Business news briefs: Northland Ford acquired by Baierl Automotive
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Northland Ford acquired by Baierl Automotive
Wexford-based auto company Baierl Automotive has acquired Northland Ford of Zelienople for an undisclosed figure. The Zelienople location is Baierl's fifth dealership, and the company now sells 11 brands of vehicles.
Wabtec to provide parts for NYC subway cars
Wilmerding-based Wabtec Corp. announced Wednesday it has sealed a contract to provide components for 300 subway cars being supplied by Bombardier Transportation to MTA New York City Transit. Wabtec will provide brakes, couplers and current collectors, event recorders, and speed indicators for the cars. The pilot cars will be delivered at the end of 2014. The production series cars will be delivered beginning in mid-2015.
Leadership shuffle occurs at Genco
Herb Shear, who has been the chairman and CEO of O'Hara-based Genco for the last 40 years, has become the company's executive chairman, focusing on strategic direction and long-term growth, according to a release from the company. Todd R. Peters, who is also the vice chairman of the company, is the new CEO. Both moves were effective Jan. 1.
CMU, London-based firm reach deal on robot tech
Carnegie Mellon University announced it has reached a five-year master agreement with London-based mining company Anglo American PLC to develop robotic technologies. The university's Robotics Institute will design and create mining robots, tools and other technologies in partnership with Anglo American's Technology Development Group.
AIG won't target U.S. with suit over bailout
American International Group Inc. said Wednesday its board of directors decided not to sue the U.S. government over the bailout that rescued the company. News that the insurance giant was considering joining a shareholder suit provoked outrage. AIG took about $125 billion of bailout money, and the government received a 92 percent ownership stake in the company. Last month, the Treasury sold its last shares of AIG stock, formally ending the bailout with a $22.7 billion profit.
U.N. provides snapshot of domestic workers
At least 52.6 million people worldwide are employed as domestic workers, most of them women vulnerable to abuse and without adequate legal protection, the U.N. said Wednesday in its first snapshot of the often invisible workforce that cares for other people's families and households.
Olive Garden leader let go after marketing failure
Darden Restaurants Inc. is replacing the president of its flagship Olive Garden chain after a new marketing campaign failed to reverse slumping sales. Dave George, who most recently headed Darden's LongHorn Steakhouse restaurants, will be the new president of Olive Garden effective Monday. He takes over for John Caron, who is leaving the company after 10 years. Valerie Insignares, Darden's chief restaurant operations officer, will take over as president of LongHorn.
First Published January 10, 2013 12:00 am