St. Louis Business Journal articles from July 1995

St. Louis Business Journal archives from July 1995

Lambert leans west for airport expansion. (Lambert-St. Louis International Airport)
July 3, 1995... Sources familiar with expansion plans for Lambert-St. Louis International Airport say officials are leaning toward a westward plan that would eliminate 1,500 homes and 70 businesses in St. Ann, Edmundson, Woodson Terrace and Bridgeton....

Incarnate Word, Deaconess near partnership. (Incarnate Word Hospital; Deaconess Health Services Corp.)
July 3, 1995... An alliance is in the works between Deaconess Health Services Corp. and Incarnate Word Hospital. The hospitals have been negotiating terms for a merger or partnership for several months and are close to formalizing an agreement, according to...

Hayden sales plummet; 17 lose jobs. (Hayden Home Inc.)
July 3, 1995... For Hayden Homes Inc., the road leading to further development has turned into a cul-de-sac. One of the 10 largest home builders in the St. Louis metropolitan area, Hayden Homes is having a problem finding quality lots to develop. As a result,...

Bussmann speeds up its marketing with race car. (Bussmann Corp.'s race car sponsorship)
July 3, 1995... Bussmann Corp. has a new advertising vehicle, literally. The company is fueling its fuse promotions by pouring millions into a race car sponsorship - a promotional program that has been driving sales to double company projections. Bussmann,...

Fox, Harbour Group net $40 million from Flair sale. (Sam Fox; Flair Corp.)
July 3, 1995... Sam Fox and Harbour Group have again shown their flair for making money. Harbour Group and Fox, the company's chief executive, received more than $40 million by selling their stock in Flair Corp. to a Canadian company. Flair is based in...

Pedaling away: 78-year-old entrepreneur cruises high-tech trail. (Eidelman Group Ltd. founder and President Harry Eidelman)(Emerging Companies)(Company Profile)
July 3, 1995... The Eidelman Group Ltd. Pacesetter Electronics Commercial Electronics 3851 Washington Ave. St. Louis, Mo. 63108 Business Activity: The Eidelman Group's Pacesetter Electronics and Commercial Electronics divisions manufacture satellite receivers...

Falcon Products Inc. (Proxy Report Excerpts)(Company Profile)
July 3, 1995... Franklin A. Jacobs Chairman, president and chief executive officer Falcon Products Inc. is a designer, manufacturer and marketer of furniture for the hospitality, foodservice, health care and office furnishings markets nationally and...

How high can bank stock prices go?
July 17, 1995... Boatmen's, Merc may climb, but pitfalls exist Merger mania is driving most St. Louis bank stocks to lofty levels. But for investors the question is whether there's still time to join the party. "Everyone, including the shoeshine boy, has a...

Gephardt vows retaliation if British deny TWA route. (Rep. Richard Gephardt; Trans World Airlines Inc.)
July 17, 1995... U.S. Rep. Richard Gephardt is preparing a return salvo in anticipation of a battle with Britain over Trans World Airlines Inc.'s bid for greater access to London. If the British deny TWA access to London: from New York, Gephardt said he plans...

Hogan's star ascends at General American Life. (Cova Corp. CEO and Pres. Michael Hogan)
July 17, 1995... Goal: Take Cova public in 5 years Michael Hogan, a rising star at General American, has been named chairman, president and chief executive of Cova Corp. Cova, a newly formed subsidiary of General American Life Insurance Co. with $7 billion...

Midland plots $36 million retail center. (Midland Development Group Inc.)
July 17, 1995... A St. Louis real estate development company is planning a $36.5 million retail center just east of Mid Rivers Mall in St. Peters. The Midland Group plans to attract several national retail stores to its development called Mid Rivers Center. The...

Duke realty gobbles up 90 acres in Earth City. (Duke Realty Investments Inc.; St. Louis, Missouri)
July 17, 1995... An Indianapolis company is displaying a large appetite for St. Louis real estate. Duke Realty Investments recently paid more than $6 million for 90 acres of land in Earth City. Within the next 45 days, the company plans to buy an additional 15...

