Monday, Feb. 02, 2009

Bioetch firm moving to Columbia; Area home sales slide

Business news from around the Midlands in recent weeks:

JOBS

Bridge to Life Ltd. will move its headquarters to Columbia: The suburban Chicago medical biotechnology company will create up to 70 jobs and invest $45 million. Bridge to Life plans to begin selling two federally approved products for storing and shipping human donor organs from a temporary space on Laurel Street.

UPS will shut down Columbia operation to sort overnight packages: About 250 part-time workers will have to find other positions in the company in mid-February, a UPS spokesman said. More customers choosing less costly multiday deliveries led to the shutdown of the “next-day sort” at the regional hub at Columbia Metropolitan Airport. The Atlanta-based shipper also will drop three of its 10 daily flights out of Columbia.

Bose’s Blythewood plant “will be impacted” by job cuts: But a spokesman for the speaker maker would not disclose details as it announced it would trim 1,000 jobs company-wide.

HOUSING

Columbia-area home sales dropped 23 percent in 2008: It was the second straight year Midlands sales had fallen. Median price rose about $1,000 to $146,000 last year, according to the Consolidated Multiple Listing Service. The downtown-Forest Acres area saw the smallest decline in sales and the biggest jump in prices. Sales took the biggest hit in Lexington and Irmo.

Jim Walter Homes closed all its offices: That included one in Cayce. The Tampa, Fla.-based site-built and modular-home business blamed the slumping economy. Sales ceased immediately, but the company planned to finish homes under construction.

DEVELOPMENT

Columbia developer moving forward with Northeast Richland office park: Groundbreaking at the 11-acre Sandhills Professional Center, along Clemson Road near Earth Road, is expected in the spring, project developer Forum Development said.

Lincoln Street parking garage in the Vista opened: The $10.6 million, 675-space garage is expected not only to boost crowded Vista bars and restaurants, but also to help efforts to spur retail in the district. Columbia’s design review board has approved a four-story retail and office building planned to front the garage on Lady Street.

Light industrial park planned for Lower Richland: Shop Grove Commerce Park is a 132-acre bow-tie-shaped tract that runs off Shop Road just east of Interstate 77. No tenants have been named.

Brokers for State Hospital property on Bull Street launched Web site: Redevelopment of the 181-acre tract and its historic buildings is considered a major engine for downtown’s continued growth. NAI Avant, which was chosen to sell the property for the S.C. Mental Health Commission, launched www.naiavantbullstreet.com.

LAW

Nexsen Pruet merged with N.C. law firm: The Columbia firm merged with Sanford Holshouser, a 43-year-old Raleigh firm that bears the name of two North Carolina governors — Terry Sanford and James Holshouser. The union gives Nexsen Pruet a permanent beachhead in the Triangle, where it will focus on health care, real estate and economic development issues.

Nelson Mullins Riley & Scarborough opened first Florida office: The Columbia law firm acquired the Tallahassee office of a Sutherland, Asbill and Brennan that represents automobile manufacturers. Nelson Mullins has office in 11 cities.

BANKING

SCBT received $64.8 million from federal bailout: Columbia-based parent of S.C. Bank and Trust plans to use the proceeds to fund mortgages and student loans. Parent of Congaree State Bank of Cayce received $3.3 million in bailout funds.

HEALTH/INSURANCE

Palmetto GBA won $300 million contract: The Columbia-based subsidiary of BlueCross BlueShield of South Carolina was selected to administer Medicare claims in South Carolina, North Carolina, Virginia and West Virginia. Palmetto GBA expects to use 600 employees from its current staff of 2,000 to handle work on the new contract.

Palmetto Health appealed decision that would jeopardize Irmo hospital: The Columbia hospital planned to transfer its certificate-of-need license for 76 beds to its Parkridge campus from Palmetto Health Baptist. The move was approved by the state Department of Health and Environmental Control, but an administrative law judge overturned the decision after challenges by Lexington Medical Center and Newberry Memorial Hospital.

BlueCross BlueShield of South Carolina opened its first retail store: In an effort to meet with clients face-to-face, Columbia-based insurer allows customers to sign up for new policies or get help with existing accounts at the SC BlueStore in Mount Pleasant.

Palmetto Health, Greenville Hospital System to run Palmetto Health Baptist Easley jointly: GHS will pay Columbia-based Palmetto Health $45 million for a 50 percent interest in the 109-bed hospital. GHS also has agreed to give as much as $5 million to Baptist’s foundation. A new board of directors will include four members chosen by GHS and four by Baptist Easley.

SMALL BUSINESS

S.C. director named for small-business group: J.J. Darby, owner of the Columbia government relations firm Tallon Darby Communications, became state director for the National Federation of Independent Business. He succeeds Wendy Homeyer in representing the small-business trade group in South Carolina. Homeyer is leaving to run a business.

ETC.

Columbia City Council considering a ban on all inflatable business signs: Getting rid of inflatable gorillas, corporate mascots and arm-flailing tube men is among recommendations to improve the city’s image, along with cracking down on absentee landlords, putting the lid on garbage roll cart scofflaws and getting RVs out of front yards.

Burnlounge lawsuit in the hands of judge: A decision is expected soon in the suit brought by the Federal Trade Commission that alleges former USC football star Rob DeBoer and others were involved in the pyramid scheme that sold online music stores. DeBoer, who federal officials say was Burnlounge’s top recruiter, has denied any wrongdoing.

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