Denver Business Journal articles from June 1997

Denver Business Journal archives from June 1997

Ag exports top $1 billion. (Colorado's agricultural exports)
June 6, 1997... Jim Wyatt, general manager of Piedmont Farms Inc. near Fort Collins, is crowing about the fact that exports of an exotic squash will boost the company's revenue to the $10 million mark this year. Piedmont Farms grows kabocha squash in Colorado...

Spinoff talk lifts cable giant; deal making remolds U S Media Group.
June 6, 1997... During the past six weeks, U S West Media Group has unloaded some $6 billion in debt, merged its domestic wireless operations with AirTouch Communications and shuffled its directory-publishing unit, called Dex, back to sibling U S West...

Ascent starts over; disastrous Comsat era ends, but questions linger. (Ascent Entertainment Group Inc.)
June 6, 1997... In its 1994 annual report, Comsat Corp. crowed about its successful management of the Denver Nuggets basketball team, boasting increased revenue and splashing the image of star center Dikembe Mutombo across one page. Today, Mutombo plays for...

On top of the world: Colorado shows why U.S. leads the pack.(Summit of the Eight)
June 6, 1997... Twenty years ago, Coors beer was an exotic beverage in Massachusetts, and little more than 10 years ago, the brewery known for its Rocky Mountain spring water could only be found in the United States. Today, beer drinkers in 35 countries can...

Business failures on rise. (Colorado)
June 6, 1997... Report shows growth slowing In a potential sign of a winded economy, Colorado experienced the sharpest increase in business failures of any state. Business failures in Colorado jumped more than 50 percent last year, according to The Dun and...

Finding their niche: older malls make family-friendly sales pitch.
June 6, 1997... When plans called for a new shopping center in Douglas County just 10 minutes from Southglenn Mall, marketing director Rocell Melohn was a little nervous. She knew the "curiosity factor" that goes along with any new shopping center could...

Award finalists represent best of the best; Ernst & Young's Entrepreneuer Of The Year nominees exemplify enterpreneurial spirit.(Entrepreneur of the Year)
June 6, 1997... What a pleasure it is to once again turn the brightest of spotlights on the best entrepreneurs in the Rocky Mountain region. Of all the things we do at Ernst & Young LLP, there is nothing which excites us and warms our collective hearts like the...

Speculation swirls over Amoco selloff. (Amoco Corp.)
June 6, 1997... Independents may buy into Julesburg basin Amoco Corp.'s divestiture of its assets in the Wattenberg field of Colorado has set the industry abuzz with speculation about who the possible buyers will be. The obvious candidates are the two...

Colorado mines former Soviet republics; state's mineral, environmental, energy companies active in Russia and neighboring countries.(Summit of the Eight)
June 6, 1997... Colorado investments in the former Soviet Union have topped the $500 million mark. Now, the question is: How much higher can they go? One study conducted by Western oil and gas concerns showed that six proposed oil and gas joint-venture...

Lockheed Martin launches bold rocket bid; Russian-designed RD-180 engine powers U.S. defense giant's proposed Titan replacement.(Summit of the Eight)
June 6, 1997... When asked if working on a Russian rocket engine in Lockheed Martin Astronautics' Waterton Canyon facility has any surreal qualities, Bob Ford shrugs off the notion. "There's nothing surreal about it," said the director of booster propulsion...

Stonehenge plans Internet offering. (Stonehenge Business Systems Corp.)
June 6, 1997... Service provider offers up to 330, 000 shares at World Wide Web site Stonehenge Business Systems Corp. plans to offer stock to the public through a venue it knows well, the Internet. In the state's first Internet securities offering, or ISO,...

An export 'tiger' emerges in the heartland; Colorado trade totals $4.8 billion in '96, led by telecom, high tech.(Summit of the Eight)
June 6, 1997... From software to cellular phone networks to sake, Colorado's trade with the Summit of the Eight countries is riding high. Two million European households get their cable television service or telephone service from companies owned by...

The quest for maximum benefits: how to get the most bang for your buck.(Small Business Strategies)
June 6, 1997... The 423,909 Denver-area residents who work for businesses with fewer than 50 employees typically pay a price to work for their employer. That's because most small-business employees don't get the kinds of employee benefits they might if they...

Colorado at a glance.(Summit of the Eight)
June 6, 1997... Leading indicators (for March 1997) Regional oil rig count up Housing permits up New business phones down Colo. stock prices down Help wanted ads down Materials...

United: we'll trade jobs for tax break. (United Air Lines seeks exemption from sales and use taxes for maintenance work done at Denver International Airport)
June 13, 1997... United Airlines has asked the city and county of Denver to exempt aircraft maintenance work at Denver International Airport from a 3.5 percent sales and use tax. But the city wants hard numbers before it makes a decision. Denver could gain...

Road plan opponents get in gear. (Colorado Statewide Long Term Transportation Needs Act of 1997)
June 13, 1997... But voters seem ready to approve gas levy A proposed ballot initiative to raise $2.4 billion for transportation projects across the state is meeting opposition even before the ink dries on its petitions. An immediate threat is expected from...

