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

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

UDC faces $70.5 million deficit. (UDC Homes Inc.)
June 6, 1997... Homebuilder digging out of hole left from bankruptcy, prior management Starting over is never as easy as it looks. A year and a half after buying it out of Chapter 11 bankruptcy, UDC Homes' owners are staring at a deficit of more than $70.5...

Catholic Healthcare West in driver's seat of '50-50' deal.
June 6, 1997... The proposed merger between Catholic Healthcare West and Samaritan Health System is being touted as a 50-50 partner ship. That theme was reiterated Tuesday when the two health systems announced a 50-50 steering committee for the newly named...

Infinisys closes, 100 lose jobs. (Infinsys Inc.)
June 6, 1997... Infinisys Inc., a Phoenix computer networking company best known for buying the original MicroAge franchise, has gone out of business. The company discontinued operations at the end of May, laying off about 100 employees, and now many of them...

Finance firm eyes Scottsdale. (Green Tree Financial Corp.; Arizona)
June 6, 1997... Green Tree Financial Corp. of Minneapolis, which recently opened an operations center in Tempe, is looking to build a 150,000-square-foot regional headquarters that will employ about 250 people. Although the company has been searching sites...

AirEvac sale will fly; buyer not revealed. (Samaritan AirEvac)
June 6, 1997... Samaritan Health System has signed an exclusivity and nondisclosure agreement with an undisclosed buyer to sell off its $32 million air ambulance business. Because of the nondisclosure agreement. Samaritan officials won't name the potential...

A touch of Beverly Hills moves into Arizona Mills. (Tempe, Arizona mall)
June 6, 1997... After months of keeping their development plans fairly under wraps, owners of the Arizona Mills mall in Tempe are finally cracking the door when it comes to detailing the tenants that are on their way to the massive mall. The 1.5...

PetSmart to sniff out new ad shop. (PETsMART Inc.)
June 6, 1997... After blaming lower-than-expected first-quarter results in part on an unsuccessful advertising strategy, Phoenix-based retail pet-supplies giant PetSmart Inc. is putting its $25 million ad account - easily one of the largest pieces of advertising...

GPEC director plays hardball with shirkers: Chandler, Glendale, Tempe may renege on commitment. (Greater Phoenix Economic Council Dir. Mark DeMichele)
June 6, 1997... The ball started rolling when the city of Chandler refused to grant the Greater Phoenix Economic Council a 40 percent increase in funding. Now, it appears, other cities are following suit. Tempe has refused to grant GPEC's requested rate...

City agrees officers need 'to-from work' coverage. (Phoenix, Arizona; police officers)
June 6, 1997... An end may be in sight in the bitter dispute between the city of Phoenix and the police union over providing benefits to the families of officers killed while traveling to and from work, officials said. Saying there needs to be a speedy...

Convention chief intense worker. (Phoenix and Valley of the Sun Convention and Visitors Bureau Pres./CEO David Radcliffe)
June 6, 1997... David Radcliffe is an intense individual. Ask just about anyone who knows him. "Intense is a great word" to describe Radcliffe, president and chief executive of the Phoenix & Valley of the Sun Convention & Visitors Bureau, said David...

Hanging on the line. (Arizona Corporation Commission)
June 6, 1997... Corporation Commission in the hot seat to set phone-service prices When President Clinton signed into law sweeping changes to the nation's telecommunications act, advocates predicted lower prices, better service and a host of new consumer...

The need for speed. (used computer equipment)
June 6, 1997... Bargains can be had buying used computer equipment Each day small-business owners buy thousands of dollars worth of computer equipment only to find they could have done the job with a little older technology and for less money. While some...

Samaritan spends $55 million to link patients. (Samaritan Health System)
June 6, 1997... Imagine having all of your medical records electronically recorded all in one place so that you don't have to fill out the same medical questionnaires when you go to different doctors or your local hospital. Sound farfetched? It's not too far...

