Houston Business Journal articles from April 2000

Houston Business Journal archives from April 2000

New building, but no tax breaks.(Sonangol plans headquarters building in Houston)(Brief Article)
April 7, 2000... Angola oil company drops abatement request, buys land to construct HQ Sonangol, the national oil company of Angola, has abandoned an attempt to seek out a tax abatement for a new headquarters building and has decided to proceed with...

Story-book beginning.(Questia Media Inc.)(Company Profile)
April 7, 2000... Questia founder follows novel script to launch online college library Hours after Rod Canion heard Troy Williams describe his business plan, the co-founder of Compaq Computer. Corp. called, the entrepreneur to invest in the Internet...

Nasdaq tremors shatter local tech stocks.(Brief Article)
April 7, 2000... Less than a nickel has cost BindView Corp. about $1 billion. The Nasdaq-traded information technology solutions provider picked the wrong day to announce disappointing earnings. The Houston-based company's bombshell came Monday, coinciding...

Investors bid for 22 buildings.(22 office buildings in The Woodlands, Houston, TX)(Brief Article)
April 7, 2000... A group of former Hines executives now working with Atlanta-based The Brookdale Group has signed a contract to purchase a cluster of 22 office buildings in The Woodlands. The investment group negotiated the contract to buy the buildings...

Detroit punts, Houston ready to receive.(Houston likely to host the 2004 Super Bowl)(Brief Article)
April 7, 2000... Houston appears to be the favorite to land the 2004 Super Bowl after Detroit officials tabled their bid for the game, probably until 2006. Houston National Football League franchise owner Bob McNai who bought the league's 32nd team for...

Art car event stars Buick and the beast.
April 7, 2000... The Plastic Fantastic, a 1972 Buick convertible, will lead the caravan of art cars at this year's Pennzoil Art Car Parade 2000. Using a wide variety of sizes, shapes and colors, the car is covered with a mosaic of Pennzoil packaging...

Northwind bows in to chill out lawyers.
April 7, 2000... Question: How much cold air does it take to counteract the hot air generated by a building full of lawyers? Answer: 825 tons. That's the capacity of chilled water in the air conditioning system South Texas College of Law has contracted to...

Where's the beef? Between KRBE, PETA.
April 7, 2000... What does local radio station KRBE have in common with the U.S. dairy industry and the rest of carnivorous civilization? The wrath of People for the Ethical Treatment of Animals. PETA. the radical vegetarian group based in Virginia, took...

The Ainbinder Co.(new restaurant Pesce planned in Ainbinder's new Centre at River Oaks shipping center)(Brief Article)
April 7, 2000... Houston restaurant veterans Johnny Carrabba and Damian Mandola are cooking again. The pair that founded Carrabba's and Damian's are reuniting to launch a new seafood restaurant concept called Pesce. Pesce will occupy 7,500 square feet...

Denis' Seafood House.(Brief Article)(Statistical Data Included)
April 7, 2000... The seafood concept seems to be swimming with another such planned opening in Houston. The owners of Denis' Seafood House have opened a new restaurant near Willowbrook Mall called Babin's Seafood House. The restaurant is serving up seafood...

Boulevard Bistro.(new Houston restaurant)(Brief Article)(Statistical Data Included)
April 7, 2000... Another newcomer with a deep-rooted Houstonian as its owner is 43 Brasserie, launched by Houston restaurateur and chef Monica Pope. Pope, who also owns Boulevard Bistro, has opened 43 Brasserie at 4315 Montrose. The restaurant bills itself...

Anadarko blows in to purchase larger Union Pacific Resources.(Brief Article)(Statistical Data Included)
April 7, 2000... Anadarko Petroleum Corp.'s proposal this week to acquire Union Pacific Resources was the second stage of a one-two knockout blow for many of UPR's employees in Fort Worth. First, their 40-story building in downtown Fort Worth was heavily...

Developer pitches plan to put up high-rise condos near Enron Field.(Brief Article)(Statistical Data Included)
April 7, 2000... Lutfak slates 117 units for Ar'talia on Rusk A 25-story high rise residential tower with backyard views of Enron Field has been blueprinted for Downtown's burgeoning entertainment district. Houston developer Sam Lutfak of GOYA...

