logo
Former Washington Mall will be demolished this spring to make room for new businesses

Former Washington Mall will be demolished this spring to make room for new businesses

Yahoo20-02-2025

A once thriving mall is getting a second chance at life.
The former Washington Mall in South Strabane Township will be demolished to make room for new businesses. The itself mall closed 11 years ago. County commissions are using part of the $13-15 million of their Covid Relief Funds slated for blighted projects.
County Commissioner Nick Sherman says the property is an eyesore right now, and can be seen from Interstate 70 and 79.
'Hundreds of thousands of cars go by here and when they drive by what do they see? A blighted property. A mall that hasn't been used in over 11 years. That's no jobs and no development,' Sherman said.
'A lot of people came here, it was a new thing at the time, and very popular. We used to come here all the time,' said John DeFillippo, a Canonsburg resident who still visits the China buffet with his wife, one of the only remaining businesses on the property. 'I think malls are dying out. Not like it used to be!'
Sherman tells Channel 11 that a big box retailer is coming as well as some restaurants and an RV dealership. He said it took three years and a lot of lawyers to get to the point where they can finally demolish the building.
'This was monumental to get this done,' Sherman said.
Demolition is set to start in the spring.
Download the FREE WPXI News app for breaking news alerts.
Follow Channel 11 News on Facebook and Twitter. | Watch WPXI NOW

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Everyone should keep an eye on this Persian Gulf island
Everyone should keep an eye on this Persian Gulf island

Yahoo

time21 minutes ago

  • Yahoo

Everyone should keep an eye on this Persian Gulf island

Everyone should keep an eye on this Persian Gulf island originally appeared on TheStreet. Kharg Island is a small island in the Persian Gulf. It lies 16 miles off the northwest coast of Iran. It's 451 miles from Tehran, Iran's capital — roughly the distance from Detroit to New York City. It is just five miles long, about 40% the size of New York's Manhattan Island. And 125 from Iran's border with Iraq. 💵💰💰💵 It is also unique in the Persian Gulf. The island's limestone foundation allows it the luxury of fresh water reserves. Most importantly it also is the key port that exports Iranian crude oil. About 90% of Iran's oil exports flow through Kharg's terminal complex. And about a third of those exports go to could prove to be one of two key strategic places if the Israeli-Iran War (let's call it that for now) spins out of control. The other is the Strait of Hormuz, 21 miles wide at its narrowest, same as the English Channel. About a third of the world's liquified natural gas and 25% of its crude oil must pass through the strait to pass from the 615-mile Persian Gulf to reach buyers in Europe, Asia and elsewhere. Giant oil tankers with oil and natural gas from Iran, Iraq, Saudi Arabia, the United Arab Oman and Abu Dhabi, Qatar and Bahrain flow though the strait Iran is the northern side of the strait, Oman on the southern. For years, whenever there's a conflict involving Iran, there are fears the country might block the strait. The importance of Kharg and the Strait of Hormuz helps explain why crude oil prices shot up as much as 14% late Thursday on the very first reports of Israel's attack on Iranian military and nuclear West Texas Intermediate, the benchmark U.S. crude closed Friday up 7% to $71.29, and Brent, the benchmark global crude, was up the same amount to $74.23. If the worst of the conflict scenarios come to pass — Kharg's terminals and the strait are shut down, all bets are off on oil prices and, by extension, natural gas and gasoline prices. Kharg's terminal were blown up during the Iraq-Iran War of 1980-1988. And the shooting between Israel and Iran (via drones and missiles) continued off and on Saturday and into Sunday. In the event of a Kharg shutdown and strait closed, Reuters reported, some analysts were suggesting crude prices could top $120 a barrel or higher, which would send gasoline prices much higher, maybe up to the top U.S. average price of $5.22 a gallon in May 2022. Global economies would be disrupted, and inflation would almost certainly jump. AAA's daily U.S. average gasoline price was up a penny to $3.133 a gallon on Saturday. The price is up just 3.1% so far in 2025. U.S. oil and gas stocks jumped on the Israeli-Iran news Friday. The Energy Sector of the Standard & Poor's 500 Index was alone among the 11 sectors of the index to post a gain for the Energy Select Sector SPDR exchange-traded fund () , which matches the index's Energy Sector, was up 1.7%. Oil services giant Halliburton () was up 5.5%. APA Corp. () , parent of oil-and-gas producer Apache, was up 5.3%. The S&P 500 was down 1.13%. The Dow Jones Industrial Average, down as many as 887 points in the afternoon, finished with a 700-point loss, or 1.8%, to 42,198. The major stock indexes — Dow, S&P 500, Nasdaq Composite, Nasdaq-100 and Russell 2000 — all finished lower on the week. More Economic Analysis: Hedge-fund manager sees U.S. becoming Greece A critical industry is slamming the economy Reports may show whether the economy is toughing out the tariffs That said, many analysts do not believe things will get that out of hand. Similar worries about Kharg and the Strait of Hormuz have generated similar worries and price projections. But, in a note on Friday, Amarpreet Singh, an analyst with Barclay's, said "cool heads have prevailed." Moreover, as Ian Bremmer, president of the Eurasia Group, a consulting firm that watches matters like these, thinks Iran has few cards to play in this conflict. Israeli intelligence capabilities are just too capable, he said on a podcast, and Iran's military capacity has been diminished substantially by the attacks this week. Still, attention must be paid. Most should keep an eye on this Persian Gulf island first appeared on TheStreet on Jun 14, 2025 This story was originally reported by TheStreet on Jun 14, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Will $5,000 Invested in Amazon Stock Make You $100,000 in a Decade?
Will $5,000 Invested in Amazon Stock Make You $100,000 in a Decade?

