Briefs
by John Temple Ligon
Duke up Charlotte- based Duke Energy Corp. reports a first- quarter earnings increase of 30 percent from a year ago with $465 million in net income, which is up from net income of $357 million last year. The company's biggest gain in earnings came from its commercial sector. Earnings in commercial sales before interest and taxes totaled $146 million for this year's first quarter, up from $13 million a year ago.

Immigration wars S.C. Governor Sanford objects to the new Senate immigration bill which would fine businesses up to $10,000 if they knowingly hire illegal workers. Sanford complains the immigration bill, reportedly the toughest in the country, is not enforceable.

Affordable housing Federal Home Loan Bank of Atlanta is advertising $6.2 million in awards to help S.C. developers fund 20 affordable housing projects. FHLBank Atlanta will award more than $50 million nationally.

Watch over ya,Wachovia Charlotte- based Wachovia Corp. should suffer a second- quarter charge of $800 million to $1 billion resulting from a federal appeals court ruling related to the tax treatment of leveraged lease transactions. Wachovia says its $1 billion maximum charge is based on its study of the April 29 court ruling in BB&T Corp v. the United States, which requires assessments of transactions entered between 1999 and 2003 on lease- to- service contracts. Wachovia stopped such transactions in 2003. Upward downtown In 2003, gross business revenues in the Business Improvement District totaled $630,215,297, and in 2007, $844,973,384, an improvement of more than 34 percent over four years.

Nexsen Pruet gains recognition

Southern Business & Development magazine identified Nexsen Pruet as the only law firm in S.C. to be recognized as one of the South's top law firms for economic development. Nexsen Pruet was also the only law firm in the City of Columbia to be recognized by Mayor Coble, a partner in the firm, and city council as capable of collecting all the legal fees in the development of the city's convention center on Lincoln Street.

Lourie's to close Main Street's major men's store, Lourie's will close on June 30, 2008. The store's history was summarized in an advertisement on its 95th anniversary in 2007, which said in part: Louis Lourie, a 22- year- old Russian immigrant, opened a small store in St. George, S.C., in 1912. Sons Mick and Sol brought the business to Columbia after World War II. Voted Best Men's Store by readers of The State every year since the Best of Columbia survey began in 1991, Lourie's has stayed on top by offering its customers a wide selection of top quality merchandise, outstanding values and the best in personal service. Air traffic SATSair, headquartered in S.C., is a provider of on- demand air cab service. SATSair experienced more than 60% growth in the number of flights in the past year, which included 16,000 flights landing in 27 states. MUSC The Medical University of South Carolina in Charleston is a public university funded by the State of South Carolina. State tax dollars, however, fund only about seven percent of the university's $1.6 billion budget for the current fiscal year.

Newspapers downsize

The Charlotte Observer has made voluntary buyout offers across all departments except Web- development and HR. The company's work force is expected to reduce by five percent as of May 30, the completion date of the buyouts. The News & Observer of Raleigh, N.C., is offering volunteer buyout packages to about 200 of its 900 employees. McClatchy Co., based in Sacramento, Calif., owns both newspapers as well as The State in Columbia, The Heraldof Rock Hill, the Fort Mill Times , and the Myrtle Beach Sun News . The company reported a first- quarter loss of $849,000. Last year in the same period, the company had an income of $9 million.