Shatter-proof glass cracks new markets. (Monsanto Co.'s Saflex Laminated Glass)
July 17, 1995... A laminated, shatter-proof glass developed by Monsanto more than 50 years ago is finding new popularity as insurance companies search for ways to reduce the cost of crime and natural disasters. Because it's more expensive than regular glass,...

Loose credit threatens bank profits down road. (St. Louis, Missouri)
July 17, 1995... [TABULAR DATA OMITTED] So far, 1995 has been a good year for area banks. But industry experts warn that bank executives should be vigilant - the good times won't last forever. In the first quarter, every bank in the St. Louis area turned a...

Burgers, brats and beer: Fast Eddie's 'little old bar' racks up $3 million in sales. (Fast Eddie's Bon Air bar)
July 17, 1995... Eddie Sholar is no stranger to failure. He would be the first to admit that. "I must have failed maybe four or five times with taverns and restaurants before this one," he said. This one - Fast Eddie's Bon Air - is certainly no failure,...

Insurer ticking time bomb, critics charge. (Missouri Employers Mutual Insurance Co.)
July 24, 1995... State waiver on reserve levels lets workers' comp firm sprout rapidly A fast-growing insurance company created last year by Missouri lawmakers to cut workers' compensation costs is technically insolvent and has little cash to cover...

China stepping stone for HOK overseas. (Hellmuth, Obata and Kassabaum Inc.)
July 24, 1995... Conquered by the British in 1842, Shanghai served as a haven for European and American interests in the last half of the 19th century; a glittering enclave of trading houses, cabarets, ballrooms and private clubs from which the Chinese were...

Frontenac in lead for Nordstrom. (Plaza Frontenac, St. Louis, Missouri)
July 24, 1995... Nordstrom is leaning toward locating its first area store in Plaza Frontenac, say people in the retail and real estate business. "The drawings are done, the architecture is done, and the deal is being negotiated. The dollars are still being...

Brilliant, Zimring feud takes a twist. (real estate developers Sidney Brilliant and Morrie and Shirley Zimring)
July 24, 1995... The feud between a St. Louis County couple and real estate developer Sidney Brilliant has produced more charges of skulduggery over plans to build luxury condominiums in downtown Clayton. Morrie and Shirley Zimring recently spent $2.34 million...

Bank comes up 1 1/2 holes short of a course at North Port resort. (Great Southern Savings and Loan)
July 24, 1995... A mistake in a land survey potentially threatens the ability of golfers to play through at the Arnold Palmer course at the Lake of the Ozarks. Great Southern Savings and Loan of Springfield, Mo., foreclosed on the 18-hole championship course...

Civic Progress brings in guru to help nonprofits make a buck. (consortium of St. Louis businesses)
July 24, 1995... Civic Progress, the consortium of St. Louis' largest businesses, is shelling out $85,000 initially to help 20 area nonprofit organizations learn to act more like businesses. Spurred by David Kemper, chief executive of Commerce Bank, Civic...

City drops $3.5 million TIF proposal for Marketplace. (tax increment financing)
July 24, 1995... Stiff opposition from the local alderman has put the kibosh on a request from the Midland Group for additional taxpayer assistance for its St. Louis Marketplace shopping center. After months of financial analysis of the $53 million discount...

Bridge, spurring development top leadership agenda. (St. Louis, Missouri)
July 24, 1995... For the Leadership Council Southwestern Illinois, saving both Scott Air Force Base and the Charles Melvin Price Support Center from the Defense Department's slate of base closures was a major coup. But there's more work to be done, said the...

Kohner jumps into apartment syndication business. (Kohner Realty Inc.)
July 24, 1995... A new arm of Clayton's Kohner Properties Inc. plans to bring syndication investment back to the St. Louis real estate scene. Called Kohner Realty Inc., the company will specialize in multifamily housing investment and brokerage. Jeffrey T....

Schmitt revs classic car sales to near $5 million. (Daniel Schmitt and Co.)
July 24, 1995... Busch, Wetterau clans use Classic Car Gallery Daniel Schmitt & Co. Classic Car Gallery 3455 N. Lindbergh Blvd. Bridgeton, Mo. 63074 Business Activity: Daniel Schmitt & Co. buys and sells classic and antique cars from the company's North...

