Houston Business Journal articles from March 1994

Houston Business Journal archives from March 1994

Health care blues: small firm mirrors nation's dilemma. (E.M. Blue's Sons Inc.)
March 28, 1994... When it comes to looking after the health of his employees, Paul Schrader is from the old school. The 55-year-old president and part owner of E.M. Blue's Sons Inc., a small manufacturing business at 1801 Wayside Drive, knows his workers are...

Northern Trust moves in on River Oaks; trust competition heating up in one of Houston's ritziest neighborhoods. (Northern Trust Bank of Texas)
March 28, 1994... Northern Trust Bank of Texas has scored the latest coup in a brewing battle for the trust business of one of Houston's ritziest neighborhoods. James F. Hurley, longtime executive officer at River Oaks Trust Co., jumped ship earlier this...

New study: managed care not saving money; Houston companies in HMOs pay more per employee than those in traditional indemnity plans. (health maintenance organizations)
March 28, 1994... Managed care has so far failed to drive down medical costs in the Houston area, according to a study to be released this week by A. Foster Higgins Company Inc. for the Houston Area Healthcare Coalition. The prominent health care consulting...

Sold! Houston 'trophy homes' targeted for auctioneer's gavel.
March 28, 1994... It's Saturday afternoon. The sun has broken through the clouds, and a fresh breeze sweeps in off the bay as people congregate at the home of Karl and Loretta Johnston. The La Porte couple graciously greet visitors as they arrive, just as...

Russian oil firms have $2 billion line of credit from Ex-Im Bank. (Export-Import Bank of the U.S.)
March 28, 1994... But some complain there is 'no money out there' for small U.S. producers While small U.S. oil and gas producers say they have virtually no access to bank credit to fund investment, Russian oil and gas companies can tap into $2 billion of...

Oil-state congressmen, industry reps preparing tax credit plan for Clinton.
March 28, 1994... The domestic oil industry is finally getting some attention in Washington D.C., months after plunging oil prices began inflicting serious damage on the industry last November. President Clinton has responded to more than 100 members of...

Brink's Services: making a clean sweep in chimneys and air conditioners. (Company Profile)
March 28, 1994... Business: Chimney sweep and air-conditioning company. Founded: 1989. Employees: 13. Sales: $1 million in 1993. Background: Ron Zernik's success story has a familiar ring to it. In 1991, Zernik was in his 10th year as vice president of...

Commercial, residential development continues to shift west. (Focus On West Houston Economic Development Report)
March 28, 1994... Touting the strongest office market in Houston and an influx of residents and amenities, West Houston leaders seem pleased with economic development in the area. Business and community leaders agree that the city's commercial and residential...

Residential redevelopment signals change for Spring Branch. (Focus On West Houston Economic Development Report)
March 28, 1994... For a full century, Spring Branch was dominated by agriculture originating from early German settlements along the banks of Spring Branch Creek. During the 1940s, Spring Branch emerged as one of Houston's more distant suburban communities and...

NCI Building Systems Inc. (Proxy Report Excerpts) (Company Profile)
March 28, 1994... NASDAQ/NMS BLDG 7301 Fairview, Houston 77041 (713) 466-7788 NCI Building Systems Inc. is a manufacturer and marketer of pre-engineered metal buildings systems and components. Total shares of common stock outstanding as of Jan. 14, 1994...

Baker Hughes unit transforming plant into HQ campus; $10 million INTEQ project will consolidate workers, add jobs.
March 21, 1994... A Baker Hughes Inc. subsidiary will spend $10 million to convert an existing manufacturing plant into a headquarters campus in north Harris County. Up to 150,000 square feet of office and research space will be constructed, and the firm's...

Pulling the plug on nuclear power: closing STP could cost $850 million. (South Texas Project Nuclear Power Plant)(includes related articles)
March 21, 1994... HL&P conducting new study to calculate price of shutting plant When Houston Lighting & Power Co. finally closes the South Texas Project nuclear plant, there will be one more bill to pay. That bill, experts say, may be as high as $850...

Nuclear plants shut down early in U.S.
March 21, 1994... President Dwight D. Eisenhower ushered in the atomic age for the electric power industry when he waved a magic wand and the nation's first full-scale nuclear power generator, Shippingport, was dedicated to service in 1958. At the time,...

The Bridal Connection: retail cluster caters to weddings in one-stop center.
March 21, 1994... Like most brides, Jana Carmichael discovered that walking down the aisle is not nearly as stressful as planning the wedding ceremony, especially when trying to balance a career. But Carmichael had some help. The recently wed teacher enlisted...

New Pallet Concepts: struggling to replace plastic and wood with paper. (New Pallet Concepts Inc.) (Small Business Profile)
March 21, 1994... Business: Pallet company. Founded: 1989. Employees: 7. Sales: $100,000. Background: Robert Broussard is looking forward to analyzing his balance sheets this year. If all goes as planned, it's the first year Broussard's company, New...

Financial institutions get back to 'business of banking' in 1993; competition heats up as banks solicit customers. (Focus: Banking and Finance Quarterly) (Industry Overview)
March 21, 1994... Although competition among Houston's banks tightened last year, local financial institutions likely will agree on at least one thing about 1993: It was a very good year. Not only did Houston's larger banks show significant profits for the...

