Houston Business Journal articles from November 1996

Houston Business Journal archives from November 1996

Compaq taking IRS to court in tax dispute. $88 million debate centers on operations in Singapore.
November 29, 1996... An $88.3 million dispute between Compaq Computer Corp. and the Internal Revenue Service has the local computer manufacturer taking the taxman to court. Compaq filed suit Nov. 12 in U.S. Tax Court in Washington, D.C., seeking to overturn an...

Buckyballs bounce into business. (Bucky USA, manufacturer of pure molecular carbon)
November 29, 1996... Bucky USA of Houston may sound like the name of a dude ranch, but its business plan does not include saddling up city slickers. The "Bucky" in Bucky USA is closer to Buck Rogers than a buckaroo. The small, privately held company is a major...

Developers plan affordable homes with nostalgic frills. (KFarrell Co. and 1940s- and 1950s-style architecture)
November 29, 1996... A new company formed specifically to construct affordable homes with traditional-style architecture is about to begin work on a 210-home neighborhood in southwest Houston. The KFarrell Co. was formed by real estate investment partners and...

Southwest Bancorporation files plan to go public. (Southwest Bank of Texas N.A.; Southwest Bancorporation of Texas Inc.)
November 29, 1996... Walter Johnson has taken his Southwest Bank of Texas to nearly $1 billion in assets. Now he plans to take it public. Southwest Bancorporation of Texas Inc., the bank's parent company, filed with the U.S. Securities and Exchange Commission...

Ninfa's accuses Sysco of overcharging for food and supplies. (RioStar Corp. vs. Sysco Corp.)
November 29, 1996... RioStar Corp. last week filed another volley in its David vs. Goliath battle with Houston's Sysco Corp. RioStar, the parent company of the 40-restaurant Ninfa's chain, filed a counterclaim Nov. 21 accusing Sysco subsidiaries of overcharging...

Houston heritage: historic fountains were urban oases in early city of Houston.
November 29, 1996... In 1929, the City Planning Commission submitted the results of a two-year study designed to curb the urban sprawl which Houston was beginning to experience. The city was growing at an unprecedented rate and, so it seemed to planning advocates,...

Young entrepreneur plays her cards right in unfolding market. (trade magazine publisher Laurette M. Veres invests in phone cards)(Business Communications & Equipment)
November 29, 1996... During lunch three years ago, a business associate laid a small card on the table and asked Laurette Vercs if she knew what it was. "I told him that I had no idea," she says. "He explained that it was a prepaid phone card, and that it was the...

Disney designer: Paddy Gordon has had a Cinderella career marketing Mickey Mouse as a leather art form.
November 29, 1996... Paddy Gordon has always been a big fan of Mickey Mouse. And it's a good thing, considering how much time she spends with Walt Disney's premier creation. The entrepreneurial Houston artist has designed boxes and books, desk accessories and...

Gallup picks Houston for new center. (Gallup Organization Inc.)
November 22, 1996... National polling company comes calling with 200 jobs The Gallup Organization Inc. has come calling on Houston with plans to open a 200-person interviewing center in Bellaire. Lincoln. Neb.-based Gallup, the country's oldest polling firm,...

Long time liquor distributor quietly sells family business. (Neil Strauss; Tarrant Distributors Inc.)
November 22, 1996... A Houston liquor distribution company owned b high-profile businessman Neil Strauss has been quietly sold to a pair of New Orleans and San Antonio families for an estimated $70 million. The sale of the locally-based Tarrant Distributors Inc....

Brunswick comes and goes: outdoor giant buys Igloo ... (Brunswick Corp.; Igloo Holdings Inc.)
November 22, 1996... Houston-based Igloo Holdings Inc., the world's leading maker of ice chests, is being bought by Brunswick Corp. for a cool $154 million in cash. In January, Brunswick will purchase all of the privately held Igloo outstanding stock - the...

Vastar rejects merger strategy, seeks 'alliance' with gas partner. (Vastar Resources Inc.)
November 22, 1996... Wholesale marketer eyes growth in retail and electricity Bucking the tendency of energy marketing companies to grow by merging with others, Vastar Resources Inc. says it has no intention of putting its marketing company on the block. At a...

Microsoft taps Houston company to develop medical software. (Microsoft Corp.; Physix Inc.)
November 22, 1996... Physix product part first hand-held computer made by Compaq Houston-based Physix Inc. is the only company chosen by Microsoft Corp. to develop medical software for its new hand-held computer operating system. Microsoft's new platform,...

