Insurance, financial advisers to meet
The local chapter of the National Association of Insurance and Financial Advisors will host its regular monthly meeting at 11:30 a.m. Thursday at the City Club of Rock Hill, 140 E. Main St.
Walt Trammel, the NAIFA state representative, will speak on activities at the state level. After the meeting, Trammel will provide a one-hour class on ethics. Anyone in the insurance and financial services industries is welcome to attend the meeting. The class is free for NAIFA members and $10 per hour for nonmembers.
For more information, call Caroline Eller at (803) 517-4399.
Workforce Center to reopen on Fincher Road
The Rock Hill Employment Security Commission Workforce Center, currently located at 546 S. Cherry Road, will close at 5 p.m. Friday and reopen at 8:30 a.m. Tuesday in its permanent location at 1228 Fincher Road, Rock Hill.
The move is being made after completion of maintenance at the Fincher Road facility. For details, call the center at 328-3881.
Yorktown Village to host after hours event
YORK -- The Greater York Chamber of Commerce's Business After Hours event will be from 5:30 to 7:30 p.m. Thursday at Yorktown Village Assisted Living Facility at 40-42 Ross Cannon St.
Two Lancaster chamber events set for Thursday
LANCASTER -- The Lancaster County Chamber of Commerce Business After Hours and membership meeting will both be Thursday in Lancaster.
AgSouth Farm Credit Mortgages and Chick-fil-A will co-sponsor the first Business After Hours of 2008.
The free kickoff event will be from 5:30 p.m. to 7:30 p.m. Thursday at the Bradley Arts and Sciences Building at USC-Lancaster. Business After Hours is for chamber members and their employees.
The first 2008 membership meeting of the chamber is set for 8 a.m. Thursday at the Council Chambers of the City of Lancaster.
Speakers will be the 2008 Chamber chairman Jay Rainey and chamber president Dean Faile. They will outline the chamber's 2008 Program of Action and highlight activities planned for the year. The free meeting is open to chamber members. Light refreshments will be provided.
For more information about either event, contact the chamber at (803) 283-4105.
Triplett-King promotes Heidi Gremillion
Triplett-King & Associates recently promoted Heidi Gremillion, a former part-time employee, to full-time employment.
Gremillion, who graduated from Winthrop University with a bachelor's degree in integrated marketing communications, has been with Triplett-King for three years, serving as the administrative assistant and marketing intern. Her new position is marketing & administrative assistant. Gremillion will assist with marketing materials and literature, design and layout of proposals, Web site maintenance and human resource administration.
Triplett-King, which recently celebrated its 10th anniversary, is a local civil engineering consulting firm, specializing in the design of highway bridges, roadway designs, construction engineering inspections services and intelligent transportation systems.
York Chamber's annual meeting to be Friday
YORK -- The Greater York Chamber of Commerce will host its annual meeting at 8 p.m. Friday at Spring Lake Country Club in York. For details, call 684-2590.
Winfrey to head network in deal with Discovery
NEW YORK -- Oprah Winfrey is getting her own TV network.
OWN -- for Oprah Winfrey Network -- will debut next year in nearly 70 million homes with cable and satellite, part of a deal announced Tuesday with Discovery Communications. It will replace the Discovery Health network.
Winfrey will be chairwoman of the network, owned 50-50 by Discovery and her company, Harpo Productions. In return for taking over a network already operated by Discovery, Winfrey gives half ownership of the Oprah.com Web site.
Winfrey envisions the programming dealing with issues such as money, health, weight, relationships and raising children. Some of the stable of in-house experts she uses on "Oprah" and the XM satellite radio station might be expected to contribute.
Bank of America curbs investment banking
CHARLOTTE -- Bank of America said Tuesday that it was scaling back its investment banking operations, shedding an additional 650 jobs after suffering heavy trading losses from bad mortgage investments.
The layoffs will be on top of 500 jobs that were eliminated in mid-October, when Bank of America executives signaled plans for a retreat. Together, the cuts represent about 19 percent of the investment bank's 5,900 employees.
Executives said they would reduce coverage of certain investment banking customers and narrow the services it provides to corporate clients overseas. They are narrowing their trading activities, scaling back their presence in packaging the mortgages and other complex securities that have been hit hardest by a tightening credit market.
Bank of America also plans to sell its prime brokerage unit, which faced steep competition and huge investment requirements. The hedge fund Citadel Investments, which has a big prime brokerage arm, has been reported to be interested in the business.
Low retail sales seal sad holiday store season
WASHINGTON -- Consumer spending, the critical bulwark that has kept the country out of recession, is showing signs of cracking. Retail sales plunged by 0.4 percent last month as consumers handed retailers their worst Christmas in five years. Consumers have been battered by a sinking housing market, rising unemployment and the credit crunch.
The Commerce Department's sales report Tuesday was just the latest in a string of weaker-than-expected numbers that have economists worried that the current economic expansion, now in its seventh year, could be in danger of faltering.
Citigroup sees $10 billion loss in fourth quarter
NEW YORK -- Bad bets on mortgages led to a $10 billion loss for Citigroup in the final quarter of last year, the largest in its 196-year history. As a new wave of weak economic data intensified fears of a recession, the nation's biggest bank also cut jobs, slashed its dividend and turned to foreign investors for an infusion of cash.
The biggest hit came from a $18.1 billion write-down in the value of its investment portfolio. But the bank also set aside $4 billion on Tuesday to cover anticipated losses on loans to U.S. consumers -- a sign that deflated home prices, high energy and food costs, and rising unemployment are making it difficult for many customers to keep up with their payments.
Fax news to Adam O'Daniel at 329-4021; mail The Herald, Business News, P.O. 11707, Rock Hill, SC 29731; call 329-4069; or e-mail email@example.com.