St. Louis Business Journal articles from June 2000

St. Louis Business Journal archives from June 2000

A.G. Edwards, Stifel offer flat rate services options.(Brief Article)(Statistical Data Included)
June 5, 2000... A.G. Edwards' clients can more easily make investments, thanks to a new service, Client Choice. The program allows a client to choose the fee structure that is used to pay for the execution of transactions and also provides several other...

Clients turn to their brokerage firms for help with checking account services.(Brief Article)(Statistical Data Included)
June 5, 2000... The long-running bull market has more investors turning their checking accounts over to their brokerage houses. Such accounts have been around for almost two decades -- about as long as banks have been in the brokerage business. But even...

Young Group wins award for international business.(Brief Article)(Statistical Data Included)
June 5, 2000... The Young Group Fabricated Products Division received the first St. Louis Global Excellence award which recognizes the company's commitment to and achievement in international business. Sponsored by Firstar Bank, the award was presented by...

Prudential Alliance opens second St. Charles office.(Brief Article)(Statistical Data Included)
June 5, 2000... Prudential Alliance, Realtors, a residential real estate company, has opened a second St. Charles office. The new office is at 11232 Veterans Memorial Parkway in Lake St. Louis. The new office serves west St. Charles County and surrounding...

Stock options remain a key element of exec pay.(Brief Article)(Statistical Data Included)
June 5, 2000... Stock options are the pot of gold at the end of the New Economy rainbow. These incentives aim to lure talent from the ranks of traditional businesses to riskier technology ventures. Don Hawthorne, chief operating officer at MedCentral,...

Area banks aid customers that make overseas deals.
June 5, 2000... The proliferation of e-commerce, business-to-business services and global trade have spurred St. Louis area banks to help their customers with dealings abroad. Mike Rubey, vice president and regional manager for the global trade services...

Systems Consultants to install financial management system, help arrange new computer purchases for West Virginia city.
June 5, 2000... St. Louis-based Systems Consultants Inc. has signed a contract worth more than $400,000 to install a financial management system for the city of Charleston W.Va. The system will include software from the company's "Envision" series to...

Commerce, SBA team to get small businesses going.
June 5, 2000... A woman whose life had been ravaged by the '93 flood had little choice: Start a new business or struggle to survive. With the help of a Small Business Administration (SBA) loan provided by Commerce Bank, the woman, who wished to stay...

HBE cashes in on boom in building bank branch units.
June 5, 2000... Just a few years ago, the local bank was the natural choice for a loan. However, today, financial institutions are seeing increasing competition from online sites, such as LoanSurfer.com and MortgageBid.com, not to mention companies that...

Renaissance commits to Big Brothers Big Sisters.(Brief Article)(Statistical Data Included)
June 5, 2000... For 86 years, Big Brothers Big Sisters in St. Louis has introduced caring adults to children in need with the hope that the two will hit it off while going to a baseball game, the Zoo or a park. Several week ago, for the first time, the...

Stock Transactions.(Brief Article)(Statistical Data Included)
June 5, 2000... The following purchases or sales of stock in St. Louis-based companies or in companies with St. Louis-based subsidiaries or divisions have been reported to the U.S. Securities and Exchange Commission by officers, directors and owners of more...

Where we stand.(How Missouri and Illinois measure up against other states)(Brief Article)(Statistical Data Included)
June 5, 2000... How Missouri and Illinois measure up against other states Figures released from the U.S. Bureau of Economic Analysis reveal that the total disposable income for Missouri increased by 7.98% during 1996-1998. Disposable income is the personal...

On board.(Money and management at nonprofit organizations)(Brief Article)(Statistical Data Included)
June 5, 2000... Money and management at nonprofit organizations Daughters of Charity National Health System Donald Brennan President and chief executive The Daughters of Charity National Health System was founded in 1986 and sponsored by the...

For what it's worth.(recent commercial real estate transactions in the St. Louis area)(Brief Article)(Statistical Data Included)
June 5, 2000... Highlighting some of the most recent commercial real estate transactions in the St. Louis area. LOCATION: 8631 Delmar in University City DATE SOLD: March 24, 2000 NEW OWNER: Lutheran Family and Children's Services of Missouri ...

