IT-oLogy hosting Gartner for Big Data Conference
Columbia-based IT-oLogy, a group formed to promote information technology, will host Gartner, one of the world’s leading information technology research and advisory companies, for its upcoming Big Data Conference. The conference will be held 9 a.m. to 5 p.m. Sept. 12 at the IT-oLogy building at 1301 Gervais St. The event is tailored toward bringing key leaders and executives together to network, build intellectual capacity and connect to emerging technology topics. Attendees at the limited-seating event will have the opportunity to request one-on-one sessions with Gartner’s leading analyst and network with colleagues and executives from the Midlands region. Registration is free at bigdataconference.eventbrite.com.
Old Charleston Naval Hospital going on auction block
The old Charleston Naval Hospital that once served tens of thousands of military patients is being auctioned by the federal government. The Post and Courier of Charleston reports the building in North Charleston closed in 2010. The General Services Administration is opening an online auction for bidders for the property next month. The high bidder will get title to the 368,000-square-foot main building, 24 acres of land, a former enlisted quarters building and parking for about 900 vehicles. The bidding opens at $100,000. The Charleston Naval Base was closed almost 20 years ago during a round of military base closings.
Citigroup to pay $590 million to settle financial crisis claims
Citigroup has agreed to pay $590 million to settle legal claims by shareholders that its executives misled them about the bank’s growing problems before the financial crisis. The bank denied the allegations Wednesday, but said it agreed to the deal to eliminate the cost and uncertainty of litigating the class-action suit. Plaintiffs say Citigroup executives kept mum between February 2007 and April 2008 about huge losses the bank faced on complex mortgage investments. When the problem was disclosed, they say, Citigroup’s share price plunged. They blame the bank for their losses. The case, filed in late 2007, was one of the first major lawsuits related to the toxic investments that fueled the financial crisis in 2008. It’s also among the biggest proposed settlements of any crisis-related case.