Houston Business Journal articles from May 2001

Houston Business Journal archives from May 2001

Biotech stocks take a beating.
May 4, 2001... Prices plunge as companies suffer case of post-genomics malaise April has been the cruelest month for publicly traded bio tech companies. A 30-day span of plunging prices has punctured any remnants of the biotech bubble that kept the...

Drugtest passes $15 million funding test.(Drug Intervention Services of America Inc. )(Brief Article)
May 4, 2001... Drugtest.com had to undergo a yearlong test it self before sealing a recent deal that added $15 million to the company's balance sheet. Houston-based Drugtest was formed in February through the merger o Houston-based Drug Intervention...

Shorty, he's what's for dinner.(Houston Livestock Show & Rodeo)(Brief Article)
May 4, 2001... "Shorty" the Grand Champion Steer had a brief fling with fame. The bodacious bovine was a star attraction at this year's Houston Livestock Show & Rodeo, when he was purchased for a record price by Jim "Mattress Mac" McIngvale of Gallery...

Local inventors lock up growth.(ProtekDoor, shock-absorbent door lock)(Brief Article)
May 4, 2001... Houston attorney David Tippetts and local geologist Tim Parks are feeling a bit more secure these days. Their invention, a shock-absorbent door lock, has been picked up by national retail giant Wal-Mart for distribution. The partners...

Developer takes Beaumont Uptown.(Brentwood Investments Development Co. )(Brief Article)
May 4, 2001... Brent Coon of Brentwood Investments Development Co. is mapping out a plan to bring a little of Uptown Park to downtown Beaumont. Coon has broken ground on Tuscany Park, a 12-acre mixed-use development patterned after Interfin Corp.'s ritzy...

Aluminum maker strikes electric gold.(Kaiser Aluminum Corp. )
May 4, 2001... Kaiser Aluminum Corp. may not be selling much aluminum, but the company is racking up big profits in electricity. The company owned by Houston-based Maxxam Corp. has shut down two aluminum production plants in the state of Washington due to...

Superconducting Chu joins illustrious list.(American Association of Engineering Societies)(Brief Article)
May 4, 2001... University of Houston Professor Paul Chu will soon join the ranks of Thomas Edison, Alexander Graham Bell and Orville Wright. The pioneer in superconductivity is receiving the John Fritz Medal from the American Association of Engineering...

The Mercury Room.(Mercury Room)(Brief Article)
May 4, 2001... As downtown temperatures begin to heat up, Houston hot spot The Mercury Room, has plans to help cool down the club crowd. Owner David Edwards will open a street side patio in June that will accommodate 100 people. Patrons not interested in...

Bistro Lancaster.(Bistro Lancaster)(Brief Article)
May 4, 2001... * Downtown building facades aren't the only thing getting face lifts these days. Bistro Lancaster, located in historic The Lancaster Hotel at 701 Texas Ave., is retooling its menu to accommodate the growing palate of downtown diners. The...

Hank Zwirek.
May 4, 2001... * Hank Zwirek of Star Pizza has provided some updated information on an item in the April 20 food and drink section. Rockefeller Hall will not be moving for years to come from the property owned by Zwirek as he shifts around Star Pizza...

Two Texans.(Sen. Phil Gramm and Rep. Ron Paul)(Government Activity)(Brief Article)
May 4, 2001... * Two Texans, Sen. Phil Gramm and Rep. Ron Paul, got the highest scores for fiscal frugality in the annual congressional ratings issued by the National Taxpayers Union. Only 42 members of the U.S. Congress received a grade of "A" from the...

West Coast think.(Brief Article)
May 4, 2001... * A West Coast think tank has slammed the city of Houston for its inability to provide public services efficiently. The Reason Public Policy Institute ranks the Bayou City 36 out of 44 in a survey of data collected from 1993 to 1998. In a...

Industry Week.(Houston)(Brief Article)
May 4, 2001... * On a more positive note, Industry Week has ranked Houston as one of 12 "gold-medal world-class communities" for manufacturing, marking the second consecutive year that the city has won the award.

Packaged Ice hopes for hotter profits in Dallas.(Packaged Ice Inc. )(Brief Article)
May 4, 2001... Publicly traded company to move headquarters after founder resigns Houston-based ice manufacturer Packaged Ice Inc. is packing its bags and heading north. The publicly traded company plans to relocate its corporate headquarters to...

