Austin Business Journal articles from October 2000

Austin Business Journal archives from October 2000

PEOPLE.
October 6, 2000... MARK SCHMELTEKOPF has been named partner in Arthur Andersen's audit and business advisory practice; he will focus on the technology, media and communications industries. Schmeltekopf has 13 years of experience with Arthur Andersen. TERRI...

Business hurt by stock greed.
October 6, 2000... Investors seem to lose track of making money over the long run, flee companies too quickly Immediacy appears to have become the key in American investment. The United States stock market has become the playground not just for the rich,...

Just a hair short of a lie.
October 6, 2000... Several times a month, this newspaper misleads you. The lack of truth is right here on this page, in the photo that accompanies these words. And you can count on it continuing, in large part due to societal pressure. Although I've not...

TAKING STOCK OF AUSTIN.
October 6, 2000... [TABLE HAS BEEN CLIPPED]

LARGEST TITLE COMPANIES.
October 6, 2000... [TABLE HAS BEEN CLIPPED]

LARGEST MOVING COMPANIES.
October 6, 2000... [TABLE HAS BEEN CLIPPED]

Sacramento airport could be high tech campus.
October 6, 2000... Mather Field has proved so popular as a business address that Sacramento County plans to open another 500 acres of the former Air Force Base for commercial development. It's the last big chunk of land available for development on the...

Dallas-based developer looks to San Francisco.
October 6, 2000... A developer from Los Angeles and one from Texas are teaming up to build a $60 million highrise apartment complex in San Francisco, Calif., according to the architects designing the project. The complex will feature two towers -- one of...

Dot-coms drop, space opens up.
October 6, 2000... Finding just the space companies want, in the time-frame they want it, has put some companies on a dot-com deathwatch. Take the folks at -Link. Linda Anson, the vice president of administration for the government contracting agency, said...

Dallas real estate market enters renaissance.
October 6, 2000... After years of being redlined by the capital markets, the Dallas area may be on the verge of a real estate investment renaissance. Spectacular job growth, escalating rental rates and attractive sales prices are combining to make the...

Southwest Water acquires two utilities in Austin area.
October 6, 2000... Southwest Water Co. [Nasdaq: SWWC] has acquired two utilities in the Austin area for $4 million in common stock. The acquisitions of Windermere Utility Co. and Hornsby Bend Utility Co. took effect Oct. 1 and include about 4,000 homes. ...

BMC to acquire assets of Canadian company.
October 6, 2000... BMC Software Inc. [Nasdaq: BMCS] says it will acquire the assets of Sylvain Faust Inc., a Canadian developer of database solutions that enhance programmer productivity. Financial details of the deal weren't disclosed. Sylvain Faust's...

Use strategic planning to save relocation costs.
October 6, 2000... Influenced by growth in local technology sectors and other industries, Austin's unemployment rate continues to hover at record lows. This means increased employment levels within these markets -- and an ever-increasing need for space....

Real estate industry evolves, builds value.
October 6, 2000... After the nationwide real estate crash of the late 1980s, brought on by over-zealous developers and too much capital, the business of real estate begged for change. Real estate investment was often seen as volatile and risky; the industry's...

High tech wants even more Seattle office space.
October 6, 2000... Seattle's high tech companies could gobble up another 10 million square feet of office space by 2005, more than doubling the industry's presence in Seattle, Wash., according to a package of studies commissioned by the city. Under a...

Nothing could keep this relocator pro down.
October 6, 2000... If Susan Morrow's life had a theme song, it would probably be Tubthumping by Chumbawamba. "I get knocked down, but I get up again, you're never gonna keep me down...." Widowed at the age of 31, re-married, divorced, laid off and the sole...

Surrey test markets soaps for Target stores.
October 6, 2000... Leander-based Surrey Inc. [Nasdaq: SOAP] says it has begun producing bar soaps for test marketing in 40 Target stores. If the pilot project is successful, the program will be rolled out throughout the Target chain. Target stores are...

One word: 'synthetics'.
October 6, 2000... The idea of synthetic leases work, but they're complicated When Austin advertising firm GSD&M planned what would become "Idea City" on the. northeast corner of West Sixth Street and Lamar Boulevard, the company sought the measure of control...

