Economy & Business

Labor
3:58 pm
Mon April 29, 2013

Workers' Memorial Day Honors Those Who Died on the Job

A cross for slain jitney cab driver Monica Proviano stands before a reproduction of a mural of penitent Pittsburgh laborers by Croatian artist Maxo Vanka.
Credit Noah Brode / 90.5 WESA

Local union leaders gathered in Market Square on Monday with the families of workers who have died on the job in Allegheny County, honoring them with a Workers' Memorial Day.

According to the event's organizers, 12 people died on the job in Allegheny County from May 2012 to the current month.

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Essential Pittsburgh
9:00 pm
Fri April 26, 2013

The Missing Semester: Making Good Financial Decisions At An Early Age

College and High School students from across the region talk about the good and bad financial advice they've received through the years.
Credit Heather McClain / 90.5 WESA

  As a college student, what was your approach to financial planning? Did you even have one? High school seniors preparing to move on to college and college seniors starting careers or graduate work often find that there's something missing from their education, personal financial management. The Missing Semester is a financial planning book by Gene Natali Jr., Senior Vice President at C.S. McKee a Pittsburgh investment firm. He and Katz School of business professor Jay Sukits recently held a student roundtable on financial literacy where college and high school students from around the region shared their financial planning stories. Hear how Western PA students are making financial choices and consider your own as we discuss the challenges of money management and school.

"The choices we make every day have financial consequences--in some cases, BIG financial consequences. "

New Market Tax Credits
2:41 pm
Fri April 26, 2013

Tax Credits Could Spark Economic Development in Pittsburgh

Pittsburgh Urban Initiatives (PUI) has been awarded $35 million in tax credits by the U.S. Department of the Treasury to help spur investments in the city’s low-income communities.

The New Markets Tax Credit Program began in 2000 and allows individual corporations and investors to receive a credit against their federal income tax in exchange for making equity investments in Community Development Entities such as the PUI.

Investors can then receive 39 percent of their total investment in credits over seven years.

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Carnegie Mellon University
2:27 pm
Fri April 26, 2013

CMU Summit Hopes to Bridge Pittsburgh and China

Business CEOs and academicians from the U.S. and China will meet this weekend in Pittsburgh to discuss how to best strengthen business ties.   

Pengxuan Chen, chair of the second Carnegie Mellon University Summit on US-China Innovation and Entrepreneurship, said the forum is bringing in more than 40 speakers to discuss topics where both countries share interests.

She said the hope is to better promote the Pittsburgh region to Chinese investors and business people.

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Essential Pittsburgh
9:00 pm
Tue April 23, 2013

Exploiting Extraterrestrial Resources: Economic and Legal Issues in Outer Space

Point Park Professor Dimitris Kraniou pushes his economics students to think on the macro-level with his extraterrestrial economics course
Credit Point Park

With the steady depletion of earth’s natural resources and accelerating population growth, more and more people are giving serious thought to the idea of outer space resource exploration.

But how should the process be regulated? Professor Dimitris Kraniou, Point Park University Chair of the Department of Global Management and Organization, has been teaching this subject matter for years in his special project classes for graduate students. He turns real life global problems into outer space "what if" scenarios for students to solve.

Business
4:45 pm
Tue April 23, 2013

Quakers Bring PNC Shareholder Meeting to Early End

Because the Earth Quaker Action Team was protesting PNC's shareholder meeting, security workers escorted attendees in and out of the August Wilson Center, where the meeting was held
Credit Tom Prigg / The Allegheny Front

A protest by a group know best for its pacifist views disrupted a PNC shareholder meeting in Pittsburgh Tuesday to the point that the company’s chairman and CEO had to shut down the gathering. 

For three years the Earth Quaker Action Team has been protesting the financial institution’s involvement in the practice of collecting coal through a process known as mountaintop removal.

