Crain's Cleveland Business back issues from October 1991:
Society put on spot over inner-city loans. (Society Corp.'s planned acquisition of Ameritrust Corp. to push through only when bank loans to inner-cities are granted)
Oct 07, 1991; ... Challenge to merger threatened if bank doesn't pledge fundsA local community group and the city of Cleveland are demanding that Society Corp. commit to millions of dollars for inner-city lending before its acquisition of Ameritrust Corp. is allowed to proceed.So far, only ...
Kaiser eyes reserving Clinic beds. (Kaiser Foundation Health Plan of Ohio; Cleveland Clinic)
Oct 07, 1991; ... HMO formulating strategic plan for '95Kaiser Foundation Health Plan of Ohio has raised with Cleveland Clinic officials the possibility of the Clinic devoting an unspecified number of inpatient beds to members of Cleveland's largest health maintenance organization.Michael ...
Computer consultant plucks Apple project. (Richard Miller of InfoMasters Inc. starts contract with Apple Computer Inc.)
Oct 07, 1991; ... Richard Miller would love to take another bite of the Apple.Apple Computer Inc., that is.The maker of the Macintosh computer has reached across the country from its home base of Cupertino, Calif., in search of a computer consulting firm -- which it found at Mr. Miller's ...
CAMP gets $477,000 Gund grant to expand environment program. (Cleveland Advanced Manufacturing Program; George Gund Foundation)
Oct 07, 1991; ... The Cleveland Advanced Manufacturing Program, armed with a $477,000 grant from the George Gund Foundation, will expand a program to help small and medium-sized manufacturers cope with growing environmental regulations.The CAMP effort is known officially as the Environmental ...
Gateway signing short-term leases. (Gateway Corp.)
Oct 07, 1991; ... Gateway Corp. ballyhooed its commitments to lease 11 loges for 10 years at the proposed $160-million ball park, but it's quietly racking up sales of five- and three-year leases on loges at almost three times the clip of the Founders Club program. Vice president Harry Howell said Friday that ...
Ameritrust calls Call & Post notes.
Oct 07, 1991; ... Ameritrust Co. has been awarded a $406,193 cognovit judgment against the owner of the Call & Post newspaper. The judgment, filed Sept. 18 in Cuyahoga County Common Pleas Court, came after P.W. Publishing Co. failed to make the required loan payments on two promissory notes with a face amount ...
Nesco near purchase of plastics maker. (Kent Plastics Co.)
Oct 07, 1991; ... Officials at Nesco Inc. were hoping to complete the purchase of an Evansville, Ind., plastics company over the weekend. Last month, U.S. Bankruptcy Judge James Shapiro of Milwaukee approved the $2.34-million bid made by Nesco, a large, privately held Cleveland-based holding company, for the ...
Parma hospital names interim CEO. (Parma Community General Hospital names Thomas A. Selden chief executive officer)
Oct 07, 1991; ... Trustees at Parma Community General Hospital have named Thomas A. Selden acting chief executive officer. He currently serves as Parma Community's chief operating officer and will retain his duties overseeing the hospital's ...
Becker buys into sales promo firm. (George A. Becker becomes co-owner of SalesCom)
Oct 07, 1991; ... George A. Becker, former director of media relations of Traynor, Breehl & Glazen Advertising, has become co-owner of SalesCom, a sales promotion agency. SalesCom had been affiliated with the recently closed ad agency, but was owned ...
Cordage Bldg. apartment plan stirs ire in Flats. (conversion of commercial building to apartments, restaurants and office space)
Oct 07, 1991; ... A $6.5-million plan to renovate into apartments the former Cordage Papers Building at 1231 Main Ave. is touching off round two in the battle over the future of the Flats.Round one was spawned by the increased incursion of nightspots and restaurants into the industrial Flats. Peace ...
