Houston Business Journal articles from January 1995

Houston Business Journal archives from January 1995

China eyes investment in Texas oil patch: tiny Jurassic Energy awaiting final word on first-of-a-kind joint venture. (China National Oil and Gas Exploration and Development Corp.; Jurassic Energy Corp.)
January 6, 1995... The national oil company of China is seriously considering an unprecedented investment in the Texas oil patch. Officials of Jurassic Energy Corp., a tiny Houston-area independent, believe the China National Oil and Gas Exploration and...

Riviana Foods returns to Wall Street with new IPO. (Riviana Foods Inc.; initial public offering)
January 6, 1995... Houston rice maker ends 20 years as private firm After nearly two decades as a privately held firm, Houston rice manufacturer Riviana Foods Inc. is heading back to the public markets. Riviana has filed with the Securities and Exchange...

Top Compaq officers collect $44 million from stock sales. (Compaq Computer Corp.)
January 6, 1995... Ten executive officers of Compaq Computer Corp. sold more than $44 million worth of stock in the Houston-based company during a two-week period in November. The 10 insiders, including Compaq President and Chief Executive Officer Eckhard...

Local family, Mexican firm buy Tex-Tube. (Armco Inc. Tex-Tube Div.)
January 6, 1995... A Monterrey group that owns one of the largest steel distribution companies in Mexico has joined forces with a local family to purchase Tex-Tube, a Houston company that has been in business for 49 years. Prompted by the North American Free...

Vision thing: major Houston eye clinics agree on merger. (Mann Eye Clinic; Houston Eye Clinic)
January 6, 1995... Two of Houston's largest ophthalmology practices have decided to merge, creating a combined operation of 15 locations and two ambulatory surgical centers. Mann Eye Clinic, owned by Dr. Paul Michael Mann, and Houston Eye Clinic, owned by Dr....

New generation keeps old Italian sausage recipe all in the family. (Company Profile)
January 6, 1995... Business: Italian sausage manufacturer and distributor. Founded: 1993. Employees: 3. Sales: $65,000. Background: A lot has changed since the late Albert J. Candelari began making sausage in the back of his Houston liquor store more than 50 years...

Federal judge delays state action against AutoMaxx.
January 13, 1995... A federal judge has ordered the state to postpone any action against Houston-based AutoMaxx Inc. for violation of the Texas anti-brokering law. Last month, AutoMaxx officials filed suit in Houston federal court challenging claims by the Texas...

Vastar Gas relocating to Houston from Dallas.
January 13, 1995... Move will add 80 new jobs to local market Houston-based Vastar Resources Inc. will relocate its Vastar Gas subsidiary from Dallas to Houston this summer, bringing 80 new jobs to the market. Vastar, itself a subsidiary of Atlantic Richfield...

Dallas entrepreneur making plans to revive Texas Business magazine. (Ray Washburne)
January 13, 1995... Texas Business is getting back into business. The dormant monthly magazine has been resurrected by a 34-year-old Dallas entrepreneur who hopes to attract statewide readers and advertisers when the publication makes a return debut in May. Ray...

KBK Capital acquires Louisiana finance firm. (Coastal Financial Resources Inc.)
January 13, 1995... An eastward expansion and a change of management apparently have boosted investor confidence in KBK Capital Corp. Last week, the Houston-based factoring firm that went public last June completed the acquisition of Coastal Financial Resources...

Top broker diversifies his business for the future; for Raymond Betz, one secret of success was staying out of debt in the '80s. (includes related article)
January 13, 1995... Those looking for a forecast of Houston's real estate industry might watch the movements of Raymond R. Betz. The conservative founder and chief executive officer of The Betz Companies, he survived the real estate bust of the 1980s as a virtual...

Jan Harris leaves trademark on local construction jobs.
January 13, 1995... Company: R.J. Harris Construction Inc. Business: Construction and remodeling. Founded: 1989. Employees: 5. Sales: $500,000. Background: Jan Harris has spent her entire career bucking stereotypes. The mother of three children is doing it again as...

DI Industries Inc. (Proxy Report Excerpts)
January 13, 1995... AMEX DRL 450 GEARS ROAD, SUITE 625, HOUSTON 77067 (713) 874-0202 DI Industries Inc. is one of the largest drilling and service companies. Total shares of common stock outstanding as of June 21, 1994 38,669,378...

Rick's Cabaret will go public. (Rick's Cabaret International Inc.)
January 20, 1995... Club files plan with SEC for $5.5 million offering One of Houston's best known topless nightclubs is going public. Rick's Cabaret International Inc. filed last week with the Securities and Exchange Commission to offer more than $5.5 million...

Mexican investor group quietly builds Houston real estate base. (International Investors Group Inc., Houston, Texas)
January 20, 1995... As American businesses scramble to identify opportunities south of the border, a Mexican firm with a 20-year track record in Houston is attracting new attention. International Investors Group Inc., the American affiliate of Monterrey-based...

