Newspaper article Pittsburgh Post-Gazette (Pittsburgh, PA)

BUSINESS BRIEFS [Derived Headline]

Newspaper article Pittsburgh Post-Gazette (Pittsburgh, PA)

BUSINESS BRIEFS [Derived Headline]

Article excerpt

Aetna ending small group plans to curb losses

Aetna is discontinuing small group health insurance plans in Allegheny and 15 other Western Pennsylvania counties next year in a continuing effort by the Hartford, Conn.-based carrier to curb losses sustained in government-sponsored marketplaces. The cutbacks, which affect groups with fewer than 50 members, will include 10 counties in West Virginia.

Md. firm buying Canonsburg pharmacy software provider

Bowie, Md.-based health care analytics firm Inovalon has an agreement to acquire Creehan Holding Co. Inc. of Canonsburg for $105 million in a cash and stock deal. Creehan is the parent company of Creehan & Creehan, an independent provider of specialty pharmacy and medications management software-as-a-service platforms with annual revenues of about $27 million, according to an Inovalon release. The acquisition is expected to close near Oct. 1.

Covestro adds to leadership

Philipp Polenz was named head of commercial operations for Covestro's North American polycarbonates business. He also was named to the North American Leadership Team and Polycarbonates Global Leadership Team. Germany-based Covestro's North American headquarters is in Robinson. Mr. Polenz, 37, most recently was Covestro's head of regional project management for polyurethanes in Hong Kong, and head of mergers and acquisitions based in Germany.

Third American Airlines regional carrier increases pilot pay

Piedmont Airlines said Thursday it will join PSA Airlines and Envoy Air, two other regional carriers for American Airlines, in boosting first-year pilot pay to $58,800 with a guaranteed job at American Airlines. Starting wages at the Salisbury, Md., carrier will increase from $29.38 to $38.80 an hour. Piedmont will offer new pilots a $15,000 signing bonus, and a $20,000 retention bonus paid in installments after one year of service. PSA Airlines and Envoy Air (formerly American Eagle) announced similar pilot wage increases last week in an effort to lure new aviators at a time when many senior pilots are near the mandatory retirement age of 65, and it's more difficult and expensive to become a pilot. The three carriers operate short-haul or "express" flights for American and merger partner US Airways.

PPG to sell stake in fiberglass ventures

PPG said it will sell its 50 percent stake in two PFG Fiber Glass joint ventures located in Taiwan and China. Nan Ya Plastics, which owns the other 50 percent of each venture, will buy PPG's shares. PPG and Nan Ya created PFG in 1987. Nan Ya is an affiliate of Formosa Plastics Group. PFG makes electronic yard fibers for circuit boards and fiberglass used in automotive parts.

Wal-Mart to face class action over alleged bribery

A U.S. judge is granting class action status to Wal-Mart investors suing the world's largest retailer over allegations that it covered up a bribery scheme in Mexico. …

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