Differing prescriptions. (Revco D.S. Inc. and its creditors differ in their bankruptcy statements)
Oct 07, 1991; ... Revco, creditors split on Chapter 11 remedyAt first glance, there's a strong resemblance between the disclosure statement covering a plan of reorganization filed in June by Revco D.S. Inc. and a disclosure statement filed last week by a coalition of Revco creditors.But a ...
Deal leaves Charter One in lending mood. (Charter One Financial Corp.'s acquisition of First Federal Savings of Toledo)
Oct 07, 1991; ... Cleveland-based Charter One Financial Corp. has about $500 million it needs to invest as a result of its Sept. 27 acquisition of First Federal Savings of Toledo."We are much more liquid as a result of this deal," said Charter One chief executive officer Charles "Bud" Koch. "We're ...
Ostendorf-Morris loses two brokers to Chartwell Group. (real estate brokerage; Richard Katz, David Wagner)
Oct 07, 1991; ... Two more brokers from Ostendorf-Morris Co. left the city's largest commercial real estate brokerage Oct. 1 to join Chartwell Group Inc., a start-up commercial brokerage in Pepper Pike.Richard Katz, 46, a 10-year veteran of O-M and the second-most-senior associate in its investment ...
Penton cuts jobs, revamps organizational structure. (Penton Publishing Inc.)
Oct 07, 1991; ... Penton Publishing, which last month made the first layoffs in its 87-year history by eliminating 70 positions, also has created a new publishing group which includes its flagship magazine, Industry Week.Daniel Ramella, who last year was named president of the Cleveland-based trade ...
Superior Savings squeeze traps condo owners. (Superior Savings Association's takeover by the Resolution Trust Corp. puts real estate developers in a financial mess)
Oct 07, 1991; ... There are some victims of the savings and loan crisis who won't be made whole by the government. John Jacobs and Barry Sabol are two of them.If you thought the Carl Sagan-sized tab taxpayers are paying to clean up the S&L mess would bail out everyone who ever got burned by a ...
Physicians Health Plan aims to sell Ohio network. (United HealthCare Corp.)
Oct 07, 1991; ... Physicians Health Plan Corp. of Columbus, which operates a health maintenance organization in Akron, has signed a letter of intent for the sale of the company's Ohio operations to United HealthCare Corp. of Minneapolis.Though details of the sale haven't been finalized, United ...
LTV sees some gold in recycled steel cans. (LTV Steel Co. recycles steel cans for profit)
Oct 07, 1991; ... LTV Steel Co. is creating a market for recycled steel cans.This year, LTV will melt more than 55,000 tons of can scrap in its steelmaking furnaces, said Robert Muhlhan, LTV's manager of production materials.It's part of a steel industry effort to support recycling and ...
Lost Bell account may cost Fahlgren jobs. (Fahlgren Martin advertising agency may downsize after losing its contract with Ohio Bell Telephone Co.)
Oct 07, 1991; ... A third of the employees at the Cleveland office of Fahlgren Martin may receive pink slips after the ad agency loses the Ohio Bell Telephone Co. account after Dec. 31, according to the agency's chief executive officer."The office is losing a third of its business; we'll probably ...
Shareholder cuts stake in Medusa. (Arnhold and S. Bleichroeder Inc.'s stake in Medusa Corp.)
Oct 07, 1991 ... Arnhold and S. Bleichroeder Inc., a New York investment firm, has reduced its ownership stake in Medusa Corp. of Cleveland Heights to 6.1% from 13.8%, according to a 13-D filing with the Securities and Exchange Commission last month.A Bleichroeder spokesman refused to ...
On the road to growth. (real estate development in northeastern Ohio)(Vistas)
Oct 07, 1991; ... Development is booming along Rt. 18The real estate slump has stalled development in most areas of northeastern Ohio. But expansion along state Route 18 between Fairlawn and Medina continues to roll along like the cars and 18-wheelers which traverse this 7 1/2-mile stretch of road ...
Voters making rezoning tougher. (referendum to tackle zoning laws)(Vistas)
Oct 07, 1991; ... The real estate business rides a roller coaster which goes from boom to bust, but one constant is the steadily rising community resistance to development.Zoning referendums are on the coming November ballot in at least 16 northeastern Ohio communities. The referendums ask voters to ...