Energy Ventures reopens abandoned plant. (Energy Ventures Inc.)
January 20, 1995... Tubular producer will compete with Japanese Houston-based Energy Ventures Inc. has reopened a mothballed manufacturing plant in Bryan to compete with the Japanese and other producers of "premium" tubular goods. The plant had been idle since...

Local group gets federal charter for new bank. (First Community Bank Inc.)
January 20, 1995... First charter in eight years for Houston area An investment group led by longtime Friendswood banker Nigel Harrison has received the Houston area's first national bank charter in eight years. The 11 investors, all residents of Pearland and...

New Western Atlas division raises eyebrows in oil patch. (Western Atlas International Inc.)
January 20, 1995... Exploration and production unit blurs line between traditional oil companies and service firms Western Atlas International Inc. stirred up the oil patch last month by creating an exploration and production services division. The...

Major banks making more loans to small businesses.
January 20, 1995... Houston's largest banks seem to be playing an increasing role in making loans backed by the Small Business Administration. In the past few weeks, First Interstate Bank of Texas, NationsBank and Bank One-Texas all gained approval from the SBA to...

Aetna looking for partners in proposed clinic network. (Aetna Life and Casualty Co.)
January 20, 1995... Aetna Health Plans has revised its proposal to build 12 to 15 primary care medical centers in the Houston area. Although the health insurance company still plans to follow through with the centers, a Houston executive with the company says it...

New sales firm forms to meet rising demand for oil, gas properties. (Madison Energy Advisors Inc.)
January 20, 1995... Heavy demand for domestic oil and gas properties has spawned a new Houston company. Madison Energy Advisors Inc. was formed last week to give mid-sized independent oil patch companies an alternative marketing option. The company arranges sales...

Houston has seen many epic battles over locations, designs of City Hall. (Houston City Council, Texas)
January 20, 1995... Houston City Council, which held its first meetings in a saloon, is considering a new home after a century and a half various buildings which also housed markets and theaters. The current City Hall is the first devoted solely to municipal...

Drypers settles patent suit with Japanese competitor. (Drypers Corp. and Uni Charm Corp. patent suit over diaper design)
January 27, 1995... Rivals reach bottom line on training pants technology After more than a year, Houston-based Drypers Corp. and a Japanese competitor have reached a bottom-line agreement on their dispute over diaper design. Drypers and Uni-Charm Corp. of...

Low taxes lure valve firm from northwest Houston to Stafford. (Zidell Valve Corp.; Stafford, Fort Bend County)
January 27, 1995... The prospect of lower taxes has prompted Zidell Valve Corp. to move its headquarters from northwest Houston to the City of Stafford in Fort Bend County. Zidell executives and Fort Bend County officials report that the international valve...

Computer superstores gird for battle on Post Oak turf. (Micro Electronics Inc. Micro Center Div.; CompUSA Inc.; Houston, Texas)
January 27, 1995... When it comes to computer superstores, Bud Turnage has been around. He's an avid customer who admits hopping from store to store in search of a better deal - and just when he thinks he's found the computer store of his dreams, something better...

Actual HL&P rate settlement $62.2 million, not $1.2 billion. (Houston Lighting and Power Co.)
January 27, 1995... [TABULAR DATA OMITTED] City negotiators got almost what they were asking from the proposed rate settlement with Houston Lighting & Power Co. - but it wasn't $1.2 billion, as advertised. The rate cut is actually $62.2 million a year, or a...

Communications tower firms gather force in Houston arena.
January 27, 1995... A group of investors has paid $17 million for a fleet of communications towers, making its newly formed Houston company one of the largest independent tower owners and operators in the nation - second only to Houston-based Bowen-Smith Corp....

Merger prospects looking good to Offshore Pipeline investors. (Offshore Piplines Inc.; McDermott International)
January 27, 1995... As Offshore Pipelines Inc. nears a merger with the largest marine construction company in the world, investors' expectations are picking up. OPI shareholders are scheduled to vote on the merger with McDermott International in a special meeting...

Will home equity lending go to a vote or go up in smoke again?
January 27, 1995... The rematch of Texas' home equity lending battle may be taking a much more subdued tack this year, but it's a battle nonetheless. The straggle has become the biannual mission of the Texas banking community - to repeal Texas' 158-year-old...

Bankers face off over debatable interstate branch banking statute. (Texas)
January 27, 1995... Texas lawmakers will adopt or 'opt out' of legislation While Texas banks are aligned in unison behind the home equity lending push, that harmony turns to discord when the Legislature considers interstate branch banking. Enacted last year at...

Area's first generic credit union branch exceeds all expectations. (Texas)
January 27, 1995... Success of shared branching concept spurs plans for additional Houston centers The state's first generic credit union branch in Sugar Land has enjoyed such success that the Texas Credit Union League has set into motion plans to open two more...