Dallas Business Journal articles from March 1995

Dallas Business Journal archives from March 1995

Institutions load up on PageNet equities. (Paging Network Inc.)
March 3, 1995... Putnam, Warburg and Janus place bets on wireless revolution The people with the money now have a piece of Paging Network Inc. Three institutions snapped up significant portions of Paging Network Inc.'s common stock over the last month....

E-Systems files lawsuit against California partner. (Odetics Inc.)
March 3, 1995... E-Systems Inc. is suing a California maker of tape archival systems for $10 million over a joint licensing agreement gone sour. E-Systems' suit claims that Anaheim, Calif.-based Odetics Inc. breached a contract, according to documents filed in...

Partners campaign for change at new company. (Robert Stetson; Fred Margolin; QSV Properties Inc.)
March 3, 1995... They say gathering proxy votes is like running for election Last year Robert Stetson and Fred Margolin hopped aboard a dinosaur with the idea of transforming it into a corporate creature with a future. They bought a company whose sole...

Ware leads group to buy Marketplace. (shopping center acquired by partnership led by Lazarus Property President Sam Ware)
March 10, 1995... A partnership led by Lazarus Property Corp. President Sam Ware has purchased the Marketplace at Lake Highlands, a 143,000-square-foot shopping center at the northwest corner of Northwest Highway and Jupiter Road. Ware said the partners will...

Storage niche is booming. (self-storage warehouse business in Texas) (Industry Overview)
March 10, 1995... After an extended hiatus, development firms large and small are getting back into the self-storage warehouse business, and they're targeting Dallas and other cities with strong growth in jobs and apartments. Paul Darden, whose Paul Darden Co....

Upstarts: goin' to Abilene. (competition between new commuter airlines Dallas Express Airlines Inc. and Texas Airways in Abilene, Texas)
March 10, 1995... There's a battle brewing at Love Field over some hot property three hours west of Dallas: Abilene. Really. The city of about 106,000 has become the target of two start-up commuter air-lines that are calling Love Field home. One of them,...

Winstead 10 exit to start new law firm. (lawyers at Winstead, Sechrest and Minick to start their own firm)
March 10, 1995... Banking on an improving construction market, 10 attorneys at Winstead, Sechrest & Minick will start their own firm March 20. Winstead shareholders Jeff Ford and Steve Nelson, who have worked at the firm more than 18 years, decided the time was...

Officials want Congress to make I-35 upgrade a high priority. (Texas and Oklahoma government officials prioritize Interstate 35 renovation)
March 10, 1995... Officials pushing Interstate 35 as an international superhighway will meet with federal legislators Friday in Washington, D.C., to try to obtain more federal funds for the highway. Denton County Judge Jeff Moseley, leader of the Interstate 35...

Miller to renovate Preston Royal. (Henry S. Miller Co. to upgrade shopping center Preston Royal Village)
March 10, 1995... Henry S. Miller Co. is renovating Preston Royal Village, a 37-year-old shopping center built in 1958 by Henry S. Miller Sr. and Trammell Crow. Henry S. Miller Interests Inc. President Henry S. Miller III said the 240,000-square-foot center,...

Street to lease Wine Press building to Houston restaurateur. (restaurateur Gene Street to give way to Joey's)
March 10, 1995... The Wine Press, one of Dallas' most venerable restaurant nightspots, is closing. In its place will come the offspring of one of Houston's most well-known restaurant groups. The 17-year-old Wine Press, owned and operated by restaurateur Gene...

Tire dealers sue Goodyear for $230 million. (Goodyear Tire and Rubber Co.)
March 10, 1995... Frank Roszell's true blue pride as a Goodyear Tire & Rubber Co. retailer has lost its sparkle. The main reason sits across the street from his Harwood Tire store in Bedford. It's a Discount Tire store that sells Goodyears for less. "Ever...

Income survey shows some doctors richer, some poorer.
March 10, 1995... While primary care physicians earned about 7% more in 1993, specialists saw a 5% to 20% drop in income for the year, according to a recent nationwide survey. The survey, conducted by Medical Group Management Association of Denver, Colo., and...

