St. Louis Business Journal articles from March 1990

St. Louis Business Journal archives from March 1990

First Banks will pay $11 million for Clayton S & L. (First Banks Inc., Clayton Savings and Loan Association; also purchasing West Frankfort Community Bancshares Inc. and Havana Bancshares Inc.)
March 26, 1990... First Banks will pay $11 million for Clayton S&L First Banks Inc. plans to sell $25 million in 10-year bonds to pay for its pending purchase of Clayton Savings and Loan Association and two banks. First Banks, based in Creve Coeur, is...

Developers race to build outlet mall. (California Factory Stores Inc. and Howard & Rice vying to find well-known retailer to be leading tenant)
March 26, 1990... Developers race to build outlet mall Two out-of-state developers are racing each other to be the first to build a $15 million to $20 million manufacturers' outlet mall near Six Flags. Whoever gets the "magic" big-name manufacturer to...

O'Donnell eyes surgery franchises. (Dr. Francis O'Donnell seeks to sell franchises using laser eye surgery techniques)
March 26, 1990... O'Donnell eyes surgery franchises St. Louis ophthalmologist and investor, Dr. Francis O'Donnell Jr., has set his sights on selling franchises that will employ a new laser technique for eye surgery. O'Donnell is one in a group of...

Helen Wolff, after 53 years here, closing its doors. (Helen Wolff Apparel Co. closing stores in St. Louis and Florida)
March 26, 1990... Helen Wolff, after 53 years here, closing its doors Helen Wolff, the 53-year-old St. Louis women's clothing store, will shut the doors of its Plaza Frontenac store sometime this month. The women's apparel store will close when the...

Fisher-Camuto, Brown in comfortable pump battle. (Fisher-Camuto, St. Louis Group; Brown Group Inc. battle over women's shoe market)
March 26, 1990... Fisher-Camuto, Brown in comfortable pump battle On one channel, a British gentleman wears red women's pumps and says they're "soft and cushy." Switch to another and a woman vaults the high jump successfully. In the last few frames the...

Shanahan could buy Blues for $25 million - $35 million. (Michael Shanahan, chairman of St. Louis Blues hockey team)
March 26, 1990... Shanahan could buy Blues for $25 million-$35 million An investor buy out of the Blues by club chairman Michael Shanahan would probably be in line with the recent sale prices of National Hockey League teams, according to sports appraisers...

Florsheim could be sold to help Interco pay loans. (Florsheim Shoe Co; Interco Inc.)
March 26, 1990... Florsheim could be sold to help Interco pay loans Interco Inc. has gained more time to pay its debt, but the shoe and furniture manufacturer still faces high interest payments beginning in 1993 that could cause it to sell one of its core...

Turco, Kinloch unveil plans. (Turco Development Co. to develop land in Kinloch, Missouri)
March 26, 1990... Turco, Kinloch unveil plans Officials of Turco Development Co. and the city of Kinloch have announced plans to develop a 175-acre site near the intersection of Interstates 70 and 170, just east of Lambert-St. Louis International Airport....

Trammell Crow's package deal. (selling off warehouse properties in six cities)
March 26, 1990... Trammell Crow's package deal Trammell Crow is preparing to sell several industrial warehouse properties here as part of a $176 million package involving properties in six cities. Steven Spaulding, managing partner of Trammell Crow's...

Harris gets marketing post. (Margaret Harris becomes marketing director of Peper, Martin, Jensen, Maichel, & Hetlage law firm)
March 26, 1990... Harris gets marketing post Margaret Harris, who spent nine years in various marketing positions with Mobile Oil Co., has been named director of marketing for the Peper, Martin, Jensen, Maichel & Hetlage law firm. Harris, the first...

Guild contract gives Post leg up with other unions. (St. Louis Post-Dispatch settles with St. Louis Newspaper Guild)
March 26, 1990... Guild contract gives Post leg up with other unions Settling with its largest labor union has given the St. Louis Post-Dispatch a strong hand in negotiations with the five unions whose contracts have not been settled. And those unions...

Ralston may shepherd dog food ads into one campaign. (Ralston Purina Co.)
March 26, 1990... Ralston may shepherd dog food ads into one campaign Ralston Purina Co. is developing a new dog food campaign, one built around a nutritional theme for four of its 16 dog food brands: Hi-Pro, Fit & Trim, Dog Chow and Puppy Chow. Those...