Bodyflash.com lures new investors, sets music deal in motion.(Brief Article)(Statistical Data Included)
April 7, 2000... Houston online jeweler Bodyflash.com is adding to its list of big name business backers - while inking a deal to target a younger, hipper market. This week, the cyber retailer announced that it has sold an undisclosed equity stake to...

Fore! First Houston country club in 50 years breaks ground.(Brief Article)(Statistical Data Included)
April 7, 2000... Dirt has been turned on what will become the first country club to be built inside the Houston city limits in 50 years. The 10,400-square-foot sports club portion of the planned Royal Oaks Country Club went under construction on April 1 and...

After building ballpark, Rains sells tickets.(Jack Rains, online ticket vendor)(Brief Article)
April 7, 2000... As former chairman of the Harris County-Houston Sports Authority, Jack Rains helped build a new ballpark for the Houston Astros. And with his latest business venture, Rains could be selling tickets to their home games at Enron Field. Rains...

Busy Ainbinder buys land for retail center.(Ainbinder Co., land development, West Houston, Texas)(Brief Article)(Statistical Data Included)
April 7, 2000... Houston-based The Ainbinder Co. is on a roll. The company has purchased 20 acres of land in West Houston for development of a 200,000-square-foot shopping center to be anchored by K-Mart. The acquisition price of the land, which was...

Hanover reacts to apartment glut, rising rates with employee layoffs.(Brief Article)(Statistical Data Included)
April 7, 2000... Officials at Houston's Hanover Co. have cut the 300-person firm by almost 10 percent. Karen Thomas, Hanover's director of human resources, says about 20 local employees were laid off last week as part of a restructuring program. ...

Midway Companies.(new plant, TurboCare)(Brief Article)(Statistical Data Included)
April 7, 2000... Houston-based Midway Companies has broken ground on an $8 million plant for TurboCare, a division of Demag Delaval Turbomachinery Corp. and part of Mannesmann Corp. The 135,000-square-foot parts and service center will be built on a 23acre...

Westwood Technology Center.(Alegis Group, office buildings, Houston)(Brief Article)(Statistical Data Included)
April 7, 2000... The Westwood Technology Center has nabbed its first tenant after being vacant for more than a year. Houston-based Alegis Group, a contract call center, will take 33,000 square feet of space in the northeast quadrant of the center. The call...

Simpkins Group.(office buildings, Houston, Texas)(Brief Article)(Statistical Data Included)
April 7, 2000... The Houston-based Simpkins Group has purchased the 4545 Post Oak Place building. Transwestern Investment Co., the seller, was represented by Rudy Hubbard, Randy Strait and Charles Scoville of Transwestern Commercial Services. The...

Schwab selects Austin over Houston for giant call center.(Charles Schwab and Company Inc.)(Brief Article)
April 7, 2000... Austin has edged out Houston and Dallas as the site of a huge, call center for Charles Schwab & Co., the largest discount securities brokerage in the world. For months, San Francisco-based Charles Schwab has been conducting a Texas-wide...

International Bancshares Corp.(in-store banks, Albertson's Inc.)(Brief Article)
April 7, 2000... Laredo-based International Bancshares Corp. plans to open 10 branches inside Albertson's grocery stores in Houston during the next 12 months. The expansion marks the in-store debut for IBC in the Houston market. And the 10 supermarket...

Compass Bank-Houston.(recruitment, Compass Bancshares Inc.)(Brief Article)
April 7, 2000... Compass Bank-Houston is importing talent from its Birmingham, Ala. based parent company. Donald J. DiPlacido, former senior vice president for the Birmingham flagship of Compass Bancshares, has been promoted to executive vice president...

Chase Bank of Texas.(financial rating)(Brief Article)(Statistical Data Included)
April 7, 2000... Chase Bank of Texas, the Houston-based unit, of giant Chase Manhattan Corp., has West Texas jewel in its Lone Star crown. Bank rating firm Veribanc Inc. on March 21 . ranked the Chase-Texas branch in San Angelo as the U.S. banking...

Patrick Henry picks up account to handle Hilton hotel restaurants.(Brief Article)
April 7, 2000... Patrick Henry Creative. Promotions can sleep a little easier. The local agency landed an account last week with Hilton Hotels Corp. and renewed two other accounts this month. The three represent a total of about $4 million in annual...

Merger Communications.(is accepting equity for media and investor relations services)(Brief Article)
April 7, 2000... Advertising and public relations is following closely behind other service-oriented companies in adjusting to the way high-tech firms do business. Merger Communications, a locally based media and investor relations firm that specializes in...

Dallas Baker.(Brief Article)
April 7, 2000... Two local advertising veterans have teamed up with one of Houston's entrepreneurial minds to create Push, a small full-service advertising agency. Dallas Baker heads up account services and writes for the trio. Guy Kirkland is the art...

Barrios Technology.(Brief Article)
April 7, 2000... Barrios Technology of Clear Lake, an engineering firm that contracts with NASA, has selected the firm of Vosburg de Seretti to handle some unique projects. The job includes Web site improvements, a new design for corporate brochures, a...

The Public Relations Society of America-Houston.(Brief Article)
April 7, 2000... The Public Relations Society of America-Houston will deliver its Excalibur Awards on April 12. The American Advertising Awards -- ADDYS -- for the 10th district are April 14. The envelope please: Although Oscar time is over, the awards are...

Accounting firm puts intellectual property marketplace online.(PricewaterhouseCoopers' Intellectual Property Exchange)(Brief Article)
April 7, 2000... Buyers and sellers or intellectual property have a way to find each other on the Internet through the Intellectual Property Exchange developed in Houston by PricewaterhouseCoopers. And while individual subscribers have had access to the...

BMC Software Inc.(instituting a money-back guarantee on some of its services)(Brief Article)
April 7, 2000... BMC Software Inc. is instituting a money-back guarantee on some of its services -- a move it calls a first in the industry. Houston-based BMC wants to capitalize on its ability to provide fast effective service by offering a guarantee for...

Nuforia Inc.(merging with Red Sky Interactive)(Brief Article)
April 7, 2000... Nuforia Inc. announced last week that it will merge with New York-based Red Sky Interactive. Nuforia, with a number of Houston employees, claimed to have a virtual headquarters with executives located in several cities. The e-business...

Potential profits outweigh paltry penalties in office supply fraud.(Brief Article)
April 7, 2000... The Federal Trade Commission recently slapped a $500,000 fine against Ultra Ribbons, a company with 700 tele-marketers selling computer ribbons, printer cartridges and other office supplies from a Southern California boiler room. The Ultra...

Clinton, Congress agree on stock options bill.(Brief Article)
April 7, 2000... Secretary of Labor Alexis Herman traveled to Capitol Hill to endorse legislation that would overturn her department's ruling that profits from stock options must be included when calculating overtime pay for rank-and-file employees. Many...

Bill gives small businesses tax break for software.(Brief Article)
April 7, 2000... Small businesses could immediately deduct the full cost of software instead of writing it off over three years under legislation introduced by Rep. Christopher Cox, R-Calif. Current law governing software purchases requires businesses to...

More businesses may soon get interest on checking.(ban on business checking account interest targeted by US House Banking Committee)(Brief Article)
April 7, 2000... Banks would be allowed to pay interest on business checking accounts under legislation passed by the House Banking Committee. Small business groups and community banks wanted to repeal the prohibition on interest-bearing business checking...

Have workers push China, Armey tells manufacturers.(House Majority Leader Dick Armey says small manufacturers need to enlist their employees in the lobbying effort for permanent normal trading relations with China)(Brief Article)
April 7, 2000... House Majority Leader Richard Armey, R-Texas, says small manufacturers need to enlist their employees in the lobbying effort for permanent normal trading relations with China. It would be particularly helpful to "have your unionized...

Amusement parks have provided 100 years of fun for Houstonians.(Brief Article)
April 7, 2000... Amusement parks have always been popular in Houston. While the definition and scale of amusements may have changed through the years, the fact that Houstonians enjoy leisure-time fun has remained constant. The first amusement park to carry...

Program error.(Brief Article)
April 7, 2000... Visitors to the first three games of play at Enron Field finally got a look at the much-heralded architecture and design. But in case they forgot how grand the ballpark was, the official commemorative program was there to remind them. ...

Look for the ones with picks and shovels.(Microsoft Inc.)(Brief Article)
April 7, 2000... Most giant industries go through an early process of growing pains. Chaotic birth is followed by a period of wild speculation. Next comes a process of consolidation, where the small fish are swallowed by predatory sharks to create corporate...

