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NEWS
February 9, 2012
C. Fred Fetterolf, 83, who retired in 1991 as president of the Pittsburgh aluminum giant Alcoa Inc., died Sunday of complications from a stroke. He was born in Huntingdon, Pa., and first worked for Alcoa as a salesman in 1952. He served in a variety of executive positions before becoming president. Mr. Fetterolf served on the corporate boards of several other companies and did work for various nonprofit charities that included volunteer service for inner-city organizations that served at-risk youths, as well as serving on the boards of Grove City College, the University of Pittsburgh, and Carnegie Mellon University.
BUSINESS
July 8, 1998 | The Philadelphia Inquirer
Stocks faltered in a bid at new highs despite a strong profit report from Alcoa, the first of the Blue Chips to report. Most broad-market indexes also fell.
BUSINESS
May 18, 1991 | the Inquirer staff
Mr. Goodbuys, a chain of 12 stores specializing in home-improvement supplies, said yesterday that it had filed for protection from creditors in U.S. Bankruptcy Court in New York. The company said it had received a commitment for up to $20 million in loans from CIT Group/Business Group Inc. The bankruptcy filing, said president Stephen W. Underwood in a statement, will allow the company to "reorganize our finances in a shorter time frame, and free ourselves from burdensome commercial real estate obligations.
NEWS
November 24, 1993
A LIGHTER CAR OF THE FUTURE? With the start this month of commercial production at the world's first plant for volume production of aluminum body structures, Audi and Aluminum Company of America have started to take car manufacturing into new territory. . . . Alcoa should then begin to obtain a clearer idea of how much potential exists among other manufacturers for a car-construction concept offering substantial weight savings over steel, and thus better fuel consumption and reduced exhaust emissions, but at much higher material cost.
NEWS
March 18, 2013
ONE SECTOR that's missing the big run-up in stocks is the metals industry, including Pittsburgh-connected firms with stocks at 52-week lows. U.S. Steel's shares closed on Friday at $20.21 after reaching $26 in early January. Alcoa closed at $8.63, about where it has traded for most of the past 12 months after attaining a high of $10.60 last March. -Pittsburgh Tribune-Review
BUSINESS
January 11, 2012 | By Daniel Wagner, Associated Press
U.S. stocks rose solidly Tuesday after European markets rallied and corporate bellwether Alcoa predicted stronger demand in 2012. The Standard & Poor's 500 index closed at its highest level since July. European markets soared after Fitch Ratings said that it would not downgrade France's credit rating this year. France's CAC-40 index closed 2.7 percent higher; Germany's DAX rose 2.4 percent. A downgrade for France could scuttle the region's efforts to stem its debt crisis. Europe's bailout fund needs France and Germany to keep their sterling credit ratings so it can borrow at affordable rates.
NEWS
September 2, 2011
David P. Reynolds, 96, a metals manufacturing executive who helped put aluminum foil and aluminum beverage cans into the American kitchen, died Monday in Richmond, Va. Mr. Reynolds was the last member of his family to lead Reynolds Metals, which was founded in 1919 by his father, Richard Sr., and grew to become the nation's second-largest aluminum manufacturer behind Alcoa. Reynolds was sold to Alcoa in 2000, five years after Mr. Reynolds stepped down from its board. He joined the family business as a salesman out of college in 1937 and began trying to persuade the major St. Louis breweries to affix aluminum labels to their beer bottles.
NEWS
December 21, 2000 | By Ken Moritsugu, INQUIRER WASHINGTON BUREAU
President-elect George W. Bush's choice for treasury secretary set financial markets abuzz yesterday with one big question: Who's Paul O'Neill? "Don't know anything about him," said Edward Yardeni, the chief economist in New York for Deutsche Bank. "He's not on my radar screen. " Although the selection of the relatively unknown chairman of Alcoa created some nervousness on an already jittery Wall Street, the general sentiment was cautious optimism. "He's obviously very talented, but he's not well-known by the markets," said David Greenlaw, an economist at Morgan Stanley Dean Witter.
BUSINESS
June 16, 1998 | Daily News staff, Bloomberg News and wire reports
finance Goldman Sachs goes public After 129 years, Goldman, Sachs & Co. will end the last major private partnership on Wall Street by selling as much as 15 percent of the investment firm's stock to the public. The offering will probably occur this fall and represent 10 percent to 15 percent of the firm's stock. Goldman has thrived as a traditional investment bank that focuses on trading, underwriting and providing advice to corporations, governments and wealthy clients.
BUSINESS
October 11, 2012 | By Matthew Craft, Associated Press
NEW YORK - Downbeat reports from Alcoa and Chevron at the start of corporate earnings season pulled stock indexes lower for a third straight day Wednesday. The Dow Jones industrial average slumped 128 points, its steepest loss since late June. Alcoa, the Pittsburgh aluminum producer, beat Wall Street's earnings estimates on Tuesday night but said it expects a slowdown in China to weaken demand for aluminum. Its stock fell 42 cents Wednesday to $8.71. The company is often used as a bellwether for the global economy.
