Arkansas Business articles from August 2007

Arkansas Business archives from August 2007

Holy uses for ghostly properties: churches bring new life to shopping centers, retail sites.(COMMERCIAL Real Estate)
August 6, 2007... FOR MARK DEYMAZ, SPENDING TENS of millions of dollars to construct a fancy mega-church at a high-profile location simply doesn't make a whole lot of sense, even if the money is readily available. And though there are plenty of highly...

Real estate projects gone bad leave NWA banks on the hook.(COMMERCIAL Real Estate)
August 6, 2007... IN THE 1990S, ROBERT ABERCROMBIE HAD some difficulty securing construction loans to build homes in northwest Arkansas. But by 2001 and in 2002, banks were becoming more and more eager to lend him--and several other homebuilders--money....

Jonesboro's Indian mall marked for sale builder of Rival Mall at Turtle Creek expresses interest.(COMMERCIAL Real Estate)
August 6, 2007... IN 1967, JONESBORO'S INDIAN MALL WAS in a race to claim bragging rights as the first mall developed in Arkansas. Forty years later, the 378,000-SF project is relegated to the status of a ghost center, a shadow of its former status as the...

Medical testing.(Whispers)
August 6, 2007... We're hearing Little Rock businessman Jennings Osborne is frustrated with the way his Arkansas Research Medical Testing Inc. has turned out since he sold it in 2004. When Research Solutions LLC of Little Rock bought ARMT for a reported $20...

We're just sayin'.(Whispers)(stock prices of Maverick Oil & Gas Inc., Chesapeake Energy Corp. and Southwestern Energy Co.)(Financial report)(Brief article)
August 6, 2007... The price of stock in Maverick Oil & Gas Inc., a Fort Lauderdale, Fla., company exploring the Fayetteville Shale Play in north-central Arkansas, bottomed out last week at 2 cents. And the company told the Securities & Exchange Commission...

Say Whatta-Burger?(Whispers)(Feltners Whatta-Burger )(Brief article)
August 6, 2007... Let's just say right up front that it's not a done deal, so as not to send the folksy Arkansas eatery crowd into a tizzy. But we hear that Feltner's Whatta-Burger in Russellville, a nationally known burger institution and an Arkansas...

Hold it steady.(Whispers)(Brief article)
August 6, 2007... Anyone who's walked by the renovation project of two old River Market buildings in the last several months can see that there have been some issues restoring both of the old structures. First there was the presence of the cross-cables...

Boulevard of dreams.(Whispers)
August 6, 2007... We heard about a handful of possible developments along Maumelle Boulevard that could be in the works, though no one is talking. The four-lane (two in, two out) boulevard is divided up between the city limits of North Little Rock and...

The journal.(Editorial)
August 6, 2007... RUPERT MURDOCH'S NEWS Corp. has won control of Dow Jones & Co., including its flagship publication, The Wall Street Journal. No doubt it's a good financial deal for both the buyer and sellers. No one questions the generosity of Murdoch's $5...

Jack Fleischauer.(Editorial)
August 6, 2007... JOHN IDEN "JACK" FLEISCHAUER Jr. was one of Arkansas' best--and most admired--banking executives. He died July 26 at the age of only 58 after a battle with cancer. Before the disease that claimed his life forced his retirement earlier this...

Be careful what you ask for.(Editorial)
August 6, 2007... JUST WHEN WE THOUGHT IT was safe to go in to ask the boss for a raise comes a disturbing story out of Georgia of the car dealer who killed two employees because they kept asking for pay increases. Police in East Point, Ga., just outside...

What's next, a new state name?(Commentary)(The state Department of Education )
August 6, 2007... THE ISSUE OF TEACHING ARKANSAS history in public schools just will not go away. Instruction began in the late 19th century and continued until after World War II. In the 1970s, as efforts began to reverse a half-century of state decline and...

Norphlet Chemical to begin production in Union Co.(MANUFACTURING)
August 6, 2007... Norphlet Chemical Inc. said it plans to begin production this week at a chemical manufacturing plant near El Dorado. The company said it will invest $14 million in the new facility, which will employ 44 people at an average hourly wage of...

