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Businessman, party leader murdered Sunday, Aug 17, 2008 By Roby Brock Auto executive and state Democratic Party Chairman Bill Gwatney was gunned down by Timothy Dale Johnson, 50, of Searcy. Johnson walked into the party's headquarters around 11:50 am on Wednesday and asked to see Gwatney. According to witnesses, Johnson pulled a revolver and fired shots at Gwatney, which proved to be fatal. Police are still searching for a motive for the killing. Little Rock will host Verizon regional headquarters Verizon Wireless CEO Lowell McAdam told a Little Rock audience of nearly 700 mostly Alltel employees that the company will keep the Alltel Riverdale campus as a regional headquarters for the firm. McAdam said that a regional headquarters could employ around 100 employees involved in marketing, sales and finance. He also hopes to expand the current call center at Alltel when the Verizon merger is completed from 800 workers to as many as 1,200. The fate of the Alltel Little Rock headquarters and its nearly 3,000 employees has been in question since Verizon's announcement in June that it would buy Alltel for $28.1 billion. This week, several competing carriers and unions filed objections to the sale. Alltel posts $70 million second-quarter loss Alltel Corp. reported a $69.9 million second-quarter loss, which the company blamed on interest costs and depreciation and amortization expenses related to its private equity buyout in 2007. Work force bonuses and severance packages also impacted the bottom line. Quarterly revenues for the Little Rock-based telecom rose to $2.39 billion. One year ago, Alltel posted second-quarter profits of $195.7 million on revenues of $2.18 billion. Wal-Mart earnings up Wal-Mart reported second-quarter net income of $3.45 billion, up from $2.95 billion in last year's second quarter. Revenues topped $102.6 billion for the retail giant, an increase from $93 billion one year ago. The company cited price leadership, enhanced customer service and operational improvements for its performance. Wal-Mart also raised its guidance for the remainder of the year. The world's largest retailer said that it expects to see annual earnings between $3.43 and $3.50 per share, up from its previous estimate of $3.30 to $3.43 per share. Wal-Mart TO invest $1.2 billion in Brazil Wal-Mart said it plans to invest as much as $1.2 billion in its Brazilian operations, opening 80 to 90 new stores. The move would create over 9,000 new jobs in 2009. Wal-Mart started operations in Brazil in 1995 and has 318 stores employing more than 70,000 workers in the South American nation. UA inks $73 million deal for Razorback sports contract ISP Sports has acquired the multimedia rights for the University of Arkansas and has guaranteed the Razorback athletic department $73 million over the next 10 years. The North Carolina-based firm obtained the rights from Little Rock television station KATV Channel 7, which will remain the flagship TV station of the new network. Additionally, ISP will manage certain media rights that were once managed by the university's athletic department, including athletic venue signage, printed material such as game programs, the official athletic web site, at-event hospitality and promotion opportunities. Wells Fargo buys Texarkana bank Wells Fargo & Co. and Century Bancshares, Inc. have signed a definitive agreement for Wells Fargo to acquire Century Bancshares and its banking operations in Dallas-Fort Worth and Texarkana in a stock-for-stock merger. Century Bancshares has $1.4 billion in assets, $1.3 billion in deposits, $1.2 billion in loans, 32 banking locations and 485 employees. It has 28 Century Bank locations in nine Texas communities and four locations in Arkansas. Batesville to gain 390 jobs Emerson Climate Technologies announced it would expand production in Batesville. Emerson plans to re-tool the former White-Rodgers facility in Batesville to produce components for air-conditioning compressors. Ultimately, officials will spend a reported $120 million and add 390 jobs over the next six years. Wages will average $14.51 per hour, approximately $30,000 annually. White-Rodgers announced plans to close its Batesville plant in May laying off 230 workers. Pilgrim's Pride to close Clinton facility Pilgrim's Pride Corp. will idle its chicken processing plant in Clinton and a further-processing facility in Bossier City, La. Both moves, which are expected to be completed within 60 days, are part of the company's effort to operate more efficiently and return to profitability amid high feed costs and an oversupply of chicken on the market. About 390 Arkansas jobs will be lost in the cost-cutting move. Unemployment rate falls five-tenths of 1 percent Arkansas' unemployment rate fell five-tenths of a percent to 4.5 percent in July. One year ago, the state's jobless rate stood at 5.5 percent. The U.S. unemployment rate rose two-tenths of a percent to 5.7 percent in July. State workforce officials attributed the major decline to a drop in the number of unemployed Arkansans. Arkansas home sales drop 24 percent The Arkansas Realtors Association reported its June 2008 sales and price data, which showed a 24.2 percent drop in home sales versus the previous year's comparable month. Double-digit declines marred four of the top five markets in the state. Total valuations fell 22.8 percent statewide to $393.2 million. In June 2007, total home sales topped $509.1 million. Average prices continued to climb across the state, rising 1.9 percent during the month to $164,458. Kurtz named CEO of Golden Living Golden Living, the former Beverly Enterprises, announced that Dr. Neil Kurtz has been named president and CEO, effective Aug. 29. Golden Living, headquartered in Fort Smith, is one of the largest nursing home and long-term health care providers in the country. |
