Houston Business Journal articles from January 2000

Houston Business Journal archives from January 2000

VC funds flood high-tech firms.
January 28, 2000... Four companies reap $41 million It's pay day for a group of local technology firms. Two software development companies - PentaSafe Inc. and the AAC Group - and two Internet firms - ecOutlook.com and WorldByNET. com - combined have...

New tricks from Magic Earth.(Brief Article)
January 28, 2000... Texaco seismic spinoff redraws exploration landscape In a wing of Texaco's Briarpark headquarters in west Houston sits a shiny, silver spherical "pod" on a raised platform. Inside its dark, hushed interior are a bank of computers at one...

Papa John's Suffers costly defeat in pizza war.(Brief Article)
January 28, 2000... Local ad firms back Pizza Hut in victory over rival's 'Better Ingredients' claim The ever-confident Frank Carney - owner of 53 Houston-area Papa John's franchises - was served a slice of humble pie when a federal judge ruled this month...

Big banks clash over sour loan.(Brief Article)
January 28, 2000... Coastal Bancorp has hit Chase Bank of Texas with a lawsuit to recover losses from the Houston-based thrift's participation. in a $25 million warehouse loan made by the bank. The lawsuit alleges Chase Bank Texas, which was then Texas...

ECOM funding has Compaq connections.(Brief Article)
January 28, 2000... Compaq Computer Corp. Chairman Benjamin Rosen is one of a group of investors who pumped $15 million this week into Omaha, Neb.-based ECOM Worldwide. ECOM, which has local operations, will use part of the venture capital to create an...

Shifting Mitchels shake up The Strand.(Brief Article)
January 28, 2000... George and Cynthia Mitchell's Historical Properties division in Galveston is restructuring with the force of a hurricane. The Strand shakeup includes the sale of Christie's Beachcomber to Phil Orton, the same island businessman who leases...

125th place is as good as a win.(Brief Article)
January 28, 2000... Conoco is once again sponsoring the 10K Rodeo Run that signals the start of the nearly month-long livestock show and rodeo festivities. But this year's race is a little different. The human stampede that sets off the rodeo's horse...

News from the food and drink front.(Brief Article)
January 28, 2000... Another new restaurant is giving it a go in the building near Highway 59 and Kirby Dr. that has been the home of three other restaurants over the past few years. This time it's a sports-themed restaurant and bar called The Field House. ...

New domain gives local market second shot at filling in the dots.(Brief Article)
January 28, 2000... Houstonians who missed out on the first opportunity to register popular Internet domain names for the purpose of branding products are getting a second chance. Houston has been chosen as one of the first cities to market a new category...

Real estate investment company picks Houston for new U.S. hub.(Brief Article)
January 28, 2000... International real estate services firm Kennedy-Wilson Inc. is calling Houston home for its third U.S. investment sales office. Company officials say the new Southwest presence should expand Kennedy-Wilson's capabilities into middle...

Out-of-state buyers snap up new Midtown apartment complexes.(Brief Article)
January 28, 2000... Midtown is flipping for residential, with two of the neighborhood's four initial developments going to high out-of-town bidders. The Jefferson at Midtown and Live Oak apartment complexes have been bought and re-dubbed little more than a...

Chase takes on smaller rivals with push into middle market.(Brief Article)
January 28, 2000... Chase Bank of Texas is out to snare a bigger share of small commercial loans through a pilot program at the Gulfgate branch. With this new push into the lower end of middle-market companies, Chase continues to expand the focus of its...

Bank notes.(Brief Article)
January 28, 2000... After catching fire in November amid financial modernization that promised to usher in a new wave of consolidation, insurance stocks have gone cold. Houston-based American General Corp., for example, Monday sagged to its lowest price...

Saks takes Town & Country Mall by surprise with abrupt exit.(Brief Article)
January 28, 2000... Saks Fifth Avenue sashayed out of Town & Country Mall last week, surprising the shopping center's management with its abrupt departure. "There was speculation they would leave, but no one thought they would do it this soon," says Town &...

