GNB Update

Wrapping up a busy Thursday...looking forward to Friday...Here's the news...

The issue of consolidating the governments of Albany and Dougherty County took a major step forward earlier today. The Georgia House this morning passed legislation that clears the way for voters in the southwest Georgia city to vote on whether city and county governments should merge. The measure passed 94-33. The issue now goes to the state Senate.

Doubts have arisen over a Georgia bank's existence. Costar.com reports that the Security Bank Corporation of Macon has found itself under scrutiny from auditors since the beginning of this year. The company's auditors, McNair, McLemore, Middlebrooks, & Co. LLP, says it's doubtful about Security's ability to stay in business. It suffered significant losses last year. That resulted in four of its six subsidiaries not meeting adequate regulatory levels. That meant the banks had to operate under restrictions from federal and state regulators. Security Bank Corporation operates six community banks throughout middle and coastal Georgia, as well as parts of metro Atlanta.

Companies that do business with Sudan could soon have less business. The Georgia House gave a unaminous final approval to legislation that prohibits the state from doing business with companies that operate in portions of the African nation. SB 170 follows the lead of Congress just two years ago, which authorizes state and local governments to prohibit contracts with firms that do business with Sudan's oil, power, mineral, and military sectors. The bill now goes to Governor Sonny Perdue for his signature.

That's the news for Thursday. Remember to visit georgianewsbeat.blogspot.com for the latest and freshest Georgia news, 24/7. Have a good evening.