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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony, -- Ignore unavailable to you. Want to Upgrade?

To: Anthony@Pacific who wrote (64362)	12/12/2000 10:44:52 AM
From: StockDung	Respond to of 122087

Veteran brokers key to Salomon Grey's growth Rusty Cawley When Kyle Rowe bought Dallas stock brokerage Salomon Grey Financial Corp. in 1998, it was little more than a one-broker operation with a reach that ended at the state borders. Two years later, Rowe's brokerage has grown to 11 offices, including Denver, Atlanta, Miami and New York City. Salomon Grey now has more than 60 brokers and is registered to do business in 48 states. The company recently moved into a new corporate headquarters in Three Lincoln Centre. What's more, Salomon Grey has rocketed from virtually zero customers to more than 15,000. How does a brokerage grow that quickly? By attracting veteran brokers to the firm with upscale compensation packages, Rowe says. "In this industry, there a lot of brokers who aren't happy with their firms," the company's president and CEO says. "We're fair to the brokers. We pay them on time. We keep our word. That brings a lot of brokers to our door and they bring their clients with them." Rowe is aiming to top $10 million in revenue in 2000. "By the end of the year, we'd like to have 25 to 30 offices open," Rowe says. "We also want to have about 200 brokers by then. We want to become a big force in the industry just as fast as possible." Loose change Monarch Capital Partners took part in a three-investor deal to put $11 million in venture capital in MDeverywhere, a North Carolina company that is developing Internet tools for physicians. Monarch claims both Dallas and Atlanta as its hometowns. Wells Fargo Bank-Texas N.A. is looking to open new locations in Fort Worth, Irving and Bedford. The Fort Worth site is 6611 Meadowbrook, just east of U.S. 820. The Irving location is 1522 W. Airport Freeway, just west of MacArthur Boulevard. In Bedford, Wells Fargo is considering two locations near the intersection of Central Drive and Airport Freeway. Dallas investment banker Halter Capital Corp. agreed to consult with King Power International Group Co. Ltd. in Bangkok, Thailand. King Power is Asia's largest publicly traded operator of duty-free, tax-free retail stores. The company controls 55 locations, most of them in Thai airports. New York-based PennCorp Financial Group (NYSE: PFG) entered voluntary Chapter 11 bankruptcy, which may help PennCorp sell off its Dallas-based life insurance operations, Southwestern Life Insurance Co. and Security Life & Trust Insurance Co. PennCorp has a $260 million deal to sell those divisions to Swiss Reinsurance Co. of Zurich, Switzerland. Texas Bank in Weatherford got the state's OK to open branches in Fort Worth and in Hudson Oaks. The Fort Worth location will go in at 8875 W. Highway 80, just east of U.S. 820. Hudson Oaks is a community to the southwest of Weatherford on Highway 80. Dallas-based Smith Barney Private Trust Co. of Texas has changed its name. The company is now known as Citi Fiduciary Trust Co. of Texas. Dallas-based Cytoclonal Pharmaceuticals Inc. (Nasdaq: CYPH) is calling in all Class C stock warrants. Each warrant may be exercised for $6.50. The holder will receive one share of Cytoclonal, which now trades for about $13, plus a Class D warrant. After March 8, the Class C warrants become worth 5 cents each. Renown Des Moines, Iowa, investor John Pappajohn has taken a 3% stake in Collegiate Pacific Corp. (OTCBB: BEEZ), a Dallas manufacturer of sports equipment. Pappajohn bought 100,000 shares at $5 each. American Pad & Paper Co. (OTCBB: AMPP) nailed down $65 million in financing that may help the struggling manufacturer emerge from Chapter 11 bankruptcy, shortly after getting final approval from a judge. The company is now looking to sell off some of its divisions to cut into its debt. American Pad & Paper did not disclose the name of the lender. Copyright 2000 American City Business Journals Inc. Click for permission to reprint (PRC# 1.1647.282180) google.com