Jonesboro plant to work contract for Army.(MANUFACTURING)
August 6, 2007... Bates Footwear, a division of Wolverine World Wide of Rockford, Mich., will make advanced chemical and biological protective overboots for the U.S. Special Forces under a new $2.45 million government contract. The company said it will make...

ADEQ withdraws draft of water storage permit.(ENERGY)(Arkansas Department of Environmental Quality)(www.adeq.state.ar.us)
August 6, 2007... The Arkansas Department of Environmental Quality has withdrawn the original draft of a new permit that would hold gas companies drilling in the Fayetteville Shale Play to stricter guidelines for water storage at drilling sites. ADEQ said...

Alltel reports 54% drop in 2nd-quarter income.(Public Reports)(Financial report)
August 6, 2007... Alltel Corp. posted a 54 percent drop in second-quarter income compared with a year earlier, when it benefited from the spinoff of Windstream Corp. and other income from discontinued operations. The company recorded net income of $195.7...

Acxiom files annual report, lists executive compensation.(Public Reports)
August 6, 2007... Acxiom Corp., in its annual report filed with the Securities & Exchange Commission for its fiscal year that ended March 31, outlines the proposed merger that will take the company private and also gives a report on executive compensation. ...

AERT turns to loss in second quarter.(Public Reports)(Financial report)
August 6, 2007... Advanced Environmental Recycling Technologies Inc. of Springdale posted a net loss in the second quarter of $383,919, or 1 cent a share, compared with net income of $1.7 million, or 4 cents a share, for the same period of 2006. Sales were...

Tyson Foods 3Q sales increase 9.3 percent.(Public Reports)(Financial report)
August 6, 2007... Tyson Foods Inc. reported third-quarter net income of $111 million, or 31 cents a share, compared with a net loss of $52 million, or 15 cents a share, in the prior third quarter. Sales for the third quarter were up from $6.4 billion in the...

First Federal earnings down 35 percent in 2Q.(Public Reports)
August 6, 2007... First Federal Bancshares of Arkansas Inc. reported net income of $1.5 million, or 32 cents a share, for the second quartet; down 35 percent compared with $2.3 million, or 44 cents a share, for the same period last year. The Harrison...

Murphy Oil Corp.(Public Reports)
August 6, 2007... Murphy Oil Corp. declared a quarterly dividend of $0.1875 a share, or $0.75 a share on an annualized basis, payable Sept. 3 to shareholders of record Aug. 15.

Entergy Arkansas buys Louisiana power plant.(ENERGY)
August 6, 2007... Entergy Arkansas Inc. has bought a 789-megawatt power plant from Ouachita Power LLC, an indirect subsidiary of Cogentrix Energy Inc. Entergy Arkansas spokesman Dan Daugherty said the purchase price is about $210 million. The company also...

State revenue collections continue to beat forecast.(ENERGY)(Arkansas Department of Finance & Administration)(Financial report)(Brief article)
August 6, 2007... The Arkansas Department of Finance & Administration's first revenue report of the new fiscal year showed net available general revenue for July reached $351.6 million, $26.8 million, or 7.1 percent, below this point last year and $11.1 million,...

New pro football team signs war memorial deal.(SPORTS BUSINESS)
August 6, 2007... The All-American Football League announced an agreement last week with War Memorial Stadium in Little Rock to serve as home field for an Arkansas team in the new league. The announcement was made by Keenan Davis, vice president of football...

Aisle Think partners with California facilities.(NW Journal: A Look at News From Northwest Arkansas)(Brief article)
August 6, 2007... Aisle Think, a marketing and packaging design firm in Rogers, has expanded its capabilities by forming strategic partnerships with facilities totaling 170,000 SF located near the vital Port of Long Beach in southern California. The...

Risk management group holds inaugural meeting.(NW Journal: A Look at News From Northwest Arkansas)
August 6, 2007... The newly formed northwest Arkansas chapter of the Risk Management Association held its first meeting on July 18. About 80 bankers attended the luncheon held at the Cosmopolitan Hotel in Fayetteville. Bill Scholl, president of First...

Keystone Crossing complex purchased for $21.6 million.(NW Journal: A Look at News From Northwest Arkansas)
August 6, 2007... Douglas Rippeto, through his Juniper Investment Group Ltd. of Bellaire, Texas, recently purchased the Keystone Crossing apartment complex from Gary Combs of Springdale for $21.6 million, or about $60 per SF. David Fisher, with Warner Smith...

