Houston Business Journal articles from February 1990

Houston Business Journal archives from February 1990

Soaring costs stall space project. (NASA-Walt Disney space museum, Space Center Houston)
February 26, 1990... Soaring costs stall space project NASA-Disney tourist center sits on launch pad as bank delays blast-off The launch of Space Center Houston has been put on hold. The glitzy NASA-Walt Disney space museum, heralded as a boon to the...

Old owner rides again at Yellow Cab. (George Kamins, Houston's Yellow Cab Co.)
February 26, 1990... Old owner rides again at Yellow Cab After weathering years of disappointing financial statements and waning political influence, Houston's Yellow Cab Co. may soon come back under the control of the man who owned the company for nearly 20...

High bank fees mystify small manufacturer. (Michael Sload, Houston manufacturer)
February 26, 1990... High bank fees mystify small manufacturer Houston manufacturer Michael Sload has fallen into a twilight zone of international banking. Sload, the owner and president of Fastener Manufacturing Inc., says his small company is the victim of...

City finally pays $575,000 to settle long-running sign suit. (Houston City Sign Administration; Joseph DeTrapani)
February 26, 1990... City finally pays $575,000 to settle long-running sign suit The City of Houston has decided to settle its long-running dispute with sign owner Joseph DeTrapani for $575,000, rather than appeal the case to the U.S. Supreme Court. Earlier...

Real estate dealer bids to put coats on glaring computers. (Stephen Ganns; computer screen glare)
February 26, 1990... Real estate dealer bids to put coats on glaring computers Stephen Ganns is one real estate investor who doesn't really have time for Houston's rebounding market. He's busy developing a new product that has nothing to do with dirt, bricks or...

Experimental hospital 'credit card' puts medical history in each patient's wallet. (Houston hospitals test Health Passport System)
February 26, 1990... Experimental hospital `credit card' puts medical history in each patient's wallet A medical "credit card" capable of storing 700 pages of typewritten information is currently undergoing tests in Houston hospitals. The unique...

Houston firm testing market for new telezone technology. (American TeleZone; mobile phone service)
February 26, 1990... Houston firm testing market for new telezone technology Robert Gray thinks mobile phone service could be more convenient than payphones and less costly than cellular systems. And the Houston telepreneur is establishing an advanced cordless...

Coastal wins key take-or-pay decision in Oklahoma court. (The Coastal Corp.)
February 26, 1990... Coastal wins key take-or-pay decision in Oklahoma court An Oklahoma federal district court jury has ruled in favor of The Coastal Corp., finding that the company's ANR Pipeline Co. subsidiary did not owe $200 million in take-or-pay damages to...

BMC Software settles suit with four of five plaintiffs.
February 26, 1990... BMC Software settles suit with four of five plaintiffs Legal dispute between original partners has plagued company since 1986 BMC Software Inc. has settled its legal problems with four of the five plaintiffs in a lawsuit that has...

Four Houston engineering firms win contracts for global projects. (Brown & Root Braun; Bechtel Corp.; Bechtel Petroleum, Chemical and Industrial Co.; consortium headed by Stone & Webster Engineering Corp.)
February 26, 1990... Four Houston engineering firms win contracts for global projects Houston engineering companies have received four contracts for projects located around the world. * Brown & Root Braun, a unit of Halliburton Co., was awarded the...

Hotel merger could affect Doubletrees. (Doubletree Hotels, Houston)
February 26, 1990... Hotel merger could affect Doubletrees Two major hotel management companies reportedly are close to a merger agreement. And if the deal goes through, three of Houston's Doubletree hotels could be affected. WOH Corp., parent company of...

Independent bankers protest bid process for buying thrifts. (Independent Bankers Association of Texas)
February 26, 1990... Independent bankers protest bid process for buying thrifts Association says system favors big holding companies, shuts out smaller institutions In an attempt to block acquisitions by megabank NCNB Corp., the Independent Bankers...

Steven Sessions on desktop publishing. (Houston graphic designer) (interview)
February 26, 1990... Steven Sessions on desktop publishing Steven Sessions is one of Houston's premier graphic designers and a leader in the field of computer-aided, desktop design and publishing. A perennial favorite in Houston advertising and design...

