Business Courier Serving Cincinnati - Northern Kentucky articles from October 1999

Business Courier Serving Cincinnati - Northern Kentucky archives from October 1999

If you're not already banking online, you will be. Here's what you need to know to keep pace.
October 29, 1999... Banking has seen the future, and it needs a modem. "Two years from now, we'll wonder how we ever did without it," said John Finnan, president of $140 million Peoples Bank of Northern Kentucky. "There is no question that this is something...

Chavez selling vacant land for $89 million.
October 29, 1999... Who needs Baseball at Broadway Commons when you've got the Columbus Blue Jackets? That's what Cincinnati land owner Robert Chavez could be asking himself these days, after unloading $89 million worth of property over the last 20 months....

Study: Most Cincinnati adults still living off-line existence.
October 29, 1999... Tri-State stays far behind other cities in 'Net usage Cincinnati lags most cities in Internet usage among adults, new report says. With just under 36 percent of the area's adult population online either at work or home, Cincinnati...

Zipperer-Davis quits as head Telesis venture.
October 29, 1999... Departure second in '99 for doctor For the second time in nine months, Telesis Physician Partners of Cincinnati LLC has lost its CEO through sudden resignation, leaving the one-year-old joint venture looking for a new leader. Pamela...

Accounting partner leaving.
October 29, 1999... VonderBrink vacating Grant Thornton post Edward VonderBrink, managing partner at Grant Thornton's local offices, will leave the firm Dec. 31, becoming the fifth Cincinnati managing partner of a national accounting firm to leave in the...

Fund joins local venture capital scene.
October 29, 1999... FORMER BLUE CHIP EXECUTIVE Maria Balodimas-Staton has started a venture capital fund to invest in early-stage tech and telecom firms. Cincinnati's venture capital scene continues to mature. In fact, it's given birth to another...

Tech firm launches urban, ethnic Web portal.(Brief Article)
October 29, 1999... Minority firm's Internet site aimed at low-income users Myca Group Inc. is beefing up its line of Internet products with the launch of a portal geared toward an urban, ethnic audience. "We think it is a very unique site because of the...

Arington no longer largest shareholder.(Brief Article)
October 29, 1999... Thomas Arington, chairman, president and CEO of Duramed Pharmaceuticals Inc., will no longer be the company's largest shareholder after Solvay Pharmaceuticals Inc. completes its planned purchase of an additional 1.3 million shares of Duramed...

City ranked first for high-tech jobs.(Brief Article)
October 29, 1999... Cincinnati was ranked as the No. 1 city in the central United States for high-tech jobs. The ranking, by Woburn, Mass-based forecasting firm CorpTech, lists Cincinnati as having 17,605 jobs in emerging firms with under 1,000 employees....

Student Loan to sell $525 million in debt.
October 29, 1999... Student Loan Funding Resources Inc. is selling $525 million in debt to finance its latest round of student loan acquisitions. On Oct 21, the downtown-based finance company filed with the Securities and Exchange Commission to sell the notes,...

Bank One to relocate its downtown branch to Fourth St.
October 29, 1999... Bank One Corp. is relocating its downtown branch from the 525 Vine building to the former Franklin Savings & Loan Co. branch on East Fourth Street. The nation's fifth-largest bank applied with the Office of the Comptroller of the Currency...

Fifth Third donates $2.2M in grants from six trusts.(Brief Article)
October 29, 1999... Fifth Third Bank is donating $2.2 million in grants from six trusts it runs to 12 local groups ranging from the arts to senior services to the Tri-State's bid to host the 2012 Olympics. These groups received funds: Art links, Association for...

Green buys mixed-use facility in West Chester for $2.8M.(Brief Article)
October 29, 1999... Green Realty Corp. has completed the $2.8 million acquisition of a 125,000-square-foot facility on Muhlhauser Road in West Chester. President Rod MacEachen Jr. of MacEachen Realty Inc. represented Green in its Oct. 25 purchase of the...

NextLink said to be eyeing downtown site.(Brief Article)
October 29, 1999... Seattle telecom firm plans to expand locally A Seattle-based provider of broadband communications services might be the next high-tech player in a hotly competitive industry to settle in the Tri-State. NextLink has hired a...

Alliances way to go for accounting firms.(Brief Article)
October 29, 1999... Mid-sized companies find strength in numbers With national firms and consolidators marauding the local accounting landscape, mid-sized firms are increasingly finding refuge among their peers in regional and national alliances. Two...

VonLehman establishes investment advisory unit.(Brief Article)
October 29, 1999... Accounting firm adding finance to tax planning Fort Mitchell accounting firm VonLehman & Co. has set up an affiliated investment advisory firm in response to feedback from clients. Wealth Advisors of Cincinnati LLC was founded this...

