St. Louis Business Journal articles from April 1995

St. Louis Business Journal archives from April 1995

Clinton plan clouds SBA role here. (Pres. Bill Clinton; proposed cut in Small Business Administration budget expected to result in closure of office in St. Louis, Missouri)
April 3, 1995... Andrews fears only one office to remain in Missouri President Clinton's proposal to cut the Small Business Administration's budget by 35% is casting a shadow on the future of the St. Louis office. "One distinct possibility is that there will...

Tivoli project borders on philanthropy. (loans finance restaurateur Joe Edwards' renovation of condemned Tivoli Theatre)
April 3, 1995... University City contributes $200,000 for theater rehab Restaurateur, rock 'n' roll aficionado and University City booster Joe Edwards can perhaps add philanthropist to his resume. With $200,000 in loans from University City, $600,000 in...

TV deal lifts Pulitzer stock. (Pulitzer Publishing Co.'s stock rises by 10% following deal with television networks)
April 3, 1995... A lucrative deal with three TV networks, which promises to add as much as $8.5 million annually to pre-tax profit, helped propel Pulitzer Publishing Co.'s stock up 10% in the past two weeks. Earlier this year, the St. Louis company struck...

Siemer exits Fleishman. (Paul Siemer resigns from Fleishman-Hillard Inc.)
April 3, 1995... Exec headed A-B account Paul Siemer, a Fleishman-Hillard Inc. senior executive who oversaw the bulk of the public relations agency's giant Anheuser-Busch Cos. account, resigned suddenly March 21. The Anheuser-Busch public relations account,...

Ebsworth to gain on Intrav dividend. (CEO Barney Ebsworth to earn over $1.6 million annually)
April 3, 1995... Although Barney Ebsworth plans to step down as chief executive following Intrav's initial public offering, he will still reap a substantial income from the travel company, documents show. Intrav plans to begin paying a 50-cent-a-share annual...

Newspaper profits take hit from rising cost of pulp. (newsprint costs rise)
April 3, 1995... The power of the press to make a profit is being hurt by the rising cost of paper. The cost of newsprint - generally a newspaper's second-largest expense (behind personnel costs) - has risen 46% since February 1994. And the costs continue to...

Reinhold Homes proposes southwest county project. (Reinhold Homes Inc. to build single-family homes in southwest St. Louis County, Missouri)
April 3, 1995... Reinhold Homes Inc. proposes to build 94 single-family homes near the entrance of the George C. Winter County Park off Old Highway 141 and Allen Road in southwest St. Louis County. The proposal calls for homes that cost between $130,000 and...

First Banks, Lemay add to torrent of TV bank ads. (First Banks Inc.; Lemay Bank and Trust Co.; large banks hold advertising campaigns to lure more customers)
April 3, 1995... For years, First Banks Inc. stayed away from image building television advertising. But last year the Geile-Rexford Creative Associates ad agency assembled a set of scripts mimicking the homey style of the movie "When Harry met Sally." First...

I-64 magnet attracts Jack Schmitt, with more expected. (Interstate 64; car magnate moves Nissan-Volkswagen dealership to St. Clair Auto Mall in O'Fallon, Missouri)
April 3, 1995... The flow of Metro East businesses into the Interstate 64 corridor continued last week when local car magnate Jack Schmitt announced he was moving his Nissan-Volkswagen dealership from Belleville to the St. Clair Auto Mall in O'Fallon. Schmitt...

Court ruling limits review board's scope. (Missouri Supreme Court limits Missouri Health Facilities Review Committee authority to regulate health-care projects)
April 3, 1995... A recent Missouri Supreme Court decision reversed a ruling that would have expanded the power of a state agency to regulate major health-care projects. The decision, handed down March 21, overturned a lower court ruling in a case between SSM...

Mid-level staff cuts could save St. John's millions. (layoff of middle-management employees at St. John's Mercy Medical Center)
April 3, 1995... St. John's Mercy Medical Center's recent layoff of middle-management employees will save the hospital millions of dollars annually, health-care experts say. And the layoffs are just the first wave of drastic cost cutting expected to hit the...