How to make history with a new product: the Compaq story. (Compaq Computer Corp.)
February 26, 1990... How to make history with a new product: The Compaq story Compaq Computer Corp.'s first product -- the Compaq Portable -- is literally a textbook case in the field of new product marketing. Since the company was founded in February 1982,...

Directory of area advertising agencies. (Houston) (directory)
February 26, 1990... DIRECTORY OF AREA ADVERTISING AGENCIES Ad Manager Inc. 11200 Westheimer, Suite 602 Houston 77042 (713) 781-2233 CEO: Jay Ahuja. '89 Billings (Estimated or Actual): $1.2 million. '88 Billings: $500,000. Staff Size: 1. Clients: Team Building...

City job base continues to expand. (Houston)
February 19, 1990... City job base continues to expand Major expansions, relocations add 4,300 to local work force in 1989 Houston's economic recovery continued to gain momentum last year as more than 4,300 new jobs were created through major corporate...

Drexel bankruptcy stuns Tuboscope. (Drexel Burnham Lambert Inc.)
February 19, 1990... Drexel bankruptcy stuns Tuboscope The timing couldn't have been worse for Tuboscope Corp. Last month, the Houston-based oilfield service company filed an initial stock offering to go public. Last week, the company's major underwriter,...

Popular peewee porkers turn broker into breeder. (Asian potbellied pigs; Jay Gillock)
February 19, 1990... Popular peewee porkers turn broker into breeder Jay Gillock traded bulls and bears for miniature pigs last year, and the former Houston stockbroker has been wallowing in hog heaven ever since. Gillock says he turned his back on an...

Candid camera catches crooks, curtails crime. (D/A Mid-South Inc.)
February 19, 1990... Candid camera catches crooks, curtails crime Stark photographs shot from surveilance cameras decorate the office where Dick Gunn does business. Every picture tells a crime story. Armed robbers wielding guns, knives and clubs are shown...

Bank president breaks good-old-boy barriers. (Linnet Deily, First Interstate Bank of Texas)
February 19, 1990... Bank president breaks good-old-boy barriers When Linnet Deily graduated from college, her chances of someday becoming president of any bank looked bleak. But the president of First Interstate Bank of Texas -- the top woman executive in...

Wall Street financiers raise stakes in Houston energy firms. (Alvin Shoemaker, William Simon; Paramount Petroleum Company Inc., United Gas Pipeline Co.)
February 19, 1990... Wall Street financiers raise stakes in Houston energy firms Wall Street financiers Alvin Shoemaker and William Simon have bought an interest in two Houston-based energy companies. Simon, U.S. Secretary of the Treasury during the Nixon...

Office building sold, two others under contract. (Adams and Porter Building, Houston; Texas American, Ashford buildings)
February 19, 1990... Office building sold, two others under contract It's open season on Houston office buildings. The market is wide open for all kinds of investors, especially for those who aren't merely trophy hunting. Deals are brewing in all parts of...

DI Industries Inc planning construction of new rig yard. (oil and gas drilling equipment)
February 19, 1990... DI Industries Inc. planning construction of new rig yard DI Industries Inc. is taking the opportunity to consolidate, refurbish inactive rigs and build a new rig yard in Houston while the oil and gas industry is regenerating and Wall Street...

Company collects business call facts. (DataVoice Technology)
February 19, 1990... Company collects business call facts Data Voice Technology owner Ralph L. Hayes has been tracking call processing comments and complaints for the past three years. His collection of figures from assorted trade publications, conventions and...

Pioneer seeking license for personal, portable system. (Millicom Inc.; personal communications network)
February 19, 1990... Pioneer seeking license for personal, portable system PCN aims at masses for easy, widespread use The future of telecommunications is now for J. Shelby Bryan, a Houston native and Millicom Inc.'s chairman and chief executive officer....

Business 'farms' reap tax breaks. (agricultural land as tax shelter)
February 12, 1990... Business `farms' reap tax breaks Texas tax laws give new meaning to the term "gentleman farmer." Giant corporations such as Exxon Corp., Compaq Computer Corp. and Lyondell Petrochemical Co. count as agri-business on Harris County...

