Roundup: Art Institute to relocate to Strip District; Atlanta Fed president leaving; more
Art Institute of Pittsburgh will be relocating to the Strip District in April after the for-profit college could not agree to lease terms with its landlord.
The institute, which has 700 students, will relocate to 1400 Penn Ave., where parent company Education Management Corp. has offices, spokesman Bob Greenlee said Tuesday. The Institute has been at 420 Boulevard of the Allies for 16 years.
Downtown-based EDMC has moved to close 19 of its 51 Art Institute campuses amid declining enrollment and financial woes. However, it has no plans to close the Pittsburgh campus, Greenlee said.
Atlanta Fed president will leave in February
Dennis Lockhart, the president of the Federal Reserve's Atlanta regional bank, has announced plans to step down in February.
Lockhart is leaving after a decade as president of the Atlanta bank, one of the Fed's 12 regional banks. Lockhart said he plans to pursue his interests in public policy, civic work and private business after stepping down Feb. 28.
Lockhart has been a supporter of Fed Chair Janet Yellen's cautious approach to raising interest rates.
Thomas Fanning, the chairman of the Atlanta Fed's board of directors and the president of Southern Company, will lead a committee that will conduct the search for Lockhart's replacement.
Marie Gooding, the Atlanta bank's vice president, will serve as interim president if a successor is not found by Feb. 28.
Alaska Airlines tops on-time ratings
Alaska Airlines slipped past rival Hawaiian Airlines to post the best on-time rating for U.S. carriers in July.
A total of 21 planes were stuck on the ground longer than federal rules allow — three hours for domestic flights, four for international ones.
Eight of the long delays were on Delta or Delta Connection, and five were on United.
It was the highest monthly number of long delays in more than a year — since there were 24 in February 2015 — and it could mean fines for the airlines involved.
The Department of Transportation said Tuesday that 75.2 percent of flights on the 12 largest U.S. airlines were on time during July. That's down from 78 percent in June and 78.1 percent the previous July.
Pandora to offer $10 monthly service
Pandora is getting ready to take on Spotify, Apple Music and others with a $10 monthly streaming music service and a cheaper option as well.
The Internet radio company is declining to say how much the lower-priced service will cost, but it says both options will launch before the end of the year.
The new subscription service from Pandora will give users more control over which songs they want to hear. On Sept. 13, the company announced new licensing deals with Sony Music, Universal Music Group and several independent record labels. It is still in talks with Warner Music Group.