Akron: waiting for the party to get started. (retail trade recovers in downtown Akron, Ohio)
Oct 07, 1991; ... Downtown still struggles for retail recoveryFor 25 cents, office workers and casual strollers in downtown Akron can hop aboard trolleys which last May began cruising Main Street at midday. Riders roll along-side handsome new brick sidewalks, part of a $4.5-million downtown makeover ...
Small towns struggle for spot in limelight. (urban development in Cleveland and Akron, Ohio)
Oct 07, 1991; ... These aren't easy times for small-town downtowns in northeastern Ohio.Much of the region's attention and resources are focused on continuing the revival of its two major downtowns: Cleveland and Akron. Yet outside the limelight, small towns are struggling with many of the same ...
PBGC warns pension premiums could double. (Pension Benefit Guaranty Corp.)
Oct 07, 1991; ... WASHINGTON -- Pension insurance premiums could eventually more than double if a recent federal court ruling over LTV Corp.'s three hugely underfunded pension plans is allowed to stand, says the Pension Benefit Guaranty Corp.'s executive director.A U.S. District Court in New York ...
Huntington National Bank. (appoints W. Lee Hoskins to president and chief executive officer)
Oct 07, 1991 ... W. Lee Hoskins to president ...
Shincor Silicones Inc. (Wojtek Madalski appointed president and chief executive officer; Hajime Tomisato appointed chief financial officer)
Oct 07, 1991 ... Wojtek Madalski to president and chief executive officer; Hajime Tomisato to vice ...
Nicholson Terminal loses windows but gains a view. (warehouse renovation)
Oct 07, 1991; ... Quay 55 -- the proposed office rehab of the lakefront Nicholson Terminal Building -- might be called the ultimate in see-through buildings, for now.About 1,600 window sashes were removed from the warehouse this summer by developers of Quay 55. The building is next to Memorial ...
Society, credit union cooperate to offer neighborhood bank. (Society National Bank; Faith Community United Credit Union Inc.)
Oct 07, 1991 ... To keep banking services available to a neighborhood on Cleveland's East Side, Society National Bank is assisting Faith Community United Credit Union Inc. to establish an office in a former Society branch at East 93rd Street and Union Avenue.Faith United claims to be the largest ...
Spotlight begins to fall on minority market. (GAP Communications Group caters to minority consumer market) (company profile)
Oct 07, 1991; ... Publications and advertisers are zeroing inAlexandria Boone is no loner, especially when it comes to trying to capitalize on what she called "a growing realization that there's a $1-billion minority consumer market here that isn't being fully recognized."Ms. Boone is ...
ProForma buys Crusader Office commercial group. (Crusader Office Products Inc.)
Oct 07, 1991 ... ProForma Inc., a Cleveland-based franchiser and distributor of office products, has purchased the commercial division of Crusader Office Products Inc., another Cleveland office supply company.Gregory P. Muzzillo, president of ProForma, said 10 employees of Crusader now will work ...
Ameritrust courts law student loan market. (Ameritrust Corp. to offer loans to law students)
Oct 07, 1991 ... Here's a switch: Lawyers paying a bank.In a few years, a lot of lawyers are going to owe a lot of money to Ameritrust Corp. -- or more likely Society Corp., assuming the merger of the two banks is completed.Ameritrust has made more than $600 million in loans to law ...
Royal Appliance's IPO riding two-month surge. (Royal Appliance Manufacturing Co.'s successful initial public offering)
Oct 07, 1991; ... So far, it's a clean sweep for Royal Appliance Manufacturing Co.Royal's stock has been climbing from the day it opened Aug. 6 at an unexpectedly high price of $15.50 a share (Royal expected to hit the market at $13.50 a share, but excess demand drove up the price). And despite a ...
