Washington Business Journal articles from December 1990

Washington Business Journal archives from December 1990

Local economy creates some odd bedfellows; tougher times forge industry, anti-growth pols together. (Washington, D.C. metro area)
December 31, 1990... Local economy creates some odd bedfellows Tougher times forge industry, anti-growth pols together Stephen Cumbie thought he witnessed somewhat of a thaw in the regional business-government Cold War at a recent George Washington...

Take that Domino's. (Edgewater Foods International is marketing pizza vending machines)
December 31, 1990... Take that Domino's For fast-track pizza lovers, D.C.-based Edgewater Foods International is marketing high-tech machines that vend-a-pizza in less than a minute for about $2.50 a pie. Targeting employee-heavy companies like Marriott...

Local real estate industry weathers a stormy year; despite much of the bad news, D.C. leasing rates hit high. (Washington, D.C. area)
December 31, 1990... Local real estate industry weathers a stormy year Despite much of the bad news, D.C. leasing rates hit high 1990 will be remembered as the year some of Washington's leading real estate lights dimmed. Even Washington's mightiest...

Banks hit hard by downturn; the year ahead will be one of buttoning operations down. (Washington, D.C. area)
December 31, 1990... Banks hit hard by downturn The year ahead will be one of buttoning operations down When the people at Citizens & Southern in Atlanta merged with Norfolk's Sovran Financial Corp. this summer, they knew they could be taking some hits...

Walt Scheiber: after dips come booms. (outgoing executive director of Metropolitan Washington Council of Governments)
December 31, 1990... Walt Scheiber: after dips come booms Outgoing COG chief looks back three decades, then looks ahead We can't look at the boom periods as blessings, cautions Walt Scheiber, executive director of the Metropolitan Washington Council of...

Garfinckel's fall changes face of retailing. (The Year 1990 in Review)
December 31, 1990... Garfinckel's fall changes face of retailing The past year proved to be one of toughest for retailers Although it didn't come as much of a surprise, the end of Garfinckel's dramatically altered the area's retail landscape, and so did...

Long & Foster adds sites. (Long and Foster Real Estate expands Northern Virginia operation)
December 31, 1990... Long & Foster adds sites Long & Foster Real Estate has expanded its Northern Virginia operation with the addition of two new offices, bringing its total number in the state to 34. Long & Foster merged with ERA Homestead Properties Inc....

Satellite industry gets big boost in past year; firms begin to mature both technically and financially. (The Year 1990 in Review)
December 31, 1990... Satellite industry gets big boost in past year Firms begin to mature both technically and financially Media attention stopped focusing on Orbital Sciences Corp. after its first commercial rocket shot out from the wing of a B-52...

Rosenthal Greene and EPB frame a dark year; 1991 holds more of the same but for a shorter duration. (Earle Palmer Brown; Rosenthal, Greene and Campbell ad agencies) (The Year 1990 in Review)
December 31, 1990... Rosenthal Greene and EPB frame a dark year 1991 holds more of the same but for a shorter duration When Rosenthal, Greene & Campbell announced its demise last January, it seemed to herald a dark year for the advertising industry....

As sales slide, builders revert to putting up affordable homes; marketing efforts are targeted to buyers with no home to sell. (The Year 1990 in Review)
December 31, 1990... As sales slide, builders revert to putting up affordable homes Marketing efforts are targeted to buyers with no home to sell With 30 percent fewer new single-family, townhome and condominium net sales in the Washington area in...

MNC to make public offer of credit card sub shares. (MNC Financial; MBNA Corp.)
December 31, 1990... MNC to make public offer of credit card sub shares MNC Financial will offer its huge credit card subsidiary in a public offering of 45 million shares of MBNA Corp., a company MNC formed to take on the credit card business currently being...

Hospitals, hit by bad debt, scale back; hardly a hospital in the city not affected by current climate. (Washington, D.C.; includes related article on finances of suburban hospitals) (The Year 1990 in Review)
December 31, 1990... Hospitals, hit by bad debt, scale back Hardly a hospital in the city not affected by current climate A year ago, Medlantic Healthcare vice president John L. Green warned that "some real, real hard decisions" would have to be made in...

