Local real estate market turns in mixed report card
Home shoppers in the Pittsburgh region are buying more houses but spending less, according to data collected by RealStats, a South Side-based real estate information service. In October, the region saw 2,653 homes change hands, up 4.2 percent from 2,546 homes sold in October 2012. Dollar volume fell 2.1 percent from $433 million in 2012 to $424.1 million. The region's average home price also fell by 6.1 percent from $170,191 in 2012 to $159,862. The median home price fell from $135,000 to $128,900.
#1 Cochran's Infiniti facility moving to Wexford
The #1 Cochran dealership is moving its Infiniti operation from Monroeville to Perry Highway in Wexford. Now in a temporary facility, the company will build a new showroom next to its Volkswagen dealership.
Complaints spur FAB Universal suits
Two shareholder class action lawsuits have been filed against FAB Universal, alleging the Pittsburgh digital content provider made false and misleading statements about its operations in China and failed to tell investors about a $16.4 million bond offering. The complaints were filed in federal court in New York City.
Economic index survey says fiscal optimism grows here
More consumers in the region believe the economy is getting better, according to Huntington Bank's second annual economic index survey. The online survey of consumers in Western Pennsylvania, Indianapolis, Michigan, Ohio and West Virginia found 46 percent were confident that the economy in their local area was stronger than a year ago versus 39 percent who felt that way last year. Fifty-eight percent of respondents said the local real estate market was improving, up from 46 percent one year ago.
Dick's Sporting Goods posts $50M Q3 profit
Findlay-based retailer Dick's Sporting Goods posted a third-quarter profit of $50 million, about even with last year's results during the same period. On a per-share basis, Dick's reported earnings of 40 cents per share, 1 cent above the 39 cents that analysts had been projecting. Sales in the three months ended Nov. 2 rose 6.7 percent to $1.4 billion, while sales at stores open at least a year were up 3.3 percent after adjusting for calendar differences from the previous year.
Local nonprofit coalition announces new director
Jessica L. Brooks has been named new executive director of the Pittsburgh Business Group on Health, succeeding M. Christine Whipple. Ms. Brooks had been a diversity and inclusion consultant for Highmark Corp. She holds a master's degree in public management from Carnegie Mellon University.
Cigna announces plan to hire 150 workers here
Health insurer Cigna says it plans to hire 150 employees in the Pittsburgh area to join its customer service team. The new employees, who would join the 1,400 Cigna workers already here, "reinforce Cigna's commitment to our customers and to the Pittsburgh region," said Julia Huggins, president of state health care operations.