Are lawyers leading exodus out of downtown?
October 6, 2000... Austin's law firms, from small to large, appear to be on the move, with a significant number of downtown firms relocating or expanding to the suburbs. Some out-of-state firms that are expanding to the Austin area, along with some new local...

Landlords call PUC access rules unconstitutional.
October 6, 2000... One should avoid discussing religion and politics in polite company, it's said. You might want to add "building access" to that list. The new building access rules, and the legislation they implement, promote competition by allowing...

Water fight brewing in south.
October 6, 2000... An application that, could provide necessary water for development of thousands of acres south of Austin is set for consideration by a state agency Oct. 24-26. But City of Austin officials say they will oppose the proposal, and an...

Company eats up Jardine.
October 6, 2000... Through complicated deal, Florida company acquires food maker, which now is publicly held Buda now has its first publicly held company after one of its best-known employers, gourmet and specialty foods maker Jardine Foods, was gobbled up...

Energy firm generates $53M.
October 6, 2000... The Netherlands' largest utility company will invest up to $53.3 million in a local "green" energy company. Amsterdam-based Nuon International is pumping the money into Austin-based Green Mountain Energy Co. to help support the company's...

$10M worth of stuff.
October 6, 2000... Austin's allmystuff Inc. has snagged $10 million in funding from TL Ventures, with Dell Ventures, AVLabs and Austin Ventures pitching in. The year-old company plans to invest the money in developing products and building its marketing and...

Engineering a new company.
October 6, 2000... Seed venture firm AV Labs has invested $600,000 into a new company that will give its 17 portfolio firms access to engineering expertise and employees. AV Labs Engineering -- headed by Newgistics Inc.'s interim vice president of...

Frog dollars.
October 6, 2000... Austin entrepreneurs Steve and Sarah Smith donated $10.5 million to Texas Christian University in Fort Worth -- the largest gift ever made to the home of the Horned Frogs by non-alumni. The gift will go toward the construction of a building...

Woman's world.
October 6, 2000... A man, Lt. Gov. Rick Perry, will host the first Texas Conference for Women on Oct. 10 at the Austin Convention Center. The conference will address business, career and financial issues. Speakers will include Nancy Dickey, past president of...

Two's better than one.
October 6, 2000... The City Austin and the Austin Independent School District have formed a partnership to build a multipurpose complex in the historic St. John neighborhood, east of I-35 and south of U.S. 183. The complex marks the first time AISD and the...

Return of the Dragon.
October 6, 2000... Kung Fu legend Bruce Lee is featured in a new series of advertisements for Austin-based online brokerage firm CyBerCorp Inc. The television and print ads, created by Austin agency GSD&M, include some of the late master's comments from his...

Museum shoots for the star.
October 6, 2000... The Austin Children's Museum has landed a heavy hitter as its new executive director. Gwendolyn Crider will join the museum next February after serving for four years as director of SciTrek, an 11-yearold museum in Atlanta. The Austin...

CORRECTION.
October 6, 2000... A story in the Sept. 29-Oct 5 issue of the Austin Business Journal, "Austin's job hoppers leap 'back to basics'," incorrectly spelled Stephanie Beard's name and incorrectly stated Vignette Corp.'s employee rention rate. The rate is 97 percent.

Telecom company gearing up for IPO.
October 6, 2000... RICHARDSON -- Chorum Technologies Inc., which makes components used in telecommunications equipment, has raised $100 million in private equity financing on a valuation of $1.1 billion and is preparing to file for an initial public stock...

Houston wins bidding for psychiatric clinic.
October 6, 2000... HOUSTON -- Baylor College of Medicine and Methodist Health Care System, both in Houston, beat the University of Texas Southwestern Medical Center at Dallas for an alliance with Menninger, a world-renowned psychiatric corporation and clinic. ...

Online car company revs up.
October 6, 2000... Selling cars online isn't all that easy, as Austin's carOrder.com Inc. discovered this summer when it laid off most of its staff and jump-started its entire business strategy. But what about auctioning used cars online? One Round Rock-based...

$60M project planned.
October 6, 2000... Downtown development to contain more than 600,000 s.f. of condos, offices, retail An Austin design and construction firm plans to develop more than 600,000 square feet of condominiums, offices and retail space downtown. ...

