Despite Lull, Pittsburgh Poised to Grow Faster

Greater Pittsburgh’s economy is in a precarious situation to start 2017. The seven-county region’s unemployment rate rose sharply through the second half of 2015, nearing 6 percent—a level not seen since 2014 when the recovery was just gaining real momentum. Prior to the 2008–09 recession, Pittsburgh’s unemployment rate mirrored national trends for 20 years. So …

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Josh Gibson on Deck

Pittsburgh’s greatest but still relatively unknown sports hero is about to get a curtain call of a different kind. This spring, Pittsburgh Opera unveils “The Summer King,” the world premiere of Daniel Sonenberg’s tale of the remarkable, short life of baseball legend Josh Gibson. The opera weaves a young black man’s heartbreaking personal tribulations with …

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The Blue-Gray Gnatcatcher

One spring, I ventured south to Savannah, Georgia, for some sun and warmth. As a coastal locale and part of the Atlantic flyway, it was rich with avifauna heading back to nesting territories farther north in places like western Pennsylvania. It was March, and the streets of that wonderful city were alive with flowering trees, …

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Finley, McClendon, Castillo, Hill, Shiller, Newton, McKone

On July 1, Macon Paine Finley will become head of the Ellis School. She comes to Pittsburgh from St. Louis, where she has been assistant head of school at the John Burroughs School since 2012. Her appointment comes on the heels of celebrating The Ellis School’s 100th anniversary. Before joining Burroughs in 2000, Finley served …

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Loose Change, Part IV

Last week we solved the problem of reforming a defective Affordable Care Act in a simple and brilliant manner. Alas, not all the changes Americans want—and voted for—will be so simple to effect. For example, let’s turn to: Russia Although President Obama entered office promising to “reset” America’s relations with Russia, he left office with …

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Recreational Opportunities

Southwestern Pennsylvanians think highly of the parks, trails and other recreational amenities in the region and survey data suggest most base their views on firsthand knowledge. The accessibility and quality of outdoor recreational opportunities, whether found in parks and woods or on rivers and streams, are indicators of the quality of life available in the …

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Ballywood Shimmers and Shines

The 2017 American Heart Association’s Heart “Ballywood” shimmered and shined with nearly 550 in attendance, raising $750K for heart and stroke research and education. The evening’s festivities included a silent and live auction, along with live entertainment from First Class Bhangra dance troupe from the University of Pittsburgh and Ronobir Lahiri playing the sitar.

Water Quality: Bromide and TDS

Levels of bromide and total dissolved solids have improved in the Allegheny, Monongahela and Ohio rivers in recent years. But the future is uncertain due to potential new sources. Both are indicators of water quality in southwestern Pennsylvania’s three major rivers. High concentrations of bromide and other salts in streams and rivers pose environmental and …

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Loose Change, Part III

In my last post I breathlessly announced that I held the solution to the American healthcare dilemma in my hot little hands. While the hapless Republicans and Democrats are stumbling around blaming each other and wishing the healthcare issue would just blow away, your humble blogger has solved the problem without breathing hard. In order …

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Confession: Cops and Kids

I done got busted for breaking-and-entering (cue the blues harp and slide guitar). This is a sad tale but I must spare all young people the same sordid fate. One sunny Saturday morning six decades ago in Seattle’s Ballard district, two kids blew open the door of a playground field house, and the rest of …

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General Health Trends

The prognosis for residents’ health in southwestern Pennsylvania is mixed. Heart disease deaths declined over a recent 10-year period in Allegheny County, the most populous of the seven Pittsburgh Metropolitan Statistical Area counties. But across the region, the rate of people reporting fair or poor overall health has increased. Heart disease Allegheny County residents are …

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When I Am Empty

When I am empty I think about you staring back at me in the pouring rain— the family picnic in the Upper Peninsula, my grape pop spilling down the sides of the table, an empty bottle, your lips turned into a smirk, your eyes glinting, you in that moment loving me. I’m empty on the …

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Loose Change, Part II

In my last post we observed how overwhelming the desire for “change” is in America, and we also paused to notice the penalty the Democratic Party has paid for ignoring voters’ wishes. In this post and the ones that follow, I will touch on some of the more important policies and practices that will be …

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Loose Change

Since the Presidential election there has been a lot of loose talk about “change.” In this series of posts we’ll try to tighten up that conversation by identifying some specific changes Americans have on their minds. Specifically, I’ll touch on some of the more controversial changes the new Administration will be evaluating. Before we get …

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Mobility Trends in Pittsburgh

An easy commute is hard to come by in the Pittsburgh region. Traffic delays are longer, transit use lags and transportation costs consume a significant share of household income in many places. Transit use Transit use per capita in Allegheny County fell by about 6 percent between 2003 and 2013. The decrease likely reflects to …

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Is Everything That Didn’t Work Worthless? Part IV

We began this series of posts by examining the sorry state of value investing. We then moved on to making unfashionable arguments on behalf of hedge fund fees and performance. We’ll close the series by looking at the important role hedge funds—and, for that matter, value investing—play in the long-term success of investment portfolios. Hedge …

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Is Everything That Didn’t Work Worthless? Part III

We’re talking about nobody’s favorite subject, hedge funds. Last week we dispensed with the ugly topic of hedge fund fees, and this week we’ll take a deep breath and tackle the even more noxious topic of hedge fund performance. On the surface, the only way to describe recent hedge fund performance is “terrible.” Over the …

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I Am Homeless

Back in 1988, I wrote a series about Pittsburgh’s homeless, based on my living on the streets for 14 days and nights, undercover, with long hair and a beard. I was 26, and the Pittsburgh Press series changed my journalistic trajectory, won national writing awards, and later became part of the landmark Supreme Court media …

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Setting the Steelers Standards

Growing up in a local mill town in the late 1970’s, Steelers’ Super Bowl victories seemed like a birthright. For my generation, it takes little to rattle-off the roster from the ‘79 season, the last of that era’s championship teams. And while the exploits of future Hall-of-Famers Lynn Swann and Jack Lambert live on in …

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Painting? Have Some Fun!

I spent three decades at a job that wasn’t a job, one at which few have actually earned a living. But cartoons disappear when the newspapers are bundled up for recycling. Heck, newspapers disappear. After leaving the newspaper, I began painting… and soon remembered it is darn hard. I venture to say this in spite …

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Graduation Rates

High school graduation rates are improving in southwestern Pennsylvania overall. Yet, in a handful of districts, nearly a third or more students fail to graduate on time. Dropping out or otherwise failing to earn a high school degree robs students of opportunity and puts them at greater risk of being unemployed or working low-paying jobs. …

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Is Everything That Didn’t Work Worthless? Part II

In my last post, we discussed the sorry state of value investing following seven years of rigged markets courtesy of our central bankers. In this post we’ll turn to another category of investing that sits right near the top of so many investors’ Sh*t Lists: hedge funds. Whole books have been written about hedge funds, …

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