Newspaper article Pittsburgh Post-Gazette (Pittsburgh, PA)

BUSINESS BRIEFS [Derived Headline]

Newspaper article Pittsburgh Post-Gazette (Pittsburgh, PA)

BUSINESS BRIEFS [Derived Headline]

Article excerpt

AG probing high electricity bills

Pennsylvania Attorney General Kathleen Kane is looking into a recent surge in complaints over high electricity bills, mostly from customers who switched to variable-rate pricing, her office announced Wednesday. While utility customers with fixed rates are mostly protected from dramatic price changes, consumers with variable rates are more vulnerable. Ms. Kane is asking that consumers quickly file complaints with her office. More information is available by calling the Consumer Protection Hotline at 1-800- 441-2555.

Longhi's '13 compensation: $5.6M

U.S. Steel president and CEO Mario Longhi was paid $5.6 million last year, according to a proxy statement being sent to shareholders in advance of the company's April 29 annual meeting in Pittsburgh. The amount included stock and option awards valued at $4 million. Mr. Longhi was promoted to president and CEO Sept. 1. His predecessor, John P. Surma, received compensation valued at $12.5 million in 2013, up 12 percent from the previous year. Mr. Surma's totals do not include $1 million in previously issued restricted stock that vested last year.

New homes sales rise at fast pace

Sales of new homes increased 9.6 percent in January to a seasonally adjusted annual rate of 468,000, the Commerce Department reported Wednesday. That was the fastest pace since July 2008. The rise came as a surprise to economists who had been forecasting a sales drop in January, in part because of a belief that activity would be held back by bad winter storms in many parts of the country. The median price of a new home sold in January was up 3.4 percent from a year ago to $260,100.

GM admits probe deficiencies

Alan S. Batey, president of General Motors North America, said Tuesday that the automaker's nearly decadelong investigation of a defect that has now led it to recall 1.4 million vehicles -- and is related to 13 deaths -- "was not as robust as it should have been." The admission came as the automaker tried to explain to the National Highway Traffic Safety Administration why it took so long to recall the vehicles. …

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