Biotech community has scientific breakthroughs, financial setbacks; venture capital tight for most but the big guys get bigger. (The Year 1990 in Review)
December 31, 1990... Biotech community has scientific breakthroughs, financial setbacks Venture capital tight for most but the big guys get bigger When federal scientists announced they had successfully used gene therapy to treat a child with no natural...

The lady gets tough. (Spa Lady Corp. retains Eisner and Associates for advertising)
December 31, 1990... The Lady Gets Tough Angling to drum up membership at its 27 locations, the Vienna-based Spa Lady Corp. -- which is reorganizing under Chapter 11 bankruptcy -- has retained Eisner & Associates, a Baltimore-based advertising agency for $1.5...

Area bankruptcy filings soar, '91 promises even greater flood; small companies hit hard as more firms take Chapter 7. (Washington, D.C. area) (The Year 1990 in Review)
December 31, 1990... Area bankruptcy filings soar, '91 promises even greater flood Smaller companies hit hard as more firms take Chapter 7 Intake clerks at Rockville's bankruptcy court are betting on whether they'll break the 5,000 mark for new petitions...

Arthur E. Foster. (People on the Move)
December 31, 1990... Arthur E. Foster was named chairman of the board of CFS Financial Corp. and its subsidiary, Continental Federal Savings Bank. Foster, founder and president of Foster Brothers Inc., a Northern Virginia builder and developer, has been a...

Bruce Sundlun. (People on the Move)
December 31, 1990... Bruce Sundlun resigned as chairman of the board of QuesTech Inc., Falls Church, due to his election as governor of Rhode Island. Vincent Salvatori, president and chief executive officer, will assume the duties of the chairman.

Thomas M. Sneeringer. (People on the Move)
December 31, 1990... Thomas M. Sneeringer, legislative director for U.S. Rep. Dan Rostenkowski (D-Ill), will join Katten Muchin & Zavis as a partner in the firm's Washington offices. He has been with Rostenkowski six years.

Allstate leaps, doing what other banks aren't: lending. (Allstate Financial Inc.)
December 31, 1990... Allstate leaps, doing what other banks aren't: lending Start-ups turn to alternates in midst of bank credit crunch For Lee Fishman, the credit crunch is "happening in real life on a day-to-day basis. And we're seeing it all over the...

OGDEN/ERC Government Systems. (Contracts)
December 24, 1990... OGDEN/ERC Government Systems OGDEN/ERC Government Systems in Fairfax won a subcontract worth potentially $1.2 million over four years to support the acquisition and implementation of a newly modeled Integrated Financial Management...

University Research Corp. (Contracts)
December 24, 1990... University Research Corp. University Research Corp. in Bethesda won a $5 million contract with the U.S. Agency for International Development to provide assistance in family planning services in Indonesia.

MCI Corp. (MCI Communications Corp.) (Contracts)
December 24, 1990... Marriott Corp. Marriott Corp., Washington, will pay a dividend of 7 cents a share on Jan. 15 to shareholders of record on Dec. 28.

Martin Marietta Corp. (Contracts)
December 24, 1990... Martin Marietta Corp. Martin Marietta Corp. in Bethesda won a $102.8 million contract option from the Raytheon Co. for continued production and assembly of Patriot air defense missile systems through 1993.

Overseas Telecommunications Inc. (Contracts)
December 24, 1990... Overseas Telecommunications Inc. Overseas Telecommunications Inc. in Alexandria won a contract to provide the Renault headquarters in France with an international digital private line circuit to the car company's manufacturing facility in...

PHP Healthcare Corp. (Contracts)
December 24, 1990... PHP Healthcare Corp. PHP Healthcare Corp. in Alexandria won a contract worth a potential $30 million to manage and operate a 220-bed VA nursing facility in Anderson, S.C.

C3 Inc. (Contracts)
December 24, 1990... C3 Inc. C3 Inc. in Herndon was selected by the Air Force to provide comprehensive on-call maintenance and repair support for all Zenith commercial electronic equipment at Yokota Air Base in Japan.

