Ross car dealer shuts doors

McCrackin Ford closed for business Thursday night after nearly 40 years on McKnight Road in Ross. The McCrackin family said the Ross dealership was closing because founder Bob McCrackin was retiring and his son and co-owner Tim McCrackin believes "it's the right time for us all to close this chapter in our lives together." The family said it would contact its customers to refer them to other dealerships.

U.S. Steel, Michigan settle

U.S. Steel Corp. has agreed to pay $350,000 in civil fines and costs in a deal with the state of Michigan aimed at stopping zinc and ammonia pollution of the Detroit River from a company mill. The agreement resolves more than 170 violations of wastewater discharge permits since the company took over the Wayne County operations from bankrupt National Steel in 2003, the Michigan Department of Environmental Quality said.

Simon, partner buying Mills

Mall operator Simon Property Group Inc. and hedge fund Farallon Capital Management said yesterday they would buy struggling mall developer The Mills Corp. for $1.64 billion after outbidding rival Brookfield Asset Management Inc. Mills has 38 malls nationwide, and was the principal developer of the Pittsburgh Mills in Frazer. Simon Property owns Century III Mall, South Hills Village and Ross Park Mall. Many Wall Street analysts believed Simon was a better fit for Mills than Brookfield, a Canadian conglomerate that owns timber, power and commercial real estate but has no retail presence in North America.

Also in business ...

Mylan Laboratories said it received final approval from the Food and Drug Administration to sell a generic version of Wyeth's Inderal LA blood pressure medication ... The Federal Home Loan Bank of Pittsburgh reported fourth-quarter net income of $58.2 million vs. $46.4 million a year ago. For the full year 2006, the bank posted net income of $216.5 million vs. $191.8 million in 2005 ... The Eagle Ridge Apartments, a 352-unit complex in Monroeville, is for sale, with an asking price of $23.5 million. The apartments are in 12 buildings at 1500 Eagle Ridge Drive. The property is being marketed by HFF LP, formerly called Holliday Fenoglio Fowler ... Alcoa named Ratan N. Tata, chairman of Indian conglomerate Tata Sons Ltd., a director. Mr. Tata, 69, also is on Fiat's board.