Joblessness S.C.'s jobless rate, 7.6 percent, hit a 15- year high in August compared to the same period last year. Four states had higher unemployment: Mississippi and California, 7.7 percent; Rhode Island, 8.5 percent; Michigan, 8.9 percent. S.C. has lost 50,000 jobs since April. The unemployment rate in Charlotte's Mecklenburg County rose to 7 percent in August from 6.7 percent in July. N.C.'s statewide jobless rate in August was 6.9 percent.

Pension fund S.C.'s $29 billion retirement fund lost 2.6 percent on its investments over 2007. Since January, losses were 4.2 percent during the first quarter.

Gross domestic product According to the U.S. Bureau of Economic Analysis, the Columbia area's gross domestic product grew by 3.7 percent from 2005 to 2006, to $24.6 billion all told, which was the country's 120th fastest growing urban area GDP. Charleston's GDP for the same time period was $20.7 billion; Greenville's, $20.5 billion. Raleigh, N.C.'s state capital and home to N.C. State University, had a GDP of $42.5 billion.

Wachovia, walk over ya, watch over ya Charlotte- based Wachovia, which had a share value of more than $50 a year ago, saw its stock price drop more than 80 percent Monday, Sept. 29, to $1.80. Wachovia is being taken over by Citigroup, which planned to pay $1 a share. Informed sources in Charlotte expect the takeover by Citi to result in the loss of 3,000 Wachovia jobs in Charlotte. Wachovia bought South Carolina National, S.C.'s largest statewide bank at the time, in 1991. Wachovia gave the SCN shareholders 67.5 shares of Wachovia stock for every 100 shares they owned of SCN.

Columbia home sales Compared to August 2007, sales of new and existing homes in Columbia fell 29 percent in August 2008. For the same time period, Charlotte home sales fell 34 percent. Bonds, A+ bonds SCANA, Columbia's state- regulated shareholder- owned utility, released $250 million of 10- year bonds recently, and the market reception was so positive, SCANA offered another $50 million in a sale completed in the last week of September. SCANA scored a 6.5% interest rate, while industry insiders were ready for higher rates. SCANA's low interest was due to a Fitch Ratings assignment of A+ to the SCANA bonds. Under rate adjustments approved by the S.C. Public Service Commission, SCANA can sell its electricity at a low cost per kilowatt hour directly related to the low cost of borrowing money, such as the low interest rate in its bonds.

Fond Folly memories on hold The Holiday Inn at Folly Beach, the town's largest hotel, will close this winter for renovations. The 132- room hotel opened in 1985.

Transit The Charlotte Area Transit System reports overall August ridership at 2.34 million passengers taking a one- way trip. Annualized, CATS has a yearly ridership of more than 28 million, while Columbia's CMRTA system has an annual ridership of about 2.5 million, less than 10 percent of Charlotte's. Charlotte is building a light rail transit system to augment an adequate bus network, while Columbia has no plans for a light rail system to augment its inadequate bus network.

Speaking of transit reporting... ...in a new business publication for Columbia, the "CMRTA ridership in the second quarter" was counted as "5800." Well, 5800 what? When, exactly? Also, the SCANA subsidy of $73 million - what is actually the total SCANA payoff, including real estate, since 2002 when Mayor Coble negotiated to get his law firm's former client SCANA out of the bus business - was called, "The $73 million that SCANA pays the city each year to operate the system." That's OK. The State never gets it, either.