TheState.com: Business

S.C. Black Caucus has questions for Boeing

Mon, 09 Nov 2009 21:56 EST

South Carolina's Legislative Black Caucus wants to make sure that minorities have a fair and equal shot at the new jobs Boeing Co. is bringing to the Lowcountry, according to letter obtained by The Post and Courier on Monday.

Sen. Robert Ford, a Charleston Democrat and chairman of the caucus' Civil Rights and Affirmative Action Committee, wrote Boeing president Jim McNerney on Oct. 30 to ask for information about the company's hiring practices.

Ford, who is running for governor, represents Senate District 42, where Boeing's newly announced Dreamliner assembly line will be located. He included in the letter the racial makeup of his district and the greater Charleston area, which is 55 percent and 40 percent African-American, respectively, according to Ford. The overall black population statewide is 31 percent, Ford said.

"The African-American community has borne the brunt of the job displacement and as a result has been disproportionately affected," Ford wrote to McNerney about the recession's toll in South Carolina.

The caucus is requesting information about Boeing's job creation plans for the North Charleston facility, employment statistics company-wide for minorities and the breakdown of men and women employed at all Boeing facilities. The caucus also asked for Boeing's minorities contractor politics and procedures and requested meetings with Boeing leadership.

Columbia's retail recruiter optimistic about downtown

Mon, 09 Nov 2009 21:56 EST

Amy Stone is the city of Columbia's retail recruiter. She played a key role in last week's announcement that Mast General Store is coming to the Lourie's building on Main Street.

On Monday, she spoke to The State newspaper about downtown's retail future.

What does Mast General Store opening on Main Street mean to retail recruitment downtown?

Mast will serve as a catalyst for downtown retail. They have a great business plan and have been quite successful in other markets. Success breeds success, and other stores will want to locate near them for that reason. Mast will be an attraction and a destination. Other stores will reap the benefits of increased numbers of shoppers in the area.

What about Columbia attracted the store here?

$82 million 3 Hebrew Boys fraud trial beginning

Mon, 09 Nov 2009 21:56 EST

The 3 Hebrew Boys investment scheme goes to trial today, as opening arguments and testimony begin in the $82 million case.

The men were first arrested by state officials in 2007 for selling unregistered securities. They were indicted on federal charges a year later.

A summary of the criminal trial held in federal court in Columbia:

The accused: Joseph Brunson of Hopkins, Timothy McQueen of Blythewood and Tony Pough of Columbia

The charges: 35 federal counts of mail fraud and one count of conspiracy to commit mail fraud, punishable up to 20 years in prison if convicted

S.C. forgoes millions in aid

Mon, 09 Nov 2009 21:56 EST

South Carolina is missing out on nearly $100 million more in federal stimulus dollars for unemployment benefits, but it will be months before out-of-work residents see the money, if they ever do.

Congress tried to entice the states to update the 1930s-era social welfare program by including $7 billion in the American Reinvestment and Recovery Act. The money is intended to cover more women and part-time and low-wage workers who currently don't qualify for unemployment checks. In South Carolina, the changes could provide nearly 17,000 more jobless residents with benefits.

But South Carolina legislators aren't prepared to change the rules, which were drawn up at a time when the workplace was more traditional.

House Majority Leader Kenny Bingham, a Cayce Republican, said it hardly makes sense to add more people to the dole that already is running a projected $1 billion deficit, money that state businesses will have to pay back at some point.

On the flip side, legislators such as Rep. Joe Neal, a Hopkins Democrat, argue for civility and fairness. Employers make contributions for every worker on the payroll to the fund that pays out unemployment benefits, he noted.

Hard times not hurting shoe sales

Mon, 09 Nov 2009 21:31 EST

For months now, consumers have been hunkering down in an economic storm, buying only what they need to survive, like groceries, diapers, medicine - and shoes.

Shoes?

The American public, it would seem, cannot carry on without new shoes. Boots, booties, sneakers, pumps - for the last few months they have all been selling well as the broader economy struggles toward recovery.

Retailing executives and analysts offer varying, occasionally wacky, explanations. The one favored by many of them is that consumers consider shoes more of a necessity than, say, dresses, cuff links or handbags, so people feel less guilt about buying them.

