Austin Business Journal articles from April 2001

Austin Business Journal archives from April 2001

NE Austin project on tap.(northeast business park, Austin, Texas)(Brief Article)(Statistical Data Included)
April 6, 2001... Irving developer proposes office, warehouse complex that would offer more than 370,000 s.f. An-Irving developer is preparing to build 371,200 square feet of speculative warehouse and office space in what will be the first phase of a 300-acre...

Startup takes a gamble.(Compulsive Development Ltd.)(Brief Article)
April 6, 2001... Three former workers from Origin, Human Code bet on gaming firm Let the games begin -- again. Three executives formerly with game development companies Origin Systems Inc. and Human Code Inc. have teamed up to create an Austin startup....

A contrite Bradley?(Gary Bradley, Austin, Texas)(Brief Article)
April 6, 2001... A number of high-profile eyebrows were raised when controversial developer Gary Bradley submitted a draft version of a bill to Texas Rep. Rick Green (R-Dripping Springs) without the Austin City Council's blessing. But the eybrows arched...

Flying the koop.(drkoop.com Inc.)(Brief Article)(Statistical Data Included)
April 6, 2001... One of Austin's former dot-com darlings, drkoop.com Inc., has bid a final farewell to Central Texas. The online health care content company, which moved its headquarters in January to Santa Monica, Calif., left its former. Austin home at...

Classier cattle.(Texas Land and Cattle Co. opens new restaurant)(Brief Article)
April 6, 2001... Texas Land & Cattle Co. has opened a new, upscale steakhouse on South I-35 at Stassney Lane. The fourth of the company's Austin restaurants will differ from its predecessors. Diners will first notice the softer floor, which will be...

B-I-N-G-O!(Littlefield Corp.)(Brief Article)
April 6, 2001... It didn't take much for Austin's Littlefield Corp. to figure out where to hold its annual meeting this year. Shareholders will gather April 26 at one of the company's charitable bingo halls -- American Bingo Paradise at 1919 E. Riverside...

Getting to know all about you.(Karen Rider, private investigator on Dateline NBC)(Brief Article)
April 6, 2001... Yet another Austin resident will make her debut on national television -- but no one knows quite when we'll be able to tune her in. After nearly 100 interviews with private investigators around the country last year, producers from NBC's...

Lights, camera, action.(2001 Austin Film Festival contracted Chrisman Group)(Brief Article)
April 6, 2001... The Chrisman Group is dipping its quill into the film industry's ink pot. The Austin public relations agency was picked to represent the 2001 Austin Film Festival, which focuses on the writer "as the heart of the film process." The...

Manager cleans up.(Meghein Robinson awarded, The Maids International)(Brief Article)
April 6, 2001... Meghein Robinson has managed to sweep up a major award. Robinson, manager of The Maids International franchise in Del Valle, has been crowned "Manager of the Year" by the Omaha, Neb.-based company. Robinson, who has been an operations...

Downtown palette.(Fine Arts Festival, Austin, Texas)(Brief Article)
April 6, 2001... Downtown Austin will get a creative boost this weekend from the 51st annual Fine Arts Festival. The Austin Museum of Art Guild recruited 180 national artists to set up shop along Fifth and Guadalupe streets from 11 a.m.-8 p.m. April 7 and...

Exec faces porn charges.(Michael L. Rakieten)(Brief Article)
April 6, 2001... An Austin high tech executive has been indicted on 30 counts in An Austin high tech executive, Williams on County related to child pornography. Michael L. Rakieten, a former marketing executive at Tanisys Technology Inc. and Dell Computer...

Austin airport may benefit from San Antonio noise woes.(Brief Article)
April 6, 2001... SAN ANTONIO -- City leaders are concerned San Antonio's $4 billion tourism industry could be negatively affected if the city doesn't soon put in place a coordinated plan to effectively manage noise and growth at San Antonio International...

Houston energy costs less In Dallas.(Brief Article)
April 6, 2001... HOUSTON -- People in Dallas and other parts of the state who choose to buy their electricity from Houston-based Reliant Energy this summer will pay less than Houston consumers for the same amount of energy. Reliant/HL&P customers here pay...

