Ups and downs

DOWNS to the ongoing difficulty in finding a tenant for the old EastHills Shopping Center in a search that has been underway for four years. Wal-Mart had demonstrated an interest in placing a store there but has stalled its decision, so CB Richard Ellis/Pittsburgh has begun looking elsewhere.

UPS to MDL Capital Management’s expansion into new offices on Smithfield Street. The 11-year-old minority-owned firm is managing $4.1 billion in assets.

DOWNS to the termination of Weirton Steel’s pension plan. Hundreds of its retirees are at risk of losing health care and pension benefits.

UPS to the settlement between Allegheny General Hospital and its 1,300 nurses.

DOWNS to the permanent closing of Froggy’s, the storied Downtown waterhole. Owner Steve “Froggy” Morris closed temporarily early this year, citing Downtown construction as the reason, but has since decided not to reopen because of health reasons and dwindling business.

DOWNS to a lag in hiring and inventory replenishment, despite evidence that the local economy is posting steady gains by other measures.

UPS to the CyLab initiative at Carnegie Mellon University, an umbrella organization planned to serve as a hub for developing Internet security applications.

DOWNS to the breakup of Stargate Inc., once Pittsburgh’s high-flying Internet service provider. The company’s assets have been sold to high bidders in bankruptcy court.

UPS to plans by Adcus Inc., a Korean semiconductor design company to open a research and development operation in Oakland.