Transit Advertising: At Age 57, a Start-Up

Name Change: Veritas to Vectramed

Stock News

Management Moves

Leaving Town

Deaths

Corrections or additions?

These articles by Barbara Fox were prepared for the December 6,

2000 edition of U.S. 1 Newspaper. All rights reserved.

Faithful & Gould — Chartered Surveyors

Land developers and owners often have good reason to

fret about costs and schedules: Can a hotel be built at a particular

spot within the nine-month deadline? Is the contractor working as

cost effectively as possible, they ask. In Great Britain, when

developers

question these aspects of construction, they call in a Chartered

Surveyor

with a "CS" degree.

If that term seems unusual, that’s because most Chartered Surveyors

are trained in Britain. Chartered Surveyors — who know

construction

technology, law, economics, construction management — have been

working in England for 500 years. Only just recently have they been

imported to work in North America.

One British company, Faithful & Gould, has set up a regional

headquarters

at 100 Canal Pointe. Founded in 1947, the firm has 120 workers in

North America and 1,600 worldwide. To lease its 4,000 square foot

space, it was represented by Warren Searles of Colliers Houston. Ten

people work here now but more are being added.

"We provide a service that embraces several different

functions,"

says Chris J. Taylor, the senior operations director. "We have

individuals knowledgeable across the broad sphere of commercial

management.

We promote ourselves on the basis that the cost savings will more

than likely pay for our services due to reduced construction costs,

adherence to schedule improvement, and improved efficiency."

"We are attorneys with accounting and contractual knowledge who

can go in and shake the tree on the owners’ behalf," says Jeff

Gendler, business development manager. "For real estate assets,

we are cost consultants, program consultants, and contract

consultants.

As the middleman between the owner and the contractor, we sit in the

construction company’s trailer."

Taylor denies that his firm has any direct competition. His actual

competition might come from the construction division of a Big Five

accounting firm such as PriceWaterhouseCoopers, the construction

management

division of an architectural firm such as Hillier, or a similar

division

at an engineering firm, such as URS O’Brien Kreitzberg on Scotch Road.

"There is a propensity in the market at the moment to go down

the route of One Stop Shop," says Taylor. "Our message rather

is that what we do is all we do. We stay true to our mission about

high quality service. In the current market where there is a shortage

of adequately skilled people we can prosper."

A native of northeast England, where his father was a freelance

graphic

designer and his mother a civil servant and store owner, he took

business

training at the University of North Umbria, has a diploma in quantity

surveying from Reading University, and attended law school at the

University of Teeside. At 40, he is married and has four children,

one in college.

He came to Minneapolis in 1993 to help Faithful & Gould fulfill a

contract for Pillsbury, then a British company. The company’s second

American opportunity came in 1996 when it began working with the oil

industry in Houston. Merck joined Faithful & Gould’s client list

because

its UK-division was using similar services. "Our first real

contact

with them," says Taylor, "was on a project where we provided

support in three locations — New Jersey, UK, and Singapore, and

we springboarded off that project to provide additional service."

Active on the Royal Institute of Chartered Surveyors, he and another

director have opened an American branch and intend to approach a

number

of colleges to encourage them to add this specialty to the curriculum.

"It is a broad brush profession that allows you do a number of

things and travel a lot."

One difference between the UK and America, he says, is that most

Americans

in the construction business are positioned to be highly specialized.

"We come in if there is a high level concern about a possibly

unrealistic schedule — or as an independent auditor."

Taylor tries to explain why the profession of Chartered Surveyor had

a late start in America. After all, even as far back as the Great

Fire of London in the late 1600s, when Londoners were making a big

push to rebuild their churches, Chartered Surveyors were brought in

to keep the jobs within budget.

"In my experience the UK and other places have always been more

cost conscious than in America because of the shortage of money. More

clients in America now want greater value for their capital

expenditures,"

says Taylor. "Previously businesses haven’t been benchmarked on

competition in country competition and overseas competition. As global

economy spreads, more comparisons are being made between operations

in various parts of the world. That makes everyone more conscious

of what things cost."