Arkansas State Police Online Criminal Background Check System.(Business Briefs)(Brief article)
August 6, 2007... Recent legislation now gives third parties and service providers access to the Arkansas State Police Online Criminal Background Check System with the consent of the subject. Previously, state law limited system access to professional licensing...

The Arkansas Department of Parks & Tourism has launched its newly redesigned Web site, www.arkansasstateparks.com.(Business Briefs)(Website overview)
August 6, 2007... The Arkansas Department of Parks & Tourism has launched its newly redesigned Web site, www. arkansasstateparks.com. The site was designed by Aristotle Internet of Little Rock. Research shows that more than two-thirds of active travelers use the...

Advanced Environmental Recycling Technologies Inc.(Business Briefs)
August 6, 2007... Advanced Environmental Recycling Technologies Inc. of Springdale has reached a settlement with Lloyd's of London to resolve litigation that arose in early 2005 over losses from a fire in 2003. Under the settlement, Lloyd's agreed to pay AERT...

University of Arkansas.(Business Briefs)(appointment of Jane Wayland )(Brief article)
August 6, 2007... Jane Wayland has been named the interim dean of the University of Arkansas at Little Rock's College of Business. She replaces Hugh Sherman, who resigned to take a position at Ohio University. Wayland came to UALR as associate dean of academic...

J.B. Hunt Transport Services Inc. has chosen Best Doctors Inc. for its employees who have elected J.B. Hunt health coverage.(Business Briefs)
August 6, 2007... J.B. Hunt Transport Services Inc. has chosen Best Doctors Inc. for its employees who have elected J.B. Hunt health coverage. Best Doctors serves more than 260 insurers, employers and health plans. J.B. Hunt employees can access Best Doctors to...

Technisource Inc., the Little Rock information technology service provider, has been rehired by Beckett Media LP of Dallas, a publisher of sports and specialty market collectible platforms in the United States, for information technology management services for the next three years.(Business Briefs)
August 6, 2007... Technisource Inc., the Little Rock information technology service provider, has been rehired by Beckett Media LP of Dallas, a publisher of sports and specialty market collectible platforms in the United States, for information technology...

Pulaski Bank & Trust Co.(Business Briefs)
August 6, 2007... Jerry Vascocu has been named central Arkansas market president for Pulaski Bank & Trust Co. The Ruston, La., native has more than 12 years of banking experience, most recently as senior vice president, commercial team leader for IberiaBank in...

J.B. Hunt Transport Services Inc. has received Target Corp.'s 2006 Domestic Carrier of the Year award.(Business Briefs)
August 6, 2007... J.B. Hunt Transport Services Inc. has received Target Corp.'s 2006 Domestic Carrier of the Year award. Target noted J.B. Hunt's ability to assist with peak season planning, surge capacity and ability to execute via multiple transportation modes...

St. Joseph's Mercy Health Center.(Business Briefs)
August 6, 2007... Timothy J. Johnsen will take over as president and CEO of St. Joseph's Mercy Health Center at Hot Springs on Jan. 1 after the planned retirement of Randy Fale. Johnsen is currently the hospital's executive vice president and chief operating...

Bank of America Corp.(Business Briefs)
August 6, 2007... Bank of America Corp. has increased automated teller machine fees at its banking centers and in-store locations for non-customers to $3 in most U.S. markets. BOA has 17,000 ATMs nationwide. The fee does not apply to BOA customers, nor will the...

Arkansas State University.(Business Briefs)
August 6, 2007... The Arkansas State University Biofuels Research Program secured $1.5 million in funding with the passage of the House Energy and Water Appropriations Bill. The ASU program aims to create technologies that make the production of cellulosic...

American Electric Power's Southwestern Electric Power Co. has begun operation of its new $131 million Harry D. Mattison Power Plant at Tontitown.(Business Briefs)
August 6, 2007... American Electric Power's Southwestern Electric Power Co. has begun operation of its new $131 million Harry D. Mattison Power Plant at Tontitown. For service this summer, the two simple-cycle, natural-gas combustion turbine units have an...

Tyson Foods Inc.(Business Briefs)
August 6, 2007... Tyson Foods Inc. has launched a new interactive Web site to promote the company's "all natural" fresh chicken product. Called the "Improv-o-Gram," available at www.cluckhere.com, the site allows people to create and send personalized video...

