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Newspaper
New Castle News
Location
New Castle, Pennsylvania, United States of America
Date
May 26, 2000
Page
7
FedEx Ground formerly RPS began a $21 million 156000 square foot expansion at its Moon Allegheny County headquarters. The project could add up to 800 new jobs, joining the 1600 already employed. The division was renamed FedEx Ground in January to compete with UPS.
Pittsburgh’s gross metropolitan product last year totaled 73.17 billion dollars, ranking 27th among the top 100 U.S. markets. New York led the list with 391.5 billion, in a survey by the National Association of Counties and the United States Conference of Mayors.
Concentra Medical Centers will enter the Pittsburgh market through a partnership with UPMC Health System. The move aims to manage outpatient and on-site occupational health services and create up to 150 new jobs with three planned new sites.
United Airlines to acquire US Airways for 4.3 billion in cash and assume debt and leases, boosting deal value to 11.6 billion. Boards approve, creating a potential ripple effect of consolidations that could yield fewer choices and higher fares, with critics warning of reduced competition and labor hurdles amid billionaire ownership and regulatory scrutiny.
The record notes that figures are from 10 25 a m today and over the counter stocks show bid prices with quotes supplied by Parker Hunter Inc New Castle office.
United Airlines moves to merge with US Airways, creating a dominant Northeast network anchored by hubs in Philadelphia Pittsburgh Boston Reagan National and New York LaGuardia. The $60 a share offer values US Airways at a 131 percent premium, with 6,500 daily United flights and 40,000 US Airways employees affected. Regulatory review and antitrust scrutiny loom as industry rivals lobby against the deal.
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