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Pittsburgh Business Times
Shapiro signs bill expanding alcohol laws, making Happy Hours longer
Less than one week after the passage and signing of the state budget, Pennsylvania Gov. Josh Shapiro signed a bill into law on July 15 that expands Pennsylvania's alcohol laws.<\p> One of the biggest changes HB 829 brings about is the establishment of a spirits industry promotional board. The board will make recommendations to the Department of Agriculture to award $1 million annually in grants "for the purpose of increasing the production of Pennsylvania-made spirits and enhancing the Pennsylvania distilled spirits industry through promotion, marketing and research-based programs and projects." Unused funds will roll over into the next fiscal year.<\p>
Hello Neighbor reaches settlement with National Labor Relations Board
A local nonprofit dedicated to helping immigrants resettle in the Pittsburgh region has reached a settlement on charges filed with the National Labor Relations Board, the agency said on Tuesday. <\p> The four unfair labor practice charges were filed in February 2023 by the United Steelworkers International Union, the NLRB’s Region 6 Pittsburgh office said in a release.<\p>
PNC CEO says no surprises as Q2 office multi-tenant loans hit 52%
Pittsburgh's largest bank reported second-quarter earnings ahead of a year ago and above analysts projections, but not through loan growth. <\p> In fact, top executives at PNC Financial Services Group Inc. say they're tired of speculating when commercial and industrial lending returns.<\p>
Local company reports coaching skills key to lessening job turnover
Want to know a proven way to help retain top employees? Turn, like professional athletes, to better coaching.<\p> That's one of the insights from DDI, the Bridgeville-based management consulting company in its Global Leadership Forecast 2023 survey of 13,695 executives and 1,826 human resource professionals worldwide. DDI's HR professionals cite a big step up in a company's leadership at a time when keeping turnover low is a huge priority.<\p>
Alcoa shareholders OK acquisition of Australian manufacturer
The shareholders of a Pittsburgh-based manufacturer have overwhelmingly approved the acquisition of an Australian company.<\p> Alcoa (NYSE: AA) announced Tuesday that a special meeting earlier in the day had seen 99% of its shareholders voting to approve the acquisition of Alumina Ltd, which has an enterprise value of $2.2 billion<\p>
Here's who ranks in U.S. News & World Report's top hospitals
U.S. News and World Report's annual ranking of the top hospitals in the United States only included one hospital — in Philadelphia — but several local hospitals were among the best in Pennsylvania.<\p> Several also were among the nationally ranked in specialties.<\p>
PNC on track for record NII in 2025, CEO says as bank posts Q2 earning
PNC on Tuesday reported second-quarter earnings that topped its performance a year ago as well as Wall Street's projections, and its top executive said the Pittsburgh-based bank was on track to realize record net interest income in 2025, a goal it has touted since last fall.<\p> Bill Demchak, CEO and chairman, said PNC delivered strong results in the second quarter, generating positive operating leverage through revenue growth and well-controlled expenses. It also added customers and strengthened its capital levels. <\p>
JV holds groundbreaking 2.0 for Washington County industrial project
Five years after a previous groundbreaking to clear a long neglected industrial property for a new use, Crossgates Inc. and a new partner held a new groundbreaking to kick off construction on what's expected to be the first new industrial building of major scale in Washington County in many years.<\p> The project is the redevelopment of the former Brockway Glass Plant, a relic from another age that had been decaying into a brownfield at a rail-served site of nearly 20 acres near the junction of Interstates 79 and 70 in Canton Township, Washington County. <\p>
Woodside Ventures stakes women's athletic apparel brand
Woodside Ventures, a Pittsburgh-based investor, has acquired a majority interest in Goal Five and is moving the company's headquarters from Oakland, California, to Pittsburgh.<\p> Moussa Coulibaly, recently retired from Dick's Sporting Goods Inc., has been tapped as CEO. <\p>
Events moved quickly for Butler Memorial Hospital over the weekend
For several hours Saturday night, the attention of the world was on Butler Memorial Hospital, the hospital where former President Donald Trump was brought following the assassination attempt.<\p> Trump was hustled off the stage by Secret Service agents following the shooting at the farm show grounds in Butler. He spent a little less than three hours at Butler Memorial Hospital, which is only a few miles from the scene of the shooting and is the largest acute care hospital in Butler County with 296 beds.<\p>
Around Town: Ellen's House and Heritage Community Initiatives (photos)
Toggle through the slideshow above to view photos of recent events in the Pittsburgh business community.<\p> On July 10, the Ellen O’Brien Gaiser Center, an organization that runs a treatment program in the region for those suffering from alcohol and substance use disorders, opened its newest location, Ellen’s House, in Butler County. Ellen’s House will serve as a sober living home for women and children in Butler. The home, located on East Brady Street, will be able to house up to 12 women at a time and provide them with stability and support as they prepare to live independently. They will also participate in mutual support groups. The organization purchased the home in 2023 and renovated it, with funding from Butler County.<\p>
Personalities of Pittsburgh: Nicole Molinaro, Women's Center & Shelter
Nicole Molinaro is the president and CEO of the Women’s Center & Shelter of Greater Pittsburgh, where she works with adult and child survivors of domestic violence or intimate partner violence to offer them help and hope. The center provides services to over 7,500 individuals every year. Molinaro said the “women’s” and “shelter” parts of the name can be misleading, as only 4% of clients need shelter, and even though domestic violence is historically a gender-based crime, anybody can experience it and the center serves everybody. Molinaro said she is very grateful to have grown up in a loving family;...
