Lowcountry

Berkshire Hathaway Inc.’s Energy Company to Acquire Dominion Energy’s Gas Transmission and Storage Business

July 5, 2020 by 0 Comments
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DES MOINES, Iowa–(BUSINESS WIRE)–Berkshire Hathaway Energy, a subsidiary of Warren Buffett’s Berkshire Hathaway Inc., today announced it has executed a definitive agreement to acquire Dominion Energy’s natural gas transmission and storage business. The assets include over 7,700 miles of natural gas transmission lines, with approximately 20.8 billion cubic feet per day of transportation capacity and 900 billion cubic feet of operated natural gas storage with 364 billion cubic feet of company-owned working storage capacity, and partial ownership of a liquefied natural gas export, import, and storage facility. The transaction has an enterprise value of approximately $9.7 billion.

“I admire Tom Farrell for his exceptional leadership across the energy industry as well as within Dominion Energy,” said Warren Buffett, chairman of Berkshire Hathaway. “We are very proud to be adding such a great portfolio of natural gas assets to our already strong energy business.”

As part of the transaction, Berkshire Hathaway Energy will acquire 100% of Dominion Energy Transmission, Questar Pipeline and Carolina Gas Transmission; and 50% of Iroquois Gas Transmission System. The agreement does not include the acquisition of the Atlantic Coast Pipeline.

Additionally, the company will acquire 25% of Cove Point LNG – an LNG export, import, and storage facility in Maryland. Dominion Energy will continue to own 50% of Cove Point, with Brookfield Asset Management continuing to own the remaining 25% share. Berkshire Hathaway Energy will operate the Cove Point facility once the transaction closes. The Cove Point export terminal is one of only six LNG export facilities in the U.S.

“This premier natural gas transmission and storage business has been operated and managed in a best-in-class manner,” said Bill Fehrman, Berkshire Hathaway Energy’s president, and CEO. “Acquiring this portfolio of natural gas assets considerably expands our company’s footprint in several Eastern and Western states as well as globally, increasing the market reach and diversity of Berkshire Hathaway Energy.”

“We are honored to be gaining a wonderful group of employees with a wealth of experience that will continue to provide high-quality service for our customers and partners. We look forward to welcoming them to the team,” said Greg Abel, Berkshire Hathaway’s vice chairman, non-insurance operations, and Berkshire Hathaway Energy chairman. “We are fortunate Dominion Energy has entrusted us to preserve and build upon such a remarkable business that will allow Berkshire Hathaway Energy to add $9.7 billion in asset value to the portfolio that currently exceeds $100 billion.”

Thomas F. Farrell, II, Dominion Energy chairman, president, and CEO, said, “Dominion Energy’s best-in-class gas transmission and storage business has been a major component of our success since we merged with Consolidated Natural Gas in 2000. Our talented employees maintain industry-leading operating, safety, and environmental standards to provide our customers with reliable, affordable, and safe service. They will be joining Berkshire Hathaway Energy, an excellent corporate citizen whose leadership and employees share our commitment to values-based service, safety, reliability, and community engagement.”

The transaction is subject to regulatory approvals and is expected to close in the fourth quarter of 2020.

About Berkshire Hathaway Energy

From our roots in renewable energy, Berkshire Hathaway Energy has grown to a $100.8 billion portfolio of locally managed businesses that share a vision of being the best energy company in serving our customers, while delivering sustainable energy solutions. These businesses deliver low-cost, safe, and reliable service each day to more than 12 million electric and natural gas customers and end-users around the world. Our employees pride themselves in putting customers first in all they do, and as a result, our businesses consistently rank high among energy companies in customer satisfaction. Berkshire Hathaway Energy is headquartered in Des Moines, Iowa, U.S.A. Learn more at www.brkenergy.com.

About Dominion Energy, More than 7 million customers in 20 states energize their homes and businesses with electricity or natural gas from Dominion Energy (NYSE: D), headquartered in Richmond, Va. The company is committed to sustainable, reliable, affordable, and safe energy and is one of the nation’s largest producers and transporters of energy with more than $100 billion of assets providing electric generation, transmission, and distribution, as well as natural gas storage, transmission, distribution, and import/export services. The company is committed to achieving net-zero carbon dioxide and methane emissions from its power generation and gas infrastructure operations by 2050. Please visit DominionEnergy.com to learn more.

