Arkansas Business back issues from May 2005:
Subpenny stock venture owns Pine Bluff Hotel: IBAC long on news, short on financial data.(Pine Bluff Convention Center Hotel)
May 02, 2005; ... EDWARD HAYTER WASN'T particularly interested in the hospitality industry. That changed when the New York investor was approached last year about helping finance the purchase of a distressed Arkansas hotel. One thing led to another, and his IBAC Corp. ended up as majority owner ...
Hospitals expecting the best: providers prepare for 'any willing provider,' whatever form it takes.(University of Arkansas for Medical Sciences)
May 02, 2005; ... R.T. FENDLEY IS WORRIED that the University of Arkansas for Medical Sciences in Little Rock will be bombarded with patients once the long-awaited "any willing provider" legislation finally goes into effect. Fendley, director of business development at the Little Rock hospital, ...
Whirlpool's fate on hold until early 2006.
May 02, 2005; ... THE 4,600 EMPLOYEES OF Whirlpool Corp. in Fort Smith have spent more than a year waiting for the other shoe to drop, and they will continue to wait for many more months. Since November 2003, executives at Whirlpool's global headquarters in Benton Harbor, Mich., have been mulling ...
Menu morsels.(Whispers)(Brief Article)
May 02, 2005 ... Remember the sale of Fort Smith's K-Mac Enterprises Inc. reported a couple months ago? Here are some more details on that deal, described as a $220 million purchase of 147 restaurants. The purchase is something akin to a sale-leaseback. GE Capital ...
Adding acreage.(Whispers)(Brief Article)
May 02, 2005 ... Upscale west Little Rock home developer Rick Ferguson added to his land holdings in a $2.4 million transaction. Ferguson, through his 2610 Acres LLC, bought more than 2,000 acres on the north side of Lake Maumelle. ...
Grocery store fizzle.(Whispers)(Hartle Foods Inc. of Ozark)(Brief Article)
May 02, 2005 ... The only asset left of Hartle Foods Inc. of Ozark is a 1997 Ford F150 with more than 265,000 miles on it. And the transmission is out to boot, leaving it with a value of $300. That might be of little comfort to the more than 60 creditors holding unsecured claims totaling ...
Fuzzy math.(Whispers)(Brief Article)
May 02, 2005 ... We recently came across something peculiar on Forbes.com. In its list of "Most Expensive ZIP Codes 2005," Little Rock's 72201 turned up 148th, sandwiched right between 95032 in Los Gatos, Calif., and New York City's 10128. What's more, the list said 72201's median home sale ...
Extending fellowship.(Whispers)(Fellowship Bible Church)(Brief Article)
May 02, 2005 ... A west Little Rock congregation expanded its holdings in a $1 million office building buy. Fellowship Bible Church ...
Calling the hogs.(Whispers)(Razorback Muffler Inc.)(Razorback Exhaust LLC)(Brief Article)
May 02, 2005 ... Two auto shops are ready to rumble in the name of the Razorbacks. Razorback Muffler Inc. of Farmington in Washington County said it has been using its name and logo of a running hog since 1980. But then Razorback Muffler officials noticed Razorback Exhaust LLC of Sherwood, which ...
Scaling back.(Whispers)(Brief Article)
May 02, 2005 ... Have you heard National Medical Health Card Systems Inc. of Port Washington, N.Y., is scaling back its Little Rock office? The company said it will outsource its Identification Card Production Division at Little Rock, which means seven or eight ...
Insurance claim.(Whispers)(QualChoice of Arkansas Inc.)(Brief Article)
May 02, 2005 ... The estate of a man who had a gastric bypass surgery has filed a lawsuit against QualChoice of Arkansas Inc. and QCA Health Plan Inc. for wrongful death. The lawsuit filed in Pulaski County Circuit Court by the estate of Eddie Stewart of Little Rock didn't say exactly when ...
Giving Wal-Mart the biz.
May 02, 2005 ... THE MARYLAND GENERAL Assembly passed legislation last month that, although aimed directly at Wal-Mart Stores Inc., should be a red flag for every business in the country. The Fair Share Health Care Act requires any private company employing more than 10,000 workers in the state ...