Popular mall sells for $145 million.(General Growth Properties Inc. buys Willowbrook Mall)(Brief Article)
April 6, 2001... HOUSTON - Chicago-based mall operator General Growth Properties Inc. paid nearly $145 million to acquire Willowbrook Mall in northwest Houston last week, just months after the property was put on the selling block. The...

Gresham, Davis law firm merges with Jackson Walker.(Brief Article)
April 6, 2001... SAN ANTONIO - One of the city's oldest law firms is joining forces with another mainstay of the state's legal arena. Locally based Gresham Davis Gregory Worthy and Moore moved eight of its attorneys to the law firm of Jackson Walker LLP...

Title company fight pits top dog, startup.(American Title Co.)(Brief Article)
April 6, 2001... DALLAS - Over the past few months, Marc Miller has learned how to be a patient man. He's had to temper his aggressive nature and entrepreneurial bent in an effort to hold together the largest title company in Texas. Miller was named...

Credit union seeking land.(Randolph-Brooks Federal Credit Union)(Brief Article)
April 6, 2001... SAN ANTONIO - John Kelly, senior vice president of planning and marketing for the Randolph-Brooks Federal Credit Union, says the lender is looking for 10 to 20 acres for a new administrative service center. The building would house the...

Trying to stay current.(Austin, Texas, area's semiconductor fabrication market)(Brief Article)(Statistical Data Included)
April 6, 2001... Local effort to attract AM D'S next fab is reaction to industry move to new chip Local efforts to get a 300mm semiconductor fab in Central Texas go beyond a desire to be state of the art They include a fear of becoming obsolete. While...

Officials say they'll play.(Advanced Micro Devices Inc. looks for plant site)(Brief Article)
April 6, 2001... Past reticence to offer tax incentives, halt on recent deals doesn't deter AMD pitch Although government leaders have been hesitant to offer substantial tax incentives to draw business here in the past, those officials say a package is...

Water, speed crucial in deal.(talks between Advanced Micro Devices Inc., Greater Austin Chamber of Commerce)(Brief Article)
April 6, 2001... After months of talks, chamber and elected officials say chip Co. will get a tailored proposal Local community leaders say any incentive package meant to lure Advance Micro Devices Inc.'s next generation chip plant to the area will include...

Who else is wooing?(new Advanced Micro Devices Inc. plant)(Brief Article)
April 6, 2001... Competitors for new plant are likely from across the nation and around the world Chip manufacturer Advanced Micro Devices Inc. says it isn't soliciting proposals for its planned state-of-the-art 300mm plant But that isn't stopping economic...

VC funds might invest $100M in local startups.(venture capital companies, Murphree and Co., Sanchez Capital Partners)(Brief Article)(Statistical Data Included)
April 6, 2001... Two Austin area venture capital firms are raising funds that could promise as much as $100 million for Austin startups. Houston-based Murphree & Co. has closed on $35 million of Fund V, which is planned for a total of $100 million to $150...

ClearCube gains $20M in third round.(ClearCube Technology Inc.)(Brief Article)(Statistical Data Included)
April 6, 2001... Austin-based ClearCube Technology Inc. has attracted $20 million in third-round funding. Munich, Germany-based Techno Venture Management led the round, along with San Diego-based SAIC Venture Capital Corp. Returning investors include...

Bioscience startup set to beef up its workforce.(GenomicFX Inc.)(Brief Article)
April 6, 2001... An Austin bioscience startup that focuses on livestock improvement is aiming to add 20 employees to its current staff of 30 as it prepares to expand into poultry and seafood. GenomicFX Inc. also recently acquired an Australian livestock...

Divine purchases MarchFirst offices.(Brief Article)(Statistical Data Included)
April 6, 2001... Divine Inc. [Nasdaq: DVIN] is entering the Austin market by way of acquisition. The Chicago-based company, formerly known as divine interVentures, bought some of the assets of consulting firm MarchFirst Inc. [Nasdaq: MRCH] for $70 million....

TManage Inc. (Austin).(layoffs)(Brief Article)(Statistical Data Included)
April 6, 2001... TManage Inc., a telecommuting services company, laid off 30 of its 195 employees April 3 in an effort to reach profitability, including 24 people at its Austin headquarters. Laid-off workers will receive severance packages and job...