A rare breed in the boardroom. (PanEnergy Corp. CEO Paul Anderson)
November 22, 1996... PanEnergy CEO Paul Anderson rides a Harley, plays rock music and calls the shots at one of the nation's top natural gas services companies. When Paul Anderson attends a meeting at PanEnergy Corp., he avoids sitting at the head of the table....

Zadok Jewelers.(Growth Strategies)(Company Profile)
November 22, 1996... International twist helps Zadoks thrive through ups and downs Visiting the United States turned out to be a gem of a decision for the Zadoks. Unlike many who come from other parts of the world with dreams of a new life in America, Helene...

CDI starting new chapter in engineering, high-tech. (CDI Corp.)
November 22, 1996... A newly formed division of Philadelphia-based CDI Corp. is positioning itself to alter the scene for engineering services in Houston. "The work toad in engineering is full of peaks and valleys," says William G. Clark, vice president and...

Swift Energy Co. (Proxy Excerpt reports)(Company Profile)
November 22, 1996... NASDAQ AIFC 16825 NORTHCHASE DRIVE, SUITE 400, HOUSTON 77060 (713) 874-2700 Swift Energy Co. is an oil and natural gas company engaged in the exploration, development, acquisition and operation of oil and gas properties. Total shares...

Hospitals team up to fight takeovers: nonprofit group forms new company to block acquisitions by bigger rivals. (VHA Southwest Community Health Corp.)
November 15, 1996... A group of nonprofit hospitals in Texas has created a company that will acquire, lease or manage nonprofit hospitals to prevent them from being taken over by for-profit competitors. Dan Wilford, president and chief executive officer of the...

It's Miller time again: a familiar real estate name returns after split with joint venture partner. (Henry S. Miller Commercial Realty Group)
November 15, 1996... The Henry S. Miller Commercial brokerage is back, using its old name and planning to rebuild its once-powerful presence on the Houston real estate scene. Also reverting to its former status will be Marnitz, Farris & Co., a Houston-based firm...

HL&P opts for early replacement of STP generators: nuclear plant repair job could cost $230 million. (Houston Lighting & Power Co.; South Texas Project)
November 15, 1996... Houston Lighting & Power Co. has decided to replace the steam generators at Unit 1 of its South Texas Project nuclear power plant six years ahead of schedule. The big repair job, estimated by industry sources to cost about $230 million, will...

Shutdown of MCI call center won't affect tax abatement, officials say: 600 will lose jobs as company converts to network services center.
November 15, 1996... MCI's decision to shut down its call center in Sugar Land is not expected to affect the company's two-year-old tax abatement agreement, according to officials involved in the deal. When MCI announced in 1994 that the company would open a...

Two architectural firms combine strengths in design, management: boutique merges with bigger ship to become more competitive. (Wm. T. Cannady & Associates Inc.-Willis Bricker Inc. merger to form Willis Bricker & Cannady)
November 15, 1996... One of Houston's oldest boutique architectural firms has merged with a larger one that is attempting to round out its service offerings. The 24-year-old Wm. T. Cannady & Associates Inc. has been absorbed by 10-year-old Willis Bricker Inc....

New Allright Parking owners map aggressive growth plans. (Allright Parking Corp.)
November 15, 1996... Monday's purchase of Houston-based Allright Parking Corp. by a group of investors will give the company additional capital for expansion, according to Allright officials. Other than an aggressive growth plan, the new owners of the nation's...

Lead paint detection firm sees windfall in new law. (Lead Based Paint Detection Corp.; Lead Poison Prevention Act of 1992)
November 15, 1996... The Lead Based Paint Detection Corp. (LBP) has been established to take advantage of new federal regulations that could bring a lot of customers through its doors. As of Dec. 6, all real estate agents will be required to inform potential...

The son also Rices. (Rice Food Markets Pres. Gary Friedlander)
November 15, 1996... Gary Friedlander, president of Rice Food Markets, faces stiff competition at the checkout line as he leads the family grocery business into the third generation. Gary Friedlander, grandson of Rice Food Markets founder William H. Levy and son...