Steamboat's dilemma. (Intrawest Corp. offers to buy Steamboat Ski and Resort Corp.)
June 13, 1997... Intrawest may be angling to buy out Japanese Vancouver-based Intrawest Corp., one of North America's largest ski-resort owners, may once again be trying to buy the Japanese-owned Steamboat ski area in the northwestern part of the state,...

Hangar leaves Indy hanging with debt. (Indianapolis Mayor Stephen Goldsmith wins approval for financial package to pay off debts incurred in building United Air Lines' maintenance facility)
June 13, 1997... Denver lost bid for United Airlines' facility in 1991 For those who still lament Denver's loss of a $1 billion United Airlines maintenance facility to Indianapolis in 1991, put away your handkerchiefs. After a five-year struggle,...

Red tape may stall Murdoch. (merger of ASkyB and Primestar Inc. to face legal obstacles)
June 13, 1997... ASkyB, Primestar face legal obstacles Folding ASkyB, the satellite venture between News Corp. and MCI, into Primestar Inc., the rolled-up direct-broadcast satellite partnership of the five largest cable operators, may prove to be more difficult...

Drilling industry hits dry labor well. (Colorado's oil and gas drilling industry is facing a shortage in manpower)(Industry Overview)
June 13, 1997... Colorado's oil and gas drilling industry is experiencing a manpower and equipment shortage that could put a squeeze on future exploration efforts. With natural gas pulling in more than $2 per thousand cubic feet and oil fetching between $18.50...

GE, Pauls powerful duo in Denver development. (General Electric Capital Corp.; real estate developer Bill Pauls)
June 13, 1997... General Electric Capital Corp., whose local claim to fame is backing one of the first major new developments near metropolitan Denver's new airport, contributes more than any other business to the wealth of its parent, General Electric Co.,...

Etkin builds 'flex space' in Centennial area. (Etkin Equities Inc. to start construction of business park in Denver, CO)
June 13, 1997... Developer expects to break ground on $18-million Arapahoe Business Center in duly Etkin Equities Inc. of Denver has entered the race to build office space in the hot southeastern suburbs with what it hopes will be a hot product type. The...

Convergent sees riches in small business niche. (Convergent Communications Inc.)(Company Profile)
June 13, 1997... In the scramble to offer competitive local telephone service, small and mid-sized businesses often are overlooked as new phone companies focus their attentions on large customers. But some newcomers see riches in the small fry. Convergent...

Competition barely lowers cost of ISDN.
June 13, 1997... What's wrong with this picture? New entrants competing for local phone service in Denver are offering their large business clients ISDN - integrated services digital network - service. But the price is only about 5 percent less than U S West...

Entrepreneurs honored for accomplishments. (1997 Rocky Mountain Entrepreneur of the Year Awards)
June 13, 1997... CEOs of Sievers Instruments, Ciber among winners A Russian-born immigrant and a teenaged girl were among the seven individuals receiving trophies during the 1997 Rocky Mountain Entrepreneur Of The Year banquet June 12 at the Downtown Marriott...

Class teaches value of 'return on information.' (summer class at Regis University on how businesses can better organize internal computer networks)
June 13, 1997... Regis partners with J.D. Edwards for Knowledge Garden course A summer school course at Regis University in July will teach businesses how to better organize their internal computer networks to give them the greatest return on their investment....

How to build a better team.
June 13, 1997... Entrepreneurs tell which approaches work and which don't Businesses of every type and size are relying on "team building" and comfortable office environments to produce more effective employees. Companies are using everything from...

Hooking overseas markets. (Wright and McGill Co.)
June 13, 1997... Tackle companies cast lures abroad Many Colorado businesses are watching closely as the world's leading economic powers prepare to discuss global trade issues. While the benefits of expansion into the international marketplace are being...

State waves goodbye to export growth. (Colorado exports below US average)
June 27, 1997... Colorado stumbles below U.S. average Colorado exports turned in a fifth consecutive sour quarter despite enough backslapping at the Summit of the Eight to give the state's boosters a collective case of tendinitis from repetitive motion....

US West filing hints at big step. (US West Long Distance Inc.)
June 27, 1997... Long-distance dialing on Baby Bell agenda U S West is inching toward seeking permission to offer long-distance services in Colorado. U S West Long Distance Inc. filed for certification with the Public Utilities Commission to offer several...

Weiss retools StorageTek. (David Weiss; Storage Technology Corp.)
June 27, 1997... Statues of a friendly golden retriever and a beckoning black bear flank the entry to the executive suite at Storage Technology Corp. Despite the unfortunate parallel between the bear and the company's stagnant stock performance, Chairman and CEO...

