TODAY'S HEADLINES / AUG. 24, 2011

S.C. banks trim payrolls; profits return

Banks in South Carolina cut more than 2,000 jobs collectively over the past year and returned to profitability, according to new data from the Federal Deposit Insurance Corp. The data tallies information from all insured institutions operating in the state.

Progress, Duke shareholders approve merger

Under the merger agreement announced Jan. 10, and approved, each share of Progress Energy's common stock will be converted into 2.6125 shares of Duke Energy common stock upon closing of the merger, to be adjusted for the reverse stock split approved by Duke Energy shareholders.

SRNL a National Safety Council Indust...

TODAY'S HEADLINES / AUG. 23, 2011

TD Bank to hire 35 in Lexington

The subsidiary of The Toronto-Dominion Bank of Canada said the new staff will focus on research and analysis to support the bank's operations.

State ends fiscal year with $123 million surplus

The unobligated surplus in South Carolina’s revenue for the year ended June 30 can be spent by the General Assembly; put into a rainy day fund to cover future shortfalls; or rebated to taxpayers as some lawmakers have urged.

Workshop to pair lenders, small business owners

A day-long workshop set for Aug. 31 at the Columbia Conference Center aims to help small business owners with strategies on financing their businesses and to me...

TODAY'S HEADLINES / AUG. 22, 2011

Aflac Group grows workforce in Columbia

The rapid growth exceeds top executives’ expectation. The company’s local workforce has grown to 400 workers and another 150 are planned to be added by year’s end. 

SCBT to close BankMeridian office on Main Street

South Carolina Bank and Trust officials say customers will be served at its office at 520 Gervais St. SCBT is still evaluating former BankMeridian offices in Hilton Head Island and Spartanburg.

New Carolina brings back Porter for conference

Michael E. Porter, the Bishop William Lawrence University Professor at Harvard Business School, will be the keynote speaker at a one-day conference on Sept. 22 at...

TODAY'S HEADLINES / AUG. 19, 2011

SCANA CEO denies speculation company is for sale

The Cayce-based electric and gas utility’s statement followed a flurry of trading on Thursday, as investors reacted to speculation on internet sites. About 3.9 million shares were traded Thursday.

S.C. jobless rate rose in July to 10.9%

Lexington County once again had the lowest unemployment rate in the state, and the rate shrank to 8.6% in July from 8.8% in June. But the new rate was up from 8.2% in July 2010. The manufacturing sector continues to churn out more jobs, the Department of Employment and Workforce said, registering growth for the sixth consecutive month.

NRC gives SCE&G nuclear plan favor...

TODAY'S HEADLINES / AUG. 18, 2011

Spirit expands service to metro South Carolina

The Columbia-based telecommunications provider began the expansion of services in January and so far has turned up the speed on its service in the Columbia, Charleston and Greenville markets.

Foreclosures down 21% across S.C. in July

A monthly U.S. Foreclosure Market Report shows a continuing trend in South Carolina and across the U.S., but market experts said it’s based on efforts to help distressed homeowners and not a clear indication the housing market is making a strong comeback.

Thorne joins Companion Property & Casualty as CFO

Formerly with Deloitte & Touche, Jennifer Thorne now is responsible fo...

TODAY'S HEADLINES / AUG. 17, 2011

PolyQuest to expand in Darlington County

The distributor of virgin and recycled polyethylene terephthalate resins, said the expansion of its Darlington County recycling and distribution facility will result in an investment of $8 million and creation of about 20 new jobs.

S.C. College of Pharmacy opens doors in Greenville

The state pharmacy school at Greenville Hospital System University Medical Center is the third campus for the program founded by the University of South Carolina and the Medical University of South Carolina. Seventeen third-year pharmacy students recently transferred to the new campus.

Banning to foster cooperation on economic issue...

TODAY'S HEADLINES / AUG. 16, 2011

Midlands Tech part of nuclear training consortium

The Columbia-based state two-year college will lead South Carolina’s efforts in a collaboration that seeks to meet the critical demand for skilled nuclear technicians in a unified, systematic way.

