Sunday, March 19, 2000
TIPSHEET
Ohio Casualty regroups, plans new analysis
It is not exactly high noon at Ohio Casualty Corp., but the Hamilton-based property and casualty insurer wants to have plenty of ammunition before it meets with Wall Street again.
The company, walloped recently by management changes, a weak stock price and lower-than-expected earnings, plans to give Wall Street a detailed analysis soon of how it plans to keep the $4 billion asset insurer independent and off the selling block.
Cindy Denney, Ohio Casualty's spokeswoman, said Ohio Casualty's execs are busy examining ways to boost its underwriting profits and cut expenses. No figures yet on how much each will help the insurer, but Ms. Denney said they will be “very significant.” That's also why William L. Woodall, 76, Ohio Casualty's current vice chairman and recruited back as its president and chief executive officer, does not have to talk about how long he'll be at the company.
“He tells people to ask him when he's 80, and then how's that project you're working on coming,” Ms. Denney said. — Jeff McKinney
Tech gets chamber boost
The bluest of blue suits in downtown Cincinnati have started to spread their money in an unlikely place: the burgeoning tech corridors of Over-the-Rhine.
Several corporations have combined to contribute hundreds of thousands of dollars to Main Street Ventures, the group starting a technology incubator for young Internet companies in vacant space above many of the bars and restaurants on upper Main Street. Now, the Greater Cincinnati Chamber of Commerce plans to announce its $50,000 contribution this week.
The money is part of a transformation at the chamber that also will include a new technology council. It is interviewing for a director now.
Kitty Strauss, vice president of the chamber and head of the Chamber Institute for Small Enterprise, said smaller technology companies have critical needs in capital formation, image and work-force development.
“Those people are crying for workers,” she said. “We need to do the research and find out what's missing in this service area.” — Cliff Peale
AK takeover talk fizzles
So what's up with the speculation that Germany's Thyssen Krupp was preparing a $1.2 billion, or $12-a-share, offer for Middletown's AK Steel?
Not much, according to jag
notes.com, the online financial newsletter that reported the speculation March 3.
Dan Dorfman, a columnist for jag
notes, said last week after the newsletter's initial report that AK Steel got several other takeover inquiries including one at $14 a share. AK Steel won't comment on the speculation.
Mr. Dorfman says Thyssen indicated that it didn't want to get into a bidding war, and so far no deals are forthcoming.
The speculation has done little for AK Steel's stock, which was still trading last week at less than $10 a share, well below its 52-week high of almost $30 a share. — Mike Boyer
Realtor takes pitch to Web
Coldwell Banker West Shell's Robert Stanley realizes that Generation Xers do not buy or sell houses like baby boomers.
That's why his business, one of the Tristate's largest residential real estate firms, is investing $1.3 million in a marketing/branding campaign to appeal to potential buyers in both camps.
The campaign, running through the peak spring house-buying season, offers clients real-estate services and access to www.cbws.com, a new Web site that includes a concierge service, virtual tours and seven marketing programs for individuals and agents. The company is plastering the promotion in local print and electronic media.
“With all the changes in recent years and people using the Internet to shop, we want to show people there's still a lot of value in working with a Realtor,” Mr. Stanley said. “Those (companies) that don't see the Web poses a threat are in for a big surprise.” — Jeff McKinney
Items for Tipsheet are gathered by Enquirer business reporters and compiled by Lisa Biank Fasig of the business staff.
Big radio airs the sound of sameness
Pay stations, Internet to change what and how you hear
Clear Channel's wide reach
How Clear Channel became the biggest
Investors scorn city's 'old' firms
P&G ready to prove worth of Iams merger
Ohio processing plant to expand
Americans driving a little to save a little on gas
Banks hold off on major deals
Ohio Casualty regroups, plans new analysis
Bus driver markets anti-hate shirts
SMALL-BUSINESS DIARY
