Business and Economic Review

Workplace Wellness

More and more companies are turning to corporate wellness programs. Today, more than 81% of US businesses with 50 or more employees have some form of health promotion program, although their breadth and formats vary widely. University studies show that for every $1 spent on wellness programs, employers can expect an average return of about $3 - the result of less worker absenteeism and fewer workers' compensation and health care claims. Tips for starting a corporate wellness program include: ...

Environmental Update

Recent environmental news that may be of interest is discussed.

Quarterly Outlook

Despite a slight detour during the late spring and early summer, the US economy continues to forge ahead. Total economic growth during the second quarter was slower than expected, and the summer months brought a few weaker-than-expected employment and retail sales reports. Yet, many forecasters expect this softness to be temporary and for the economy to continue to grow. Overall, the US and South Carolina economies are expanding. Output is growing, employment is growing, and the unemployment ...

Editor's Desk

Play Your Cards Close to the Vest

When considering economic development, confidentiality may or may not come to mind as an immediate concern, but there are reasons to make it a priority. Growing or expanding businesses have an even greater need to keep information confidential as the expansion is usually related to a new or improved business or technology factors. The creation of new jobs also carries with it a need to protect sensitive business information. Finally, even if a business or industry is not expanding, there is a...

The Economic Impact of South Carolina's Military Bases

The many military installations dispersed across South Carolina account for a substantial segment of the overall South Carolina economy. The ultimate impacts on the state and local economies don't stop with direct expenditures. Once an initial injection of funds occurs in the local economy, additional rounds of economic activity are supported by economic multiplier effects. By including these multiplier impacts, the true significance of military base operations to the state and local economie...

Health Care Corner

Got Health Insurance?

Nationally, states are struggling with a deterioration of the health insurance market - particularly within the small group market. A comprehensive study of the South Carolina market had not been conducted until the Department of Insurance was awarded a State Planning Grant through the US Department of Health and Human Services in 2002. The grant has made it possible for South Carolina to study issues surrounding health insurance, including how to expand insurance coverage and stabilize insur...

Business Forum

Understanding Work Styles

Often, interpersonal factors are more important to one's success in the workplace than is technical competence. One interpersonal factor that is likely to vary between subordinates and supervisors is work style. For instance, when faced with a problem, some people like to adapt solutions in a careful, methodical manner whereas others prefer innovative solutions. While some situations may call more for innovation and others for more adaptive solutions, in general, one approach is not better th...

Your Finances

Family Meetings

Once recommended only to the ultrawealthy, family meetings are becoming common for families who want to make wise decisions about their estate plan and in the process, share their values, hopes, and dreams. Many families find the holidays or a family reunion an opportune time to schedule 2 or 3 hours to discuss financial issues. Families uncomfortable with discussing financial specifics can start with a discussion of future health care choices. A next step in sharing is often explaining the d...

Trends

South Carolina Economic Facts

South Carolina and US economic trends are discussed. As many as 30% of Baby Boomers expect to work until they reach age 66, at a minimum. That's probably because many Boomers aren't saving enough for their "Golden Years." According to a survey by Ipsos US Express, as many as 45% of respondents between 40 and 58 years old said they weren't confident their funds would last them the length of their retirement. Separately, an all-time record 7 million homes were sold in the US in 2003, besting th...

Technology

Making Your Web Site Earn Its Keep

An online Internet presence has become a necessity for most businesses and organizations today. Yet, because the Internet is new and unfamiliar to many decision-makers, they often allow technology, rather than their business plans, to define their organization's Web site. The result: poor return-on-investment, disenchantment with the Internet as a medium for generating and keeping business, and a Web site that doesn't earn its keep. A Web site must be carefully planned and executed to fulfill...