Vitro Corp. (Contracts)
December 24, 1990... Vitro Corp. Vitro Corp. in Silver Spring won a five-year, $62 million contract, including options, from the Naval Sea Systems Command for support of the Aegis Shipbuilding Program.

CRI Insured Mortgage Association Inc. (Earnings and Dividends)
December 24, 1990... CRI Insured Mortgage Association Inc. CRI Insured Mortgage Association Inc., Rockville, will pay a dividend of 27 cents a share on Dec. 31 to shareholders of record on Dec. 12.

CRI Liquidating REIT Inc. (Earnings and Dividends)
December 24, 1990... CRI Liquidating REIT Inc. CRI Liquidating REIT Inc., Rockville, will pay a dividend of 30 cents a share on Dec. 31 to shareholders of record on Dec. 18.

Cosmetic & Fragrance Concepts Inc. (Earnings and Dividends)
December 24, 1990... Cosmetic & Fragrance Concepts Inc. Cosmetics & Fragrance Concepts Inc., Savage, reported earning $1.6 million, or 52 cents a share, on revenue of $76 million for the year ended in September. This compares with earning $861,000 or 28 cents,...

Marriott Corp. (Earnings and Dividends)
December 24, 1990... MCI Corp. MCI Corp. in Washington won a five-year, $15 million contract to provide Bridge Information Systems Inc. in St. Louis with a domestic and international data network.

Capital Housing and Mortgage Partners Inc. (Earnings and Dividends)
December 24, 1990... Capital Housing and Mortgage Partners Inc. Capital Housing and Mortgage Partners Inc., Rockville, will pay a dividend of 24 cents a share on Dec. 31 to shareholders of record on Dec. 18.

Executive Development Systems Inc. (New Businesses)
December 24, 1990... Executive Development Systems Inc. Executive Development Systems Inc. has been formed to address outplacement and training needs for the job search by providing resume development, marketing strategies and complete preparation for the...

Baltimore chain edges into D.C. in Erol's wake. (Choices Entertainment Corp.) (company profile)
December 24, 1990... Baltimore chain edges into D.C. in Erol's wake Choices Entertainment Corp., a Baltimore-based video and music retailer, is poised to move into the Washington area market with a handful of new superstores as part of an overall strategy to...

In coup, Liberty Bank lands $4 million from D.C. group. (Liberty Bancorp Inc.; investment group headed by Stanton Anderson)
December 24, 1990... In coup, Liberty Bank lands $4 million from D.C. group In what will be the first successful raising of equity capital for a local financial institution in at least a year, Liberty Bancorp Inc. downtown plans to sell $4 million worth of...

Big SBIC firm told to liquidate. (Small Business Investment Company; Wood River Capital Corp.)
December 24, 1990... Big SBIC firm told to liquidate The downward spiral of the Small Business Investment Company program, which began with the failure of a Springfield, Va., firm in late 1989, continued last week when the second-largest participant in the...

NVR: homebuilder misses payments to public bond holders. (Capital Region News)
December 24, 1990... NVR Homebuilder misses payments to public bond holders McLean-based NVR L.P. missed its interest payments due Dec. 15 on its publicly traded bonds. The homebuilding company is undergoing an operational and financial restructuring. As...

Washington Post: publisher forecasts earnings decline. (Capital Region News)
December 24, 1990... Washington Post Publisher forecasts earnings decline The Washington Post Co. in D.C. told a meeting of New York securities analysts that the company is expecting earnings per share for this year to be approximately $14.25 a share compared...

Gannett Company Inc.: USA Today pitches idea for a baseball weekly. (Capital Region News)
December 24, 1990... Gannett Company Inc. USA Today pitches idea for a baseball weekly Arlington-based Gannett Co.'s USA Today has formed a task force to explore the startup of a weekly tabloid tentatively titled USA Today Baseball Weekly. "Seeing the...

Radiation Systems: new division formed for antenna control. (Capital Region News)
December 24, 1990... Radiation Systems New division formed for antenna control Radiation Systems Inc., Sterling, formed a new division to develop a line of control systems used for pointing antennae and tracking of communication satellites. The new...

