Posted on Tue, Aug. 26, 2003


PSC to hold forum on electrical grid



In response to the northeast blackout, the S.C. Public Service Commission will host a forum Sept. 3 to gather information about the status of the electric transmission grid that serves South Carolina.

The forum begins at 2:30 p.m. in the commission's hearing room at 101 Executive Center Drive in Columbia.

Representatives from the utilities, consumer groups and the public are encouraged to attend.

• Georgia to Daimler: Make up your mind

ATLANTA - Georgia wants DaimlerChrysler to decide whether it will build its van plant in Savannah.

The state already has spent $60 million to prepare land where the company may build a $754 million plant for the Sprinter van. The company last year turned down a site outside Charleston, but last month cited weak demand for the van when it put off a decision about building any plant in the United States.

Georgia's Department of Industry, Trade and Tourism wrote the company last week, saying it will look for another use for the land if the company doesn't made a final decision, The Atlanta Journal-Constitution said.

Georgia has offered $320 million in state and local financial incentives. for the 3,000-worker plant.

• First South Bancorp withdraws stock sale

SPARTANBURG - First South Bancorp has decided against a public stock offering, the company said Monday in filings with the Securities and Exchange Commission.

The company, which has a branch in Columbia, said it may sell stock privately.

First South planned to sell 250,000 shares in hopes of raising $7.5 million.

In other business news:

• Choice Apparel, a Columbia apparel distribution firm, has signed a deal to outsource its information technology functions to Matrix Consulting LLC of Columbia.

• Coastal Financial Corp. of Myrtle Beach ranked tops in U.S. Banker Magazine's list of community banks in the Carolinas. It ranked 39th nationally in return on average equity. Its stock closed Monday at $15.40, up 75 cents.

• Tom Appleton has been named new president and chief operating officer of Piaggio America Inc., the Greenville subsidiary of an Italian maker of business aircraft.

• John Moore has been promoted to interim president of the Greenville Chamber of Commerce. He has been vice president of economic development for the chamber.

• The South Financial Group, the state's largest bank-holding company, has federal approval to buy MountainBank Financial Corp. of Hendersonville, N.C. The Federal Reserve Bank's decision came Aug. 7, according to a Monday filing with the Securities and Exchange Commission.

From Staff and Wire Reports





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