Yahoo

time3 hours ago

  • Yahoo

Will $5,000 Invested in Amazon Stock Make You $100,000 in a Decade?

A recent survey conducted by Charles Schwab found that Amazon was the third most-purchased stock among retail investors in May. Amazon's strong position in online retail, digital advertising, and cloud computing services could drive double-digit revenue growth through 2030. Amazon has developed about 1,000 generative artificial intelligence applications to improve the efficiency of its retail operations, which should lead to higher profit margins. 10 stocks we like better than Amazon › Amazon (NASDAQ: AMZN) stock has fallen 3% year to date while the S&P 500 (SNPINDEX: ^GSPC) has advanced 3%. But Wall Street anticipates a stronger performance from the retail giant over the next year. The median target price among 71 analysts is $240 per share, which implies 13% upside from its current share price of $212. Tariffs are a big reason the stock has struggled in 2025, but sentiment appears to be on the upswing since the Trump administration de-escalated trade tensions with China. A recent survey from Charles Schwab shows Amazon was the third most-popular stock among retail investors in May. Can Amazon turn $5,000 invested today into $100,000 over the next decade? Here are my thoughts. Amazon has a strong position in three growing industries. The company operates the most popular online marketplace worldwide as measured by traffic, and it is the largest online retailer as measured by revenue. Amazon is also the third-largest ad tech company, and Amazon Web Services (AWS) is the largest public cloud. The investment thesis is simple: Amazon's strong position in those industries should drive double-digit sales growth annually through the end of the decade. I say that because those industries are expanding at a double-digit pace. The estimates below come from Grand View Research: Retail e-commerce sales are projected to grow at 11.6% annually through 2030. Ad tech spending is forecast to increase at 14.4% annually through 2030. Cloud computing sales are projected to grow at 20.4% annually through 2030. Additionally, Amazon should become more profitable over time as two tailwinds drive its margins higher. First, the company is building 1,000+ generative artificial intelligence (AI) applications to automate and optimize tasks like coding, customer service, inventory management, and logistics. It's also infusing warehouse robots with generative AI so human workers can instruct them in natural language. Second, digital advertising and cloud computing services earn higher margins than retail. Amazon in the first quarter reported double-digit sales growth in its advertising and cloud segments versus single-digit sales growth in its retail segments. That means the high-margin revenue streams are increasing more quickly, which will lift its total profit margin over time. As a caveat, Amazon could struggle with tariffs in the near term. About one-third of sellers on the marketplace are based in China, and those brands account for a material percentage of advertising revenue. However, to quote portfolio managers at Baron Capital, "The company has repeatedly proven its ability to navigate complex environments and emerge stronger." Wall Street estimates Amazon's earnings will increase at 10% annually through 2026. That makes the current valuation of 35 times earnings look expensive, but I suspect analysts are underestimating the company. Amazon topped the consensus estimate by an average of 21% in the last six quarters. I think that trend will continue due to its strong position in three growing industries. Amazon stock must increase 20-fold (1,900%) to turn $5,000 into $100,000 during the next decade. Returns of that magnitude are possible, but they happen infrequently. In fact, only five