The Business Journal - Serving Phoenix & the Valley of the Sun articles from July 1998

The Business Journal - Serving Phoenix & the Valley of the Sun archives from July 1998

All signs point to Moreno. (Arthur Moreno's rating as the highest-paid CEO in Arizona)
July 3, 1998... Arthur Moreno's company, Outdoor Systems Inc., had a banner year in 1997. And Moreno did, too, holding onto his title as top-paid CEO of Arizona-based public companies. Moreno's earnings totaled $3.07 million in salary and bonus last year....

New heart hospital draws heart. (Lutheran Healthcare Network's facility in Mesa, TX)
July 3, 1998... Lutheran Healthcare Network is joining a nationwide trend of building specialty heart hospitals with its $40 million proposed facility in Mesa. But the idea of a fourth heart hospital in the state is giving some health care executives...

Software group building clout. (Arizona Software Association)
July 3, 1998... The Arizona Software Association is opening an office in Park Central Mall next month, an appropriate move as it goes shopping for a new executive director and more capital for growth-stage companies. Joanne Carthey, the trade group's former...

JPI signs up at Rio Salado. (real estate developer)
July 3, 1998... If a Texas company's plans to invest $185 million in the East Valley's proposed convention center is a sign of things to come, supporters could find the footing to be a little firmer in the Rio Salado. JPI, a Texas-based residential developer,...

Phoenix officials mum on East Valley project. (Arizona)
July 3, 1998... Phoenix officials are staying cool, even in this July heat, when asked whether a proposed East Valley multipurpose convention center-stadium is bad news for the Phoenix Civic Plaza. "We haven't really focused on it, and we probably won't until...

Scottsdale firm expands newspaper Internet link. (Management Process Integrators Inc.'s acquisition of Eagle View Inc.)
July 3, 1998... Management Process Integrators Inc. (www.mpiinc.com) is hoping to move newspapers further into the electronic realm with a merger that adds an Internet employment listing application into its mix of products. The Scottsdale publishing...

Capitol Mall district seen ripe for development. (Phoenix, AZ)
July 3, 1998... A part of central Phoenix that for 40 years has been a nightmare for residents and businesses could become a developer's dream, say officials who are starting a new series of meetings on the issue. The no man's land is the Capitol Mall...

Travel firm just took off. (Tatum International Travel Inc.)(Company Profile)
July 3, 1998... Unlike the typical small business owner, Judy Noth of Tatum International Travel Inc. never straggled to get her company off the ground. "I didn't see any difficulties. It just came naturally," said Noth, who was born and raised in Israel....

Phoenix Memorial expands west. (expansion of PMH Health Resources Inc. into the West Valley, Phoenix, Arizona)
July 10, 1998... While the East Valley has been the hotbed for health systems over the past few years, officials have given the rapidly growing West Valley only lip service. Until now. PMH Health Resources Inc. has inked a deal with SunChase Holdings Inc. to...

D-backs expect skyrocketing results from BOB. (Arizona Diamondbacks; Bank One Ballpark)
July 10, 1998... The Arizona Diamondbacks expect their desert cash machine, Bank One Ballpark, to generate profits of $18.45 million on revenue of $108 million this season, further evidence that today's customer-friendly ballparks are pushing those that came...

New owners spur tune-up for Scottsdale's Rawhide.
July 10, 1998... A new future is planned for Rawhide, the north Scottsdale tourist attraction where the Old West comes to life. Country music shows and more shops and restaurants are included in plans being considered by Rawhide's new owner, Pinnacle Sonoran...

Chandler firm challenges giants for Internet action. (Evergreen Internet)
July 10, 1998... Evergreen Internet hopes to translate its success in the field of web design into its first off-the-shelf product, an application that will pit the company against Microsoft, IBM and other behemoths in the electronic commerce arena. The...

Phoenix station gets new owner, format. (North American Broadcasting Co. Inc.'s takeover of KCCF-AM)
July 10, 1998... Goodbye, Lionel Richie. Hello, Warren Buffet. Another competitor will enter the talk radio fray on Monday as North American Broadcasting Co. Inc. moves its offices to Phoenix and takes over KCCF-AM 1100, a 50,000-watt outlet that currently...

Chandler employs 1920s plan in city redo. (Chandler, Arizona)
July 10, 1998... A dream that could become Arizona's next landmark involves two figures from state history, a commitment to posterity and a need for more city revenue. The dream, nearly a century old, is recreating the intentions of Chandler city founder Dr....

Chandler works to lure more retail action. (Chandler, Arizona)
July 10, 1998... Wanted: Retailers to enliven central Arizona town. Must possess ability to attract customers during day and evening hours from across the region, and generate substantial revenue. Commonplace retailers need not apply. Consider it employer...

City plans $25M solution for Ahwatukee traffic. (Phoenix, Arizona)
July 10, 1998... Commuters who feel cornered in Ahwatukee - sometimes called "the world's largest cul-de-sac" - soon will have a new route to Interstate 10. The Phoenix City Council, using $25 million in federal money, plans to ease commuter headaches for...

Biopharmaceutical company gets financial shot in the arm. (Bionutrics Inc.)
July 10, 1998... Bionutrics Inc. has been trying to get a foothold in the developing market for health foods and it appears the Phoenix company is on the verge of a healthy recovery of its own. The biopharmaceutical company, founded to develop natural-source...

