St. Louis Business Journal articles from March 1997

St. Louis Business Journal archives from March 1997

Cards seek same hand dealt to Rams; group pushes tax relief to pay for new stadium, repairs at Busch. (stadium for St. Louis Cardinals; Busch Stadium)
March 31, 1997... A new stadium for the St. Louis Cardinals could be a decade or more away, but the team wants public help much sooner. The Cardinals are looking for some of the same concessions the city of St. Louis and the state of Missouri offered the Rams...

St. Charles withholds $40,000 from RCGA. (Missouri; St. Louis Regional Commerce and Growth Association)
March 31, 1997... The city of St. Charles is withholding $40,000 it pledged to the St. Louis Regional Commerce & Growth Association and is considering forming its own organization to foster economic development west of the Missouri River. St. Charles...

Club Ped: corporate fitness programs help employees get a leg up. (Maritz Inc. wellness program)(Employee Benefits)
March 31, 1997... The motivation for St. Louis companies offering their employees physical fitness programs stems from concern for the employees as well as the health of the corporation. "The fact that employees feel good is important to their productivity,"...

Adding value of vacations to 401(k)s causes problems. (salary reduction savings plans)(Employee Benefits)
March 31, 1997... Last September the benefits community was going gaga over an Internal Revenue Service memo. The tax collection agency seemed to be giving a break to employees who opted not to take vacations, but instead have their bosses contribute the...

Ralston joins firms trying flexible work arrangements. (Ralston Purina Co.)(Employee Benefits)
March 31, 1997... Earlier this year, Ralston Purina Co. rolled out "It's All About Time" and became the latest local company to experiment with flexible work arrangements. Under the program, all salaried employees are eligible for two features: Paid Time Off...

Express Scripts helps insurers save on pharmacy costs. (Express Scripts Inc.)(Employee Benefits)
March 31, 1997... Faced with rising pharmaceutical costs, health insurance companies are hiring watchdogs to manage the prescription patterns of doctors and restrict the list of drugs available to their members. When drug costs escalate, employers have trouble...

St. John's, UE among firms getting lift via RideFinders. (St. John's Mercy Medical Center; Union Electric Co.; ride-sharing program)(Employee Benefits)
March 31, 1997... 80 companies, 2,592 people along for ride Business participation in RideFinders, a program that coordinates work-site ride-sharing programs, has grown dramatically in the three years since the program was established. More than 80...

Turvey's back: bringing stability to United HealthCare. (United HealthCare of the Midwest Pres. Victor Turvey)
March 31, 1997... Victor Turvey, the new president at United HealthCare of the Midwest Inc., is changing the company's strategy, saying it will no longer continue the practice of buying market share. Turvey recently assumed the reins of the largest health...

Study of wage levels shows diversity is state's strength. (Missouri)
March 31, 1997... Missouri's largest industries (as a % of total wages) Manufacturing Services Government Total annual wages in each industry $17.1 billion $24.0 billion $12.2 billion ...

VAI gets co-workers to interact anonymously.(Company Profile)
March 31, 1997... Business Activity: VAI, formerly known as Flashpoint, has taken meetings, planning sessions and surveys into the high-tech age. Through its group discussion support center, VAI brings employees of a company together - from the chief executive...

Agri-Nutrition Group Ltd. (Proxy Report Excerpts)(Company Profile)
March 31, 1997... Bruce G. Baker President and chief executive officer Agri-Nutrition Group produces, markets and distributes a wide variety of health, grooming and nutritional products for the pet and animal health-care industry. The company reported a loss...

Change attitude, create regional renaissance. (St. Louis, Missouri's regional development efforts)
March 31, 1997... St. Louis has taken a step no other American region has dared to take. It has formed an organization, St. Louis 2004, dedicated to implementing practical, financially and politically feasible proposals that will transform the region into a...

D'Arcy alums - a who's who in advertising. (D'Arcy Masius Benton and Bowles)
March 24, 1997... Fallout stemming from the downsizing of D'Arcy Masius Benton & Bowles has spawned a host of new advertising agencies and rained talent on others. "If you could put together a D'Arcy alumni association, you'd be astonished at the children,"...