Stage union thwarted in courtship of Kiel workers. (Kiel Center sports arena; National Labor Relations Board dismisses Stage Employees' petition to represent ushers and ticket takers)
April 3, 1995... A local stage employees union has lost the latest round in its fight to recruit employees of the new Kiel Center sports arena. The stage employees union led a petition to represent about 210 ushers and ticket takers. But those workers also are...

St. Louis metro area ranks 40th in patents per capita. (St. Louis, Missouri)
April 3, 1995... St. Louis ranks in the middle when it comes to patents awarded per capita. The study, conducted by American City Business Journals, looked at the 80 biggest metropolitan areas in the United States and St. Louis came in at number 40. American...

State NFIB head lauds lawmakers' broad tort reforms. (National Federation of Independent Businesses-Illinois Dir. John Davis; Illinois legislators)
April 3, 1995... By passing sweeping tort reforms and proposing changes to workers' comp laws, Illinois legislators are laying the groundwork "for a very bright future for small business," said the head of the state's top small-business advocacy group. John...

Roosevelt Financial Group Inc. (Proxy Report Excerpts)(Company Profile)
April 3, 1995... Stanley J. Bradshaw President and chief executive officer Roosevelt Financial Group is a holding company whose primary subsidiary is Roosevelt Bank - Missouri's largest savings and loan. Roosevelt Bank does business through 80 branches in...

Dobbs brothers' split has roots in succession plan. (Dobbs Tire and Auto Center Inc.)
April 10, 1995... After spending 25 years building the largest independent tire dealership in St. Louis, two members of the Dobbs family are trading charges in court over the personal use of funds at the $40 million company. Underlying the accusations are...

Reuter takes center stage at The Sheldon. (Paul K. Reuter, executive director of Sheldon Arts Foundation in St. Louis, Missouri)
April 10, 1995... The new executive director at The Sheldon Arts Foundation has wasted little time putting his stamp on the organization, which operates the 83-year-old Sheldon concert hall in midtown St. Louis. Since Paul K. Reuter took the helm last September,...

Shareholder group attacks A-B bonuses: plan would pay August III $1.2 million.(Institutional Shareholder Services Inc.; Anheuser-Busch Companies Inc.; August Busch III)
April 10, 1995... Anheuser-Busch Cos. is asking its shareholders to approve a bonus plan worth $6.7 million to its top 100 executives. But Institutional Shareholder Services Inc., an organization that evaluates such bonus plans for large shareholders, said the...

Advertisers come back to baseball, but holes exist in radio, TV lineup. (St. Louis Cardinals baseball games)
April 10, 1995... With the long and bitter baseball strike over for now, St. Louis Cardinals broadcasters say advertisers are returning to the game. And at least some buyers of commercial time are finding the pickings more to their liking. "There's an awful...

Bosley, Westfall take command of film office. (Mayor Freeman R. Bosley Jr.; county executive Buzz Westfall; St. Louis Film Office)
April 10, 1995... Area politicians and bureaucrats are grasping the reins at the St. Louis Film Office. The office has been in limbo since January when its seven commissioners resigned following months of ill-will between the organization and local stagehands...

Carnahan budgets $100,000 for entertainers' tax for arts. (Missouri Gov. Mel Carnahan)
April 10, 1995... An innovative law that could generate up to $5 million annually for the arts is only slated to provide $100,000 this year, according to Gov. Mel Carnahan's budget. The legislation, which went into effect Jan. 1, allocates up to 50% of the...

Wish list rests on cutting emissions inspection sites.
April 10, 1995... Having discovered that St. Louis may need only half the number of vehicle emissions inspection stations originally anticipated, the East-West Gateway Coordinating Council has come up with a wish list of projects on which to spend the extra $33...

Decade-old saga of Hutchings, Manchester Life plays in court. (Hutchings family members sue Manchester Life and Casualty Management Corp.)
April 10, 1995... More than a decade after the collapse of the Hutchings family's insurance business, another round of litigation and controversy has erupted over more than $1 million in "found" money connected with the Manchester Life and Casualty Management...

