Pittsburgh Business

The Annual Performance Review Gets A Reboot

Jul 13, 2017
Erika Beras

As a lawyer at a big firm and other companies, Chris Arnold remembers those nights before his annual performance reviews well, if reluctantly.

“Night sweats. Shakes. Terror,” he said. “It was a lot of anxiety.”

That’s because Arnold didn’t know what to expect. Would he get a raise, make partner or be greeted with a nasty surprise? Turns out that type of backward-looking assessment of someone’s performance didn’t work so well for companies either.

Virginia Alvino Young / 90.5 WESA

An independent bookstore chain in Pittsburgh is opening its third location on the South Side this week.

Amazing Books owner Eric Ackland still has quite a few bookshelves to fill. The 4,600-square-foot space on East Carson Street is about five times larger than his Downtown and Squirrel Hill locations.

“Most people assume a third store is evidence of great success,” he said. “In our case, thank God we’re seeking it out, but we need to thrive and we need a location to grow into.”

Keith Srakocic / AP

PPG Industries is retreating from its attempt to take over AkzoNobel after repeated refusals to negotiate by the Dutch chemicals company.

There has been an aggressive push to consolidate in the industry because of falling revenue and thin margins.

DuPont and Dow are attempting to complete a $62 billion merger. Swiss specialty chemicals maker Clariant and Huntsman Corp in Texas recently announced their intent to become a single company with a market value of almost $14 billion.

Keith Srakocic / AP

Alcoa Corp. is moving its global headquarters back to Pittsburgh, where the 129-year-old company had been based until moving to New York City in 2006.

Alcoa has maintained offices in Pittsburgh and 10 employees will relocate from its New York headquarters when the move is made Sept. 1. Alcoa already has 205 employees in Pittsburgh who share a building with Arconic, a spinoff company created when Alcoa split off its mining, refining and aluminum businesses in November from businesses that make aluminum parts for aerospace, automotive and other industries.