Forward-looking Statements

This news release contains statements that do not directly or exclusively relate to historical facts. These statements are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements can typically be identified by the use of forward-looking words, such as “will,” “may,” “could,” “project,” “believe,” “anticipate,” “expect,” “estimate,” “continue,” “intend,” “potential,” “plan,” “forecast” and similar terms. These statements are based upon Berkshire Hathaway Energy Company’s current intentions, assumptions, expectations, and beliefs and are subject to risks, uncertainties, and other important factors. Many of these factors are outside the control of Berkshire Hathaway Energy Company and could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from those expectations include the impact of natural disasters and weather effects on revenues and other operating uncertainties, uncertainties relating to economic, political and business conditions and uncertainties regarding the impact of laws and regulations, including laws and regulations related to environmental protection, changes in government policy and competition. The foregoing factors that could cause Berkshire Hathaway Energy Company’s actual results to differ materially from those contemplated in the forward-looking statements included in this news release should not be construed as exclusive and should be considered in connection with information regarding risks and uncertainties that may affect Berkshire Hathaway Energy Company’s future results included in Berkshire Hathaway Energy Company’s filings with the Securities and Exchange Commission, which are available at the Securities and Exchange Commission’s website (www.sec.gov). Berkshire Hathaway Energy Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contacts

Berkshire Hathaway Energy
Media Hotline: 515-242-3022
mediahotline@brkenergy.com

Lowcountry

The Keys to Personal Happiness

July 4, 2020 by 0 Comments
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As we go headstrong into the summertime, reflect on the new life we are leading each day and reflect on our futures, I thought I would provide a little insight on the keys to personal happiness.

Surround yourself with good vibes!

Today I was on Sullivan’s Island Beach with an amazing view of Fort Sumter, sailboats, and children playing in the water. That made me happy. Sunsets on the beach, really good conversations, being part of something successful, a cold glass of milk at night, my family, the view of being above the clouds and many many little things encompass my personal happiness. Find the people, places, and things that truly give you a good vibe and surround yourself with that each and every day.

Put your life in perspective

  • The next time you get cut off and curse at the car
  • The next time a cashier is really slow
  • The next time someone smokes near you without asking
  • The next time you get upset or jealous because someone you know has more money, a better car or a better job…Think before you react.

Ask yourself some simple questions that will help put your sour mood in perspective

  • Do you have your health?
  • Are you surrounded by family and friends that care about you?
  • Do you have a career that gives you value?
  • Do you enjoy the first view of morning dew each day?
  • Do you enjoy long showers or baths?

These are common luxuries and gifts we are given in our lives. Embrace them.

Make Music an important part of your life

Music is such a critical part of our lives.
It affects mood, attitude, and perceptions of love, grief, happiness, and depression.
It is the lyrics and music that develops the memories that we carry with us year after year.
As you take a moment and reflect on your childhood and adult life, you find yourself focusing on the music that defined the time. It is that music that captures and stores your memories in a secure box.
Make the music your own and let it be a part of who you are.

Get to know your community

Today I drove by a community garden. For those that do not know, a community garden is a plot of land developed by communities throughout the United States and overseas to provide low-cost solutions for plants, fruits and vegetables to help combat the recession. With community members banding together to work in unity to build long term healthy gardens in urban communities, it is a testament to the dedication and caring mentality of those that participate.

Go outside and meet your neighbors. Maybe you know them but haven’t been in touch recently or maybe you hideout to maintain that shy persona. Get to know them. Make them a safety net in keeping the area safe and share in the resources and company they can provide. You will be pleasantly surprised by how many incredible individuals live just a few footsteps away.

Laugh, Cry, and Scream once a day!

I would like to paraphrase a legend not only in the world of college basketball but life

Jimmy Valvano stood in front of millions at the ESPY awards just months before having his life taken from him due to cancer. He told the audience to always laugh, think, and cry once a day. There was not a dry eye in the audience.

