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

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

Mall plans 2 towers: 1 million square feet at Park Central. (Park Central Mall, Phoenix, Arizona)
November 7, 1997... Park Central Mall, once a decaying uptown Phoenix shopping center, is gaining momentum in its $225 million redevelopment with news that two high-rise office towers will join an impressive lineup of restaurants. Officials are finishing plans for...

Venture capital deals soar in '97. (Arizona)
November 7, 1997... Happy days are here again for players in the state's venture capital arena. Only nine months into the year, Arizona already has surpassed 1996's year-end total for venture capital deals, handily overcoming a slow start that had some worried...

$2M extra made off ballpark. (Bank One Ballpark in Phoenix, Arizona)
November 7, 1997... Despite promises to the contrary, Maricopa County taxpayers are going to wind up paying roughly $2 million more in sales taxes than originally pledged to help fund the new Bank One Ballpark in downtown Phoenix. County chief executive David...

Canadian builder spends $30M in Valley. (Victoria Properties; Sun Valley, Arizona)
November 7, 1997... A Canadian company has broken ground on its latest project in Tempe, bringing to nine the number of industrial and office developments it is building across the Valley. Victoria Properties of British Columbia is building a total of 19 office...

Laser maker aims for $32M in IPO. (Opto Power Corp; initial public offering)
November 7, 1997... An Arizona company that wants to make laser energy as common as computer chips is beaming up a $32 million initial public offering. Laser optics manufacturer Opto Power Corp. recently filed to sell off a stake in its operations, coupled with...

US West on line top open wireless stores. (US West Communications)
November 7, 1997... US West Communications will open its first retail stores in Phoenix and Tucson during the first quarter of 1998 featuring its new integrated wireless phone service. The Denver-based company is looking for retail commercial locations to rent...

Negotiations on state clean-up rules halted. (Arizona)
November 7, 1997... Three years of negotiations between the Arizona Department of Environmental Quality, other state agencies and private interests on the state's rules for contaminated soil cleanup came to a halt this week. The Governor's Regulatory Review...

Small-business owners want end to tax.
November 7, 1997... Some things never change, such as the desire of small-business owners to ax the business personal property tax. That desire has been voiced at each of the governor's conferences on small business in 1989, 1993 and 1997. But while...

Success of conference was uncertain. (Arizona's 1997 Governor's Conference on Small Business)
November 7, 1997... Just how successful was the 1997 Governor's Conference on Small Business? Well, it depends on who you ask. Joe Dean, Arizona small-business advocate, said he's not sure how effective the Oct. 31 conference was because of attendance. While...

Arizona & the Valley of the Sun.(Market Facts: Vital Statistics for the Valley)
November 7, 1997... Arizona Population Composition 1995 Est. totals % Whites 2,936,000 69.6 Blacks 127,000...

Native Americans sought as entrepreneurs. (efforts by Eastern Arizona College's Small Business Development Center)
November 7, 1997... Eastern Arizona College's Small Business Development Center is strengthening its efforts to introduce Native Americans to small-business opportunities. The center's recently formed partnership with the Self-Employment Loan Fund will test...

Relocation specialists open house as office. (Realty Executives)
November 7, 1997... When it comes to moving to a state you've never seen in a place you hardly know, the idea of visiting a corporate relocation specialist in a gleaming office tower seems rather uninviting, at best. That's why Realty Executives president Rich...

Sterling House plans 20 elderly facilities.
November 7, 1997... One of the nation's largest assisted-living companies plans to build about 20 facilities for the elderly in Arizona within the next two years. At least those were the plans for Wichita, Kan.-based Sterling House Corp. before it merged with...

Employment outlook. (Phoenix, Arizona and Sun Valley, Arizona)(Market Facts: Vital Statistics for the Valley)
November 7, 1997... Arizona Projected Employment by 2005(1) Percent change from 1994 Mining 13,100/9.2% Construction 220,400/103.3% Manufacturing 240,600/26.6% Durable goods 183,900/29.2% Nondurable goods 56,700/18.9% Transportation, communication,...

