Business News Briefs

Share with others:

Print Email Read Later

Such a thing as a free shuttle
Laidlaw Charters has been chosen by the United States Golf Association to provide free shuttle service for spectators to the U.S. Open at Oakmont Country Club. Laidlaw said it would run nearly 100 buses daily beginning June 11 between a parking area at Hartwood Park, in Indiana Township and Hampton, and the golf course. The shuttle service will end with the final round on June 17.

Oakmont Giant Eagle closing
The independently owned Giant Eagle on Allegheny River Boulevard in Oakmont is scheduled to close at the end of next month. The store is owned by three members of the Rosenberg family, who also own a Giant Eagle store in Verona and Community Market stores in Penn Hills and Fox Chapel.

Mellon's Kelly looks abroad
Mellon Financial Corp. Chief Executive Officer Robert Kelly said in a Boston speech on Thursday that he hoped to double the company's non-U.S. earnings over the next five years, following a merger with The Bank of New York, and that Mellon wants to be an asset manager in China. Mellon is "exploring" a joint venture with a big Chinese asset manager, China Southern Fund Management. A Mellon spokesman denied a report suggesting that Mr. Kelly promised fewer cuts in Boston than other Mellon cities, saying Mr. Kelly assured the Boston audience that, like Pittsburgh, job cuts resulting from The Bank of New York merger will be "below" 10 percent of the local work force.

Calgon changes the guard
Chief Executive Officer John Stanik has been named chairman of the board of Calgon Carbon Corp. He succeeds Thomas McConomy, who is retiring. Mr. McConomy, 73, led the management buyout of Calgon, a Merck & Co. Inc. division, in 1985, and was a former president and chief executive officer of the company. Separately, Seth E. Schofield has been named lead director of the board.

Macy's in, Federated out
Federated Department Stores shareholders accepted the Macy's name yesterday to better capitalize its national brand recognition. The change will be effective June 1, when shares that have traded as "FD" on the New York Stock Exchange since 1992 will start trading under the ticker symbol "M." Separately, Federated raised the quarterly dividend by .25 cents a share to 13 cents, payable July 2 to shareholders of record June 15.

Also in business ...
Rental Resident Inc., a Downtown-based operator of online brands that provide services to renters, completed the acquisition of Houston-based Shazaam Marketing Group LLC. Shazaam operates more than 100 online sites geared toward renters. Terms of the deal weren't disclosed ... Northwest Airlines received court approval to emerge from bankruptcy protection and said it would exit bankruptcy on May 31 ... The Investigative Services Division of USIS, of Grove City, Mercer County, has won a contract to conduct field investigations associated with security clearance screening and employment for U.S. Customs and Border Protection. Terms of the contract weren't released.


Create a free PG account.
Already have an account?