Austin Business Journal articles from August 1991

Austin Business Journal archives from August 1991

Contacts and contracts at network lunches. (Business Opportunities for Texans networking luncheons)
August 5, 1991... Contacts and contracts at network lunches Frances Cornejo of J.P. Marketing met Alex Brown of Advanced Micro Devices and, within a year, had a contract to print business cards for the high tech giant. Dottie Barnes of The Frame Corner...

Paving the way to profits. (Pavex Inc., building materials company) (company profile)
August 5, 1991... Paving the way to profits Despite the downturn in construction during the late 1980s, one local building materials company is thriving. Pavex Inc., which makes modular paving stones and retaining walls, plans to double its capacity with...

Donations help city's affordable housing. (five East Austin apartment complexes donated by anonymous donor)
August 5, 1991... Donations help city's affordable housing Five East Austin apartment complexes have been donated to the city to become part of the Scattered Cooperative Infill Housing Project (SCIP), a program to help low-income families own a home. The...

Air traffic climbing. (passenger traffic at Robert Mueller Municipal Airport)
August 5, 1991... Air traffic climbing Passenger traffic at Robert Mueller Municipal Airport continues to climb, but remains down as compared to this time last year. The total number of passengers traveling during the month of June was 360,484, an...

Dell U.K. to appeal. (United Kingdom subsidiary of Dell Computer Corp. to appeal court ruling against advertisements)
August 5, 1991... Dell U.K. to appeal The United Kingdom subsidiary of Dell Computer Corp. has announced it will appeal a court ruling against advertisements comparing its products with those of competitor Compaq Computer Corp. The decision requires Dell...

Treasurer lauds limit. (State Treasurer Kay Bailey Hutchison endorses measure that would place a limit on how much the state can borrow)
August 5, 1991... Treasurer lauds limit State Treasurer Kay Bailey Hutchison is endorsing a measure approved by the Texas House that would place a limit on how much the state can borrow. Hutchison said the amendment, offered by Rep. Rob Junell of San...

Electrosource hurting. (Electrosource Inc. in danger of going out of business)
August 5, 1991... Electrosource hurting Electrosource Inc. is in danger of going out of business unless it can convince the Delco Remy division of General Motors Corp. or another investor to continue funding its research on the Horizon battery. Delco Remy...

Jobs progress slow. (Texas employment statistics)
August 5, 1991... Jobs progress slow "About the best thing that can be said about this month's unemployment statistics is that the indicators are at least going in the right direction," said Texas Employment Commissioner Mary Scott Nabers. "The problem...

Lockheed wins contract.
August 5, 1991... Lockheed wins contract General Dynamics' space systems division has awarded Lockheed Austin subcontracts on two satellite launcher projects. Lockheed estimated it will be working on the Atlas/Centaur, which would be used to boost...

'Green' Austin. (Austin named one of four 'green' cities in the U.S. by New Woman magazine for its environment successes)
August 5, 1991... |Green' Austin Austin has been named one of four |green' cities in the U.S. by New Woman magazine for what the magazine termed its environment successes. The August issue selected Austin, Minneapolis, Seattle and Wellesley, Mass., based on...

HEB optimistic about 6th and Lamar store. (HEB Grocery Co.'s planned construction of grocery store at intersection of Lamar Blvd. and West Sixth St., Austin TX)
August 5, 1991... HEB optimistic about 6th and Lamar store HEB officials remain optimistic about construction of a grocery store at the intersection of Lamar Boulevard and West Sixth Street despite potential problems over the configuration of the site, traffic...

Trip touts Austin. (Greater Austin Chamber of Commerce's national public relations program to promote Austin)
August 5, 1991... Trip touts Austin On the road again. A dozen volunteers and staff members from the Greater Austin Chamber of Commerce traveled to Silicon Valley last week for another in a series of road trips intended to attract business to the Austin...

