Denver Business Journal articles from January 1997

Denver Business Journal archives from January 1997

G-7 in Denver: the world is watching. (Group of 7 to hold 1997 meeting in Denver, CO)
January 3, 1997... Economic powers converge June 20-22 When the heads of the world's traditional industrial superpowers converge on Denver for the annual G-7 summit in June, the Mile High City will occupy center stage on the global economic scene. Tariffs,...

Colorado's exports hit a plateau in 1996.
January 3, 1997... Colorado's sluggish 1996 export growth came to a halt in the third quarter, marking another in a series of declines in goods shipped to foreign countries. Exports from Colorado grew by only 1 percent in the first nine months of 1996....

Native Americans protest bank deal. (merger of NationsBank and Boatmen's Bancshares challenged in Denver court)
January 3, 1997... Community reinvestment issues surface in NationsBank merger Denver is the scene of a legal move designed to delay this country's third-largest bank merger - Charlotte, N.C.-based NationsBank Corp.'s $9.8 billion purchase of Boatmen's...

16th Street watches Media Play. (Musicland Group Inc. to close its music store in Denver, CO)
January 3, 1997... Store remains open amid cuts Now that Media Play's parent company has announced plans to close 29 stores across the country, including one in Highlands Ranch, Denver will be watching its much-celebrated downtown location. Minnesota-based...

Tracking kids at home mission of Boulder firm. (Fly on the Wall Inc.)
January 3, 1997... Fly on the Wall hopes to stick Did you ever wish you had an extra pair of roving eyes to keep tabs on your children when they are home alone? A new Boulder-based company, Fly on the Wall Inc., offers parents that service. Founded two...

Nuisance law draws business protest. (Denver ordinance that would empower the city to confiscate property where gangs, drugs and prostitution occur)
January 3, 1997... A controversial Denver ordinance that some business owners fear would allow the city to confiscate their property is scheduled to come before Denver City Council Jan. 6, with a possible vote on the proposal a week later. The ordinance is aimed...

Colorado lags peers in health insurance. (includes related article on health insurance statistics)
January 3, 1997... GAO says other states far ahead Although Colorado has made it easier for individuals to buy health-care insurance in recent years, it hasn't pushed through many of the reforms adopted in other states. That's the conclusion of a new report by...

AT&T enhances its digital cellular service. (AT&T Wireless Services starts digital phone service in Colorado)
January 3, 1997... Company bills DigitalPCS as 'all-in-one' pager and phone product AT&T Wireless Services Inc. is unveiling an enhanced digital cellular phone service in Colorado that it hopes will steal headlines from new wireless competitors who will be...

Operating on a profit. (Malik Hasan, chief executive officer of Health Systems International Inc.)
January 3, 1997... Health plan boss builds an empire Like Harry Truman, Dr. Malik Hasan prides himself on being candid and open. Also like the former president from the Show Me state, that quality has won Hasan a lot of admirers and critics. Hasan, the Pueblo...

Colorado's 'stealth economy.' (military-intelligence gathering facilities a significant contributor to state's economy)
January 3, 1997... Secret satellite plants spend billions, employ thousands Colorado's rising role in the U.S. reconnaissance mission has beamed billions of intelligence-budget dollars into the state and taken the economy to new heights. A glimpse into the...

Cattle ranchers suffering from non-bullish market. (Colorado)(Industry Overview)
January 3, 1997... More than 1,000 Colorado cattle businesses could go under this year if market conditions don't improve. Dave Carter, president of the Rocky Mountain Farmers Union, said that although it is hard to pin down an actual figure this early, he...

MFS stake puts Sturm in telecom's emerging elite. (MFS Communications Ltd.)
January 3, 1997... In the Cherry Creek offices of financier Donald Sturm, a western sculpture of a bear and a bull locked in mortal combat sits squarely on a coffee table. Sturm, banking tycoon and consummate investor, has kept the bears at bay for three decades...

Labor shortage looms for telecom industry. (Denver, CO)(Industry Overview)
January 3, 1997... If you are a skilled telecommunications professional, you are one hot commodity in Denver. How hot? Some technicians can double their incomes to $50,000 a year by learning about newfangled technology. Starting pay for phone equipment...