Digital:Convergence Corp. (Dallas).(bar code scanner)(Brief Article)(Statistical Data Included)
April 6, 2001... Public acceptance apparently has been slower than expected for Digital:Convergence Corp.'s much-hyped bar-code scanner, which gives consumers additional Web content about material they see in print or on television. At least two of the...

Compaq Computer Corp. (Houston).(wireless prescription pad)(Brief Article)
April 6, 2001... Houston-based Compaq Computer Corp. has struck a $100 million deal with a Chicago-based health care company that could prove to be a prescription for success for Compaq's iPAQ Pocket PC. Compaq and Allscripts Healthcare Solutions announced...

California Public Utilities Commission (San Jose).(rate hike)(Brief Article)(Statistical Data Included)
April 6, 2001... Electricity-intensive technology businesses will bear the brunt of the rate hike passed March 27 by the California Public Utilities Commission. They will shoulder increases of up to 87 percent, which will severely hurt the Silicon. Valley's...

Greenmachine LLC (Atlanta).(investment company layoffs)(Brief Article)
April 6, 2001... Like other local technology incubators, Greenmachine LLC is getting out of the incubator business. The 1-year-old Greenmachine has scaled back its business as the technology shakeout continues to rock early-stage companies. Over the...

Infraworks works deal to move to Bee Caves.(Brief Article)
April 6, 2001... An Austin-based Internet security company has doubled its space with a move late last month from downtown's Lavaca Plaza. Infraworks Corp. moved out of downtown to a three-story building on Bee Caves Road. "Our lease was up in April,...

Longview school to open satellite campus in Austin.(LeTourneau University)(Brief Article)
April 6, 2001... Working adults in Austin soon will have one more option to seek college degrees without dropping out of the workforce to take classes. LeTourneau University plans to open a satellite campus in North Austin to offer its accelerated adult...

NW Austin site changes ownership, leasing firm.(Brief Article)
April 6, 2001... The lender for a 205,000-square-foot office project in Northwest Austin has changed the owning partnership and switched leasing companies. The title for Park 22, a three-building complex on the south side of RR 2222 west of Loop 360, has...

Exodus Communications purchases two buildings.(from Transwestern Commercial Services)(Brief Article)
April 6, 2001... Exodus Communications Inc. has purchased the buildings it previously leased in Northeast Austin. Exodus first leased the 178,000-square-foot Cameron Road Corporate Park in the summer of 1999. Transwestern Commercial Services developed the...

Commemorative Brands acquires Illinois company.(Brief Article)
April 6, 2001... Austin-based Commemorative Brands Holding Corp. has acquired Lake Forest, Ill.-based Educational Communications Inc. Terms of the deal weren't disclosed. Educational Communications publishes directories recognizing academic achievement...

New York company purchases SicolaMartin.(Brief Article)
April 6, 2001... Austin-based advertising and marketing firm SicolaMartin has been acquired by Y&R Advertising, a division of New York-based Young & Rubicam Inc. Financial terms of the deal weren't disclosed. SicolaMartin reported revenue last year of...

Daily updates available on Business Journal Web site.
April 6, 2001... For the latest-breaking business news from- Austin, pull up the Austin Business Journal's Web site at (austin.bCentral.com). Each day, the Business Journal posts news from the area that breaks between our weekly deadlines. The news...

Drug company recieves $20 million investment.(Brief Article)
April 6, 2001... Austin-based Introgen Therapeutics Inc. will receive a $20 million investment from Frankfurt, Germany-based Aventis Pharma as part of a restructuring of an existing collaboration arrangement. With the deal, Aventis Pharma, the...

Austin airport traffic up in February.(Brief Article)(Statistical Data Included)
April 6, 2001... Passenger and cargo traffic rose Austin-Bergstrom International Airport in February. Nearly 543,000 passengers traveled in that month, a 1.4 percent increase over February 2000. Air cargo at ABIA totaled 25.1 million pounds, up 3.2...

Ergonomics injuries decline.(Brief Article)
April 6, 2001... A new report from the U.S. Bureau of Labor Statistics shows a decline in the number of work-related musculoskeletal disorders -- the soft-tissue injuries targeted by the recently repealed ergonomics regulation. Employers reported 582,300...