Energy policy low priority in presidential debate.(Brief Article)
April 7, 2000... You wouldn't know it from listening to either Al Gore or George W. Bush on the campaign trail, but there is such a thing as energy policy, and the next president is going to have to face it. OPEC's unseemly Intrusion into our nation's economy...

LETTERS TO THE EDITOR.(Brief Article)
April 7, 2000... Higher volume The March 17 "Tech Now: Energy" section provided thorough coverage of the industry. and Amerex appreciates being included in the report. Just to clarify for readers. the chart entitled "Top Energy Traders in Houston"...

[CO.sub.2] operations. Kinder Morgan Energy Partners LP.(acquires Shell CO2 Co.)(Brief Article)
April 7, 2000... [CO.sub.2] operations. Kinder Morgan Energy Partners LP announced that it has completed its acquisition of an additional 80 percent interest in Shell [CO.sub.2] Co. Kinder Morgan Energy now owns 100 percent of the company, which will be renamed...

Contract extensions. The Coastal Corp.'s ANR Pipeline Co.(Brief Article)
April 7, 2000... Contract extensions. The Coastal Corp.'s ANR Pipeline Co. subsidiary and Alliant Energy's Wisconsin Power & Light Co. subsidiary have agreed to extend to 2003 and 2010 multiple natural gas transportation and storage service agreements that were...

Brazil bound. Houston InterWeb Design.(Brief Article)
April 7, 2000... Brazil bound. Houston InterWeb Design says it's in the process of setting up a joint venture in Brazil to capitalize on the country's rapidly growing market for Internet infrastructure-related services. The company's subsidiary, InterWeb, will...

Expansion plans. Seaway Pipeline Co.(Brief Article)
April 7, 2000... Expansion plans. Seaway Pipeline Co., a general partnership between subsidiaries of ARCO and Phillips, has recently completed expansion projects. Under the expansion efforts, two new storage tanks were constructed at the company's Jones Creek...

European operations. Duke Energy International and Exxon-Mobil.(Brief Article)
April 7, 2000... European operations. Duke Energy International and Exxon-Mobil say that a DEI affiliate will acquire European gas trading and marketing company Mobile Europe Gas Inc. from Mobil Corp. Once the deal is closed, Mobil Europe Gas will become Duke...

Environmental services. Synagro Technologies Inc.(Brief Article)
April 7, 2000... Environmental services. Synagro Technologies Inc., a provider of residuals management services, has closed the acquisitions of Hugo, Minn.-based Rehbein Inc. and the biosolids operations of Whiteford Environmental Services, based in Whiteford,...

Sempra Energy Solutions.(Brief Article)
April 7, 2000... Energy contract. Energy-service contractor Sempra Energy Solutions has signed an $85 million, three-year contract to offer energy-efficiency services to facilities associated with Premier Inc., a purchasing alliance serving 1,800 non-profit...

Brokerage acquisition. ITEX Corp.(Brief Article)
April 7, 2000... Brokerage acquisition. ITEX Corp., based in Portland, Ore., has inked a deal to acquire independent licensed brokerages in Houston and Seattle, Wash. The deal is expected to increase the enrollment of new members. ITEX is a retail trade and...

Joint venture terminated. Equilon Pipeline Co. LLC.(Brief Article)
April 7, 2000... Joint venture terminated. Equilon Pipeline Co. LLC, a subsidiary of Equilon Enterprises LLC, and a unit of Williams have ended their joint venture to develop a refined products pipeline system from West Texas to the Salt Lake City area. The...

Stock offering.(Company Grey Wolf Inc.)(Brief Article)
April 7, 2000... Stock offering. Oil and gad land drilling services Company Grey Wolf Inc. says, it is offering 13 million shares of its common stock in an underwritten offering at a net price of $4 per share. The company expects to close the offering April...

Energy consortium. Reliant Energy.(Brief Article)
April 7, 2000... Energy consortium. Reliant Energy is part of a consortium of 15 leading U.S. electric and gas companies planning to launch an Internet marketplace to serve as a business-to-business exchange between the energy industry and its suppliers this...

