EmailEmail
PrintPrint
The week that was: Roll the dice
Sunday, November 08, 2009
Roll of the dice

Can Rivers Casino -- riding a losing streak, with revenues below projections -- afford a unionized work force? We may soon find out. The United Steelworkers of America said last week it would "reach out" to casino employees. Meanwhile, 84 security and surveillance employees will vote tomorrow on whether to join the International Union, Security, Police and Fire Professionals of America.

Two years ago, the state's casinos more or less pledged neutrality when it came to unions -- meaning they wouldn't endorse them, but wouldn't campaign against them -- but that pledge wasn't made by the ownership group that now runs Rivers Casino (Don Barden was in charge back then). The SPFPA last week filed an unfair labor practice complaint against the casino with the National Labor Relations Board.

Roll of the dice, redux

Four times, Ohio voters decided they didn't want casinos and slot machines in their state. But on the fifth try, they voted to authorize four casinos. The vote could complicate Centaur Gaming's efforts to raise capital for its Pennsylvania-based project, Valley View Downs, a would-be Lawrence County racetrack and casino that recently filed for bankruptcy protection.

The golden rule

No, not that golden rule. This one: As the dollar keeps weakening, the price of gold keeps rising. Gold for the first time topped $1,100 an ounce for a time on Friday "on mounting speculation that low U.S. borrowing costs will drive the dollar lower," reported Bloomberg business news service.

In case you missed it ...

... visit www.post-gazette.com/businessnews/ for an update on the new owners of the Hilton Pittsburgh, Downtown. And be sure to sign up for PG+ to see business-related blogs, Q&A columns and videos.

Good news, bad news

Bad news first: The national unemployment rate increased to 10.2 percent, the worst rate since 1983. Good news: The economy grew last quarter, for the first time in two years. This is what they mean by a jobless recovery.

Good news, bad news, redux

Retailers enjoyed a nice October, posting a second consecutive month of sales increases. But one of our own home-grown retailers, South Side's American Eagle Outfitters, saw a 5 percent drop in year-over-year October sales at established stores.

Bill Toland can be reached at btoland@post-gazette.com or 412-263-2625.
"Money Q&A" and "Company Town" are featured exclusively at PG+, a members-only web site of the Pittsburgh Post-Gazette. Our introduction to PG+ gives you all the details.
First published on November 8, 2009 at 12:00 am