Houston Business Journal articles from January 1997

Houston Business Journal archives from January 1997

Employers fund minimum wage fight. (businesses versus minimum wage increase)
January 3, 1997... Restaurants and grocery chains are leading the fight against a $6.50 minimum wage in Houston, but HEB Pantry Foods Inc. already pays all its entry-level employees $6.50 and hopes to continue raising that starting wage. "It's a commitment the...

Malls survive tough retail year with innovations.(Industry Overview)
January 3, 1997... Houston's regional malls marched ahead in 1996 - renovating, refurbishing and reeling in some big-name tenants to mark one of the bigger years in recent retail history. At a time when the national industry reported waning consumer interest in...

Midcon plans its comeback from Corpus Christi bankruptcy court. (Midcon Offshore Inc.)
January 3, 1997... Midcon Offshore Inc. filed for reorganization of its debts in a Corpus Christi bankruptcy court last month, one day after a multimillion-dollar payment was due on its breach of contract settlement with an Oklahoma firm. But Midcon President...

Motels, theaters and assisted-living centers burst onto specialty-use scene.(Real Estate: Out with the Old, in with the New)
January 3, 1997... Houston's land use fell into a distinct pattern in 1996 as motel developers, assisted-living companies and movie theater operators descended upon the city with no signs of letting up. Land that had for years been considered ideal for retail use...

Court rules the Velvet Elvis tavern can keep its painting and its name. (Elvis Presley Enterprises Inc. versus Velvet Elvis over trademark use)
January 3, 1997... Elvis Presley will not be leaving the building at 3303 Richmond Ave. After two years in court and thousands of dollars in legal fees, the Velvet Elvis tavern was allowed to keep its name in a ruling handed down Monday by U.S, District Judge...

Cooley & Cooley Ltd.: recapturing market through export success. (dental product manufacturer)(Growth Strategies)
January 3, 1997... Even though Marianna Cooley, president of a Houston-based dental product manufacturing firm, doesn't rely on her famous last name to open doors, it does. Many Houstonians might associate the Cooley name with her uncle, renowned heart surgeon...

Funny business, serious results: team creates radio ads that bring a chuckle. (Radio Works advertising firm)
January 3, 1997... Radio Works. It really does. Especially if it's a humor spot written and produced by Jim Conlan and Bill West, partners in Radio Works advertising company. Radio Works fills a specialty niche within the advertising industry. "We aren't an ad...

CEOs optimistic about 1997 outlook for their firms. (chief executive officers)(Column)
January 3, 1997... Houston chief executive officers are optimistic - almost bullish - about the outlook for their companies. More of them plan to add jobs and invest capital than at any time since 1989, according to the Greater Houston Partnership's Fall 1996...

Provisions of tax law can affect retirement plans.(Column)
January 3, 1997... A number of provisions in the tax law passed in August 1996 will have an impact on important retirement planning decisions beginning in 1997. Following is a summary of key provisions: * Five-year averaging is repealed. Five-year averaging is...

Consolidators plan IPOs in roof, pallets. (initial public offering)
January 10, 1997... Latest in long line of local industries to go public with 'roll-up' offerings Add roofing products and wooden pallets to the growing list of industries being consolidated out of Houston as the local trend toward "roll-up" public offerings...

Saltgrass gets into seafood business by rescuing Denis'. (Saltgrass Inc.; Denis' Seafood Restaurant)
January 10, 1997... The general partners of Saltgrass Inc. have purchased the assets of Denis' Seafood Restaurant out of bankruptcy court and intend to keep the eatery up and running as part of an aggressive expansion plan. The operators of Saltgrass Steak House...

Compaq eyes new building. (Compaq Computer Corp.)
January 10, 1997... Compaq Computer Corp. is planning the development of an office building as large as 500,000 square feet to handle the consolidation and ongoing expansion of its work force, according to sources involved in the project. The giant computer maker...

They're back: Morgan Group returns to home ground. (Morgan Group Inc.)
January 10, 1997... Brothers ponder their options at Memorial development site A 37-year-old real estate development company is returning home to Houston following a three-year hiatus. The Morgan Group, which was founded here in 1959 by Bill Morgan, has...

