New hotel ticketed for Myrtle Beach
MYRTLE BEACH Myrtle Beach is getting its first new hotel since construction abruptly stopped amid the Great Recession. A 14-story Homewood Suites Oceanfront Resort & Conference Center is in the works for the vacant oceanfront spot at 1805 S. Ocean Blvd. on the former site of the Robbie Shyan Motel. The $25 million Homewood hotel aims to open in June 2014. It will be the first new hotel in the city since 2009, when the south tower of the Hampton Inn & Suites opened next door to where the Homewood will be built. Demand for rooms and low interest rates make this the right time to build, said developer Buddy Lindsay.
BP says oil spill settlement will be costly
NEW ORLEANS BP is warning investors that the price tag will be “significantly higher” than it initially estimated for its multibillion-dollar settlement with businesses and residents who claim the 2010 oil spill in the Gulf of Mexico cost them money. The London-based oil giant estimated last year that it would spend roughly $7.8 billion to resolve tens of thousands of claims covered by the settlement agreement. But in a regulatory filing this week, BP PLC said businesses’ claims have been paid at much higher average amounts than it had anticipated. The company also said it can’t reliably estimate how much it will pay for unresolved business claims following a ruling Tuesday by the federal judge supervising the uncapped settlement.
Federal workers, retirees owe $3.5 billion in back taxes
WASHINGTON The Internal Revenue Service says federal workers and retirees owed more than $3.5 billion in back taxes in 2011, a slight increase from the year before. About 312,000 federal workers and retirees had delinquent tax bills as of Sept. 30, 2011. That’s out of 9.8 million workers, for a delinquency rate of 3.2 percent. That’s better than the general public. The IRS says the delinquency rate for the general public was 8.2 percent. The Department of Housing and Urban Development had the highest delinquency rate, at 4.4 percent. The Treasury Department, which includes the IRS, had the lowest, at 1.1 percent. The statistics on federal employees do not include those who are on payment plans.
The (Myrtle Beach) Sun News and The Associated Press contributed.