2007: America flunks finance and economics By Bill Settlemyer It’s hard to know where to start, but suffice it to say that the big story of 2007 was that America flunked finance and economics. OK, I guess I do know where to start: The housing bubble and the subprime mortgage mess. It’s fairly easy to cut Joe Sixpack some slack for not recognizing the pitfalls of gimmick mortgages with high fees and unrealistically low initial rates, but how do you cut slack to the highly compensated top executives in banking and finance who lost billions for their shareholders?
People in the News Summerville Medical Center has promoted Lynn Haney-Singleton to chief nursing officer. Singleton was the hospital’s associate chief nursing officer.
Calendar JAN. 3: Business Network International meeting, North Area Chapter. Noon at Sticky Fingers restaurant, North Charleston. Information: Tom Gengo, 866-864-0164, ext. 31, or visit www.bniofthelowcountry.com/chapter.php?chapterID=1.
Accolades & More P.J. Johnson, CEO of Summerville Medical Center, and Deborah Pasch, chief nursing officer of Trident Medical Center, have been elected to serve on the 437th Airlift Wing Honorary Commanders’ Program. Johnson served in the program last year.
Are unions the answer to address workplace issues? Vought workers say ‘yes’ By Dan McCue Workers at Vought Aircraft Industries’ North Charleston plant will tell you they are excited to be working for the company that’s building the world’s first airliner made almost entirely of state-of-the-art composite materials. But talk long enough to workers who voted in favor of union representation at the North Charleston plant, and it quickly becomes apparent that fissures in employee/management relations at the company appeared long before the facility’s recent supply-chain problems.
Air quality linked to port emissions By Dan McCue The S.C. State Ports Authority and others in the maritime industry are taking a cold, hard look at how to reduce particulate emissions stemming from their operations as concerns about air pollution continue to rise.
Jet engine bearing plant coming to N. Charleston By Dan McCue The SKF Group of Sweden and GE Aviation confirmed they are jointly establishing a new facility in the Palmetto Commerce Park in North Charleston to manufacture and repair bearings for General Electric jet engines. Venture Aerobearings LLC is slated to begin operation by mid-2008 from a newly leased facility.
Long Savannah to pump millions into economy By Scott Miller Charleston’s biggest land annexation since Daniel Island will pump millions into the local economy. An estimated dollar amount is unknown, but the Long Savannah project in West Ashley will span at least two decades with more than 3,000 homes being built, an expansion of the Glenn McConnell Parkway from Bees Ferry Road and a number of commercial and civic projects as well.
The business of academics: C of C’s new president moves the historic college into the future By Kristen Poland Stepping out of the second-floor stairwell in Randolph Hall, the oldest structure on the College of Charleston campus, visitors find themselves in the midst of antique furniture pieces and ornate décor that capture the elegance and pride associated with South Carolina’s past.
Building the future block by block By Scott Miller Politicians sat with engineers, environmentalists with developers and academics with corporate executives this month to work out a plan to handle population growth in the Lowcountry.
Charleston set to increase taxes after initial approval By Scott Miller Under a tax increase that easily won initial approval earlier this month from Charleston City Council, an owner with commercial property valued at $500,000 would pay $99 more each year in the city.
China to build 5,000-acre logistics center in S.C. By Dan McCue China plans to build a 5,000-acre logistics center in South Carolina as part of a $100 million investment plan that could add 1,000 jobs and vastly increase the country’s commercial interests in the Palmetto State.
Car dealers expecting credit crunch fallout By Kathleen Dayton It’s that time of year when car dealers are blasting year-end bargains in hopes of making room for new inventory and picking up business in what typically is a slower season for auto sales. Most of them had better make those deals extra sweet.
Private island to get $31 million facelift By Kathleen Dayton Three decades after the first residents and golfers moved to this 2,200-acre oceanfront paradise, Seabrook Island is poised for a makeover. The circa-1974 amenities of the private island, including its stucco-and-steel Beach Club, Island House restaurant and golf clubhouse, will soon fade into history as a $31 million redo transforms the dated structures into a resort complex.
Certified for hire: SBE helps companies build resumés By Scott Miller Randolph Scott’s materials hauling business increased 80% after receiving certification through Charleston County’s Small Business Enterprise program in October, he said.
