Business news briefs: Outside investment to help Primanti expand market
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Outside investment to help Primanti expand market
Primanti Bros. has been representing the region for years in travel pieces and stories about signature Pittsburgh cuisine, but now the South Side-based restaurant chain has accepted outside investment to help drive expansion beyond its core market. The company announced this week that Catteron Partners, a private equity firm in Greenwich, Conn., intends to "enhance Primanti Bros.' growth and brand development and support the expansion of the Primanti Bros. concept to help take our company to the next level." No time frame was given. Other Catteron investments include Noodles & Co. and Edible Arrangements. Primanti has locations in Pennsylvania and Florida.
FTC levels civil penalties following mislabeled textiles
The Federal Trade Commission has leveled civil penalties totaling $1.26 million on four retailers to settle charges of labeling products as being made of environmentally-friendly bamboo, when they were really made of rayon. Amazon.com; Sears, Roebuck and Co., including its Kmart subsidiaries; Macy's; and Leon Max will pay the settlements at various levels, reflecting "how long the companies continued to sell mislabeled textiles after receiving an FTC warning letter in early 2010," the agency said. At that time, the agency said it sent warning letters to 78 companies.
November factory orders flat after October increase
Factory orders were flat in November, compared with October when orders had risen 0.8 percent, the Commerce Department said Friday. Durable goods, everything from autos to steel, rose 0.8 percent while nondurable goods fell 0.6 percent. Orders for core capital goods, a category considered a proxy for business investment plans increased a solid 2.6 percent after a 3 percent rise in October.
GM recalls trucks, SUVs for steering column issue
GM announced Friday that it was recalling 54,686 trucks and SUVs for an issue with the vehicles' steering column that could allow the vehicle to roll away unexpectedly. The recall includes the Chevrolet Avalanche, Express, Silverado, Tahoe and Suburban; the Cadillac Escalade, Escalade EXT, and Escalade ESV; and the GMC Sierra, Yukon, Yukon XL and Savana. All vehicles are 2013 models and were manufactured between Nov. 7 and Dec. 18. GM will contact owners starting Jan. 22.
Also in business ...
O'Hara-based grocer Giant Eagle confirmed it is testing Alula kiosks in the Columbus, Ohio, market that let customers exchange unwanted gift cards for a percentage of the value on the cards. The amount offered varies by card, according to the Columbus Dispatch. ... Findlay retailer Dick's Sporting Goods Inc. has named J.M. Smucker Co. President and Chief Operating Officer Vincent C. Byrd to serve on its board, effectively immediately.
First Published January 5, 2013 12:00 am