St. Louis Business Journal articles from April 1998

St. Louis Business Journal archives from April 1998

Express Scripts Rx: fast growth. (Express Scripts Inc.)
April 27, 1998... Express Scripts Inc. wants to double the size of its corporate headquarters either through expansion or relocation, according to real estate sources. The search for new office space follows a deal with Columbia/HCA Healthcare Corp. that will...

McCormack Baron buys out investors; SunAmerica loans firm $7 million. (McCormack Baron and Associates Inc.; SunAmerica Affordable Housing Partners)
April 27, 1998... McCormack Baron & Associates Inc., recognized nationally for building successful affordable housing in abandoned urban neighborhoods, has a new ownership structure. The St. Louis-based development firm has bought out its approximately 60...

Market spurs luxury living. (booming St. Louis, Missouri, economy spurs buying spree)
April 27, 1998... With the Dow Jones industrial average topping 9,000 and unemployment and consumer confidence near record levels. Americans are lapping up luxury as never before. And in St. Louis, the new golden era is especially sweet. Area residents are...

Deal sets stage for RightChoice sale; Anthem could make a play for managed care company. (RightCHOICE Managed Care Inc.; Anthem Corp.)
April 27, 1998... Anthem could make a play for managed care company' In settling its legal battle with the state, Blue Cross and Blue Shield of Missouri may have set the stage for a merger or sale of its for-profit subsidiary, RightChoice Managed Care Inc....

Boeing's $1 million Rams ad deal has patriotic touch. (Boeing Co.; St. Louis Rams)
April 27, 1998... The St. Louis Rams might be losing on the field, but Boeing Co. thinks they are worth $1 million in a new advertising campaign that pumps up patriotism. The defense giant, which saw first-quarter earnings tumble and is planning hefty...

Sikeston bank plans to open branches in St. Louis market. (First National Bank of the Mid South)
April 27, 1998... The First National Bank of the Mid-South, a Sikeston, Mo.-based bank with about $425 million in assets, plans to move into the St. Louis market. In an application filed with the Comptroller of the Currency earlier this month, the bank asked...

Regional system for airports studied: committee looks at bi-state cooperation for all area airports. (St. Louis, Missouri)
April 27, 1998... A blue ribbon committee appointed by Mayor Clarence Harmon, St. Louis County Executive George "Buzz" Westfall, St. Charles County Executive Joe Ortwerth and St. Charles Mayor Bob Moeller is exploring how the aviation needs of the St. Louis...

Baker to be added to handle run on Willie McGee cookies. (St. Louis Cardinals player Willie McGee; Dad's Cookie Co.)
April 27, 1998... Chocolate chip cookies named after Cardinals player Willie McGee, which debuted at Busch Stadium April 14, are so hot that grocery stores are stocking up and a second baking company is being hired. Willie's Gourmet Chocolate Chip Cookies are...

Breeding Flora will take more than peanuts. (elephant Flora)
April 27, 1998... Circus Flora - St. Louis' nationally acclaimed one-ring circus - is in better financial shape than it has been in some time, but the need for money is more urgent than ever. The biological clock of Circus Flora's star pachyderm is ticking,...

Norwood retires from Bethesda after a 33-year run as president. (Bethesda General Hospital and Homes Pres. John Norwood)
April 27, 1998... One of the longest-serving hospital administrators in the St. Louis area, John Norwood, has stepped down as president of Bethesda General Hospital and Homes. Norwood, 66, officially retired April 15, but still reports to his office at the...

Peper Martin, KC firm merge. (St. Louis-based Peper Martin Jensen Maichel and Hetlage and Kansas City-based Blackwell Sanders Matheny Weary and Lombardi)
April 20, 1998... In what is the largest law firm merger in Missouri and one of the largest recent law firm mergers in the country, Peper Martin Jensen Maichel and Hetlage of St. Louis is combining with Blackwell Sanders Matheny Weary & Lombardi of Kansas City....

