Business Courier Serving Cincinnati - Northern Kentucky articles from October 1997

Business Courier Serving Cincinnati - Northern Kentucky archives from October 1997

TriHealth's Wilburn bowing out; retirement leads to succession question.(Thomas Wilburn)
October 3, 1997... Retirement leads to succession question TriHealth chief Thomas Wilburn has announced he will retire this year, marking the end a visionary career and the start of an intense competition to lead what could become the areas first...

Ky. chamber may import workers; Northern Kentucky's tight labor market is forcing it to find some creative solutions.
October 3, 1997... Northern Kentucky's tight labor market is forcing it to find some creative solutions. Workers may be bused into Northern Kentucky from the rural eastern part of the state to help alleviate the tightest labor market in a generation. ...

United Shields heating up.(acquisition of HeaterMeals Co.)
October 3, 1997... In the wake of going public, United Shields has purchased several companies, including Springdale-based HeaterMeals. United Shields Corp., one of Cincinnati's newest public companies, has agreed to buy another local company that tried and...

Cinergy unit to seek out foreign buys.(acquisition of Midlands Power International)
October 3, 1997... Cinergy Corp. has made an acquisition that moves it a big step closer to buying an overseas utility. The Cincinnati-based utility holding company last month bought England-based Midlands Power International, giving it complete control of a...

Tipton taps into booming market with $5M project; Clermont development to include office, hotel.(Tipton Associates Inc.)
October 3, 1997... Clermont development to include office, hotel Spurred by a tightening suburban office market, Tipton Associates Inc. will develop a $5 million office building and a 100-plus room hotel at Wards Corner in booming Miami Township. ...

Ach ready to launch lottery cable channel; venture plans to feature bingo, state lotteries.(Roger Ach)
October 3, 1997... More than three years after he began working to establish a national lottery cable channel, Roger Ach has set a Feb. 1 launch date for the venture. The Cincinnati businessman says he has obtained written or verbal agreements with 20 states...

Mediqual study rates 20 hospitals locally.
October 3, 1997... But it'll cost $10,000 to get the study's details A new study shows that Greater Cincinnati hospitals are outperforming the national average in at least three key areas. Called the Mediqual report, the study provides a detailed...

Boom times forecast for outlying counties; study: Boone County will see most growth.
October 3, 1997... If you're looking for the hottest spot for future growth in the Tri-State, head southwest from Cincinnati and start looking for the jet airliners. Boone County, a region of Greater Cincinnati that's still predominantly rural, is ranked...

Ex-Cincinnatian sells his freight company; Michael Burton cashing in for $11.9 million.(acquisition of Michael E. Burton Enterprises by Eagle U.S.A. Inc.)
October 3, 1997... For Michael Burton, the number 42 has steered his life. He wore it as a basketball player at Northwest High School in Cincinnati and later as an All-American cager at Anderson (Ind.) University. He later raced a classic car that carried it...

Brazos goes on buying binge after going public; integration now key to its success.(Portfolio)(Brazos Sportswear Inc.)
October 3, 1997... Following a changing of the guard, Brazos Sportswear Inc. is a very different company from the one that entered 1997. It began quietly in August 1996, when the manufacturer of decorated sportswear acquired New York-based Plymouth Mills...

Cincinnati Equitable changed with times; Ohio's oldest insurance firm founded in 1826.(Cincinnati Equitable Insurance Co.)(Company Profile)
October 3, 1997... What did prominent Cincinnatians like David Sinton, John Hauck and Rabbi Isaac Wise have in common with businesses and institutions such as the H. & S. Pogue Co., Western German Bank, St. Francis de Sales Church and the Crawford Colored Old...

Jacor turns table, prowls for sale; failing big buyouts, Zell may sell giant.(Jacor Communications Inc., Sam Zell)
October 10, 1997... After spending the past 20 months on a buying blitz, Jacor Communications Inc. may now be on the selling block. Speculation is flooding the radio industry that Sam Zell, the Chicago billionaire who controls Jacor, may be considering a...

Market crash of 1987 changed history.(stock market's Black Monday)
October 10, 1997... Investment pros vividly recall details of the worst day in U.S. stock market history, 10 years ago this month. Lou Ginocchio vividly remembers every detail about the day the stock market crashed 10 years ago. "I can picture myself...

