The economic downturn has cost the endowments of the University of South Carolina and Clemson University a total of $156 million in the past two years. The State reported Friday that Clemson’s endowment was worth about $331 million on June 30, a drop of 23 percent since 2007.

Shoppers all over the Peach State hit the stores to take advantage of the 8th sales tax holiday. School supplies, clothes, computers and accessories are all exempt from state and local sales taxes through Sunday. But, with Georgia having severe funding issues, is the state being generous to a fault? WJBF News Channel 6’s George Eskola has the story.

The Georgia World Congress Center’s loss for last fiscal year was worse than projected, and it is only expected to worsen this year. The 3.9 million square-foot conference center campus in downtown Atlanta lost $1.3 million in the fiscal year that ended June 30. It’s the first budget decline for the expansive center since 2005.

President Barack Obama says unemployment is likely to tick up for several months as the economy recovers from its deepest downturn in decades.

Georgia Gov. Sonny Perdue said he would veto a sweeping new tax break that would slash the state’s capital gains tax in half over two years. Perdue said Monday adopting the tax breaks was “unattainable” amid the economic downturn.

President Barack Obama says job-creation in America is difficult in a time of economic hardship and that the work of the future should be in more high-paying, high-skill areas like clean energy technology.

Georgia lawmakers are making sure homeowners don’t feel more pain on their property taxes. Tuesday the legislature passed a budget which includes money that will help save tax relief grants. Count on WJBF News Channel 6’s Fraendy Clervaud. He has the report from Wall Street to your Wallet.

A top economics adviser to President Barack Obama says the $790 billion stimulus plan set for a final congressional vote will help, but that it isn’t a “silver bullet” to cure the problem.

Bank of America is selling some of its corporate aircraft fleet as the bank looks to scale back costs. Many financial firms are giving up private jet travel as scrutiny mounts over lavish spending after the companies received billions of dollars in rescue funds.

It turns out, not even the Post Office is safe from the economic downturn. One less day of mail service could be the solution. So, how soon could this begin? WJBF News Channel 6’s Barclay Bishop tries to find out.

South Carolina organizers say they don’t know if the impact of the current recession will show up in this year’s count of the homeless.

Georgia House lawmakers have approved a bill that would fund a property tax break worth an average of $200 to $300 per household. But the legislation would eliminate the relief in future years if the economic downturn continues.

The Federal Reserve says the economy has weakened further and signaled it will keep a key interest rate near zero for quite “some time” to cushion the fallout.

Home Depot Inc. says it’s cutting 7,000 jobs and closing its smaller Expo chain as the recession continues to batter the nation’s housing market.

Home Depot Inc. says it’s cutting 7,000 jobs and closing its smaller Expo chain as the recession continues to batter the nation’s housing market.