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Former Steelers players will represent The Meadows

Former Pittsburgh Steelers legends Franco Harris and Rocky Bleier have signed on as representatives of the Meadows Racetrack & Casino. They will assist the entertainment facility with various outreach activities, charitable events and public appearances. The two will appear in a series of advertisements that began airing this week.

BNY Mellon sued, accused of cheating pension funds

New York's attorney general and the U.S. attorney in Manhattan filed separate lawsuits Tuesday against the Bank of New York Mellon accusing it of cheating state and municipal pension funds nationwide out of foreign exchange fees over the last decade. Attorney General Eric T. Schneiderman is seeking about $2 billion, which is the ostensible ill-gotten profits that the bank generated over the last decade.

AK Steel will set up joint venture, purchase stock

AK Steel announced two investments intended to secure supplies of raw materials. The West Chester, Ohio, steelmaker said it will contribute $297.5 million to an iron ore joint venture with Magnetation -- building a plant to pelletize up to 3.3 million tons of iron ore concentrate annually -- and will pay $36 million to purchase the stock of Solar Fuel Co., which controls more than 20 million tons of metallurgical coal in Somerset County.

Dynamics has agreements to issue payment cards

Dynamics Inc., the McCandless-based payment technology company, announced Wednesday that it has sealed agreements with multiple card issuers to launch its magnetic stripe payment cards. The company, which specializes in next-generation payment cards, said initial orders for Dynamics card through 2012 were "well over 1 million units."

Service firms cut jobs, though industry expanded

Service companies cut workers last month for the first time in 13 months, according to a private survey. The Institute for Supply Management said its measure of hiring for service firms, which employ 90 percent of the work force, fell below 50 for the first time since August 2010. The service industry did expand in September for the 22nd straight month, according to the trade group of purchasing managers.

Lower profit margins lead Costco to raise fees

Costco Wholesale Corp. is increasing membership fees 10 percent after rising costs hurt profit margins in the fourth quarter. The retailer's profit margins have narrowed this year as costs climb for gasoline and food. The company last raised all of its membership fees in 2006.

Also in business

Friendly Ice Cream Corp., the 76- year-old chain known for its ice cream and burgers, sought bankruptcy protection from creditors Wednesday, four years after being bought by Sun Capital Partners Inc. The company plans to sell itself at an auction, according to papers filed in U.S. Bankruptcy Court in Wilmington, Del. ... Bank of America still isn't explaining why online banking may show "occasional delays" for some of its customers for a sixth day.

From staff and wire reports


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