Charleston MBA

The College of Charleston is seeking a full–time MBA program. The Citadel has one, but it’s part–time with evening classes. Charleston Southern also offers an MBA, but that’s a private school. So the College of Charleston’s MBA will be the only public full–time program in town. The S.C. Commission on Higher Education will consider the program this May. If approved by the CHE, the new MBA program can begin next fall.

Education in money

The S.C. Governor’s School of Science and Mathematics in Hartsville will officially announce its new Economics and Finance Institute at the annual Townes Award Dinner on March 3. The school is a residential program for high school juniors and seniors who are gifted in science or math.

Entertainment brings in money

Greenville’s Peace Center for the Performing Arts recently concluded its three–week, 24–performance schedule of the Broadways show “Wicked.” Almost 48,000 tickets were sold for a total of more than $4 million. A rule of thumb in determining the economic impact in the performing arts is 2.5 times ticket sales, so “Wicked” was good for a $10 million impact. The cast of “Wicked” took a reported 30 rooms for three weeks at Main Street’s Westin Poinsett Hotel. About 53 percent of the 48,000 tickets were sold to people from outside Greenville County, which means they probably stayed in local hotels and filled Main Street restaurants.

Cigarette tax increase

According to a national report released this month by a coalition of public health organizations, raising S.C.’s cigarette tax by $1 would generate $209.4 million in new annual revenue. The state’s current cigarette tax of seven cents per pack is the nation’s lowest. The national average cigarette tax is $1.34.

First firm

Columbia’s new business incubator, the South Carolina Research Authority–USC Innovation Center, has its first tenant lined up. Greenville–based Immedion will build its 5,000–sq.–ft. data center inside the SCRA–USC 73,000–sq.–ft. warehouse at the corner of Assembly and Catawba. Construction on the SCRA incubator began on February 12. The architect is the Garvin Design Group, and the contractor, Mashburn Construction, both of Columbia. The Immedion space will have 15 employees.

Hospital food? Really?

The Midlands Chapter of the American Culinary Federation has recognized Lexington Medical Center’s executive chef Jim Lassiter as its Chef of the Year. Lassiter is responsible for food preparation and service for the LMC’s Sunset Café, Park Café, Doctors’ Lounge, Child Development Center, and all inpatient meals and hospital catering.

and hospital catering. Record applications

Furman University is having another record year for freshman applications. As of Friday, February 12, Furman had received 4,607 applications for the 720 incoming slots along with 30 transfers.

It ain’t pretty, but it’s profitable

Advance America, the Spartanburg–based payday lender, reported its net income for the year ended December 31 rose 40 percent to $54.2 million from last year’s $38.5 million. But revenue for 2009, $647.7 million, was actually four percent less than in 2008, $676.4 million. Founded in 1997, the company has an operating network of 2,587 centers and 71 limited licensees in 32 states, the UK and Canada. The company exited Arkansas and New Mexico in 2008. It stopped making advances in New Hampshire in January 2009. For the year 2009, Advance America closed 220 centers in 27 states and the UK. Plans for 2010 include closing another 100 centers, including 58 of its 139 centers in Virginia. Pending inside the S.C. State Senate is a restrictive payday lending bill, and by all accounts it’s likely to pass.

Dunkin’ Donuts on Main Street won’t open

The interior renovation construction project in the 1200 block of Main Street, where the sign used to say Dunkin’ Donuts, will never be completed as a Dunkin’ Donuts shop, as announced Tuesday, February 16. Kainos Partners of Greer was the franchisee that planned to open the Main Street Dunkin’ Donuts. In 2007, Kainos declared plans to open 31 Dunkin’ Donuts in greater Columbia by 2012. Kainos filed for bankruptcy protection last July.

They’re No. 1

Columbia–based law firm Haynsworth Sinkler Boyd’s Public Finance Practice Group is ranked first among bond counsel in South Carolina for 2009, according to The Bond Buyer (February 11, 2010 issue). For 2009, Haynsworth Sinkler Boyd served as bond counsel for over $1.5 billion of bond sales in South Carolina.