Waterford Wedgwood PLC comes crashing down

Waterford Wedgwood PLC, maker of classic china and crystal, filed for bankruptcy protection yesterday after attempts to restructure the struggling business or find a buyer failed. The company's directors -- including Anthony O'Reilly, former chairman of Pittsburgh's H.J. Heinz Co. who along with his brother-in-law Peter Goulandris owns more than half of Waterford Wedgwood's shares -- handed in resignations. Waterford Wedgwood sold Canonsburg's All-Clad Metalcrafters to French conglomerate Groupe SEB in 2004 after owning that company for five years.

Borders names new chief after holiday sales fell 12%

Borders Group Inc., the money-losing bookstore chain that tried to sell itself last year, replaced top management after holiday sales fell 12 percent to $868.8 million. Ron Marshall, who ran private-equity firm Wildridge Capital Management for the past three years, was named chief executive officer, replacing George Jones. The company also promoted Mark Bierley to chief financial officer.

Tyson Foods CEO resigns effective immediately

Tyson Foods Inc. said yesterday that Dick Bond, president and chief executive, was stepping down immediately in a move he said was in the "best interest personally, and the best interest of the company." He will be succeeded on an interim basis by former chairman and CEO Leland Tollett. Springdale, Ark.-based Tyson has been squeezed by volatile commodity prices, weak demand and an oversupply of meat on the market.

PNC offering free access to National City ATMs

Now that its acquisition of National City Corp. is complete, PNC Financial Services Group said all its customers would have unlimited, free access to any ATM branded with either name. The merger closed on Wednesday. The combined company is the nation's fifth largest bank based on deposits and fourth largest in branches with 2,600 in 13 states and the District of Columbia. The conversion of National City retail customers and branches will begin during the second half of 2009 and continue through the end of 2010. Starting today, "National City -- now a part of PNC" will be applied to customer materials and advertising before assuming the PNC name.

Also in business ...

U.S. Steel will take a $25 million pretax charge against fourth-quarter results because of its decision to stop producing drawn-over-mandrel tubular products. The charge reflects the cost of idling production lines at its Lone Star, Texas, plant that produces the pipe. ... Larry Jones has been named medical director of West Penn Hospital's burn center. Dr. Jones and Dr. Roger Barrette recently moved to West Penn from the UPMC-Mercy Trauma and Burn Center. The hospital also announced it has received an $87,000 federal grant to open an outpatient burn center to provide follow-up care. ... Michael Baker Corp. received a $2.8 million contract from the Pennsylvania Department of Transportation to inspect and document work on more than $47 million of bridge and highway projects in Lackawanna and Luzerne counties.