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Essential Pittsburgh
10:20 am
Tue April 23, 2013

The Business of Security with Rebecca Harris

Business Contributor Rebecca Harris is Director for the Center for Women's Entrepreneurship at Chatham University
Credit Rebecca Harris / Chatham Center for Women's Entrepreneurship

In light of everything that happened last week in Boston, our business contributor Rebecca Harris focuses on the business of physical and personal security. What do you need to consider if you are setting up your own security company? She also comments on Work Force Violence and the connection to the security industry. Read more about the growing security industry:

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Workforce Development
1:35 pm
Mon April 22, 2013

Imagine! Career Week Kicks Off, Seeks to Prepare Area Youth for Jobs

The Three Rivers Workforce Investment Board kicked off its eighth annual Imagine! Career Week Monday morning with 120 employers, educators and community partners seeking to prepare area youth to step into the many jobs now held by people nearing retirement.  

During the week, about 5,000 students will leave their classrooms to experience the many opportunities open to them in the financial and healthcare sectors, trades and the global economy, according to Executive Director Stefani Pashman.  

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Housing Market
3:30 am
Mon April 22, 2013

Southwestern PA Housing Market Best It’s Been in 4 Years

"For sale" signs are appearing and disappearing quickly from front lawns all over southwestern Pennsylvania.

That’s according to the March real estate report from West Penn Multi List Inc., which found it’s good to be a seller.

“It’s phenomenal,” said West Penn chief operating officer Barbara Kohl. “The situation right now is there just is not enough houses to sell. There are a tremendous amount of buyers out there, so what happened here locally is it went from a buyer’s market to a seller’s market very quickly.”

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Essential Pittsburgh
2:55 am
Sat April 20, 2013

Going Green by Putting Your Money Where Your Mouth Is

  It's hard to deny that it feels good to live an eco-friendly lifestyle by shopping green. But how sustainable is sustainable consumerism when it comes to your bottom line? Can green products actually improve your economic situation and the world, or does it take action? Michael Maniates Professor of Environmental Science and Political Science at Allegheny College and advisory board member for The Story of Stuff Project, talks about how to go beyond green consumerism.

See how Maniates thinks citizens (not shoppers) hold the keys for change:

Labor
2:01 pm
Thu April 18, 2013

Rivers Casino Workers File Federal Complaints, Allege Intimidation by Management

Last week, workers from Pittsburgh’s Rivers Casino marched to the facility, calling on management to recognize their right to organize. They then gathered in an employee cafeteria where workers claim they  were targets of intimidation by management.

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State News
10:02 am
Wed April 17, 2013

NRA Selected to Take Harrisburg Outdoor Show to 'National Level'

The National Rifle Association will operate a major sports and outdoors show in Harrisburg next year.

The NRA was selected from among 17 applicants to take over running the event that was known as the Eastern Sports and Outdoor Show and help raise its national profile.

President David Keene called the cancelation a “tragedy” which his organization plans to rectify with the new Great American Outdoor Show.

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Taxes
4:55 pm
Tue April 16, 2013

State Auditor General Finds $35 Million in Unpaid Corporate Taxes

Pennsylvania Auditor General Eugene DePasquale said Tuesday that he found errors on more than 1,250 corporate tax returns, totaling a net gain of $35.4 million for the state.

Some corporations overpaid by a total of $5.5 million, but many more underpaid by a total of $40.8 million.

DePasquale said the Department of Revenue must now "aggressively go after that money" to reclaim as much as possible before the state budget deadline of June 30.

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Essential Pittsburgh
11:56 am
Tue April 16, 2013

Rolling in the Dough Rebecca Harris on Running a Bakery

Rebecca Harris is Director of the Center for Women's Entrepreneurship at Chatham University
Credit Rebecca Harris / Chatham Center for Women's Entrepreneurship

Before she became the Essential Pittsburgh's business contributor and Director of Center for Women's Entrepreneurship at Chatham University, Rebecca Harris ran a bakery. Today, we'll look at the business of bakeries and what it takes to turn a hobby into a business.

Read more about the business of baking:

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Economy
4:43 pm
Mon April 15, 2013

Community Groups Partner to Fill Emerging Job Market

The Allegheny Conference on Community Development (ACCD) will analyze industry needs to create education programs in growing job sectors with the help of $390,000 from the Alcoa Foundation.

Laura Fisher, ACCD Senior Vice President of Special Projects, said they plan to first attract talent to the region in order to fill positions in advanced fields. From there they plan to work with colleges and companies to build a curriculum that meets the energy industry’s needs.

