Business briefs
Nissan, Duquesne Light partner on $3,000 rebate
Duquesne Light Co. said its customers are eligible for a $3,000 rebate until June 30 on the purchase of a 2018 Nissan Leaf, following a partnership struck with the automaker. The rebate is the latest effort by Duquesne Light to get more electric vehicles on the road in the Pittsburgh region. The Downtown-based electric utility, which has 500,000 customers in Allegheny and Beaver counties, is in the second year of a campaign to promote EVs as a smart investment. The Nissan Leaf costs between $30,000 and $36,000, depending on the model.
Kraft Heinz chooses 5 food startups for incubator class
Kraft Heinz Co.’s Springboard Brands project announced its first class of brands for an incubator program. The list includes a beef jerky product created by brothers from South Africa; a sauce business known for its Venezuelan-inspired Avocado Sauce; and two Chicago-connected startups — one making antioxidant lemonade and the other crunchy egg-white chips. The food giant, headquartered in Pittsburgh and Chicago, has also chosen to incubate Cleveland Kraut, a fermented foods business. The 16week program brings $50,000 in funding for each brand that could give Kraft Heinz future equity in the products, with a chance for the startups to pick up as much as $50,000 more.
Mouse infestation at Popeye’s in Oakland triggers consumer alert
Popeye’s Louisiana Kitchen on Fifth Avenue in Oakland was hit with a consumer alert by the Allegheny County Health Department for a significant and persistent mouse infestation. An inspector found live and dead mice, along with droppings in different parts of the restaurant. The restaurant also was cited for a mouse problem last year and in 2016, but no alerts were posted. Owner John Laylock Jr. said he hoped to have the yellow alert placard taken down as early as Tuesday. “We were doing pest control. Now we are doing what we need to do in the other part of the building,” he said. Inspection reports for food facilities are available online at www.achd.net.
Nucor plans $240M steel expansion in Arkansas
A North Carolina-based steel company is furthering its expansion in northeast Arkansas with a planned $240 million sheet metal production line. Arkansas Business reports Nucor Corp. announced the galvanizing line for the company’s plant in Hickman. The line is expected to operate by 2021 with capacity to produce half a million tons of steel sheet metal annually.
Fitch says probe shouldn’t impact PPG credit rating
Fitch Ratings said it’s unlikely PPG’s credit would be downgraded after the company last week disclosed details of an internal investigation of improper accounting practices. The credit rating agency said the Downtownbased paints maker has strong liquidity and corporate governance and took “swift action” to address problems including errors in its firstquarter report that would result in a net decrease in income before taxes of $7.8 million. Last week, PPG said it fired its controller and reassigned other employees in connection with the probe. The company said it would refile its results for the quarter that ended March 31. It also found errors in some quarterly reports from 2017 and said results from all of last year “should no longer be relied upon.”
Sears exploring sale of Kenmore, other assets
Sears Holdings Corp. is considering selling its storied Kenmore brand along with other related assets. The ailing company, which operates department stores under the Sears and Kmart names, says a special committee of its board is starting a formal process to explore the sale. The move comes almost a month after the retailer said it received a letter from its largest shareholder ESL Investments, headed by Sears Chairman and CEO Edward Lampert, expressing interest in all or some of the assets.
Electronics maker buying stake in Peanuts Holdings
Japanese electronics maker Sony Corp. said it is buying a stake in Peanuts Holdings, the company behind Snoopy and Charlie Brown. Sony Music Entertainment signed a deal with DHX Media, based in Nova Scotia, to acquire 49 percent of the 80 percent stake DHX holds in Peanuts. Under the deal, Sony Music will own 39 percent and DHX 41 percent. The family members of Charles Schulz, the creator of Peanuts, will continue to own 20 percent of Peanuts.