Business Briefs for Nov. 28, 2005

by Arkansas Business staff  on Monday, Nov. 28, 2005 12:00 am  

• Ron Sims has been named president and CEO of Bank of Mountain View, owned by Home Bancshares Inc. of Conway. Sims, a native of Vanndale, has 32 years of experience in the banking industry. He joined Bank of Mountain View in 1988. He is vice chairman of the New Horizon Day Care Center.

• Advanced Environmental Recycling Technologies Inc. of Springdale said the Weyerhaeuser Co. ChoiceDek program recently received the Lowe's Home Improvement Warehouse Vendor of the Year Award for Lumber during the 2005 Lowe's vendor meeting held recently in Orlando, Fla. A.E.R.T. is the exclusive manufacturer of the Weyerhaeuser ChoiceDek Premium composite decking.

• Talimena Scenic Drive, the 54-mile stretch of road that goes from west Arkansas into southeast Oklahoma through the Ouachita National Forest, has been designated as a national scenic byway.

• Scott M. Roulier, a political science professor at Lyon College at Batesville, has been named Arkansas Professor of the Year by the Carnegie Foundation for the Advancement of Teaching and the Council for Advancement & Support of Education. Roulier has taught at Lyon since 2000.

• U.S. Internet advertising revenue has topped $3 billion in a single quarter for the first time. The Interactive Advertising Bureau said the $3.1 billion for the third quarter was a 34 percent jump from the same period a year ago. The IAB projects that revenue for the year could exceed $12 billion, well above the $9.6 billion total last year.

• ABF Freight System Inc., the largest subsidiary of Arkansas Best Corp. of Fort Smith has appointed Chris Baltz, Wes Kemp and Roy Slagle to the position of senior vice president. In addition, Judy McReynolds has been named SVP, CFO and treasurer of Arkansas Best. The promotions are effective on Feb. 1. Baltz has been named SVP of yield management and strategic development; Kemp has been named SVP of operations; and Slagle has been named SVP of sales and marketing.

• Georgia-Pacific Corp. Chairman and CEO A.D. "Pete" Correll stands to receive stock-based compensation and other payments totaling about $130 million when the sale of the forest products company to Koch Industries Inc. is completed, according to an article in The Wall Street Journal.

• The Arkansas Trucking Associa-tion has formed a committee to urge the voters to reject the interstate highway bond proposal on the Dec. 13 ballot because it "takes away the peoples' right to vote on all future highway bonds, the government debt they create and the taxes to pay for them forever," said Lane Kidd, president of the association.

• Taco Bueno, a Mexican quick-service restaurant chain, has opened its first franchise unit at Fayetteville. The franchise is the result of a 10-month-old partnership between Dallas-based Taco Bueno and Tulsa-based U.S. Beef Corp., which has numerous Arby's restaurants in Arkansas and other states.

• Nomination forms for the 2006 Arkansas Living Treasure are now available. The award is presented to an Arkansan who is outstanding in the creation of a traditional craft and has significantly contributed to the preservation of the art form. To request a nomination form, contact Sally A. Williams at (501) 324-9348 or e-mail sally@arkansasheritage.org. The nomination form is also available at www.arkansasarts.org. The deadline for nominations is Dec. 16.

• J. B. Hunt Transport Services Inc. of Lowell has been given the 2005 Alexander Hamilton award by Treasury & Risk Management magazine for its performance within the insurance category. The publication noted the company's 48 percent reduction in major accident claims and 13 percent reduction in workers compensation claims.

• Two union-backed studies claim Wal-Mart Stores Inc. of Bentonville charged the wrong price to shoppers at a rate that exceeds those set by federal guidelines. The studies said random purchases at 60 stores in California found the wrong price came up 8.3 percent of the time. At 78 stores in Illinois, Indiana and Michigan, the wrong price came up 6.4 percent of the time. The National Institute for Standards & Technology says that for every 100 items scanned, no more than two should have the wrong price.

 

 

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