Vet supply firm expands.
October 6, 2000... TW Medical Veterinary Supply Inc., a Leander-based veterinary supplier, has acquired Ontario, Calif.-based Premier Vet Supply Inc. TW Medical declined to disclose the purchase price. The two companies will operate as separate divisions...

Web firm now is on edge.
October 6, 2000... CEO of EpicEdge consulting firm steps down days after it draws $2 million from two VC funds EpicEdge Inc., a Houston-based Web consulting company that recently leased space in Austin for its corporate headquarters, closed on $2 million in...

Applied Mechanical gets $5M from GE, hires CFO.
October 6, 2000... Austin's Applied Mechanical Consulting Group Inc. has received a $5 million line of credit from GE Capital Business Credit, the investment arm of General Electric Co. Applied also has hired a new chief financial officer, Johannes Brinkman,...

Cap Gemini E&Y boosts high tech presence here.
October 6, 2000... Cap Gemini Ernst & Young, the former consulting arm of Ernst & Young LLP, is tapping the fast-growing high tech market in Austin by opening a new downtown office and naming new partners. The consulting firm moved into 2,000 square feet of...

Expeditrix collects $7M from TL, other investors.
October 6, 2000... An Austin company that specializes in closing residential real estate deals online has closed on its own deal of $7 million, largely from TL Ventures. The financing is the first round for Expeditrix Corp., which launched its SmartClose...

California firm purchases 2 Barton Creek buildings.
October 6, 2000... A California real estate investment company has purchased a Class A office complex in Austin and might be preparing to buy another building here. PMRealty Advisors Inc. closed Sept. 22 on Barton Creek Plaza II and III, buying the...

Motorola, others chip in $4.5M for Austin firm.
October 6, 2000... Austin's Cynergy System Design Inc. has received $4.5 million in first-round financing from Motorola Inc.'s Austin-based Semiconductor Products Sector LLP, a Dallas venture capital firm and a Japanese semiconductor company. Cynergy makes...

Analog to take space Northwest.
October 6, 2000... Integrated circuit maker Analog Devices Inc. is more than doubling its Austin offices and plans to expand its local staff by more than 30 percent. Publicly held Analog Devices, based in Norwood, Mass., designs and manufactures digital and...

Sheshunoff Information closes production plant.
October 6, 2000... Sheshunoff Information Services Inc. has closed its printing and production plant in Southwest Austin, leaving the fate of about 25 employees up in the air. Daniel Peak, managing director of Sheshunoff, says the company plans to...

Proposal between Stratus, City raises hopes and ire.
October 6, 2000... The prospect of a settlement between Stratus Properties Inc. and the City of Austin to allow further development on parts of 4,000 acres in Southwest Austin is raising the hopes of some -- and the ire of others. "It's way too much...

Tech summit: Working to find qualified workers.
October 6, 2000... Texas is in the throes of a real Catch-22. The economy is thriving, economic development is at an all-time high and unemployment is at an all-time low, yet the state doesn't have enough qualified workers to keep up with the boom. And...

3M to acquire manufacturing company in Indiana.
October 6, 2000... 3M Co. says it is buying New Albany, Ind.-based Robinson Nugent Inc. The tax-free, stock-for-stock transaction is valued at $115 million, including assumption of debt. Robinson Nugent, a manufacturer of electronic connector products...

Lack of capital hurts minorities.
October 6, 2000... U.S. economic growth could be stifled unless minority-owned businesses gain access to more capital, a new study concludes. The number of minority-owned businesses grew 17 percent a year over the past decade - six times the growth rate of...

Most execs act on exit interviews.
October 6, 2000... Nearly two-thirds of executives say they frequently act on information gathered during exit interviews, according to a new survey. The survey, developed by OfficeTeam and conducted by an independent research firm, questioned 150 executives...

Arranging our lives.
October 6, 2000... Austin man reorganizes home, office environments Organized people never lose files, miss deadlines or spend 15 minutes looking for their keys. If you're not one of those people, you probably haven't met Barry Izsak, professional organizer....

Good things can come from a bad promotion.
October 6, 2000... It happens time and time again. A company has a strong employee, one who is dedicated, hardworking and loyal to the business. So as a reward, the company promotes this employee. However, within a couple of months -- or sometimes even...

