Friday, December 19, 2008

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Request for runway money withdrawn

Urged on by the region's largest business organization, the Charleston County Aviation Authority board voted Thursday to withdraw its application for federal funding to help pay to extend the 7,000-foot-long runway at Charleston International Airport next year. Authority Chairman David G. Jennings said the move "makes sense" before Thursday's vote.

Company fined $4.3M

A Michigan manufacturer that supplied parts to Force Protection Inc. pleaded guilty this week to knowing about an illegal kickback scheme and has been fined $4.3 million for the felony. Court documents filed in Charleston show Spartan Motors Chassis Inc. pleaded guilty this week to lying about its knowledge of the scheme, in which it paid a former Force Protection employee $1,500 for steering business to Spartan.

Weekend shoppers expected to fill stores

If you haven't finished your Christmas shopping, expect crowded aisles and long checkout lines this weekend. The Saturday before Christmas is traditionally the busiest shopping day of the year, and 41 million people haven't even started their holiday gift-buying yet, according to a survey from the National Retail Federation, the industry's main trade group.

Worries about GE send stocks falling

NEW YORK â€" Wall Street extended its losses Thursday, as a negative ratings outlook on financial and industrial powerhouse General Electric Co. shook an already fragile investor psyche.

FedEx making cuts as demand slows

MEMPHIS â€" FedEx Corp. on Thursday announced more broad cost cuts, including salary reductions, as deteriorating economic conditions continue to drag down demand, warning the outlook for 2009 remains murky.

The Post and Courier

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