Love us, hate us.(Brief Article)(Editorial)
May 02, 2005 ... A NEW STUDY FROM THE University of Missouri School of Journalism in Columbia shows that Americans have somewhat of a love-hate attitude toward journalism, but it's not as bad as many portray it. The survey says most Americans believe news coverage is biased and negative, but 62 ...
Gleason's secrets.(Editor's Note)(George Gleason)
May 02, 2005; ... A FEW WEEKS AGO, A BANKER told me that he and every other banker in the state would like to read an article explaining how George Gleason manages to maintain such an amazing efficiency ratio at Bank of the Ozarks. In last week's issue, Senior Editor George Waldon attempted to ...
Marketing and change.(On Marketing)(Column)
May 02, 2005; ... THE MOST RECENT ARKANSAS Executive Summit in Little Rock was planned around a compelling issue for business leaders: change. Several speakers and expert panelists addressed the topic of environmental and organizational change from their experiences across industries. For this ...
Eye expansion.(Real Deals: A Look at Important Real Estate Transactions)(University of Arkansas for Medical Sciences)(Brief Article)
May 02, 2005; ... EYE EXPANSION: A five-story addition to the Jones Eye Center on the campus of the University of Arkansas for Medical Sciences in Little Rock weighs in at $10 million. The 55,000-SF project should be completed by ...
Retail sale.(Real Deals: A Look at Important Real Estate Transactions)(Main Dupree Arkansas Ltd.)(Cole WG Jacksonville AR LLC)(Brief Article)
May 02, 2005; ... A Walgreens project in Jacksonville rang up a $4.4 million transaction. Cole WG Jacksonville AR LLC of Phoenix bought the 1.6-acre development at 203 Dupree Drive from Main Dupree Arkansas Ltd., led by James Cox. The deal is backed with a $3.6 million loan from ...
Glenn Ridge parcel.(Real Deals: A Look at Important Real Estate Transactions)(HCA Health Services of Midwest Inc.)(Betty Jean Talley Trust)(Shirley Ann Martin Trust)(Glenn Ridge Crossing LLC)(Brief Article)
May 02, 2005; ... A 31.1-acre commercial tract was assembled in deals totaling more than $3.76 million (about $2.78 per SF). Glenn Ridge Crossing LLC of Little Rock, led by Elizabeth Small, purchased the land south of the Rave Motion Pictures project at 18 Col. Glenn Plaza Drive. The ...
Inn transaction.(Real Deals: A Look at Important Real Estate Transactions)(NLR Lodging LLC)(Liberty Bank of Arkansas)(HLC 1 Properties Ltd.)(Brief Article)
May 02, 2005; ... The sale of a 140-room motel in North Little Rock checked in at $1.5 million. NLR Lodging LLC, led by Andy Bhakta, acquired the Best Value Inn at 2508 Highway 161 from HLC 1 Properties Ltd. of Atlanta. The deal is funded with a ...
Mini purchase.(Real Deals: A Look at Important Real Estate Transactions)(Pantanal LLC)(Lawerance E. Doyle Trust)(Beverly J. Doyle Trust)(Brief Article)
May 02, 2005; ... A ministorage project in southwest Little Rock changed hands in a $1.2 million deal. The Lawerance E. Doyle Trust and Beverly J. Doyle Trust bought Access Self-Storage at 4607 Hoffman Road. The seller is Pantanal LLC, led by Arlanders Etheley. The deal is backed with ...
Agri acquisition.(Real Deals: A Look at Important Real Estate Transactions)(Brief Article)
May 02, 2005; ... Farmland in east Pulaski County tipped the scales at $930,000. Wilcox Investment Ltd., led by George and Shirley Wilcox, purchased more than 655 acres from Catherine Fulkerson Smreker. Most of the land is near the northeast corner of U.S. Highway 165 and Faulkner Lake Road. ...