Retail rumblings.(Brief Article)
January 28, 2000... A New Orleans franchise is making a curtain call in Houston. The Curtain Exchange, a chain pushing custom-made, designer curtains, is opening three Houston locations. The first 1,500-square-foot store will open next month as one of the...

League City experiences Victory with office, residential land play.(Brief Article)
January 28, 2000... Land players are targeting League City as the Clear Lake area builds out and pushes development farther south. The Appaloosa Land Co. closed on a 500-acre slice of League City land last September at the corner of Interstate 45 and Highway...

Real estate roundup.(Brief Article)
January 28, 2000... Clarification: In the Dec. 31, 1999 story, "Alliance acquires 19 complexes as Tower sheds apartment assets," mention of Thomas C. Brennan III of Allied Properties was omitted. Brennan represented the buyer, Alliance Holdings of Chicago, which...

Fledgling Houston dot-com specialist emerges from obscurity with a splash.(Brief Article)
January 28, 2000... The latest company developed by Robert Shaw, founder and chairman of Ashrord.com, seems to suit its name - emerging.com. The Internet services firm specializing in dot-com companies was created last November with $8 million in venture...

Tech notes.(Brief Article)
January 28, 2000... Rice University is wading into the technology incubator business so the school can provide support to companies developed by its students, faculty, researchers and alumni. The Rice Alliance for Technology and Entrepreneurship will take a...

Houston agencies game winners with national Internet account.(Brief Article)
January 28, 2000... Let the games begin for the local offices of Hill & Knowlton and JWT Specialized Communications, a unit of J. Walter Thompson Worldwide. GameBay.com, an Internet game site heavy on targeted advertising, has awarded the two agencies its...

Shop Talk.(Brief Article)
January 28, 2000... Another local marketing firm is jumping1 on the high-tech bandwagon. Ward Creative Communications was chosen as public1 relations agency of record for ECOM Worldwide - a provider of business-to-business e-commerce solutions that offers a...

Business-backed Project 2000 takes a page from labor's book.(Brief Article)
January 28, 2000... Money may be the mother's milk of politics, but business groups learned from organized labor's success in the 1998 congressional elections that money alone can't buy happiness on Capitol Hill. Business outspent labor by an 11-to-1 margin...

Bill would keep OSHA out of worker's homes.(Brief Article)
January 28, 2000... As Congress prepared for hearings on OSHA's attempt to regulate telecommuting, Rep. Tom Davis, R-Va., introduced legislation that makes work performed at home with a telephone, computer or electronic device off limits to the agency. The...

AEA: Grass-roots push to win China trade deal.(Brief Article)
January 28, 2000... The American Electronics Association says granting China permanent normal trading relations status is the high-tech industry's No, 1 legislative priority this year, and it plans a grass-roots lobbying campaign to convince Congress to pass the...

Four airlines seek right to enter Chinese market.
January 28, 2000... Four airlines applied with the U.S. Department of Transportation for the right to enter the Chinese market next April. American Airlines, Delta Airlines and United Parcel Service applied for all 10 of the new weekly flights authorized by...

U.S. to Japan: 'Open construction market'.
January 28, 2000... A top U.S. trade official told his Japanese counterpart that Japan needs to do more to open its public construction market to American companies. "Japanese firms do 12 times as much public construction business in the United States as...

New site tracks political backing from lawyers.
January 28, 2000... The American Tort Reform Foundation launched a new Web site that tracks political contributions from trial lawyers. The site identified $18.7 million in political contributions from plaintiffs' lawyers in the Jan. 1, 1997 to Oct. 31, 1999...

The colorful consultants of crude.(Michael Economides and Ron Oligney)('The Color of Oil')
January 28, 2000... Michael Economides and Ron Oligney have stirred up the oil industry with their contrarian challenge to conventional wisdom Most people wouldn't choose a book on the oil industry to curl up with when they want a good read. But most...

