WHAT PELTZ IS NEW IN PITTSBURGH? A NEW PENS LEAD INVESTOR?

          NY-based fast-food holding company Triarc Cos. Chair
     Nelson Peltz joined FL investment banker Chip Gesner last
     Friday in Pittsburgh to meet with city and Penguins
     officials, according to Ann Belser of the PITTSBURGH POST-
     GAZETTE.  Peltz joined Gesner in Pittsburgh to "discuss the
     [Penguins'] finances, the prospects for selling tickets next
     year and the possibility of building a new arena."  Gesner
     is putting together a reorganization plan for the team and
     is still searching for a lead investor (POST-GAZETTE, 4/16). 
          TREASURE CHEST: Pirates Exec VP Dick Freeman said that
     the team's $45M loan from Fleet Financial Group is a "sign
     of health, not economic distress."  The Pirates said that
     they will put "most" of the $45M loan from Fleet toward
     their $40M share of the cost of PNC Park (See THE DAILY,
     4/9).  National City Bank and Provident Bank were also
     involved in the deal.  Fleet's earlier $45M loan to the team
     was part of a $425M "credit facility" made available to MLB
     (Jon Schmitz, PITTSBURGH POST-GAZETTE, 4/16).