"I would argue you wear out shoes more than you wear out handbags," said Marie Driscoll, an analyst with Standard & Poor's Equity Research who is adept at rationalizing her own shoe purchases. Living in New York, she walks everywhere. "I use the argument, 'If I spend $150 to $300 on shoes, this is my car.'"

See Jill Save: Free movie tickets

Mon, 09 Nov 2009 17:06 EST

Want to go to the movies for free or save money on holiday movie gifts?

Free tickets

- Purchase two specially marked boxes of General Mills cereal and receive a free movie ticket. To enter codes from boxes and print your movie certificate, go to new.emoviecash.com/gmills

- Get a free movie ticket for buying Spot Shot carpet cleaner. Details: activaterewards.com/registerspotshot

DVD rebates

Review: Droid smartphone is good, but it's not the iPhone

Sun, 08 Nov 2009 21:14 EST

Motorola's new Droid smartphone has attracted a fair amount of attraction as quite possibly the toughest challenger yet for the iPhone.

It's the first phone to run Android 2.0, the latest version of Google's smartphone operating system. It's the first Android phone offered by Verizon, which is reputed to have the best wireless network in the nation.

And it's the first Android phone available in the United States that has taken the iPhone's aesthetic into account in its design: The Droid is thin but sturdy and places its large touch screen front and center.

But as much as the Droid improves on previous Android phones, it's still no iPhone. Both its hardware and software lack the refinement of Apple's iconic device.

The first thing you notice about the Droid is that it feels solid in your hand. Unlike the myTouch 3G, the Android phone that came out this summer on T-Mobile, the Droid doesn't feel like it's made of cheap plastic. On the other hand, it weighs about an ounce more than my iPhone, and that difference was noticeable as I held it in my hands surfing the Web or typing e-mail.

PCs shed pounds and CD drives, gain touch screens

Sun, 08 Nov 2009 22:04 EST

Personal computers are changing. Visit an electronics store and you might also find laptops are missing a familiar component. You could experiment with new ways of controlling some computers. And you'll see portable PCs slimming down. Here's a look at what the season's computer trends mean for you.

We're over drives: Computers have come with "optical drives," slots for CDs or DVDs, for years. They've been useful for installing new software, watching movies or transferring music libraries into digital form. But one of the biggest lessons from the craze for "netbooks" - inexpensive little laptops designed mainly for browsing the Web - is that people were so excited about the small, easy-to-carry size that they didn't miss having a CD or DVD drive.

Taking out the optical drive doesn't significantly lower prices. Doing so does let PC makers design much thinner laptops.

You just might want to think twice if you're hooked on transferring CDs into MP3s - or if you spend a lot of time watching DVDs on airplanes and don't want to squint at your iPod screen or get a portable video player.

Good enough is plenty: It might sound impressive when a PC sales pitch mentions multicore processors, state-of-the-art graphics chips, 4 or 6 or 8 gigabytes of memory and hard drives with a terabyte - 1,000 gigabytes - of storage. But another thing netbooks showed is that with a few exceptions - such as professional video editing, and maybe hard-core video-game playing - having lots of PC power is overkill.

Why you should still be waiting for Windows 7

Sun, 08 Nov 2009 02:02 EST

Microsoft's latest operating system made its debut last week, and so far, it looks to be the company's best operating system yet.

By the time you read this, you've either:

- Already bought and installed it.

- You bought it and it's still sitting there in the box or on the download CD.

- You don't have it yet.

Withholding cut may create problem

Sat, 07 Nov 2009 22:45 EST

Stimulus payout may come back to bite you in the tax

That little extra bit of money in the form of a larger paycheck tied to the Obama stimulus plan could end up taking a bite out of your federal income tax refund or even leave you owing taxes.

The stimulus plan lowered federal income tax withholding rates, which results in more take-home pay but less money going toward taxes. The downside is some taxpayers may end up with not enough taxes being withheld to cover what they owe in 2009.

As a result, some taxpayers may need to increase their withholding amount by reducing the number of allowances claimed for the rest of year, which means making changes to a W-4 form available from an employer's human resources department.

