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

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

Avnet packs major punch. (Avnet Inc.; Phoenix, Arizona)
March 6, 1998... Between real estate employment opportunities and economic impact, Avnet's arrival in Phoenix could deliver an economic wallop unlike anything the Valley has seen in recent years. The company, one of the world's largest distributors of...

Valley resorts adding spas as timely face lift. (Arizona)
March 6, 1998... A number of Valley resorts are taking advantage of the wellness trend and the aging baby-boom population by adding or upgrading spas. The Boulders Resort in Carefree and the Radisson Resort Scottsdale are breaking ground on new spas, and the...

Norwest aims at businesses. (Norwest Bank Arizona)
March 6, 1998... Norwest Bank Arizona has adopted a new strategy to build banking relationships with small businesses. Arizona's fourth-largest bank has long resisted the tug toward an organization that acknowledges business lines, even though the style is...

Show them the money: big law firm sets up sports-agent team. (Snell & Wilmer LLP)
March 6, 1998... Snell & Wilmer LLP is turning to three of its young partners to capture a chunk of the growing - and very lucrative - sports market and bring it to the Phoenix mega-law firm. Pat Byrne, Craig Williams and Curt Reimann are the Valley's...

Patent infringement charged: Arizona firm sued over liposuction technology. (Morwel Corp.)
March 6, 1998... A Tucson company contends that its new liposuction device has created a safer way of removing fat, but a California competitor alleges that the product is sucking away its patent rights. Mentor H/S Inc., based in Santa Barbara, Calif., holds...

Addy awards smile on agencies. (advertising agencies)
March 6, 1998... Riester-Robb and After Hours Creative tied for the most first-place Addys at this year's Phoenix American Advertising Awards, but Cramer-Krasselt racked up the most overall honors. The Phoenix agency walked away with 21 awards - five Addys,...

Phoenix firm takes sign from past mistakes. (Fastsigns on Central)
March 6, 1998... Employees first. That's the philosophy at Fastsigns on Central, a shop that provides quick turnaround of basic signage products and services. Co-owner Michael Reagan believes it's a large part of what earned him one of four "Franchisee of the...

Phoenix studies auto dealership exodus.
March 6, 1998... City of Phoenix officials want to prevent auto and track dealerships and their $63 million in sales taxes from fleeing to outlying communities. Already the city has missed out on two new dealership clusters, which chose sites just outside the...

Power shift: lights dim on monopolies. (deregulation of electric power sector in Arizona)
March 13, 1998... The change probably won't elicit the drama of Ben Franklin performing his kite experiment, Thomas Edison connecting his first light bulb, or for that matter, Clark Griswold turning on the holiday lights in the movie Christmas Vacation. But if...

Health plan favors top producers. (HealthPartners Health Plans Inc)
March 13, 1998... HealthPartners Health Plans Inc. has changed its commission schedule for brokers and agents so that high producers stand to make more money, and those who don't bring as much business will get paid less. As a result. a few brokers and agents...

Norwest deal won't derail small business. (merger between Norwest Bank Arizona and Bank of Arizona)
March 13, 1998... This week's deal bringing Bank of Arizona together with Norwest Corp. is not expected to douse what some say is a friendly loan climate for small businesses. Bank of Arizona, a 6-year-old bank that has been aggressive in building its...

Sub-prime auto lending expanding operations here. (Arizona)
March 13, 1998... Three companies involved in the subprime automobile lending industry are expanding operations in Arizona. Ugly Duckling Corp., whose shares are trading at about $11 off a 52-week high of $22.25, recently closed its Champion Financial Services...

Aunt Chilada's owner cooking up new hotel. (restaurant owner to create boutique hotel in Phoenix, Arizona)
March 13, 1998... The owner of Aunt Chilada's at the Pointe Hilton Resort at Squaw Peak is working on preliminary plans for a boutique hotel that would be similar to a bed-and-breakfast. The project will cost approximately $5 million. although that figure could...

Phoenix eye-care network links with LensCrafters. (First American Health Concepts Inc)
March 13, 1998... First American Health Concepts Inc., a Phoenix company that provides vision-care services nationwide, has added LensCrafters to its provider network while dropping Cole Vision sites. The provider network, called Eye Care Plan of America, has...

Business sparked by deregulation. (electric deregulation in Arizona)
March 13, 1998... To the average consumer, electric deregulation means dinner will be interrupted by telemarketers calling to push a better deal. To entrepreneurs, deregulation means new business opportunities spurred by the reconfiguration of utilities that...