Hibernia looking to sell Texas banks. (bank holding company plans to sell all of its Texas banks)
August 5, 1991... Hibernia looking to sell Texas banks Hibernia Corp. has announced it wants to sell all of its Texas banks as it seeks to restructure and looks for outside investors or a possible merger partner. The bank holding company also swept out...

Ross elected. (James T. Ross of Davis and Associates Inc. elected president of the Austin Retail Marketing Association)
August 5, 1991... Ross elected James T. Ross of Davis & Associates has been elected president of the Austin Retail Marketing Association. Ross has marketed, leased and managed retail centers in central Texas for more than 12 years.

Sharp wins praise. (Hyman Grossman of Standard & Poor's Corp. praises State Comptroller John Sharp's "Texas Performance Review" in July 8 issue of CreditWeek)
August 5, 1991... Sharp wins praise A Standard & Poor's official praised State Comptroller John Sharp's "Texas Performance Review" in the July 8 issue of Credit Week. Hyman Grossman describes the review as laying "the groundwork for improved operations...

Media directory ready. (Business Publicity Services releases third quarter edition of Austin Media Directory)
August 5, 1991... Media directory ready Broadcast Publicity Services recently released the third quarter edition of its Austin Media Directory. The listings in the directory include information on 57 area newspapers, magazines and other local...

Take time with ADA. (compliance with the Americans with Disabilities Act)
August 5, 1991... Take time with ADA The National Federation of Independent Business is warning small businesses to devote as much time as possible to complying with the Americans with Disabilities Act. "Small businesses are very sensitive to the needs of...

RTC has cleaned up its act and is selling property. (Resolution Trust Corp.'s Austin sales office, the sole sales-only RTC office in the nation)
August 5, 1991... RTC has cleaned up its act and is selling property Despite grumblings from many real estate professionals that the Resolution Trust Corp. (RTC) is slow and unresponsive, the agency has nonetheless managed to dispose of more than half the...

Commercial outlook bright. (national economists rate Austin TX as one of the top growth and investment areas through the 1990s)
August 5, 1991... Commercial outlook bright The Austin residential real estate market will become increasingly tight, with rapid price increases, predicts John R. Lindley in the Austin Insight Report, a newsletter published by the Lindley Group Inc., real...

Residential permits up. (Texas residential building permits)
August 5, 1991... Residential permits up Residential building permits continue to stay ahead of last year, according to figures compiled in the Texas Construction Bulletin, published by the Austin chapter of the Associated General Contractors of America...

Foreclosures down. (real estate foreclosures in Travis County TX)
August 5, 1991... Foreclosures down Although the number of foreclosures posted for August in Travis County, 449, are up 11 percent over July postings, the number is a 34 percent decrease from a year ago, according to Real Estate Foreclosures Inc. ...

One American sold. (TRST American Inc. acquires One American Center office building)
August 5, 1991... One American sold TRST American Inc. has acquired One American Center, a 503,810-square-foot office building at Sixth Street and Congress Avenue, from One American Center Associates. PGI Real Estate Services, an Austin asset management...

Freddie Mac VP. (Joseph D. Blodgett named vice president of the Federal Home Loan Mortgage Corp.'s Southeast-Southwest region)
August 5, 1991... Freddie Mac VP Joseph D. Blodgett has been named vice president of the Federal Home Loan Mortgage (Freddie Mac) Corp.'s Southeast-Southwest region. Blodgett succeeds Jean Morgan who is retiring after nearly 30 years with the agency. ...

Mail Boxes Etc. (Contracts)
August 5, 1991... Mail Boxes Etc. was selected to pack and ship personal copiers, fax machines and other home-office and small-business equipment for Xerox Corp.

Housing strong. (Federal National Mortgage Association forecasts strong housing demand in the 1990s)
August 5, 1991... Housing strong Low long-term interest rates, reduced inflation and an older, more affluent, population will keep housing demand strong in the 1990s, predicts Roger E. Birk, president of the Federal National Mortgage Association (Fannie Mae)....