Crew delivers trendy decor but food that disappoints.(Crew Restaurant)
August 6, 2007... THE EDGY, MODERN DECOR of Crew Restaurant elevated expectations to a standard the food couldn't deliver. One diner, renowned for his hearty appetite, didn't even finish his meal. Seating was a bit cramped. With the exception of a few...

New lodging options in northwest Arkansas offer suite stays.(COMMERCIAL Real Estate)
August 6, 2007... ALONG WITH THE DRAMATIC rise in business travelers headed or northwest Arkansas in recent years has come a demand for more lodging. Developers are trying to keep up with the need for more rooms, but the point at which the market could become...

NWA able to absorb more hotel rooms.(Commentary)
August 6, 2007... WHEN GRADING THE OVER-commercial real estate market in northwest Arkansas, the grade assigned by Streetsmart Data Services for the first quarter of 2007 was a "B." This was primarily due to the professional office sector, which showed increased...

Mixed-use facility planned for downtown Conway.(Notes)
August 6, 2007... Satterfield Station LLC recently unveiled the latest development to revitalize downtown Conway. The development plans to transform the old Satterfield service station, built in the 1920s at Front and Prairie streets, into a...

Frullati Cafe reopens at Park Plaza Mall.(Notes)
August 6, 2007... Frullati Cafe has reopened in the food court of Park Plaza Mall in Little Rock. As part of the mall's recent renovation and the re-merchandising of the food court and first level, Frullati Cafe is now on the west end of the food court near...

Maumelle City offices fill old retail space.(COMMERCIAL Real Estate)
August 6, 2007... ASIDE FROM CHURCHES, THERE ARE PLENTY of other noncommercial organizations finding abandoned former retail spaces and calling them home. A shining example is the city of Maumelle, which has gradually acquired an entire former retail-intensive...

Developer Terminella, Metropolitan Bank face off.(COMMERCIAL Real Estate)
August 6, 2007... METROPOLITAN NATIONAL Bank and Tom Terminella are headed for a showdown in court and the stakes couldn't be higher. The slowdown in the northwest Arkansas real estate market has produced a slew of bankruptcies, foreclosures, lawsuits and...

CCIMs master the skills of the commercial deal.(COMMERCIAL Real Estate)
August 6, 2007... NEARLY 40 YEARS AFTER THE designation was first conferred, Arkansas has only 66 CCIMs--Certified Commercial Investment Members--specializing in crafting commercial and investment deals. There's a good reason for that, CCIMs say: Earning the...

Commercial property management firms.(COMMERCIAL Real Estate)
August 6, 2007... Commercial Property Management Firms Ranked by gross square feet of office, retail and warehouse space managed Firm Address, Phone, Fax, Web site Gross SF Key Contact 1 Colliers Dickson 10,361,004...

Doodle King Pet Waste Removal Service LLC.(New Businesses: A Listing of Business Start-Ups in Arkansas)
August 6, 2007... Owner: Jason and Diana Brown Address: 2513 McCain Blvd., P.M.B. 263, North Little Rock 72116 Phone: (501) 690-9860 Hours: Mon.-Sat., 7 a.m.-7 p.m. Start-up: April 5, 2007 E-mail: contact@doodieking.com Web site:...

VIP Taxi & Pet Sitting Services of Little Rock.(New Businesses: A Listing of Business Start-Ups in Arkansas)
August 6, 2007... Owner: Dave Hankins Phone: (501) 246-4892 Hours: Mon.-Sat.: 8 a.m.-5 p.m. Start-up: June 25 Web site: www.petsittersweb.com/vip As an animal lover, Dave Hankins worried about leaving his pets alone when he traveled, and...

Calendar.(Calendar)
August 6, 2007... August * 6--Client Orientation Time: 3-4 p.m. Location: Arkansas Procurement Assistance Center, 127 W. Fifth St., Malvern Fee: Free For more information, call (501)337-5355 * 7--Association of Fundraising...

Hudson Cisne & Co. LLP.(ACCOUNTING)
August 6, 2007... Rachel R. Kenny has been hired by Hudson Cisne & Co. LLP of Little Rock. Kenny will work in the areas of audit and tax.

