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Ordinary folks losing faith in stocks
NEW YORK — Andrew Neitlich is the last person you’d expect to be rattled by the stock market.He once worked as a financial analyst picking stocks for a mutual fund. He has huddled with dozens of CEOs...
View ArticleSavannah's Mulberry Inn sold
Savannah’s Mulberry Inn has been sold, said managing partner and former co-owner Mark Smith on Tuesday. The 145-room property at 601 E. Bay St. was purchased Monday by San Francisco-based Kimpton Hotel...
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River Street power plant sold to local hotelier
Georgia Power has sold the Plant Riverside site on River Street’s west end to hotel developer Richard Kessler.The Savannah native’s plans for the 3.79-acre site remain unknown, although a boutique...
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Avis buying Zipcar in deal worth nearly $500M
NEW YORK — Avis is leaping into the car-sharing service business by buying Zipcar for $491.2 million, aiming to capture a new type of customer and technology that will vastly expand its car rental...
View ArticleU.S. construction spending dips 0.3 percent
WASHINGTON — Spending on U.S. construction projects fell in November from October because a steep drop in volatile federal projects offset another gain in home building.Construction spending dipped 0.3...
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'Cliff' deal sends stocks up, but problems lurk
NEW YORK — The “fiscal cliff” compromise, even with all its chaos, controversy and unresolved questions, was enough to send the stock market shooting higher Wednesday, the first trading day of the new...
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Preservation group commits to 2014 conference Savannah will host one of the country’s premier preservation organizations once again when the National Trust for Historic Preservation comes to Savannah...
View ArticleU.S. manufacturing expanded slightly last month
WASHINGTON — U.S. manufacturing grew slightly last month and factory hiring increased. The modest gain suggests the economy entered the new year with some momentum.The Institute for Supply Management...
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Portside: Port begins New Year with lots on its plate
The Port of Savannah — and other major ports along the East and Gulf coasts — started the New Year with a collective sigh of relief that ship traffic was still moving and containers continued to be...
View ArticleNew agency tapped to handle S.C.'s tourism promotion
CHARLESTON, S.C. — A Bluffton advertising agency was tapped by the state Thursday to promote South Carolina’s $15 billion tourism industry with a contract worth an estimated $57 million.The contract...
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Step Up Savannah adds new board membersEleven new members will join the Step Up Savannah, Inc. board of directors in January. The new members’ terms began Tuesday and they will serve for three years....
View ArticleU.S. auto sales end 2012 on strong note
DETROIT — Strong U.S. sales in December capped a remarkable year for the auto industry — especially Japanese brands — and 2013 should be even better.Sales of new cars and trucks are expected to total...
View ArticleU.S. job market resilient despite budget fight
WASHINGTON — The U.S. job market showed resilience in three reports Thursday, suggesting it may able to withstand a federal budget battle that threatens more economic uncertainty in coming months.A...
View ArticleSavannah workers to receive back wages
L-3 Communications Vertex Aerospace LLC has agreed to pay $261,899 in back wages to 361 workers employed at Hunter Army Airfield in Savannah following an investigation by the U.S. Department of Labor’s...
View ArticleHulu CEO to leave by March
Hulu CEO to leave by MarchJason Kilar will step down by the end of March as the chief executive of Hulu, the online video service owned by the parents of ABC, NBC and Fox.Kilar, 41, broke the news to...
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LMI acquires ValentLMI Aerospace Inc. (Nasdaq: LMIA), a leading supplier of structural assemblies, kits and components and provider of design engineering services to the aerospace and defense...
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New menswear store opens on Broughton
Broughton Street retail pioneer Joe Davit has opened a new upscale menswear store in the former Heyman & Sons location.The Men’s Store by Joseph opened Dec. 3. Davit held a grand opening ribbon...
View ArticleStonecrest Mall in DeKalb faces debt trouble
LITHONIA, Ga. — The Mall at Stonecrest is facing debt trouble that leaves it vulnerable to foreclosure.Fitch Ratings has reported that a loan backed in part by the Lithonia mall is now held by a...
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The local economy in 2013: A look ahead
If you didn’t like 2012, chances are you won’t be crazy about 2013.The economy is expected to continue its moderate — but still subpar — pace of growth, as consumers, businesses and governments adjust...
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City Talk: Expecting a good plan for the old Plant Riverside
I probably sound like a broken record to regular readers, but the big City Talk story of 2012 was the surge in major investment in underutilized properties in the greater downtown area.And that’s...
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