Houston Business Journal articles from May 2000

Houston Business Journal archives from May 2000

CEO salaries surging in Houston.(Brief Article)
May 5, 2000... Top executives boost take-home pay with seven-figure raises The second-in-command at Continental Airlines Inc. is neither chairman nor CEO, but in 1999 he amassed a higher salary and bonus package than any executive fetched at a publicly...

New York agency nabs Compaq account.(Brief Article)
May 5, 2000... Computer giant picks Internet expertise in awarding $350 million ad contract One of the most lucrative ad accounts in Houston is going to a New York agency. Compaq Computer Corp. this week awarded its $350 million advertising account...

Market woes dog accounting consolidator: Sliding stock, disagreements lead to litigation.(Statistical Data Included)
May 5, 2000... It took 10 years for founder David Fuchs to grow Tri-Tek Information Systems Inc. into a $35 million company. It took only three months for Fuchs to leave the St. Louis-based company after he sold it to Century Business Services Inc.,...

Market woes dog accounting consolidator: Houston firm seeks to split from CBIZ.(CBIZ/Funds Administration Services Inc.,)(stock prices)(Brief Article)
May 5, 2000... One Houston company that merged with business services consolidator Century Business Services Inc. is looking to break away from the Ohio-based firm, while others say they are disenchanted with the company's stock price but not concerned about...

Azurix water bugs Argentina.(water contamination)
May 5, 2000... Azurix Corp. has had a rough ride since the Enron subsidiary was spun off as a public company last summer. In the latest episode, Azurix has landed in hot water in Argentina. Authorities in the city of Bahia Blanca have warned nearly a...

Head 'em up and haul, 'em out.
May 5, 2000... The Houston Livestock Show and Rodeo might hear a stampede forming in the rear. The "Truck Drivers' and Mechanics' Road-e-o" offers a free-wheeling option to its better-known competitor. Few rodeo devotees could refuse this alternative...

OTC computers hit a dry hole.(Offshore Technology Conference, Texas)(Brief Article)
May 5, 2000... The topic of discussion in the press conference room at the Offshore Technology Conference at the Astrohall Monday was how electronic commerce is impacting the oil and gas industry. Inside, a panel of industry experts discussed how...

Houston tennis legend finds new labor of love.(Sammy Giammalva Jr.)(Brief Article)
May 5, 2000... Sammy Giammalva Jr., a name synonymous with tennis in Houston, has purchased the Wimbledon Racquet Club in Spring and is planning a million-dollar overhaul to the 24-year-old club. Giammalva has renamed the club Giammalva Racquet Club at...

Expansion plans fill Ruggles plate.(Brief Article)
May 5, 2000... For nearly 15 years, Bruce and Susan Molzan spent their time operating the upscale Ruggles Grill in Houston. Within the past few months, however, they have expanded their restaurant operations into a considerable chain. And future plans could...

Tanglewood Corp.(Jamba Juice, Starbucks)(Brief Article)
May 5, 2000... Java and Jamba Juice are about to make a mix. Tanglewood Corp. president Kendall Miller confirms that the company is planning to develop a pad site that will be occupied by a dual-concept restaurant at the intersection of Post Oak and...

Landry's Seafood Restaurants Inc.(Brief Article)
May 5, 2000... A proposed merger between Houston-based Landry's Seafood Restaurants Inc. and Rainforest Cafe Inc. of Minneapolis, Minn., got rained out last week. A shareholder vote was postponed from April 18 to April 28 after a dissident shareholder,...

Mama Ninfa.(Brief Article)
May 5, 2000... Mama Ninfa's Restaurant is cooking up something big - the world's largest taco. Mama Ninfa's will compile the gastronomic nightmare in front of Houston City Hall at 900 Smith St. on May 5, in honor of Mexican holiday Cinco de Mayo. ...

Mediterranean meets Houston in new urban office complex.(Brief Article)(Statistical Data Included)
May 5, 2000... Houston developer Andrew Choy unveiled plans this week to build eight upscale Mediterranean-style professional buildings off the Southwest Freeway near Hillcroft. The $20 million project will be constructed on 6.5 acres of land, which are...

