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The National Observer: Here's where the money lives
Welcome to The National Observer, a roundup of top business news and actionable insights from across The Business Journals network of publications. Today,y we've got stories on the rising number of towns in which the median home costs more than $1 million; the interest office tenants are taking in their landlords' financial situation; and plans for a multibillion-dollar supercomputer complex by Elon Musk. But first, here's our inaugural list of the ZIP codes with the greatest concentrations of wealth in the U.S.<\p> Get more stories like these every day in your inbox by subscribing to The National Observer newsletter.<\p>
Millie's partners with Eat'n Park for limited edition ice cream
The Eat'n Park experience is now available in ice cream form, including the salad bar.<\p> Eat'n Park has partnered with Millie's Homemade Ice Cream to produce a limited edition run of four ice cream flavors.<\p>
Hitachi Rail acquires company for $1.8 billion
Hitachi Rail, a global transportation company with North American headquarters in Pittsburgh, has recently acquired Thales’ Ground Transportation Systems. <\p> The acquisition was completed on May 31, 2024 for $1.8 billion. Hitachi Rail, which is behind Japan's high speed bullet train, said in a release that the deal will strengthen its focus on shifting customers from private to more sustainable public transportation and expand its global presence to 51 countries.<\p>
Big deadlines loom for Realtors commission lawsuits
The class-action lawsuits that rocked the residential real estate industry over the last year are barreling toward a possible conclusion — and some big changes in the remainder of 2024. <\p> One of the most important deadlines is Aug. 17, 2024, when the NAR has said it would implement a series of changes as part of its own $418 million settlement agreement over buyer commissions. <\p>
PPi Automotive, 50-year-old family business in Pittsburgh, is sold
For 50 years, PPi Automotive — short for Professional Parts Inc. — has served the Pittsburgh region as an independent, family-owned and operated auto parts distributor that operated three warehouses. That continues, but now the business is part of a bigger company.<\p> Cleveland-based Transtar Holding Co. has acquired PPi.<\p>
How Peoples, H Quest want to inexpensively integrate hydrogen here
Peoples and Pittsburgh startup H Quest are working on the next step in the energy transition, a device that takes natural gas to create hydrogen that can be used as heat and power in industrial buildings and residences with a byproduct of a solid carbon that can be used for industrial purposes.<\p> Peoples and H Quest along with the Swanson School of Engineering at the University of Pittsburgh have been working for the past year or so on a demonstration project at Peoples' training center in McKeesport. H Quest's technology, which has a footprint in similar size to a shipping container, converts ordinary natural gas into hydrogen and carbon without emissions, using a process known as microwave pyrolysis.<\p>
Gen Z cites housing affordability as its top election issue
In the wake of rapid home-price appreciation during the Covid-19 pandemic, housing is playing a bigger role in how Americans vote — among one demographic in particular.<\p> Ninety-one percent of adult Gen Zers said in a recent Redfin Corp. (Nasdaq: RDFN) survey housing affordability is important when considering whom they will vote for in the presidential election this November. Among a list of nine broad political topics, the subject ranked No. 1 for that generation — ranking even higher than the strength of the overall economy, which was the top priority for millennials, Gen Xers and baby boomers. Housing affordability for Gen Z respondents also outranked issues of education, gun rights and abortion rights.<\p>
Pittsburgh ranked third highest paying metro for AI engineers in U.S.
Pittsburgh was named the third highest paying metro for artificial intelligence software engineers, earning a median pay of $243,650 annually. The report comes from salary analysis company Levels.fyi.<\p> Pittsburgh was only beaten by the San Francisco Bay area, where employees earn a median of $318,150 annually, and Seattle, where the median was $310,000 annually. Directly underneath Pittsburgh was New York City, with a median of $242,667.<\p>
Michael Baker International grows through acquisitions
Michael Baker International is growing its business with recent acquisitions.<\p> The Pittsburgh-based engineering and consulting firm announced it had acquired Digital Data Technologies Inc., Infinity MEP+S Consultants, and Gavan-Graham Electrical Products.<\p>
Nemacolin’s newly renovated Chateau is more luxurious than ever
Those looking to escape Pittsburgh this summer now have the option to stay at Nemacolin Resort’s newly-renovated largest hotel, The Chateau.<\p> A press release describes the hotel as a Ritz Paris-themed building meant to “transcend guests back in time to 18th-century France.” The space, it says, aims to embody historic garden romance and is replete with luxurious fabrics, crystal chandeliers and a live harp player. <\p>
Pittsburgh Technical College in ‘danger of imminent closure'
According to the Middle States Commission of Higher Education, the accrediting agency that placed Oakdale-based Pittsburgh Technical College on probation several weeks ago, the institution is in “danger of imminent closure.” <\p> MSCHE on Thursday alerted Pittsburgh Technical College that it would need to “show cause,” by June 28 why its accreditation should not be withdrawn. The action comes following a team visit by representatives of the commission to the campus in May.<\p>
The Steelers are hosting the 2026 NFL draft: What comes next?