My spin is simple: Don’t bottle up your emotions. Do not be afraid to express how you feel. Let it out. Whether it be in public or private express the full spectrum of emotions each day. You will feel refreshed, revitalized, and brand new each day.

Think about that; the idea of a new YOU every day…Wow. I love it

I hope you walk away with one piece of advice to take away. Soon you will start seeing a difference in how you view life and more importantly, yourself.

Lowcountry

Charleston, SC Based Aeterna Zentaris Announces Pricing of $12 Million Public Offering

July 2, 2020 by 0 Comments
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CHARLESTON, S.C., July 01, 2020 (GLOBE NEWSWIRE) — Aeterna Zentaris Inc. (NASDAQ: AEZS) (TSX: AEZS) ( the “Company”), a specialty biopharmaceutical company commercializing and developing therapeutics and diagnostic tests, today announced the pricing of a public offering of 26,666,666 units at a price to the public of $0.45 per unit, for gross proceeds of $12 million, before deducting placement agent fees and other offering expenses payable by the Company. Each unit contains one common share (or common share equivalent) and one common warrant to purchase one common share. The common shares (or common share equivalents) and common share warrants included in the units can only be purchased together in this offering but will be issued separately and will be immediately separable upon issuance. The offering is expected to close on or about July 7, 2020, subject to satisfaction customary closing conditions.

H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.

Each common share warrant has an exercise price of $0.45 per share, is exercisable immediately and will expire five years from the date of issuance.

The Company intends to use the net proceeds of this offering for general corporate purposes, which includes, among other purposes, the funding of a pediatric clinical trial in the E.U. and U.S. for Macrilen™ (macimorelin), the investigation of further therapeutic uses of macimorelin and the expansion of pipeline development activities.

The securities described above are being offered by Aeterna Zentaris pursuant to an effective registration statement on Form F-1 (File No. 333-232935) filed with the Securities and Exchange Commission (“SEC”) and declared effective on July 1, 2020. The offering is being made only by means of a prospectus forming part of the effective registration statement. The final terms of the offering will be disclosed in a final prospectus to be filed with the SEC and made available on the SEC’s website at www.sec.gov. Electronic copies of the final prospectus, when available, may also be obtained by contacting H.C. Wainwright & Co., LLC, 430 Park Avenue, 3rd Floor, New York, NY 10022, by telephone at (646) 975-6996 or by email at placements@hcwco.com.

This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sales of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. No Canadian prospectus has been or will be filed in a province or territory of Canada to qualify the common shares or the warrants in connection with the offering.

About Aeterna Zentaris Inc.

Aeterna Zentaris Inc. is a specialty biopharmaceutical company commercializing and developing therapeutics and diagnostic tests. The Company’s lead product, Macrilen™ (macimorelin), is the first and only U.S. FDA and European Commission approved oral test indicated for the diagnosis of adult growth hormone deficiency (AGHD). Macrilen™ is currently marketed in the United States through a license agreement with Novo Nordisk and Aeterna Zentaris receives double-digit royalties on sales. Aeterna Zentaris owns all rights to macimorelin outside of the U.S. and Canada.

Aeterna Zentaris is also leveraging the clinical success and compelling safety profile of macimorelin to develop it for the diagnosis of child-onset growth hormone deficiency (CGHD), an area of significant unmet need.

The Company is actively pursuing business development opportunities for the commercialization of macimorelin in Europe and the rest of the world, in addition to other non-strategic assets to monetize their value. For more information, please visit www.zentaris.com and connect with the Company on Twitter, LinkedIn and Facebook.

Official Press Release

Lowcountry

Sonic Nights: Why a night at Sonic may be one of the best things you can do in Charleston right now

June 29, 2020 by 0 Comments
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By Mark A. Leon

It was a cinematic dream; an addictive show you couldn’t stop watching; it was Charleston meets “Dazed and Confused”. This was the scene at Sonic on Folly Road on James Island Sunday night. Over a Signature Cherry Limeade and Strawberry Lemonade and the comfort of our car, we enjoyed a remarkably entertaining night of people watching.

