Dallas Business Journal articles from October 1998

Dallas Business Journal archives from October 1998

Ennis wins $51 million plastics plant; Sterilite Corp. lured by city incentives; promises 500 jobs in five years.
October 30, 1998... ENNIS - To meet increasing demand for its plastic products, Sterilite Corp. of Townsend, Mass., will build a 1 million-square-foot manufacturing plant here that will employ 500 people within five years. The project, valued at $51 million,...

Trio carves 36-acre light industrial park on Stemmons.(real estate executives Fred Gans, Scott Remphrey and Walt McElroy)
October 30, 1998... STEMMONS CORRIDOR - Three Dallas real estate executives have teamed up to create a 3,6-acre industrial park on the southeast corner of Storey Lane and Interstate 35. Fred Gans of Cornerstone Development Corp., Scott Remphrey of Sovereign...

Food firm's on the grow: state's largest black-owned business plans acquisition spree.(Simeus Foods International Inc.)
October 30, 1998... State's largest black-owned business plans acquisition spree MANSFIELD Simeus Foods International Inc., the largest black-owned company in Texas and the 15th largest in the United States, has finished the first of what may be a steady...

Cornerstone snags 14 acres for multifamily development.(Cornerstone Development Corp.)
October 30, 1998... FAR NORTH DALLAS - Cornerstone Development Corp. snatched away a 14-acre site at the southwest corner of North Central Expressway and Goldmark Drive from several other multifamily developers, including Las Colinas luxury developer JPI. ...

Upscale residential plan completes Solana package.(Maguire Partners' expansion of the Solana complex to include an upscale residential development)
October 30, 1998... SOUTHLAKE - MaguirePartners, working on behalf of IBM Corp., will expand Solana with a 118-acre upscale residential development and has a group of eight custom builders ready to begin the first phase of the wooded enclave. The...

Green Oaks builds its own provider network.(Green Oaks Behavioral Healthcare Services Inc.'s launching of Integrated Psychiatric Medicine)
October 30, 1998... No more middle man: System meant to cut costs in providing mental health services NORTH DALLAS - Green Oaks Behavioral Healthcare Services has launched its own provider network, taking out the middle man in the provision of mental health...

ValueNet tracks consumers' purchases for manufacturers.(Mercantile Network Grocery Inc.'s ValueNet system)
October 30, 1998... RICHARDSON - Backed by the former president and CEO of Perot Systems, a Richardson company is developing software intended to make it easier for the grocery industry to target marketing programs to specific consumers. Mercantile Network...

Sterling Jewelers to open Jared superstores.
October 30, 1998... Is bigger always better? Sterling bets on it with mammoth stores located near malls PLANO - The nation's second-largest jewelry chain has stepped up competition against dominant Zale Corp. of Irving by expanding its superstore concept....

Maverick REIT finds opportunity after crash.(U.S. Restaurant Properties Inc.)
October 30, 1998... U.S. Restaurant Properties grows by specializing in gas stations and fast-food outlets PARK CENTRAL - For commercial lenders, the autumn crash of commercialmortgage backed securities is a calamity. But for U.S. Restaurant Properties - a...

City fines Golden Cab after taxi driver's fatal accident.(Dallas, Texas)
October 30, 1998... WEST DALLAS - The city of Dallas is fining Golden Cab Co. $500 because one of the company's drivers - killed along with his passenger in a recent car wreck - didn't have the city permit that's required to drive a cab. Golden Cab driver...

VHA moving to Caltex's space at Caltex House.(Caltex Petroleum Corp.)
October 30, 1998... Elbow room: Growing health care network seeking to sublease offices in Urban Center LAS COLINAS - VHA Inc. plans to take Caltex's place in Caltex House when the oil company moves back to Singapore in the spring. A VHA spokesman...

Proceeding with caution: where's the money? (capital in Dallas-Fort Worth, TX, area available only for quality deals in the wake of expected recession)
October 23, 1998... Capital still plentiful, but only for 'quality' deals When it comes to growth capital, the new watchword in the Metroplex is "quality." Bankers, venture capitalists and institutional investors have plenty of money to put into Dallas-Fort...

Irving officials mull DCURD rescue plan. (Texas; proposed bailout of Dallas County Reclamation and Utility District)
October 23, 1998... LAS COLINAS - City officials in Irving are considering a $21.6 million plan to bail out the Dallas County Reclamation and Utility District and to encourage development in Las Colinas. DCURD President David Brune proposed a city takeover of...

