Austin Business Journal articles from June 2001

Austin Business Journal archives from June 2001

AMD: Billions at stake.(Austin woos Advanced Micro Devices Inc.)(Brief Article)(Statistical Data Included)
June 1, 2001... Austin chamber makes regional push in contest to land AMD's next-generation chip plant In its pitch to garner regional support for attracting Advanced Micro Devices Inc.'s next fabrication complex, the Greater Austin Chamber of Commerce is...

Rx.com inventory frozen.(Brief Article)(Statistical Data Included)
June 1, 2001... Court grants temporary order sought by health care company that claims it's due $3.2M in goods The inventory of pharmaceuticals at Austin-based Rx.com Inc. has been temporarily frozen as part of a lawsuit tiled by an Ohio health care...

Semiconductor firm sold.(Advanced Interconnect Technologies Ltd. buys Semiconductor Services L.L.C.)(Brief Article)
June 1, 2001... An Austin-based independent test house for the semiconductor industry has been acquired by Pleasanton, Calif.-based Advanced Interconnect Technologies Ltd. The remaining shares of Semiconductor Services LLC, founded in 1995, were sold to...

In a holding pattern.(Aircraft Pooling Board wants Central Texas airport)(Brief Article)(Statistical Data Included)
June 1, 2001... Legislation authorizing the State of Texas Aircraft Pooling Board to establish an airport in Central Texas has yet to crash and burn. Both the Texas House and Senate passed Senate Bill 304 on May 28. It immediately flew over to Gov. Rick...

What glass ceiling?(Brief Article)
June 1, 2001... Summer 2001 is a time to profile women with power. Whether it's Lara Croft shooting guns at bad guys and fearlessly exploring spooky tombs in "Tomb Raider" or the July 12 Profiles in Power luncheon, which lauds local women leaders, their...

How to stop the brain drain.
June 1, 2001... In the midst of the slowed economy and associated layoffs, the Greater Austin Chamber of Commerce's second annual GreaterAustin@Work Summit will try to tackle the area's workforce development issues. Saralee Tiede, the chamber's vice...

Tech or not, come on down.
June 1, 2001... Even high tech workers who aren't so high tech can get in on the job-hunting action at the JobConnect career fair June 7 at the Austin Music Hall. The fair is an effort by the Austin Software Council, Capital Area Workforce Development...

Timely talk.
June 1, 2001... The MIT Enterprise Forum of Austin plans to host an event with a title sure to speak to the hearts of many around town. The forum will host "Managing a Startup in Turbulent Times" through a live satellite broadcast from the MIT campus. The...

Hazard-free pipelines?(Brief Article)
June 1, 2001... Austin-based American Innovations has teamed with California-based Aeris.net to use technology to get dirty jobs done. American Innovations' remote monitoring system will be paired with Aeris.net's wireless network to remotely monitor...

Parlez-vous Francais?(Lycee Francais d'Austin opens)(Brief Article)(Statistical Data Included)
June 1, 2001... Austin has its first French-American school. The Lycee Francais d'Austin is the brainchild of a group of Austin-based business leaders, French parents and French-speaking American parents as well as Pierre Petit; the consul general of...

Introgen's best.(Introgen Therapuetics Inc. report to be published in journal)(Brief Article)
June 1, 2001... A study by Austin-based Introgen Therapuetics Inc. has been chosen to appear in a Journal of Clinical Oncology's ."best of" issue. The journal selected Introgen's study on lung cancer, which initially was published in March 2000. The...

Southwest plans HQ expansion.(Brief Article)
June 1, 2001... DALLAS - Dallas-based Southwest Airlines Co. has drawn up a short list of architects and engineers to design an expansion of its headquarters at Dallas Love Field. The airline's executives deny any project is in the works, company...

Houston law firm may be acquired.(Mayor, Day, Caldwell and Keeton LLP)(Brief Article)
June 1, 2001... HOUSTON -- Houston law firm Mayor Day Caldwell & Keeton LLP is a merger target for two larger firms. Dallas-based Akin Gump Strauss Hauer & Feld LLP and Houston-based Andrews & Kurth LLP are interested in acquiring Mayor Day, according to...