Planners pitch Kirby Mansion as Summit site. (Economic Summit 1990)
February 12, 1990... Planners pitch Kirby Mansion as Summit site Economic Summit planners seem to have a thing for mellow brick and ivy-covered walls. First, Rice University was selected as the conference site. Now, Summit planners are negotiating to lease...

Gray Matters: older dolls help children think young. (company profile)
February 12, 1990... Gray Matters: Older dolls help children think young Gail Hallas is trying to change the way small fries think about senior citizens. She's doing it with Gray Matters, the trade name for a line of handmade, gray-haired dolls. Hallas, a...

Nothing to sneeze at. (Tanox Biosystems Inc. allergy fighting drug) (In brief)
February 12, 1990... Nothing to sneeze at Tanox Biosystems Inc. continues to navigate through a maze of clinical tests, peer reviews, patent filings and commercial suitors as the company prepares its new allergy-fighting drug for market. Taonx was recently...

Working flights turned fancy. (British Airways tests new economy class)
February 12, 1990... Working flights turned fancy British Airways has chosen Houston and Dallas to test market an economy class cabin for businesspeople tired of sitting next to cranky children and noisy vacationers while trekking across the Atlantic. "Our...

Fluor lands two big ones. (Fluor Daniel Corp.) (In brief)
February 12, 1990... Flour lands two big ones Sugar Land-based Fluor Daniel Corp. has been awarded two major contracts, one domestic and one international. * International Energy Corp. of Hingham, Mass., has awarded Flour a $37 million contract package to...

UT veteran provides timely tips on transfer technology. (Thomas Early) (Newsmakers)
February 12, 1990... UT veteran provides timely tips on transfer technology Thomas Early says he would take on another technology transfer company "in a minute," but this time he would do a few things differently. Early is president of Surgimedics, a...

Merchants Bank bids to double in size through branch merger. (company profile)
February 12, 1990... Merchants Bank bids to double in size through branch merger Merchants Bank-Houston is preparing to double in size by joining forces with three local branches. Executives of Merchants Bank expect regulators to approve the merger, which...

Two companies make changes at top. (American Capital Management & Research, Energy Ventures Inc.)
February 12, 1990... Two companies make changes at top Two Houston public companies have moved new people into top positions on their boards of directors. * George Reed, who has been with American Capital Management & Research Inc. for 13 years, has retired...

Michael A. Hrebenar. (Hear and their)
February 12, 1990... Michael A. Hrebenar Michael A. Hrebenar has been elected president and chief executive officer of National Asset Bank.

Steve Grote. (Hear and their)
February 12, 1990... Steve Grote Steve Grote has been named president of Brown & Root Braun, a newly formed operating unit of Brown & Root Inc. which represents the merger of Brown & Root's petroleum and chemical business unit with the recently acquired C F...

Edward J. Davis. (Hear and their)
February 12, 1990... Edward J. Davis Edward J. Davis has been named president and chief executive officer of Conservatek Industries, the Conroe-based designer and manufacturer of clear-span aluminum domes.

CRSS Inc. (Dividends)
February 12, 1990... Conoco Indonesia Inc. Conoco Indonesia Inc. an affiliate of Conoco Inc. has reported an oil and natural gas discovery offshore Indonesia approximately 600 miles north of Jakarta in the Natuna Sea. The Alu Alu E-1 well achieved cumulative...

Howell Corp. (Dividends)
February 12, 1990... Howell Corp. Howell Corp. has declared a quarterly dividend of 7 cents per share, payable on March 20 to shareholders of record on Feb. 28.

Lyondell Petrochemical Co. (Dividends)
February 12, 1990... Lyondell Petrochemical Co. Lyondell Petrochemical Co. has declared a regular quarterly dividend of 40 cents per share of common stock, payable March 15 to stockholders of record on Feb. 16.

Mesa Offshore Trust. (Dividends)
February 12, 1990... Mesa Offshore Trust Mesa Offshore Trust has declared a monthly trust distribution of 2.24 cents per unit, payable on April 30 to unitholders of record on Jan. 31.