New owners plot development at Waters Ridge. (undeveloped 160-acre Waters Ridge Business Park to be split in half and sold)
October 23, 1998... LEWISVILLE - The 160-acre undeveloped Waters Ridge Business Park will soon be split in half and said. Two developers have all the land under contract from Vantage Cos. and Granite Construction Inc., the joint venture that currently owns the...

Fort Worth building permits hit a record high - again.
October 23, 1998... FORT WORTH - For the second year in a row, the city of Fort Worth has experienced a record year in building permits. Ann Kovich, director of the city's development department, said that while her office is still compiling its fiscal year-end...

Next battleground for D-FW dailies: northeast Tarrant? (Dallas-Forth Worth publications Fort Worth Star-Telegram and The Dallas Morning News)
October 23, 1998... ARLINGTON - The Fort Worth Star-Telegram may have won the first battles to dominate the fast-growing suburbs between Dallas and Fort Worth, but experts say the war is far from over. Media circles are buzzing with reports that the two...

Kroger rolls out 'Signature' concept in supermarket war. (launch of Kroger Co.'s new Signature stores envisioned to enhance market share of grocery chain in Dallas-Fort Worth, TX, area)
October 23, 1998... DESOTO - Cincinnati-based Kroger Co. hopes to strengthen its position in the local grocery war with a customer-tailored superstore. The first brand-new Kroger Signature store is scheduled to open in DeSoto on Oct. 28. Kroger plans to add...

Advance Paradigm moving into Richardson offices. (Irving, TX-based pharmacy benefits manager expands and leases more space in Richardson, TX)
October 23, 1998... Pharmacy benefits-management company preparing to expand scope of cost-containment services IRVING - Pharmacy benefits-management company Advance Paradigm is enlarging the scope of its services and leasing more space in Richardson to...

Technology: bad times bring good prospects for recruiters. (Dallas-Fort Worth metropolitan area labor market)
October 23, 1998... CAROLLTON - For Tony Quisenberry, the worst of times may mean the best of times. Quisenberry is president and CEO of Carrollton-based Thermotek Inc., which makes components for wireless-phone networks. Demand for its products has been hot,...

Real estate: investors shop as REITs take a bath. (real estate investment trusts; Dallas-Fort Worth metropolitan area real property market)
October 23, 1998... Real Estate Investment Trusts (REITS) have taken a beating on the stock market in recent weeks, as have Commercial Mortgage Backed Securities. But the REITS' slide on the market is good news for some private buyers, who say now is a good...

Manufacturing: slowdown may have silver lining. (Texas)
October 23, 1998... Forecasters in the state comptroller's office are predicting only a 20% chance of a national recession in the near future. For that reason, the 1999 outlook being prepared for the Legislature assumes the Texas economy will suffer only a...

CPR drops national plans in favor of regional growth. (management services firm Cardiovascular Provider Resources Inc.)
October 23, 1998... NORTH DALLAS - Management services company Cardiovascular Provider Resources Inc. has thrown out its national expansion strategy to focus on regional growth. The change stems, in part, from the collapse of the national physician practice....

Action heroes. (establishment of Wind River Productions)
October 16, 1998... Chuck Norris' son starts local film company STEMMONS CORRIDOR - The eldest son of actor Chuck Norris is following in his famous father's footsteps with the launch of a movie production company in Dallas. Industry sources say the weight of...

Amresco waits for markets to calm: high-flying company's stock brought low by global chaos.
October 16, 1998... DOWNTOWN - During the spring of 1998, Dallas-based Amresco Inc. was a bright star in the constellation of financial-services stocks. Back then, common stock in Amresco (Nasdaq: AMMB) traded for more than $39 per share. The company had risen...

Office developer getting close to Dallas Cowboys. (Poynter Scifres Cos.)
October 16, 1998... Proximity to team may lure Valley Ranch tenants IRVING - Poynter Scifres Cos. of Fort Worth has announced plans to develop a low-rise office building in Valley Ranch overlooking the Dallas Cowboys' practice field. The 95,000-square-foot,...