Snowboarding craze leaves Poppen behind. (Sherm Poppen, credited with inventing the forerunner of the modern snowboard)
January 3, 1997... STEAMBOAT SPRINGS - Sherm Poppen isn't what one might expect from the father of the nation's hottest winter sport and the progenitor of nose-ringed shredders everywhere. Indeed, the 66-year-old grandfather is just learning to ride a snowboard...

Christmas doldrums hurt retailers. (Denver, CO)(Industry Overview)
January 3, 1997... For the second year in a row, Christmas sales generally have been a disappointment to retailers. This applies to sluggish economic regions such as the Northeast but even the solid gains in faster-growing Western states have been less than...

Western art: alive, well and living in Santa Fe.
January 3, 1997... What is the state of Western art? Alive and well by all measurements: New collections are being formed and existing ones improved; dealers are finding good material, and there is an openness on the part of buyers to expand their knowledge to...

Trade, jobs, currency EU priorities for G-7. (European Union)(includes related article on member countries)
January 3, 1997... European Union agenda, looms large at summit Like Russia, the European Union, a confederation of 15 European countries, will participate in the G-7 summit as an observer. That's not to say the EU lacks weight. The union's four largest...

Food fight shaping up in Boulder, (natural foods industry; Colorado)
January 10, 1997... Natural chain takes on Wild Oats Boulder has proven to be fertile ground for natural foods retailers. Both Alfalfa's and Wild Oats were founded there and now their largest rival is preparing to enter the market. Austin-based Whole Foods...

Fiber-optics missing link for confab biz: convention center lacks lure of high-tech tools. (installation of fiber-optic cables at Colorado Convention Center in Denver)
January 10, 1997... The city of Denver, after losing one supercomputer convention valued at $6.3 million because the Colorado Convention Center has become low-tech, may install fiber-optic cables in the 7-year-old center to bring it into the high-tech world....

Drawing a road map to new Strategies. (Small Business Strategies section in 'The Denver Business Journal')
January 10, 1997... With the beginning of the new year, we're pleased to introduce a new approach to our coverage of small business in metro Denver. Our new format, developed by Small Business Strategies Editor Bob Meek, is built around tools our readers need to...

The M.B.A. question: can Denver do better? (struggle for metro graduate business programs to be nationally recognized)
January 10, 1997... Metro graduate business programs gain respect in Colorado, but national recognition eludes During the past decade, Denver has made big strides toward becoming a legitimate national business center, with growth in the telecommunications,...

Gas venture inflates Dietler's fortunes. (Denver oilman Cortlandt Dietler)
January 10, 1997... TransMontaigne stock surges 260 percent Denver oilman Cortlandt Dietler has struck black gold again with his newest energy venture, TransMontaigne Oil Co. The Denver-based company's stock surged 260 percent in its first year of trading on...

Indian Market satisfies appetite for Western art. (Colorado Indian Market and Western Art Showcase)
January 10, 1997... Jan Esty, organizer of the Colorado Indian Market and Western Art Showcase at Currigan Hall, fretted that the Denver Broncos' AFC championship game, slated for Jan. 12, might curb attendance at her event because of the traffic snarl it would...

Weather, move hurt First Night. (alcohol-free family celebration of entertainment in Denver, CO)
January 10, 1997... But events at zoo, gardens flourish Denverites enjoying unusually warm weather stormed the gates of two outdoors attractions in the city during the holidays, but high temperatures may have kept visitors away from the indoor First Night...

HeatWatch catches cows in the moooood. (electronic technology for detecting when a cow goes into heat)
January 10, 1997... Ranchers no longer have to loiter around the pasture like peeping Toms to discover when their cows are feeling frisky. Denver-based DDx Inc. has patented an electronic technology that detects when a cow goes into heat. At a cost of about $3,000...

Clinton's inauguration slows Pepsi Center talks. (new stadium in Denver, CO)
January 10, 1997... Denver Mayor Wellington Webb probably will watch William Jefferson Clinton take the presidential oath for a second time before he sits down with Ascent Entertainment Corp. chief Charlie Lyons to negotiate a stadium deal. Because the...

Adam's Mark Hotel moves up opening date. (after expansion and renovation)(Column)
January 10, 1997... The $135 million expansion and renovation of the Adam's Mark Hotel in downtown Denver is going along so well that the "technical opening" date for the hotel has been moved up to Aug. 21, five months ahead of the original schedule. That's...