NationsBank beefing up rich clients group. (NationsBank Corp.)
March 24, 1997... A new division of NationsBank Corp. that provides services for the wealthy plans a major expansion in the next year in St. Louis. The Private Client Group in St. Louis will hire 50 to 100 new employees as it comes up to full speed, said V....

Gateway Center puts out welcome mat to lure Dial. (Illinois' Gateway Commerce Center; Dial Corp.)
March 24, 1997... A 1 million-square-foot distribution facility, with an estimated price tag of $25 million, is proposed for Southwestern Illinois' Gateway Commerce Center. Chicago-based First Industrial Realty Trust Inc. is negotiating with Caliber Logistics...

Gephardt engineer on Union Pacific deal. (Rep. Richard Gephardt; Union Pacific Corp.)
March 24, 1997... Tracks headquarters move here A push by U.S. Rep. Richard Gephardt, D-Mo., to help Union Pacific Corp. could play a key role in a bid by St. Louis to win the corporate headquarters for the nation's largest railroad. Gephardt, the House...

Mercantile to sell Mo. State as part of Roosevelt deal. (Mercantile Bancorporation Inc.; Missouri State Bank and Trust Co.; Roosevelt Financial Group Inc.)
March 24, 1997... Just a few months after Missouri State Bank and Trust Co. was bought by Roosevelt Financial Group Inc., Missouri State once again is on the sale block. Mercantile Bancorporation Inc., which is buying Roosevelt for $1.07 billion, will find a...

Branching out. (interview with Magna Group Inc. CEO Thomas Andes)(Interview)
March 24, 1997... Magna's Tom Andes looks beyond Missouri, Illinois borders for growth A focus on retail banking and growth through acquisitions are the hallmarks of Magna Group Inc., the $6.7 billion bank holding company that entered the St. Louis market in...

Securities officials move to topple pyramid scheme. (Missouri)
March 24, 1997... The Missouri Commissioner of Securities in January issued a cease and desist order against at least four organizations operating pyramid schemes within the state. The groups are known as People Helping People; Friends Helping Friends; the...

Police yank $270 million from Boatmen's trust unit. (Boatmen's Trust Co.)
March 24, 1997... The St. Louis Police Retirement System of St. Louis has pulled nearly $270 million from an account at Boatmen's Trust Co. The move came less than one week after at least four institutional fund managers left the trust company. They include...

Local investors' $3 million brings imaging firm here. (NuParadigm)
March 24, 1997... A group of investors, including nine local businessmen, has put up $3 million to buy a document imaging software company and move it to St. Louis. Formerly headquartered in North Carolina, NuParadigm makes software tools for companies that...

SCOR program feeds growth of Rainforest with stock sale. (Small Corporate Offering Registration; Rainforest Co.)
March 24, 1997... John Huhn is feeding a $300,000 baby. He is president of the The Rainforest Co., a health-food distributor and marketer. The company has grown its sales, but it has also grown its inventories and the need for cash. Huhn founded The...

Mr. Goodcents projects serving up 75 sub shops. (Mr. Goodcents Subs and Pastas)
March 24, 1997... A 10-year veteran of the McDonald's Corp. wants his new restaurant chain to be nearly as prevalent as McDonald's in the St. Louis area. Mr. Goodcents Subs & Pastas has five restaurant franchises here, and a sixth location is set to open in...

Prince's purchase punctuates flurry of TWA stock trading. (Saudi Arabian prince; Trans World Airlines Inc.)
March 24, 1997... More than 11 million shares of Trans World Airlines stock sold during the week of March 10, up from 2.9 million the previous week. A Saudi Arabian Prince, Al Waleed Bin Talal Bin Abdulaziz Al-Saudi, bought 2.088 million shares, giving him 5...

LaSalle, other out-of-state banks vie for loan business. (LaSalle National Bank; Missouri)
March 24, 1997... Shakeups in the local banking industry spell opportunity for out-of-state financial institutions. At least five banks and other commercial lenders based outside of St. Louis have opened offices locally. They include National Canada Finance...

Banks raise balance on ad spending to $7.8 million.
March 24, 1997... The surge in St. Louis bank advertising that followed last year's frenzy of big bank mergers turned into a $7.8 million bonanza for local media companies. The financial institution ad blitz also shows little sign of letting up, said Mark...