Foodsystems owners rising to next level. (Advanced Foodsystems)
November 7, 1997... A Phoenix software firm is gearing for a new generation of products, following a management-led buyout. Advanced Foodsystems, a $4 million software provider for distributors in the food industry, was sold last month to investors including the...

Schwab takes to slopes in search of investors. (Charles Schwab Corp.)
November 7, 1997... Charles Schwab Corp. is teeing off on a multimillion-dollar sports marketing campaign - its biggest in history - by aligning itself with the governing bodies of professional golf and skiing. The goal: Spread brand awareness to investors who can...

Quality of life. (Phoenix and Sun Valley, Arizona)(Market Facts: Vital Statistics for the Valley)
November 7, 1997... More Poor in Arizona Report shows workers not reaping benefits of state's economic boom POVERTY RATES Percent in poverty, nationally, 1976-1996, and Arizona's rate 1996 Nationally Arizona 1976 - 11.8% ...

Faculty: 'no confidence' in Glendale chief. (Glendale Community College College president Tessa Martinez-Pollack)
November 7, 1997... The Glendale Community College faculty has stamped a vote of "no confidence" on college president Tessa Martinez-Pollack. "Morale of our faculty is at its lowest point that anyone can remember," said Freddie Anttila, who has taught English...

Federal 7(a) loan program stays at same funding level. (Small Business Administration program)
November 7, 1997... Congress has decided not to increase funding for the Small Business Administration's popular 7(a) loan program. The 7(a) program is expected to remain at the $10 billion level for fiscal 1998, but Congress may consider expanding the program if...

Lawsuits loom for Year 2000. (Year 2000 computer programming problem)
November 7, 1997... Reprogramming computers to solve the Year 2000 problem is generating millions of dollars for hundreds of computer software and hardware shops that have mushroomed across the country. But these firms soon may realize that a good part of this...

'Freshness' aids institute leader. (Morrison Institute for Public Policy associate director Mary Jo Waits)
November 7, 1997... Not too many people get as excited about public policy as Mary Jo Waits. But then again, Waits has a track record of going against the grain. As a doctoral student in Michigan, studying urban and regional planning, she chose to vacation in...

Business profile. (Phoenix and Sun Valley, Arizona)(Market Facts: Vital Statistics for the Valley)
November 7, 1997... Most Valuable Stock Options(1) Arthur Moreno CEO, President Outdoor System Inc. Option Value: $15.2 million 1996 salary/bonus: $1.88 million Other compensation: $3,150 Long-term cash: $0 Total: $17.1 million Eric Danziger CEO, president...

Economy/finance. (Phoenix and Sun Valley, Arizona)(Market Facts: Vital Statistics for the Valley)
November 7, 1997... Arizona SBA Loans Fiscal Number Dollar year of loans amount(1) 1997 1194 $374.7 1996 913 $273.1 1995 772 $161.4 1994 445 $125.6...

Computer software firms blanket AzTech 50 ranks.(AzTech '97: Arizona's 50 Fastest-Growing High-Tech Companies)
November 7, 1997... [TABULAR DATA OMITTED] You can't touch it or see it, but chances are you couldn't live without it, either. And the influence of computer software was just as evident in this year's AzTech 50 list. As technology manufacturers drew attention...

Montage of businesses named to AzTech 50. (Arizona technology firms)(AzTech '97: Arizona's 50 Fastest-Growing High-Tech Companies)
November 7, 1997... The top 10 Arizona-based high-technology companies are profiled throughout this special AzTech 50 section, but the following firms also made the list. Some were repeats from years past and others are first-timers in the annual ranking. *...

Technology & manufacturing.(Market Facts: Vital Statistics for the Valley)
November 7, 1997... Arizona High-Tech Firms 1996 1,985 1992 1,288 1987 905 1982 593 1977 407 1972 270 Source: University of Arizona High Technology Study 1995 Arizona Department of Economic...

