St. Louis Business Journal articles from January 1995

St. Louis Business Journal archives from January 1995

TWA's year-end cash estimate falls by 24%. (Trans World Airlines Inc.)
January 2, 1995... Trans World Airlines Inc.'s latest reorganization plan projects cash on hand of $97.1 million as of Dec. 31 - nearly $31 million, or 24%, lower than a company estimate in November. TWA submitted the latest plan to federal securities regulators...

Bridge Holding up for sale. (Bridge Holding Co.)
January 2, 1995... Brokerage's owners want to cash out; IPO possible Bridge Holding Co. is entertaining purchase offers from about 20 potential suitors with a sale possible in the next few months. Bridge enlisted the help of Baltimore investment banking firm...

Labarge Inc. (Proxy Report Excerpts) (Company Profile)
January 2, 1995... Craig LaBarge President and chief executive officer LaBarge Inc. engineers and manufactures electronic systems and interconnect assemblies for medical, computer, commercial aerospace and defense electronics markets. The company also makes...

Zoltek reaps benefits from moving to research park. (Zoltek Companies Inc.; Missouri Research Park)
January 2, 1995... As the first corporate tenant of the Missouri Research Park, Zoltek Corp. got in when the getting was good. Though the Missouri Legislature appropriated funds for the research park in 1986, it wasn't until 1990 that Zoltek moved its...

Council sees funds for only 3 road projects. (East-West Gateway Coordinating Council)
January 9, 1995... East-West Gateway weighs fallout from $4 billion shortfall in state plan In the best of three scenarios, the Missouri Highway and Transportation Department will have sufficient funds to pay for only three of the 24 largest road projects slated...

Dismay over pay, recruiting led to Kaplan exit. (Lawrence Kaplan resigns as partner of Suelthaus & Kaplan)
January 9, 1995... Lawrence Kaplan grew increasingly disenchanted over the last year with Suelthaus & Kaplan's inability to attract either new senior attorneys or a merger partner, say people familiar with the law firm. In addition, Kaplan was said to be unhappy...

Bank of Alton Chairman Utterback booted by FDIC. (Paul Utterback)
January 9, 1995... Government regulators forced the chairman of the Bank of Alton to end his 40-year banking career after charging him with improper banking practices. The Federal Deposit Insurance Corp. in late November ordered Bank of Alton Chairman Paul...

Charter to add 70 jobs locally. (Charter Communications Inc.)
January 9, 1995... Charter Communications is adding about 70 new jobs, mostly in higher-paying middle management, as the cable television company establishes its headquarters here. Crown Cable, which Charter is buying for $900 million, moved its headquarters to...

Peso's plunge benefits, worries area firms. (devaluation of Mexican peso; St. Louis, Missouri)
January 9, 1995... The devaluation of the Mexican peso - which has dropped more than a third against the American dollar since Dec. 20 - will provide some local companies with enormous cost advantages, while hurting others. Those who produce their goods in...

Roberts hopes Lady Luck's fortune smiles upon him. (Steve Roberts, one of the principal investors of Lady Luck Kimmswick)
January 9, 1995... As St. Louis businessman Steve Roberts stands in the thick of a rain-soaked patch of Jefferson County forest overlooking the Mississippi River, a tugboat chugs past. Roberts smiles. "A boat going up the river is a beautiful sight, isn't...

Turley losing $300,000-$400,000 in Met Square business. (Turley Martin Co.)
January 9, 1995... For Turley Martin Co., the Metropolitan Square Building offered the Clayton real estate firm a steady stream of revenue and 1 million square feet of prestige. Since the building's completion in 1989, Turley Martin - St. Louis' largest real...

Association boosts merits of towns on I-70 corridor. (I-70 Growth Association)
January 9, 1995... Community officials in towns dotting the I-70 landscape in southwestern Illinois are counting on the I-70 Growth Association to help attract major developers to their towns in 1995. The I-70 Growth Association serves as a "chamber of commerce"...

Missouri cuts working poor from Medicaid proposal.
January 9, 1995... Proposed coverage for uninsured working-poor adults has been amputated from Missouri Medicaid plans because Republican Congress members are threatening to cut Medicaid funds, state officials say. "A lot of the hopes that many of us had were...

Shapleigh forged enduring St. Louis hardware business. (Norvell-Shapleigh Hardware Co.) (Column)
January 9, 1995... The 1910 catalog from the Norvell-Shapleigh Hardware Co. features pictures and prices for hundreds of pieces of hardware - from clamps and vises to trowels and push plates, from hasps and ratchet braces to gimlets and carpenter's aprons. A...

When words fail. (Common Sense Communications) (Column)
January 9, 1995... If any of the readers of this column are fed up because I constantly repeat that words (not just the meanings of words) are the most important tool we have, I wouldn't blame them one bit. But neither can any of us escape the results of...

Stop worrying about 'the plan' and do something. (On Excellence) (Column)
January 9, 1995... Most grand strategies flop. Most big "change programs" fizzle. Why? We worry too much about the plan - and not enough about implementation. Looking back on 35 or so years of being managed, managing and observing organizations, I offer a few of...

New players can help enlarge the local economic pie. (hospitality industry) (St. Louis Hospitality) (Column)
January 9, 1995... Let's talk about pie. Since the holidays are over, we can set aside pumpkin and apple and focus on the economic variety. With a difficult campaign to approve full gaming on the riverfront successfully completed and a new year upon us, it's...

Curtain call; industry stars give great performance. (Award-Winning St. Louisians)
January 9, 1995... ADVERTISING Recipients: Brian Creath, Frank Oros Ages: 32 and 41, respectively Title: President and senior copy writer, respectively Business: Brian Creath & Partners Several months after CreathJacobsen Advertising won two "Best of Show"...