Proxy corner.(Brief Article)(Statistical Data Included)
June 5, 2000... Money and management at companies with publicly traded stock YOUNG INNOVATIONS INC. George E. Richmond Chief Executive Young Innovations Inc. manufactures and markets dental instruments and supplies. The company earned a profit of...

St. Louis Stocks.(Illustration)(Statistical Data Included)
June 5, 2000... St. Louis Stocks Close Close Percentage Company Symbol Exchange 5/24/00 5/31/00 change Agribrands International AGX N ...

The Architects of St. Louis Business.(Statistical Data Included)
June 5, 2000... CELEBRATING A DECADE OF ENTREPRENEURIAL SUCCESS In 1990, when Ernst & Young brought its Entrepreneur Of The Year Award program to St. Louis, unemployment was high, e-commerce didn't exist and Avis was trying harder to overtake Hertz. ...

Bi-State Development Agency.(Call-A-Ride van program)(MetroLink service)(Brief Article)(Statistical Data Included)
June 5, 2000... Bi-State Development Agency rolled out a $119 million infrastruture improvement of its bus fleet, Call-A-Ride van program and MetroLink service. The agency is adding 61 buses, 21 vans and 24 rail cars to its operations. Bi-State also said it is...

May Department Stores Co.(Brief Article)
June 5, 2000... Two former employees of a May Department Stores Co. unit filed a lawsuit against the chain retailer, alleging it underpaid workers for overtime hours. The suit, filed in the U.S. District Court in Washington D.C., seeks class action status and...

Hussmann International Inc.(Ingersoll-Rand Co. acquisition)
June 5, 2000... Ingersoll-Rand Co. announced the expiration of a 28-day waiting period relating to its proposed purchase of shares of Hussmann International Inc. This means federal regulators will not review the acquisition of the refrigeration equipment...

Unigraphics Solutions Inc.(Advanced Engineering Solution Co.)(Brief Article)(Statistical Data Included)
June 5, 2000... Unigraphics Solutions Inc. signed a contract with Thai distributor Advanced Engineering Solution Co. to help shift Thai companies from 2-D to 3-D computer-aided design and computer-aided manufacturing technology. St. Louis-based Unigraphics...

Brown Shoe Co. Inc.(Carlos Santana)(Brief Article)
June 5, 2000... Brown Shoe Co. Inc. has signed a licensing agreement with rock musician Carlos Santana to produce a line of men's and women's footwear under the "Carlos" label. A portion of the proceeds from the sale of the Carlos collection will be donated to...

International Wire Group.(Joseph Flamingo)(Brief Article)
June 5, 2000... International Wire Group (IWG) appointed Joseph Flamingo, its president and chief executive since 1996, to chairman. Fiamingo replaces James Mills, who will remain chairman and chief executive of IWG's. holding company. Rodney Kent, head of...

Engineered Support Systems Inc.(Brief Article)(Statistical Data Included)
June 5, 2000... St. Louis-based Engineered Support Systems Inc. announced a $3.8 million order from Swedish Saab Dynamics. AB for participation in the upgrading of Heli-TOW systems on the Danish Army's Fenner anti-tank helicopter. The upgrades and...

Furniture Brands International.(Brief Article)(Statistical Data Included)
June 5, 2000... Furniture Brands International said second-quarter earnings will be 2 to 3 cents a share below current consensus estimates of 63 cents due to weaker incoming orders. Second-quarter earnings last year were 52 cents a share. The company also...

Falcon Products.(Brief Article)(Statistical Data Included)
June 5, 2000... Furniture manufacturer Falcon Products reported net earnings for the second quarter ended April 29 increased to $2.3 million from $2 million in the prior year quarter. Net sales were $79.5 million, up 118.1 percent from $36.5 million in the...

IRS audits Ascension Health's $2 billion bond issue.(Internal Revenue Service)(Brief Article)(Statistical Data Included)
June 5, 2000... St. Louis-based Ascension Health. the largest nonprofit health-care system in the United States, has become one of the early targets of a beefed-up effort by the Internal Revenue Service to make sure debt financings comply with IRS codes. ...

