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COMMERCE IN BRIEF
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McCarthy
Sells Majority Stake to Employees
Above:
Michael M. McCarthy recently sold his majority ownership interest
in St. Louis-based McCarthy Building Companies, Inc. to the firm
and its employees. Michael McCarthy (left) assumes the position
of chairman emeritus and Mike Bolen (right) retains his current
position as chief executive officer and assumes the role as chairman
of the board.
McCarthy Building Companies Inc., the nation’s 17th largest domestic
general contractor, announced that Chairman Michael McCarthy sold
his majority ownership interest in the company to the firm and its
employees. In anticipation of the transition to 100 percent employee
ownership, McCarthy created the employee stock ownership plan (ESOP)
in 1996.
Michael McCarthy is now chairman emeritus and continues to advise
the board of directors. Mike Bolen remains chief executive officer
and added the role of chairman.
Other key McCarthy executives include Midwest Division President
Karl Kloster; President/ Chief Operating Officer Mike Hurst; and
Executive Vice President/ Treasurer & Chief Financial Officer George
Scherer.
The 138-year-old company remains privately owned with the McCarthy
ESOP having 70 percent ownership and 30 percent owned by individual
company managers. McCarthy, the great grandson of company founder
Timothy McCarthy, was the final family member to have an ownership
interest in the firm.
Saint Louis Zoo Exceeds Challenge with $69.5 Million in Gifts
in Four-Year Campaign
Above:
Saint Louis Zoo staff, volunteer leadership and major gift donors
to the Penguin & Puffin Coast take part in the formal “ice-breaking”
ceremony held in February. Chipping away at the large blocks of
ice are (from left to right): Michael Macek, curator of birds; Mike
Loynd, Interco charitable trust administrator; Liz Green, major
gift donor; John Kalishman, son of major gift donor Nancy Kalishman;
Doris and David Lichtenstein, representing the David B. Lichtenstein
Foundation; Jo Ann Kindle, president of the Enterprise Rent-A-Car
Foundation; Dr. William Boever, newly appointed director of the
Saint Louis Zoo; Jan Goldstein, immediate past president of the
Zoo Friends Association, and Steven F. Schankman, chairman of the
Saint Louis Zoo Commission.
Fans of the Saint Louis Zoo can look back on April 1, 2002, as the
day that made all the Zoo’s coming additions and improvements possible.
That was the date of The Kresge Foundation’s challenge deadline,
which earned an additional $1.5 million for the fund raising campaign.
The Saint Louis Zoo 2004: Gateway to the Animal World campaign kicked
off in May 1998 with a goal of $55 million. In December 2000, The
Kresge Foundation challenged the Zoo to reach an increased goal
of $63 million by April 1, 2002. Meeting or exceeding this goal
on time would put another $1.5 million in the Zoo’s campaign fund.
“We issue challenge grants to help organizations realize their dreams
and build capacity for the future,” said John E. Marshall III, president
of The Kresge Foundation. With the deadline approaching, the Zoo
was able to rally community support. KMOX stepped in hosting a “radiothon”
and auction. Previously, the David B. Lichtenstein Foundation gave
$1.5 million for the new penguin habitat. In the final days of March,
that organization committed an additional $1.2 million putting the
Zoo over the top for the challenge grant.
After the goal had been met, three other donors came forward with
gifts of more than $1 million. Over the course of the campaign,
the Zoo reported that more than 6,000 donors contributed the $69.5
million in cash and pledges.
Contributions to the Zoo’s campaign are funding projects such as
the new home for Raja and the Asian elephants, the Penguin & Puffin
Coast, as well as Fragile Forest, an expansion of Jungle of the
Apes for chimpanzees and orangutans, and many other improvements.
Forest Park Hospital Receives Certification for Diabetes Education
Program
Above:
Administrators from the American Diabetes Association (ADA) join
with Forest Park Hospital’s team to display the new certificate
for diabetes self-management program (from left): Leslie Lake, district
manager, ADA; Ed Clay, vice president of community relations, ADA;
Mary Lawrence, RN, certified diabetes educator, Forest Park Hospital;
John Sanders, CEO, Forest Park Hospital; Mary Lynn LeBeau, RN, clinical
dietitian and member of the hospital’s Diabetes Advisory Board;
and Dr. Kim Carmichael, member of the hospital’s Diabetes Advisory
Board.
Forest Park Hospital’s Diabetes Self-Management Education Program
recently earned the American Diabetes Association Education Recognition
Certificate. Programs applying for recognition voluntarily submit
to a review process by diabetes experts who evaluate each program.
“This process of certification gives our diabetes educators a national
standard by which to measure the quality of services we provide,”
says John Sanders, hospital chief executive officer, adding that
the certification also recognizes the comprehensive diabetic education
patients received.
