Washington Business Journal articles from January 1988

Washington Business Journal archives from January 1988

'Teen Tycoon' hit by reverses, files bankruptcy. (Brandt H. Legg, Old Dominion Stamp Sales Inc., Hibbs International Business Brokerage Services Inc., Dominion Music Supplies Inc., A OK Printers)
January 25, 1988... `Teen Tycoon' hit by reverses, files bankruptcy Brandt H. Legg, who was known as the "Teen Tycoon" after he parlayed a stamp business into a small financial empire by the time he was 19, has placed himself and his collection of companies...

Cafe whiz Giaimo is cooking up an offering of all-night diners. (Robert Giaimo, Silver Diner)
January 25, 1988... Cafe whiz Giaimo is cooking up an offering of all-night diners Robert Giaimo, a restaurant whiz who started, then sold, the highly successful American Cafe restaurant chain to W.R. Grace, is expected to launch a new chain of all-night...

Largest area conventions. (Washington D.C. area) (directory)
January 25, 1988... LARGEST AREA CONVENTIONS Ranked by attendance. In the event of a tie, conventions are listed alphabetically. MEETING/EXHIBIT RANK HOST ...

Primark spins off cash cow, keeps its riskier units. (Michigan Consolidated Gas Co.) (company profile)
January 18, 1988... Primark spins off cash cow, keeps its riskier units For years, McLean-based Primark Corp.'s small family of diversified businesses moved forward on the strength of the firm's giant, cash-cranking natural gas subsidiary. All that...

And now: chefs who make housecalls. (Chef Mark Newville) (company profile)
January 18, 1988... And now: chefs who make housecalls Newville's pros will handle party from your own kitchen After two souffles that flopped, Chef Mark Newville is finally cooking with gas. Newville's concoction is a new business which takes a chef...

A. Pickens Butler; good old boy makes Manassas thrift hum. (Profile)
January 18, 1988... A. Pickens Butler Good old boy makes Manassas thrift hum As president and chief executive officer of Piedmont Federal Savings Bank, A. Pickens Butler still hasn't given up his old newsroom habits since joining the thrift 26 years...

Largest accounting firms. (Washington D.C. area) (directory)
January 18, 1988... LARGEST ACCOUNTING FIRMS Ranked by total number of CPA's in local office NO. OF NO. OF STAFF...

How Washington area savings and loans fared in the first three quarters, 1987. (illustration)
January 18, 1988... How Washington area savings and loans fared in the first three quarters, 1987 (All savings and loans over $100 million) Ranked by return on average assets (R.O.A.) ...

Macro Systems Inc. (Contracts)
January 11, 1988... Macro Systems Inc Macro Systems Inc. has been awarded three contracts. It was awarded a $1.4 million, 18-month procurement with the Office for Substance Abuse Prevention of the U.S. Department of Health and Human Services to collect and...

Planning Research Corp. (Contracts)
January 11, 1988... Planning Research Corp. Planning Research Corp. has received a $16.2 million, three-year contract to evaluate innovative technologies for treating hazardous wastes under the EPA's Superfund Technology Evaluation program.

Communications Technology Applications Inc. (Contracts)
January 11, 1988... Communications Technology Applications Inc. Communications Technology Applications Inc. (CTA) has been awarded a contract by McDonnell Douglas, Douglas Aircraft in Lakewood, Calif., to provide assistance in support of the C-17, as well as...

Presidential Airways Inc. (Earnings and Dividends)
January 11, 1988... Presidential Airways Inc Presidential Airways Inc., with headquarters in Reston, recently reported a net loss of $4.8 million, or 65 cents a share, on revenues of $16.6 million in the third quarter ended Sept. 30. That compares to a...

Unisys Corp. (Earnings and Dividends)
January 11, 1988... Unisys Corp. Unisys Corp., the computer manufacturer based in Blue Bell, Penn., recently declared a dividend of 23 cents a share on the company's common stock. The dividend is payable Feb. 8 to shareholders of record on Dec. 24. The...

MCI Communications Inc. (Earnings and Dividends)
January 11, 1988... MCI Communications Inc. MCI Communications Inc. recently announced that, subject to interest rates and other market conditions, the company may acquire up to $80 million principal amount of its 9.5 percent subordinated notes due Aug. 1,...

Piedmont Federal Savings Bank. (Earnings and Dividends)
January 11, 1988... Piedmont Federal Savings Bank Piedmont Federal Savings Bank recently declared a 5 percent stock dividend to shareholders of record on Jan. 8, payable Feb. 5. This is the fourth 5 percent stock dividend declared by the banks since its...

The Federal Home Loan Mortgage Corp. (Earnings and Dividends)
January 11, 1988... The Federal Home Loan Mortgage Corp. The Federal Home Loan Mortgage Corp., recently declared a third quarter 1987 dividend of $1.40 a share on its preferred stock and a dividend of $12.20 a share on its common stock. Both dividends...