S.A. plant places workers on leave.(Philips Semiconductors)(Brief Article)
June 1, 2001... SAN ANTONIO - Most of the manufacturing workers with Philips Semiconductors in San Antonio are being asked to take a 90-day leave of absence as part of a costsaving measure that effectively will shut down the plant for the time being. ...

Dell casting for acquisitions.(Brief Article)
June 1, 2001... Analysts say some of $8 billion in cash on hand likely will be used to buy storage providers Flush with about $8 billion in cash, Dell Computer Corp. is on the prowl for a strategic acquisition, and Wall Street analysts say the company's...

Earl might run again.(Brief Article)
June 1, 2001... Campbell's restaurant may reopen if partnership with Italian chain consummated Legendary football star Earl Campbell is considering a partnership that could result in the reopening of his barbecue restaurant on Sixth Street. The...

State begins work on MoPac hookup.(Brief Article)
June 1, 2001... A $10 million transportation project that will extend part of South MoPac Expressway and bypass William Cannon Drive could be a boon to development in Southwest Austin. Texas Department of Transportation officials say they have begun...

Data center in CBD.(Brief Article)
June 1, 2001... Ninth Street facility is self-supporting in first year with four tenants Dallas-based Collocation Solutions has quietly opened a downtown Austin data center that already is self-supporting in its first year. "We've invested probably $3...

New city rules restrict projects in Hyde Park.(Brief Article)
June 1, 2001... A City of Austin commission has downgraded the zoning on 63 properties in the highly protective Hyde Park neighborhood to classifications that allow less development on those sites. With the Austin Planning Commission's unanimous May 22...

New president named for Centene of Texas.(Michael McKinney)(Brief Article)
June 1, 2001... Dr. Michael McKinney has been named president of Centene of Texas. Previously, McKinney was president and CEO of two St. Louis-based Centene Corp. subsidiaries -- Managed Health Services Indiana Inc. and El Paso-based Superior Health Plan...

Commerce One wraps up deal to acquire Exterprise.(Brief Article)
June 1, 2001... Commerce One Inc. [Nasdaq: CMRC] has completed its acquisition of Austin-based Exterprise Inc. Exterprise's software creates online marketplaces for companies, online trading portals and trading groups. Commerce One makes software that...

NFP Securities names new chief exeduLive.(Brief Article)
June 1, 2001... Jeffrey Montgomery has been named CEO of NFP Securities Inc. Austin-based NFP is a broker/dealer catering to independent financial services professionals. It has more than 700 representatives. NFP is a wholly owned subsidiary of New...

Eyes of Texas are upon Central Texas biotech.(Brief Article)
June 1, 2001... Biotech experts across Texas are keeping an eye on Austin's efforts to create a biotech corridor between here and San Antonio with hopes the entire state will become a major draw for the industry. One is Dr. David Edwards, who has placed...

Verizon Wireless.(Brief Article)
June 1, 2001... Dallas Verizon Wireless, the country's largest wireless provider, will build a $20 million network operations center in Southlake that's expected to employ 400 people in its first phase. The 175,000-square-foot center in the Solana...

Applied Materials Inc.(Brief Article)
June 1, 2001... San Jose Viewers of the season finale of "The West Wing" had two puzzles to ponder during one of the station breaks. One was whether President Josiah Bartlet would run for re-election. The other was the identity of one of the advertisers...

Access Point.(Brief Article)
June 1, 2001... Raleigh/ Durham Just six months after filing for Chapter 11 bankruptcy protection, Cary, N.C.-based telecommunications provider Access Point has slipped through the creditor's noose. On May 22, U.S. Bankrupcty Court Judge A. Thomas...

PentaSafe Security Technologies Inc.(BEA Systems Inc.)(Brief Article)
June 1, 2001... Houston PentaSafe Security Technologies Inc. has received $3 million in funding from industry giant BEA Systems Inc. as part of a new marketing agreement. And although PentaSafe had intended to go public in April, those plans have...

Corvis Corp.(Brief Article)
June 1, 2001... Washington, D.C. When fiber-optic equipment maker Corvis Corp. went public last July, investors were tripping over themselves to get into the stock. Interest in the shares was so intense that at one point Corvis had a market capitalization...

Poll: Small biz lacks influence.(Brief Article)
June 1, 2001... A new Harris Poll shows 88 percent of Americans think small business has too little power and influence in Washington. Big companies, on the other hand, have too much power, according to 86 percent of the 1,004 adults surveyed by Harris Big...

