Business

Bank OZK adds two members to board

Bank OZK has approved an increase in the size of its board of directors from 16 to 18 and named two new members. The board elected Beverly Cole and Steven…

Digital manufacturing often stuck in ‘pilot purgatory’

A new McKinsey & Co. survey on digital manufacturing has found that most manufacturers are stuck in “pilot purgatory” when it comes to the practice. By “pilot purgatory,” McKinsey means…

Weyerhaeuser posts second quarter income, revenue gains

Weyerhaeuser, a forest products company with Arkansas locations in Dierks and Hot Springs, reported a net earnings increase of 18% in the second quarter of 2018 compared with the first…

PMI shows continued expansion in U.S. manufacturing sector

The Institute for Supply Management (ISM) has released its monthly Purchasing Managers Index (PMI) for July, and the story told is another positive one though slightly off from the previous…

Real Deals: Three acquisitions in downtown Bentonville total $9.23 million

A trio of eponymous limited liability companies (LLC) completed property acquisitions in downtown Bentonville last month for a combined $9.23 million. One LLC, 1002 and 1010 SE C, bought two…

Fayetteville reeling after Wind Catcher canceled

Columbus, Ohio-based American Electric Power (AEP) announced July 27 it was canceling the $4.5 billion Wind Catcher project after the Public Utility Commission of Texas denied it, and the city…

Westphal to enter Chaffee Crossing market with commercial, residential development

Johnny N.T. Nguyen and Chao M. Do received approval from the Fort Chaffee Redevelopment Authority (FCRA) real estate review committee on Thursday (Aug. 9) to resell 14 acres purchased in…

The Supply Side: Consumers more conscious of subscription costs

With more households using subscriptions for consumables, services and entertainment, there is less need to shop in stores. Retailers of all sizes have felt the squeeze from Amazon and its…

Democrats’ Henderson says teachers should be nation’s highest paid

Democratic nominee for governor Jared Henderson Thursday (Aug. 9) proposed a one-year, 10% minimum teacher salary increase along with a 10-year goal of making Arkansas teachers the highest paid in…

Uniti Group pares 2Q losses, announces fiber deals to grow national footprint

Little Rock-based Uniti Group trimmed second quarter losses from a year ago as the real estate investment trust (REIT) continued to grow its national fiber network with two new investment…

Tyson Foods sells pizza crust business to Peak Rock Capital, dividend declared

Springdale-based Tyson Foods noted in a federal filing Thursday (Aug. 9) an agreement to sell its pizza crust business to private equity firm Austin, Texas-based Peak Rock Capital. Tyson did…

Arkansas Children’s Hospital to expand its Jonesboro clinic

Little Rock-based Arkansas Children’s Hospital will double the size of its Jonesboro clinic after businessman Chris Fowler and his wife Kim donated $750,000 Thursday (Aug. 9) toward the project. The…

Chef Miles James planning new restaurants in Centerton, Fayetteville and downtown Springdale

MJ Pizzeria, the Springdale restaurant operated by award-winning chef Miles James, is expanding. James has signed a lease agreement to occupy about 3,500 square feet in Phase I of Centerton…

Downtown Springdale Alliance’s executive director leaving position

The nonprofit organization Downtown Springdale Alliance (DSA) is preparing for a change in leadership. Kelly Syer, who was named executive director in May 2017, is leaving the organization. According to…

Windstream reports 2Q loss of $94 million, beats Wall Street expectations

Windstream Holdings Inc.’s second quarter financial results beat Wall Street expectations even as losses widened to nearly $94 million amid the company’s ongoing legal battle over debt swaps related to…

Murphy Oil 2Q profits well ahead of 2017 on higher oil prices, ramps up drilling program

Murphy Oil Corp.’s second quarter financial results exceeded year ago and Wall Street expectations as the Arkansas oil firm ramps up its international oil drilling and exploration program as crude…

LR Tech Park hires CDI as construction firm, financing still unknown for second phase

The Little Rock Technology Park Authority on Wednesday (Aug. 8) agreed to hire CDI Contractors LLC as the construction manager for the next phase of its unfinanced downtown startup village…

Group hopes to re-purpose old White River bridge; chides Sen. Boozman for a lack of support

An effort is underway to transform the old bridge that spans the White River at Clarendon, but state partners are still awaiting federal backing, including support from U.S. Sen. John…

Tourism roundtable: Arts, history will drive state’s visitor industry

Arkansas has long touted its “Natural State” motto to draw visitors to the state. In recent years, tourism tax collections have set new records. In 2017, the 2% tax on…

Shippers should better understand freight as prices rise, capacity remains tight

Carriers often have a better understanding of a shipper’s freight than the shipper has of its own products, a logistics executive said. In a recent podcast, Steve Ludvigson, president and…