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

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

Microtest threatens to leave city. (Phoenix, AZ)
March 7, 1997... One of the Valley's most prominent high-tech companies is in the middle of an old-fashioned land dispute, and the fallout may leave Phoenix with claim to one less corporate headquarters. Officials with computer networking company Microtest Inc....

Will departure of Morfessis hinder GPEC? (Greater Phoenix Economic Council CEO Ionna Morfessis)
March 7, 1997... The Greater Phoenix Economic Council has reached a crossroads. President and chief executive officer Ioanna Morfessis, who often has been thought synonymous with the organization, is leaving to take a similar position in economic development in...

House approves statewide wage-hike bill. (Arizona)
March 7, 1997... In a case that's being watched nationally for the precedent it may set, a coalition of Arizona business groups won a crucial victory this week in their battle to silence efforts to raise the minimum wage on a city-by-city basis. House Bill...

Deal maker knows victory, defeat. (Eller Media Corp. CEO Karl Eller)
March 7, 1997... "... your successes are not nearly as important as your failures, because that's what you learn from." Karl Eller's life is a lot like the opening to that sports show that dramatically illustrates the difference between the thrill of victory...

Change forces cuts in emergency care.(Health Trends)
March 7, 1997... Medical supply company seeking to bill patients Good Samaritan Regional Medical Center no longer will provide medical supplies for pre-hospital care, which could mean patients arriving by ambulance will get a separate bill for those charges....

Meeting challenges brings success to staffing company. (Staff One Search)(Company Profile)
March 7, 1997... Ask Ronni Anderson what the most difficult challenges are about running a small business. She'll tell you. She'll also tell you her marketing strategies, revenue, clients, plans for the future and what happens on the best days. "People get so...

Tempe gets retail center. (Arizona State University establishes Tempe Center)
March 14, 1997... The gateway to Arizona State University soon could have a new face as officials prepare to redevelop a retail project known as Tempe Center at the southeast corner of Mill Avenue and University Drive. The 10-acre tract, which is owned by ASU,...

Desert Ridge land up for sale. (Arizona Land Department auctions Phoenix, AZ's Desert Ridge community)
March 14, 1997... In a deal that's expected to cash out at an exorbitant price, the Arizona Land Department is about to bring another 535-acre parcel to auction within the Desert Ridge master-planned community in north Phoenix. Although an auction dote hasn't...

Downtown scoped for neighborhood complex. (Columbus Realty Trust plans to construct new apartment building in Phoenix, AZ)
March 14, 1997... A Dallas-based apartment builder known for creating neighborhoods out of inner-city streets is looking to downtown Phoenix as the spot for its newest project. City officials confirmed this week that Columbus Realty Trust has been scouring the...

Doctors question competence of hospital CEO. (executive committee evaluates CEO of Phoenix Children's Hospital)
March 14, 1997... The executive committee of the medical staff at Phoenix Children's Hospital has given the hospital's chief executive a vote of "no confidence." The reasons behind the vote against president/CEO Leland Clabots are murky; doctors at the hospital...

PhyMatrix delivers slap in face to Microtest Inc.
March 14, 1997... In a move even economic development advocates are calling a slap in the face, representatives from PhyMatrix Corp. have agreed to discuss a controversial development project that Microtest Inc. officials say will drive it out of Phoenix, but only...

Bankruptcy blame put on golf course design. (Pohlcat Mountainview Golf Course owners file for Chapter 11 bankcruptcy protection)
March 14, 1997... Owners of Pohlcat Mountainview Golf Course, a 275-acre, 36-hole Valley facility, are filing for Chapter 11 bankruptcy protection from creditors, and they lay full blame on the course's designer, Valley-based PGA golfer Dan Pohl. Pohl, who...

Mandated health options defeated on third read. (members of Arizona House of Representatives vote against HB 2170)
March 14, 1997... Small-business interests celebrated the defeat of a bill this week that many believed would have hiked their already-burdensome health insurance rates. However, supporters of the bill say they are not abandoning their efforts just yet. Hb...