By George, it's clothing!
June 1, 2001... Retailer expands to Lamar store What do you do when you're a high-end retailer who's happened to expand into an expensive new store just as the backbone of your city's economy is starting to go into traction? If you're Katie and Matt...

'Wheel of Activity' can spin sales activity.(Brief Article)
June 1, 2001... The adage "Time is money" never has been more true than it is today, especially for the professional salesperson. With the advent of technologies such as Web-enabled cellular phones and personal digital assistants that complement the growth...

Training opportunities about to abound in Texas.(Brief Article)
June 1, 2001... In Texas, state agencies begin winding down year-end spending as August approaches. On Sept. 1, a new fiscal year will begin -- and with it comes an abundance of opportunities and expected outsourcing budgets of more than $10 billion for...

LTD trying to restore Applied Materials contract.(LTD Ceramics Inc.)(Brief Article)
June 1, 2001... LTD Ceramics Inc. recently shut down its Austin plant for two weeks. The shutdown was a result of LTD's largest customer, Santa Clara, Calif.-based Applied Materials Inc. [Nasdaq: AMAT], canceling its contract. In a letter to employees,...

Just having fun at Work can boost productivity.(Brief Article)
June 1, 2001... A few years ago, there was a popular song titled "Girls Just Want to Have Fun." It was kind of a catchy tune -- easy to sing and keep ringing in your ears. Well, how about a variation on that today: "Employees Just Want to Have Fun"? For...

Waiting game.(energy deregulation)
June 1, 2001... 'Remember California' leads the slow charge of customers as they consider options of energy deregulation in Texas Wait and see. That's the prevailing attitude toward energy deregulation in Texas, including utilities and customers in...

Power plays hit where it hurts most -- wallets.(San Francisco industry spends money to reduce power dependency)(Brief Article)(Statistical Data Included)
June 1, 2001... Key Bay Area industries are spending big bucks to diminish their dependency on power and safeguard themselves from rolling blackouts in the San Francisco area. The investments threaten to take a big bite out of capital and operational...

Southern Union plant begins selling power.(Brief Article)
June 1, 2001... The power plant built through a partnership between PEI Power Corp. and Cayuga Energy Inc. is now in service in Archbald, Pa. Wilkes Barre, Pa.-based PEI is a subsidiary of Southern Union Co. [NYSE: SUG], based in Austin. Cayuga Energy...

Based on California, it's 'wait and see' in Texas.(energy deregulation)(Brief Article)(Statistical Data Included)
June 1, 2001... Undoubtedly, deregulation will transform the energy markets for business customers. A recent survey by Booz Allen & Hamilton Inc., a technology and management consulting firm based in McLean, Va., found businesses do benefit from switching...

Landlords face tough competitors -- their tenants.(competition for commercial tenants)
June 1, 2001... When it comes to commercial real estate, landlords expect to compete for tenants in all but the tightest real estate markets. In order to stand out from the competitive crowd, they draw on unique attributes such as location and amenities. ...

A slogan and reality -- real estate since 1918.(Harrison-Pearson Real Estate)(Brief Article)
June 1, 2001... Rush hour drivers may not notice the offices of Harrison-Pearson Real Estate as they wind through the downtown traffic matrix, but Austin's commercial and residential real estate community are very aware of the firm's whereabouts -- and its...

Buy or build? That is the question this year.(low interest rates for commercial property)(Brief Article)(Statistical Data Included)
June 1, 2001... Now may be a better time than ever to consider buying your own business building. Whether you'd want to build from the ground up or consider the purchase of an existing building, the most important factors -- such as cost and lending terms --...

April construction activity rises in Austin area.(Brief Article)(Statistical Data Included)
June 1, 2001... Contracts for construction rose 73 percent in April in the Austin metropolitan area. The McGraw-Hill Cos. reported through its F.W. Dodge division that in 2001, April contracts for construction totaled $372 million, compared with $214...

Layoffs translate into opportunity for incubators.(layoffs increase sublease availability)(Brief Article)(Statistical Data Included)
June 1, 2001... Dot-com woes may bring tears to the newly unemployed and to city fathers watching the unemployment rate rise and tax revenues fall. To others, however, the doom of "restructured" businesses spells opportunity -- if not pure joy. The slew...

