Magnolia Mornings: July 24, 2024

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

In Mississippi

1. Court orders garnishment of Jackson city councilwoman’s paychecks

According to WLBT, a court has ordered Jackson Ward 2 Councilwoman Angelique Lee to use a portion of her council paycheck to A2Z Printing for nearly $21,000 in expenses racked up by her campaign.

“The Hinds County Circuit Court issued a default ruling against Lee and Lee’s campaign last May. A writ of garnishment was issued in October to the city of Jackson,” WLBT reported. “Pay stubs obtained by WLBT show deductions were made in Lee’s checks for the weeks of November 22 and December 7, 2023. Documents show those deductions again picked up in February of this year and continued at least until June 6.”

WLBT reported that Lee is required to pay $21,295.71 to A2Z and $168 in court costs. “She also will be charged eight percent interest per year until the debt is retired, court documents show.”

2. Rendon being promoted to Brigadier General in National Guard ceremony

The Mississippi National Guard announced Tuesday that it is hosting a promotion ceremony at the Old Main Academic Center on the Mississippi State University campus, Thursday, July 25, 2024, beginning at 1:00 p.m.

Col. Andrew S. Rendon, commander of the 66th Troop Command and executive director for Veterans and Military Affairs at MSU, is being promoted to the rank of brigadier general during the ceremony officiated by Maj. Gen. Janson D. Boyles, the adjutant general of Mississippi. 

Rendon, a long-time resident of Starkville and MSU graduate, began his military career nearly 30 years ago as an Army Aviator. After spending nine years on active duty, with assignments in Germany and Alabama, Rendon joined the Mississippi National Guard in 2004 serving in various aviation roles throughout the state, from logistics officer and platoon leader to his current role as the commander of 66th Troop Command and director of Joint Staff for the Mississippi National Guard.

National News & Foreign Policy

1. Biden to address nation from Oval Office following decision to exit race

President Joe Biden is scheduled to address the nation from the Oval Office on Wednesday night to talk about his decision not to seek re-election and what that means for his last few months in office as he seeks to “finish the job.”

The primetime address will begin at 7 p.m. CT and will be carried on most all news and streaming networks.

Biden’s team published a letter on Sunday stating that he had decided to exit the presidential race. The President had been in self-isolation with COVID. Soon after, he endorsed his Vice President Kamala Harris for the Democratic Party’s nominee.

President Biden spent 36 years as an U.S. Senator from Delaware before becoming Vice President for two terms with former President Barack Obama.

2. Netanyahu to address Congress, VP Harris won’t preside over joint meeting

Vice President Harris has declined to preside over the Senate chamber when Israeli Prime Minister Benjamin Netanyahu addresses a joint meeting of Congress on Wednesday afternoon, according to sources as reported by the Washington Post.

“Harris is traveling to Indianapolis for a previously scheduled event during Netanyahu’s speech, and her absence should not be interpreted as a change in her position on Israel, said a Harris aide, who spoke on the condition of anonymity to discuss plans that are not yet public,” WP reported, adding, “Republicans have banded together in support of Netanyahu, attacking Democrats for any criticism of the prime minister, and House Speaker Mike Johnson (R-La.) threatened to have anyone who disrupts the event arrested.”

The Israeli Prime Minister is also set to meet with former President Donald Trump at his home in Florida on Friday. Trump posted on TruthSocial, “Looking forward to welcoming Bibi Netanyahu at Mar-a-Lago.”

Sports & Entertainment

1. Six Miss. State players make Shrine Bowl Watchlist

Six Mississippi State players landed on the 100^th East-West Shrine Bowl 1,000 Watchlist on Tuesday ahead of the kickoff to the 2024 football season.

Mississippi State’s representatives on the watchlist are Corey Ellington, Kelly Akharaiyi, Trent Hudson, Blake Shapen, Montre Miller and Ethan Miner.

The 2025 East-West Shrine Bowl will be held in AT&T Stadium on Thursday, January 30, 2025. Mississippi State kicks off the season on August 31 when the Bulldogs host Eastern Kentucky.

2. Southern Miss HC Hall to speak at Sun Belt Media Days

The Sun Belt Conference Media Days are being held in New Orleans this week. The event is being broadcast nationwide on ESPN+.

Southern Miss Head Coach Will Hall will address the media on Wednesday at 1:30pm. With him on stage will be wide receiver Ti Mims and linebacker Jalil Clemons.

The full list of media days attendees—the head coach and two student-athletes from each football program—and schedule can be found here.

Markets & Business

1. Homebuyers holding off on purchases, mortgage applications down

Applications for a mortgage to purchase a home still dropped another 4% last week compared with the previous week and applications to refinance a home loan were essentially flat, up just 0.3% for the week, this according to CNBC. Mortgage rates, however, were slightly down.

“The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) decreased to 6.82% from 6.87%, with points increasing to 0.59 from 0.57 (including the origination fee) for loans with a 20% down payment, according to the Mortgage Bankers Association. That is the lowest level since February of this year,” CNBC reported.

As CNBC notes, homebuyers are likely waiting for interest rates to drop further as the expectation is the Federal Reserve will cut its rate in September.

2. How would a President Harris impact the U.S. economy?

The Wall Street Journal asked, “What would a Harris presidency mean for the economy?” stating that with the economic as a central issue this election year “her positions and policy goals haven’t yet been as clearly defined.”

“Her record does reveal, however, some clues about her priorities, including a focus on low-income workers, women, small businesses and middle-class families,” WSJ reported. “As vice president, Harris has largely moved in lockstep with President Biden on economic issues, and some analysts see this record as a road map.”

WSJ went on to report that Harris “shed light on some of her economic priorities Monday in an address to campaign staff. As president, she said, she would push for paid family leave and affordable child care.”