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Pittsburgh Business Times
The furries are back: Anthrocon set to break records this weekend
For many, celebrating Independence Day will mean spending time with family and friends outdoors, enjoying the warm summer weather, attending picnics, watching fireworks and more. <\p> This will certainly be the case for many in Pittsburgh as the city is set to host its annual Fourth of July Fireworks display and celebration centered around Point State Park. But Wednesday will also mark the start of another annual tradition for downtown: Anthrocon. <\p>
Could a rooftop tourist attraction be coming to U.S. Steel Tower?
Those visiting Pittsburgh could soon have the chance to experience a vertigo-inducing thrill atop the U.S. Steel Tower, akin to Chicago’s famous tilting ledge on the Hancock building or New York City’s Empire State Building observatories.<\p> The building’s leasing agent, CBRE, has been approached by multiple companies wanting to develop a tourist attraction, said Vice Chairman Jeremy Kronman. Ideas range from view booths that tip forward to harnessed walks along the ledge. The proposals are currently under evaluation.<\p>
Mylan no longer under antitrust investigation
The DOJ announced on Tuesday that it had informed Canonsburg-based pharmaceuticals company Viatris that, Mylan, which is now part of Viatris, as well as Mylan's former president Rajiv Malik are no longer under investigation for alleged antitrust practices. The decision effectively clears Mylan, which in 2020 merged with Pfizer unit Upjohn to create Viatris, of any potential charges related to the probe.<\p> The antitrust division of the Department of Justice had been investigating Mylan and other major pharmaceutical companies for alleged anticompetitive business practices in fixing prices of generic drugs. Viatris said in a release that the outcome affirms its longstanding position: That there was "no evidence of wrongdoing on the part of Mylan or its employees."<\p>
Three Rivers Heritage Trail report puts economic impact in millions
With more than a million visitors each year enjoying the trail network along the region's rivers, a new report estimates use of the Three Rivers Heritage Trail bolstered the economy to the tune of $26.5 million in 2023.<\p> The Friends of the Riverfront, which manages the trail, released the impact report, which found the trail's use also brought in $5.7 million in tax revenue and helped spur $987 million worth of development. <\p>
Vibrant Pittsburgh event talks DEI, identifies areas for improvement
Business leaders and decision-makers gathered in the Union Trust Building Theatre Tuesday to hear about the state of diversity, equity and inclusion in Pittsburgh companies during Vibrant Pittsburgh’s annual Report to the Region, where the results of this year’s Vibrant Index were revealed.<\p> The report compares 100 businesses’ DEI standards to the nine pillars that make up best practices. At the event, Vibrant Pittsburgh presented the latest data with commentary from three panelists, who emphasized the economic incentives for businesses to upgrade their DEI practices and discussed how data can be used to make that happen.<\p>
Dick’s Sporting Goods extends PGA Tour Champions sponsorship
PGA Tour Champions announced yesterday that their Dick’s Sporting Goods sponsorship was extended for another five years. The extension means the Dick's Open will continue through at least 2029. <\p> The annual golf tournament, which is hosted by En-Joie Golf Club in upstate New York, is operated by Broome County Community Charities Inc (BCCC). The tournament has donated over $20 million since its founding in 2007. Primary recipients have included the UHS Foundation and Lourdes Hospital Foundation.<\p>
New Pirates-themed ice cream flavor comes to Giant Eagle
Those looking to show off their Pittsburgh pride now have a sweet, new way to do so. Perry’s Ice Cream’s personalized flavor, Bucco Batter, is now available at Giant Eagle.<\p> As the official ice cream of the Pittsburgh Pirates, Perry’s Ice Cream is giving fans a new way to support their team. A portion of the proceeds of each sale will be donated to the Pirates Charities, which supports youth programs focused on health, fitness and education. <\p>
Matthews fires back after Tesla files lawsuit in California
Pittsburgh-based manufacturer Matthews International Corp. fired back Monday at Tesla, claiming the automaker is trying to bully it into not being able to share Matthews' battery-production innovations.<\p> Tesla late Friday filed a seven-count civil lawsuit against Matthews (Nasdaq: MATW) in U.S. District Court in Northern California, alleging Matthews had stolen trade secrets about how it makes batteries and then had given them to competitors. Tesla's lawsuit alleges the damages will end up being more than $1 billion under the Defend Trade Secrets Act of 2016.<\p>