DeMun luxury condo project more 'labor of love,' agent says. (DeMun Park, St. Louis, Missouri; Rosebury Redevelopment Corp.)
April 10, 1995... The DeMun Park neighborhood has always had potential, but not all of it has been realized. During the past three years, the Rosebury Redevelopment Corp. has invested roughly $3.6 million into the neighborhood by acquiring and renovating five...

MHDC loans give low-income housing boost. (Missouri Housing Development Commission)
April 10, 1995... Four St. Louis area low-income housing neighborhoods will get a boost, thanks to the Missouri Housing Development Commission. The four developments were selected from a total of 68 proposals received in late 1994 requesting $71 million from the...

Bridges could go one-way to untie traffic gridlock. (Martin Luther King and Eads Bridges on the Mississippi River)
April 10, 1995... In hopes of alleviating drive-time gridlock, transportation officials in Illinois and Missouri are considering turning both the Martin Luther King and Eads bridges into one-way thoroughfares during peak driving periods. That proposal is among...

Proposal seeks pilot program to transport poor to jobs.
April 10, 1995... Seven local agencies and one Philadelphia company have joined forces to create a program they hope will bridge the economic gap between St. Louis' poorer urban neighborhoods and its more affluent suburbs. Bridges to St. Louis is one of six...

St. Luke's gets top billing for high treatment charges. (St. Luke's Hospital in St. Louis, Missouri)
April 10, 1995... St. Luke's Hospital topped the list of highest charges in more treatment categories than any of its counterparts last year. Following St. Luke's on the most-expensive list is St. Louis University Hospital and Barnes Hospital. Barnes also had...

Blue Cross-HealthLink merger bodes of market shakeup. (Blue Cross/Blue Shield of Missouri; HealthLink Inc.; healthcare industry)
April 10, 1995... The recent merger of Blue Cross/Blue Shield of Missouri and HealthLink is the vanguard of a drastic shakeup in the St. Louis managed care market, experts say. The managed care industry is starting to align itself in ways similar to the rapid...

$50 million ceiling on tax boosts passes committee. (Missouri Legislature bill seeking caps on tax increases)
April 10, 1995... Missouri voters may have struck down the Hancock II proposal last November to limit the state's power to increase taxes, but state legislators are fighting to preserve the spirit of the failed referendum. Late last month, the House Ways and...

Frontiere lands on financial feet: despite hefty NFL payments, deal is still sweet. (St. Louis Rams owner Georgia Frontiere; National Football League)
April 17, 1995... The St. Louis Rams and team owner Georgia Frontiere are not going to have to pinch pennies, even after sharing a portion of their St. Louis-generated wealth with the National Football League. The Rams offered the league $26 million to move...

Aylsworth steps into key role at President Casinos. (John Aylsworth; President Casinos Inc.)
April 17, 1995... John Aylsworth, the newest member of President Casinos Inc.'s senior management team, apparently is on a fast track at the St. Louis-based gambling company. Pittsburgh tycoon John Connelly, 69, who is rumored to be ill, will relinquish the...

Teamsters seek union at BJC. (International Brotherhood of Teamsters; BJC Health Systems)
April 17, 1995... Driven by the turmoil and instability in the health-care industry, the movement to organize hospital workers is spreading throughout the BJC Health System. The effort by the Teamsters, under way at Barnes, Jewish and Christian hospitals, has...

A-B weighs bid for Pet building. (Anheuser-Busch Companies Inc.; Pet Inc.'s headquarters in St. Louis, Missouri)
April 17, 1995... Anheuser-Busch Cos. is one of several local companies interested in buying the Pet Inc. headquarters downtown that's on the sale block for $23 million. Finished in 1969 for about $15 million, the 300,000-square-foot building is being marketed...

Emerson grads shine in top posts at bevy of companies. (former executives of Emerson Electric Co. performing well in other companies)
April 17, 1995... Amid tough competition and union grumblings, Borg-Warner Security Corp.'s stock price plummeted from $21 a share in 1993 to $5.625 in late March. But in the last three weeks, Borg-Warner's stock shot up nearly 50% to close at $8.375 Wednesday,...

