Jackson Free Press

The website Remapping Debate has posted a story titled "Brother, Can you Spare $829 Billion?" On it, your can see just how much the top public corporations are hoarding ... er, holding.

So how much pump-priming could America’s largest corporations achieve if they were to dig into their cash and cash equivalents as well as their short-term investments? Remapping Debate examined the relevant quarterly Securities and Exchange Commission filings of the 100 largest corporations by revenue as ranked by the Fortune 500 in 2012 (looking only at publicly-held corporations, and excluding those in the financial sector). We looked at filing data for the period closest to June 30th in 2012, 2006, and 2000.

...each of three numbers calculated as a percentage of total assets for each of the three years: cash and cash equivalents (CCE) separately, short-term investments separately, and CCE and short-term investments combined (for 10 companies in 2000, comparable data were not available).

It turns out that more than 70 percent of the corporations listed in both 2012 and 2000 showed an increase over time in CCE and short-term investments combined as a percentage of total assets, including 15 corporations where the percentage point increase was 10 points or more.

Kind of makes me wonder how much faster the economy could recover if some of those companies would put some of their resources into hiring -- and creating additional consumers for their goods. Hmmm... What do you think?

The much-anticipated Senate bill that would change the governing authority of the Jackson airport has attracted most of the attention in the airport "takeover" fight between Republican lawmakers and Jackson city officials and citizens, but Rep. Mark Baker, R-Brandon, filed a second airport bill earlier this week in the House of Representatives.

The House bill would dissolve the "municipal airport authority located in a municipality with a population of 173,514 according the 2010 federal decennial census" by June 2017. The only city in the state with that population is Jackson. Rep. Baker's bill goes on to describe a nine-member commission that would replace the municipal airport authority. The new "municipal-regional airport authority" would be made up of a representatives from 9 municipalities.

Rep. Baker's bill does not name municipalities; instead it uses 2010 Census figures to describe each separate municipality that would get representation on his proposed commission. Using 2010 Census numbers, the"municipal-regional airport authority" would be made up of one representative each from Jackson, Madison, Ridgeland, Flowood, Pearl and Brandon. There would be one Hinds County Board of Supervisors commissioner and two Rankin County Board of Supervisors commissioners if Baker's bill passes.

The bill was referred to the House Judiciary A Committee (which Rep. Baker chairs) and the House Ports, Harbors and Airports Committee.