Business Courier Serving Cincinnati - Northern Kentucky articles from March 2000

Business Courier Serving Cincinnati - Northern Kentucky archives from March 2000

Banks river plan ready to roll.
March 3, 2000... Construction could begin by spring 2001 Developers will get a chance to bid on The Banks riverfront project as early as June, and part of the massive waterfront development could be under construction by next spring. That's according...

Epic battle not stalling Jo-Beth growth plans.
March 3, 2000... SELLING BOOKS THESE DAYS IS AS TOUGH AS IT gets, with chains and online sellers vying for business. Neil Van Uum relishes the fight. As CEO of Joseph-Beth Group, Neil Van Uum must not only keep up his David vs. Goliath battle against book...

Kendle move could launch office tower.(Brief Article)(Statistical Data Included)
March 3, 2000... Kendle International Inc., one of the hottest companies in the local health care industry, may be the catalyst for a new office building along Cincinnati's rebuilt Third Street. Kendle, which does contract research for pharmaceutical...

USOC payments top list of local Olympic expenses.(Brief Article)(Statistical Data Included)
March 3, 2000... It gives new meaning to the phrase "Olympic movement." Turns out Cincinnati's quest to bring the Summer Games to the Tri-State in 2012 has meant a big movement of cash to United States Olympic Committee headquarters in Colorado Springs,...

Amtrak postpones debut of high-speed rail line.(Brief Article)
March 3, 2000... Acela's success would benefit Lindner firm Amtrak has postponed the debut of its Acela Express, a new 150 mph train that experienced wheel-wear problems during testing. The delay of Acela Express, which will operate initially on the...

Surf Cincinnati brings $2M.(Brief Article)
March 3, 2000... New owners have big plans for water park Surf Cincinnati water park has been purchased by the former owners of downtown's Caddy's Entertainment Complex, who plan to rebuild the high-energy nightclub and reposition the park for group...

Online allergy aids nothing to sneeze at.(Brief Article)(Statistical Data Included)
March 3, 2000... WITH STOPALLERGY.COM, THE OWNER of a retail allergy shop in Blue Ash aims to help snifflers nationwide. When allergist Dr. Jonathan Bernstein decided to take the principals of his One Stop Allergy Shop online, selling products was an...

Alliance Primary Care doctors to take pay cut.(Brief Article)(Statistical Data Included)
March 3, 2000... Hospital-owned practice has been plagued with losses In response to continuing financial woes, the Health Alliance of Greater Cincinnati's mega-physician practice is proposing a new compensation system that could cut doctors' salaries by as...

Luken chairs Olympic effort.(Brief Article)
March 3, 2000... Cincinnati Mayor Charles Luken is now the honorary chairman of Cincinnati 2012 Inc., the nonprofit organization trying to lure the 2012 Summer Olympics to the Tri-State. "I am convinced that Cincinnati does indeed have a chance to become the...

UC nurses ratify labor contract.(Brief Article)
March 3, 2000... University Hospital's 850 union nurses ratified a new contract with the hospital Feb. 28. The 30-month contract gives veteran nurses, who make up most of the bargaining unit, a 13 percent increase over the life of the contract. The new...

Midland managers stepping down.(Brief Article)
March 3, 2000... Midland Co.'s two most senior managers are stepping down from active duty with the specialty insurer April 1. Both J. P. Hayden Jr., chairman of the executive committee of the board of directors, and Vice Chairman Michael Conaton, recently...

Schiff turns down year-end bonus.(Brief Article)(Statistical Data Included)
March 3, 2000... Cincinnati Financial Chairman and CEO Jack Schiff Jr. declined a bonus in 1999, despite a recommendation by a board committee for a "significant" payment. The Fairfield-based insurer grew profits by 22 percent last year. The bonus would...

Downtown office buildings to get fiber optic wiring.(Brief Article)
March 3, 2000... Tenants in five downtown office buildings will soon be able to tap high-speed fiber-optic cables for Internet access, video conferencing and other broadband data applications, Allied Riser Communications Corp. announced March 1. The...

American Annuity may change name.(Brief Article)
March 3, 2000... The board of directors of American Annuit Group Inc. is asking voters to approve changing the name of the Carl Linder-controlled company to Great American Financial Resources Inc. The board said the new name will better reflect the business...

Kentucky may loosen bank branching law.(Brief Article)
March 3, 2000... Bill to let banks move outside home counties Kentucky's restrictive bank branching law could loosen by summer. Legislation is working its way through Frankfort that would enable Bluegrass banks to branch outside their home counties...