Banc One drops mortgage unit. (Banc One Mortgage Corp.)
July 17, 1998... Bank One Arizona has struck a deal with one of its chief rivals to ease the pain many companies suffer when they restructure after mergers. Banc One Mortgage Corp., the second-biggest mortgage lender in the Valley, is closing its processing...

Tourism's traps: makeover helps, more work needed. (marketing campaign for Arizona's tourism industry)
July 17, 1998... Revamped marketing efforts for the Valley's tourism industry are drawing applause though officials warn there is a lot more work to be done to get the industry growing again. At a time when Arizona's economy is booming, tourism is slumping....

Shea pushes senior living. (Shea Homes' plan to expand UDC Homes' adult-housing division)
July 17, 1998... Del Webb Corp. might have some serious competition for the retiree home buyer. Shea Homes, which last week announced its purchase of UDC Homes, plans to expand the UDC division that specializes in houses for senior adults. "We are really...

Agents see little effect from airline settlement. (travel agents; America West Airlines' $2.5 million settlement with Federal Aviation Administration)
July 17, 1998... News of America West Airlines' $2.5 million settlement with the Federal Aviation Administration did not send passengers scurrying for the emergency exits. The Tempe airline's chief executive officer, Richard Goodmanson, said customers did not...

Tech economy strong despite company layoffs. (Arizona)
July 17, 1998... Well-publicized layoffs and disheartening earnings reports by some of Arizona's largest technology manufacturers have yet to translate into job reductions in the sector as a whole, but economists aren't breathing easy yet. Slowdowns in...

Banker used to handling pressure. (Sun Community Bancorp Ltd. Chmn. Joe Reid)(Profile)
July 17, 1998... Executive enjoys community involvement Joe Reid grew up with great expectations. Far from being an orphan, like the central character in a Charles Dickens novel, he was the oldest of 12 children - and that carne with some obligations....

JHT Productions fishing for feature film, ad jobs.(Success Strategies for Small Business)(Company Profile)
July 17, 1998... JHT Productions hasn't always reeled in big corporate clients. The full-service film, video and CD-ROM production company in Tempe started as an editing bay for production of the fishing show, The American Angler. Now, JHT works with...

New airline takes flight to Grand Canyon. (Far West Airlines)
July 17, 1998... A business venture that would whisk Valley tourists to the Grand Canyon and back by air plans to take off this fall. From Phoenix, the Canyon is a four- to five-hour drive, making it tough to visit in a day. But Max Biegert, who owns Grand...

Alternative care gains momentum. (Health and Healingtrust of Arizona PA to provide alternative medicine insurance)
July 24, 1998... Alternative medicine has taken a giant step forward into the mainstream with the formation of a network including chiropractors, acupuncturists and massage therapists. Called Health & Healingtrust of Arizona PA, the discount network already...

Utilities feel heat: electric companies see record usage.
July 24, 1998... Sweltering temperatures are nothing new to the Valley, but electricity customers could suffer even more from a U.S. heat wave that is hiking wholesale power prices and congesting the system Arizona uses for transmission. "For a 10-day stretch,...

Welfare-to-work: how employers can make it successful.
July 24, 1998... As the welfare-to-work movement picks up speed, businesses are finding it's tough work matching recipients with jobs. The biggest challenges facing employers and employees are child care, job training and the Valley's limited transportation...

Merger puts major Six Sigma player in Valley. (Six Sigma International merges with Marshall-Qualtec Inc. to become Six Sigma Qualtec)
July 24, 1998... A merger between two consulting companies has created one of the nation's largest firms teaching a controversial method it claims will nearly perfect a company's products. Six Sigma International has joined forces with Marshall-Qualtec Inc. to...

Motorola boosting R&D through joint ventures. (Motorola Inc. partners with Lucent Technologies Inc. and Advanced Micro Devices Inc.)
July 24, 1998... Motorola Inc. is providing glimpses of its comeback strategy by announcing joint ventures designed to stretch its research budget and speed up product development. Experts say market conditions are forcing the wireless communications and...

Peter Piper cooking up expansion plans. (Peter Piper Inc.)
July 24, 1998... Peter Piper Inc.'s plans for 1998 have changed slightly, with the Phoenix pizza chain delaying expansion into Florida while still entering new markets. Earlier this year, Peter Piper chairman and chief executive C. Ronald Petty said the...

Mutual fund targets firms with strong social record. (Citizens Fund)(Company Profile)
July 24, 1998... There are five Arizona companies that you can invest in with a clear conscience, according to Citizens Fund, but local investment professionals say most people are.more interested in financial returns. Viasoft Inc., Dial Corp., Microchip...

DMB markets portfolio of 1 million square feet. (DMB Associates Inc.)
July 24, 1998... A prominent Valley development company, fresh from selling its share of UDC Homes Inc., now is marketing a portfolio of office buildings. By late this year, DMB Associates Inc. hopes to sell several Valley office buildings totaling 1 million...

Gilbert booms as East Valley urban center. (Gilbert, AZ)
July 24, 1998... Hello world it's Gilbert - one of the fastest growing cities in Arizona. Founded in the 1890s, Gilbert was a growing frontier where townfolk met at the "Oakie Hop" to jitterbug on Saturday nights. According to historians, it was named after...

Backyard entrepreneurs expand technology firm. (MicroSupply Inc.)(Company Profile)
July 24, 1998... Behind every suburban garage door, a fledgling high-tech company was poised to take over the world. Or so it must have seemed in the 1980s, when the founders of Microsoft and their geeky brethren launched a revolution that still reverberates...