Isle med branch cuts contracts, slashes HMO in half.(UTMB HealthCare Systems )(Brief Article)
May 4, 2001... The University of Texas Medical Branch at Galveston is planning to cut its health maintenance organization enrollment in half by declining to renew four of eight commercial contracts. Dr. Kent Norman, UTMB HealthCare Systems president and...

Auto parts dealer puts on the brakes, files for Chapter 11.(Brief Article)
May 4, 2001... Houston-based Rankin Automotive Group Inc. -- which does business as US Parts -- voluntarily filed for bankruptcy protection late last month in the U.S. Bankruptcy Court of the Southern District of Texas. Rankin which has about 175 local...

Rice students have the 'Wright' stuff.(Brief Article)(Statistical Data Included)
May 4, 2001... Five Rice University graduate business students opened trading at the Nasdaq stock market in New York this week, thanks to their savvy stock picks during a wobbly stretch on Wall Street An investment fund co-managed by wise Owls Jeremy...

Huge land play could yield master-planned community.(Brief Article)(Statistical Data Included)
May 4, 2001... West Houston Land Holdings, led by Gary Perryman, has added a 6,000-acre tract of property to an adjoining 2,000-acre tract it bought three years ago in northwest Harris County for possible development as a master-planned community. Grubb...

Operations purchased.(Brief Article)
May 4, 2001... Enron Corp. announced its Industrial Markets unit has acquired Huntco Inc.'s cold rolling and certain coil pickling operations in Blytheville, Ark. The companies also signed a 15-year deal that calls for Enron to provide inventory price risk...

Bidding for Barrett.(Shell Oil Co., offer to purchase)(Brief Article)
May 4, 2001... Shell Oil Co. said it will maintain its revised $2 billion offer to purchase energy company Barrett Resources Corp., but will leave the door open to negotiations. The revised offer does not include a break-up fee provision. Barrett's board...

Initial public offering.(Brief Article)(Statistical Data Included)
May 4, 2001... Reliant Resources sold 52 million shares at $30 per share to raise $1.56 billion in an initial public offering on April 30. Reliant Resources, a unit of Houston-based Reliant Energy Inc., acquires and develops electric power generation...

Energy assets.(Brief Article)
May 4, 2001... Exploration and production company Ocean Energy Inc. has completed its $118 million acquisition of the oil and gas assets of EnSight Resources LLC, based in Shreveport, La. The properties are located in Texas and Louisiana.

Magic deal.(Brief Article)
May 4, 2001... Dallas-based oilfield services company Hallisburton Co. said its Landmark Graphics Corp. unit has agreed to acquire Magic Earth Inc., a 3-D imaging technology company, for $100 million in stock. Halliburton said Magic Earth, a Houston-based...

Sports merchandise.(Pennzoil-Quaker State Co. )(Brief Article)
May 4, 2001... The Houston Texans have opened a concept store in the Pennzoil-Quaker State Co. retail outlet at Pennzoil Place in downtown Houston. The store -- which carries Pennzoil, Quaker State, Pennzoil Racing and other Pennzoil-Quaker State products --...

Compaq, Starbucks get wired in $100 million tech venture.(Brief Article)
May 4, 2001... Starbucks Coffee Co. is about to give Houston-based Compaq Computer Corp. a jolt. Compaq has signed a $100 million deal with Seattle-based Starbucks to provide Internet services and hardware to the coffee maker's retail stores and...

Pair of Houston companies will energize California power crisis.(Brief Article)
May 4, 2001... Two Houston companies have teamed up in a globe-spanning deal to provide a quick-fix solution for at least a few Californians facing more power blackouts this summer. Hanover Compressor Co., a natural gas equipment and services provider,...

New Caney woos, wins giant Wal-Mart distribution center.(Brief Article)
May 4, 2001... New Caney has beaten out Navasota, Conroe and The Woodlands to land a new Wal-Mart Stores Inc. food distribution center expected to create 600 jobs. Wal-Mart, has acquired a 200-acre site to build the 880,000-square-foot facility eight...

