David: Doug is right. You'll need to work with Rich Text objects in order to get boldfaced items in the middle. All the other posts about concatenating things together won't solve your problem with the bold face. And unless something has changed, labels in 7.x no longer automatically close up blank space in labels like older versions did.
Karen > David - I did a similar directory some time ago and Sami Aaron gave me > some great tips that got me started. > Here's her email from a few years ago:

