Business Journal-Portland articles from September 1991

Business Journal-Portland archives from September 1991

Sprouse needs cash source by December. (Sprouse-Reitz Stores Inc.) (company profile)
September 23, 1991... Sprouse needs cash source by December The clock is ticking at Sprouse-Reitz Stores Inc. The company disclosed in its Sept. 17 quarterly report that unless it can replace a $14 million line of credit it will lose in December, the company...

Hanna suitors wait at the altar while judge weighs proposals. (PacifiCorp Financial Inc. and John Mitchell vie for trusteeship of Daniel Hanna car wash empire; Bankruptcy Court Judge Donal Sullivan)
September 23, 1991... Hanna suitors wait at the altar while judge weighs proposals PacifiCorp Financial Inc. is vying with court-appointed trustee John Mitchell for control of what's left of the Daniel Hanna car wash empire. With the celebrated bankruptcy...

Treasury scrambles to find home for $80 million in savings. (Oregon Treasury seeks new banker)
September 23, 1991... Treasury scrambles to find home for $80 million in savings The Oregon Treasury is scrambling to find a home for $80 million in state workers' savings because Bank of America and Far West Federal Bank soon will no longer accept the deposits....

Qual-Med toddles toward profitability. (Qual-Med Oregon Health Plan)
September 23, 1991... Qual-Med toddles toward profitability After nearly two years of drawing cash from its corporate parent, the infant Qual-Med Oregon Health Plan has taken its first steps toward profitability in 1991. Qual-Med, which came to Oregon in...

Kaboom! Dark Horse vanquishes foes. (Dark Horse Comics strong competition for Marvel Comics and DC Comics Inc.) (Company Profile)
September 23, 1991... Dark Horse vanquishes foes Ever hear about the time Boris the Bear slaughtered all the Ninja Turtle-clones and turned them into turtle soup? Or when creatures from Aliens met up with the Predator? You haven't? Gadzooks! For the...

Rising tide of profits lifts all health insurance ships.
September 23, 1991... Rising tide of profits lifts all health insurance ships While most Oregon health insurers grew during the first six months of 1991, the two largest carriers reported membership drops compared to the same period a year ago. But all of...

Jantzen slimming down to fit into new corporate suit. (company profile)
September 23, 1991... Jantzen slimming down to fit into new corporate suit As the newly appointed president of Jantzen Inc., Robert Lindley will preside as the corporate equivalent of a tailor, not a fashion designer. That's the prevailing attitude among...

Mervyn's wins big in Frederick & Nelson bankruptcy. (Mervyn's to acquire three Frederick & Nelson department stores)
September 23, 1991... Mervyn's wins big in Frederick & Nelson bankruptcy Mervyn's appears to come out a winner in the wake of a Sept. 17 bankruptcy filing by Frederick & Nelson department stores of Seattle. Mervyn's, a California retailer that has grown...

Pacific First lauded for community work. (Pacific First Bank FSB)
September 23, 1991... Pacific First lauded for community work Pacific First Bank FSB has received an "outstanding" rating from the Office of Thrift Supervision for its community re-investment efforts, the highest ranking possible. In the first half of 1991,...

Nike profits rebound, reminding industry who's No. 1.
September 23, 1991... Nike profits rebound, reminding industry who's No. 1 Soaring like a Michael Jordan in-your-face slam dunk, Nike reminded competitors who's No. 1 with an explosive first quarter of record sales and profits. For the quarter ended Aug....

Family calls and Kim Pelett closes City Antiques.
September 23, 1991... Family calls and Kim Pelett closes City Antiques City Antiques, a $4.5 million-a-year retailer of antique and reproduction furniture, is closing its doors after 13 years. Both the Beaverton store and the east-side location near Produce...

Litho Development snaps up West Coast competitors. (Litho Development & Research acquires Forrest Chemical & Supply co. and Smart Supply Co.)
September 23, 1991... Litho Development snaps up West Coast competitors SAN FRANCISCO - Litho Development & Research of Portland has acquired Forrest Chemical & Supply Co. of San Francisco and Smart Supply Co. of Hayward, Calif., in an expansion that makes Litho...

Portland rolls out red carpet for religion. (Focus: Hospitality)
September 23, 1991... Portland rolls out red carpet for religion WHILE OTHERS cool their heels on placid beaches or escape to the mountains, religious conventioneers often choose the langorous summer days to conduct church business. And as the thousands gather...

Tourists flock to where the wild things are. (Metro Washington Park Zoo)(Focus: Hospitality)
September 23, 1991... Tourists flock to where the wild things are What's the top tourist attraction in the Portland area? If you guessed Nordstrom, think again. It's the Metro Washington Park Zoo, with 965,000 visitors a year. Packy and friends are followed...

Tom Swearingen. (Marketing)
September 23, 1991... Tom Swearingen Tom Swearingen was named president of Swearingen Inc., formerly Swearingen Amato Rathbun. He replaces his father, Dick Swearingen, who continues to serve agency clients as an account representative. Roger Bachman joined the...

West One Bancorp. (Proxy Report Excerpts) (company profile)
September 23, 1991... West One Bancorp West One Plaza, Boise, Idaho 83733 West One Bancorp, formerly Moore Financial Group Inc., is the holding company that owns West One Bank Oregon (formerly Oregon First Bank) and West One Bank Idaho (Idaho's largest bank)....

Gary Georgeff. (Business Notes)
September 23, 1991... Gary Georgeff Gary Georgeff and Bob McGaughey have formed the law firm of McGaughey & Georgeff. The firm is located at 401 River Forum II Building, 4386 S.W. Macadam Ave. in Portland.

ACA Manufacturing. (Business Notes)
September 23, 1991... ACA Manufacturing ACA Manufacturing, a specialized division of Acacia, Beaverton was formed recently. The division will manufacture cable and wire harness assemblies.

Leading Technology Inc. (Business Notes)
September 23, 1991... Leading Technology Inc. Leading Technology Inc., a Beaverton-based computer manufacturer, selected U.S. West and Christenson Electric Inc. to install a new voice communications system.

Siltec Silicon. (Business Notes)
September 23, 1991... Siltec Silicon Siltec Silicon, a Salem-based manufacturer of silicon semiconductor wafers, selected Esse Systems, a Portland software engineering company, to design and implement a system for scheduling reactors used to manufacture...

Cougar Aviation. (Business Notes)
September 23, 1991... Cougar Aviation Cougar Aviation was selected as fixed base operator for Portland-Mulino Airport, which is managed by the Port of Portland. The company succeeds Mulino Air Center as fixed base operator at Mulino.

Rep. Calouri files $1 million lawsuit over IBM dismissal. (Ted Calouri; International Business Machines Inc.)
September 16, 1991... Rep. Calouri files $1 million lawsuit over IBM dismissal Legislator Ted Calouri (R-Beaverton) had filed a lawsuit for wrongful termination against his former employer International Business Machines Inc. and is seeking $1 million in...

U.S. bank tidies business loan portfolio. (U.S. Bancorp)
September 16, 1991... U.S. Bank tidies business loan portfolio U.S. Bancorp has significantly tightened its credit quality standards and will move aggressively in the next three months to reduce its non-performing loans by more than $80 million. The...

Mentor loses out as competitors cash in. (Mentor Graphics Corp.; Valid Logic Systems Inc.; Cadence Design Systems Inc.)
September 16, 1991... Mentor loses out as competitors cash in Beleaguered Mentor Graphics Corp. is losing out on a growing number of key sales as it pours its energy into development of its next generation of software tools. International Business Machines...

Jail on $12 a day. (Electronic Supervision Services's gadget allows new program for house arrest)
September 16, 1991... Jail on $12 a day Stone walls do not a prison make, nor iron bars a cage. All you really need are radio transmitters, a fancy computer system and a telephone. Soon you'll be locking up people at a fraction of the cost of sending them to...