With limited access to parks, malls, or movie theaters, the entire high school community, and remnants from Folly Beach congregated to Sonic for drinks, food, dancing, laughing, and just an all-around sense of togetherness.

The high school boys sported their floppy hair and baseball caps, patterned shorts from Brooks Brothers while leaning on their trucks trying to impress the girls. The girls laughed but appreciated the attention and boyish charm of their admirers.

Directly in front of us, one of the high school boys lifted the hood of his oversized status symbol to check the oil while three others played a game with the tennis balls hanging off the back of their trucks.

Another group danced in the median while the cool friends just watched with their hands in their pockets.

All throughout, you can sense and see the wandering eyes knowing many are thinking “is this the best it will ever be?”.

There was a sense of nostalgia last night. As much as things change, so much stays the same. It was a carefree feeling that left us smiling from cheek to cheek.

Thank you Sonic and to the next generation for finding comfort in the simple things and appreciating all your relationships.

Lowcountry

Why is New York winning the war on COVID-19 while the Carolinas struggle for answers? – Commentary

June 28, 2020 by 3 Comments
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By Mark A. Leon

The narrative has changed. Several months ago, New York, New Jersey, and Connecticut were the apex of the COVID-19 spike. North and South Carolina required anyone coming to the Carolinas from one of these hot spots to self-quarantine for 14 days by the state government agencies.

Last week, all that changed, and now anyone coming from the Carolina’s to New York requires a self-quarantine for 14 days. Why did this flip? Was it strength in leadership, better protocols, or hundreds of years of history? To put some context around this, we must look at the numbers first:

  • The population of New York State is 19.45 Million
  • North and South Carolina combined population is 15.64 Million (80% of New York’s population
  • In the last 7 days, the number of new confirmed cases daily in New York is 20% of the number in the Carolinas
  • Based on raw numbers and percentage of the population, the apex of the spike has shifted

Back to the question of why? Why is New York trending toward recovery and the Carolina’s setting us back? The answer rests in the value of community and cultural origins

Community

Western Europe is a melting pot of cultural and religious communities each with unique traditions, values, and beliefs, but when the pandemic became a global issue that affected everyone, each and every country bonded together for the common good of minimizing the risk of spread. It was not about wealth, status, or economics, but sustainability for the future of the whole.

While Western Europe is trending in a positive direction due to collective isolation and adhering to a collective principle of a sense of community first, the United States is trending in a negative direction.

We now have to look at origins and how New York has closely carried the ideology of Western European life into the framework of their daily existence today.

Cultural Origins

New York City built its roots from communities seeking freedom from religious persecution and cultural bias. Most were poor and disenfranchised who sought a place where they can value freedom and work hard to rebuild. New York became individual pockets of communities, proud and rich in tradition, hope, and faith with the common goals of sustaining their roots and building a home free from adverse surroundings.

The central theme of each neighborhood was that the whole was stronger than the parts. In times of need and adversity, it was the collective sense of the whole greater than the parts that maintained that strength and passion for perseverance. From the Gangs of New York to Harlem Nights to Jewish roots on the Lower East Side, New York City has co-existed in its differences and thus its unspoken commonalities.

Now let us move 600 miles south.

The Carolinas began to lay a foundation very differently. It was a land vast and pure with untapped resources and land for all the eye to see. It caught the eye of rich proprietors that purchased land unseen and utilized capitalistic thinking to build empires centered around wealth and fortune.

The early settlers of the Carolina’s did not escape persecution or seek a community-based sense of belonging. These were wealthy land owners that settled lands through the slave trade system, cropped natural resources, and built the new empire stained by greed. There was no common struggle that brought a sense of community.

Why is the South failing while the North is beginning to recover from the spread of COVID-19?

Both New York and the Carolinas have implemented protocols, though some less strict than others, but the cultural make-up of each region is the underlying variable on why one region is succeeding while the other is struggling.

