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Business news briefs
Wednesday, September 02, 2009
Ebay sells majority stake in Skype telecom service

Ebay Inc. is trading control of the online telecommunications service Skype for about $2 billion, reversing a 2005 acquisition that puzzled analysts. The company said yesterday that it was selling a 65 percent stake in the business to private investment funds for $1.9 billion in cash and a $125 million note, while retaining 35 percent.

Gasoline prices drop for third straight week

Gasoline prices in the Pittsburgh area are on the decline for the third week in a row. The average price of a gallon of regular, unleaded gasoline at local pumps was $2.675 yesterday, a penny less than it was a week ago, according to the AAA Fuel Gauge. A month ago, the average was $2.573, and a year ago, it was $3.640.

Southwest planning to cut flights in 2010

Southwest Airlines will cut the number of daily flights from Pittsburgh International Airport to Chicago's Midway Airport from six to four. The reductions, which take effect Jan. 9, will leave Southwest with 19 daily flights from Pittsburgh to seven destinations, including Las Vegas, Orlando, Fla., and Philadelphia. Overall, Southwest is adding 32 roundtrip flights and cutting 42 as part of the restructuring, prompted by a decline in traffic.

Report: Airlines lost $6 billion in first half

Airline companies lost more than $6 billion during the first half of the year, even as fresh figures showed some signs of recovery, an international industry group said yesterday. A sample of more than 50 airlines found their losses declined to $2 billion in the second quarter from $4 billion in the first quarter, the International Air Transport Association said. Also yesterday, American Airlines said it would cut 921 flight attendant jobs in response to lower revenues.

Westinghouse execs exchange VP positions

Westinghouse Electric Co. said yesterday that two of its senior vice presidents, Daniel S. Lipman and Ricardo G. Pérez, would switch positions. Mr. Lipman will become senior vice president of Westinghouse Global Growth & Innovation, and Mr. Pérez will become senior vice president of Westinghouse Nuclear Power Plants.

Western Pa. wind farm gets clean energy funds

A Pennsylvania wind farm is among the first recipients of federal stimulus funds earmarked for clean energy projects. The Highland Wind Farm, in Salix, Cambria County, will receive $42.2 million from the U.S. Treasury and the Department of Energy. The money made up the first round of grants replacing earned tax credits under Section 1603 of the American Recovery and Reinvestment Act. Total awards under the program are expected to top $3 billion.

PPG Industries names new chief financial officer

PPG Industries Inc. said Robert Dellinger would join the company as senior vice president, finance, and chief financial officer designate on Tuesday. He will become CFO on Oct. 15. Mr. Dellinger was most recently executive vice president and chief financial officer for Delphi Corp. He also held positions at General Electric Co. and Sprint Corp. He succeeds William Hernandez, who is retiring.

Also in business ...

Sony Corp. said yesterday that it would sell its main television factory in North America, in Tijuana, Mexico.

First published on September 2, 2009 at 12:00 am