Business Briefs
S.C. insurance rates below U.S. average
COLUMBIA — South Carolina automobile insurance rates increased slightly in 2006 but remained on average lower than most national rates.
The National Association of Insurance Commissioners found Palmetto State drivers paid an average of $756 for coverage in 2006, the most recent figures available.
The South Carolina Insurance News Service said the 2006 rates were about $3 higher than in 2005 but were $61 cheaper than the national average. Nearby states ranged from a low of $596 in North Carolina to a high of $1,069 in Florida.
SCE&G: Money for reactors not an issue
COLUMBIA — South Carolina Electric & Gas Co. is confident it will be able to raise the money needed to build two new nuclear reactors in Fairfield County with state-owned utility Santee Cooper, an official said this week.
Jimmy Addison, chief financial officer for Scana Corp., SCE&G's parent, said he thinks the current financial situation will stabilize and money will be available for the estimated $10 billion project.
Delta to charge fee to check baggage
ATLANTA —Delta Air Lines, Charleston's biggest carrier, says it will impose a $15 fee to check a first bag. It also said Wednesday it is cutting certain other fees as it aligns its policies with those of Northwest Airlines, which it acquired last week.
Delta says that effective immediately, for traffic on or after Dec. 5, customers flying within the U.S. will be charged $15 for the first checked bag and $25 for the second checked bag when traveling domestically.
Profits, sales rise at Time Warner Cable
NEW YORK — Time Warner Cable Inc. said Wednesday that its third-quarter profit rose 21 percent to $301 million partly on stronger high-speed data and voice revenue. The cable operator, which serves parts of the Charleston region and is set to separate from parent Time Warner Inc. by the end of the year, said revenue climbed 8 percent to $4.34 billion.
Buyout takes bite from Whole Foods
AUSTIN, Texas — Whole Foods Market Inc.'s fourth-quarter profit plunged because of costs related to its acquisition of Wild Oats Markets Inc.
The company said Wednesday its net income fell to $1.5 million, or 1 cent a share, compared with $33.9 million, or 24 cents a share, in the same quarter of last year. Sales increased about 3 percent to $1.79 billion.
The grocer, which has a store in Mount Pleasant, said the Wild Oats acquisition costs accounted for a hit of $25.4 million, or 9 cents a share, to net income for the quarter.
FCC official to talk about TV changes
A commissioner from the Federal Communications Commission is scheduled to be in the Charleston area today to discuss the Feb. 17 transition to digital television. Michael Copps is set to speak from 1:30-2:30 p.m. at the Lowcountry Senior Center, 865 Riverland Drive on James Island. The event is free and open to the public.
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