Families, neighborhoods, churches, temples, and cultural traditions are all factors that contribute to an idealogy that in times of need, lead a collective action to stick together to overcome adversity. Throughout history, the world has faced enemies head-on and it is those pure of heart that put the greater good ahead of themselves that come out victorious.

The Carolinas and other parts of the country must release themselves from the roots of their “me first” traditions and find a way to seek out community in order to overcome this latest enemy. We have a common adversary, so we must have a unified front to see a pathway that leads us back to a life of normalcy.



Lowcountry

To commemorate the 140th anniversary of the birth of Helen Keller, here are some of her most famous and important quotes

June 27, 2020 by 0 Comments
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Today would have marked the 140th birthday of one of the most courageous spirits in history, Helen Keller. Helen was born on June 27, 1880, in Tuscumbia, Alabama, and became one of the most inspiring figures in American history.

To commemorate her birth, here are some of her most memorable quotes:

Life is either a daring adventure or nothing.

Alone we can do so little; together we can do so much.

The best and most beautiful things in the world cannot be seen or even touched – they must be felt with the heart.

Keep your face to the sunshine and you cannot see a shadow.

Although the world is full of suffering, it is also full of the overcoming of it.

Optimism is the faith that leads to achievement. Nothing can be done without hope and confidence.

When one door of happiness closes, another opens; but often we look so long at the closed door that we do not see the one which has been opened for us.

What we have once enjoyed we can never lose. All that we love deeply becomes a part of us.

The only thing worse than being blind is having sight but no vision.

Life is a succession of lessons which must be lived to be understood.

“No one has a right to consume happiness without producing it.”

“No pessimist ever discovered the secret of the stars, or sailed to an uncharted land, or opened a new doorway for the human spirit.”

“True education combines intellect, beauty, goodness, and the greatest of these is goodness.”

“When we do the best we can, we never know what miracle is wrought in our life, or in the life of another.”

“Faith is the strength by which a shattered world shall emerge into the light.”

“We can do anything we want to do if we stick to it long enough.”

“It is said that success is happiness. I think goodwill and service to all men are the true kind of happiness.”

“Life is a succession of lessons which must be lived to be understood.”

“The best and most beautiful thing in life is the friendship that springs out of the heart, as fragrances out of the flower.”

Lowcountry

PTSD Awareness Day is June 27, 2020 – Here are some resources for those affected

June 26, 2020 by 0 Comments
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PTSD can affect us at home or abroad. It has impacted millions of Americans with many resulting in suicide. It is difficult for many of us to imagine bearing witness to a traumatic event and having to deal with the anxiety, nightmares, depression, and mental health issues it can bring on, but there are resources to help.

As part of PTSD Awareness Day, we wanted to share some valuable and most free resources if you or someone you know is suffering from PSTD. Together we can comfort and begin to heal.

Lowcountry

13 Quotes about life, love, and meaning (Just when we really need it)

June 25, 2020 by 0 Comments
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“When you look deep into the eyes of another and look past the physical differences, you will see a light kindling in the soul burning the flame of life’s purpose and then you will know we are all alike driving by the simple pursuit of love” – Unity

“Time may pass and distance will create barriers, but when I close my eyes and extend my hand, I can feel your fingers between mine. Friends feel your pain with the skip of a heartbeat and know when you need saving. It is a blessing to be surrounded by this energy flow of love.” – Friendship

“Love is the culmination of the pure connection between two souls that starts with the simplicity of a smile and ends with a promise of an eternal bond. Love is power without prejudice, fear, or judgment. It is the one core energy that fuels our existence and gives us the strength to achieve our dreams.” – Love

“When the world was created, there need to be a bed to rest your head and open arms to hold you close: there was family. There needed to be a place to laugh and cry and feel the strength of emotional freedom: there was family. There needed to be a place to call home no matter how lost you got in life: there was family. There needed to be a foundation for unconditional love and acceptance: there was family. There needed to be a group the cheered you on in completion, lifted you up when you were down and always smile at every turn: There was family” – Family