Octel Network to hire 150 people. (Octel Network Services)
March 10, 1995... The seeds of Tigon Corp. have sprouted into one of Octel Corp.'s fastest growing divisions. Octel Network Services, the Dallas division set up when Octel bought voice messaging company Tigon Corp. in 1992, will add about 150 people in 1995,...

Litton Industries to buy one of Garland's largest employers. (Varo Inc. of Garland, Texas)
March 10, 1995... One of the world's leading aerospace and defense technology companies is attempting to purchase one of Garland's largest employers - Varo Inc., a developer and producer of laser and night vision equipment. The acquisition by Litton Industries...

Northern hits pay dirt. (Northern Telecom Inc. sees large profits in contract with Grupo Iusacell)
March 17, 1995... Mexican wireless contract figures to be worth at least twice original estimate Northern Telecom Inc.'s Richardson-based wireless division could see a $330 million equipment contract double in value as a Mexican telecom giant rolls out local...

Miami Subs franchisee stumbles. (Miami Subs Grill; Lone Star Hospitality Corp.)
March 17, 1995... With its palm trees, thatched-roof huts and gurgling waterfall, the Miami Subs Grill at the busy corner of North Central Expressway and Southwestern Boulevard is a tiny, man made oasis. Lunch business is brisk on this particular sunny winter...

Home Depot kick starts power center. (Home Depot Inc. to build store in Garland, Texas)
March 17, 1995... A group led by Dallas real estate executive Peter Baldwin has landed Home Depot as anchor of a "power center" to be built in Garland, next to a proposed mall site at the intersection of Highway 190 and State Highway 78. The proposed center,...

Nokia supplier negotiates for space at Alliance Airport. (Nokia Mobile Phones Inc.)
March 17, 1995... One of Nokia Mobile Phones Inc.'s Finnish suppliers crossed the Atlantic and is looking for a place to dock in Dallas. Parts manufacturer Perlos is negotiating with Alliance Airport to set up a local manufacturing operation. Perlos official...

Dallas holding company buys bank. (Signature Bancshares Inc. acquires Firts State Bank of Coolidge)
March 17, 1995... A Dallas-based bank holding company is buying a Coolidge bank and opening a loan office here. Hugh Scheurer, president and CEO of Signature Bancshares Inc., said the holding company's purchase of First State Bank of Coolidge will be effective...

SW Bell fills gaps with bargains in PCS auction. (Southwestern Bell Mobile Systems Inc.; personal communications services)
March 17, 1995... Southwestern Bell Mobile Systems Inc. scrounged around in the bargain basement of the just-closed PCS auctions and came up with three deals. Southwestern Bell was the top bidder for wireless licenses in Florida, Arkansas and Oklahoma. The...

D FW Airport wants more world travelers in Metroplex. (Dallas Fort Worth International Airport)
March 17, 1995... An effort to boost international travel to and from the Metroplex has resulted in eight new routes and three new airlines at Dallas-Fort Worth International Airport since 1994. Two international routes have been discontinued - American...

Debate over federal banking law centers on community reinvestment.
March 17, 1995... Texas Rep. Kenny Marchant, R-Coppell, wants more Community Reinvestment Act reporting requirements if Texas is to opt into interstate banking. Texas Bankers Association officials say the federal interstate banking law, if Texas chooses to opt...

Traders try to get handle on new customs law. (Customs Modernization Act)
March 17, 1995... A new U.S. Customs law will speed the paperwork process for importers by allowing electronic transmission of documents. That's the good news. The bad news is that importers will be held more accountable through more checks, audits and...

Legislature looks at bill that would define small business.
March 17, 1995... A Texas state representative wants all small businesses to be alike in the eyes of state agencies. Rep. Helen Giddings, D-Dallas, has introduced a proposal that would replace state agencies' various methods of defining small business with one...

Dallas gets Sprint unit. (Sprint Corp.'s Long Distance Div.)
March 24, 1995... Business-marketing division will bring 200 jobs to town As the long-distance telephone wars heat up, Sprint's best sales brains are coming to Dallas to do battle. A division of Sprint Corp. that focuses on long-distance business customers is...

