Briefs

by John Temple Ligon

Public finance

Standard & Poor's sent a credit affirmation letter to Columbia in late September. The city's general obligation bonds were rated "AA." The top rating, the score that brings the city the lowest interest rate in borrowing through general obligation bonds, is "AAA."

Textiles reduction

Fountain Inn-based Delta Woodside Industries Inc. recently filed for bankruptcy protection and declared plans to liquidate. In 1996, South Carolina textile mills employment was about 70,000. By the end of this year, a little more than 35,000, roughly half of the 1996 total, should still be employed in textile mills.

Flight operations gain

Charlotte is one of three cities competing for the new US Airways flight operations center, good for more than 600 jobs. Also chasing the center are Phoenix and Pittsburgh. The airline should announce the winner by February and open the new center in early 2009.

Lawyers

The S.C. Bar Association has almost 12,000 members, and 7,700 of the membership graduated from law school at the USC.

Business education

The Wall Street Journal ranked USC's Moore School of Business 49th in the country among schools whose graduates are recruited regionally. U.S. News and World Report rated the school's undergraduate international business program the country's #1. London-based Financial Times rated USC's graduate program in international business 36th in the world.

Houses

A 2,200-square-foot house in Columbia can cost about $191,666 on average, according to Coldwell Banker United, while the house goes for $1.8 million in Beverly Hills, California. The average price across the country for the same house is $423,950.

Movies

Since Governor Sanford's incentive package for film production came into play July 1, the production companies are spending about 70% of their film budgets in state.

War wagons

Force Protection Inc., a Ladson defense contractor, built more than 30 vehicles in September, a number ahead of forecasts. The vehicles can withstand blasts from improvised explosive devices (IEDs) and land mines.

Buses continue to roll in Richland County

Richland County Council recently approved a transit tax of $16 for a private vehicle and $24 for business. Altogether for the next year, the proceeds should total $7.5 million for a bus system with a budget of $11 million. The next step in transit subsidies should come in a referendum for a half-cent sales tax, replacing the vehicle tax, as is the case in Charleston and Charlotte.

Lexington County outbid

Chester County beat out Lexington County for a new $100 million, 400-employee Poly- America plant. Lexington County offered a 33% special source tax credit, while Chester County put out a 70% tax credit.

BlueCross subsidiary outbid

BlueCross BlueShield of SC subsidiary Palmetto GBA was told recently by the federal government to expect a shift in service by April 1, threatening 600 jobs in the Columbia area.

Charleston tea

America's only tea plantation is on Wadmalaw Island near Charleston. The 127-acre plantation of 17,000 tea plants is owned and operated by family-owned R.C. Bigelow Inc. Visitors are expected to reach 20,000 next year.

Columbia coffee

A Starbucks location is expected in the renovated American Industrial Supply Co. (AIS) building at the northwest corner of Lincoln Street and Gervais Street.

Columbia efficiencies

As of November 1, Columbia City Council will meet the first and third Wednesday of each month instead of its current schedule of meeting every Wednesday.

Charlotte pays $6 million ~ and for what?

According to the Charlotte Observer , the Johnson and Mecklenburg mills were converted in the early 1990s into affordable apartments by a private developer with city money. The apartments are empty, declared unsafe and unusable. The developer's total cash contribution to the project was $600, and the city's, more than $6 million.

Clemson gets new Charleston home

Clemson University's Charleston architecture program, operating since 1988, has located a site at the corner of Meeting Street and George Street for its new $7 million permanent home. The land is being bought by the Clemson University Foundation for the asking price of $5.6 million. The foundation will then turn around to sell the land to the university for the appraised value of $5.1 million.