Construction tracking service built into new financing firm. (The Critical Edge Group)
June 6, 1997... A new firm in the Valley is combining financing and construction services under one roof. The Critical Edge Group, which opened in November, augments its real estate financing with services that track the progress of construction projects and...

UDC salaries grow slimmer. (UDC Homes Inc.)
June 6, 1997... The new management team behind UDC Homes is going without the royal treatment once afforded to some. Garth Wieger, chief executive and president, earned $400,000 in 1996 salary and bonuses, about half that of his predecessor. Chief financial...

Chandler bags new center. (new retail center planned at Chandler, AZ)
June 13, 1997... $8 million in incentives wins 1 million square feet of retail A Chandler parcel once targeted to support the Arizona Mills project now will be developed with a $20 million retail power center, a Ford dealership, a Sam's Club warehouse store, a...

Margaret Mullen bids downtown Phoenix 'adios.' (Downtown Phoenix Partnership executive director to step down from post at the end of term)
June 13, 1997... Margaret Mullen, executive director of the Downtown Phoenix Partnership, plans to leave her job and move out of town. Mullen says she has 18 months left on her contract, and has decided not to seek renewal. Her decision comes as the...

BFI Arizona hauled off. (USA Waster Services Inc. acquires Arizona operations of Browning-Ferris Industries Inc.)
June 13, 1997... USA Waste Services Inc., a Houston recycler and solid-waste collections and disposal company, has acquired the 700-employee Arizona operations of Browning-Ferris Industries Inc. There has not yet been an official acknowledgement of the deal,...

Universities may sever ticketing deal with Dillard. (Arizona State University; University of Arizona; Dillard Ticketing System Inc.)
June 13, 1997... One of two heavy hitters in the local ticketing arena may be seeing some of its highest-profile contracts in Arizona disappear. At least two major clients of Dillard Ticketing System Inc. - Arizona State University and the University of Arizona...

Students sell concept for pay-as-you-surf Internet. (InLight Inc.)
June 13, 1997... Scottsdale-based InLight Inc. wants to prove that you don't need business experience, a proven market or even a college degree to become a successful entrepreneur - all you need is a chance. The company - conceived in spring 1996 by two college...

Arizona job growth 2nd in nation.
June 13, 1997... Arizona ranked No. 2 - with more than a 30 percent increase during a five-year period - in employment, as western states continue to set the pace for post-recession job growth. According to an American City Business Journals report, based on...

Audio-visual wizards swept up in second sale. (Baker Audio Visual Inc. acquired by Caribiner International Inc.)
June 13, 1997... The local office of Bauer Audio Visual Inc. is gearing for a second takeover in as many years. Bauer's owners in Dallas agreed last month to be bought by Caribiner International Inc. in a $26.3 million deal. The acquisition is expected to...

'Dean of high-tech' devoted to law. (Jack Brown, founding partner of Brown and Bain PA)
June 13, 1997... In an industry dominated by baby-faced millionaires, gee-whiz theatrics and breakneck change, Jack Brown's contributions are sometimes easy to miss. But behind his relaxed smile and soft-spoken demeanor, the 70-year-old Brown & Bain patriarch...

By trial and error. (Arizona to certify dispute mediators)(includes related article on alternative dispute resolution)(Law Trends)
June 13, 1997... Arizona's mediators now must be certified The Arizona Dispute Resolution Association is moments away from agreeing on a statewide certification process, based on performance, to accredit those who practice the traditionally grassroots-style of...

Law expected to put employee suits to rest. (Arizona to implement new 'constructive discharge' law)(Law Trends)
June 13, 1997... People who quit their jobs because of what they consider intolerable conditions won't be able to run off to court and sue quite as quickly or easily as they could in the past, under a state law that becomes effective next month. Before taking...

Shea & Wilks to vacate landmark office tower.(Law Trends)
June 13, 1997... Shea & Wilks will leave the office it has occupied for the past 66 years and move into the Wells Fargo plaza at the end of this month. The law firm moved into the landmark office building at 114 W. Adams St. in downtown Phoenix in 1931. The...

