Dunlop's Damon's now down to three locations
The Damon's Restaurant in the Bridgeville-Collier area has closed, leaving three Damon's still operating in the Pittsburgh region.
"We closed the restaurant because our lease was expiring, a new owner was taking over Collier Town Square, where we were located and business there had declined," said Ed Dunlap, the owner. At one time Dunlap had five Damon's opened in the region.
The three Damon's still open in the region are located in U.S. Steel Tower, Downtown; in Robinson at 5205 Campbell's Run Road; and the third, called Damon's Grill and Sports Bar, on Clairton Boulevard in Pleasant Hills.
Besides the Collier's Damon's, previously closed a Damon's in Peters.
Dunlap recently opened Pittsburgh Grille & Sports Bar in the DelMonte Building, North Shore.
Also closed are two other Damon's, not owned by Dunlap. They were are at the Waterfront in West Homestead and one in Monroeville.
Honda Fit EV gets highest EPA fuel rating
The Honda Fit electric car has received the highest fuel efficiency rating ever from the Environmental Protection Agency, the company said Wednesday.
Honda said the 2013 subcompact received a combined adjusted mile-per-gallon-equivalency rating of 118 mpg.
The Fit consumes 29 kilowatt hours of electricity per 100 miles. It has an EPA rated annual fuel cost of $500. Honda said the EPA estimates its combined city and highway driving range at 82 miles on a single charge.
By comparison, Honda said the electric Ford Focus has a combined adjusted mile-per-gallon-equivalency rating of 105 mpg and a 76-mile range, while the Nissan Leaf has a combined rating of 99 mpg and a 73-mile range.
Honda plans to lease the Fit EV in some California and Oregon markets later this summer, and it will hit the East Coast next year. Initially the company plans to lease the cars for three years at a cost of $389 per month. No other pricing details have been released.
Low interest rates hamper retirement plans, survey finds
Ultra-low interest rates on retirement accounts may force many Americans to delay their golden years, according to a new survey.
One-third of investors say they may have to put off retirement because low rates are preventing them from earning enough in retirement accounts, according to the poll by Wells Fargo and Gallup released Wednesday.
Would-be retirees are compensating by working longer or scaling back their retirement dreams.
Some people are taking more investment risks. Slightly more than one-quarter of pre-retirees, and 19 percent of current retirees, say they are making investments they otherwise "might have avoided," according to the Wells Fargo-Gallup Investor and Retirement Optimism Index Survey.
Kenneth Cole board approves designer's takeover
Fashion designer Kenneth Cole will soon own his namesake company in a deal worth $245 million.
The clothing and accessories company says its board has approved Cole's offer to buy up the part of the company that he doesn't already own for $15.25 per share.
That's above his earlier offer of $15 per share, from February, and represents a 17 percent premium to the New York company's stock price before his initial bid.
Kenneth Cole is currently the chairman and chief creative officer of Kenneth Cole Productions Inc. and holds nearly half its outstanding common stock.
The designer says Kenneth Cole Productions Inc. will be able to grow better as a private company than as a public one focused on short-term results.
Taco Bell introducing more upscale menu items
Taco Bell, often a late-night indulgence with its inexpensive fare, is going more upscale.
The chain said Wednesday it plans an early July rollout of a menu addition created by celebrity chef Lorena Garcia for its nearly 5,600 restaurants. New items feature such ingredients as black beans, cilantro rice, citrus- and herb-marinated chicken and cilantro dressing.
The introduction of items that Taco Bell executive Brian Niccol described as "gourmet Mexican," is a venture onto the turf of casual-dining chains such as Chipotle Mexican Grill and Qdoba Mexican Grill known for higher-quality ingredients.
It's a departure from such standards as tacos, burritos and chalupas that Taco Bell's core young-adult customers crave and that will remain mainstays on menu boards.
Introduction of the Cantina Burrito Bowl and Cantina Burrito is part of the Irvine, Calif.-based chain's transformation as its customers increasingly look for more than a quick bite on the go, said Niccol, Taco Bell's chief marketing and innovation officer.