NutraSweet seeks approval for candy with aspartame. (NutraSweet Co.)
March 26, 1990... NutraSweet seeks approval for candy with aspartame The NutraSweet Co. has filed a petition with the federal Food and Drug Administration seeking approval for the use of aspartame as a sweetener in soft candy. If approved, the new...

Pacific bank's size would double with purchase. (Pacific National Bank to purchase First Nationwide Bank of Eureka)
March 26, 1990... Pacific bank's size would double with purchase Pacific National Bank will nearly double in size following its proposed acquisition of First Nationwide Bank of Eureka. The cost of the acquisition has not been disclosed. Pacific National...

Ingersoll offers to buy bonds. (Ingersoll Newspapers Inc. to purchase bonds owned by Community Newspapers Inc.)
March 26, 1990... Ingersoll offers to buy bonds Ingersoll Newspapers Inc., a newspaper company controlled by Ralph Ingersoll, has made an offer to purchase bonds owned by another Ingersoll-controlled company, Community Newspapers Inc. The offer, which...

Ameribanc talks to Brouster about a top post at firm. (Ameribanc Inc.; Thomas Brouster)
March 26, 1990... Ameribanc talks to Brouster about a top post at firm Representatives for Ameribanc Inc., based in St. Joseph, are negotiating to bring an experienced turnaround expert from St. Louis into the company after seeing earnings drop more than 50...

Daniel and Henry names Abernathy, Collins VPs. (Daniel and Henry Co.; Bruce J. Abernathy; David W. Collins)
March 26, 1990... Daniel and Henry names Abernathy, Collins VPs Bruce J. Abernathy and David W. Collins have been named vice presidents of the Daniel and Henry Co. As brokers at Daniel and Henry, Abernathy and Collins will be responsible for client...

Doe Run pays $50,000 in clear air agreement. (Doe Run Co. lead smelter in violation of clear air laws)
March 26, 1990... Doe Run pays $50,000 in clean air agreement The Missouri Department of Natural Resources and the attorney general's office signed a consent order with the Doe Run Co., a smelting operation in Herculaneum, Mo., specifying an air pollution...

Valley Industries Inc. (Proxy Report Excerpts) (company profile)
March 26, 1990... Valley Industries Inc. Valley Industries manufactures and distributes a variety of steel products, including pipes used in the oil industry. For fiscal 1989, which ended Nov. 30, 1989, the firm reported sales of $78.84 million and a loss of...

Nabisco to pay state for misleading ads. (Nabisco Brands Inc. to pay eight states)
March 26, 1990... Nabisco to pay state for misleading ads Nabisco Brands Inc., East Hanover, N.J., has agreed to pay Missouri and eight other states a total of $135,000 to settle allegations that certain cereal and margarine advertisements were misleading....

Germania dropped from NASDAQ market system. (Germania Bank)
March 26, 1990... Germania dropped from NASDAQ market system Germania Bank's common stock has been dropped from the NASDAQ National Market System because it does not meet necessary capital requirements. Germania's common stock is traded over-the-counter...

Picturesque Graphics. (promotional items printing firm)
March 26, 1990... PICTURESQUE GRAPHICS Before anything, Gail Gargac is a mother. She is mother to her four grown children, 12 employees and a silkscreen company that is expected to gross $1 million this year. The 55-year-old, who began her career...

He's hiding his work. (John Schneider, owner of Audio by Design)
March 26, 1990... He's hiding his work You can hire John Schneider for $10,000, but you won't be able to see all that he does. Schneider is the head of his own home audio business, the world of hidden wires and speakers, where televisions, radios and...

Sverdup signs agreement with Building Technologies. (Sverdup Building Corp.; Building Technologies Corp.)
March 26, 1990... Sverdup signs agreement with Building Technologies Sverdup Building Corp., a subsidiary of Sverdup Corp., has signed an agreement with Building Technologies Corp. (BTC) to promote and sell BTC's line of pre-engineered metal building and...

