Today's News

Update: Dennis Smiley Jr. Pleads Guilty to Bank Fraud

by Gwen Moritz and Marty Cook 8/25/2015 11:28 am

H. Dennis Smiley Jr., the former president of Arvest Bank's Benton County market, waived indictment and pleaded guilty to defrauding 20 banks out of more than $4 million.

Donald W. Reynolds Foundation Gives $7.9M to UAMS

by Arkansas Business Staff 8/25/2015 10:04 am

The Donald W. Reynolds Foundation has given a $7.9 million grant to the Schmieding Home Caregiver Training Program at the University of Arkansas for Medical Sciences.

Mike Huckabee Criticizes China, Trade Deals after Market Drop

by Andrew DeMillo, The Associated Press 8/25/2015 07:07 am

Republican presidential hopeful Mike Huckabee accused China on Monday of reneging on trade deals and continued his push for a national sales tax.

Global Markets Rebound as China Cuts Interest Rates to Help Economy

by Associated Press 8/25/2015 06:52 am

Global markets rebounded Tuesday after China's central bank cut its key interest rate to support growth in the world's second-largest economy. Earlier, China's main stock index closed sharply lower for a fourth day.

The Hive, LR's Newest Entrepreneurial Space, Goes Live Sept. 1

by Mark Carter 8/24/2015 03:31 pm

The Hive is being billed as a co-working lifestyle space for creatives and entrepreneurs. It's part of Bespoke Media Group's new headquarters at 2207 Cantrell Road.

Dow Jones Finishes Down 588 Points After Day of Massive Swings

by Associated Press 8/24/2015 03:04 pm

U.S. stocks are closing sharply lower, with the Dow Jones industrial average down more than 588 points and the Standard & Poor's 500 index now down more than 10 percent off its recent high.

Eldridge Says He's Looking at US Senate Race in Arkansas

by Andrew DeMillo, The Associated Press 8/24/2015 03:01 pm

Former federal prosecutor Conner Eldridge says he's considering challenging Republican U.S. Sen. John Boozman in Arkansas next year, and plans to make a decision in the coming weeks.

U.S. Renal Care Merges with DSI Renal

by Alexis Hosticka 8/24/2015 02:22 pm

U.S. Renal Care Inc. and DSI Renal announced Monday they have entered into a definitive merger agreement.

ADEQ: Clean Power Plan Final Rule Improvement Over Draft

by Mark Carter 8/24/2015 12:40 pm

Arkansas is in better shape under the federal Clean Power Plan final rule than it was under the plan's draft, Arkansas Department of Environmental Quality Director Becky Keogh said Monday.

US Stocks Pare Losses after 1,000-Point Dow Plunge

by Associated Press 8/24/2015 11:27 am

Though the Dow's declines eased significantly as the morning went on, it sent a shiver of fear through Americans with retirement accounts or saving to buy a home that the bull market is over.

Belk to Sell Itself, Go Private in $3B Deal

by Associated Press 8/24/2015 10:47 am

Department store chain Belk Inc. says it has agreed to sell itself to New York-based private equity firm Sycamore Partners and go private in a deal that it valued at about $3 billion.

Outlets of Little Rock Announce Retailers

by Alexis Hosticka 8/24/2015 10:15 am

Outlets of Little Rock, a 325,000-SF outlet center opening on Oct. 16 next to Bass Pro Shops in Little Rock, is announcing stores all through this week.

Newk's Opening Sixth Arkansas Restaurant

by Alexis Hosticka 8/24/2015 09:18 am

Newk's Eatery is opening a fourth restaurant in the Little Rock area at 11 a.m. on Monday, Aug. 31.

Here's Why Stocks Are Tumbling 6 Years into the Bull Market

by Associated Press 8/24/2015 06:57 am

For years, investors in U.S. stocks shrugged off threats — a government shutdown, fear of a euro collapse, a near U.S. debt default — and just kept on buying. Now, buyers are hard to find.

Chinese Stock Market Plunge Causes Global Rout

by Associated Press 8/24/2015 06:56 am

World stock markets plunged on Monday after China's main index sank 8.5 percent — its biggest drop since the early days of the global financial crisis — amid deepening fears over the health of the world's second-largest economy.

Quapaw Casino-Growth Plans Generate Opposition in Kansas

by George Waldon 8/24/2015 12:00 am

The success of Downstream Casino Resort in Kansas and plans for expansion suggests that the Quapaw Tribe of Indians know how to run a casino — an expertise that might well worry Arkansas' existing gambling venues.

Bingo Numbers Continue to Slide for Some Nonprofits

by Mark Friedman 8/24/2015 12:00 am

In Arkansas, for the fiscal year that ended June 30, 78.8 million bingo “faces” —the individual game cards — were sold. That's more than 25 for every man, woman and child in the state.

Case Closed in Clint Stoerner Lawsuit

by Arkansas Business Staff 8/24/2015 12:00 am

The lawsuit involving Razorbacks star quarterback Clint Stoerner and his three former business partners has been settled. The joint motion to dismiss was filed last week in Pulaski County Circuit Court.

Vacancy Rate Declines in Central Arkansas Office Space

by Arkansas Business Staff 8/24/2015 12:00 am

The office market in central Arkansas continues to see improvement, with the second quarter of 2015 becoming the seventh quarter in a row to experience positive absorption.

Correlation ≠ Causation (Gwen Moritz Editor's Note)

by Gwen Moritz 8/24/2015 12:00 am

American Banker published last week a thought-provoking article by Victoria Finkle headlined “Is Dodd-Frank Really Killing Community Banks?” I'm not one of those old-school editors who object to questions as headlines — we use them in Arkansas Business and no apologies — and the question intrigued me. Have I been suckered?