Synagro takes over top spot with acquisition of Bio Gro.(Brief Article)(Statistical Data Included)
May 5, 2000... CEO buys out former employer for $201 million Ross Patten, CEO of Synagro Technologies, has bought his former employer and defeated another competitor in the process. Synagro, a Houston-based waste management consolidator, has signed...

Canadian brokerage adds energy coverage.(Brief Article)
May 5, 2000... RBC Dominion Securities has launched coverage of 32 oil and gas producers and 32 oilfield service companies. RBC Dominion, the brokerage unit of Royal Bank of Canada, announced plans to open an office in Houston last year. John Selser,...

Lawyers switch from D.C. to Chicago in Houston.(Brief Article)
May 5, 2000... The Houston office of Chicago-based Baker & McKenzie has lured several litigation lawyers and staff members from the Houston office of Washington D.C.-based Verner, Liipfert, Bernard, McPherson and Hand. Baker & McKenzie's new litigation...

Public distrust of Internet raises concerns over personal privacy.
May 5, 2000... Spread of 'cookies' fuels consumer fears As of April 21, Web sites must obtain parental consent before they collect, use or disclose personal information about children -- requirements signed into law last year. Privacy advocates now...

Rice follows fellow grocers into e-commerce with investment.(Brief Article)(Statistical Data Included)
May 5, 2000... Epicurean markets will provide fulfillment for foodlocker.com orders Not wanting to be left out of the cyber-grocery craze, Houston-based Rice Epicurean Markets has joined the e-commerce game by making a major investment in an online food...

Quanta picks up $400 million broadband deal.(Brief Article)(Statistical Data Included)
May 5, 2000... Houston-based Quanta Services Inc. landed a contract last week worth $400 million to install a broadband communications network in the Kansas City, Mo., area. At the same time, the firm's largest shareholder -- UtiliCorp United Inc. --...

Builder wires Acres Homes with affordable high-tech habitats.(Brief Article)
May 5, 2000... The first female builder of affordable homes in Houston has completed construction of the first in a series of 10 low-cost "intelligent-powered" homes in the Acres Homes community. Houstonian Martha Harris-White created Morgan Kendal Homes...

Sam Houston Parkway North.(Brief Article)
May 5, 2000... The 433 NorthPark Central building off Interstate 45 between Richey Road and Sam Houston Parkway North has signed a new tenant to fill more, than half the space in the 100,800-squarefoot spec property. Nancy Sarnoff, Houston Business...

ABB Automation.(Brief Article)(Statistical Data Included)
May 5, 2000... ABB Automation has leased 58,800 square feet of space, and according to Andy Billipp of J.A. Billipp Co., negotiations are in the works to fill the remainder of the building. Houston-based J.A. Billipp Co. completed construction on 433...

Continental Airlines Inc.(Brief Article)(Statistical Data Included)
May 5, 2000... Continental Airlines Inc.; Custom Training Group Inc.; Rockwell Automation, a division of Reliance Electrical Industrial Co.; and Daimler Chrysler Motors Corp. have taken a total of 56,400 square feet of space at 533 NorthPark Central Drive....

Equis Corp.(Brief Article)
May 5, 2000... Brokers involved in the leases include Jim Foreman of Cushman & Wakefield and William Wolff of Equis Corp. On the west side of town, the team from Grubb & Ellis also handled the sale of 9500 West Gulf Bank, just east of Highway 290. ...

Midway Gessner Partners.(Brief Article)
May 5, 2000... Midway Gessner Partners purchased the 115,649-square-foot building, from Keystone International, a division of Exeter, N.H.-based Tyco International. The building currently is leased to Arima Computer of Texas. Nancy Sarnoff, Houston...

Dallas bank with deep pockets eves move into Houston market.(Brief Article)(Statistical Data Included)
May 5, 2000... Texas Capital Bank, launched in Dallas with a national record for initial capitalization, plans to make a, foray into Houston. The closely held independent bank, which made a splash with opening-day equity of $80 billion in January of 1999,...

Washington Mutual Corp.(Brief Article)(Statistical Data Included)
May 5, 2000... Washington Mutual Corp., the largest thrift -in the nation, is opening a second Sugar Land branch. The Seattle, Wash.-based financial services giant, which has company-wide assets of $189 billion, entered the Houston market through its...

