Gateway names new leader
Patricia J. Darnley has been named president and CEO of Gateway Health, a Pittsburgh-based insurer that manages Medicare- and Medicaid-related policies for about 300,000 area customers. She replaces former CEO Michael Blackwood, who retired in September. Ms. Darnley came to Gateway from Centene Corp., a St. Louis Medicaid managed care company, where she had served as senior vice president of network development and operations. She has also previously worked as the chief financial officer at UPMC Health Plan, and at the predecessor to Highmark Inc.
ExOne discloses Q4 shortfall
ExOne lowered its fourth-quarter revenue outlook, citing orders for 3-D printers that were pushed into 2014. The North Huntingdon advanced manufacturing company said it expects sales will total $40 million to $42 million, not the $48 million previously forecast. The company disclosed the shortfall after the market closed Tuesday.
Alcoa expands plant in Iowa
Alcoa has completed a $300 million expansion of its Davenport, Iowa, plant to supply aluminum sheet to the automotive industry.
Stockpiles, sales grow in Nov.
The Commerce Department said Tuesday that business stockpiles grew 0.4 percent in November and sales increased 0.8 percent. Retailers led much of the gains in inventories ahead of the holiday shopping season.
Google acquiring Nest Labs
Google will pay $3.2 billion to buy Nest Labs, which develops high-tech versions of devices like thermostats and smoke detectors. The Nest Learning Thermostat, which retails for $249, is designed to learn how inhabitants like their homes to be heated and cooled. Once it learns the consumers' preferences, it automatically adjusts the temperature on its own.
Beanie creator sentenced
The billionaire businessman behind Beanie Babies was sentenced Tuesday to two years of probation for not paying taxes on millions of dollars stashed in Swiss bank accounts. H. Ty Warner, 69, issued a somber but composed apology before being sentenced in Chicago federal court, saying he felt "shame and embarrassment."
Berkshire mill coming down
The Massachusetts textile mill that helped billionaire Warren Buffett launch his investment empire, but which he also called one of his biggest blunders, is being torn down. Roland Letendre, the current owner of the Berkshire Hathaway mill in New Bedford, started demolishing the structure Monday after efforts to sell the property failed. Overwhelmed by foreign competition, Mr. Buffett closed the mill in 1985 and sold the complex in 2000 to Mr. Letendre for $215,000.
GM sales outpace Volkswagen
General Motors Co. edged Volkswagen AG in global sales for 2013, likely securing the slot as the world's second-biggest automaker for the second consecutive year. Toyota Motor Corp. is expected to maintain its position as the world's largest automaker for the second consecutive year when it reports global sales later this week. GM said Tuesday that it sold 9.71 million vehicles globally last year, up 4 percent from 2012.