TriHealth knifing 600 positions by year end.
October 10, 1997... Competitive pressures force hospital cutbacks TriHealth will eliminate 600 positions by January in a bold effort to keep pace in the increasingly competitive local hospital market. TriHealth executives estimate half of the 600 job cuts...

Local United Healthcare chief executive to leave.(United Healthcare CEO Jack Wickens)
October 10, 1997... Wickens joins firm's southern territory The hotly contested Tri-State managed care arena is losing one of its best-known players. Jack Wickens, chief executive officer for United Healthcare in Cincinnati, is leaving the post to become...

Drake occupancy booming.(Drake Center hospital)
October 10, 1997... Urgent-care facility may be added soon In a front-hall display case that illustrates milestones of the Drake Center's 150-year history, the infamous face that almost destroyed the hospital still peers out from a weathered news clipping. ...

Deep job cuts doubtful in Big Six union.(impact on employment of merger of Price Waterhouse and Coopers and Lybrand)
October 10, 1997... Cincinnati's robust economy could save the merging Price Waterhouse and Coopers & Lybrand from shedding many local positions, but veterans of past accounting firm mergers say local job cuts are inevitable. The two "Big Six" accounting...

Cash, lack of liquidity keys to Skyline's deal.(Skyline Chili Inc.)
October 10, 1997... Factors make offer appetizing to its executives A cash offer and lack of liquidity in Skyline Chili Inc.'s stock caused the company's founders and officers to sell it for the same value as the stock would have brought on the open market....

Keebler Co. bakes up local expansion plan.
October 10, 1997... Cookie maker moving distribution facility The Keebler Co. of Chicago plans to relocate its Tri-State distribution center from Springdale to Sharonville, more than doubling the size of the facility and increasing employment in the process....

Colleges reap profits from licensing logos; most revenues go into schools' scholarships.
October 10, 1997... Licensing university trademarks and logos, a practice that began in earnest in the 1970s, has created a new revenue stream for area universities and athletic departments. Five Ohio schools collect as much as $2.5 million or as little as...

Real estate trusts snap up local properties.(First Industrial Realty Trust Inc. and Duke Realty Investments Inc. buy commercial properties in the Tri-State area)
October 10, 1997... First Industrial, Duke investing $12 million Two out-of-town real estate investment trusts recently snatched up more than $12 million in Tri-State commercial properties. First Industrial Realty Trust Inc. of Chicago, a $1.9 billion...

Designs on new ownership: how Libby Persyk Kathman packaged a smart succession plan.
October 10, 1997... For the partners at Libby Persyk Kathman, the decision came down to selling out or selling in. That was three years ago, when the downtown package-design firm was trying to map out a plan for its future. "We had five principals at the...

Union Central thrives with conservative approach.(includes company profile)(Union Central Life Insurance Co.)
October 10, 1997... Booming mutual cautious about growth It's a quiet company, with its 250-acre Forest Park headquarters nearly hidden from the freeway. Perhaps that's why Tri-State residents don't recognize the links between Cincinnati's history and...

Hospital's admissions under fire.(University Hospital)
October 17, 1997... Critics say University rams patients away Nursing shortages at University Hospital have prompted the institution to more frequently turn away patients in recent months, creating what some say are potential public health and safety problems....

Warms' firm hot on trail of hotel buys.(Alex and Stuart Warm's Belvedere Corp.)
October 17, 1997... Warm are seeking to add to their stable of hotels. The Warm brothers are hot on the hotel industry. Alex and Stuart Warm, founders of the city's largest privately held development company, have chosen hotel acquisitions as Belvedere...

Carroll accelerates toward NASCAR racetrack.(horse racetrack owner Jerry Carroll to build car racetrack in Cincinnati, Ohio, for National Assn. for Stock Car Auto Racing competitions)
October 17, 1997... Turfway Park owner has option on Gallatin site A plan to bring a major NASCAR auto racing track to the Tri-State has moved another turn closer to the green flag. Turfway Park horse race track owner Jerry Carroll has targeted a...