Compass Bank.(Brief Article)
May 5, 2000... Compass Bank has named Bruce Hagemann to manage brokerage services in Texas. Birmingham, Ala.-based Compass, whose biggest market is Houston, says Hagemann also will manage Arizona, Colorado and New Mexico brokerage activity. Hagemann will...

McCann Erickson shifts Southwest HQ base from Houston to Dallas.(Brief Article)(Statistical Data Included)
May 5, 2000... McCann Erickson is rearranging operations in Texas. While the agency will continue to maintain an office here, the Southwest headquarters will be moved from Houston to Dallas, according to Tom Hooke, director of account planning in Houston. ...

Rives Carlberg.(Brief Article)
May 5, 2000... Rives Carlberg has beefed up its Web and creative talent. The advertising and public relations firm has started up a new department called the "Interactive Design Group." The division will handle Web site-related work for clients,...

Forbes.(Brief Article)
May 5, 2000... Forbes magazine's Houston bureau has a new chief. Dan Fisher, who has been associate editor at the local office, was officially named bureau chief on April 1. The spot was vacated when Chris Palmeri left to take the spot of senior...

Push.(Brief Article)
May 5, 2000... Push, a local advertising startup, is already moving up town, well actually downtown. The team recently moved into temporary space at 101 Crawford in the Wagon Works Building. Next month, Push will move yet again - for good - to 100 Jackson....

Energy trading platform ready to launch after crude acquisition.(Brief Article)(Statistical Data Included)
May 5, 2000... Houston-based RedMeteor.com acquired TCT Crude Inc. last week in preparation for a full launch of a new electronic energy commodity trading platform. RedMeteor did not disclose how much was paid for TCT Crude, an institutional crude broker...

BMC Software Inc.(Brief Article)(Statistical Data Included)
May 5, 2000... BMC Software Inc. acquired Austin-based Evity Inc. this week in a cash-and-stock deal valued at $100 million. What Houston-based BMC gained in the transaction is SiteAngel 2000, Evity's Web site management system. SiteAngel 2000 is able to...

Compaq Computer Corp.(introduces Bid Tool)(Brief Article)(Statistical Data Included)
May 5, 2000... Compaq Computer Corp. has developed a tool that will allow it to sell specially offered products to resellers online. The Compaq Factory Outlet made Bid Tool available in mid April to all of the 10,000 to 11,000 Compaq-authorized resellers....

Maingate Corp.(merges with ChanneLinx.com)(Brief Article)(Statistical Data Included)
May 5, 2000... Houston-based Maingate Corp. announced last week that it has merged with Greenville, S.C.-based ChanneLinx.com Inc. The value of the deal was not disclosed, but the transaction became final when ChanneLinx completed a funding round that...

Bringing home the Russian gold.(Statistical Data Included)
May 5, 2000... Kremlin exhibit is Truett Latimer's latest coup as president of the Houston Museum of Natural Science Truett Latimer spent seven years clearing global hurdles to bring a rare collection of Russian artifacts to the Houston Museum of Natural...

Dueling jewelry: Online retailers escalate competition on Internet.(Bodyflash.com, Ashford.com)(Brief Article)
May 5, 2000... In an attempt to compete on a new level with Houston-based online jewelry rival Bodyflash.com and reduce reliance on manufacturers, Houston Internet retailer Ashford.com will begin selling its own brand of jewelry on its Web site. Until...

North American Properties.(Brief Article)(Statistical Data Included)
May 5, 2000... A deep-rooted Ohio-based real estate development company is making a power play into the Houston market with a 361,000-square-foot power center in Tomball. North American Properties of Cincinnati, making a major move toward the South, has...

Sugarland Properties Inc. (SPI).(reports real estate development projects)(Brief Article)(Statistical Data Included)
May 5, 2000... Sugarland Properties Inc. (SPI) is in the final stages of development in the First Colony master-planned community. And First Colony's Sweetwater Plaza shopping center is no exception. The center, located at Highway 59 and Sweetwater Plaza,...

Holiday World.(moves)(Brief Article)(Statistical Data Included)
May 5, 2000... Recreational vehicle dealer Holiday World of Houston has pulled up stakes and moved from the North Freeway to Katy. The new dealership, located at 28909 Katy Freeway near Pederson Road, spans 15 acres and is one of the largest RV...