Real estate. (Phoenix and Sun Valley, Arizona)(Market Facts: Vital Statistics for the Valley)
November 7, 1997... Apartment Vacancy Rate(1) Maricopa County 1987-1996 1987 13.0% 1988 14.1% 1989 13.4% 1990 10.0% 1991 9.5% 1992 8.0% 1993 4.0%...

17 companies debut as fastest-growing in state. (Arizona high technology companies)(AzTech '97: Arizona's 50 Fastest-Growing High-Tech Companies)
November 7, 1997... There are 17 new businesses gracing this year's AzTech 50 list of the fastest-growing high-technology companies in Arizona. And of those, the software industry emerged as the strongest new growth sector with nine companies on the list for the...

JDA, SpeedFam make greatest leaps in rank. (JDA Software Group Inc; SpeedFam International Inc)(AzTech '97: Arizona's 50 Fastest-Growing High-Tech Companies)
November 7, 1997... For some companies, appearing on the AzTech 50 list apparently just isn't good enough. As if to prove that previous success was no fleeting accomplishment, several firms with repeat appearances on this year's list made significant leaps over...

MEGA Systems celebrating mega-success. (MEGA Systems and Chemicals Inc.)(AzTech '97: Arizona's 50 Fastest-Growing High-Tech Companies)
November 7, 1997... The founders of Chandler-based MEGA Systems and Chemicals Inc., the second fastest-growing high-technology company in the 1997 AzTech 50 ranking, were doubly honored this year with a high-tech entrepreneur award. MEGA Systems chief executive...

Tourism. (Sun Valley and Phoenix, Arizona)(Market Facts: Vital Statistics for the Valley)
November 7, 1997... Visitor Impact in Maricopa County 1995 No. of visitors 10.86 million Expenditures $5.35 billion Visitor Expenditure by Industry in Maricopa County Lodging $1,150,886 Food, beverage 1,530,946...

Ventana sets sights on global expansion. (Ventana Medical Systems Inc)(AzTech '97: Arizona's 50 Fastest-Growing High-Tech Companies)
November 7, 1997... Tucson-based Ventana Medical Systems Inc., which makes high-tech medical equipment that helps in the fight against cancer, is on the rebound. Pierre Sice, vice president and chief financial officer, attributes the success of Ventana to the...

Network faxing sends Tucson firm up AzTech 50 list. (RightFAX)(AzTech '97: Arizona's 50 Fastest-Growing High-Tech Companies)
November 7, 1997... Tucson-based RightFAX bills itself as a leader in network fax integration, which is the high-tech way of saying the company comes up with really cool ways to get a fax from one place to another. Have you ever stood over a facsimile machine,...

National Health on AzTech 50 despite sale. (National Health Enhancement Systems Inc.)(AzTech '97: Arizona's 50 Fastest-Growing High-Tech Companies)
November 7, 1997... National Health Enhancement Systems Inc. is one of at least two companies this year to make the AzTech 50 list that is on the selling block. The other is CompuRAD Inc. of Tucson, which is in the process of being acquired by Sunnyvale,...

Chandler equipment maker designs unique future. (Unique Equipment Co.)(AzTech '97: Arizona's 50 Fastest-Growing High-Tech Companies)
November 7, 1997... Unique Equipment Co. has made itself known as a reliable, one-stop shopping experience among companies looking for someone to design and build a new manufacturing process. In doing so, the Chandler-based designer of custom engineered systems...

Stock up 19.4 percent for AzTech public firms.(AzTech '97: Arizona's 50 Fastest-Growing High-Tech Companies)
November 7, 1997... AzTech Stock Action Year-to-date performance Price Price % Exchange 12-31 10-31 change Burr-Brown Corp. NASD $17.33...