An Eclectic place.(Ecletic Furniture and Folk Art, Austin, Texas)(Brief Article)
April 6, 2001... Shop takes unique angle on retailing The shop at 700 N. Lamar Blvd. clearly isn't a typical place. No cookie-cutter merchandise here. Brightly colored fantastical creatures cover a table, tile and punched metal mirrors fill one wall...

Two Internet competitors, two approaches.(FastWeb Inc., CollegeCapital.com)(Brief Article)
April 6, 2001... Despite the gloom generated by the demise of thousands of online businesses, the Internet still offers solid business opportunities if your business model is narrowly focused on a target market. Two small companies serving college-bound...

Legislation would help Texas subcontractors.(Brief Article)
April 6, 2001... Two companion bills were introduced recently in the Texas Legislature that would provide unprecedented assistance to small businesses interested in becoming more competitive in the state procurement arena. House Bill 1542 and Senate Bill...

California company to acquire DTM Corp.(Brief Article)
April 6, 2001... Valencia, Calif.-based 3D Systems Corp. [Nasdaq: TDSC] is acquiring Austin-based DTM Corp. [Nasdaq: DTMC] in a stock deal valued at $45 million. 3D Systems will purchase all the outstanding shares of common stock of DTM for $5.80 a share...

San Jose airport signs up for service from Wayport.(Brief Article)
April 6, 2001... San Jose International Airport has become the first airport in California and fourth in the country to offer portable Internet service from Austin-based Wayport Inc. About 11.5 million passengers a year pass through the San Jose airport....

GSD&M picks up Prodigy account.(Brief Article)
April 6, 2001... Austin-based Internet service provider Prodigy Communications Corp. [Nasdaq: PRGY] has awarded its creative and media advertising account to GSD&M of Austin. Prodigy plans to launch a multimedia campaign later this year. AdWeek.com...

Send in the 'cyber squad'.
April 6, 2001... As Internet fraud reaches further into Austin businesses, law enforcement methods adapt For a $10 administration fee, interested investors could obtain 100 stock credits and exchange those for common stock when an impending public offering...

'Never too young' when it comes to college funds.(Brief Article)
April 6, 2001... Congratulations! It's a boy. Now, how do you plan on paying for his college education? With the diaper changes and hourly feedings, who has time to think about a newborn's college career? Yet, the day he is born, that baby is eligible to start...

Retirement savings list finds Austin lags behind.(International Netherlands Group survey on savings)(Brief Article)(Statistical Data Included)
April 6, 2001... Saving money is a challenge no matter where a family lives, but a recent survey claims trying to save money in Austin is harder than in other cities around the country. Austin-San Marcos is ranked 81st of the 125 largest metropolitan areas in a...

VC money continues to fund Austin companies.
April 6, 2001... There seems to be no question that the period of "irrational exuberance" -- the term coined last year by Federal Reserve Chairman Alan Greenspan to characterize financially unsustainable market highs -- is over. Layoffs, company closures and...

Finance officers draw business bottom line.(Brief Article)
April 6, 2001... Hiring a top finance professional may be the most important business decision a company can make in today's crazy economy. When companies come off the initial public offering high and awaken to the reality the good times may not always be...

LARGEST BANKING INSTITUTIONS.(Brief Article)
April 6, 2001... LARGEST BANKING INSTITUTIONS BANKS WITH AUSTIN-AREA HEADQUARTERS Ranked by total local deposits as of Dec. 31, 2000 Bank name Total local 2000 Address deposits [*]/...

LARGEST BANKING INSTITUTIONS.(Brief Article)
April 6, 2001... LARGEST BANKING INSTITUTIONS BANKS WITH AUSTIN BRANCHES Ranked by total local deposits as of June 30, 2001 Name Address Total local Phone/Fax deposits...

PEOPLE.(Brief Article)
April 6, 2001... The Austin Business Journal publishes news about promotions and hirings each week. Listings in People are free. Send a typewritten announcement including the person's name, new position title, the name of the company, job responsibilities,...

Appropriate incentives OK.(Brief Article)
April 6, 2001... Central Texas will have to give to business to get next generation jobs and stay on cutting edge We just may have gotten fat and sassy. And it could lead to much leaner times. Yes, Central Texas is a great place to call home. We have a...

