Houston Business Journal articles from May 2000

Houston Business Journal archives from May 2000

Energy stocks bouncing back big.(more than 30 Houston energy companies have hit their highest level in at least a year)(Brief Article)(Statistical Data Included)
May 26, 2000... More than 30 companies hit year highs as capital shifts from tech sector New light is shining on old-economy oil and gas stocks. Investors are snapping up energy names with the sort of exuberance that had been reserved for the Sexiest...

Spinning off in space.(Brief Article)(Statistical Data Included)
May 26, 2000... Applied Optoelectronics is set to light up the laser market as first. UH graduate The first University of Houston spin-off company created to commercialize space technology is about to graduate from its collegiate incubator confines. ...

Realty union creates hefty Heritage.(Brief Article)(Statistical Data Included)
May 26, 2000... Heritage Texas Properties and high-rise residential specialist Morgan Personette Properties have joined forces to become one of the city's largest independent real estate brokerage firms. In conjunction with the acquisition by Heritage,...

Antique Dome dogs find a new historic home.(Brief Article)(Statistical Data Included)
May 26, 2000... A pair of six-foot high Indonesian temple dogs that once flanked the entrance to Judge Roy Hofheinz's private office inside the Astrodome have resurfaced to grace the foyer of another historical landmark. The antique canines, carved out...

Legal headhunter adds Austin firm to fold.(Prescott Legal Search acquires Cochran and Co.)(Brief Article)
May 26, 2000... Prescott Legal Search, the state's largest recruiting firm specializing in the legal profession, has acquired the largest legal headhunting firm in Austin, Cochran & Co. The acquisition of Cochran's four-member firm gives Prescott 17...

Retail centers blow bubbles for bikers.(Brief Article)(Statistical Data Included)
May 26, 2000... The futuristic spheres being installed in retail centers around town may look like alien landing pods, but they are actually designed to promote what is still somewhat of an alien concept in Houston -- riding bicycles instead of cars. ...

No place like Dome for 'roadeo' warriors.(Houston Astrodome hosts Sysco 'Haul of Champions National Roadeo')(Brief Article)
May 26, 2000... After losing baseball this year, the now-misnamed Astrodome has added a second rodeo. Separate from the renowned Houston Livestock Show and Rodeo, the local domed stadium in 2000 also lured the 10th annual "Haul of Champions National...

Here's a chance to rub elbows with 'Hud'.
May 26, 2000... Former race car driver Mario Andretti and actor-turned-driver Paul Newman will be in Houston in September to help raise money for charity in conjunction with the Texaco/Havoline Grand Prix of Houston. Andretti will be honored at the...

News from the food and drink front.(James Coney Island planning rapid expansion)(Brief Article)
May 26, 2000... Houston is no longer an island for James Coney Island. The Houston-based company, which specializes in upscale jumbo hot dogs served in a glitzy diner-type setting, is preparing to launch a major expansion effort that will take it outside...

Vallone Restaurant Group.
May 26, 2000... Preparing a lamb dinner for 1,600 people is no mean feat. But Tony's executive chef Bruce McMillian was recently assigned that task. McMillian traveled to New York earlier this month to prepare dinner for guests at the James Beard...

Dallas developer brings senior community to West Houston.
May 26, 2000... Greystone slates Buckingham project for 17-acre tract Greystone Communities and Westport Senior Living plan to develop an $87 million retirement community on a 17-acre site in West Houston. The Buckingham, located along Buffalo Bayou...

Tax court decision limits Exxon deductions in Alaska oil project.(environmental restoration of Alaska's Prudhoe Bay oil fields)(Brief Article)
May 26, 2000... Exxon Mobil Co. has been denied advance tax deductions for environmental restoration of Alaska's Prudhoe Bay oil fields. In a precedent-setting opinion, U.S. Tax Court Judge Stephen J. Swift upheld an Internal Revenue Serving ruling that...

