Money Archives - Page 24 of 27 - Pittsburgh Quarterly

Buckle your seat belts. This is going to get weird and metaphysical. My purpose is to turn the prism a little bit and try to make sense of something that I believe makes no sense. This would be a good time to get the children out of the room. Currently, (Bloomberg 3-18-2016), negative interest rates …

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Business

Expat Paul Scripko Sets the Stage

by Paul Scripko

A few years ago at Southwestern University in Texas I attended a lecture given by Michael Chabon, author of those two love letters to Pittsburgh, “The Mysteries of Pittsburgh” and “Wonder Boys”. At the start of the evening he asked “Who in the audience is from Pittsburgh?” A number of us raised our hands and …

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Innovation

The Internet of Things

by Tom Imerito

We carry our smartphones everywhere, and they connect us to everything. We feel comfortable talking to them and having them talk back. We call them phones, but they’re pocket computers, as powerful as the supercomputers of a decade ago. We use them as calculators, cameras, memory aids, executive assistants, voice recorders, word processors, road maps, …

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Innovation

Beyond difference

by Katie Booth

Even before the performance of “Land of Oz” begins, it’s obvious that different rules apply here. Eyes dart around the auditorium and settle down in focused “listening”—sight is the primary way people here share information. To get someone’s attention, wave a hand in the air. To ignore someone, at which the high schoolers are particularly …

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Innovation

Wanted: More Workers (Part III)

by Evan Pattak

With baby boomers poised to retire and far fewer younger, skilled people available to replace them, the region faces a potentially crippling workforce gap that could be especially damaging in sectors that require STEM (science, technology, engineering math) skills. The Allegheny Conference on Community Development estimates that the gap could reach 144,000 workers, although that’s …

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Money

The Interest Rate Dilemma

by PQ Staff

Each year in our summer issue, we ask a group of the region’s leading wealth managers to help our readers navigate financial waters by responding to a question. Their answers follow in reverse alphabetical order. If you were the Federal Reserve Board Chair, when and how would you raise interest rates (if at all), and …

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Business

The New Marcellus Debate

by Seamus McGraw

It has become the new flash point in the battle over the development of the Marcellus, with advocates for development facing off against opponents, not in remote fields in rural Pennsylvania, but all over the region. And it’s not just about drilling anymore. The new battle over the Marcellus is being fought over hundreds of …

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Business

Marcellus Shale: A Tricky Situation

by Seamus McGraw

For years, it’s been a common rallying cry among activists that the Commonwealth of Pennsylvania has coddled its burgeoning natural gas industry at the expense of other state priorities. Perhaps nothing, they contend, has been more emblematic of that cozy relationship than the fact that Pennsylvania is the only active drilling state in the union …

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Business

AC / DC

by Ben Schmitt

Three University of Pittsburgh professors have seen the future in electrical innovation, and it begins in Homewood. They’re talking about an electrical revolution, and it’s fitting that Pittsburgh and one of its poorest neighborhoods could play a large role. In the late 1880s, Pittsburgh’s most famous Homewood resident, George Westinghouse, prevailed in what has since …

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Business

The Battle for Cleaner Energy

by Seamus McGraw

For two days this past summer, the streets around the William S. Moorhead Federal Building, downtown, were ringed with cops and jammed with largely orderly protestors, some in camouflage, others in tie-dyed T-shirts. They were drawn, as they had been at other cities around the country, to make their voices heard on the U.S. Environmental …

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Business

The Export Dilemma

by Seamus McGraw

As the Shale-driven production of natural gas has expanded in recent years, so too has the demand from much of the industry to unleash that resource on the world market. And that chorus of voices calling for the United States to use gas from fields like the Marcellus to tap into the world market has …

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Business

A century of safety

by Evan Pattak

It was June 1914 when John T. Ryan Sr. and George Deike, two federal mine rescue engineers horrified by the carnage they’d seen in coal mine explosions, formed a company dedicated to making the industry safer. Ryan and Deike enlisted the services of no less a luminary than Thomas Alva Edison to design an electric …

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Innovation

Kissing My Privacy Goodbye

by Tom Imerito

I first became aware that my online privacy wasn’t nearly as confidential as I thought while shopping online with my sister who lives in Florida. Separated by 1,000 miles, phones pressed to our ears, eyes glued to computer screens, my price for a particular web cam was a bargain at $3.37; hers was $4.66, over …

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Business

Passing the test

by Evan Pattak

Think you’d like to be CEO of a major corporation? Best get ready for this test: The employer informs you that over the next day and a half, you’re the leader of a hypothetical company. You prepare by reading reams of hypothetical reports generated by your hypothetical company. As you arrive at your computer, you’re assaulted …

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Money

Zero Interest Rate Zone

by PQ Staff

Each year in our summer issue, we ask a group of the region’s leading wealth managers to help our readers navigate financial waters by responding to a question. This year, the question is: In your opinion, what will be the ultimate impact of the Federal Reserve’s zero interest rate policy in the short term and …

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Business

Does This Change Everything?

by Seamus McGraw

It’s been nearly six months since the state Supreme Court rocked Pennsylvania by striking down key portions of Act 13, Gov. Corbett’s signature legislation on Marcellus Shale drilling. But even now, the full impact of the decision—and what it bodes for the future of the drilling industry in the state—remains unclear. In fact, say legal …

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Business

Shale Gas & the Environment

by Jeffery Fraser

For years the well pads, truck traffic and logos of energy companies large and small multiplied across counties like Washington and Greene as southwestern Pennsylvania became a poster child for the rush to extract natural gas trapped in the Marcellus Shale. It was in such a climate that the region recently assumed a new identity …

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Business

Still Changing at 150

by Evan Pattak

On April 19, 1864, America was preoccupied by several rather sizable events, including the Civil War and the recent emancipation of slaves. So citizens could be excused if they paid scant attention to the festivities that day in Cumberland, Md., where an entity called Consolidation Coal Company launched its operations by selling 1,000 shares of …

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Business

The Royalty Rub

by Seamus McGraw

When Mary Jane Foelster and her husband, Richard, retired five years ago and left Philadelphia for a secluded 50-acre tract of land in Bradford County, they never figured they’d get rich. In fact, until they were about to close on the property, they didn’t even know that the previous owners had signed a lease with …

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Money

A few (awkward) questions for your financial advisor

by PQ Staff

Suppose you were Mr. Moneybags, with, oh, say, a billion dollars to worry about. How would you go about finding a good financial advisor? The first thing you’d do would be to talk to a lot of other families like you. If they’ve worked for years with a financial advisor and are happy, that’s a …

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Business

Red Flags Rising

by Seamus McGraw

It’s been more than a year since Maria van der Hoeven, executive director of the International Energy Agency, stepped to the lectern on a sweltering summer day in Houston and issued a stern warning to a gathering of energy executives. She acknowledged the potential advantages of the unconventional shale gas boom—from increasing the nation’s energy …

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Retirement

The Retirement Question, Part III

by PQ Staff

This is the final installment in a three-part series about retirement in our region. Mark D. Bondi President & CEO Sherwood Oaks Retirement Community What kind of future do you want? Experts tell us that there are several components to feeling well, including the emotional, spiritual, cognitive, social, physical and vocational aspects of life. As …

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