Is Charleston-raised Wall Street veteran Sallie Krawcheck a fan of “Mad Men,” the circa-1960s cable drama about the advertising business?
She suggested as much while appearing as guest host on CNBC’s “Squawk Box” early Thursday, when she referenced the hit AMC show in some remarks about the biggest financial story of the week.
The topic, of course, was Facebook’s initial public offering and how it got bungled so badly.
“What’s going on here? We did better IPOs when Don Draper was in his prime,” the Porter-Guad graduate riffed.
Krawcheck, who covered the firms that manage IPOs during her days as a stock analyst, also blasted “road shows,” those cozy meetings between management and Wall Streeters ahead of a public offering. One alternative is that issuers open the pitches to all investors by using technology like webcasts, she said.
Krawcheck seems to be out more in the public eye these days. She was ousted as head of Merrill Lynch’s global wealth management business in September after a high-level shakeup.
While Facebook’s shares were heading south last week, the Bank of South Carolina Corp. was moving in the opposite direction. The Charleston-based lender saw a 7.4 percent pop in its stock price Wednesday, closing at $12.00. That was enough to make BKSC one of the top 10 percentage gainers on the Nasdaq that day.
Bank insiders snapped up some shares earlier this month, and an executive was granted 5,000 options Tuesday, but there was no apparent event driving Wednesday’s spike. The stock held most of its gains through Friday, when it closed at $11.64.
It’s game over for local terrestrial radio listeners of Jim Rome, Paul Finebaum and the other sports pundits at WSPO. Without warning, Apex Broadcasting’s 1390-AM was flipped last week from a Fox Sports Radio format to an all-Spanish-speaking concept, joining its sister signal at 99.3-FM. Apex could not be reached for comment Friday.
The Carolina Park project in Mount Pleasant is still mired in litigation, but a large religious congregation believes in the location.
Seacoast Church is planning for more expansion, and closed Wednesday on the purchase of an eight-acre parcel at Carolina Park. The multi-state mega-church, which has not released detailed plans for the new site, currently has 13 satellite campuses in South Carolina, North Carolina and Georgia.
Carolina Park is a huge tract at the north end of town that stalled during the housing downtown and went into foreclosure.
Eventually, it’s expected to have more than 2,000 homes. As of last year, there were four occupied residences at Carolina Park, and one church: Palmetto Presbyterian.
S.C. Realtors President Gordon Seay was among an estimated 15,000 real estate professionals who converged on Washington, D.C., to press their agenda with lawmakers, including Palmetto State members of the House and Senate.
“The rally was an important event that let the nation know that homeownership impacts families, communities, small businesses and the nation’s economy in a very meaningful way,” Seay said Tuesday.
Realtors want Congress to continue to support tax breaks for homeowners, such as the mortgage interest deduction, and to pursue market lending reform issues. They also pressed lawmakers for a long-term extension of the National Flood Insurance Program, which got a 60-day reprieve last week.