The Business Journal - Serving Phoenix & the Valley of the Sun articles from January 1996

The Business Journal - Serving Phoenix & the Valley of the Sun archives from January 1996

Apollo CEO to sell $37M in stock. (Apollo Group CEO John Sperling)
January 5, 1996... The founder of the University of Phoenix and his son each plan to cash in 1 million shares of the company's stock, worth a combined total of $73.5 million. John and Peter Sperling are joined by several high-level employees of Apollo Group...

Solid plan is firm's best defense. (Air Taser Inc.)
January 5, 1996... Debate and curiosity may surround Scottsdale-based Air Taser Inc.'s flagship product, but not many people can question the company's success. Air Taser Inc. was started by brothers Tom and Patrick Smith in October 1993 to develop a non-lethal,...

Semiconductor firms stealing chip workers. (Phoenix, Arizona)
January 5, 1996... The Valley's demand for thousands of semiconductor employees has led to the pilfering of workers from competitors, national searches and the scouring of local colleges for talent. Chip makers also are protecting their own turf with higher...

Regulation, taxes biggest target for businesses.
January 5, 1996... Regulatory reform divvying up $200 million in property tax cuts will have Arizona businesses, big and small, banging on the doors to the state Capitol in 1996. Several of the state's business groups say they will strongly back proposals in...

Study sought to urge end of service monopolies.
January 5, 1996... Deregulating the electric utility industry by prohibiting companies from holding monopolies in service territories is expected to generate electrified discussions when the Arizona Legislature convenes Jan. 8. One group intent on pushing through...

Small business sees numerous advances.
January 5, 1996... From cuts in state taxes and regulation to the White House Conference on Small Business, this was a record year for the Valley's small businesses. "The positive small-business climate has been building over the last four years, but it's really...

Competition, fewer rules heat up utility scene.
January 5, 1996... Mergers, deregulation, rate cuts, expansion. They all fueled Arizona's increasingly competitive utilities industry during 1995. The earliest indicator of more intense competition struck in February, when Atlanta-based Cox Communications Inc....

Emissions, CFCs top priorities in '95. (chlorofluorocarbons; Arizona)
January 5, 1996... The 1995 year in the environment began with Arizona's enhanced vehicle emissions-testing program for Maricopa County in January and ended at midnight Dec. 31 with a federal ban on chlorofluorocarbons, or CFCs. By the end of the year, the Air...

Fox quits job as ADEQ director. (Arizona Department of Environmental Quality director Ed Fox)
January 5, 1996... Arizona environment highlights of 1995 include: * After four years in the post, Ed Fox resigned effective Sept. I as director of the Arizona Department of Environmental Quality. Although he left spewing praise for his boss, Gov. Fife Symington,...

Arizona agricultural exports remain bright.
January 5, 1996... Arizona's agricultural exports in 1995 grew to $395 million, up $55 million from 1994 - and the future appears rosy as well, the Arizona Farm Bureau reported. "Revenues from the state's agricultural exports will increase for at least two...

CPAs forecast continued improvement in '96. (Arizona; certified public accountants)
January 5, 1996... Business conditions in Arizona are good and will continue to improve into 1996, according to 95 percent of more than 600 CPAs polled by the Arizona Society of Certified Public Accountants in its eighth annual year-end economic forecast. Nearly...

AZ adds record 16,400 workers in November. (Arizona)
January 5, 1996... Arizona employment broke records in November by realizing a net gain of 16,400 to the workforce and for the first time topping 1.8 million in total non-agricultural jobs. The Valley racked up 12,700 of that net gain, said Dan Anderson,...

Exec makes games his career. (Grand Canyon State Games executive director Erik Widmark)
January 5, 1996... "Erik is a guy that is driven to succeed." - Lanny Van Eman Erik Widmark called himself a "marginal" wide receiver when he played for the San Diego Chargers, but those who know and work with Widmark say there's nothing marginal about him....