Chard named director of Mast Advertising. (Randy Chard; Mast Advertising & Publishing Inc.)
March 26, 1990... Chard named director of Mast Advertising Randy Chard, formerly systems manager of information systems at Southwestern Bell Telephone Co., has been named director of data processing at Mast Advertising & Publishing Inc. Mast is a subsidiary...

Gas vs. electricity: fight grows hotter. (utilities vy for installation in new homes and businesses)
March 26, 1990... Gas vs. electricity: fight grows hotter The battle between utilities for new residential sales is heating up. Union Electric has been touting the heat pump and is working with contractors to gain a larger share of the residential and...

The Brokers Alliance. (new company being formed by Engler Hundhausen & Lockos Insurance Group Inc. and Consumers First Inc.)
March 26, 1990... The Brokers Alliance Engler, Hundhausen & Lockos Insurance Group Inc., and Consumers First Inc., have formed The Brokers Alliance which uses a computer-based information system to sell auto, home, life and health insurance more...

Schwilck to retire as Danforth Foundation head. (Gene L. Scwilck)
March 26, 1990... Schwilck to retire as Danforth Foundation head Gene L. Schwilck, president of the Danforth Foundation since 1973, will retire July 1. Schwilck, 64, was appointed vice president of the foundation in 1967. The foundation, based in St....

CPC-Rexcell Inc. (Earnings)
March 26, 1990... CPC-Rexcell Inc. CPC-Rexcell Inc. reported a loss in 1989 of $1.80 million, or 41 cents a share, on sales of $58.63 million. For 1988, the firm reported a profit of $2.27 million, or 52 cents a share, on sales of $61.11 million. ...

First Nationwide Bank-Eureka. (Mergers and acquisitions)
March 26, 1990... First Nationwide Bank-Eureka First Nationwide Bank-Eureka has undergone a change of ownership. The proposed new owner is Robert J. Leucken.

Custom Cards Inc. (New Businesses)
March 26, 1990... Custom Cards Inc. Custom Cards Inc., specializing in color, photographic business cards and post cards, has opened at 2320 S. Brentwood Blvd.

Midwest Accounting Services. (New Businesses)
March 26, 1990... Midwest Accounting Services Midwest Accounting Services, specializing in small business accounting and income tax, has opened at 1803 Lafayette Ave.

World Gym. (New Businesses)
March 26, 1990... World Gym World Gym will open April 21 at 13363 Olive Blvd., Woodchase Plaza.

Lighthouse Treatment Center. (New Businesses)
March 26, 1990... Lighthouse Treatment Center Lighthouse Treatment Center, rehabilitation center for chemically dependent adolescents, will open May 1 at 1001 Vadalabene Road, Maryville, Ill.

Cheryl Coleman Realtors. (New Businesses)
March 26, 1990... Cheryl Coleman Realtors Cheryl Coleman Realtors, real estate office, has opened at 900 East 8th St., Washington, Mo.

Budget Lodging Motel. (New Businesses)
March 26, 1990... Budget Lodging Motel Budget Lodging Motel will open in April at I-44 S. Service Road, St. Clair.

Westminster Place. (New Businesses)
March 26, 1990... Westminster Place Westminster Place, retail sales of various lace products, including table cloths and gowns, will open April 1 at Plaza Frontenac, S. Lindbergh & Clayton Road.

King Koil Bed Quarters. (New Businesses)
March 26, 1990... King Koil Bed Quarters King Koil Bed Quarters bedding accessories, will open at 16445 Manchester Road pending interior finish.

Belinda Bond. (Mergers and Acquisitions)
March 26, 1990... Belinda Bond Belinda Bond is the new owner of What's New, family activewear, 8519 Natural Bridge Road.

Harbour Group Ltd. (People On the Move)
March 26, 1990... Harbour Group Ltd. Jeffery Fox has been promoted to president of Harbour Group Ltd.

Michael Zilm. (People On the Move)
March 26, 1990... Michael Zilm Michael Zilm has been named president and chief executive officer of St. Joseph Hospital of Kirkwood.

Civic Center Corp. (People On the Move)
March 26, 1990... Civic Center Corp. Civic Center Corp. has promoted Bruce Sabin to executive vice president and chief operating officer.

Katy-Seghers. (People On the Move)
March 26, 1990... Katy-Seghers Katy-Seghers has appointed Robert Baratta general manager and chief operating officer.

