Gas taxes and gas prices

North Carolina's gas tax is $0.299 a gallon, the nation's sixth highest, and is to stay there for another year. Next year, however, state officials suggest it could rise by more than a penny if gas prices remain higher than last year's levels and if the legislature does not cap the tax. South Carolina has a gas tax almost $0.14 lower than North Carolina, and South Carolina has the nation's lowest state average regular gas price at $2.69 a gallon. Governor Sanford's proposed three-month state gas-tax holiday failed with the legislature. The national average price for regular gasoline is $2.90 a gallon.

Biodiesel

Hundreds of Charleston-area restaurants will soon sell waste vegetable oil to nearby Southeast Biodiesel where the vegetable oil will be converted into fuel to power diesel cars and school buses. Waste vegetable oil must have its water taken out to make biodiesel. The retail price should run about a dollar a gallon.

Golf money for charity

Last week, the Bi-Lo Charity Classic golf tournament raised $5.5 million for hundreds of charities in North and South Carolina, Georgia, and Tennessee. When the tournament began 23 years ago, it raised $30,000. The largest one-day golf event in the country, the tournament attracted 1,450 amateur golfers to 12 courses.

Student loans interest rates to go up

On July 1, the Federal Stafford student loans will go up 1.84 percentage points to 6.54% for students in school. For graduates repaying loans, the rate will jump from 5.3% to 7.14%, also on July 1.

Jobs

A poll conducted by Manpower Inc. revealed recently 43% of Columbia-area businesses plan to hire more people between July 1 and September 30. Statewide unemployment dropped in May to 6.5%, the nation's third highest jobless rate. The national unemployment rate in May was 4.6%.

At Vought, it's official

In the first week of June, Vought Aircraft's 342,000-square-foot plant at Charleston International Airport officially opened with plans to hire 375 people over the next five years. Another plant nearby, a joint venture between Vought and Alenia Aeronautica, is scheduled to open later this year. The complex will be making the aft fuselage for the Boeing 787, the Dreamliner. Columbia PR executive Clare Morris managed the opening.

Automobile manufacturing picks up

in the South

This spring, Kia Motors announced plans to build a $1.2 billion plant in West Point, Ga. Last year Hyundai Motors built a plant 85 miles away in Montgomery, Ala. Toyota is building a Tundra pick-up plant in San Antonio to employ 2,000 workers. Point being, expecting another plant in South Carolina is not unrealistic.

Denny's

Spartanburg-based Denny's Corp. was selected to the 2006 Black Enterprise 40 Best Companies for Diversity, the publication announced last week. Denny's was declared the Most Improved Company.

Another $1 billion for DOT

To avoid scaling back maintenance and road construction, the state department of transportation needs an additional $1 billion in its annual budget. According to department officials, the current $500 million budget is inadequate to keep pace with construction demands.

Be like Mike

Former NBA superstar Michael Jordan recently bought into the Charlotte Bobcats, the two-year-old NBA franchise. Jordan will oversee the player-personnel operation. Jordan's investment for a minority stake was estimated to be between $10 million and $20 million.

USCgradleadsUnited

United Airlines CEO Glenn Tilton, a USC graduate, plans to eliminate at least 1,000 salaried and management jobs by December. By then, the company hopes to manage $400 million in cost reductions. United surfaced this year from a three-year bankruptcy restructuring. The company, which serves Columbia, has a work force of 57,000.

Energy rates

A slight increase in natural gas rates at SCANA is expected by the November billing cycle. The targeted return on common equity is 10.25%, and a hike in natural gas rates is needed to meet the target. Progress Energy, based in Raleigh, has experienced a South Carolina approval for a hike in electric power rates. Duke Energy, on the other hand, is reducing electric power rates.

A South Carolina first

EngenuitySC and USC are sharing a $400,000 federal grant to conduct fuel cell research in a highly specialized laboratory in the Innovista. Nearby is planned a hydrogen refueling station to service the first fuel cell cars. Negotiations with companies involved with the refueling station and the dependent cars have been running for about five months, and agreements announcements are expected soon.