Sherwood buy.(Real Deals: A Look at Important Real Estate Transactions)(Richardson Investment Corp.)(Brief Article)
May 02, 2005; ... A 2.4-acre commercial property in Sherwood is under new ownership after a $540,000 deal. Steven and Stephanie Deere acquired the Quality Nursery & Landscaping location at 9410 Highway 107 and adjoining property from Richardson Investment ...
Bank land.(Real Deals: A Look at Important Real Estate Transactions)(St. Vincent Infirmary Medical Center)(Brief Article)
May 02, 2005; ... A future bank branch site in Sherwood drew a $327,667 transaction. Pulaski Bank & Trust of Little Rock bought the 0.6-acre location at the northeast corner of Country Club Road and Wildwood Avenue from St ....
Northshore site.(Real Deals: A Look at Important Real Estate Transactions)(Henry Enterprises LLC)(Pfeifer Family Ltd. No. 1)(Brief Article)
May 02, 2005; ... A 1.6-acre commercial property in North Little Rock sold for $158,000. Henry Enterprises LLC, led by James Holland, purchased the site on Northshore Place. The seller is Pfeifer Family Ltd. No. 1, led by Eugene Pfeifer III. The property is funded with a nine-month ...
Chenal abode.(Real Deals: A Look at Important Real Estate Transactions)(Brief Article)
May 02, 2005; ... A 3,000-SF home in west Little Rock's Chenal Valley changed hands in a $535,000 deal. Grant and Christine Crabtree acquired the house from Joseph and Brenda Blankenship ....
Overbrook residence.(Real Deals: A Look at Important Real Estate Transactions)(Brief Article)
May 02, 2005; ... A 3,731-SF home in North Little Rock's Overbrook neighborhood is under new ownership after a $510,000 deal. Richard Newton Jr. and his wife, Robyn, bought the house from Johnny and Lee Goff. The deal is financed with a 30-year loan of $359,000 and a 40-year loan of ...
Spring mortgage.(Real Deals: A Look at Important Real Estate Transactions)(No. 1 Spring Street Building Ltd.)(Brief Article)
May 02, 2005; ... The owner of an office building in downtown Little Rock landed a $2 million funding agreement. No. 1 Spring Street Building Ltd., led by Charles Penix and Joe Hillar, obtained the five-year loan from Regions Bank. The 0.4-acre development ...
Steak financing.(Real Deals: A Look at Important Real Estate Transactions)(Liberty Bank of Arkansas)(Hand Cut Steaks of Lakewood Inc.)(Lakewood Village Shopping Park LLC)(Brief Article)
May 02, 2005; ... The owner of a North Little Rock eatery picked up a $2.2 million financial package. Hand Cut Steaks of Lakewood Inc., led by Robert Fain, received the five-year loan from Liberty Bank of Arkansas. The location is leased from Lakewood Village Shopping Park LLC, led by ...
FDIC clears way for Signature Bank.(BANKING & FINANCE)(Federal Deposit Insurance Corp.)(Signature Bank of Arkansas)(Brief Article)
May 02, 2005; ... The Federal Deposit Insurance Corp. gave final clearance last week for Signature Bank of Arkansas to open in Fayetteville, Chairman and CEO Gary Head announced. The Arkansas State Bank Commission and the Federal Reserve had already given their approval. "We are ...
Garrison Financial Corp. acquires New Jersey firm.(Inside Business)(Tahoe Advisors LLC)(Brief Article)
May 02, 2005; ... Garrison Financial Corp. of Fayetteville has acquired Tahoe Advisors LLC of Englewood Cliffs, N.J. Tahoe is a Securities & Exchange Commission-registered investment adviser. According to documents filed with the SEC in May 2003, Tahoe had discretionary management of one account ...
Venture Conference slated for May 17-18.(Inside Business)
May 02, 2005; ... The fourth annual Arkansas Venture Conference is scheduled for May 17-18 at The Peabody Little Rock. "This conference is a terrific way for Arkansas' rural and urban entrepreneurs to find ways to their match ideas with money for their projects," said Mike Smith Jr. of Little ...
