Government ownership of Charleston's ports losing its luster

Image by Flickr user willia4Image by 20080901portgold.jpg Politicians say all that glitters is not gold, at least when it comes to The S.C. State Ports Authority.

Update December 31: The Charleston Regional Business Journal's link has gone dead. Head, here, instead.

First reporting: Despite record-breaking earnings, the worse-than-average drop in shipping business have some state lawmakers advocating privatization of the State Ports Authority.

The Charleston Regional Business Journal reports on the issue, saying:
The prevalent business model across the country is for governments to own terminals that are leased to private companies. Gov. Mark Sanford floated the idea as Georgia and South Carolina inked a plan to jointly own a terminal in Jasper County.

Some lawmakers also feel that privatizing the port could help free the state from paying for costly infrastructure improvements needed for port expansion.

In the past, the State Ports Authority has been a vehement opponent of private ports operating in the state.

Go read more at The Charleston Regional Business Journal.

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