Mid Atlantic Medical: Optimum Choice cleared to operate in Virginia. (Capital Region News)
December 24, 1990... Mid Atlantic Medical Optimum Choice cleared to operate in Virginia The state of Virginia cleared the way for Optimum Choice Inc., a health maintenance organization for small group employers, to conduct business in Northern Virginia. ...

Perini Corp.: preliminary work starts on Federal Triangle site. (Capital Region News)
December 24, 1990... Perini Corp. Preliminary work starts on Federal Triangle site Perini Corp., a Framingham, Mass., construction management firm, has started preliminary construction work for the International Cultural and Trade Center/Federal Office...

Giant Food: Price Waterhouse to replace Laventhol & Horwath as CPA. (Capital Region News)
December 24, 1990... Giant Food Price Waterhouse to replace Laventhol & Horwath as CPA The audit committee of the board of Giant Food Inc., Landover, recommended the appointment of Price Waterhouse as the company's certified public accountant. Voting...

Boeing Computer: employees working in FTS2000 to be phased out of project. (Boeing Computer Services Co., Federal Telecommunications System 2000) (Capital Region News)
December 24, 1990... Boeing Computer Employees working on FTS2000 to be phased out of project Reston-based Boeing Computer Services will be phased out of the Federal Telecommunications Systems 2000 contract during the next few weeks. Boeing has been a...

British developer unfazed, in D.C. for long term. (Laing Homes) (Europe 1992)
December 24, 1990... British developer unfazed, in D.C. for long term Laing Homes - the sixth-largest residential development firm in Great Britain - had been operating in the London area for 140 years before it began investing in the United States. And when it...

IKEA plans hotel chain linked to retail outlets. (IKEA Svenska AB, Sweden Inns) (Europe 1992)
December 24, 1990... IKEA plans hotel chain linked to retail outlets European retailers have had a significant but often somewhat behind-the-scenes presence in the United States for years. West Germany's Tengelmann Group is parent to the A&P Food Store...

European aerospace firms land in metro area. (Washington D.C.) (Europe 1992)
December 24, 1990... European aerospace firms land in metro area More and more European aerospace companies are using the Washington area as their North American hub, with Rolls Royce being the latest one to land here. The British firm moved 75 of its...

As Europe opens, banks stand by unable to act. (Europe 1992)
December 24, 1990... As Europe opens, banks stand by unable to act In July, the deregulation of Europe's banking laws that now block many crossborder transactions is expected to initiate a new wave of merger activity among the continent's highly protected...

Public relations agencies grow through overseas affiliations. (Europe 1992)
December 24, 1990... Public relations agencies grow through overseas affiliations As the advent of a united European economy looms, local public relations firms and their clients are working as partners to facilitate joint European expansion. Angling to...

For Netrix, European debut was by invitation. (Europe 1992)
December 24, 1990... For Netrix, European debut was by invitation Most U.S. companies go shopping for foreign affiliates when trying to set up shop in Europe, but Netrix Corp. was pulled into the Continent by telecommunications companies hungry for its...

Orion Network Systems. (Denis J. Curtin appointed president of Orion Satellite Corp.) (People on the Move)
December 24, 1990... Orion Network Systems Orion Network Systems promoted Denis J. Curtin president of its subsidiary Orion Satellite Corp. Curtin joined Orion Satellite in 1988 as vice president of engineering. Prior to joining Orion, Curtin was with COMSAT...

Despite times, community banks shine. (Washington, D.C.)
December 17, 1990... Despite times, community banks shine Stocks, when they trade, show steady growth for investors Despite a significantly depressed market for regional banking company stocks, small community banks in the Washington area, with few...

Jailstyles for the rich and famous; firm suggests penalties for clients they say jail would make worse. (National Center on Institutions and Alternatives)
December 17, 1990... Jailstyles for the rich and famous Firm suggests penalties for clients they say jail would make worse It it were not for a blemish or two, Jerry Miller and Herb Hoelter's client list would be the envy of corporate America. Their...

