The Sam M. Walton College of Business at the University of Arkansas will hold its induction ceremony for the Arkansas Business Hall of Fame at 6 p.m. Friday at the Statehouse Convention Center in Little Rock.

The 2002 inductees are:

• Richard E. Bell, president and chief executive officer, Riceland Foods Inc. of Stuttgart.

• David D. Glass, chairman of the executive committee of the board of directors, Wal-Mart Stores Inc. of Bentonville.

• The late Robert D. Nabholz Sr., founder and chairman emeritus, Nabholz Construction Corp. of Conway.

• Louis L. Ramsay Jr., chairman of the executive committee, Simmons First National Corp. of Pine Bluff.

The hall of fame was founded in 1999. Past inductees include Johnelle and J.B. Hunt, John H. Johnson, William Dillard Sr., Charles H. Murphy Jr., Jackson T. Stephens and Walton.

The Arkansas Business Hall of Fame is housed in the atrium of the Donald W. Reynolds Center for Enterprise Development at the Walton College on the Fayetteville campus.

The selection process was chaired by Walton College alumnus Tommy Boyer, CEO of Micro Images of Amarillo, Texas.

A nominating committee of 23 business leaders encouraged people throughout the state and beyond to make nominations, and then a selection committee of 12 businesspeople reviewed the nominations and chose the inductees. Criteria for selection included the significance of the impact made as a business leader, the concern demonstrated for improving the community and the display of ethics in all business dealings.