Mills switched sites during long negotiation for Katy megamall. (Mills Corp.)
January 10, 1997... Ending months of speculation, a Virginia-based developer known for churning out highly successful off-price malls and entertainment complexes has purchased an option to buy more than 500 acres of land in Katy for a $250 million megamall. If...

Bank United chooses status quo following SAIF recapitalization. (Savings Association Insurance Fund)
January 10, 1997... Bank United is a lot more content these days as a federal savings bank, thanks to the U.S. Congress. The Houston-based thrift has withdrawn its bid to convert to a national bank charter now that the thrift industry has completed a...

CB Commercial apartment brokers going independent. (CB Commercial Real Estate Group Inc.)
January 10, 1997... Three of the four executives in CB Commercial Real Estate Group Inc.'s local apartment brokerage group have left the firm to form their own company. Veteran CB Commercial brokers David Oelfke and Matt Rotan and former marketing associate Wendy...

Old-school banker moves on. (Jack Lander of Merchants Bank-Houston)
January 10, 1997... Chairman Jack Lander guides slow, steady expansion of Merchants Bank Jack Lander comes from a long line of bankers. But, he jokes, he wound up being one anyway. Lander's great-grandfather owned three Missouri banks during the mid-1800s. And...

MacGregor Medical Association looks for new source of capital.
January 10, 1997... MacGregor Medical Association is looking for a new financial partner. MacGregor has received financial support from Prudential Health Care for a long time, but even though the rest of their relationship remains intact, the insurance company is...

Sharp developed Oak Forest before grand Sharpstown plan. (Franck Sharp)
January 10, 1997... Houston expanded dramatically in both population and area in the years immediately following World War II. Suburban developments sprang up to house the large number of people moving into the city. The largest of these developments began in 1946...

Real estate analyzer captures solid niche. (Argus Financial Software)
January 10, 1997... Two software salesmen with an eye on the future and a strong product idea have carved a solid niche in the commercial real estate industry. But it never was easy. After nine years in business, Argus Financial Software's founders, Christopher...

Days of telemarketing and barking dogs. (thoughts on dress codes and telemarketing)
January 10, 1997... Forget Casual Day. When your office is in your home, you can have Robe Day - or Work-in-your-Underwear Week. Then there's Nap Day, Breaking-News-On-TV Day and Sit-Outside-and-Read-Business-Stuff Day. I used to work in the corporate world. I...

Energy independence is within America's grasp. (US oil and gas resources)
January 10, 1997... Our nation's vast reserves of oil and gas gives us the ability to set America on a course of energy independence from the Middle East. And I believe that a state-based energy strategy, with the assistance and influence of federal agencies devoted...

HI reorganizes as NorAm deal nears. (Houston Industries Inc.)
January 10, 1997... In a move to prepare for the upcoming deregulation of the electric industry, Houston Industries Inc. announced a major reorganization of its businesses R. Steve Letbetter, 48, currently president and chief operating officer of Houston Lighting...

1997 taking off with technology in the pilot's seat. (information services industry)
January 10, 1997... Information services managers - and all who want to keep up with fast-evolving business communications technology - are starting their trip into the new year with a suitcase packed with innovations. Included is an intriguing trio. But prepare for...

Ports & power help travelers keep in touch. (business travel technology)
January 10, 1997... Business travelers in 1997 are likely to encounter an explosion in products and services geared to keep them in constant communication with their offices and their customers. Laptop computers and cellular phones have become the lifeblood of...

Chemical engineers find a new way to communicate. (American Institute of Chemical Engineers)
January 10, 1997... The American Institute of Chemical Engineers (AIChE) had a big problem: How to effectively communicate between its headquarters in New York City and the people all over the world who were developing its 1997 Spring National Meeting to be held in...

Internet 101: a crash course on viruses. (computer viruses)
January 10, 1997... Just as cold and flu bugs seem to hit the office when the weather changes, Internet users can expect to see the stubborn recurrence of computer viruses. Almost half the viruses infecting computer systems today are Internet-borne, some industry...

