Briefs

Lexington, Richland County jobless drop In August, the Richland County jobless rate was 7.3%, and it fell to 6.7% in September. Lexington County's was 5.6% in August and 5.3% in September.

Charlotte's Mecklenburg County also lowers jobless rate The unemployment rate in Mecklenburg County lowered to 6.6% in September from the August rate of 7%.

$667 million Santee Cooper has recently offered $667 million in bonds, which is $407 million tax exempt Series A plus $260 million Series B taxable. There is a maturities range from 2010 to 2038. The rating from Fitch Ratings is AA, from Moody's is Aa2, and from Standard & Poor's, AA- . The all-in true interest cost is 6.1449 percent. Lead underwriter was Goldman Sachs & Co. The bonds will be used to help fund capital projects such as transmission upgrades and preparations associated with planned construction of new coal- fired (as in Florence County, near Pamplico) and nuclear (Jenkinsville) power plants. All told, about two million South Carolinians receive their power directly or indirectly from Santee Cooper.

Howard warns of unstable tax revenues Hunter Howard Jr., former CEO of the S.C. Chamber of Commerce, was quoted recently in the Columbia Regional Business Report. He warned of the economic slowdown and its reduction in sales tax collections. As tax revenues depend more on sales taxes and less on property taxes, the revenue stream is expected to become more unstable, said Howard.

Clemson MBA graduates in top 10 According to the Princeton Review, Clemson University MBA students are ranked the seventh- most competitive in the country. The ranking comes from surveys of the students and their perceptions of the competitiveness where they attend business classes.

Greater Columbia Fuel Cell Challenge The S.C. Research Authority (SCRA) is accepting white papers for the Greater Columbia Fuel Cell Challenge 2009. The goal of the Challenge is to support the innovative commercialization of hydrogen and fuel cell technologies, create economic opportunities, and grow alternative energy jobs in the Columbia area. The solicitation launches the third annual installment of the Fuel Cell Challenge with total anticipated funding between $500,000 and $1,000,000. The initial submission requirements include a five-page (or less) white paper. Papers are due by Wednesday, November 5. For information, visit www.fuelcellchallenge.com.

Also, the SCRA is to implement the H-Prize The SCRA is an administrator of the H-Prize, a U.S. Dept. of Energy Hydrogen Program to promote hydrogen energy innovations. The Energy Independence and Security Act of 2007 includes the H-Prize competition, which provides for four $1 million prizes biennially for the winning innovations in hydrogen production, storage, distribution and use.

Natural gas rates go up in N.C. and down in S.C. N.C.-based Piedmont Natural Gas Co. will raise its rates Saturday, Nov. 1, adding about $20 per year to the average residential customer's bill. Meanwhile, here in S.C., SCANA's SCE&G expects to see November residential gas rates drop by 15% compared to November 2007.

Boeing strike hurts Charleston In Nashville, Tenn., the Machinists' strike against Boeing could have a severe impact upon the production of the 787 Dreamliner, to include a temporary 500-worker layoff at Vought Aircraft's North Charleston plant.

Mungo brothers contribute $100,000 Steven and Stewart Mungo of the Mungo Companies presented a check for $100,000 to Harvest Hope Food Bank on Wednesday, Oct. 29. The Mungo brothers committed in September to match every dollar raised (up to $100,000) through October in the Feed Your Neighbor campaign.

Columbia Ready to Rebound Smart Money magazine's November issue has the article, "25 cities ready to rebound," which includes Columbia. Nearby Charlotte and Raleigh, N.C., also made the cut. Smart Money is a monthly magazine from the publishers of The Wall Street Journal.

Metro S.C. foreclosures for the third quarter Charleston led the state with 1,523 foreclosures in Q3 2008. Columbia had 790, and Greenville, 510. On the national scene, still on the way down according to the Urban Land Institute and Pricewaterhouse- Coopers, U.S. financial and real estate markets will hit bottom in 2009 and continue to slump for most of 2010.