Pittsburgh Business Times articles from April 1997

Pittsburgh Business Times archives from April 1997

Computer tax faces likely cut; could be killed.
April 28, 1997... Issue is whether state can afford complete repeal of 6 percent levy HARRISBURG - The state Legislature appears ready to trim or kill the hated 6 percent state sales tax on computer services. At the least, agree legislators and lobbyists,...

Hospitals, insurers spend tens of millions to acquire physician practices - and gain access to patients.
April 28, 1997... The value of Pittsburgh's doctors is not measured solely by their medical acumen, transplants performed or lives saved. At local hospital networks and insurers, it's measured in the incredible sums - well over $50 million - spent to acquire...

Cutting-edge entrepreneurs seek to balance risk, reward.
April 28, 1997... On high-tech's new frontier, failure saddles up next to success Living on the edge carries equal measures of risk and reward. That's why an increasing number of local entrepreneurs are taking a shot at it - producing spectacular successes...

Set aside. (discrimination against minority contractors)(Minority Business Times)(Cover Story)
April 28, 1997... Minority contractors face an uphill battle to win the work to which they - and the government - say they are entitled. DOWNTOWN - Rich Allen is still upset. No longer shocked, but upset. A vocal critic of the opportunities available to...

Penzer lawsuit lays cult claims against rabbis. (developer Richard Penzer)
April 14, 1997... Downtown developer contends partners misused religious court DOWNTOWN - That developer Richard Penzer has acquired some choice Pittsburgh properties in recent years is clear. But many details regarding this real estate empire builder and...

Bankruptcy is the nightmare of every business. Involuntary bankruptcy is a rare, special terror.
April 14, 1997... DOWNTOWN - Thomas O'Connor still remembers the morning of his apparent demise. Reading the newspaper in his bathroom, at 6 a.m., Mr. O'Connor flipped through the pages randomly, not expecting to see the name of his construction firm. But...

DQE's weakness is now its strength. (merger with Allegheny Power System Inc. alleviates cost problems)
April 14, 1997... Stranded costs no longer stranded in $4.3 billion utility merger DOWNTOWN - The financial factors that made DQE Inc. one of the most unappealing, high-cost utilities in America may also have made it an appealing candidate for acquisition....

While Act 57 gains stock, Act 44 is paying dividends. (Pennsylvania workers' compensation system reform legislation)(Special Report: Insurance & Employee Benefits)
April 14, 1997... The original version of comp reform rings up a win Act 57 might be good for area businesses, but Act 44 is already paying dividends. Act 44 was the state legislature's first crack at reforming the state's workers' compensation system....

Crown American Realty Trust. (Proxy Report Excerpts)(Company Profile)
April 14, 1997... (NYSE: CWN) Crown American Realty Trust, based in Johnstown, is the managing general partner of Crown American Properties and a general partner of Crown American Financing Partnership. Together the partnerships own and manage 25 enclosed...

Classy space at a premium, while low-rent is a no-go; commercial real estate market growth keeps to a slow pace. (Pittsburgh, Pennsylvania)(Commercial Real Estate Leasing Guide)
April 14, 1997... Commercial real estate market growth keeps to a slow pace DOWNTOWN - In Pittsburgh, commercial real estate is a zero-sum game, with tenants leaving one building to fill a property across town. "It isn't as dynamic as most people would like...

Unions question low-cost carrier for US Airways.
April 7, 1997... Flight attendants, pilots wary of concessions sought for 'US2' FINDLAY TOWNSHIP - At a time of record profits at US Airways, its unions are in no mood to discuss lower salaries and benefits. In new documents briefing flight attendants on...

Penzer delays Gimbels sale, charging 'cult-like' coercion. (Long Island, NY, developer Richard Penzer; Pittsburgh, PA's Gimbels building)
April 7, 1997... $17 million building sale waits as developer fights rabbi partners DOWNTOWN - The fate of the Gimbels Building lies not in Pittsburgh, but in a New York state courtroom. A Nassau County judge is to decide soon whether to allow the...

Suit charges bias was UPMC policy. (University of Pittsburgh Medical Center)
April 7, 1997... Former personnel staffer's lawsuit alleges a pattern of discrimination OAKLAND - A former personnel worker at the University of Pittsburgh Medical Center claims discrimination was a matter of policy at the region's largest private employer....

A broken bond? In recent years, Pittsburgh has floated bonds to pay bills. As its credit rating slides, can this continue?
April 7, 1997... DOWNTOWN - Imagine a business that, to keep its doors open, sells a piece of furniture each month to pay creditors. Now imagine doing business with this organization every day. You can't? Too late. If you operate in the city of Pittsburgh,...

At the FOREfront. (FORE Systems Inc.'s Francois Bitz)
April 7, 1997... Francois Bitz helped create a market, and a fortune for himself WARRENDALE - Francois Bitz always said he'd be a millionaire at 35. But the Swiss national, who co-founded FORE Systems Inc., was slightly off on his estimate. He passed the...

Banks shop for profits in growing grocery store market.(Special Report: Banking & Financial Quarterly)
April 7, 1997... National City expansion plan challenges Mellon's dominance DOWNTOWN - These days, it's not hard for a supermarket shopper to pick up a quart of milk, a pound of butter and a mutual fund, all on the way home from work. Grocery store banks...