Racer A.J. Foyt joins GlobeNetix pit crew as part of Net company marketing plan.
May 26, 2000... Two-time Indianapolis 500 winner A.J. Foyt has signed a deal to be the celebrity spokesperson for a newly-launched Internet solutions company in Houston called GlobeNetix. The marketing arrangement between GlobeNetix and Houston-based...

Go ahead, make his day: Clint takes on the ADA.
May 26, 2000... Becky Ogle is no Clint Eastwood fan. The disabled rights activist from Bethesda, Md. parked her wheelchair outside the House Judiciary Committee's hearing room to confront the movie star after he testified in favor of modifying the...

Southdown takeover target for leading British cement maker.(Blue Circle Industries PLC)(Brief Article)
May 26, 2000... After putting itself in play, Houston-based cement manufacturer Southdown Inc. has surfaced as takeover bait for the largest British cement maker. Southdown, a leading cement manufacturer in the U.S., is reportedly mulling its sale to...

Sysco Corp.(stock price reaches all-time high)(Brief Article)
May 26, 2000... Sysco Corp. shares hit an all-time high this month, as investors scrambled for safety amid wild swings in the stock market. Houston-based Sysco, the largest food distributor in North America, on May 11 reached a new peak of $42 -- up 20...

Consolidated Graphics.(stock prices suffers)(Brief Article)
May 26, 2000... Among the many reeling stocks this year is former high flier Consolidated Graphics. The Houston-based operator of printing companies on May 15 sagged to a three-year low of $10.38. At its recent close below $11, the stock has plunged...

Retail complex planned on last parcel of 'Johnny Carson tract'.
May 26, 2000... The final portion of what has become commonly known as the "Johnny Carson tract" in Northwest Houston is under contract to a group of retail developers who plan to transform it into a retail mecca encompassing nearly 400,00 square feet of...

The Custom Shop.(acquired by Houston retailer Tim Belton)(Brief Article)
May 26, 2000... Houston retailer Tim Belton has completed the purchase of New York-based The Custom Shop out of bankruptcy - thanks to a $9 million cash infusion from a group of Houston and Austin investors. Belton, co-founder of Houston-based Express...

May Department Stores Co.(Mark Weikel named chairman of Foley's)(Brief Article)
May 26, 2000... * There's a new face in the driver's seat at Houston-based Foley's. Mark Weikel, formerly Foley's senior vice president and chief financial officer, took over the chairman's reins on May 15. He replaces Kenneth Wilkerson, who was...

Diverse Networks gets Wireless boost from San Diego investor.(investment from Wireless Facilities Inc.)(Brief Article)
May 26, 2000... Diverse Networks Inc. got a financial boost this week from a global leader in the wireless industry that could send its growth rate beyond 100 percent for the year. San Diego, Calif.-based Wireless Facilities Inc. made an equity...

VeriCenter Inc.(merges with Erapmus Network Services)(Brief Article)
May 26, 2000... Houston-based VeriCenter Inc., formerly VeriPoint Inc., has merged with Erapmus Network Services out of Dallas to create one of the largest application service providers in Texas. VeriCenter is not disclosing the terms of the deal, but...

Sizzling summer signals soaring profits for power marketers.(Brief Article)
May 26, 2000... Another summer of sizzling temperatures and shortages of peak power supply could translate into strong earnings for several Houston-based power marketing companies. Dynegy, Reliant Energy and Enron can expect higher earnings based on...

PGS Data Management.(helping the Russian government put that nation's oil and gas exploration data online)(Brief Article)
May 26, 2000... A Houston oilfield services company is helping the Russian government put that nation's oil and gas exploration data online. PGS Data Management, a subsidiary of Petroleum Geo-Services, has been chosen by Russia's Ministry of Natural...

High-rise high flyers.(Ziegler Cooper Architects)(Brief Article)
May 26, 2000... Inside and out, architects Scott Ziegler and Michael Cooper landed some marquee projects R. Scott Ziegler and Michael Cooper bucked tradition the summer before graduating from Rice University's School of Architecture. While most of their...