JBG in negotiations to acquire 19 buildings from Equitable.
December 17, 1990... JBG in negotiations to acquire 19 buildings from Equitable Atlanta firm reorganizing its local land portfolio The JBG Cos. is in final stages of negotiations to buy a portfolio of 19 buildings in suburban Maryland from Equitable Real...

Vortech scores with medical imaging device. (company profile)
December 17, 1990... Vortech scores with medical imaging device Reston firm's system can transmit data for diagnosis The Francis Scott Key Hospital is getting by without having a trained radiologist on its graveyard shift because it can send its X-Rays...

Radiation Systems' small satellite dish puts firm in lead for direct broadcast TV. (company profile)
December 17, 1990... Radiation Systems' small satellite dish puts firm in lead for direct broadcast TV Radiation Systems Inc., coming off its strongest year, is adding a revolutionary product to its growing arsenal of communications equipment. The...

Huge leap taken into telecommunications. (Hughes Network Systems)
December 17, 1990... Huge leap taken into telecommunications Germantown-based Hughes Network Systems Inc. made two notable advances in the telecommunications arena this past week. The Hughes Aircraft Co. subsidiary began installing a massive, $40 million...

U.S. Army awards contract valued at $78.8 million. (Telos Corp.)
December 17, 1990... U.S. Army awards contract valued at $78.8 million Chantilly-based Contel Federal System subsidiary Telos Corp., received a contract to provide systems and software engineering support to the U.S. Army communications command and control...

Two contract assignments valued at $253 million. (Martin Marietta)
December 17, 1990... Two contract assignments valued at $253 million Martin Marietta Corp. in Bethesda received a $102.8 million contract option from the Raytheon Corp. for continued production and assembly of Patriot air defense missile systems through 1993....

Defense firm acquires Meridian Corp. (Dyncorp)
December 17, 1990... Defense firm acquires Meridian Corp. Reston-based DynCorp has acquired Alexandria-based Meridian Corp. for an undisclosed amount. Meridian is a consulting firm providing engineering, information systems and management consulting...

D.C. electronics lobbyist acquired by San Jose firm. (Public Affairs Services)
December 17, 1990... D.C. electronics lobbyist acquired by San Jose firm Franson & Associates Inc., a San Jose-based public relations agency servicing technology-based firms, acquired Public Affairs Services Inc. of D.C. for an undisclosed amount. Public...

Vienna firm acquires assets of FlexLink International. (LEGENT Corp.)
December 17, 1990... Vienna firm acquires assets of FlexLink International Vienna-based Legent Corp. acquired the assets of Renton, Wash.,-based FlexLink International Corp. for an undisclosed amount. FlexLink owns technology that makes systems software...

W. Va. lands medical waste production site.
December 17, 1990... W. Va. lands medical waste production site Winfield expects revenues to hit $30 million a year With the opening of a $10 million production facility this month in the West Virginia Life Science Center in Clarksburg, Winfield...

Charles Miller; more lawyers need his skills for chapter 11 case bookwork. (Profile)
December 17, 1990... Charles Miller More lawyers need his skills for Chapter 11 case bookwork With but a slight shrug and very straight face, Charles "Chuck" Miller asserts "bankruptcy lawyers can't do much without numbers." Just look at the deepening...

EER Systems buys Houston launch firm.
December 17, 1990... EER Systems buys Houston launch firm EER Systems Corp. of Greenbelt bought a Houston launch company earlier this month in order to expand into the small satellite field. EER Systems bought Space Services Inc. of America, a Houston...

National Cooperative Bank. (People on the Move - Banks)
December 17, 1990... National Cooperative Bank named Grace Huebscher as president and chief executive officer of NCB Mortgage Corp., a subsidiary. She was senior vice president. She joined NCB in 1987 as vice president and regional manager of NCB's New York...

Orbital Sciences Corp. (People on the Move - High Technology)
December 17, 1990... Orbital Sciences Corp. appointed Scott L. Webster president of Orbital's Space Data Division in Chandler, Ariz. He was executive vice president of the division since 1989, and previously was senior vice president of marketing and business...