New USS/Kobe update. (USS/Kobe Steel Co. to redesign and upgrade Lorain mill)
Oct 21, 1991; ... Lorain mill's redesign plans spell competition for AS&WAnother major modernization project is in the early planning stages at the USS/Kobe Steel Co. mill in Lorain. And it could stiffen competition for American Steel & Wire Co.The USS/Kobe board is scheduled to meet ...
Downturn has lawyers scrambling for new jobs.
Oct 21, 1991; ... There's a new rage catching on in the Cleveland legal community. You could call it the "Partnership Shuffle."For reasons which include tight economic times, a number of partners at large area firms have left to join smaller firms or have abandoned the profession all-together. While ...
Society merging three state banks. (Society Bank N.A.; Society National Bank; Society Bank & Trust)
Oct 21, 1991; ... Consolidation to boost lending, cut paper workSociety Corp. wants to merge its three Ohio affiliates into what will be the state's largest bank to increase the bank's lending authority and decrease the amount of time bank executives spend on administrative functions. ...
Consultant showing Navy how to ship out. (consulting firm Manufacturing Resources Inc.'s contract to improve Navy shipyard metalworking operations)
Oct 21, 1991; ... A manufacturing consulting firm in Independence is going to help the U.S. Navy get ships out of its major repair yards faster.Manufacturing Resources Inc. was selected last month by the National Institute of Standards and Technology in Gaithersburg, Md., to develop a plan for ...
Sheriff closes Bockwinkel's.
Oct 21, 1991; ... Bockwinkel's, an upscale grocery store in the Reserve Square complex downtown, has been closed by the Cuyahoga County Sheriff's Office after it was sued by a supplier.The supplier, American Seaway Foods Inc., won a judgment last month against Bockwinkel's for a $215,674 unpaid ...
Dairy Queen to open in downtown Galleria.
Oct 21, 1991; ... The operators of a Dairy Queen franchise in Rocky River plan to open a Dairy Queen in the Galleria on Oct. 21. Carolyn ...
Publix opens books to Chapter 11. (Publix Book Mart Inc. files for bankruptcy protection)
Oct 21, 1991; ... Despite filing for Chapter 11 bankruptcy protection last week, Publix Book Mart Inc. will remain open as usual, said Wesley C. Williams, president and principle owner. Publix, at 2037 E. 14th St., is "book rich and cash poor," Mr. Williams said. The store listed $161,000 in assets and ...
Hospitals merge maternity units. (MetroHealth Hospital for Women; St. Luke's Hospital)
Oct 21, 1991; ... MetroHealth St. Luke's Medical Center has notified the Ohio Department of Health that it plans to combine the maternity unit at MetroHealth Hospital for Women into the obstetrics program at St. Luke's. According to John Gillespie, MetroHealth's senior vice president for strategic planning, ...
Another aftershock. (reorganizing Nestle USA Inc. to close warehouse)
Oct 21, 1991; ... Reorganizing Nestle USA to shut distribution centerRepercussions from the reorganization of Nestle USA Inc. are continuing to be felt in the Cleveland area as the company plans to close a 3-year-old, 300,000-square-foot distribution center in Twinsburg Township.Richard ...
Steelmakers brace for war with imports. (LTV Steel Co. files unfair trade lawsuit against foreign steel companies)
Oct 21, 1991; ... Six companies say foreigners are 'dumping'After eight years of uneasy peace, a steel trade war is looming on the horizon for U.S. companies and major steelmakers in Japan, Europe and South America.LTV Steel Co. is one of six large domestic steel companies which have been ...
'Free' reports by TRW will cost consumer. (credit reports)
Oct 21, 1991; ... Don't expect TRW Inc. to swallow the cost of those free credit reports which consumers can obtain from the company starting next year. It will pass the expense along to the businesses which buy the reports, and they'll pass it on to their customers.That's the scenario gained from ...
Dicey navigating. (Department of Health and Human Services' guidelines for hospitals and doctors engaged in business arrangements )
Oct 21, 1991; ... Hospitals mull Medicare's 'safe harbors'New Medicare and Medicaid "anti-kickback" rules governing the business relationships between hospitals and doctors have hospital executives and healthcare lawyers reviewing deals which could be threatened.The rules, which were ...