Port sees revenue, pier container volumes increase

During fiscal year 2011, the S.C. State Ports Authority increased its revenues, earnings, pier container volumes and cruise passengers. Pier container volumes posted their first increase since fiscal year 2005. The SPA board also approved bonuses for the executive staff, crane operators and the general workforce.

Companion Life Dental adds coverage for trave...

TODAY'S HEADLINES / AUG. 15, 2011

Haley signs point-of-sale assessment law

Gov. Nikki Haley and other state lawmakers held a signing ceremony for a bill they said fixes the consequences of a state law that reset the taxable value of a property after it’s sold. The fight over reforming the 2006 tax reform law lasted several years before a compromise plan was worked out in June that allows a 25% exemption of the market value of property being purchased.

Arnold to redo Lake Murray marina, build apartments

Columbia developer Ben Arnold says there is “pent-up demand” for luxury units with upgraded finishes. The complex will include a new marina, commercial area and restaurant.

Deadline to...

TODAY'S HEADLINES / AUG. 12, 2011

SCRA unveils new Innovation Center tenant

Nitek Inc., a pioneer in advanced ultraviolet light technology that grew out of a University of South Carolina research program, will be the newest tenant in the state-owned research center.

Clyburn named to budget supercommittee in Congress

South Carolina will have a seat at the table when the 12-member supercommittee from Congress takes its knife to $1.5 trillion in federal spending. Jim Clyburn, the assistant Democratic leader in the U.S. House, is one of House Democratic Leader Nancy Pelosi’s three appointments to the panel.

Storage company to donate supplies to local school

Extra Space Storage on Decker...

TODAY'S HEADLINES / AUG. 11, 2011

Nuclear agency issues safety report on reactor design

The report from the Nuclear Regulatory Commission is the clearest signal yet that the government does not intend to block U.S. nuclear projects because of the earthquake and tsunami in Japan.

SBA lending up dramatically in S.C.

Small business loans backed by the federal government have nearly doubled in South Carolina, according to new data from the South Carolina district office of the U.S. Small Business Administration. Among the state’s top SBA lenders, TD Bank has doubled its volume and Bank of Travelers Rest has tripled its amount of SBA lending to small businesses.

NAI Avant brokers sale of ...

TODAY'S HEADLINES / AUG. 10, 2011

Sonoco to develop container plant in Ohio

The plant will produce plastic containers and closures for a new personal care product contract.

DEW unveils new Internet portal for claimants

Claimants can file an initial claim, manage an account and make weekly certifications without waiting in line, the state agency said.

NAI Avant brokers sale of West Columbia medical office

The 5,278-square-foot building was acquired by VP Realty LLC.

Graham may seek port deepening earmark as last resort

U.S. Sen. Lindsey Graham posed three options to fund deepening the Port of Charleston during a stop Tuesday in Greenville, including a direct earmark, something that...

TODAY'S HEADLINES / AUG. 9, 2011

Mungo closes deal for new community in West Columbia

The Brookland Mills neighborhood will be built on Hook Road near U.S. 378 and Interstate 26. Despite the struggling economy, the 57-year-old Columbia homebuilder says it has found that homes priced in the mid-$100,000s are strong sellers.

Budget & Control Board approves $63M in construction

The state executive board gave the OK to new projects at state agencies and universities, including $15 million to upfit three floors of the University of South Carolina’s Discovery I research building on the Innovista research campus.

State employees' health plan premiums to go up 4.5%

The state Budget and Cont...

TODAY'S HEADLINES / AUG. 8, 2011

Agency reaffirms S.C. AAA, assigns negative outlook

Weeks after threatening to downgrade South Carolina’s bond rating because of its ties to the U.S. government’s rating, Moody’s Investors Service reaffirmed the state’s AAA rating; but it assigned a negative outlook pending a review of the state’s ability to withstand risk.