Companies learn value of sale-leaseback deals. (real estate)(Column)
January 10, 1997... With J.D. Edwards' recent $28 million sale-leaseback of its new suburban headquarters to Washington, D.C.-based CarrAmerica Realty Corp., the Denver software giant is a real estate fashion plate. In a trend that has hit the metro area recently,...

Gold companies mine Wall Street.
January 10, 1997... The price of gold has plunged 16 percent over the last year, taking with it the stock prices of some of the world's largest gold mining companies. Now the mining industry has turned to Wall Street, where predators are seeking acquisition...

DU real estate program building on experience: students design, construct office space. (University of Denver)
January 10, 1997... When Phil Ruschmeyer, now a vice president and office broker at Denver-based Frederick Ross Co., graduated from the University of Denver's real estate program in 1980, a downturn in the local real estate market loomed large. The broker credits...

Relevance to business key for today's B-schools. (business schools)
January 10, 1997... The business school that truly expects to be relevant should have professors in the classroom who are accomplished both in the professional, practitioning arena and in the teaching endeavor. Business schools cannot afford to be irrelevant -...

Companies pay for employee education: firms find that better-educated employees provide high returns.
January 10, 1997... JACKSONVILLE, Fla. - In today's ever-changing work environment, it pays for employees to pursue advanced educational goals. Especially when the company is picking up the tab. Many local companies will reimburse their employees to further...

Economic freedom study places U.S. in lead.
January 10, 1997... Heritage index takes on the world The United States and Great Britain have the greatest degree of economic freedom, while Japan, Canada, the major European powers and especially Russia remain one or two levels behind. That's the conclusion...

Getting started: finance fundamentals. (small business finance)
January 10, 1997... How to find funds for your small biz Your business is at a crossroads. You need new technology, you want to expand, or you want to launch a new product line, but your needs exceed your available funds. What's next? It may be time to...

Computer future shocks: new millennium could cause problems. (year 2000 transition)(Column)
January 10, 1997... Within three years, on Jan. 1, 2000, the so-called Millennium Crisis takes effect. The crisis concerns software that identifies a year by means of its last two digits. A program that identifies, say, "1997" as "97" is seriously confused by...

Make goal-setting a new year's resolution: get your financial, marketing and organizational matters in order.
January 10, 1997... The first of the year signals renewal - a time for goal setting, planning and renewed commitment. While many entrepreneurs do their planning in their heads, the most successful know it takes committing a plan to paper for it to work. This has...

Tenure remains an imperfect idea. (of college teachers)(Column)
January 10, 1997... In a study last year for the American Council on Education, a group of civic leaders was asked to offer opinions on higher education today. Their harshest comments were reserved for one of education's most sacred institutions: tenure. These...

Looking back at the Great Trolley War provides lessons for competitors today.
January 10, 1997... Editor's note: In 1997, Denver consumers will face the great telecommunications debate. U S West's historic monopoly will be broken up and new entrants will be allowed to offer local phone service. Writer Tom Anthony takes a look back a century...

Making his father's dream a reality: Greg Stevinson follows course charted out quarter-century earlier. (president of Denver West Realty Co.)(includes brief biography)
January 10, 1997... In the 21st century, Greg Stevinson may lead his family into the position as the most influential power brokers in Jefferson County, a role held firmly by the Coors family during the past 100 years. As the president of Denver West Realty,...

Creditors will get their day in court; but Porter McLeod vows to fight bankruptcy trustee's fraud claims. (Porter McLeod Construction Services)
January 17, 1997... But Porter McLeod vows to fight bankruptcy trustee's fraud claims More than 1,000 creditors seeking $4.7 million from the Denver-based Porter McLeod construction companies got an early Christmas present from bankruptcy court. In a key ruling...

Riding high in the saddle. (Davis, Graham and Stubbs partner Glen Keller as head of Westernaires)
January 17, 1997... Glen Keller is a man who wears many hats. The cowboy variety seems to be one of his favorites. The tireless Denver bankruptcy attorney and former federal bankruptcy judge spends a good chunk of his week directing and teaching the Westernaires,...

