MBJ OCT 11, 2013

Page 1

INSIDE — Biloxi finally approves new baseball stadium

www.msbusiness.com

October 11, 2013 • Vol. 35, No. 41 • $1 • 24 pages

JACKSON’S HIGHWAY 80 CORRIDOR

Cities jockeying for fast fiber » Among the contenders for C Spire’s new internet format are Ridgeland, Corinth and Tupelo. But a decision has not been made.

Saks or no Saks?

More news, P 5

In the wake of the aqcuisition of Saks by Hudson Bay, there are many concerns that the hundreds of jobs at the Jackson Service Center could be in jeopardy.

Across the state {P 4} » Upbeat message given at Southern Auto Conference Strictly Biz {P 11} » Maple Land expands The List {P 18} » Women’s Medical Care Centers Tacy Rayburn / MBJ

Apparel retailer’s takeover by Hudson Bay causes jitters over Saks’ Jackson ops center By TED CARTER I STAFF WRITER ted.carter@msbusiness.com

Inside Biz {P 3} » Brandon’s Thrash accepts contract for state’s newest museums.

Canadian retail apparel giant Hudson Bay Co.’s $2.9 billion acquisition of Saks Fifth Avenue and its plan to trim $100 million (Canadian) in back office costs could have consequences for Saks’ longtime operations center in Jackson and its approximately 600 employees.

Some of the anxiety in Jackson comes from Hudson Bay’s relocation of its information technology operations center from Toronto to St. Louis, a move the retailer announced several months before making its bid to acquire Saks. Hudson Bay, which operates the Lord & Taylor brand in the United States and the Bay brand in See Saks, Page 3

MBJ FOCUS: HEALTH CARE

Breast cancer Targeted therapy an improvement P 12

SELLER SAYS METROCENTER IN BLACK, OFFERS BUYERS HUGE UPSIDE AT $6.5M » Mall's 40 percent occupancy pays the bills, leaving remaining space as profit generators. Overby Co. says By TED CARTER I STAFF WRITER ted.carter@msbusiness.com After foreclosing on the 35-year-old Metrocenter Mall last year, First Credit Bank of Los Angeles bankrolled a cleanup and fix up of Metrocenter's 548,000 square-foot interior and put the space on the market for $6.5 million. Jackson commercial real estate firm the Overby Company got the listing and reclamation challenge. But the job hardly made principal Scott Overby's list of things he'd like to do, especially after taking a look at the costly mistakes left behind by former owner Texas-based Jackson Metrocenter Mall, Ltd. “We walked through the mall,” Overby said. “My first response was 'no.'” Today, though, Overby says he thinks he has a marketable property on his hands See METRO, Page 2


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