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Business August 3, 2007
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Briefs
by John Temple Ligon

Berkeley Electric and Santee Cooper go green

The Green Power Solar Schools program was recently formed by Berkeley Electric Cooperative and Santee Cooper. Using renewable resources like solar and methane gas from decomposing garbage, the resulting electricity generation can be termed Green Power. The near goal is to have 19 Green Power Solar Schools in S.C. Each school gets a 2- kilowatt solar power system as a teaching aid. Santee Cooper didn't say what impact the Green Power Solar Schools program had on the company's continued intentions to build a coal- burning power plant in southern Florence County.

National update on coal- fired power plants

By last May, power companies in the U.S. intended to build at least 150 new generating plants powered by coal. An increasing number are being canceled. As climate change has become a hot- button political issue, coal plants have come under question. Almost two dozen coal- burning power plant projects have been canceled since early 2006.

Evacuation

If government officials tell people in high- risk hurricane areas to evacuate under the threat of an approaching hurricane, 31% say they won't go, according to the Harvard School of Public Health Project on the Public and Biological Security. The survey was conducted this past June and July in Alabama, Florida, Georgia, Louisiana, Mississippi, North Carolina, South Carolina, and Texas, and only residents within 20 miles of the coast were included. Three- fourths said their homes were well built and could handle the hurricane, while more than one- fourth said they would not evacuate because of their pets. One- third said their possessions would be damaged or stolen.

USC approves budget

USC approved an operating budget of $996 million for their eight campuses and 39,000 students on June 28. The operating budget for the Columbia campus is $819 million, which includes the medical school. About 80 percent of all undergraduates are from S.C. Meanwhile, private gifts and pledges for the fiscal year 2006- 07 to the university totaled $66.9 million, up 28 percent from last year's $52.3 million.

Charlotte's new streets

Charlotte City Council won't vote on its proposed new street guidelines until September, but some of the specifications are worth noting at Columbia City Council and the surrounding county councils: (1) Shorter block lengths, which means more roads to carry the load and more roads for direct routes for bikers and walkers. (2) Wider sidewalks set off from the roadway to encourage pedestrian traffic. (3) Traffic signals that know to change to green when a bicycle approaches and bike lanes to encourage more cyclists to commute. (4) Wider tree planting strips along the sides of roads that would be big enough for mature canopy- forming trees to spread their roots.

Office rents

Columbia has to be a good office rent deal compared with Charleston's average office rent, which is higher than CCholalirelorst tIen'st earvneartaigoen aanl d Atlanta's average, according to .

Bowater loses, Bowater gains

For the three months ending June 30, Greenville's Bowater, a newsprint maker, lost $62.6 million, which was a per share loss of $1.09. Last week, about 70 percent of Bowater's shares were cast in favor of a merger with Abitibi- Consolidated of Montreal to form North America's third- largest publicly traded paper and forest products company. The new firm, AbitibiBowater, will have projected annual revenue of $7.9 billion.

Close gets farther from Springs

The Close family will sell most of its stake in Springs Global after the initial public offering by the Brazilian company, which was expected by the end of July. The IPO was valued at about $300 million, and the Close family should sell its shares for a total of about $45 million, after which the family will still hold a 5.3 percent stake in Springs Global.

Cut the grass

Just south of Charlotte, more than 30,000 marijuana plants were seized in two July busts. At $35.8 billion in harvests over a three- year period, 2003- 2005, marijuana is the largest cash crop in the U.S. For the same three- year period in S.C., the marijuana business of production and sales was good for $142 million. Tobacco was $97 million, and cotton, $92 million.

Grand opening

The 222- room Hilton Columbia Center on Senate Street is due to open in the second week of August, as is Ruth's Chris Steak House on the Hilton's ground floor, well ahead of opening weekend for USC football home games. Tony Tam, manager of the Hampton Inn on Gervais Street, will also be manager of the new Hilton.


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