Gabelli takes stake in Pulitzer Publishing. (New York investor Mario Gabelli; Pulitzer Publishing Co.)
July 31, 1995... Investor captures 7.8% of shares New York investor Mario Gabelli thinks the price of Pulitzer Publishing Co. stock is a bargain. So much that a Gabelli-led investment group has spent nearly $15 million buying Pulitzer's common stock during...

Denny Bond paid $79,000 after exiting. (former Olympic Festival '94 executive director)
July 31, 1995... Denny Bond received more than $79,000 last year in compensation from the U.S. Olympic Festival '94 despite resigning from his job in December 1993. Bond was ousted as executive director of the festival when organizers shuffled the top brass...

Bonhomme Place latest building to change hands. (St. Louis, Missouri)
July 31, 1995... If you want to buy a St. Louis office building these days, don't bother unless you can pay cash. During the past year, pension fund advisers and other real estate investment groups have snatched up some of St. Louis' most coveted office...

Home builders find lure in Edwardsville. (Missouri)
July 31, 1995... Building permits up 68% from 1991-94 Once a tiny and sleepy college town, Edwardsville/Glen Carbon is becoming the promised land for major home builders and real estate agents. In the past four years, building permits are up 68%. The city's...

Crancer, Hermann sue money manager Reik. (businessmen Lester Crancer, Jr. and Robert Hermann; William Reik, Jr.)
July 31, 1995... Businessmen Lester Crancer Jr. and Robert Hermann are among the latest to join in suing a New York money manager accused of wiping out Sen. Christopher Bond's $1.3 million blind trust. Crancer is former chairman of Valley Industries and Hermann...

Arco's success built on partners' differences. (ARCO Construction Company Inc.)
July 31, 1995... Slightly built and analytical, Jeff Cook is the list maker at Arco Construction Co. His partner, Dick Arnoldy, is built like a linebacker and more likely to shoot from the hip. Together, the two men have formed a St. Louis general contracting...

AMC scours west county for 16, 20-screen theater sites. (AMC Entertainment Inc.)
July 31, 1995... Movie theater developers, like movie makers, are finding safety in numbers. Since film makers embarked on Jaws 2, Rocky III and Nightmare on Elm Street Part IV, theater developers have grown from the South Twin, to Ronnie's 8 and recently to...

Builders wary of new suburban office projects. (St. Louis, Missouri)
July 31, 1995... Suburban office buildings are filling up, but a building boom isn't on the horizon, developers and tenants say. Being a pioneer in new office construction can be risky. "It's the pioneers who get the arrows in their backs," joked Bert Solomon,...

Art museum hires consultants to sell plan. (St. Louis Museum of Art, St. Louis, Missouri)
July 31, 1995... The St. Louis Art Museum and a nonprofit corporation organized under its leadership have hired a cadre of powerful legal, political and public relations consultants to help sell its plans to double the size of its facilities in Forest Park....

Madison County takes home 2 of 8 Illinois power plants. (Missouri)
July 31, 1995... Two of eight proposed Illinois power plants that will burn old tires and wood to generate electricity will end up in Madison County. The Illinois Environmental Protection Agency plans to build eight of these plants throughout the state....

Tourism commission to grant contracts without director. (Missouri Tourism Commission; Marjorie Beenders)
July 31, 1995... Despite pleas from print and electronic vendors for more time, the Missouri Tourism Commission will close out contract bids July 31. After questions from potential state contractors, Missouri officials pushed back the due date on a large...

St. Anthony's switches strategy. (St. Anthony's Medical Center in St. Louis, Missouri)
July 31, 1995... Seeks state approval for outpatient surgery center St. Anthony's Medical Center is implementing a new strategy in its ongoing struggle to win state approval for its outpatient surgery center. St. Anthony's has filed a proposal with state...

Mills' group pitches in $23 million in merging wire firms. (businessman James Mills; Wirekraft Industries and Omega Wire Inc.)
July 31, 1995... A group headed by James Mills has spent about $420 million to acquire and merge Wirekraft Industries and Omega Wire Inc. The merger, into newly-formed International Wire Holding Co., creates one of the five-largest wire companies in the United...