Briefs

by John Temple Ligon

Sporting News to see more NASCAR

Charlotte-based American City Business Journals is the nation's leading publisher of metropolitan business newspapers. ACBJ has 41 weekly business publications in cities across the U.S. Last week, ACBJ agreed to acquire Sporting News magazine and its 3.9 million weekly readers. St. Louis-based Sporting News has been published without interruption since 1886.

Belk

Last week America's largest privately held department store chain, Charlotte's Belk, reported second-quarter net income of $26.3 million, up 53% from the same period last year.

Whittle well paid - very well paid

Mack Whittle Jr., CEO of The South Financial Group Inc., was recognized last month by SNL Financial as one of America's over-compensated bank executives. TSFG's bank subsidiary Carolina First Bank runs roughly 100 branches in the Carolinas. TSFG is also the holding company for Florida-based Mercantile Bank. TSFG's assets total almost $15 billion. In 2004, Whittle's pay included salary, bonus, restricted stock, and other compensation for a total of $3.2 million, according to SNL Financial. For 2004, TSFG had a return on average equity of 10.2%. Peer banks' performances averaged a return of 16.2%. As reported by SNL, among the same peer banks, Whittle's pay package rose above the average by 69.6%.

Rogers Townsend & Thomas grows and moves

Since 2001, Columbia law firm Rogers Townsend & Thomas has grown from 65 employees to 220. The firm's new offices at the Synergy Business Center off Broad River Road have 44,000 square feet, but the firm is already planning to add another 10,000 square feet within the year.

Money chase

The Blue Ridge Entrepreneurial Council will hold the fourth annual Carolina Connect Entrepreneur and Capital Conference on September 14 at the Renaissance Hotel in Asheville. Conference registration is at www.ncmtns.biz. For details, call Jim Roberts at 828.273.9862.

Greenhouse gases

Columbia is about to join 300 other American cities in efforts to cut greenhouse gas emissions by 7% by 2012. Governor Schwarzenegger of California has negotiated a statewide plan to reduce similar gases by 25% by 2020. Watch for climate change debates in this fall's mid-term election season but especially in the presidential race in 2008. Senator John McCain, leading Republican contender for the White House, is pushing in Congress for mandatory emission controls.

Former transit provider Duke supports transit

Like SCANA down here, Charlotte-based Duke Energy formerly ran the bus systems in its power-service domain. Unlike SCANA down here, for its headquarters employees, Duke is offering up to $50 a month for bus passes.

Aston Martins for sale at Hampton Automotive?

Ford has appointed an investment bank to handle the sale of Aston Martin, its ultra-luxury brand of sports cars. Ford is also considering a sale of Jaguar, the world's sexiest car. Possibly a package deal, the combined sale of the two in one transaction could put Aston Martins in Jaguar showrooms, such as Columbia's Hampton Automotive.

Star of the show

On display at the Whitney Museum of American Art in New York City is an exhibition of Edward Hopper paintings. Attracting considerable attention is Hopper's 1955 work, "South Carolina Morning."

Designed for Louisiana but certainly

suitable for South Carolina

Lowe's Cos., America's second-largest home-improvement retailer, is selling house kits to hurricane victims. Katrina Cottages come on sale in November at about 20 Lowe's stores in Louisiana and Mississippi. The house kits come complete with just about everything except foundations and mechanical engineering for heating and cooling. Varying in size from 544 square feet to 936 square feet, the houses are designed to withstand winds of 140 mph. Figure on $50 a square foot to buy the kit and another $50 a square foot to finish the whole house. In other words, total costs run from about $50,000 for the 544 square-foot model to $100,000 for 936 square feet, plus land. Designers say the houses can be built in a month. Katrina has come and gone, but Louisiana and Mississippi must build for the next hurricane, as should South Carolina.

South Carolina next

BellSouth Corporation is asking regulators in North Carolina for the right to change prices and calling plans without first getting government approval or holding public hearings. Alabama, Kentucky, and Missouri have already approved similar concessions.