Roundup: Economists upbeat; Toomey gets manufacturers' award; more
Economists growing more upbeat about year ahead
Economists are increasingly, but still cautiously, optimistic about growth in the year ahead, with hiring expected to pick up in coming months. A quarterly survey by the National Association for Business Economics released on Monday shows half of the economists polled now expect real gross domestic product — the value of all goods and services produced in the United States — to grow between 2 and 4 percent in 2013. That's up from 36 percent of respondents who felt the same way three months earlier. About half expect sluggish or negative performance, down from 65 percent in October. The latest survey found that 34 percent of firms now expect to expand their payrolls in the next six months, the highest percentage since April of last year.
DeLuca's to open spot in Robinson
DeLuca's Restaurant, a popular Strip District restaurant that offers breakfast and lunch, will open its second location this spring at Robinson Town Centre. DeLuca's has leased a vacant storeroom, with seating up to 100, according to Zamagias Properties. The restaurant has a breakfast menu that includes ice cream sundae pancakes, carved ham, home fries, bagel sandwiches and Italian raisin French toast. Lunches offer milk shakes; on Sunday, there's a brunch.
Toomey tours U.S. Steel Irvin plant
Sen. Pat Toomey said on Monday his role as an advocate for business includes keeping a constant eye on the Environmental Protection Agency. “EPA has an important function ... but sometimes they get a little unreasonable,” Toomey said in West Mifflin, where he received a National Association of Manufacturers legislative excellence award during a visit to U.S. Steel Corp.'s Irvin Plant. Toomey, 51, a Lehigh Valley Republican, said lawmakers “need to make sure the EPA takes a balanced approach.” This is the fourth time the association has honored Toomey.
Hess to sell terminals, close refinery
Hess Corp. said on Monday that it plans to sell its terminal network and close its New Jersey refinery, completing its exit from the refining business and continuing its shift in focus toward exploration and production. CEO John Hess said the shift is part of a multi-year strategy to boost value for its shareholders. The terminal network is along the East Coast and has a total of 28 million barrels of storage capacity in 19 terminals. The Port Reading, N.J., refinery will close by the end of February.
Hostess sells several brands
Hostess Brands Inc. said McKee Foods Corp., maker of Little Debbie snacks, agreed to pay $27.5 million for its Drake's brand and United States Bakery Inc. offered to buy certain bread brands for $28.9 million. United States Bakery agreed to buy the Sweetheart, Eddy's, Standish Farms and Grandma Emilie's bread brands, four bakeries and 14 depots, plus certain equipment, according to court papers. Drake's products include Devil Dogs, Ring Dings, Yodels, Yankee Doodles, Sunny Doodles, Funny Bones and Drake's Coffee Cake. McKee, based in Collegedale, Tenn., will buy the brands and specific equipment. Flowers Foods Inc., based in Thomasville, Ga., will serve as the lead bidder for Hostess' Wonder, Butternut, Home Pride, Merita and Nature's Pride brands, 20 bread plants, 38 depots and other assets. Flowers is offering $360 million, plus $30 million for the Beefsteak brand. An auction is set for Feb. 28.
— From staff and wire reports
Show commenting policy
TribLive commenting policy
You are solely responsible for your comments and by using TribLive.com you agree to our Terms of Service.
We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.
While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.
We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments either by the same reader or different readers.
We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.
We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.
We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.
We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.
- Pirates notebook: Worley bounces back after rough start
- Penguins notebook: Staal insists he never asked for trade to Penguins
- Police arrest 4 in Pitcairn drug investigation
- First Draft: Beer lovers at CoStar take the time to brew it right
- Steelers re-sign WR Heyward-Bey to 1-year deal
- Spring check-up: Gingham is this season’s fashion favorite
- Pitt adds quarterback recruit from Cincinnati
- Review: ‘Wild Tales’ sinks its teeth into 6 tales of revenge
- Putin’s sure Russia wins tug-of-war with West
- Alone at controls, Germanwings co-pilot sought to ‘destroy’ the plane
- Spring training breakdown: Braves 7, Pirates 5