Mesa Royalty Trust (Dividends)
February 12, 1990... Mesa Royalty Trust Mesa Royalty Trust has declared a monthly trust income distribution of 27.29 cents per unit, payable on April 30 to shareholders of record on Jan. 31.

National Asset Bank. (Dividends)
February 12, 1990... National Asset Bank National Asset Bank has declared a distribution in partial liquidation of 15 cents per share of common stock, payable on Feb. 28 to shareholders of record on Feb. 15.

Transco Energy Co. (Dividends)
February 12, 1990... Transco Energy Co. Transco Energy Co. has declared a quarterly dividend of 34 cents per common share, payable on March 1 to stockholders of record on Feb. 5.

Union Texas Petroleum Holdings Inc. (Dividends)
February 12, 1990... Union Texas Petroleum Holdings Inc. Union Texas Petroleum Holdings Inc. has declared a regular quarterly dividend of 5 cents per share on its common stock, payable on Feb. 15 to shareholders of record on Feb. 2.

Battle Mountain Gold Co. (Earnings)
February 12, 1990... BATTLE MOUNTAIN GOLD CO. 4th Qtr. ended Dec. 31 1989 1988 revenues in 1,000s $29,635 $32,436 net income (loss) in 1,000s 5,155 12,146 per share .08 ...

Dow B. Hickam Inc. (Earnings)
February 12, 1990... DOW B. HICKAM INC. 4th Qtr. ended Dec. 31 1989 1988 revenues in 1,000s $3,072 $2,955 net income (loss) in 1,000s (179) 209 per share (.08) .10...

Gamma Biologicals Inc. (Earnings)
February 12, 1990... GAMMA BIOLOGICALS INC. 3rd Qtr. ended Dec. 31 1989 1988 revenues in 1,000s $4,602 $4,385 net income (loss) in 1,000s 239 44 per share .05 ...

Imperial Holly Corp. (Earnings)
February 12, 1990... IMPERIAL HOLLY CORP. 3rd Qtr. ended Dec. 31 1989 1988 revenues in 1,000s $198,310 $176,040 net income (loss) in 1,000s 8,720 10,880 per share 1.38 ...

Lyondell Petrochemical Co. (Earnings)
February 12, 1990... LYONDELL PETROCHEMICAL CO. 4th Qtr. ended Dec. 31 1989 1988 revenues in 1,000s $1,329,000 $1,128,000 net income (loss) in 1,000s 64,000 157,000 per share .80 ...

Sysco Corp. (Earnings)
February 12, 1990... SYSCO CORP. 2nd Qtr. ended Dec. 30 1989 1988 revenues in 1,000s $1,888,216 $1,733,525 net income (loss) in 1,000s 33,718 27,521 per share .37 .30

Earnings - Union Texas Petroleum Holdings Inc. (Earnings)
February 12, 1990... UNION TEXAS PETROLEUM HOLDINGS INC. 4th Qtr. ended Dec. 31 1989 1988 revenues in 1,000s $254,100 $254,800 net income (loss) in 1,000s 16,300 14,800 per share ...

Zapata Corp. (Earnings)
February 12, 1990... ZAPATA CORP. 1st Qtr. ended Dec. 31 1989 1988 revenues in 1,000s $42,700 $45,100 net income (loss) in 1,000s (7,500) (6,700) per share (.24) (.21)

The Coastal Corp. (Public companies)
February 12, 1990... THE COASTAL CORP. PUBLIC COMPANIES The Coastal Corp. has reported that its Coastal Chem Inc. subsidiary intends to begin construction this summer on a new low-density ammonium nitrate plant near Elko, Nev. The $28 million project will...

Energy Ventures Inc. (Public companies)
February 12, 1990... ENERGY VENTURES INC. Energy Ventures Inc. has reported that its joint venture with Columbia Gas Development Corp., has spudded an exploratory well as a follow-up well to the venture's recent discovery on the West Cameron Block 507 in the...