High-tech visualization systems target speed, accuracy in exploration process.
January 28, 2000... Although Michael Zeitlin declares with missionary zeal that "nothing on this planet is as powerful or fast as GeoProbe" in processing 3-D seismic data, other oil industry companies might beg to differ -- if they were willing to discuss their...

Dealing with oil data in a high-tech age.
January 28, 2000... Oil industry experts tackled the prickly issue of just how oil prices are set this week at a University of Houston business school function. And a good number had less than positive things to say. Houston oil industry investment banker...

It's fourth down and a team name to go.
January 28, 2000... Never have so many made so much fuss over something so ultimately inconsequential. This frenzy over coining a name for Houston's newest professional football franchise is sweeping through the city faster than a flu virus in a flea...

Power deregulation offers electrifying opportunities.(Brief Article)
January 28, 2000... Texas Senate Bill 7, which passed after extensive analysis and debate as the 76th Legislative Session drew to a close, makes Texas the 21st state to open its electricity market to the forces of competition. This measure places the state in...

CEO steps down.(Denali Inc. )(Edward de Boer )(Brief Article)
January 28, 2000... CEO steps down. Denali Inc. President and CEO Edward de Boer has resigned. Denali's board of directors has named the company's chairman, Richard Yolk, to fill the two positions. Volk has served as chairman since March 1999. Denali is a global...

Management agreement.(El Paso Merchant Energy Co)(Boston Gas Co)(Brief Article)
January 28, 2000... Management agreement. El Paso Merchant Energy Co., a business unit of El Paso Energy Corp., has recently inked a three-year asset management agreement with Boston Gas Co., a subsidiary of Eastern Enterprises. The deal calls for El Paso...

Pipeline systems sold.(Gateway Energy Corp. )(Brief Article)(Statistical Data Included)
January 28, 2000... Pipeline systems sold. Gateway Energy Corp. has sold two non-core properties for $1.1 million to two unrelated buyers. One property was an undivided joint venture-interest in a Louisiana pipeline system partnership. The other property was a...

Production facility.(aluminum)(Brief Article)
January 28, 2000... Production facility. Quanex Corp. has completed its purchase of Alcoa Golden Aluminum's production facility based in Fort Lupton, Colo. Terms of the transaction have not been disclosed. The newly acquired company has become part of Quanex's...

Residence buyout.(Epoch Senior Living)(SunBridge Assisted Living)(Brief Article)
January 28, 2000... Residence buyout. Waltham, Mass.-based Epoch Senior Living has purchased SunBridge Assisted Living. The residence will be renamed Epoch Assisted Living of Tanglewood. The community is one of eight being purchased by Epoch Senior Living from...

Sacramento-bound.(Continental Airlines )(Brief Article)
January 28, 2000... Sacramento-bound. Continental Airlines will begin new service between Sacramento, Calif., and its hub in Houston at George Bush Intercontinental Airport May 2. Continental will offer two daily flights between Sacramento International Airport...

Concrete deal.(U.S. Concrete Inc. )(Beall Industries)(Brief Article)(Statistical Data Included)
January 28, 2000... Concrete deal. U.S. Concrete Inc. has inked a deal to acquire Beall Industries, a producer of ready-mixed concrete and lime slurry located in the Dallas/Fort Worth area. Beall Industries is expected to produce about $65 million in annualized...

Cargo service.(Houston, Texas becomes LanChile Cargo gateway)(Brief Article)
January 28, 2000... Cargo service. LanChile Cargo has chosen Houston as a Texas gateway to offer scheduled cargo service to South America. The carrier is launching its service with weekly direct flights from Houston to Buenos Aires, Argentina with continuing...

Services expansion.(Andersen Consulting and BP Amoco sign contract)(Brief Article)
January 28, 2000... Services expansion. Andersen Consulting and BP Amoco have signed a 10-year, $200-million agreement to expand the finance and administrative services Andersen Consulting provides to BP Amoco's downstream businesses in the United States. The...

Outsourcing contract.(between Burlington Resources and Baker Energy)(Brief Article)
January 28, 2000... Outsourcing contract. Burlington Resources Inc., an independent oil and gas producer, has awarded a contract to outsource the operations of its Gulf of Mexico properties to Baker Energy, a provider of operations and maintenance services....