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Essential Pittsburgh
4:18 pm
Sun April 14, 2013

Financial Literacy and Overcoming Generational Poverty

Exploring generational poverty and money management
Credit Lucia's Clay / Flickr

  Money, everybody wants it, everybody needs it, yet we struggle to understand it and to talk about it. Especially those of us who have never had much money to speak of. At this point in financial literacy month we want to take a look at money management from the perspective of generational poverty. What circumstances and financial habits perpetuate poverty and how can families prevail? Tammy Thompson is a Community Liaison and Certified Housing Counselor for NeighborWorks Western PA, she works with adults, kids and families on financial planning at all socioeconomic levels.

Local Economy
3:18 pm
Fri April 12, 2013

Pittsburgh Sees Investment Growth As Other Areas Experience Declines

The number of venture capital dollars and deals across the U.S. has been generally declining over the last several years, but Pittsburgh is bucking that trend.

“Since 2009 we’ve had the credit crisis, and probably the most severe national recession we’ve ever had, and during that period Pittsburgh has seen an increase in early stage capital and the number of financings," said Lynette Horrell, managing partner with Ernst & Young Pittsburgh. "The number of financings has grown over 50 percent.”

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Business
9:32 am
Fri April 12, 2013

New Owners Move Burger King CEO to Heinz Helm

The new owners of Heinz are tapping Burger King CEO Bernardo Hees as the company's next top executive, a move that installs one of their own at the helm of the ketchup maker.

It also signals other big changes could be in store for the 144-year-old company, which had been run by CEO William Johnson for the past 15 years.

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Economy & Business
3:30 am
Fri April 12, 2013

Pittsburgh Riverhounds Find Permanent Home with New Stadium

Pittsburgh Riverhounds team member Andrew Mashall practices Thursday morning at Highmark Stadium. The team will play its home opener on Saturday against the Harrisburg City Islanders.
Ryan Loew 90.5 WESA

When the Pittsburgh Riverhounds play their home opener on Saturday against the Harrisburg City Islanders, the team will have something they’ve never been able to claim — their own stadium.

Since their first game in 1999, the soccer team has called four different fields their home but has not been the primary tenant until now.

This year the Riverhounds are playing at Highmark Stadium next to Station Square. The field, built for the team, has 3,500 seats and a standing-room-only capacity of about 4,200 people.

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Local Economy
9:51 am
Wed April 10, 2013

NCAA Frozen Four Seen as Boon to Pittsburgh Economy

On Monday night, the NCAA men’s basketball Final Four wrapped up in Atlanta with fans leaving behind an estimated $70 million dollar economic impact.

This week, Pittsburgh is hosting the NCAA men’s ice hockey final four, and while it won’t bring in $70 million, it is being seen as a boon for the local economy.

Six years ago Robert Morris University Senior Associate Athletic Director Marty Galosi decided he wanted to host the tournament, known as the Frozen Four, so he put in a bid and started to lobby.

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Essential Pittsburgh
9:00 pm
Mon April 8, 2013

Three Rivers Venture Fair: Financing Your Entreprenuerial Ideas

Rebecca Harris is Director of the Center for Women's Entrepreneurship at Chatham University
Credit Rebecca Harris / Chatham Center for Women's Entrepreneurship

When it comes to getting a business off the ground people go in search of angels or venture capitalists to help make their dreams a reality. But what's the difference? And how do you attract their attention to your project? Business contributor Rebecca Harris reports this week on the Three Rivers Venture Fair where prospective business owners could find possible financial backing. 

Find out more about Angel Investing and Venture Capitalism:

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Essential Pittsburgh
9:00 pm
Fri April 5, 2013

Financial Literacy Month: Jumping Back into the Stock Market

Ready to invest again? Find out which approach to stock market investing could work best for your situation.
Credit Terence Wright / Flickr

  In the first week of April, mortgage financier Fannie Mae reported record earnings for the fourth quarter, 2012 was their first profitable year since 2006. Yet the March jobs report was poor. So with a recovering housing market and fluctuating employment numbers, what does this say about the stability of our financial system? Are we really on a road to recovery? Is it safe to jump back into the stock market? And what are the best ways to do it? Roselyn Wilkinson, Vice President of MD&A Financial Management Co. and Registered Representative of Berthel Fisher continues our series of financial literacy month discussions with advice on smart ways to invest.