Greeting grabs you wrong.(basic handshake)(Brief Article)
April 6, 2001... It's hard to know how to say hello anymore. And it's even harder to know under what auspices you're doing business. Because a handshake just isn't a handshake anymore. Some might say it's an evolution, some might use de-evolution. But a...

Electrosource re-energizes.(Brief Article)
April 13, 2001... Stock purchase allows battery maker to resume production. San Marcos' Electrosource Inc. got the green light earlier this month to rev up production after nearly three months of being shut down. Its majority owner, Kamkorp Ltd.,...

E&Y leadership changes.
April 13, 2001... Kay Matthews, managing partner of Ernst & Young LLP's Austin office since 1999, is relinquishing her local role to head one of the accounting firm's practices for the Gulf Coast region from Houston. Taking her place in Austin is Mike Blue,...

Leaping into a new arena.(Brief Article)
April 13, 2001... Austin startup FrogTrader sells liquidated sporting goods online Selling golf clubs online might not be up to par in today's volatile economy, but one local executive remains in the game. David Schofman, founder of igogolf.com Inc.,...

Anniversary surprise.(Brief Article)
April 13, 2001... More is planned for April 16's 50th anniversity celebration of local public relations firm Read Poland than accolades for founder Julian Read. Sources familiar with the deal say the event at the Four Seasons Hotel Austin will include an...

Costco coming.(Brief Article)
April 13, 2001... The Sam's Club on Research Boulevard soon will have one of its chief competitors open down the street. Costco Wholesale Corp. is building a 150,000-square-foot warehouse on the east side of Research Boulevard just south of Braker Lane. The...

Marrying two strengths.(Brief Article)
April 13, 2001... It might not have been part of their business plan, but Isochron Data Corp.'s co-founders took their business relationship one step further -- they got married. Isochron's chief strategy officer, Aruni Gunasegaram, and chief technology...

Making the downturn obsolete.(Brief Article)
April 13, 2001... It's not the general economic downturn that's caused turbulence in technology but problems in tech that have opened a trapdoor on the economy, according to Ashok Kumar, technology analyst from U.S. Bancorp Piper Jaffray. Speaking to a...

Model golfer.(Brief Article)
April 13, 2001... Supermodel-turned-businesswoman Kathy Ireland says she's happy to support this year's Ladies Professional Golf Association tournament in Austin because of its history of making it possible for women of all ages and backgrounds to enjoy golf....

Business camp.(Brief Article)
April 13, 2001... Three Austin high school students scored $5,000 scholarships from the Rotary Club of Austin at a camp focused on business skills. The Rotary Camp Enterprise scholarships have been $500 in past years but were supplemented this year with...

CORRECTIONS.(Correction Notice)
April 13, 2001... A story in the April 6-12 issue of the Austin Business Journal stated that Michael L. Rakieten ran the Austin office of CyberPower Systems Inc. with President Reed Hinkel. Rakieten was part of the management team, which was larger than just the...

Provident, Huffines purchase big tracts.(Brief Article)
April 13, 2001... DENTON COUNTY -- Two Dallas-based developers are snapping up several thousand acres in rural eastern Denton County -- enough land to eventually provide the county with as many as 7,000 new homes. Combined, the projects would rival the size...

Software company scraps call center.(Software Spectrum Inc)(Brief Article)
April 13, 2001... NORTH RICHLAND HILLS -- Garland-based Software Spectrum Inc. has scrapped plans for a 600-employee call center in North Richland Hills and is looking for a sublessor. Software Spectrum leased nearly 73,240 square feet at Richland Pointe, a...

Equipment firm snares $8M.(Symtx Inc.)
April 13, 2001... Symtx hopes funding from New York firm will help drive it down the road toward IPO An 18-year-old Austin company with $75 million in projected revenue this year has landed $8 million in first-time outside capital to help it go public in...

Gauging ups, downs.(survey of 802 working Austinites by The Benchmark Co.)
April 13, 2001... New survey shows concern about layoffs, traffic congestion but faith in Austin's future Austin residents are beginning to show the stress of recent job layoffs and increasing traffic congestion. That's the indication from a new survey...

Vignette goes after debts.(Vignette Corp.)
April 13, 2001... Software company files 13 lawsuits in effort to recoup about $2.5 million in payments Vignette Corp. is trying to round up about $2.5 million in allegedly outstanding payments through more than a dozen lawsuits filed in Travis County...

