St. Louis Business Journal articles from February 1994

St. Louis Business Journal archives from February 1994

Rising rents draw apartment investors; two complexes fetch $20 million. (Raintree Apartments; Wedgefield Apartments)
February 28, 1994... Rising rents and falling vacancy rates are bringing investors back into the hunt for local apartment complexes. New complexes also could be going up in 1994 for the first time in years in west St. Louis County and St. Charles County, said...

Slatkin tunes up for D.C. podium, music sources say. (Leonard Slatkin; National Symphony Orchestra)
February 28, 1994... Leonard Slatkin, the departing conductor of the St. Louis Symphony Orchestra, may end up waving his baton in front of the National Symphony Orchestra in Washington, D.C., sources said. The move to Washington depends on whether musicians and...

Clark Properties, Sansone bid for Alton site; development to cost up to $50 million. (Sansone Group; Alton, Illinois)
February 28, 1994... Clark Properties and the Sansone Group are working to acquire the closed Owens-Illinois glass plant in Alton to redevelop into a retail and light-industrial center. A complete development with industrial, commercial and retail users would be...

Business good at Kassly Mortuary. (Interview)
February 28, 1994... Joe, Jim and Charlie Kassly have learned to deal with the jokes, the curiosity and bewilderment they encounter when they discuss their business. As co-owners of Kassly Mortuary in Fairview Heights, the brothers provide a vital service to the...

Glennon puts bone marrow transplants on table. (Cardinal Glennon Children's Hospital)
February 28, 1994... Cardinal Glennon Children's Hospital has lured two oncologists from St. Louis Children's Hospital to launch a bone marrow transplant program at Glennon. Dr. Donna Wall will join Glennon as head of the hospital's bone marrow transplant...

Maverick Tube Corp. (proxy report excerpts) (Company Profile)
February 28, 1994... Gregg Eisenberg President and chief executive Maverick Tube Corp. makes steel tubular products used in new oil and gas wells and line pipe for transporting oil and natural gas. The company has two plants, in Hickman, Ark., and Conroe, Texas....

People to watch. (minority entrepreneurs) (Minority Business)
February 28, 1994... The ingredients for success are pretty much the same, a sampling of entrepreneurs from disadvantaged minorities shows. Each of the seven business people the St. Louis Business Journal talked to exhibited a strong will to succeed. Many also cite...

No. 21: Missouri in middle on minority businesses. (Minority Business)
February 28, 1994... When it comes to rates of minority business ownership nationally, Missouri finds itself in the middle of the pack. Ranked 21st, the Show-Me State is sandwiched somewhere between New Jersey and Nebraska, according to the 1992 Development...

Minority partners scarce at area's largest law firms; black attorney's find success through specialization. (Minority Business)
February 28, 1994... Charles Saulsberry was just out of Northwestern University School of Law in 1982 and working at his first job at a Chicago law firm when he noticed he was receiving less than his share of the plum legal work. "I was receiving few of the...

Lending a hand; new programs aimed at helping minority businesses secure loans. (Minority Business)
February 28, 1994... Evelyn Branch is a small-business success story. But despite her success -- and numerous special lending programs -- Branch can't get the capital she wants to expand her business. Branch is president of Branch Building Maintenance, a...

Some minority contractors happy; some very angry. (Minority Business)
February 28, 1994... Ask three minority contractors about the status of minority firms in St. Louis and you'll get three different answers. "I was doing a lot better 10 years ago than I'm doing now in the local area," said Wilber Stewart, president of Centrex...

Businesses find getting contracts difficult process. (Minority Business)
February 28, 1994... It may not be easy, but obtaining state government contracts can be a gold mine for minority-owned businesses. Getting those contracts, though, can be frustrating, one Missouri official said. "Most of the vendors find it's just too difficult...

Hispanic Chamber provides networking, opportunities. (Hispanic Chamber of Commerce of Metropolitan St, Louis) (Minority Business)
February 28, 1994... Sharing information and opportunities, the Hispanic Chamber of Commerce of Metropolitan St. Louis has attracted a wide variety of businesses and professionals who focus on developing Hispanic business interests. Made up of professionals such...

Minority firms finding niche in health care field. (Minority Business)
February 28, 1994... The health-care industry offers good opportunities to minority entrepreneurs, but they say hard work is still the key to success. Reginald V. Maclin, 28, owner of Regimed Medical Inc. decided to start his own medical equipment and supply firm...

Expo gives blacks chance to reinvest in community. (Missouri Black Expo) (Minority Business)
February 28, 1994... The third annual Missouri Black Expo, designed to promote economic development in the black community, will be held Aug. 19-21 at the Cervantes Convention Center. The black community, as a group, does not own enough property or enough...

