Local & State
Myrtle Beach skywalk nixed
Developers who spent the past several months defending their plan to construct an elevated skywalk across Ocean Boulevard in Myrtle Beach have abandoned that idea. Virginia-based Buchanan Motels LLC still plans to build a resort with a water park and parking garage, but the skywalk won’t be part of the new plan. Bob Singleton, vice president with Buchanan Motels, did not respond to questions about why the skywalk was nixed.
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Nation & World
Honda fined $70 million
The Obama administration said Thursday it is fining Honda $70 million – the largest civil penalty levied against an automaker – for not reporting to regulators some 1,729 complaints that its vehicles caused deaths and injuries, and for not reporting warranty claims. The Japanese automaker acknowledged in November that it failed to report the death and injury complaints to the National Highway Traffic Safety Administration over an 11-year period beginning in 2003. The company admitted it learned of the omissions in 2011 but waited three years to take action.
Borrowing increases in U.S.
U.S. consumers increased their borrowing in November, as stronger demand for auto and student loans offset a drop in credit card debt. The Federal Reserve said Thursday that consumer borrowing rose by $14.1 billion following a $16 billion increase in October. The gains have pushed consumer debt excluding real estate loans to a record level of $3.3 trillion.
Americans’ confidence rises
Americans’ confidence rose last week to the highest level in more than seven years, bolstered by persistent declines in gasoline prices and a steadily improving job market. The Bloomberg Consumer Comfort Index increased to 43.6 in the week ended Jan. 4 from 42.7 the period before. The advance was led by rosier views of the economy and personal finances.
Boeing Jr. dies at age 92
William E. Boeing Jr., a son of aerospace pioneer William Boeing Sr. who championed and remained fascinated by flight throughout his life, has died at age 92. He died Wednesday night at his home in Seattle, said Mike Bush, a spokesman for The Museum of Flight, which Boeing Jr. helped create. The cause was not immediately known. Boeing’s career was in commercial real estate, but he was a champion of aerospace education.
Coca-Cola plans to cut jobs
Coca-Cola says it will cut between 1,600 and 1,800 jobs in coming months to trim costs. The world’s biggest beverage maker says it began notifying workers in the U.S. and some international locations Thursday. It said job types are across all parts of its business and include about 500 cuts at its Atlanta headquarters. The company, which makes Sprite, Powerade, Vitaminwater and other drinks, has about 130,600 employees around the world, according to FactSet.
The (Myrtle Beach) Sun News, The Associated Press, Bloomberg News and The Atlanta Journal-Constitution contributed.