Granite City Steel might fetch up to $420 million. (company profile)
March 19, 1990... Granite City Steel might fetch up to $420 million The Granite City Steel plant, built by two brothers in 1878 and still rolling out more than 2.1 million tons of steel a year, is for sale. Granite City is on the block together with its...

Image processing pays off at General American. (Section C)
March 19, 1990... Image processing pays off at General American The electronic age has come to General American Life Insurance Co. in a big way. At its National Service Center on Tesson Ferry Road, computers now assist in processing life insurance...

25% of companies plan to increase work force. (Section C)
March 19, 1990... 25% of companies plan to increase work force The 1990 Second Quarter Employment Outlook Survey shows 25 percent of St. Louis employers expect to add to their staff during the April/May/June period. Eight percent plan personnel cutbacks and...

Converse boosts ad spending. (Interco Inc.'s Converse division)
March 19, 1990... Converse boosts ad spending Interco Inc., the Clayton-based shoe and furniture manufacturer, has plans to inject its Converse division with $40 million in advertising, promotions and product development in fiscal 1991, said Richard Loynd,...

Olin's Winchester division on target.
March 19, 1990... But brass group faces changes Olin's Winchester division on target Olin Corp.'s Winchester division is providing plenty of ammunition for growth, but discontinued operations shot down the profitability of the company's brass group....

Falcon Products Inc. (Proxy Report Excerpts) (Section B) (company profile)
March 19, 1990... Falcon Products Inc. Franklin Jacobs Chairman, president and chief executive Falcon Products manufactures and markets a wide range of products for the hospitality, food service, health care, contract furniture and material-handling...

Sublease space hits a peak in St. Louis office market.
March 19, 1990... Sublease space hits a peak in St. Louis office market More office sublease space has fallen on the St. Louis market as a result of the current business and office leasing climate. Sublease space has reached a peak here, observers say,...

St. Louis Regional Health Care Corp. (Proxy Report Excerpts) (Section B) (company profile)
March 19, 1990... St. Louis Regional Health Care Corp. Robert Johnson(*) President & CEO St. Louis Regional Health Care Corporation operates St. Louis Regional Medical Center and four outlying ambulatory care centers. Founded in 1985, its 1,250 employees...

Brighton Group one-stop marketing for small firms. (company profile)
March 19, 1990... Brighton Group one-stop marketing for small firms Providing area businesses with a one-stop source for marketing services is a group project. At least according to Brighton Group, a consortium of four marketing firms, which provides...

Cook to head First National; son of chairman replaces Dennig. (S. Bryan Cook, Louis Dennig Jr.)
March 19, 1990... Cook to head First National Son of chairman replaces Dennig S. Bryan Cook is the new president and chief executive of First National Bank of St. Louis County, replacing Louis Dennig Jr., who becomes vice chairman of the bank until...

Thompson, K.C. law firm still talking merger. (Thompson & Mitchell, Kansas City-based Stinson Mag & Fizzell)
March 19, 1990... Thompson, K.C. law firm still talking merger Thompson & Mitchell and Kansas City-based Stinson Mag & Fizzell are still negotiating a merger despite the possibility of Stinson losing a major client, according to sources at Thompson &...

McDonnell Douglas' cultural revolution. (company profile)
March 19, 1990... McDonnell Douglas' cultural revolution Firm departs from Mr. Mac's way, but will it turn around Douglas? When James McDonnell ran McDonnell Douglas, few doubted where the marching orders came from -- the executive suite. His...

At the Fed, 'no' votes dwindle, Melzer finds more harmony in monetary policy. (Thomas Melzer, president of the Federal Reserve Bank of St. Louis) (Section B)
March 19, 1990... At the Fed, 'no' votes dwindle Melzer finds more harmony in monetary policy Although dissenting votes are still cast, members of the Federal Open Market Committee are more in sync than they were a decade ago. Thomas Melzer,...

Missourians weather auto rates; slight rise in premiums. (Section C)
March 19, 1990... Missourians weather auto rates Slight rise in premiums Missourians can thank the weather for their stable auto insurance rates. Hail, which causes thousands of dollars of damage to a car, has not been prevalent in the past two...