Quiltcraft expanding, moving plant to South Dallas. (Quiltcraft Industries Inc.)
October 16, 1998... SOUTHERN DALLAS - In another triumph for southern Dallas, Quiltcraft Industries Inc. will relocate its North Dallas headquarters and manufacturing plant there, purchasing a long-vacant warehouse and adding 100 jobs. The news of a North...

Myers & Crow developing CoServ property in Corinth. (Texas)
October 16, 1998... CORINTH - Myers & Crow Co. Ltd. of Dallas is putting up the first office building in the city of Corinth. The developer began construction Oct. 1 on a two-story, 160,000-square-foot call center for CoServ Electric, a fast-growing utilities...

Fort Worth developer leaps into gourmet sandwich field. (Sandella Inc.)
October 16, 1998... FORT WORTH - A Fort Worth real estate developer has signed a deal to open 100 pita sandwich shops in Texas by 2003. Redding, Conn.-based Sandella's Inc. tapped Scott Christensen to serve as the Texas-area developer for its 5-year-old...

North Dallas Bank signs on for Ignite's Web application. (Ignite Sales Inc.)
October 16, 1998... NORTH DALLAS - Local start-up Ignite Sales Inc. has signed $545 million North Dallas Bank & Trust as the first client for its MoneyMatch Web-site application, which is designed to match banking customers with banking products. Well known for...

John Hancock unloading D-FW office portfolio. (John Hancock Mutual Life Insurance Co.; Dallas-Fort Worth, Texas)
October 16, 1998... Experts say buildings will be tough to sell, given credit crunch and 'skepticism' about the economy GREATER DALLAS - John Hancock Mutual Life Insurance Co. is planning to put its Metroplex office portfolio on the sales block by Nov. 1. Up...

Eleven D-FW companies to pitch to venture capitalists. (Dallas-Fort Worth, Texas)
October 16, 1998... NORTH DALLAS - Like many small companies, IP Metrics Software Inc. has a good product and big plans. Now all it needs is money. Based in Euless, the four-employee shop makes software, called NIC Express, that provides extra capacity in...

Temerlin McClain starts new full-service shop.
October 16, 1998... Size matters: Advertising giant sees startup as way to reach small-business market IRVING - The biggest advertising agency in the Metroplex has launched a new full-service shop designed to focus on small clients. Temerlin McClain Inc....

Carrier plans freight terminal: American Freightways expands operations with $8 million Fort Worth facility.
October 9, 1998... FORT WORTH - American Freightways Corp., the nation's seventh largest less-than-truckload carrier, is expanding its Metroplex operations to include a new $8 million terminal in Fort Worth that may ultimately employ more than 200. A...

Cambridge Capital picks SW Dallas for housing project.
October 9, 1998... Land sold for Echo Valley development OAK CLIFF - Dallas-based Cambridge Capital Corp. has purchased 515 acres in southwestern Dallas for a planned community of new homes, apartments, retail and light industrial buildings to be known as Echo...

M&As freefall to 10-month low. (mergers and acquisitions in Dallas-Fort Worth Metropolitan Area)
October 9, 1998... Plunging stocks, unstable global economy stunt local market DOWNTOWN - The market has evaporated in the Metroplex for merger-and-acquisition deals of $1 billion or more, as well as throughout Texas and the nation, an exclusive report created...

Internet America gives investors chance to take stock in GEEK.
October 9, 1998... DOWNTOWN - Despite uncertain markets and an abundance of largely unprofitable competitors, Internet America Inc., a high-profile provider of Internet access, is planning to go public. The Dallas company said in federal filings that it hopes...

AmeriTruck sells refrigerated unit to stay afloat. (AmeriTruck Distribution Corp)
October 9, 1998... Fort Worth trucking conglomerate also trims operations, lays off workers to solve 'liquidity problem' FORT WORTH - Continuing financial problems at AmeriTruck Distribution Corp. have forced the large Fort Worth trucking conglomerate to lay...

New Richards unit to target direct marketing. (Richards Group Inc's new subsidiary Richards/Russo)
October 9, 1998... Agency lures top Brierley exec to start Richards/Russo subsidiary in response to rising client demand NORTHEAST DALLAS - Longtime Brierley & Partners executive Bill Russo has teamed with The Richards Group Inc. to launch a new direct...

Sur La Table to bring its upscale kitchenwares to the Metroplex. (new stores in Dallas-Fort Worth Metropolitan Area)
October 9, 1998... KNOX-HENDERSON - Sur La Table, a nationally renowned kitchenwares chain, has cooked up plans to enter the Metroplex market this fall. The Seattle-based retailer will open its first 7,000-square-foot shop on Travis Street in the Knox-Henderson...