Canadian investment a first for Blue Chip.(Brief Article)
October 29, 1999... Venture firm funding fiber-optics company Blue Chip Venture Co. has headed north of the border for its most recent investment. The downtown venture capital firm is the lead investor in a $10.9 million financing round for ImPath...

Ohio HMOs reverse losses, boost membership rosters.(Brief Article)
October 29, 1999... Humana of Ohio among top performers in state HMOs in Ohio reversed two years of collective losses in 1998, while their combined enrollment continued to climb, according to an Ohio Hospital Association report released earlier this month....

Concrete Technology opens Illinois plant.(Brief Article)(Statistical Data Included)
October 29, 1999... Springboro company rides industry's wave Riding the wave of a five-year expansion in its niche of the concrete industry, Springboro-based Concrete Technology Inc. has opened a new plant in Paxton, Ill., to serve the Chicago and St. Louis...

Pet Stop plans expansion after dogfight over patent.
October 29, 1999... Network of dealerships, Web site to drive growth After emerging from a legal dogfight, a Mariemont manufacturer of electronic fencing systems to contain pets, is embarking on a national expansion campaign that includes a new Web site,...

Post office to deliver private mailbox rules.(U.S. Postal Service)(Brief Article)
October 29, 1999... Use of 'apartment' or 'suite' to be prohibited For the past 12 years, self-employed executive recruiter Sandi Taylor has received her business mail at a Mail Boxes Etc. location in suburban Dallas. You wouldn't know Taylor works out...

Family-owned funeral firm builds facility in Springboro.(Anderson Funeral Home)(Brief Article)(Statistical Data Included)
October 29, 1999... National competition doesn't deter Anderson Charles Anderson isn't ready to let his independent funeral business die. His family-owned firm is constructing Springboro's first funeral home while supplementing his family's two other...

Bad loans not marring local banks' portfolios.(Statistical Data Included)
October 29, 1999... National bank commentators have warned about it. Analysts are feverishly focusing on it and even Alan Greenspan talked about it. In short, the issue of credit quality is hot. Across the country, many banks' recent earnings statements...

Group cuts urgent care hours, adds 'hospitalist'.
October 29, 1999... Group Health Associates, one of the area's largest physician-owned multispecialty medical practices, has long been admired locally for its ability to operate successfully in the managed care arena. It has been providing care under shared-risk...

Surgery to propel LCA growth.
October 29, 1999... LCA-Vision Inc. has seen strong growth in its LasikPlus laser vision correction service and expects to record full-year, pre-tax earnings of 40 to 50 cents per share in 2000. LasikPlus centers offer laser correction surgery for $2,995 for...

P&G donates $1 billion gift.
October 29, 1999... Procter & Gamble Co. broke its own record of corporate benevolence with a $1 billion gift to the Milwaukee School of Engineering, a World leader in rapid prototyping systems. P&G is donating more than 40 U.S. and international patents and...

Comair net income up for 2Q.(Comair Holdings Inc., second quarter)(Brief Article)(Statistical Data Included)
October 29, 1999... Comair Holdings Inc., the parent corporation of Comair Inc., reported second-quarter 1999 net income of $34.6 million on $216.1 million in revenue, a 6 percent increase in net income over the second quarter of 1998. Comair is a Cincinnati-...

Home sales set record high.(Greater Cincinnati, Ohio)(Brief Article)(Statistical Data Included)
October 29, 1999... Despite rising interest rates, home sales in Greater Cincinnati were at a record high for the third month in a row in September. More than 1,800 homes were sold during the month, topping last year's number by 4 percent. Year-to-date, sales...

A&F stockholders file lawsuit.
October 29, 1999... Abercrombie & Fitch Co. stockholders have filed a class action lawsuit against the company, claiming it failed to disclose declining sales trends. The lawsuit was filed in the United States District Court for the Southern District of Ohio for...

GE lands $250M engine order.
October 29, 1999... Air France has selected a higher-thrust version of the GE CF6-80E1 engine to power up to 13 Airbus jets in an engine order valued at more than $250 million. The order will serve as a launching pad itself for the CF6-80E1A3 engine, the...

City 'Rehab-a-Rama' opens.
October 29, 1999... A group of 1890s Queen Anne-style houses are being renovated into two-family homes as part of the city of Cincinnati's 1999 "Rehab-a-Rama." The six houses, on Lincoln Avenue in Walnut Hills, will be sold for $300,000 each. Firstar Bank...