All parties seeking second opinions on proposed medical privacy rules.(Brief Article)(Statistical Data Included)
May 5, 2000... Hospitals, insurers and employers say proposed medical records privacy regulations will be difficult to administer, resulting in increased health care costs. Biotechnology companies fear the confidentiality requirements will make health...

BOOKS.
May 5, 2000... How to Become an Employer of Choice By Roger E. Herman and Joyce L Gioia If winning the war for talent is a major goal then "How to Become an Employer of Choice" is designed to teach: * What's working for others -- proven ideas...

Home court advantage.(Statistical Data Included)
May 5, 2000... Hard work has helped Drexler Custom Homes glide to new business Before starting their own company, Virginia Westbrooks and, Denise Drexler Pink were well aware that having a famous name doesn't mean a slam dunk in business. Westbrooks...

Compelling Claims.(insurance claims of Holocaust victims and descendants)(Statistical Data Included)
May 5, 2000... Risk International, which forged a niche delving into historical archives for long-forgotten insurance policies, has found itself caught up in a major international issue -- one that could affect insurance claims of Holocaust victims and their...

Study forecasts increases in commercial insurance rates.(Brief Article)(Statistical Data Included)
May 5, 2000... After 13 consecutive years of decreases, commercial insurance rates for many buyers may have hit bottom in 1999. Now, insurance companies generally are seeking modest rate increases for many types of coverage -- even from Houston-area...

Insurance broker network launches Internet component.(Brief Article)(Statistical Data Included)
May 5, 2000... Greenwich, Conn.-based Benefit-Port, established three years ago as a traditional company that provides a network of insurance brokers with employee benefits plan information, has launched an Internet component (www.benefitport.com). Among...

TDI cuts rates for credit life and disability insurance.(Brief Article)
May 5, 2000... A significant cut in credit insurance rates that took effect in April is making a dent in the amount Texans who buy credit insurance pay when they borrow money for big-ticket items. The Texas Department of Insurance reduced rates for credit...

Texas insurance companies have no place to hide.(Brief Article)(Statistical Data Included)
May 5, 2000... Information about Texas insurance companies and HMOs, including complaint comparisons, is available on the Texas Department of Insurance's Web site (www.tdi.state.tx.us). The site includes key facts on each of the more than 2,700 insurers,...

LARGEST HOUSTON-AREA PROPERTY/CASUALTY INSURANCE COMAPNIES [*].(Statistical Data Included)
May 5, 2000... LARGEST HOUSTON-AREA PROPERTY/ CASUALTY INSURANCE COMAPNIES [*] (Ranked by Amount of Direct Premiums Written in 1998) Last Company ...

Health insurance industry rallies to meet challenges.(Brief Article)(Statistical Data Included)
May 5, 2000... Americans are demanding change from their health insurers. A recent Lou Harris/CNN poll shows that consumers feel that managed care has not improved care. A Mercer/Foster Higgins survey indicates that fee-for-service, HMO and point-of-service...

LARGEST HOUSTON-AREA BASED LIFE INSURANCE COMPANIES [*].(Statistical Data Included)
May 5, 2000... LARGEST HOUSTON-AREA BASED LIFE INSURANCE COMPANIES [*] (Ranked by Amount of Net Premiums Written in 1998) Last Company Amount of Net Year's Address ...

E-commerce growth requires attention to risk management.(Brief Article)(Statistical Data Included)
May 5, 2000... Traditional insurance policies are built on physical assets and physical perils, such as fires, hurricanes, floods and earthquakes. And the vast majority of these first-party and third-party insurance contracts only protect on these...

Insurers add value through online education programs.(Brief Article)(Statistical Data Included)
May 5, 2000... Web-based learning is rapidly gaining momentum as a highly efficient way to deliver knowledge within the business and industry -- including the insurance field. A significant bonus is the combination of e-learning and e-certification for busy...

Hospital bill keeps public in the dark.(in Texas)(Brief Article)
May 5, 2000... Every story has at least two sides. But both sides of the story at hospitals and mental health institutions cannot be told, thanks to a recently enacted law passed by the 1999 Texas Legislature. On one side of the issue is the Texas...

Spring brings strange swarm of insect pests.(Brief Article)
May 5, 2000... Each year, come spring, a new onslaught of household pests arrives. And with them come the pitches from various pest control specialists. This year is no exception. The flyers, brochures and promotional pamphlets from urban terminators...

