Area unemployment

Around the Carolinas and Georgia, South Carolina has it the worst at 11.5 percent unemployment. In the middle range is North Carolina at 10.8 percent, and Georgia has the least unemployment at 9.3 percent. Since South Carolina began keeping such records in 1975, 11.5 percent is the state's all- time high for unemployment. April marks the seventh consecutive month in which North Carolina eliminated more jobs than the state created. The national jobless rate for April was 8.9 percent. Word comes from the Federal Reserve national unemployment is likely to hit 10 percent as its peak for the current recession.

Top ten for relocation and a fresh start

Relocation.com, the online moving service company, has created a list of the best 10 American cities to start over and seek out new economic opportunities. The firm used the following criteria to create its list: city popularity based on consumer requests for moving quotes to move to that city; economic growth prospects; home affordability; and the strength of the community reflected in volunteerism rates. The top city was Austin, Tex., followed by Dallas, Tex.; Charlotte, N.C.; Denver, Colo.; Columbus, Ohio; Indianapolis, Ind.; Washington, D.C.; Atlanta, Ga.; Oklahoma City, Okla.; and Houston, Tex.

Housing starts

According to the U.S. Commerce Dept., housing starts nationwide fell 13 percent in April, and permits for future construction also fell.

Tough times in Charlotte cultural offerings

Charlotte's Arts & Science Council reduced its support of the Charlotte Symphony Orchestra to $900,000 for its next fiscal year, down from $1.9 million this year. The Charlotte Symphony Orchestra is 77 years old and recently cut four jobs. It expects to take wage concessions from its musicians.

Horses

The Triangle Business Journal asked its central North Carolina readers, "Should wagering on horse racing be legal in North Carolina?" Of the 332 votes responding in the poll, 77 percent said horse racing and betting should be allowed in North Carolina. No such poll has been reported recently in South Carolina.

Shareholders and employees get a John Deere letter

Deere & Co. last week (Wednesday, May 20) reported lower profit and revenue for its second quarter. Revenue dropped to $6.75 billion, down 17 percent. Deere employs about 1,000 people in Wake County, N.C.

Good news at McClatchy

The McClatchy Co. — newspaper publishers for The

State, The Sun News, and The Charlotte Observer, among many others across the country — has recently restructured $1.15 billion in debt and amended its credit agreement. About this time in 2004, a share of McClatchy stock was worth more than $70, and this past February the stock wasn't even worth $0.50. After announcing its debt restructuring, however, the stock rose to $1.24 on Wednesday, May 27. The company is experimenting with paying advertising sales commissions, something similar to what has long been the case with broadcasters and other media.

The future for GPS

The Global Positioning System, according to the Government Accountability Office, may not be able to prevent service problems in the near future. Many of its satellites will age and fail over the next few years. Meanwhile, the latest GPS satellite program, block IIF, is over budget by about $870 million and is past due by three years. There are about 30 GPS satellites in orbit, many launched more than 10 years ago, and as they begin to fail in the coming year, standards will fall. The lack of a single authority responsible for GPS is a major problem, and the GAO recommends the Dept. of Defense appoint a single authority to oversee and manage GPS on the ground and in space.

A good idea for South Carolina

During the last week of May this year, Atlanta companies looking to do business in China were getting a crash course on everything from legal issues to protocol. There was an 11- hour China Boot Camp at the City Club of Buckhead. Seven speakers and panelists shared their views on understanding China's business environment as part of the larger context of China's society and culture, to include case studies on American success stories in China.

Fun stuff

Celebrity Cruises has announced new sailings to the Caribbean from the Port of Charleston. Starting in February 2010, Celebrity Cruises is offering a series of six 10- night and 11- night embarkations from Charleston to the Caribbean aboard the 1,898- guest Celebrity Mercury.