Pittsburgh to appeal ruling over Mount Washington billboard
The fight over the vinyl black and yellow Sprint banner atop Mount Washington may not be over. Allegheny County Common Pleas Judge Joseph James ruled Thursday the advertisement can remain affixed to a former Bayer sign. But Pittsburgh Mayor Bill Peduto’s administration plans to appeal, spokesman Timothy McNulty said Monday. He didn’t immediately know the rationale or timing of the likely appeal. He expects the city has about a month to file. The court decision marked the latest turn in a contentious fight between the city and Lamar Advertising over the iconic billboard, which is nearly a century old. Mr. Peduto is among those opposed to the 7,200-square-foot vinyl ad, which he has called an eyesore. City zoning board members ruled last year, in part, that its installation as a replacement for a nonconforming 4,500-square-foot electronic sign violated zoning code. Judge James overturned that decision.
FedEx to borrow $1.5 billion for pension after tax changes
FedEx Corp. is borrowing $1.5 billion to fund a contribution to its pension plan that it announced last week after the passage of U.S. tax law changes. The company is selling bonds in as many as two parts, it said in a filing Monday. The longer-term portion of the offering — a $1 billion, 30-year security — may yield 1.12 percentage points more than Treasuries, down from initial talk of around 1.3 percentage points, according to a person with knowledge of the matter, who asked not to be identified as the details are private. Memphis-based FedEx had projected obligations of $29.91 billion in its U.S. pension plan as of May 31, and the plan was 88 percent funded as of that date, according to its annual regulatory filing.
Ex-stockbroker ordered to pay over $4M to former clients
A Pennsylvania stockbroker who was kicked out of the securities industry for fleecing customers has been ordered to pay more than $4 million in damages ahead of his federal trial on criminal fraud charges. Wall Street’s regulator ruled last week that Anthony Diaz must pay damages to 19 former clients, noting he failed to respond to arbitration. Once regarded as one of the nation’s top brokers, Mr. Diaz earned millions of dollars by pushing high-fee, high-risk “alternative investments.” His smooth-talking tactics repeatedly landed him in hot water: Records show he affiliated with 11 investment firms in 15 years, getting fired from five of them and resigning from another before the Financial Industry Regulatory Authority finally gave him the boot.
Panera for hire: Chain seeks to help rivals 'clean up' menus
Panera Bread, which has made an effort to strip artificial colors and sweeteners from its food, says it’ll help other companies do the same. The chain says it formed a consulting business that other brands can hire to help tweak their menus. Ron Shaich, Panera’s founder and chairman, says rivals would be willing to work with Panera because they have already asked for advice in the past. But now the company wants to turn that into a business.
More caffeine, please: Keurig is buying Dr Pepper Snapple
Keurig is buying Dr Pepper Snapple Group, bringing together the make-at-home coffee brand with the company behind Dr Pepper soda, Mott’s apple juice and Snapple iced tea. Keurig Dr Pepper, the name of the new company, plans to expand its bottled iced coffee offerings that are sold at supermarkets and convenience stores. And the combined company will tap into each other’s distribution network. The combined company will have about $11 billion in annual sales, which still makes it far smaller than soda makers PepsiCo Inc. and Coca-Cola Co., which had 2016 sales of $63 billion and $41 billion, respectively.
From staff and wire reports
First Published: January 31, 2018, 4:45 a.m.