Fix federal tax code while sun still shines.(Brief Article)
May 5, 2000... There is an old saying that goes something like this: "The time to fix the roof is when the sun is shining." Currently, the sun is shining brightly on the United States. The country is enjoying economic growth and prosperity that is...

LETTERS TO THE EDITOR.(Brief Article)
May 5, 2000... Travel agendas In response to the Apr. 21 story, "Big carriers create Internet air force," I laugh at these travel agents who are trying to get the Justice Department to investigate (stop) the airlines from launching this Web site with...

Expansion project.(Southern Natural Gas Co. files expansion plan with Federal Energy Regulatory Commission)(Brief Article)
May 5, 2000... Southern Natural Gas Co., a business unit of El Paso Energy Corp. has filed with the Federal Energy Regulatory Commission to expand its pipeline system by 335.8 million cubic feet of natural gas per day. The expansion project, known as the...

Well drilling suspended.(Brief Article)
May 5, 2000... Exploration and production company EEX Corp. reports that its Liano No. 3 well, located at Garden Banks Block 386, has reached a total depth of 23,090 feet before conditioning and logging tools became stuck in the well bore. Although efforts to...

New nonstop service.(Brief Article)
May 5, 2000... Continental Express, the regional airline subsidiary of Continental Airlines. Inc. has initiated daily nonstop service between its hub at Houston's George Bush Intercontinenta1 Airport and Puebla, Mexico. The new nonstop offers an alternative...

Manufacturer acquisition.(Cooper Industries Inc. acquires B-Line Systems Inc.)(Brief Article)
May 5, 2000... Cooper Industries Inc. has completed its purchase of B-Line Systems, an Illinois-based electrical construction materials manufacturer, for $425 million from Sigma-Aldrich Corp., based in St. Louis, Mo. B-Line had. 1999 revenues of $253 million....

Shopping center buy.(Weingarten Realty Investors by Topeka, Kansas, shopping center from CLM Realty Trust)(Brief Article)
May 5, 2000... Real estate investment trust Weingarten Realty Investors has bought a shopping center in Topeka, Kansas from CLM Realty Trust, a Kansas City, Mo.-based trust. A sale price has not been disclosed. The center is situated on 10.2 acres and...

Travel services.(Brief Article)
May 5, 2000... Internet incubator First Capital International Inc. has acquired Houston-based Flamingo Travel Inc., an online, full-service travel agency. In business since 1993, Flamingo Travel will become a wholly. owned subsidiary of First Capital, and...

Gas supply deal.(Clark Refining and Marketing Inc.;)(Reliant Energy Retail Group)(Brief Article)(Statistical Data Included)
May 5, 2000... Clark Refining & Marketing Inc. has awarded the Reliant Energy Retail Group, a unit of Reliant Energy, a long term natural gas supply contract to provide as much as 43.8 billion cubic feet of gas per year to Clark Refining's Port Arthur...

Crude oil operations.(Brief Article)
May 5, 2000... Dynegy Inc. says it has sold its U.S.-based crude oil business to Seminole Transportation and Trading Inc. The deal includes Dynegy's entire U.S. crude oil enterprise, including its transportation and marketing operations and assets located in...

Exploration deal.(Conoco Inc.;)(Petro Vietnam;)(Korean National Oil Corp.)(Brief Article)(Statistical Data Included)
May 5, 2000... Conoco and its partners Petro Vietnam and Korean National Oil Corp. have inked a petroleum deal to begin exploration of Block 16-2 offshore Vietnam. Conoco will serve as operator during the, exploration phase and will form a joint operating...

Nursing profession embarked on mission of mercy 100 years ago.(Brief Article)
May 5, 2000... When this photograph was taken at Baptist Sanitarium about 1915, nursing was a relatively new profession in Houston. Although Florence Nightingale had established professional nursing in England in 1860, her program was slow to reach the United...

PEOPLE ON THE MOVE.(Brief Article)
May 5, 2000... ACCOUNTING Michael Karlins has been appointed to the advisory board for The Cynthia Woods Mitchell Pavilion. AuditForce Inc. has added Jeff Bosco, Wallace Bennett, David Coleman, Chris Firle, Cynthia Haywood and Sidney Lacey as...