Arizona's attraction dissected in survey. (Phoenix, AZ's tourist spots)(Arizona Money: The Complete Guide to Small Business Financing)
March 14, 1997... Phoenix may once have been viewed as a vast desert wasteland, but its image is changing fast. And as people's perception of the Valley broadens, so too must the promotion dollars the tourism industry spends on selling the state. A recent...

Outlook good for finding capital. (Arizona small business financing)(Arizona Money: The Complete Guide to Small Business Financing)
March 14, 1997... Access to capital is on an upswing for Arizona businesses. Early fiscal 1997 saw the state continue its climb in government-guaranteed lending. A record 262 loans for a total $78 million were backed by the Arizona office of the U.S. Small...

Four Seasons hotels enter vacation-ownership field. (Four Seasons Hotels Ltd.)
March 14, 1997... Four Seasons Hotels Ltd., headquartered in Toronto, has jumped onto the vacation-ownership bandwagon, striking a deal with the Miami-based Interval International exchange network. There's no word yet on whether Four Seasons, which has plans to...

Get through the financing maze. (business financing management)(Arizona Money: The Complete Guide to Small Business Financing)
March 14, 1997... In financing, there isn't any one way to go. An owner of a company with financial needs will first decide between debt financing - borrowing the money - and equity financing, which raises cash in return for an ownership stake in the business....

Fed procurement dollars for women drop $70M in '96. (women-owned business establisments)
March 14, 1997... WASHINGTON - Changes in the federal procurement policy are having a dampening effect on women-owned businesses. An analysis by The Business Journal of the distribution of federal procurement dollars shows women-owned businesses received almost...

Credit line smooths out big wrinkles. (working capital management)(Arizona Money: The Complete Guide to Small Business Financing)
March 14, 1997... Growth is the goal of most companies, but it also comes with a price - and a working capital loan is often one of the best ways to help keep the cost of that growth in check, as owners of Phoenix-based Biomedic Clinical Care learned. President...

Builder banks on name. (real estate loan manangement by Hancock Homes)(Arizona Money: The Complete Guide to Small Business Financing)
March 14, 1997... When Greg Hancock decided to leave Hancock Homes, he knew he wanted to start another homebuilding operation that would keep both him and the "family name" active in the market. Perhaps no one, even Hancock himself. expected that he would have a...

International financing.(Arizona Money; The Complete Guide to Small Business Financing)
March 14, 1997... What is it? There is a special set of financing options to help businesses secure and fund orders from companies in foreign countries. Choosing the right type of international trade financing can make or break a deal, so it is important to...

Treadway dives into international arena. (Treadway Industries Inc.)(Arizona Money: The Complete to Small Business Financing)
March 14, 1997... Owners of Treadway Industries of Phoenix have learned about international financing the hard way - they figured it out as they went along. "I didn't know anything about international finance, but we decided we wanted to step up our presence...

Phoenix firm finds its match in bank. (bank loan management by Phoenix Heat Treating Inc.)(Arizona Money: The Complete Guide to Small Business Financing)
March 14, 1997... Bank loans can be a tough thing for a small business to get, and sometimes it gets even tougher when you need them most, as owners of Phoenix Heat Treating Inc. have learned. The company, which has been around since 1963, had built itself up to...

This 'deal junkie' usually a winner. (Eddie Lynch, co-manager of Westcor Partners, Phoenix Suns, Arizona Diamondbacks and Lynch-Marsh LLC)
March 14, 1997... Life has been one big game for Eddie Lynch - both on and off the field. That's how close friend and sports mogul Jerry Colangelo describes his long-time business partner, a man who is winning at a real-life game of "Monopoly." Lynch is...

SBA programs. (US Small Business Administration loans for Arizona's small business enterprises)(Arizona Money: The Complete Guide to Small Business Financing)
March 14, 1997... What is it? U.S. Small Business Administration loans are federally backed loans for small businesses and usually range from $100,000 to $750,000. The SBA guarantees between 70 percent and 90 percent of the loan. Lenders can continue to...

