Arkansas Business back issues from May 2002:
Entrepreneurial spirit emerges.
May 06, 2002; ... IF ARKANSAS BUSINESS HAD A feature similar to Sports Illustrated's "Faces in the Crowd," Stuart Walker would definitely be on the page. So would Jamie Loftin and her husband, Jeffrey, and their teammate, Michael Newcity. Walker, the Loftins and Newcity are tomorrow's ...
Bank accuses LR businessman of hiding assets from creditors.(Steven W. Jones of Jones Realty Inc.)(Statistical Data Included)
May 06, 2002; ... REGIONS BANK HAS again sued Little Rock convenience store owner Steven W. Jones, saying he cooked up a scheme to place his assets out of reach of creditors. Regions already has a judgment against Jones for $443,000 plus interest, and Jones is scheduled to appear in Pulaski ...
Miller shutting down Freedom Financial: Mortgage broker making plans for used-car business at Bryant.
May 06, 2002; ... EXACTLY WHAT THE FBI WAS TRYING to find when agents raided the headquarters of Freedom Financial Services of Arkansas Inc. on March 14 is still a mystery, as is the number of other official investigations that may be under way regarding Nelson Miller's operation. What is known ...
On the lam. (Whispers).(New England International Surety Inc. and Hendrik Rienstra)(Brief Article)
May 06, 2002 ... Remember New England International Surety Inc.? That's the fly-by-night operation that underwrote millions of dollars in junk promissory notes for companies across the nation. Among its clients were Capitol Communities Corp., the largest landowner in Maumelle ...
Texas justice. (Whispers).(Hendrik Rienstra indicted)(Brief Article)
May 06, 2002 ... A Texas grand jury indicted Rienstra for first degree felony theft and security fraud in connection with his Omne SRL Inc. This bogus venture was formed with the stated purpose of renovating the former five-star Imperiale Palace Hotel in Taomina, Sicily. Rienstra even used New ...
No sale. (Whispers).(Lenders Title Co. not for sale)(Brief Article)
May 06, 2002 ... Word made the rounds recently that Lenders Title Co. of Little Rock was for sale. Apparently that's wishful thinking on the part of a would-be buyer. Mike Pryor, president and CEO of Lenders, reports stockholders have no interest in selling. Pryor adds ...
Clinical transaction. (Whispers).(office building sells)(Brief Article)
May 06, 2002 ... A 20,957-SF office building in west Little Rock changed hands in a $2 million deal. Robert B. Kennedy purchased the Park West Office Building ...
Smokes and eats. (Whispers).(Havana Joe's to open)(Brief Article)
May 06, 2002 ... Next door to Bath Junkie, in the former Arkansas Gazette Building at Third and Louisiana streets in downtown Little Rock, workers are remodeling a space that, come May 15, will be home to Havana Joe's. It will be an espresso bar that also sells ...
Washed and hung to dry. (Whispers).(Brooksher L. Banks ordered to repay Capitol Chemical and Supply Co.)(Brief Article)
May 06, 2002 ... The wash cycle may be over for a central Arkansas businessman. Brooksher L. Banks, owner of several Fashion Park Cleaners locations, had been ordered in 2000 to pay Capitol Chemical and Supply Co. of Little Rock more than $100,000 that he owed on a past-due account. After ...
Upscale home sites. (Whispers).(Brief Article)
May 06, 2002 ... A trio of estate-sized residential lots in west Little Rock sold for a combined $1 million. Terry Fleming bought the property in the Beau Vue Estates development, about a mile north of Highway 10 off Pinnacle Mountain Road. ...
Winburn tile woes continue. (Whispers).(Brief Article)
May 06, 2002 ... It just gets worse for defunct Winburn Tile Manufacturing Co. Southwestern Bell Yellow Pages Inc. of St. Louis claims the Little Rock company owes $11,280 for unpaid advertising, according to a lawsuit filed April 15 in Pulaski County Circuit Court. In July 2000, ...
More Michael trouble. (Whispers).(Anthony Wiley Michael)(Brief Article)(Statistical Data Included)
May 06, 2002 ... Anthony Wiley Michael, a controversial figure associated with several business ventures, has popped up again. Dr. David L. Harshfield said Michael defaulted on two loans totaling $58,000, according to Harshfield's complaint filed April 23 in Pulaski County Circuit Court. ...
Case of mistaken tenancy. (Whispers).
May 06, 2002 ... Sorry, no TCBY yogurt shop is opening in Little Rock's River Market District. But the realistic set for a television advertisement being shot in the LaHarpe's Landing ...