Janus affair should put funds on notice. (SEC's administrative action against Janus Capital Corp. Portfolio Manager Ron Speaker)
January 17, 1997... Mini-scandal by mini-scandal, mutual funds are losing their squeaky-clean image. In an industry that now counts its assets in the trillions, an infraction involving less than $50,000 in fines may appear small. But the Securities and Exchange...

REITs attract investors with high returns. (real estate investment trusts)(Special Report: Your Money)
January 17, 1997... Trusts limit risk, eliminate mystique of buying property Brag all you want about the hot stock market last year, but old-fashioned real estate, particularly real estate investment trusts, handed out returns that made even equities look weak....

U S West unveils image campaign. (U S West Communications Inc.)
January 17, 1997... U S West Communications Inc. has taken the wraps off a major marketing campaign company officials hope will position it as the one-stop shop for every communications need. Analysts say it's a smart move that should help the Baby Bell head off...

Schools may reap bonanza; Medicaid funds sought for kids.
January 17, 1997... Colorado's schools may realize a $20 million annual windfall from the federal Medicaid program that could be used to launch new health-care programs for children, especially the thousands of children in the state without health insurance of any...

Gyms use perks, price to woo new members.
January 17, 1997... Health clubs chasing business Sub-zero weather and New Year's resolutions translate to the busiest time of year for Denver-area health clubs, but it takes a hefty investment to retain members while drawing in newcomers. The business of...

Ruling may put Indian back on track. (Indian Motorcycle Company Inc.)
January 17, 1997... The assets of a knot of Indian motorcycle companies have been put up for sale in the federal court, a move that's billed as a potential step toward resurrecting the long-extinct bike. Four companies, cobbled together during a protracted battle...

Franklin plots direction for Colo. Black Chamber. (Les Franklin, chairman of Colorado Black Chamber of Commerce)
January 17, 1997... The new chairman of the Colorado Black Chamber of Commerce wants to change the system. Les Franklin, who took the position last month, said the minority communities in Denver need to pull together their weight to make an impact and get...

Russian chamber hopes to make summit G-8. (Russian-American Chamber of Commerce)
January 17, 1997... Russia may not be an economic powerhouse yet, but its long-range goals point in that direction - at least that's what a little-known trade organization in Aurora is touting. The country, which holds a high percentage of the world's mineral and...

Brokers forecast growth in home builder market.
January 17, 1997... Two of metropolitan Denver's top land brokers have landed a lot of business lately from area home builders, and they see that trend continuing this year. Their business reflects a Colorado housing market that continues to see demand rise....

Thornburg preaches bonds in stock frenzy. (Thornburg Funds)(Special Report: Your Money)(Interview)
January 17, 1997... Laddering strategy, low risk keep Santa Fe group at top of class Bond funds have had a tough time of late. Two years of hot stock returns have made them "boring" compared to equities. Investors have pulled billions of dollars out of bond...

Lawmakers debate income tax cut.
January 17, 1997... The Colorado legislative session kicked off Jan. 8, a four-month marathon where only a handful of some 600 bills introduced will actually finish. I scanned through 200 bills introduced in the first few days to plumb any that had a direct...

Health bills open choices to small business.
January 17, 1997... Two bills have been introduced in the 1997 session of the Colorado Legislature to allow small businesses in the state to get their employee benefits - including health insurance - through an employee leasing company. The legislation is in...

Social Security fix: how much is enough?(Special Report: Your Money)
January 17, 1997... In the 1930s, the United States built a new economic home based on concepts such as Social Security. Now, just like an older home, the Social Security system needs fixing. And Congress is grappling with the same sorts of issues that homeowners...

Press motions keeping attorneys hopping. (Oklahoma City Bombing case)
January 17, 1997... With less than three months to go before the start of Timothy McVeigh's trial, prosecutors and the defense teams in the Oklahoma City bombing case have plenty to do. No doubt they are interviewing potential witnesses; poring over documents;...

Lakewood firm forges bombing trial links; Ceavco Audio-Visual wins government, TCI bids to broadcast court proceedings.(Small Business Strategies)(Company Profile)
January 17, 1997... Lakewood's Ceavco Audio-Visual Inc. will help bring Oklahoma City to Denver and news coverage of the Oklahoma City bombing trial to the rest of the world. Officials confirmed the company will build a remote video link allowing witnesses and...

