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Longshoremen’s union poised for strike
By Dan McCue , Staff Writer
The Port of Charleston may be poised for its first real work stoppage in nearly 30 years, due to a long-standing impasse over allocations to the local longshoremen’s pension fund, union officials told the Charleston Regional Business Journal.
Ratification of a new local contract between the International Longshoremen’s Association Local 1422 and the South Carolina Stevedores Association was to have occurred in Sept. 2004, when Local 1422 ratified a master international contract approved by its parent organization and a district contract concerning the operation of ports in the southeastern United States.
But Ken Riley, president of the roughly 1,000-member Local 1422, balked at the local agreement, saying it didn’t provide enough of a bump to a pension plan he believes pales compared to those offered in other ports. Since that time his members have been working without a local contract, even though a formal extension of the old agreement has never been signed.
While Riley hopes a stoppage won’t be necessary, he has had the plan and the approval to move ahead with a job action for more than a year, he said.
“If I was the gung-ho, irresponsible type, I could call for a work stoppage today, but I’m still holding out hope that our members will be treated fairly,” he said.
Asked whether the longshoremen would wait another six months or a year before he called for job action, Riley said allowing so much time to elapse would be a breach of his “fiduciary responsibility.”
“It won’t be that long,” he added. “A timetable is in place.”
To read more about this story, see the July 24 issue of the Business Journal.
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Delegation travels to Washington to lobby for interchange funding
By Daily Journal Staff
Orangeburg County officials traveled to Washington, D.C., last week, urging lawmakers to provide funding for an interchange at Interstate 95 and U.S. Highway 301 to help in the creation of an intermodal terminal in the area.
According to published reports, the junket was part of the Central South Carolina Alliance’s larger lobbying effort in the Capital. The alliance, similar to the Charleston Regional Development Alliance, markets a 12-county area along the Interstate 95 corridor to industry.
Orangeburg city officials made a similar appeal to Washington lawmakers for interchange funding earlier this year. They’re looking for a total of $40 million; about $2.5 million has been included in the House version of next year’s transportation budget, a fiscal plan currently being reviewed in the Senate.
The activity comes as Carolina Linkages, the Charleston-based startup planning to create a $250-million intermodal system extending from Shipyard Creek in North Charleston to Orangeburg and beyond, continues to move forward with plans to purchase land in the Lowcountry and in the Upstate.
Company officials have said they plan to close on the 85-acre Macalloy site by the end of the month, and on another 800 acres in Orangeburg County by the end of August.
Orangeburg County Administrator Bill Clark said lawmakers are particularly keen on the Carolinks project because of its potential statewide impact, relieving traffic congestion in the Lowcountry while providing economic stimulus to the Upstate.
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South Carolina’s personal income continues to grow
By Daily Journal Staff
The U.S. Bureau of Economic Analysis has reported that personal income in South Carolina rose 1.6% during the first quarter of 2006, the South Carolina Department of Commerce announced Friday.
The growth, which was two-tenths of a point higher than the national average, ranked South Carolina 19th in the nation and third out of the 12 Southeastern states.
The bureau also reported that South Carolina’s per capita income grew by 4.3% in 2005, which surpassed the Southeastern rate of 4.2%.
A recent Wachovia study found that during the first quarter of 2006, South Carolina experienced a 6.6% growth in its gross state product compared with the national average of 4.8%. The GSP for South Carolina from January to March of 2006 grew at the third fastest rate in the Southeast and tied for the ninth fastest rate in the nation.
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Argolyn Bioscience appoints executive chairman to board
By Daily Journal Staff
Argolyn Bioscience Inc. announced today that James R. McNab Jr. has been appointed to the position of executive chairman of the board of directors.
McNab has more than 20 years of industry leadership experience in both large and small life science technology companies. He is the founder and chairman of the board for Curis, a NASDAQ-listed drug discovery company based in Cambridge, Mass. He is founder and chairman of eNOS Pharmaceuticals in Lexington, Mass. He was also a founder and CEO of Sontra Medical, a drug-delivery device company based on technology licensed from Massachusetts Institute of Technology, and he was the founder of Parker Medical Associates, an orthopedic device company sold to Smith & Nephew in 1996.
“This is great news for Argolyn Bioscience,” Argolyn’s CEO Pearce Gilbert said. “Jim McNab brings to Argolyn a wealth of experience in establishing biopharmaceutical industry relationships and in building successful life science companies.”
Argolyn is a privately held biopharmaceutical company involved in the discovery and development of novel drug candidates to address major unmet medical needs including psychosis, pain and other serious diseases and disorders. Argolyn’s most advanced development candidate is ABS201, a first-in-class peptide derivative currently in preclinical development for the treatment of schizophrenia. A second development candidate, ABS212, also is in preclinical development as a first-in-class therapy for pain.
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International Franchise Association to publish new report
By Daily Journal Staff
The International Franchise Association, along with FRANdata, is preparing to publish a recent study, “The Profile of Franchising, 2006.”
The series of reports will be released beginning in August and will continue for the next seven months in the IFA’s publication, Franchising World.
The following topics from the study will be published in order during the seven-month schedule:
§ Analysis of general franchise trends
§ Investment analysis from franchisee perspective
§ Franchise program requirements
§ Franchisee financing programs
§ Franchisee renewal terms
§ Analysis of special issues
§ Summary of reports
The IFA Education Foundation has released other studies on franchising, including “The Economic Impact of Franchised Businesses.”
IFA is a trade group representing the franchising sector. Its members include 1,000 franchisers, 8,000 franchisees and 400 suppliers.
FRAN data has been a source for information and analysis on the franchise sector since 1989.
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Hot Properties
By Daily Journal Staff
Each Monday, Hot Properties highlights recently sold or leased properties in the Charleston region. Submissions should be sent to dailyjournal@charlestonbusiness.com.
Jeremy Willits of Grubb & Ellis | Barkley Fraser represented Geoffrey Waggoner in the purchase of 501 Belle Hall Parkway, Suite 201, in Mount Pleasant.
Michael J. Ferrer and Thomas G. Buist. J. of Grubb & Ellis | Barkley Fraser represented the landlord in the leasing of 7,200 square feet of warehouse space located at 4301 Dorchester Road in North Charleston.
Will Sherrod of Anchor Commercial | CORFAC International completed the lease at 5401 Netherby Lane to Edward Jones.
Millers of Charleston, a commercial furniture and interiors company, has moved into the Beresford Creek Executive Center, 2265 Clements Ferry Road in Charleston. Bob Caldwell of Caldwell Commercial Real Estate Services represented both the landlord and tenant.
Walter Carr of Carr Properties LLC represented the owners and Saif Sattar of Landmark South represented the tenants in the leasing of 22,750 square feet of warehouse space located 909 Commerce Circle in Hanahan. The new tenant is FMI International LLC, a logistics services company headquartered in Carteret, N.J.
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Job of the Week
By Daily Journal Staff
Each week, Job of the Week will feature one employment opportunity from the Charleston JobNetwork. A new job will be featured each Wednesday.
Radio Communications of Charleston Inc. is hiring installation technicians for two-way radios and GPS units to work in Charleston, Goose Creek, Moncks Corner, North Charleston and Summerville.
Radio Communications of Charleston, based in Goose Creek, is an authorized Motorola two-way radio sales and service center. Both full-time qualified and entry-level radio installation technicians are needed, although two years of installation experience is preferred. Applicants will be required to install and maintain all facets of Motorola two-way equipment, and others, including repeaters, trunking portables and mobile radios. Some fieldwork may be required.
To apply, click here.
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