Local farmers say cutting subsidies would be fatal.(Southwestern Illinois)
April 17, 1995... Though farmers in Southwestern Illinois consistently produce yields far above the national average, they say government subsidies that face steep cuts or even extinction are still needed. In Madison County, for example, a farmer is happy to...

Family's prayers answered thanks to March of Dimes. (medical research funded by March of Dimes Research Foundation)(March of Dimes Walk America: Celebrating 25 Years on the Road to Healthier Babies)
April 17, 1995... Michael and Carlene Burridge weren't prepared for their unborn son to follow so soon in his dad's footsteps. Michael underwent open heart surgery to replace his aortic valve with a St. Jude Mechanical Valve in April 1992. Less than a year...

Midwest Venture proposing area's only asphalt racetrack. (Midwest Venture Group Inc.)(Southwestern Illinois)
April 17, 1995... Auto racing fans in the Metro East may someday be able to see live NASCAR auto racing if a speedway proposed for O'Fallon is built. If approved, the track will face competition from seven existing tracks in the region, including two in the...

Workers' comp rates decline with reform of high-risk pool. (statistics from the Missouri Div. of Insurance)
April 17, 1995... Overall rates for workers' compensation are falling, according to 1995 charges posted by 210 insurers with the Missouri Department of Insurance. Rates on average dipped 0.6%, the department said. The largest workers' compensation insurer,...

Parks sees steady growth, hopes office park takes off. (St. Louis-Downtown Parks Airport)(Southwestern Illinois)
April 17, 1995... Change is happening all around St. Louis-Downtown Parks Airport. But airport officials say none of it will affect the airport's health, which has been improving steadily since the floods washed extra business into Cahokia, where Parks is based....

$450,000 raised for campaign to keep Scott, Price open. (Scott Air Force Base; Charles Melvin Price Support Center)(Southwestern Illinois)
April 17, 1995... Southwestern Illinois leaders say they'll need to raise $1 million to save local military installations from the Pentagon budget ax. Jim Pennekamp, executive director of the Leadership Council Southwestern Illinois, said the effort already has...

Granite City, American Steel boost employment. (Granite City Steel; American Steel Foundries)(Southwestern Illinois)
April 17, 1995... Two major steel plants in Granite City are expanding and hiring more workers. Granite City Steel, a division of the Mishiwaka, Ind.-based National Steel Corp., is establishing a $67 million coating line at its plant in Granite City. The new...

Lofty goal: tax credits hold up lofts for artists. (Missouri Housing Development Commission rejects tax credits for artists' low-income housing)
April 17, 1995... A project to transform a 10-story warehouse on Washington Avenue into low-income housing for artists hit a snag last month when the Missouri Housing Development Commission did not award the project crucial tax credits. The developer, however,...

New Edwardsville High result of growth surges. (growing enrollment at Edwardsville High School in Edwardsville, Illinois)(Southwestern Illinois)
April 17, 1995... A population explosion, in Edwardsville and neighboring Glen Carbon is prompting construction of a $27 million state-of-the-art high school. Ironically, when the new Edwardsville High School is completed in fall 1996, it is likely to make the...

2 aldermen express concern over President Casinos bid. (President Casinos Inc.'s bid to operate a second casino in Laclede's Landing, Missouri)
April 17, 1995... A bid from President Casinos Inc. to operate a second casino complex near Laclede's Landing has some aldermen up in arms. President was one of four companies that submitted gambling proposals to the city. The other companies that submitted bids...

$5 million fitness center going up in Belleville. (Kings Point Racquet Club and Fitness Center in Illinois)(Southwestern Illinois)
April 17, 1995... Construction is beginning on the $5 million Kings Point Racquet Club and Fitness Center in Belleville. A development of the privately held Connors Enterprises Inc., the club is slated to open in time for the start of the indoor tennis season...

Marriott, Hilton in path of two airport expansion plans. (Missouri airport expansion may cause hotels to relocate)
April 17, 1995... Several hotels along Interstate 70, including the Marriott and the Hilton, will have to be torn down and moved under two of the airport's eight proposed expansion plans. Airport officials say those costs have been factored into estimates for...

