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Experts say Bernanke a good pick

August 25, 2009 By Leave a Comment

President Obama announced Tuesday that he wants to keep Ben Bernanke as Federal Reserve Chairman. Bernanke is a South Carolina native who lived in Dillon County.

USC Assistant Professor of Economics William Hauk says it’s a good idea. “He’s in a very good position to address what we’re going through. Previously he was an economics professor, and his main area of interest was what happened to the American financial system during the Great Depression. And I think given the hand he was dealt, he has done a pretty good job so far.” [Read more...]

Filed Under: Business, Economy, News

McMaster releases economic plan

August 25, 2009 By Leave a Comment

Henry McMaster, now a candidate for governor, revealed his economic plan Tuesday. The South Carolina Attorney General calls it his “Path to Prosperity.”"We have what we need to enter the knowledge-based economy, to build on the industries we have, to let government help them, and get out of the way when necessary,” said McMaster.

McMaster’s plan involves better coordination among the state’s business leaders. He says they should chart a course that should be implemented by the state Department of Commerce. [Read more...]

Filed Under: Business, News, Politics & Government

State, national SAT scores drop, SC #1 in improvement

August 25, 2009 By Leave a Comment

SAT scores dropped nationwide this past year –and South Carolina’s scores did, too. State Education Superintendant Jim Rex says,”The scores dropped across the board. It dropped in our public schools–last year’s seniors who took the SAT—by about six points and our private schools dropped by about 22 points from the previous year,” says Rex.More South Carolinians participated last year in this voluntary test to enter college, while fewer kids took the test nationally.

As for the lower scores this year for the state and nation, Rex says,”It’s not clear to anyone, including the College Board, who administers the test, as to really what happened this year nationwide with public and private school students. But South Carolina is still progressing. Over the ten-year trend, which is really more important than any single year, South Carolina is still number one in the nation in terms of improvement.” [Read more...]

Filed Under: Education, News

Lottery winner says big win won’t change him

August 25, 2009 By Leave a Comment

Columbia resident Solomon Jackson, Jr. has come forward to claim his lottery prize–$259,900,000. Lottery Director Paula Harper Bethea made the announcement Tuesday, saying that Jackson had worked hard all his life and was extremely deserving of the honor.

Lottery winner Solomon Jackson, Jr.

Lottery winner says he was just buying a ticket to support education.

The Department of Revenue retiree wouldn’t say much whether he will take his winnings annually over three decades or in a $129 million lump sum. Lottery officials say after taxes, that $129 million would be more like $90 million.

Jackson bought the winning Powerball ticket last week at a Columbia gas station but waited nearly a week to come forward. When he had the ticket scanned, he was told to go to the lottery commission’s claims office, so he knew he was a winner, but he wasn’t sure how much.

He joked with reporters Tuesday afternoon in downtown Columbia. “I said to myself, ‘Why can’t I throw $2 at the lottery to help education?’, but as it turns out, I didn’t need $2 to win it, so I wasted a dollar.”

Jackson was introduced by his attorney I.S. Leevy Johnson, whose wife taught Jackson in high school. “Often these wins make major material changes in peoples’ lives. But based on his character and involvement in his community, I’m confident it’s not going to change him.” [Read more...]

Filed Under: Education, Human Interest, News

SC considering offshore drilling

August 25, 2009 By Leave a Comment

A South Carolina panel is expected to ask for offshore drilling for the state. Senator Paul Campbell of Berkeley County is recommending a request for a federal agency to allow South Carolina to be a part of a five-year off-shore drilling plan.

The Post and Courier of Charleston reports the recommendation by Campbell says drilling has its benefits, including state revenue assistance, and it will not hurt the state’s $16 billion tourism industry or the environment. Campbell says the drilling would be done about 60 miles off the Carolina shore, so oil derricks could not be seen from the beach.

According to the article, in September, federal regulators are expected to put some protections on thousands of square miles of the potential drilling area where valuable deep sea coral is found. The recommendation is expected to be released before September 1, in which Campbell says he hopes it will be followed with a letter from legislative leaders to the mineral agency.

Although Governor Mark Sanford has opposed oil drilling, the governor’s Communications Director, Ben Fox, says Sanford sees the difference between oil drilling and natural gas drilling, so he will look at the recommendations.

Filed Under: Environment & Conservation, Legislature, News
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