Pump prices soar.(gasoline prices increase)(Brief Article)(Statistical Data Included)
January 28, 2000... Pump prices soar. The average price of self-serve regular Unleaded gasoline increased significantly since-last January, according to an American Automobile Association Texas survey. The current Texas statewide average price of a gallon of...

Pipeline acquisition.(Midcoast Canada Energy Services acquires pipeline)(Brief Article)
January 28, 2000... Pipeline acquisition. Midcoast Energy Resources Inc.'s subsidiary, Midcoast Canada Energy Services Inc., has agreed to acquire the May-berries Pipeline System from Triumph Energy Corp. Midcoast will pay $5.7 million in cash plus certain...

At the Helm: Business Lessons for Navigating Rough Waters.(Brief Article)
January 28, 2000... by Peter Isler and Peter Economy Some of the most prominent and successful CEOs and executives are sailors, and with good reason. In both business and sailing, only the best-led, best-trained and most highly motivated teams win. ...

AN INFORMATION ARSENAL FOR EMERGING COMPANIES.(VT/TV)
January 28, 2000... Vic TV With clients like the Houston Rockets, Sony and WB 39, production company VT/TV is rolling Vic Tamborella, president and founder of VT/TV, has guided his 1991 postproduction start-up through the changes to technology and...

The Lone Star has been joined by numerous flags over Texas.(a history of Texas' flags)(Brief Article)
January 28, 2000... "Six Flags Over Texas" have become familiar words to most folks in our state. This much-quoted phrase refers to the fact that Texas has been ruled by six countries: the Kingdom of France, the Kingdom of Spain, the Mexican Federal Republic,...

Chevrolet S-10 Xtreme: A proven commodity pickup with a few flaws.(Brief Article)
January 28, 2000... Two on the Road Chevrolet S-10 Xtreme Compact pickup Base price: $15,826 Mpg: 17/22 Competitors: Dodge Dakota RIT Sport Tom: So I hop into a shiny 2000 model year Chevrolet S-l0 Xtreme extended-cab pickup, a...

Sky's the limit as projects include highrise, waterway.(Woodlands Operating Co.'s plans)
January 28, 2000... The Woodlands Operating Co. has some impressive aspirations. It's trying to create the office community of downtown Houston, the River Walk of San Antonio and the upper-class suburbs of Dallas all rolled into one and located off I-45, 27...

Forecast: Industry segments poised for growth in 2000.(Houston, Texas)(Brief Article)(Statistical Data Included)
January 28, 2000... During the down times, Houston didn't pull back on infrastructure -- didn't quit planning for the future. And that planning has paid off during the past few years which has included a real estate boomlet, says Hugh Kelly of Landauer, one of...

Buildings designed to serve technology needs in future.(Houston, Texas)(Brief Article)
January 28, 2000... Earlier this month, America Online purchased Time Warner for $183 million -- the biggest buyout in the history of business. Time Warner's cable system gives AOL the infrastructure it needs to quickly transmit information directly into the...

Developers close financing gap with equity partnerships.(Brief Article)
January 28, 2000... Real estate developers face numerous decisions regarding the financial structure of any project they wish to initiate, but among the most significant is how to capitalize the project's cost above the primary construction loan. Assuming...

Safety should be a priority during construction project.(Brief Article)
January 28, 2000... Safety affects nearly every aspect of a construction job including the cost. Concern for safety should determine everything from the construction systems to be used on a project to the equipment that's required. MAKING A PLAN ...

Real estate services firms return to the fundamentals.(Brief Article)
January 28, 2000... The consolidation of national and international firms through mergers and acquisitions, an increasing number of firms going public and the active expansion of real estate investment trusts all have fueled rapid commercial real estate growth....

LARGEST HOUSTON-AREA BUSINESS/INDUSTRIAL PARKS.(Statistical Data Included)
January 28, 2000... LARGEST HOUSTON-AREA BUSINESS/INDUSTRIAL PARKS (Ranked by Total Acreage) Total Park Acreage Leasing Agent Rank Location ...