Overhauling Division of Insurance; bills seek to expand agency. (Section C)
March 19, 1990... Overhauling Division of Insurance Bills seek to expand agency An increase in insurance company insolvencies and the threat of problems rivaling those in the savings and loan industry have created calls for wide-reaching insurance...

Insurance firms, big businesses at odds on bill. (to remove $25 million net worth cap from Missouri Insurance Guarantee Fund)
March 19, 1990... Insurance firms, big businesses at odds on bill Two of Missouri's stronger lobbying forces -- the insurance industry and big business -- are at loggerheads over a bill that would remove a $25 million net worth cap from an insurance fund....

Bank Building needs cash fix after losing $10.3 million. (company profile)
March 19, 1990... Bank Building needs cash fix after losing $10.3 million To continue operations, early this year Bank Building obtained temporary bank financing of $1.7 million. The survival of Bank Building Corp., which was rocked by accounting errors...

General American realigns insurance into 4 divisions. (Section C) (company profile)
March 19, 1990... General American realigns insurance into 4 divisions After experiencing its greatest decade of growth, General American Life Insurance Co. is restructuring for the '90s. The insurance firm, in order to give each business segment greater...

Michelob Dry gets raves but market share drops.
March 19, 1990... Michelob Dry gets raves but market share drops Michelob Dry was chosen by the American Marketing Association as one of the 11 best new products for 1989, but consumers' excitement for the brand is slipping. Information from A.C....

The ever-changing face of the St. Louis workplace.
March 19, 1990... The ever-changing face of the St. Louis workplace More than six out of 10 (62 percent) St. Louis executives indicate their company has experienced either an acquisition, merger, and/or reorganization during the last two years. These...

Pet puts more accent on Ac'cent and Old El Paso. (company profile)
March 19, 1990... Pet puts more accent on Ac'cent and Old El Paso Consumers will begin hearing new radio commercials for Ac'cent and later this year will see a whole new look to advertising for Old El Paso. While both brands have been among a bevy of...

Community Federal names Berry senior vice president. (Clifton Berry)
March 19, 1990... Community Federal names Berry senior vice president Clifton Berry has been promoted to senior vice president of Community Federal Savings and Loan. Prior to his appointment, he held the position of vice president of commercial lending....

Skilled nursing at Carrollton. (Carrollton Manor Nursing Center)
March 19, 1990... Skilled nursing at Carrollton Despite a moratorium on nursing home beds in the state, and against the recommendations of the state's health facilities regulatory staff, the Carrollton Manor Nursing Center in Bridgeton has gotten the nod to...

Dissident slate of directors. (Comprehensive Care Corp.)
March 19, 1990... Sanus snows first profit Better underwriting and cost management helped Sanus Health Plan, St. Louis' second largest health maintenance organization, post its first profit. Sanus reported pre-tax profits of $2.56 million on revenues of...

Sanus shows first profit.
March 19, 1990... Entrepreneurs of Year nominees sought A national search to find retail entrepreneurs is being launched by Ernst & Young, a professional services firm, Inc. magazine and Merrill Lynch. The Entrepreneurs of the Year program, in its fifth...

Daniel and Henry 'enhances' insurance for helicopters. (Section C) (company profile)
March 19, 1990... Daniel and Henry `enhances' insurance for helicopters Innovations in insurance typically are born in places like Hartford or New York, but a local company has come up with a new wrinkle that it hopes will help it capture a larger percentage...

Delmar Gardens East sold to Chicago firm.
March 19, 1990... Founded by Grossberg family in 1964 Delmar Gardens East sold to Chicago firm Delmar Gardens East, the Grossberg family's first nursing home, has been sold to EMI Enterprises in Chicago. The 128-skilled nursing bed facility in...

Doctor insurer's law firm opens Clayton office. (PIE Mutual Insurance Co.'s law firm: Jacobson, Maynard, Tuschman & Kalur)
March 19, 1990... Doctor insurer's law firm opens Clayton office PIE Mutual Insurance Co.'s law firm -- Jacobson, Maynard, Tuschman & Kalur -- is opening a law office in Clayton next month to support PIE-insured physicians in the St. Louis area. PIE...

