thinks downtown Jackson can

be revitalized and transformed into a live-work-andplay destination.

The apartments he plans for the Landmarkâ&#x20AC;&#x2122;s upper floors would be designed for downtown workers and professionals and would rent at market rates.

Conversion to apartments is going to require extensive plumbing work that must be completed before leasing out office spaces on the lower floors, the Jackson business person said.

The residential component will also require creating about 150 parking spaces on site A Jackson architectural firm is reported to be doing preliminary design work for the conversion.

The purchase of Landmark Center and planned conversion is a turn of fortunes for both the building and downtown Jackson.

It follows a series of setbacks for the Landmark, the most recent of which occurred last spring when the University of Mississippi Medical Centerâ&#x20AC;&#x2122;s dropped interest in purchasing it.

The death of that deal hit especially hard as downtown leaders considered the prospect of 300 or so additional workers coming to the Central Business District each weekday a game changer.

The Board of Trustees of the Mississippi Institutes of Higher Learning had approved the purchase of the building for between $6.1 million and $6.5 million and planned improvements such as a new roof.

The UMMC disappointment followed the Landmark Centerâ&#x20AC;&#x2122;s loss in a competition with Clintonâ&#x20AC;&#x2122;s SouthPointe Business Center to become the new home of the Mississippi Department of Revenue. With the demise of the DOR and UMMC deals, downtownâ&#x20AC;&#x2122;s office space vacancy remained in the high 30 percent range.

Itâ&#x20AC;&#x2122;s not known what Yochelman and his partners paid for

I

Mississippi Business Journal

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the Landmark, though it is believed to have gone for about $2.125 million. The sale price included a 5 percent premium to Auction.com.

The final bid price surprised the Hertz Investment Group, a prominent downtown Jackson office property owner that had sought to buy the building. â&#x20AC;&#x153;We had no idea it would trade up that high,â&#x20AC;? said Jim Ingram, Hertz senior VP and chief investment officer, of the price $2 million-plus sale price.

In an interview just after the auction, Ingram said he based his lower price estimate on the costs related to refurbishing the nearly three-decade-old building, including replacing its roof.

Hertz began negotiations to buy the Landmark after the UMMC withdrawal but could not strike a deal with owners U.S. Bancorp. The building subsequently went to auction.

Ingram said Hertz Group sees the Landmark and the need to have it reoccupied as hugely important to downtown Jackson. â&#x20AC;&#x153;I was hoping we could acquire it for a price less than $2 million and try to salvage the UMMC transaction,â&#x20AC;? he said, indicating Hertz would have passed the property on to UMMC at the price it paid.

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

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

Two appraisals valued the building at $9.5 million and $11 million, respectively. Hinds County tax records have a market appraisal of about $7 million for the building. Its taxable value is just below $2 million.

Landmarkâ&#x20AC;&#x2122;s owners paid about $240,000 in taxes on the building last year, tax office records show.

WATKINS & EAGER Attorneys and Counselors at Law

Congratulates

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10 I Mississippi Business Journal I October 3, 2014 SCIENCE / TECHNOLOGY

NASA, ATK complete test of Launch Abort System component ECONOMIC DEVELOPMENT

Canfor to buy Mississippi sawmill for $48.7 million HERMANVILLE — A Canadian company is buying a sawmill in southwest Mississippi for $48.7 million.

Canfor Corp. of Vancouver, British Columbia, said Tuesday that it would buy Southern Lumber Co. of Hermanville from the Dearman and Sulser families.

Southern Lumber makes pine boards, specializing in wide and long lumber, with a yearly capacity of 90 million board feet. Canfor said trees around Hermanville are "of exceptionally high quality" and could allow it to make higher value products.

Canfor said it expected to complete the purchase by early 2015. Current managers are expected to remain.

The Canadian company has bought several southern pine sawmills recently, announcing in August that it would acquire two southern Georgia mills. Canfor is also spending $80 million over three years to buy Scotch Gulf Lumber of Mobile, Alabama.

ECONOMY

Miss. personal income growth trails nation JACKSON — Personal income growth in Mississippi accelerated in the second three months of 2014, but growth still trailed the nation.

The measure expanded 1.4 percent on an annual basis, the federal Bureau of Economic Analysis said Tuesday, ranking Mississippi 40th among states from April to June. That rose from 0.3 percent in the first quarter. Personal income nationwide grew 1.5 percent in the second quarter.

TORNADO RELIEF

$2.5M to aid factories after Winston Co. storm LOUISVILLE — The U.S. Labor Department is giving Mississippi's East Central Community College $2.5 million to help Winston County recover from the April 28 tornado.

The money will go to help improve worker training and support businesses in the area's manufacturing sector. Several factories were damaged or destroyed by the storm.

East Central, based in Decatur, will create the Winston County Manufacturing Recovery Project, creating a team of industry and educational representatives that will guide training and help provide jobs. The program will help workers earn industry-recognized certifications as well as move on toward college degrees.

— from staff and MBJ wire services

HANCOCK COUNTY — NASA and ATK successfully completed a static test of the launch abort motor igniter for the Orion crew capsule’s Launch Abort System (LAS). Conducted at ATK’s facility in Promontory, Utah, this test is the next step toward qualifying the igniter for production.

The LAS will be placed on top of the Orion spacecraft, the first spacecraft capable of taking humans to multiple destinations in deep space. Orion will launch aboard NASA’s Space Launch System (SLS), and its LAS will include an escape rocket on top of the capsule that can carry the crew to safety if any anomalies occur during the launch. SLS and Orion provide an unmatched combination of mass, volume and speed that can deliver humans and cargo to deep space faster, safer and more affordably than any other existing vehicles or proposed options.

“As a former astronaut, I understand how critical the abort motor is to the safety of those flying aboard the Orion spacecraft,” said Charlie Precourt, vice president and general manager of ATK’s Space Launch division. “ATK is operating at the highest standard to ensure this motor will be ready and reliable, if needed.”

For this qualification test, technicians exposed the igniter to vibrations and

extreme temperatures to simulate pre-operating and flight conditions before firing it and at its hottest condition. Next year, the igniter will undergo a similar qualification test, but it will be fired at its coldest temperature. Previous tests include a development test that verified igniter performance analytical models prior to a static test of the launch abort motor, and Pad Abort-1, a ground launch test of the entire LAS. This igniter design enables the abort motor to activate within milliseconds, lifting the crew module to safety with an acceleration over 10gs.

“Our employees have done an outstanding job in advancing the maturity of the launch abort motor by successfully executing several qualification tests this summer, including the manifold ultimate loads test, igniter closure hydrotest and this igniter static fire test,” said Precourt. “This is real rocket science,

ECONOMY

EDUCATION

Parachute maker to expand

Delta State receives $1.6 million grant

COLUMBIA — Columbia Parachute Company is expanding and creating new jobs at its Columbia, Mississippi, plant.

The announcement came Tuesday by Gov. Phil Bryant and company officials.

Officials say the project represents a $300,000 corporate investment and will create 26 new jobs, bringing the total number employed by the company to 50.

Columbia Parachute Company currently leases space in the Pioneer Aerospace facility in Columbia.

The expansion requires the company to relocate to an 11,000-square-foot an existing facility in the Marion County BusinessPlex, formerly the Columbia Training School campus.

The Mississippi Development Authority provided $400,000 in Rural Impact Funds and provided a loan of $350,000 to the Marion County Board of Supervisors.

Officials say the money is for building renovations.

The company was established in 2012 and manufactures parachutes for the military.

TRANSPORTATION

FAA provides funds for Mississippi airports JACKSON — The Federal Aviation Administration is making more than $2 million available to rehabilitate a taxiway at the Mid-Delta Regional Airport in Greenville and to purchase an emergency rescue vehicle.

U.S. Sen. Thad Cochran, R-Miss., says in a news release that the taxiway had been closed due to existing pavement conditions. The airport will buy an Aircraft Rescue and Fire Fighting vehicle and continue a wildlife management plan.

Airport Improvement Program grants are

See NASA, Page 11

CLEVELAND — Delta State University in Cleveland, Mississippi, has been selected as one of only 24 universities across the nation for the U. S. Department of Education's new First in the World grant.

To drive innovations in higher education that increase college completion, value and affordability, the Education Department in Tuesday awarded $75 million to the 24 colleges and universities.

Delta State will receive $1.6 million. Delta State President William N. LaForge says the money will be used for student retention and to provide extra assistance to students who need academic support.

Officials say 500 schools applied for the funding. Applicants submitted proposals with plans in areas such as improving graduation rates, making it smoother to transfer between schools and increasing enrollment in science and technology programs.

— from staff and MBJ wire services

awarded to cities and counties to support infrastructure development projects that will improve operational safety and efficiency at local airport facilities.

Elsewhere, the FAA awarded $1.13 million as part of a multi-year grant to support hangar construction and apron work at the Tunica Municipal Airport and $301,725 for perimeter security and safety improvements at the Hollandale Municipal Airport.

NORTHWEST MISSISSIPPI

Williams-Sonoma adding 900 jobs in Olive Branch OLIVE BRANCH — Williams-Sonoma is adding 900 jobs in an expansion of its distribution center in Olive Branch.

Gov. Phil Bryant and Williams-Sonoma officials

made the announcement last week at the plant near Memphis.

The company now employs 650 people at its leased 2 million-square-foot distribution center. It employs between 2,000 and 3,000 seasonal workers each year during peak periods.

The Mississippi Development Authority gave a $3.5 million grant to expand and light a parking area.

MDA spokesman Jeff Rent says DeSoto County did not provide any assistance. Rent says the company has three years to hire additional employees under its agreement with the state.

Based in San Francisco, Williams-Sonoma opened its Olive Branch facility in 1999.

It sells cookware and home furnishings through the Williams-Sonoma, Pottery Barn and West Elm brands.

— from staff and MBJ wire services

October 3, 2014

Mississippi Business Journal

I

I

DeSoto 5.7

11 Tunica 15.3

MISSISSIPPI’S AUG. UNEMPLOYMENT FIGURES

Tate 9.5

July ’14 1,274,700 109,700 8.0 8.6 1,165,000

Aug ’13 1,275,700 106,300 8.6 8.3 1,169,400

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

Coahoma 12.3

Yalobusha 8.7

Aug ‘14 156,434,000 9,787,000 6.1 6.3 146,647,000

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

July ’14 157,573,000 10,307,000 6.2 6.5 147,265,000

Aug 2014 7,241 93,623 $13,022,950 67,821 3,836 1,339 $192.02

Aug ’13 155,971,000 11,462,000 7.2 7.3 144,509,000

July 2014 9,839 102,824 $15,819,638 82,826 5,668 1,573 $191.00

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

Leflore 11.8

Carroll 7.0

Montgomery 9.4

Humphreys 10.9

Holmes 15.4

Yazoo 9.9

Issaquena 10.2

Ex-circuit clerk gets 10 years for embezzlement VICKSBURG — A former Warren County circuit clerk has been sentenced for embezzlement while in office, according to Attorney General Jim Hood.

Shelly Palmertree was sentenced today after pleading guilty before Circuit Court Judge Henry Lackey.

Lackey sentenced Palmertree to 10 years in the custody of the Mississippi Department of Corrections, five to serve, five suspended per count, to run concurrently. Palmertree was ordered to pay $12,000

NASA

Continued from Page 10

and our employees are committed, intelligent people making our journey to deep space possible.”

The next major abort motor milestone will be its Critical Design Review, scheduled for summer 2015.

SLS began welding the rocket’s fuel tanks on the Vertical Assembly Center at the Michoud Assembly Center in New Orleans last week, while NASA anticipates a test fire of the RS-25 engine by the end of the year at Stennis Space Center. This year’s milestones will conclude with Orion’s first test flight, Exploration Flight Test-1 (EFT-1), scheduled for December. Since this test flight is uncrewed, and the abort motor and attitude control motors will not be needed, the only live motor on the LAS will be the

ECONOMIC DEVELOPMENT

MSET to oversee new Gulf Coast industries cluster HANCOCK COUNTY — The Mississippi Enterprise

jettison motor.