State agencies giving forecast for tech needs.
October 6, 2000... Attention technology vendors, take note: State agencies are in the process of documenting technology needs and announcing their plans. State agencies are filing strategic plans that point out their technology needs and plans for the next...

Simplified teams up with San Diego company.
October 6, 2000... Austin's Simplified Inc. has formed a partnership with Nuera Communications Inc. that will enable service providers to deliver voice services over the Internet. The alliance 'will combine Simplified's Internet protocol-based architecture...

Baxter Planning names former UPS exec as chairman.
October 6, 2000... Austin-based software development and consulting company Baxter Planning Systems Inc. has a new chairman. Ray Thurston assumed that post after making what the company calls a "significant financial investment." Baxter's software...

Wayport names new chief executive.
October 6, 2000... David Vucina has been named CEO at Austin's Wayport Inc. Vucina was chief operating officer at Pronet,a paging company. He will sit. on Wayport's board of directors. Company founder Brett Stewart has been Wayport's CEO and president...

Industry campaign tries to dress up work wear.
October 6, 2000... Has casual Friday gone too far? Absolutely, according to a new association of menswear retailers that kicked off a campaign Sept. 28 to promote "Dress Up Thursdays" at big and small businesses. "When my firm went casual on Friday, you...

NFIB charges EPA with 'betrayal' of small firms.
October 6, 2000... The National Federation of Independent Business accuses the Environmental Protection Agency of "a total betrayal of small business" by opposing legislation to exempt companies with 100 or fewer employees from liability for garbage dumped at...

New 'Get Tech' campaign targets middle schoolers.
October 6, 2000... The U.S. Department of Commerce and the National Association of Manufacturers launched a new public service campaign to interest middle-school students in high tech careers and encourage them to take the necessary math and science courses. ...

Doctors, employers read census report differently.
October 6, 2000... The American Medical Association says the decline in the number of Americans without health insurance disproves the argument that HMO reform legislation would lead employers to drop health coverage. The Census Bureau says the number of...

Small businesses often get wrong answers at IRS site.
October 6, 2000... A recent study found the Internal Revenue Service's Electronic Tax Law Assistance system provides more accurate information than commercial Web sites. But the fact that small business taxpayers got correct answers 54 percent of the time...

Balancing act: Leaders set workplace example.
October 6, 2000... There's a lot of talk these days about getting a life. You overhear people in coffee shops talking about how they need more balance in their lives. You see numerous self-help books on sagging bookshelves dealing with this life-balance...

Adam Dell's Impact.
October 13, 2000... VC firm founded by Michael Dell's younger brother to open office in Austin -- its first outside N.Y. Dell is back in Austin -- Adam Dell, that is. The 30-year-old younger brother of Michael Dell, chairman and CEO of Dell Computer...

The whole enchilada.
October 13, 2000... Austin real estate developer makes bid of more than $7M for Fort Worth restaurant chain Commercial real estate developer and restaurateur Stephen "Duffy" Oyster of Austin has hid $7.35 million in cash to acquire Fort Worth-based Pancho's...

Hopes fly high for customs.
October 13, 2000... New flights at Austin-Bergstrom International Airport offering direct air cargo service to Asia are raising local officials' hopes for customs services 24 hours a day. Eagle Global Logistics has added a DC-10 offering inbound and outbound...

'Ingaged' in a new venture.
October 13, 2000... Steve Guengerich, vice president of Austin's Agillion Inc., is stepping down to start a new marketing company with Lynne Skinner, former director of firm development at Austin Ventures. The new company will be called Ingage Communications....

Found money.
October 13, 2000... The Roy F. and Joann Cole Mitte Foundation will make a big announcement at a private reception to open the foundation's new offices at River Place Pointe -- creation of $17 million worth of business scholarships. The Mittes will make a...

Golden moment for Red.
October 13, 2000... OK, so there won't be giveways of cars or footballs. But car dealer and Minnesota Vikings owner Red McCombs and his wife, Charline, will be on hand Oct. 26 for the formal dedication of the Red McCombs School of Business at the University of...

Run with a reason.
October 13, 2000... Austin's Motive Communications Inc., soon to launch its initial public offering, will host its first 10K race Oct 15. Called the Bison Stampede, the race will benefit the Southwest Texas Chapter of the Leukemia & Lymphoma Society. Motive...

