The Whispers Blog
Arkansas' breaking business news blog, with news and commentary from the Arkansas Business staff.
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The popular Little Rock food truck will be opening up a restaurant at 219 W. Capitol Ave. in the Sterling Annex.
According to Soirée's report, the restaurant will be about 3,000-SF and seat about 85 guests. Justin Patterson, owner of Southern Gourmasian, says the restaurant plans to serve alcohol, including local beers on tap.
No official open date has been set, but it's planned to open some time later this year. For more, check out the full report at Soirée.
The food truck reported $108,542 in sales during 2013, and $17,515 through the first two months of this year.
Our sister publication, Little Rock Soirée, has the latest on Little Rock restaurateur Jerry Barakat and his plans for a new restaurant in Hillcrest.
"Barakat says he hopes to open Kemuri, at 2601 Kavanaugh Blvd., by late July. The restaurant, located in the former home of Ferneau and Rocket 21, will feature seafood, sushi and smoked meats, according to Barakat."
The restaurant is said to be about 4,800-SF and have space for about 150 guests inside and another 30 outside. Currently, Barkat is awaiting an alcohol permit and putting the finishing touches on the menu.
For more on Kemuri, check out the full story over at Soirée.
What do the Koch family, Mars family, S.C. Johnson family and Rockefeller family all have in common? Well, besides all being multi-billion dollar empires, they all have less money than the Waltons of Wal-Mart Stores Inc. of Bentonville (NYSE:WMT).
Forbes recently ranked America's richest families, who combined for an aggregate wealth of $1.2 trillion, and the Walton family — made up of Christy Walton, Jim Walton, Alice Walton, S. Robson Walton, Ann Walton Kroenke and Nancy Walton Laurie — was the wealthiest with a combined net worth of $152 billion.
Here's what Forbes had to say about the wealthiest family in America.
"Unrest has beset the Walton's Wal-Mart empire. Workers at one of the world's biggest employers went on strike to protest low wages and have led a movement to unseat Rob Walton as chairman, but family's tight grip on the retailer — together they own 51 percent of the shares — gives them effective veto power. With $476 billion in revenue, Wal-Mart still reigns as the world's largest retailer, a far cry from the company started by Sam Walton and his brother James in a small Arkansas town in 1962."
The Waltons were followed by the Koch family, with a net worth of $89 billion, and the Mars family, with a net worth of $60 billion. The Walton family's reign as America's wealthiest is large enough that the net worths of its two closest competitors could be combined, $149 billion, and still fall short by $3 billion.
For more on the wealthiest families in America, check out the list from Forbes.
After coming in second to Royal Dutch Shell PLC (NYSE:RDS.A) last year, the Arkansas-based retail behemoth overtook the oil company which held the top spot the past two years. Here's some of what Fortune had to say about its top-rated company:
"The retailer has ramped up its international focus. With Doug McMillon's start as CEO in 2014, the company has underscored its desire to expand further overseas. Prior to taking the helm, McMillon headed Wal-Mart International from February 2009 to February 2014."
It's the first time since 2011 that Wal-Mart has been ranked No. 1, after coming in second in 2013 and third in 2012.
Since 2000, Wal-Mart has been ranked No. 1 nine times, including four consecutive years from 2002-05. Its lowest ranking in the past 15 years has been third.
Wal-Mart reported revenue of $476.3 billion and a net income of $16.022 billion in 2013. McMillon saw a total compensation of $25.6 million last year, including stock awards of $23 million.
ArcBest Corp. of Fort Smith, formerly known as Arkansas Best Corp. and parent company to ABF Freight and other related businesses, has moved up in the Fortune 1000.
The firm announced Wednesday that it had moved up 38 spots to No. 889. Last year, the company was 927 on the list, which rankls the nation's companies by gross revenue.
In addition to its largest subsidiary ABF Freight, one of the nation's leading less-than-truckload (LTL) carriers, ArcBest is the parent company of ABF Logistics, Panther Premium Logistics, FleetNet America and ArcBest Technologies.
ArcBest is considering moving ABF Freight from North Little Rock to Memphis.
- Southern Gourmasian to Open Restaurant in Downtown Little Rock
- Jerry Barakat Opening Japanese Restaurant in Hillcrest
- Waltons Check in at No. 1 on Forbes 'Richest American Families' List
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