Dale Chrisman & Associates. (Contracts)
August 5, 1991... Dale Chrisman & Associates was selected to handle public relations projects for the following organizations: Texas Apartment Association, Texas Association of Realtors, Schlotzsky's, 3M-Austin; EMCO Inc., Texas Healthcare Exchange, Hazcorp...

Diamond Shamrock Inc. (Earnings)
August 5, 1991... Diamond Shamrock Inc. announced earnings for the second quarter of 1991 of $17.7 million, or 70 cents per share, compared to $12.2 million, or 45 cents per share for the same period of 1990. Revenues for the 1991 quarter increased to $631.2...

Federal National Mortgage Association. (Earnings)
August 5, 1991... Federal National Mortgage Association announced a quarterly dividend on its common stock of 26 cents per share, payable Aug. 25 to shareholders of record at the close of business July 31.

Southwest Airlines. (Earnings)
August 5, 1991... Southwest Airlines announced a quarterly dividend of 2.5 cents per share, payable Sept. 26 to shareholders of record at the close of business Sept. 5.

First City Bancorp. of Texas. (Earnings)
August 5, 1991... First City Bancorp. of Texas announced a loss of $58.9 million for the second quarter of 1991 ended June 30, down $12.3 million from the loss of $71.2 million for the first quarter of 1991. Nonperforming assets at June 30 were $499 million, a...

Arrhythmia Research Technology Inc. (Earnings)
August 5, 1991... Arrhythmia Research Technology Inc. announced revenues of $1.5 million for the second quarter of 1991, compared to $1.1 million for the same period of 1990. Net income increased 157 percent to $103,000, or 5 cents per share, compared to $40,000,...

Advanced Micro Devices. (Earnings)
August 5, 1991... Advanced Micro Devices announced revenues of $296.8 million for the second quarter of 1991, compared to $274.3 million for the first quarter of the year. Net income for the second quarter was $17.3 million, or 17 cents per share after the...

Koger Properties Inc. (Earnings)
August 5, 1991... Koger Properties Inc. announced a loss of $9.7 million, or 36 cents per share for 1991, compared to a $1 million loss, or 4 cents per share, for 1990. Operating revenues for 1991 were $206.4 million, compared to $157.5 million for 1990.

Valero Energy Corp. (Earnings)
August 5, 1991... Valero Energy Corp. announced a net income of $25.3 million, or 58 cents per common share for the second quarter of 1991, compared to $19.9 million, or 51 cents per common share for the same period of 1990. Operating income for the 1991 quarter...

Trimcost Consulting Group. (new office opened)
August 5, 1991... Trimcost Consulting Group, a firm specializing in workers' compensation cost containment programs, opened new offices at 502 Hacienda Drive, phone 282-4747.

Don Martin Public Affairs. (Relocations)
August 5, 1991... Don Martin Public Affairs relocated its offices to 100 Congress Ave., Suite 2125, phone 469-6355, fax 469-6356.

The Texas Medical Association. (Relocations)
August 5, 1991... The Texas Medical Association relocated its headquarters to the corner of 15th and Guadalupe streets, phone 370-1300.

Chasnoff & Associates Inc. (Relocations)
August 5, 1991... Chasnoff & Associates Inc. relocated its offices to Austin Centre, 701 Brazos, Suite 150.

Presentation Concepts. (sale to Accent Color Copies and Computer Graphics)
August 5, 1991... Presentation Concepts was sold to Accent Color Copies and Computer Graphics as part of an overall expansion of Accent's Presentation Graphics capabilities.

Bell's franchise draws fire here .... (Southwestern Bell Telephone Co.'s renewed franchise agreement with the Austin City Council)
August 12, 1991... Bell's franchise draws fire here... The Austin City Council has approved a new franchise agreement with Southwestern Bell Telephone Co. amid objections that it could cost the city millions of dollars in lost franchise payments. The new...

... and Bell's goal to sell information blasted nationally. (federal court's removal of restriction banning Regional Bell Operating Companies from entering the field of information services)
August 12, 1991...... and Bell's goal to sell information blasted nationally Consumer groups, cable companies and newspapers are gearing up for head-to-head combat with the Baby Bells in a battle that could determine how Americans will receive news and other...