Enron Corp. (Public companies)
February 12, 1990... ENRON CORP. Enron Corp. has reported that it has signed a letter of intent for a long-term gas supply and transportation arrangements to fuel the $1 billion power project in the world's largest gas-fired, combined heat and power project...

Galveston-Houston Co. (Public companies)
February 12, 1990... GALVESTON-HOUSTON CO. Galveston-Houston Co. has reported that its registration statement with the Securities and Exchange Commission for the public offering by the company of 4 million shares of common stock at a price per share of $5 has...

Swift Energy Co. (Public companies)
February 12, 1990... SWIFT ENERGY CO. Swift Energy Co. has reported reaching an agreement to purchase five separate groups of oil and gas producing properties located in Texas, Oklahoma and Louisiana for an aggregate purchase price of over $42.5 million. The...

Team Inc. (Public companies)
February 12, 1990... TEAM INC. Team Inc. has reported that it has called for redemption its $5 million original principal amount of 13 percent convertible subordinated debentures due 2004, on Feb. 26, 1990. Until Feb. 26, 1990, each debenture holder has the...

Weingarten Realty Investors. (Public companies)
February 12, 1990... WEINGARTEN REALTY INVESTORS Weingarten Realty Investors has reported that its registration statement on Form S-3 for 2.5 million common shares, plus a potential over-allotment of 375,000 common shares, has been declared effective by the...

CPA firm loses big in local court. (Laventhol and Horwath)
February 5, 1990... CPA firm loses big in local court Laventhol & Horwath appealing $37.7 million judgment in fraud case Laventhol & Horwath's Houston office is now appealing a court decision that could cost the Big Eight accounting firm more than $35...

Homart pulls out of Post Oak Park deal. (Homart Development Co.)
February 5, 1990... Homart pulls out of Post Oak Park deal Homart Development Co. has decided against buying two prime West Loop properties in Post Oak Park. At the same time, sources say the Chicago-based subsidiary of Sears Roebuck & Co. is negotiating to...

Tzintzuntzan, Bertha's close trendy doors. (Houston restaurants) (company profile)
February 5, 1990... Tzintzuntzan, Bertha's close trendy doors Owners of a pair of high-profile young restaurants on Montrose Boulevard have hung up their aprons. But the proprietors claim the fault didn't lie with their food. Bertha Robinson contends her...

Pet project: door-to-door dog food delivery service. (Pet's Best Friend)
February 5, 1990... Pet project: Door-to-door dog food delivery service As Domino's is to pizza lovers, Jim Conatser is to pets. Conatser operates one of the more unusual businesses that's sprouted from the trend toward home delivered foods. Out of a two-car...

Bullish on robotics. (Oceaneering International Inc.)
February 5, 1990... Bullish on robotics Oceaneering International Inc.'s first acquisition since the downturn solidifies the company's claim as the world's premier underwater services contractor. The Houston company has purchased British-based Sonsub Ltd.'s...

Building by Brown & Root. (Brown and Root Architecture)
February 5, 1990... Building by Brown & Root Brown & Root U.S.A. Inc. has long been known as the designer of bridges, refineries and power plants, but the engineering firm is adding a new wrinkle to its resume. The company has formed Brown & Root Architecture...

Cash with commercials: videos and automatic teller machines.
February 5, 1990... Cash with commercials: Videos and automatic teller machines Imagine a windsurfing banker in a pinstripe suit pitching home mortgages on a video screen in a supermarket. This unlikely scenario could unfold when financial institutions in...

AstroWorld adds a new twist with roller coaster ride. (Ultra Twister)
February 5, 1990... AstroWorld adds a new twist with roller coaster ride It's another new year and another new ride for AstroWorld. The amusement park has added an annual thrill every year since 1980 (with the lone exception of 1985). This year's offering is...

Small banks stay competitive with extra frills.
February 5, 1990... Small banks stay competitive with extra frills Independents use hairdos, heart checkups and mobile checking services to woo customers The more big banks grow in Texas, the more small banks need to stay competitive. So Houston...