New owners of Gulf Publishing put landmark building on block.(Brief Article)
May 26, 2000... After months of speculation, the 84-year-old building on Allen Parkway near Waugh Drive that has been home to Gulf Publishing Co. for as many years is being put on the block. The sale comes just off the heels of Gulf Publishing's recent...

Clear Lake Commerce Center.(Brief Article)(Statistical Data Included)
May 26, 2000... Dallas-based Jackson-Shaw Co. has broken ground on a single-story speculative office facility in Clear Lake. The Clear Lake Commerce Center, located on the southwest corner of Feathercraft near Flint Ridge just off Bay Area Boulevard,...

Westwood Technology Center.(Brief Article)(Statistical Data Included)
May 26, 2000... Westwood Technology Center (the old Westwood Mall) has signed a 10-year lease with Houston-based HyperDynamics Corp. The information technology service provider will house its IT hosting center in 15,000 square feet of space on the first...

A gem of an assignment sends Cool Films to Russia with love.
May 26, 2000... Even before the Kremlin jewels and artwork arrived in Houston, some ad folks from Houston got a chance to view them in native surroundings. Cool Films and its client, the Houston Museum of Natural Science, recently packed their bags - and...

House committee passes bill to allow unlimited H-lB visas.
May 26, 2000... The House Judiciary Committee has passed legislation that would allow an unlimited number of H-lB visas to be issued to foreign professionals, but the bill includes several eligibility requirements opposed by the high-tech industry. The...

House schedules vote to phase out 'death tax'.(House of Representatives botes to phase out federal estate tax)(Brief Article)
May 26, 2000... The House is expected to vote on legislation to phase out the federal estate tax the week of June 5. Congress passed similar legislation last year as part of a $792 billion tax cut, but that package was vetoed by President Bill Clinton....

OSHA tightens procedures on interpretation letters.(Occupational Safety and Health Administration)(Brief Article)
May 26, 2000... In the wake of an about-face on home work places, the Occupational Safety and Health Administration is changing its procedures to make sure agency officials do not assert new policies when they respond to questions from employers. A Nov....

New SBA partnership targets Asian-Americans.
May 26, 2000... The Small Business Administration has agreed to work with the National Coalition for Asian Pacific American Community Development to increase business opportunities for Asian Americans. The outreach effort is part of SBA's program to help...

Cultural communications.(Gilbreath Communications Inc.)(Brief Article)(Company Profile)
May 26, 2000... Audrey J. Gilbreath's advertising firm offers companies an entree to the African-American market Audrey J. Gilbreath has always had a plan. When interviewing for a job at the Houston office of J.W. Thompson, she was asked what she...

SBA plays role in financing local business growth.
May 26, 2000... John F. Kennedy proclaimed the first National Small Business Week in 1963 to honor small businesses. Every President since has continued to designate a special week for this recognition ,and President Bill Clinton has proclaimed the week of...

SBA 'advocates' offer boost to growing small businesses.(Brief Article)(Statistical Data Included)
May 26, 2000... The Houston Small Business Administration annually honors those deemed "advocates" for small businesses. The yearly SBA awards include: Accountant Advocate, Financial Services Advocate, Minority Small Business Advocate, Small Business...

Statistics bear out important role of small business.(Brief Article)(Statistical Data Included)
May 26, 2000... Despite being overshadowed by major corporations, small businesses are major players in the heartbeat of the U.S economy. For example, statistics show: E-COMMERCE * In 1997, small businesses earned $3.5 billion in e-commerce sales....

SBA award winners highlight entrepreneurial variety, success.(Brief Article)(Statistical Data Included)
May 26, 2000... The U.S. Small Business Administration's Houston District Office has chosen a diverse array of entrepreneurs for a lineup of special honors. Awards include the Entrepreneurial Success Award, the Small Business Exporter of the Year, the...

SBA uses Small Business Week to showcase Houston successes.(Brief Article)(Statistical Data Included)
May 26, 2000... Small Business Week honors the 24 million small businesses in America that employ more than half the country's private work force, create two of every three new jobs, and generate a majority of American innovations. Held from May 21 to...

