Sacramento Business Journal articles from May 1998

Sacramento Business Journal archives from May 1998

Sutter's income triples as Mercy's drops; Sutter's numbers boosted by stocks. (Sutter Health; Mercy Healthcare Sacramento)
May 29, 1998... Sutter's numbers boosted by stocks Sutter Health's income nearly tripled last year, but most of what the company netted came from its investments on Wall Street. The company did show a big financial improvement in the day-to-day operations...

Mercy hospitals lose $3.6 million. (Sutter's income triples as Mercy's drops.)(Mercy Healthcare Sacramento)
May 29, 1998... While Sutter Health's local hospitals were growing much stronger last year, rival Mercy Healthcare Sacramento lost ground. Mercy's five area hospitals reported a combined net loss of $3.6 million, according to figures from the Office of...

Building wave ahead for North Natomas.
May 29, 1998... Real estate developers are unveiling myriad proposals for North Natomas, now that the constraints to construction have been resolved. A host of well-known builders is planning projects in the 4,300 acres that make up the city of Sacramento's...

Three firms get money to pursue alternative uses for rice straw.
May 29, 1998... Three companies have been awarded a total of $2 million in state grants to turn California's rice straw waste into something useful. The California Air Resources Board awards will help fund the companies' projects. One company plans to have...

Coherent slates expansion in Auburn. (Coherent Auburn Group)
May 29, 1998... Coherent Auburn Group plans to build an $8 million building next to its Auburn campus to accommodate mounting needs for extra manufacturing space. But given the size of the investment, the company is still studying the best timing to start...

A big debut on Wall Street: Waste Connections of Roseville connects to $24 million.
May 29, 1998... Waste Connections of Roseville connects to $24 million Waste Connections Inc. of Roseville, a company that came out of nowhere just eight months ago, raised $24 million last Friday when it went public. "We want to be the big fish in the...

Play Inc. ready to launch more computer gizmos.
May 29, 1998... Play Inc. of Rancho Cordova plans to roll out two new computer products later this summer. One, Gizmos 98, is a $50 software package designed to enhance the business tools and entertainment options of Windows 98, which is due out from...

ZF uses tiny PC to target a huge market. (ZF MicroSystems)
May 29, 1998... ZF MicroSystems, which develops credit-card-sized personal computers, is eyeing revenue growth this year of at least 1,200 percent. ZF aims to plug into the wide-open industrial market for embedded PCs, those that are installed within other...

Firms realize training is the only way to keep up.
May 29, 1998... New skills help employees stay in touch Every time a business upgrades its software, converts its computer system or merges with another company, employees need to be retrained. In addition, many companies routinely provide worker...

Jet noise battle ahead at Mather. (Mather Airport in Sacramento, California)
May 22, 1998... Just as Mather Airport is becoming an important hub for air cargo companies, a problem could be emerging that has bedeviled airports all around the country. Cargo companies are worried that Mather will be hemmed in by new houses. "They're...

Waste hauler on the buyout trail. (Waste Connections Inc.'s initial public offering)
May 22, 1998... Waste Connections Inc., a garbage hauling and processing company that was started in Roseville in September, is about to go public with a $19.3 million stock offering. The initial public offering is expected to hit the market today, said a...

UCD next up in rate fight. (UC Davis Health System)
May 22, 1998... Mercy joins Sutter in battling Blue Cross Sutter Health was first. Now it's Mercy Healthcare Sacramento's turn. And the UCD Health System is waiting in the on-deck circle. It appears that a hospital mutiny is occurring, aimed at health...

Payout ends nine-year ordeal for Pacific Standard policyholders. (Pacific Standard Life Insurance Co.)
May 22, 1998... Nine years after Pacific Standard Life Insurance Co. was closed down by state examiners, the ordeal is coming to an end for people who bought policies from the Davis company. A final distribution of $85 million will be paid to policyholders...