Financier Pohlad listening to offers for Houston bank. (Carl Pohlad, Bank Shares Inc.) (company profile)
February 5, 1990... Financier Pohlad listening to offers for Houston bank Minnesota investor entered state with 1989 purchase of bailed out bank Minnesota financier Carl Pohlad may sell his only Texas bank. Pohlad is reportedly looking at offers for...

Investors seeking to sell stake in Conquest Exploration Co. (Dyson-Kissner-Moran Corp.) (company profile)
February 5, 1990... Investors seeking to sell stake in Conquest Exploration Co. New York group hires brokerage house to find buyer After taking a $40 million write-off in 1988 and posting a loss of $1.17 per share, Conquest Exploration Co. has been put up...

Baker Hughes awaits approval for acquisition. (Eastman Christensen Co.)
February 5, 1990... Baker Hughes awaits approval for acquisition Drilling tool firm bids to expand base in horizontal drilling Baker Hughes Inc. is awaiting word from the federal government on an acquisition that could significantly broaden the company's...

Westworld Resources Inc. (Proxy report excerpts) (company profile)
February 5, 1990... Westworld Resources Inc. NASDAQ WSTW 9800 Northwest Freeway, Suite 412, Houston 77092 (713) 682-6111 Westworld Resources Inc. has undergone a major change during the course of the past few years. The company has sold all of its...

Atwood Oceanics Inc. (sale of drillship) (Public Companies)
February 5, 1990... ATWOOD OCEANICS INC. Atwood Oceanics Inc. has reported completing the sale of its drillship, Chancellorsville, to Deep Sea Moon Ltd., a Liberian company, for approximately $8 million. Atwood Oceanics Inc. will continue to operate the unit...

Browning-Ferris Industries Inc. (denied permit) (Public Companies)
February 5, 1990... BROWNING-FERRIS INDUSTRIES INC. CECOS International Inc., the hazardous waste disposal subsidiary of Browning-Ferris Industries Inc., has been notified that the U.S. Environmental Protection Agency has denied CECOS' application for a...

The Coastal Corp. (plant construction) (Public Companies)
February 5, 1990... THE COASTAL CORP. The Coastal Corp. has reported that its Coastal Chem Inc. subsidiary plans to construct a $65 million Methyl Tertiary Butyl Ether (MTBE) plant at its Cheyenne, Wyo., location. Construction of the 4,000 barrel-per-day...

Compaq Computer Corp. (introduced new models) (Public Companies)
February 5, 1990... COMPAQ COMPUTER CORP. Compaq Computer Corp. has introduced new models of its 386-based family of personal computers that deliver two to four times the previous standard system memory, replacing prior models at the same price. The...

General Homes Corp. (securities) (Public Companies)
February 5, 1990... GENERAL HOMES CORP. General Homes Corp. reported that it will be paying a solicitation fee to eligible brokers and dealers for soliciting tenders in its offers to exchange its new series B convertible preferred stock for any and all of its...

Granada Foods Corp. (securities) (Public Companies)
February 5, 1990... GRANADA FOODS CORP. Granada Foods Corp. has reported the successful completion of a rights offering and standby purchase for 1,276,640 shares of common stock for $8.9 million, increasing its total common stock outstanding to 3,476,640...

Lyondell Petrochemical Co. (rating) (Public Companies)
February 5, 1990... LYONDELL PETROCHEMICAL CO. Moody's Investors Service has reported lowering the rating on Lyondell Petrochemical Co.'s notes and medium-term notes to Baa3 from Baa2, and also lowered the rating of the company for commercial paper to Prime-3...

Members Service Corp. (investment in II Mezzanine Fund Inc.) (Public Companies)
February 5, 1990... MEMBERS SERVICE CORP. Members Service Corp. reported that it has purchased a major position in II Mezzanine Fund Inc., a Dallas corporation that specializes in providing equity capital to emerging fast growing public companies. Most...

Oceaneering International Inc. (acquired Sonsub Ltd.) (Public Companies)
February 5, 1990... OCEANEERING INTERNATIONAL INC. Oceaneering International Inc. reported that its wholly owned U.K. subsidiary has finalized the acquisition of Sonsub Limited, a private U.K. company, through the purchase of all outstanding capital stock of...