FROM THE SPONSOR.(Brief Article)(Statistical Data Included)
May 26, 2000... Wolff Companies is proud to sponsor the Houston Business Journal's "Heavy Hitters" section. The commercial real estate brokers featured on these pages are industry leaders, chosen by their companies as their "heavy hitters." They go the...

HEAVY HITTERS.(Brief Article)(Statistical Data Included)
May 26, 2000... Who's who in Houston leading commercial real estate brokerage firms BETZ COMMERCIAL BROKERAGE INC. Tom Condon Jr. Tom Condon Jr., a senior vice president of Betz Commercial Brokerage Inc., has been involved in real estate since...

LARGEST HOUSTON-AREA ARCHITECTURAL FIRMS.(Brief Article)(Statistical Data Included)(Illustration)
May 26, 2000... LARGEST HOUSTON-AREA ARCHITECTURAL FIRMS (Ranked by 1999 Local Gross Annual Billings) 1999 Number ...

Executive Board Welcome Letter.(Brief Article)(Statistical Data Included)
May 26, 2000... Dear Colleague, Welcome to the fourth edition of Worksite Wellness. Our commitment to continuing to provide this insert is driven by the Houston Well Workplace / Well City Initiative's desire to provide employers - large and small, with...

Q&A: WHAT DO HOUSTON'S HEALTH CARE EXECUTIVES HAVE TO SAY ABOUT WELLNESS?
May 26, 2000... WHAT DO HOUSTON'S HEALTH CARE EXECUTIVES HAVE TO SAY ABOUT WELLNESS? The term "wellness," which emerged in the 1960s, is now used as an umbrella concept to encompass a wealth of health programs and services. The Well Workplace/Well City...

What's CHIP?(Brief Article)(Statistical Data Included)
May 26, 2000... An introduction to the Children's Health Insurance Program Enacted by the U.S. Congress in August 1997, the state Children's Health Insurance Program (CHIP) is designed primarily to help children in working families with incomes too high...

PRESCRIPTION FOR A WELLNESS PROGRAM.(Brief Article)(Statistical Data Included)
May 26, 2000... The concept of wellness has become a very popular topic in present day health circles. Wellness is, in essence, an expanded idea of health. Most people think of health as being merely the absence of physical disease. Wellness transcends this...

Certain Symptoms Signal "Red Flag" for Heart Attack and Stroke.
May 26, 2000... American Heart Association, Houston Division Severe heartburn, shortness of breath, and pain that spreads to the shoulders, neck or arms are just a few symptoms you shouldn't ignore because they could mean a real medical emergency - heart...

The Latest on Mental Health.
May 26, 2000... Nearly one in five Americans are afflicted by mental disorders, and many do not seek treatment. In fact, the U.S. Surgeon General recently released the latest report on mental health in America, indicating that mental illness affects close to...

The Raven Grill: Feel-good fare in cozy neighborhood hangout.
May 26, 2000... The proprietors of The Raven Grill are clearly hoping that we will focus on its namesake's poetic associations and conveniently forget that the raven is a scavenger like a buzzard or hyena. It helps that carrion is not on the menu at Sara and...

LARGEST HOUSTON-AREA OILFIELD EQUIPMENT SUPPLIERS.
May 26, 2000... LARGEST HOUSTON-AREA OILFIELD EQUIPMENT SUPPLIERS (Ranked by 1999 Revenue) Company Last Address No. of Year's Telephone ...

George Hermann's lasting legacy still endures in local institutions.
May 26, 2000... The name Hermann is spoken by many Houstonians every day. They may be referring to a hospital, a park, a street, a building or a public square. While the name is well-known, people may know little about the man behind the name: George Henry...

Social Security needs partial privatization.
May 26, 2000... Presidential candidate George W. Bush has announced a plan to reform Social Security that includes a radical proposal - a partial privatization of the financially ailing retirement program. Bush proposes that workers should be allowed to...