Heiko Mueller has joined the Fayetteville office.(ARCHITECTURE)
August 6, 2007... Heiko Mueller has joined the Fayetteville office of Polk Stanley Rowland Curzon Porter Architects Ltd.

Johnathan Opitz of Williams and Dean Architects of Little Rock and Patty Opitz of Polk Stanley Rowland Curzon Porter Architects of Little Rock have won the Emerging Green Builders Design competition.(ARCHITECTURE)
August 6, 2007... Johnathan Opitz of Williams and Dean Architects of Little Rock and Patty Opitz of Polk Stanley Rowland Curzon Porter Architects of Little Rock have won the Emerging Green Builders Design competition sponsored by the Arkansas chapter of the U.S....

Randall Palculict.(ARCHITECTURE)
August 6, 2007... Randall Palculict of Jackson Brown King Architects of Little Rock has completed all divisions of the architectural registration exam. Palculict will serve as a project manager and designer.

Stewart Title of Arkansas Inc.(BUSINESS SERVICES)
August 6, 2007... Carla A. Gaddy has been promoted to central Arkansas division vice president and title plant manager of Stewart Title of Arkansas Inc. of Little Rock.

Bank of the Ozarks.(BUSINESS SERVICES)
August 6, 2007... George J. Schaefer has been promoted to assistant vice president and central Arkansas sales manager of the mortgage division of Bank of the Ozarks of Little Rock.

University of Central Arkansas.(EDUCATION)
August 6, 2007... Bart Shaw of Conway has been named the new director of development for the College of Business of the University of Central Arkansas at Conway. Carter Walker of Conway has been named the director of development for the College of Natural...

Allan Engineering Corp.(ENGINEERING)
August 6, 2007... J. Dewayne Allen has been named chief executive officer and chairman of the board of Allan Engineering Corp. of Paragould. Jay M. Allen has been promoted to president and Scott Sugg has been made vice president of operations.

Community First Bank.(FINANCIAL SERVICES)
August 6, 2007... Tammy Bullock has been promoted to senior vice president/operations manager of Community First Bank of Eureka Springs. Jay Ertel was promoted to senior vice president/loan manager at the Eureka Springs location, and Donna Hodge was promoted to...

First Community Bank.(FINANCIAL SERVICES)
August 6, 2007... Fred Holzhauer has been hired as vice president of commercial lending by First Community Bank at the Highland location in Sharp County. Deloris Lindsey has been named vice president and manager of the location.

Elk Horn Bank.(FINANCIAL SERVICES)
August 6, 2007... Bill Wright has been named chief executive officer and chairman of the board of directors of Elk Horn Bank of Arkadelphia. Alan Sing was promoted to president and chief operating officer of Elk Horn Bank.

Bank of Little Rock.(FINANCIAL SERVICES)
August 6, 2007... Lynne Conner has been named branch manager of Bank of Little Rock's Rahling Road branch.

American Hospital Association.(HEALTH CARE)
August 6, 2007... Brian Cotten, director of construction management at the University of Arkansas for Medical Sciences at Little Rock, has been designated a certified health care facility manager by the American Hospital Association.

AcademyHealth.(HEALTH CARE)
August 6, 2007... Dr. Joseph Thompson, the Arkansas surgeon general and an associate professor of the colleges of medicine and public health at the University of Arkansas for Medical Sciences at Little Rock, has been appointed to the board of directors of...

Stock summary.
August 6, 2007... Stock Summary 8/2/2007 Weekly YTD Arkansas Public Company Stocks Close Change Change Acxiom Corp. (AOXM) 25.33 3.09% -1.29%...

KO punch.(Whispers)(J&J Sports Productions Inc)(Brief article)
August 6, 2007... It was two years ago that Jermain Taylor defeated Bernard Hopkins to become the new world middleweight champion. But four bars in central Arkansas are now feeling the sting of the blows thrown in the fight. J&J Sports Productions Inc....

Clarification.(Whispers)(Correction notice)
August 6, 2007... Part of the list of Arkansas' largest nonprofit organizations was missing from the July 2 issue, including the footnote indicating the source of the information. All of the data came from IRS Form 990s filed by the listed foundations, some of...

