A positive in the pandemic

Around Town
Posted 2/25/21

A retired CEO has started a Lexington County business to fight covid-19.

An urge to help with covid-19 brought Doyle McBride out of retirement.

McBride, 72, sold IAP Worldwide for millions …

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A positive in the pandemic

Posted

A retired CEO has started a Lexington County business to fight covid-19.

An urge to help with covid-19 brought Doyle McBride out of retirement.

McBride, 72, sold IAP Worldwide for millions 15 years ago.

Now he has opened Lexington County’s DEM Logistics offering masks, jackets and chemical cleaners to halt the virus’ spread.

In 9 months, the company has grown to nearly $6 million in sales with 7 employees.

IAP Worldwide was a government contractor with $250 million in sales when he sold it to private equity firm Cerberus Capital Management in 2004 but did not retire until 2011.

By then, the company had acquired several others and had up to $1.5 billion in annual sales.

Lawmakers probe GameStop

Did you gain or lose in the GameStop stock frenzy?

The video game retailer’s shares soared last month above $480, from $18.84. An army of traders exhorted each other online to buy shares to squeeze hedge funds shorting the stock.

The House Financial Services Committee wants to know what happened, if it was legal and if stock laws and regulations need changing.

This has led to questions about the market’s integrity and set off federal probes into possible market manipulation.

First Community Bank names new president

Ted Nissen has been named president of Lexington-based First Community Bank.

The board said Nissen, chief banking officer and executive vice president, will take on a newly established role.

He will work side by side with CEO Mike Crapps in setting the banks’ strategic direction.

Nissen is a founding member of the bank’s Executive Leadership Team with more than 25 years service.

His leadership resulted in the bank reaching $1.4 billion in total assets with a high quality balance sheet.

“Ted is the heart and soul of First Community Bank,” said Crapps. “He carries our cultural flag in every way and is committed to our clients’ success be it a new business venture, expansion or simply helping navigate these challenging times.”

Cleary joins Southen Shores

Dr. Todd Cleary, DMD, has joined Southern Shores Dental in Lexington.

He is a native of Lexington and is excited to return to his hometown and bring his expansive dental knowledge to Southern Shores Dental. He graduated from Lexington High School and went on to receive his Bachelors of Science in Finance and Management from The University of South Carolina and furthered his education by completing a year long Graduate Program in Biomedical Sciences at The University of South Carolina School of Medicine in Columbia, SC. Dr. Cleary then went on to complete his doctorate of Dental Medicine at The Medical University of South Carolina in Charleston. While in dental school, Dr. Cleary was awarded, “2019 Best of the Best Prostodontic Student” by the Oral Rehabilitation Department at MUSC.

Hollow Creek Distillery expanding

Hollow Creek Distillery in Leesville will undergo a 5,000 sq.-ft. facility expansion. An 800-gallon capacity still will be a new feature in the expansion.

Craig and Meredith Amick opened Hollow Creek in 2015 and in their six years of business, the couple has added eight flavors of moonshine to their menu including sea salt and caramel, pumpkin pie, watermelon and peach, and peppermint.

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