New leases slated for private business park.
June 1, 2001... The developers working to turn McClellan Air Force Base into a private business park have landed another nine leases good for 300,000 square feet and 290 diverse jobs. The additions include a high-tech aircraft repair startup, a...

Sale-leaseback financing gives owners options.(Statistical Data Included)
June 1, 2001... The benefits of sale-leaseback financing -- the strategic conversion of real estate, particularly single-tenant properties, into working capital -- is gaining vogue once again as executives scramble to find critical funds to grow their...

Tramumell Crow enters downtown Portland race.(Brief Article)
June 1, 2001... Developers of two proposed high-rise buildings in downtown Portland, Ore. have a new rival: Trammell Crow Co. The Dallas-based office developer is dipping its toes into the Portland office market, revealing plans recently to build a...

Dallas developers fear mounting sublease space.(Brief Article)
June 1, 2001... When Buddy Tompkins gazes north from his office window near LBJ Freeway and the Dallas North Tollway, he sees only one construction crane dotting the skyline. And that's the way Tompkins, vice president at Wilcox Realty Group, likes it. "I...

It pays to know when to hold 'em.(office buildings)(Brief Article)
June 1, 2001... The standard strategy for commercial property investors lately is neither buy nor sell, but rather hold and improve, says a real estate attorney in Tampa, Fla. Michael Bedke, a partner in the Tampa office of Piper Marbury Rudnick & Wolfe,...

FIC breaks off sale talks.(Financial Industries Corp. )(Brief Article)
June 1, 2001... Financial Industries Corp. [Nasdaq: FNIN] has halted talks with an unnamed suitor that had inquired about buying the Austin-based insurance company. FIC had received unsolicited inquiries about the sale of the company or its subsidiary...

TOP 25 COMMERCIAL REAL ESTATE BROKERAGE FIRMS.(Directory)
June 1, 2001... TOP 25 COMMERCIAL REAL ESTATE BROKERAGE FIRMS Ranked by number of Austin- area full-time licensed brokers and...

LARGEST SECURITY SYSTEMS FIRMS.(Directory)
June 1, 2001... LARGEST SECURITY SYSTEMS FIRMS Ranked Austin-area gross revenue 2000 2000 total: Business Name Revenue/ ...

PEOPLE.
June 1, 2001... DOMENIC BUCCI was appointed senior director of worldwide sales at Radiant Photonics Inc. Previously, he was regional sales manager for WaveSplitter Technologies. Bucci holds a bacehlor's degree in electrical engineering from Point Park College...

We refuse to walk the walk.(gasoline prices)(Brief Article)(Column)
June 1, 2001... Americans complain about gas prices, but still jump behind the wheel and drive them up It's amazing that analysis of the most-traded commodity in the world is reduced, in the mind of most, to one simple number: The price at the pump. ...

News is what we're doing.(Brief Article)(Column)
June 1, 2001... If you're going to revel in the compliments, you have to be ready to accept the criticisms. Austin, here comes the bad news. Leaders around town have been waiting months for the other shoe to drop. It's not the bad news they fear, but...

ProTrader acquires Dallas trading firm.(ProTrader Securities Corp acquires SourceTrade)(Brief Article)
June 1, 2001... Austin's ProTrader Securities Corp. has acquired Dallas-based SourceTrade. Terms of the deal Weren't disclosed. SourceTrade was a division of Terra Nova Trading LLC, a Chicago-based broker/dealer and provider of day-trading software....

Brackenridge pact may change.(contract to operate Brackenridge Hospital)(Brief Article)
June 8, 2001... Decision by Catholic bishops may lead to dropping of sterilization Seton Healthcare Network and the City of Austin might have to renegotiate their contract for operation of Brackenridge Hospital after a vote by U.S. Catholic bishops later...

Room for improvement.(Austin hotel occupancy declines)(Brief Article)(Statistical Data Included)
June 8, 2001... Cutbacks in business travel contribute to decrease in occupancy at Austin hotels Austin's hotel industry is feeling the economic crunch as businesses and individuals alike limit their travel spending. A first-quarter study by Houston...