— Barbara Fox

Faithful & Gould Inc., 100 Canal Pointe Boulevard,

Suite 212, Princeton 08540. Chris J. Taylor, senior operations

director.

609-514-0900; fax, 609-514-9888. Home page: www.fgould.com.

Top Of Page
Transit Advertising: At Age 57, a Start-Up

Stephen E. Loewenthal has opened his own transit

advertising

company at Research Park, a David versus Goliath operation, with

Loewenthal

playing David. Transit advertising includes advertisements in buses,

on the sides of buses, in bus shelters, on the walls of train

stations,

and on kiosks.

"Our main business is outside the state of New Jersey. We go after

the smaller transit advertising authorities," says Loewenthal.

His current "David-sized" clients include the transit systems

for Grand Rapids and Kalamazoo, Michigan; Attleboro, Massachusetts;

Margate, Florida; Wilmington, North Carolina; Florence, South

Carolina,

and TriRail, in Miami Beach.

He started the company two years ago in a home office, after being

vice president and general manager of a Pennsylvania-based outdoor

and transit advertising agency company, T&C Media. He has three

representatives

who are on salary plus commission, and he brokers the production of

the advertisements. "I found it to be a big profit center,"

he says. "We work with graphic artists and quote printing prices.

We find big printers out of state for less than the local merchants.

And we don’t need huge volume for a buy of from 3 to 20 buses."

One of his specialties is "wrapping," covering an entire bus

with see-through material for about $2,000 per month plus $8,000 to

produce the wrap that lasts up to two years. Two of the biggest

categories

for "wraps" are automobile dealers and local dotcoms, such

as search engines. Compared to a single ad for $200, "it’s a real

standout," says Loewenthal. "The truth is, it’s difficult

to sell the inside of the bus. Except for employment agencies,

there aren’t a lot of advertisers who target the bus rider."

Loewenthal went to evening school at Brooklyn College and is

celebrating

his 36th wedding anniversary this month; his wife, Rona, works at

Princeton Orthopedic Associates, and they have two children.

"I have recreated myself a number of times," says the

57-year-old

entrepreneur. "I was in the apparel business in operations for

many many years, but it was such a tough business, I realized

that I wasn’t having fun any more. I quit and went into real estate

to get selling experience, and I was very successful very quickly.

People had been telling me I should get into sales my whole life.

That success really launched me."

When he answered an ad in the New York Times for T&C Media, he was

offered the vice president’s position. "All my life experience

came together at one position. For the owner, I doubled the size of

the company. Then I thought, if I could do it for him, why not do

it for myself?"

Princeton Media Inc. (PMI), 258 Wall Street,

Princeton

08540. Stephen E. Loewenthal, president and CEO. 609-683-8300; fax,

609-683-9669. Home page: www.princetonmedia.com.

Top Of Page
Name Change: Veritas to Vectramed

Vectramed Inc., 100 Village Boulevard, Princeton

08540. James Pachence, president. 609-466-8712; fax, 609-720-0703.

Home page: www.vectramed.com.

James Pachence moved his biotech R&D company from shared office space

at HQ to another address within Forrestal Village. He changed the

name of the company from Veritas Medical Technologies to Vectramed

Inc. and also set up a website, www.vectramed.com. He is sharing with

Rick Maloy’s company, InsureHiTech, until he can get his own space.

The other five employees of Vectramed are working in labs at the

University

of Medicine & Dentistry of New Jersey.

"Vectra" means directional, and the name change to

"Vectramed"

reflects a new focus for the company, Pachence says. "The

technology

we have been developing is site directed drug delivery as opposed

to oral delivery or sustained drug release. It is directed to the

site of the disease itself."