Surplus cuts aid employers.
March 20, 1998... Arizona's businesses likely will get a reduction in the amount of money they pay into the state's unemployment compensation fund. What's still up in the air as lawmakers tackle the fund's $708 million surplus is how much and for how long....

Unplugged: many myths in industry changeover. (electric utilities)
March 20, 1998... So you've read the news accounts about electricity deregulation, seen the television commercials and junk mail from your utility with deals almost too good to be true. Now, the reality check: * Prices won't fall by the 40 percent to 50...

Businesses back kids' health bill.
March 20, 1998... Arizona businesses are rallying around a plan to provide health insurance coverage to as many as 60.000 uninsured children. In addition to nearly every health care organization in Arizona, business groups such as the Greater Phoenix Leadership,...

Trade center future unsure. (World Trade Center Arizona)
March 20, 1998... A decision on the fate of World Trade Center Arizona, which is trying to recover from administrative and financial problems. is likely to come soon. The nonprofit organization, which helps members do business internationally, owes about...

Cycle complex proposed in Tempe.
March 20, 1998... A 155-acre sports complex consisting of a world-class cycling velodrome, eight softball diamonds, two soccer fields and an 18-hole golf course is proposed in Tempe's Rio Salado Project. The proposal was filed this week by CMX Group Inc., a...

Health Care Group loss hits $7.6 million in 1998.
March 20, 1998... Health Care Group, created in 1988 to provide affordable coverage to small businesses, is at risk of going under. The three health plans that operate under the umbrella Arizona Physicians Health Care Group, Mercy Healthcare Group and University...

Managed care facing stiffer competition.(Health Trends)
March 20, 1998... Bashing managed care is all the rage these days among politicians and patients alike. State legislatures across the country are enacting laws in an attempt to manage managed care. President Clinton joined them two weeks ago when he proposed to...

'Best of best' searches earn reputation for headhunter. (EFL International CEO William Franquemont)(Success Strategies for Small Business)
March 20, 1998... With more than 20 years of experience under his belt, William Franquemont can stereotype a successful chief executive officer - from the boisterous guy who entered his office wearing a barbed-wire gold bracelet to the frail, bespectacled...

North Phoenix market booms. (residential and business construction)
March 27, 1998... When it comes to residential and business construction, far north and northwest Phoenix continue gaining momentum in the Valley's total growth picture. Some examples: * Continental Homes Inc. earlier this month cast the winning bid - $6.2...

Clean-air plan to cost at pump.
March 27, 1998... It might be time to kiss those low gasoline prices goodbye. In addition to anticipated increases from seasonal price hikes and a new production agreement among the largest oil-producing countries, clean-air regulations being considered by the...

Spotlights on the business of baseball: challenges just starting for D-backs. (Arizona Diamondbacks)
March 27, 1998... The business of baseball doesn't end with nine players on the field. That may be the easy part. Now that the Arizona Diamondbacks front office has established its business, like any other firm, its biggest challenges lie ahead: growing the...

Marketing called key to success. (spotlights on the business of baseball)(Interview)
March 27, 1998... Q & A Rich Dozer has been on the go constantly for the past few months as he gets the Arizona Diamondbacks ready for next week's Opening Day. The Business Journal snared some of his time this week and asked him to discuss his key business...

U S West stalls promised entry into long distance.
March 27, 1998... US West is delaying its ballyhooed entry into the long-distance market for at least six months as the company faces increased pressure from regulators and competitors to open local markets. The phone giant had announced in January that it...

Better safe than sorry: Valley builders shifting focus to construction-site safety. (Arizona)(Real Estate & Construction Trends)
March 27, 1998... As new buildings pop up seemingly overnight throughout the Valley, one thing that hasn't accompanied all the development is a rise in worker injuries. Historically, the business of building has been a risky one for workers striving to meet...

Weather blamed for job loss in construction.(Real Estate & Construction Trends)
March 27, 1998... The El Nino weather pattern, responsible for flooding and ruined crops in many states, put a damper on Arizona, too, in February. Unseasonably large amounts of rain or snow in parts of the state contributed to delays on several construction...

Negotiating an office lease can be risky.
March 27, 1998... Business is booming to the point where many companies are literally outgrowing their space. Office space was abundant and relatively cheap during a tenant's market in the 1980s, but it's becoming scarce and more expensive. Too many companies...