The Business Journal - Serving Phoenix & the Valley of the Sun articles from December 1997

The Business Journal - Serving Phoenix & the Valley of the Sun archives from December 1997

Chandler is prime turf for hospitals. (Chandler Regional Hospital)
December 26, 1997... Several major health systems are looking to acquire or partner with Chandler Regional Hospital, nestled in the second-fastest growing community in the nation. Some of the huge national companies knocking on Chandler Regional's doors are...

Vehicle tax tops 1998 Legislature. (Arizona)(Capitol Outlook)
December 26, 1997... With the 1998 legislative session about to convene, small-business owners this year are adding the vehicle license tax to their wish list of tax slashes. The vehicle levy - along with a reduction in corporate income taxes from 9 percent to...

2 bills draw interest. (Arizona Legislature)(Capitol Outlook)
December 26, 1997... Two bills that would ease the regulatory compliance process for businesses and aid the welfare-to-work movement will highlight the small-business agenda in the next session of the Arizona Legislature. Part of the regulatory bill seeks to...

Survey: major banks lack customer loyalty. (Phoenix, Arizona)
December 26, 1997... Many Phoenix bank customers show little loyalty in their institutions, a sign of competition and big changes in the banking industry. O'Neil Associates Inc. asked 459 adults in Maricopa County whether they would choose their current bank if...

Software group leads education program. (Arizona Software Association)
December 26, 1997... Stung by the consequences of an increasingly meager work force, the state's software industry is hoping to create Arizona's first community-college level curriculum for future programmers. The Arizona Software Association is working with...

Marriott to build lake at new Deer Valley resort. (Marriott International Inc.)
December 26, 1997... Marriott International is proceeding with its plans to build a 950-room resort hotel at Deer Valley Road and Tatum Boulevard within the Desert Ridge master-planned community. The 1 million-square-foot property will be the first new resort to...

2d firm snares Diamondbacks deal. (Arizona Diamondbacks)
December 26, 1997... A Phoenix company that is producing the tickets for the Arizona Diamondbacks' opening day is rewriting its business strategy. Dimensional Visions Group Ltd. is reassembling its management team and wants to raise $1 million to tap into the...

Arizona may take $50M export hit. (due to Asia's financial crisis)
December 19, 1997... Asia's continuing financial crisis could have a $50 million annual impact on Arizona exports over the next few years, a hit that translates into smaller than expected job expansion and sluggish growth in personal income. According to...

State's milk production, mergers hot. (Arizona)
December 19, 1997... Arizona's dairies are continuing their consolidation trend while hanging on to their position as the nation's most efficient milk producers. United Dairymen of Arizona, which serves as an agent for many Arizona dairy companies, has seen its...

Family builds Buckeye dairy. (Buckeye, Arizona; Grand View Dairy of the Vanderweys)
December 19, 1997... A new Buckeye dairy is riding the state's trend toward mega-milking operations. "We're vertically integrated," said Nick Vanderwey, 31, referring to the dairy's onsite capacity to provide food and medical treatment for its herd. "Part of the...

Opus West sets course for fast track in 1998. (real estate developer)
December 19, 1997... Opus West is prepared to start the new year rockin' and rollin' - continuing a frenetic development pace that ranks the company a leader in new office building construction across the Valley. Consider: * The company plans to break ground...

Theaters lead off at Los Arcos; $300 million mixed-use redevelopment called key to south Scottsdale. (Los Arcos Mall)
December 5, 1997... A 24- to 30-screen movie theater will ignite the redevelopment of Los Arcos Mall in south Scottsdale, marking the first step toward creating a regional entertainment center. But the theater is only the first part of a $300 million, mixed-use...

Hot sellers: QVC is the ticket for Valley-made products. ('The '97 Quest for America's Best - QVC's 50 in 50 Tour')
December 5, 1997... Stop, drop and Sell. That's what Firestop Products Inc. did with its Flamestop Portable Fire Extinguisher during QVC's recent Arizona visit. The Scottsdale company sold 6,000 units in approximately five minutes and took in $42,000 in...

New web site helps patients compare costs. (Intellimed International Inc.)
December 5, 1997... A Phoenix company has created an interactive web site that allows doctors and patients to compare quality and cost of health care services nationwide. Intellimed International Inc., which collects heath care data, has created a division to...