Clemson alum makes Hillwood a major Lowcountry player By Dan McCue The Clemson University ties of a senior executive of Hillwood Investment Properties were a crucial factor in the office and industrial property development company’s decision to roll the dice on creating a 750-acre business park near Interstate 26 in Berkeley County.
State’s first ad agency changing its name By Scott Miller South Carolina’s oldest advertising agency joined one of the state’s largest advertising and public relations firms in a merger effective Dec. 5. Mount Pleasant-based Advertising Service Agency, founded in 1931, said it’s dropping its name and merging with Columbia-based Chernoff Newman in a move that will bring the two companies’ total annual billings to more than $50 million.
Three accounting firms merge By Scott Miller Three of the Palmetto State’s oldest accounting firms are joining forces in a merger that’s been under negotiation for a year. McKnight Frampton CPAs LLC and Schleeter Monsen & Debacker LLP are merging with Elliott Davis LLC, effective Jan. 1, 2008, the three firms recently announced.
Study: New coal plant will power the economy By Molly Parker Santee Cooper’s proposed $1 billion coal plant for rural Florence County will pump nearly $900 million into the economy and create 9,300 full-time jobs during a five-year construction period, according to a study the utility released in mid-December.
Companies invest in health By Molly Parker Last year, when the Noisette Co. was the subject of scrutiny for its work on the old Charleston Naval Base, Diane Knott wanted to give the employees a token of appreciation for weathering the tough times.
Demand booming for medical records employees By Scott Miller Nurses and other health care professionals are in high demand, but not all job seekers have the stomach for blood tests and stitches. The ever-growing health care field, however, offers many jobs that don’t require a medical degree to be successful. The demand is so high that schools can’t keep up with the growing need for workers in medical administration.
Lasik surgery becoming more commonplace By Kathleen Dayton Few people outside of the medical profession might understand the term “laser assisted in-situ keratomileusis.” But even schoolchildren are likely to have heard about Lasik, the laser surgery used for vision correction that has become one of the most commonly performed surgical procedures in the country.
Roper St. Francis unveils new CyberKnife technology By Molly Parker The new CyberKnife Robotic Radiosurgery System at Roper St. Francis Healthcare shoots X-ray beams as thin as “the tip of a pencil” at abnormal cells with an accuracy the makers say won’t stray more than the width of a strand of hair.
Health Care Hero Community Outreach: REV. AL FINLEY By Holly Fisher Like the small church he pastors in the Berkeley County community of Strawberry, the Rev. Al Finley has a big heart. As associate chaplain at Trident Medical Center, Finley is on call from 5 p.m. Monday night to 8 a.m. Tuesday morning, ready to step in during a crisis to talk to patients or family members.
Health Care Hero First Responders: STACY KRAUSMANN & LT. RONALD THOMASON By Holly Fisher Charleston County EMS paramedic crew chief Stacy Krausmann never takes Trolley Road in Summerville when heading home, and Lt. Ronald Thomason of the Summerville Police Department travels Trolley Road frequently and without incident.
Health Care Hero Health Care Professional: MERCY SALVATIERRA By Holly Fisher Members of the Bicol Association of Charleston, a group of Filipino Roman Catholics, were dancing, picnicking and celebrating Our Lady of Penafrancia at Short Stay Naval Recreational Park. It’s appropriate Penafrancia is a miraculous saint because a miracle happened during the party.
Health Care Hero Nurse: KAREN MCMILLAN By Holly Fisher The maternity ward is supposed to be a happy place full of joy, excitement and new beginnings. But sometimes sadness and loss creep in, and when they do, expectant parents go from happy to heartbroken.
Health Care Hero Physician: Dr. ROBERT STUART By Holly Fisher When Dr. Robert K. Stuart started his medical career in the 1970s, cancer was a hidden disease. People didn’t talk about cancer. And it was regarded as a disease to be treated with surgery—radiation and chemotherapy were used only as a last resort.
Health Care Hero Volunteer: JERRY CRAIG By Holly Fisher Even before 8 a.m., Jerry Craig is full of energy. While volunteering at one of Roper Hospital’s information desks, he greets one of his favorite doctors with an enthusiastic “How are you?” Craig responds to the doctor’s own greeting with a boisterous “Great! Have a wonderful day!”