Flexible circuitry puts Dynaco on AzTech map.(AzTech '97: Arizona's 50 Fastest-Growing High-Tech Companies)
November 7, 1997... Dynaco Corp. is being recognized for the first time among the top 50 fastest growing high-tech firms in Arizona thanks to the lead it has taken in the flexible-circuit industry. And although the company has other product lines, it was flexible...

Health. (Phoenix and Sun Valley, Arizona)(Market Facts: Vital Statistics for the Valley)
November 7, 1997... Healthiest States 1997 Analysis of the Healthiness of Populations in All 50 States 1 Minnesota 2 New Hampshire 6 Colorado 9 Utah 18 California 27 Oregon 27 Texas 34 Arizona 49 Louisiana 49 Mississippi Source: ReliaStar Financial Corp.,...

Business launched from garage. (Internet Access)
November 7, 1997... What do a small, neighborhood market and the world's largest interconnection of computer networks - also known as the Internet - have in common? For Jeff Gong, president and owner of Phoenix-based Internet Access, both are retail environments....

Boeing managers flying blind, critics say: new directors likely yo change course, corporate attitude.
November 7, 1997... As The Boeing Co. staggers from the impact of $1.6 billion in charges from production problems this year and $1 billion more expected next year, industry watchers are beginning to wonder what's happening at the helm. And with a reconstituted...

Kodak project exposed. (Eastman Kodak Co undergoes restructuring but will continue with flat-panel display facility)
November 14, 1997... Eastman Kodak and Valley officials were moving close to a deal that would bring a major Kodak operation to Phoenix or Tempe, until this week when Kodak announced a major restructuring. Kodak's move to restructure the company and cut 10,000 jobs...

Alice Cooper finalizes deal for sports bar. (Western Wholesale Drug Co to be converted into Alice Cooper'stown restaurant)
November 14, 1997... It all started one day during Little League practice. Valley entrepreneur Brian Weymouth approached fellow coach and rock star Alice Cooper - and a high-level executive meeting occurred right there on the field. Weymouth: "We ought to be doing...

Software firms benefitting from online banking boost. (Future Focus Inc launches online banking services)
November 14, 1997... You can't get cash out of them, but personal computers are catching on in Arizona as a way to do banking, and that means big growth for web-site developers. "It's definitely cutting edge," said Richard Gonzales, the 27-year-old co-founder of...

Barrage of Valley no-frills hotels creates concern. (extended-stay and limited-service hotels)
November 14, 1997... Can't find a room at the inn? Then you're not looking in metro Phoenix. The building boom that has erupted in the extended-stay hotel market, however, is beginning to worry some industry professionals, including property owners and managers....

Limo firms on a roll with Stones. (Rolling Stones concert trigger outrageous limousine demand for Scottsdale Limousine and Mirage Limousines)
November 14, 1997... Limousine companies experienced the busiest night since the 1996 Super Bowl when the Rolling Stones came to town last week. Concerts that attract the baby-boomer generation always are big sell-out nights for limo services. The recent concerts...

TV-land summons Phoenix. (Television Preview surveys audience reaction to tv programs)
November 14, 1997... As any advertiser knows, the key to getting a message across is making sure there's an audience on the other end. That's why newspapers have circulation audits, politicians have pollsters and broadcast networks have companies like Television...

Bodyshop employees repair more than local man's truck. (Phoenix AutoBody World assists paralyzed electrical contractor)
November 14, 1997... Sam Plambeck's 1990 half-ton pickup recently was brought to the Phoenix AutoBody World on 27th Avenue for repairs. So what, you may ask? Plambeck is a 36-year-old electrical contractor who had a thriving Valley business, 25 employees and a Salt...

N.M.-Arizona Land acquires RRH Financial. (New Mexico and Arizona Land Co and RRH Financial becomes Bridge Financial Corp)
November 14, 1997... New Mexico and Arizona Land Co. is breaking into the short-term commercial real estate lending market and has acquired Tempe-based RRH Financial for $10 million. The acquisition last week became Bridge Financial Corp., a subsidiary of New...