Single taxpayers who are working at more than one job and married couples filing jointly in a situation where both spouses work are the most likely groups of taxpayers to be caught short.

People and achievements

Sat, 07 Nov 2009 23:16 EST

PHT Services associate Nikita O. Walker has earned the Accredited Business Accountant designation.

INSURANCE

Kyle Addy was promoted to vice president of sales management performance at Colonial Life & Accident Insurance Co. He will help oversee account and sales management for the company's 7,000-member independent contractor sales organization. Addy had worked in the sales department, where he organized national sales and training conferences and coordinated annual meetings.

LAW

Parker Poe Adams & Bernstein won a Workplace Diversity Award in the small employer category from the S.C. Chamber of Commerce and the S.C. Diversity Council. The firm was cited for focusing on recruiting and retaining women and minority lawyers through special initiatives, including mentoring, annual roundtable discussions and a formal alternative work schedules policy. Parker Poe also created a director of professional development and diversity position to charge a lawyer with overseeing diversity initiatives.

Read up on personal bankruptcy before making a decision

Sat, 07 Nov 2009 22:44 EST

Declaring bankruptcy is not an easy choice. But for those in dire straits, it can prove a viable option that allows financial recovery.

Bankruptcy comes in different forms. For instance, Chapter 7 and Chapter 13 bankruptcy are designed for individuals, while Chapter 11 bankruptcy deals with businesses.

If you'd like to learn what bankruptcy entails, several recent books on the topic are available to consult. Here are a few titles:

"CHAPTER 13 BANKRUPTCY, 9TH ED." By Stephen Elias and Robin Leonard; Nolo Press, 2008 ($39.99): Includes how to pay certain debts, developing a payment plan and state and federal bankruptcy forms.

"HOW TO FILE FOR CHAPTER 7 BANKRUPTCY, 15TH ED." By Stephen Elias, Albin Renauer and Robin Leonard; Nolo Press, 2008 ($29.99): Explains bankruptcy eligibility and filing, and canceling debt.

What to do if you tap your 401(k)?

Sat, 07 Nov 2009 22:45 EST

Should a family take a loan out of their 401(k) to pay for braces that cost $5,000?

These days, it might make sense.

While you should avoid taking a 401(k) loan, you might have little choice when credit card companies are stingy, consumer loans are tight or priced high out of reach and home values are so low that some families can no longer take out a home-equity line of credit.

INTEREST SAVINGS

Two economists at the Federal Reserve Board in Washington wrote a paper this year that suggests households could save roughly 20 percent - or about $275 per year - of their overall interest costs if they opted to borrow money from their 401(k) plans instead of taking on expensive consumer debt.

Job interviews: High-stakes improv

Sat, 07 Nov 2009 22:45 EST

Yes, and ...

Those two words can really help you in a job interview.

Just ask a comedy improvisation teacher.

While the lessons actor and comedian Bill Chott teaches in improv classes in St. Louis may be aimed at those with dreams of stage and screen, he and his students have come to realize that the courses prepare the unemployed for the moment they take a seat opposite a hiring manager.

When you think about it, a job interview is really little more than high stakes improvisation. Anyone who has watched Drew Carey's "Whose Line Is It Anyway?" can attest, improv is all about listening carefully to the cues and responding appropriately - a lot like responding to an interviewer.

ASSOCIATIONS/CLUBS

Sat, 07 Nov 2009 22:44 EST

Note: Some clubs might limit participation to one person per business category. Call in advance.

AMERICAN SOCIETY OF CIVIL ENGINEERS: 6:30 p.m. second Thursdays, USC College of Engineering, 300 Main St., Room B201; Charlene M. Cassidy, (803) 227-3474, cassidy@pbworld.com

ASSOCIATION OF GOVERNMENT ACCOUNTANTS: 1-2 p.m. second Wednesdays; columbiaaga.com

BUSINESS ASSOCIATION OF COLUMBIA: 7:30 a.m. Wednesdays, Summit Club, 1301 Gervais St.; Summers Duffie, (803) 351-4390

BUSINESS DEVELOPMENT CLUB, GATEWAY DOWNTOWN CHAPTER: 6:45 a.m. Tuesdays, Summit Club, 1301 Gervais St.; scbdc.com

S.C. jobless at wits' end as U.S. rate tops 10%

Fri, 06 Nov 2009 22:57 EST

Fruitless search for work frustrates, frightens local residents

People streamed into the unemployment office on Taylor Street on Friday - some looking determined and dressed for an interview, others resigned and bedraggled from the job search.