Randmark Management Inc. (Contracts)
December 17, 1990... Randmark Management Inc. in Washington signed two contracts to administer dental programs for Well-care of Kingston, New York, and Greater Atlantic Health Services of Philadelphia.

Lucas Western Inc. (Contracts)
December 17, 1990... Lucas Western Inc. Applied Technology Division in Reston signed a long term agreement with General Electric Co.'s Aircraft Engine Business Group for the City of Industry, Calif.-based manufacturer to produce the engine-mounted accessory drive...

Telecom System Integrators Inc. (Contracts)
December 17, 1990... Telecom System Integrators Inc. in Sterling won two contracts valued at $9.76 million to provide telecommunications equipment and services to federal agencies in five eastern states.

CDA Investment Technologies Inc. (Contracts)
December 17, 1990... CDA Investment Technologies Inc. in Rockville won the Securities and Exchange Commission contract to process all 13(d) filings.

Privatization International Inc. (Contracts)
December 17, 1990... Privatization International Inc. in Washington won an Army contract to be an advisor to develop a privatization program for all of the U.S. Military Academy's privatizable assets.

Orkand Corp. (Contracts)
December 17, 1990... The Orkand Corp. in Silver Spring won a five-year, $26.6 million contract from the U.S. Dept. of Energy to provide operations and systems support services to the Energy Information Administration.

Construction Management Collaborative Inc. (Contracts )
December 17, 1990... Construction Management Collaborative Inc. in Alexandria won a project management contract for the Oncology Center for the Loudoun Hospital Center.

Competitive Dynamics Inc. (Contracts)
December 17, 1990... Competitive Dynamics Inc. in Bethesda won a contract to provide client relations training to executives, managers and staff of the Public Building Service of the General Services Administration.

Penril DataComm Networks Inc. (Earnings and Dividends )
December 17, 1990... Penril DataComm Networks Inc., Gaithersburg, reported earning $1.2 million, or 24 cents a share, on revenue of $12.4 million for the quarter ended in October. This compares with earning $803,000, or 17 cents a share, on revenue of $10.3...

Federal Realty Investment Trust. (Earnings and Dividends)
December 17, 1990... Federal Realty Investment Trust, Bethesda, will pay a dividend of 37 cents a share on Jan. 15 to shareholders of record on Jan. 2.

RAC Income Fund Inc. (Earnings and Dividends)
December 17, 1990... RAC Income Fund Inc., Rockville, will pay a dividend of 10.5 cents a share on Dec. 31 to shareholders of record on Dec. 11.

PHP Healthcare Corp. (Earnings and Dividends)
December 17, 1990... PHP Healthcare Corp., Alexandria, reported earning $838,000, or 24 cents a share, on revenue of $23 million for the quarter ended in October. This compares with earning $833,000, or 23 cents a share, on revenue of $19.1 million for the same...

Verdix Corp. (Earnings and Dividends)
December 17, 1990... Verdix Corp., Chantilly, reported earning $147,000, or 1 cent a share, on revenue of $3.2 million for the quarter ended in September. This compares with earning $232,000, or 2 cents a share, on revenue of $2.4 million for the same period last...

Rouse Co. (Earnings and Dividends)
December 17, 1990... Rouse Co., Columbia, will pay a dividend of 15 cents a share on Dec. 21 to shareholders of record on Dec. 14.

First Virginia Banks Inc. (Earnings and Dividends)
December 17, 1990... First Virginia Banks Inc., Falls Church, will pay a dividend of 33 cents a share on Jan. 14 to shareholders of record on Dec. 31.

Safeway Inc. (New Businesses)
December 17, 1990... Safeway Inc. has opened a new 56,000-square-foot Safeway Marketplace store at The Market at Opitz Crossing in Woodbridge. This is the first Virginia Safeway constructed since the company introduced its ultra-modern Marketplace design on the...

Environmental Science and Engineering Inc. (Relocations)
December 17, 1990... Environmental Science & Engineering Inc. has expanded and relocated to 250-A Exchange Place, Herndon, Va. 22070. The phone number is (703) 318-8900.