Citizens seeks acquisitions.(Brief Article)(Statistical Data Included)
June 8, 2001... Life insurance company hopes to quadruple annual revenue to about $270M within nine years Austin-based life insurance company Citizens Inc. plans to quadruple its annual revenue by 2010 to about $270 million by more than tripling sales of...

What a kick.(Commission on Environmental Quality)(Brief Article)
June 8, 2001... It's always been a mouthful when you tried to provide the full name. The Texas Natural Resource Conservation Commission even challenged instincts. Naturally, most people wanted to take the resources the state agency oversees and make them...

Icy hot.(Austin enjoys hockey)(Brief Article)(Statistical Data Included)
June 8, 2001... For all of its top-notch attractions, Austin lacks a major-league hockey team. And we rarely see ice, except in beverage glasses. Nonetheless, Austin ranks 33rd nationally for the highest percentage of loyal National Hockey League fans,...

Odds man out?(developer Gary Bradley)(Brief Article)
June 8, 2001... Well-known local developer Gary Bradley says odds aren't good that money from development just southwest of Austin will help schoolchildren in Hays County. That's because Senate Bill 1812 failed to make it through the current legislative...

Cleaning up.(Austin Entrepreneurs Foundation, Hotlink Inc., donate goods)(Brief Article)
June 8, 2001... You've never seen a spring cleaning quite like this. The Austin Entrepreneurs Foundation recently teamed up with Austin's HotLink Inc. to collect T-shirts, caps and other castoffs from tech companies in the Austin area. The items were...

Weather or not.(National Instruments Corp. birthday celebration)(Brief Article)
June 8, 2001... National Instruments Corp. may have watered down its 25th birthday celebration May 31, but the company didn't let a storm completely rain on its parade. Because of rain, the company postponed an appearance by the high school band from...

Legal eagles roost.
June 8, 2001... In need of legal advice? You might hang around the Austin Convention Center from June 14-16 when about 2,000 lawyers from around 'the state will gather for the 119th State Bar of Texas annual meeting. Texas Attorney General John Cornyn...

CORRECTION.(Colliers Oxford Commercial Inc.)(Brief Article)(Correction Notice)(Statistical Data Included)
June 8, 2001... The list of Austin's Top 25 Commercial Real Estate Brokerage Finns in the June 1-7 issue of the Austin Business journal incorrectly stated the number of-agents and brokers for Colliers Oxford Commercial Inc. Colliers Oxford has 20 agents and...

Houston Olympics could draw $2.2B.(Brief Article)(Statistical Data Included)
June 8, 2001... HOUSTON -- If Houston is chosen to host the Summer Olympic Games in 2012, the city could bring in a minimum of $2.2 billion in revenue and turn a $257 million profit. Those figures are from the Houston 2012 Foundation. It's the first time...

Bank 10 beef up in Metroplex.(First American Bank plans ten new locations)(Brief Article)
June 8, 2001... FORT WORTH -- Bryan-based First American Bank plans to open 10 locations in the Dallas/Fort Worth area by next year. First American will become the first bank at the Beechwood Business Park in far north Fort Worth. Beechwood is a 902-acre...

Online ad firm calls it quits.(Clear Blue Media Inc.)(Brief Article)(Statistical Data Included)
June 8, 2001... SAN ANTONIO -- Clear Blue Media Inc., a San Antonio-based online advertising firm, is closing less than one year after posting the best revenue figures of the company's short life. Philip Pennington, who founded the company in 1998 and is...

Alchemy gets executive help.(Alchemy Semiconductor Inc.)(Brief Article)
June 8, 2001... Boxx's chairman comes aboard as chip company's interim CEO after departure of Broockman Alchemy Semiconductor Inc.'s chemistry might be changing, but its core business -- high-performance, low-power chips -- remains the same. Jim...

Buda's revenue climbs.(Brief Article)(Statistical Data Included)
June 8, 2001... Buda is bringing in the sales tax bucks. The city's sales tax receipts for January through May are more than 91 percent higher than receipts for the same period in 2000, according to figures from theTexas Comptroller's Office. A new retail...

A new flavor in school.(restaurant opens in high school)(Brief Article)
June 8, 2001... Carmelo's to open restaurant inside Del Valle High School to teach about hospitality careers In August, Del Valle High School will savor some Italian food for thought: Carmelo's is opening a restaurant inside the school that will be...