SSM, BJC to spin off home health divisions into free-standing companies.(Brief Article)(Statistical Data Included)
June 5, 2000... At least two area hospital systems are getting set for anew Medicare payment system by turning their home health divisions into free-standing businesses. Starting Oct. 1, Medicare will pay home health-care providers a flat fee per 60-day...

Des Peres Square could be doctored into med center.(Brief Article)(Statistical Data Included)
June 5, 2000... The Des Peres Square Shopping Center at Manchester and Des Peres roads soon may have a new owner and a new look. Don Ferguson, principal of Land Dynamics Inc., has the 11.9-acre site under contract. He intends to transform the...

Mohrman new head of Barnes-Jewish West.(Brief Article)
June 5, 2000... Pat Mohrman is the new president of Barnes-Jewish West County Hospital. Her appointment was announced to hospital staff June 1. Mohrman is the first person to hold the post on a permanent basis since former president Greg Wozniak left the...

Medical People.(Brief Article)(Statistical Data Included)
June 5, 2000... Yiing Lin, a medical and doctoral student at Washington University School of Medicine, was selected by the U.S. Department of Energy (DOE) to spend a week with 66 Nobel prize winners. The DOE is sponsoring 36 American graduate students in...

SigmaAldrich Corp.(Brief Article)(Statistical Data Included)
June 5, 2000... Life sciences company SigmaAldrich Corp. acquired Ark Scientific GmbH Biosystems of Germany, a DNA custom synthesis company with sales of more than $1 million. Financial terms weren't disclosed.

Williams cleans up with Sitex, PSH.(Statistical Data Included)
June 5, 2000... Environmental consulting firms to generate $3 million in revenue this year Business activity: Sitex Environmental Inc. and its division, PSH, are going to practice what they preach--cleaning up old buildings so they can be used. ...

Practical solutions.(Brief Article)(Statistical Data Included)
June 5, 2000... How did you choose an attorney for your business? Word-of-mouth. We knew someone who had used a certain firm and the law firm had a good reputation. Bernard Simington President City Design Group Mike Sprung Owner ...

Anheuser-Busch Cos. Inc.(Brief Article)(Statistical Data Included)
June 5, 2000... May 11, $76.94 UBS Warburg Strong Buy. We are initiating coverage of Anheuser-Busch with a price target of $95. The company is trading at 22.9 times our 2000 earnings-per-share estimate of $3.36, an 8 percent discount to the S&P 500....

D&K Healthcare Resources Inc.(Brief Article)(Statistical Data Included)
June 5, 2000... May 1, $9 Kenny Securities Buy. D&K Healthcare Resources announced third quarter fully diluted earnings per share of 56 cents, 2 cents better than our estimate. We were very impressed to see quarterly sales of $427.2 million, an...

YWCA seeks nominations for female leader awards.(Brief Article)(Statistical Data Included)
June 5, 2000... The Y.W.C.A. of Metropolitan St. Louis is accepting nominations for its annual Special Leader and Racial Justice Awards. Nominees should be female leaders who serve as role, models by demonstrating career excellence and a commitment to the...

Getting from here to there.(Brief Article)(Statistical Data Included)
June 5, 2000... Of the many pressing transportation issues facing the region, the one that is of most concern to the business community is the ability to move employees to and from their jobs. Scott Schnuck, chairman of the RCGA Private Sector...

Live your life.(Brief Article)(Statistical Data Included)
June 5, 2000... More than anyone else, he made me think about living. "Everybody is going to die," he said, "I just know when I'm going to die." Ever since my old pal Bert said. that, it has played over and over in my mind. Those words have come to me...

Toward a more effective city government.(Brief Article)
June 5, 2000... The subject bores many people and threatens others. Some say it can't be done and others that it will take too long. But despite the doubts and the negatives, the reform of the city government is going to happen for one very simple reason: St....

Letter to the editor.(Brief Article)(Statistical Data Included)
June 5, 2000... Advantages of downtown Editor: As a newcomer to St. Louis and a software developer working downtown, I felt compelled to respond to your recent editorial, "Downtown: Gateway to the West suburbs." Working downtown has many advantages....

Reinsurance Group of America Inc.(Brief Article)
June 5, 2000... May 10, $27.44 Banc of America Securities Buy. We initiated coverage of Reinsurance Group of America. with a 12-month price target of $35. We believe favorable life reinsurance industry fundamentals and restoration of earnings growth...