Generous incentives boost employment of the injured. (Oregon's labor policy)
September 16, 1991... Generous incentives boost employment of the injured Revisions to a state program aimed at putting injured workers back on the job are finally making the 4-year-old program popular. The Preferred Worker Program, part of the state...

Former Security Pacific exec exploring new niche bank. (Joe Johnson, former president of Security Pacific Bank Oregon)
September 16, 1991... Former Security Pacific exec exploring new niche bank A former Security Pacific Bank Oregon executive is searching for investors to start a commercial bank in Portland. Joe Johnson, formerly president at Security Pacific, said he is...

Oregon to test-market new wrinkle in direct marketing.
September 16, 1991... Oregon to test-market new wrinkle in direct marketing Catalog-shopping Oregonians will begin testing a new marketing concept next month aimed at easing increasing postal costs on mail-order companies while pacifying consumer resentment over...

Bakers' union brings needed dough to Kruse Way office. (Bakery & Confectionary Workers Union)
September 16, 1991... Bakers' union brings needed dough to Kruse Way office Funded by dough from a bakers' union pension fund, a Bay area developer hopes to build the metropolitan area's next office building on Lake Oswego's Kruse Way. John James, who...

Corporate attorney learned legal craft as environmentalist. (Pat Parenteau)
September 16, 1991... Corporate attorney learned legal craft as environmentalist Attorney Dick Bach first met Pat Parenteau during a deposition in a case in which the National Wildlife Federation had challenged a wood products company Bach represented. "I...

DEQ assesses fines against two Albany manufacturers. (Oregon Department of Environmental Quality; Oregon Metallurgical Corp.; Willamette Industries)
September 16, 1991... DEQ assesses fines against two Albany manufacturers The Oregon Department of Environmental Quality has fined two large Albany manufacturers for pollution violations over the last year. Oregon Metallurgical Corp., maker of specialty...

OrCAD managers wrap up $6.6 million deal for firm. (top management buys compny from Intelligent Systems L.P.)
September 16, 1991... OrCAD managers wrap up $6.6 million deal for firm Management at OrCAD L.P., the Hillsboro-based design software maker, has completed its buy-out of the company. Top OrCAD executives, backed by three Bay area venture capital firms, paid...

Riedel places several properties on block: Portland industrialist asking $14 million for key parcels in Macadam area, elsewhere. (Art Riedel of Riedel International Inc.)
September 9, 1991... Riedel places several properties on block Portland industrialist asking $14 million for key parcels in Macadam area, elsewhere Portland industrialist Art Riedel and a partner intend to raise $14.4 million auctioning 10 local...

RB Furniture closes stores in Northwest.
September 9, 1991... RB Furniture closes stores in Northwest RB Furniture plans to close its three Portland-area stores by year's end as part of a major cutback by the Irvine, Calif., company. Inventory at RB stores in Beaverton, Gresham and Clackamas will...

Polishing up the past: Margulis shines in estate jewelry niche. (Margulis Jewelers) (Company Profile)
September 9, 1991... Polishing up the past Margulis shines in estate jewelry niche You won't find torn lampshades, wobbly sun chairs or broken waffle irons here. No, at first glance, browsing the glass cases at Margulis Jewelers doesn't really seem like...

Workers' lifestyles form new front in health cost battle. (Brim Inc. installs ValuScreen health program tied up with employee insurance)
September 9, 1991... Workers' lifestyles form new front in health cost battle Steve Sammer was an on-again, off-again smoker for several years. He'd quit before, but had returned to the habit before he started working as a drug packager for Brim Inc. ...

Welding woes dull Oregon Steel's sheen. (Oregon Steel Mills Inc. announces lower-than-expected earnings for 1991)
September 9, 1991... Welding woes dull Oregon Steel's sheen Once considered indomitable, Oregon Steel Inc. acknowledged its vulnerability with the Aug. 29 announcement that third-quarter and year-end earnings will be lower than expected. "They walked on...

