EmailEmail
PrintPrint
Business News Briefs
Saturday, May 10, 2008
The place to relocate, naturally

Pittsburgh is first in the world, or at least the nation, when it comes to relocating families. The city ranked first among large metropolitan areas, according to Worldwide ERC and Primacy Relocation, two organizations that specialize in relocations and assignments at home and abroad. Ranking of the 50 large cities was based on such factors as job growth in 2007, number of top-ranked colleges, in-state tuition at public colleges, separate sales and income tax categories, and a green living index.

Expedient expands on North Side

Expedient Communications is adding a second data center in the Pittsburgh area, a 24,000-square-foot facility in Allegheny Center Mall. A nationwide provider of data center networking solutions, the Cleveland-based Expedient operates a center in Green Tree that is running near capacity, said Expedient spokeswoman Christine Pietryla. The Green Tree center employs 30. The new center will add a handful or so of jobs, she said, and should be ready by the fall.

AGH exec takes Texas post

Allegheny General Hospital Chief Operating Officer Edward Banos has accepted a position as president of a 515-bed health system in Longview, Texas. His resignation is effective June 10. Mr. Banos has worked at North Side's AGH for 21/2 years. His departure comes as AGH and The Western Pennsylvania Hospital in Bloomfield work to consolidate departments and clinical lines.

Eagle exec's payout $14 million

James V. O'Donnell, principal executive of South Side retailer American Eagle Outfitters, was granted stock and option awards valued at $11.2 million last year. In addition, he collected $3.17 million in salary, nonequity incentives and other compensation, a decline from the previous year when higher incentives drove his pay to $4.79 million.

Esmark sued over aborted sale

ArcelorMittal has filed filed a lawsuit against steelmaker Esmark over the aborted sale of the Sparrows Point steel mill near Baltimore. ArcelorMittal claims that Esmark breached its August 2007 agreement to purchase the Sparrows Point plant for $1.35 billion. The proposed sale fell through in December because of financing problems. The lawsuit seeks $540 million in damages. Esmark Inc., based in Wheeling, W.Va., said the lawsuit is frivolous and argues that ArcelorMittal "failed to meet various conditions which were required to close the transaction" and did not resolve disputes with the United Steelworkers union over the sale.

FedEx lowers profit forecast

FedEx Corp. said yesterday fourth-quarter earnings would be below its earlier forecast after surging fuel prices raised costs by at least $100 million more than estimated. Profit per share for the quarter ending May 31 will be $1.45 to $1.50, compared with a previous forecast of $1.60 to $1.80, the company said. It was the second time FedEx has reduced its outlook this year. Wall Street analysts had forecast earnings of $1.71 a share.

First published on May 10, 2008 at 12:00 am
EmailEmail
PrintPrint