Platinum Technology plans expansion for more employees. (Platinum Technology Inc)(Company Profile)
November 14, 1997... Platinum Technology Inc. is making room with a 6,700-square-foot office complex to accommodate an additional 50 or so employees over the next year in its Phoenix operations. Although the consulting and software distribution company, based in...

Software firm banks on political outrage. (Slugbug Software Inc releases Flame.ON! program)(Company Profile)
November 14, 1997... Beware, left-wing fanatics, right-wing radicals and anyone who happens to offend customers of a new Phoenix software firm. A laid-off engineer at Microtest is madder than heck, and his new company, Slugbug Software Inc., wants you to know about...

Dallas apartment builder gets $1.6M incentive from Phoenix. (Columbus Realty Trust to develop apartment complex)
November 14, 1997... Columbus Realty Trust will receive a cash handout of $1.6 million from the city of Phoenix to develop a $70 million apartment complex with 800 units in the heart of downtown. Columbus will build the project on an 11-acre parcel bounded by...

United Parcel Service targets Hispanic market. (United Parcel Service of America Inc hires Icon Advertising to handle public relations in the Southwest)
November 14, 1997... United Parcel Service has joined the growing number of corporations marketing specifically to Hispanics. The package express company based in Atlanta has hired Icon Advertising to handle advertising and public relations for its Southwest...

Consultant's solutions are blowing in the wind. (Richard Sutz thrives with Renewable Energy Systems and Technology and with his Literacy Co)
November 14, 1997... Call him the Don Quixote of Scottsdale Airpark. Richard Sutz has been jousting with wind-mills for more than 10 years. He wants to make them a tool to bring clean water to third-world countries. Following a transaction that closes this week,...

Restaurant caught in honey of problem. (renovation problems and zoning restrictions hinder opening of Honey Bear's BBQ)
November 14, 1997... The delay in opening Honey Bear's BBQ on Central Avenue in Phoenix is taking a bite out of its owners' wallet. Because some renovation problems prevented it from opening as scheduled on Oct. 15, management is missing out on revenue and losing...

Bill to allow digital signatures as final proof. (Electronic Commerce Enhancement Act allows digital signing)
November 14, 1997... U.S. Rep. Anna Eshoo, D-Calif. wants the fruits of Silicon Valley to be consumed by every American. Eshoo, who represents hundreds of high-technology companies in northern California, introduced a technology bill that aims to bring most of...

Pinnacle West yields dividend increase. (Pinnacle West Capital Corp, Talley Industries Inc, Amerco, Finova Group Inc, Dial Corp, Viad Corp and Imperial Bancorp declare dividends and earnings)
November 14, 1997... Pinnacle West Capital Corp. (NYSE: PNW) announced a dividend hike of 9 percent, or 10 cents per share annually. The board's action will result in an indicated annual dividend of $1.20 per share (30 cents per quarter). The declared dividends are...

IPO.Com launches site for private placements. (IPO.Com Inc)(Company Profile)
November 14, 1997... IPO.com probably will get a lot more hits than, say, RegulationDRule504.com or, for example, accreditedinvestorsonly.com. But the web site with the catchy Internet address was launched recently with private placements, not initial public...

Lawyer bucks trend at AHCCCS. (profile of Jack Kelly, director of Arizona Health Care Cost Containment System)
November 14, 1997... Jack Kelly is the only director of the state Medicaid program who has not been a doctor. He's an attorney who stumbled into the Arizona Health Care Cost Containment System seven years ago as a hearing officer. Kelly moved up the ranks, and was...

Women's basketball leagues to slug it out. (American Basketball League vs. Women's National Basketball League)
November 14, 1997... For supremacy on and off the court With its second season just under way, the fledgling American Basketball League is using a variety of means - some creative - to check its upstart rival, the Women's National Basketball Association. But the...

