Business news

Goodale House will benefit from grant


Historic Augusta has received an intervention grant from the National Trust for Historic Preservation for the Goodale House east of downtown.

The $5,000 grant will be used to develop a stabilization plan and a structural analysis to help determine what needs to happen to properly restore the building at 745 Sand Bar Ferry Road, according to a Wednesday announcement.

The building’s structure was compromised a year ago when the west wall and chimneys collapsed. Owner Wes A. Sims said he’s been working to maintain the rest of the building, but restoration has been at a standstill because this type of analysis needed to be done before construction could proceed. That costs money he does not have, he said.

Penney changing its pricing again

NEW YORK — J.C. Penney is changing its pricing – again.

Just six months after the mid-priced department store chain got rid of the hundreds of sales it offered each year in favor of everyday lower pricing, it is reversing course.

Penney on Feb. 1 began using a three-tier pricing approach that called for consistently lower daily prices, month-long sales and periodic discounts on merchandise throughout the year. But starting Aug. 1, Penney will eliminate one of the monthly sales and bring back the word “clearance.” Penney also plans to tweak its advertising to better communicate the pricing plan to customers.

Facebook earnings good; stock drops

NEW YORK — Facebook’s first earnings report as a public company had solid numbers, but in the end it landed with a thud – much like its rocky initial public offering two months ago.

Facebook reported stronger-than-expected revenue and a gain in user numbers Thursday. But investors weren’t impressed and after a brief spike, its stock fell more than 10 percent, or $2.74, to $24.10 in after-hours trading. The decline means Facebook’s stock will most likely open at its lowest level since going public

Revenue grew 32 percent to $1.18 billion from $895 million a year ago. Adjusted earnings of $295 million, or 12 cents per share, matched Wall Street’s expectations.

Facebook said it had 955 million active monthly users as of June 30, up 29 percent from a year earlier.



Wed, 12/13/2017 - 13:35

Four arrested after burglary in Aiken