Pittsburgh group wins grant to create online health network: Macy’s CEO to step down
June 24, 2016 12:00 AM
David Kohl/Associated Press
Macy’s Terry Lundgren to step down as CEO
From staff and wire reports
Macy’s Terry Lundgren to step down as CEO
Macy’s longtime CEO Terry Lundgren, who spearheaded a landmark acquisition that created a powerhouse national department store chain, will step down early next year, the company announced as it struggles to reinvent itself amid online competition and changing consumer habits. Mr. Lundgren, 64, will be replaced by Macy’s president Jeff Gennette, 55, who was promoted to that role from chief merchandising officer nearly two years ago. Mr. Lundgren, who has been CEO since 2003 and will remain as executive chairman, said the announcement was part of a “very orderly planned succession” and noted that he could have made the change last year, but business started to really soften.
Pittsburgh group wins grant to create online health network
The Pittsburgh Regional Health Initiative has been awarded a four-year, $950,000 grant from the DSF Charitable Foundation in Shadyside to create an online network of physicians and other health professionals who want to advance health reform, patient safety and quality improvement using PRHI’s Tomorrow’s HealthCare online platform. “It is essential to enlist the participation of all interested doctors, nurses, pharmacists and others in reforms, starting locally but moving nationally to create a powerful network of activists,” said Karen Wolk Feinstein, president and CEO of PRHI, in a statement.
Four area credit unions make problem list
Four area credit unions landed on BauerFinancial’s list of problem institutions for the first quarter. They include Beaver Avenue Federal Credit Union on the North Side and Shacog in Carnegie, which each earned two stars; Pittsburgh Central in Sewickley with one star; and Teamsters Local 30 in Jeannette with zero stars. Institutions earning fewer than three stars out of five end up on the independent research group’s problem list. There were no area banks on the list. Making the list does not signal that an institution is on the brink of failure, but customers may want to be sure their deposits do not exceed federal insurance limits, BauerFinancial has said.
Feds: Yuengling settles Clean Water Act violations
Yuengling Brewery has agreed to pay approximately $7 million for environmental improvements and $2.8 million in penalties for violating the Clean Water Act. The U.S. Environmental Protection Agency issued a press release saying Yuengling's two large-scale breweries near Pottsville in eastern Pennsylvania violated the act at least 141 times between 2008 and 2015. The violation involved failing to adequately pretreat industrial waste before discharging it to public wastewater treatment facilities. Yuengling will construct a new pretreatment system and implement improvements to its old system. Yuengling's violations posed a risk to the Schuylkill River, a source of drinking water for 1.5 million people, the EPA said.
Illinois insurance co-op sues feds over health law payments
A struggling Illinois health insurance co-op is suing the federal government, claiming it’s being shortchanged of $72.8 million in promised payments under the Affordable Care Act. Chicago-based Land of Lincoln Health filed the lawsuit in the U.S. Court of Federal Claims in Washington, D.C. At least four other insurers previously filed similar lawsuits over a provision in the law meant to help unprofitable insurers. The others are Health Republic Insurance Co. of Oregon, Pittsburgh-based Highmark Inc., Blue Cross and Blue Shield of North Carolina and Oregon-based Moda Health. At issue is the risk corridor program. In October, the government told insurers it would pay less than 13 cents on the dollar of the amount requested by insurers to cover losses.
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