Apprentices in short supply, trades find.(Brief Article)(Statistical Data Included)
March 3, 2000... Congress to consider tax credits for training William Bachman Sr. learned metalworking from his father, on the floor of Bachman Machine Co. in St. Louis. "It is a slow and tedious process to train a skilled metalworking craftsman,"...

Congress may grant more visas to foreign workers.(Brief Article)
March 3, 2000... Bill would allow more professionals into U.S. American technology companies would be able to hire more foreign workers under new legislation that would raise the cap on H-1B visas to 195,000 a year for the next three years. Sen....

Louisville to make bid for NBA franchise.(Louisville, Kentucky; National Basketball Association)(Brief Article)
March 3, 2000... City would need big bucks to build arena Louisville is preparing to make a bid to become home to an NBA franchise, and Houston Rockets owner Les Alexander is said to be interested in hearing what the city has to offer. Louisville, a...

Have fun like Road Runner, authors say.
March 3, 2000... There may be days at the office when you feel your life was lifted straight out of a cartoon. Perhaps you've spent the day whirling frantically in circles like the Tasmanian Devil, chewing up everything in sight. Or maybe your staff, like...

Local ad agencies opt for snazzier monikers.(advertising agencies strive for attention by changing names)(Brief Article)
March 3, 2000... What's in a name? Quite a bit in the world of marketing and advertising, where "branding" is everything. Ironically though, advertising agencies, which helped create some of the world's most recognizable brands, historically haven't done...

Web banking business slow starter, study says.
March 3, 2000... The growth in Internet banking continues to underwhelm when compared with other areas of the Web, according to a recent study by a California research firm. The study, by SRI Consulting, showed a steady decline in the growth rate for...

Bank stocks undervalued, Louisville analyst claims.
March 3, 2000... Making a case for severely beaten-up bank stocks is Alan Morel, vice president at Louisville brokerage firm Hilliard Lyons. In a recent report, the analyst and manager of the Senbanc Fund of undervalued bank stocks said bank valuations are now...

U.S. Financial Life thrives after purchase by MONY.
March 3, 2000... Local specialty insurer U.S. Financial Life Insurance Co. continues to thrive, since being acquired by MONY Group Inc. at year-end 1998. In the fourth quarter of 1999, U.S. Financial more than doubled new premiums, selling $9 million worth...

Lenox Bancorp Inc.
March 3, 2000... Lenox Bancorp Inc., parent of the $72 million Lenox Savings Bank, soon will open its third office on Montgomery Road in Norwood. The branch, a block south of the Norwood Lateral and across the street from the Quality Hotel, will in essence...

Firstar Corp.
March 3, 2000... The steady decline in Ohio Casualty's stock price late last year led several major investors to increase their stakes in the Fairfield-based property and casualty insurer. Firstar Corp., Barclays Bank plc and Dimensional Fund Advisors Inc....

National Association of Mutual Insurance Companies.
March 3, 2000... After a year and a half, the trade group representing mutual insurance companies recently received the nod to start its own bank. On Feb. 15, The Office of Thrift Supervision approved the application filed by the National Association of Mutual...

Local firms named good citizens.
March 3, 2000... Business Ethics magazine has named three Cincinnati-based companies to its list of the "100 Best Corporate Citizens." Procter & Gamble made the list at No. 4, followed by the Kroger Co. at No. 15, and Fifth Third Bancorp ranked at No. 49....

HGTV claims 60 million viewers.
March 3, 2000... Home & Garden Television, the successful specialty TV channel owned by Cincinnati's E.W. Scripps Co., has hit the 60 million subscriber mark five years after its launch. During 1999, the channel posted subscriber growth of 24 percent while...

Ohio Casualty cuts 54 jobs at HQ.
March 3, 2000... Property and casualty insurer Ohio Casualty Corp. announced it has cut 54 jobs in a variety of departments at its Fairfield headquarters. The downsizing will likely not be the last, the company said. Former CEO Lauren Patch resigned recently...

Klekamps donate $1M for facility.
March 3, 2000... Prominent local attorney Donald Klekamp and his wife, Marianne Klekamp, donated $1 million to the Legal Aid Society of Greater Cincinnati's capital and endowment fund-raising initiative, which seeks $11 million. Klekamp, a senior partner at...

Eagle-Picher sells subsidiary.(Group Lotus Limited)
March 3, 2000... Cincinnati-based industrial manufacturer Eagle-Picher Industries Inc. announced the sell-off of its Michigan Automotive Research Corp. subsidiary to Group Lotus Limited. A purchase price was not disclosed.

