Originally created 12/02/99

Business briefs: Department store coming to Augusta

Mansour's, a family-owned department store chain, confirmed Wednesday that it will build a 65,000-square-foot store in Augusta Exchange shopping center.

The store is scheduled to open by August. It will be the LaGrange, Ga.-based company's fifth and largest store.

The company also has stores in Columbus, Macon and Albany. The privately held company is owned by the Mansour family and sells women's and children's clothing and shoes.

Construction permit values rise

A report tracking new construction in the Augusta area shows that the permit values of residential construction went up 12 percent in October from the same month one year ago.

The report, released Wednesday by McGraw-Hill, calculates the values for Columbia, McDuffie and Richmond counties in Georgia, and Aiken and Edgefield counties in South Carolina.

The permit values in October were about $33.6 million, up from about $30.1 million the year before. The values were also up when comparing values from January to October. They were $344.5 million in 1999 and $309.7 million in 1998, an 11 percent increase.

Financial firm to cut offices, jobs

COLUMBIA -- Resource Bancshares Mortgage Group Inc., suffering from a sharp downturn in lending, is closing 14 offices and eliminating 242 jobs in a restructuring to boost profitability.

The reorganization is expected to save about $16 million a year in operating expenses. The Columbia-based financial services company will close branches in Chicago; Columbus, Ohio; Detroit; Greensboro, N.C.; Houston; Las Vegas; Orlando, Fla.; Phoenix; Rockville, Md.; Dallas and Seattle.


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