August 31st | Ten days ago on Augst 21, the DOW fell more than 500 points. Then on Monday, August 24, the DOW fell again another 500 points. By Tuesday, August 25, it looked like the DOW was on an upswing, but then in the last hour of the day it fell and closed again down more than 200 points. Whoa! Then … here comes Wednesday and Thursday with a rebound that was one of the best two-day percentage gains in more than six years. What’s happening and what will be next?
Most financial professionals doubt that this will be a repeat of the 53 percent drop experienced from October 2007 until March 2009. Why – what’s the big difference? The lack of a real negative economic event like we had back then makes this different. There are no collapsing housing bubble or over-sold mortgages. The reality we are facing is an interest rate hike. (more…)
July 27th | Our world is a global world. Our markets are global markets. Economic viability depends on our ability to interact within these horizons.
Charleston has an existing export market and our economy is diverse. Our success in the future depends on our ability do business on a global scale. We have a local resource set up to help us do just that. (more…)
July 13th |
My husband and I traveled all over Australia last month. At the beginning of June, only a few people we met were familiar with Charleston, our fair city. By the end of our travels because of the tragedy at Mother Emanuel, most of the people we met knew of Charleston.
Their comments were kind expressions of sorrow, but also of how they were impressed by the total community support and display of love and unity that Charleston showed to the families of the victims. This unity was felt by the world.
The 30,000 participants and thousands of spectators celebrated the 37th Cooper River Bridge Run on March 28.
Charleston’s local economy gets a direct infusion of nearly $20 million. A 2011 economic impact study stated $18.3 million and that was several years ago in a much more tenuous market environment. To add to the impact the Bridge Run was also the first weekend of spring break and the beginning of Easter week. (more…)
Feb. 23, 2015 | Want to read something good about education in South Carolina and specifically Charleston? Several years ago, the greater community came together to create an organization whose purpose is to maximize resources and foster an environment of collective impact where young people of all socio-economic backgrounds can reach their fullest potential. New initiatives within schools from pre-school through post-secondary are in place to support youth development from cradle to career.
Inspired by Anita Zucker and many other community partnerships, the Tri-County Cradle to Career Collaborative was formed. Cradle to Career was modeled after a program in Cincinnati called Strive. Strive experienced fast and ongoing success with a 72 percent increase in kindergarten readiness and reduced drop-out rates among high school students. Although the collaborative does not implement programs, it aligns resources that provide students and their families with continuous stream of support.
JAN. 26, 2015 | The DOW is at 18,000. Wait, the Dow is at 17,200. What now, it’s back close to 18,000. Look again and low 17,000s appear to be the target. We experienced this type of rollercoaster ride just about every week in January. It’s up. It’s down. In short time frames, there were seemingly big swings. What happened?
Quantitative easing (QE) – buying back of government bonds to stimulate the economy – reared its head again, but this time in the Eurozone. QE appeared to have worked in the countries – USA, the U.K. and Japan – that used it to boost their economies after the global collapse in 2008. The euro, a 19-nation based currency, chose a different route. First, the rules governing the euro are just barely over 10 years old and many of the more difficult decisions untested. The route chosen was to allow each country’s government the primary authority to do what it could to stimulate their individual economy. Austerity was predominant.
DEC. 29, 2014 — At the beginning of 2014, we were celebrating a significant rebound in real estate prices and technology innovations – like prosthetics being made with 3D printers.
Other events had us a little anxious. The Affordable Care Act had just been implemented. Tax season was about to reveal the consequences of the new tax laws, and the Federal Reserve announced that it would begin in January 2014 to taper its QE3 stimulus program, while keeping interest rates low.
It is now the end of 2014. What actually happened?
NOV. 24, 2014 — Giving. It’s wonderful when it works out to benefit everyone involved, and you actually get something worthwhile back. That’s what is happening with S.C.’s Community Development Tax Credit. This is a wonderful way to get into the spirit of the season.
Here’s how it works. You donate money to a recognized nonprofit community development corporation (CDC) or community development financial institution (CDFI) and 33 percent of the donation is credited against your state taxes on your South Carolina tax return. A “community development corporation” is defined, in part, as a nonprofit corporation that has a primary mission of developing and improving low-income communities and neighborhoods through economic and related development. A “community development financial institution” is defined, in part, as an organization that has a primary mission of promoting community development by providing credit, capital or development services to small businesses or home mortgage assistance to individuals. (more…)
OCT. 27, 2014 — Charleston is known as the Silicon Harbor and is home to the Digital Corridor. What is this? What does this mean? Who is involved, and why is it relevant to us?
Let’s start near the beginning. A local visionary, Ernest Andrade, spearheaded the Digital Corridor in 2001. It evolved into a major initiative to support technology and knowledge-based businesses. There is a website — www.CharlestonDigitalCorridor.com. The Digital Corridor is “A creative effort to attract, nurture & promote Charleston’s knowledge economy by facilitating a business, physical and social environment where technology companies thrive.”