EA Engineering, Science and Technology Inc. (New Businesses)
January 11, 1988... EA Engineering, Science and Technology Inc. Sparks, Md.-based EA Engineering, Science and Technology Inc. has formed a new operating division for the company, EA Laboratories, which will conduct all analytical chemistry tasks for the firm...

Atlantic Design P.C. (New Businesses)
January 11, 1988... Atlantic Design P.C. Atlantic Design P.C. is a new Washington-based architecture firm. Earl S. Bell, RA, A.I.A., serves as president and principal of the new company. Bell, formerly with Arthur Cotton Moore/Associates, was responsible for...

DynCorp. accepts buyout offer. (from Synergy Group Inc.)
January 11, 1988... DynCorp accepts buyout offer DynCorp, a McLean-based defense contractor, executed a definitive merger agreement with a group led by its chairman. A special board of independent directors accepted an offer from Synergy Group Inc. and...

KSK lands major area account. (KSK Communications Ltd. awarded Government Technology Services Inc. contract)
January 11, 1988... KSK lands major area account KSK Communications Ltd. of McLean was awarded the $4 million marketing account of Government Technology Services Inc. of Chantilly. The addition of the account has sent KSK scouting for additional personnel...

Atlantic's owner veteran of many corporate wars; but seasoned gunslinger has few notches in his gun to show. (Sequa Corp.'s chairman Norman Alexander)
January 11, 1988... Atlantic's owner veteran of many corporate wars Before his successful takeover of Atlantic Research Corp. last month, Sequa Corp.'s chairman Norman Alexander had been remarkably short on victories in the takeover game. Since the...

Fedstar Savings seeks new capital as group pulls out. (Fedstar Savings Bank; Federal Home Loan Bank Board)
January 11, 1988... Fedstar Savings seeks new capital as group pulls out Fedstar Savings Bank is regrouping after investors who pledged $8 million to strenthen the thrift's capital base became discouraged with regulatory delays and backed out. The...

Janet Bailey 'talks' her way to success; her for-profit interpreting firm for deaf now nation's largest. (Sign Language Associates Inc.)
January 11, 1988... display memorytalks' her way to success When Janet Bailey began working with the local deaf community as a freelance sign language interpreter, her children would ask her when she was going to get a real job. Five years later, Bailey...

Banks, architects detect dip in decade's building boom; area banks tighten credit on loans for real estate. (Washington D.C.)
January 11, 1988... Banks, architects detect dip in decade's building boom Area banks tighten credit on loans for real estate Local lending institutions, most of which already are in a conservative stance, plan to pull in the reins even tighter...

Fewer, smaller buildings force shift by designers; banks, architects detect dip in decade's building boom.
January 11, 1988... Fewer, smaller buildings force shift by designers Area architects are detecting early signs that the hellbent pace of the building rampage is slowing significantly. The signs mark a major shift among office builders and present new...

McLean company ready to lay $350 million cable to London. (Private TransAtlantic Telecommunications Systems Inc. of Virginia)
January 11, 1988... McLean company ready to lay $350 million cable to London Two area entrepreneurs who've spent the last three years prowling Washington's bureaucratic depths are now headed for the Atlantic Ocean, where they'll soon begin laying the first...

As lending tightens, foreign banks pick up slack.
January 11, 1988... As lending tightens, foreign banks pick up slack When local real estate baron Bernard Gewirz began looking for a loan to refinance and renovate an office building at 1666 K St. in downtown Washington, he wasn't necessarily looking for...

Developer reports sales top $110 million for year. (Porten-Sullivan Corp.)
January 11, 1988... Developer reports sales top $110 million for year Porten Sullivan Corp., a subsidiary of International American Homes Inc. in Bethesda, reported a record sales volume exceeding $110 million for last year. The total represents nearly...

IBM said to be close to signing big lease for Franklin Sq. site. (International Business Machines Corp.; Washington D.C.)
January 11, 1988... IBM said to be close to signing big lease for Franklin Sq. site Two developers with long-held plans for major office buildings near Franklin Square are on the verge of icing deals with lead tenants that would allow them to move ahead with...

How he kept Finley Kumble's Washington office together. (Robert B. Washington Jr.)
January 11, 1988... How he kept Finley Kumble's Washington office together He was an outsider, but he found himself in a city significantly driven by outsiders; his brains and his blarney equipped him excellently for Washington, D.C. With sure feet,...

Pepco heads to market with unique offering. (Potomac Electric Power Co.)
January 11, 1988... Pepco heads to market with unique offering In an unusual move, Washington-based Potomac Electric Power Co. is headed for the debt markets with a $50 million convertible debenture offering. According to analysts, the offering is out of...

Delano Lewis sworn in at Board of Trade, sets new priorities.
January 11, 1988... Delano Lewis sworn in at Board of Trade, sets new priorities Sworn in last week as the first black to lead the Board of Trade, Chesapeake & Potomac Telephone Co. vice president Delano Lewis picked four goals from the Board's standing list...

