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Magnolia Mornings: March 25, 2024

Magnolia Mornings: March 25, 2024

By: Magnolia Tribune - March 25, 2024

Magnolia morning
  • Important state and national stories, market and business news, sports and entertainment, delivered in quick-hit fashion to start your day informed.

In Mississippi

Severe weather making its way through Magnolia State

According to MEMA, parts of Mississippi have been upgraded to a level 3, enhanced risk for severe storms Monday afternoon through the evening.

Damaging winds and tornadoes are possible. Stay weather aware through the next 24 hours.

National News & Foreign Policy

1. Trump facing deadline to post bond or risk NY seizing assets

Donald Trump in Manhattan court for arraignment.
Former President Donald Trump sits at the defense table with his legal team in a Manhattan court, Tuesday, April 4, 2023, in New York. (AP Photo/Seth Wenig, Pool)

Former President Donald Trump is under the gun this morning, as according to Reuters, he faces a Monday deadline to post a bond to cover a $454 million civil fraud judgment or face the risk of New York state seizing some of his marquee properties.

Reuters reports that Trump “must either pay the money out of his own pocket or post a bond while he appeals Justice Arthur Engoron’s Feb. 16 judgment against him for manipulating his net worth and his family real estate company’s property values to dupe lenders and insurers.”

“Taking control of Trump’s properties would pose a host of legal and logistical challenges for the attorney general’s office. Placing liens on them to ensure they are not sold or transferred and going after Trump’s liquid assets would be more straightforward,” Reuters notes.

2. Speaker Johnson on the hot seat… at least with some Republican members

Speaker-designee Mike Johnson (behind the podium) flanked by members of the House Republican Conference as they bow in prayer following his nomination as Speaker. (Photo X)

Speaker Mike Johnson is facing backlash from his right as Republican members criticize his handling of the spending agreement passed by Congress late last week that avoided a partial government shutdown.

Congresswomen Marjorie Taylor Greene introduced a motion to vacate the speakership over opposition to the bill but as the Washington Post notes, she “characterized the motion as ‘more of a warning’ to Johnson and has not committed to a timeline for a vote.”

“The soonest her effort could be addressed is after the House returns next month from a two-week recess, and the resolution probably won’t be considered unless Greene introduces it under ‘privilege.’ That tactic would force a House vote on Johnson’s future within 48 hours,” the Post reports.

Most Republicans dismissed the move knowing that they now only hold a 2 seat majority given recent resignations.

Sports & Entertainment

1. Big 3 all lose their weekend series

(Photo from SoutherMissBSB on X)

Southern Miss, Mississippi State and Ole Miss baseball teams all went 1-3 in their weekend series.

The Golden Eagles lost two to Georgia Southern while the Bulldogs lose two to No. 7 Texas A&M and the Rebels lost two to No. 8 Tennessee.

All three are back in action on Tuesday for midweek games before another weekend of conference games.

2. Ole Miss women to play Notre Dame on Monday

(Photo from Ole Miss Athletics)

The Ole Miss women’s basketball team are set to play Notre Dame on Monday in the Second Round of the NCAA Tournament.

No. 10 Ole Miss looks to get to the Sweet Sixteen with a win over No. 2 Notre Dame. The Rebels are the No. 7 seed while the Fighting Irish are the No. 2 seed.

The game tips off at 1:00pm.

Markets & Business

1. Shortened trading week ahead

CNBC reports that stock futures were slightly lower Monday morning to start March’s last—and shortened—trading week.

“Futures tied to the Dow Jones Industrial Average edged lower by 87 points, or 0.2%. S&P futures and Nasdaq 100 futures lost 0.4% and 0.6%, respectively,” CNBC reported, noting, “The market is on track for its fifth consecutive month of gains, with the major U.S. stock benchmarks crossing new all-time closing high levels last week.”

2. California $20 minimum wage law forcing businesses to cut staff, scale back, raise prices

The Wall Street Journal is reporting that California restaurants are cutting jobs as fast-food wages are set to rise due to a new state law that forces wages to be raised in April to $20 an hour.

“Some restaurants there are already laying off staff and reducing hours for workers as they try to cut costs,” WSJ reports. “California restaurants, particularly pizza joints, have outlined plans to cut hundreds of jobs in the months leading up to the April 1 wage mandate, according to state records. Other operators said they have halted hiring or are scaling back workers’ hours.”

WSJ goes on to report that, “Many California restaurant operators are looking for other ways to cover the cost, like reducing hours, closing during slower parts of the day or serving menu items that take less time to make,” while others “are turning down opportunities to open new locations in California and looking at expanding in other states instead.”

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Magnolia Tribune

This article was produced by Magnolia Tribune staff.