Owners' focus on operations puts leasing broker in key role.(Brief Article)
January 28, 2000... Leasing brokers are the critical link to the health of the commercial real estate industry, particularly today as owners are focusing less on acquisitions and more on operations - management and leasing - to maximize value. Many owners...

LARGEST HOUSTON-AREA OFFICE BUILDINGS.(Statistical Data Included)
January 28, 2000... LARGEST HOUSTON-AREA OFFICE BUILDINGS (Ranked by Net Rentable Square Feet) Square Feet/ Building Net Rentable Number of Rank...

Brokers work better with property managers alongside.(Brief Article)
January 28, 2000... This time last year, Houston was a real estate buyers market with the possibility - albeit slim - of becoming a bargain basement. How things have changed. The commercial sector posted impressive 1999 numbers while multifamily properties threw...

Post Properties to build 10-story building in Midtown.(Brief Article)
January 28, 2000... Post Properties announced this month plans to build another pair of buildings in Midtown, giving the company over 650 units in the area. Already well-established in the Midtown apartment scene, the Atlanta-based company is expanding on...

Hines buys 1100 Louisiana.(Brief Article)
January 28, 2000... A Louisiana purchase in the heart of downtown Houston topped local property sales this month. The 1100 Louisiana building is now back in the hands of its original owner after a record-breaking deal. Through a joint partnership,...

Midway Cos., IIG join forces.(Brief Article)
January 28, 2000... The Midway Cos. announced it is joining forces with IIG Commercial Developers Inc. IIG's president, Don Thomas, will bring several former IIG employees aboard to The Midway Cos. While IIG previously focused on both residential and commercial,...

High-tech Sheraton Suites primed for business.(Sheraton Suites Houston)(Brief Article)
January 28, 2000... The Sheraton Suites Houston By The Galleria, set to open for business Feb. 8 on the West Loop between San Felipe and Westheimer, contains numerous technology features catering to business travelers and corporate meetings. Wireless...

Redstone Building giving new meaning to Class A.(Brief Article)
January 28, 2000... The Redstone Group's Redstone Building, a Class A office building nearing completion by CE Ward Constructors at 109 N. Post Oak Ln. in the Houstonian complex, has accessed materials and systems from near and far in an attempt to exceed...

Tishman Speyer Properties to get broadband infrastructure.(Brief Article)
January 28, 2000... New York-based Tishman Speyer Properties, an international owner/builder with offices in Houston, recently contracted with Dallas-based Allied Riser Communications for the installation of broadband communication infrastructure in commercial...

Web site lists Houston contractors, repair companies.(Brief Article)
January 28, 2000... A Web site launched this summer by Houston-based GreatContractors.com lists contractors, repair companies or service companies, such as engineers and architects, in the Houston area.

Detailed drawing blocks available on the Web.(Brief Article)
January 28, 2000... Engineers, specifiers, architects and contractors can access design solutions online with a new research tool from The B.F. Goodrich Co. at a new Web site. (www.blazemaster.com) The site features the Blaze-Master 2000 Fire Sprinkler...

Staubach, DTZ joint venture going global.(Brief Article)
January 28, 2000... The Staubach Co., a global real estate strategy and services firm with offices in Houston, and DTZ Debenham Tie Leung, a large real estate services company in Europe and Asia, have announced a joint venture to serve clients with global needs....

PEOPLE ON THE MOVE.(Brief Article)
January 28, 2000... ACCOUNTING Mann Frankfort Stein & Lipp PC has named Byron Hebert principal, profit enhancement and has promoted Katherine M. Wells to semi-senior, financial reporting and David D. Hardy and John Pao to managers, tax department. ARTS...

Awards & Grants.(Brief Article)
January 28, 2000... Village Builders has received a Best in American Living Award from the National Association of Home Builders convention for the ninth consecutive year. The award honors the company's commitment to high design and quality construction. ...