Local venture capital market struggles, strives for maturity; upswing in initial public offerings should attract money. (Focus: Banking and Finance Quarterly)
March 21, 1994... Houston's small venture capital industry has a long road ahead before it can compete with the likes of its East and West coasts rivals, experts say. Clustered in the shadows of commercially viable research meccas like the Texas Medical...

Profile of a partnership: biotechnology firm heads for market. (LifeCell Corp.; Woodlands Venture Partners) (Focus: Banking and Finance Quarterly)
March 21, 1994... LifeCell Corp. has developed technology to speed the healing of burns and improve the performance of heart valves. The biotechnology firm owes its success, in part, to The Woodlands Venture Partners, a local venture capital firm, which will...

Survey. (Focus: Banking and Finance Quarterly)
March 21, 1994... QUESTION: Low interest rates are good news if you're buying a house or a car. But if you're conservative investor who is used to earning double-digit yields on certificates of deposits for years, returns in the 3 percent range can come as a...

Bellwether Exploration Co. (Proxy Report Excerpts) (Company Profile)
March 21, 1994... NASDAQ BELW 1331 Lamar, Suite 1455, Houston 77010-3039 (713) 650-1025 Bellwether Exploration Co. is engaged in the acquisition and development of, and the exploration for oil and gas reserves. Total shares of common stock...

Boatmen's drops anchor in Houston; St. Louis bank barging into market with purchase of $1.4 billion Eagle. (Boatmen's Bancshares Inc. acquires Eagle Management and Trust Co.)
March 7, 1994... Boatmen's Bancshares Inc. is getting its feet wet in the Houston financial market. The St. Louis-based banking powerhouse has agreed to buy Eagle Management & Trust Co., a local $1.4 billion financial administration firm. And in negotiating...

HL&P fires up plan for gas power plant. (Houston Lighting and Power Co.)
March 7, 1994... New technology produces electricity at half the cost of nuclear project Houston Lighting & Power Co. plans to build a new natural gas-fired power plant that can produce electricity at roughly half the cost of the utility's nuclear plant....

Clear Lake condo revival gives old projects new life.
March 7, 1994... The Clear Lake condominium market is coming back. Prices of newer units are near record highs, while some projects that were built and went bust in the 1980s are showing signs of full recovery. Seagate, a recent condo conversion project, is a...

Space odyssey: top NASA contractors struggle through turbulent year.
March 7, 1994... Big budget cutbacks, FBI sting operation buffet businesses in 1993 Thirteen Houston-area firms were ranked among NASA's top 100 contractors last year, according to a list the agency recently released -- but NASA's troubles made it a difficult...

California firm files plan to create first mental health HMO in Texas. (Managed Health Network Inc.; health maintenance organization)
March 7, 1994... Managed Health Network awaiting approval on state application A Los Angeles-based managed care company plans to expand its presence in Houston by opening the state's first health maintenance organization dealing exclusively with mental health...

Wisenbaker Graphics: couple finds key to making strong 'Connections.' (business networking guide) (Small Business Profile) (Company Profile)
March 7, 1994... Business: Graphic design company. Founded: 1991 Employees: 2. Sales: $125,000. Background: Carmen Wisenbaker understands the importance of connections. Like many small-business owners, Carmen and her husband Donald rely heavily on personal...

CBD players search for ways to spur economic development. (central business district) (Focus on Commercial Real Estate)
March 7, 1994... Leaders discuss possible developments, other issues affecting downtown Downtown Houston's commercial real estate market is reeling after one of its worst years in recent times. But despite sporting one of the softest office markets in the...

REIT shopping spree yields mixed reactions after the sale. (Focus on Commercial Real Estate)
March 7, 1994... Deals bring big bucks to some, take from others Late last year the Pineloch Apartments in the Clear Lake area became the center of a bidding war among prospective buyers. That might have struck some industry observers as odd since the...

Forecast. (Houston commercial real estate industry in 1994) (Focus on Commercial Real Estate) (Interview)
March 7, 1994... QUESTION: What do you foresee happening in the various segments of commercial real estate for 1994? Houston Business Journal interviewed analysts and gathered research from those who keep a close eye on the industry. By tracking deals and...

Biggest deals in commercial real estate market during 1993. (Focus on Commercial Real Estate) (Interview)
March 7, 1994... The Houston-area commercial real estate market in 1993 had its ups and downs. Affecting the market overall were such issues as zoning, health care reform, space program cutbacks and historic preservation struggles. Suburban submarkets...

Nabors Industries Inc. (proxy report excerpts) (Company Profile)
March 7, 1994... AMEX NBR 515 West Greens Road, Suite 1200, Houston 77067 (713) 874-0035 Nabors Industries Inc. is the largest land drilling contractor in the world and currently operates 228 land rigs, 10 platform rigs, one jackup and four barge rigs....

Franchisees boast incredible success rates. (Small Business Monthly)
March 7, 1994... Drive through most retail districts, and you'll feel like you've been there before. You'll probably see a Dairy Queen, a Denny's, a Jiffy Lube and a Jazzercise. There may be a T-Shirts Plus and a Taco Bell, too. The shops that line one...