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Charleston Port Business Up But More Investment Needed

Mike Switzer
Mike Switzer

  The Port of Charleston, SC has made a comeback in cargo and earnings since the Great Recession. Over the past five years, revenue is up 75%, pier containers are up 48% and earnings are up 357%. But our next guest says that if the port is to remain a top 10 container port in the United States, it needs to invest in better infrastructure for the massive ships of the future.

Mike Switzer interviews South Carolina State Ports Authority president and CEO, Jim Newsome, in Charleston, SC.

After almost 20 years, Mike Switzer retired from Wells Fargo Securities in 2001 as Senior Vice President/Investment Officer and Certified Portfolio Manager. In 1999, he and his wife, Maggie, purchased and operated for eight years the Baskin Robbins ice cream store on Forest Drive in Columbia. They grew the store from a bottom-tier operation in the Baskin Robbins franchise system to one in the top 5% nationwide within three years, tripling sales along the way. While operating the ice cream store, Mike and Maggie received patents for a portable ice cream sink and fold-down sneezeguard they invented and in 2002 started Magnolia Carts, an ice cream cart manufacturing company, which they sold in 2013.