Lunar trip still high-tech, high-water mark.(Editorial)
May 26, 2000... Rave on all you want about the Internet. Show off your Palm Pilot, your digital phone, your DVDs, GPS's and/whatever other gizmos or cutting-edge high tech advancements you think are shaping the world. In fact, you can expound all you...

China trade vote has high impact on Houston.(Editorial)
May 26, 2000... In 1998, Texas companies exported $583 million worth of goods to China. Houston accounted for about 54 percent, or $313 million, of that number. Statewide, that is a 46 percent increase in just five years. But this would only be a...

Compression IPO.
May 26, 2000... Compression IPO. Universal Compression Holdings Inc., a Houston-based natural gas compression services company, has launched its $154 million initial public offering of 7 million shares of common stock at $22 per share. All of the shares are...

BMC Software Inc.
May 26, 2000... Tech acquisition. BMC Software Inc. has inked a $70 million deal to buy Or-Yehuda, Israel-based OptiSystems Solutions Ltd. BMC Software will pay $10 cash for each share of OptiSystems' ordinary shares making the transaction worth...

New retail tenant.
May 26, 2000... New retail tenant. Seattle, Wash.-based fashion specialty retailer Nordstrom Inc. has inked a deal with Urban Shopping Centers Inc., a Chicago, Ill.-based real estate investment trust, to build a store in the Galleria as part of the mall's...

Ocean drilling.
May 26, 2000... Ocean drilling. Pride International Inc. says its new drillship Pride Angola has commenced operations offshore Angola for Elf Exploration Angola. The vessel is contracted to work for Elf for an initial term of three years. The Pride Africa, a...

Well production.
May 26, 2000... Well production. Exploration and production company PANACO Inc. says the D.T. Sturlese No. 1 well is producing 10,302 million cubic feet per day with 331 barrels of condensate per day and 25 barrels of water per day. The well is in the Price...

Deepwater discovery.
May 26, 2000... Deepwater discovery. Texaco Inc. and its partner Agip Petroleum Exploration Inc., an affiliate of Eni SpA, say they have a recent deepwater Gulf of Mexico wildcat oil discovery in the Atwater Valley Block 63, located about 160 miles south of...

Pipeline contract.
May 26, 2000... Pipeline contract. Enterprise Products Partners LP has awarded Eunice, La.-based Sunland Construction Inc. a contract to build the Lou-Tex NGL Pipeline. The pipeline will be a 206-mile natural gas liquids pipeline originating in Breaux...

Alliance fortified.
May 26, 2000... Alliance fortified. BMC Software Inc. say's it has strengthened its business alliance with Compaq Computer Corp. with a worldwide reseller agreement. Under the agreement, Compaq will resell and use BMC Software's distributed system...

Airfreight expansion.
May 26, 2000... Airfreight expansion. Airfreight forwarder Eagle Global Logistics Inc. has completed the first phase of its Latin American expansion project with the addition of key airfreight facilities throughout the region. Since early 1999, Eagle began...

PEOPLE ON THE MOVE.
May 26, 2000... ACCOUNTING Grant Thornton announced the hiring of David Phelps and Terry Sherrill both as internal audit service managers. AuditForce Inc. has added Bruce Holland, Paul Shinabarger, Gena Crawford, Mary Beth Bordonaro, Michael...

Memorial Hermann Fort Bend Hospital Auxiliary.
May 26, 2000... Memorial Hermann Fort Bend Hospital Auxiliary has donated $10,000 to the Fort Bend County Women's Center Capital Campaign to build a new shelter. This gift will help to fund one of 20 residence rooms in the new facility.

Bayside Printing Company Inc.
May 26, 2000... Bayside Printing Company Inc. of Houston has won the following awards at the 2000 Texas Graphic Excellence Competition sponsored by Printing Industries of the Gulf Coast and Printing & Imaging Association of Texas: In the Division II category...

Association Management Inc.
May 26, 2000... Association Management Inc. has been selected to provide community association management services to Grand Harbor Property Owners Association Inc. with effect from May 10. In addition, Association Management has been selected to provide...