The biotech business. (Editorial).(Brief Article)(Statistical Data Included)
May 06, 2002 ... THE POTENTIAL FOR THE biotech industry in Arkansas is enormous. Some of the research being done at the University of Arkansas and at the University of Arkansas for Medical Sciences could someday make the world a much better place. We don't pretend to understand it all. We're not ...
Letter.
May 06, 2002 ... White River Response I am writing in reference to Mr. Harvey Joe Sanner's commentary "Lies and Truth," which appeared in the April 22 edition of Arkansas Business. The commentary expresses support for the White River Navigation Project, a $30 million pork-barrel ...
Inspirational. (Editor's Note).
May 06, 2002; ... ARKANSAS BUSINESS CER-tainly reported the first Governor's Award for Entrepreneurial Development business plan competition, which Arkansas Capital Corporation Group sponsored in 2001, but I don't think I was as jazzed up about it as I should have been. Maybe that's because I ...
Private foundation, publicly funded. (On Marketing).(Bill Clinton's Presidential library)(Brief Article)(Statistical Data Included)
May 06, 2002; ... THE LITTLE ROCK CITY BOARD, voting 10-0, approved donating $4 million-$5 million to the Clinton Library. They achieved this by recommending to the Arkansas Department of Economic Development that no sales and use taxes be collected on the construction. Approximately 90 percent of those ...
Chenal sale: A Look at Important Real Estate Transactions. (Real Deals).(Brief Article)(Statistical Data Included)
May 06, 2002; ... A 13-acre commercial site in west Little Rock changed hands in a $2 million deal. Chenal Land LLC, led by Tommy Lasiter, bought the property at the northeast corner of Chenal Parkway and Wellington Village Road. The deal is backed with a two-year loan of $3.1 million from Bank ...
Bank branch site: A Look at Important Real Estate Transactions. (Real Deals).(Brief Article)(Statistical Data Included)
May 06, 2002; ... A 1.67-acre commercial site in west Little Rock rang up a $686,000 deal. Superior Bank of Fort Smith purchased the land at the northeast corner of Ranch Drive and Highway 10 from FCC Tract A Partnership, led by Ed Willis. The property previously was tied to a ...
Multifamily acquisition: A Look at Important Real Estate Transactions. (Real Deals).(Brief Article)(Statistical Data Included)
May 06, 2002; ... A 12-unit apartment project in downtown Little Rock drew a $559,000 purchase price. 23 Center LLC, led by Steven "Gene" Cauley, acquired the project at 222 W. 23rd St. The seller is BLS Properties LLC, led by Shane Scott. The 0.4-acre project is financed with a ...
Heifer assembly: A Look at Important Real Estate Transactions. (Real Deals).(Brief Article)
May 06, 2002; ... A $534,000 land deal in downtown Little Rock rounded out property needed for the new Heifer Project development. Heifer Project International Inc., led by Jo Luck Wilson, bought the ...
Insulated transaction: A Look at Important Real Estate Transactions. (Real Deals).(real estate sales)(Brief Article)
May 06, 2002; ... A Sherwood commercial property is under new ownership after a $264,333 deal. Masco Contractor Services East Inc. of Fair Haven, N.J., purchased the Capitol Insulators location at 4300 Rixey Road. The seller is J&N Realty Co., led by Joseph Wilson. The 1.6-acre ...
Prospect Terrace abode: A Look at Important Real Estate Transactions. (Real Deals).
May 06, 2002; ... A remodeled 2,950-SF home in Little Rock's Prospect Terrace neighborhood sold for $564,000. North Sherwood LLC, led by Karen McBride, acquired the home from Wayne Moore Construction Co. of Little Rock. The project was backed with a ...
Chimney Rock home: A Look at Important Real Estate Transactions. (Real Deals).(house bought in Little Rock, Arkansas)(Brief Article)(Statistical Data Included)
May 06, 2002; ... A 3,709-SF home in North Little Rock's Chimney Rock neighborhood drew a $525,000 purchase price. The Ron W. Strother Revocable Trust bought the house from Ralph Foil Jr. and his wife, Frances. The deal is backed with a one-year loan of $420,000 from First State Bank ...
Financial wash: A Look at Important Real Estate Transactions. (Real Deals).(PKs Auto Spa Inc. receives loan from National Bank of Arkansas in North Little Rock)(Brief Article)(Statistical Data Included)
May 06, 2002; ... A trio of car washes was used to secure an $850,000 financial package. PKs Auto Spa Inc., led by Phillip Huffmaster, obtained the three-year loan from North Little Rock's National Bank of Arkansas. The properties include: * a 0.39-acre project at 11401 W. Markham St ....