Midway plans major Stafford business park. (Midway Cos. to create business park in Stafford, Texas)
January 17, 1997... Firm entering local turnkey development with new Freeport Southwest complex Houston-based Midway Cos. is beginning work on a new 227-acre industrial business park in Stafford - a move that represents the company's first foray into turnkey land...

Dallas REIT seeking to purchase historic Rice Hotel. (real estate investment trust)
January 17, 1997... A Dallas-based real estate investment trust is negotiating to purchase downtown's historic Rice Hotel from local developer Randall Davis and the Houston Housing Finance Corp. Columbus Realty Trust, which is also beginning work on some apartment...

Legislative charge: power deregulation or status quo.
January 17, 1997... As the Texas Legislature begins its 75th session in Austin, the state Capitol will once again be the arena for a fight over electric utility industry deregulation. By no means arcane, the debate will determine how, from whom and at what cost...

Upswing in market for upscale abodes drives sales at real estate firms upward. (Houston, Texas)(Industry Overview)
January 17, 1997... A strong end-of-the-year finish made 1996 the best year ever for several of Houston's high-end residential real estate companies. Multimillion-dollar homes were selling like hot cakes at John Daugherty Realtors, whose 214 appointments during...

Local day traders convince SEC to alter new rules. (securities traders in Houston, Texas)
January 17, 1997... A Houston-based coalition of small securities traders is taking at least some credit for the reconsideration of new Nasdaq Stock Market rules. The U.S. Securities and Exchange Commission last week decided to pull back on at least two new...

Redstone to sell once-bankrupt west side hotel. (Redstone Group to sell Westchase Hilton to CapStar Hotel Co.)
January 17, 1997... The Redstone Group is selling the Westchase Hilton to an out-of-town buyer for an undisclosed amount. The 295-room hotel, which last week achieved four-star status, agreed to be purchased by Washington, D.C.-based CapStar Hotel Co. The deal is...

Electric competition won't be a snap for Houston lawmakers.
January 17, 1997... State Sen. Jerry Patterson and state Rep. Debra Danburg of Houston, as well as Beaumont's state Rep. Mark Stiles, say they will sponsor pro-competition bills this session. Patterson and Stiles are working on a bill to be filed by the end of...

Plenty of time to study effects of deregulation in Texas.
January 17, 1997... Bruce Gibson, senior vice president of government and regulatory affairs at Houston Industries Inc., says his company and other utilities want the Legislature to adopt laws leading to full deregulation of electricity generation. But he doesn't...

Group promotes 'equitably sharing' costs of deregulation. (Texas Coalition for Competitive Electricity)
January 17, 1997... Stephanie Kroger is general counsel of the Texas Coalition for Competitive Electricity, a group of industrial and business consumers who want a choice of electricity suppliers. "Industrial customers want to procure their electricity...

Emissary for exports. (trade with Japan promoted by JETRO-Houston Director Hiroshi Kojima)
January 17, 1997... Hiroshi Kojima promotes the Japanese market to local businesses that often don't see beyond the Americas Even though Places Rated Almanac named the city third among the best place in the country to live, Houston is about the last place an avid...

Forum explores lawmakers' banking agenda for '97. (Texas legislators on Texas banking industry)(Banking & Finance Quarterly)
January 17, 1997... Some thorny banking and finance issues are on the agenda for the 75th Texas Legislature, which convened in Austin this week for its 140-day session, and in the national arena. The Houston Business Journal recently invited three industry leaders...

Houston's SOES traders shedding 'bandit image. (small order execution system)(Banking & Finance Quarterly)
January 17, 1997... They're not "bandits" wearing masks, and they're here to stay in ever-growing numbers. They're people from all walks of life who have jumped onto the electronic technology bandwagon to make money trading stocks. They are "SOES" traders - named...

Texas credit unions rally to protect charter.(Banking & Finance Quarterly)
January 17, 1997... The Texas Credit Union League has launched a six-month campaign to defend the legal rights of not-for-profit credit unions against strong efforts by the banking industry to limit credit unions' fields of membership. The credit union industry...