Real estate board slaps Sensenig. (Colorado Real Estate Commission; Arthur P. Sensenig)
June 27, 1997... Arthur P. Sensenig is in trouble again. The Colorado Real Estate Commission recently yanked the real estate license of the deposed former president of Grease Monkey Holding Corp. for five years. Publicly traded Grease Monkey, which owns a chain...

'Baby steps' for TCI. (Tele-Communications Inc.)
June 27, 1997... All TV rollout going slowly Tele-Communications Inc.'s new All TV digital video service is rolling out in fits and starts in Colorado. The Greeley launch, originally scheduled for June 1, has been postponed to July 1. And TCI's 400,000...

U S West service at a discount. (U S West Inc.)
June 27, 1997... PUC suggests rates to use phone network The Public Utilities Commission has proposed permanent wholesale rates that competitors will have to pay to use U S West's local phone network. An order detailing prices is expected in the next two...

Montoya to Hispanic group: 1 more term. (Ronald Montoya extending his term as Chairman of the United States Hispanic Chamber of Commerce.)
June 27, 1997... As the chairman of the United States Hispanic Chamber of Commerce, Ronald Montoya is savoring the most successful year of the national organization and he's not ready to give it up. When the chamber holds its annual elections July 17, Montoya...

British offer lesson in electricity dereg. (electricity deregulation)
June 27, 1997... Yorkshire CEO knows from experience U.S. electric utilities could learn a thing or two about electricity deregulation from their British counterparts, said Malcolm Chatwin, CEO of England-based Yorkshire Electricity PLC, during a June 19 visit...

Anschutz stealth player in Pennzoil battle. (Philip Anschutz; Penzoil Co.)
June 27, 1997... Colorado billionaire Philip Anschutz is the stealth player behind Union Pacific Resources Group Inc.'s hostile takeover bid for Houston-based Pennzoil Co. Anschutz controls a 5.4 percent interest in the Fort Worth, Texas-based oil and gas...

Meridian targets sectors with Icon funds. (Meridian Investment Management; Icon Technology Fund)(Your Money: A Special Report on Investing, Personal Finance and Taxes)
June 27, 1997... Denver money manager Callahan starts family of mutuals; technology, health care show promise Money manager Craig Callahan isn't trying to find the next Microsoft. The cofounder and chief investment officer of Meridian Investment Management...

Enviro treaty opponents fear fallout for industry. (US treaty to decrease its carbon monoxide emissions)
June 27, 1997... As the world debate over global climate change heats up, local government agencies, environmental groups, economists and industry leaders are marshaling their forces to do battle. The debate has flared up again around President Clinton's vow to...

Fuller tries revamp for edge over chains. (Fuller and Co.)
June 27, 1997... Real estate biz embraces technology Denver-based Fuller and Co., the metro area's fourth-largest commercial real estate brokerage, just spent almost $1 million to move and upgrade its downtown offices. But the new furniture and paint are...

AC industry heats up with series of buyouts. (Air conditioning; American Mechanical Systems Inc.)
June 27, 1997... American Mechanical swallows competitors A couple of Denver-area building-maintenance companies have been gobbled up by one of the country's newest and fastest-growing rollups. Englewood-based American Mechanical Systems Inc. was spawned...

Congress hits 'delete' on extra Internet tax. (additional taxes for Internet-related commerce)
June 27, 1997... Colorado lawmakers rejected effort to squeeze from computerized commerce WASHINGTON - With millions of dollars in potential revenue dangling like a carrot in front of them, local and state governments are sparring with the federal government...

What welfare reform means to small biz. (tax incentives to help welfare recipients)(Small Business Strategies)
June 27, 1997... Tax incentives may benefit entrepreneurs Colorado welfare reform legislation is tempting businesses with the carrot-and-stick approach, offering tax incentives to help welfare recipients enter the work force. Businesses will be able to claim...

Reforms might benefit child-support company. (Policy Studies Inc.)(Small Business Strategies)(Company Profile)
June 27, 1997... Denver-based PSI pioneers privatization A Denver company that grew by leaps and bounds because of the national crackdown on "deadbeat dads" stands to profit even more from the welfare-reform legislation approved by Congress and the President...

Ohio firm buys Denver investigator. (Aset Corp.; Group Dynamics)
June 27, 1997... Dayton, Ohio - Aset Corp. closed on its purchase of Group Dynamics, a Denver-based firm that specializes in interviewing people for white-collar crime investigations. The purchase, which closed June 15, gives the Dayton-based criminal...

Bankruptcy numbers prompting additions. (consumer and business bankruptcies would force additional money into the judicial system)
June 27, 1997... Surge in filings triggers Congress to boost funding for more jurists to hear cases Washington - Skyrocketing consumer and business bankruptcies soon could force the federal government to pour additional money into the judicial system. With...

StrorageTek's big vacancy spells opportunity. (Storage Technology Corp.)
June 27, 1997... The new owner of the sprawling Storage Technology Corp. building in Longmont has drafted a team to refurbish and reposition what could be the biggest vacant building between Chicago and Los Angeles. That group's job is to make the...