Houston Business Journal articles from December 1998

Houston Business Journal archives from December 1998

Enron dives into management arena: fledgling division lands key contracts to oversee services at prime facilities.(Enron Facilities Services)
December 4, 1998... The rapidly diversifying Enron Corp. has entered the facilities management business in a big way. The giant Houston-based energy company has signed major management contracts with a pair of high-profile national clients. Enron will oversee...

Another round for downtown: nightlife rebound lures new surge of restaurants, clubs.(Houston, TX)
December 4, 1998... A second wave of restaurants and nightclubs is hitting downtown at a furious pace, reinforcing the Central Business District's status as a rejuvenated dining, dancing and entertainment hub. Last year marked the year of downtown's nightlife...

Exxon and Mobil: biggest merger no big surprise.
December 4, 1998... Industry changes led oil giants to $80 billion union The $80 billion merger between Exxon Corp. and Mobil Corp. came as no surprise to many, given the sweeping consolidation in the oil industry. It's just another merger, albeit huge,...

Downturn in IPO activity aids growing Nationwide Graphics.(initial public offering)
December 4, 1998... Consolidator follows 'buy and build' strategy in plan to go public A slowdown in initial public offerings may turn out to be a blessing in disguise for Nationwide Graphics, a new Houston-based consolidation company in the commercial...

Koll adds three more buildings to local portfolio.(Koll Bren Realty Advisors' acquisition of an office building on Houston, TX)
December 4, 1998... Downtown tower next for California firm A California investment firm on an extended buying binge has acquired The Charles Brown Law Firm building on the West Loop and two other properties in Clear Lake. The latest acquisitions by Koll...

Chanel no. 16: retailer opens stand-alone boutique in The Galleria.(new Chanel boutique in Houston, TX)
December 4, 1998... Coco Chanel introduced the little black dress and signature scarf to twentieth century women. Now Chanel is introducing its first free-standing boutique to Houston. The Chanel Boutique is set to open Dec. 8 in about 9,600 square feet of...

Tangible assets: Lapin & Wigginton pitches investment alternatives with series of special agreements.(Lapin & Wigginton Asset Management)
December 4, 1998... David Lapin spent 14 years with a national brokerage house helping his clients build their wealth and, in the process, rising through the ranks to become a regional vice president of the firm. But despite his success with Merrill Lynch,...

'Techies' taking time out to work on people skills.(K*Tec Electronics)
December 4, 1998... Methods and approaches used to successfully manage and communicate as a company of 200 are not sufficient for a fast-growing high-technology company with more than 1,400 which has implemented changes in both services and management. ...

Shell, Chevron merger rumors fly.(Royal Dutch-Shell Group of Cos. and Chevron Corp.)
December 11, 1998... Royal Dutch strategic announcement fuels speculation Share prices of Royal Dutch Petroleum and Chevron Corp. soared in trading this week as speculation firmed about a merger between the two companies that industry sources expect to be...

Pipeline lawsuit deepens dispute over port project.(pipeline companies sue Port of Houston)
December 11, 1998... Local litigants seek millions to relocate displaced pipes When the Port of Houston conceived the idea of widening and deepening the Houston Ship Channel two decades ago, port officials knew that 100 pipelines crisscrossed the waterway and...

BJ Services shelves plans for new HQ building.(oil service firm abandons proposed construction of new headquarters in Houston, Texas)
December 11, 1998... Move may signal leaner times for real estate market What a difference a year makes. Oil service firms may be the first casualties of an energy crisis, but the real estate market has already felt the effects of low oil prices. Officials...

Management group takes CRC public 18 months after buyout.(CRC Holdings Corp.'s initial public offering of CRC-Evans Pipeline International Inc.)
December 11, 1998... The management group that acquired CRC-Evans Pipeline from Weatherford International Inc. 18 months ago is now trying to take the company public. On Dec. 7, CRC Holdings Corp. filed documents with the Securities and Exchange Commission,...

Strong medicine: state pushes to tighten solvency rules for HMOs.(Texas Dept of Insurance's law for health maintenance organizations)
December 11, 1998... Record losses prompt health care providers to increase rates The Texas Department of Insurance is pushing for stronger HMO solvency requirements in an attempt to nurse the state's ailing HMO industry back to financial health. Although...

Shell, Chevron merger rumors fly.(Royal Dutch-Shell Group of Cos. and Chevron Corp.)
December 11, 1998... Royal Dutch strategic announcement fuels speculation Share prices of Royal Dutch Petroleum and Chevron Corp. soared in trading this week as speculation firmed about a merger between the two companies that industry sources expect to be...

Pipeline lawsuit deepens dispute over port project.(pipeline companies sue Port of Houston)
December 11, 1998... Local litigants seek millions to relocate displaced pipes When the Port of Houston conceived the idea of widening and deepening the Houston Ship Channel two decades ago, port officials knew that 100 pipelines crisscrossed the waterway and...