Reliant will challenge PUC order to give customers partial refunds.(Brief Article)
May 4, 2001... While the Texas Legislature this week all but killed a bill that would give Reliant HL&P ratepayers a refund, the Public Utility Commission of Texas ordered Reliant to return $1.24 billion in excess earnings to customers over a period of seven...

Copy stops flowing at news Web site Localbusiness.com.(Brief Article)
May 4, 2001... Fort Lauderdale, Fla.-based Localbusiness.com has stopped posting daily news updates to its Web sites, including the site in Houston. The company is comprised of a network of Web sites covering local business news in 24 markets, including...

Boat has docked on partnership between OSHA, shipbuilders group.(Brief Article)
May 4, 2001... The Houston arm of a national shipbuilders association and the Occupational Safety and Health Administration signed an agreement last week that will limit OSHA inspections for member companies. As part of an ongoing strategy designed to...

Airport driving plan for auto consolidation with rental hub.(Brief Article)
May 4, 2001... Bush Intercontinental Airport will get a different type of hangar next year when a $131.5 million consolidated rental car facility that went under construction last month opens its doors. The 140-acre car rental facility, which is slated...

Bitten by the bear: Lawyer learns lesson in stock market slide.(Brief Article)
May 4, 2001... Mike Young was a stock market animal throughout the second half of the 1990s and well into last year. The Houston lawyer was so gung-ho that he seriously considered launching a hedge fund after riding the U.S. tech-stock rocket explosive...

Hispanic radio station company gets moving with licensing deal.(Brief Article)
May 4, 2001... Local Hispanic radio station company El Dorado Communications Inc. has sold the broadcast license for its 106.5 frequency to Dallas-based Hispanic Broadcasting Corp. for $80 million in cash. As part of the deal, El Dorado will lease the...

Home Depot to play house in Cedar Crossing business park.(Brief Article)
May 4, 2001... The Cedar Crossing Industrial Park will soon be home to new resident The Home Depot Inc., thanks in part to a uniquely crafted tax abatement package granted by Chambers County. Chambers County judge Jimmy Sylvia confirms that Home Depot was...

Online energy trading market expected to explode as players shift.(Brief Article)(Statistical Data Included)
May 4, 2001... Online wholesale energy trading reached $400 billion in 2000 and is likely-to hit $3.6 trillion in 2005, according to a recent study by Forrester Research, an independent firm based in Cambridge, Mass., that analyzes the impact of technology on...

Pressure builds in Congress for a better set of ergonomics rules.(Brief Article)
May 4, 2001... Senate moderates who provided the key votes to kill the Occupational Safely and Health Administration's ergonomics regulation are frustrated by Secretary of Labor Elaine Chao's refusal to commit to a deadline for coming up with a new policy to...

Bush seeks private competition for 400,000 federal jobs.(Brief Article)
May 4, 2001... The Bush administration wants to allow businesses to compete for a variety of services now provided by more than 400,000 federal employees. "We're serious about it," says Mitch Daniels, director of the Office of Management and Budget. ...

Brownfields reform bill sails through Senate.(Brief Article)
May 4, 2001... The Senate approved brownfields reform legislation by a 99-0 vote, pleasing everyone from the real estate industry to the nation's mayors. The bill provides local governments with $150 million a year for the next five years to help clean...

FTC endorses legislation to restrict junk e-mail.(Brief Article)
May 4, 2001... The Federal Trade Commission endorsed legislation to allow consumers to opt out of receiving unsolicited commercial e-mail and impose penalties on businesses that ignore their wishes. Under a bill introduced by Sen. Conrad Burns, R-Mont.,...

Chamber biggest spender among lobbying groups.(Brief Article)(Statistical Data Included)
May 4, 2001... The U.S. Chamber of Commerce spent $9.66 million lobbying the federal government during the first six months of 2000, beating out the American Medical Association for the No. 1 ranking on Political Money Line's list of big-spending lobbying...

Entertainment tech firm sues acquisition target, rival suitor.
May 4, 2001... Houston-based Entertainment Technologies & Programs Inc. filed a lawsuit last week in Harris County District Court against a company it was trying to acquire and a new suitor vying for the same firm. In March, ETPI signed a letter of intent...

