Business news briefs for 02/04/12
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Ampco-Pittsburgh reported a fourth quarter profit of $1.8 million, or 17 cents per share, vs. a loss of $9.7 million, or 94 cents per share, in the year-ago quarter. The fourth quarter loss last year resulted from a pretax charge of $20 million related to asbestos litigation. Sales increased 5 percent to $86.5 million. For the full year, profits jumped 38 percent to $21.3 million, or $2.05 per share, while sales rose 5 percent to $344.8 million.
State Sen. Jane Orie, R-McCandless, has introduced legislation that would prohibit insurance companies from "discriminating against any qualified physician or facility that is willing to accept the insurer's standard fee and other terms of its contracts." Called the "Any Willing Provider" act, Senate Bill 1409 is aimed at protecting patients and policyholders caught in the middle of UPMC and Highmark, which are now feuding over contract issues.
International law firm Jones Day, which has an office in Pittsburgh, is opening a new office in Dusseldorf, Germany. It is the company's third office in Germany.
First Published February 4, 2012 12:00 am