Crown Vantage studying sale.
March 3, 2000... Crown Vantage announced that it retained the investment banking firm Pete J. Solomon Co. last fall to help determine its future, which could include the sale of the business. The company is in discussions with a third party about a...

Federated to build Macy's in Philly.(Federated Department Stores Inc.)
March 3, 2000... Federated Department Stores Inc., the nation's largest department store operator, will build a Macy's store in a suburban Philadelphia shopping mall that is changing ownership. The planned 230,000-square-foot store is scheduled to open in the...

Prestige purchases Cavalier.(Prestige Audio Visual, Cavalier Audio Visual)(Brief Article)
March 3, 2000... Two of Greater Cincinnati's better-known audio and visual equipment rental companies will merge as a result of the recent purchase of Cavalier Audio Visual Inc. by Covington-based Prestige Audio Visual. Financial terms were not released....

Money Bags.(entrepreneur searches for financial support)(Brief Article)
March 3, 2000... A spot on a TV show gives entrepreneur Thomas a chance at venture capital. Kim Thomas was cool in the hot seat. The Cincinnati entrepreneur is trying to raise $250,000 for her new company, Work Wraps. She plans to use the capital to...

Employment testing firm plans two new clinics.(Brief Article)
March 3, 2000... Company to take look at national expansion Jeanie Wrenn believes in customer service. "We take large corporations that do millions of dollars a year, and we will take the mom-and-pop businesses," Wrenn said. "We make our service...

There's more to life -- and business -- than money.(Brief Article)
March 3, 2000... Most people work for prestige, not meaning It isn't about the money. During the last two years, I've had a whole handful of clients who have shown up looking for some coaching. These clients are what you and I would consider incredibly...

Creativity gives smaller competitors a big edge.(Honest Tea introduces new teas)(Brief Article)
March 3, 2000... A unique product can overcome resistance While it may seem impossible for a small company to compete against the beverage giants like Snapple, Nantucket Nectars or Coca-Cola, entrepreneurs are finding ways to get their new drinks on store...

PEOPLE ON THE MOVE.(Brief Article)
March 3, 2000... ADVERTISING/MARKETING Bridge Integrated Communications has hired the following: Randy Schimpf, Web designer; Julie Carr, production artist; Greg Spreen, production assistant; and Chris McGeorge, systems engineer. BANKING/FINANCIAL...

COURIER RATE BAROMETER.(Brief Article)(Statistical Data Included)
March 3, 2000... COURIER RATE BAROMETER Latest Year ago Two Three week week wks.ago wks.ago AVERAGE INTEREST RATES 30-yr. mortgage ...

P/E multiple irrelevant when determining company's value.(Brief Article)
March 3, 2000... Common yardstick can't measure cash flow or use of capital In today's stock market, accounting conventions often provide investors with distorted views on how companies are really performing. As a result, many rule-of-thumb figures like...

STOCK STATS.(Brief Article)(Statistical Data Included)
March 3, 2000... STOCK STATS Exchange/ Year- Week- 52- 52- Ticker Close to-date ago net P/E week week Name of security symbol 2/28/00...

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

Rise in oil prices no help to industry stocks so far.(Brief Article)
March 3, 2000... Oil prices have soared in the past six months and the effect is being felt in consumer pocketbooks. It now takes $60 to fill the outsized gas tanks of a suburban Ford Explorer. The rise is not due to any natural shortage of oil but to a...

Fed.(Brief Article)
March 3, 2000... In his recent Humphrey-Hawkins testimony, Fed Chairman Alan Greenspan outlined the need to significantly increase short-term rates in order to slow down the economy. Greenspan is concerned that productivity gains will end up putting...

P/E multiples.(Brief Article)
March 3, 2000... A market at historically high P/E multiples and a rising rate environment should raise caution flags for investors. We believe, however, that any trouble the market sees this year will be short-term in nature. In 1993, the U.S. stock...

INSIDER TRADING, RECAP.(Brief Article)
March 3, 2000... INSIDER TRADING, RECAP (Number of insider transactions in past six months) Company Buy Option Sell Am. Annuity 3 4 1 Am. Financial 2 4 0 AK Steel 2 3 4...

MONEY MARKETS.(Brief Article)(Statistical Data Included)
March 3, 2000... MONEY MARKETS Fund 7-day average yield Countrywide Institutional Government 5.50 Countrywide Ohio Tax-Free Money 3.18 Countrywide Money Market Fund...

EARNINGS.(Brief Article)
March 3, 2000... EARNINGS (Dollars in millions except per share data; revenues for financial institutions are net interest income plus other income) ...