Arizona stocks see 1.7% percent gain.
January 5, 1996... [TABULAR DATA OMITTED] [TABULAR DATA OMITTED] The Arizona Stock Index climbed just 1.7 percent in December, but outpaced the Dow Jones Industrials' performance, which rose 1.2 percent. The Arizona Index slipped behind gains notched by The...

Phoenix Suns sales sag with team's fortunes.
January 5, 1996... The Phoenix Suns are not alone in needing an assist as they enter 1996. Retail stores and ticket agencies that sell Suns merchandise could use one, too. Both groups cite the Suns mediocre record so far this season and fickle Phoenix fans as...

Texan shops Biltmore offices. (real estate developer Gerald Hines)
January 12, 1996... A nationally known developer with a reputation for putting landmark buildings in major cities is trying to develop the southwest corner of 24th Street and Camelback Road across from Camelback Esplanade, sources say. Houston developer Gerald...

Valley bags 350 jobs with Safeway move. (Safeway Stores Inc. moves to Phoenix, Arizona)
January 12, 1996... The country's third-largest grocery chain, Oakland. Calif.-based Safeway Stores Inc., decided Jan. 10 to move the company's accounting divisions from its six regional offices to Phoenix, bringing 350 new jobs to the Valley. Besides Phoenix,...

New foundation matching tech companies, cash. (Foundation for Technology Financing)
January 12, 1996... A new foundation will aid the flow of money to growing high-tech companies that often find bank vaults locked tight. The Foundation for Technology Financing is intended to educate the banking community about the needs of the high-tech industry....

Stock prices skyrocket in '95.
January 12, 1996... Investing in your own backyard was a winning strategy last year with an average 55.6 percent gain in Arizona stocks. Price per share of Arizona public company stocks shifted into fast forward in 1995 after losing an average of about 14 percent...

IPOs raise $236M for Arizona firms.
January 12, 1996... Ten Arizona companies contributed more than $236 million to a record $29 billion in new equity raised nationally through initial public offerings in 1995. It is expected that 1996 will be a stronger year in Arizona as local securities lawyers...

High-tech connections a must, survey decides.
January 12, 1996... The state needs to see that money is available and that private business takes a lead to ensure that all Arizona residents are wired into advanced telecommunications. That's the conclusion of a survey released this month by the International...

Buses going way out on advertising tests.
January 12, 1996... Phoenix city buses will be sporting two unusual new ads this year, including rolling dinnerware and football playoff odds that are changed weekly. TDI, the New York-based company that leases ad space on Valley buses, will be using Phoenix as a...

Trio set to guide bank into new interstate era. (Bank One Arizona's new management team)
January 12, 1996... A triumvirate of sorts is taking over leadership at Bank One Arizona as it completes a shift to regionalization and gears up for the full effect of interstate banking. Former Citibank Arizona head Michael Welborn has landed the top spot,...

Lifestyle magazine to debut in Phoenix. ('Glance' magazine)
January 12, 1996... Hoping to tap into the growing number of fashion and lifestyle-conscious baby boomers in Phoenix, Glance magazine is scheduled to start bimonthly distribution in March. A list of the new magazine's sections reads like many national women's...

Arizona tech-stock prices up 45 percent.
January 12, 1996... Arizona technology stock prices soared average of 45 percent last year and some analysts predict they may fly even higher in 1996 despite a glitch in the market this week. "This is going to be a big-time year," said Bob Kant, senior partner...

Intel, MicroAge using Bowl for exposure. (Super Bowl XXX)
January 12, 1996... The most significant sporting event Arizona has ever hosted is an enticing one to local corporations. Super Bowl XXX has encouraged organizations to share in the benefits offered through involvement in numerous events related to the NFL's...

Chip boss meets lofty challenges. (Microchip Technology Inc. production manager Kathy Clevenger)
January 12, 1996... If mastering a high-tech multimillion-dollar job that would boggle the mind of many humans has gone to Kathy Clevenger's head - she hides it well. At 32, Clevenger oversees the production of all chips made at Microchip Technology Inc.'s...