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NEWS
March 18, 2013
ONE SECTOR that's missing the big run-up in stocks is the metals industry, including Pittsburgh-connected firms with stocks at 52-week lows. U.S. Steel's shares closed on Friday at $20.21 after reaching $26 in early January. Alcoa closed at $8.63, about where it has traded for most of the past 12 months after attaining a high of $10.60 last March. -Pittsburgh Tribune-Review
BUSINESS
February 20, 2013
In the Region Diagonal Consulting acquired by G3   Following the recent collapse of its debt-burdened parent company, Diagonal Consulting has been acquired by G3 Global in a cash transaction for an undisclosed amount. Berwyn-based Diagonal is a systems-integration firm that helps large businesses implement SAP software. Diagonal president Steve Woodgate said the deal came together in about two weeks after 2e2, a large U.K. information-technology services firm, fell into administration - the equivalent of a Chapter 11 filing in the United States - in late January.
BUSINESS
October 11, 2012 | By Matthew Craft, Associated Press
NEW YORK - Downbeat reports from Alcoa and Chevron at the start of corporate earnings season pulled stock indexes lower for a third straight day Wednesday. The Dow Jones industrial average slumped 128 points, its steepest loss since late June. Alcoa, the Pittsburgh aluminum producer, beat Wall Street's earnings estimates on Tuesday night but said it expects a slowdown in China to weaken demand for aluminum. Its stock fell 42 cents Wednesday to $8.71. The company is often used as a bellwether for the global economy.
NEWS
February 9, 2012
C. Fred Fetterolf, 83, who retired in 1991 as president of the Pittsburgh aluminum giant Alcoa Inc., died Sunday of complications from a stroke. He was born in Huntingdon, Pa., and first worked for Alcoa as a salesman in 1952. He served in a variety of executive positions before becoming president. Mr. Fetterolf served on the corporate boards of several other companies and did work for various nonprofit charities that included volunteer service for inner-city organizations that served at-risk youths, as well as serving on the boards of Grove City College, the University of Pittsburgh, and Carnegie Mellon University.
BUSINESS
January 11, 2012 | By Daniel Wagner, Associated Press
U.S. stocks rose solidly Tuesday after European markets rallied and corporate bellwether Alcoa predicted stronger demand in 2012. The Standard & Poor's 500 index closed at its highest level since July. European markets soared after Fitch Ratings said that it would not downgrade France's credit rating this year. France's CAC-40 index closed 2.7 percent higher; Germany's DAX rose 2.4 percent. A downgrade for France could scuttle the region's efforts to stem its debt crisis. Europe's bailout fund needs France and Germany to keep their sterling credit ratings so it can borrow at affordable rates.
NEWS
September 2, 2011
David P. Reynolds, 96, a metals manufacturing executive who helped put aluminum foil and aluminum beverage cans into the American kitchen, died Monday in Richmond, Va. Mr. Reynolds was the last member of his family to lead Reynolds Metals, which was founded in 1919 by his father, Richard Sr., and grew to become the nation's second-largest aluminum manufacturer behind Alcoa. Reynolds was sold to Alcoa in 2000, five years after Mr. Reynolds stepped down from its board. He joined the family business as a salesman out of college in 1937 and began trying to persuade the major St. Louis breweries to affix aluminum labels to their beer bottles.
NEWS
August 2, 2011 | ASSOCIATED PRESS
PHILADELPHIA - Federal officials say an Alcoa subsidiary in central Pennsylvania will pay more than $540,000 to settle claims that it discriminated against minorities and women. Alcoa Mill Products Inc. will pay about $485,000 in back wages to 37 Hispanics and African-American men who were denied jobs at the plant in Lancaster. Two women will split about $35,000. The settlement announced Tuesday by the Labor Department resolves a finding that the company discriminated against minority and female applicants for material handler positions.
BUSINESS
April 13, 2011 | By Stan Choe and Matthew Craft, Associated Press
NEW YORK - The Dow Jones industrial average lost more than 100 points Tuesday after Japan raised the severity ranking of its nuclear crisis and Alcoa Inc. reported disappointing sales. A drop in oil prices pulled down energy stocks. Markets also fell in Asia and Europe after Japan said the crisis at its crippled nuclear plant was as serious as the 1986 Chernobyl accident, though much less radiation has leaked. The plant in northern Japan was damaged in the March 11 earthquake and tsunami disaster.
NEWS
July 31, 2008 | By Sally A. Downey INQUIRER STAFF WRITER
David A. Surbeck, 66, of Wayne, an innovative architect and entrepreneur, died of complications from a spinal tumor July 23 at Bryn Mawr Hospital. In 1991, Mr. Surbeck cofounded Jet Stream Manufacturing in West Conshohocken. The company developed a method to cut metals and ceramics with high-pressure liquids. Its projects included the Columbus Memorial metal sculpture in Philadelphia, a world map reproduced in marble for the floor of a New Jersey business, brass letters and stars embedded in terrazzo floors for Planet Hollywood restaurants, and aluminum instruments used to hold open horses' mouths for dental work.
BUSINESS
January 10, 2006 | By Harold Brubaker INQUIRER STAFF WRITER
Alcoa Inc. plans to announce a major expansion this morning of its packaging plant in Downingtown, adding 140 jobs for a total of 340. The Pittsburgh company is closing factories in Illinois and Rhode Island and moving equipment and jobs to Downingtown, where it will expand its pharmaceutical- and medical-packaging operations. The plant also prints film for candy wrappers and plastic labels for products such as Nesquick milk drinks, Carnation Coffee Mate and Fuze beverages.
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