Saturday, November 22, 2008

Presspass - Business Edition

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Agriculture Department plans non-traditional media approach

For residents who insist on South Carolina-grown foods, soon there will be a name for you: "Palmetto Vore." A twist on carnivore or herbivore, the phrase is derived from a term born in San Francisco: "locavore," which means someone who seeks out food grown within a certain radius of his home.

Force Protection plans to take new roads

Armored-vehicle maker Force Protection Inc. is shifting gears and diversifying its business by looking to customers abroad and by investing in new products, the Ladson-based company's chief executive officer told shareholders Friday. In past years, the top priority has been almost exclusively to churn out armored trucks for U.S. forces in the Middle East, said Chief Executive Officer Michael Moody, who has been running in the company since January.

Late-day rally for stocks

NEW YORK â€" Wall Street staged a comeback Friday, with the major indexes jumping more than 5 percent and the Dow Jones industrials surging nearly 500 points. The late afternoon rally ended another volatile week that saw stocks reach six-year lows.

Wal-Mart chief to step down in 2009

NEW YORK â€" Wal-Mart Stores Inc., the world's largest retailer, unexpectedly announced Friday that its chief executive officer will retire in February and be replaced by the head of its international division. With a solid retail background and experience wrangling costs in the company's overseas unit, analysts say CEO Lee Scott's successor, Mike Duke, has what it takes to take on the top post as the company increasingly focuses on emerging markets.

Inglis: Feds to look at Whittle's payout

GREENVILLE â€" U.S. Rep. Bob Inglis' office said the Treasury Department is reviewing the pay package for a South Carolina banker whose company is seeking money from the $700 billion federal bailout program. The review was requested by Inglis and Gov. Mark Sanford.










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