Business Briefs

By John Temple Ligon

Become a city arbiter of taste

The City of Columbia is accepting applications to fill two vacancies on the Design Development Review Commission (DDRC). One position is held for a registered architect and another most anybody. All applicants must reside within the Columbia city limits. The term is three years with the possibility of one reappointment. You get to reel in horror at the sight of some really bad work, and you get to embrace and support something truly worthwhile. Some of these incumbents don’t know the difference, so give them and your city a hand. For applications contact the Office of the City Clerk, 545.3045.

Michigan moves ahead in alternative energy

Here at the World Headquarters for Hydrogen Research (at least according to President Sorensen and Mayor Coble), we read where Michigan’s governor wants to sell $2 billion in bonds to invest in research in areas such as alternative energy sources to help diversify away for the flagging automotive sector and to create jobs. Michigan, home of Motown (Detroit), is proud of its great–looking and innovation–searching governor, who is a notorious fiscal conservative. However, $2 billion for energy research, she thinks, is not spending. It’s investing. We should try for the same.

Speaking of investing in

innovation

EBay, the online marketplace, announced last week it is investing $100 million in its Chinese operations. EBay executives say China is forecast to become the world’s biggest e–commerce market. By 2009, China’s online population is projected to exceed that of the US. EBay took control of EachNet, its Shanghai–based subsidiary, last year for $150 million.

Hiring weak.

Market moves up.

With the investor’s mindset, bad news is good news. With only 146,000 jobs created in January, the US actually appears more positive to an investor because inflation is less threatening. The expectation for January was 200,000 new jobs and the actual number was 54,000 jobs less. Bonds soared on the report because new issues should have lower rates. Gross domestic product growth in the US for the next year appears to be coming in at 3.4%, a whole one–point drop from last year’s 4.4%. On the SC scene, just three years ago we had 100,000 jobs in textiles, and two years later we had 72,000. The numbers for last year aren’t in yet, but a 10% drop is expected at the least.

Overall, surprisingly enough, US manufacturing is growing, as is construction spending

For 20 straight months till now manufacturing in the US expanded. Also, total construction spending rose 1.1% in December, seasonally adjusting the annual rate to $1.032 trillion. Out of that private residential spending was at $568 billion, and public construction spending hit $243 billion. You’re in construction? Don’t complain to anyone.

Schwab cuts online

commissions. Squab prices fall at Goatfeathers.

Last week at the bar in Goatfeathers on Devine Street, a pigeon perched over the specials chalkboard. The suggestion to the tall bartender was to chalk in some local share prices as the pigeon perched, something like the chalkboard 100 years ago inside the stock exchange.The pigeon was appropriately named Charles Squab.

Mullins and Marion upbeat. Durham and Richmond

stay open late.

A federal appeals court recently rejected a $280 billion claim made by the US government as part of a racketeering case against the tobacco industry. Tobacco company shares were boosted by the news. A 5% gain in the day of the news was typical. The decision leaves only non–money remedies such as restricted advertising and marketing. The whole thing may go to the US Supreme Court. In the meantime, Darlington County has more to talk about than the shape of the track.

Columbia goes Hollywood

Hollywood, SC, is trying to change its form of city government. Town council members who have consistently been at odds with Mayor Gerald Schuster are pushing to reduce the mayor’s position to that of just another member of council. Sounds like Hollywood is jealous of Columbia and its form of government, while Columbia is jealous of Hollywood and its form of government. What do these people want?

Europeans beat us once in a while in basketball, but now it’s corporate tax rates

In the US corporate tax rates are about 40% when state taxes are included. In Germany, where they have a record 11% unemployment, they have slashed corporate taxes from 56% to 38.3% last year. Ireland, an economic miracle over the last 20 years, has corporate tax rates of 12.5%. Again, we’re 40% and they’re 12.5%. Where would you set up shop?