Businesses charge managed care bill will drive up costs. (Missouri)
March 24, 1997... Efforts by Missouri business groups to force a compromise on legislation regulating the managed care industry appeared to be paying off, as the General Assembly opened debate on the issue. The Missouri House began debate Wednesday on House...

Friends' investment club grows $422,000 portfolio.
March 24, 1997... [TABULAR DATA OMITTED] A local investment club has been formed to provide money for start-up companies in the St. Louis area. The Can-Do Early Stage Venture Capital Investment Club L.C. enables its investor-members to pool their money to...

That's the rub. (VSM Abrasives Corp.)(Company Profile)
March 24, 1997... VSM's new management grinds out $30 million in sales Business Activity: VSM Abrasives was grinding along at a level pace four years ago when a new management team was brought in to breathe some life into the company. Since then, revenue has...

Burrus bringing business leaders 21st century toolbox. (Burrus Research Associates Inc.)
March 24, 1997... Daniel Burrus, founder and president of Burrus Research Associates Inc. in Milwaukee, is coming to Belleville Area College for the college's 50th anniversary with a tool box in hand. What's inside the tool box, however, aren't a hammer and...

Laclede Gas Co. (proxy report excerpts)(Company Profile)
March 24, 1997... Robert C. Jaudes Chairman, president and chief executive officer Laclede Gas Co. is a public utility engaged in the retail distribution of natural gas in eastern Missouri. The company also has made some investment in non utility businesses....

Scaled-down D'Arcy changes everything. (D'Arcy Masius Benton and Bowles Inc.)
March 24, 1997... Three years ago, D'Arcy Masius Benton & Bowles - the largest advertising firm in St. Louis - was closer to its Madison Avenue brethren in how it operated. Writers and artists could go weeks without talking to account executives and media...

The other shoe. (St. Louis Public School Retirement System)(Editorial)
March 24, 1997... One shoe has dropped. The decision by the St. Louis Public School Retirement System's trustees to reverse themselves on additional funding for a controversial investment demonstrates the board can operate in a reasonable fashion. Or, at...

UM-St. Louis arts center draws nearer. (University of Missouri)
March 17, 1997... A $49 million state-of-the art performing arts complex proposed for University of Missouri-St. Louis has moved a step closer to reality. Design plans on the building by world-renowned architects Pei Coob Freed & Partners in New York and St....

Solomon mines tight 40 corridor. (Solomon Brothers Realty Co.)
March 17, 1997... Plans $15 million office building Bert Solomon is not a gung-ho developer of office buildings. In fact, at a real estate gathering in July 1995, Solomon joked, "It's the pioneers who get the arrows in their backs." But since then,...

11 Mark Twain executives get bargain prices for stock. (Mark Twain Bancshares Inc.)
March 17, 1997... Eleven executives at Mark Twain Bancshares Inc. spent more than $1.8 million to buy about 86,000 shares of Mark Twain stock at bargain prices during a two-week period in January. The stock, worth nearly $4.8 million at the current market...

Song and dance: Shoe Shine Team puts polish on Express Scripts' trade show pitch. (All-American Shoe Shine Team; Express Scripts Inc.)(Business Meetings/Conventions/Banquets)
March 17, 1997... After spending thousands of dollars to buy space at trade shows. Express Scripts saw it had another challenge: persuading potential clients to stop and hear the pitch. The solution came with a small troupe, known as the All-American Shoe...

$12.5 million dining, music venue planned at Lemp site. (Lemp Brewery)(Business Meetings/Conventions/Banquets)
March 17, 1997... New life is brewing in the old Lemp Brewery compound in south St. Louis. L.B. Redevelopment L.P., made up of Houston investors Jim Goss and John Bailey, plans to transform the 1 million square feet of space into a restaurant/entertainment...

Remodeling tops menu at Christy, other banquet halls.(Business Meetings/Conventions/Banquets)
March 17, 1997... St. Louis, it seems, has a fondness for banquet halls. In a 10-mile stretch of Telegraph Road, for example, there are three banquet facilities. To stay competitive in a market this dense, renovating is a requirement, and a number of owners...

Port of entry status lifts Spirit of St. Louis. (airport)
March 17, 1997... Spirit of St. Louis Airport has been designated as a U.S. port of entry, meaning passengers on international flights can clear U.S. Customs at the airport 24 hours a day. Previously, international flights had to land at Lambert-St. Louis...