Turner & Bair Architects.(Brief Article)
January 28, 2000... Turner & Bair Architects of Houston has collaborated with an interior design firm, The Wells Group, in the design of a retail showroom and service facility for Fort Bend Telephone, located on the Grand Parkway in the Grand Parkway Albertsons...

Earnings.(Brief Article)
January 28, 2000... Earnings COASTAL BANCORP INC. 4th Qtr. ended Dec. 31 1999 1998 revenue in 1,000s -- -- net income (loss) in 1,000s 1,162...

Enron stock hits new heights as market applauds diversification plan.
January 21, 2000... Enron Corp. is sizzling. The share price of the biggest Houston-based company on Jan. 14 surged to an all-time high. The world's largest energy trader is dusting other stocks in the S&P 500 index this month. For the week through Jan. 14,...

Faith in the Harley business cycle drives retailers' easy rider interest.
January 21, 2000... Houstonians who fantasize about rumbling down the open highway on a Harley-Davidson can now rent everything but the attitude and the tattoos. A Cargo, Fla.-based company that lets biker wannabes rent late model Harley Davidson...

Anticipating Budget Act losses, Methodist to lay off almost 100.
January 21, 2000... Methodist Health Care System is eliminating nearly 100 managers in a cost cutting measure it blames on outside economic pressures. Some of the outgoing supervisors will be allowed to take early retirement while others will be laid off,...

Speculation ends, Boston firm finally acquires office building.
January 21, 2000... After months of talk about a sale of 515 Post Oak, TA Associates of Boston has bought the building from Transwestern CG Partners I. The 12-story 260,000-square-foot building at the southwest corner of Briar Hollow Boulevard just inside...

Grubb & Ellis Co.
January 21, 2000... Grubb & Ellis Co. has landed the contract to manage ABB Lummus Global's massive new build-to-suit in Westchase. ABB's employees moved into the 48 8,000-square-foot building on Briarpark Drive over Thanksgiving. The new headquarters sits...

Caldwell Watson Real Estate Group.
January 21, 2000... Sales on a slew of smaller buildings closed during the holiday rush to get deals done. Caldwell Watson Real Estate Group purchased a 126,000-square-foot building at 13100 Northwest Freeway. That 18-year-old property is 95 percent...

Fuller Realty Partners.
January 21, 2000... And Fuller Realty Partners has formed a joint venture with Nest Management to buy the 5757 Woodway building. Carsam Realty Six now controls the 162,888-square-foot building at the corner of Woodway and August. Cummings-Baccus Interests...

Gulf Winds International Inc.
January 21, 2000... Gulf Winds International Inc. has inked two deals taking 279,000 square feet of industrial spade in the south east sector. The first deal for 140,782 square feet at 404 North Witter Road in Pasadena was leased from The Pasadena Paper Co....

Seismic Exchange.
January 21, 2000... Seismic Exchange has inked a deal with Wolff Cos. to give up its Uptown headquarters and construct a 51,000-square-foot build-to-suit on 2.4 acres in Westway Park. David Hightower of Wolff Cos., says construction is under way and the...

ABB Automation.
January 21, 2000... ABB Automation, a division of global technology and engineering firm ABB International, has inked a deal for 52,678 square feet in Sugar Land. The contract for roughly one-third of the 151,000-square-foot building at 12808 West Airport...

Cinco Ranch.
January 21, 2000... Cinco Ranch marked 1999 as its biggest home sales year yet. The 5,000-acre master planned community in West Houston finished the year with 609 sales -- a nine percent increase over last year's 541 homes sold. Cinco Ranch's marketing...

International Distribution Corp.
January 21, 2000... In two past editions, International Distribution Corp. has been referred to incorrectly. Principle Doug Walt founded the Houston-based warehousing and distribution company in 1977, and has been rapidly expanding the enterprise ever since....

Health care custodian.
January 21, 2000... Texas Department of Insurance Commissioner Jose Montemayor is in charge of finding a cure for ailing HMOs Jose Montemayor is concerned about the financial well-being of health maintenance organizations in Texas. And he has every reason...