Dogfight under way on watershed rules. (Austin's proposed urban watersheds ordinance comes under renewed criticism from Greater Austin Chamber of Commerce)
August 12, 1991... Dogfight under way on watershed rules The city's proposed urban watersheds ordinance, a Town Lake pollution-control measure that has run into both opposition and delays this year, is hitting more snags. For one thing, the ordinance has...

Video Telecom ups engineering staff.
August 12, 1991... VideoTelecom ups engineering staff VideoTelecom has announced it will be increasing its engineering staff by 40 percent within the next 90 days. "Our increased commitment to engineering excellence will position us to take advantage of...

Dell hires advisor. (Dell Computer Corp. engages services of Morton H. Meyerson)
August 12, 1991... Dell hires advisor Morton H. Meyerson, former vice chairman and president of Electronic Data Systems Corp., has agreed to become an advisor to Michael Dell and the executive management of Dell Computer Corp. Meyerson, 53, oversaw the...

Pledges at $1.3 million. (fund-raising for Greater Austin Chamber of Commerce's Advantage Austin II program)
August 12, 1991... Pledges at $1.3 million NCNB and Southwestern Bell Foundation have pledged $100,000 each to the Greater Austin Chamber of Commerce Advantage Austin II program. The new four-year development plan, which already has raised $1.3 million,...

Telco celebrates 50th. (Austin Telco Federal Credit Union)
August 12, 1991... Telco celebrates 50th Austin Telco Federal Credit Union celebrated its 50th anniversary June 28 with open houses at each of its five locations. The credit union was chartered by Southwestern Bell employees and now serves workers from...

Texas tops $1 million. (Texas treasury investments)
August 12, 1991... Texas tops $1 million For the first time in state history, Texas Treasury investments earned $1 million in a single day, according to State Treasurer Kay Bailey Hutchison. "This is terrific news for Texas. It is literally a...

Families in business: a relative success. (Focus: Family Business)
August 12, 1991... Families in business: A relative success When it comes to business, many Austin entrepreneurs like to keep it all in the family. Family-run firms make up an important and diverse segment of Austin's business community. They make...

Family-owned firms suffer special stresses. (Focus: Family Business)
August 12, 1991... Family-owned firms suffer special stresses Family businesses are the predominant form of business ownership in the United States, but they pose several unique problems. Because family members involved are part of two very different...

Dee Dayal.
August 12, 1991... DEE DAYAL has has been named president and chief executive officer of Netserv Inc.

Aging populace dictates new markets. (Focus: Retirement Planner)
August 12, 1991... Aging populace dictates new markets Long known for its youthfulness, Austin is expecting a graying of its population in coming years. Local businesses are responding to both the problems and the opportunities this trend may bring. Census...

Derby's Co. (Contracts)
August 12, 1991... Darby's Co. was named agency of record for Clean & Lean laundromat and gym.

Compaq Computer Corp. (Earnings)
August 12, 1991... Compaq Computer Corp. announced sales for the second quarter ending June 30 of $718 million, a 17 percent decrease from sales of $862 million for the same period of 1990. Net income for the 1991 quarter was $20 million, or 23 cents per share, an...

Southwest Airlines. (Earnings)
August 12, 1991... Southwest Airlines announced net income for the second quarter ending June 30 of $10.6 million, or 25 cents per share, compared to $23.5 million, or 55 cents per share for the same period of 1990. Total operating revenues for the 1991 second...

Pancho's Mexican Buffet Inc. (Earnings)
August 12, 1991... Pancho's Mexican Buffet Inc. announced revenues of $54 million for the nine months ending June 30, compared to $52 million for the same period of 1990. Net earnings for the 1991 period were $1.6 million; or 36 cents per share, compared to $1.7...

Datum Inc. (Earnings)
August 12, 1991... Datum Inc. announced sales for the quarter ending June 30 of $8.4 million, a 9.4 percent increase over sales of $7.7 million for the same period of 1990. Earnings for the 1991 quarter were $213,000, or 9 cents per share, compared to the 1990...