Technology: check fraud's best friend, worst enemy.(Banking & Finance Quarterly)
January 17, 1997... By taking advantage of new technology and following recommended precautions, businesses stand a fighting chance against check fraud. A law recently passed by the Texas Legislature and signed by Gov. George W. Bush encourages banking customers...

Exhibition company adds Texas-sized events. (International Exhibitions Inc.)(Company Profile)
January 17, 1997... Shaun Wymes may not be an easy man to catch in the next few weeks. He is preparing five get-togethers in Houston, Dallas and Fort Worth in late February, and he expects thousands of people to show up. He's also over-seeing the construction of...

Try getting all this from the Internet. (impact of Internet on newspapers)
January 17, 1997... (Bill Schadewald is on vacation. This guest column is by Jim Nash, editor of the Dallas Business Journal, an affiliate publication.) Reason No. 12 why the Internet won't make newspapers obsolete: People have no more emotional attachment to...

Industrial landmark ripe for revival. (Cameron Iron Works headquarters in Houston, TX, to be developed into a mixed-used center)
January 24, 1997... Land flips signal redevelopment of Cameron Iron Works site A series of land flips between prominent real estate players may finally result in the redevelopment of a landmark Houston industrial tract. Nearly half of the long-vacant Cameron...

Tenneco exit puts survivor on top of new energy firm. (Tenneco Ventures bought by management team from El Paso Energy Corp.)
January 24, 1997... Michael Ronca survived Tenneco's exodus from Houston, the buyout of Tenneco Energy and the sale of the Tenneco company he used to head. Now Ronca's what he's always wanted to be - chief executive officer of an independent exploration and...

Banking on Tomball. (Texas National Bank to be resurrected by its former executives)
January 24, 1997... Former officers seek federal charter to bring back Texas National Bank The former officers of Texas National Bank in Tomball are planning to resurrect the financial institution, 18 months after selling out to First Interstate Bank of Texas....

A dramatic rise in Houston millionaires. (includes related article on young millionaires)
January 24, 1997... The number of millionaires in the Houston area increased from 37,657 in 1994 to 81,141 in 1996 - a whopping 115 percent jump over a two-year period. These local figures reflect a national trend, according to a survey recently released by...

Auto dealer Mac Haik returns to office development in Sugar Land.
January 24, 1997... First office project for former Oiler in a decade could signal more to come After more than a decade of watching and waiting, former Houston Oiler-turned-real-estate-developer Mac Haik is getting back into the office development game....

Hospitals meet competition through raft of renovations. (Houston, TX)(Quarterly Health Care Report)
January 24, 1997... Hospitals will continue to spend a lot of money this year to change the way they look and, more importantly, the way they function. Combining this year's and last year's expenditures, Houston hospitals are spending more than $200 million to...

Experts in telemedicine explore issues face-to-face. (Jed Kenna; Robert M. Brecht; David Norton)(includes related article on legal aspects of telemedicine)(Quarterly Health Care Report)(Panel Discussion)
January 24, 1997... Telemedicine is changing the face of health care. The Houston Business Journal invited three local leaders in this fast-emerging field to participate in a recent forum discussion, which was moderated by Jennifer Darwin, HBJ health care reporter....

Three suburban firms decide to stay at home for expansion. (Chem-Lab Circuit Co.; Texas Honing Inc.; Pro-Line Water Screen Services Inc.)
January 24, 1997... Three companies in suburban Houston have decided that there's no place like home. After months of searching for expansion space, two Pearland firms and a Sugar Land company have decided to funnel growth into their own back yards. Sugar...

Health care fraud risks lives, boosts insurance rates. (Medicare fraud)(Quarterly Health Care Report)
January 24, 1997... Health care fraud is never a victimless crime. It costs all of us money and some of us our physical well-being. "Ranging from simple schemes to complex conspiracies, some frauds have even put lives at risk," says a General Accounting Office...

'Red letter' day approaches for county's public hospitals. (Harris County, TX, to award six managed-care contracts for its Medicaid-eligible residents)(Quarterly Health Care Report)
January 24, 1997... They will have to compete for Medicaid dollars County hospital district officials have circled April 15 as a "red letter" day on their calendars, but it has nothing to do with filing last-minute income tax returns. That's the day state...

