Thursday, November 6, 2008

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Davis ripped in court

In a matter of 20 minutes, an attorney for cable television network A&E began deconstructing the small-town James Island persona that Richard C. Davis sought to project, casting him instead as a shrewd businessman who knew exactly what he was getting himself into. Davis claims A&E violated a verbal agreement to split any revenue after expenses from the "Flip This House" TV show that documented Davis' risk-taking real estate business, Trademark Properties Inc. Davis' testimony took nearly all of Wednesday, the second day in the jury trial in U.S. District Court.

About 70 affected by closing of S'ville siding company

A Summerville plant that makes siding out of cement fibers for homes and commercial structures is being shut down indefinitely as a result of the slowing construction market.

Latest wave of layoffs could worsen economic downturn

Steven Ridenhour knows how to build a car. But after the Chrysler plant where he worked for 15 years shut down last week, Ridenhour has little else to show on his resume. With four kids, a wife and a mortgage, Ridenhour is scrambling to replace his $28-an-hour pay. He isn't optimistic. He knows thousands of others are being thrown out of work every month, making his job hunt a worsening struggle.

Stocks take new dive

NEW YORK â€" A case of post-election nerves sent Wall Street plunging Wednesday as investors, looking past Barack Obama's presidential victory, returned to their fears of a deep and protracted recession. Volatility swept over the market again, with the Dow Jones industrials falling nearly 500 points and all the major indexes tumbling more than 5 percent.

Yahoo's future uncertain after Google backs out

WASHINGTON â€" Facing a legal battle that would have illuminated its widening market power, Google Inc. turned its back on its struggling rival Yahoo Inc. and pulled the plug on an Internet advertising partnership that had been conceived to keep Yahoo out of Microsoft Corp.'s clutches.

The Post and Courier

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