Updated SPA bonus plan to focus on cargo growth
The State Ports Authority is retooling its executive bonus system to focus more attention on cargo growth.
CEO Jim Newsome could see his income increase by as much as $125,000 if the SPA exceeds key business goals within a given fiscal year. The tiered system affects 12 other managers. The goal is to stem the decline in business at the port and stoke the economy by motivating key employees to aggressively chase new business.
South Carolina's jobless rate for November improved for the third month in a row, slipping to 10.6 percent. But the total number of nonfarm jobs declined by 3,700 despite the slight improvement from October's 10.7 percent jobless rate. The figures are calculated using two different surveys, which can cause them to move in different directions, economists said.
Retailer Kohl's is looking to open its third local store, this time in West Ashley. Developers Diversified Realty, which is renovating its Ashley Crossing property on Glenn McConnell Parkway, said on its website it is "splitting up the vacant Walmart store for Kohl's" and other anchors. Projected opening date: October. Kohl's declined to comment.
Urge to merge
After more than 54 years as a solo shop, Charleston-based Liollio Architecture will start out the year with a partner. Liollio is merging with Columbia's Watson Tate Savory to form Watson Tate Savory Liollio Architecture. The merger takes effect Jan. 1.
Nearly 100 mayors across the state signed a letter asking the president to include money in his budget to fund the next step in deepening Charleston Harbor. South Carolina needs up to $300 million to take the channel to 50 feet so it can more easily handle a new wave of huge ships. The project has been hung up by a $400,000 study that must be paid for with federal money.
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Charleston Area Regional Transit Authority riders can now use a kiosk with the iPad-like technology to find the location of the bus they're on and to learn about the attractions closest to each stop. It's only available for now on one Downtown Area Shuttle. Slicker Interactive is testing the device under an agreement with CARTA.
Coast is clear
The future port terminal site in North Charleston is set to be cleared of its final horizontal impediments. The State Ports Authority hired a company to raze the last seven structures on the property. The work is expected to take about a year. The SPA hopes to open its new terminal on the property around 2017-18.