Finding employees in a tight labor market: small businesses seek ways to woo potential recruits.(Small Business Strategies)
January 17, 1997... With declining unemployment rates making it increasingly difficult for Colorado employers to find employees, small businesses are scrambling for ways to recruit. Last November, the jobless rate in Colorado fell to 3.7 percent, compared to an...

Diverse staff makes all the difference.(Small Business Strategies)
January 17, 1997... Recruiting employees in the Denver market is tough, but recruiting multi-cultural candidates can be even tougher. Susan Burks, president of Burks/Butler, said while the 10-person staff at her Denver-based PR and advertising agency is diverse,...

Volatile market sends mixed signals; are stocks near the top? Denver fund managers weigh in on jittery cycle.(Special Report: Your Money)
January 17, 1997... Watch a top spin and the circles it makes usually get larger and larger near the end. The bull market in U.S. stock has behaved like a top the last few weeks. Up sharply one day, down even sharper the next, and often both directions in the...

Job hunters share insights on job market.(Small Business Strategies)
January 17, 1997... Economists have said an earful about metro Denver's economic boom and the current job market. But what are recent job seekers finding as they pound the pavement? And what are they learning? Linda Main is the first to admit she was naive when it...

Beware tax pitfalls of mutual funds.(Special Report: Your Money)
January 17, 1997... Many investors do not think about the adverse effect of taxes on their investment returns. Taxes, however, are a significant consideration if you have assets subject to income and capital-gains taxes - assets that are not in individual...

IRA changes allow couples to save more. (individual retirement account)(Special Report: Your Money)
January 17, 1997... In August, the most important change to individual retirement accounts in a decade was signed into law. With the change, Congress increased significantly the amount of money a couple with a non-earning spouse can contribute to IRAs. Effective...

Some computer jobs are no-win situations.(Small Business Strategies)
January 17, 1997... How to avoid getting in over your head In 1984 I thought I was interested in a new position being created by the company I worked for. It was called Director of Information Services. I remember my boss urging me not even to apply: "It's really...

Manage workers' comp as cost center.(Special Report: Your Money)
January 17, 1997... In Colorado, there's a lot of good news for employers who pay for workers' compensation insurance. For the fourth year in a row, rates have gone down. Part of this welcome decrease is due to a 1991 change in state law that reduced benefits and...

Colorado can't afford to wait for this dereg. (telecommunications industry)
January 17, 1997... US West Communications has taken some Baby Bell steps toward operating in a more competitive environment for telecommunications services. In announcing its plan to create three new bundles of service - for home-based businesses, for...

Preservationists tap gaming proceeds to chronicle historic neighborhoods.
January 17, 1997... Gambling in high-rollin', turn-of-the-century Colorado towns has been a godsend for historic preservation efforts as another century ends. Yes, $30.6 million for historical projects has been allotted since 1992 by the Colorado Historical Fund,...

Denver lands VentureStar HQ role. (Lockheed Martin Corp.'s rocket ship program)
January 31, 1997... Lockheed Martin Corp. has designated Denver as the headquarters for the wedge-shaped successor to the space shuttle, giving the company's Jefferson County complex a multibillion-dollar mission that will last well into the next century. The...

Drilling back to the future; St. Mary taps venerable Texas basin. (St. Mary Land and Exploration Co.)
January 31, 1997... While independent oil and gas companies have rushed to stake claims in the Lodgepole play of North Dakota, the Gulf Coast or abroad, one Denver player has hit pay dirt in the venerable East Texas Basin. St. Mary Land & Exploration Co. has...

A game of chance, politics and history.
January 31, 1997... We may not know who won the G-7 venue sweepstakes until the June economic summit in Denver is finished. That's because the G-7 meetings themselves represent one of the world's last great examples of the politics of smoke-filled rooms. The...

Mammoth woes hurt Exabyte; Boulder company shuffles to execs. (Boulder, CO)
January 31, 1997... Exabyte Corp. has Mammoth troubles. The Boulder storage company's inability to unkink the production of its next-generation tape drive - a well-received but scarce product called Mammoth has been so chronic that many insiders say the problems...