Family recipe stirs success for tea cake entrepreneur. (Elena Carlisle-Mays) (Minority Business)
February 28, 1994... Aunt Lena's Southern tea cakes bills itself as "the first tea cake company in the state of Missouri." "A lot of people do tea cakes," said owner Beth Hunter recently, "but I'm the first one who made a business out of it." Hunter's...

BJC Health courts Missouri Baptist; merger would give hospital system foothold in lucrative west county. (BJC Health System; Missouri Baptist Healthcare System)
February 21, 1994... Merger at a glance Missouri Baptist was set to vote on merging with BJC Health System Feb. 18. BARNES JEWISH + MISSOURI = COMBINED CHRISTIAN ...

Spirit hopes to woo planes with tax cut; 40 aircraft fled to Parks since flood. (Spirit of St. Louis Airport in Chesterfield; St. Louis Downtown-Parks Airport in Cahokia)
February 21, 1994... A proposal to change the way Missouri taxes corporate airplanes could help Spirit of St. Louis Airport in Chesterfield stop the exodus of aircraft to Illinois. Since last summer's flood deluged Spirit, companies have moved between 40 and 50...

Clinton close to agreement on transferring stadium lease. (Jerry Clinton)
February 21, 1994... Jerry Clinton, leader of one of the groups that failed to lure a National Football League franchise here, is expected within days to agree to transfer the domed-stadium lease to a nonprofit group. The majority stake in the lease is held by...

Friendship costs Equitable, Turley lease for TWA's new headquarters. (Equitable Building; Turley Martin; Trans World Airlines Inc.)
February 21, 1994... Trans World Airlines' selection of One City Centre over the Equitable Building for its headquarters site turned on friendship. As a result, Turley Martin and real estate broker Terry McCaffery lost out on an estimated $70,000 commission....

Argosy bets on new marketing director. (Argosy Gaming Co.; Bill England)
February 21, 1994... Argosy Gaming Co., the parent firm of the Alton Belle riverboat, is gambling on a new marketing director and a new advertising agency to oversee its estimated $4 million annual promotion budget. Bill England joined Argosy last month as vice...

Insurers: Carnahan plan contains stealth tax; medical groups would pay $300 million to help fund reform effort. (Missouri Governor Mel Carnahan) (Economic Development)
February 21, 1994... Gov. Mel Carnahan's health-care reform proposal requires medical provider groups to pay 3 percent of their gross receipts to a quasi-governmental agency to help fund the plan. Despite the governor's promise that the legislation wouldn't...

Emerson Electric Co. (Proxy Report Excerpts) (Company Profile)
February 21, 1994... Charles Knight Chairman and chief executive Emerson Electric manufactures a broad range of electric and electronic products for consumer, commercial and industrial markets. Its products include process control equipment, motors, industrial...

All signs point to strong economic development. (St. Louis, Missouri)
February 21, 1994... Greg Smith is looking to tie together Midtown research hospitals and the Missouri Botanical Garden complex to create a technological community. Meanwhile, Larry Bushong is pushing a proposed $30 million commuter transportation hub. And on...

Transportation, gambling keys to growth in Illinois.
February 21, 1994... Southwestern Illinois saw a flurry of economic development activity in the past year, with the debut of light rail, riverboat gaming and a $118 million bridge sharing the spotlight. "Things have really started to gel this year," said Jim...

$250 million courthouse next downtown project. (St. Louis, Missouri) (Economic Development)
February 21, 1994... TABULAR DATA OMITTED A flurry of development downtown this year will be highlighted by the start of construction on a $250 million federal courthouse and an unusual transportation hub. Fourteen projects were completed or under way downtown...

Technological community envisioned by task force. (Economic Development)
February 21, 1994... If Mayor Freeman Bosley Jr. follows a task force recommendation, Midtown St. Louis could become a mini-Research Triangle. Biomedical Technopolis, first suggested in the late 1980s and reborn recently by an economic development task force,...

Tasting success: culinary fest, Parties in the Park help Clayton showcase business district. (Taste of Clayton and Parties in the Park; Clayton, Missouri) (Economic Development)
February 21, 1994... Economic development was probably about the last thing on the minds of hungry Taste of Clayton attendees last summer who flocked to Shaw Park to sample some of the many culinary specialties of Clayton restaurants. But after thousands sipped,...

Clayton bonds will fund street, park improvements. (Clayton, Missouri) (Economic Development)
February 21, 1994... Some time later this year, Forsyth Boulevard's sidewalks are scheduled for a face-lift. At the same time, that stretch of one of Clayton's main drags will see more trees. And, with any luck, those nasty old playground gyms and swing sets at...