Climbing the revenue ladder. (M J Struckel)(Small Business)(Company Profile)
March 17, 1997... Aerial equipment lifts M J Struckel's sales to $7.5 million Business Activity: M J Struckel, an aerial equipment company, has been around for 51 years, but it's only been in the last couple of years that the business has experienced a big...

Spartech Corp. (Proxy Report Excerpts)(Company Profile)
March 17, 1997... Bradley Buechler President and chief executive officer Spartech Corp. is a leading producer of engineered thermoplastic materials, polymeric compounds, and molded products for a wide spectrum of manufacturing customers. The company reported a...

Cardinals go to bat for new stadium. (St. Louis Cardinals baseball team)
March 10, 1997... Baur: Talks to begin after mayor is elected The St. Louis Cardinals say it's time to start planning for anew baseball stadium. The team's owners think Busch Stadium, built for $54 million in 1966, probably still has 10 to 15 good years...

'The Working Group': Harmon's 4 advisers. (St. Louis, MO, mayor Clarence Harmon)
March 10, 1997... Crotzer, Jones, Berra, Mangogna led ex-police chief to victory They call themselves "The Working Group." They are the four businessmen who for years were the people Clarence Harmon turned to when he sought advice as St. Louis police chief....

BJC wanted Heimburger, Brussee out at Blue Cross. (BJC Health System)
March 10, 1997... The housecleaning at Blue Cross and Blue Shield of Missouri came after pressure from BJC Health System. Blue Cross' new uncontested leader, John O'Rourke, is also a favorite of BJC President Fred Brown. O'Rourke's appointment is seen as a...

Natural gas-powered cars gaining popularity in area. (Kansas City Metropolitan Area)
March 10, 1997... Forget about solar- and electric-powered cars. Local city and airport officials say natural gas is potentially the most environmentally acceptable and economic alternative fuel and they're putting it to the test. Kansas City's Water Services...

MCI to take on Sprint Spectrum. (MCI Communications Corp.'s contract with personal communications services provider Nextwave Telecom Inc.)
March 10, 1997... Long-distance giant MCI Communications Corp. last week acted quickly to become the third largest provider of personal communications services in the country and a direct competitor to locally based Sprint Spectrum. MCI agreed to buy 10...

Eveready: SW Bell boss throws himself into projects as if he's driven. (Southwestern Bell; Ray Wilkins)
March 10, 1997... When Ray Wilkins looks southwest from his 13th-floor office window, he cannot tell where Missouri ends and Kansas begins. He sees no freeway, waterway nor railroad to demarcate the state line between Jackson and Johnson counties. What he does...

SIUE engineering school to go on line in three years. (Southern Illinois University at Edwardsville)
March 10, 1997... After a 10-year wait, Southern Illinois University at Edwardsville finally is getting its new Engineering School building. The Illinois Legislature approved a bond authorization last month that will allow the state Capital Development Board...

RCGA nears 50% of goal to create 100,000 new jobs. (St. Louis Regional Commerce & Growth Assn.)
March 10, 1997... St. Louis is ahead of schedule on its plan to bring 100,000 jobs here by the year 2000. That's what statistics show from the St. Louis Regional Commerce & Growth Association, the group spearheading the charge. Yet of the estimated 43,500 new...

Maryland Heights to get $4.5 million from casino. (St. Louis County, MO, municipality)
March 10, 1997... If Maryland Heights City Administrator Mark Levin had a welcome mat summing up the municipality's approach to economic development, it would read something like this: "All projects, good or bad, will be considered, and we won't keep you...

Build Missouri program lets Mayflower dock here. (Mayflower Transit Inc.)
March 10, 1997... When Robert Baer, president of UniGroup Inc., announced on Jan. 3 that the company would bring the headquarters of its Mayflower Transit Inc. subsidiary to Fenton from suburban Indianapolis - and with it, 500 new jobs - Beer was straightforward...

The Brownfields agenda: EPA program could bring new life to urban industrial wastelands.(Focus on Environment)
March 10, 1997... Money from the federal government could provide the impetus for reviving some of the most forsaken parts of the metropolitan area. A $200,000 grant from the Environmental Protection Agency is designed to plant the seeds for for growing...

