Houston Business Journal articles from September 1999

Houston Business Journal archives from September 1999

Chase moves $7 billion in fund business to Houston.(Chase Manhattan Bank transfers $7 billion in funds management to Chase Bank of Texas)
September 3, 1999... Chase Manhattan Bank has shifted $7 billion in funds management to its Houston operation, Chase Bank of Texas. In the process, an entire New York mutual fund department has been shut down. The New York-based banking giant's move has raised...

Clinical concierge.(hospitals cater to diverse foreign cultures by offering concierge services)
September 3, 1999... Hospitals become more hospitable by catering to diverse foreign cultures On any given day, Maria Rocha might arrange transportation for a family from Kuwait, handle hotel reservations for a South American couple or even coordinate the...

U.S. Liquids faces fallout from raid on Detroit plant.
September 3, 1999... The U.S. Attorney's office in Detroit says no charges are pending or expected soon against Houston-based U.S. Liquids, which has been accused of dumping untreated hazardous waste into Detroit sewers and landfills. And an official with the...

Local buyer lifts Watermarc out of Chapter 11.(Watermarc Food Management Co. lifted out of bankruptcy by Five Points Investments Inc.)
September 3, 1999... Watermarc Food Management Co., Ghulam Bombaywala's restaurant empire, has emerged from bankruptcy as part of a deal to sell its entire holdings to a long-time friend of Bombaywala. The publicly-traded Watermarc, the holding company for...

Taking technology to school.(ClearWorks.net Inc. is in the business of cyberwiring homes and business establishments)
September 3, 1999... Known for cyberwiring high tech developments, ClearWorks.net has learned lessons in growth In the LaMarque school district, ClearWorks.net Inc. may soon be a parent's best friend. The local technology company, founded in 1997 to wire...

Convention hotel has room for risk; bond experts question city proposal to build its own downtown project.(Houston, TX)
September 10, 1999... Mayor Lee Brown and other municipal officials insist the city can build a $170 million, 1000-room downtown hotel near the George R. Brown Convention Center without raising taxes or putting the city's bond rating in peril. But bond industry...

Cookie maker litigates over Gulfgate redo; retailer says revival plan took a bite out of business.(Fresh Cookie's lawsuit against Gulfgate Mall's developers)
September 10, 1999... Retailer says revival plan took a bite out of business A local cookie maker says his small business crumbled because of Gulfgate Mall's redevelopment plans and is suing his former landlord to recoup some dough. In a suit that showcases...

Mission achieved: software IPO soars.(Mission Critical Software Inc.; initial public offering)
September 10, 1999... At a time when some technology companies have delayed or canceled initial public offerings because of choppy market conditions, the IPO of Mission Critical Software Inc. has taken off. Originally priced at $16 a share, stock in the...

Houston company hits legal snag in Pennsylvania prison project; no private prisons, state attorney general tells Cornell.(Cornell Corrections Inc.)
September 10, 1999... No private prisons, state attorney general tells Cornell A 1,000-bed prison being built by Houston-based Cornell Corrections Inc. in Pennsylvania has run into another roadblock. With construction already held up for environmental...

Northern exposure: investment team defects to Canadian bank.(Jefferies & Co.'s investment bankers and equity analysts; Royal Bank of Canada)
September 10, 1999... A team of investment bankers and equity analysts has defected from the Houston office of Jefferies & Co. this week to join a new local investment banking office of Royal Bank of Canada. Members of the group held top positions in the...

Foaming beer market has Silver Eagle expanding downtown facility.(Silver Eagle Distributors)
September 10, 1999... John L. Nau III is lifting his stein to a beer market. Nau, president and CEO of Houston-based Silver Eagle Distributors, says Budweiser- and Bud Light- guzzling consumers have his business hopping. And to accommodate the growth,...

Stellar deal: local event planner acquires Dallas multimedia firm.(Stellar Event & Presentation Resources; Alford Media Services)
September 10, 1999... Houston-based Stellar Event & Presentation Resources, formed early this year by the consolidation of five event planning companies, has acquired Alford Media Services, a national corporate event staging company. Terms of the deal were not...

Upward mobility.(Profile)(Metropolitan Transit Authority CEO Shirley DeLibero)
September 10, 1999... Shirley DeLibero has been her own biggest fan in rising through the ranks to become CEO of Metro Shirley DeLibero is unabashedly frank as she talks about her decision to take the job of CEO al the Metropolitan Transit Authority. "Damn,...