Miller brings Albertson's retailing savvy to Fred Meyer. (Robert Miller is Fred Meyer Inc.'s new chief executive officer)
September 9, 1991... Miller brings Albertson's retailing savvy to Fred Meyer Don't expect photos of a smiling Joe Albertson to replace those of folksy Fred Meyer at Fred Meyer Inc.'s Southeast Portland headquarters. But former Albertson's Inc. executive...

First Interstate move may shift some jobs to Oregon. (First Interstate Bank of Oregon selected as regional hub to oversee operations in Washington, Idaho, Alaska and Montana)
September 9, 1991... First Interstate move may shift some jobs to Oregon Already the beneficiary of one major corporate consolidation, First Interstate Bank of Oregon may once again pick up additional jobs and power as a result of a just-announced...

Hasson buys out partners in residential brokerage. (Michael Hasson of Handel, Hasson and Jones Inc.)
September 9, 1991... Hasson buys out partners in residential brokerage Michael Hasson has brought out his two partners in the Handel, Hasson & Jones Inc. residential real estate firm. For an undisclosed price, Hasson purchased the partnership interests of...

PacifiCare, Health Plan set to merge for expansion. (PacifiCare Health Systems merges PacifiCare of Oregon with Health Plan of America)
September 9, 1991... PacifiCare, Health Plan set to merge for expansion PacifiCare Health Systems, the parent company of PacifiCare of Oregon, has merged its health maintenance organization with the California-based Health Plan of America. PacifiCare...

Anticipated savings driving workers' comp rates down. (Oregon Department of Insurance and Finance decreases pure premium compensation rates)
September 9, 1991... Anticipated savings driving workers' comp rates down Oregon employers will pay about $66 million less for workers' compensation insurance in 1992, said state officials, announcing a rate cut averaging 11 percent for 1992. The decrease...

Emery cuts losses but faces new rivals. (Consolidated Freightways Inc.'s air freight division Emery Worldwide sees competition from Unistar Air Cargo)
September 9, 1991... Emery cuts losses but faces new rivals Emery Worldwide, the troubled airfreight division of Consolidated Freightways Inc., is staunching much of its financial hemorrhaging and remains unfazed by new competition from United Parcel Service...

Lawyer couple aims to penetrate Europe with lobbying savvy. (includes brief biographical data on James and Lynda Gardner)
September 9, 1991... James and Lynda Gardner Lawyer couple aims to penetrate Europe with lobbying savvy In the globetrotting Gardner family household, there are house renovations to be made, an au pair to keep in touch with and many other domestic tasks...

ESI reshuffling responsibilities to counter sales decline. (Electro Scientific Industries Inc. reorganizes again)(High-Tech Report)
September 9, 1991... ESI reshuffling responsibilities to counter sales decline Electro Scientific Industries Inc. has launched yet another reorganization in an attempt to reverse two successive years of shrinking sales. ESI Chief Executive Officer Michael...

TriQuint fills top slot. (TriQuint Semiconductor Inc. hires Steven Sharp as chief executive officer)(High-Tech Report)
September 9, 1991... TriQuint fills top slot TriQuint Semiconductor Inc. has finally hired a new top executive. The Beaverton semiconductor maker, which merged with two competitors earlier this year, announced Sept. 3 that it had hired former venture...

Miltron joins forces with OrCAD. (Miltron Corp. in joint venture with OrCAD Limited Partnership)(High-Tech Report)
September 9, 1991... Mitron joins forces with OrCAD Mitron Corp. recently announced the first of what it hopes will be several partnerships with leading electronic design automation companies. The young Beaverton operation will develop its specialty...

Environmental law growing with increased regulations. (Focus: Law and Accounting)
September 9, 1991... Environmental law growing with increased regulations Lawyers do delicate balancing act as environmental concerns arise THE FULL-PAGE news magazine photos of barrels dripping toxic chemicals, waterways clogged with oil or barbed wire...