Plug pulled on PC Upgrades.(PC Upgrades International Inc. closes)
October 17, 1997... Computer-repair firm closes its local stores Cincinnati entrepreneur Dean Butler may be flying high in Europe, but a local venture he started that had ambitious growth plans has crash-landed. PC Upgrades International Inc., the...

Niehoff back, forming new stock system.(K. Richard B. Niehoff forms Internet stock-trading firm SBX Inc. in Skillman, New Jersey)
October 17, 1997... Nick Niehoff, who pioneered the Cincinnati Stock Exchange's electronic-trading system, is creating an Internet system. The founder of a system that made the Cincinnati Stock Exchange one of the first electronic global stock exchanges is...

Bio/Start beginning to hatch viable firms.(business incubator in Cincinnati, Ohio)
October 17, 1997... Incubator transforms research into ventures Yes, there was cake and champagne at Bio/Start's first birthday celebration, but the highlight came when each of its start-up companies took turns giving five-minute presentations about their...

Taking the fear out of change.(Phillips Supply Co.)
October 17, 1997... In private companies, transition time is often a period of unrest Succession planning is like writing a will, says Pam Rossmann - you'd rather not think about it. Rossmann's father, Charles Phillips, built Phillips Supply Co. from the...

Gold Star Chili working to add glitter to stores.(restaurant franchisor)
October 17, 1997... Franchisor working to standardize operations Gold Star Chili Inc. Chief Executive Officer John Sullivan has a standard answer when franchisees ask him for money to remodel their stores. "It's our job to tell you how to fish," says the...

Newly public Kendle may make second offering.(Kendle International Inc.'s second stock offering)
October 17, 1997... Funds would pay for acquisitions Kendle International Inc. is hungry for more acquisitions and believes a second stock offering could be the best way to feed its appetite for growth. "I think we would look at a secondary offering...

Logistics' logical growth.(Verst Group Logistics Inc.)
October 17, 1997... Area's transportation system attracts distribution centers At a Boone County industrial park, an Atlanta-based company rents space from a Denver-based company, where it ships athletic gear all over the world for a Portland-based...

Betagole ready to step into father's shoes.(Marty Betagole to replace Mike Albert Leasing CEO Robert Betagole)
October 17, 1997... Vice president will eventually head Mike Albert Leasing Inc. In the automotive industry - where women are still a rarity - Marty Betagole is an educated, experienced executive who's poised to eventually take the reins of her family's...

Humana names new leader.(Humana Inc. named Jane Rollinson new president of ChoiceCare Corp.)
October 24, 1997... Rollinson appointed to replace Gregorie In a combination reminiscent of another Louisville powerhouse, Muhammad Ali, Humana Inc. closed its $250 million acquisition of ChoiceCare Corp. and then knocked Dan Gregorie out of the executive...

Chiquita's fruit-drink supplier goes belly-up.(Tropical Island Beverage Co. filed for bankruptcy)
October 24, 1997... Locally based Tropical Island supplied juices to Chiquita until it filed for bankruptcy. A Blue Ash beverage company marketing fruit drinks for Chiquita Brands International Inc. has filed for bankruptcy after its products failed to gain a...

Bus companies may team up to run the rails.(Tri-State Distributors Inc.'s two bus systems)
October 24, 1997... SORTA, tank discuss future of local commuter rail system The Tri-State's two largest bus systems may jointly pursue a new line of business: Light rail. Early indications are that TANK and SORTA may emulate the cities of Dallas and Fort...

Star One President denies rumors company is for sale.(Star One Realtors Inc. Pres George Meinhardt)
October 24, 1997... Speculation came after sale of West Shell to HFS In the wake of the recent sale of Cincinnati's largest residential Realtor, all kinds of potential buyers are banging on the door at Star One Realtors Inc. of Montgomery. The only...

Hamilton Caster vying for second state award.(Hamilton Caster and Manufacturing Co.)
October 24, 1997... For Hamilton Caster & Manufacturing Co., change has become a way of doing business. The Hamilton-based manufacturer of industrial wheels, casters and non-powered floor trucks, such as dollies, is one of four Ohio companies that may receive...