Moratorium draws protests from Chamber, developers. (Clayton Chamber of Commerce) (Economic Development)
February 21, 1994... Clayton business interests are decrying a six-month moratorium on development at selected sites throughout the city. But city planners are standing firm. Officials say they need time to evaluate a long-term master plan for Clayton's...

Brentwood cuts red tape in effort to lure business. (Brentwood, Missouri) (Economic Development)
February 21, 1994... When Mark Kurtz was elected mayor of Brentwood in April, he promised voters to spur economic redevelopment and find a solution to the costly, chronic flooding of Deer and Black creeks. To entice new business, the city has streamlined its...

Maryland Heights firms seek road improvements; businesses pleased with conditions overall, city's economic development survey finds. (Maryland Heights, Missouri) (Economic Development)
February 21, 1994... Improving roads, highways and traffic flow is uppermost in the minds of business owners, according to a study of business conditions in the city of Maryland Heights. The study was commissioned by the economic development committee of the...

Council, Chamber to work on Creve Coeur, finances. (Creve Coeur, Missouri) (Economic Development)
February 21, 1994... Creve Coeur's proposed plan to increase business license fees that has strained the relationship between the city and its Chamber of Commerce, may be heading for a peaceful settlement. At its Feb. 14 meeting, the city council agreed to work...

Olivette seeks developer for $2.4 million TIF project. (Olivette, Missouri; tax increment financing) (Economic Development)
February 21, 1994... At a time when the financial belt seems to be tightening everywhere else, the city of Olivette is looking for a taker of up to $2.4 million in development incentives. Olivette was left searching for a developer of a six-acre site at Old...

Levee repairs forge new city-business partnership; Chesterfield pledges to upgrade flood protection. (Chesterfield, Missouri) (Economic Development)
February 21, 1994... The breach in the Monarch levee has been repaired, businesses are moving back in and Chesterfield Valley is taking steps to ensure there won't be a repeat of the Flood of '93. The city of Chesterfield has entered into a partnership with the...

Economic efforts pay off for Francis Howell district. (Missouri's school district) (Economic Development)
February 21, 1994... Mollenkamp lures new development, helps school system expand surrounding tax base Among Missouri's school districts, Francis Howell is unique: It's the only one with an economic development department. "The objective of this office is to...

Webster blends small town with thriving businesses. (Webster Groves, Missouri) (Economic Development)
February 21, 1994... Nestled between two main interstates, Webster Groves is an island unto itself -- a seemingly impossible mix of old neighborhoods jutting up against a thriving business community. Known in the metropolitan area as the place to go for good...

Fenton plans renovation of historic Navajo Hotel. (Fenton, Missouri) (Economic Development)
February 21, 1994... Redevelopment of Fenton's original eight blocks may include a bed and breakfast, new street signs, landscaping and lengthening of a biking and hiking trail along the Meramec River. Fenton's redevelopment effort in its Old Towne district...

Population, business booms strike St. Charles County; new roundtable coordinates marketing push. (St. Charles County, Missouri) (Economic Development)
February 21, 1994... Growth continues in St. Charles County. The most recent estimates show the county population has increased another 10 percent since the 1990 census, bringing the current figure to approximately 234,000. The county is luring not only...

New sales tax plan means big bucks for some cities. (St. Louis County, Missouri) (Economic Development)
February 21, 1994... The argument was simple. If people from all areas in St. Louis County were spending their hard-earned dollars shopping in places like Clayton, the Galleria or Town and Country, why shouldn't they receive some of the benefits from the sales...

Ex-Cencom officials make cable buy: Charter spending about $200 million for 10 systems. (Cencom Cable Television Inc.; Charter Communications Inc.)
February 14, 1994... Charter Communications is spending nearly $200 million to acquire 10 cable television systems in Louisiana, Georgia and Alabama. The acquisition is the first for privately held Charter, which was formed in January 1993 by three former...

Chesterfield chases Prudential jobs. (Chesterfield, Missouri; Prudential Home Mortgage Company Inc.)
February 14, 1994... Chesterfield has fired the first shot in the three-state battle for the permanent site of Prudential Home Mortgage Co.'s regional loan-processing office. Chesterfield's bid for 1,500 to 2,000 Prudential Mortgage jobs includes a plan to...

Crown Optical eyes expansion outside area; Julian Edison among company's investors. (Crown Optical Stores)
February 14, 1994... When Charles "Matt" Matthews was considering investing in Alton-based Crown Optical three years ago, he went to visit the company's only store. There he found customers waiting in a line that wound around the front of the building. "I...

