Savannah city officials are considering cutting their film office budget. The move is aimed at closing a gap in revenues and spending. But it's striking some in the film industry as short-sighted. The city recently hosted two high-profile movies that brough the area millions of dollars.
The Atlanta-based company saw a jump in net-income and says a tight hold on expenses helped to bring about a positive report.
Gulfstream Aerospace has announced a major new expansion that will create more than 1,000 new jobs. A seven-year, $500 million plan represents a bright spot in Georgia's recession-wracked economy. Company officials say, many of the jobs will be at its Savannah headquarters in areas like production engineering and technical support staff.
The company that manages the former nuclear weapons complex near Augusta says it's laying off 1,400 contractors next year. Savannah River Nuclear Solutions announced the news Wednesday in a memorandum to employees. The memo said the company is offering severance packages to people who volunteer to leave or retire starting next week.
The state has modified permits for two proposed coal plants in Georgia. Both of the projects have been held up with legal challenges.
Cremations are on the rise nationwide as Americans hold more tightly to their money during this recession. But Georgia is bucking the national trend. The number of cremations in America has gone up nearly every year for a century, and the Cremation Association of North America predicts the national rate to average 44 percent by 2015. Except in Georgia, where it’s projected at 11 percent.
A coalition is speaking out against Georgia Power’s 1.2 billion dollar rate hike request. Groups who might normally be at odds have found themselves on the same side of the fence.
A company has been tapped to build a new passenger ferry for Savannah. Custom Steel Boats Inc. in North Carolina has the $1.5 million contract to build a 67-foot, 150-passenger boat. Once in operation, the ferry will take riders from Savannah's downtown to the International Trade and Convention Center on Hutchinson Island.
The Public Service Commission heard testimony Monday morning from several groups opposed to Georgia Power's billion dollar rate hike request. The PSC's advocacy staff also says the amount is too high. In pre-filed testimony, the PSC staff says Georgia Power should get less than half of what it's asking for.
Unsecured creditors of bankrupt Sea Island Company will get pennies on the dollar for the money they're owed. A federal bankruptcy judge has approved the coastal resort's sale to a four-way partnership of out-of-state investors. The bulk of the company's $212 million sale price will go to secured creditors like banks. Unsecured creditors like retired executives will get just $6 million of the $100 million they're owed.