Testing a new industry.(computer service firm ExperTest Inc.)(Company Profile)
October 24, 1997... West Chester software firm creates bug-catching program As an electronics-testing engineer, Bill Asburry knew that making sure computer software works properly is an expensive and labor-intensive proposition. That's why when Asburry...

Anthem still hunts for mergers, despite setback.(Anthem Blue Cross and Blue Shield)
October 24, 1997... Insurer recently won two major contracts Anthem Blue Cross & Blue Shield's sprawling new headquarters sits on 35 acres in Deerfield Township, in Cincinnati's rapidly growing northeast corridor. It is strong visual symbol of the vast...

New regional group's goal: meld resources.(Huntington National Bank Pres. Merwin Grayson)
October 24, 1997... Alliance's members span Tri-State area On Oct. 31, the leaders of some of Cincinnati's largest companies will meet at the Queen City Club to discuss the formation of the Metropolitan Growth Alliance. Consisting of roughly 30 chief...

Downtown could lose 700 jobs; AT&T may relocate to another local site.
October 31, 1997... AT&T Corp. may leave downtown - and take more than 700 jobs with it. The telecommunications giant has retained two commercial real estate brokers a local industry veteran and another from Chicago - to canvass the Tri-State for 175,000...

Taft law firm looks at Louisville partnership.(Taft, Stettinius & Hollister)
October 31, 1997... Merger with Ky. giant would net regional force Taft, Stettinius & Hollister, Cincinnati's third-largest law firm, is looking to Louisville to spread its wings - and stay abreast of the competition. Taft is talking to Brown Todd &...

Nine West site finds buyer; California groups eye former U.S. Shoe HQ.(Principal Capital Group LLC; Pantheon LLC)
October 31, 1997... A joint venture between two California real estate investors is on the verge of buying the former U.S. Shoe Corp. headquarters in Madisonville. Principal Capital Group LLC of San Francisco and Pantheon LLC of suburban Los Angeles are...

Cincinnati Olympic effort seeking more gold.
October 31, 1997... When the U.S. Olympic Committee decided to delay its attempt to get the games until 2012, the local effort suffered. Cincinnati's Olympic movement will turn to small businesses in an attempt to break a fundraising slump threatening the...

City increases pressure level on University.(Cincinnati Health Department; University Hospital)
October 31, 1997... Health department calls for task force to study problems The Cincinnati Health Department is calling for a broad-based task force to examine the nursing shortage and other related problems at University Hospital. University's problems,...

Business and labor battling over Issue 2.(workers' compensation)
October 31, 1997... Workers' comp fight draws major spending It's a good thing moving an entire business isn't easy, says Keith Singleton. Otherwise the cost of workers' compensation in Ohio would have driven many firms away by now. "I think a lot of...

Business booms for steel-service centers.
October 31, 1997... Fifteen-year-old Aerospace Alloys Inc., a Butler County steel-service center, began operations during the down times of a recession. But now Aerospace Alloys, like most other steel-service centers, is experiencing a boom in revenue and...

Ex-president battles Lang Kruke in court.(former Lang Kruke Financial Group Pres. Irwin Scheineson)
October 31, 1997... Claims benefits firm needs outsider tO run it The fired president of Lang Kruke Financial Group Inc. is asking to have an outsider run the company because he thinks it will go bankrupt under present management. In a motion filed in...

Baseball group says Reds won't negotiate.(Cincinnati Reds)
October 31, 1997... Claim they're shut out of Dayton baseball deal All they want is a fair chance. That's what Rock Newman and officials from the Northfield, Ill.-based Sports Spectrum Inc. say they want from the Cincinnati Reds with regard to bringing...

Rock-solid investing: newly formed Granite Group taps quiet West Side money.
October 31, 1997... Delhi Township's Rapid Run Pike will never be confused for Wall Street. But there is gold in the hills surrounding the winding ribbon of road bisecting this west-side bedroom community. And Granite Group LLC is looking to capitalize on it....

Today's Joseph a quasi-commodities exchange: scrap-metal giant hits $2 billion in revenue.(David J. Joseph Co.)
October 31, 1997... When the company now known as the David J. Joseph Co. opened shop on Front Street in Cincinnati in the late 19th century, founder Joseph Joseph's business interests involved little more than hide and wool. Two years after that, America's...