Bose to cut 160 jobs at Blythewood plant

Bose Corp. will lay off about 160 workers at its 700-employee Blythewood plant around March 26, according to the S.C. Employment Security Commission.

Bose cut about 250 jobs in the past year at the plant, and said Feb. 18 it would cut an unspecified number of additional jobs as it moves some sound system production to Mexico.

It also plans to move a 70-employee remanufacturing and customer service operation from Hillsdale, Mich., to Columbia by July, but Michigan officials are contesting the move.

• USC student business incubator gains firms

Seven USC students will develop six new businesses at the university’s Student Business Incubator Center. They include:

• Shea B. Airey of Florida and Paul A. Cain of Chapin, who will run a business to pressure-clean older properties

• Steven Ferguson of Charlotte, who sells music-transcription software

• Jewitte Leggett of Lexington, who has an “airbrush tanning” service

• Leon Middleton of Fort Mills, whose business, USCExchange, is a free Web site to help students sell items online at www.uscexchange.com

• Jase Ramsey of Kansas, whose firm offers test preparation

• Chris Zimmer of Pennsylvania, who has a concession stand business.

The incubator provides $1,000, legal advice and two years of office space.

• Nine plead guilty in appraisal fraud

Nine more people pleaded guilty Friday to charges stemming from an Upstate scam involving appraisal fraud.

U.S. Attorney J. Strom Thurmond Jr. said all were part of a group of Anderson-area loan officers, mortgage brokers and appraisers who overappraised 120 properties by a total of $13.5 million.

They made their money by higher fees and commissions.

To date, 19 people have pleaded guilty, and the attorney’s office said more charges are expected.

In other business news:

• Coastal Banking Co. will pay a 5 percent stock dividend on March 26 to shareholders of record as of March 12. Stock in the Beaufort banking company closed at $16.25 on Friday, up 15 cents.

• Golden State Foods, a production and distribution company with a facility in Lexington, has been bought by Wetterau Associates of St. Louis. The Lexington distribution site’s clients include McDonald’s.

From Staff and Wire Reports