Ramming home the deal: Civic Progress backs $13 million in boxes, seats. (Civic progress Inc.'s deal with Los Angeles Rams)
January 23, 1995... A conference call among influential members of Civic Progress helped cinch the Los Angeles Rams move to St. Louis. During the Jan. 12 telephone meeting, Civic Progress members ironed out the important final details of their payment guarantees...

Schnuck's pursuit of National first began several years ago. (Schnuck Markets Inc.; National Supermarkets Inc.)
January 23, 1995... The Schnuck family tried to buy National Super Markets, its major competitor, several years ago. The talks never went anywhere, said Craig Schnuck, the 46-year-old chairman and chief executive of Schnuck Markets Inc. But with Wal-Mart and...

Rams' lower payroll leaves room to pursue good players. (Los Angeles Rams football club)
January 23, 1995... With a cash infusion from St. Louis interests and room under the projected 1995 NFL salary cap, the Rams can afford to chase better talent, sports analysts said. The Los Angeles Rams have been cautious in their spending. They spent $33.7...

Bank consultant Backeus leads drive for new O'Fallon bank. (Norman Backeus; O'Fallon, Illinois; Mid-America Bank of St. Clair County)
January 23, 1995... The new Mid-America Airport and a growing demand for community banks is the impetus for a new bank being planned for the O'Fallon, Ill., area. A group of Metro East businessmen plans to open Mid-America Bank of St. Clair County in the fall....

Home grown: Mirowitz brothers build mortgage business. (Delmar Financial Co. Chairman Saul Mirowitz and President Carl Mirowitz) (Company Profile)
January 23, 1995... Delmar Financial Co. 1030 Woodcrest Terrace Drive St. Louis, Mo. 63141 Business activity: Full-service mortgage banker, with about 50% FHA/VA loans and 50% conventional home loans. In 1993, its best year, Delmar issued $350 million in loans....

Ralcorp Holdings Inc. (Proxy Report Excerpts) (Company Profile)
January 23, 1995... The company is a major producer of ready-to-eat hot breakfast cereals, snacks, baby food, cookies and crackers, and is one of the largest operators of ski resorts in the United States. The company recorded a profit of $43 million, or $1.28 a...

Unity Health preps for fight minus top dogs. (Unity Health Network)
January 30, 1995... Failure to shave costs plays role in Farrell, Wunderlich departures On the eve of what promises be a major battle with rival BJC Health System, two Unity Health Network hospitals are without their longtime generals. St. Luke's Hospital...

Zipatoni takes cue from Tom Hanks. (Zipatoni Co.)
January 30, 1995... Kids interview kids in product research In the movie "Big," a young boy finds himself in Tom Hanks' body. He goes to work for a toy company and tells his bosses what he thinks of the new toys. Zipatoni Co., a St. Louis sales-promotion firm,...

Glennon nabs $20 million beer account. (Glennon Cos.)
January 30, 1995... Anheuser-Busch Cos. is consolidating its Michelob beer advertising at The Glennon Cos. The creative assignment brings an account, worth more than $20 million in billings last year, to one of St. Louis' larger advertising agencies. Glennon has...

2 Kempers secure top posts at UMB. (UMB Financial; Alexander Kemper and Crosby Kemper III)
January 30, 1995... The Kemper family tightened its hold on UMB Financial this week with the promotion of Chairman Crosby Kemper Jr.'s two sons to top executive positions. Alexander "Sandy" Kemper, 29, was named president of UMB Financial, the $6.6 billion in...

Edison's slump prompts talk about dividend cut. (Edison Brothers Stores Inc.)
January 30, 1995... Major institutions dumped large blocks of Edison Brothers Stores Inc. stock a week ago following surprising news that its two top executives will step down this spring. The selling sent Edison's shares down 11.5% Jan. 20. But fortunes at the...

Highway Commission plans to reduce budget shortfall. (Missouri Highway and Transportation Commission)
January 30, 1995... Officials on the Missouri Highway and Transportation Commission say they're formulating a plan to help reduce a potential $4.2 billion shortfall in the commission's 15-year budget. Among the options being considered are: forcing the Highway and...

Anchor Packaging recruits Dixie manager for CEO post. (Dennis Nemura; James River Corp. Dixie div.)
January 30, 1995... Anchor Packaging has a new captain. Dennis Nemura was named president and chief executive of Anchor, a Fenton-based company that annually sells more than $100 million worth of plastic food containers, plastic wrap, aluminum foil and microwave...

Rams gain restaurant, hold sway over Bommarito pact. (St. Louis Rams)
January 30, 1995... The St. Louis Rams will get a restaurant at the domed stadium as part of their deal to come to St. Louis. The restaurant, to be open year-round, is one of the many items outlined in four attachments to the Rams' 37-page lease on the stadium....

Ralston Purina Co. (Proxy Report Excerpts) (Company Profile)
January 30, 1995... William Stiritz Chairman, president and chief executive The company makes pet foods, batteries and protein products. Ralston Purina Group, which comprises its main line of business, posted a pro forma profit of $266.4 million, or $2.48 a share,...

Retailers paying more for space in crowded market.
January 30, 1995... Retailers shopping for space at area malls and strip centers aren't finding many vacancies. And, in some cases, that's driving up retail leasing rates, real estate experts say. But the demand for space is not leading to new development. Rather,...

Upscale hotels benefiting from more business travel.
January 30, 1995... Hotels in city post highest gains Occupancy rates for St. Louis-area hotels increased slightly last year over 1993, an analyst's report shows. Hotels posted occupancy gains between 1.5% and 3.9% from January to November last year compared...