Business Courier Serving Cincinnati - Northern Kentucky articles from February 2000

Business Courier Serving Cincinnati - Northern Kentucky archives from February 2000

Gap may close N. Ky. centers.
February 25, 2000... Jobs at stake if clothier makes shift to Columbus Hundreds of local jobs are at stake as The Gap Inc. is considering pulling the plug on four Northern Kentucky distribution facilities and moving the operations to Columbus, sources said....

The new bargain hunter's paradise.
February 25, 2000... LONG SEEN AS A NEIGBORHOOD in decline, Price Hill may soon emerge as a housing hot spot. Chip Glaser spends most Sundays driving around the city in an old Buick station wagon, smoking 40-cent cigars and hunting for land deals others have...

AutoNation site sold to Web-based car seller.
February 25, 2000... Giant Butler County facility to be used by iMotors.com A West Coast used-car "e-tailer" will stage its-East Coast invasion from a huge Butler County facility formerly owned by AutoNation USA Inc. San Francisco-based iMotors.com,...

Group of local radio stations to be sold soon.
February 25, 2000... We don't know who the buyer will be, but it looks like the sale of four local radio stations is close. Those stations, which include two FM country channels and a pair of sports talkers, are part of the 100-plus station package that Clear...

Franciscan in Dayton sued by heart hospital.
February 25, 2000... Courier staff reporter Lauren Lawley Head contributed to this article. Construction share not paid, suit alleges The head of the new Dayton Heart Hospital said the institution would never have partnered with Franciscan Medical Center...

New project head on deck.
February 25, 2000... Four vying to replace Getz on Reds stadium With 37 months to go until the scheduled opening of the new Reds ballpark, Hamilton County is about to bring in a relief pitcher. In the bullpen are four companies hoping to replace Getz...

Few dot.com hits for local ad agencies.
February 25, 2000... LOCAL DOT.COM START-UPS ARE going out of town for marketing services, leaving local agencies scrambling to grab some business. When Nik Kalyani, CEO of local Internet startup iWidgets.com, began shopping for help with public relations and...

Virtual incubator uses Web to counsel start-ups.
February 25, 2000... Adviser team comes from different parts of country A new dot.com incubator located on Cincinnati's riverfront plans to bring at least three new companies to market this year. Called eidea, the incubator's goal is to sell the start-ups off...

Florist returns to permanent home.
February 25, 2000... Ten months after a tornado tore through Harper's Crossing in Symmes Township, Adrian Durban Florists Inc. is back home. The shop had been operating in a temporary storefront CEO Kerry Durban said business fell by 10 percent while the store...

Warsaw Federal to open new branch.
February 25, 2000... Warsaw Federal Savings & Loan in Price Hill has applied with the Office of Thrift Supervision to open its first branch office, in the former Oak Hills Savings & Loan location on Gracely Drive in Sayler Park. At $50 million in assets, Warsaw...

Cincinnati Financial gets 'strong buy'.
February 25, 2000... Baltimore-based brokerage Ferris Baker Watts has initiated coverage of Cincinnati Financial Corp. with a "strong buy" rating. On Feb. 15, analyst John Keefe became the first investment house to place a "strong buy" rating on the Fairfield...

Taft Stettinius Web site wins award.
February 25, 2000... Taft, Stettinius & Hollister LLP has the 25th best law firm Web site in the country, according to a new ranking by Boston-based Red Street Consulting. The site, www.taftlaw.com, also ranked first in the state of Ohio.

International wins marketing contract.
February 25, 2000... CEO Dennis Speigel announced International Theme Park Services Inc. is now the exclusive sponsorship marketing agency for UnderWater World at the Mall of America in Minneapolis. UnderWater World is a 1.2 million gallon aquarium that is an...

Provident stung by West Side defections.
February 25, 2000... Depositors deserting former OHSL branches Provident Financial Group Inc.'s bid for regional retail banking supremacy has taken a hit from customer defections on the West Side. On Dec. 6, Provident closed on its $57 million...

