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Business news briefs
Wednesday, January 06, 2010
Lawmaker seeks hearings on Highmark outsourcing

A state legislator wants hearings on the possible outsourcing of jobs by Highmark Inc. The Post-Gazette reported last month that Pittsburgh insurer Highmark was exploring off-shoring jobs to cut costs. Rep. Matt Smith, D-Mt. Lebanon, sent a letter to House Insurance Committee Chairman Anthony DeLuca, D-Penn Hills, yesterday, asking for hearings and saying, "Highmark's consideration of outsourcing or offshoring is the wrong economic and social decision."

North Shore slots casino posts second-best week

Fueled by the holidays, the Rivers Casino last week posted its second-biggest week in wagering and revenue since its Aug. 9 opening. For the week of Dec. 28 to Jan. 3, the North Shore venue produced $4.7 million in gross terminal revenue, with 55 percent of that going to the state in taxes, on $58.8 million in wagers. The only stronger week was Aug. 10 to 16, when the casino posted $5.2 million in gross terminal revenue on $59.7 million in wagers. Still, Rivers finished seventh last week among the state's nine casinos in revenue and wagering.

Local gasoline prices rise 6 cents in a week

Pittsburgh-area gas prices jumped more than 6 cents per gallon in the past week but remain lower than they were a month ago, according to the AAA Fuel Gauge report. The average price of a gallon of regular unleaded gasoline at local pumps was $2.70 yesterday, about 2 cents less than a month ago, but nearly $1 more than a year ago.

Fed branch directors reappointed to posts

The Federal Reserve Bank of Cleveland announced that Sunil T. Wadhwani, iGate co-chairman, was reappointed to his position as chairman of the board of the bank's Pittsburgh branch. Also re-appointed were Pittsburgh branch board members Robert A. Paul, chairman of Ampco-Pittsburgh Corp.; and Margaret Irvine Weir, president, NexTier Bank, Butler.

Berkshire won't back Kraft's bid for Cadbury

The battle for British candy maker Cadbury was thrown further into doubt yesterday when billionaire Warren Buffett's Berkshire Hathaway Inc., a major Kraft shareholder, voted not to endorse Kraft's hostile takeover bid, even as Kraft increased the cash part of its offer. Cadbury has other possible suitors, including Hershey.

CMU spinoff firm to continue IT work

Carnegie Mellon University said yesterday that it issued an exclusive license to a spinoff firm, the Information Technology Services Qualification Center, or ITSqc, to continue its work on models and certification for information technology services. ITSqc, established in 2000, provides standards for IT companies and those that purchase their services to evaluate and improve services.

Also in business ...

Eaton Corp. named Richard Holder president of its electrical components organization, a new division based at its electrical sector headquarters in Moon. ... Mesa Air Group has filed for Chapter 11 bankruptcy protection. The Phoenix company runs regional flights for carriers including US Airways, Delta Air Lines and United. ... A retail workers' union filed a charge with the National Labor Relations Board yesterday, accusing Saks Fifth Avenue of firing workers in retaliation for joining the union.

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First published on January 6, 2010 at 12:00 am