Arkansas Business' 'Gone but Not Forgotten' (25th Anniversary)

by Arkansas Business Staff  on Monday, Mar. 23, 2009 12:00 am  

Fay Jones, architect of the Thorncrown Chapel near Eureka Springs, died in 2004.

9. Herbert Hall McAdams II
Herbert Hall McAdams II understood how to buy and sell banks. He bought Little Rock's Union National Bank in 1970 for $10 million. The bank later was sold to Worthen Banking Corp. of Little Rock for $115 million.

But the man who had once vowed to leave Arkansas because it was "backward" instead made an indelible mark on the state through his business acumen. McAdams, a Jonesboro native, was also CEO of Citizens Bank of Jonesboro for 32 years. He played a large role at Arkansas State University in Jonesboro, founding the Arkansas State University Foundation Inc. in 1977 and serving as its chairman until 1992.

McAdams died in 2001.

10. William T. Dillard
William T. Dillard decided early on that he wanted to follow in his father's footsteps. Dillard's father was a merchant in Mineral Springs (Howard County). And while Dillard wanted to follow his father, he also dreamed of expanding beyond Mineral Springs and Arkansas.

At 23, after training at Sears Roebuck & Co., Dillard founded T.J. Dillard & Co. in Nashville, the Howard County seat, in 1938. Before long, he began buying other chains and assembling Dillard's Inc. In 1969, Dillard took his company public, and its annual sales reached $7.8 billion in 1998, the year he turned over the chief executive job to his son.

Dillard died in 2002.

11. Paul Klipsch
Paul Klipsch decided he wanted to bring concert sound to living rooms everywhere. So in 1946, Klipsch & Associates of Hope began building and selling home speakers that cost $400. It took several years for the speakers to take off, but as rock and roll became more popular, sales began to increase.

The patents Klipsch filed for his speakers earned him a place in the Audio Hall of Fame and Engineering & Science Hall of Fame.

Kipsch sold the company for an undisclosed sum in 1989. The company had $20 million in sales and employed 220.

Klipsch died in 2002.

12. Sid McMath
Sidney Sanders McMath made a name for himself many times over.

He became student body president at the University of Arkansas and was a decorated World War II veteran. He beat the Hot Springs political machine of Mayor Leo McLaughlin by winning the prosecuting attorney's race in 1946, after which he promptly filed a suit against the mayor that led to McLaughlin's downfall.

 

 

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