CINCINNATI POPULATION GROWTH LAGS.
October 29, 1999... CINCINNATI POPULATION GROWTH LAGS Cincinnati's population declined by a greater percentage than all but seven of the 100 largest U.S. cities from 1990 to 1998. All seven are larger than Cincinnati. Rank City ...

Online-only banks make waves.
October 29, 1999... Profits, however, still just a distant rumor A handful of banks -- both traditional and Internet-only -- have already established themselves as players in the world of online financial services. Wells Fargo & Co., the country's...

'Listen up docs'.
October 29, 1999... UC Physicians redefined their approach to patients, doctors Sometimes the medicine doesn't taste so good, even when you're one the biggest doctor groups in town. That's what UC Physicians found when it conducted a series of "voice of...

Sant Corp. envisions IPO or buyout in its future.
October 29, 1999... Venture capital infusion beefs up management The Sant Corp. took a big step toward a possible initial public stock offering by accepting more than $1 million in venture capital funding in March. Previously, the Norwood-based software...

Consultant can help small firms manage growth.
October 29, 1999... Finances can go awry even when cash flows Redecorating the dining room at the New York Stock Exchange was a big job for Tuite DiGiorgio Inc., the small New York-based custom furniture supplier that previously provided the furnishings for...

Ignore training your buyers at your own peril.(Statistical Data Included)
October 29, 1999... Companies pay more attention to sales staff In today's modern downsizing business environment, most companies have put a heavy emphasis on controlling their overhead, yet these same companies are consistently falling short in optimally...

Don't try to turn what you love into a business.
October 29, 1999... Design work around what you're best at Do not focus on what you love. Yes, I did just write that. So many people I know spend all their time and energy trying to find the one thing they love in order to design their work around it....

PEOPLE ON THE MOVE.
October 29, 1999... ACCOUNTING H.K. Campbell & Co. has promoted James Luebbe to manager. Todd Ryan and R. Bret Witte have joined Barnes, Dennig & Co. Ltd. as members of the wholesale/distribution team. ADVERTISING/MARKETING Strata-G...

Stitsinger assistant VP at Lebanon bank.(David Stitsinger, Lebanon Citizens National Bank)(Brief Article)
October 29, 1999... David Stitsinger has joined Lebanon Citizens National Bank as assistant vice president and lending officer for Hamilton and Fairfield. Stitsinger, who will work from LCNB's new office on Peck Boulevard in Hamilton, will be responsible for...

Aveni named to head downtown ad agency.(Tony Aveni, Sullivan Advertising Inc.)(Brief Article)
October 29, 1999... Tony Aveni has been named managing partner of Sullivan Advertising Inc., a downtown-based agency with 45 employees that provides marketing and advertising services to cable television operators. For the last three years, the Boston native...

Amount of assets to spend in retirement depends on market.(Statistical Data Included)
October 29, 1999... Five percent of savings considered standard annual amount How much can I spend when I'm retired? This is a question that many of us ask ourselves, whether we are about to embark upon retirement or are still several years away. One has...

Investors can combat disappointing earnings.(Statistical Data Included)
October 29, 1999... Portfolio investors must face each quarter the occasional stock that doesn't meet analysts' quarterly earnings expectations. The stock often drops as much as 20 or 30 percent on the news. Here are some suggestions on how to face the blowups:...

STOCK STATS.
October 29, 1999... STOCK STATS Exchange/ Year- Week- 52- 52- Ticker Close to-date ago net P/E week week Name of security symbol...

MORNINGSTAR MUTUAL FUNDS.
October 29, 1999... MORNINGSTAR MUTUAL FUNDS TOP 20 GREATER CINCINNATI FUNDS Fund Star Net asset Yr.-to-date 3-yr. Rank Fund name category rating value ...

EARNINGS.
October 29, 1999... EARNINGS (Dollars in millions except per Share data; revenues for financial institutions are net interest income plus other income) Current Yr....

MedPlus looking forward to next year's results.(Statistical Data Included)
October 29, 1999... Clients focused on Y2K for now For Richard Mahoney, the Y2K celebration can't come soon enough. Maybe then his company, MedPlus Inc., can start growing at a healthy pace and realizing profits. Like a number of companies in the health...

Small-caps get help from new research site.
October 29, 1999... It's a common problem for smaller public companies: They can't attract new investors because they can't attract the attention of Wall Street to get their story out. Now a Columbus start-up is trying to remedy the situation by...

ADAPTING TO ONLINE INVESTING.
October 29, 1999... Brokers join forces with the 'Net to provide financial assistance Online investing is taking off in a big way throughout the country. Many brokerage firms are taking advantage of technology and offering not only Internet access to...

