IN BRIEF
NATRONA HEIGHTS, Allegheny County — Macy's, based in Cincinnati, said Thursday it is closing 11 underperforming stores including the store in the Heights Plaza here.
The West Mifflin store is the only other Macy's in the Pittsburgh region to close.
The Natrona Heights store opened in 1956 as part of the Joseph Hornes department stores, which were bought by the Lazarus division of the Federated Department Stores in 1995. Later the store was renamed and reoutfitted as a Lazarus department store.
In 2003, when Macy's merged with Federated, the Heights store became a Lazarus-Macy's and in 2005 a full-fledged Macy's. The Natrona Heights store has 124 employees.
DETROIT — Provisions of General Motors' and Chrysler's $17.4 billion in federal loans automatically places them in default if union workers strike.A General Motors filing this week with the Securities and Exchange Commission detailed the provision as part of its $13.4 billion in federal loans.A person briefed on Chrysler's $4 billion loan, confirmed Thursday that the Chrysler deal also has a similar provision.The UAW isn't a party to the deal and hasn't threatened a strike, its most potent weapon against the Detroit automakers.The UAW and the automakers have a Feb. 17 deadline to agree to concessions to lower labor costs.