Acord funding: A Look at Important Real Estate Transactions. (Real Deals).(Gregory Acord receives loan from GE Capital Small Business Finance Corp.)(Brief Article)(Statistical Data Included)
May 06, 2002; ... A southwest Little Rock enterprise picked up an $800,000 funding agreement. Gregory Acord received the 15-year loan from GE Capital Small Business Finance Corp. of St. Louis. The 3.9-acre Acord Packaging project at ...
Corporate one loan: A Look at Important Real Estate Transactions. (Real Deals).(Brief Article)
May 06, 2002; ... The owner of a 22,000-SF office building in west Little Rock landed a $685,000 mortgage. Corporate One LLC picked up the seven-year loan from Delta Trust & Bank of Little Rock. The ownership of the limited liability company consists of Hank Kelley and John Flake, ...
Industrial Redevelopment: A Look at Important Real Estate Transactions. (Real Deals).(Brief Article)
May 06, 2002; ... A medical packaging concern in Little Rock is expanding its new project in Little Rock with the aid of a $573,750 construction loan. Wes-Pak Inc., led by Frank Westerman Sr., secured the three-year agreement from Arvest Bank of Little Rock. ...
Optus buys Texas branch offices. (Technology & Computers).(Optus Inc. buys Active Link Communications Inc.)(Brief Article)
May 06, 2002; ... Optus Inc. of Jonesboro has bought Active Link Communications Inc. interconnect offices in Dallas and Houston. The Denver-based company's interconnect offices sell, install, network and maintain business telephone systems. The companies did nor disclose a purchase ...
Buyer to close Aermotor Conway plant. (Industry).(Aermotor Pumps Inc. bought by Sta-Rite Industries Inc.)(Brief Article)(Statistical Data Included)
May 06, 2002; ... Aermotor Pumps Inc. of Conway was bought out last week by competitor Sta-Rite Industries of Milwaukee, which plans to shut it down as soon as it can under federal regulations, according to a spokesman for Sta-Rite's parent company, Wisconsin Energy Corp., More than 100 people ...
Florida firm buys Rhodes & Associates. (Insurance).(Brown and Brown Inc. buys RAT of Oklahoma Inc., RAIInc., and Rhodes and Associates Inc.)(Brief Article)
May 06, 2002; ... Brown & Brown Inc. of Daytona Beach and Tampa, Fla., is buying Rhodes & Associates Inc., RAIInc. and RAT of Oklahoma Inc., all headquartered in Little Rock. The deal between publicly traded Brown & Brown and the related Little Rock insurance companies was effective May 1. The ...
AMC decides to stay at Conway. (Inside Business).(American Management Corp.)(Brief Article)
May 06, 2002; ... American Management Corp. has decided to stay in Conway and build a six-story office building there rather than relocate to the River Market area of downtown Little Rock. AMC, a 200-employee insurance underwriting company, had been the subject of a bidding war between the two ...
St. Vincent nurses negotiation stalls. (Health Care).(St. Vincent Health System nurses, National Labor Relations Board)(Brief Article)
May 06, 2002; ... When St. Vincent Health System learned on Wednesday that four nurses asked the National Labor Relations Board for a union decertification election, the hospital canceled a meeting that day with union officials that would have hammered out the final nurses contract. The contract ...
Wal-Mart to offer global money transfers. (Retail).(Wal-Mart Stores Inc., MoneyGram Payment Systems Inc. alliance)(Brief Article)(Statistical Data Included)
May 06, 2002; ... Wal-Mart Stores Inc. and MoneyGram Payment Systems Inc. have formed an alliance to make global money transfer services available in all Wal-Mart stores. The service, which allows anyone to send money to family and friends throughout the world, has been tested in 100 Wal-Mart ...
UALR Economic Forecast is May 15. (Economic).(University of Arkansas at Little Rock )(Brief Article)
May 06, 2002; ... The latest information on Arkansas and national economic conditions and trends will be presented May 15 at the University of Arkansas at Little Rock Economic Forecast Conference, presented by Arkansas Business. Dr. John Shelnutt of the UALR Institute for Economic Advancement ...
Coenco scores congressional chat. (Government).(Brief Article)
May 06, 2002; ... Frank Siccardi, president of Coenco Inc. at Fayetteville and Arkansas' 2002 Small Business Administration's Person of the Year, has been asked to speak before a congressional subcommittee during the May 6-8 National Small Business Week ceremonies in Washington, D.C. Congress ...
