by John Temple LigonDo office occupancy costs imply vacation costs?

The total annual rent, taxes, and operating expenses for a West End London office come to almost $200 per square foot. In New York City, the costs in office occupancy total just under $60 per square foot. Buenos Aires costs less than half NYC’s $60. If office occupancy in Buenos Aires, one of the world’s most sophisticated cities with one of the world’s greatest opera houses, can cost less than one–sixth the London price, plans for a trip to Argentina should be in the works.

Air South in the chips

The Unclaimed Property section of the SC State Treasurer’s office disclosed recently an Air South asset worth $24,259.80. That’s the amount owed Air South by Automatic Data Processing (400 Covina Blvd., San Dimas, CA). ADP paid $24,259.80 in 2003, and the SC Treasurer is holding the money and looking for a claimant. Also, while they’re at it, Air South can collect from the Unclaimed Property staff $1,020.60 left there by BellSouth in 1997. Since Air South stiffed employees, vendors, contractors et al. for $60 million when it shut down, that $25,280.40 should go to the victims. They get one–twetienth of a penny on the dollar, which is more than what was paid back to the City of Columbia, the County of Richland, the County of Lexington, and the State of SC. If you’re one of the contractors stiffed, call 737.4771 to collect.

KeenanSuggs Insurance expands

KeenanSuggs Insurance announced that Bowers Elkins & Associates, a leading employee benefits firm, will be joining KeenanSuggs Insurance to form a new subsidiary, Keenan Suggs Bowers Elkins, LLC. Combined with KeenanSuggs’ Employee Benefits division, this subsidiary will create one of the largest and most experienced employee benefits firms in SC, as reported by KeenanSuggs.

Haynsworth Sinkler Boyd scores in top ten

In the list of “Top 10 Competitive Bond Counsel” for the first quarter of 2005, Haynsworth Sinkler Boyd, PA ranked ninth among all bond counsel in the US for municipal bond issues handled – the only Southeastern law firm to be listed. The rankings were published in the April 18, 2005 issue of The Bond Buyer, a daily newspaper serving the municipal bond industry. The firm’s rank includes competitively sold bond issues handled by the firm for the period totaling $489,200,000.

SC Bank and Trust

to purchase Devine Mortgage

SC Bank and Trust has agreed to purchase the assets of Devine Mortgage, which was started in Columbia in 2003. Leslie Francis, the managing member of Devine Mortgage, will join SCBT as a mortgage production manager and will manage all aspects of the mortgage lending process for the bank’s Midlands Region.

Leadership applications due June 13

Leadership Columbia is accepting applications for 2005–6. If you want your community to be more than a place where you work and sleep, consider Leadership Columbia. This year’s class will be limited to 60 participants, so act soon. The deadline for applications is June 13. Leadership Columbia is a program that utilizes local leaders in business, government, education, environmental issues, community development, and health and human services share their expertise through lively discussion and activities that highlight real situations, needs, and opportunities within the Riverbanks Region. For information, contact Tara Williams, Greater Columbia Chamber of Commerce, twilliams@columbiachamber.com, 733.1148. Applications are posted online at www.columbiachamber.com.

Needless Markups

Neiman Marcus said Monday it agreed to be taken over by two private equity firms for roughly $5.1 billion, a premium price.

Fuel Cells sell

Don’t miss engenuitySC’s FuelCellSouth 2005 at the SC State Museum. Online registration is available at www.fuelcellsouth.com. The agenda for FuelCellSouth 2005 is as follows:

Tuesday, May 10

8 am to 1 pm: FCS Spring Partners Forum/Luncheon

1 pm to 5 pm: “Creating the Business Case for Fuel Cells and Hydrogen in Your Community”

5 pm to 7 pm: Exhibits Open – Conference Kickoff Program and Sponsors’ Reception

Wednesday, May 11

8 am to noon: Fuel Cell Product & Technology Presentations

Noon to 1 pm: Lunch and Keynote Talk

1 pm to 5 pm: Crystal Flame Innovation Award Finalist Presentations

5 pm to 7 pm: Crystal Flame Innovation Awards and Sponsors’ Reception

Do we get twice the city at twice the price?

The proposed city–developed, city–owned convention center headquarters hotel project, dead on arrival, came in at $240,000 per room, twice market value. The city–built convention center was finished at $262 per square foot, well over twice the costs for the National Advocacy Center on Pendleton Street and more than twice the price of the convention center behind Hampton Automotive. The city housing project embroiled in a lawsuit by the grant–winning development team is going up at $200 per square foot, reportedly, twice the price of construction costs of the typical suburban ranchburger. Now the City of Columbia discloses the costs of its tennis courts on Garners Ferry Road are running above $60,000 per court, twice the $30,000 per court at the Lexington County tennis facility. A hotel, a convention center, a housing development, and a tennis court complex, all cost twice the price. Is Columbia twice as nice? Really?