EFT-1 will take Orion farther into space than a spacecraft built for humans has traveled in more than 40 years. The test flight is the next step on our journey to deep space.

A ground static firing of ATK’s full-scale SLS booster, Qualification Motor-1 (QM-1), is planned for early 2015 at ATK’s facility in Promontory, Utah.

The SLS and Orion programs are supported by a network of hundreds of suppliers from 47 states. ATK has 29 key SLS booster suppliers across 16 states: Alabama, Arizona, California, Connecticut, Indiana, Kentucky, Massachusetts, Minnesota, New Jersey, New York, North Carolina, Ohio, Pennsylvania, Texas, Utah and Wisconsin.

— from staff and MBJ wire services

Lowndes 8.7

Oktibbeha 7.7

Winston 11.0

Leake 7.5

Neshoba 5.6

Scott 5.2

Newton 6.5

Noxubee 14.5

Kemper 10.4

Madison 5.3 Warren 8.0 Rankin 4.4

Hinds 6.5

Claiborne 13.2

Adams 8.1

Wilkinson 9.9

Franklin 8.3

Lincoln 7.0

Amite 8.5

Pike 8.1

Jasper 8.4

Smith 6.5

Simpson 6.6

Copiah 7.8

Covington Jones 6.3 5.2

Walthall 9.3

Unemployment Rates ates 4.4 - 5.6 5.7 - 8.3 8.4 - 13.2 13.3 - 15.7

for Technology (MSET) at the Stennis Space Center has been selected to administer a new project to support small business growth in four Gulf of Mexico states.

Sen. Thad Cochran (R-Miss.) wrote a letter of support for the MSET application for a Marine Industries Science and Technology (MIST) Cluster, which was named one of four new regional innovative clusters by the U.S. Small Business Administration (SBA). The MIST Cluster will be centered along the I-10 corridor, incorporating Louisiana, Mississippi, Alabama and Florida.

“The MIST Cluster proposal is intended to help small businesses access the tools they need to succeed by leveraging resources available at the Stennis Space Center and in other Gulf Coast states,” Cochran said. “I am pleased that the Small Business Administration has

Marion 8.5

Lamar 5.4

Pearl River 7.2

Hancock 6.7

Lauderdale 7.1

Clarke 8.3

Wayne 8.1

Lawrence Jeff Davis 8.4 10.2

— Mississippi Department of Employment Security

in restitution and must report to the MDOC for incarceration on October 15, 2014.

At the times the crimes were committed, Palmertree took $12,000 from the Warren County Circuit Clerk Criminal Account and put $7,000 into her own personal account and $5,000 into her Circuit Clerk Fee Account.

Monroe 11.0

Clay 15.7

Choctaw 8.7

Attala 9.7

Jefferson 14.0

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

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

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

VICKSBURG

Tishomingo 7.3

Itawamba 7.0

Chickasaw 10.6

Webster 10.3

Washington 12.1

Moving Avg.** 155,553,000 10,226,000 XXX 6.6 145,327,000

Aug 2013 10,205 103,782 $15,217,704 82,081 4,907 1,913 $185.40

Calhoun 8.1

Grenada 6.8

Sunflower 12.4

Lee 7.4

Pontotoc 7.3

Quitman 11.4

Bolivar 9.4

Moving Avg.** 1,266,100 99,800 XXX 7.9 1,166,300

Lafayette 5.7

Sharkey 8.0

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

Alcorn 6.4

Tippah 8.6 Union 6.1

Tallahatchie 8.6

Aug ‘14 1,243,600 92,200 7.9 7.4 1,151,400

Benton 9.0

Prentiss 7.9

Panola 9.6

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

Marshall 7.6

Forrest 7.4

Perry 7.7

Stone 7.3

Harrison 6.8

Greene 9.2

George 8.9

Jackson 7.4

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

chosen to throw its support behind this proposal.”

MSET,a nonprofit organization that serves as a small business technology incubator at Stennis, will receive $500,000 to $550,000 from SBA to support the MIST Cluster. The focus of the cluster will be to implement strategies for developing businesses in the marine sciences and technology industries.

According to the SBA, the MIST Cluster will “focus on the Stennis Space Center’s ecosystem of world class marine technology research, the highest concentration of oceanographers in the world, and a broad consortium of federal and state partners to provide targeted support for the creation and growth of small businesses involved in ‘blue technology.’”

— from staff and MBJ wire services

REQUEST FOR PROPOSALS PBV-09252014 - Section 8 Project-Based Vouchers

The Mississippi Regional Housing Authority, No. VI (MRHA VI) announces the availability of 20 Section 8 Project-Based Vouchers (PBVs) for the City of Tchula (Holmes County), Mississippi for existing multi-family housing only.

RFP packages may be requested by e-mailing: kpace@mrha6.org. Requests should include contact information, including a valid return e-mail address. The RFP package is in digital format (Microsoft Word Document), which is fillable.

The deadline for all completed RFPs is October 31, 2014 at 4:00 p.m. (CT). Neither facsimiles nor e-mails will be accepted. Respondents shall return one original and three hard copies by the deadline. Completed RFPs should be mailed or delivered to: Mississippi Regional Housing Authority, No. VI, 2180 Terry Rd., Jackson, MS 39204.

No RFPs will be accepted after the deadline.

MRHA VI reserves the right to cancel or re-issue this RFP; to modify the selection criteria or the number of PBV vouchers available for award; and to request amendments to qualifications after the expiration deadlines. MRHA VI also reserves the right to waive any informalities or minor irregularities if it serves its best interest to do so.

Mississippi Regional Housing Authority, VI Dr. Hickman M. Johnson, PHM Executive Director

NEWSMAKERS

12 I Mississippi Business Journal I October 3, 2014

Wade earns master’s degree

Firm welcomes Vance

John T. Wade, PE, of Gulf States Engineering has fulfilled the requirements of the Engineering Graduate School at the University of Maryland, and has been conferred a masters degree in fire protection engineering. Wade is a partner at Gulf States Engineering and is principal in charge of the Gulfport office. He has 14 years tenure with the company.

Wade has a bachelor degree in mechanical engineering from Mississippi State University and is dual registered as both a mechanical and fire protection engineer.

Mississippi Delta native Corinne Vance has joined William G. Hunt & Associates as a marketing associate. Vance is a graduate of the University of Mississippi, where she received a BA in integrated marketing communications.

During her tenure at Ole Miss, she was the social media marketing director for Amy Head Cosmetics, responsible for all content and design as well as analytics and growth data.

Vance

Khayat wins another award Robert C. Khayat has received the 2014 Law Alumnus of the Year Award from the University of Mississippi Law Alumni Chapter. Khayat is one of the law school's most illustrious graduates. This is noted visibly by the name of the law school building, the Robert C. Khayat Law Center, which was dedicated in April 2011.

Khayat joined the law faculty in 1969, after a successful venture as a lawyer in Pascagoula.

He served as a professor and as- Khayat sociate dean, teaching local government law, family law, agency and partnership, federal trial practice, torts, civil procedure, and wills and estates. He helped shape generations of legal minds, including noteworthy graduates such as John Grisham.

Khayat received a Sterling Fellowship and obtained a master of laws from Yale University and returned to Oxford in 1981.

As an Ole Miss law student, Khayat was articles editor of the Mississippi Law Journal and finished third in his class in 1966. Khayat also started the Law Alumni Chapter, a group that continues to contribute to the school and alumni base in numerous ways. Coincidentally, his receiving the award at the convention in Sandestin marked exactly 50 years from the formation of the Law Alumni Chapter.

He was an academic All-American football player and was chosen as an All-SEC catcher for the 1959 and 1960 SEC champion baseball teams. He has received the Lifetime Achievement Award from the NFL and the Distinguished American Award from the National Football Foundation.

Kahayat served as chancellor of the university from 1995 until 2009.

Most recently, Khayat won a Silver IPPY for best memoir in the nation awarded for his 2013 book "The Education of a Lifetime."

Clinic adds Clark Amy T. Clark, MD, recently joined Purvis Family Practice Clinic, a service of Hattiesburg Clinic. Clark received her medical degree from the University of Alabama Birmingham. She served a family medicine internship and residency at North Mississippi Medical Center in Tupelo.

Clark is board certified in family medicine by the American Board of Family Physicians. Her professional affiliations include Clark the American Academy of Family Physicians and the Mississippi Academy of Family Physicians.

KPMG promotes, hires staff The accounting firm KPMG, LLP, has promoted Lance Holladay to manager in audit. He received a bachelors and masters degree in accounting from Mississippi State University.

KPMG has also added seven new-hires to its staff.

Kyle Goldman has joined the firm as a senior associate in audit. He received a bachelors degree in accounting and masters of professional accountancy degree from Mississippi State University.

Latesha Jordan has joined the firm as a senior associate in advisory. She received an associates degree in applied science from Meridian Community College.

Kayla Shumaker has joined the firm as an audit associate. She received a bachelor of accounting and master of professional accountancy from Mississippi State University.

Ginny Gamble has joined the firm as an audit associate. She received bachelor and master of accountancy degrees from University of Mississippi.

Christie Allen has joined the firm as an audit associate. She received a master of accountancy degree from University of Mississippi.

Laurie Morgan has joined the firm as an audit associate. She received a bachelor of accountancy degree and masters of business degree from Mississippi State University.

Laura Dalton has joined the firm as an audit associate. She received a bachelors degree in accounting and masters of professional accountancy degree from Mississippi State University.

JSU chooses Horton Lindsey Horton, Jackson's former police chief, is joining Jackson State University's leadership team to oversee safety efforts across all of the university's locations. Horton, who has served in various other roles during his 30 years at the Jackson Police Department, will be JSU's associate vice president for safety and security. He will report to the vice president for business finance and oversee the Public Safety Department.

Horton will focus on the integration of safety and security measures at all JSU venues/sites, the coordination of emergency and risk management across the sites and the continuous upgrading of procedures, protocols and policies needed to keep the university safe.

HCEDA welcomes Spann The Hinds County Economic Development Authority recently welcomed Jennifer Spann as the new director of communications. A Jackson native and graduate of Millsaps College, Spann brings nearly 20 years of communications, marketing and public relations experience to the position. Most recently, she worked in public relations for the Mississippi Devel-

opment Authority. Spann has also served as a freelance writer for The Clarion-Ledger and Jackson Free Press and as a radio personality for Mississippi Public Broadcasting.

Hodo made partner Quest Group has added Cierra Hodo as a partner to the advertising agency. Hodo will oversee business development in the Nashville, Tennessee, market while lending her creative talents to the firm.

She is an honors graduate of the University of Southern Mississippi and holds a degree in entertainment industry management. A West Point native, Hodo graduated from the Mississippi School of the Arts. She currently resides in Nashville where she is a project manager for United Business, LLC.

Darby joins clinic staff Hattiesburg Clinic is welcoming Marie M. Darby, MD, to the department of Maternal Fetal Medicine, a new service of Hattiesburg Clinic. Darby earned her medical degree from Louisiana State University Health Sciences Center in New Orleans. She served her internship and residency in Obstetrics & Gynecology at the University of Mississippi Medical Center in Jackson where she also served a fellowship in maternal Darby fetal medicine.

Darby is board certified in obstetrics and gynecology by the American Board of Obstetrics & Gynecology.

Memorial adds Kulpa Memorial Physician Clinics welcomes Janus Kulpa, MD, in the practice of family medicine, at Memorial Physician Clinics Family Practice - Ocean Springs.

Kulpa received his medical doctorate from the Faculty of Medicine, University of Toronto, Canada. He completed his family medicine residency at the Scarborough General Hospital, Department of Family and Community Medicine, Faculty of Kulpa Medicine, University of Toronto.

Kulpa is board certified in family medicine.

Alcorn chooses Weir LLJuna Weir is the new leader of the Office of Educational Equity and Inclusion at Alcorn State University. Weir will be responsible for assessing current programs and populations regarding diversity matters and use those assessments to propose and implement new initiatives.

Weir earned both her master of science and bachelor of science degrees from Alcorn. She is married to Dante Weir and they have two children, Jonathan and Danyel.