Tyson Foods Inc. (Company Reports).(second fiscal quarter earnings )(Brief Article)(Statistical Data Included)
May 06, 2002 ... Tyson Foods Inc. reported second fiscal quarter earnings of 18 cents a share, compared to a 3-cents-a-share loss in the same quarter last year. Tyson acquisition of IBP Inc. was completed Sept. 28,2001, so second quarter results include 100 percent of IBP's operations. Second quarter sales ...
Beverly Enterprises Inc. (Company Reports).(earnings for first quarter of 2002)(Brief Article)(Statistical Data Included)
May 06, 2002 ... Beverly Enterprises Inc. earned $20.5 million or 19 cents a share in the first quarter of 2002, compared to a loss of $52.3 million or 50 cents a share in the first quarter of 2001. Revenue totaled $622.9 million in the first quarter, compared to $659.9 million in the year-earlier period ....
Delta Systems Inc. (Company Reports).(2001 revenue)(Brief Article)(Statistical Data Included)
May 06, 2002 ... Delta Systems Inc., the Rogers-based motion control software company, reported 2001 revenue of $6.11 million, down 9 percent from $6.75 million in 2000. Delta's net ...
Superior Financial Corp. (Company Reports).(earnings)(Brief Article)(Statistical Data Included)
May 06, 2002 ... Superior Financial Corp. earned a record $3.8 million or 43 cents a share during the first quarter, a 38.7 percent increase over the $2.9 million or 31 ...
AgHeritage Farm Credit Services. (Company Reports).(Brief Article)(Statistical Data Included)
May 06, 2002 ... AgHeritage Farm Credit Services of Little Rock said it earned $6.0 million in 2001, compared with net income of $5.4 million the year before. The $370 million financial cooperative ...
Tyson's big purchase an exception in 2001. (NW Journal).(Brief Article)(Statistical Data Included)
May 06, 2002; ... Tyson Foods Inc.'s September acquisition of IBP Inc. was one of the few major mergers in the food industry during an economically strapped 2001. Food Institute of Elmwood Park, N.J., released its study April 17 for the previous year's meatiest deals. It tracked 516 mergers and ...
Pace to receive award from Education Foundation. (NW Journal).(Brief Article)
May 06, 2002; ... At its first "Spring Celebration of Excellence" event, which is scheduled for May 6, the Fayetteville Education Foundation plans to present its first "Apple Award" to Pace Industries Inc. of Fayetteville in recognition of years of support from the company. Treva Hamilton, ...
Mercy hires illinois man as chief operating officer. (NW Journal).(Brief Article)
May 06, 2002; ... Mercy Health System of Northwest Arkansas has hired Edward Mirzabegian to fill the newly created position of chief operating officer, Mercy president and CEO Susan Barrett said in a press release. Mirzabegian, formerly a vice president of clinical services at BroMenn Healthcare in Normal, ...
Survey shows IT field can lead to advancement. (NW Journal).(Brief Article)
May 06, 2002 ... About 53 percent of leadership positions in corporate information technology divisions are filled by existing employees, a national survey recently conducted by Robert Half International Consulting Inc. found. An IT staffing supplier, RHI is based in Menlo Park, Calif., and has ...
ASU loses $400,000 in 2nd round of budget cuts. (NE Journal).
May 06, 2002; ... In the second round of state budget cuts announced in April, Arkansas State University at Jonesboro learned it would lose another $402,000 for this fiscal year. Although the school said it was prepared for the cuts this year, next year it will have to do more belt tightening, ...
Ozarka College receives 30 acres donation. (NE Journal).(Brief Article)
May 06, 2002; ... Ozarka College of Melbourne in March received a gift of 30 acres of undeveloped land in Ash Flat for a distant learning center. First National Bank of Sharp County and a Florida man donated the land, valued at $105,000, so the two-year college could use the land for a campus, ...
Senior apartment complex will open this summer. (NE Journal).
May 06, 2002; ... A $1 million, 18-unit apartment complex for seniors and people with disabilities will open in Blytheville in July or August. The Village Oaks will feature 10 one-bedroom and eight two-bedroom apartments and a manager's unit, said Jeffrey Spencer, director of the United States ...
Dave's Place. (Business Lunch).
May 06, 2002 ... Address: 210 Center St., Little Rock 72201 Phone: (501) 372-3283 Hours: 11 a.m.-2 p.m. Monday-Friday 2001 Revenue: $106,277 LIKE ANY HOLE-IN-THE-WALL JOINT, Dave's Place had the potential to be either the worst place we had eaten or one of the ...
Arkansas Economic Development Commission. (Business Briefs).(Brief Article)
May 06, 2002 ... Niel Crowson, president and CEO of E.C. Barton and Co. at Jonesboro, has been named chairman of the Arkansas Economic Development Commission. He's been an AEDC commissioner since ...