Big rigs.(Brief Article)
June 5, 2000... St. Louisan Rob Rogers, a first-year Stanford University MBA student, took a $10,000 prize for second place in the Stanford Entrepreneurial Challenge--and plans to turn his winning business plan into a company here. The plan --submitted by...

Top of the line.(Brief Article)
June 5, 2000... Five area clubs have been named Year 2000 Platinum Clubs of America, highlighting the top 3 percent of America's private clubs. Bellerive Country Club, Missouri Athletic Club, Old Warson Country Club, St. Louis Club and Westwood Country Club...

Travel elite.(Brief Article)
June 5, 2000... Judy Peil of Private Agenda Africa/Judy Peil Travel is one of 70 top "travel gurus" highlighted in the June issue of Conde Nast Traveler. The magazine cited Peil's expertise in African safaris.

Stores galore.(Brief Article)
June 5, 2000... The Children's Place clothing store and Christopher & Banks casual women's active wear are among the newest tenants at Westfield's South County shopping center. Samuels Jewelers is expected to open a location at the mall.

Lion's Choice to expand, launches first franchises.(Brief Article)
June 5, 2000... Lion's Choice is roaring ahead with expansion plans, as the 33-year-old restaurant chain prepares to open its first franchise operations. Mark Disper likes the restaurant's signature roast beef sandwiches so much that he gave up a job in...

Inflow, Colo.com invest millions in downtown office.(Brief Article)
June 5, 2000... Two competing tech companies are opening St. Louis locations inside the same downtown office building. Denver-based Inflow Inc. and Brisbane, Calif.-based Colo.com each is leasing more than 30,000 square feet in the Globe Building at 710...

Corrections.(Brief Article)
June 5, 2000... RightCHOICE Managed Care Inc. RightCHOICE Managed Care Inc. had 1999 earnings of $17.2 million, or 92 cents a share, and 1998 earnings of $5.66 million. This information was incorrect in the Business Journal's list of the Largest Publicly...

President steps up efforts to block other area casinos.(Brief Article)
June 5, 2000... The President Casino on the Admiral has launched a lobbying effort to block a new casino on the Mississippi River. It has expanded the role of Eric Banks, a Thompson Coburn attorney and former St. Louis city counselor, and it has hired...

Haas Automation opens machine tool outlet in Maryland Heights.(Brief Article)
June 5, 2000... Haas Automation Inc., a machine tool manufacturer, has opened a 52,000-square-foot factory outlet in Maryland Heights. Ken Carse, general manager of Haas Factory Outlet-St. Louis, said Haas has annual sales of around $400 million and ships...

Maverix.net's low-cost rates tighten DSL competition.(Brief Article)
June 5, 2000... Maverix.net, a provider of dedicated service lines for high-speed Internet access, is increasing the competition in St. Louis by decreasing the cost of access. Maverix's service, which debuted May 24, costs from $79 for a 200-kilobits...

FAA puts restrictions on TWA's curbside luggage check-ins.(Brief Article)
June 5, 2000... TWA skycaps in St. Louis and New York have been placed under. restrictions by the Federal Aviation Association after failing spot checks on security procedures. "There were some incidents of luggage that was accepted that caused concerns,"...

Epic Partners has designs on $6 million by year's end.(Brief Article)
June 5, 2000... Software developer and Web designer Epic Partners is on track to triple revenue this year to about $6 million. Chief development officer Dan Larson said he plans to add 35 to 40 employees nationwide by the end of 2000, bringing the total to...

Dittrich aims to double Pioneer Bank's assets by 2003.(Brief Article)
June 5, 2000... One year after taking the helm at Pioneer Bank & Trust Co., Chairman and Chief Executive Gaines Dittrich has put in motion a plan to double the bank's assets over the next two to three years. Three new branches are on the drawing boards, as...

Reliv turns around losses, drops contract operations.(Brief Article)
June 5, 2000... After posting a $1.4 million loss in 1999, Reliv International reported a first quarter profit of $163,000. The company got back on track by dropping most of its contract manufacturing and packaging operations said Robert Montgomery,...

