Briefs
by John Temple Ligon

2006 returns

The Charlotte Observer recently listed the 50 largest publicly traded companies in the Carolinas as measured by revenue. The companies were ranked by total return, counting stock price and dividends. Among the 50, 10 were in S.C.: (6) Centerplate, Spartanburg, +63.54%; (15) Sonoco Products, Hartsville, +33.24%; (21) Advance America, Spartanburg, +21.76%; (26) Denny's, Spartanburg, +16.87%; (33) ScanSource, Greenville, +11.19%; (37) Scana, Columbia, +7.60%; (40) Kemet, Simpsonville, +3.25%; (41) AVX, Myrtle Beach, +3.10%; (45) South Financial Group, Greenville,

-0.90%; (50) Bowater, Greenville, -24.19%.

Delta on the rebound

Delta Air Lines lost only $49 million in November. For the same month a year ago Delta lost $181 million. Delta filed for Chapter 11 bankruptcy protection in 2005, disclosing a $2 billion loss for the previous 12 months. For all of 2006, Delta is expected to report losses totaling no more than $350 million, according to a company spokesman. As it comes out of bankruptcy next year, Delta should finish 2007 with a projected profit of more than $450. Meanwhile, Delta is defending itself against a hostile merger move by US Airways.

Anybody but Mabry

The State Budget and Control Board last week unanimously approved a settlement of more than $40,000 to retire Department of Transportation Director Elizabeth Mabry. With a $1 billion budget, the DOT could stand some restructuring on all levels besides replacing its top leadership, according to the governor.

Tourism

Governor Sanford is pushing to add $13.5 million to last year's $10 million to market tourism in the coming year. The $23.5 million marketing budget still pales in comparison with Ireland's $82 million, particularly when counted as a per tourist cost. Ireland's annual visitors total seven million, and S.C.'s, 17 million.

Speaking of tourism...

The state's restaurant business is expected to add more than 46,000 new jobs over the next 10 years, which puts the state at #3 in the nation for restaurant growth, according to Restaurant Industry Forecast. Restaurant and food service jobs amount to more than 10% of the state's employment.

Broadband

High-speed Internet service could be coming to S.C.'s rural communities if Governor Sanford can get his $2 million request into the budget and through the Legislature. The $2 million is to help rural areas gain Internet access other than dial-up.

Sumter

USC's Sumter campus, a two-year college, had 1,100 students in 1992. This fall, 742 students enrolled. A bill is working its way through the Legislature to create a four- year college from the two- year program in Sumter, all just 35 miles from USC's main campus. The USC- Sumter bill is scheduled for debate in the House Ways and Means Committee, not the education committee where it failed last year.

Mutual appreciation

Guerite Advisors, a two- year- old Greenville-based money management firm, is accepting a minimum of $1,500 to invest in its Guerite Absolute Return Fund, a no- load mutual fund. Guerite began offering shares in the fund on December 26. For more information, visit www.gueritefunds.com.

McClatchy Newspapers and Citadel Broadcasting

The two worst 2006 performers among US companies that made large domestic acquisitions are McClatchy and Citadel, according to Dealogic and the Financial Times. McClatchy bought Knight Ridder (The State, Charlotte Observer, Myrtle Beach Sun News, among many others) for $6.1 billion. Between the announcement of the agreement last March and December 15, McClatchy's stock fell 19%. McClatchy managed to underperform the Standard & Poor's 500 by 30%. Citadel (in Columbia, WTCB, WOMG, WISW, and WLXC) agreed last February to buy most of Walt Disney's radio assets for $2.7 billion. For the rest of the year Citadel's stock fell 17% and underperformed the S&P 500 by 28%. On the other hand, following the fundamentals and the fall- offs, both companies are coming around to the "strong buy" recommendation.

Governor's BBQ

For $60 per person, barbeque is available at 6 pm, January 10, under the S.C. Farmers Market watermelon shed. The inauguration is earlier in the day, but the real event, the destination of the day, is barbeque provided by 13 South Carolina vendors: Willy's of Columbia, BlackJack Barbecue of Charleston, Boss Hogg BBQ of Hopkins, Charleston Bay Gourmet of Mt. Pleasant, Mac's on Main of Columbia, Po Pigs Bo-B-Q of Edisto Island, Shealy's Bar-B-Que House of Batesburg-Leesville, Sticky Fingers of Charleston, Schoolhouse BBQ of Scranton, Farm Boy's Barbecue of Chapin, Henry's Smokehouse of Greenville, Doc's Barbeque & Southern Buffet of Columbia, and Brushy Creek BBQ of Easley. OK, why can't they serve whole hog from Hite's of Leesville or drumsticks from Skeet's of Mechanicsville or at least a bottle of Maurice's sauce, even if it does come from the wrong side of the political tracks? Come anyway and come hungry. To purchase tickets, call 779.2972.