Talking trash. (Tom Fatjo Jr., founder of Browning-Ferris Industries Inc.)
January 24, 1997... Waste pioneer Tom Fatjo is recycling a familiar strategy to become a power player in the garbage business again The story of how Tom Fatjo Jr. founded Browning-Ferris Industries Inc. has been told many times. But Fatjo doesn't tire of telling...

Patient protection issues face lawmakers in Austin. (includes related article on managed care recommendations submitted to the Texas Legislature)(Quarterly Health Care Report)
January 24, 1997... Greater liability for managed health care organizations and more protection for patients are expected to be two major issues addressed by the Texas Legislature in its current session. "I think issues related to codification of the Patient...

Long-term leasebacks. (American Asset Advisers Trust)(Company Profile)
January 24, 1997... 'Novel' real estate concept leads to steady growth Unlike most business owners, Kerr Taylor says he always sleeps well at night. That's because Taylor has spent his days ensuring that his real estate investment company, American Asset...

Off-balance-sheet financing: just what doctor ordered. (financing the construction of health-care facilities)(Quarterly Health Care Report)
January 24, 1997... Rising costs, changing demographics, increased competition and consumer demands have issued an ultimatum to the health care industry to either find creative solutions or fail. One obvious solution is to provide more convenient and cost-effective...

Companies with multisite HMOs weigh alternatives.(Quarterly Health Care Report)
January 24, 1997... The addition of health maintenance organizations to benefit programs presents employers with continuing challenges. One of the newest challenges for employers is the evaluation and selection of different HMOs in various locations. The...

Marketing process never ends for successful business owner.
January 24, 1997... Ongoing success in any business requires a sustained, multifaceted marketing focus. Without this continuing commitment, companies that have already achieved success will simply atrophy into insignificance. Take the case of Erin, a successful...

South needs lesson in education reform. (high school and college graduation rates remain below the national average in the southern states)(Editorial)
January 24, 1997... The South has gone gangbusters in the 1990s, according to a study released recently by the Federal Reserve Bank of Dallas. The economy of the region, including Texas, outperformed the nation as a whole in terms of growth between 1990 and 1995....

Coming home to find a boom in full bloom. (good times return to Houston, TX, as it experiences another oil boom)
January 24, 1997... Sometimes, getting away from the center of action can provide a better perspective on the thick of things. I returned to the office last week from a five-week vacation, the longest in my 24 years with the paper. During this extended period out...

Texas Legislature set to tackle hot issues....
January 24, 1997... The 1997 Texas Legislature has from now until June 2 to attack a panorama of state and local issues. After the collegial workings of last year's session, 1997 could prove a contrast - despite the best intentions of both parties. Those fervent...

... As group launches attack against health care proposal. (Texans for Quality Health Care opposes bill allowing doctors sued for malpractice to sue coordinated care plans and employers)
January 24, 1997... Great strides are being made in health care to enhance quality and achieve affordability. Coordinated care plans are a major reason for the success, but a proposal has emerged that may reverse the progress by allowing reckless liability claims on...

Continental airport project flies again: airline seeking new city tax abatement for scaled-down maintenance hangar. (Continental Airlines Inc. to build aircraft maintenance facility at Houston Intercontinental Airport)
January 31, 1997... After two previous attempts to build a mammoth aircraft maintenance facility at Houston Intercontinental Airport never materialized, Continental Airlines Inc. now is going forward with plans for a scaled back version of the project. Hoping the...

Veteran property manager merges with Dallas firm. (Martin Fein Management Co. mergers with Corrigan Real Estate Services to form Corrigan-Fein Real Estate Services)
January 31, 1997... Local real estate guru Martin Fein has merged his property management company with a Dallas-based firm itching to gain a foothold in the Houston market. Martin Fein Management Co., founded by Fein in 1989, has joined forces with Corrigan Real...

IRS targets local company in 'transfer pricing' case. (Conductores de Monterrey C.V.S.A.)
January 31, 1997... An elusive Houston corporation is at the center of a federal tax dispute over $139.3 million in taxes and penalties allegedly owed by a Mexican manufacturer. The case is part of the Internal Revenue Service's campaign to collect from companies...

