Famous local businessmen

Jerry Richardson, founder and owner of the Carolina Panthers, and Charles Bradshaw, president and director of Bradshaw Investments in Georgetown, are this year’s inductees into the SC Business Hall of Fame. Richardson and Bradshaw formed Spartan Foods and Hardees. Spartan Foods went public in 1976 on the New York Stock Exchange. The annual banquet is scheduled for May 25. Call Junior Achievement for details.

Baseball wars

While Columbia appears to be locating its new minor– league baseball stadium out on Clemson Road next to a shopping center, Charlotte has two bids to locate a baseball stadium in its urban center. A developer is trying to lure the Florida Marlins to downtown Charlotte with a new 38,000–seat baseball stadium, and the owners of the minor–league Charlotte Knights want to come downtown, too. Charlotte plans to build just one ballpark.

Market share

In 1995, General Motors and Ford together controlled almost 59% of the American automobile market. In 2005, they held a 43% market share, while the combined total market share of Nissan, Honda, Toyota, and Chrysler came to 42%. In pick–up truck market share, GM and Ford together had a 72% hold on American sales in 1995. In 2005, the two had a 69% market share.

Mixed market

GM reported an $8.6 billion loss for 2005. For 2004, GM had a profit of $2.8 billion. Toyota’s fiscal year ends in March, but the profits are expected to be greater than last year’s $11 billion.

Jobless level lower

The US added 193,000 jobs in January, pushing down the national unemployment rate to 4.7%.

Pay level higher

Hourly wages in the US rose 3.3% for the past year.

Inflation follows the good news

Inflation for 2005 averaged 3.39%. And the Federal Reserve follows inflation. The next meeting of the Federal Open Market Committee is set for March 28, and the Fed funds rate is expected to rise another 25 basis points to 4.75%.

Inflation, taxes, and fees figured in

If one dollar were invested in the Standard & Poor’s 500–stock index in 1926, that investment today would come to $2,655.73. But after figuring in inflation, taxes, and fees, that $2,655.73 would be actually worth just $46.59, according to a study by Thornburg Investment Management.

An enviable approval rating

in any country

German Chancellor Angela Merkel reportedly carries an 80% approval rating in the latest opinion polls.

Knight Ridder hits the brakes

Knight Ridder, publisher of The State and another 31 newspapers, postponed its annual shareholders’ meeting. Knight Ridder is for sale, and maybe the publisher will go for more than its market capitalization value of $4.3 million, but there’s little to accomplish with a shareholders’ meeting while the company is still for sale. The annual meeting was scheduled for April 18. Another meeting date will be set upon the announcement of the sale of the company, presumably. 

Wachovia gives $1 million to USC

The Wachovia Foundation contributed $1 million to USC’s Moore School of Business for minority support. The Moore School’s student body is 8.2% African–American and 2.1% Hispanic.

Hedge funds coming out of the closet

Under new rules in effect February 1, 934 hedge–fund advisors have registered with the Securities and Exchange Commission. For the first time prospective investors can see the amount of money under management and the names of funds.

Household net worth

The Federal Reserve said recently the total net worth of US households passed $51 trillion last fall. Net worth is determined by subtracting household liabilities from household assets. At $51 trillion, US household net worth was about 5.65 times disposable personal income.

Port of Charleston

The Charleston port handled almost two million 20–foot equivalent units, up 6% over last year.

New Orleans update

According to a Brown University study, the pre–Katrina population of New Orleans was 484,000. The projected population after the clean–up is 140,000. Maybe 80% of the city’s evacuated blacks won’t return, and almost half of its departed whites are not expected to return. Before the hurricane, New Orleans was 70% black. The city will become majority white.