NationsBank's trust unit prime for consolidation: speculation surrounds group's 500 workers. (St. Louis, Missouri-based Asset Management Group)
April 20, 1998... Speculation surrounds group's 500 workers NationsBank's St. Louis-based Asset Management Group could see a shift to the West Coast, following the planned merger of NationsBank and BankAmerica Corp. Bankers and industry analysts who expect...

LIN heads list of buyers for Pulitzer broadcasting. (LIN Television Corp. considers Pulitzer Publishing's broadcast properties)
April 20, 1998... LIN Television Corp., backed by the deep pockets of buyout firm Hicks Muse Tate & Furst, is interested in acquiring broadcasting properties of Pulitzer Publishing because of its strong news programming, a LIN official suggested. "LIN is...

Venture Stores could be sold; Kimco possible buyer. (Venture Stores Inc.; Kimco Realty Trust)
April 20, 1998... The latest speculation in the Venture Stores Inc. bankruptcy case is that the troubled retailer will end up being sold. According to one source, Kimco Realty Trust, owner of 47 stores and other Venture property, is negotiating with Venture's...

Battle starts over doctors' incentive pay for HMOs. (health maintenance organizations)(Money and Medicine)
April 20, 1998... A battle is looming over how hard Missouri regulators should clamp down on the financial incentives health maintenance organizations give to doctors. The first skirmish: defining the kinds of incentives that should be restricted and getting...

Grandfather's advice computes for Feigenbaum. (Oakwood Systems Group; founder and owner Robyn Feigenbaum)(Small Business)
April 20, 1998... Business Activity: Advice her grandfather gave her 30 years ago has paid off for Robyn Feigenbaum. The founder and owner of Oakwood Systems Group has slowly, but steadily, expanded her company, planting it firmly in the crowded field of...

ADR preserving valued relations for businesses. (alternative dispute resolution)(Law Day)
April 20, 1998... Resolving business disputes through litigation is costly - both in terms of dollars spent on the process and in terms of the destruction of valued business relationships. Businesses, bar associations and the courts in Missouri are...

95% of workers' comp cases settled by mediator. (workers' compensation)(Law Day)
April 20, 1998... Workers' compensation is a historical compromise designed to benefit injured workers and employers. The compromise is designed to assist injured workers, regardless of who was at fault. In this compromise, employers gave up their right to...

Limits on court intervention during arbitration process.(Law Day)
April 20, 1998... Arbitration agreements are clauses in contracts designed to resolve disputes between the parties to the contract with minimum court involvement. The limited court involvement is thought to make the arbitration process cheaper and faster than...

In troubled waters. (President Casinos' collision incident)
April 13, 1998... Admiral likely to lose $5 million while closed The collision of a runaway barge and the Admiral puts St. Louis-based President Casinos in rougher waters. The company, which depends heavily on cash from operations, will be without its...

Sansone vs. THF. (Sanson Group Inc.; THF Realty)
April 13, 1998... Developers battle for Olivette land Two major local retail developers - Sansone Group Inc. and THF Realty - are competing fiercely for the right to redevelop a large residential neighborhood in the city of Olivette. The area in contention...

Estate in Ladue listed for sale at $3.3 million. (Denny Estate property)
April 13, 1998... One of Ladue's original homesteads is expected to fetch top dollar from one of several home builders wanting to subdivide the property. The remaining 6.05 acres of the former Denny Estate at 10041 Conway Road is listed with Edward L....

Citicorp Mortgage to gain renewed interest with merger. (merger plan between Citicorp Mortgage and Travelers Group Inc.)
April 13, 1998... Thornberry, Halbrook leave prior to deal The fortunes of Citicorp Mortgage, a home loan origination and servicing business that employs 1,900 people at its headquarters in west St. Louis County, could be looking up, with the planned merger of...

Starts-ups spark rebirth in local advertising market. (St. Louis, Missouri)
April 13, 1998... Top 21 agencies hit $140 million in revenue A group of hot new advertising agencies - most of them less than 5 years old - is fueling growth of the St. Louis advertising community by gaining national clients. "It feels like there's a whole...