Blakeney, Reeves promoted Community Bank has promoted Chris Blakeney to assistant vice president for the bank’s office in Raleigh. Blakeney joined Community Bank in September 2013, and has served as a teller and a loan officer. A Smith County native, he is a graduate of the University of Southern Mississippi with a bachelors of science in business administration, majoring in banking and finance. He also has a master’s degree in Blakeney sports management. Active in the community, Blakeney is a member of the Raleigh Chamber of Commerce and the Mississippi State Extension Service Agriculture Expo Team.

Community Bank has also promoted Ryan Reeves to assistant vice president in Forest.

Reeves, a Scott County native, is Reeves a 2010 graduate of Mississippi State University with a bachelors of science in business administration and has recently completed his first year at the Mississippi School of Banking at Ole Miss. He resides in Forest with his wife, Britni, and is a deacon of Forest Baptist Church.

Regions chooses Harris, Vallejos Regions Bank has Shawn Harris vice president and business banking relationship manager. A banking industry veteran with more than eight years of experience, Harris most recently served as a commercial relationship manager associate for Trustmark Bank. A native of Picayune, he attended Mississippi College, where he earned a bachelor of science in business administration degree in marketing and an MBA. Harris Among his community involvement, he serves on the board of the United Way of Southeast Mississippi and the Historic Hattiesburg Downtown Association.

Active with the Area Development Partnership, he is the membership coordinator for Pine Belt Young Professionals, as well as a member of this year’s Leadership Pinebelt Class of 2014.

Vallejos Also, Regions has appinted Isael Vallejos manager of the bank's Clinton Plaza Branch. Vallejos has been a Regions employee since 2006, and has held numerous positions including his most recent stint as a branch team leader. He is a native of Corozal Belize in Central America, where he earned his degree in business administration from Corozal Junior College. He his wife Amy and daughter reside in Clinton.

NEWSMAKERS

October 3, 2014

I

Mississippi Business Journal

I

13

Hodges, Pearson named interim deans

Long joins staff

Clinic adds Bruce

MDOT promotes Loflin

Julia Hodges and Allison Pearson are serving as co-interim deans for Mississippi State University's Meridian Campus. The two veteran MSU Starkville campus employees are filling the vacancy created by the departure of MSU-Meridian Dean Steven Brown, who recently was named dean of arts, social sciences and humanities at the University of West Florida.

For more than 30 years, Hodges has been an MSU faculty member and now serves as associate vice president for academic affairs in the Office of the Provost and Executive Vice President. In 1997, she was named head of the computer science and engineering department and remained in that role for 12 years before accepting her current position. Hodges holds a bachelor's and two master's degrees from Mississippi State and received her doctoral degree in computer science from the University of LouisianaLafayette. She is a senior member of the Association for Computing Machinery and the Institute of Electrical and Electronics Engineers. She also is a member of the IEEE Computer Society and the American Society for Engineering Education.

A 21-year faculty member at Mississippi State, Pearson currently serves as special assistant to the provost. The William L. Giles Distinguished Professor of Management holds the distinction of "Grisham Master Teacher" at the university and teaches principles of management and production. She also holds the Jim and Julia Rouse Professorship in the College of Business. Pearson received her bachelor's and master's degrees from the University of Southern Mississippi and earned her doctorate in organizational behavior at Auburn University. She has more than 70 research publications and presentations to her credit and has served in previous university leadership roles as interim co-executive director of academic outreach and continuing education, and as director of the Day One Leadership Community.

Kenneth M. Long, DO, recently joined Picayune Family Practice Clinic, a service of Hattiesburg Clinic.

Long earned his medical degree through Lake Erie College of Osteopathic Medicine in Erie, Pennsylvania, and served a family practice internship and residency at Millcreek Community Hospital in Erie.

Long’s professional affiliations include the American Osteopathic Association and the Long Pennsylvania Osteopathic Medical Association.

Karen Bruce, MD, recently joined Collins Family Practice Clinic, a service of Hattiesburg Clinic. Bruce received her medical degree from the University of Mississippi School of Medicine and served a family practice internship and residency at the University of Tennessee in Jackson, Tennessee.

She is board certified in family medicine by the American Board Bruce of Family Medicine. She is also board certified as a wound care specialist physician by the American Board of Wound Management. Her professional affiliations include the American Academy of Family Practice, the Mississippi Academy of Family Practice and the Mississippi State Medical Association.

The Mississippi Department of Transportation (MDOT) has appointed Trudi Bass Loflin to the position of director of the Right-ofWay Division. Loflin joined MDOT in 1998 as a right-of-way acquisition agent before managing the Title, Appraisal, Acquisition and Relocation Sections of the division.

Prior to joining MDOT, she attended the University of Southern Mississippi where she earned Loflin her bachelor’s degree in paralegal studies. A Bassfield native, Loflin currently resides in Brandon with her husband, Dan, and their two children, Carolyne and Cooper.

Andem, Burke earn certification Two more of the Neel-Schaffer Inc.’s engineers in Louisiana have been certified as professional traffic operations engineers, bringing to eight the number of PTOEs employed in Louisiana by the engineering and planning firm. The firm’s newest PTOEs are Santosh Andem, P.E., PTOE, in the Lafayette of- Andem fice, and Ellen Burke, P.E., PTOE, in the Baton Rouge office. Neel-Schaffer now has 16 certified PTOEs in the firm, which employs about 400 and has offices in nine states.

The other Louisiana-based PTOEs are David Othling, Prasanth Malisetty, Nick Ferlito and Brin Ferlito in Baton Burke Rouge, Vijay Kunada in Lafayette, and Charles Adams in Shreveport.

AGJ adds Hankins Chris Hankins has joined AGJ Systems & Networks’ technology service team. Hawkins has assumed the role of complete care engineer and brings IT experience, having spent the last seven years in the IT departments of the University of Mississippi Medical Center and the United States Marines Corps.

Waggoner welcomes Lawrence Waggoner Engineering has added Rae Ann Lawrence as an engineering intern in its Civil, Structural and Aviation Division. Lawrence most recently served as a research assistant for the Mississippi State University Department of Civil and Environmental Engineering. She received her undergraduate degree in civil and environmental engineering in 2013 from MSU, where she is also earning her master’s degree in civil and environmental engineering with an expected graduation date of December 2014.

Roe leading HPI Company Healthcare Providers Insurance Company, RRG, (HPIC), has appointed Alasdair Roe to president and chief executive officer of HPI Company, which is the attorneyin-fact for HPIC. Previously, Roe served as chief operating officer.

He holds a bachelor’s degree in marketing from Florida State University and has over 20 years of experience in the insurance industry.

Retiring president/CEO Larry Roe Bourne will serve as president emeritus and work closely with Alasdair through this transition at least through the end of 2014.

Smith practicing on Coast Dr. Judith W. Smith, Memorial Hospital orthopedic surgeon, is now seeing patients in Bay St. Louis.

Smith is one of the few orthopedic surgeons in the state of Mississippi with fellowship training in foot and ankle reconstruction surgery. She graduated cum laude with her undergraduate degree from Princeton University in New Jersey. She earned her medical degree from Columbia University, College of Physicians Smith and Surgeons in New York. She completed her residency in orthopedic surgery at The Hospital for Special Surgery/The New York HospitalCornell Medical Center in New York, after two years of general surgery residency at Yale-New Haven Hospital in Connecticut. She then pursued a fellowship in foot and ankle surgery at the Medical College of Wisconsin in Milwaukee, after which she joined the orthopedic faculty at The Emory Clinic in Atlanta as chief of the division of foot and ankle reconstruction.

Smith is board certified in orthopedic surgery.

Felder added to staff Elizabeth M. Felder, MD, recently joined Hattiesburg Clinic Connections as a pediatrician. Felder received her medical degree from the University of Mississippi Medical Center where she also served an internship and residency in pediatrics.

Her professional affiliations include the American Academy Felder of Pediatrics and the Mississippi Chapter of the American Academy of Pediatrics.

Butler Snow welcomes Sykes Phillip S. Sykes has joined Butler Snow’s Ridgeland office as a member of the firm’s commercial litigation practice group. Sykes has spent nearly 20 years successfully defending businesses against a wide spectrum of claims. He has represented clients locally, nationally and internationally across many different industries.

He obtained his bachelor’s degree in professional accountancy, magna cum laude, from Mississippi State University and practiced as a certified public accountant with KPMG before earning his juris doctor, magna cum laude, from the University of Mississippi School of Law. Sykes is AV-Rated by MartindaleHubbell and has been named in multiple categories in The Best Lawyers in America and Mid-South Super Lawyers since 2009. He has also been named in Chambers USA Leading Individuals for general commercial litigation since 2010.

Sykes is a member of The Mississippi Bar, the American Bar Association, the American Institute of Certified Public Accountants, the Mississippi Society of Certified Public Accountants, the Defense Research Institute and the International Association of Defense Counsel, where he serves as the vice chair of membership for the business litigation committee. He has been admitted to practice in Mississippi, the U.S. District Court for the Northern and Southern districts of Mississippi, and the U.S. Court of Appeals for the Fifth Circuit. Mississippi and the U.S. Court of Appeals for the Fifth Circuit.

Clinic welcomes Hawkins Lauren B. Hawkins, MD, recently joined Hattiesburg Clinic endocrinology. Hawkins received her medical degree from Tulane University School of Medicine in New Orleans. She served an internal medicine internship and residency, as well as an endocrinology and metabolism fellowship at Wake Forrest University School of Medicine in Winston Salem, North Carolina.

Hawkins is board certified in Hawkins internal medicine by the American Board of Internal Medicine. Her professional affiliations include the American Medical Association, American College of Physicians, American Association of Clinical Endocrinologists and The Endocrine Society.

Swan chosen for board Millie Swan, chief of marketing and medical services at Forrest General Hospital in Hattiesburg, has been selected to serve on the advisory board of Spirit of Women, a national network of leading hospitals dedicated to improving women's lives with innovative health and community programs. Swan’s term runs through June 2016.

At Forrest General, Swan oversees medical staff services, marketing and communications, the Heart and Vascular Service line, the Oncology Service line, food and nutrition, guest and pastoral services and FGH On Call. Forrest General became a Spirit of Women member in 2004 and, under Swan’s leadership, has continued to grow to more than 8,000 local Spirit of Women members. Swan is a past recipient of the Amethyst Award presented by the National Spirit of Women Organization.

She currently serves as a board member for the Mississippi Distinguished Young Woman Program and Aids Coalition Services.

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

AN MBJ FOCUS: BANKING & FINANCE

S&P continues its 5

Index’s 500 stocks makes it more diverse than the Dow

By LISA MONTI mbj@msbusiness.com

S

TANDARD & POOR’S has been a part of the financial landscape for almost 100 years, but in March of 2009, the housing crisis brought both it and its rival Dow to their knees.

The S&P Index hit a 13-year low at 676.53, but that was just the beginning of a five-year run that has recently pushed the Index over 2,000 for the first time in

its history.

The Dow Jones Industrial Average and the Standard & Poor’s 500 are familiar names not just

to investors but to anyone who pays even scant attention to the news. But as linked as the Dow and S&P 500 are their name recognition, the indexes are very different.

The older, more traditional Dow, first published in the late 1800s, follows the stocks of 30 of North America’s largest companies chosen by the Wall Street Journal, which owns the index. The S&P tracks 500 North American stocks picked by a committee of Standard & Poor’s, which began publishing publishes research on stocks and bonds in the late 1800s.

G.W. Kelly, chair and professor of finance, real estate and business law at the University of Southern Mississippi, said, the Dow dates back to a time when financial data wasn’t easy to compile.

Jan. 3,

2011 Jan. 4, Aug. 25,

2009

S&P hits 13-year low at 676.53

2010 1144.98

1271.50

“It was a glimpse of how a sample of a few of the fastest growing firms were doing in the stock market Over time it became interpreted as an indicator of investor sentiment and general economic conditions It stuck and became shorthand for what was happen ing by way of the stock market,” he said.

The larger number of companies followed by the S&P 500 makes it more diversified than the Dow, and some say a better indicator of the economy.

Will Van Kirk, head of Van Kirk Wealth Advisors a Gulfport wealth advisory firm offering services through Stratos Wealth Partners, said the S&P 500 i a truer economic indicator than the Dow Jones Industrial Average.