Peabody Holding operating profit more than doubles. (Peabody Holding Company Inc.)
April 17, 1995... Operating profit for the Peabody Holding Group, the nation's largest coal company, improved to $227 million in 1994 from the $105 million the company posted in 1993. The company's 1993 operating profit was a five-year low for Peabody, which...

Cokie Roberts: Gephardt will seek presidency again. (Congressman Richard Gephardt)
April 17, 1995... Congressman Richard Gephardt will make another run at the presidency, one of the nation's top political reporters predicts. Cokie Roberts, ABC News correspondent and a regular on "This Week with David Brinkley," said the Missouri Democrat is...

Pharmacists seek to rein in drug pricing.
April 17, 1995... Independent pharmacist David Kammer isn't just surviving. His store at 8631 Delmar Blvd. in University City is actually thriving, he says. Kammer's success at M.D. Pharmacy Inc. isn't something being experienced by all independent pharmacists....

Customized service: Design Alternatives trains, places employees. (Design Alternatives Inc. in Ferguson, Missouri)
April 17, 1995... Design Alternatives 15 South Florissant Road Ferguson, Mo. 63135 Business Activity: Design Alternatives specializes in three areas: training, placement and technical services. The training division, started in 1993, offers 54 courses that...

Incubators take regional approach. (business incubators in St. Louis, Missouri)
April 17, 1995... If the St. Louis metropolitan area is to grow and compete effectively in the 21st century, many believe regionalism must prevail. One of the best examples of this spirit of cooperation is the St. Louis Enterprise program and its incubator...

St. Louis teams with Memphis, New Orleans to carry tune. (promoting musical heritage along the Mississippi River corridor)
April 17, 1995... There must be something in the water Mississippi River water, that is. The river flowing from St. Louis past Memphis and New Orleans into the Gulf of Mexico carried much more than boats filled with cargo and passengers. It carried music. The...

Poll shows no clear favorite among airport plans. (Missouri)
April 17, 1995... An informal poll of community leaders, airlines and special interest groups reveals there is no clear favorite among the airport's eight proposed expansion plans. "Basically, we're against any of them that come into our city," said Mayor...

Levy early pick in city gambling chase. (Chicago-based Levy Restaurants)
April 24, 1995... Mayor's campaign treasurer, Hyatt management give bid a boost Chicago-based Levy Restaurants, which provides food concessions at Kiel Center and America's Center, is the front-runner in the battle for development rights for a Laclede's Landing...

Kling, Jacobs lend $1 million to help bail out NationsMart. (S. Lee Kling; Franklin Jacobs; NationsMart Corp.)
April 24, 1995... Three former directors and one current director of NationsMart loaned the struggling company more than $1.2 million during the past two years. About 38% of the loan money is to finance up to 100% of the $20,000 fee required to purchase one of...

Sun sets on Glennon's 'Wake Up' biz. (Glennon Cos.)
April 24, 1995... The Glennon Cos. can no longer handle "Waking Up to Missouri." That's according to the Missouri Division of Tourism, which decided last month not to renew the $5 million account with St. Louis' fifth largest advertising and marketing agency...

Venture, Sansone back out of northside shopping center. (Venture Stores Inc.; Sansone Group; St. Louis, Missouri)
April 24, 1995... Sansone Group and Venture Stores are pulling out of a proposed $20 million shopping center in north St. Louis. Their departure from the long-planned City Plaza development leaves the project - touted by Mayor Freeman Bosley Jr. as important to...

BJC, St. Luke's talk affiliation. (BJC Health System; St. Luke's Hospital)
April 24, 1995... BJC Health System is negotiating once again to merge or affiliate with St. Luke's Hospital, according to people familiar with the talks. Discussions between St. Luke's and BJC were reopened after the termination of longtime St. Luke's...

VisiBall brightens duffers' searches for lost golf balls.(Business Links: Golf in St. Louis)
April 24, 1995... Ask any golfer - one of the more frustrating ways to spend a day on the links is looking for your golf ball. Jim Murphy is one area golfer who has spent time searching for that two-inch sphere of white. Since taking up the game four years ago,...

