Economy & Business

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.

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.

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:

  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.

  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.

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.

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.

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.  

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?

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.

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.