Simmons First National Bank to add two branches.(Inside Business)(Brief Article)
May 02, 2005; ... Simmons First National Bank of Pine Bluff will add two new branches in northwest Arkansas. Simmons will have a branch at 902 Fayetteville Road in Van Buren and in Mill Creek Plaza at 2305 S. Zero in Fort Smith. "We are extremely pleased to commence the expansion and ...
Murphy Oil 1st quarter earnings up 15 percent.(Public Company Reports)
May 02, 2005 ... Murphy Oil Corp. said first quarter net income was up 15.3 percent to $113.2 million or $1.20 a share, compared with $98.2 million or $1.05 a share in the first quarter of 2004. Net income in last year's first quarter, however, included income from discontinued operations of ...
P.A.M. Transportation income jumps 45 percent.(Public Company Reports)(Brief Article)
May 02, 2005 ... P.A.M. Transportation Services Inc. of Tontitown said first-quarter net income rose 45 percent to $2.9 million, or 26 cents a share, compared with $2 million, or 18 cents a share, for the same quarter in 2004. Operating revenue, before fuel surcharges, was $80.1 million, up 3.1 ...
J.B. Hunt stock splits; company to buy back shares.(Public Company Reports)
May 02, 2005 ... J.B. Hunt Transport Services Inc. has announced a two-for-one stock split on its common stock. The split is payable May 23 to shareholders of record as of May 2. The company also said it will make up to $500 million in additional common stock repurchases over the next ...
Arkansas Best Corp. 1Q earnings soars 133 percent.(Public Company Reports)
May 02, 2005 ... Arkansas Best Corp. said its 2005 first-quarter net income rose 133 percent to $10.5 million, up from $4.5 million for the same period a year earlier. The trucking and transportation company said the income resulted in earnings per share of 41 cents, up from 18 cents a share a ...
First Federal income rises 12 percent in 1Q.(Public Company Reports)(Brief Article)
May 02, 2005 ... First Federal Bancshares of Arkansas Inc. of Harrison, the holding company for First Federal Bank of Arkansas, said first-quarter net income was up 12 percent to $2 million, or 37 cents a share, compared with $1.8 million, or 34 cents a share, for the first quarter of 2004. The ...
M&P Bancshares income up 4.7 percent.(Income Business)(M&P Community Bancshares Inc. )(Brief Article)
May 02, 2005; ... M&P Community Bancshares Inc. of Newport said net income was up 4.7 percent for 2004 and earnings per share were up significantly from 2003. "Remaining an independent community bank is the goal of our management and board of directors," Jim S. Gowen, chairman and CEO, said at ...
Dillard's execs get $1.8 million bonuses.(RETAIL)
May 02, 2005; ... Executives at Dillard's Inc. took no raises in 2004, but all five of the company's top executives received bonuses, according to the company's proxy statement filed with the Securities & Exchange Commission. CEO William Dillard II and President Alex Dillard each received a $1.8 ...
ThermoEnergy inks $7m deal for wastewater plant.(TECHNOLOGY & COMPUTERS)
May 02, 2005; ... After 17 years with no revenue, ThermoEnergy Corp., the Little Rock wastewater technology company, has signed a $7 million trial contract to use its own ammonia-removal technology at a New York City wastewater treatment plant, according to various news reports. Last week, the ...
Little Rock pays to Land Nature Center.(TOURISM)
May 02, 2005; ... The long and winding tale of the $7 million Arkansas Game & Fish Commission Nature Center finally has an ending. The fourth and final site has ultimately won approval, which means the facility will be built in Little Rock's Riverfront Park. Game & Fish spokesman Keith ...
Garrison Financial Corp. acquires New Jersey firm.(NW Journal: A Look at News From Northwest Arkansas)(Tahoe Advisors LLC)(Brief Article)
May 02, 2005; ... Garrison Financial Corp. of Fayetteville announced it has acquired Tahoe Advisors LLC of Englewood Cliffs, N.J. Tahoe is a Securities & Exchange Commission-registered investment adviser. According to documents filed with the SEC as of May 2003, Tahoe had discretionary management ...