Do-it-yourself legal services flourishing despite complaints from judges, lawyers. (Focus: Law and Accounting)
September 9, 1991... Do-it-yourself legal services flourishing despite complaints from judges, lawyers DON'T BURN UP MONEY in a divorce!" admonishes the pitchman in a commercial that's as familiar as Tom Peterson's flat-top to local TV viewers. For a mere $60...

Lane Powell lawyers catch wave of video popularity. (Lane Powell Spears Lubersky pioneers law-firm videos ) (company profile)
September 9, 1991... Lane Powell lawyers catch wave of video popularity Madonna and Prince they're not, but law-firm videos are still hot THE TAPE BEGINS to roll. Music chimes in and a video graphic displays the local law firm's name and a legal topic....

Perkins firm focuses on family business with mentoring program. (Perkins and Co. accounting firm develops consulting program for family business turnovers)
September 9, 1991... Perkins firm focuses on family business with mentoring program WHAT HAPPENS when a family business owner gets ready to pass on the business to the next generation? The answers can be as different as families are different. Perhaps the...

Boise Cascade Corp. (Earnings and Dividends)
September 9, 1991... Boise Cascade Corp. of Boise, Idaho, announced an unprofitable second quarter, with a loss of $32.5 million for the period on sales of $978 million. For the first six months of the year, the company is now posting a net loss of $49.4 million...

KeyCorp. (Earnings and Dividends)
September 9, 1991... KeyCorp of Albany, N.Y., reported net income of $44 million for second quarter, an increase of 18.2 percent over the same period last year. Earnings per share were 92 cents for the quarter, compared to 87 cents per share last year.

Commercial Bancorp. (Earnings and Dividends)
September 9, 1991... Commercial Bancorp of Salem reported second-quarter earnings of $471,000, up 4 percent from the same period the prior year. Earnings per share for both periods were 42 cents.

Fiberboard Corp. (Earnings and Dividends)
September 9, 1991... Fiberboard Corp. of Concord, Calif., announced second-quarter earnings of $1.2 million, or 30 cents per share, on sales of $57.3 million. This compares with a loss of $1.8 million, or 46 cents per share, on sales of $61.2 million for the same...

Georgia-Pacific Corp. (Earnings and Dividends)
September 9, 1991... Georgia-Pacific Corp. of Atlanta reported net income of $33 million, or 38 cents per share, on second-quarter revenues of $3 billion. For the same period last year, net income was at $107 million on quarterly sales of $3.5 billion.

Nendels Corp. (Earnings and Dividends)
September 9, 1991... Nendels Corp. of Seattle announced a net loss of $78,585 for third quarter on revenues of $388,211. During the same period last year, the company posted a net loss of $47,779 on revenues of $253,637.

Northwest Natural Gas Co. (Earnings and Dividends)
September 9, 1991... Northwest Natural Gas Co. of Portland reported second-quarter earnings of $4.9 million on $64.4 million in revenues. For the same period last year, net income was $1.7 million on $51.9 million in revenues.

Oregon Steel Mills Inc. (Earnings and Dividends)
September 9, 1991... Oregon Steel Mills Inc. of Portland reported second-quarter net income of $12.9 million, or 68 cents per share, on record sales of $136.9 million. For the same period last year, net income was $8 million, or 50 cents per share, on $78.3...

Pope & Talbot Inc. (Earnings and Dividends )
September 9, 1991... Pope & Talbot Inc. of Portland reported second-quarter earnings of $1.8 million, or 15 cents per share, on $130.7 million in sales.

Insurers shun real estate refinance market. (insurance companies' investments in real estate mortgages)
September 2, 1991... Insurers shun real estate refinance market The chickens are coming home to roost from Portland's late-'80s frenzy of commercial real estate construction. Banks that once offered easy cash for a wave of apartments, offices and other...

Feds retract harsh loan policies. (Office of the Comptroller of the Currency)
September 2, 1991... Feds retract harsh loan policies Is the Darth Vader of bank regulators now a kinder and gentler agency? The Office of the Comptroller of the Currency, which shocked the country's nationally chartered banks in 1991 with its hard-nosed...