Attorney first black member of River Oaks Country Club. (Baker & Botts partner Rufus Cormier)
January 31, 1997... The 73-year-old River Oaks Country Club has added the first black member to its roster of wealthy clientele. Officials at the ultra-exclusive club confirm that Rufus Cormier, a partner at the law firm of Baker & Botts, is the first black member...

DBA Houston magazine lays off staffers, suspends publication.
January 31, 1997... The owners of DBA Houston magazine have told most of their staff to go home and have advised their freelancers not to expect any more assignments. The March issue of the controlled circulation business monthly will be the last. Co-owners and...

UT System forming HMO in bid for share of Medicaid contract. (University of Texas System forming health maintenance organization Texas Universities Health Plan Inc.)
January 31, 1997... In a response to major changes in how the state will finance Medicaid treatment in the future, The University of Texas System is forming a health maintenance organization to control the health care it provides to those Medicaid patients. An...

Nextel joins wireless parade, prepares to launch local service. (Nextel Communications Inc. competes in Houston's active wireless communications market)
January 31, 1997... Phone company will create 100 new jobs Nextel Communications Inc. is making good on its promise to enter Houston's active wireless communications market and has set up shop directly across the freeway from competitor Houston Cellular....

Continental picks Cullen Center as destination for downtown HQ: new offices for airline no longer up in the air. (Continental Airlines' new headquarters in Houston, Texas)
January 31, 1997... Ending months of speculation, Continental Airlines Inc. reportedly has signed a letter of intent to move its corporate headquarters into two buildings in downtown's Cullen Center. Sources close to the deal confirm that the Houston-based airline...

Something new is cooking in office building cafeterias. (gourmet corporate dining)(includes sample of ideal meal)
January 31, 1997... The concept of a "cafeteria" doesn't usually conjure up images of haute cuisine for most people. Especially the company or building cafeteria. But, heads up: There's a new trend in town - gourmet corporate dining. It's probably the Houston...

Reshaping PM Realty: Rick Kirk is changing directions as he takes a company with a troubled past into the future.(Company Profile)
January 31, 1997... The PM Realty name seems to be synonymous with change, and President Rick Kirk's first year at the helm of the 42-year-old real estate company hasn't done much to prove otherwise. But the obstacles that Kirk faced in 1996 were mild compared to...

Critics renew attack against federal contracting program for minorities. (Small Business Administration's 8a program)
January 31, 1997... Washington, D.C. - Once again, the nation's largest federal contracting program for minorities is coming under attack. The Small Business Administration's Inspector General recently issued comments to the U.S. Department of Justice criticizing...

Efficiency is small company's passport to success. (VIP Services Inc. in Houston, Texas)(Company Profile)
January 31, 1997... Nance Wells and her partner, Stephen Leighton had worked in the passport and visa expediting business for several years when they decided that they could run the shop more efficiently than their boss. So, in 1993 they started their own business,...

Police power play hits close to home. (alleged abuse of power by Houston police officers)(Editorial)
January 31, 1997... Allegations of excessive use of force and abuse of power by police officers are not unusual in the Houston area. But such incidents often get lost in the shuffle of the reams of crime statistics reported annually. Until, that is, an episode...

Change state law to allow home equity borrowing. (Texas homestead law)
January 31, 1997... Imagine salting away a hefty chunk of your paycheck into a savings account every month, but being prohibited by the government from making withdrawals for major purchases such as financing your child's college education, going back to school or...

Bring Houston up to speed with new transit network.
January 31, 1997... Listen up, Houstonians! We have developed an intriguing "List of Dreams" since emerging from our oil depression of the '80s. Here's the list: * An active, vital City Center, with heavy pedestrian activity, including a San Antonio-like Bayou...

Good graphics help convey effective marketing message.
January 31, 1997... In today's world, it is no longer enough to build a better mousetrap. In order to succeed, you must also be able to effectively market your product. One of the keys to effective marketing is to portray your offerings in a compelling manner....