Pak plans new $3.5M Fayetteville Shogun.(NW Journal: A Look at News From Northwest Arkansas)(Brief Article)
May 02, 2005; ... John Pak, the owner of three Shogun Steak House restaurants in northwest Arkansas, plans to build a new 10,000-SF, $3.5 million Shogun near Fayetteville's Northwest Arkansas Mall. The new restaurant will replace one Pak currently operates in leased space in the nearby Spring ...
Gray Matters moving to Springdale space.(NW Journal: A Look at News From Northwest Arkansas)(Brief Article)
May 02, 2005 ... Gray Matters LLC, the parent company of Northwest Arkansas Business Journal and four other niche publications, is moving from Fayetteville to Springdale. Gray Matters also owns the Northwest Arkansas Family, Northwest Arkansas Newcomers Guide, Northwest Arkansas Guest Guide and ...
P.F. Chang's slated for Rogers' Promenade.(NW Journal: A Look at News From Northwest Arkansas)(Brief Article)
May 02, 2005 ... P.F. Chang's China Bistro is slated to put a store in Rogers' Pinnacle Hills Promenade development. The Pinnacle Group, which is developing the 980,000-SF Promenade with General Growth Partners Inc., declined to comment on any potential tenants. The Pinnacle Hills Promenade will ...
Sharp County Hospital sale collapses.(NE Journal: A Look at News From Northeast Arkansas)(Eastern Ozark Regional Health System)(Sharp Medical Foundation)
May 02, 2005; ... The Sharp Medical Foundation said its proposed purchase of the Eastern Ozark Regional Health System in Cherokee Village has collapsed. The Sharp Medical Foundation had offered to buy the closed 40-bed Eastern Ozark for $4 million. But the cost to reopen the hospital quickly ...
Frito-Lay adding space, 100 jobs to Jonesboro plant.(NE Journal: A Look at News From Northeast Arkansas)(Brief Article)
May 02, 2005; ... Frito-Lay North America said it will add about 100 jobs to its Jonesboro plant. "The jobs won't happen all at once," said Frito-Lay spokesman Charles Nicolas. "It will be gradual." Nicolas didn't say when the plant will start hiring workers. Frito-Lay also will be ...
Arkansas State cuts 35 positions.(NE Journal: A Look at News From Northeast Arkansas)(Brief Article)
May 02, 2005; ... Arkansas State University at Jonesboro recently announced it will cut 35 positions effective July 1. ASU's president, Les Wyatt, said the university was hoping to receive $11 million from the Arkansas General Assembly, and instead it received $1.78 million, according to an ASU ...
Mayor's letter.
May 02, 2005; ... Fort Smith has never been a quiet, sleepy little border town. And the first five years of the new century are no exception. Dramatic and sweeping changes have occurred along the historic downtown corridor of Garrison Avenue and along the riverfront. Fort Smith has a new regional airport ...
Chamber's 'Together' campaign nets $4.45 million.
May 02, 2005 ... If money talks, the Fort Smith area is ready to shout. Business and community leaders from throughout western Arkansas and eastern Oklahoma recently gathered to announce that $4.45 million had been raised to fund "Together Jobs for the River Valley," a stepped-up regional economic ...
Strategy calls for building a city of neighborhoods.
May 02, 2005 ... Building a strong sense of community and capitalizing on Fort Smiths rich history and Arkansas River are crucial components of the comprehensive plan enacted by the city of Fort Smith's board of directors. The document is a vision, as well as a step-by-step process for creating a City of ...
The business of Fort Smith's heritage.
May 02, 2005 ... Fort Smith's past provides more than an identity and a unique quality of place--the city's history is an industry. Last year visitors to Sebastian County spent more than $44 million--an increase of 6 percent from the previous year. The Arkansas Department of Parks & Tourism reports that ...