Amend adds twist to brokerage. (Amend Group)
March 24, 1995... Something's been going on in The Amend Group's offices that could redefine the role of a real estate firm - and ruffle a few feathers in the architecture industry. Amend Group President John Amend, who previously created the first...

Dealing for doctors: Harris invests millions in practices. (Harris Methodist Health System)
March 24, 1995... Fort Worth's biggest hospital system is investing millions of dollars in two physician groups that quickly are becoming the largest primary-care practices in Tarrant County. Harris Methodist Health System has put about $5 million so far into...

Wet 'n Wild to be acquired by Six Flags. (Wet 'n Wild Inc.; Six Flags Theme Parks Inc.)
March 24, 1995... Wet 'n Wild Inc. is preparing to close its Garland water park and sell its Arlington facility. Final negotiations are underway to sell the Arlington Wet 'n Wild to Six Flags Theme Parks Inc., according to sources familiar with the deal. Upon...

Small telecom companies protect interests in Legislature. (Texas Legislature)
March 24, 1995... A group of small telephone companies are ducking while national powerhouses like AT&T Co., MCI Communications Corp. and Southwestern Bell slug it out in the Texas Legislature. Small providers of telephone service split their requests for...

Shareholders hit Polyphase with class-action lawsuit. (Polyphase Corp.)
March 24, 1995... Polyphase Corp. is the latest Dallas company stung by disgruntled shareholders. In March, Minnesota stock broker Charles M. Pine filed a class action lawsuit against Polyphase, Chief Executive Paul Tanner, and vice presidents James Rudis and...

Mexico's recent troubles haven't frightened Pier 1. (Pier 1 Imports Inc.)
March 24, 1995... So you think a little economic instability and political upheaval is making Mexico an undesirable place to do business? Then don't follow the lead of Pier 1 Imports. Fort Worth-based Pier 1 believes Mexico is a land of opportunity. Still....

Metroplex inventors are above average, but don't keep pace with Austin and Houston. (Metroplex Inc.)
March 24, 1995... It's tinkerers like Michael Grimes of North Richland Hills who help put the Metroplex in the inventor spotlight - well, at least above the national average. Grimes, who owns a barber and beauty shop in Tarrant County, invented a...

Greater Dallas Chamber starts international programs. (Greater Dallas Chamber of Commerce)
March 24, 1995... The Greater Dallas Chamber of Commerce is expanding its international programs to attract foreign business and to help companies do business. The chamber has developed a trade resource committee that will provide pro bono international legal...

Buyer closes in on ex-EDS campus. (Electronic Data Systems Inc.)
March 31, 1995... Partnership said to offer $32 million for city's largest remaining undeveloped plot inside LBJ The largest piece of undeveloped North Dallas land inside the LBJ Freeway loop is close to getting a new owner, sources familiar with the...

Tort reform rattles plaintiff lawyers.
March 31, 1995... As the tide turns in long political fight, their lucrative way of life is at risk Dallas plaintiff attorney Victor McCall calls tort reform a witch hunt, and he's trying not to become one of its victims. His first love is personal injury...

PepsiCo to lease Aberdeen. (Aberdeen building on Dallas North Tollway)
March 31, 1995... PepsiCo Inc. is close to signing a deal to lease the entire Aberdeen office building on the Dallas North Tollway, according to sources close to the deal. Broker Drew Peterson confirmed that he and fellow Cushman & Wakefield broker Steve Thelan...

Bell regains edge in telco war. (Southwestern Bell)
March 31, 1995... After spending months badmouthing Southwestern Bell and cozying up to the long-distance companies, the powerful Texas Daily Newspaper Association has switched camps. Made up of the biggest papers in the state's publishing circles - the Dallas...

Myers Co. starts work on spec industrial projects. (Marc Myers Co.)
March 31, 1995... Marc Myers Co. is starting work on three new speculative industrial projects totaling more than 477,000 square feet. Myers is undertaking the largest of the projects - a 290,000-square-foot warehouse north of D/FW Freeport in Coppell - in a...

