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Business Buzzzzzzzz

Jan 9 – Savannah Area Business Buzzzzzzzz

Category: Business Buzzzzzzzz

Jan 9 – Savannah Area Business Buzzzzzzzz


Cora Bett Thomas, one of Savannah’s most influential and ‘connected’ Realtors in the region. has announced plans to move Cora Bett Thomas Realty back to its roots, in the garden level of her home at 16 E. Jones Street in Savannah’s Historic District.  The company will close its current residential and commercial real estate office on Oglethorpe Street, but maintain its property management division’s office on E. York Street, as well as their real estate office in Beaufort County. Thomas is a member of the board of directors of the Savannah Economic Development Authority.

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News from around Georgia:  Daewon is bringing Jobs to LaGrange. The Seoul, South Korea-based Daewon America will open a manufacturing facility in the Troup County city, creating 100 jobs over three years. Daewon America manufactures springs and torsion bars for the automotive industry. The company will purchase and expand an existing facility in LaGrange, investing $14 million. Daewon is one of a growing number of KIA suppliers locating in the west Georgia region near the automotive manufacturer’s Georgia operation. The company is a direct supplier to KIA and Hyundai, and also supplies Mando, Powertech and Mobis.

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Raycom, owners of WTOC-TV in Savannah, has announced that the company will switch to

Rentrak’s StationView Essentials for local market household and demographics ratings versus Neilsen ratings service.  This more comprehensive service includes the integration of the Polk Automotive and Political Segmentation information that will allow Raycom to sell not only the size of its audiences, but also its “strength” of a particular auto purchaser or political segment, according to Rentrak and Raycom. “We believe Rentrak’s measurement can change the way our industry does business because there are significant advantages for both buyers and sellers of ad time,” said Paul McTear, Raycom president-CEO.  “We need to take the focus from measurement issues and put it back on the efficiency and effectiveness of local television.”

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Margaret “Meg” Heap will hold a press conference this week at The Mulberry Inn to formally announce her intention to challenge Chatham County’s District Attorney Larry Chisholm. David Simons of Simons & Associates, political consultants headquartered in Savannah, will manage her campaign. She spent 18 years in the D.A.’s office, primarily working under Spencer Lawton.  She resigned in Chisholm’s first year in office. Heap charges that 35 employees in Chisholm’s office have resigned or been fired in his first three years in office.  There are currently a number of lawsuits against Chisholm and Chatham County for various personnel matters pending in the courts. 

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Tanger Factory Outlet Centers, Inc. in Hilton Head has announced the opening of The Olive Garden restaurant as of today, January 9, in the Tanger 1 center. “The opening of an Olive Garden has been long awaited in our area,” according to LaDonna Shamlou, General Manager of the Tanger Outlet Centers in Hilton Head. “We are thrilled to be welcome this popular restaurant as an addition to our center for locals and vacationers to enjoy.”

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Hancock Askew & Co., LLP was recently named as one of the 2011 Best Accounting Firms to Work for. The annual list of “Best Accounting Firms” was created by Accounting Today and Best Companies Group. The Best Accounting Firms to Work for list is made up of a total of 100 companies, split into three groups: 50 small-sized companies (15-49 employees), 45 medium-sized companies (50-249 employees) and 5 large-sized companies (more than 250 employees). For the third year in a row Hancock Askew & Co., LLP has been named one of the Best Accounting Firms to Work for.  This year, Hancock Askew ranked #27 in the small firm category.

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The FDIC-insured institutions reported an aggregate profit of $35.3 billion in the third quarter of 2011, an $11.5 billion improvement from the $23.8 billion in net income the industry reported in the third quarter of 2010. This is the ninth consecutive quarter that earnings registered a year-over-year increase, according to a report issued by the FDIC on Monday, Jan 9, 2012.   Lower provisions for loan losses were responsible for most of the year-over-year improvement in earnings. Third-quarter loss provisions totaled $18.6 billion, almost 50 percent less than the $35.1 billion that insured institutions set aside for losses in the third quarter of 2010.

Editor's Note:  Join the Buzzzzzzzz.  Email Publisher Lou Pheps at This email address is being protected from spambots. You need JavaScript enabled to view it..


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