BJ Services shelves plans for new HQ building.(oil service firm abandons proposed construction of new headquarters in Houston, Texas)
December 11, 1998... Move may signal leaner times for real estate market What a difference a year makes. Oil service firms may be the first casualties of an energy crisis, but the real estate market has already felt the effects of low oil prices. Officials...

Management group takes CRC public 18 months after buyout.(CRC Holdings Corp.'s initial public offering of CRC-Evans Pipeline International Inc.)
December 11, 1998... The management group that acquired CRC-Evans Pipeline from Weatherford International Inc. 18 months ago is now trying to take the company public. On Dec. 7, CRC Holdings Corp. filed documents with the Securities and Exchange Commission,...

Strong medicine: state pushes to tighten solvency rules for HMOs.(Texas Dept of Insurance's law for health maintenance organizations)
December 11, 1998... Record losses prompt health care providers to increase rates The Texas Department of Insurance is pushing for stronger HMO solvency requirements in an attempt to nurse the state's ailing HMO industry back to financial health. Although...

Building up Baylor.(Baylor College of Medicine Pres. and CEO Ralph Feigin)
December 11, 1998... CEO Ralph Feigin envisions the Houston medical school among the nation's 10 best by 2000 For as long as he can remember, Dr. Ralph Feigin wanted to be a physician. And with a memory like Feigin's, that's saying something. The...

High flier.(Tavaero Jet Charter CEO Thomas Vaughn)
December 11, 1998... Thomas Vaughn got his charter jet service off the ground by transporting Houston's movers and shakers Thomas Vaughn admits it's more than a little unusual that a man who once didn't like to fly now owns a successful charter jet company...

Sterling Chemicals Holdings Inc.(Proxy Excerpts Report)(Company Profile)
December 11, 1998... OTC Electronic Bulletin Board STXX 1200 Smith Street, Suite 1900, Houston 77002 (713) 650-3700 Sterling Chemicals Holdings Inc. is a holding company that, through its operating subsidiaries, manufactures petrochemicals, acrylic fibers,...

Houston, we have the next Internet; Texas GigaPoP bursts on global communication scene.
December 18, 1998... An alternative to the Internet will make Houston a global hub for high-speed transfer of data on the Information Superhighway of the future. Four Texas universities have teamed up to create the infrastructure and technology that will allow...

Merger boosts Aetna's local presence; Pact with Prudential will add 300,000 to firm's Houston rolls.(Prudential HealthCare)
December 18, 1998... Aetna will buy Prudential HealthCare in a $1 billion deal that will significantly bolster the number of people the No. 1 managed care provider serves in the Houston market. Some in the health care community say the creation of such a large...

Three local rollups ax IPO plans.(Work International; Nationwide Staffing; Incom Roofing; initial public offering)
December 18, 1998... While the market for initial public offerings appears to be rebounding from the doldrums of September, three local consolidation plays that had planned to go public this fall have died on the vine. Two of those - Work International and...

Rutherford-Moran officers face tough crowd at annual meeting.
December 18, 1998... Executives of Rutherford-Moran Oil Corp. offered little encouragement to shareholders who filed into the company's long-delayed annual meeting this week. But they got an earful. Hoping to hear some progress on the sale of the company at...

Juice master: for CEO Ralph Cooper, big changes at The Minute Maid Co. haven't been hard to swallow.
December 18, 1998... Ralph Cooper, president and CEO of The Minute Maid Co., doesn't drink orange juice at breakfast. He drinks Minute Maid Premium orange juice. He won't call his company's flagship product orange juice, and he's quick to correct those who...

China syndrome: Gina Liuzza took a life-long fascination with European tableware and turned it into a career.(owner of chinaware and earthenware store, Meli-Melo)
December 18, 1998... Seven years ago, Gina Liuzza was sitting on a plane after a visit to France when she had a mid-life crisis ten years ahead of schedule. Approaching her 30th birthday and working in Dallas as a corporate securities lawyer at the time, Liuzza...

Houston public companies in less glamorous areas top list of recent high achievers.
December 18, 1998... Shareholders of Group 1 Automotive doubled their pleasure this year as the automobile retailer doubled its revenue. In its first full year as a publicly traded firm, Group 1 mixed an aggressive acquisition strategy with some internal growth...

Houston IPO activity takes dive in third quarter of '98.(initial public offering)
December 18, 1998... Capital raising by Houston-area companies dropped 25 percent in the third quarter, while statewide totals declined 8 percent and nationwide activity remained about the same as a year ago according to an analysis released by Charles P. Young...

Investor confidence remains strong, stock index indicates.(Texas)
December 18, 1998... The most recent Texas Stock Index produced by State Comptroller John Sharp's office presents an upbeat indicator. At the time of the release of the most recent report, which is based on October statistics, the index was continuing to climb...