Jobless rate at record low; Bridge seeks sale of shares.(Brief Article)
June 5, 2000... St. Louis' unemployment rate is at a record low since the current method of calculation was instituted in 1973, according to a report by the Missouri Department of Labor and Industrial Relations. More jobs in manufacturing, transportation and...

Bridge Information Systems Inc.(Brief Article)
June 5, 2000... Bridge Information Systems Inc., the world's second-largest financial information company, will seek to sell shares of parts of the company this year, a prelude to a public offering of the whole company in 2001, said Chairman Tom Wendel in an...

Monsanto Co.(Brief Article)
June 5, 2000... Monsanto Co. completed the sale of its sweetener ingredient business to J.W. Childs Equity Partners II L.P. for $440 million in cash. Monsanto also has completed the sale of equity interests in two European joint venture companies, NutraSweet...

Balsarotti named delegate to Small Business Summit.(Brief Article)
June 5, 2000... Joe Balsarotti, president of St. Louis-based Software To Go, is one of two Missourians who are delegates to the Congressional Small Business Summit. The summit, a biennial event, will be held June 7-10 in Washington, D.C. It was founded by...

Outfit your small office without breaking the bank.(Brief Article)
June 5, 2000... Setting up a small office or thinking about upgrading your current one? You picked a good time. Thanks to plunging equipment prices and shrinking devices, today's small office no longer must be a makeshift operation. For less than $2,000; your...

Addiction to competence can impede career change.(Brief Article)
June 5, 2000... An addiction to being competent can sometimes keep people mired in careers that aren't a good fit. I have worked with individuals who hate what they do, but who by dint of discipline have achieved proficiency at it. While they dislike...

Missouri Employers Mutual Insurance Co.(Brief Article)
June 5, 2000... Due to an error in the name, this profile is being rerun in its entirely. 50 to 250 employees Last year's bonus checks were not in the mail for the staff of Missouri Employers Mutual Insurance Co. Each check was hand-delivered by...

Paying attention to how we use our words daily.(Brief Article)
June 5, 2000... Some people who read these columns rea1ly believe one has to be an expert on the subject of words, or to have perfect answers each time words are used. But we can find that we can get along better in our everyday life by just remembering...

LARGEST NONPROFIT RESIDENTIAL CARE FACILITIES.(Missouri)(Illustration)(Statistical Data Included)
June 5, 2000... LARGEST NONPROFIT RESIDENTIAL CARE FACILITIES (RANKED BY NUMBER OF LICENSED BEDS) Facility address (rank last year) phone/fax ...

Bank of America leads way in local SBA lending.(Brief Article)
June 5, 2000... There were plenty of awards to go around at the kickoff breakfast for Small Business Week. The first event in a week-long series of programs has traditionally been held to recognize the top lenders for the Small Business Administration....

LARGEST NURSING HOMES.(Missouri)(Illustration)(Statistical Data Included)
June 5, 2000... LARGEST NURSING HOMES (RANKED BY NUMBER OF LICENSED SKILLED BEDS) Number of Company ...

PEOPLE.(appointments and selections in St. Louis business)
June 5, 2000... Architecture/Engineering Gerald Williams has been named president and chairman at McClure Engineering Associates. Keith Cooper has been elected vice president and treasurer and Chuck Dale-Derks has been elected vice president and...

House considers stand-alone estate tax repeal bill.(Brief Article)
June 5, 2000... The House is expected to vote on legislation to phase out the federal estate tax the week of June 5. Congress passed similar legislation last year as part of a $792 billion tax cut, but that package was vetoed by President Clinton. A...

New Frontier to pioneer remote bank teller system.(Brief Article)
June 5, 2000... Teller Counters are out, interactive video screens are in at the planned New Frontier Bancshares in St. Charles. It will be among the first in the nation -- and the only bank in Missouri -- to use a remote teller system. A two-way,...

Tech stocks still top picks for many athlete portfolios.(Brief Article)
June 5, 2000... Rams' Williams, Farr turn to financial pros for help with game plan It's unlikely that local athletes will ever back away from investing in restaurants and night clubs, both common money-makers for sports figures. But another type of...