BofA plans to expand in New England. (Bank of America)
November 14, 1997... Bank of America has its sights set on Boston. The third largest bank in the country, San Francisco-based Bank of America, has set up a 17-person office in International Place and plans to boost professional staff into the hundreds over the next...

Handbook policies targeted: Supreme Court ruling could have big effects. (employees of ITT Cannon question company personnel policies in Arizona supreme court)
November 14, 1997... A case before the Arizona Supreme Court will decide whether employee handbooks must be regarded as contracts that cannot be changed without employee consent. If that position is upheld, employee handbook policies established years ago could be...

Option for paperwork nightmare on horizon. (Professional Employer Organization assists companies with personnel-related work)
November 14, 1997... Jean Rice, chief executive and owner of Action Healthcare Management in Phoenix couldn't have been more excited about owning her own business. After purchasing the company where she had worked for several years, Rice knew that owning the...

Changes lead to firm's growth. (Contact Behavioral Health Services adapts to change)
November 14, 1997... Contact Behavioral Health Services has gone through several corporate ownership changes, but has managed to survive it all. Chief executive Larry Frazier, who joined the company in 1984, attributes Contact's success to its ability to adapt to...

Samaritan distributes $400,000 in grants. (Samaritan Health System benefits from grants by the Samaritan Foundation board of directors)
November 14, 1997... Cancer patients and their families treated at the nonprofit Samaritan Health System medical centers will benefit from $400,000 in grants awarded recently by The Samaritan Foundation board of directors. The grants were funded from the proceeds...

Best deal: Washington Int. Airport. (Baltimore/Washington International Airport offers cheaper rates)
November 14, 1997... Baltimore/Washington International Airport is one of the most affordable major airports in the country, a new federal study shows. The U.S. Department of Transportation found that travelers using Baltimore's airport during the first three...

Consolidation creeps into accounting field.
November 14, 1997... Mergers, acquisitions and buy-outs. It's enough to make an accounting firm seem sexy. Like banks and law firms in the early 1990s, accounting firms now are being refashioned to face new demands from customers in a technology-driven economy....

Job loss due to mergers tops list of employee concerns.
November 14, 1997... Job loss due to mergers tops the list of greatest concerns of employees, according to a survey commissioned by Menlo Park, Calif.-based Robert Half International Inc. Fifty-one percent of respondents cited this anxiety as their primary...

Tenet may take a shot at Columbia. (Tenet Healthcare Corp.; Columbia/HCA Healthcare Corp.)
November 21, 1997... Tenet Healthcare Corp., which has been unsuccessful in its attempts to buy nonprofit hospitals in Arizona, may have found its target in competitor Columbia/HCA Healthcare Corp. Columbia announced plans this week to spin off 108 hospitals into...

Goodyear banks on new twist: Snyder's building $15M pretzel plant. (Snyder's of Hanover Inc.)
November 21, 1997... In a deal that's expected to shape a new economic development cluster in Goodyear, one of the country's largest pretzel makers will build a $15 million plant, creating at least 100 jobs. Snyder's of Hanover, a leading baker of specialty...

Delstar opens 4 shops in new Tempe mall. (Delstar Group)
November 21, 1997... Pam Del Duca is taking a gamble on the mega-mall concept to roll out four stores - including two with fresh names - in Arizona Mills. "We have followed all the Mills malls around the country, and they are phenomenal," said Del Duca, founder,...

IMAX prototype debuts at Mills. (IMAX Corp.; Arizona Mills)
November 21, 1997... IMAX Corp. will revolutionize three-dimensional cinema with its new prototype theater at Arizona Mills in Tempe. The IMAX theater will take viewers to the next dimension with such films as Into The Deep, an underwater 3-D experience. "You're...

Baseball fans mix work and play. (IKON Office Solutions Business Center at Bank One Ballpark)
November 21, 1997... Season ticket holders in the suite/club level of Bank One Ballpark who are tom between sneaking in an Arizona Diamondbacks baseball game and slaving away at the office will be able to combine both worlds. The Diamondbacks, IKON Office Solutions...

