Jul. 14--Roseville-based SureWest Communications is back in Wall Street's good graces. At least by one barometer.

The local telecom company recently was added back to the Russell 3000 -- a broad-market index of Wall Street activity.

It was bumped from the index last year when its market capitalization -- the value of its outstanding shares -- fell to $140 million, just below the Russell cutoff point.

This year, its market cap actually dropped further -- to $125 million, as of May 29. But in a year of plummeting values for many other companies, SureWest lost relatively little value -- enabling it to regain its position on the Russell index for another year.

It's a significant development because most mutual fund managers can't buy a stock unless it's in the index. Last year, hundreds of funds were forced to dump their "SURW" holdings after the Russell setback.

Since the relisting, "We're seeing a big uptick in institutional ownership," says CEO Steve Oldham.

The average daily volume of shares traded has doubled -- to about 80,000, Oldham says.

The relisting also appears to have boosted the company's stock, which has increased 35 percent over the past six weeks, bringing its current market capitalization to $170 million. On Monday, SureWest stock closed at $11.90, down 8 cents, on the Nasdaq.

Hanging on

The Vic's Supermarket on Fulton Avenue may become the local grocery industry's next victim of the tough economy.

Customers say they've been told the 2-decade-old store will close in September. But owner Jack Kandola says it's not yet final.

"I'm still hoping to keep it open," he says, adding that he's asking his landlord about a rent reduction and his bank about restructuring his loan.

And if that doesn't work, Kandola reports he's been approached by "a couple people" interested in taking over the store.

Kandola acquired the Vic's market in 2007 -- and has seen revenues slide ever since as the economy worsened.

"It was just bad timing," he says.

Gone fishin'?

Out of business, after 40 years, is BJ's Fish & Chips.

A sign at the Southgate Plaza restaurant on Florin Road says, "We can no longer afford to keep the doors open."

BJ's owners couldn't be reached for comment.

Mark Perlberger, a local consultant who works with Southgate's Colorado-based owners, says he doesn't know what prompted BJ's sudden closure. But he says last month's relocation of Wal-Mart from Southgate to the nearby Florin Towne Centre hasn't been good for any of the plaza's retailers.

"We're doing all we can to bring in a new tenant (for the Wal-Mart space)," he says.

New strategy

A Roseville merger-and-acquisition firm has found a new niche during tough times: Helping troubled firms restructure.

In some cases, DCA Partners is helping the same companies that were its high-flying clients in healthier times.

"The companies that were looking to expand and make acquisitions three years ago now are just looking to survive," says managing partner Curtis Rocca.

The 13-employee company still has an active M&A business; in fact, it just hired local merger specialist Ron Crane.

And it still has a private equity fund, DCA Capital Partners.

But at least a third of its revenue comes from companies seeking help to restructure operationally or financially.

DCA's track record with its new sideline?

"I'm proud to say that not a single company we've been engaged to assist has had to close their doors," Rocca says.

Maybe Vic's Jack Kandola should give them a call.

Reach Bob Shallit at (916) 321-1049. Back columns: www.sacbee.com/shallit.

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