Gas Prices Jump, AT&T Strike, Jones Lang LaSalle, First Energy

Tribune-Review/Pittsburgh Tribune-Review, August 8, 2012 | Go to article overview

Gas Prices Jump, AT&T Strike, Jones Lang LaSalle, First Energy


Gasoline rises to 12-week high on supply concerns

Gasoline rose to a 12-week high as refinery shutdowns increased supply concerns and stronger Brent crude boosted the cost of shipments of fuel from abroad and imported oil used at plants. Futures gained as a fire that shut the crude unit at Chevron Corp.'s Richmond refinery in California follows outages in the Midwest and Gulf Coast. Futures prices broke above $3 a gallon for the first time since May. Gasoline for September delivery rose 6.91 cents, or 2.4 percent, to $2.9913 a gallon on the New York Mercantile Exchange, the highest settlement since May 11. In Western Pennsylvania, the average price of regular jumped 9 cents this week to $3.601, AAA East Central said. But the price remains lower than a year ago when it was $3.699. Prices in the region ranged from a high of $3.651 in Washington to a low of $3.511 in Uniontown. The national average this week is $3.634.

URA looking for developers for Saks Fifth Avenue property

The city Urban Redevelopment Authority is expected to vote on Thursday to issue a request for proposals from developers for a proposed 500-space parking garage on the closed Saks Fifth Avenue site, Downtown. The developer of the garage, to be built in conjunction with the Pittsburgh Parking Authority, would also have development rights for office, residential, hospitality, and/or other uses. The Parking Authority board recently authorized a search for a financial adviser to determine if the authority is in a position financially to support a new bond for the garage. URA has an option to buy the building, at Smithfield Street and Oliver Avenue for $4 million.

AT&T workers in 3 states stage short strike

More than 20,000 AT&T workers in California, Nevada and Connecticut started two-day strikes on Tuesday to protest what the union called harassment by the company. The phone company is negotiating new contracts with the Communications Workers of America. The company is restricting standard bargaining-support activities such as wearing union stickers and buttons, said Libby Sayre, president of the CWA district covering California and Nevada. AT&T spokesman Marty Richter said the company has been "negotiating in good faith."

NRC suspends final licenses to reassess storing waste

The Nuclear Regulatory Commission suspended final decisions on licenses for power plants until it completes a reassessment of risks related to storing spent atomic fuel ordered by a federal court in June. The action by the five-member NRC in Washington doesn't stop the agency's review of license applications and only final decisions, most of which aren't expected for months, will be held up, Scott Burnell, an NRC spokesman, said. The NRC's rules on permanent storage of nuclear waste failed to fully evaluate risks and new standards must be drafted, the U.S. Court of Appeals in Washington ruled on June 8.

Jones Lang LaSalle named agent for 2 buildings

Jones Lang LaSalle's Pittsburgh office was named leasing agent for two major Downtown office buildings - BNY Mellon Center and 525 William Penn Place. Grant Street Associates had been the leasing agent for BNY Mellon. …

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