NS Group looks for gold in oil price hike.
February 25, 2000... More drilling will boost demand for products Jack Parker admits to being somewhat puzzled by the economic realities playing out in the oil industry lately. As CFO of Newport-based NS Group Inc., which manufactures tubular steel goods...

Real estate venture firm on lookout for hot deals.
February 25, 2000... Investors seeking almost any kind of transaction A private venture capital fund is on the lookout for regional real estate-deals in which it can invest up to $1.5 million. Real Estate Venture Capital LLC was formed last year by a...

Cincinnati leading state in use of Internet.
February 25, 2000... Area moves ahead in e-business, Net access Southwestern Ohio is on par with the rest of the nation when it comes to Internet access and leads the state in the use of the World Wide Web, according to a Feb. 24 report of the E-Com Ohio Task...

Zaring plans development near Dayton.
February 25, 2000... Zaring Homes Inc. is planning its first major development in the Greater Dayton area. While Zaring has been building homes on a limited basis in the Miami Valley since 1997, it is now proposing a 200-acre, 345-home single-family...

Ex-Bearcat to tap NBA pals for Forest Park facility.
February 25, 2000... A former University of Cincinnati basketball player from the Tony Yates era is one of the pivotal players behind a major new basketball/athletic facility taking shape in Forest Park. The project may be co-financed by current and former...

Health Alliance to limit joint implant suppliers.
February 25, 2000... The Health Alliance is risking the wrath of area orthopedic surgeons with a new deal designed to cut the cost of joint implants. The hospital system, which includes Christ, University, St. Luke, Jewish and Fort Hamilton hospitals, will...

LanVision gets $2.9M for sale of Mason data center.(Brief Article)(Statistical Data Included)
February 25, 2000... LanVision Systems Inc. sold its Mason-based data center to a Georgia company for $2.9 million. The sale, which will generate a gain of approximately $1.4 million, allows LanVision to focus its efforts on its core business -- software. ...

ING Barings.(Brief Article)(Statistical Data Included)
February 25, 2000... The European brokerage firm ING Barings upgraded its recommendation for Kendle International Jan. 27 from "hold" to "buy." ING Barings has Kendle's price target at $18 and growth rate at approximately 25 percent. The firm expects contract...

Bridge Integrated Communications.(www.eyemedvisioncare.com)(Brief Article)
February 25, 2000... Bridge Integrated Communications created and launched a new Web site for EyeMed Vision Care, the managed care unit of Luxottica Group. The site, www.eyemedvisioncare.com, offers online claims processing and benefit information for members and...

Bill to reimburse firms for OSHA cases tabled.(Occupational Safety and Health Administration)(Brief Article)
February 25, 2000... Prospects look bleak for legislation that would reimburse small businesses for their legal costs when they win cases brought against them by the Occupational Safety and Health Administration or the National Labor Relations Board. The...

Bush beats McCain even in telecom contributions.(Brief Article)(Statistical Data Included)
February 25, 2000... As chairman of the Senate Commerce Committee, Sen. John McCain can make or break telecommunications legislation. So it's no surprise that telecommunications is McCain's "sweetest industry" for campaign contributions, said Larry Makinson,...

Nader: NFIB is 'pushing big business policy line'.(National Federation of Independent Business)(Ralph Nader)(Brief Article)
February 25, 2000... Green Party presidential candidate Ralph Nader said the nation's largest small business advocacy group is instead "pushing the big business policy line." Nader said the National Federation of Independent Business, which has 600,000...

Small business group says Bush has best tax plan.(Brief Article)(Statistical Data Included)
February 25, 2000... The Small Business Survival Committee gave George W. Bush's tax plan a B+, praising the Republican presidential candidate's "broad-based" tax cut and elimination of the estate tax. The Texas governor's rival for the GOP nomination, Sen....

Lawyers ban 'pay-to-play' for government contracts.(Brief Article)
February 25, 2000... The American Bar Association voted to prohibit lawyers from making campaign contributions to state and local officials in hopes of winning legal work from them. The vote ended three years of debate on "pay-to-play" by the ABA. It...

