Business Briefs

by Arkansas Business Staff  on Monday, Jan. 24, 2011 12:00 am  


Southern Bancorp of Arkadelphia has announced the promotion of two executives, Brent Black and Jamee Clay, two weeks after it announced the retirement of CEO Phil Baldwin. Black is promoted to senior vice president, and Clay is promoted to vice president of compliance. Black, a certified public accountant with 14 years of experience in accounting and auditing, joined Southern Bancorp in 2003 as controller and was promoted to chief financial officer in 2005. Clay joined Southern Bancorp in 1999 and is responsible for overseeing the bank's compliance, anti-money laundering, and Community Reinvestment Act programs. She has 11 years of banking experience, including nine years in compliance.


USA Truck Inc. of Van Buren has announced the formation of the USA Truck Scholarship Program, designed to help eligible children of USA Truck employees pursue post-secondary education. In announcing the program, Cliff Beckham, the company's president and CEO, said, "At USA Truck we recognize that our driver employees and those who assist them in providing safe and efficient service to our customers are essential to our success.  As a part of the company's on-going commitment to enhance the USA Truck Experience for our employees and their families, we are excited to introduce the USA Truck Scholarship Program." The program will be administered by Scholarship Management Services, a division of Scholarship America. Scholarship applications may be submitted through March 1, 2011, and awards will be made in April for the upcoming academic year.


NanoMech Inc. of Fayetteville, which announced last week that it had acquired a Canadian tech firm, said the deal could lead to more hiring for the company. Though many specific terms of the deal were not disclosed, NanoMech CEO Jim Phillips told Arkansas Business that the company's acquisition of Canadian Nano Technologies LLC, also known as Canano, had been in the works for the last few weeks. He said the purchase was financed through the company and its investors, and does not involve any borrowing. NanoMech has moved five of Canano's top people to northwest Arkansas, along with all of the company's equipment. Though he didn't have a specific timeframe for more hiring, Phillips said that if everything goes according to plan, NanoMech would be adding scores of what he described as knowledge-based jobs to the region. Most of the jobs would have a salary range of $50,000 to $125,000 a year, he said.






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