"The Dow is only 30 stocks. It’s the older index bu

October 3, 2014 • MISSISSIPPI BUSINESS JOURNAL • www.msbusiness.com

E

s 5-year climb

e Dow, which has made S&P more popular

of a few of the he stock market. n indicator of omic conditions. hat was happenid. ollowed by the han the Dow, e economy.

Wealth Advisors, ing services d the S&P 500 is Dow Jones In-

e older index but

the S&P 500 has become more and more popular, especially over the past 15 or 20 years,” Van Kirk said.

Another difference between the two stock indexes is how the averages are calculated. The Dow uses straightforward calculations based on stock prices; the S&P applies market weighted capitalization measurements.

Kelly believes the Dow’s price weighted index is flawed and can be misleading “if you owned a $10 stock and it went up by a dollar, that’s a 10 percent windfall,” he said. “If you owned a $500 stock and it went up by a dollar, that isn’t even a sneeze.” So larger firms affect the Dow more than they do the S&P 500. “A dollar is more than a dollar on the S&P.” But does the larger number of stocks put the S&P

at a riskier state than the Dow for investors? “There is no right or wrong answer,” Van Kirk said. “In general, the S&P could perform better or poorer in any given year. But over time it is less risky because it is more diversified. It’s 500 stocks, not 30. Its broad based diversification is probably less risky.”

Van Kirk added, “In a severe market downturn, you’re going to have a substantial number of stocks go down and a very few go up.”

Jan. 6,

2014 1842.37

Jan. 7,

2013 Jan. 2,

2012 1277.81

1472.02

Aug. 25,

2014 S&P breaks 2,000 barrier at 2003.37

16 I Mississippi Business Journal I October 3, 2014

BANKING & FINANCE

Life insurance is for the living — plan it that way I T HAS BECOME a custom to write about life insurance concepts during the month of September. The calendar has turned to October, but my annual message is still important.

My annual comments are due in great part to the publicity generated by Life Insurance Awareness Month and the great work of the non-profit organization sponsoring it, Life Happens. Simply put, LIAM is a nationwide public awareness

effort to remind the public of the essential role life insurance planning plays in the overall financial arena of our nation's economy. Life Insurance Awareness Month is also a means of inIke Trotter forming consumers of the facts and issues involved in purchas-

ing this critically important form of financial protection.

What I hear most often with life insurance concerns questions such as; how much do I need, what are recommended ways to establish beneficiary designations and what type of protection best suites my personal situation.

And, I will tell you, since no two people have the same exact financial makeup, conversely — no standard answer fits

every personal or business situation that exists. Because of the fact that more questions tend to be raised, I thought it might be interesting for this month's comment to bring up a few we hear on a consistently regular basis. Maybe a few answers could help with your own personal planning:

How Much Life Insurance Do I Need?

Determining how much life insurance you might need requires a careful checkup of your current and future financial obligations as well as a good understanding of the monetary resources available for surviving family members to draw upon to meet remaining obligations. Coming up with the difference between the two (that being; obligations owed minus the assets your family has) is the approximate amount of additional life insurance you need. If this sounds confusing, don’t worry. You're not alone. That’s why the LIFE Foundation offers through its website (lifehappens.org) a Life Insurance Needs Calculator you can use to estimate what may be required.

How Should I Name my Beneficiaries?

There are three recommendations that LIFE suggests: No. 1 — Always name a “contingent” or secondary beneficiary just in case you outlive your first beneficiary.

No. 2 — Select a specific beneficiary, rather than having the proceeds paid to your estate. One of the greatest advantages of life insurance is that it can be paid to your family immediately. If, however, it is payable to your estate, it will have to go through probate with the rest of your assets. No. 3 — Be very specific in wording beneficiary designations. Saying “wife of the insured” could result in an ex-spouse getting the proceeds. Naming children specifically may exclude those born later. A better options is: children of the insured.

y

What optional provisions to life insurance merit consideration?

Ultimately, it depends on what your budget allows but there are a couple riders you should at least consider. No. 1: A disability waiver of premium rider stipulates that if you become totally disabled for a specified period of time, you don’t have to pay premiums for the duration of the disability thus keeping your life insurance coverage in force. No. 2: Accidental Death coverage is another common rider that can pay an additional benefit in case of death by accident. No. 3: Accelerated death proceeds are relatively new and allow, under certain circumstances, for you to receive the proceeds of your coverage before you die. This could include the need for financial assistance with long term care or conSee

TROTTER, Page 27

“Doubling the number of chimps we care for was a real TURNING POINT for us. Partnering with Regions was another.”

Cathy Willis Spraetz

Chimp Haven

Get the whole story at regions.com/chimphaven

Chimp Haven is home to 163 chimpanzees, many of which are free to roam specially constructed habitats. Rapid expansion has been a huge turning point for the facility, one that has come with unique challenges. President and CEO Cathy Willis Spraetz counts on her Regions Banker Rufus Lemaire for quick responses, less red tape and flexibility as they roll with the changes. From Regions Quick Deposit® to handle donations, to working capital until the facility receives grant reimbursements, Regions is a partner that understands the needs of this unique business and allows Chimp Haven to continue moving forward.

To see how we can help your business move forward when it’s at a turning point, turn to Regions.

Loans | Treasury Management | Can-Do Attitude © 2014 Regions Bank. All loans and lines subject to credit approval.

18 I Mississippi Business Journal I October 3, 2014 Name

MISSISSIPPI PARTICIPATING SBA LENDERS Address

Phone

BancorpSouth Bank

One Mississippi Plaza, Tupelo, MS 38802

(662) 680-2345

BankFirst Financial Services

101 N Jefferson St., Macon, MS 39341

(662) 726-5192

Bank of Anguilla

130 Holland St., Anguilla, MS 38721

(662) 873-4346

Bank of Forest

211 W. 3rd St., Forest, MS 39074

(601) 469-3663

Bank of Franklin

9 Main St., Meadville, MS 39653

(601) 384-2305

Bank of Holly Springs

970 Hwy. 7 S., Holly Springs, MS 38635

(662) 252-2511

Bank of Kilmichael

120 N. Depot Ave., Kilmichael, MS 39747

(662)-262-7844

Bank of Morton

366 S. 4th St., Morton, MS 39117

(601) 732-8944 (662) 447-5403

Bank of Okolona

227 W. Main St., Okolona, MS 38860

Bank of Walnut Grove

101 Chadwick Ave., Walnut Grove, MS 39189

Bank of Wiggins

109 W. Pine Ave., Wiggins, MS 39577

(601) 928-5233

Bank of Winona

312 N. Applegate St., Winona, MS 38967

(662) 283-3231

Bank of Yazoo City

104 N. Main St., Yazoo City, MS 39194

(662) 746-5421

BankPlus

1068 Highland Colony Pkwy., 400 Concourse, Ste. 100, Ridgeland, MS 39157

(601) 898-8300

BizCapital BIDCO II, LLC

909 Poydras St., Ste. 2230, New Orleans, LA 70112

(504) 832-1993

BNA Bank

133 E Bankhead St., New Albany, MS 38652

(662) 534-8171

Celtic Bank

12121 Panama City Beach Pkwy., Panama City Beach, FL 32407

Century Bank

4282 Main St., Lucedale, MS 39452

Charter Bank

1721 Medical Park Dr., Ste. 103, Biloxi, MS 39532

(228) 392-2330

Citizens Bank

8077 Hwy. 178 W., Byhalia, MS 38611

(662) 838-2146

Citizens Bank

814 Main St., Columbia, MS 39429

(601) 736-2601

Citizens Bank & Trust Co.

239 E. Main St., Marks, MS 38646

(662) 326-8047

(601) 253-2411

(866) 644-0042 (601) 947-7511

Source: Mississippi District OfďŹ ce of the U.S. Small Business Administration. Please direct questions and comments to Wally Northway at research@msbusiness.com.

Wise Carter is pleased to announce the addition of new lawyers to our Jackson Office.

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Jackson Gulf Coast Hattiesburg

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MISSISSIPPI PARTICIPATING SBA LENDERS

20 I Mississippi Business Journal I October 3, 2014 Name

Address

Phone

The Citizens Bank

521 Main St., Philadelphia, MS 39350

(601) 656-4692

The Citizens National Bank of Meridian

512 22nd Ave., Meridian, MS 39301

Cleveland State Bank

110 Commerce Ave., Cleveland, MS 38732

The Commercial Bank

175 Hopper Ave., DeKalb, MS 39328

(601) 743-5871

Community Bank, Coast

677 Dr. Martin Luther King Jr. Blvd., Biloxi, MS 39533

(228) 374-7755

Community Bank

202 W Jessamine St., Ellisville, MS 39437

(601) 477-9361

Community Bank of Mississippi

1255 W. Government St., Brandon, MS 39042

(601) 706-0130

Community Bank, North Mississippi

900 N. Main St., Amory, MS 38821

(662) 256-8461

Compass Bank

15 S. 20th St., Birmingham, AL 35233

(205) 297-1986

Copiah Bank, N.A.

101 Caldwell Dr., Hazlehurst, MS 39083

(601) 894-2831

Covenant Bank

206 Sharkey Ave., Clarksdale, MS 38614

(662) 621-1869

Covington County Bank

102 S Dogwood Ave., Collins, MS 39428

(601) 765-6551

DeSoto County Bank

6040 Hwy. 51 N., Horn Lake, MS 38637

(662) 393-3277

Farmers & Merchants Bank

P111 W. Clayton St., Baldwyn, MS 38824

(662) 365-1200 • 662-365-1252 F

First American National Bank

1251 First American Dr., Iuka, MS 38852

(662) 423-9551

First Bank

100 S. Broadway & 3rd St., McComb, MS 39648

(601) 684-2231

First Commercial Bank

1300 Meadowbrook Rd., Jackson, MS 39211

(601) 709-7777

First Financial Bank

510 Hwy. 35 S., Carthage, MS 39051

(601) 267-0095

First National Bank

19 S. Main St., Pontotoc, MS 38863

(662) 489-1631

First National Bank of Clarksdale First National Bank of Picayune First National Bank Oxford

402 E. Second St., Clarksdale, MS 38614 121 E. Canal St., Picayune, MS 39466 101 Courthouse Sq., Oxford, MS 38655

(662)627-3261 (601) 749-3200 (662) 234-2821

(601) 693-1331 (662) 843-9461

Source: Mississippi District Office of the U.S. Small Business Administration. Please direct questions and comments to Wally Northway at research@msbusiness.com.

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Proudly serving Attala, Forrest, Harrison, Jackson, Lamar, Lauderdale, Leake, Kemper, Neshoba, Newton, Oktibbeha, Rankin, Scott and Winston counties.