Lamson pins hope for future on Carlon unit. (Lamson & Sessions Co.'s plastics division)
Oct 21, 1991; ... At Lamson & Sessions Co., the recession-bruised maker of construction products, truck frames and specialty fasteners, officials sum up the future concisely: Carlon and plastic.The Carlon unit of Lamson & Sessions early next year will move its new products staff, research and ...
MDP Burger promotion: an act of faith, beef, bun. (Michael Dean Perry endorses McDonald's triple cheeseburger with bacon)
Oct 21, 1991; ... Stern Advertising and Mike Henry, McDonald's regional marketing manager, thought they had the perfect autumn promotion for the 189 McDonald's restaurants in northeastern Ohio.Michael Dean Perry, the Cleveland Browns All-Pro defensive lineman, was going to endorse his very own ...
Ameritrust files to foreclose loan on Cincy project. (Ameritrust Bank; Sharonville Office and Industrial Park L.P.'s partly completed office park in Cincinnati)
Oct 21, 1991 ... Ameritrust may soon have some new property on its hands.According to a report in the Cincinnati Business Courier, the bank has filed in Hamilton County Court of Common Pleas to foreclose on a $6-million mortgage on a partly completed office park in Sharonville, a ...
Bell & Howell Publication Systems Co.: David F. Gump.
Oct 21, 1991 ... BELL & HOWELL Publication Systems Co.: David F. Gump to chairman and chief ...
Gencorp Polymer Products: Marvin W. Zima.
Oct 21, 1991 ... GENCORP POLYMER PRODUCTS: Marvin ...
It's the Midas touch. (success story of Malachi Mixon of Invacare Corp.)
Oct 21, 1991; ... Investments pay royally for MixonThis is the story of how Malachi Mixon turned $30,000 into more than $50 million in 12 years. Read and learn.He made his fortune in, of all things, wheelchairs and vacuum cleaners. And he'd rather talk about his companies than himself, ...
Banks forced to retool lending policies.
Oct 21, 1991; ... Service business borrowers short of capital for collateralBusiness lending in northeastern Ohio used to be easy. Bankers knew that the traditional Rust Belt firms to which they loaned money had collateral -- drill presses, forklifts trucks or inventories -- out on shop floors ...
Make pension laws clearer, CEOs say. (chief executive officers)
Oct 21, 1991; ... Most chief executives at small and medium-sized companies agree federal pension laws and regulations are too complex, according to a recent survey.Almost all the CEOs surveyed -- 98% -- think pension laws are too complex, and 79% support their simplification. In fact, the survey ...
New idea struggles to find the funds to make it work. (Akron Polymer Container Corp. needs funding to market its aerosol dispensers) (Company Profile)
Oct 21, 1991; ... Akron Polymer Container Corp. thinks it has a better idea for an aerosol can. It just needs to find someone who will spray it with a little gold, $2 million worth.Five years ago, Robert Winer, president of Akron Polymer, had the idea of using rubber, balloon-style, for a ...
Fugo hunting for new name for Metro Club. (City Life Inc. president Denise Marie Fugo; Metro Club restaurant)
Oct 21, 1991 ... Denise Marie Fugo is looking for a few good names.The president of City Life Inc., which operates Sammy's restaurant in the Flats and the Metro Club restaurant on the 21st floor of the Huntington Building, is unhappy with the Metro Club name and is asking the public for suggestions ...
Smaller bites: Nestle mulls eatery split-up to ease sell-off. (Nestle USA Inc. may entertain offers to buy Stouffer Restaurant Co. market by market)
Oct 28, 1991; ... Stouffer Restaurant Co. -- which was put on the block in July 1990 -- now may be broken up and sold market by market.Unable to find a single buyer for its 60 restaurants, parent company Nestle USA Inc. "may begin entertaining offers for restaurants in other markets (outside ...
