Merrill Lynch stays put

Stock brokers and financial consultants of Merrill Lynch at 1224 Sumter Street plan to stay in their 23,000 sq. ft. commercial office space for another five years. Henry Roe of Colliers Keenan brokered the deal for Merrill Lynch with the owners of the Keenan Building. Roe said, “Extremely competitive rental rates, prominent building signage, and close proximity to the State Capitol complex and private dining clubs were key factors that persuaded Merrill Lynch to remain in their current location.”

Tough times in Charlotte reading circles

Due to a $2 million drop in funding from Mecklenburg County, the Charlotte Mecklenburg Library has to cut its budget by another $2 million before June 30, 2010. To meet that schedule, the library needs to lay off more than 140 employees and close at least 12 library locations. There have already been reductions of $4 million in county funds since January 2009.

Tough times in points north, Part II

Charlotte–area unemployment grew to 12.8 percent in January, the highest for the past 20 years, according to the N.C. Employment Security Commission. Charlotte lost 30,600 private–sector jobs from January 2009 to January 2010. Statewide, N.C. unemployment was 11.5 percent.

Sonoco fit

In its annual report to stockholders, Hartsville–based Sonoco claims to be financially fit, the fittest in its history. Harris E. DeLoach Jr., chairman and CEO, said in his letter to stockholders, “Clearly, 2009 was one of the most difficult and, yet, one of the most rewarding years for Sonoco... By proactively managing the guts of our business, we significantly reduced costs, achieved record productivity and improved annual gross margins to the highest level since 2007.” Sonoco will hold its annual meeting at 11 am, April 21 at downtown Hartsville’s Center Theater, 212 N. Fifth Street. Meanwhile, Sonoco is spending $2.6 million to transition its Charlotte recycling center into a full–scale material recovery facility by early summer. Two other similar Sonoco facilities in the Southeast are located in Raleigh and Columbia.

Job hunting

According to The State newspaper, the greatest gains in jobs from 2008 through 2016 will occur in health care/social assistance/aging (5.7 percent total gain in jobs), construction (14.1 percent), professional (16.8 percent), waste management and remediation (11.2 percent), and educational services (6 percent).

No. 1

Agribusiness is South Carolina’s No. 1 industry, generating $34 billion a year and creating a total output of $140 billion for the state’s economy, which is about a fourth of the state’s GDP.

Weight loss experience

The cruise ship Celebrity Mercury recently carried passengers from Charleston on three consecutive trips, and each trip was plagued with the norovirus, a bug with symptoms such as diarrhea and vomiting. On the cruise returning to Charleston on Thursday, March 18, 369 of 1,829 passengers became sick. The ship also experienced outbreaks of norovirus on cruises February 15–26 and February 26–March 8. The Center for Disease Control and Celebrity officials settled on a 72–hour cleaning delay before the next cruise departure from Charleston.

Here’s hoping

In last year’s American Recovery and Reinvestment Act, national funding for $300 million in rebates was included to provide discounts for consumers who buy certain Energy Star appliances. S.C. is in line for $3.9 million. Half of the $3.9 million is dedicated for wholehouse appliances such as heat pumps, furnaces, central air conditioning, and water heaters. The other half goes to white goods such as refrigerators, dishwashers, and washing machines. The rebate program begins March 31, and contractors are hopeful big–ticket appliances will move like automobiles did last year under stimulus rebates. Rebates run from $50 to $500, which are based on the cost difference between a standard appliance and an Energy Star appliance.

Port picks up

The S.C. State Ports Authority had a seven percent increase in container volume in February over the same month last year. January also had improved port volume statistics.

Tasteful town

The City of Columbia’s water won 1st place in a taste test held Sunday, March 14, at the S.C. Environmental Conference. No. 2 was Greenwood, and No. 3, Camden.