Casa Grande Valley bank expanding across state. (Bank of Casa Grande Valley)
November 21, 1997... The Bank of Casa Grande Valley is responding to significant financial growth and mergers by the big banks to expand from three offices to five by the end of the year and possibly nine in 1998. For the first time in its 13 years, the bank this...

SBA speeding FA$TRAK to more state lenders. (Small Business Administration)
November 21, 1997... Small-business owners soon may have more lending institutions to choose from when looking for FA$TRAK loans. The U.S. Small Business Administration expects this spring to open its FA$TRAK loan program to all SBA preferred lenders, said Phil...

Nuclear plant exec up for $100,000 bonus. (Palo Verde Nuclear Generating Station Gen. Mgr. William Stewart)
November 21, 1997... Arizona Public Service Co. is offering a $100,000 bonus to the senior executive in charge of the Palo Verde Nuclear Generating Station if the plant continues to score top marks for performance from regulatory commissions. William Stewart, who...

Henry & Horne increases auto dealerships. (Henry & Horne PLC)
November 21, 1997... Accounting firm Henry & Home PLC has doubled the number of clients in its automotive specialty practice with the addition of certified public accountant Henry Santostefano. The client roster jumped from 35 to 70 auto dealerships, said Jim...

'Fundamentals' gets your motor running. (home study program on the basics of Harley-Davidson motorcycle mechanics)
November 21, 1997... Two local companies are revving up a home study program to help Harley owners get intimate with their bikes. They may even help the Harley-Davidson Motor Co. recruit new technicians. Clinton Education Group of Phoenix is working with...

Premier Healthcare fills rural senior HMO void. (Premier Healthcare of Arizona)
November 21, 1997... Arizona's two largest managed-care companies are pulling their unprofitable senior health maintenance organizations out of two rural counties. A smaller HMO, Premier Healthcare of Arizona, is stepping in. Intergroup of Arizona and...

Norwest economist sees balanced growth here. (Norwest Corp.; Phoenix Metropolitan Area)
November 21, 1997... For many in the Valley, burned by a bleak economy in the early '90s, the question is not when the bust will happen but how hard it will hit. Norwest Corp. economist Sung Won Sohn sees a soft rather than hard landing in Phoenix. "If we look...

M&I Corp. banks on Illinois expansion to build interest. (Marshall & Ilsley Corp.)
November 21, 1997... Marshall & Ilsley Corp. saw an opportunity to expand to the southeast corner of its 'home state of Wisconsin and enter Illinois for the first time, so it took Advantage. The purchase of Kenosha, Wis.-based Advantage Bancorp Inc., with $1.1...

Video-game industry to see happy holidays.(Industry Overview)
November 21, 1997... It's shaping up to be a merry holiday season for the video-game industry. Riding on the coattails of strong sales for the first nine months of the year, the industry is indicating the all-important fourth quarter, which includes...

China limits have chip makers SEMI mad. (government sanctions against exports by semiconductor equipment manufacturers)
November 21, 1997... Semiconductor equipment manufacturers in California's Silicon Valley and elsewhere are seeing red over government sanctions that make it nearly impossible to export some of their most cutting-edge chipmaking equipment to China. Experts say...

Psychiatric hospitals struggle to break even; industry executives find themselves at wits' end.(Health Trends)
November 21, 1997... Nearly every psychiatric hospital in Arizona is losing money. At the root of those losses, according to industry executives, is an oversupply of inpatient beds, declining reimbursement from payors, declining admissions and declining length of...

Governor to focus on children's health. (Gov. Jane Hull's Kids Care Program)(Health Trends)
November 21, 1997... By announcing her Kids Care Program last week, Gov. Jane Hull took the initiative toward changing Arizona's abysmal record in providing health care for low-income children. The program would use tobacco-tax dollars and federal funding to...