Kroger exec gives $1M to schools.(Kroger Co.)(Brief Article)(Statistical Data Included)
February 25, 2000... Joseph Pichler, chairman and CEO of Kroger Co., the largest grocery chain in the U.S., teamed with his wife Susan to donate $1 million to the Catholic Inner-City Schools Educations Fund. The money will establish a found for school capital...

P&G to build research center.(Procter & Gamble Co. )(Brief Article)
February 25, 2000... The Procter & Gamble Co. plans to build a state-of-the-art research and development facility on the site of its former detergent processing plant in St. Bernard. Construction on the project, dubbed the Fabric & Home Care Innovation Center, is...

American Financial earnings slide.(Brief Article)(Statistical Data Included)
February 25, 2000... American Financial Group Inc. reported 1999 net earnings of $150 million, or $2.50 per share, compared to net earnings of $159 million, or $2.56 per share in 1998. The Cincinnati-based insurer had revenues of $3.3 billion this past year vs....

UDF wins racism case.(Brief Article)
February 25, 2000... United Dairy Farmers has won a favorable verdict from a Columbus federal jury in a case accusing the retail chain of discrimination. A 1998 jury decision in favor of UDF was thrown out by a federal judge, forcing the case to be retried. The...

Metro union approves contract.(Brief Article)
February 25, 2000... Metro's employee union approved a new three-year labor contract effective through Jan. 31, 2003. Approximately 760 Metro bus drives, mechanics, maintenance and support employees are covered under the new contract. The contract must receive...

ViewSource predicts growth.(Brief Article)(Statistical Data Included)
February 25, 2000... Founder and CEO John Harris of ViewSource Media, an integrated marketing communications firm, predicted his firm will reach a 500 percent increase in revenue this year, on the heels of a 400 percent increase in 1999. No specific financial...

Meridian gets FDA test approval.(Brief Article)
February 25, 2000... Meridian Diagnostics Inc. received clearance from the U.S. Food and Drug Administration to market its Premier test for toxigenic C. difficile, a serious and potentially fatal diarrhea condition. Meridian officials said their new test can...

Bengals stadium.(Construction of Cincinnati Bengals' stadium)(delayed by floodwaters)(Brief Article)(Statistical Data Included)
February 25, 2000... High water may add more than $100,000 in new cost overruns to the Bengals stadium project. So says Dan Streyle, the county's project manager, who estimates up to $20,000 in drywall will have to be replaced. "We didn't do a god enough...

Hart Productions Inc.(Brief Article)
February 25, 2000... Clifton-based Hart Productions Inc. may go virtual. The family-owned comp any, known for its consumer trade shows at Cincinnati's downtown convention center, is at the early stage of exploring whether a Web-based trade show would work....

American Bar Association.(Brief Article)
February 25, 2000... Attorney Bill Robinson has been elected to the American Bar Association's board of governors for a three-year term beginning in July. Robinson is the first Cincinnatian in 70 years and the first Northern Kentuckian ever to be elected to...

READY FOR THE spotlight.(Brief Article)
February 25, 2000... HSR Business-to-Business looks for ways to fund its growing niche on the Internet. Richard Segal said he feels like a parent discovering his child is a virtuoso, not just a good piano player. And like any good parent, Segal is doing...

Construction firm keening eye on bottom line.(Brief Article)(Statistical Data Included)
February 25, 2000... Woodward's sales grew by 40 percent last year It was a nice change of pace for Jeff Woodward. Rather than traveling from his office to some of his construction company's work sites, Woodward set up shop at one over Christmas, his own...

Your employees have lives outside work, too.(Brief Article)
February 25, 2000... Is it possible to produce amazing results and still have a life? If you don't provide direction, they'll leave One of my clients -- I'll call him Sam -- is a senior executive with a fast-growing dot.com company. His company has plans...

PEOPLE ON THE MOVE.(Brief Article)
February 25, 2000... ARCHITECTURE/ENGINEERING Michael Kerr has joined BHE Environmental Inc. as technical director. ECO Engineering Inc. has hired Jeffrey Lyon as energy consultant for the Columbus and Central Ohio markets. Fifth Third Bank,...