Physicians group helps finance physician management company. (Select Practice Management Inc.)
March 31, 1995... Physicians with one of the Metroplex's largest cardiology practices are the initial investors in a new physician management company. Some of the 25 physicians with Texas Cardiology Consultants put money into Select Practice Management Inc.,...

Octel to move 100 VMX jobs from Dallas to California. (Octel Communications Corp.; VMX Inc.)
March 31, 1995... Octel Communications Corp. is pulling up VMX Inc.'s last Dallas stakes. Octel is closing down VMX's Dallas manufacturing facility and customer support center off of Waterview Parkway and moving those operations to Milpitas: Calif. - Octel's...

New Nafta center trades in information. (North American Free Trade Agreement)
March 31, 1995... The North American Free Trade Agreement offers lots of perks for businesses that want to trade with America's neighbors to the north and south. But with it comes untried territory, new bureaucracy and a host of unfamiliar procedures and forms....

Banking bill may influence Dallas' financial clout.
March 31, 1995... To any argument there are two sides, and the interstate banking issue is no exception. One side claims that a group of independent banks have banded together in an alarmist attempt to kill federal legislation that would make it easier for...

Legislature likely to revise laws governing credit unions. (Texas)
March 31, 1995... Like banks, Texas credit unions are in for some changes from this Legislature. Credit unions, like community-based banks, often are the financial institution with the closest ties to the local community. The House just passed House Bill 731 by...

Coffee culture. (Cafe Society Coffee Co.)
March 31, 1995... Cafe Society owners say java is an international language It doesn't take treaties or agreements to bring together people, cultures and cities. Laurie Sandefer serves coffee. Sandefer, president of Cafe Society Coffee Co., and co-owner...

Arvida Inc. creates a 'magical kingdom' in Allen. (housing development in Allen, Texas) (Best Real Estate Deals of 1994)
March 31, 1995... Once upon a time, in the quickly developing city of Allen, lay a large tract of land that was once the property of the Resolution Trust Corp. This nearly 2,700-acre tract of land remained a barren, undeveloped space, until 1994, when a...

Homes to have French accent. (Turtle Creek residential project) (Best Real Estate Deals of 1994)
March 31, 1995... As this Turtle Creek residential project enters its final development stage, expect the $17 million Place des Vosges development to have more of a French flavor than traditional Southern charm. This development was a runner-up in 1993's "Best...

Nokia agreement at Alliance came together fast. (Nokia Mobile Phones Inc.; Alliance Development Co.) (Best Real Estate Deals of 1994)
March 31, 1995... A multi-tiered deal between Nokia Mobile Phones Inc., Alliance Development Co. and the City of Fort Worth is the judges' hands-down winner for best new industrial development. Everything about this agreement is big, especially the number of...

IDI's spec space largest in '94. (Industrial Developments International Inc.) (Best Real Estate Deals of 1994)
March 31, 1995... Industrial Developments International Inc.'s project is known as the largest warehouse development started in Dallas without pre-leasing, according to Matt Bukin of Woodbine Development Corp. For all intents and purposes, the development now is...

Vista Ridge Village adds more retail in Lewisville. (Dallas, Texas) (Best Real Estate Deals of 1994)
March 31, 1995... What was nothing more than a gaping gravel pit off of Stemmons Freeway less than three years ago now is a thriving, prosperous retail cornucopia for the city of Lewisville. Vista Ridge Village is proof of what a little vision and about $60...

TU commits to downtown with building purchase. (Texas Utilities) (Best Real Estate Deals of 1994)
March 31, 1995... Texas Utilities' purchase of the former Arco Tower building from petroleum company Atlantic Richfield Co. is the judge's pick for Best Deal with Existing Real Estate - Office. After buying Arco Tower, TU moved employees from Skyway...

First USA signs lease for eight floors. (First USA Inc.) (Best Real Estate Deals of 1994)
March 31, 1995... A boost to Dallas' central business district was provided by First USA Inc.'s decision to consolidate its employees in Thanksgiving Tower. The long-term commitment filled eight long-vacant floors and 276,846 square feet at 1601 Elm St. The...