How do you eat an elephant? Aficionados of terrible jokes know the answer to that is, of course, “one bite at a time.”<\p> As it turns out, the answer to the question, “How do you put on an NFL draft?” might not be all of that different. Like any gargantuan task, completion starts bit by bit.<\p>
Pitt Law names executive director of Professional Development Office
The University of Pittsburgh School of Law has appointed Kellie Ware as the executive director of the Professional Development Office.<\p> Ware, well known in the local legal community, oversees day-to-day operations and engages with employers across various sectors in her new post. She also provides student counseling and develops programming to enhance their professional skills.<\p>
Votruba-Drzal's Viewpoint: Time to scale sustainability disciplines
In today’s rapidly evolving global business landscape, customers are looking to companies to take a leadership position in sustainability – providing solutions that enhance productivity and drive environmental stewardship throughout the value chain. Sustainability can no longer be a bolt-on or optional activity, nor is it solely driven by dedicated sustainability teams.<\p> Certainly, these teams are responsible for shepherding the overall sustainability strategy, targets and focus areas for an organization, but now is the time to scale sustainability disciplines more broadly and ingrain them into how companies operate, go to market and serve customers.<\p>
Why this Pittsburgh-based biotech firm had a strong week
BlueSphere Bio, a UPMC Enterprises spinout and Pittsburgh-based drug development company, logged a big week in its development with a clearance from the U.S. Food and Drug Administration and a collaboration with the National Cancer Institute.<\p> The company received investigational new drug approval to begin clinical trials and the first human dosing of a cell therapy to treat leukemia. The T-cell receptor therapy, known as BSB-1001, was developed from its own development platform known as TCXpress that analyzes millions of T-cells to determine a molecule that can treat oncological and other conditions. The T-cells are killer cells that are designed to eliminate cancerous cells in the body, based on a certain characteristic or type of cell.<\p>
Weaver Industrial gets PIDA loan for 2 new warehouse/office buildings
Weaver Industrial Inc., which is constructing two buildings at Bushy Run Corporate Business Park in Export, was approved for a PIDA loan though the Economic Growth Connection of Westmoreland.<\p> The 10-year, $844,680 loan at a 4.25% reset interest rate was announced by Rick Siger, secretary of the Pennsylvania Department of Community and Economic Development. Weaver Industrial, a real estate development firm, will use the loan to assist in the construction of two 12,000-square-foot, single-tenant warehouse/office buildings. The total project cost is $2,111,700, and the buildings already have prospective tenants. It is expected that 27 new, full-time jobs will be created.<\p>
Mr. Magic Car Wash cleans up with latest deal, enters Ohio
Pittsburgh-based Mr. Magic Car Wash has acquired Coates Car Care, entering Ohio and bringing its total number of sites to 23 across three states. <\p> Coates, based in Niles, Ohio, added six locations — five in Ohio and one in Hermitage, north of Pittsburgh — and 99 employees, increasing active employment by about one-third to 305.<\p>
This 186-acre estate in Burgettstown is for sale for $2.5M (photos)
An estate property in Burgettstown in Hanover Township is currently for sale for $2.5 million.<\p> The property, located at 341 Paris Colliers Rd., totals 186 acres. It is listed for sale with Elaine Shetler-Libent of Keller Williams Realty. <\p>
Three Rivers Arts Festival boasts new layout this year
It took a four-hour drive across Pennsylvania, over $1,000 for accommodations and an almost-sleepless night setting up his tent, but by midday on June 5, Neil Claypoole was finally ready to start selling handmade wooden spoons at the Dollar Bank Three Rivers Arts festival.<\p> Having made it through the always-chaotic load-in process, the second half of the festival, which runs May 31-June 9, is now in full swing. Those who stopped by during its first six days can go back this weekend and see an entirely new set of artist's work. Vendors say they expect a successful weekend of sales as organizers try to return the festival to its pre-pandemic success and experiment with a new layout.<\p>
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