DIVIDENDS.(Brief Article)
March 3, 2000... DIVIDENDS Increase Company Amount Period (from) Payable AK Steel Holding Corp. 90.625 cents...

INSIDER TRADING.(Brief Article)
March 3, 2000... INSIDER TRADING (Shares indicate common shares except as noted) Company/Officer Transaction Amount Price Fidelity Financial of Ohio...

Fifth Third backs off acquisitions, focuses on sales.(Brief Article)
March 3, 2000... Bank's shares on downward trend In the spring of 1999, Wall Street analysts praised Fifth Third Bancorp's performance, hailing it as one of the few banks in the country then able to capitalize effectively on the acquisitions it was making....

THE NUMBERS.(Fifth Third Bancorp. of Cincinnati)(Brief Article)(Statistical Data Included)
March 3, 2000... THE NUMBERS VITAL STATISTICS (Dollars in millions except per share data and ratio figures) Net Earnings Book value...

Shaker Golf puts its money where the courses are.(Brief Article)
March 3, 2000... Shaker Golf Corp. has been making a name for itself in recent years with several acquisitions of high-profile local courses such as Traditions Golf Club in Hebron, Deer Run Country Club on the West Side and The Oasis in Clermont County. ...

Northgate Mall, Central Trust Tower back on block.(Brief Article)
March 3, 2000... The on-again, off-again sale of Northgate Mall in Colerain Township is back on and scheduled to close in April, according to local real estate sources. The buyer could not yet be identified. The broker doing both deals, Jones Lang LaSalle...

LEAN, MEAN SALES MACHINE.(Brief Article)
March 3, 2000... Re/Max Commercial team from Mt. Adams sells big while staying small Three commercial real estate brokers from a bustling Mount Adams agency have boosted sales by 50 percent over the last three years by combining resources, cultivat ing...

How does one define a world-class city?
March 3, 2000... Seattle basks in glory as Portland wonders why If 20 million coffees served was the foremost qualification of a world-class city, Portland, Ore., would have won hands down. Portland represents a major Northwest region in the state of...

March has much appeal for property valuations.(Brief Article)
March 3, 2000... Complainants are building their own records No doubt about it, this is a taxing time of year. As winter winds down and cabin fever lifts, many of us (or our accountants) begin the process of preparing tax returns for mid-April filing....

Texas developers see farmland as cash cow.(Brief Article)(Statistical Data Included)
March 3, 2000... Agricultural designations can save tax money Longhorns roam near Fidelity Investments' corporate campus in North Texas. Not only do the steers create a prairie feel, but they also save billionaire Ross Perot Jr., the owner of the Circle T...

Downtown Dayton has more appeal.(growing interest in office space in downtown Dayton, Ohio)(Brief Article)
March 3, 2000... When Dayton photographer Jack Holtel had a chance to move out of his office space in a south suburb, he knew exactly where he was headed. Holtel, who developed a love for Dayton's downtown while a photographer for the former Rikes...

Cost segregations can save money on April 15.(real estate tax savings)(Brief Article)
March 3, 2000... Depreciation expenses can be moved around Normally, the three most important things in real estate are location, location, and location. When it comes to tax time, however, nothing in real estate is more important than tax savings. ...

New FHA guidelines worrying appraisers.(Federal Housing Authority)(Brief Article)
March 3, 2000... Rules may blur some traditional functions The Federal Housing Authority has imposed new guidelines for appraisers who conduct FHA loan appraisals. The change has appraisers complaining the new mandates blur the lines between their...

DEAL OF THE WEEK.(real estate deals in Ohio)(Brief Article)
March 3, 2000... THIS WEEK'S DEAL: Staubach's Momper; Schmerge team up to se AutoNation's Butler site for $7.9M Buyer: VCC East Limited Partnership, Union Township, Butler County Seller: AutoNation USA Inc., Fort Lauderdale, Fla. Property:...

Largest Tri-State Accounting Firms.(Brief Article)
March 3, 2000... Largest Tri-State Accounting Firms Mike Hennessy (Ranked by number of local professionals) Name Number of Number of address ...

2000 CANDIDATES WHERE THEY STAND.(presidential candidates)(Brief Article)
March 3, 2000... THE OHIO PRIMARY WILL TAKE place March 7. Here's a summary of where the five front-runners stand on business-related issues: TAXES Crack down on corporate tax breaks Bill Bradley would: Close special interest loopholes ...