Elyria to gain from Ky. loss; York Int'l move could bless plant with 500 jobs. (York International Corp. may move manufacturing operations to Elyria, Lorain County, Ohio)
Oct 28, 1991; ... York International Corp. may move manufacturing operations from Kentucky to its Elyria plant, where up to 500 jobs could be added because of the change.Elyria city officials, organized labor and the state of Ohio are packaging incentives to help cement the deal."All the ...
Transohio probe by OTS finds more problem loans. (examination of Transohio Savings Bank by U.S. Office of Thrift Supervision)
Oct 28, 1991; ... The current examination of Transohio Savings Bank by the U.S. Office of Thrift Supervision has uncovered more problem loans at the thrift, Crain's has learned.Two sources familiar with the exam say it has uncovered problem loans not previously addressed by Transohio. They wouldn't ...
Thrift grows at Reserve Sq. (TransOhio Savings Bank to move three departments to Reserve Square apartment, retail and hotel complex in Cleveland, Ohio)
Oct 28, 1991; ... Transohio Savings Bank will move three departments to the massive Reserve Square apartment, retail and hotel complex in downtown Cleveland.Chicago developer Sam Zell's Equity Investments Co. is shearing off a portion of Reserve Square's southwest corner for an atrium and entrance ...
Toe-tapping dancing back in the limelight. (renewed interest in tap dancing brings business to dance studios)
Oct 28, 1991; ... The tap dance revival is starting to click big in Cleveland. And that means business for Cleveland-area dance studios."Tap dancing started to gain people's interest five years ago -- but now it's a craze," said Noreen Londregan, owner of Noreen Londregan School of Dance in Mayfield ...
Bearings CEO tearfully bows out. (Bearings Inc. chairman and chief executive officer George L. LaMore resigns)
Oct 28, 1991; ... In a rare display of emotion by a CEO, George L. LaMore bid a tearful goodbye Tuesday to shareholders of Bearings Inc.Appearing at his last annual meeting as chairman and chief executive officer of the nation's largest independent distributor of bearings and power transmission ...
PD unions press management on pacts. (unions at The Plain Dealer newspaper)
Oct 28, 1991; ... Unions at The Plain Dealer stepped up the pressure in their contract talks with the newspaper's management. On Saturday, members of the Cleveland Newspaper Guild, which represents 300 PD employees, met to vote on whether to authorize a strike against the paper. A second vote would precede ...
Venture Lighting asks suppliers to wait. (Venture Lighting International Inc. asks unpaid suppliers to be patient)
Oct 28, 1991; ... Venture Lighting International Inc., a Solon arc lamp manufacturer, is asking unpaid suppliers to remain patient while it solves what it terms temporary cash flow problems. A letter under the signature of Louis S. Fisi, Venture Lighting's executive vice president and chief financial officer, ...
Firm going public with acquisition. (Hi-Tech Exchange Inc. to buy Stowaway Inc., change its name to NuMed Home Health Care Inc. and make an initial public offering)
Oct 28, 1991; ... A local medical technology firm has found an inexpensive way to go public. Hi-Tech Exchange Inc. in Independence is purchasing Stowaway Inc. of Springvale, Utah, a shell company which has no assets or liabilities but is traded in the over-the-counter market. Hi-Tech president Jugal K. Taneja ...
Wyman-Gordon disperses plant equipment.
Oct 28, 1991; ... The dismantling of the Wyman-Gordon Co. aircraft castings plant on West 150th Street was begun last week as the owners moved some of the production equipment to its four other foundries around the country. "We lost it," said Joseph Gorn, who early this year was brought in as ...
Nesco drops bid for Indiana firm. (Kent Plastics Co.)
Oct 28, 1991; ... Nesco Inc. has dropped its plans to buy a bankrupt Indiana plastics company. The largest creditor of Kent Plastics Co. in Evansville, Ind., had appealed a U.S. Bankruptcy Court judge's ruling which would have allowed Nesco, a private Cleveland holding company, to ...