Westin Hotels looks at Cupples, Edison warehouse. (Westin Hotels Co.)
April 13, 1998... Chain lacks a site in St. Louis market Westin Hotel Co. is eyeing two historic properties in downtown St. Louis for a high-end hotel - Cupples Station and the Edison Brothers warehouse. The chain long has been interested in opening a hotel...

Judge dismisses Ristau's wrongful termination suit against Blue Cross. (former CFO of Blue Cross and Blue Shield of Missouri Michael Ristau)
April 13, 1998... A judge has dismissed a lawsuit against Blue Cross and Blue Shield of Missouri by its former chief financial officer, although the legal wrangling may not be over. Michael Ristau, the former CFO, claimed Blue Cross fired him because he...

Tripos compounds used to search for anti-cancer drugs.
April 13, 1998... Tripos Inc. has signed a deal with Horsham, Pa.-based Cell Pathways Inc. to help it search for anti-cancer drugs using thousands of test compounds developed by Tripos and a partner. Tripos and the partner, Toronto-based MDS Inc., will reap...

HMOs on the road to recovery. (St. Louis, Missouri, health maintenance organizations)
April 6, 1998... Profitability Pulse 1997 net income or loss (in red) at HMOs that operate in St. Louis (in millions of dollars) Blue Choice(*) $8.733 CIGNA HealthCare $1.127 Group Health Plan ...

Allegiant up for sale. (bank holding company Allegiant Bancorp Inc.)
April 6, 1998... Union Planters Corp. heads buyers list Allegiant Bancorp Inc. is on the sale block, according to several people familiar with the bank. Union Planters Corp. is a potential buyer, according to those people. Sources said Union Planters had...

Williams' exit stirs questions. (Brown Shoe President Thomas Williams)
April 6, 1998... Thomas Williams' exit last month as president of Brown Shoe Co. has raised questions among industry observers about succession and direction at the St. Louis-based footwear company. Williams, 49, was widely regarded as heir apparent to B.A....

'Winning is the best marketing.' (professional hockey team St. Louis Blues could gain $1 million per playoff game)
April 6, 1998... Blues sell out 9 straight; could reap $1 million per playoff game After racking up one sellout after another at Kiel Center lately, the Blues are steaming toward the playoffs with the potential to bring in close to $1 million for each...

Claycorp considers options for Community Title site. (Clayco Construction Co. real estate arm's plans for office building in Clayton, Missouri)
April 6, 1998... Clark has it under contract for $7 million A new high-rise office building is in the works for Clayton. The question is: How big will it be? Claycorp, the real estate arm of Clayco Construction Co., has the Community Title building and...

SSM to raise $475 million in bond issue. (SSM Health Care System)
April 6, 1998... Fitch gives bonds 'AA' rating despite $22 million loss on physician practices SSM Health Care's $475 million revenue bond issue planned for later this month got a vote of confidence from Fitch IBCA, when Fitch gave the bonds an AA rating,...

Laser Vision could see windfall from FTC ruling. (Laser Vision Centers Inc. to benefit from Federal Trade Commission's decision on price-fixing case)
April 6, 1998... Federal price-fixing charges against the two largest manufacturers of excimer lasers used for eye surgery could boost the fortunes of Laser Vision Centers Inc. - although by how much is debatable. Laser Vision, which operates 62 lasers...

Tenet seeks OK for $8 million doctors, office building. (Tenet Healthcare Corp. to build new office in St. Louis, Missouri)
April 6, 1998... The Des Peres Board of Aldermen is expected to decide the fate of a proposed $8.3 million medical office building at Deaconess West Hospital. The new building would require a special use permit and changes in two Des Peres ordinances, said...

Berg Electronics Corp. (proxy report excerpts)(Company Profile)
April 6, 1998... James N. Mills Chairman and chief executive officer Berg Electronics Corp. provides simple as well as technically complex connector, socket and cable assembly products primarily to the telecommunications, high-end data processing, personal...