Air Force awards contractor $300 million services contract. (DynCorp)
January 11, 1988... Air Force awards contractor $300 million services contract The U.S. Air Force's Contract Field Team awarded McLean-based DynCorp a $300 million contract for servicing military weapons systems. The contract is for an initial eight-month...

Firm completes sale of aircraft operations. (Fairchild Industries Inc.)
January 11, 1988... Firm completes sales of aircraft operations Chantilly-based Fairchild Industries Inc. completed the sale of its aircraft operations than include Fairchild Aircraft Corp. in San Antonio and Fairchild Aircraft Service Division in Crestview,...

Software designer settles dispute with distributor. (Sage Software and Results Inc.)
January 11, 1988... Software designer settles dispute with distributor Sage Software resolved its recently reported dispute with Results Inc., the company's time sharing distributor. Last month, Sage purchased Results exclusive time sharing license and...

Defense contractor sets capital expenditure budget. (Martin Marietta Corp.)
January 11, 1988... Defense contractor sets capital expenditure budget Bethesda-based Martin Marietta Corp.'s board authorized new capital appropriations of more than $371 million for its aerospace, information systems and materials business. This year's...

Los Angeles Fire Department awards job to McLean firm. (Planning Research Corp.)
January 11, 1988... Los Angeles Fire Department awards job to McLean firm Planning Research Corp., a wholly owned subsidiary of connecticut-based Emhart Corp., was awarded a $25 million contract to develop an integrated fire command and control system for the...

Management firm buys Response Analysis subsidiary. (University Research Corp.)
January 11, 1988... Management firm buys Response Analysis subsidiary University Research Corp. purchased advanced Research Resources Organization, a subsidiary of Response Analysis Corp. of Bethesda, effective this month. Advanced Research's 14 staff members...

2 investors up ante to maintain stake in Washington Bancorporation stock. (Safinance Settlement and Washington National Holdings)
January 11, 1988... 2 investors up ante to maintain stake in Washington Bancorporation stock Watching its stake in Washington Bancrorporation erode, a group of overseas investors has purchased another 73,144 shares for $1.2 million to shore up its position....

$67 million loss unlikely to stop Haft's quest for major retailer. (Herbert and Robert Haft)
January 11, 1988... $67 million loss unlikely to stop Haft's quest for major retailer Despite a punishing $67 million loss in the quarter that closed with October, the Hafts of the Dart Group Corp. will probably keep chasing their dream of acquiring a major...

National Development Bank to move ahead with $4.8 million stock offering.
January 11, 1988... National Development Bank to move ahead with $4.8 million stock offering While the stock market crash has forced many banks and companies to shelve plans to raise money, the National Development Bank of Washington doesn't expect any...

Competition shake up local retailers. (Washington D.C.)
January 11, 1988... Competition shapes up local retailers Local department stores are bracing for the arrival of nationally acclaimed retailers R. H. Macy & Co. and Nordstrom this year, bolstering merchandise displays and putting employees through crash...

McLean broadcast group beams programs to nation's lawyers. (Washington International Teleport of Virginia) (company profile)
January 11, 1988... McLean broadcast group beams programs to nation's lawyers L.A. Law and People's Court are not the only genre of legal programming on television these days. This month, Washington International Teleport, the McLean-based broadcast...

Insurers give mixed reviews to automobile insurance laws. (Virginia)
January 11, 1988... Insurers give mixed reviews to automobile insurance laws Central Virginia automobile insurance representatives find proposed changes to the state's insurance code "a mixed bag." They acknowledge that the proposals address abuses in the...

Interstate General Company L.P. (Proxy Report Excerpts) (company profile)
January 11, 1988... Interstate General Company L.P. St. Charles, Md.-based Interstate General Company L.P. engages in four related real estate activities: community development, homebuilding, development and ownership of rental apartments, and management services....

Firm cashes in on boom for video news. (Professional Video Services Corp.) (includes related article on Robert Grevemberg) (company profile)
January 4, 1988... Firm cashes in on boom for video news Company finds niche as local, foreign clients bypass networks Bob Grevemberg is not yet William Paley, but in the 12 short years since he quit the New Orleans police to become a cameraman, and...

Largest office lease transactions. (directory)
January 4, 1988... LARGEST OFFICE LEASE TRANSACTIONS Transactions are ranked by size of single leases. TRANS- ACTION BUILDING SIZE...

Reuter hit by top-level resignations; former CEO investigated for possible financial improprieties. (Reuter Laboratories Inc., chief executive officer David Marantette III)
January 4, 1988... Reuter hit by top-level resignations Former CEO investigated for possible financial improprieties Manassas-based Reuter Laboratories Inc. has been hit with top-level defections following the resignation of the company's chief...

Isomet Corp. (proxy report excerpt) (company profile)
January 4, 1988... NASDAQ--IOMT Isomet Corp. Springfield, Va.-based Isomet Corp. designs, manufactures and services advanced high-technology laser control devices and systems for use in information handling, military, industrial and graphic arts...