Growth validates decision to turn UA-Fort Smith into four-year institution.(University of Arkansas)
May 02, 2005 ... Early May is still a "Field of Dreams" season for most major league baseball fans who believe "if you build it, they will come." The premise of the 1989 movie starring Kevin Costner was built on the philosophy that creating the supply would spur demand for the infrastructure. ...
Achieving critical mass in downtown Fort Smith.
May 02, 2005 ... Across the nation, more communities are returning to their downtown roots. While Amelia's suburbs are built around the "more is worse" principle, downtown dwellers are attracted to an environment of "more is better." A recent Brookings Institute Research Brief calls this ...
Cytomedix Inc., the Little Rock biotechnology company, says Medtronic Inc. has agreed to settle a patent dispute and has been granted a license for its key Knighton patent for all applications of its autologous platelet releasate therapy.(Business Briefs)
May 02, 2005 ... Cytomedix Inc., the Little Rock biotechnology company, says Medtronic Inc. has agreed to settle a patent dispute and has been granted a license for its key Knighton patent for all ...
DaySpring Cards Inc.. will build a new two-story, 40,000-SF, $5 million headquarters near its current offices at Siloam Springs.(Business Briefs)(Brief Article)
May 02, 2005 ... DaySpring Cards Inc. will build a new two-story, 40,000-SF, $5 million headquarters near its current offices at Siloam Springs. The subsidiary of Hallmark ...
Creative Foods LLC.(Business Briefs)(Brief Article)
May 02, 2005 ... Creative Foods LLC of Blytheville and Osceola is planning a new plant expansion that will create 80 new jobs. The Mississippi County ...
The Kohler Co.(Business Briefs)(Brief Article)
May 02, 2005 ... The Kohler Co. has laid off 63 workers at its Searcy sink plant. In January, company cutbacks forced Kohler to cut 72 workers at ...
Wal-Mart Stores Inc.(Business Briefs)(Brief Article)
May 02, 2005 ... Wal-Mart Stores Inc. will move many nonprescription cold and allergy medications behind pharmacy counters by June because the products include ...
Wal-Mart.(Business Briefs)(Brief Article)
May 02, 2005 ... Wal-Mart has hunched a new online custom CD service at www.walmart.com/music. The new no-download-required music service allows customers to select individual songs ...
The Arkansas Department of Correction has teamed up with the Information Network of Arkansas to offer a new service that makes it easier for family and friends to send money to prisoners.(Business Briefs)(Brief Article)
May 02, 2005 ... The Arkansas Department of Correction has teamed up with the Information Network of Arkansas to offer a new service that makes it easier for family and friends to send money to prisoners. The new secure system, available through the state's ...
Enrollment in nursing courses at University at Searcy increased 20 percent in 2004, from 325 to 410 students.(Business Briefs)(Brief Article)
May 02, 2005 ... Enrollment in nursing courses at University at Searcy increased 20 percent in 2004, from 325 to 410 students. Nationwide, the American Association ...
Robert McCord, longtime Arkansas journalist, will present "Arkansas Autobiographies: Robert McCord and Arkansas Journalism, Yesterday and Today," at noon Wednesday at the Main Library in downtown Little Rock.(Business Briefs)(Brief Article)
May 02, 2005 ... Robert McCord, longtime Arkansas journalist, will present "Arkansas Autobiographies: Robert McCord and Arkansas Journalism, Yesterday and Today," at noon Wednesday at the Main Library in downtown Little ...
The Breakthrough Solutions Conference will be held May 2 at the Clinton Presidential Library in Little Rock.(Business Briefs)
May 02, 2005 ... The Breakthrough Solutions Conference will be held May 2 at the Clinton Presidential Library in Little Rock. Sponsored by VisionWorks, a program of the University of Arkansas Cooperative Extension Service, the conference will focus on Arkansas ...
Unilever Best Foods, the makers of Skippy Peanut Butter in Little Rock, has joined forces with Arkansas Rice Depot.(Business Briefs)(Brief Article)
May 02, 2005 ... Unilever Best Foods, the makers of Skippy Peanut Butter in Little Rock, has joined forces with Arkansas Rice Depot to support its hunger relief programs. Unilever executives toured ...