Nuevo Energy Co.(Proxy Report Excerpts)(Company Profile)
September 10, 1999... NYSE NEV 1331 Lamar, Suite 1650, Houston 77010-3039 (713) 652-0706 www.nuevoenergy.com Nuevo Energy Co. is the largest independent producer of oil and gas in California. Total shares of common stock outstanding as of April 5, 1999...

Lights, camera, proaction: Rio Bravo Pictures has landed a starring role on the competitive film production business.(Growth Strategies)
September 10, 1999... Rio Bravo Pictures has landed a starring role on the competitive film production business. Rodrigo Rodriguez and Lynn Birdwell started their production company six years ago, but it wasn't until they tweaked its name that the company began...

High-rise hopes on Sixth Ward tract; developer Hanover eyes 'Sabine Island' for residential project.(Old Sixth Ward in Houston, TX)
September 17, 1999... Developer Hanover eyes 'Sabine Island' for residential project Houston's Hanover Co. is on its way to blazing a major residential trail into the long languishing Old Sixth Ward. The firm has closed on a hotly speculated tract of land...

Dallas-based ISP snaps up PDQ.net; deal worth $32 million a sign of consolidation.(Internet service provider Internet America Inc.)
September 17, 1999... Houston's largest Internet service provider was purchased this week by Dallas-based Internet America Inc. in a stock deal valued at $32 million. Internet America will issue 2.4 million shares of common stock in exchange for all the...

Mischer group moves on westside subdivision.(Mischer family's Wheatstone Investment group)
September 17, 1999... The Mischer family's Wheatstone Investment group is gearing up to develop a 500-acre subdivision on part of the old Josey Ranch after sitting on the purchase for three-and-a-half years. The group headed by Walter Mischer closed on 1,805...

Home is where the Dome is; Astros exit scores sentiment with longtime workers.(Houston Astrodome; Houston Astros)
September 17, 1999... On the first day the Astrodome opened to the public in 1965, Tom Driscoll was assigned to operate the West Gate elevator dressed in a space suit. That was the day he met astronaut Gus Grissom. Driscoll is one of only 21 people who have...

Bank advertising: focus of bank ads shifting from product to relationship.(Focus: Advertising & Marketing)(Directory)
September 17, 1999... Manuel "Manny" Mehos, chairman and CEO of Coastal Bancorp Inc., tells it like it is. In radio advertising spots which Mehos writes and records himself, the bank executive Comes flat out and admits that all banking products are the same and...

AutoNation makes upscale turn, picks up Park Place dealerships.(acquisition of Park Place Motorcars)
September 17, 1999... In a swanky swerve to buying local autodealers, Florida-based consolidator AutoNation Inc. has signed a letter of intent to purchase two Texas Mercedes-Benz dealerships, including Park Place Motorcars in Houston. A spokesman at AutoNation...

Sienna Plantation's master planner.(Profile)(Doug Goff, general manager of the master planned community in Houston, TX)
September 17, 1999... Despite Doug Goff's long-term plan, home sales in his 10,500-acre Fort Bend community have surpassed expectations In a metropolitan area where relatively few signs exist of any stringent city planning, Doug Goff stands out as a man with a...

Alternative medicine: for CompleteRx, controlled growth in a unique niche has been the right prescription.(Growth Strategies)
September 17, 1999... After 17 years in the hospital pharmacy management business, Terry Andrus, Boscoe Godfrey and a few others discovered a niche market to provide their expertise to rural and suburban hospitals. The result has been CompleteRx, which has been up...

Swift Energy Co.(Proxy Report Excerpts)(Company Profile)
September 17, 1999... NYSE, Pacific SFY 16825 Northchase Drive, Suite 400, Houston 77060 (281) 874-2700 Swift Energy Co. is an independent oil and natural gas company engaged in the exploration, exploitation, acquisition, and operation of oil and gas...

Texas ranks third in survey of U.S. employment growth.(Brief Article)(Illustration)(Statistical Data Included)
September 17, 1999... Raw Change in Total Nonfarm Employment (1996-1998) Rank State Change (+) from 1996 to 1998 1996 1998 1 California 840,700 12,743,400 13,584,100 2 Texas ...