SMALL BUSINESS NEWS.(Bank of America Corp.)(Brief Article)
April 7, 2000... Bank of America has selected Houston as one of 11 regional and national private equity funds to provide more than $100 million in funding to invest in women-owned, minority-owned and small businesses. The funding is expected to create more than...

The reel world.(Gordon Video Productions)(Brief Article)
April 7, 2000... National clients have kept Gordon Video Productions in the picture Karen Gordon was born in Burbank, Calif., not far from the bright lights of Hollywood. And though she left California, Gordon still ended up in the television business. ...

Employees need to make companies aware of the value of experience.(Brief Article)
April 7, 2000... When someone over the age of 40 is downsized, rightsized or fired, there is a natural tendency to blame someone or something. After all, haven't you given some of the best years of your life to the company? Now lets see what the facts of...

Texas banks broaden horizons by entering the insurance game.(Frost National Bank acquires Wayland Hancock Insurance Agency Inc.)(Brief Article)
April 7, 2000... Banks only recently got the call to become first-string players in the insurance game, and at least two banks with a strong Houston presence are stepping up to the plate. Several others are also entering the game. The Gramm-Leach-Bliley...

Pension policy: Employers don't save with hybrid plans.(Statistical Data Included)
April 7, 2000... The typical company realizes little, if any, pension cost savings when it shifts from a traditional, pension to a cash balance or other hybrid plan design, according to a comprehensive new study by Watson Wyatt, a human resources consulting...

Tips and taxes: Rulings affecting hospitality industry.(Brief Article)
April 7, 2000... In food and beverage establishments, a large part of the food server compensation is paid in tips. The food service employees report tips they have received to the employer, who withholds employment taxes on the reported tips from the employee...

The Internet is valuable tool for the disciplined investor.(Brief Article)
April 7, 2000... With its ever-increasing wealth of information, the Internet can be a valuable investing resource for investment professionals as well as individuals. The Internet provides easy access to account information, volumes of investment research...

Raising capital in U.S. markets different for foreign firms.(Brief Article)
April 7, 2000... The need for capital to fuel global expansion has propelled many foreign companies to the U.S. capital markets. Selling securities in the United States can be a daunting and difficult objective. Entering the U.S. markets is often a watershed...

LARGEST HOUSTON-AREA MORTGAGE LENDERS.(Brief Article)(Statistical Data Included)
April 7, 2000... LARGEST HOUSTON-AREA MORTGAGE LENDERS (Ranked by Total Number of Loans for Harris County [*]) Rank Lender Name Number of Loans Amount 1...

Factoring can help company get cash flowing.(Brief Article)
April 7, 2000... There was once a businessman who had a successful business but who was always short of working capital because his business was growing so fast and his customers were slow to pay. He called his banker to find out what a business loan would...

SBA Houston-Area Certified Lenders.(Brief Article)
April 7, 2000... SBA Houston-Area Certified Lenders PHONE LENDER CONTACT NUMBER Allied Capital SBLC Corp. [*] ...

Fulfill entrepreneurial dream with jump-start from the SBA.
April 7, 2000... As the current economic expansion continues to set records, its beneficiaries are numerous. Employees are earning higher compensation packages as the unemployment rate hovers at its lowest level in three decades. Consumers have more disposable...

Use common sense to balance market's irrational exuberance.
April 7, 2000... "Greed is good!" Or so says Gordon Gekko in the movie "Wall Street" and Seth Davis in "Boiler Room." In reality, though, art imitates life. Americans don't have to see these movies to realize that we are living in greed-oriented times. Popular...

Three factors affect volatility of portfolio's individual bonds.(Brief Article)
April 7, 2000... Fixed income securities, or bonds, are generally considered to be more conservative investments than equities, with less price volatility, but the market value of fixed income securities varies. Similar to most financial markets, there are...

PEOPLE ON THE MOVE.
April 7, 2000... ARCHITECTURE & DESIGN DesignCare Inc. has added Daniel Ramos and Jim Walton to architectural services. David W. Lestige has joined Clark Condon Associates Inc. as senior associate. House Reh Burwell Architects has promoted Lee W....

Associated Builders and Contractors of Greater Houston.(Brief Article)
April 7, 2000... The Associated Builders and Contractors of Greater Houston has been named the Volunteer of the Year for 1999 by Habitat For Humanity at their Habitat For Humanity Tribute to Volunteerism awards ceremony. The award was presented the ABC for its...

