Pittsburgh Business Times articles from June 1998

Pittsburgh Business Times archives from June 1998

AHERF to mull sale of all Philly hospitals. (Allegheny Health, Education and Research Foundation's Philadelphia area hospitals)
June 26, 1998... NORTH SIDE - Top executives at Allegheny General Hospital's parent company, faced with huge financial problems in eastern Pennsylvania, will examine whether the statewide system should sell all nine of its Philadelphia area hospitals. The...

Action ending: Action Industries, one of the region's leading companies, is now just a shell of its former self. What happened and why?
June 26, 1998... CHESWICK - On March 20, without fanfare, Action Industries Inc. quietly purchased a majority interest in General Vision Services Inc., a 21-unit chain of eyewear stores. It wasn't a routine acquisition. Action hadn't been an operating...

AT&T adds fiber optic capacity in TCI merger. (Tele-Communications Inc.)
June 26, 1998... TCI's network meshes with AT&T's technology A glass strand is the hidden treasure that AT&T Corp. will uncover if federal regulators give the nod to its proposed merger with Tele-Communications Inc. For consumers nationwide, the merger may...

"I want to build those stadiums." (James Mitnick, senior VP of Turner Construction in Pittsburgh, PA)
June 26, 1998... For James Mitnick and Turner Construction, visibility has paid off in a big way When James Mitnick came to Pittsburgh in December 1987, he knew he needed to make the right connections to build Turner Construction Co.'s local business. He...

PNC sends its executives to customized classroom. (PNC Bank Corp.)
June 26, 1998... CMU program educates newly autonomous execs DOWNTOWN - PNC Bank Corp.'s move to decentralize its management structure is a big job. So it has commissioned special training to help its managers cope with the new approach. With the help of...

Mellon Bank Corp. (proxy report excerpts)(Company Profile)
June 26, 1998... (NYSE: MEL) Mellon Bank Corp. is a financial services company based Downtown. Its subsidiary, Mellon Bank, N.A., is the second largest banking concern based in Pittsburgh. Information for Proxy Corner was taken from the company's proxy...

Transarc negotiating for Westinghouse space. (Pittsburgh, PA-based Transarc Corp. to rent space in Westinghouse Electric Co. building)
June 19, 1998... Locally based IBM division could take eight floors DOWNTOWN - Westinghouse Electric Co. said it is close to signing a local company as the largest tenant in its headquarters building. Spokesman Reynolds Clark, president of the Westinghouse...

Lycos patent could bring payoff to Carnegie Mellon. (Carnegie Mellon University's Technology Transfer Office's patent for Web search technology bought by Lycos Inc.)
June 19, 1998... Rights are likely to boost Boston company's value OAKLAND - When Michael "Fuzzy" Mauldin wandered into Carnegie Mellon University's Technology Transfer OfFice with his technology to search the Internet, Mark Coticchia moved to patent it...

Glimcher Development strikes deal with Eckerd drugstore chain. (Glimcher Development Services Inc. to build new store for Eckerd in Aliquippa, PA)
June 19, 1998... Aliquippa store could be first of eight to 10 it will build ALIQUIPPA - The City of Aliquippa is about to receive a $2.5 million shot in the arm from a national drugstore chain. Eckerd Corp., a wholly owned subsidiary of J.C. Penney Co....

Sewickley Country Inn owner files for bankruptcy here and in Dallas.
June 19, 1998... Kenneth Bell says the filings will not affect local hotel SEWICKLEY - The proprietor of the Sewickley Country Inn, Kenneth Bell, has filed for bankruptcy in two states. He and his lawyer, David Rudov of the Downtown firm Rudov & Stein,...

APEX to use SilverStone acquisition as stepping stone to new markets. (APEX Software Inc.; SilverStone Software Corp.)
June 19, 1998... Closely held APEX mulls new markets, expanded offerings GREEN TREE - Six months after posting the for-sale sign, SilverStone Software Corp. has a buyer. The software firm has sold its assets to APEX Software Inc. of Oakland for an...

Building a better chip: inspired by the late H.J. Heinz, Nick DiCio has built a tortilla chip company.
June 19, 1998... Keep life simple." That's Nick DiCio's creed. And that's how he runs his Mexican food business, Reyna Foods Inc. He is frugal, too, driving an old van and repairing his plant's machinery himself. His approach has worked. Mr. DiCio's small...

Visiting privileges: extended stay hotels are popping up all over the region, catering to the needs of long-term guests.
June 19, 1998... Welcome to Pittsburgh. The hotel industry hopes you'll stay a while. If you do, you'll find no shortage of accommodations. Among the selection: * Extended Stay America Inc., based in Fort Lauderdale, Fla., opened an 84-room StudioPLUS...

Philadelphia hotel expansion plan puts renovations over construction.
June 19, 1998... Marriott will build, but other hoteliers plan to revamp Pittsburgh may be beset by the usual signs of progress - cranes piercing the sky, streets cordoned off - but Philadelphia's plan to add 2,000 Center City hotel rooms by the year 2000...

CBS Corp. (proxy report excerpts)(Company Profile)
June 19, 1998... (NYSE: CBS) On Dec. 1, 1997, the former Westinghouse Electric Corp. changed its name to CBS Corp., operating as a radio and television broadcaster, based in New York. Founded in 1886, the company has made a series of acquisitions and...

Stewardship of AHERF falls to Anthony Sanzo. (appointment of Anthony Sanzo as president and CEO of Allegheny Health, Education and Research Foundation)
June 12, 1998... NORTH SIDE - Anthony Sanzo has a lot of untangling to do. The 43-year-old marathon runner and father of two was thrust into the limelight last week when tile Allegheny Health. Education and Research Foundation's board suddenly ousted Sherif...

