Federal, state contracts boost Baker earnings

Michael Baker Corp. said second-quarter earnings increased 36 percent as more profitable federal and state contracts and a joint venture in Iraq offset an 8 percent decline in revenue. Net income totaled $8.3 million, or 93 cents per diluted share, on revenue of $170.9 million, vs. earnings of $6.1 million, or 69 cents per diluted share, and revenue of $185.8 million in the year-ago quarter. The Moon engineering and energy services concern's backlog of work remained flat at $1.32 billion.

Bayer taps veteran to head new unit

Claudio Abreu will become president and CEO of Bayer Business and Technology Services LLC, a new organization within Bayer Corp., on Oct. 1. Mr. Abreu, 46, will retain his position as head of Bayer Business Services in North America and global head of information technology operations. He previously was senior vice president and chief information officer for Bayer.

Higher revenue in Vegas, Atlantic City a bad bet

Las Vegas Strip casino revenue fell for the sixth straight month in June, resulting in the first fiscal year decline since 2002. Gambling revenue on the Las Vegas Strip dropped 3 percent to $486.4 million in June, Nevada's Gaming Control Board said yesterday. That followed a 16 percent decrease in May. For the 12 months ended June 30, Strip revenue slipped 1.5 percent to $6.68 billion. Gambling revenue in Atlantic City dropped 6.1 percent this year through June, the New Jersey Casino Control Commission said July 10.

Broadband subscriptions off high-speed highway

The number of new broadband Internet subscribers in the United States fell in the second quarter to the lowest level in at least seven years, Leichtman Research Group Inc. said yesterday. The 20 largest cable and telephone companies added a net 887,000 high-speed Internet subscribers in the quarter.

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Allegheny General Hospital has been named one of the top 100 U.S. hospitals by Thomson Reuters for demonstrating consistent improvement in the past five years. AGH is one of three Western Pennsylvania hospitals listed, along with Heritage Valley Beaver in Beaver County and Saint Vincent Health Center in Erie County.