by John Temple Ligon   Too many newspapers and too few shareholders The McClatchy Company, owner of The State and The Charlotte Observer and 28 other dailies in the U.S., reached an agreement recently with its lenders to prevent a technical default. The new agreement to pay higher interest rates and to put up more collateral reflects sustained reductions in revenue. There was a McClatchy third- quarter- earnings conference call scheduled for Tuesday, Oct. 21, at noon. A share of McClatchy stock was worth $3.25 at the opening bell on Oct. 21. In May 2005, a McClatchy share was worth more than $70. At a recent panel discussion at the Summit Club with two McClatchy employees on the panel, both denied owning any company stock. Neither knew the price.

A profound shift Columnist Christopher Buckley, son of the late William F. Buckley Jr., resigned recently from The National Review, the conservative magazine founded by his father in 1955. Christopher Buckley's paternal grandmother lived in Camden. His uncle Reid Buckley still does. Christopher Buckley's occasion to leave The National Reviewwas his endorsement of Democratic presidential candidate Barack Obama.

This week at the State House The mid-week of Oct. 21- 23 was scheduled for votes by S.C. lawmakers on a revised budget plan, reduced because of falling projected revenues. Last week, a draft plan to cut $488 million was agreed upon. On Tuesday, Oct. 21, the House passed the budget cuts. Layoffs among state workers are expected.

Speaking of layoffs By the end of this year, after the plant shuts down for the year on Dec. 19, as many as 733 workers at the Greer, S.C., BMW plant could be laid off.

SCANA The state's Office of Regulatory Staff said it would recommend approval of the SCANA/SCE&G/Santee Cooper application to build two new nuclear power plants at its Jenkinsville site, already home to a nuclear power plant. The two new plants are expected to cost $10 billion. The Public Service Commission has scheduled hearings on the application starting Dec.1. If state and federal approvals come across as anticipated, the first reactor should be in operation in 2016.

Help is on the way The S.C. State Housing Finance and Development Authority reported earlier this month there was a $44 million infusion expected from the U.S. Housing and Urban Development (HUD) Neighborhood Stabilization Program. After public comments are solicited this November, the funding will be provided as part of a national $3.92 billion program under the 2008 Housing and Economic Recovery Act of 2008.

Sweet tea vodka going national Kentucky-based Buffalo Trace distillery has begun producing S.C.'s Firefly Sweet Tea Vodka. Firefly Vodka, which began production in April on Wadmalaw Island, S.C. is available in 11 states, and production in Kentucky is expected to allow for further expansion of Firefly's market. Firefly has another distillery in Florida, which is to continue production. The company says it wants to transfer all production to S.C. once it gets a grip on the vodka's total demand.

Manufacturing The manufacturing sector in the S.C. economy lost 2% of its jobs over the past year. The 2009 S.C. Manufacturers Register reported S.C. lost almost 6,000 industrial jobs from August 2007 to August 2008. S.C. had 5,465 manufacturers and 296,069 manufacturing workers.

More jobless N.C.'s jobless rate for Sept. was 7%, and S.C.'s was 7.3%. In Allendale County, the highest jobless rate in S.C., it was 16.9%. In Lexington County, the lowest, it was 5.3%.

Switch to switchgrass Columbia-based East Coast Ethanol is about to begin construction on an ethanol plant in Chester County, leaving enough land area on its 319- acre site to build a second ethanol plant. The first plant will make ethanol from corn, while the second is expected to use switchgrass and other crops. Profitability in the second plant, the switchgrass operation, is still in question. As well as Chester, the company plans to build ethanol plants in Florida, Georgia, and North Carolina, and all the plants should ship 440 millions of gallons annually.

Planning The new Savannah River shipping terminal in Jasper County has recently seen $6 million of its planning expenses split equally by S.C. and Ga. The S.C. State Ports Authority agreed Tuesday morning, Oct. 21, to kick in its $3 million for planning the terminal, and Ga. is expected to do the same.