Fifth Third Securities planning new unit trusts in 2000, beyond.(Brief Article)(Statistical Data Included)
February 25, 2000... Fifth Third Securities Inc., fresh off rolling out a unit investment trust that focuses on telecommunications and the Internet, is preparing at least two other UTTs for later this year. "We have some ideas," said Vice President Tom...

Johnson, Richardson funds placed at or near top by industry analysts.(Brief Article)(Statistical Data Included)
February 25, 2000... Two local funds have been named among the best in their categories by mutual fund research companies. The Bond Buyer magazine recently placed Johnson Investment Counsel's municipal bond fund at the top of the list in Ohio for 1999. The...

Tri-State money managers results coming in close to broader market's.(Brief Article)(Statistical Data Included)
February 25, 2000... The 1999 performance numbers for some of the city's independent money managers are in. Here is a quick snapshot. * Mench Financial Inc.'s aggressive equity portfolios returned just under 21 percent last year. The so-called aggressive...

COURIER RATE BAROMETER.(Brief Article)(Statistical Data Included)
February 25, 2000... COURIER RATE BAROMETER Latest Year ago Two Three week week wks. ago wks. ago AVERAGE INTEREST RATES 30-yr. mortgage ...

STOCK STATS.(Statistical Data Included)
February 25, 2000... STOCK STATS Exchange/ Year- Week- 52- 52- Ticker Close to-date ago net P/E week week Name of security Symbol 2/18/00...

MORNINGSTAR MUTUAL FUNDS.(Statistical Data Included)
February 25, 2000... MORNINGSTAR MUTUAL FUNDS TOP 20 GREATER CINCINNATI FUNDS Fund Star Net asset Yr.to-date 3-Yr. Rank Fund Name category rating value ...

Wave of tech offerings may trigger correction.(Brief Article)
February 25, 2000... Industrial, financial, consumer and transportation stocks of the 'old economy' have come under pressure amid talk that many value-oriented portfolio managers have been experiencing mutual fund redemptions and are being forced to sell stocks....

Webvan.(Brief Article)
February 25, 2000... Webvan, the leading online grocer, came public last November, selling 25 million shares -- 8 percent of its total -- to the public at $15 per share and raising $375 million in the process. The stock rose to a high of $34 and the threat of...

Caterpillar and Deere.(Brief Article)
February 25, 2000... One of the factors spooking old economy capital equipment stocks like Caterpillar and Deere and banks like Fifth Third and PNC is the inverted yield curve. Traditionally, investors view an inverted yield curve, when short-term rates are...

S&L STOCKS.(Brief Article)(Statistical Data Included)
February 25, 2000... S&L STOCKS Month 52- 52- Indicated Ticker Close ago net week week dividend Name symbol 2/18/00 chg. high low $...

MONEY MARKETS.(Brief Article)(Statistical Data Included)
February 25, 2000... MONEY MARKETS 7-day average Fund yield Countrywide Institutional Government 5.52...

EARNINGS.(Brief Article)(Statistical Data Included)
February 25, 2000... EARNINGS (Dollars in millions except per share data; revenues for financial institutions are net interest income plus other income) ...

DIVIDENDS.(Brief Article)(Statistical Data Included)
February 25, 2000... DIVIDENDS Increase Company Amount Period (from) Payable AK Steel Holding Corp. 12.5 cents...

INSIDER TRADING.(Brief Article)(Statistical Data Included)
February 25, 2000... INSIDER TRADING (Shares indicate common shares except as noted) Company/Officer Transaction Amount Price Date Cincinnati Financial Corp. John Schiff, ...

Crown Vantage battles debt and low paper prices.(Brief Article)
February 25, 2000... Firm moving here from California Since being spun off from the James River Corp. in August 1995, Crown Vantage Inc., which is moving its headquarters to Cincinnati, has struggled with a huge debt load and a slumping paper industry. ...

THE NUMBERS.(Crown Vantage Inc.)(Brief Article)(Statistical Data Included)
February 25, 2000... VITAL STATISTICS; (Dollars in millions except per share data and ratio figures) Net Earnings Book value Return on Return on Debt-to- Year Revenues income per share per share...

