Arkansas Business

Local & Regional News
1:34 pm
Tue April 15, 2014

Historic Building In Downtown Little Rock To Become Hotel

Boyle Building on Main Street in Little Rock

The Chi family of Little Rock is announcing it will turn the century-old Boyle Building at the corner of Main Street and Capitol Avenue into an Aloft Hotel.

The family already owns two hotels and several restaurants in Little Rock.

David Robinson, one of the partners for Main Street Lofts who until recently was the owner of Boyle Building, said the Chi Hotel Group purchased the building for $4.6 million.

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Local & Regional News
5:33 pm
Wed March 26, 2014

Ethics Complaint Dismissed Against Arkansas Securities Commissioner

Arkansas Securities Commissioner Heath Abshure and the corporate headquarters for Stephens Inc.
Credit Arkansas Business

Arkansas Securities Commissioner Heath Abshure has been cleared of any ethical violations after a complaint was filed by Little Rock-based investment firm Stephens Incorporated.

But now the company’s top lawyer says there ought to be a law against what the commissioner did.

Arkansas Business Editor Gwen Moritz has been following the ongoing allegations being fired back and forth between the Abshure and Stephens.

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Local & Regional News
3:16 pm
Fri March 14, 2014

Power Transmission Operator Breaks Ground For Little Rock Facility

Credit Chris Hickey / KUAR News

A company that will manage operations of Entergy Arkansas’s power grid, broke ground on a new facility in Little Rock Friday. The Midcontinent Independent System Operator or MISO, is establishing a regional headquarters that it says will employ 50 people at average salaries of 85,000 dollars a year.

Local elected officials and company representatives gathered in the middle of a dusty construction site in West Little Rock to move dirt with golden shovels and give a ceremonial blessing to the arrival MISO’s new facility in Arkansas

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Local & Regional News
2:31 pm
Wed February 26, 2014

Third And Likely Final Round Of Layoffs Begins At Acxiom

A third, and likely final, wave of layoffs at Little Rock-based Acxiom Corp. began on Wednesday as the database marketer continued its push to realign its workforce to meet changing industry demands.

Acxiom indicated in November 2013 it would cut its overall labor force by March in an effort to save $20-$30 million annually.

Acxiom has been investing in new products and services geared towards more sophisticated consumer data collection and target marketing via the Internet as some of its traditional, core business silos have seen declines in revenue and profitability.

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Local & Regional News
2:42 pm
Thu February 13, 2014

Valentine's Day Helps Restaurants During A Slow Period

Credit flickr.com

Restaurants, along with jewelers, candy companies and florists all look forward to Valentine’s Day.

One restaurateur says it and New Year’s Eve are typically the busiest days of the year.

“Valentine’s is a very important holiday for us, and I’m sure it is for a lot of other places in the restaurant business, especially fine dining places. This is the time of year when it slows down and it’s slower through March.  Our sales are down and this gives us a boost to get us over the hump,” said Brent Peterson, co-owner of Trio’s Restaurant in Little Rock.

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Local & Regional News
4:09 pm
Wed January 29, 2014

New Report Shows Home Sales Are Up In Arkansas

The number of homes sold in Arkansas is up. A report out Wednesday from the Arkansas Realtors Association says home sales are up by 17%, as compared with the same time last year.

Carolyn Cobb, Executive Broker with Coldwell Banker says People are able to sell homes for a bit of a profit and interest rates are down. But she doesn’t foresee too much changing over the next few months.

Cobb says last year’s average price for a home was just over $150,000.

Local & Regional News
4:05 pm
Tue January 28, 2014

FBI Agents Search North Little Rock Photo Archive Company

FBI agents conduct an investigation Tuesday at the John Rogers Archive in North Little Rock. The FBI also visited Rogers' home in North Little Rock.
Credit Mark Friedman / Arkansas Business

It’s not immediately clear why, but federal agents Tuesday executed search warrants at a North Little Rock company that has become well known for licensing and digitizing the photo collections of notable newspapers around the country. They were also at the expansive home of John Rogers, owner of Rogers Photo Archive.

Reporters were kept across from the locations, as boxes were removed and loaded into vehicles.

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Local & Regional News
4:12 pm
Mon January 20, 2014

Tyson Foods Acquires Michigan Company, Bosco's Pizza

Tyson Foods, one of the world's  largest meat-processing companies, says it's acquired the assets of Bosco's Pizza of Warren, Michigan.   Bosco's produces a variety of stuffed bread sticks and  frozen pizzas for food service and retail customers throughout the Midwest and at some national retailers.   Tyson officials say the acquisition is part of the Springdale company's plan to grow its domestic prepared foods business.   Bosco's employs about 150 people, all of whom are expected to work for Tyson.

Local & Regional News
3:00 pm
Mon January 13, 2014

Legislature Will Meet To Discuss 2015 Budget

The finance department projects a 2% increase of about $95 million  in general revenue, available for state agencies to spend in the upcoming fiscal year. The Legislative Council and Joint Budget Committee begin meetings Tuesday to discuss the current 2014 fiscal session and the 2015 budget which goes into affect July 1st.

Representative Duncan Baird, Joint Budget Committee Co-Chairman, says the Department of Human Services will join them Thursday to discuss Medicaid and the private option.

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Local & Regional News
3:46 pm
Fri January 3, 2014

Arkansas AG Approves Minimum Wage Ballot Proposal

The Arkansas attorney general's office has approved the wording of a ballot proposal that would raise the state's minimum wage to $8.50 per hour by 2017.

The proposal by the group Give Arkansas a Raise Now got the nod Friday and can begin gathering voter signatures. Organizers want to get the measure on the November ballot.

The initiated act would raise the current minimum wage of $6.25 per hour to $7.50 per hour on Jan. 1, 2015.

One year later, it would go up 50 cents to $8 per hour and would top out on Jan. 1, 2017, at $8.50 per hour.

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