The 450-bed Forest Park Hospital on Oakland Avenue is one of five
hospitals in St. Louis owned by Tenet Healthcare Corporation.
Washington University School of Business Honors Four Alumni and
Two Families
The John M. Olin School of Business at Washington University honored
four alumni and two families at its 16th annual Distinguished Alumni
dinner in April.
The honorees were: alumni Joseph Michael Blomker, Harold Brinner,
Harvey Brown, and Raymond Harmon. Two families, the Skandalaris
Family and the Stern Family, received the Dean’s Medal, awarded
for exceptional dedication and service to the school.
Through a generous gift, Robert and Julie Skandalaris helped to
establish the Skandalaris Program in Entrepreneurial Studies at
the Olin School in 2001. Robert Skandalaris is chairman and chief
executive officer of Noble International Ltd., a holding company
in Bloomfield Hills, Mich. He serves on the school’s National Council.
Max and Deborah Stern own Moss & Associates Inc., a wholesale and
retail furniture business in Dearborn, Mich., which employs 42 people.
The Stern Global Investment Fund allows Olin students to gain hands-on
investment experience by managing the first non-equity fund in the
business school’s Investment Praxis course.
Joseph Michael Blomker, who received a master of business administration
degree in the Olin School’s Executive MBA program in 1990, is co-founder
of Maryville Technologies, an engineering and systems integration
firm. He is a 1999 regional winner of the Ernst & Young Entrepreneur
of the Year Award.
Harold Brinner received a bachelor of science in business administration
from the business school in 1938. During his 25-year career with
Mallinckrodt, he served as vice chairman, chief financial and administrative
officer. Brinner saw the company evolve into one of the country’s
major chemical and pharmaceutical corporations before retiring in
1980.
Harvey Brown, partner and founder of Rubin Brown Gornstein & Co.,
LLP, received a bachelor of science in business administration from
the business school in 1948. Celebrating its 50th anniversary this
year, the CPA firm started with just Brown and his two partners.
It is now the fifth-largest one-office CPA firm in the U.S., the
largest in the State of Missouri, and employs 250 people.
Raymond Harmon, co-founder and chairman of Growing Family Inc./First
Foto (formerly HASCO International), received a bachelor of science
in business administration from the Olin School in 1948. Harmon
began his career in 1955 when he bought the Identi-Foto franchise
in Washington, D.C., promoting infant photography to area hospitals.
He and his wife, Grace, soon built the business into a nationwide
success. First Foto was born in 1965, uniting the firm’s eastern
operations with Chicago and St. Louis franchises. In 1977, the company
headquarters was moved from Virginia to St. Charles, Mo. Growing
Family Inc./First Foto now has 80 percent of the U.S. market, serving
more than 2,600 hospitals and employing more than 1,600 people.
Allegiant Bank Donates Historic Building
1928 bank building where members of the Busch family once presided
as bank officers is part of a neighborhood redevelopment project.
The former South Side National Bank at South Grand Boulevard and
Gravois Avenue became the property of the Grand Oak Hill Community
Corp. when Allegiant Bank turned over the deed during an April ceremony.
Allegiant, headed up by Shaun Hayes, president and CEO, acquired
the building when the bank merged with South Side National Bank
last fall. The historic structure was no longer needed as a bank
branch. The building’s new owner, Grand Oak Hill Community Corp.,
a nonprofit neighborhood organization, is working with a firm to
redevelop the 10-story, Art Deco building.
Sara Lee Moves Baking Operations to St. Louis
Following their acquisition of Earthgrains Co. last year, Sara Lee
Corp. is moving its national baking operations to St. Louis, adding
110 jobs. Barry Beracha, CEO, says to accommodate the new Sara Lee
Bakery Group, the company expanded its St. Louis office space and
enlarged the research and development facility in Berkeley. ARCO
Construction Co. completed the 47,000-square-foot expansion, which
will house equipment previously located in Chicago.
Combining the operations boosts Sara Lee Bakery Group’s workforce
in St. Louis to more than 600. Now the second-largest producer of
packaged bakery products in the U.S., the bakery group accounts
for $3.4 billion of Sara Lee’s total annual revenues of $20 billion.
Husch & Eppenberger Expand Presence in Springfield
Greene & Curtis LLP, a business law firm in Springfield, Mo., has
joined the firm of Husch & Eppenberger LLC. The seven attorneys
of Greene & Curtis are now part of the firm with more than 260 attorneys
throughout the Midwest. In addition to Springfield, Husch & Eppenberger
has offices in St. Louis, its headquarters; Kansas City, Mo.; Jefferson
City, Mo.; Peoria, Ill.; Wichita, Kan.; and Chattanooga, Tenn. |
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