Creative Destruction: Why Companies That Are Built to Last Underperform the Market -- and How to Successfully Transform Them.
May 4, 2001... By Richard Foster and Sarah Kaplan "Creative Destruction" debunks the myth that high-octane, built-to-last companies can continue to excel year after year. Turning conventional wisdom on its head, Richard Foster and Sarah Kaplan draw...

Knowledge bank.
May 4, 2001... TechKnowledge helps technology-challenged companies win the battle of the bits and bytes Dave Jacobs realized there was a problem when the Hertz rental car agent in Atlanta was suddenly becoming his best friend. Jacobs knew traveling...

LARGEST HOUSTON-AREA AUTO DEALERS BY FRANCHISE.
May 4, 2001... LARGEST HOUSTON-AREA AUTO DEALERS BY FRANCHISE (Ranked by Total Number of New Vehicles Sold in 2000 [*]) Total New Most Last Name of Dealer Vehicles...

Image makers work their magic on universities.
May 4, 2001... Just as colleges have updated teaching methods and computer labs to keep up with the times, so too are they updating their business techniques. For colleges in Houston, that has meant visibly ramping up marketing efforts as well. Colleges...

PR agent and editor need to agree on how to define 'newsworthy'.
May 4, 2001... A person who wants to publicize news concerning his business is well advised to put himself in the shoes of an editor for a second. What will he do with a news release on a corporate picnic? How about an announcement on a half-price summer...

PR, marketing agencies set sights on updating their own Web sites.
May 4, 2001... With marketing and public relations agencies feeling the effects of the dot-corn downturn, competition is fiercer than ever for established blue-chip companies and sophomore start-ups. Often, the relationships an agency has with the media can...

Get phone ringing with referrals instead of just dialing for dollars.(business professionals )(Brief Article)
May 4, 2001... Many business professionals are still dialing for dollars. Instead of calling out, they should get prospects to call in. The easiest way to bring in new business is by referrals from clients and friends. Referrals are both an efficient and...

Market researchers turn focus on problem of 'ready, fire, aim'.(focus groups)(Brief Article)
May 4, 2001... Marketing research, once thought to be the exclusive tool of the huge Fortune 500 companies, is increasingly part of the arsenal of small and mid-size companies who are using it to introduce new products, evaluate advertising and marketing...

Houston Post-Dispatch building played major role in early media.(Houston Post-Dispatch Building)(Brief Article)
May 4, 2001... When the pictured building began rising from the ground it was destined to become the tallest reinforced concrete structure in Houston. The year was 1925, and the climbing skyscraper was the Houston Post-Dispatch Building. The person...

Zula: Snazzy innovative dishes match spiffy, imaginative decor.(Zula restaurant)(Brief Article)
May 4, 2001... It's always nice when somebody else does your work for you. One always wonders how a restaurant: gets its name. It's a no-brainer when the sign over the door echoes all or part of the owner's moniker, a la Ninfa's, Brennan's or Tony Ruppe's....

Energized recruiters.(Brief Article)
May 4, 2001... Larry and Lauren Prescott have carved a high-powered niche finding legal talent for corporate clients and law firms Boom times in the energy sector have always been prosperous periods for Lauren and Larry Scott. And right now,...

PEOPLE ON THE MOVE.
May 4, 2001... ACCOUNTING Mann Frankfort Stein & Lipp Advisors Inc. has promoted R. Martin Houk to manager, tax department; has named Lemy Siovon Ha as manger, tax department; and has added Bill E. Pearce as a manager, litigation consulting business...

Much ado about research survey.(Reason Public Policy Institute )(Government Activity)(Brief Article)
May 4, 2001... A report released last month by a West Coast think tank is drawing considerable flak in the upper echelons of City Hall. The Los Angeles-based Reason Public Policy Institute issued a national study examining 44 of America's largest cities...

Give state quarters more bang for the buck.(Brief Article)
May 4, 2001... The feds started issuing commemorative quarters for each U.S. state last year, and the early results are pretty underwhelming. The tail sides of most are adorned with traditional tableaus of historic significance. Some of the more...

Adapt, adjust and innovate for economic growth.(Brief Article)
May 4, 2001... We've all heard a version of the truism, "There is nothing so permanent as change." With respect to the state of the American economy, the validity of this statement is certainly evident. American businesses and industries that embrace...