Kings Island is major player in Warren.(Brief Article)
February 25, 2000... Attendance expected to grow with new coaster An estimated 3.3 million thrill-seekers visited Paramount's Kings Island in Warren County last year, making the amusement park a huge player in the county's economy. "We feel that we have...

Springboro adviser wins deals, loyalty.(Brief Article)(Statistical Data Included)
February 25, 2000... Personal attention keeps business owners happy Bernie Eichholz has built a reputation -- and an economy -- on personal service and hard-core incentives. While his friends were planning their retirements, at age 70, Bernie Eichholz...

Furniture maker looks to past to find treasures.(Reproductions wanted by Ralph Lauren, Jackie O )(Brief Article)
February 25, 2000... Reproductions wanted by Ralph Lauren, Jackie O David Smith might not tell you about the hundred pieces he's done for Ralph Lauren. He might forget to mention Jackie Onassis' Windsor chairs. "We're basic country people out here," he said....

Deerfield Township sees continued growth.(Brief Article)(Statistical Data Included)
February 25, 2000... 500 businesses now call the township home With the outward expansion of the Greater Cincinnati area, Warren County's Deerfield Township has grown from a quiet rural community to a bustling urban C center. In fact, Deerfield Township...

Giving securities to charity avoids capital gains tax.(Brief Article)(Statistical Data Included)
February 25, 2000... We have all heard it is better to give than to receive. It is even better to give to charity and receive benefits from the IRS. There are a number of ways to maximize the benefit you, the charitable cause and your heirs will receive. This...

TAX TIME INCHES CLOSER.(changes in tax laws for businesses)(Brief Article)(Statistical Data Included)
February 25, 2000... Minor changes in tax laws could affect this year's returns There are few major changes in tax laws for businesses this year, although some business owners may not be aware of minor changes that could affect the outcome of their returns....

Accountants aren't just doing taxes anymore.(Planning, consulting part of diversification )(Statistical Data Included)
February 25, 2000... Planning, consulting part of diversification The future of accounting is clear: It isn't just in accounting. As the divisions between commercial banking, investment banking and insurance grow increasingly murky, so too is the...

Tax law handicaps small-business entrepreneurs.
February 25, 2000... Questions and conflict cloud content of law Late last December, Congress passed and the president signed a new tax law that has stymied the plans of many entrepreneurs to buy or sell a small business. Enacted as part of the Tax...

Failure to file taxes can be annual trend.(Brief Article)(Statistical Data Included)
February 25, 2000... Individual tax problems can affect employers Those income statements and W-2 forms coming in the mail can only mean that April 15 is fast approaching. But for one in 15 individuals and businesses across the country, it is and has...

Tax software can be a help, but isn't a cure-all solution.(tax preparation software)(Brief Article)(Statistical Data Included)
February 25, 2000... Programs won't solve sloppy bookkeeping As subtle as a membership notice from the AARP on your 50th birthday, the annual tax forms come thudding into your mailbox every January, reminding you Uncle Sam wants his piece of your action. ...

Tax liability falls on LLC sole proprietor.(Statistical Data Included)
February 25, 2000... Court ruling says IRS must collect from taxpayer Status as a single-member limited liability company isn't always a bailout option for business owners who have run afoul of the Internal Revenue Service. That is the gut feeling of...

Financial planning is a must for women.(Brief Article)
February 25, 2000... More women are becoming responsible for finances About half of all marriages in the United States end in divorce. Women have longer life expectancies than men. And 90 percent of American women will be solely responsible for their...

Legal barriers falling but real change is slow.(financial companies manage the modernization act)(Brief Article)
February 25, 2000... Differences in professions remain unresolved The federal law barring banks, brokerages and insurance firms from combining is gone, but cultural barriers between those industries remain high -- and in the short term they are slowing...

Flanagan's may look for new Landing at The Banks.(new stadium area development in Cincinnati)(Brief Article)
February 25, 2000... Don't count John Binder out. Forced to vacate the Pete Rose Way premises, where he ran a successful saloon business for decades, in order to make way for Paul Brown Stadium, the owner of the former Flanagan's Landing restaurant/bar is...

