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Newsbreakers

News blurbs about three businesses.

By Elizabeth Conlin | 
 

Bad Luck: In February 1989 INC. told how Dennis Chang, CEO of Jasmine Technologies, used his suppliers as a source of capital. The piece touched off a debate about supply-side financing, with some calling it dishonest; others defended it as a time-honored strategy. In March Jasmine filed Chapter 11, leaving 1,000 unsecured creditors out some $10 million.

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Name Game: Don Beaver, cofounder of New Pig Corp., wondered what to name his latest industrial cleaning products start-up, which features items like The Short Stump, an ugly football-shaped absorber for sucking up goo in filthy corners. His decision? No Brainer Products, of course.

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Banking on Adversity: Back in 1983, as large lenders retreated from Silicon Valley fearing high-tech failures, Roger V. Smith launched the Silicon Valley Bank. Seeing similar circumstances developing in another part of the country, this past May Smith opened his first bank outside California. The address: Route 128, Massachusetts.

-- Elizabeth Conlin

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