Boss says reform package working. (reform package passed by Texas Legislature eases crisis in the state workers' compensation system)
August 19, 1991... Crisis in workers' compensation system eased Boss says reform package working A reform package passed by the Texas Legislature 21 months ago has eased the crisis in the state's workers' compensation system and is beginning to show...

Mortgage brokers shop around for your best deal. (Texas branch of the Association of Mortgage Brokers to take an active part in forming new regulations)
August 19, 1991... Mortgage brokers shop around for your best deal With stiffer regulations and, possibly, even state licensing looming on the horizon, Austin mortgage brokers are banding together to make sure they are there at the beginning if any changes are...

Your life history for sale to businesses. (legal aspects of consumers' right to privacy)
August 19, 1991... Your life history for sale to businesses Consumers are writing their own biographies daily with the purchases they make, services they apply for and the organizations they join. The more detailed the information, the more valuable it...

Bookstop expanding. (opens 10 stores in the last 12 months)
August 19, 1991... Bookstop expanding Austin-based Bookstop Inc. has opened 10 stores in the last 12 months and plans to open another 15 by the end of this year. Bookstop, which also operates under the name Bookstar, opened its first store in 1982 in...

Applied pessimistic. (Applied Materials Inc.)
August 19, 1991... Applied pessimistic Despite record net sales for the third quarter, Applied Materials Chairman and CEO James C. Morgan said he expects the next few quarters to be difficult for the company. Applied released its third quarter results last...

Telemarketers merge. (telemarketing sector of MCI Communications Corp. combines with Pioneer TeleTechnologies Inc. to form MCI Services Marketing Inc.)
August 19, 1991... Telemarketers merge MCI Communications Corp.'s telemarketing sector has combined with Pioneer TeleTechnologies Inc. to form a new company called MCI Services Marketing Inc. One of PTI's eight centers, employing 750 people, is located in...

Cypress CEO testifies. (Cypress Semiconductor president and chief executive officer T.J. Rodgers)
August 19, 1991... Cypress CEO testifies Cypress Semiconductor President and CEO T.J. Rodgers testified last month before a U.S. House subcommittee that the "balance of power" in the semiconductor industry is shifting toward smaller companies and away from...

Schlotzsky's turns 20. (Schlotzsky's Sandwich Shops celebrates anniversary)
August 19, 1991... Schlotzsky's turns 20 Schlotzsky's Sandwich Shops of Austin is celebrating its 20th anniversary. Founders Don and Dolores Dissman started the company with a small store at 1301 S. Congress Ave. There are now more than 240 franchises...

Two new incubators hatching. (business incubators organized by Diener-Triplett Advertising, and by Entrepreneurs' Association director Martin Palmer)
August 19, 1991... Two new incubators hatching Austin is hatching two new business incubators and, unlike existing incubators, both will operate as for-profit facilities. Diener-Triplett Advertising is looking for about six tenants to occupy 1,800 square...

Texas sales tax sixth highest. (results of study conducted by State Comptroller John Sharp)
August 19, 1991... Texas sales tax sixth highest Texas gas and booze are cheap as compared to other states because of low taxes. But consumers end up paying more here for other goods and services because sales taxes are such an important revenue source,...

First Interstate moves to 100 Congress. (First Interstate Bank of Texas relocates to Congress Avenue)
August 19, 1991... First Interstate moves to 100 Congress First Interstate Bank of Texas has consolidated its operations to 100 Congress Ave. The bank moved its central branch from 702 Colorado to 100 Congress a week ago and will move its Corporate &...

Bradshaw: city's biggest copy cat. (Elizabeth Bradshaw, president of Ginny's Printing & Copying)
August 19, 1991... Bradshaw: City's biggest copy cat As president of Ginny's Printing & Copying, Elizabeth Bradshaw has led the quick-printing firm to become one of Austin's most successful homegrown businesses. Ginny's, one of the city's largest...