Curbside recycling: it's been a long time coming, but the wait may soon end. (Kansas City's recycling program)(Focus on Environment)
March 10, 1997... A large package arrived last week for Scott Cahail in the Kansas City office of Environmental Management. It contained a large, red, plastic bin. Cahail, the office's assistant director, has received an assortment of bins as the city...

Ferguson TIF Commission passes $25 million project. (tax increment financing commission)
March 10, 1997... The city of Ferguson's tax increment financing commission recommended unanimously March 3 that the City Council approve TIF funding for The Crossings at Halls Ferry. Meanwhile, DESCO Group has put its plans for a $60 million,...

Avoiding the courts: alternative dispute resolution becomes a cost-saving way to manage cases for EPA.(Focus on Environment)
March 10, 1997... Superfund. Its mention brings to mind a laborious process with two to 1,200 or more parties going to court to determine the who and how much of an Environmental Protection Agency toxic waste case. Discovery, case management hearings, a year of...

The right prescription. (Easy Returns Worldwide, Chesterfield, MO)
March 10, 1997... Easy Returns makes expired drugs into $4 million business Business Activity: When Stephen Mogil was working at a pharmacy on the East Coast in 1984, he noticed that piles of expired drugs were the last thing anyone took time to go through....

Transitional leader: career counselor helps clients find jobs they will like and can master. (Career Management Center President Janice Benjamin)(Strategies in Small Business)
March 10, 1997... Hanging out your shingle as a management consultant may seem like the perfect mid-career move. You'd be able to call your own shots and work with, but not for, high-level companies. But career counselors warn that, unless you've developed a...

MasterCard charges toward new campus. (MasterCard International Inc.)
March 3, 1997... MasterCard International Inc. is considering running up a big charge on its St. Louis real estate account. The charge card company is looking to build a 300,000-square-foot campus to house its service and data center, according to local real...

Bread Co. bakes expansion; 45 new stores in '97, rising to 500 by 2000. (St. Louis Bread Co. Inc.)
March 3, 1997... With a year of intense planning under its belt and dozens of copycats nipping at its heels, Saint Louis Bread Company is ready to roll out an ambitious expansion plan. In the next year, the 62-store bakery cafe chain, known for its sourdough...

Washington U. nabs $162 million in federal health grants.
March 3, 1997... Washington University School of Medicine has climbed to third place on the list of medical schools nationwide that receivesupport from the National Institutes of Health (NIH). The medical school got funding for 573 grants and contracts...

Club owner wants to dock Silver Eagle at East St. Louis. (Silver Eagle Casino)
March 3, 1997... Nightclub owner Larry Mazzuca is talking to the owners of the Silver Eagle Casino about moving the struggling riverboat to the East St. Louis riverfront. The casino, currently located on the outskirts of East Dubuque, Ill., would anchor...

Flower power: Florists' Mutual blossoms as leader in floral insurance market. (Florists' Mutual Insurance Co.)(Insurance/Workers' Comp)
March 3, 1997... An insurance company in Edwardsville, Ill., has grown into the biggest player in its niche insuring florists and greenhouses. "If you look up niche marketer in the dictionary, you would probably see our logo," said John Hodapp, senior vice...

Dick Liddy: 97 deals worth $22 billion in past two years. (General American Life Insurance Chmn. Dick Liddy)(Insurance/Workers' Comp)
March 3, 1997... General American Life Insurance Co. could issue stock tomorrow. A Missouri law passed late last year gives the state's biggest insurance firm that power. But don't count on it happening soon. "Our current capital structure is more than...

Mercantile Bank raises $150 million in two days. (Mercantile Bancorporation Inc.)
March 3, 1997... Trust preferred securities are among the hottest items going right now for St. Louis banks. Mercantile Bancorporation Inc. raised $150 million in just two days last month by selling the securities. Mercantile will use the money to help pay...

$I million policy would cost Blues' Campbell $6,000. (St. Louis Blues' player Jim Campbell)(Insurance/Workers' Comp)
March 3, 1997... Jim Campbell is a leading candidate to be the National Hockey League's Rookie of the Year for the 1996-97 season. But he's also only one big hit away from never playing hockey again. That's why Colin Fairlie says the St. Louis Blues right...