Tektronix shake-up rattles some change loose for executives. (turnaround brings hike in pay for its executives)
September 2, 1991... Tektronix shake-up rattles some change loose for executives The executives behind the dramatic turnaround at Tektronix Inc. are being handsomely rewarded for their efforts. The company's recently released proxy statement shows Jerry...

Discounts, sales leads key to MCI's latest long-distance calling plan. (MCI's Friends & Family program entitles customers who give sales leads to a discount on long-distance calls)(Focus: Office Technology & Telecommunications)
September 2, 1991... Discounts, sales leads key to MCI's latest long-distance calling plan Hiring and effective sales force is a tough job for any company, including for the highly competitive long-distance telephone carriers. But MCI has managed to...

Willamette offer for Bohemia is a deal, maybe a steal. (Willamette Industries Inc.'s acquisition of Bohemia Inc. may be a better deal for Willamette than for Bohemia shareholders)
September 2, 1991... Willamette offer for Bohemia is a deal, maybe a steal Willamette Industries Inc. is acquiring industry rival Bohemia Inc. in a $122.4 million tender offer that some say is a better deal for Willamette than for Bohemia shareholders. ...

Albertson's VP finds it at Fred's. (Robert G. Miller, formerly of Albertson's Inc., was named chief executive officer of Fred Meyer Inc.)
September 2, 1991... Albertson's VP finds it at Fred's Fred Meyer Inc. has chosen the head of retail operations at a finely tuned competitor to take the reins of the Portland-based king of one-stop shopping. Robert G. Miller, former executive vice...

Lawyer glut holding down salaries for young attorneys. (no increase in starting salaries at law firms due to oversupply of lawyers)
September 2, 1991... Lawyer glut holding down salaries for young attorneys Iain Levie had a master's degree in international law in his pocket when he graduated from University of Washington's law school. He also had a job lined up with the Los Angeles office...

Free of huge debt payment, WTD posts modest profits. (WTD Industries Inc.)
September 2, 1991... Free of huge debt payment, WTD posts modest profits While nestled in Chapter 11 protection, WTD Industries Inc. has shown two straight profitable quarters, but analysts said the Tigard lumber company still must prove itself outside of...

Mentor cuts staff, hands niche markets over to partners. (Mentor Graphics Corp. to leave niche businesses to software partners including Cadre Technologies Inc.)
September 2, 1991... Mentor cuts staff, hands niche markets over to partners Mentor Graphics Corp.'s layoff last week of 500 employees will reduce its break-even point to $475 million in annual revenue - a 9.5 percent drop. That should make the company's...

Pendleton Woolen Mills to expand in Washougal. (start of construction of dye house in Washougal, Oregon)
September 2, 1991... Pendleton Woolen Mills to expand in Washougal Pendleton Woolen Mills will begin construction on a 77,000-square-foot dye house in Washougal this fall which will consolidate the company's operations in the Washington town. When...

Check-cashing services hold on as big banks consolidate. (check-cashing companies attract more clients as banks cut back on services in the wake of mergers)
September 2, 1991... Check-cashing services hold on as big banks consolidate The deserted Check-Mart lobby on Northeast Broadway looks innocuous enough. A turn-handle candy dispenser sits near a soda machine. But then you notice manager Bob Anderson counting...

Patrick Feyen. (Insurance)
September 2, 1991... Patrick Feyen Patrick Feyen was named chief financial officer of PacifiCare of Oregon, a health maintenance organization. Feyen previously served as vice president of finance and controller for Michigan Health Care Corp.

Bug-proof rooms help deter security pests. (Northwest Countermeasures offer debugging services to protect trade secrets)(Focus: Office Technology & Telecommunications) (company profile)
September 2, 1991... Bug-proof rooms help deter security pests WHEN MIKE HANSEN says he's found bugs in your home or business, he's not talking about roaches or spiders. The bugs Hansen ferrets out are the wireless variety. Those pesky critters that hide in...