How AHN, AGH leaped into action to help Trump rally shooting victims
When Allegheny Health Network personnel arrived at the Butler Farm Show grounds on Saturday hours before the Trump rally was to begin, they weren’t there to provide general medical care, but instead to offer care to the tactical team on the scene. But when shots rang out in an assassination attempt against former President Donald Trump, AHN medics leaped into action. <\p> Federal and state officials confirmed not too long afterward that two critically injured men were brought to AHN Allegheny General Hospital on Pittsburgh’s North Side, about 30 miles from Butler. They were in stable condition, according to Pennsylvania State Police. But what hasn’t been discussed publicly are the details of how emergency medical teams, from Butler Memorial Hospital, Butler County EMS and Allegheny Health Network cared for their patients on the scene and in the hospitals in Butler and Pittsburgh. <\p>
Frank B. Fuhrer Wholesale Co. buys beverage business
Frank B. Fuhrer Wholesale Co. is ready to quench a growing thirst for a host of beverages that have nothing to do with its typical trade in malt, hops, yeast and water.<\p> Long the region's largest beer distributor, the South Side-based company has bought the beverage division of Alber & Leff Foods Co. which it is renaming as the Fuhrer Beverage Co.<\p>
Popular fashion outlet announced for Streets of Cranberry
J. Crew Factory, the discount outlet version of the popular clothing store now operating with a location at Ross Park Mall, is coming to the Streets of Cranberry.<\p> The new store is expected to open in the fourth quarter of this year, according to Herky Pollock, a principal of Regional Development Partners, which bought the 107,000-square-foot shopping center last October. J. Crew Factory is expected to move into a 6,500-square-foot location, replacing Sheila's Home Decor & Gifts.<\p>
Newest shareholder at Tucker Arensberg is a federal public defender
Tucker Arensberg PC announced that veteran attorney Heidi Freese has joined the firm as a shareholder.<\p> Freese has an extensive background in federal criminal defense, the firm said. <\p>
Former Guy Fieri chicken restaurant reopens as The Berg
The former franchisee of Guy Fieri's chicken restaurant, Chicken Guy, is trying something new in the space — a Pittsburgh-themed restaurant named The Berg.<\p> "We were a franchisee of Chicken Guy and honestly, it just didn't work," Brendon Malone, Magic Eats CEO, said. "People are so proud of Pittsburgh, they're so proud of where they're from and they don't want to go to the Burger King or the Chicken Guy. They want to come to something that's local."<\p>
NVR closes on local golf course buy for new residential project
NVR Inc. (NYSE: NVR), best known to the public as Ryan Homes, recently closed on buying the Willowbrook Golf Course in Rostraver Township, Westmoreland County.<\p> But what might seem like a routine business occurrence may feel like a curious anniversary of sorts for Jason Campagna, the managing director and senior advisor for SVN Three Rivers Commercial Advisors, who represented the golf course for sale.<\p>
CMBS apartment distress surges as operators struggle to refinance
Distress in the multifamily sector of commercial real estate is mounting as debt issued during a time of ultra-low interest rates is coming due.<\p> Among commercial mortgage-backed securities loans for single-borrower, large multifamily properties, the rate of distress is up 185% in the past six months, according to an analysis by Wayne, Pennsylvania-based commercial real estate data-analytics platform CRED iQ.<\p>
Cleveland-Cliffs to acquire former U.S. Steel subsidiary
Cleveland-Cliffs Inc., spurned by U.S. Steel Corp. in its acquisition attempts, will instead buy the former Canadian subsidiary of the Pittsburgh-based manufacturer.<\p> Cliffs (NYSE: CLF) announced Monday it would acquire Stelco Holdings Inc. (TSX: STLC), an integrated steelmaker based in Ontario that had once been known as U.S. Steel Canada. The deal includes $60 Canadian dollars ($47.65) and 0.454 shares of Cliffs stock for each share of Stelco common stock, with an enterprise value of $2.5 billion.<\p>
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