Who will pay cost of benefits mandates?(Brief Article)
March 3, 2000... At times, when acting "for the people," our government produces negative, unintended consequences. One such example involves legislation that mandates insurance coverage of specific health-care services.. In this election year, when more...

CPS needs one more chance.(Brief Article)
March 3, 2000... Voters in the city of Cincinnati once again face a difficult choice at the ballot box, courtesy of the Cincinnati Public Schools. The district is asking for a renewal of its 10.9 mill. levy for operating expenses (Issue 15), on the March 7...

Guns rule in U.S. -- we 're the victims.(Brief Article)
March 3, 2000... Here's a novel thought for all you gun people: Find another hobby. Collect stamps. Or Beanie Babies. Or salamis. Something, anything. Just so it's not guns. Still need a touch of violence in your free time? Fine. Collect knives or sharp...

Ladies take swing at man's world.(Brief Article)
March 3, 2000... Women golfers use tee times for business and fun Heads usually turn when this group takes the first tee. Typically starting in two foursomes, the coterie of golfers is a close-knit group of friends, cohorts and fellow professionals. ...

Clothing line designed for female golfers.(Brief Article)
March 3, 2000... A few links are missing for women on golf courses across the country. But one Central Ohio woman has taken up the challenge of keeping women golfers on par with their male counterparts -- on the course and off. Admittedly more of an...

Planning a golf outing: a preliminary guide.(Brief Article)
March 3, 2000... 1. Appoint an event chairperson, usually a golfer (entertainer, sports celebrity, business executive), who has a broad sphere of influence in the communities you wish to draw upon. 2. Appoint lieutenants in key geographic and business areas...

Golf's 10 Golden Rules.(Brief Article)
March 3, 2000... A primer to simplify the complex rules book for golfers: 1. Play the ball as it lies. 2. Do not move, bend or break anything growing or fixed, except in fairly taking your stance or swing. Do not press anything down. 3. You may...

Golf gadget inventor avoids market sandtraps.(Brief Article)
March 3, 2000... Pro-Pouch in midst of marketing push It's one thing to have an idea for a new product. It's another thing to design it, make sure it works, manufacture it and then find a way to successfully market it. That's the road James Voth is...

Most-Difficult Tri-State Private Golf Courses.(Brief Article)
March 3, 2000... Most-Difficult Tri-State Private Golf Courses (Ranked by USGA course rating) [*] Name USGA USGA Par for: address ...

Most-Difficult Tri-State Public Golf Courses.
March 3, 2000... Most-Difficult Tri-State Public Golf Courses (Ranked by USGA course rating) [*] Name USGA USGA Green fees address course...

Toughest Miami Valley Golf Courses.
March 3, 2000... Toughest Miami Valley Golf Courses (Ranked by blue tee USGA course rating) Name USGA rating: USGA slope: Green fees: address Blue/White/...

Golf Glossary.
March 3, 2000... ACE. A hole-in-one. AWAY. When you are away it is your turn to play, usually because your ball is farthest from the hole. BIRDIE. A score of one stroke under par on a single hole. BOGEY. A score of one stroke over par on a single...

A Guide to Golf Etiquette.
March 3, 2000... Do not talk, stand close or move around when another player is hitting. Be ready to play when it is your turn. Do not waste time pacing off yardages. Make a practice swing in an area away from other players. Wave the group...

HSR Business to Business Inc.
March 3, 2000... Advertising Club of Cincinnati presented ADDY Awards to The Creative Department for "Best of Show"; HSR Business to Business Inc. and WonderGroup received the Judge's Choice Award; and Northlich also took home ADDYs during this year's ADDY...

Taft, Stettinius & Hollister LLP.
March 3, 2000... Taft, Stettinius & Hollister LLP's Web site has been ranked No. 1 in the state of Ohio and No. 25 in the nation by Red Street Consulting, a Boston-based company which ranks law firm Web sites each year.

Dr. Dean Kereiakes.
March 3, 2000... American Heart Association will present Dr. Dean Kereiakes its Samuel D. Kaplan, M.D. Visionary Award for Excellence in cardiovascular medicine at its Seventh Annual Heart Ball, March 4.

Dave Howicz.
March 3, 2000... Dave Howicz of Henkle Schueler & Associates has received the Warren County Board of Realtors 1999 Top Commercial Producer-Award.

David Sheaffer.
March 3, 2000... David Sheaffer, Northwestern Group Marketing Services, Blue Ash, has earned the Registered Employee Benefits Consultant professional designation.

Heather Bucher.
March 3, 2000... Heather Bucher, Jackson, Rolfes, Spurgeon & Co., has earned the Certified Valuation Analysts designation.