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200 North Congress St, Ste 400, Jackson 39201 Email: marcia.kelly@msbusiness.com or print off form at http://msbusiness.com/wp-files/forms/article-request-form-web.pdf

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MISSISSIPPI PARTICIPATING SBA LENDERS

22 I Mississippi Business Journal I October 3, 2014 Name

Address

First Security Bank First South Farm Credit First Southern Bank First State Bank First State Bank Grand Bank for Savings, FSB Great Southern National Bank Guaranty Bank & Trust Hancock Bank Holmes County Bank & Trust HOPE Federal Credit Union The Jefferson Bank Magnolia State Bank Mechanics Bank Merchants & Marine Bank Merchants & Marine Bank Merchants & Planters Metrpolitan Bank Newton County Bank OmniBank Oxford University Bank Peoples Bank Peoples Bank Pike National Bank Planters Bank & Trust PriorityOne Bank Regions Bank Renasant Bank Richton Bank & Trust Company Riverhills Bank Singing River Federal Credit Union Southern AgCredit, FLCA State Bank and Trust Compasny Superior Financial Group Sycamore Bank The First, A National Banking Association The Peoples Bank The Peoples Bank Trustmark National Bank United Mississippi Bank Wells Fargo Bank, N.A. Whitney Bank

295 Hwy. 6 W., Batesville, MS 38606 574 Highland Colony Pkwy., Ridgeland, MS 39157 1075 Hwy. 98, Columbia, MS 39429 146 W. College Ave., Holly Springs, MS 38635 708 Azalea Dr., Waynesboro, MS 39367 204 Westsover Dr., Hattiesburg, MS 39402 218 22nd Ave. S., Meridian, MS 39302 210 Hayden St., Belzoni, MS 39038 2510 14th St., Gulfport, MS 39502 316 Court Sq., Lexington, MS 39095 4 Old River Place, Ste. A, Jackson, MS 39202 1445 Main St., Fayette, MS 39069 15 E. 6th Ave., Bay Springs, MS 39422 319 N. Main St., Water Valley, MS 38965 2802 Bienville Blvd., Ocean Springs, MS 39564 3118 Pascagoula St., Pascagoula, MS 39568 308 Raymond Sq., Raymond, MS 39154 1069 Highland Colony Pkwy., Ridgeland, MS 39157 114 E. Church St., Newton, MS 39345 236 E. Capitol St., Jackson, MS 39225 2301 W. Jackson Ave., Oxford, MS 38655 611 5th Ave., Magee, MS 39111 160 E. Maud Ave., Mendenhall, MS 39114 350 Rawls Dr., McComb, MS 39648 212 Catchings Ave., Indianola, MS 38751 220 Main Ave. N., Magee, MS 39111 250 Riverchase Pkwy., Birmingham, AL 35244 209 Troy St., Tupelo, MS 38804 114 S. Front St., Richton, MS 39476 702 Market St., Port Gibson, MS 39150 6006 Hwy. 63, Moss Point, MS 39563 22 Milbranch Rd., Ste. 200, Hattiesburg, MS 39402 916 Hwy. 82, Greenwood, MS 38935 165 Lennon Ln., Ste. 101, Walnut Creek, CA 94598 301 E. Main St., Senatobia, MS 38668 1945 U.S. Hwy. 15 N., Laurel, MS 39440 152 Lameuse St., Biloxi, MS 39530 305 E Jefferson St., Ripley, MS 38663 201 Country Place Dr., Ste. A, Pearl, MS 39208 75 Melrose-Montebello Pkwy., Natchez, MS 39121 101 N. Philips Ave., Sioux Falls, SD 400 Labarre Rd., Jefferson, LA 70121

Phone (662) 563-9311 (601) 977-8381 (601) 736-6378 (662) 252-4211 (601) 735-3124 (601) 264-1467 (601) 693-5141 (662) 247-1454 (228) 868-4000 (662) 834-2311 (601) 944-1100 (601) 786-3191 (228) 764-2265 (662) 473-2261 (228) 872-2800 (228) 762-4034 (601) 857-8044 (601) 853-0000 (601) 683-3101 (601) 355-1000 (662) 234-0622 (601) 849-2210 (601) 847-2210 (601) 684-7575 (662) 887-3363 (601) 849-3311 (205) 560-5081 (662) 680-1001 (601) 788-6301 (601) 437-4271 (228) 457-9531 (601) 579-7800 (662) 453-6811 (925) 482-2900 (662) 562-8201 (601) 425-4000 (228) 435-5511 (662) 837-8191 (601) 208-7391 (601) 445-7000 (605) 575-6900 (504) 729-1169

Source: Mississippi District Office of the U.S. Small Business Administration. Please direct questions and comments to Wally Northway at research@msbusiness.com.

TROTTER

Continued from Page 16

finement to a nursing home.

The Mayo Clinic lists the "Three Big End of Life Questions as; 1 - What was the meaning of my life 2 - Did I make a difference in the world?

3 - What is my legacy to the world?

There’s no question that life insurance provides for life’s uncertainties.

But more relevant to the product concerns point No. 3: Life Insurance offers a legacy to the world by financially protecting one’s family and heirs. It is a gift of unselfish love in the truest sense of the word. As Life Happens puts it, Life insurance is not for the people who die, but rather for the people who live . . . .

This Month’s Parting Shot: Here’s some interesting

business data: the average lifespan of a U.S. company listed in the S&P Index in the 1920’s was 67 years. By 2012: 15 years.

Ike Trotter is a financial adviser in Greenville. Contact him at the Ike Trotter Agency, 831 S. Main, Greenville MS 38701, 662-378-9550, iketrotter@woodburyfinancial.net.

October 3 2014

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

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

August August Year to date YTD CITY 2014 2013 2014 2013 ABBEVILLE $4,906.37 $2,072.25 $9,681.42 $5,535.73 ABERDEEN 67,506.58 64,826.39 131,543.40 135,111.44 ACKERMAN 23,468.47 22,628.90 46,307.41 46,965.26 ALCORN STATE U 247.66 346.88 589.92 628.81 ALGOMA 2,146.22 2,224.77 4,682.19 4,552.92 ALLIGATOR 498.44 605.50 1,151.55 1,551.91 AMORY 150,115.43 148,211.80 307,775.46 302,543.69 ANGUILLA 2,746.73 2,509.35 5,878.96 5,292.74 ARCOLA 1,635.45 1,458.22 3,090.80 3,080.28 ARTESIA 951.46 1,037.51 2,212.96 1,872.54 ASHLAND 11,426.98 13,056.99 24,860.43 25,403.18 BALDWYN 38,424.39 48,828.83 82,720.62 93,584.41 BASSFIELD 10,548.56 11,707.50 22,448.71 26,510.83 BATESVILLE 333,790.76 332,837.41 676,792.95 670,230.59 BAY SPRINGS 54,781.53 50,316.21 107,557.28 102,030.34 BAY ST LOUIS 123,990.22 116,112.65 246,319.87 230,853.10 BEAUMONT 5,646.80 5,205.90 11,551.35 11,929.26 BEAUREGARD 230.69 246.29 449.39 496.84 BELMONT 19,051.68 24,968.27 45,886.32 49,851.78 BELZONI 27,077.68 41,999.62 63,870.62 87,569.68 BENOIT 7,572.38 6,152.73 14,261.86 13,437.02 BENTONIA 18,653.50 33,872.39 40,580.81 68,214.50 BEULAH 386.34 391.74 807.67 757.74 BIG CREEK 314.28 320.67 638.42 661.57 BILOXI 1,016,265.57 1,048,042.61 2,029,831.92 2,070,903.89 BLUE MOUNTAIN 9,804.18 8,650.38 20,360.31 18,966.47 BLUE SPRINGS 2,686.68 2,726.76 5,622.45 5,598.85 BOLTON 8,262.23 11,605.45 16,809.70 25,735.06 BOONEVILLE 148,881.98 142,615.40 298,036.80 289,998.50 BOYLE 16,931.58 17,166.67 30,914.82 37,859.07 BRANDON 378,357.99 451,077.48 742,826.08 884,401.29 BRAXTON 1,268.40 1,488.53 2,602.16 2,764.98 BROOKHAVEN 467,826.51 447,536.73 909,411.60 889,745.44 BROOKSVILLE 10,104.09 7,323.98 21,564.32 17,486.43 BRUCE 40,465.98 40,218.41 81,365.11 81,304.31 BUDE 7,525.59 12,202.85 15,641.80 24,738.17 BURNSVILLE 9,923.58 11,147.00 25,065.61 22,144.21 BYHALIA 64,361.53 62,113.37 132,153.36 127,250.98 BYRAM 128,193.89 177,110.84 273,359.91 330,580.06 CALEDONIA 11,706.29 11,445.34 25,440.84 24,720.28 CALHOUN CITY 26,101.89 24,062.24 50,132.27 49,044.31 CANTON 247,485.07 210,500.84 448,674.42 418,081.19 CARROLLTON 6,102.77 5,437.32 12,409.77 11,243.14 CARTHAGE 121,481.20 129,799.13 249,260.32 266,984.00 CARY 1,261.04 693.51 2,423.92 1,680.76 CENTREVILLE 15,187.40 17,224.69 35,077.79 37,522.47 CHARLESTON 30,661.15 30,364.98 57,406.18 59,171.47 CHUNKY 629.82 902.22 1,387.32 1,957.98 CLARKSDALE 230,447.40 231,382.37 439,209.99 445,600.83 CLEVELAND 253,139.93 280,666.63 444,806.74 560,160.57 CLINTON 252,610.15 364,690.45 636,391.43 741,791.06 COAHOMA 584.15 506.12 1,142.18 1,092.92 COAHOMA COLLEGE 9.96 19.06 36.03 54.21 COFFEEVILLE 9,569.77 8,949.27 19,645.27 18,920.48 COLDWATER 13,369.06 16,984.40 31,862.49 35,034.54 COLLINS 143,617.48 115,746.07 246,554.39 238,788.60 COLUMBIA 278,899.15 281,399.13 559,932.63 556,881.23 COLUMBUS 689,198.95 685,376.78 1,411,711.34 1,395,942.41 COMO 11,827.77 14,083.35 25,309.55 28,258.23 CORINTH 407,307.32 450,176.25 930,700.84 934,866.31 COURTLAND 1,772.41 1,165.71 2,911.77 2,329.26 CRAWFORD 1,137.03 1,799.39 2,495.36 3,126.40 CRENSHAW 4,404.66 4,016.60 9,926.65 8,959.92 CROSBY 5,964.20 4,120.70 11,214.94 6,596.53 CROWDER 2,046.20 1,566.61 3,578.90 3,199.64 CRUGER 408.72 707.83 935.50 1,236.27 CRYSTAL SPRINGS 55,815.64 69,404.04 113,851.36 130,368.91 D LO 2,852.49 3,014.65 9,429.41 6,603.13 D'IBERVILLE 485,420.54 496,317.41 1,007,717.42 1,014,287.53 DECATUR 11,140.22 11,097.49 25,842.92 23,646.76 DEKALB 19,937.97 20,917.89 40,364.59 39,334.32 DERMA 5,118.22 6,439.07 10,441.08 11,665.91 DIAMONDHEAD 43,588.02 38,433.08 87,018.24 77,152.03 DODDSVILLE 1,077.01 362.42 1,625.68 906.69 DREW 11,164.15 10,584.91 23,361.29 19,702.10 DUCK HILL 3,666.27 3,274.99 7,962.10 7,914.73 DUMAS 1,624.24 1,022.24 2,593.33 2,250.48 DUNCAN 626.22 1,333.56 981.35 2,729.28 DURANT 11,071.11 24,326.40 33,334.47 48,043.31 EAST MS COLLEGE 22.96 32.38 137.14 103.42 ECRU 22,841.35 11,856.79 35,203.46 24,998.11 EDEN 101.08 66.79 196.38 134.13 EDWARDS 6,058.70 14,267.10 12,672.99 20,916.81 ELLISVILLE 100,723.47 82,460.57 191,789.41 166,536.65 ENTERPRISE 4,809.92 4,804.29 9,783.36 10,108.90 ETHEL 1,990.86 1,056.35 2,991.02 2,222.96 EUPORA 35,360.38 36,224.73 72,377.22 72,345.57 FALCON 121.26 118.03 247.71 218.49 FARMINGTON 1,523.40 4,008.62 5,565.28 8,811.92 FAULKNER 4,879.21 3,568.21 9,809.26 8,777.98 FAYETTE 17,066.46 17,944.11 35,074.49 34,548.61 FLORA 26,204.36 22,798.12 50,800.32 49,571.23 FLORENCE 74,807.86 65,740.21 139,382.05 142,874.63 FLOWOOD 818,929.70 828,389.40 1,691,418.23 1,732,471.78 FOREST 177,201.91 169,496.09 357,256.07 357,303.04 FRENCH CAMP 961.87 844.93 1,783.25 2,141.23 FRIARS POINT 1,980.42 2,243.98 4,253.35 4,388.39