URA locks DT technologies facility over lease provisions. (Urban Redevelopment Authority)
June 12, 1998... Plant doors now opened; DT cites misunderstanding POINT BREEZE - Security guards and property managers padlocked the DT Technologies Inc. plant for four days last week. The reason why is still unclear. Todd Simonds, chairman of the newly...

Selling the six degrees separation. (6dos Inc.)
June 12, 1998... Merrick Furst has built a software company that has set its sights on exploiting the web of personal connections Merrick Furst knows how to develop software. He just isn't quite sure how to sell it. So he's courting some top technology...

Highmark program beset with questions. (Highmark Blue Cross Blue Shield)
June 12, 1998... "Blues on Call" faces scrutiny by doctors, state The blues over the Blues on Call program are intensifying. Blues on Call is a new service available to most of Highmark Blue Cross Blue Shield's managed care customers. It gives 24-hour,...

Pittsburgh's venture capital funds overlook local companies.
June 12, 1998... Survey reports only $4 million invested locally Local companies got a smaller share of a growing pool of venture capital in Western Pennsylvania. According to a new survey by the Enterprise Corp. of Pittsburgh, the city's venture capital...

Partnership hopes to lure shoppers Downtown with parking tokens. (Pittsburgh Downtown Partnership)
June 12, 1998... "Easy Streets" program must win funds, support of businesses DOWNTOWN - The Pittsburgh Downtown Partnership is seeking support for a new program aimed at boosting sales at the businesses it promotes. In July, the tax-funded nonprofit plans...

Tornadoes wreak havoc in city, but local contractors are cleaning up. (Pittsburgh, Pennsylvania)
June 12, 1998... Storm damage estimate approaches $20 million MOUNT WASHINGTON - The tornadoes that ripped through Pittsburgh on the evening of June 2 left holes in roofs and in pocketbooks. The city of Pittsburgh was, perhaps, the biggest financial loser....

Marriott lawsuit forces Patriot to spin-off Interstate Hotels. (Marriott International Inc.; Patriot American Hospitality Inc.)
June 12, 1998... GREEN TREE - After a long engagement, Interstate Hotels Co. tied the knot with Patriot American Hospitality Inc. of Dallas on June 2. But the union won't last long. Because a lawsuit filed by Marriott International Inc. threatened the $2.1...

Carl Cohen's winning hand. (negotiator)
June 12, 1998... One of Pittsburgh's top deal makers is a relentless negotiator for his clients If there is indeed an art to deal making, Carl Cohen seems to have mastered it. In 1996, the 44-year-old attorney orchestrated the sale of Oakland-based GALT...

Angelic recession. (Small Business Administration's Angel Capital Electronic Network)
June 12, 1998... The SBA is providing a way to connect private investors with companies in need. The Small Business Administration is making it a little easier for your business to be touched by an angel. Angel investors are private individuals with...

Highmark: underwriting loss may be $100 million. (Highmark Blue Cross Blue Shield)
June 5, 1998... DOWNTOWN - For the third consecutive year, Highmark Blue Cross Blue Shield expects to pay out more in medical claims than it collects in premiums. The regions dominant health insurer estimates that the shortfall, known as an underwriting...

Digital Tool bankruptcy may be forced.
June 5, 1998... Creditors claim debts of $2 million, plan action POINT BREEZE - Once an upcoming manufacturing star, Digital Tool Inc. may have fallen. Its founders have left the company. Some are suing the firm for a total of $95,500. Soon, creditors...

Heinz puts on a new baby face. (signs distribution deal with Hain Food Group Inc.)
June 5, 1998... Partnership aims to boost organic baby food sales DOWNTOWN - H.J. Heinz Co., which has already farmed out food production to cut costs, has now struck a sales and product development partnership to boost baby food sales. Heinz USA, the...

Alcoa, shareholders play cat-and-mouse.
June 5, 1998... Purchase of Alumax stock stalls as antitrust decision awaited DOWNTOWN - Though Alcoa seems to be waiting patiently for the U.S. Department of Justice to approve its latest acquisition, irritated investors are playing the market until the...

Physician practice manager faces suit. (Medical Asset Management Inc.)
June 5, 1998... Local executives claim wrongful termination SOUTH SIDE -The financial problems of Medical Asset Management Inc., a national physician practice management firm that had offices in Station square, have sparked a lawsuit by two of its former...

West Mifflin firm seeks sweet taste of success with NASCAR candy bar. (ANEX Inc.; National Association for Stock Car Auto Racing)
June 5, 1998... Jeff Gordon, Dale Earnhardt food products may be next WEST MIFFLIN - You could say Tony Sylvester is entering the fast track, hoping for snack food success. His new company is distributing candy bars licensed by NASCAR and is negotiating...

InfoSAGE sells division, focuses on data warehousing.
June 5, 1998... Information technology services unit bought by SPEC Group FOREST HILLS - Dean Arnold isn't a gambling man, per se. But he's rolling the dice on a risky business strategy that could make or break InfoSAGE Inc., the software development firm...

Rochester & Pittsburgh Coal Co. sold for $150 million.
June 5, 1998... CONSOL unit buys firm plagued by debt, environmental issues UPPER ST. CLAIR - CONSOL Commonwealth Inc., a unit of the CONSOL Coal Group, has agreed to purchase Rochester & Pittsburgh Coal Co. in a cash transaction valued at about $150...

Consolidated Natural Gas Co. (Proxy Report Excerpts)(Company Profile)
June 5, 1998... (NYSE: CNG) Consolidated Natural Gas Co. is a Downtown-based energy company. Its subsidiaries are producers, transporters, distributors and marketers of natural gas. Last year, the company earned $304.4 million on sales of $5.7 billion,...