Jon Deitloff Centre.(Statistical Data Included)
October 29, 1999... Team Approach Results in Successful Completion of State-of-the-Art Facility Deerfield Construction Company extends congratulations to Spring Grove Cemetery on the recent completion of the Jon Deitloff Funeral Centre. The Deitloff Centre...

Long-term perspective helps to achieve goals.(Brief Article)(Statistical Data Included)
October 29, 1999... With time, investments ride out fluctuations In this volatile environment, investors may be spending considerable time questioning whether this may be the time to exit the market or to continue to invest as usual. In any event, losing...

Choosing Internet stocks seen as difficult endeavor.
October 29, 1999... Selective investors can survive volatile market Warren Buffet reportedly said that if he were to give a test on how to value an Internet firm, he would fail everybody who offered an answer. Choosing the stocks of Internet firms to...

Companies seek staff accountants.(survey conducted by Accounting Principals)(Brief Article)(Statistical Data Included)
October 29, 1999... Staff accountants are the most difficult accounting and finance professionals today to both recruit and retain, according to a survey of 230 U.S. companies nationwide. The study was conducted by Accounting Principals, a subsidiary of...

Mutual funds getting more Web-friendly.(Brief Article)(Statistical Data Included)
October 29, 1999... Personal attention still an important factor Surfing the Net for information on mutual funds isn't the exclusive domain of the young anymore, said stockbroker Jim Atkinson. "I have 65- and 70-year-old clients asking me, `What's your...

Online brokers to offer more services.(Statistical Data Included)
October 29, 1999... Brokerage industry transformed by Internet Buying and selling securities today is as easy as buying the latest R.E.M. CD on Amazon.com or going to ticketmaster.com to snag seats for the next Cincinnati Reds game. Online trading sites...

Smart asset allocation is key to savings success.(Statistical Data Included)
October 29, 1999... You've worked hard to save money for your future, so it's important for your money to work as hard as possible for you. Simply saving for your goals-is not enough. How you invest your money among various types of investments, known as...

Software firm picks Neyer for Blue Ash office.(Statistical Data Included)
October 29, 1999... On the heels of a huge coup in Blue Ash, the $6.2 million signing of U.S. Financial Life Insurance Co. at a new office building on Alliance Road, Al Neyer Inc. of Fairfax scored another major victory by landing a leading applications software...

REJUVENATION AT JAMES RIVER.(Statistical Data Included)
October 29, 1999... Another California buyer bites piece of local pie, this time near Milford James River Corp., had some big plans for its corporate campus near Milford when it entered the local market back in 1991. James River paid several million...

Deimling growth fuels $1.4M expansion.(Statistical Data Included)
October 29, 1999... Clermont molding firm decided to stay at home Deimling/jeliho Plastics Inc. looked all over the Tri-State for potential spots for an expansion of its custom-injection tools and mold-making business, discovering a lot of places eager to...

Urban sprawl is a prickly, evolutionary concept.
October 29, 1999... The range of values related to sprawl or suburbanization and the diversity of professional opinion regarding suburban planning and related metropolitan impacts is a central concern of the Hamilton County Regional Planning Commission and our...

Largest Tri-State Internet Access Providers.(Statistical Data Included)
October 29, 1999... Largest Tri-State Internet Access Providers Mike Hennessy (Ranked by 1998 dial-up accounts and dedicated bandwidth sold [*]) ...

School bonding issue could hit you in pocketbook.(Statistical Data Included)
October 29, 1999... On election day, Ohioans will be asked to vote on State Issue 1. In general terms, this amendment authorizes the Ohio General Assembly to issue general obligation bonds to pay for repair and replacement of school buildings. Proponents...

Monroe mall will produce more sprawl.(Dayton Daily News moving from Dayton to Franklin.)
October 29, 1999... Two and one half years ago, the Dayton Daily News announced it was moving its presses to Franklin. This was a symbolic spark that ignited growing concerns about sprawl in our area into a firestorm for many in Dayton. In June of 1997,...

Public schools get `A' for effort.(Statistical Data Included)
October 29, 1999... Public schools have gotten so much bad publicity in the past year that even affluent suburban schools could be viewed as shooting galleries presided over by boulder-headed administrators and dimwitted teachers. So that makes it even...

We aren't the only ones who love Pete.
October 29, 1999... Wow. You could have knocked me over with a feather. Or a Comair stock certificate. And I'm still in shock. No, not that Charlie Luken decided being on Cincinnati City Council was more fun than being on TV (is he high?). I'm stunned...