stocks in the S&P 500 increased at least 20-fold during the last decade as of June 12, 2025. They are listed below: Nvidia: +27,250% Advanced Micro Devices: +5,030% Axon Enterprise: +2,180% Texas Pacific Land: +2,050% Fair Isaac: +1,910% However, I doubt Amazon can generate a 20-fold return in the next decade simply because the company is already worth $2.3 trillion. And multiplying that number by 20 would take its market value to $46 trillion, which is approximately what the entire S&P 500 is worth today. That seems an unlikely outcome. Nevertheless, I think Amazon is a worthwhile long-term investment at its current price. The company has a strong position in three growing industries and a track record for beating Wall Street's earnings estimates. That combination led to Amazon stock outperforming the S&P 500 by 40 percentage points over the last three years, and I expect continued outperformance in the next three years. Before you buy stock in Amazon, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Amazon wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $655,255!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $888,780!* Now, it's worth noting Stock Advisor's total average return is 999% — a market-crushing outperformance compared to 174% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 9, 2025 Charles Schwab is an advertising partner of Motley Fool Money. John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Trevor Jennewine has positions in Amazon, Axon Enterprise, and Nvidia. The Motley Fool has positions in and recommends Advanced Micro Devices, Amazon, Axon Enterprise, and Nvidia. The Motley Fool recommends Charles Schwab and Fair Isaac and recommends the following options: short June 2025 $85 calls on Charles Schwab. The Motley Fool has a disclosure policy. Will $5,000 Invested in Amazon Stock Make You $100,000 in a Decade? was originally published by The Motley Fool

Citi Sees Micron (MU) Climbing to $130 Supported by Better DRAM Pricing
Citi Sees Micron (MU) Climbing to $130 Supported by Better DRAM Pricing

Yahoo

time3 hours ago

  • Yahoo

Citi Sees Micron (MU) Climbing to $130 Supported by Better DRAM Pricing

Micron Technology Inc. (NASDAQ:MU) is one of the right now. On June 9, Citi analyst Christopher Danely reaffirmed his Buy rating on Micron and raised the stock's price target to $130 from the previous $110. Danely's outlook is driven by expectations of stronger DRAM pricing, which he believes will surpass initial projections. He now anticipates a quarterly price increase of at least 5%, well above the earlier forecast of 2%. This upward trend in pricing is expected to support Micron's revenue and earnings growth over the coming quarters. An automated manufacturing production line of semiconductor components on an assembly line. In response to these improving market conditions, Danely has revised his financial estimates for the company and now projects stronger sales and higher EPS for fiscal years 2025 and 2026. These higher estimates have resulted in an increase in price target. Although tariff-related developments have subsided, geopolitical tensions remain high. On June 9, Reuters reported that Chinese memory chipmaker Yangtze Memory Technologies (YMTC) filed a lawsuit in Washington, accusing Micron Technology Inc. (NASDAQ:MU) of orchestrating a disinformation campaign. The lawsuit claims Micron falsely portrayed YMTC's chips as containing spyware and posing a national security threat. Micron Technology Inc. (NASDAQ:MU) designs, develops, manufactures, and markets memory and storage products, including dynamic random-access memory (DRAM), flash memory (NAND), solid-state drives (SSDs), and High Bandwidth Memory (HBM) globally. While we acknowledge the potential of MU as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store