Going public. (initial public offering of securities)(Focus: Taking Stock in Austin)
August 19, 1991... Going public Going public is considered by many entrepreneurs as the ultimate goal of any company. Issue stock, trade it publicly, then rake in all the cash that will allow you to pay back early investors, realize a profit of your own, and...

Look for long-term growth in stocks. (Focus: Taking Stock in Austin)
August 19, 1991... Look for long-term growth in stocks The stock market may be as unpredictable as ever, but local brokers continue to express confidence in the long-term value of investing in stocks. Many brokers are conservative about the market,...

Radian Corp. (Contracts)
August 19, 1991... Radian Corp. was awarded a $1.15 million, 16-month contract, with options up to $5.4 million over a three-year period, by The Environmental Protection Agency to conduct engineering and assessment studies and to define control technology...

RTG/Partners Inc. (Contracts)
August 19, 1991... RTG/Partners Inc. was selected by Golfsmith Inc. to masterplan a 40-acre tract off North I-35. The plan includes 235,000 sq. ft. to 250,000 sq. ft. of sales, manufacturing and warehousing, and building-design services will be for a new 60,000 sq....

ComputerLand Corp. (Contracts)
August 19, 1991... ComputerLand Corp. has signed an agreement with Texas Instruments (TI) to sell TI's TravelMate 2000 and 3000 notebook Personal Computers and microLaser family of printers.

Eclipse Communications. (Contracts)
August 19, 1991... Eclipse Communications was named agency of record for J.D. Byrider Autos and Ramada North.

Employers Casualty Co. (Earnings)
August 19, 1991... Employers Casualty Co. announced a net gain for the first six months of 1991 of $3.1 million, or 31 cents per share, compared to a loss of $94.8 million, or $9.40 per share for the same period of 1990. Capital gains for 1991's six-month period...

Employers National Life Insurance Co. (Earnings)
August 19, 1991... Employers National Life Insurance Co. announced a net income for the first six months of 1991 of $1.5 million, or $1.34 per share, compared to $1.7 million, or $1.57 per share for the same period of 1990. Net premiums were $3.4 million, a...

Marriott Corp. (Earnings)
August 19, 1991... Marriott Corp. announced a quarterly cash dividend of 7 cents per common share payable Oct. 21 to shareholders of record Oct. 1.

Schlumberger. (Earnings)
August 19, 1991... Schlumberger announced total revenue for the second quarter of 1991 ending June 30 of $1.6 billion, compared to $1.3 billion for the same period of 1990. Net income for the 1991 quarter was $180.8 million, or 76 cents per share, compared to...

Citizens Inc. (Earnings)
August 19, 1991... Citizens Inc. announced earnings for the first six months of 1991 of $2.1 million, or 14 cents per share, compared to $716,483, or 4 cents per share for the same period of 1990. Premium income for the 1991 period was $9.8 million, compared to...

Diamond Shamrock. (Earnings)
August 19, 1991... Diamond Shamrock announced a quarterly dividend of 13 cents per share, payable Sept. 6 for shareholders of record Aug. 20.

American Refrigerant Reclaim Corp. (ARRC). (Openings )
August 19, 1991... American Refrigerant Reclaim Corp. (ARRC), a manufacturer and seller of CFC "Reclaim" equipment, recently incorporated in Austin. ARRC's mailing address is P.O. Box 160698, Austin, 78716, phone 327-6010.

Fastsigns Inc. (Openings)
August 19, 1991... Fastsigns Inc., a one-day sign and lettering store, opened offices at 8820 Burnet Road in the Crossroads Shopping Center.

Barack Financial Consultant. (Openings)
August 19, 1991... Barack Financial Consultant, a full-line, commercial-loan brokerage firm, opened offices at 815A Brazos, Suite 313, phone 454-8954.

South Austin Medical Center Cardiovascular Center. (Openings)
August 19, 1991... South Austin Medical Center Cardiovascular Center opened facilities at 901 W. Ben White Blvd.