Loan project is slow.(poor response to home improvement loans program)(Brief Article)(Statistical Data Included)
June 8, 2001... Trickle of response to city-sponsored program concerns Austin bankers A City of Austin program backed by nearly $25 million of local banks' money has gotten off to a slow start. The program -- called the Mayor's Challenge Fund -- was...

Kohl's, Wal-Mart, Depot stores are in the works.(Home Depot)(Brief Article)(Statistical Data Included)
June 8, 2001... Construction and renovation is bringing more big-name retail choices to the Austin area. Deals in the works include a new Kohl's department store and one of Home Depot's Expo design centers, both in South. Austin. Existing stores said to...

Retail sales increase 3.3 percent in Austin area.(Brief Article)(Statistical Data Included)
June 8, 2001... Same-store retail sales in the Austin area grew 3.3 percent in May, according to TeleCheck Services Inc. Nationally, same-store retail sales rose 2.8 percent. Texas saw a 3.5 percent increase. In the Southwest, sales rose 3.5 percent....

Just4biz.com files for Chapter 11 bankruptcy.(Brief Article)(Statistical Data Included)
June 8, 2001... An Austin-based online office supply company has filed for protection from creditors under Chapter 11 of the U.S. Bankruptcy Code. Just4biz.com Inc. provides small to medium-sized companies with e-commerce options for reselling office...

Netheartbeat.com seeks bankruptcy liquidation.(Brief Article)(Statistical Data Included)
June 8, 2001... An Austin-based provider of additional server power has flatlined. Netheartbeat.com Inc. filed May 23 for Chapter 7 bankruptcy liquidation in U.S. Bankruptcy Court. The startup has less than $50,000 in assets but owes creditors from...

(i) Dallas.(Lifecast.com Inc. files lawsuit)(Brief Article)
June 8, 2001... An Internet company founded by former Dallas Maverick Mark Aguirre claims its biggest stockholder, ClubCorp USA Inc., tried to destroy it by shutting off investment capital and pilfering trade secrets. A lawsuit filed by Lifecast.com Inc....

(i) B o s t o n.(investment in Basis Technology Corp.)(Brief Article)(Statistical Data Included)
June 8, 2001... Based on a projection that the number of Internet users in Asia will rise to 240 million by 2005, U.S. technology and software companies are looking to the Asian markets for growth opportunities, especially with the U.S. economy softening. ...

(i) Houston.(BindView Corp.)(Brief Article)(Statistical Data Included)
June 8, 2001... In the past month alone, Houston-based BindView Corp. has hired a new chief financial officer and seen a shareholder group back off efforts to force the tech company to the auction block. But week after week, a constant remains: BindView's...

(i) Raleigh/Durham.(possible merger between GadgetSpace Inc. and Brightpod Inc.)(Brief Article)(Statistical Data Included)
June 8, 2001... Two Triangle startups are considering a merger that would bring together their respective strengths in the wireless industry -- and perhaps provide new hope for investors who have poured $10.5 million into them. David Blivin, a partner at...

(i) Atlanta.(LastMinuteTravel.com Inc., AOL Time Warner Inc. sign agreement)(Brief Article)
June 8, 2001... Atlanta-based online travel company LastMinuteTravel.com Inc. has signed a multiyear agreement with AOL Time Warner Inc. to be its exclusive provider of last-minute travel deals. The deal puts LastMinuteTravel.com on AOL's home page, as...

Building near Capitol set to break ground in June.(Brief Article)(Statistical Data Included)
June 8, 2001... Construction begins this month on a downtown project to add 27,000 square feet of speculative offices near the Capitol. 1001 Congress, planned as a four-story building with attached garage, is set for completion next spring at the northeast...

New city system keeps closer tabs on land deals.
June 8, 2001... Real estate agreements such as those made between developer Gary Bradley and the City of Austin are being tracked in a more high tech way. The city's Legal Settlements Tracking System was set to debut June 5 before the Austin Planning...

Hospital association names new president.(Richard Bettis has been named president and CEO of the Texas Hospital Association.)(Brief Article)
June 8, 2001... Richard Bettis has been named president and CEO of the Texas Hospital Association. Bettis joined the Austin-based trade group in 1970. He has worked in nearly every area of the association. He is being promoted from executive vice...