Tripaper finds financial help through SBA. (Triggiano Enterprises Inc.; US Small Business Administration)(Arizona Money: The Complete Guide to Small Business Financing)
March 14, 1997... Vito Ancona started his company, Triggiano Enterprises Inc., in 1991 with a $55,000 second mortgage on his house. Since then, he has moved twice into larger facilities and closed out 1996 with $9.5 million in sales. And on the road to growth,...

SBA options go beyond loan-guarantee program. (US Small Business Administration loan programs)(Arizona Money: The Complete Guide to Small Business Financing)
March 14, 1997... In addition to its loan-guarantee programs, the U.S. Small Business Administration offers a number of specialty and advocacy programs. More information is available from the SBA office in Phoenix: Arizona District Offices 2828 N. Central...

Surfing the next wave: turning to specialization becomes the norm. (Arizona's accounting firms)
March 14, 1997... Recently, the accounting firm of McGladrey & Pullen LLP was trying to sell its services to a local radio station, the first time personnel in the firm's Phoenix office would be handling such an account. But that didn't stop it from persuing...

Factoring lets aircraft repair firm take flight. (Arizona Rotorcraft Inc.)(Arizona Money: The Complete Guide to Small Business Financing)
March 14, 1997... Factoring has been a financial lifeline for Linda Lang and her 5-year old Mesa-based business, Arizona Rotorcraft Inc. Lang started the company, which repairs and overhauls rotary-wing aircraft components, in 1993. She quickly became certified...

Accounting trends point to women, family issues. (Arizona Society of Certified Public Accountants)
March 14, 1997... Three new committees have sprung up from the membership of the Arizona Society of Certified Public Accountants over the past several years, pointing to trends in the profession. Growing and reaching beyond the profession to the community are...

Equipment financing.(Arizona Money: The Complete Guide to Small Business Financing)
March 14, 1997... What is it? Equipment leasing is exactly that - financing for companies that want to lease equipment rather than buy it. Transactions range from a few thousand dollars worth of equipment, such as fax machines, to multi-million-dollar...

Public/private offerings. (sale of company equity securities)(Arizona Money: The Complete Guide to Small Business Financing)
March 14, 1997... What are they? Public and private offerings are a method of creating capital through the sale of a company's debt or equity securities to the investment public, a process that generally requires approval from the U.S. Securities and Exchange...

Venture capital.(Arizona Money: The Complete Guide to Small Business Financing)
March 14, 1997... What is it? A fund put together by financial managers with a knack for ferreting out high-risk but potentially high-reward investments, commonly associated with technology-related companies. Venture capitalists are not lenders, but typically...

More money sources for firms.(Arizona Money: The Complete Guide to Small Business Financing)
March 14, 1997... There are other types of financing that may suit a company's needs over more traditional sources. Franchising Through franchising, a business can get money by transferring the rights to conduct business under its trademark. The two...

Money sources go beyond banks. (business financing)(Arizona Money: The Complete Guide to Small Business Financing)
March 14, 1997... While the quest for financing often ends at a bank or financing company, the best place to start may be at one of the government or nonprofit groups. Programs offered by such groups are typically designed to fund business projects that will...

Emphasis on quality puts hat firm on top. (Atlas Headwear Inc.)
March 14, 1997... Although Atlas Headwear Inc. was started in 1978, the company put on a whole new face when it moved its headquarters to the Valley in 1992. Atlas, which custom designs and embroiders all kinds of caps and hats. had built itself up to $11...

Sales managers' success requirements tough. (sales management)
March 14, 1997... Stop managing, start leading. Sales managers beware. No one wants a manager, but everyone wants a leader. If you think about it, there are great world leaders, but no great world managers. There is one universal misconception among every bad...

Consider hiring chronologically advantaged. (hiring over-50 workers)
March 14, 1997... When he was 55 years old, Peter Martin retired from the accounting department of a Fortune 500 company. He retired with a substantial pension, good medical benefits, and a passion for golf. After three years of retirement, his passion for golf...