Bidders bat for Astrodomain contract.(lucrative contract to manage the Houston Astrodome and its surrounding facilities)(Brief Article)(Statistical Data Included)
September 24, 1999... Lineup in race for lucrative deal includes local players, industry power hitters Four groups submitted proposals last week for a chance to manage the Astrodome and its surrounding facilities. The bidders for the lucrative Astrodomain...

New CEO gets big stock loan from Compaq.(Michael Capellas of Compaq Computer Corp.)(Brief Article)(Statistical Data Included)
September 24, 1999... Michael Capellas can say thanks a million. Five times. As part of his recent promotion. Compaq Computer Corp, loaned the new president and CEO '$5 million to buy company stock. And that's just the half of it. His equity package...

Everything's coming up Quizno's.(upscale sandwich chain)(Brief Article)(Statistical Data Included)
September 24, 1999... Brooksy Smith has grown used to getting a lot of gawks and stares when driving around town in his company car. Smith is earnestly attempting to be a sandwich selling standout as he frequently cruises the streets in his gaudy red and green...

Judge dismisses lawsuits against Zapata.(Zapata Corp. wins dismissal of 21 class-action shareholder lawsuits)(Brief Article)
September 24, 1999... Zapata Corp., a former Houston public company, has won dismissal of 21 class-action shareholder lawsuits. The suits alleged that Zapata's CEO and two former officers inflated the company's stock price in an attempt to profit from illegal...

Discovering value.(Hill Valuation Corp.)(Company Profile)(Brief Article)
September 24, 1999... For more than two decades, Mike Hill has been telling his clients what their companies are worth When James M. "Mike" Hill started his career as a chemical engineer in the 1960s, he saw 35-year-old men doing the same thing he was doing...

Oil authority debunks 'mystery' glut, sees global shortages in near future.(energy analyst Matthew Simmons, president of Simmons & Co. International)(Industry Overview)(Brief Article)(Statistical Data Included)
September 24, 1999... Matthew Simmons worries that there might be oil shortages early next spring if world supply is not increased soon. Simmons, a leading forecaster of global energy trends, argues against the conventional wisdom that OPEC countries have as...

First City follies: familiar local name faces financial woes again.(First City Financial Corp.)(Brief Article)(Statistical Data Included)
September 24, 1999... The remainder of Houston's First City Bancorporation, which went bankrupt in 1992, is once again flirting with financial collapse. Three top executives and board members have resigned from FirstCity Financial Corp. of Waco, the surviving...

Beanie-maker Ty launchers crusade against Woodlands Holybears.(Ty Corp.'s Beanie Babies trademark infringement case)(Brief Article)(Statistical Data Included)
September 24, 1999... A holy war has broken out between toy giant Ty Inc. of Oak Brook, Ill., the maker of Beanie Babies, and Houston's HolyBears, a company founded earlier this year by Houston customs broker Robert LeClair. Ty has filed a trademark...

Calloway's closes on Cornelius Nurseries purchase.(Calloway's Nursery Inc.)
September 24, 1999... After pruning away previous obstacles to a proposed merger, Fort Worth-based Calloway's Nursery Inc. has finalized a deal to purchase Houston-based Cornelius Nurseries Inc. The union will combine two of the largest retail garden center...

Confusion and concern cloud debate over Internet sales tax.(includes related article on the Advisory Commission on Electronic Commerce)(Brief Article)(Statistical Data Included)
September 24, 1999... E-commerce tax opponents contend it would be virtually impossible for Internet retailers to track sales tax rates and exemptions for 45 states and more than 7,000 localities. No problem, says Taxware International CEO Daniel Sullivan: His...

Express success: the Schiller Del Grande Group has spent a long time fine tuning "fast casual" dining.(includes profile of owners of Schiller-Del Grande Restaurant Group)(Company Profile)(Statistical Data Included)
September 24, 1999... The owners of Schiller Del Grande Restaurant Group are getting good at spotting spies in their restaurants. "You can tell if customers are restaurant people or investment bankers as soon as they come in," says Lonnie Schiller, co-owner of...

High price could eliminate all players in NFL franchise game.
September 24, 1999... Would-be NFL team owner Robert McNair believes there's a distinct possibility the league won't expand to 32 teams as speculation grows that professional football team owners want the bidding for the new franchise to begin at $600 million. ...