GD settles claim on Veliotis. (General Dynamics Corp., P. Takis Veliotis)
March 12, 1990... GD settles claim on Veliotis $2 million settlement closes dark chapter General Dynamics Corp. has settled an account with a former company executive who brought notoriety to the firm during the 1980s. General Dynamics has agreed to...

Farrell's team puts May on road to top. (David C. Farrell, May Department Stores Co., sales) (company profile)
March 12, 1990... Farrell's team puts May on road to top The six men who drive the third largest department store retailer in America like to stick to the middle of the road. Using marketing methods that some label "vanilla," these cautious merchants...

Blue Cross details cost-saving plan. (Blue Cross and Blue Shield of Missouri)
March 12, 1990... Blue Cross details cost-saving plan Blue Cross and Blue Shield of Missouri is telling its traditional insurance plan members where to go to save money. The insurer has contracted with home health suppliers, which have agreed to lower...

May Department Stores Co. (to open four Hecht stores in Virginia) (Shop Talk) (column)
March 12, 1990... May Department Stores Co. May Department Stores Co. was scheduled to open its four new Hecht's stores March 9 in the Richmond and Tidewater regions of Virginia. May purchased the four stores for $22.7 million from Miller & Rhodes,...

Best Buy Co. Inc. (to lay off 35 in St. Louis conversion plan) (Shop Talk) (column)
March 12, 1990... Best Buy Co. Inc. Best Buy Co. Inc. announced St. Louis would be the first market where existing stores would be converted into warehouse-type units. The Minneapolis-based company said it would lay off 35 full and part-time employees...

Exercise equipment unit unhealthy for Diversified. (Diversified Industries' AVITA Health and Fitness Products Inc., earnings)
March 12, 1990... Exercise equipment unit unhealthy for Diversified Diversified Industries took a $5.9 million hit in fiscal 1989 due to the writeoff and planned disposal of its exercise equipment subsidiary, according to the company's annual report. ...

Sigma-Aldrich using catalog blitz to further market share. (company profile)
March 12, 1990... Sigma-Aldrich using catalog blitz to further market share Sigma-Aldrich Corp. hopes to capitalize on its acquisition of Fluka Chemie AG by offering its existing customers more than 4,000 new chemicals. St. Louis-based Sigma-Aldrich is...

Mark Twain, other banks aggressively vie for deposits. (Mark Twain Bancshares Inc., St. Louis)
March 12, 1990... Mark Twain, other banks aggressively vie for deposits Mark Twain Bancshares plans to be near the front of the pack in the rates it pays depositors this year. Mark Twain is currently paying 8 percent on one-year certificate of deposit...

Layoffs hit struggling independent video studios. (Technisonic Studios, Innervision, St. Louis)
March 12, 1990... Layoffs hit struggling independent video studios Independent video production studios here are struggling to stay in the picture. Two of St. Louis' three largest independent video production facilities have laid off members of their...

SW Bell's man in Washington testing foreign waters. (Southwestern Bell Corp.'s Horace Wilkins, Jr.)
March 12, 1990... SW Bell's man in Washington testing foreign waters When Southwestern Bell Corp. officials are looking for support on issues involving international trade or federal regulation of the telecommunication industry, they call Horace Wilkins Jr....

Bud Dry, its manager take national stage. (Anheuser-Busch Cos. Inc.'s Bud Dry beer, August Busch, IV.)
March 12, 1990... Bud Dry, its manager take national stage Bud Dry will begin its national introduction next month, providing August Busch IV his first challenge since being appointed Bud Dry's senior brand manager last month. Last week, Busch IV led a...

Lewis & Rice partners. (Lewis, Rice & Fingersh names 9 new partners) (Update)
March 12, 1990... Lewis & Rice partners Lewis, Rice & Fingersh has named nine new partners - five of them from St. Louis. It is the largest number of new partners named here in a given year for more than a decade, said Jack Pruellage, chairman of the...

C&B Consulting merges with Independence firm. (C and B Consulting Group, Management Science Associates Inc., Independence, Missouri)
March 12, 1990... C&B Consulting merges with Independence firm An Independence, Mo., consulting firm has merged with C&B Consulting Group of St. Louis. Management Science Associates Inc., which is based in Independence with a satellite office in San...