Business plans map your growth. (small business management)(Arizona Money: The Complete Guide to Small Business Financing)
March 14, 1997... The Arizona Department of Commerce estimates that nearly 410,000 businesses are operating in the state, which works out to about one business for every 11 Arizonans. At the close of 1996, Arizona had 409,444 businesses. Fewer than 1 in 200...

Finance fraud rips off business owners. (business financing management)(Arizona Money: The Complete Guide to Small Business Financing)
March 14, 1997... Getting a business started takes money, usually lots of it. Many entrepreneurs tap their savings accounts or cash in some stock to get started. Some mortgage their homes or hit up a rich uncle. Still others visit their credit union,...

AlliedSignal targeted by Teamsters. (AlliedSignal Inc.)(Unions Take Aim at Arizona)
March 21, 1997... The International Brotherhood of Teamsters is targeting AlliedSignal Inc, employees in its latest efforts to unionize more Phoenix-area workers, a trend some say could obliterate one of the state's strongest economic draws. Homer Collum, an...

AFL-CIO set for big push.(Unions Take Aim at Arizona)
March 21, 1997... Labor unions, which have not been known to have a strong voice in Arizona, have been flexing their local muscle with more fervor recently, even breaking into industries that have resisted in the past, such as the medical field. And local union...

St. Joe's union bid sparks nurses' interest statewide. (St. Joseph's Hospital and Medical Center)(Unions Take Aim at Arizona)
March 21, 1997... As Teamsters union organizing efforts at St. Joseph's Hospital & Medical Center have become increasingly visible, nurses from hospitals across Arizona have begun asking for help in unionizing. "We've had calls from just about every hospital in...

Threat forces hospital quiet zone. (Phoenix Children's Hospital)
March 21, 1997... It was like pulling teeth, trying to find out why Phoenix Children's Hospital chief executive Leland Clabots wound up on the wrong end of a vote of "no confidence" earlier this year. Medical staff doctors really didn't want to talk to The...

Business community key to welfare jobs. (Arizona)
March 21, 1997... Today's panacea for poverty is employment. By the end of September, more than 9,000 Arizona welfare recipients will need to be employed. If not, the state faces a possible $11 million embargo on federal welfare assistance funds. However,...

New APS chief sparks confidence. (Arizona Public Service Co. Pres./CEO William Post)(Company Profile)
March 21, 1997... William Post has taken the reins of Arizona Public Service Co. as the electric industry's wild ride toward deregulation gains momentum. "There are going to be as many changes in the next three years at APS as there have been in the last 100 in...

Pulse of the community. (InfoMation Research Technologies Inc.'s computerized polling system)
March 21, 1997... Scottsdale software firm creates cost-efficient computerized polling system It doesn't promise to make everyone as popular as shock jock Howard Stern, but a Phoenix company hopes to bring market research to the masses with a computerized...

Index high-tech 4th-quarter sales off 31%. (Arizona's high-technology companies)
March 21, 1997... The last three months of 1996 were a mixed bag for Arizona's publicly held technology companies, with firms listed in the The Business Journal's Technology Index posting aggregate losses of $23.2 million, compared with earnings of $7 million...

Home-based business furnishes this success. (V&S Enterprises LLC)
March 21, 1997... At age 45, Valley small-business owner Mary Vaugier says she's having the best time of her life. Her 2-year-old hospitality and health-care furnishings company, V&S Enterprises LLC, is booming and the three-person firm is poised for success....

Samaritan pulls plug on senator. (contract between Samaritan Health System and Sen. Tom Patterson)
March 28, 1997... Samaritan Health system is yanking away an emergency department contract from state Sen. Tom Patterson, R-Phoenix in a move that may cost him a third of his business. Patterson, who says he would like to run for governor, is fuming over the...

Club Med does Scottsdale; corporate headquarters sets sail for Valley of the Sun.
March 28, 1997... Club Med officers claim otherwise, but local economic development officials say the worldwide resort and travel club is in the process of moving its North American corporate headquarters to Scottsdale. Club Med, which operates resorts across...