Executives use golf game to relax, drive home deals.(Business Links: Golf in St. Louis)
April 24, 1995... Standing high atop the tee at the 16th hole at The Legends, Carol Caruthers likes to take in the scenic view before powdering a Titleist into the fairway below. With the warmer spring weather, Caruthers and thousands of other area executives...

Lesson no. 1: topflight instructor improves swing.(Business Links: Golf in St. Louis)
April 24, 1995... Golf is a physical diversion that helps develop focus and technique. In many business circles, it's also the outdoor boardroom. For either or both reasons, people are taking up golfing in droves. But first they need to learn to play. Jill...

Country clubs cater to golfers, women, families.(Business Links: Golf in St. Louis)
April 24, 1995... Competition for the leisure dollar is stiff, and country clubs are changing to keep and attract members. A Club Management Association of America survey of its members found that a number of issues were affecting membership in private clubs....

Analysis on ATCOM 'totally flawed,' RCGA says. (Army Troop and Aviation Command; St. Louis Regional Commerce and Growth Association)
April 24, 1995... The military analysis the Base Relocation and Closure commission used to decide the fate of the Army Troop and Aviation Command was "totally flawed" said one of the region's top economic leaders. Richard Fleming, president of the St. Louis...

Medicaid contract worth $190 million to 7 insurers.
April 24, 1995... Missouri's experiment with the way poor people get health care will be worth an estimated $190 million in Medicaid contracts to seven health insurers based in St. Louis. The state hopes to save $14.5 million in the first year of the privately...

QVS planning to franchise custom clubs operation. (golf equipment shop)(Business Links: Golf in St. Louis)
April 24, 1995... Professional clubmaker and amateur golfer James Hoke envisions a future where golfers of every skill level will buy custom-made clubs. Hoke, a chief financial officer for Missouri Goodwill Industries by day, owns QVS - a shop on Watson Road...

Size matters to duffers choosing oversized clubs.(Business Links: Golf in St. Louis)
April 24, 1995... "Bigger is better" are the new bywords in golf circles. More than half of all golfers now carry at least one oversized club in their bags. The whirlwind of hype is understandable: No less than 48 manufacturers now offer golf clubs with...

Powerbilt intros new clubs with built-in shock relief. (PowerBilt Golf)(Business Links: Golf in St. Louis)
April 24, 1995... It's the trip many golfers live for all winter: that first trek of the season to the practice range or nearby course. Then, with the golfer's timing off from lack of practice, cold golf club meets cold golf ball and cold hands sting like crazy....

Bubbling up: Precision Fountains makes a splash in landscaping.(Company Profile)
April 24, 1995... Precision Fountains 6510 Page Ave. Pagedale, Mo. 63133 Business Activity: Precision Fountains is a design, supply firm which specializes in water fountain design and engineering. It will design and supply pools and ponds for residential and...

Mid. Tec. helps firms try tomorrow's technology now. (non-profit organization)
April 24, 1995... Computers are found everywhere. There is no job or business today that is not affected by automation. Dealing with technology can be intimidating to those of us in the field. To others it can become a barrier to success. St. Louis is fortunate...

Legal profession can lead way to change, equality.
April 24, 1995... We are a nation of differences. Yet those differences do not make us weak; they are the source of our strength. We are a nation built on a dream, a dream that all of us, if we are given a fair chance to work, to learn and to produce, can improve...

Diversity management a productive strategy.
April 24, 1995... Thirty years ago, in the midst of the civil rights movement and the growing demands by women for equal employment opportunities, the challenge for American business was finding ways to recruit and place women and minorities. Today, with...

In need of leaders.
April 24, 1995... Some of these columns have carried messages from several of our citizens. During the past week I heard Carolyn Losos speak upon receipt of the Human Relations Award of the American Jewish Committee, on its 80th year of operation. Losos has a...

Magna Group Inc. (proxy report excerpts)(Company Profile)
April 24, 1995... G. Thomas Andes Chairman and chief executive officer Magna Group is a bank holding company with $4.6 billion in assets and a network of 103 locations in St. Louis and central and southwestern Illinois. The company posted a profit of $45...