Real estate name of the game for Vail; as resort owner grows, land development brings in more revenue. (Vail Resorts in Colorado)(Special Report: Power in the Mountains)
January 31, 1997... Colorado's sprawling, faux Bavarian Vail ski resort already is characterized as New York City West by many ski-area insiders because it's so developed. And Vail owner Vail Resorts Inc.'s impending acquisition of more major ski areas - Ralcorp...

Road advocates seek voter 'contract'; ballot key as Colorado leaders slash spending plan to $6 billion.
January 31, 1997... Voters this fall may see a "Contract with Colorado" ballot initiative seeking $2.5 billion over 10 years for roads, bridges and mass transit. The Colorado Transportation Network, which is heading up an effort to win more infrastructure...

Warren Miller 3-D film taking a Cinema Ride.
January 31, 1997... Warren Miller Entertainment Inc., for nearly a half-century the world s best-known producer of ski and snowboard films, is wrapping up its latest movie of snowy thrills and chills. Don't expect to see the latest Miller epic in a theater nearest...

PCS key to cutting delays; U S West has fix for service woes. (personal communications systems; U S West Communications Inc.)
January 31, 1997... U S West Communications Inc.'s drive to package wireless services with its core wired business is part of its strategy to cope with held service orders, the company's vice president of wireless services said. "Wireless allows us to provide...

Sacrebleu! How not to blow it at G-7. (Group of Seven)
January 31, 1997... When the G-7 international economic conference is held in Denver this June, the city will have the opportunity to strut its stuff to the world. The question is, will we know how to behave? To help the city put its best foot forward for world...

A tale of two Vails: ascent of the bottom line. (Vail Resorts Inc.)(Special Report: Real Estate)
January 31, 1997... Not so very long ago, there was a publicly traded resort company called Vail Associates Inc. In the now-forgotten 1980s, Vail, Colo., was a place where executives could predict daily revenue by the length of the lift lines at 10 a.m. at the...

Blue Cross has its turn under state microscope. (Blue Cross Blue Shield of Colorado)
January 31, 1997... As part of its new investigation of the health-care industry in Colorado, the state Division of Insurance is studying Blue Cross Blue Shield of Colorado for possible violations of state laws governing how health plans advertise and market...

Wall St. mogul holds key to Vail's future. (Leon Black; Vail Resorts Inc.)(Special Report: Real Estate)
January 31, 1997... Leon Black has something to prove. The head of Purchase, N.Y.-based buyout specialist and Vail Resorts Inc. owner Apollo Advisors LP, Black admits he hopes to use his own company to remove some of the taint from his former employer, investment...

TRW, Lockheed score with Buckley contract. (Lockheed Martin Corp.)
January 31, 1997... Defense contractor TRW Inc. will team with rocket manufacturer Lockheed Martin Corp. to fulfill a 10-year, $1 billion "black box," or secret, contract at TRW's new Aurora facility, informed sources said. The flow of intelligence dollars to...

Disney of resort owners stakes Colo. claim; land development drives Intrawest.(Special Report: Real Estate)
January 31, 1997... Don't call Intrawest Corp. slick. The Vancouver-based ski resort owner, which will crack the Colorado market with its purchase of Copper Mountain, has been compared to corporate machines such as the Wait Disney Co. and Club Med because of its...

Wireless companies await city ruling on tower sites.
January 31, 1997... Wireless companies are dead in the water for the next five weeks while Denver city officials mull over proposed rules concerning siting of new towers and antennas in Denver neighborhoods. Denver City Councilwoman Debbie Ortega filed an...

Amoco jobs at stake in Colorado.
January 31, 1997... Layoffs are imminent at Amoco Corp.'s operations in Colorado. The company, employing about 1,000 people in the state, is reorganizing its North American operations and that means dropping the ax on people and projects that aren't reaping enough...

Tom Norton's 'takings' proposal reborn for '97. (property rights law)
January 31, 1997... Expect local governments and business to lock horns this session on some tough issues, mainly taxation and property rights. A bill on takings, shorthand for the loss, of use or value in private property because of government action, returns in...

Resort hotels fight cyclical economies.(Special Report: Real Estate)
January 31, 1997... Up-and-down seasons stymie development During the peak of Colorado's ski season, Robert Dallain has 430 employees at his award-winning Hyatt Regency Beaver Creek hotel. A few months later, during the "mud season," that number dwindles to as...