Bettis plans three Papa John's locations in Pittsburgh region
Former Steelers running back Jerome Bettis plans to open three new Papa John's locations in the region, the company announced. Mr. Bettis purchased the restaurants through a partnership with Bajco Group, a Pittsburgh-based firm that already owns 12 Papa John's locations throughout the city. The partners have also said they plan to open more locations in the next few years. Mr. Bettis is not new to the restaurant business. His sports bar, Jerome Bettis Grille 36, opened on the North Shore in 2007.
Art Institutes president will exit, VP to serve in interim
Education Management Corp. said John Mazzoni, president of the Art Institutes since 2005 and an EDMC employee for 27 years, is leaving the Downtown-based for-profit educational services company in mid-July. Charles Restivo, group vice president, will serve as interim president while a candidate search is conducted.
Fresh Market grocery set for Mt. Lebanon
The Fresh Market Inc. will enter the Pittsburgh market next month, opening its new 19,000-square-foot specialty grocer store on Washington Road in Mt. Lebanon with a grand opening on July 3. The chain based in Greensboro, N.C., has three other locations in Pennsylvania, but none in the Pittsburgh region. The store is expected to employ about 90 workers.
Facebook introduces video on Instagram
Facebook is adding video to its popular photo-sharing app Instagram, following on the heels of Twitter's growing video-sharing app, Vine. Instagram co-founder Kevin Systrom said Thursday that users will be able to record and share 15-second clips by tapping a video icon in the app. They can also apply filters to videos to add contrast, make them black and white or different hues. "This is the same Instagram we all know and love but it moves," he said at an event held at Facebook's Menlo Park, Calif., headquarters. Vine, which launched in January, has 13 million users and lets people create and share 6-second video clips. Instagram has more than 130 million users, up from about 22 million when Facebook bought the company more than a year ago. If users like it, Facebook's move could propel mobile video sharing into the mainstream. Mr. Systrom said.
Home resales passed 5 million mark in May
Sales of previously occupied homes surpassed the 5 million mark in May, the first time that has happened in 3 1/2 years. The National Association of Realtors said Thursday that home re-sales rose 4.2 percent in May to a seasonally adjusted annual rate of 5.18 million. That's up from April's pace of 4.97 million. Sales last exceeded 5 million in November 2009.
Leading indicators up only slightly in May
A measure of the U.S. economy's future health improved only slightly in May. The Conference Board says its index of leading indicators increased 0.1 percent in May to a reading of 95.2. Higher stock prices boosted the May index.
Kodak has loans for operation after bankruptcy protection
Kodak says it has secured as much as $895 million to fund its operations after it emerges from bankruptcy protection. The bulk of the money will come from senior secured term loans supplied by J.P. Morgan, Bank of America, Merrill Lynch and Barclays.