“You are my shelter from the cold. In a world of dreams floating like clouds over a horizon illuminated by the warmth of the sun, you are the vessel drifting through the sky showing the world with a rainbow of love. You protect me from fear, bath me with rain, caress me with your touch and excite me with the sexual spirituality of the mind and body. I breathe you in and am intoxicated with your enchanting passion.” – Passion

“Sometimes the moment seizes you. It takes hold of your senses and showers you with an explosion of life’s wonders. Let go. Don’t be a hero, don’t be a savior, don’t be a martyr. Just be. The moment will take over the rest.” – Moments

“Life is a tapestry of hope, desire, pain, love, heartache, and passion woven with flesh and blood to create the gift of humanity. To find balance; find ease is the potion that will run through your body fueling your existence and laying the groundwork for your legacy.” – Life Balance

“You are my best friend because you let me fly while still keeping me grounded. You never let me forget to dream. You dance with me like no one is looking. You get dirty with a rainbow of possibility. I share my world with you because you get me and my weirdness. With you, I can change the world hand in hand. For the laughter, tears, hope, and fears, I Love You.” – Friendship

“When you open your heart and allow it to be broken and shattered like precious glass, then and only then will you feel the passion and ultimately feel alive” – Vulnerability

“At the end of the day, it is about laughter and the connection.” Think about it. Nothing purer, more real, and more fulfilling. – Laughter

“Nothing great happens when you hold back. Surrender to your feelings” – Risk

“Sometimes the brightest lights come from the darkest places. Find your light and shine.” – Adversity

“Mommy, I love how you tell me a story every night and open up my imagination as you tuck me in and kiss the ghosts away. I love how you smile when I run up and jump on you for my first hug of the day. I love how you think I am the best painter, dancer, and singer in the world. I love how you think I am your greatest gift. Most of all, I love that whatever mistakes I make, you never stop loving me.” – Motherhood

All original quotes by Mark A. Leon

Lowcountry

David W. Sox, MD shares a beautiful family portrait from 1956 and an incredible Charleston story that dates back to 1900

June 24, 2020 by 0 Comments
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A picture can tell a thousand words or at least an incredible Charleston story whose origins date back 120 years.

Origin and history of the image

Willie and Viola Zobel were married in 1900, in a home on Spring Street. They had five sons and two daughters.

  • William
  • Rudolph
  • Alvin
  • Raymond
  • Eugene
  • Lucille
  • Helen

All are in the picture except for the youngest son, Eugene, who was always the photographer.

There were fifteen first cousins, twelve of whom are in the picture. The other three were older and away in military service or summer employment.

The location of this image is Folly Beach. in front of the beach house of Captain William Zobel, on Arctic Avenue, and the picture was taken in 1956.

Of the twelve cousins in the photo, nine remain alive. The oldest living cousin is 92 and healthy. not in the photo.

Longevity is a Zobel family trait. Willy and Viola lived to 89 in the age before there were treatments for cholesterol, hypertension, or other conditions. All their offspring are deceased but Lucille and Helen lived to 98 and 97, several of the brothers well into their 90’s as well.

David is the skinny kid in the middle of the front row, plaid shirt, holding my Brownie Hawkeye camera in the right hand.

Willie Zobel and his brother were in the house demolition business in the early 1900s when many Charleston homes were already centuries old and dilapidated.

In the photo, Captain. (US Navy) William Zobel, the owner of the Folly Beach house, is in the upper left. His only son Billy attended Citadel and then the USN Academy, attained the rank of Admiral, and is the oldest cousin retired in Virginia Beach at 92.
Willie and Viola had their 50th wedding anniversary in 1950. That weekend, a picture of the available cousins was taken in the Zobel home at 25 Peachtree Street. 65 years later, we had a brief reunion on the Edisto near my sister’s home in Denmark.


About David W. Sox, MD

  • David is a 76-year-old retired physician, MUSC Class of 1969. He recently attended the 50-year reunion.
  • David resides in Roseville, CA but will always consider South Carolina his home.
  • David was coached by the great John McKissick in Summerville (track), born in old Roper Hospital.
  • He is the son of Helen Zobel Sox who was the last of her generation and died in 2011.

Story and image courtesy of David. W. Sox, MD