Tuesday, December 9, 2008

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Board OKs $2.63B for '09

Santee Cooper's board of directors approved a $2.63 billion spending plan for 2009 on Monday, including $363 million for construction of new power plants and $20 million in higher utility rates that will start next November. The budget is about 20 percent higher than the current budget of $2.19 billion, but Laura Varn, vice president of corporate communications for Santee Cooper, said the increase is less than 1 percent after subtracting higher costs for fuel and purchased power.

Companies planning $32M in expansions

Two unidentified companies are planning to invest $32 million and create almost 140 jobs under separate expansions of their local manufacturing operations.

Debt-plagued Tribune Co. seeks bankruptcy protection

NEW YORK â€" Media conglomerate Tribune Co., smothered by $13 billion in debt and a drop-off in advertising, on Monday became the first major newspaper publisher to seek bankruptcy protection since the Internet sent the industry into a tailspin.

Delfin USA project may bring 160 jobs

An oil industry company in Russia's emerging economy is anchoring its move into the U.S. lubricants market from a small site on the Cooper River.

Top execs give up bonuses

NEW YORK â€" Morgan Stanley's Chief Executive John J. Mack is giving up a bonus for the second straight year as Wall Street struggles through one of the most severe crises in its history marked by staggering losses, mass layoffs and the collapse of storied firms.

The Post and Courier

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