Dividends.
May 26, 2000... NL Industries Inc. has declared a reqular quarterly dividend of 15 cents per share on its common stock, payable on June 30 to stockholders of record on June 15.

Earnings.
May 26, 2000... Earnings 3TEC ENERGY CORP. 1st Qtr. ended March 31 2000 1999 revenue in 1,000s 17,253 3,249 net income (loss) in 1,000s 3,116 (906) per share ...

Publisher's letter.
May 26, 2000... The Houston Business Journal's "Business Survival Guide" offers an overview of major areas in which business owners or managers may need advice related to the huge array of laws and regulations they continually confront as they go about the...

BOWNE.(Brief Article)
May 26, 2000... Attention to customer service has been the driving force behind business operations at Bowne & Co., Inc. ever since Robert Bowne first opened the doors of his stationery shop in 1775. Ever mindful of the changing dynamics of the financial and...

Intellectual Property/Technology Law.
May 26, 2000... The area of law concerning intellectual property is one of the most active and volatile today, due to major breakthroughs in computer and Internet technology. Companies have always tried to protect inventions, product formulas and even their...

Litigation.
May 26, 2000... When all attempts to resolve a disagreement fail, one party may decide to litigate, or carry on a lawsuit. Litigation is not literally a special type of law; but some attorneys do specialize in litigating rather than providing other services...

It pays to spend time choosing a top personal injury attorney.(Brief Article)
May 26, 2000... The largest personal injury verdict in history -- $4.9 billion -- was handed down last summer against one of the nation's leading automotive manufacturers. Despite General Motors' army of top lawyers, the case was won by two attorneys...

Employment Law.
May 26, 2000... Employment law is a huge subject, encompassing almost all areas of the employer/employee relationship except those specific to labor law and collective bargaining. It revolves around both the employer's and the employee's rights, their duties...

Securities Law.
May 26, 2000... Securities exist in the form of notes, stocks, treasury stocks, bonds, certificates of interest or other profit-sharing agreements. Securities themselves have no value; their worth comes from the claims they entitle their owner to make upon...

Real Estate Law.(Statistical Data Included)
May 26, 2000... Real estate law is based on a large body of federal statutes and state statutory and common law. The requirements established by state law often differ significantly from one state to the next. If a business intends to purchase property,...

Bankruptcy Law.
May 26, 2000... Bankruptcy law provides for the development of a plan allowing debtors to resolve debts by dividing assets among creditors. This supervised division allows the interests of all creditors to be treated with a measure of equality. ...

Estate Planning.
May 26, 2000... Preserving assets and rights of succession after death are important issues for all people, but particularly business owners. Estate planning laws provide options to clearly state and enact a person's "will," that is, how he/she wants wealth,...

Transactional Law.
May 26, 2000... Transaction law is one of the major categories of law, covering all of the contracts involved in owning and running an enterprise. Arranging for a license or permit is a simple type of transaction; the merger of international corporations is...

Tax Law.
May 26, 2000... Corporations file tax returns just like individuals do, covered by another, intricate body of rules. While they are subject to a "double tax" (both corporate profits and shareholder dividends are taxed), corporations are taxed at a rate lower...

Confidentiality problems arise during acquisition process.
May 26, 2000... Acquisitions are in many respects similar to the marriage process with individuals. There is an initial engagement, then the dating game, then matters become more serious when both parties focus on long-term issues, and then there are (or...

Grocery-works.com.(Brief Article)(Statistical Data Included)
May 26, 2000... The Dallas-based online grocery delivery service put up a dozen billboards in early April that simply depicted produce and a catch phrase. But after about a month, the company's name was finally added and the produce transformed into smiling...

Breaking Compromises: Opportunities for Action in Consumer Markets.(Brief Article)(Statistical Data Included)
May 26, 2000... Edited by Michael J. Silver-stein, and George Stalk Jr. For some of the most spectacular business success of the past several years, the key to sustained growth through innovation is knowing how to identify and break the fundamental...