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

119,137.19 542.38 135,182.13 3,579.48 2,117.68 482.94 9,176.41 4,464.73 3,587.11 487,764.07 315,487.25 331,932.01 1,508,472.10 860.32 14,865.80 433.96 1,739,357.68 106,894.23 25,184.93 231,966.24 4,590.18 5,365.90 942.39 15,521.15 106,477.81 335,755.63 8,346.92 83,443.07 145,146.29 4,285.84 2,789.97 14,123.76 66,050.21 2,358,893.42 2,871.83 588.96 4,978.84 150,251.10 3,408.17 6,368.67 1,845.07 800,017.01 24,980.37 474.96 38,946.99 2,170.69 37,365.59 23,003.18 97,704.28 2,208.55 1,791.72 170,205.06 184,132.42 3,095.04 14,378.30 1,294.95 6,188.67 54,809.16 515,623.78 173,988.60 31,876.22 15,150.17 2,212.25 4,728.71 13,991.53 13,171.32 3,882.47 1,075.32 256,452.41 1,208.20 6,109.17 10,031.27 46,894.14 1,166,495.04 5,470.43 1,715.39 15,781.67 35,343.50 593.32 6,424.48 623.48 22,520.30 120,171.04 3,568.97 93.18 23,068.53 1,183.82 9,135.09 4,582.10 438,780.12 26,787.56 243,870.97 10,583.53 4,492.51 75,590.77 3,257.62 8,512.12 7,481.68 358,204.33 24,879.51 700,902.99 5,172.55 537,626.38 683.66 2,845.99 78.23

117,288.44 105.45 196,343.61 3,425.58 1,762.28 396.74 11,688.82 3,692.37 3,154.65 486,127.34 349,724.42 339,765.85 1,683,877.38 1,096.12 15,246.55 452.13 1,735,260.09 99,245.65 32,006.05 252,451.52 3,332.16 5,091.13 1,191.22 14,882.25 99,691.87 347,068.66 7,770.16 78,650.17 177,194.84 4,841.78 1,344.52 10,753.53 67,930.43 2,753,726.70 3,907.44 579.59 6,150.63 164,326.03 3,395.40 6,519.33 4,368.18 789,462.97 25,513.85 504.70 49,401.05 1,872.96 41,179.90 19,246.63 121,658.51 2,379.74 911.22 154,356.88 159,604.38 3,240.04 14,646.35 4,529.54 5,819.78 47,397.40 507,524.47 164,422.88 34,295.52 16,947.36 1,948.49 4,844.18 17,273.26 20,278.26 16,638.30 612.37 447,387.49 8,679.83 5,516.49 9,530.87 53,771.23 1,215,375.84 7,080.03 1,127.38 18,093.65 35,870.54 588.15 7,129.15 378.02 41,257.54 147,733.21 4,219.90 79.55 15,123.62 154.29 7,236.51 4,684.94 439,385.73 29,855.35 232,098.44 14,992.02 7,602.16 85,214.09 3,604.63 9,179.89 6,289.97 384,046.68 24,518.38 664,403.13 5,126.86 542,144.12 542.61 1,913.07 197.21

242,348.17 662.74 317,603.48 7,555.84 4,063.92 1,009.21 22,239.22 9,763.44 6,656.83 1,015,343.25 662,381.47 644,766.25 3,214,720.44 1,553.86 30,856.99 902.35 3,679,220.05 215,590.00 49,216.79 471,325.97 9,203.32 10,749.37 2,133.46 29,103.03 204,802.69 685,162.44 17,173.66 165,345.66 295,969.32 10,272.32 5,380.32 21,798.80 134,337.52 4,891,553.56 6,895.84 1,288.70 11,054.36 313,462.75 7,114.19 13,022.41 3,660.59 1,587,843.93 52,408.04 974.11 81,625.33 4,001.02 73,986.12 42,295.47 219,459.37 4,669.75 3,183.90 320,484.43 363,005.40 6,295.48 28,508.99 3,223.58 11,200.96 103,435.52 1,020,359.16 344,046.57 67,735.78 34,111.25 4,872.55 9,655.80 37,207.65 32,225.39 20,006.36 1,844.34 725,705.83 2,484.01 13,095.34 21,344.38 96,462.81 2,434,489.89 12,648.87 2,809.95 46,182.40 73,997.88 1,071.02 11,967.04 1,211.05 66,723.38 269,500.38 8,443.50 236.70 61,878.21 1,377.27 17,787.34 9,403.63 914,480.01 53,537.15 484,901.14 26,376.50 9,648.85 159,941.01 7,353.00 17,106.09 13,423.20 741,051.47 53,053.71 1,405,109.52 10,211.68 1,116,825.82 1,398.44 4,506.35 166.10

233,924.51 233.47 397,262.25 7,185.10 3,543.11 858.28 24,007.73 8,265.38 6,673.12 1,010,192.36 705,754.77 692,845.12 3,402,973.10 1,743.90 31,493.33 915.29 3,534,990.72 204,510.30 67,600.53 491,860.28 7,600.77 10,986.50 2,023.72 29,600.39 215,057.97 684,890.60 15,741.54 161,475.22 337,280.55 9,544.26 3,013.45 22,509.99 141,628.07 5,394,925.73 7,902.58 1,267.07 11,999.12 331,865.89 7,238.61 14,340.27 8,766.72 1,570,588.78 55,096.73 945.30 99,794.70 3,737.60 80,681.64 38,691.06 236,741.79 4,795.40 2,075.70 308,030.11 325,222.23 6,615.73 30,349.20 9,869.57 11,506.66 96,080.54 1,054,606.99 331,105.70 72,343.47 34,616.74 4,894.59 9,714.56 37,132.63 40,432.84 31,394.00 1,386.97 921,406.02 9,988.89 12,140.17 20,501.10 110,309.52 2,502,399.66 13,922.90 2,284.19 34,897.45 76,107.32 1,150.89 15,513.26 1,019.02 82,140.57 295,295.23 8,081.62 172.05 27,065.46 456.58 15,341.68 9,533.93 904,193.08 57,632.82 477,629.77 30,993.31 15,820.84 170,688.79 6,981.28 18,028.16 11,786.65 745,895.08 50,001.30 1,349,279.83 11,007.71 1,108,324.72 1,124.99 3,900.65 383.14

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PASCAGOULA PASS CHRISTIAN PAULDING PEARL PELAHATCHIE PETAL PHILADELPHIA PICAYUNE PICKENS PITTSBORO PLANTERSVILLE POLKVILLE PONTOTOC POPE POPLARVILLE PORT GIBSON POTTS CAMP PRENTISS PUCKETT PURVIS QUITMAN RALEIGH RAYMOND RENOVA RICHLAND RICHTON RIDGELAND RIENZI RIPLEY ROLLING FORK ROSEDALE ROXIE RULEVILLE SALLIS SALTILLO SANDERSVILLE SARDIS SATARTIA SCHLATER SCOOBA SEBASTAPOL SEMINARY SENATOBIA SHANNON SHAW SHELBY SHERMAN SHUBUTA SHUQUALAK SIDON SILVER CITY SILVER CREEK SLATE SPRINGS SLEDGE SMITHVILLE SNOWLAKESHORES SOSO SOUTHAVEN SOUTHWEST COMM STARKVILLE STATE LINE STONEWALL STURGIS SUMMIT SUMNER SUMRALL SUNFLOWER SYLVARENA TAYLOR TAYLORSVILLE TCHULA TERRY THAXTON TISHOMINGO TOCCOPOLA TOWN OF WALLS TREMONT TUNICA TUPELO TUTWILER TYLERTOWN UNION UNIV OF MISS UTICA VAIDEN VARDAMAN VERONA VICKSBURG WALNUT WALNUT GROVE WALTHALL WATER VALLEY WAVELAND WAYNESBORO WEBB WEIR WESSON WEST WEST POINT WIGGINS WINONA WINSTONVILLE WOODLAND WOODVILLE YAZOO CITY

454,994.68 101,961.98 156.17 752,809.58 35,751.94 190,408.81 366,893.35 376,968.24 7,180.36 993.10 5,938.36 283.00 154,151.56 1,785.90 58,461.02 4,091.84 8,064.82 33,605.68 7,734.92 57,249.19 47,151.55 13,195.20 54,262.00 2,036.79 430,693.80 24,499.22 989,540.73 4,227.71 97,938.23 30,709.04 9,441.43 1,408.35 19,880.60 1,885.17 49,354.00 76,044.44 25,306.52 242.25 1,153.45 6,064.54 16,247.25 11,893.20 170,192.34 12,727.69 7,019.14 10,115.91 12,607.87 3,439.71 2,333.23 905.40 615.00 2,997.56 215.52 1,651.42 6,042.52 438.21 13,714.08 988,795.38 108.42 461,861.69 11,726.60 6,905.81 3,129.42 36,782.38 4,053.29 36,100.71 2,198.75 363.77 1,447.67 24,001.29 4,933.09 23,508.11 3,461.05 10,689.44 364.87 9,871.65 1,338.00 20,263.02 1,334,164.68 4,797.80 54,779.49 31,180.99 6,527.19 12,626.32 9,702.36 9,450.69 16,974.37 603,259.10 16,475.84 5,350.53 1,539.72 41,833.75 195,025.88 179,682.44 7,935.33 1,698.09 12,370.74 1,429.70 135,629.44 144,440.57 79,549.79 345.07 5,683.86 27,913.44 138,363.40

448,461.44 95,167.78 148.37 750,399.52 34,331.37 181,162.57 357,098.00 421,716.52 8,057.95 707.26 3,584.61 634.70 186,985.87 2,440.23 52,785.51 19,958.67 7,137.07 33,348.33 9,346.23 59,383.79 43,065.72 18,067.65 14,967.23 3,239.61 406,703.43 24,160.93 1,015,330.40 3,640.41 96,549.60 36,594.88 8,860.81 1,399.61 19,753.43 2,061.27 57,614.71 98,659.53 24,421.24 328.19 1,053.23 5,778.45 15,563.96 11,395.34 162,983.37 11,408.61 5,197.22 8,693.74 12,694.59 3,678.57 1,905.17 1,058.26 364.82 3,080.76 233.77 1,568.04 4,401.78 384.43 11,693.04 996,556.19 51.80 441,240.29 10,190.91 6,535.84 2,504.17 37,777.94 5,087.06 37,688.65 2,055.16 363.16 1,677.40 26,147.13 7,959.82 21,376.45 3,319.27 9,013.78 537.85 3,959.19 2,429.67 44,901.26 1,435,565.15 4,188.77 52,648.50 28,307.92 8,287.52 12,188.60 9,228.08 9,863.50 18,513.39 639,808.98 16,284.67 6,219.79 2,006.40 39,854.55 188,182.38 167,573.22 9,264.98 2,048.38 12,187.98 1,599.23 170,336.28 152,691.03 85,166.67 336.89 7,090.72 26,388.71 136,257.27

932,236.72 205,155.86 317.38 1,520,188.60 72,353.95 389,606.10 699,594.48 737,424.28 14,897.10 1,378.09 10,188.04 730.16 333,706.06 3,665.52 118,182.89 23,846.09 16,333.48 69,167.78 17,475.31 117,894.08 92,031.45 28,845.68 71,182.52 5,192.99 817,559.79 51,443.89 2,086,743.72 8,817.62 202,138.64 63,924.57 17,336.91 3,689.55 36,923.03 3,923.09 108,527.31 142,197.73 52,914.62 365.80 1,964.30 11,901.24 32,656.50 24,444.07 341,576.20 25,415.99 14,787.30 17,938.67 24,227.77 7,452.71 4,254.02 1,696.63 1,007.96 6,258.58 1,199.78 3,257.17 12,441.86 845.53 25,976.99 2,070,743.76 124.68 931,589.50 22,639.18 13,853.15 5,855.47 70,123.54 6,824.48 72,527.23 4,629.19 720.38 2,940.18 48,867.70 13,259.53 48,247.73 7,397.58 20,925.59 654.70 15,827.56 3,079.62 63,939.55 2,865,461.48 7,001.96 108,796.53 61,527.60 34,933.66 23,943.75 19,780.52 20,585.82 36,585.71 1,236,189.30 34,564.89 11,099.34 3,493.66 81,479.46 388,954.57 356,222.61 17,820.11 4,880.38 24,975.26 3,220.15 324,308.63 285,212.90 163,012.58 1,010.57 9,813.08 59,985.80 278,177.24

910,245.79 193,433.61 271.58 1,512,065.29 69,780.02 392,491.57 695,107.65 763,338.48 15,589.68 1,066.16 7,658.26 1,115.82 387,745.58 4,981.87 112,264.09 39,375.99 16,418.40 79,202.18 20,208.94 118,653.26 93,956.49 36,780.80 32,743.19 5,502.67 869,824.92 52,733.12 2,097,530.05 8,205.16 194,526.14 71,909.22 18,229.58 3,152.82 38,807.14 4,310.50 117,561.19 139,933.36 49,873.23 670.63 2,042.29 11,338.85 30,391.16 23,695.92 328,172.68 24,741.13 13,225.97 17,717.18 26,070.12 7,663.84 3,714.30 1,867.14 765.35 6,204.90 421.21 3,131.72 10,412.60 796.43 24,260.26 2,046,084.47 71.78 883,543.15 20,623.92 13,647.25 5,746.27 74,333.71 8,863.14 73,486.35 4,308.46 663.60 3,517.04 51,933.31 15,709.32 49,342.46 7,347.83 18,069.91 1,098.25 9,277.60 4,135.23 89,288.38 2,927,472.12 8,462.90 108,589.93 56,948.18 21,267.41 24,413.20 18,660.50 19,973.72 42,948.38 1,277,612.02 34,729.07 13,183.61 4,016.53 79,227.89 385,124.71 345,273.39 21,447.02 4,238.84 26,623.04 3,341.02 346,598.07 298,497.56 173,275.94 542.61 13,078.24 56,540.54 278,803.82

TOTAL

$32,230,124.33

$33,738,545.83

$66,442,123.14 $68,148,689.61

24 I Mississippi Business Journal I October 3 2014 »FROM THE PUBLISHER’S DESK

Optimism…..with a couple of caveats

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ecently, we had the opportunity to meet with Dennis Lockhart, president and chief executive officer of the Federal Reserve Bank of Atlanta, and one of the influential policy makers in terms of fiscal policy.