YMCA of the Greater Houston Area.(Brief Article)
May 5, 2000... 1600 Louisiana, 2nd Floor Houston, TX 77002 (713) 659-5566 PURPOSE OF THE ORGANIZATION: The YMCA's mission is to put Judeo-Christian principles into practice through programs that build healthy spirit, mind and body for all....

Marion Graphics L.C.(Brief Article)
May 5, 2000... Marion Graphics L.C. has changed their name to The Marion Group to better reflect its expanded electronic marketing and communications capabilities. The Marion Group also offers e-marketing, e-commerce, multimedia and Web design solutions.

Earnings.(Brief Article)
May 5, 2000... Earnings AMERICAN GENERAL CORP. 1st Qtr. ended March 31 2000 1999 revenue in 1,000s 5,514,000 4,735,000 net income (loss) in 1,000s 285,000 287,000 per share...

Buick Regal: 'High-energy' sedan targets youngish Boomer set.(Brief Article)(Review)(Statistical Data Included)
May 5, 2000... Two on the Road Buick Regal Mid-size family sedan Base price: $22,670 Mpg: 20/29 200 hp; 18/27 240 hp Competitors: Ford Taurus, Dodge Intrepid, Chrysler Concorde, Pontiac Grand Prix, Chevrolet Impala and loads of other...

A good Web designer requires skills beyond HTML programming.(Brief Article)(Statistical Data Included)
May 5, 2000... Ready to go live on the Internet? Or is your existing Web site ready for an overhaul? Unless you happen to work for a design firm, you probably don't have the in-house resources to create a site that dazzles. It's time to hire some help. ...

A fulfilling career can be a key in the quest for happiness.(Brief Article)(Column)
May 5, 2000... Happiness. Working. Your career. Are these three mutually exclusive? Dare we even consider generating happiness in ourselves through our work? And what role does our career (doing what we do best, what we love to do, and in an environment which...

Museum of Fine Arts Houston.(Brief Article)
May 5, 2000... While at Ogilvy & Mather, Holland and Tobin worked for pro bono client the Museum of Fine Arts Houston. Although the local O&M office closed, the museum has moved, to sister agency J. Walter Thompson, says Francis Carter Stevens, public...

Bank enters Dallas as investors rebel.
May 12, 2000... Stagnant stock price prompts Sterling stockholders to push for sale to highest bidder Sterling Bank of Texas has expanded beyond the Houston market for the first time in its 26-year history. But even as parent Sterling Bancshares Inc....

Sky's the limit on high-rise fees.
May 12, 2000... Lofty allure of condos can come with a hefty maintenance price When Steven and Monica Hempel began to search for a new home earlier this year, they knew up front that they wanted an upscale high-rise condominium in a thriving neighborhood....

Teams pick sides in football name game.(Brief Article)
May 12, 2000... Houston NFL Holdings and the Harris County Sports & Convention Corp. have each hired firms to put a price tag on a naming rights deal for the county-owned football and rodeo stadium now under construction. And at least one local energy firm...

Smith sums up city's status.(Brief Article)
May 12, 2000... Barton Smith sees some probable strengths and potential soft spots in Houston's economic development over the next five years. The University of Houston economics professor and director of the Institute for Regional Forecasting made the...

Energy permit process goes paperless.(Brief Article)
May 12, 2000... Burlington Resources, a Houston based oil and gas exploration company, was issued the first-ever online drilling permit this week by the Texas Railroad Commission. The ceremonial event unveiling the commission's newly developed electronic...

Hyatt plays host to media marathon.(Brief Article)
May 12, 2000... This weekend the Hyatt Regency will resemble a crowded press box at the Olympic Games. At least 300 reporters are expected to invade Houston for the U.S Olympic Committee Media Summit preceding this summer's global sport extravaganza in...

New hoops league set for fast break.(Brief Article)
May 12, 2000... The Houston-based Southwest Basketball League is putting a new spin on local minor league hoops. The league next month will launch the Women's Southwest Basketball League, which will operate as a single-entity league in conjunction with...

Say it with cycles this Mother's Day.(Brief Article)
May 12, 2000... Nothing says "Thanks Mom" like taking her to see a bicycle race for Mother's Day. At least, that's what Houston-based BMC Software would like people to think. The BMC Software Tour of Houston, scheduled for May 14, will send hundreds of...