Torbeck's sale paves way to $1.9M Evendale project.(Everest Real Estate brokers Rural Metro deal)(Brief Article)
February 25, 2000... Frank Torbeck, owner and president of Everest Real Estate Group Inc. of Evendale, recently led the way for a $1.9 million new headquarters for Rural Metro Co., a Butler County ambulance operator that is relocating to Evendale. Torbeck...

TPC.(Ohio golf course web site)(Brief Article)
February 25, 2000... The TPC at River's Bend won't open until spring 2001, but a new virtual reality Web site at www.riversbendcincy.com allows visitors to personally experience Ohio's first PGA Tour facility. Developer Bill Hines said the site, launched in...

DEAL OF THE WEEK.(Cincinnati housing)(Brief Article)
February 25, 2000... THIS WEEK'S DEAL: Sibcy's Schwab, Murphy's Koester sell Bowmans $1M Indian Hill home Buyer: David and Ellen Bowman, Indian Hill Seller: Thomas Murphy Homes Inc., Cincinnati Property: single-family home, 8475 Willow Run Court,...

ELECTIONS/APPOINTMENTS.(Cincinnati area)(Brief Article)
February 25, 2000... William Kohlhepp, partner at Cors and Bassett, was elected a director of Hunkar Laboratories Inc. George Juilfs, president and CEO, SENCORP, has been appointed a director and renamed chairman of the Cincinnati office of the Federal...

Largest Tri-State Home Builders.(Cincinnati/Northern Kentucky)(Illustration)(Statistical Data Included)
February 25, 2000... Largest Tri-State Home Builders (Ranked by 1999 revenue) Name Local Number of Number of address revenue closed local local...

ASK THE CEO.(how rising interest rates affect business)(Brief Article)
February 25, 2000... THIS WEEK'S QUESTION: What would rising interest rates do to your business? Michael Lahm Cincinnati Time Systems All areas of our business would be impacted. Our parking, revenue and access control opportunities are greater when...

Girls Hope helps promising kids reach potential.(Brief Article)
February 25, 2000... Two highly motivated women from the Cincinnati business community recently joined forces to help highly motivated girls attain their goals. Kim Curds, client relations director at Frost & Jacobs, and Tammy Tierney Allison, president and...

Microsoft case shows fallacy of antitrust law.(Brief Article)
February 25, 2000... Who's a bigger monopolist: the U.S. government or Microsoft? The myth is that Microsoft is a monopoly. However, ifs the government -- not the market -- that's the source of monopoly power, through licensing laws, franchises, tariffs, and...

A bold lesson from Louisville.(Louisville and Jefferson County, Kentucky)(Brief Article)
February 25, 2000... Louisville is about to do something that would be unthinkable here. The city of Louisville and Jefferson County have crafted a plan to merge their respective governments. If it happens, the mayor would be elected by the combined city and...

Letter from the editor Enjoy Junior.(Ken Griffey Jr.)(Brief Article)
February 25, 2000... To: Rob Daumeyer Editor, Cincinnati Business Courier Re: Junior From: Don Nelson Editor, Puget Sound Business Times. Hey, Rob, how ya doin'? I guess we haven't talked since the editors' meeting last fall, so I wanted to...

TEACHING AT THE MOLECULAR LEVEL.(University of Cincinnati's Gary Dean)(Brief Article)
February 25, 2000... Dean enlists schoolkids for his cell research Gary Dean admits to having second thoughts about inviting teenagers to participate in his. research endeavors at the University of Cincinnati. Tracking the process of cellular acidification,...

Transplant pioneer still thriving on innovation.(University of Cincinnati's Dr. J. Wesley Alexander)(Brief Article)
February 25, 2000... DR. J. WESLEY ALEXANDER HAS HAD AN IMPACT IN BURN CARE, TRANSPLANT SURGERY, NUTRITIONAL RESEARCH AND IMMUNOLOGY. At 65, Dr. J. Wesley Alexander still works 70 hours a week. He can't imagine doing anything else. "There's a great...