LETTERS TO THE EDITOR.(Corrections regarding Pax and NBC affiliate)(Brief Article)(Correction Notice)(Statistical Data Included)
May 4, 2001... PAX facts I would like to address what appear to be some inaccuracies in the April 20 Media & Marketing Beat column ("Local TV stations prepare for changes as parents strike deal") on the arrangement between the NBC affiliate and PAX. ...

Sachnowitz & Co.(Names new members of its management team)(Brief Article)
May 4, 2001... Houston advertising firm Sachnowitz & Co. has named the new members of its management team. Brad Deutser now serves as senior managing director; Susan Ellis serves as senior creative director; and Irv Kauffman remains senior vice president. ...

DMJM Rottet.(Opens Houston office)(Brief Article)
May 4, 2001... DMJM Rottet -- the interiors division of Los Angeles-based architecture firm Daniel, Mann, Johnson & Mendenhall -- has opened a new office in downtown Houston's trendy Niels Esperson Building. The firm's new office, located off the main...

Royce Family of Builders.(New corporate complex in Houston)(Brief Article)
May 4, 2001... * The Royce Family of Builders has broken ground on its new corporate office complex located on the North Sam Houston Tollway between Gessner and Highway 249. The new 45,000-square-foot headquarters, which should be completed by this fall,...

NO LABOR LET-UP.(Labor lobbies for OSHA regs)(Brief Article)
May 4, 2001... The hearing demonstrated that ergonomics remains a divisive issue. Union members wearing "Stop the Pain" T-shirts outnumbered business lobbyists in the packed hearing room. Specter cut off Chao in the middle of her opening statement, saying...

COOPERATION OVER CONTROL.(Chao promised comprehensive approach to OSHA regulation, before Congress acted)(Brief Article)
May 4, 2001... Before the Senate voted to repeal the ergonomics regulation, Chao promised to take a "comprehensive approach" to the issue. Nearly two months later, Chao will not say whether that approach will take the form of a new regulation. "I'm not...

CheMatch.com.(Gets funds from venture capitalists)(Brief Article)
May 4, 2001... Houston-based CheMatch.com closed a round of funding last week that executives say will carry the company through to profitability. Boston-based Battery Ventures and Sprout Group in New York -- both previous investors -- gave CheMatch an...

MEDIA RESOURCE.(Public relations firms want media coverage of their clients)(Brief Article)
May 4, 2001... In a PR professional's ideal world, reporters would call daily, eager to find out the latest news on their clients or to request interviews or expert testimonials. Although this may sound like a pipe-dream, a great Web site could help a PR firm...

BUSINESS TOOL.(Brief Article)
May 4, 2001... One of the best characteristics of a Web site is the sense of immediacy. Clients waiting for an example of a direct mail piece can simply log on and view portfolio examples. Case studies are at their fingertips. Company history and executive...

Carmean District Agency.(Awarded by Northwestern Mutual Financial Services)(Brief Article)
May 4, 2001... The Carmean District Agency of Spring has been awarded the District Agency Growth Award from the Northwestern Mutual Financial Network. The award is presented to district agencies that meet demanding standards in recruiting and production.

Texas Petrochemicals LP.(Gets award for pollution prevention)(Brief Article)
May 4, 2001... Texas Petrochemicals LP, a Houston-based petrochemical company specializing in C4 hydrocarbons, has received the Texas Chemical Council's Caring for Texas award of recognition for its results in pollution prevention, emergency response and...

Houston Endowment Inc.(Received award for excellence in communiucations)(Brief Article)
May 4, 2001... Houston Endowment Inc. has received the Wilmer Shields Rich Award for Excellence in Communications from the Council on Foundations for its annual report, Web site and special newspaper section celebrating the 2000 Jesse H. Jones and Mary Gibbs...

Vinson & Elkins.(Brief Article)
May 4, 2001... Vinson & Elkins has received the 2001 W. Frank Newton Award from the State Bar of Texas. The award is given to a group of attorneys for performing outstanding probono legal work.

The Brown Foundation Inc.(Goodwill Industries of Houston )(Brief Article)
May 4, 2001... The Brown Foundation Inc. has awarded a $249,000 grant to Goodwill Industries of Houston for the development of three satellite career crest Drive, goal is to bring employment education and training services closer to the constituency in need...

