Kiawah plans overhaul of 3 key restaurants
Kiawah Island Golf Resort is getting set to mix up and make over its extensive dining operations.
The tony vacation getaway said it plans to introduce new restaurant concepts in three of its dining destinations next month, and that it would "more clearly define established concepts in each of the other outlets."
"These changes are designed so that each of the resort's 12 dining outlets will have unique menu choices and price points," the resort said in a statement.
The overhaul includes a name alteration for the signature Ocean Room restaurant in the seaside hotel, The Sanctuary, to Ocean Room Prime. The new steakhouse will offer hand-selected cuts of beef and chops as well as other signature dishes.
Also, Tomasso will be the new Italian-inspired incarnation of the Turtle Point Clubhouse. And the Atlantic Room at the Ocean Course Clubhouse will home in on seafood fare featuring "modern American twists" on seasonal selections.
The other restaurants will tweak their menus "to support their original dining concepts," according to Roger Warren, resort president.
The revamp was the result of what Warren described as an extensive industry research and a guest survey conducted in 2008.
"Five years after the opening of The Sanctuary, we felt that it was time to do a wide-ranging review of our entire food and beverage philosophy," he said in a statement.
The resort analyzed its pricing and menu diversity for the past five years and also looked at the F&B operations of eight comparable properties from across the country.
"What we learned was that our dining choices, over the years, had melded into similar menus and similar options," Warren said. "What guests were looking for was variety."
The resort also plans to more clearly define the difference in pricing at the dozen dining outlets to give guests a better idea of what the tab will be in advance.
Exchanging exchanges
A publicly traded Upstate company closed 2008 on a sour note: Kemet Corp. was notified on News Year's Eve by the New York Stock Exchange that its common stock will be suspended from trading before the market opens this Friday.
The maker of electronics components said it was unable to comply with a rule requiring that exchange-listed companies maintain an average market capitalization of $25 million over a consecutive 30 trading-day period.
Market cap is determined by multiplying the number of shares outstanding by the price.
Kemet said it would not appeal the decision and that its stock will trade and be quoted on the Financial Industry Regulatory Authority's Over-the-Counter Bulletin Board and/or on the Pink Sheets Inc.'s Pink Quote System.
A new ticker symbol is expected to be issued this week.
"We expect there to be no disruption in our operations resulting from the change in our stock trading platform," Per Loof, Kemet's chief executive officer, said in a statement.
Loof also said the company continues "to be in full compliance with all of our lending arrangements" and that Kemet will continue to file financial statements with the Securities and Exchange Commission.
Last month the ailing Greenville-based company said it would cut about 1,500 manufacturing jobs, or about 14 percent of its workforce, and lowered its third-quarter revenue outlook.
The company also said it would temporarily suspend its 401(k) matching percentage in the United States, make permanent reductions in several retiree-benefit programs and plans a 10 percent cut in pay for salaried employees effective last Thursday.
Kemet also extended its normal holiday plant shutdown schedules at many of its manufacturing facilities between Dec. 23 and today.
Kemet announced its pending suspension from the Big Board trading 20 minutes after the U.S. markets closed Friday. Its shares ended the day up 19 cents, or 70 percent, to 46 cents. That gave the company a market cap of about $37 million. A year ago, KEM was trading for about $6.60.
Waste not
Force Protection Inc. has learned to clean up its act when it comes to handling regulated refuse.
The state Department of Health and Environmental Control fined the Ladson-based armored vehicle manufacturer $55,000 for improperly handling its hazardous waste. Inspectors who visited the local plant found a number of violations, among them: Workers had failed to label containers of hazardous waste, they weren't recording or routinely inspecting the disposal area, and the waste containers weren't proper.
Spokesman Tommy Pruitt said he didn't know what specific type of waste was being mishandled, but he noted that Force Protection has since fixed the problems.
"We actually had a hearing in April of 2008 and showed evidence that it has been corrected," Pruitt said. "Since then, there have been no incidents with the administration of our environmental programs. ... We paid the fine and all is well."
He added that the company was recently recognized by the U.S. Environmental Protection Agency for its efforts.
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