Forever young.(Outtakes: An Inside Look Into Arkansas Media)
August 6, 2007... A national media story appearing in Advertising Age last week prompted us to check in with this market's CW affiliate, which is run out of the Clear Channel Metroplex alongside KLRT-TV, Channel 16 and a handful of radio stations. If you're...

Hybrid airwaves.(Outtakes: An Inside Look Into Arkansas Media)(KATV-TV )(Brief article)
August 6, 2007... Last week's news that KATV-TV, Channel 7 and KABZ-FM, 103.7 "The Buzz" would be rolling out a new venture that features programming from both stations on the air at both outlets at the same time was a first for this market. A daily four-...

Beach boys.(Outtakes: An Inside Look Into Arkansas Media)
August 6, 2007... Just a quick note about a deal involving Equity Media Holdings Corp. and its C.A.S.H. Services Inc. division, which provides English- and Spanish-language news and weather breaks for affiliates nationwide out of its Little Rock-based digital...

ADEQ juggles environment, business needs.(Arkansas Department of Environmental Quality)
August 13, 2007... TERESA MARKS HASN'T HAD a shortage of things to do during her first eight months as director of the Arkansas Department of Environmental Quality. Several key environmental issues are testing the resources of the ADEQ. Two in particular are...

College ads working toward cultural change.(Education)
August 13, 2007... LU HARDIN CHOSE CULTURAL CHANGE OVER CULtural exchange and rewrote the textbook on college recruitment in Arkansas. After becoming president of the University of Central Arkansas at Conway in September 2002, Hardin dumped an exchange...

UAMS firms slow to deliver on promise: BioVentures companies require 'patience'.(Education)(University of Arkansas for Medical Sciences)(Company overview)
August 13, 2007... CURTIS COLEMAN ONCE PREdicted the University of Arkansas for Medical Sciences would be receiving $1 million a month in royalties from his Safe Foods Corp. by 2006. Last week, Coleman wouldn't say what kind of royalties the North Little...

Heifer acquisition.(Whispers)
August 13, 2007... Heifer Project International Inc. added another piece of real estate to its holdings in downtown Little Rock. Heifer bought the 20,735-SF office building at 1424 E. Second St., which was leased by the state Department of Human Services to...

Down the lane.(Whispers)(Brief article)
August 13, 2007... We have heard the distant rumble of bowling balls rolling toward west Little Rock. A bowling alley development is heading to the Glenn Ridge Crossing development. The project would add to the lineup of entertainment venues that now...

As the hog turns.(Whispers)(Brief article)
August 13, 2007... More juicy stuff has bit the public record concerning the drama at the University of Arkansas football program known as E-mailgate. There's a long and winding history to this story, regarding the UA and its handling of a harassing e-mail...

Online this week.
August 13, 2007... Largest Colleges Get a spreadsheet version of the list at Arkansas business.com/lists. Free E-newsletters Free news, weekly: Subscribe to more than 20 industry newsletters, including Education, at Arkansasbusiness.com/enews ...

Air it out.(Whispers)(Brief article)
August 13, 2007... Former University of Arkansas quarterback Clint Stoerner's name will once again be tossed around on the Arkansas sports radio airwaves, as one of the Hogs' most prolific passers will again be calling the plays on his own show beginning...

4 at 11.(Whispers)
August 13, 2007... Looks like KARK-TV, Channel 4 will tryg to capitalize on the NBC network's decision to extend its "Today" show from 7 a.m. to 11 a.m. this fall, using the power of Matt Lauer to kick off a local newscast anchored by Melissa Simas. That'll...

Overdue inflation.(Editorial)
August 13, 2007... THE PRICE OF EVERYTHING-everything--has increased since 1957. Except the price of removing natural gas from beneath the ground in Arkansas. That's still stuck at three-tenths of a cent per thousand cubic feet, a rate untouched by a half-century...

Crew defended.(Letter)(Letter to the editor)
August 13, 2007... I am writing you today regarding your completely inaccurate review of Crew restaurant by your "business staff." (Arkansas Business, Aug. 6.) I am a recent fixture to Little Rock via New York City. I am well traveled and consider myself to be...

State of higher ed.(Publisher's Note)
August 13, 2007... HIGHER EDUCATION IN ARKansas received a couple of much-needed financial infusions in recent months that will pay off for the state. First was the overwhelming approval of a $150 million bond issue that is enabling the state's colleges to...