El Nino runs amok in tomato business.
May 22, 1998... Wet weather is wreaking havoc on the tomato industry. The yield in California could be down by as much as 1 million tons - about 6 percent of the world's supply. Although a smaller crop generally means higher prices, many farmers say...

As a King, Webber's marketing value dips. (Chris Webber of Sacramento Kings basketball team)
May 22, 1998... Chris Webber's endorsement potential could be nil, thanks to his trade to the low-visibility Sacramento Kings. Coming on the heels of his legal troubles, Webber could find it difficult to land lucrative sponsorship deals in a small market....

River City Bank cools toward hot lending market.
May 22, 1998... River City Bank is easing back on its loan business because the market is getting too intense. The bank is still making loans, but it's being less aggressive about it. "People are chasing loans that we don't want to chase," said Allen...

Health Net ends new policy sales, lays off 20 staff.
May 22, 1998... Health Net laid off 20 salespeople Tuesday following a decision to stop selling new medical insurance policies to individuals. Eight of the 20 work in Sacramento at Health Net's Individual and Family Plan division, which employs a total of...

Yolo Community Bank looking for $4.5 million.
May 22, 1998... The organizers of Yolo Community Bank are taking the final step toward opening the bank's doors: raising $4.6 million in capital. Several weeks ago the organizers hand-delivered the bank's offering circular to about 75 potential investors....

'Clean rooms': education that's not in a vacuum. (laboratories with special filters and fans to minimize particulates)
May 22, 1998... Sacramento's high-technology future will be enhanced soon when California State University Sacramento joins the University of California at Davis in sporting its own "clean room." Research conducted in the two separate clean rooms -...

Saving Delta puts ag land at risk. (threat to irrigated farmlands of a state and federal program to protect the environment)
May 8, 1998... Farmers fear that a state and federal program to protect the environment and improve water supplies in the Delta could result in taking up to 11 percent of the state's irrigated farmland out of production. As state and federal authorities...

Foundation profit takes sharp drop. (Foundation Health Systems Inc.)
May 8, 1998... This week's sale by Foundation Health Systems Inc. of its workers' compensation divisions is part of an overall strategy to cut its losses as earnings continue to plummet. On Tuesday the health plan released first-quarter earnings that are...

Plan unveiled for West Sac buildings. (waterfront development in West Sacramento, California)
May 8, 1998... Developer Peter McCuen has unveiled plans to put up two massive office buildings on the waterfront in West Sacramento. The buildings, called "One Capitol Mall-West," would go into Raley's Landing. It is a property McCuen has been working to...

Telestream has a dream; ex-Grass Valley Group head launches firm. (Dan Castles)
May 8, 1998... The former head of operations for Grass Valley Products has formed a new company with a promising video technology. In February, Dan Castles founded Telestream 'Inc. in Grass Valley. His new company is developing technology that will let...

The last lone wolf: Marshall wrestles managed care. (Marshall Hospital)
May 8, 1998... A management shake-up, ongoing red ink and a critical audit in October indicate problems at Marshall Hospital's fledgling managed-care organization. The Placerville hospital has spent $4.8 million since 1995 in its attempt to move into the...

Syntu works its way into market for phone gizmos. (Syntu Technologies Corp.)
May 8, 1998... A small Grass Valley company is trying to raise $1 million to start manufacturing a new small-business phone system that runs on personal computers. Syntu Technologies Corp. hopes to raise the money by selling debentures that can be...

At Full Belly, organic farmers deliver to your door. (Full Belly Farm)
May 8, 1998... Most people picking through the produce at Safeway don't know where the fruit and vegetables are grown. But Full Belly Farm's customers know exactly where their produce comes from. They've been there. A dirty road bordered by purple vetch...

California Fed expands on two fronts; First Nationwide subsidiary adds 275 workers after buying Golden State Bancorp.
May 8, 1998... First Nationwide subsidiary adds 275 workers after buying Golden State Bancorp California Federal Bank is expanding in West Sacramento, adding a new office in North Sacramento and increasing its local work force by 275 people. CalFed, a...