Ralcorp strategy: Pearce will copy baby food formula. (Ralcorp Holdings; Richard Pearce)
February 14, 1994... Rick Pearce's recipe for success at newly formed Ralcorp Holdings will take a page from his turnaround formula for the company's baby food operations. By slashing costs, including shuttering a California plant in 1992, launching a direct...

Anheuser-Busch: Sharbaugh's exit follows other top marketing execs. (Anheuser-Busch Companies Inc.; Tom Sharbaugh)
February 14, 1994... Tom Sharbaugh, formerly the top beer marketing executive at Anheuser-Busch Cos. Inc., is the third senior marketing executive lured away from the giant brewer in the past 18 months. Sharbaugh, 49, is leaving to take a senior marketing...

Zoo-Museum District officials seek to amend Ribaudo bill. (Anthony D. Ribaudo)
February 14, 1994... Zoo-Museum District officials are seeking amendments that weaken key provisions of proposed state legislation overhauling the governance of taxpayer-financed cultural institutions. If passed as written, Zoo-Museum officials contend the new...

Women invade Wall Street, looking for greater returns.
February 14, 1994... Virginia Campbell got divorced in the mid-1980s and took financial matters into her own hands. Wanda Dobson found herself with career and cash on hand in 1987 and joined a women's investment club. Dobson and Campbell are among a burgeoning...

Medicine Shoppe pushes ahead into foreign markets; pharmacies targeted for Latin America, Pacific Rim. (Medicine Shoppe International Inc.)
February 14, 1994... Medicine Shoppe International Inc. is trying to make strong financial medicine this year with possible franchise expansions in Latin America and the Pacific Rim. The company is also pushing ahead with its planned expansion into supermarkets...

Spring fever; area travel agencies hit home runs with trips to see Cards in Florida. (St. Louis Cardinals) (Business Meetings and Travel)
February 14, 1994... Local travel agencies are catching spring fever. In less than four weeks, thousands of St. Louisans will begin sliding into St. Petersburg, Fla., for Cardinals' spring training. Local travel agents such as Joe Hoerner of Cardinal Travel and...

America's Center opens new doors for conventions; bookings up to 20% this year, SLCVC officials say. (St. Louis Convention and Visitors Commission) (Business Meetings and Travel)
February 14, 1994... A city's ability to bring conventions, trade shows and meetings to its front doors is often a measure of its economic well-being. While the formula for success varies, it usually includes competitive costs, accessibility, ample convention...

Meal deduction limits leave bad taste for restaurants. (Business Meetings and Travel)
February 14, 1994... In the last 60 days, Larry Thompson has heard a dozen members at the Missouri Athletic Club explain they are dropping their membership because they can no longer write off their $1,200-a-year dues as a business expense. "That's a minimal...

More than a meeting; from Egypt to Old West, companies use games and props to spice up get-togethers. (Holloran Productions) (Business Meetings and Travel)
February 14, 1994... Play golf over the Nile River. Drag race down old Route 66 -- winner keeps the car. All you have to do is become one of the star employees at work. Top employees and important clients have all the fun when the boss throws a big meeting,...

KTVI ripe for cost cuts under Argyle; leaner crew, tighter ship to boost profit. (Argyle Television Operations Inc.)
February 7, 1994... Seven months after being acquired by debt-laden Argyle Television Operations Inc., KTVI, Channel 2, is focusing on boosting its profit picture. Staff reductions, programming changes -- including perhaps more news -- and a keener eye on use...

Sachs project sign of building thaw: $20 million plan first speculative offices in '90s. (Sachs Properties Inc.)
February 7, 1994... Sachs Properties seeks to go where no local developer has dared tread this decade -- the speculative office building market. The company plans to construct one or more multi-tenant office buildings in its Chesterfield Village development in...

Casino delay plays into hands of Illinois boats.
February 7, 1994... Problems with Missouri's riverboat gambling law have dealt a better hand to the Alton Belle and the Casino Queen -- at least in the short run. "If this thing (a new gambling law) doesn't go through until after this summer, the Illinois boats...

Helping scientists crack genetic code lifts Genome. (Genome Systems Inc.)
February 7, 1994... About a year ago, Paul Gold and David Smoller considered throwing in the towel. Their biotechnology company, Genome Systems Inc., was only getting a few orders a month to analyze genetic material from mice and fruit flies. But then the two...

Zoltek Companies Inc. (Proxy Report Excerpts) (Company Profile)
February 7, 1994... Zsolt Rumy Chairman, president and chief executive Zoltek has two divisions that develop, manufacture and market advanced materials and industrial products for niche markets. Zoltek reported a profit of $567,000, or 19 cents a share, on sales...