Logistic Services Inc. (Business Briefs).(Brief Article)
May 06, 2002 ... Logistic Services Inc., which operates the terminal at the Port of Little Rock, says March tonnage was up more than 41 percent from March 2001. Tonnage was up nearly 60 percent in February. The increase is attributed to additional aggregate tonnage secured in the ...
The Arkansas Historic Preservation Program. (Business Briefs).(Brief Article)
May 06, 2002 ... The Arkansas Historic Preservation Program will accept applications for its Main Street Arkansas Model Business Grant program, which provides matching funds for ...
The Small Business Administration. (Business Briefs).(Brief Article)
May 06, 2002 ... The Small Business Administration has extended until May 22 the filing deadline for small business owners to apply for Economic Injury Disaster ...
ABF Freight System Inc. (Business Briefs).(Brief Article)
May 06, 2002 ... ABF Freight System Inc. of Fort Smith has chosen four locations to receive its President's Quality Award. They are the ABE customer service centers in Lexington, Ky.; ...
The Memphis Grizzlies, the NBA team, has announced that Jerry West. (Business Briefs).(Brief Article)
May 06, 2002 ... The Memphis Grizzlies, the NBA team, has announced that Jerry West will join the team as president of basketball operations. The former NBA Hall of Fame star and coach has been executive vice president of basketball ...
SBC Communications Inc.(SBC Excelerator)(Brief Article)
May 06, 2002 ... SBC Communications Inc. has launched SBC Excelerator, a $25 million national philanthropic initiative, to accelerate community-based organizations' programs to improve technology access, education and work force development in SBC's 13-state region (Arkansas, ...
Big Creek Golf & Country Club.(awards from Golf Digest)(Brief Article)
May 06, 2002 ... Big Creek Golf & Country Club at Mountain Home received several awards in the May issue of Golf Digest. The course was rated 4.5 out of five stars by Golf Digest's Places to Play; ...
The William J. Clinton Presidential Foundation.(at end of 2001, $20.8 million in assets)(Brief Article)
May 06, 2002 ... The William J. Clinton Presidential Foundation, which raises money for the presidential library, had $20.8 million in assets at the end of 2001 and brought in about $9.9 million ...
Murphy Oil Corp.(sells $350 million worth of coupon notes)(Brief Article)
May 06, 2002 ... Murphy Oil Corp. of El Dorado sold $350 million worth of 6.375 percent coupon notes that will mature May 1,2012. The bond is priced to yield 6.42 percent to investors. Interest is payable Nov. 1,2002, and semiannually ...
Sirius Satellite Radio.(service added in several states)(Brief Article)
May 06, 2002 ... Sirius Satellite Radio, the New York based company that broadcasts 100 channels of digital radio signals to motorists, says service is now available in Arkansas, ...
Regions Financial Corp.(buys ICT Group LLC)(Brief Article)
May 06, 2002 ... Regions Financial Corp. has bought ICT Group LLC, one of Louisiana's largest independent ...
Alltel Corp.(raises $1.25 billion from stock sale)(Brief Article)
May 06, 2002 ... Alltel Corp. raised $1.25 billion from a sale of three-year securities automatically convertible into company stock. Alltel expects to use a significant portion to finance pending purchases of Verizon Communications Inc.'s local telephone business in Kentucky and Century Tel Inc.'s ...
Bank of America finds stability in Northwest Arkansas: Bank focuses on customers and products, not its falling share of deposits.(Statistical Data Included)
May 06, 2002; ... FIVE MERGERS FROM 1982 TO 1999, a 47 percent decrease in local market share and a barrage of anti-megabank marketing by competitors can't knock the smile off Don Gibson and Larry Manry's faces. They survived the turmoil, and now life at Bank of America is all about enjoying the ...
Wal-Mart dominates state's grocery market. (List Overview).(Brief Article)(Statistical Data Included)
May 06, 2002; ... THE WORLD'S LARGEST COMpany is easily the state's largest supermarket chain, but the No. 2 grocer won't be giving up anytime soon. With 40 stores in the state, Wal-Mart Supercenters take the first position in market share at 28.55 percent. Wal-Mart's other grocery selling ...
Arkansas Business List: Largest Supermarket Chains.(Statistical Data Included)
May 06, 2002 ... <Pre> ARKANSAS BUSINESS LIST: LARGEST SUPERMARKET CHAINS Ranked by market share in Arkansas in 2001 Grocery Chain Market Share State Sales Address, Phone, Fax in State (%) (millions) 1 Wal-Mart Supercenters (*) 28.55...