Wells, Bank of America sign on with Farmer Mac. (Wells Fargo Bank; Federal Agricultural Mortgage Corp.)
May 8, 1998... California's two largest banks are jumping into a federal lending program for agricultural real estate loans. This month Wells Fargo Bank began making ag loans under the Federal Agricultural Mortgage Corp. program, popularly known as Farmer...

Bus/ferry service quietly catching on. (Sacramento, California)
May 8, 1998... Sacramento drivers who are tired of dealing with the traffic jams heading into the Bay Area now have another alternative - a bus/ferry service. Last month the city of Vallejo quietly launched a feeder bus service from Sacramento that links...

Oates pumps $100 mil. into mortgage firm. (commercial developer Buzz Oates; Allbaugh & Ramos Commercial Mortgage Advisors)
May 1, 1998... Buzz Oates is planning to invest $100 million in a commercial mortgage company that aims to hit the marketplace next year. The area's largest commercial developer, Oates said he plans to commit $100 million to turn Allbaugh & Ramos Commercial...

Developers plan huge office, retail and hotel project in Roseville. (Evergreen Co. and Donahue Schriber Realty Group)
May 1, 1998... The Evergreen Co. and a Southern California developer have unveiled their plan to build a massive office, retail and hotel project on Highway 65 in Roseville. The development cost for the 1.4 million-square-foot Creekside Center project...

Mountain Mike's cooks up growth by co-branding with Jreck's. (Mountain Mike's Pizza and Jreck Subs Group Inc.)(includes related article on the benefits and limitations of co-branding)
May 1, 1998... Mountain Mike's Pizza, the Sacramento chain bought by a Florida company last year, is about to open parlors in as many as 250 more outlets across the country. Mountain Mike's was bought eight months ago by Jreck Subs Group Inc., a publicly...

Government pacts will boost three health plans. (Vision Service Plan, Access Dental Plan and Omni Healthcare)
May 1, 1998... Three local healthcare companies stand to pick up millions in new income when a government-sponsored program for uninsured children kicks off July 1. The three firms - Vision Service Plan, Access Dental Plan and Omni Healthcare - are among...

First-quarter earnings jump 44 percent. (El Dorado Savings Bank's 1st qtr. 1998 profits)
May 1, 1998... Local banks and thrifts likewise enjoy a hefty rise in assets Sparked by El Dorado Savings Bank, local banks and thrifts had a collective 44 percent increase in first-quarter profits. Areawide earnings hit $6.1 million, compared to $4.3...

New bank puts out its pitch for $11 million. (Bank of Sacramento)
May 1, 1998... Bank of Sacramento circulated its stock prospectus this week, trying to raise a minimum of $11 million to get the new venture open by July. The circular is being sent to anyone who asks. Bank organizers plan to issue 1,250, "but we'll print...

Airport opts for shops run by Atlanta concessionaire. (Sacramento International Airport; Paradies Shops Inc.)
May 1, 1998... Paradies, a $150 million firm, joins growing list of Sac International vendors Paradies Shops Inc., an airport concessionaire based in Atlanta, has been chosen to open five retail outlets at Sacramento International Airport. Paradies is a...

Tight budget keeps restaurant afloat. (Couscous Gourmet & More in Sacramento, CA)
May 1, 1998... If you can't control the amount of business coming in, you can still control the amount of dollars going out. And if pinching pennies helps his new restaurant survive its first full year, Khaled Umbashi figures he'll be OK. What worries him...

Commercial properties remain red-hot properties.
May 1, 1998... When the Pepperwood Apartments, a 168-unit complex in Roseville, was offered for sale recently, prospective buyers made 10 offers within seven days, and the complex was sold for $2 million more than the minimum bidding price. That wasn't an...