New York partnership sells stake in Sunrise preschools. (investor Lepercque Capital Management; Sunrise Educational Services Inc.)
March 28, 1997... Sunrise Educational Services Inc. has lost its biggest outside investor. Lepercq Capital Management, Sunrise's only institutional investor, has sold off its 30 percent stake in the company. The investment was held for the past six years in...

Republic fires first shot in east Valley press war. (Arizona Republic)
March 28, 1997... For perhaps the first time, the Valley is playing witness to a good old-fashioned daily newspaper war. The competing Arizona Republic and east Valley-based Tribune newspapers, who always have kept a wary eye on what the other was doing, are...

Fresh NetSoft sues over securities probe.
March 28, 1997... The Arizona Corporation Commission is investigating a private securities offering made by Fresh NetSoft Inc., and the Mesa-based software company is suing to stop the probe. The agency is looking into a 1.25 million-share stock offering made...

Comet-happy customers make run on telescopes.
March 28, 1997... For some retail stores in the Phoenix metropolitan area, business is looking up, literally. Hundreds of people each night have been looking skyward to get a glimpse of the Hale-Bopp Comet as it passes Earth. Many have dug their telescopes out...

Valley duo finds home with Ohio homebuilder. (Arizona executives Gary Haarer and Ted Schmiedeke; M/I Schottenstein Homes Inc.)
March 28, 1997... A huge public homebuilding company is breaking into the Valley's competitive market, investing substantial resources in plans to expand with the help of two local industry veterans. Columbus, Ohio-based M/I Schottenstein Homes Inc., which bills...

Lender takes aim at top market position. (Countrywide Credit Inc.)
March 28, 1997... Countrywide Credit Inc. is making a push into the Phoenix market with plans to overtake Norwest as the No. 1 lender of single-family mortgages in Arizona. As part of the overall effort, the company has entered a four-year agreement to sponsor...

Italian eatery franchise offers fast-serve version. (Cucina! Cucina!)
March 28, 1997... Following an increasing trend of fast-serve Italian diners that have been popping up across the Valley, owners of Seattle-based Cucina! Cucina! will be expanding in the market with a scaled down, fast-serve version of their restaurants. Bill...

Thomas-Davis, physicians spat heats up over union. (Thomas-Davis Medical Centers)
March 28, 1997... Fear of a physician strike and a potential vote of "no confidence" aimed at the president of Thomas-Davis Medical Centers in Tucson are fueling a battle between union doctors and company owners. Consider: * The Federation of Physicians and...

Billions of reasons to compete for Games. (Olympic Games)
March 28, 1997... Community pride, exposure and dollars (billions of 'em). All are explanations for a recent influx of U.S. and foreign cities competing for the opportunity to host the Olympic Games and other world-wide events. The myriad of economic and social...

SunAmerica University preps brokers for competitive edge.
March 28, 1997... With firms such as Charles Schwab and Vanguard expanding into the Valley, one local brokerage is wary of increased competition for new hires. "To find people who are licensed and trained to do the work at the home office - that labor pool is...

Golf-homes foresight shoots par. (real estate developer Lyle Anderson)
March 28, 1997... "I didn't want to work for a company. I wanted independence." When Mark Twain said, "Golf is a good walk spoiled," it's clear he never envisioned what someone like Lyle Anderson was capable of doing. The force behind the exclusive Desert...

The boys of spring: Valley scores huge win from Cactus League economics.
March 28, 1997... Several times a week in March, a restaurant called Carvers in the west Valley gets an early rush for dinner. Much of the crowd - which accounts for nearly 20 percent of overall business - comes from baseball fans exiting the Peoria Sports...

Cartons used as building blocks to success. (Canyon State Box and Container Inc.)(Company Profile)
March 28, 1997... Aaron Eggleston, 24, has turned a childhood interest - playing with boxes - into a growing business in Tempe that he hopes will bring in $2 million in sales this year. Eggleston runs Canyon State Box and Container Inc., a firm he started when...

'Selling tea to China' is not that different.
March 28, 1997... Business in Arizona is reaching far and wide beyond the state's borders with remarkable success. At the same time, foreign corporations, including Sumitomo Sitix and British Airways, are finding a fertile field in Arizona for their expansions....