F.N.B. promotes insider, streamlines bank operations
F.N.B. Corp. said it has enhanced bank operations with a single, streamlined reporting structure, enabling the Pittsburgh-based financial institution to more effectively apply automation, drive efficiency and innovation, further strengthen its focus on risk management and create a superior customer experience.<\p> Justin Kurth leads the merged bank operations organization in his new role as executive vice president, director of banking enterprise operations. <\p>
Optimism as Sharon Regional Medical Center moves to auction date
There’s optimism in Mercer County that a buyer could be found for Sharon Regional Medical Center, which is part of the Steward Health System Chapter 11 bankruptcy process and the auction of its assets that begins Monday, June 24.<\p> The 163-bed hospital is one of the largest hospitals in northwestern Pennsylvania, which a decade ago became part of privately held Community Health Systems, which in 2017 sold it to emerging hospital owner Steward Health System. Now it’s at risk for closure along with other Steward hospitals around the country, and the next few days are likely to be critical as potential buyers emerge.<\p>
Remembering Sy Holzer: PNC exec gave back to region, built connections
Sy Holzer was effectively Pittsburgh's ambassador to Pittsburgh, a corporate executive with an urge to give back and a skill for connectivity. <\p> Holzer passed away at 75 on June 16, Father's Day, appropriate and poignant for someone who nurtured young people inside and beyond PNC Financial Services Group Inc. where he worked for roughly 45 years, and the region he served on multiple levels for even longer.<\p>
CMU alumni clean up at Tony Awards
Carnegie Mellon University was well-represented at this year's Tony Awards, recognizing excellence in live Broadway theatre.<\p> The 77th annual Tony Awards were held on Sunday, June 16 at the David H. Koch Theater at Lincoln Center for the Performing Arts in New York. Three CMU alumni heard their names called out as Tony winners, bringing home four awards. Overall, CMU alumni currently hold 64 Tonys.<\p>
Census update reveals changing Pittsburgh population
A major asterisk all but buries the lead when it comes to a new analysis by the University Center for Social and Urban Research at the University of Pittsburgh on population trends in the region generated from the U.S. Census Bureau's American Community Survey.<\p> After decades of morale-sapping population declines for Pittsburgh and its surrounding region, UCSUR reports the census data shows the city's overall population to be stable or perhaps increasing slightly amid lots of major changes at the neighborhood level.<\p>
U.S. Steel cuts back slightly on second-quarter earnings forecast
United States Steel Corp. on Monday pulled back slightly on its previous optimism for the second quarter, saying adjusted earnings would be at the lower end of the forecast made at the beginning of May.<\p> The Pittsburgh-based steelmaker said it expected $425 million in adjusted EBITDA — earnings before income taxes, depreciation and amortization — for the second quarter ended June 30. That's ahead of the first quarter's $414 million but still impacted by what were challenging steel market conditions and pricing. U.S. Steel (NYSE: X) had May 2 forecast between $425 million and $475 million in adjusted EBIDTA.<\p>
Homeowners continue to build equity, impacting future buying decisions
American homeowners continue to build significant equity even as the housing market has slowed and home prices aren't rising as rapidly as they did in recent years.<\p> U.S. homeowners with a mortgage pulled in $28,000 in equity gains on average year over year in the first quarter, the highest amount since late 2022, according to CoreLogic Inc. That average year-over-year increase of 9.6% translates to a collective gain of $1.5 trillion and means net homeowner equity totaled more than $17 trillion at the end of Q1.<\p>
MSA Safety debuting a new product at the NFPA Conference & Expo
MSA Safety is debuting a new flame detector at the National Fire Protection Association (NFPA) Conference & Expo. This detector along with MSA Safety's leading gas and flame detection solutions portfolio are going to be showcased at NFPA Conference & Expo in Orlando, Florida.<\p> MSA Safety Inc. has been a main producer of safety products and technologies since 1914 with more than 5,000 associates through over 40 international locations.<\p>
Sy Holzer, PNC exec and Pittsburgh community leader, dies at 75
Sylvan “Sy” Holzer, a corporate and civic leader whose more than four decade career at PNC Financial Services Group Inc., culminated by serving as president and CEO of its Pittsburgh region for 19 years, passed away on June 16 at age 75.<\p> He is survived by his wife Cathy, two children, five grandchildren and his brother.<\p>
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