Business Briefs: 4/11/14

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Marina on Mon about to set sail

A plan to add a 350-slip marina along the Monongahela River at SouthSide Works is about to set sail. The city's URA board approved a lease with Max Marina Inc. Thursday to develop the full-service facility. The first docks with about 35 slips should be done by fall. Another 135 slips could be ready by next spring. The full build out could take nearly a decade. Max Marina is headed by David Maxwell, Fox Chapel Yacht Club owner.

The board also approved negotiations with the city and the parking authority to acquire the former city detectives headquarters and two parking lots in East Liberty. The URA plans to hold the land for future development in the booming corridor.

Burns & Scalo acquires David Hood & Sons

Burns & Scalo Roofing acquired David Hood & Sons, a roofing company based in Turtle Creek. Burns & Scalo, based in Thornburg, provides commercial and residential roofing services.



Family Dollar to close stores, cut jobs

Family Dollar said Thursday that will cut jobs and close about 370 underperforming stores as it tries to reverse sagging sales and earnings. The discount store operator will also permanently lower prices on about 1,000 basic items. Family Dollar Inc., which operates 8,100 stores, did not provide details on the cuts.

Icahn settles proxy fight with eBay

Ebay and billionaire activist investor Carl Icahn have settled their proxy fight ahead of the company’s annual meeting. Mr. Icahn and eBay had been in an acrimonious tussle over PayPal, the e-commerce company’s quickly growing mobile payment arm. Mr. Icahn, who owns about 2 percent of eBay’s shares, said repeatedly the company should spin off all or part of PayPal. But under a deal announced Thursday, mr. Icahn said he is dropping the PayPal strategy and withdrawing his proposal to put two nominees on the board. In return, eBay will make David Dorman, chairman of CVS Caremark Corp., an independent director. and founding partner of Centerview Capital Technology.

From staff and wire reports

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