Phoenix coffee operations brewing in China. (Shanghai/Phoenix Coffee Trading Co.)
December 5, 1997... Shanghai/Phoenix Coffee Trading Co., incorporated in Arizona last year, has set up coffee roasting operations in China and is bringing the flavor of fresh coffee to hotels, restaurants and stores in Shanghai. While the company pursues...

Investment trusts keep real estate market hot. (Phoenix, AZ)
December 5, 1997... REIT assets in the Valley(*) as of September 30, 1997 Sector Value of assets Number of (in millions) properties Retail ...

Davis Selected Advisers opens office in Tucson.
December 5, 1997... Despite the tumultuous market, mutual fund companies are expecting continued growth through 2000 and Arizona's economy continues to benefit. Davis Selected Advisers is opening a service center in Tucson and has hired 20 people. A dozen more...

Digital Network Access targets new software.
December 5, 1997... Digital Network Access, an Internet service provider that entered the Phoenix market two years ago, has purged its management and hopes to recast itself as a web software maker. After a disappointing year, the privately held company has...

Abpac enters free-trade fray. (Abpac Inc.)
December 5, 1997... Phoenix chip packager Abpac Inc. has become the latest high-tech manufacturer to enter the ongoing dispute about Arizona's free trade zones. Despite a lawsuit that could torpedo property tax breaks given to trade zone beneficiaries,...

Deregulation solution stuck in the dark; utility executives discuss issues, but fail to find answers. (Arizona)
December 5, 1997... Arizona utility executives met this week with Valley business leaders to shed some light on electricity deregulation - but the only thing made clear is key issues still need to be resolved. On Jan. 1, 1999, 20 percent of Arizona customers...

Pacific Century seeks name recognition. (Pacific Century Bank)
December 5, 1997... Arizona's economy is booming, and so is the market potential for banks, but people have to know who you are before you can get their business. Pacific Century Bank, which until earlier this year went by the name First National Bank of...

Pipeline might benefit Arizona gasoline users. (Longhorn Partners Pipe Lines)
December 5, 1997... A Texas company has begun construction on a pipeline that will carry refined petroleum products from the Gulf Coast to Arizona. Ultimately, Phoenix gasoline suppliers will have more purchasing options and "that's probably good for consumers,"...

Oxford makes encore with Safe Mate purchase. (Oxford Life Insurance Co.)
December 5, 1997... Oxford Life Insurance Co. has made its second acquisition in six months. Oxford bought Safe Mate of El Paso, Texas, for $2.2 million. The transaction was announced earlier this week. Oxford is a wholly-owned subsidiary of Nevada-based...

US West programs help business track calls. (U S West Communications Inc.)
December 5, 1997... US West Communications has chosen Arizona to test two small-business products that track incoming phone calls. With Call Reports, small-business owners can pinpoint calls by area code, phone number and ZIP code. Most businesses can also track...

Ritz Camera Centers purchases Kits to create largest photo chain. (Kits Cameras Inc.)
December 5, 1997... Kits Camera Inc., the nation's third-largest chain of camera shops and photo finishing stores, has been sold to Ritz Camera Centers Inc., making it the largest photographic retail chain, with 810 retail outlets in 47 states. Both companies...

Riester intends to draw more national business. (Riester Corp.)
December 5, 1997... Riester Corp. is positioning itself to go after more national business with two key staff changes. First, the Phoenix ad agency promoted David Anderson to managing director from vice president/director of public relations. It then hired away...

Pair converts bad times to good. (Dick Roney and Bob Korman, MEGA Systems & Chemicals Inc. CEO and pres., respectively)
December 5, 1997... Their struggle might not evoke the epic clash or sweeping revolution described in James Clavell's historical novel Shogun, their favorite book. But for MEGA Systems & Chemicals Inc.'s two founders, becoming Arizona's second-fastest-growing...

Commercial brokerage soars. (Insignia Commercial Group)(Keys to Emerging Business)(Company Profile)
December 5, 1997... Insignia/ESG has been relatively unknown among Valley real estate brokerages, at least until this year. In May, the company grew from five to 22 people and doubled the amount of office space it leased, moving from 7,000 square feet on North...

November posted 55 losers, 22 winners.(Arizona Stocks)
December 5, 1997... Stocks in Arizona-based companies were dragged down by market jitters in November as 55 stocks declined while 22 managed gains. Shares in The Dial Corp. jumped to $19.38 at the end of November, from [TABULAR DATA OMITTED] $16.88 at the end of...