Lack of space hampers Valley's progress. (industrial and office space)(Focus: Real Estate & Development)
January 12, 1996... A lack of ready-to-go industrial and office space is hurting the Valley's economic development efforts, according to a white paper prepared by the Greater Phoenix Economic Council. The Valley's competitive position is losing ground due to the...

REIT future fuels debate. (real estate investment trusts)(Focus: Real Estate & Development)
January 12, 1996... As the nation's recovering real estate market continues to consolidate, whether that trend will be mirrored by the growing real estate investment trust industry fuels fierce debate. A REIT generally is a publicly traded company that manages a...

Low rates aid steady close for housing.(Focus: Real Estate & Development)(Industry Overview)
January 12, 1996... A strong statewide economy paired with a decline of mortgage interest rates allowed the resale housing market to close 1995 with a steady fourth quarter. The median price for a single family detached resale unit was $93,000 in the fourth...

'New' downtown draws potential residents.(Focus: Real Estate & Development)
January 12, 1996... Now that downtown Phoenix is undergoing a revitalization of jobs, entertainment and culture, more people want to live there, according to one city economic development specialist. Margaret Mullen, executive director of the Downtown Phoenix...

Retirement community development booming.(Focus: Real Estate & Development)
January 12, 1996... As baby boomers begin planning for retirement, larger numbers of Arizona developers will break ground on retirement communities, according to members of Arizona's homebuilding industry. "America is graying," said Martha Moyer, public relations...

Opus plans major office developments. (Opus Southwest Corp.)(Focus: Real Estate & Development)
January 12, 1996... Opus Southwest has taken a lead in the speculative commercial office market with plans to break ground this year on at least two and perhaps three major Class A office developments. The ongoing activity by Opus has led the Phoenix developer to...

Sperry Van Ness computerizes access to property info.(Focus: Real Estate & Development)
January 12, 1996... Brokers and agents at Sperry Van Ness, a Newport Beach, Calif.-based investment real estate firm with offices in Phoenix, have developed a unique companywide information network that allows electronic access to computerized property information...

Industrial space construction thrives in '95.(Focus: Real Estate & Development)
January 12, 1996... Construction of new industrial space thrived in '95 in the Valley with more than 4 million square feet completed or under way. "We're in the middle of a very healthful period [of industrial construction] right now," said Rick Robertson, partner...

Actions often can speak louder than words. (non-verbal communication as an essential for career success)
January 12, 1996... January is one of the busiest hiring months of the year for corporations, making this the perfect time to assess your personal image to prepare for any interviews that might come your way. Effective verbal communication skills are essential for...

Solving tenant, landlord disputes.
January 12, 1996... Disputes between landlords and tenants over money are not uncommon. Often the tenant under a commercial lease is required to pay various sums of money to the landlord in amounts to be determined in the future. Because the amounts to be paid are...

Employee Solutions hopes to raise $5.8 mil.
January 12, 1996... Phoenix-based staff leasing company Employee Solutions Inc. is anticipating a gain of about $5.8 million through the sale of 670,000 shares of stock to warrant holders. The shares now are held as warrants issued in past secondary offerings....

'Oval-all' Taurus, Sable have a lot to offer.
January 12, 1996... Lu: The Ford Taurus and Mercury Sable emerge with a ground-up, eye-commanding redesign for 1996 that again ups the ante for mid-size sedans. Vince: Functionally superior to their predecessors in almost every respect, the near-twins are...

ADFlex, WavePhore make acquisitions.
January 12, 1996... Two Valley technology companies - ADFlex Solutions Inc. and WavePhore Inc. - are starting the new year with major acquisitions. ADFIex acquired a division of Xyratex Ltd. of the United Kingdom for $56 million in cash, debt and stock....