Grijalva & Allen.(Brief Article)
May 4, 2001... The Houston firm of Grijalva & Allen has been selected as the consulting firm that will assist small contractors participating in the Bonding and Technical Assistance Program of The University of Texas System. The firm will help small...

Safety Vision.(Brief Article)
May 4, 2001... Safety Vision has announced that it has expanded its warehouse space to include another 12,000 square feet adjacent to its main distribution center. The company manufactures and distributes rear vision and on board surveillance systems.

Plant Automation Services Inc.(Brief Article)
May 4, 2001... Plant Automation Services Inc. of Houston has announced receipt of an automation contract from Contech Control Services Inc. for the complete-automation and control systems modernization of a propylene oxide plant owned by Lyondell Chemical Co....

AMERICAN GENERAL CORP.(Brief Article)(Statistical Data Included)
May 4, 2001... AMERICAN GENERAL CORP. 2001 2000 1st Qtr. ended March 31 revenue in 1,000s 5,829,000 5,565,000 net income (loss) in 1,000s 323,000 285,000 per share ...

BAKER HUGHES INC.(Brief Article)(Statistical Data Included)
May 4, 2001... BAKER HUGHES INC. 2001 2000 1st Qtr. ended March 31 revenue in 1,000s 1,228,500 1,240,800 net income (loss) in 1,000s 71,100 15,400 per share ...

BMC SOFTWARE INC.(Brief Article)(Statistical Data Included)
May 4, 2001... BMC SOFTWARE INC. 2001 2000 Fiscal 4th Qtr. ended March 31 revenue in 1,000s 422,800 476,400 net income (loss) in 1,000s 23,000 98,000 per share ...

COMPAQ COMPUTER CORP.(Brief Article)(Statistical Data Included)
May 4, 2001... COMPAQ COMPUTER CORP. 2001 2000 1st Qtr. ended March 31 revenue in 1,000s 9,197,000 9,505,000 net income (loss) in 1,000s 78,000 296,000 per share ...

CONSOLIDATED GRAPHICS INC.(Brief Article)(Statistical Data Included)
May 4, 2001... CONSOLIDATED GRAPHICS INC. 2001 2000 4th Qtr. ended March 31 revenue in 1,000s 166,196 167,772 net income (loss) in 1,000s 665 8,168 per share ...

HOWELL CORP.(Brief Article)(Statistical Data Included)
May 4, 2001... HOWELL CORP. 2001 2000 1st Qtr. ended March 31 revenue in 1,000s 22,971 18,276 net income (loss) in 1,000s 6,597 4,540 per share .77...

NATIONAL-OILWELL INC.(Brief Article)(Statistical Data Included)
May 4, 2001... NATIONAL-OILWELL INC. 2001 2000 1st Qtr. ended March 31 revenue in 1,000s 360,272 263,891 net income (loss) in 1,000s 21,478 4,484 per share ...

NL INDUSTRIES INC.(Brief Article)(Statistical Data Included)
May 4, 2001... NL INDUSTRIES INC. 2001 2000 1st Qtr. ended March 31 revenue in 1,000s 227,300 232,700 net income (loss) in 1,000s 34,600 23,700 per share ...

New rules, more bankruptcies.(bankruptcy lawyers in Houston area are swamped with work)
May 11, 2001... Local lawyers scramble to keep up with rising number of cases A change in bankruptcy rules and hard economic times have Houston bankruptcy attorneys working overtime to stay on top of their increased caseloads. Local law firms report...

Land rush lures Florida builder to Houston.(Whitemark Homes Inc. buying huge tract of land near Houston, Texas)(Brief Article)
May 11, 2001... A growing Florida company is the latest residential developer to join the rapidly expanding land rush in west Houston. Whitemark Homes Inc. is under contract to acquire a 1,553-acre tract of undeveloped land near Houston's Energy Corridor...

Sorry, wrong number.(conference call among Williams Companies directors about buying Barrett Resources Corp.)(Brief Article)
May 11, 2001... Add this item to the list of notable teleconferencing snafus. A telecom vendor mistakenly connected "outside individuals" to a conference call among directors of Tulsa-based Williams Cos. last month as the board discussed a possible bid to...