'Texas Business' suspends publication - again. (magazine)
October 9, 1998... Owners felt it would be better for Presidio to concentrate 100% on The Met, which 'is doing great' DEEP ELLUM - Texas Business is back on the block, exactly one year after a start-up holding company bought the troubled statewide magazine....

Builder sees concrete market for houses on Travis Street. (CCM Group)
October 9, 1998... KNOX-HENDERSON - As president of CCM Group, a Dallas-based development company, Diane Cheatham has found a way to combine home building with her love of cutting-edge design. Cheatham develops concrete homes using a tilt-wall construction...

Company succeeds by selling to ethnic audience. (CulturalAccess Worldwide)
October 9, 1998... PLANO - From a new, two-story office building in Plano, a roomful of operators sit at computer terminals selling long-distance phone service to Hispanic households all over the country. An automated system dials the numbers and routes calls...

D/FW may get tough on cabbies; officials agree with complaints about a glut of drivers who overcharge their passengers. (Dallas-Fort Worth Airport)
October 2, 1998... Officials agree with complaints about a glut of drivers who overcharge their passengers D/FW AIRPORT -- In a move that's likely to have hundreds of Metroplex cab drivers up in arms, officials at Dallas/Fort Worth International Airport are...

Airport names five firms for $1.2 billion expansion; four companies hail from Dallas-Fort Worth.
October 2, 1998... D/FW AIRPORT -- Dallas/Fort Worth International Airport has selected five Texas companies to handle a $1.2 billion expansion that's planned for the Metroplex airport next year. The Austin office of Colorado-based Hensel Phelps Construction...

Steaking their claim. (steakhouses Dallas-Fort Worth, TX)
October 2, 1998... Steakhouses are entering Dallas-Fort Worth like there's no tomorrow. But some experts wonder how long the boom will last. GREATER DALLAS AREA -- The stampede of steakhouse restaurants into the Metroplex is far from over, despite growing...

Occidental 'delays indefinitely' planned move to Las Colinas. (Occidental Oil & Gas Corp.)
October 2, 1998... LAS COLINAS -- Occidental Oil and Gas Corp. of Bakersfield, Calif., has delayed indefinitely its plans to move to Las Colinas. "I think the best way to summarize the deal is that the lease is not signed," said Jeff Ellerman, president of...

Texas Independent makes 'initial' investment. (Texas Independent Bank)
October 2, 1998... 16-year-old `bankers' bank' plans name change to correspond with its growing national client base IRVING--Texas Independent Bank will change its name on Dec. 31 as the $602 million "bankers' bank" continues its recent transformation into a...

Dallas firms follow pay increases for rookie lawyers.
October 2, 1998... Strong economy, hot competition push paychecks up by 20% for top-of-class law graduates GREATER DALLAS--When Houston-based Vinson & Elkins L.L.P. announced this summer it would offer rookie attorneys $90,500 starting pay, it wasn't long...

Incubator helps Fast Software launch its product. (Startech)
October 2, 1998... Startech connection provides new software firm with financial backing, market expertise to get ball rolling NORTH DALLAS -- Backed by $250,000 in seed financing, three former managers at Big Five accounting and consulting firms have launched...

Adam's Mark fully booked for Oct. 15 opening. (hotel in Houston, TX)
October 2, 1998... `Big' is the word for almost everything about newly renovated convention hotel in downtown Dallas DOWNTOWN -- it's the biggest hotel in Texas, the third-largest in the nation and the biggest in the Adam's Mark Hotels & Resorts chain. ...

Chancellor's radio deals dominate August M&As. (Chancellor Media Corp.'s acquisition of Capstar Broadcasting Corp.; mergers & acquisitions)
October 2, 1998... IRVING -- Radio broadcast behemoth Chancellor Media Corp. dominated the Dallas-Fort Worth market for mergers and acquisitions during August, making the two largest offers while also buying six stations in three other deals. Chancellor...

Service sector increases by nearly 40,000 jobs in Dallas.
October 2, 1998... Dallas' robust service sector added 39,500 jobs during the past year, placing it 11th for service-sector growth among 182 cities, according to a study by the American City Business Journals. The city also ranked above the national...