Dennis took office in the sprint of 2007, and had just enough time to get settled in the job before the financial crunch of 2008 and 2009, brought about by the bursting housing bubble.

“That was a challenging period, to say the least,” he said. “We were on the edge of a systemic collapse, and I cannot give enough credit to Chairman Bernanke for his vision and resoluteness in dealing with an unprecedented crisis.”

Given the extreme peril of that period, he suggested that “we came through it pretty well.”

He also has high regard for Janet Yellin, and feels “we’re in good shape under her leadership.”

We quizzed him on his prognosis for the economy in the coming months and years, beginning with his outlook on interest rates.

While there is some disagreement among other Fed officials, he thinks interest rates will rise gradually, with “no sudden jumps.” He bases his thinking on several consideration, among them the fact that the labor market, while having shown some improvement, “still has considerable room for improvement.” As others have pointed out, he said that the “marginally attached” segment of the labor market is too large to provide the economic growth. He points out the number of people who have either left the market entirely, or who can find only marginal part-time jobs when they would prefer to be working full time.

Asked whether he sees a developing equities bubble, he said “I wouldn’t call it a bubble, but with that said, some segments

WATKINS

ROSS REILY / The Mississippi Business Journal

Dennis Lockhart believes interest rates will rise gradually, with “no sudden jumps.”

of the market are very highly valued.” That could suggest an impending correction, in his view, but he doesn’t see any massive drop in the stock indexes.

What about housing?

“I’d say we’re in the middle period of the housing recovery,” he suggested. “The early period was driven by investors who bought numerous homes and turned them into rental properties. That activity has slowed.

At the same time, we’re seeing a reticence on the part of first time homebuyers to make the commitment to buy. This is probably due in part to excessive levels of student debt.”

Suggesting that he is guardedly optimistic on continue economic growth, he sees strengthening GDP growth in the coming quarters, suggesting that “I think we can manage through our fiscal challenges.”

One of the challenges we asked him about was the potential impact of rapidly

Continued from Page 4

since the JRA board booted Watkins from the project last October over a perceived lack of progress. Watkins has talked at length about obstacles the JRA erected to progress on the project and has charged that JRA attorney Zach Taylor worked with Watkins' Farish Street Group partners to bring in a new developer.

Watkins today says he is out $4.7 million. He has put a construction lien on the project's properties to recover his money.

Farish Street Group was not in breach of its lease with the JRA when the Authority terminated the lease, he claimed.

“The JRA, in fact, breached the lease agreement by their action,” he said.

Hinds County Chancery Judge has ordered an Oct. 8

increasing entitlement spending, particularly Medicare.

“Well, we’re currently running a deficit level of about 3 percent of GDP, which is an acceptable number when compared to the world’s developed economies. Medicare may not be the problem that many seem to think,” he said. “In my view, if we can generate a strong enough economy, we can manage through the ramp-up in entitlement spending.”

What will it take to strengthen the U.S. economy?

“We need the right policies,” he said.

“We need an incentive structure favorable to new business. We need to reform the tax code. And we need the right balance of regulation that will provide a hedge against another financial crisis and yet encourages reasonable levels of investment and risk.”

We asked whether the potential for a new recession in the EU would bring fi-

meditation session between Watkins and the JRA on the breach of contract issue.

The Mississippi Development Authority is out nearly $5 million but so far has not acted to secure a claim on the properties.

In his letter to HUD and in previous interviews, Watkins has emphasized neither Watkins Development nor Farish Street Group used HUD money or JRA money on the project.

Addressing other claims in HUD's monitoring letter, Watkins said no conflicts occurred in Watkins Development assessing charges to The Farish Street Group. “How the partners of FSG and Watkins decide to execute a development plan and make billing charges between or among its own members is irrelevant to any considerations of conflicts and should be beyond control by the JRA or HUD,” Watkins writes.

HUD missed its target in claiming Farish Street Group's

nancial pain to American shores.

“I don’t think so,” Alan Turner he said. If they weaken, and we do the right things here, it could actually provide us with some opportunities. We’ve attacked our financial problems directly, and that isn’t necessarily the case in parts of Europe.”

Is business, and particularly banking, over-regulated?

“I think you could make a case that some of the smaller community banks in Mississippi and elsewhere, are having to deal with compliance issues that are greater than they should be,” he said. “Overall, though, I think the new regulations are by and large doing what they’re supposed to do.”

What’s his prognosis for Mississippi?

“Generally, I think there’s an upbeat and pro-business feeling in this state,” he said. “That doesn’t mean everything is great — Mississippi has issues with unemployment, weakness in the gaming industry, and possible exposure in the defense industry. But generally, I’m optimistic for Mississippi’s future.”

Finally, we asked him what keeps him up at night.

“I’d have to say it is the threat of a geopolitical event,” he said. Something that we can’t foresee or plan for. There are numerous flash points in the world at present, and some events could be game changers from an economic perspective. You just can’t anticipate everything.”

It seems that there’s always a lurking caveat or two to keep life interesting.

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

Goree did anything irregular in listing himself as a registered agent for Zach Harmon's Blues club, an early subtenant signing in the project, Watkins wrote in the letter to HUD. Goree was instrumental in negotiating Farish Street “celebrity-endorsed” subleases and the structure of the leases are “proprietary,” he noted.

However, Watkins said he routinely shared details of the sublease arrangements with the attorney for the JRA. “Whether or not Mr. Goree was a registered agent, a manager, a real estate broker, an investor or an employee is immaterial and irrelevant” under HUD regulations, the Farish development lease and the law, Watkins said.

Where HUD missed the target, he said, is in signaling out third parties for conflicts instead of the City and JRA, the two entities it has oversight authority over as grantees and sub-grantees.

October 3 2014

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» MISSISSIPPI LEADERS by Martin Willoughby

Developing as a leader Up Close With ... Michelle Phillips

Phillips grows into role as senior executive at BHN

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have noticed that there is a certain drive that motivates great leaders to try harder, reach further, and persist in the face of challenges. Famed football coach Lou Holtz once said, “Show me someone who has done something worthwhile, and I'll show you someone who has overcome adversity.”

We all have challenges in life. The question is how we handle them. Do we press on and remain positive or do we “throw in the towel.” Author Napoleon Hill noted, “Every adversity, every failure, every heartache carries with it the seed on an equal or greater benefit.”

Michelle Phillips, vice president of operations with Bladder Health Network, LLC (BHN), is one of those leaders who is driven to persevere and overcome whatever obstacles life may throw her way.

Phillips grew up in Richland, Mississippi, and married and started a family just out of high school.

With bills to pay and young family, she decided to pursue nursing so she earned a degree from Hinds Community College.

She spent the early years of her nursing career at the University of Mississippi Medical Center and with Dr. Ken Perry.

In 2001, she received a call from Dr. Bob Harris, who she had met earlier in her ca-

Title: Vice president of operations, Bladder Health Network, LLC Favorite Book: Who Moved My Cheese? By Spencer Johnson First Job: “I worked for a veterinary clinic when I was in high school.”

Proudest Moment as a Leader: ”One of the real high points in my career is when I was chosen to become director of clinical operations at BHN.” Hobbies/Interests: ”My free time is spent with our kids in various activities; Mississippi State football”

reer, to come work at Women’s Specialty Center. Phillips noted, “Dr. Harris really helped me develop as a leader. He provided me opportunities to lead in a clinical setting and took time to help me develop my long term goals.” She also credits Dr. Harris with helping her to always take the high road as a leader and remain calm under pressure.

In 2009, Phillips had the opportunity to work full time for Bladder Health Network, LLC. BHN works with ob/gyn and urology

clinics around the country to provide cutting edge medical care for patients suffering from incontinence. Phillips shared about former BHN CEO John Spivey, “I originally was managing the clinical operations of the company, and John helped me to expand my business skills and assume broader operational responsibilities. He is a great people person and modeled for me how to be an encouraging leader.” Today, Phillips is a senior executive with the company and

“I always encourage people to never let adversity stand in your way.”

manages all day-today operations including overseeing over 30 nurses and technicians. She shared, “I am passionate about what we are doing at BHN because we are helping patients im- Martin Willoughby prove the quality of their lives.”

Phillips, formerly a single mother, is now re-married with a family of five. She noted that it has not always been easy juggling life’s responsibilities, but that she has learned from the challenges she has faced and grown personally and professionally. She said, “I always encourage people to never let adversity stand in your way. You can achieve whatever you want if you are willing to work hard enough towards your goals.” As a leader she believes in establishing clear objectives and allowing her team to have the freedom to act independently. She said, “I am definitely not a micro-manager. I try to treat people with respect and expect the best from my team.”

Too often as adults we abandon our dreams and simply go through the motions of life. I am encouraged by Phillips’ drive and passion for excellence. It is rare in life that anything worth doing is easy. Phillips reminds us that we can courageously pursue our dreams in life and not let let’s challenges defeat us.

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

Michelle Phillips Vice president of operations, Bladder Health Network, LLC

Buckle up for a wild ride in the Jackson drug scene

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» The White Lie

By Philip Shirley Published by Mindbridge Press $15.95 softback

asten your seatbelt before delving into Philip Shirley's second work of fiction, The White Lie. It's a crime thriller that quickly pulls the reader in for a wild ride. Drug lords in Jackson, Mississippi? Innocent citizens who get pulled into this web of intrigue? That and more are woven into this tight, fast-paced story.

The characters are fictitious, but anyone who knows anything about Jackson will probably try to name some real people who were the inspiration for them. Many of the places mentioned are real and that adds to the book's interest for local readers.

The action begins at the downtown bus station as Peter Brantley, an advertising executive — what else? — waits in traffic to get on the I-55 ramp. As police swarm the bus station in a drug bust, one guy makes a fast escape by jumping into the back seat of Brantley's Jeep Cherokee. Although Brantley is able to rid himself of the gun wielding assailant,

he keeps the drug dealer's bag of cash and cocaine.

To use an old cliché, then the plot thickens. Peter and Mary Beth Brantley take matters into their own hands to avenge the drug-induced death of Peter's brother. They are definitely novices when it comes to dealing with drug kingpins. A paragraph quoted from How to Become a DEA Agent in Jackson, Mississippi states that the five county metropolitan area's location along major highways and interstates makes it a popular destination for drug traffickers looking to bring drugs into the city, the interior of the U.S. and the East and West Coasts. The author has done his re-

search to make this fact, as well as others regarding drug crimes, authentic.

