Ups and downs Featured

10:32am EDT October 31, 2002

UPS to PNC's decision to set up an ethics hotline for employees to report possible misconduct to its corporate ethics office and board of directors.

DOWNS to the shutdown of Hours To You, a grocery delivery service that showed promise when times were good but lost its appeal when the economy took a downturn.

UPS to mounting charges against the managers of cable TV giant Adelphia Communications Corp. The corporation's crooks will pay, we hope, but what about the penalties paid by shareholders, employees and customers?

DOWNS to the shutdown of the Family Toy 15-store chain. Christmas just couldn't come fast enough for the 80-year-old company, a victim of a sluggish economy in the short term and an onslaught of big box retailers over the long haul.

UPS to the reopening of the long-time Pittsburgh favorite Colony Restaurant after it was closed for more than a year for renovations.

UPS to a $240 million deal that will bring sorely need cash to US Airways in exchange for a 37.5 percent share in the company for Retirement Systems of Alabama.

UPS to Highmark's selection of Ken Melani as CEO to succeed John Brouse, who will retire at the end of the year. The affable physician should prove a calming force on the region's sometimes turbulent and contentious health care scene.

UPS to some good news out of Marconi. The company has landed the first sale of its most advanced computer networking switching equipment, a technology developed at the company's Pittsburgh operations, to the U.S. Defense Department.