Historical Newspapers of South Carolina

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HEhc (Bamecock State faces economic slowdown by Valerie Matchette The Gamecock Q The budget problems that have been the focal point of this spring’s legislative session are starting to adversely affect South Carolina’s business and industry, economists say. After taking stock in their economic standings, many South Carolina companies have adjusted their original earnings estimates, bracing for an economic downturn. Hartsville-based Sonoco Products Co. has estimated its first-quarter earnings will be down 20 percent from this time last year. Similarly, Springs Industries of Fort Mill announced its earnings were expected to decline from last year’s by about 5 percenL Charleston-based Polymer Group and Greenville-based Bo water Inc. expect _ lower earnings this quarter, too. ^ According to Mona El Sliazly, business and economics department head at Columbia College, the state’s economic slump has yet to reach its lowest point. “We still haven’t hit the bottom,” El Shazly said. “I think the stock market is a leading indicator, and that hasn’t even settled yet.” Sonoco CEO Harris DeLoach attributed a decline in spending to a lack of consumer confidence. “The consumer is looking at his 401(k), which is worth significantly less than it was two years ago, and lie’s not comfortable spending right now,” DeLoach said. According to College of Charleston economist Frank Helher, a “general, across the-board slowdown” is likely for South Carolina in the near future. He said economists’ efforts to bolster the state’s economy have been thwarted by speculation about the state of its finances. “Everything we’re trying to do in South Carolina this year, it’s like the rug is being pulled out from under us,” Hefner said. “I’d have to believe there are a number of businesses wondering if this is the time they want to expand.” Hefner also said South Carolina’s $500 million budget deficit worsened problems. He said legislative proposals to deal with the issue, such as sending state employees on unpaid furloughs, are harmful for consumer confidence. “When you’ve got a state government talking about 90-day furloughs, that’s got to have an effect on people’s confidence,” Hefner said. Some companies have remained unaffected by the budget problems. For example, Liberty Corp., a broadcasting company in Greenville, predicts no change between last year and this year. CEO Hayne Hipp said many economic concerns are unfounded because Will Street standings can prove misleading. The Associated Press contributed to this report. The city desk can be reached at gamecockcitydesk@hotmail.com Condon from page 1 the option to give an opinion. It just all of a sudden happened,” Devin said. Condon said a telephone conversation between Assistant Deputy Attorney General Kim Aydlette and Devin led him to believe Devin had no objection to dropping the murder chatge against Gant. Devin said this case was different because Gant and Brock had been lovers. Gant said her infant son is Brock’s child, though at the time, Brock was married to another woman at the time who is living in Texas. Police gave the following account of events: On Feb. 17, Brock was in Gant’s house discussing money for the child. An argument broke out between the two, and Brock slapped Gant and ■ put her in a headlock. Gant then managed to wrestle the 300-pound Brock out of her W.ilterboro home and lock the door. Brock then forced his way back inside by shattering the door frame. Fearing for her safety, Gant told police she grabbed a kitchen knife and stabbed Brock once in the chest. He was pronounced dead at a local hospital. Gant twice called 911 to report an unconscious man outside her apartment She didn’t mention the break-in or the stabbing in either call. She told the dispatcher in the first call that Brock had had a lot to drink. She said Brock was breathing, but she couldn’t get him to wake up. Condon said Friday that any future discussions on dropping charges in home invasions should come with “written input from law enforcement.” However, Condon said he still thinks Gant’s case fits into his policy against home invaders, despite the disagreement with Devin. The Associated Press contributed to this report. Write the university desk at gamecockudesk@hotmaiLcom Palms from page 1 Legislators and state party officials have also said Palms should resign if he decides to run. State GOP Chairman Henry McMaster questioned Palms’ * ability to continue to serve the university after the announcement. “Dr. Palms has opened Pandora’s box,” McMaster said. “This is a bad situation for the university, the state and the taxpayers.” - House Speaker Pro Tern Doug Smith, R-Spartanbuig, said Palms must resign now. He said it would be unfair for Palms to retain his presidency while engaging in partisan activity. “This represents an unacceptable conflict of interest — one Dr. Palms should rectify immediately,” Smith said. Meanwhile, former U.S. Secretary of Education Dick Riley, a former governor of South Carolina who is currently a Distinguished University Professor at USC, said he wouldn’t run for the university presidency if the position became open. “There’s no vacancy. It’s not an issue now,” Riley told The Greenville News on Friday. Riley said he’s “enjoying very much” the work he’s doing at USC. Riley is an adviser to the South Carolina Network for Educational Renewal. He works with the network—a partnership among USC, Benedict and Columbia colleges and Furman and Winthrop universities — to design new ways to train teachers. Floyd and fellow trustee Toney Lister had both mentioned Riley’s name as a possible successor to Palms. Floyd said Riley’s Democratic affiliation wouldn’t interfere with his being president because he “would never bring politics to the university.” Lister agreed that Riley would do well as president. “Dick Riley has done an outstanding job and would do the same in the president’s job,” Lister said. The Associated Press contributed to this report. Write the university desk at gamecockudesk@hotmail.com Working at the BEACH this summer? Enroll in classes at HGTC & earn transferable college credits. Keep going J in the right direction. Get there sooner. 4 Call for more information. (843) 349-5277 www.hor.tec.sc.us HG Horry-Georgetown Technical College Conway • Georgetown • Grand Strand P.O. Box 261966 Conway, SC 29528-6066 - -. ... .■/ — - I Evening on the 'Shoe — A ‘BicentennialCelebration— April 5,2001»UOor$eshoe*6pm * with s performing on the Carolina First stage n ^ Sponsored by: CAROLINA FIRST I Department of Student Life 1 Bicentennial Student Events Committee Carolina Productions Regions Bank For more information, call 777-8182, stop by Russell House room 218 or visit www.sc.edu/bicentennial Individuals with disabilities needing special accomodations may call 777-8182 I I l I I MON S ♦