The Cincinnati Bar Association.
October 29, 1999... Serving the Community for More Than a Century The Cincinnati Bar Association (CBA) is a 127-year-old organization whose membership encompasses the vast majority of attorneys in the Greater Cincinnati area. Through its many committees and...

Deposing Need Not Be Imposing.
October 29, 1999... 10 Tips to Remember if Deposed in a Business Case A deposition is a formal legal procedure in which the attorney for the other party will ask you a series of questions in what appears to be an informal atmosphere. The atmosphere appears...

A Plaintiff Lawyer's Perspective on Employment Termination.
October 29, 1999... Freking & Betz is predominantly a plaintiff-side employment litigation firm. During initial consultations, our clients often complain about being treated unfairly by their former employers. Some have viable legal claims, some do not. Many...

e-commerce -- Storefronts for the Millennium.
October 29, 1999... Most members of the business community are probably aware of e-commerce and the explosive growth that has been predicted for it. By 2002, consumer e-commerce is expected to increase to $26 billion, while business-to-business e-commerce could...

Ohio Business Taxes Eased.
October 29, 1999... The Ohio General Assembly has passed its enormous biennial budget bill, House Bill 283. Upon Governor Bob Taft's signature, a few limited substantive tax reductions were enacted and one long, slow tax phaseout was begun. Business...

Patenting Business Methods.
October 29, 1999... Since July 1998, it has been possible to patent a method of doing ness, giving you the right, to prevent others from making, selling or using the business method. Before this, courts had recognized a "business method" exception to...

'A Man's Castle is His Home'.
October 29, 1999... Exploring the Eminent Domain Issue "nor shall private property be taken for public use, without just compensation." United States Constitution, Fifth Amendment. "Private property shall ever be held inviolate, but subservient to...

New IRS Rules Require Retirement Plan Updates.
October 29, 1999... A word to the wise: Be very kind, as always, this year to the attorney who counsels you with regard to your benefits issues. He or she is in the throes of planning for a right-of-passage reserved for the employee benefits legal practice area...

Public/Private Partnering Paves Way for Urban Redevelopment.
October 29, 1999... During the past several decades, we have witnessed development primarily on the suburban fringe of our urban areas. Suburban office parks, retail centers, big box retail developments, warehouse/distribution centers and...

INSIER TRADING.
October 29, 1999... INSIDER TRADING (Shares indicate common shares except asnoted) Company/Officer Transaction Amount Price Baldwin Plano & Organ Co. Kenneth Pavia, ...

DIVIDENDS.
October 29, 1999... DIVIDENDS Increase Company Amount Period (from) Payable American Financial Corp. $1 ...

Delta left Comair little choice.
October 22, 1999... Local airline faced end of connection agreement Less than two weeks from the expiration of its Delta Connection agreement, Comair may have had few options but to give in to Delta Air Lines' acquisition, experts said. The announcement...

Merger could raise pilot pay issues.
October 22, 1999... HUNDREDS OF CINCINNATI-BASED airline pilots will be affected by upcoming labor negotiations. Delta Air Lines' purchase of Comair could be a boon to hundreds of Cincinnati-based pilots, experts say. But as Delta tries to work through...

Solid track record isn't helping Kendle stock.
October 22, 1999... Stock has plummeted by 70 percent in past year Can the stock of Kendle International Inc. fall any further? That's the question analysts and investors are asking as the third-quarter earnings reporting season enters prime time. Kendle...

WLWT director quashes talk of Channel 9 raid.
October 22, 1999... Who's in the mood for a good old-fashioned TV war? That's what some say we'll get, now that WLWT-TV Channel 5 has hired Ken Jobe as its news director. Jobe, you see, is a former executive producer at WCPO-TV Channel 9. The buzz among...

Kroger divisions introducing discount cards.
October 22, 1999... Customers can save on selected products Dillons, a Midwest grocery chain owned by Kroger Co., is preparing to introduce a new customer discount program that is gaining in popularity in other markets. Called the "Dillons Plus Card,"...

CORRECTION.
October 22, 1999... A letter to the editor in the Oct 15 issue should have read that the Cincinnati Stuff professional basketball team was voted. "Best New Sports Team" by Cincinnati Magazine. The incorrect team was listed.

Real estate firm on scene.
October 22, 1999... Commercial real estate competition heightens One of the biggest commercial real estate companies in the United States plans to make its own mark in the Tri-State's highly competitive and active commercial real estate industry. Palo...

Bell getting wired into national arena.
October 22, 1999... CINCINNATI BELL IS ON THE VERGE of completing its acquisition of IXC communications, turning it into a national, high-tech firm. Fifteen months after spinning off Convergys Corp., Cincinnati Bell Inc. will take the next step in its...