Dierberg's, Schnucks go back to future for backs.(Insurance/Workers' Comp)
March 3, 1997... For local supermarkets, the future is in the past. By this spring, the last of the area's modern "checker-unload" checkstands will be converted to the old-style customer-unload configurations. The multimillion-dollar transition will bring...

Firefighters burned by change in workers' comp bill.(Insurance/Workers' Comp)
March 3, 1997... Moonlighters beware. A new provision in the Missouri workers' compensation laws may hurt you if you have an accident at your second job. Under the new provision, a person who works a full-time job and an evening job who gets hurt at the...

Dominion stakes Fenton for 106-room hotel. (Dominion Hospitality LLC; Fenton, Missouri)
March 3, 1997... The city of Fenton is staking a claim for small, limited service hotels. One of the latest entrants to the hotel market there is Dominion Hospitality LLC, which is building a $4.6 million, 106-room Fairfield Inn at the Fenton-Weiss Business...

Clayton home of DEA purchased for $5 million. (Clayton, Missouri; Drug Enforcement Administration)
March 3, 1997... The Clayton home of the U.S. Drug Enforcement Administration has a new owner, which is handcuffed by the presence of the federal agency. The DEA's building at 7911 Forsyth Blvd. recently went through foreclosure after the former owners...

No-tail-rotor choppers land lower rates.(Insurance/Workers' Comp)
March 3, 1997... McDonnell Douglas helicopters with No-Tail-Rotor Systems are so much safer than helicopters with traditional tails that their owners are getting breaks on their insurance premiums. McDonnell Douglas Helicopter Systems hired Advanced Aviation...

Cardinals market to blacks with Wash. U students' help.
March 3, 1997... Black attendance at St. Louis Cardinals games is improving, but is still short of the team's goal and the national average, according to the findings of four Washington University graduate students. The students - Jessica Bailey, Greg Good,...

Alliance combines workers' comp, group health plan. (Alliance Blue Cross Blue Shield)(Insurance/Workers' Comp)(Directory)
March 3, 1997... The idea of combining workers' compensation insurance with that of a group health plan is gaining recognition - albeit slowly - among Missouri employers. The goal of 24-hour insurance is to combine a company's group health plan with a...

BJC, St. Louis Health Care Network shuffle ad work.
March 3, 1997... St. Louis' two largest hospital groups - BJC Health System and St. Louis Health Care Network - have named new advertising firms. That move could signal the local health-care battle is shifting from hospital consolidations to winning over the...

Physicians saving up to 35% on malpractice premiums.(Insurance/Workers' Comp)(Directory)
March 3, 1997... Nearly 1,500 physicians who are employed by the St. Louis Health Care Network or who belong to the network's Physician Hospital Organization are about to get a big break on their medical malpractice insurance premiums. Beginning this month,...

SLU among group investing nearly $1 million in MRI lab. (St. Louis University, MO)
March 3, 1997... St. Louis University is among a group of investors that wants to bring a magnetic resonance imaging device for children, obese and claustrophobic people to the area. The university holds a 5 percent stake in Opensided MRI of St. Louis LLC....

Photographic Resources develops $1 million business.(Small Business)(Company Profile)
March 3, 1997... Stock art agency's offerings stress the artful, unpredictable EMERGING COMPANIES Photographic Resources 6633 Delmar Blvd. University City, Mo. 63130 Business Activity: Photographic Resources is the only international photo agency in...

Looking back at fair gives reference point for future. (1904 World's Fair in St. Louis, MO)
March 3, 1997... "The feast is over, the lights extinguished and the music stilled. In the city of joy and light and music there is naught but the silence of desolation." So mourned the St. Louis Republic the weekend after the 1904 World's Fair closed. The...

LaBarge Inc. (Proxy Report Excerpts)(Company Profile)
March 3, 1997... Craig E. LaBarge Chief executive officer and president LaBarge Inc. designs and manufactures electronic products and devices for the telecommunications, medical, oil and energy and aerospace and defense industries. The company reported a...

Robinson's legacy. (baseball player Jackie Robinson)(Editorial)
March 3, 1997... History is a demanding master and, sometimes, an unforgiving one. A generation ago the notion of two prominent black politicians battling for the Democratic nomination for mayor of St. Louis would have seemed a significant step toward a...