New England Financial.(Brief Article)
April 7, 2000... New England Financial's Houston firm has earned the 1999 Professional Growth Award EAGLE Award. The award is granted by The American College as a means of recognizing those life insurance and financial services agencies that have demonstrated...

Earnings.(Statistical Data Included)
April 7, 2000... Earnings INTERSYSTEMS INC. 4th Qtr. ended Dec. 31 1999 1998 revenue in 1,000s 4,146 3,138 net income (loss) in 1,000s (45) 20 per share ...

Positive performance: On-the-job optimism ranks high with bosses.(Brief Article)
April 7, 2000... How positive is your attitude. at work? The answer could be significant. As businesses today become more team-driven, companies are increasingly looking to their employees to motivate, encourage and inspire one another. In fact, in a recent...

International group targets Houston to promote local franchise ownership.(Brief Article)
April 7, 2000... The International Franchising Association has selected Houston as one of five cities for the establishment of a local Franchising Business Network to mobilize franchise business leaders. Issues topping the 2000 agenda include the federal...

Oil and gas majors up online ante.(Brief Article)(Statistical Data Included)
April 14, 2000... Energy industry giants create competition in e-commerce marketplace A group of major oil, gas and petrochemical companies led by Royal Dutch/Shell Group and BP Amoco has announced plans to launch an Internet-based marketplace for the global...

Lucksinger HMO to buy struggling AmeriHealth.(health maintenance organization)(Brief Article)(Statistical Data Included)
April 14, 2000... The Houston HMO founded a year ago by health care power player Tom Lucksinger is in the process of buying struggling AmeriHealth HMO of Texas Inc., just weeks after two of its top officers left the company. Lucksinger served as CEO of...

Keeping up with the Nabors.(Nabors Industries)(Brief Article)(Statistical Data Included)
April 14, 2000... Drilling firm execs cash in with $200 million in stock sales The chairman of Nabors Industries Inc. and two other top executives recently sold about 7.5 million shares of the Houston-based oil and gas drilling company -- combined stock...

Parking Spot lands at airport lots.(Brief Article)(Statistical Data Included)
April 14, 2000... The Parking Spot of Chicago has paved its way into Houston by opening two new off-airport parking lots at Houston Hobby and Bush Intercontinental airports. The company recently purchased a parking lot, formerly operated by Advanced...

A different kind of diversification.(University of Texas M.D. Anderson Cancer Center)(Brief Article)(Statistical Data Included)
April 14, 2000... The University of Texas M.D. Anderson Cancer Center wants to be different. The hospital has created a new position -- vice president for international diversity -- in an effort to foster diversity among employees, patients and families,...

News from the food and drink front.(Brief Article)(Statistical Data Included)
April 14, 2000... Ruby Tuesday, which came charging into the Houston market just a few years ago, has been slowly pulling out of the restaurant-laden city and is now getting a chili reception. One of the restaurant's prime former locations has been snatched...

Mission Burritos.(to offer breakfast menu)(Brief Article)(Statistical Data Included)
April 14, 2000... * A pair of Houston restaurants are hoping that the early bird really does get the worm. Both Mission Burritos and Berryhill Tamales and Tacos have added breakfast menus in an effort to appeal to morning people. Mission Burritos owner...

Houston Business Journal expands Web site to signify new direction.(Brief Article)(Statistical Data Included)
April 14, 2000... The Web site for Houston Business Journal is expanding its content and usefulness under a new name - www.bizjournals.com/houston. "This is a new name for our new direction on the Internet," says Ray Shaw, chairman of American City Business...

HBJ staffers win six Press Club awards.(Houston Business Journal)(Brief Article)(Statistical Data Included)
April 14, 2000... Seven current and former Houston Business Journal staff members took honors at last week's Press Club of Houston Excellence In Journalism Awards Ceremony. Competing in the under 100,000 circulation category against other Houston-area...

Universal Compression launches bid to raise $172.5 million in IPO.(Brief Article)
April 14, 2000... Local company seeks cash to pay down debt load of more than $360 million Houston-based Universal Compression Holdings Inc. is seeking to raise $172.5 million in an initial public offering -- most of Which will go toward paying off debt....