Capital connections.
October 13, 2000... A Chicago-based online firm that connects venture capitalists with entrepreneurs has tapped Glenn Dubin, former business development manager at The Capital Network, to head its Southwest office in Austin. The company, vcapital, will kick...

Dell gets spooky.
October 13, 2000... Dell Computer Corp. will run the server for the "I See Scary Movies Contest" on ABC-TV's "Good Morning America." The contest allows participants to submit digital movies to the show through a Web site hosted and powered by Dell. The winning...

No powder puffs please.
October 13, 2000... Central Texas will be the home turf for a new all-women, full-contact tackle football team. The Austin Rage will play its first game Oct. 14 at Leander Memorial Stadium against the Houston Energy. The game will kick off the Women's...

CORRECTION.
October 13, 2000... A story in the Oct. 6-12 issue of the Austin Business Journal incorrectly stated the size and cost of La Vista on Lavaca, Guerrero-McDonald & Associates Inc.'s mixed-use project planned for 1701 Lavaca St. The project is expected to cost $15...

Houston firm buys big Dallas complex.
October 13, 2000... DALLAS -- Houston-based Spire Realty Co. is aiming to breathe new life into the biggest vacant block of office space in Dallas' Central Business District with a mixed-use retail, office and high-rise multifamily redevelopment. Spire has...

San Antonio to help 'reverse commuters'.
October 13, 2000... SAN ANTONIO -- The Alamo Area Council of Governments is spearheading an effort to develop the area's first "reverse commute" pilot project. The project is designed to transport low-income workers and welfare recipients living in San...

Two major consolidators roil their own firms into one.
October 13, 2000... HOUSTON -- Two forces behind the consolidation craze in Houston have rolled their own local firms into one. Backed by a mix of Houston CEOs and executives, the deal-making duo's new company has launched a $30 million equity fund aimed at...

San Antonio officials hope to open high tech center at Kelly.
October 13, 2000... SAN ANTONIO -- City officials and the Alamo Community College District are talking through plans to open a center at Kelly Air Force Base to train workers for high tech businesses in San Antonio. The deal also would mark the end of a...

Dallas suburb on track to get first-full service hotel in 2002.
October 13, 2000... LEWISVILLE -- The shore of Lake Lewisville is on course to harbor Lewisville's first full-service hotel by 2002. Mike Geddie and other Texas investors are planning the $30 million, 224-room Trident Lakeside Resort on Eagle Point Drive. ...

AV makes a name for itself.
October 13, 2000... VC firm to get name on exterior of downtown CarrAmerica tower, where it's leasing 2 floors The largest venture capital firm in the Southwest has leased the top two floors of Austin's newest downtown office tower. However, Austin...

RV dealer is on a roll.
October 13, 2000... Marshall's Traveland plans to expand into burgeoning 'Motor Mile' for RV dealerships A land deal will help foster Buda's budding reputation as the place to buy recreational vehicles. Jerry Keesee, president and owner of Marshall's...

Group to snap up Reserve.
October 13, 2000... Simmons Vedder to sell 3-building complex to investor behind REIT Management A group that has amassed more than 3 million square feet of Austin real estate over the past three years is adding one of Northwest Austin's newest office...

Firm to leave its nest here.
October 13, 2000... New incubator company to move HQ to Kansas City after departure of its Austin partner An incubator company based in Austin is moving its headquarters to Kansas City, Mo., after the Austin co-founder resigned. Launch Plans Venture...

Caterer now catering to hotel, meeting business.
October 13, 2000... Austin catering company Sterling Affairs has bought the wedding and events center it previously leased, along with an adjacent hotel and conference center overlooking Lake Travis. David Drapela, general partner of the new owning...

DomainLogix opens European headquarlers.
October 13, 2000... Austin's domainLogix Corp. has opened a European headquarters in Cambridge, England. David Wilson has joined the company as director of the European operation. Wilson has 20 years of manufacturing experience, mostly in the semiconductor...

Kurion changes model, lays off 19 employees.
October 13, 2000... Austin-based Web content company Kurion Inc. recently laid off 19 people, bringing its total headcount to 31, in a move designed to change its business model. Kurion, which has raised a little more than $6 million in first- and...