My only complaint is the lack of character development, which is usually the case with this type of book. It's all about the action; that's why books of this type read like movie scripts, and that's also why I don't read them often. There is, however, a segment of readers and movie goers who relish this action. Therefore, I predict success for Philip Shirley's book. I will confess I raced to finish it because I wanted to see how it would end, and that's always fun. There's a surprise twist or two, but I won't give them away!

I've known Shirley, a mild-mannered, easy-going guy, for many years, and I commend him for having the discipline to write and publish works of fiction. A native of Alabama, he now lives near Madison and is CEO of GodwinGroup advertising agency in Jackson.

— Lynn Lofton, mbj@msbusiness.com

26 I Mississippi Business Journal I October 3 2014 THE SPIN CYCLE

5 hottest Twitter innovations from big brands ig name brands are testing myriad interactions on Twitter these days to stand out. While some marketers are bulking up their tweets with buttons to drive sales, some of the most interesting uses aren’t about social media at all. Instead, brands such as Mountain Dew, Specialized bikes and Evian enlist Twitter in conjunction with traditional tactics such as on-the-street or video marketing.

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Here are five of the most interesting Twitter campaigns from brands in the past few months showcased by Adweek.

Marketers link tweets to sales

A single misspelling can cause your tweet to fall on deaf ears. Your tweet will be ignored by many of your followers – or worse. It might even cause them to unfollow you. ated a 6.5 engagement rate, which the company claims is double the level of engagement from last year.

The video product has since become available as a beta product for marketers and could help the company gain a bigger foothold in digital video, which eMarketer predicts will bring in $6 million in ad dollars this year.

Across all social media platforms, Specialized generated about 500,000 engaged users and six million impressions during the bike tournament, an increase from 350,000 last year.

Earlier this month, Twitter rolled out a shopping button that brands can employ to drive conversions straight from tweets.

Clicking on the "buy" button in tweets triggers a landing page to pop up, where shoppers can type in shipping and payment information.

Home Depot, Burberry and a handful of nonprofits and musicians are among those testing the feature.

The buy button is Twitter’s latest attempt to court more direct response advertisers that use performance-driven metrics like Taking real-time marketing to the street conversion and lead generations.

Evian recently used Twitter to distribute product samples in real life. The Direct response branding water brand’s recent #Evianbottleservice When Mountain Dew decided to bring campaign turned tweets from thirsty back its Baja Blast drink in July, (after fans users into an on-delivery service to dole sent 30,000 tweets asking for it to come out free products. back) the company decided to run a sweepFrom Aug. 19 to Aug. 21, a team consiststakes on Twitter asking fans to call a phone ing of Evian’s community managers, social number and leave a voicemail for the chance media agency Team Epiphany and public reto win a case of the drink. lations firm Edelman homed in on social A call button embedded in tweets within chatter in neighborhoods around city parks Twitter’s app automatically called a 1-800 to respond to tweets. number featuring professional skater Paul Then, consumers in these areas who Rodriguez. A total of 3,500 calls were tweeted the hashtag #Evianbottleservice placed, and 78 percent of the voicemails left were met at their location with a bottle of lasted longer than 30 seconds. water delivered by a brand ambassador The tweet (which also included a paid within five to seven minutes. media push) received 600 retweets and The stunt generated 147 new Twitter more than 1,300 favorites after the con- followers per day, and it is also being test ended. tested internationally.

In terms of direct response-heavy marketing, Mountain Dew may not be one of YouTube ad revenue to cross $1B in 2014 the first brands that comes to mind. But the U.S. advertising revenue for YouTube, the soda giant’s effort could signal a bigger biggest Internet video website, could reach trend, with more brands trying lead gener$1.13 billion in 2014, according to a report ations to drive brand awareness via Twitter. from research firm EMarketer.

That would be an increase of 39 percent Racking up video views from 2013. A recent research report from Since launching Twitter Amplify last year, Jefferies estimated that total revenue for video has become key in the social plat- YouTube would grow to $5.9 billion, up 50 form’s revenue strategy. percent from 2012.

Specialized Biking Components tested YouTube says people watch 6 billion out Twitter’s video ad product during the hours of its videos each month and that 80 Tour de France this year with a campaign percent of its traffic comes from outside that doubled engagement rates. The bike the U.S. brand’s tweets that included videos gener-

Looking at the overall U.S. digital video ad market, EMarketer said it expects revenue to increase 56 percent this year to nearly $6 billion. That growth may taper off over the next few years, however, slowing to 13.9 percent in 2018.

It's worth noting that traditional television advertising continues to dwarf online video's sales. According to EMarketer, TV's ad revenue will reach $68.5 billion in 2014.

followers. Just like with essays or business reports, do a double (or triple) check to make sure your tweets are spelled correctly.

3. Have a “Voice.” Perfect

Todd Smith spelling and concise tweeting are two essential elements of properly written tweets, but they don’t go far enough. In fact, if that’s all you master, your tweets will be more than a little bland.

The best writers on Twitter are those who let their personalities shine through. They treat every tweet like a conversation, and they respect those they have conversations with – essentially, all of their followers.

People are looking for value when they traverse the social sphere, so why not give it to them? If you’re funny, write funny tweets.

If you’re helpful, write helpful tweets. Write your tweets to reflect your personality, and you’ll quickly attract followers.

3 Steps to improve your writing on Twitter Golden Mic | Derek Jeter steps up to the Whether you studied English literature in plate in last home game

college or you read the back of a cereal box It was a most improbable ending to this morning, if you’re on Twitter, you’re a Derek Jeter's career at Yankee Stadium writer. Here’s how to be better. and, at the same time, utterly predictable: ninth inning, runner on second, game on 1. Edit, edit, edit. With only 140 characters to the line and the player who has been called work with, a single word goes a long way on "Captain Clutch" at the plate. As he has Twitter. So make it count. To become a bet- done so many times over the past two ter writer on Twitter, you’ve got to be a good decades, Jeter jumped on a first-pitch fasteditor. You’ll often find that, after writing a ball and with that instantly recognizable tweet, the idea you want to express is just inside-out swing slapped the ball hard on longer than 140 characters. You’re hitting the ground into right field to score the the 160 character mark, and it’s frustrating. winning run in a dramatic 6-5 New York To overcome this, be judicious with your Yankees victory over the Baltimore Oriediting. How can you say what you need to oles. Jeter’s last at bat galvanized his image say, but more concisely? Is there a shorter as one of the great sports superstars of our word or two you could substitute? era – and is on his way to Cooperstown The more practice you get with being and the Hall of Fame. For Jeter’s heroics on concise, the better you’ll be at avoiding that – and off – the field, not to mention his 140-character guardrail. And with some branding gold for one of the iconic baseextra characters to spare, you might be able ball teams in all the world, he stepped up to squeeze in an image or a hashtag next to the plate and grabbed The Golden Mic. time you tweet – both of which can increase Each week, The Spin Cycle will bestow a the exposure of your tweet.

Golden Mic Award to the person, group or company in the court of public opinion that 2. Check your spelling. A single misspelling can best exemplifies the tenets of solid PR, marcause your tweet to fall on deaf ears. Your keting and advertising – and those who tweet will be ignored by many of your fol- don’t. Stay tuned – and step-up to the mic! lowers – or worse. It might even cause them And remember … Amplify Your Brand! to unfollow you.

It only takes a few seconds to pass your Todd Smith is president and chief communieyes over your tweet before you hit cations officer of Deane, Smith & Partners, a full“Send,” and it’s worth it. It’s easy to type service branding, PR, marketing and advertising firm “teh” instead of “the” when you’re eager to with offices in Jackson. The firm — based in Nashville, reply to someone, and by reviewing Tenn. — is also affiliated with Mad Genius. Contact him quickly you’ll catch these easily fixed – at todd@deanesmithpartners.com, and follow him but off-putting – mistakes. @spinsurgeon.

Misspelled tweets indicate that you don’t have time to bother with your Twitter presence. It brands you as lazy, and alienates your

SALES MOVES

October 3, 2014

I

Mississippi Business Journal

I

27

» JEFFREY GITOMER

Definition of salespeople: they make the world go round The sales world is the real world.

It is the heart of the world’s commerce.

It is the pulse of the world’s economy.

And salespeople drive it.

Many people (including salespeople) have no idea, or never give a thought to the depth of sales and selling.

Think about what sales is comprised of: It’s about communication.

It’s about engagement.

It’s about needs.

It’s about negotiation.

It’s about orders.

It’s about money.

It’s about competition.

It’s about customers’ expectations.

It’s about delivery.

It’s about keeping promises.

It’s about truth.

It’s about relationships.

It’s about reputation.

It’s about goals.

It’s about success and failure.

It’s about being your best.

It’s about survival of the fittest, and the best.

It’s about hope.

It’s about compensation.

There is no second place in sales — you either win or lose.

Sometimes, win or die.

As a salesperson, you have to have the ability to take rejection, often multiple rejections, and still have the strength, the will, the attitude, the creativity and the determination to try again.

As a salesperson, you have three masters: your boss, your customers, and your mother. Often there are conflicts. Your boss tells you to do what your mother told you never to do. “Don’t talk to strangers” is the one that pops into my mind.

And as a salesperson, you have to understand the complexity of sales and selling, or you will never achieve. It’s not about making a sale. It’s about understanding, defining and mastering the components of a sale, so that making a sale is possible.

Sales has its own language. Its own lexicon.

Words are defined differently in sales.

Here are a few real-world sales definitions to

help you understand: Customers. People who provide revenue.

Present customers. All your revenue. All your profit.

Satisfied customers.

People who will shop any place. All satisfied cusJeffrey Gitomer tomers are vulnerable to the competition.

Satisfaction. The lowest level of acceptable service.

Loyal customers. People who buy from you more than once and are willing to refer someone else AND give a testimonial.

Lowest price. Lowest profit.

Angry customer. An opportunity to recover and serve in a memorable way. Also an indication that you did something wrong.

Rude customer. Someone you should find out “why” from, before you categorize them. They’re being rude for a reason.

Price. The most feared word in sales. Often confused by weak salespeople for “value.”

Discount. Money you take off the top line, that comes right off your bottom line.

Not interested. The prospective customer’s response when a salesperson is not interesting.

Engagement. A salesperson’s ability to gain interest on a genuine level. A salesperson’s ability to ask thought-provoking, intelligent questions. Questions your competition never asks.

Objection. A stall, or an indication of buyer interest. Either way, the customer is saying, “Clarify.”

Cold call. A rude interruption to a prospective customer by a salesperson who is too lazy to network, or earn a referral. The worst way to make a sale. See also: Waste of time.

Made the sale. VICTORY! COMMISSION! Service. Something to be of 24/7.

Belief. The inner feeling that allows a salesperson to win sales.

Attitude. The inner thought process that creates positive anticipation and positive outcomes.

Opportunity. Every interaction with a customer or a prospect is an opportunity to build a relationship and earn a sale.

Referral. If approached properly, the easiest sale to make.

Unsolicited referral. The ultimate sales report card.

Testimonial. The most powerful selling weapon in a salesperson’s arsenal.

Brochure. A bunch of self-serving messages that marketing people, and advertising agencies, put together at great expense and customers throw away without reading.

Training. If presented in a real-world, compelling manner, an opportunity to learn. If it’s boring, an opportunity to answer e-mail on your blackberry, or an opportunity to sleep.

Boss. A leader, a teacher, a coach, an encourager. Not a manager.

Real boss. The customer.

Winning. Something great salespeople think they will do every time they enter a room with a prospect.

Whining. Something wimpy salespeople do when they lose a sale, or something doesn’t go their way.

REAL WORLD: Selling is the oldest profession.

Eve sold Adam the apple.

REAL WORLD: Each salesperson lives by his or her own set of rules and standards.

REAL WORLD: Companies can dictate and demand all they want. But in the end, the best sales-

people march to their own music. They make their own rules. They, in fact, define themselves.

REAL WORLD: Salespeople get into selling because they can determine their own fate and earn an unlimited amount of success.

What are your definitions of success?

What are your expectations of a career?

What are your goals and dreams?

What are you hoping to achieve?

Whatever they are, whatever it is, sales can get you there.

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

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