NEWS

Manufacturing

SBJ Staff Report

Feb 20, 2012 - The Savannah Foreign Trade Zone, SEDA, BRAT, and the Savannah Chamber of Commerce has announced that Tommy Berry of PointTrade Services of Panama City, FL. will speak at the next Manufacturing Interactive Breakfast on March 7.

Berry will be showing how foreign trade zones can profit companies, will answer questions and will be available to make appointments to visit local manufacturing facilities in the afternoon for one-on-one consultations, according to Lee Grimes of SEDA and BRAT.

Berry will discuss how Foreign Trade Zones can affect a company’s bottom line through a number of means including:

- Eliminate Duty Drawbacks

- Avoid Ad inventory taxes

- Reduce Merchandise Processing Fees by hundreds of thousands of dollars

- Quota Avoidance

Berry is a recognized industry leader, with extensive experience in a wide variety of international trade, foreign-trade zone, and customs issues, including customs compliance and risk management, foreign-trade zones, duty savings opportunities, industrial park master planning, global supply chain management and solutions, and inventory control systems integration.

He is the President, CEO, and Founder of PointTrade Services, Inc. PointTrade Services, Inc. is an international trade consulting firm consisting of two divisions - PointTrade Services Consulting and PTSI Managed Services.  The majority of PTSI's client base includes top 50 importers into the US.

Through PTSI Managed Services, one of the largest practices of its kind in the industry, Mr. Berry oversees provision of FTZ operator and administrator managed services for the day-to-day operations of FTZ projects with over 20 million square feet of activated manufacturing and distribution space in eight states handling merchandise with over an estimated $15.6 billion in total FTZ transactions.

Berry's industrial park master planning experience includes preparation and analysis of future planned expansion of industrial activities, with direct involvement in the management of two industrial parks in addition to a foreign-trade zone. He was involved in the greenfield selection for the largest industrial park in Bay County, Florida, and has also worked on industrial parks in numerous successful FTZ projects in various locations around the country. Mr. Berry's economic development efforts helped attract more than $110 million in capital investment.

The buffet breakfast will begin at 7:15 a.m. in the auditorium at the Savannah Morning News building, 1375 Chatham Parkway.  Reservations are required by Friday March 2.

Health & Hospitals

SBJ Staff Report

Feb 20, 2012 - Spine & Sport will celebrate the grand opening of their new Richmond Hill location next Monday, Feb. 27 with Congressman Jack Kingston in attendance to deliver opening remarks at the official ribbon cutting at 12 p.m. 

Now in their 8^th year, the medical practice has invited the public to the open house from 11 a.m. to 1 p.m., along with a tour the new facility.  And, guests can consult with physical therapists or personal trainers about pain or weight loss goals. The company’s new 3,500 sq. ft. modern clinic is located at 2451 Hwy. 17, Suite B, in Richmond Hill.

Spine & Sport’s Dr. Mark Powers is one of five physical therapists in Georgia currently studying the advanced, rapid treatment of headache, neck, and back pain. Dr. Rachel Spivey provides patients with the peace of mind that they are receiving top of the line hands-on treatment, as she holds an elite Manual Therapy Certification. The facility also features a MedX Machine, the most highly-researched piece of medical equipment available to help reduce and prevent back pain.

The celebration will also mark Spine & Sport’s 8th anniversary.  Dr. Jacques Beauchamp started his first clinic in 2004 in Effingham County and soon after invited his college friend Dr. Eric Bull to join him.  Within 5 years they were named on the INC. 500/5,000 list of fastest growing companies and still remain on the list today. Of the company’s growth, CEO Dr. Eric Bull says that, “it is a validation of all the hard work that our staff does every day. It makes me happy that we have been continuing to provide such a quality service that people want to buy.” Spine & Sport now employs over 100 people.

A local leader in physical therapy and personal training, Spine & Sport is proud to be a part of the Richmond Hill community and grateful for the immense support they have received from Bryan County, the physicians state.  Spine & Sport now has five facilities in the area including Richmond Hill, Hinesville, Effingham, on Whitemarsh Island and in Savannah’s Historic District.

All clinics are open until 8pm for patients’ convenience.  For more information about Spine & Sport, go to www.spinesport.org.

Law

SBJ Staff Report

Feb 20, 2012 - The Savannah Council on World Affairs and Hunter Maclean, Attorneys at Law, will host a lecture this week by Dr. Michael J. Baun entitled, ‘The Euro Zone Debt Crisis and the EU: What Future for Europe?’

Michael Baun received his Ph.D. in Foreign Affairs from the University of Virginia in 1988, and is currently Professor and Marguerite Langdale Pizer Chair in International Relations at Valdosta State University, where he teaches international and comparative politics in the Department of Political Science. He is the author of "A Wider Europe: The Process and Politics of European Union Enlargement" (Rowman & Littlefield, 2000) and "An Imperfect Union: The Maastricht Treaty and the New Politics of European Integration" (Westview Press, 1996). His other publications include several book chapters and articles on European and German politics.

The European Union (EU) is experiencing the worst crisis since its inception. The Euro Zone debt problem poses a severe existential threat to the European Economic and Monetary Union (EMU), the European common currency (the euro), and to the EU itself.

Although prior crises lead to the advancement of the European project and furthered the EU’s economic and political integration; will the same results occur? What is the likelihood that the Euro Zone and EMU will survive the current debt crisis, and how will this affect the EU’s future shape and direction? And finally, what are the implications on the United States and transatlantic relations?

The event will be held Thursday, February 23, 2012 at the Coastal Georgia Center, 305 Fahm St, and is open to the public. The membership social will be at 7:30 PM, with the program at 8:00 PM.  The event is free for members, students, educators and active military & spouses, and $10.00 for non-members.

Banking & Finance

SBJ Staff Report

Feb 20, 2012 - First Chatham Bank has reported that its operating losses have increased. The bank reported a net loss attributable to bank operations of ($ 8.6) million for the 4^th Qtr. ended Dec. 31, 2011.  The figures are part of the bank’s ‘Call Report’ filing with the FDIC last week.

Because of the loss, the bank’s equity capital declined from $24.7 million at 12/31/2010 to $17.1 million at 12/31/2011.

The bank wrote off $ 11,880,000 million in loans during 2011.    Of the figure, $1.6 million was written off for residential, owner-occupied home loans; $5 million was for land development loans; $2 million was for commercial and industrial loans and $1.1 million for multiple family residential loans.

Despite this, the bank ended the year with assets of $521 million.

First Chatham has been operating under a Letter of Agreement with the FDIC, issued in July 2010 that required the bank to change some of its practices, but focused on increasing its capitalization versus its loan portfolio to sustain required loan to assets ratios.   

First Chatham appears to be in violation of that agreement, and has not been able to improve its ratios of debt versus assets to required FDIC standards.