Owen Healthcare Inc. (proxy report excerpts)(Company Profile)
November 15, 1996... OWEN HEALTHCARE INC. NASDAQ OWEN 9800 CENTRE PARKWAY, SUITE 1100, HOUSTON 77036 (713) 777-8173 Owen Healthcare Inc. is the nation's leading provider of fully integrated contract hospital pharmacy management services. Total shares of...

Luxury used car dealers runs afoul of lender. (Winston Motorcars Inc.)
November 8, 1996... A local entrepreneur who made a big splash selling secondhand luxury cars has taken his dealership into bankruptcy after being sued by a prime lender. Winston Domingue's upscale auto dealership, Winston Motorcars Inc., filed for Chapter 11...

Roger Penske moving Sugar Land's Detroit Diesel plant to Utah. (MTU Detroit Diesel Remanufacturing South Inc.)
November 8, 1996... Indy car racing legend Roger Penske is moving his Sugar Land diesel engine remanufacturing plant to a Utah town that offered the company a deal too sweet to ignore. Penske's company, Detroit Diesel Corp., is relocating its MTU Detroit Diesel...

Woodlands financier creates new mortgage servicing rights firm.
November 8, 1996... Seeking to cash in on recent accounting rules changes, The Woodlands' IFS Financial Corp. has formed a new subsidiary to enter the mortgage servicing rights business. The creation of Structured Servicing Transactions Group is part of an...

InterFit Inc.(Company Profile)
November 8, 1996... Saving lives and dollars with health screening Two years ago, the future of the nation's health care system was hanging in the balance - and so was the financial future of local businesswomen Laurie Lee and Cathey M. Gordon. At issue was...

Western National Corp. (Proxy Report Excerpts)(Company Profile)
November 8, 1996... WESTERN NATIONAL CORP. NYSE WNH 5555 SAN FELIPE, SUITE 900, HOUSTON 77056 (713) 888-7800 Western National Corp. is the parent of Western National Life Insurance Co., one of the largest life insurance companies in the United States. ...

Railroad puts historic building on sales block. (Southern Pacific Transportation Co.)
November 1, 1996... Move follows merger, 200 employees still in limbo The fate of 200 local Southern Pacific Railroad employees is still uncertain as the newly merged company makes plans to close its 85-year-old Houston regional office next year and put the...

Phone company gets wired into downtown center. (American Telco Inc. signs revenue sharing agreement with Wedge Commercial Properties Corp.)
November 1, 1996... Wedge and American Telco sign first deal to share revenues following deregulation A newly signed agreement between Houston-based American Telco Inc. and a downtown Houston office building owner is the opening move in a competitive game that...

Expanding Administaff dusts off its plan for initial public offering.
November 1, 1996... Long-delayed plans by Administaff Inc. to conduct an initial public offering gained a boost last week when the company updated regulatory filings submitted more than a year ago. Administaff first filed with the Securities and Exchange...

Rapid expansion caused Ninfa's debt woes, says restaurant official. (Ninfa's Mexican restaurants, Houston, TX)
November 1, 1996... It was aggressive expansion of Ninfa's Mexican restaurants into new markets that put RioStar Corp. in debt, causing the current bankruptcy battle and a legal chess game with its main supplier, Houston-based Sysco Corp. That's the assessment...

Houston firm lands contract to clean soil at New Jersey utility sites. (American Eco Corp.)
November 1, 1996... American Eco Corp., a fast-growing environmental services company, signed a soil remediation contract last week that should increase its revenues by $40 million over the next five years. The contract gives Houston-based American Eco...

Main event manager. (Harold Hook, chief executive officer of American General Corp.)
November 1, 1996... Harold Hook has used Model-Netics to mold the corporate culture at American General for 21 years. Now he's finding other markets for his management philosophy. In late 1958, Harold Hook had just conducted a weekly class for managers of a...

TMC Orthopedic Supplies.(Company Profile)
November 1, 1996... Company started in legal trouble, now roars to triple-digit growth As the owner of TMC Orthopedic Supplies Inc., 34-year-old Joe Sansone has built one of the fastest-growing businesses in Houston. The medical equipment supplier posted...

Pool Energy Services Co. (Proxy Report Excerpts)(Company Profile)
November 1, 1996... NASDAQ/NMS PESC 10375 RICHMOND AVE., HOUSTON 77042 (713) 954-3000 Pool Energy Services Co. is the largest well-servicing and workover company in the world. Its principal business is the maintenance and repair of existing oil and natural...