'Mom-pop' pharmacists rattle big chains. (Medical Arts Pharmacy Inc.)(Company Profile)
June 13, 1997... In a sea of large retail chains that have been swallowing up independent operators for years, the mere fact that Mesa-based Medical Arts Pharmacy still is in business is notable. But what's even more interesting is that the family-owned...

City mulls impact of electric deregulation. (Phoenix, AZ)
June 13, 1997... Two years and counting: the city of Phoenix has issued a report to City Council members that outlines its options and the tax implications of electric deregulation. The report doesn't specify what impact deregulation will have on residential...

Phelps Dodge CEO delivers top dollar. (salary and benefits of Douglas Yearley)
June 27, 1997... Justifying the high costs of executive pay is a hot topic these days, and The Business Journal has put the state's highest priced CEOs of publicly traded companies to the test. For the second year in a row, Douglas Yearley, chairman, president...

Tech chiefs see biggest pay cuts. (high-tech industry officials)
June 27, 1997... They may have taken home some of the biggest paychecks, but for the top officials in several of Arizona's most prominent high-tech companies, industry volatility also meant hefty pay cuts this year. Top officials at technology-related firms...

Valley sparks interest from utilities. (Arizona)
June 27, 1997... Arizona is beginning to buzz with new electric utility companies as those with designs on a national presence continue to plant regional marketing offices here. At least eight electric utility companies have established regional offices in the...

APS donates murals depicting history of Phoenix. (Arizona Public Service Co.)
June 27, 1997... Arizona Public Service Co. is donating a group of historic murals to the Mesa Southwest Museum. The artworks by Jay Datus, a painter in Phoenix during the 1950s, were salvaged from the company's former headquarters at 411 N. Central Ave. in...

Assisted-living housing takes Valley marketshare. (Arizona)
June 27, 1997... Arizona's nursing homes are losing many of their patients to the plethora of assisted-living facilities being built in the state. "It's definitely had an impact on us," said Paul Friedlan, president of the Arizona Health Care Association....

AZ stocks underperform in '96. (stock prices)(Corporate Arizona)
June 27, 1997... Revenues increased for more than three-fourths of Arizona's public companies. Of the 86 public companies covered in Corporate Arizona, 74 showed revenue gains in fiscal 1996. AZCO Mining Inc.'s '96 revenues of $26.9 million, up from...

AZ firms using IPOs to fund growth. (Arizona; initial public offerings)(Corporate Arizona)
June 27, 1997... More Arizona companies jumped on the public markets bandwagon in 1996 to fund growth amid the state's record economy. "Phoenix's market for public companies has made huge strides in the last seven years," said Michael Dwyer, managing director...

Rave reviews for new GPEC chief. (Greater Phoenix Economic Council CEO Rick Weddle)
June 27, 1997... The people of Toledo, Ohio, have nothing but great things to say about Rick Weddle, the successor to Ioanna Morfessis who takes over the helm of the Greater Phoenix Economic Council on Aug. 1. "We have been very impressed and supportive of Rick...

Twist of faith finds SpeedFam's Farley. (SpeedFam International Corp. CEO John Farley)
June 27, 1997... The word "entrepreneur" usually brings to mind images of a driven individual who dreamed up an idea for a company, scraped together enough cash to make it a reality, and started a bare-bones operation in the garage that today is flourishing....

Balch's home-based business emerges on top. (RB Balch & Associates Inc.)
June 27, 1997... Most people aren't thankful when they're fired from a job they've held for several years, but more and more people are turning that situation into a positive by giving the entrepreneurial inklings in the back of their minds a shot. Rochelle...

Dentist teaches how to pull profits. (Center for Professional Development and Training co-owner Michael Schuster)
June 27, 1997... Dr. Michael Schuster, who co-owns Scottsdale-based Center for Professional Development and Training with his wife, Jo Ann, admits he was "frustrated and lost" in the early 1970s. Frustrated and lost in his dentistry practice, however, not on...