One woman walked out of the door shaking her head and muttering, "no jobs, no jobs, no jobs."

A welder who lost his job after nearly a quarter of a century threw his hands up in the air: "What good has it done me?"

They are all part of the growing fabric of unemployed Americans facing unprecedented financial hardships as the government announced Friday that the national unemployment rate soared last month above 10 percent for the first time in 26 years.

Headquarters for Boeing builder set

Fri, 06 Nov 2009 22:49 EST

A building group's regional office in Greenville will be the headquarters for a joint venture that will design and build Boeing Co.'s new $750 million 787 Dreamliner final assembly plant in North Charleston, state officials said Friday.

A joint venture of the BE&K Building Group and Turner Construction, with design partner BRPH, has been awarded the design-build contract for the plant, state Department of Commerce officials said.

Construction of Boeing's new facility could create up to 2,000 jobs, state officials said.

The BE&K Building Group's South Carolina regional office in Greenville will serve as the headquarters for the BE&K/Turner/BRPH design-build team, the officials said.

In 2006, BE&K Building Group, in a design-build partnership with BRPH, delivered two major facilities at the site.

Four S.C. bookstores to close

Fri, 06 Nov 2009 22:50 EST

Borders will close 200 of its Waldenbooks stores nationwide, including four in South Carolina, as part of an initiative to bolster the embattled bookseller.

The S.C. stores that are slated to close: Columbiana Centre in Columbia; Haywood Mall in Greenville; Greenwood Mall in Greenwood; and Mall At Shelter Cove in Hilton Head Island.

The stores will remain open through the holidays, closing by the end of January.

Gift cards bought at the stores can be used at any Borders or Waldenbooks location or borders.com. There is no change for customers who joined the Borders' customer-loyalty program at the closing locations.

The move, which will leave about 130 Waldenbooks stores under the Borders umbrella, will shave 1,500 jobs nationwide.

Wal-Mart's Web deal starts DVD price war

Fri, 06 Nov 2009 22:50 EST

First it was books. Now it's DVDs.

Wal-Mart Stores Inc. started another price war Thursday, trimming the online preorder prices of some upcoming DVDs following its price cut on books last month. And, once again, competitors Amazon.com and Target scrambled to match the prices.

It's the latest salvo in an ongoing online push by Wal-Mart designed to make sure everyone knows it intends to be the low-price leader on the Web, as well as in stores.

The retailer, based in Bentonville, Ark., said late Thursday that it would lower the online prices of new DVDs such as "Harry Potter and the Half Blood Prince" and "Star Trek XI" to $10.

But when Amazon reduced some of its DVD prices to $9.99, Wal-Mart shot back by cutting its DVDs to $9.98 as of Friday morning. Target got into the act Friday morning, too. All three companies also sweetened the pot by offering free shipping for the DVDs being sold.

New 'Call of Duty' aims for entertainment record

Fri, 06 Nov 2009 22:49 EST

This holiday season's biggest entertainment blockbuster likely will be a sequel to a popular franchise, with jarring depictions of war and an intricate story of good versus evil. It could easily rake in more than last year's record $155 million opening weekend for "The Dark Knight."

But this blockbuster is not a movie.

It is "Call of Duty: Modern Warfare 2," a video game that Activision Blizzard Inc. is releasing Tuesday. Fans worldwide are expected to spend at least half a billion dollars on the game in the first week.

That would at least match last year's "Grand Theft Auto IV," which was the most successful video game release in history and might have been the top entertainment launch ever.

Like the previous five "Call of Duty" games, which are all rated "M" for mature (not for children younger than 17), this one lets players shoot their way through a complex series of scenes. The game's developer, Infinity Ward, spent two years creating realistic graphics that are amplified in many players' homes by big-screen, high-definition TVs and powerful speakers. It's like stepping into a movie.