Fall Main Street Marketplace taking vendor applications

Columbia’s City Center Partnership, the nonprofit that manages the downtown business improvement district, will hold the Fall Main Street Marketplace again this year and is now accepting vendor registration forms.

LCK Construction names senior project manager

The Columbia-bas...

TODAY'S HEADLINES / AUG. 3, 2011

PalmettoNet to combine with Spirit Telecom

PalmettoNet, which operates fiber-optic networks in the across South Carolina, will combine with Spirit Telecom, a South Carolina-based local exchange carrier. The combined company will do business as Spirit Communications.

BAE Systems receives contracts for 2 S.C. locations

The Army selected BAE Systems and 15 other contractors for a $997 million contract for technology systems. BAE also received $108.4 million to provide Hercules vehicles and parts to the Army and Marine Corps. Part of that work will be done in Aiken.

BMW hiring again, adding health center

BMW Manufacturing said today it will add 100 jobs ...

TODAY'S HEADLINES / AUG. 2, 2011

Palmetto Health gets grant from Duke Endowment

The hospital received $3 million to develop a new model of care for patients with complex illnesses. It will be used to expand an outpatient case management program, develop a new patient care center and secure accreditation as a patient-centered medical home.

Dan Cooper joins Parker Poe Consulting

Former state legislator Dan Cooper of Anderson has become a principal of Parker Poe Consulting, a governmental affairs consulting firm and newly formed subsidiary of the Parker Poe law firm. Cooper spent two decades in the S.C. House of Representatives

TODAY'S HEADLINES / AUG. 1, 2011

SCBT officially takes control of BankMeridian

BankMeridian is the first Columbia-based bank to wind up on the list of failed banks since the Great Recession ended. BankMeridian is the third acquisition SCBT has made in the past year.

Sonoco invests in efficiencies at European mills

The Hartsville packaging manufacturer’s Brussels-based subsidiary, Sonoco-Alcore, is making multimillion-dollar investments in three of its European uncoated recycled paperboard mills. The investments are to improve the plants’ energy efficiency, product range and environmental performance.

USC, Clemson, MUSC get federal nursing grants

The S.C. universities received $657,6...

TODAY'S HEADLINES / JULY 29, 2011

Miller-Valentine refits Lexington County facility

Miller-Valentine Group recently began renovations to an existing industrial facility in Lexington County for Interstate Container, which will manufacture Greencoat, a 100% recyclable, corrugated packaging product used in the food industry.

Surge in retail filling empty storefronts

A market report on commercial real estate in Columbia shows that nearly 300,000 square feet of space has been filled in 2011 as retailing shows signs of bouncing back and landlords trim rents.

SCBT posts Q2 14% rise in net income to $4.9 million

SCBT Financial Corp., the Columbia-based holding company for SCBT, National Ass...

TODAY'S HEADLINES / JULY 28, 2011

Renewable energy offers path for S.C. growth

South Carolina will need power from an assortment of resources, including wind, solar and biofuel, to meet future needs, participants at a renewable energy forum in Columbia said.

NBSC parent Synovus trimmed loss in Q2

The parent company of NBSC bank of South Carolina reported today it lost $53.5 million for the second quarter, a 43% improvement from the first quarter of 2011 and a 78% improvement from the second quarter of 2010. NBSC is the sixth-largest bank in the state, with about a 5.3% market share of deposits as of June 30, 2010.

CapitalBank parent reports loss

Greenwood’s Community Capital Corp. a...

TODAY'S HEADLINES / JULY 27, 2011

Air Wisconsin to open aircraft maintenance facility

The regional feeder airline to US Airways plans to begin an aircraft maintenance facility at Columbia Metropolitan Airport beginning Aug. 4 to service the carrier’s 50-passenger Canadair Regional Jets.

Haley signs tort reform law, makes punitive damages cap

Changes to South Carolina civil litigation laws include a $2 million cap on punitive damages that the Republican governor said was long overdue. She said she would like to see a loser-pay system be added to the law in the future.

Democrats ask for hearing, vote on NLRB subpoenas

Members of the minority party in the House Oversight Committee have...