Money Archives - Page 26 of 27 - Pittsburgh Quarterly

Dawn was still hours away when Jim Rohr emerged from National City Corp. headquarters in downtown Cleveland on Oct. 24, 2008. The streets were empty, but familiar. His grandfather’s deli had stood just across the street. Not far from there was where his father had moved the deli, which later became a restaurant. Rohr worked …

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Innovation

Found in Translation

by Jennifer Bails

Come on, Ima, vamanos! That was the exhortation from my 3-year-old recently when she wanted me to hurry up and get out the play dough. Like now, Mommy—before I scream… Interesting, I noticed (after gritting my teeth), that a little girl still grappling with the complexities and pitfalls of English has begun to integrate words …

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Business

A Gas-Based Economy

by Seamus McGraw

It was mid-afternoon in late winter, and the public relations man for one of the larger drilling companies in Pennsylvania was driving me back along a rutted country road from a rig we had just visited. He had been extolling the virtues of the state’s vast cache of natural gas, ticking off the ways in …

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Business

Power Play

by Reid R. Frazier

Six years ago, Keith Schaefer was reviewing a portfolio of companies for a group of investors headed by Pittsburgh financier Sam Zacharias and Andy Russell, the former Steeler. Schaefer and his group were scrutinizing a company that used power lines for telecommunication. As he met with utility executives, the conversation veered off topic. “I realized …

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Business

Workers Wanted: The Marcellus Shale

by Seamus McGraw

It’s early, the sun is just peeking up over those western Pennsylvania hills, and it’s cold and bleak as he pulls into the brightly lit service station-cum-convenience store to fill up the pressed-steel canyon that is the fuel tank of the company-owned Cummins 3500 pickup he’s driving. There’s nothing in the world that Shawn Clark …

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Business

Considering the Alternatives

by Jennifer Bails

In 1926, much of Pittsburgh was still bathed in gaslight, and in that warm, industrial glow, Jim Ferry saw a future for himself, his family, and the city. The gutsy young entrepreneur formed his own business with a $160 loan that his mother signed using her furniture as collateral. He found his first customers by …

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Retirement

The Payoff Pitch

by Cristina Rouvalis

Nellie King is lying on a hospital bed, his once-sinewy muscles flaccid, his face ashen. The man who once hurled sinking fastballs past Frank Robinson and Ernie Banks is so weak from pneumonia that he can barely draw a breath. He has this terrifying sensation of his skin separating from his skeleton. His youngest daughter, Amy, …

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Money

2nd Half Money

by PQ Staff

The past year’s dramatic recovery in stocks now in the rear-view mirror; so what lies ahead for investors? Pittsburgh Quarterly asked a group of regional experts what they expect in the second half of 2010. Specifically, we asked how they view the markets and economy and what they’re recommending in terms of sectors and strategies. Not …

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Retirement

Affording Long-Term Care

by Cristina Rouvalis

For Dr. Saul Silver, buying long-term care insurance for himself was an easy choice. “My father was fully independent a year ago, but now he is driving around in a motorized cart. This is what happens when we get older. You can’t walk. You can’t take care of yourself. This is something we have to …

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Business

We Have the Power

by Reid R. Frazier

Turn on a light bulb. Run the dishwasher. Boot up the computer. Run a Google search. Somewhere, a turbine spins, a coal-laden barge docks near a power plant, a nuclear reactor harvests the bound-up energy of a uranium atom. Electricity generation leads to the release of harmful emissions and a relentless pursuit to extract more …

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Business

Marcellus Shale: Doing it Right

by Seamus McGraw

Oct. 8, 2009, at the Kearns Well near Brush Run, Washington County: As industrial accidents go, this wasn’t a particularly bad one. A valve on a massive water tank had failed. Designed for the low hydrostatic pressures encountered in the flatlands out west, the valve had been no match for the pressures generated by the …

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Business

Oxymoron or Opportunity?

by Jeffery Fraser

From Pittsburgh to the hills of West Virginia, a small army of scientists is racing to tame the billions of tons of carbon vented from coal-burning power plants, working with data sets, computer models, cost analyses and other such tools that belie the drama of their high-stakes investigation. Burning coal casts off nasty pollutants, including …

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Retirement

Choose Wisely

by Cristina Rouvalis

For Dee Strunk, it came down to the screened-in porch. She was touring retirement communities when she saw a charming porch in a carriage house at The Woodlands at St. Barnabus, and she knew this was it. The porch reminded her of the one she loved at her old house in McCandless. “It’s my own …

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Business

The Story of the Marcellus Shale

by Seamus McGraw

For days, they had been rumbling up the rutted dirt track that led to the top of the rocky dome above the rolling fields of Washington County; a ’round-the-clock procession of big rigs carting up thousands of gallons of water. They’d drop their loads, turn around as best they could in the axle-deep mud that …

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Business

Energy & Pittsburgh

by Douglas Heuck

Beginning in this issue and then picking up steam over the next three, Pittsburgh Quarterly is publishing a series examining Pittsburgh’s contributions to and potential in the realm of energy. Few regions in the world are as well prepared as greater Pittsburgh to play a key role in a variety of different energy sectors. When you …

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Retirement

The Business of Retirement Living

by Cristina Rouvalis

Five years ago, a senior citizen wanting to move into a stately retirement community would typically put his name on a list and wait, sometimes for a year or two. Today he would have little trouble finding an apartment in a community that boasts such amenities as indoor pools and spas, a golf simulator and …

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Money

Taking Stock

by PQ Staff

Over the last nine months, investors have read their morning papers, stared at CNBC, and ripped open their brokerage statements with similar results. The financial calculus known simply and profoundly as their net worth has done something of a disappearing act. The S&P 500’s early March lows of 666 represented a 57 percent drop from …

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Innovation

We, robot

by Jennifer Bails

A decade ago, the Wall Street Journal gave Pittsburgh the moniker “Roboburgh” when compiling its list of the nation’s 13 hottest high-tech regions. The Steel City is living up to its 21st-century nickname, making new its rich history of engineering complex things. Scores of local robotics start-ups are driving economic growth by building innovative robots …

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Innovation

Electrifying Knowledge

by Tom Imerito

In 1995, Carnegie Mellon University’s Professor Raj Reddy organized a meeting in Shadyside of the world’s foremost digital thought leaders to discuss the feasibility of electronic libraries. The idea of very large Internet libraries had been gestating in Reddy’s mind for about 15 years, but it was not until then that desktop computers, easy Internet …

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Retirement

Here’s to You, Mrs. Henderson

by Jeffery Fraser

Of all of the thousands of students attending classes at the University of Pittsburgh last fall, Elsie Henderson was perhaps the most extraordinary. For starters, she didn’t walk the Oakland campus with an iPod fixed to her ears or consumed in cell phone conversation. She doesn’t own either of those technologies. She doesn’t even own …

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Business

Six CEOs

by Dennis Unkovic

Enron’s spectacular collapse in 2001, followed by WorldCom’s demise after Bernie Ebbers enjoyed more than $400 million in loans approved by his board of directors, led to the passage of the Sarbanes-Oxley Act of 2002 (SOX). SOX was intended to change the behavior and accountability of publicly traded companies, CEOs, boards of directors and public …

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Business

The China Syndrome

by Dan Fitzpatrick

Annie Wang was 9 when her parents vanished behind the Bamboo Curtain. It was the start of China’s “Cultural Revolution,” a terrible time for anyone in that country with money or status. Communist Party Chairman Mao Tse-tung urged citizens to engage in “class struggle” and the overthrow of “capitalist roaders,” encouraging the political persecutions, betrayal, torture, …

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