Thursday, January 1, 2009

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Curtain closes on dismal '08

NEW YORK â€" The last trading day of 2008 on Wall Street provided a merciful end to an abysmal year â€" the worst since the Great Depression, wiping out $6.9 trillion in stock market wealth. Six years of stock gains disappeared as the economy crumbled and markets crashed around the globe, shaking the confidence of professional and individual investors alike.

SEC urges new audit of Force Protection for 2006

The U.S. Securities and Exchange Commission believes Force Protection Inc. should have its 2006 financial statements audited again because of serious accounting oversights uncovered at the firm that examined its books for that year. The locally based armored-vehicle maker said Wednesday it plans to request a waiver from the commission's recommendation.

Siegel ends successful run at helm of clothing company

Bob Siegel pushed up sales of the famous Lacoste USA brand tenfold in his seven years as chairman and chief executive of the crocodile-emblazoned apparel company. On Wednesday, the Charleston resident stepped down from his post. "It's been a wonderful run," he said.

Kids' facility My Gym closes in Mt. Pleasant

My Gym, a nationally franchised fitness center for the kiddie set, closed its Mount Pleasant location Wednesday. The gym was located in the Wando Crossing Shopping Center at 1483 U.S. Highway 17. Owned by Sandra Jamali, My Gym opened in September 2005. The exercise center wrapped physical fitness in a fun, brightly colored package, boasting equipment like a trampoline, monkey bars and a ball pit.

Business Briefs

Evening Post Publishing Co., parent company of The Post and Courier, has purchased Lowcountry Parent magazine from The Greenville News, it was announced Wednesday. Lowcountry Parent is a monthly magazine aimed at parents of schoolchildren. It is distributed in Berkeley, Dorchester and Charleston counties. The Greenville News will continue to publish Upstate Parent in Greenville and Palmetto Parent in Columbia.

The Post and Courier

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