Citicorp's lease at Solana created 150 new jobs. (Best Real Estate Deals of 1994)
March 31, 1995... Citicorp is the largest bank holding company in the United States. It has operations in 93 countries and serves more corporations, governments, other financial institutions and individuals than any other financial services company in the world....

Exel Logistics consolidates contract warehouses. (Best Real Estate Deals of 1994)
March 31, 1995... Sometimes complicated situations work themselves out. But usually, complex situations only are solved through hard work, determination and perseverance. Take, for example, the situation involving Exel Logistics' purchase of buildings in the...

Lease breathes new life into Village on the Parkway. (shopping center in Addison, Texas) (Best Real Estate Deals of 1994)
March 31, 1995... Standing like a monument to better times, the Sakowitz building in Addison seemed destined to remain a silent, mocking enigma. For nearly 10 years, the three-story retail structure sat vacant and unused, even though it overlooked one of the...

Mary Kay picked Corporate One in Addison for HQ. (Mary Kay Corp.; Addison, Texas) (Best Real Estate Deals of 1994)
March 31, 1995... Any real estate agent will tell you that it's never easy to sell large office buildings. And some are harder to sell than others. Such is the case with the Corporate One Building at the Dallas North Tollway and West-grove in Addison. Many in...

Jones family snaps up Post Oaks land in six days. (Dallas Cowboys owner Jerry Jones) (Best Real Estate Deals of 1994)
March 31, 1995... Prime land deals are a lot like football games: Buyers, sellers and brokers huddle, discuss strategy, struggle to come to terms, break apart and then regroup, only to repeat the process again and again. But once in a great while, a deal sails...

Mayor's housing plan honored. (Dallas, Texas Mayor Steve Bartlett) (Best Real Estate Deals of 1994)
March 31, 1995... The judges for the Best Real Estate Deals considered many 1994 Dallas-area transactions - industrial, retail, residential, land and office - but still they felt something was missing. One of the most impressive projects happening in 1994, the...

Motorola chooses Fossil Creek for headquarters. (Texas) (Best Real Estate Deals of 1994)
March 31, 1995... Yogi Berra said it: "It seems like deja vu all over again." At least, that's what it seemed like as history began repeating itself in Fossil Creek in 1994. When Motorola decided to begin construction of a 364,000-square-foot office and...

Marshall Square's success a boost to South Dallas. (subdivision) (Best Real Estate Deals of 1994)
March 31, 1995... An agreement last year between banking executives, City of Dallas officials and community leaders resulted in a successful inner-city housing development and the judge's choice for best deal in the Community Impact - Rehabilitation/Renovation...

Joske's building gets new life. (Dallas, Texas) (Best Real Estate Deals of 1994)
March 31, 1995... Not only did this deal yield the first Dallas City Council-approved residential housing in the Central Business District, it finally made something out of the old Joske's building in Downtown. Council unanimously approved the restoration of the...

ABC converts vacant offices into specialty studios. (ABC Radio Networks) (Best Real Estate Deals of 1994)
March 31, 1995... ABC Radio Networks' 15-year lease of an empty 70,000-square-foot building, which ABC then helped renovate for use as a multimillion-dollar production and broadcast studio, wins this year's award in the Best Community Impact - Creativity or...

Lake Ridge finally gets development under way. (Dallas County housing development) (Best Real Estate Deals of 1994)
March 31, 1995... "It was kind of a twisted tale," said broker Rex Glendenning, referring to the on-again, off-again Lake Ridge development at Joe Pool Lake, "but now, things couldn't be better." At 6,000 acres, Lake Ridge was the largest master-planned...

Judges represent many aspects of real estate industry. (panel of judges for 'Best Real Estate Deals of the Year' of the Dallas Business Journal) (Best Real Estate Deals of 1994)
March 31, 1995... This year's distinguished panel of judges for the "Best Real Estate Deals of the Year" includes: Alex Orfinger, publisher of the Dallas Business Journal. Larry Fonts, president of the Central Dallas Association, Dallas CBD Enterprises and...