Michigan firm buys Village Park apartments.(Village Green Cos.)(Brief Article)
June 5, 2000... Manchester Commons Apartments has sold Village Park, formerly Manchester Commons, for $1 3.3 million to Michigan-based Village. Green Cos., according to the certificate of value filed at the St. Louis County Assessor s Office. This is the...

Lintz coaches athletes on money management.(Kathy Lintz of Financial Management Partners)(Brief Article)
June 5, 2000... A strong work ethic, talent and a bit of luck were among the elements that led Kathy Lintz to open Financial Management Partners 10 years ago. The Clayton-based firm now handles $300 million worth of assets for 83 current and retired...

Non-profits, donors each benefit from stock gifts.(Brief Article)(Statistical Data Included)
June 5, 2000... Universities and other non-profits are taking stock these days -- instead of cash, that is. The long-running bull market means many potential donors are sitting on enormous capital gains in their stock holdings, and area non-profits are...

Get stamps, phone cards, checks at Super ATMs.(provided by Firstar Bank)(Brief Article)
June 5, 2000... Firstar soups up St. Louis area ATMs By mid-August, Firstar Bank customers will be able to use the 147 Firstar ATMs in the metropolitan area for a lot more than withdrawals and deposits. Milwaukee-based Firstar, which acquired...

Vitek 2 debuts at labs in U.S.(Brief Article)(Statistical Data Included)
June 5, 2000... BioMerieux is hitting the United States -- its largest market -- with a new bacteria testing device. The "Vitek 2" -- descendent of a research program at the former McDonnell Douglas -- is already off to a fast start overseas. BioMerieux...

Women's Hospital costs triple.(Brief Article)(Statistical Data Included)
June 5, 2000... Additions push project's cost to $109 million The cost of the proposed Women's Hospital Center in Chesterfield its medical campus is likely to triple to $109 million, according to a new plan submitted to the Chesterfield Planning and...

Sachs names Murdick as chief exec.(Sachs Electric Co.; Robert Murdick)(Brief Article)
June 5, 2000... Plunkett remains, chairman; Scharff becomes president The reins are changing hands at Sachs Electric Co., Missouri's largest electrical contractor. Robert Murdick and Clayton Scharff, both top executives at the company, took over...

Blues cutting some season ticket prices in half.(St. Louis Blues hockey club)(Brief Article)
June 5, 2000... Kiel to get new sports bar, improved sound system and upgraded lighting St. Louis Blues owner Bill Laurie is cutting in half the cost of some season ticket prices in hopes of drawing more fans to home games. Laurie also plans several...

Healthy paycheck.(Michael Place received $439,351 in total compensation in 1999 as president and chief executive of Catholic Health Association)(Brief Article)
June 5, 2000... In his first full year as president and chief executive of Catholic Health Association, the Rev. Michael Place received $439,351 in total compensation, according to a 1999 report the trade group filed May 15 with the Internal Revenue Service....

Hot race.(Missouri Senate race between Sen. John Ashcroft and Gov. Mel Carnahan )(Brief Article)
June 5, 2000... A George magazine has ranked the Missouri Senate race between Sen. John Ashcroft and Gov. Mel Carnahan as No. 1 on its list of "Top 10 Races to Watch." An article in the June issue of George said: "The candidates have traded narrow leads in...

Stocking up.(Hussmann International)(Brief Article)(Statistical Data Included)
June 5, 2000... A group led by prominent investor Mario Gabelli nearly doubled its stake in Hussmann International just before and just after the May 12 announcement that the company would be acquired by Ingersoll-Rand. Federal filings show Gabelli's group...

Brokering a deal.(A.G. Edwards & Sons to expand staff)(Brief Article)
June 5, 2000... Look for A.G. Edwards & Sons to announce a further expansion of its St. Louis campus and its local staff. The investment company announced two years ago that it was hiring 450 people at its headquarters at Jefferson Avenue and Market Street....

Making a mark.(HBE plans to build a $90 million hotel and office complex)(Brief Article)(Statistical Data Included)
June 5, 2000... HBE's plans to build a $90 million hotel and office complex at Page Boulevard and Interstate 270 in Maryland Heights have moved a step closer. With the help of special master. Harry O. Moline, the company reached the final phase of negotiations...