Economy & Business
9:00 pm
Thu April 4, 2013

Remembering Billy Mays Jr. with Billy Mays Sr.

Famous Pitchman, Billy Mays Jr. used his boisterous persona to popularized brands such as OxyClean
Credit Sharese Ann Frederick / Wikipedia

  Considered America's greatest pitchman, Billy Mays Jr. could be found, day and night, selling products on TV commercials. Billy Mays Sr., author of the book My Son, Billy: A Father Remembers the Greatest Pitchman Ever talks about raising his son  in McKees Rocks.

Economy
5:08 pm
Tue April 2, 2013

Pennsylvania Tax Revenues Down in March

Though Pennsylvania collected $4.2 billion in revenues in March, that number was $69.4 million, or 1.6 percent, below what was projected.

Despite last month's shortfall, the PA Department of Revenue says that from July through March collections totaled $20.3 billion, which is $35.5 million, or 0.2 percent, above estimate.

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Pittsburgh
4:59 pm
Tue April 2, 2013

Pittsburgh Job Growth Slowed Last Year, Group Says

Hospitals, financial services and the Marcellus Shale industry in southwestern Pennsylvania are expanding employment, but the rest of the area’s economy has slowed hiring, according to Pittsburgh TODAY.

Douglas Heuck, Program Director for Pittsburgh TODAY, a nonprofit that provides statistical information on Pittsburgh life, said Pittsburgh’s job growth from February 2012 to February 2013 was 0.18 percent.

He said Pittsburgh was once third in job growth in their rankings of 15 cities, but last year’s numbers dropped it to last.

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Economy
4:02 pm
Tue April 2, 2013

Report: Pittsburgh Region Sustained Five Consecutive Years of Economic Growth

Dennis Yablonsky, CEO of the Allegheny Conference on Community Development, outlines the region's economic successes of 2012.
Credit Deanna Garcia / 90.5 WESA

The Pittsburgh region was one of three U.S. metro areas to be deemed fully recovered from the 2008 recession by the Brookings Institution in late 2012.

A report released Tuesday shows the region has sustained five years of economic growth, including 2012, which was a benchmark year for employment.  

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Essential Pittsburgh
9:00 pm
Mon April 1, 2013

Taking Care of Business with Rebecca Harris

Rebecca Harris is the Director of the Center for Women's Entrepreneurship at Chatham University
Credit Rebecca Harris / Chatham Center for Women's Entrepreneurship

Last week our business contributor Rebecca Harris gave us a look at some of the fastest growing occupations. This week she talks about job opportunities for women and growth areas for entrepreneurs. Did you know 2013 is expected to be the Year of the Woman Entrepreneur?

State News
3:03 pm
Mon April 1, 2013

Pennsylvania's Financial Scorecard: Only One 'A'

Credit cfed.org / Corporation for Enterprise Development

Pennsylvania is far from being honor roll-worthy when it comes to helping its residents become financially stable. 

The Corporation for Enterprise Development (CFED) released its 2013 Assets & Opportunity Scorecard Monday, and the commonwealth earned a "C" in three subjects: businesses and jobs, housing and homeownership, and education.  Pennsylvania received a "B" for financial assets and income and an "A" for healthcare.

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Economy & Business
1:02 pm
Fri March 29, 2013

PA Workers' Compensation Rates To Drop Again

The Pennsylvania State Insurance Department says a workers' compensation insurance rate reduction will go into effect next week, saving employers millions of dollars.

The department said the overall 4 percent decrease, which takes effect Monday, could mean as much as $110 million in savings for Pennsylvania employers.

The 4 percent estimate may vary according to a company's claims experience, payroll and other factors, and not all employers will see a decrease.

Insurance Department Spokeswoman Rosanne Placey says there is a positive trend happening in Pennsylvania.

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Essential Pittsburgh
9:00 pm
Thu March 28, 2013

The French Connection: What France is Learning From Pittsburgh's Economy

Ambassador François Delattre recently addressed the World Affairs Council of Pittsburgh
Credit French Embassy in the U.S.

“The keys of success are innovation and entrepreneurship.” François Delattre, French ambassador to the United States, discusses what he’s learned from Pittsburgh when it comes to reinvention after industrial decline and new opportunities for a Franco-American partnership.

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