Some of Pachence’s previous work had been in the sustained drug

release

field (U.S. 1, January 14, 1998). He grew up in coal mining country

in Hazleton, Pennsylvania, where his father and his brothers "had

a number of different companies. He has an undergraduate degree (Class

of 1974) and a PhD in biophysics, both from Penn. After a stint as

associate professor at Columbia Presbyterian, Pachence worked with

a small company, Helitrex, in Princeton, which later became American

Biomaterials. Then he helped put together Medi-Matrix, which then

became Integra Life Sciences. He left that firm in 1994.

Top Of Page
Stock News

Dataram Corp. (DTM), 186 Princeton-Hightstown Road,

Windsor Business Park, Box 7528, Princeton 08543-7528. Robert V.

Tarantino,

president and CEO. 609-799-0071; fax, 609-936-1369.

Dataram is shipping a product that doubles memory bandwidth over the

current product while reducing power consumption. The new Double Data

Rate (DDR) chip architecture manages to use both edges of the memory

clock for sending and receiving data. The products are DDR SDRAM DIMM

modules with capacities of 128MB and 256 MB.

Medarex (MEDX), 707 State Road, Princeton Gateway,

Suite 206, Princeton 08540. Donald L. Drakeman, president.

609-430-2880;

fax, 609-430-2850. Home page: www.medarex.com.

Data on a new Phase II clinical trial seems to indicate that a new

therapy can treat a common autoimmune disease, Idiopathic

Thrombocytopenia

Purpura. This therapy, a humanized monoclonal antibody, results from

an alliance between Medarex and Aventis Behring. About 100,000 people

in the U.S. suffer from ITP, a condition where white blood cells

destroy

platelets. Up to one-third of these patients may not react to current

treatments, but if the platelet deficiency leads to bleeding or

hemorrhage,

ITP can be life threatening.

Top Of Page
Management Moves

Princeton Family Y.M.C.A., Paul Robeson Place,

Princeton 08540. Richard F. Smith, CEO. 609-497-9622; fax,

609-497-9031.

Richard F. Smith, the new CEO of the Princeton YMCA, was most recently

the head of the Northeast Family YMCA in Pennsylvania, where he

finished

a $590,000 capital campaign and built a $1.4 million pool complex.

He also worked for YMCAs in Connecticut and Oregon. He has a degree

in commercial recreation from the University of Utah and lives in

Morrisville, Pennsylvania, with his wife; they have three children.

Smith succeeds Cecilia York, who will remain as chief financial

officer.

John Jorgensen, the previous CEO, retired in September.

Residence at Forsgate, 319 Forsgate Drive,

Jamesburg

08831. Nancy Renehan, administrator. 732-656-1000; fax, 732-656-0081.

Nancy Renehan is the new director of the Residence at Forsgate, an

assisted living facility with 125 apartments. Formerly known as Kapson

Senior Quarters, this three-story 70,000-foot facility is managed

by Hal and Bud Peskin, developers of Monroe Village, and is adjacent

to Forsgate Country Club. Renehan has been administrator of the Arbors

in Spring Lake Heights and director of human resources at a hospice

in Linden.

Top Of Page
Leaving Town

Alpha Microsystems/Support Works, 2525 Route 130,

Cranbury Plaza, Building C, Cranbury 08512. Thomas Palmisano,

647-9755.

714-957-8500. Www.alphamicro.com.

This hardware and software support center has closed and calls are

being taken from the California office. It offered telephone support

for diagnosis of unbranded products for hardware and software

problems.

Kelly Temporary Services, 1 Oxford Valley, Suite

512, Langhorne 19047. 215-702-9101; fax, 215-702-9110.

The national temporary agency closed an office at 600 Alexander Road

and calls are being taken from Langhorne.

Top Of Page
Deaths

Daniel S. Ninatoski, 62, on November 18. He was a salesman

with Morris Maple & Son Co. on Nassau Street.

William J. Garry, 88, on November 30. He was the boating

columnist for the Times of Trenton.

Kathleen Gail Miller, 58, on December 4. She was senior

assessing clerk for Lawrence Township.

J. Kenneth Dorey, 79, on December 4. He had been a

business

analyst and auditor with Western Electric and AT&T.


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