Firm gains $22.5M.(Oasis SiliconSystems AG)
April 13, 2001... Networking company Oasis secures first-round funding from international investors Oasis SiliconSystems AG, a high-speed networking company with key operations in Austin, has snagged $22.5 million in first-round funding from a group of...

Oyster to shell out $7M for chain of restaurants.(Stephen Oyster to buy Pancho's Mexican Buffet Inc.)
April 13, 2001... Austin commercial real estate developer and restaurateur Stephen "Duffy" Oyster finally is getting the whole enchilada: He's ready to buy Forth Worth-based Pancho's Mexican. Buffet Inc. for $7 million and take the company private. The...

Temple-Inland to buy two container makers.(Temple-Inland Inc.)(Brief Article)
April 13, 2001... A subsidiary of Austin-based Temple-Inland Inc. [NYSE: TIN] has reached an agreement to acquire two subsidiaries of Chesapeake Corp. for $120 million. Inland Paperboard and Packaging Inc., a Temple-Inland subsidiary based in Indianapolis,...

$36M telecom park set near Austin-Bergstrom.
April 13, 2001... An Austin developer is seeking approvals to build more than 400,000 square feet of industrial space near Austin-Bergstrom International Airport. Telecom Park is expected to be a $36 million project when fully developed. Brock...

Brown McCarroll partner to be federal magistrate.(Brief Article)
April 13, 2001... A partner at Austin-based Brown McCarroll LLP has been chosen as a federal magistrate in Waco. Jeffrey Manske was selected for an eight-year term on the federal bench. He was picked by judges in the U.S. District Court's Western District...

Emerging and Akili (Houston).(merger of high tech consulting companies Emerging and Akili called off)(Brief Article)
April 13, 2001... The merger of two high tech consulting companies -- Emerging and Akili -- was called off at the 11th hour. Dallas-based Akili announced in late February that it would merge with Emerging, but did not disclose the terms of the deal. The two...

Chase H&Q (Raleigh/Durham).(reports contract manufacturers are suffering from lack of demand for telecom and networking equipment)(Brief Article)
April 13, 2001... Contract manufacturers are suffering from a lack of demand for telecom and networking equipment caused by the technology recession, and industry observers say the companies aren't finished cutting jobs yet. Chase H&Q analyst Roger Norberg...

TechNet (San Jose).(members of President Bush's Cabinet meet with Silicon Valley PAC TechNet)(Brief Article)
April 13, 2001... The Bush administration, still smarting from its big loss in California last year, has begun to reach out to Silicon Valley executives in hopes of re-establishing itself in the state for 2004. Twice in recent weeks, members of President...

InfoSpace Corp. (Seattle).(owes employees an estimated $3 million to $5 million in unpaid overtime)(Brief Article)
April 13, 2001... Current and former employees of InfoSpace Corp. of Bellevue, Wash., are due an estimated $3 million to $5 million in unpaid overtime, a federal audit has found. The audit, disclosed in the Internet company's annual report with the U.S....

Dallas company cancels Southern Therapy deal.(Airtech International Group Inc.)(Brief Article)
April 13, 2001... The sale of two Austin companies that was supposed to be wrapped up by the end of January has been called off. In November, Dallas-based Airtech International Group Inc. unveiled plans to purchase privately held Southern Therapy Inc. and...

163,000 s.f. of offices set along Southwest Parkway.(Brief Article)
April 13, 2001... City of Austin staff has recommended approval of more than 163,000 square feet of office space in Southwest Austin. The site plan for the project, called Oak Hill Technology Park, is scheduled to go before the Planning Commission on May 1....

Austin Energy sues over allegedly poor software.(Brief Article)
April 13, 2001... Austin Energy claims a Colorado company sold it faulty sofware that resulted in about $6 million in costs as well as legal fees. Austin's municipal utility filed a lawsuit March 9 against Englewood, Colo.-based Convergent Group Corp. The...

Intel fellow joins Jato as partner.(JatoTech Ventures)(Brief Article)
April 13, 2001... Austin's JatoTech Ventures has hired a new venture partner -- Dan Ray, a former Intel Corp. "fellow" and co-founder of Level One Communications Inc. Most recently, Ray worked in Sacramento, Calif., as an Intel fellow -- the highest...