Joe T. Ford

Joe T. Ford made his mark on the business scene in a time of grow-or-go telecommunications transformation. During his 1960-2002 tenure, Ford helped grow Allied Telephone Co. from a handful of local exchange carriers in Arkansas into a leading player on the national stage as Alltel Corp.

That fiscal makeover saw the Allied Telephone payroll expand from several dozen employees to more than 25,000 after the company morphed into Alltel and operations spread across 34 states.

“I could see us developing a big company,” Ford said, looking back on the early years working for his father-in-law, Randy Wilbourn Jr. “All of a sudden we ended up with a really big company.”

Born from the 1983 merger of Allied and Mid-Continent Telephone Corp. in Hudson, Ohio, Alltel began business as the nation’s fifth-largest telephone company with more than $1.3 billion in assets and Ford as its president. He was named CEO in 1987 and chairman of the board in 1991.

Ford led Alltel through the opportunities and challenges of a deregulated telephone industry and into the virgin territory of wireless communications, where the company rode the cellular wave to new heights.

During his career, Ford had a hand in more than 250 mergers and acquisitions that accelerated the company’s growth trajectory and altered its revenue tally from millions to billions of dollars.

“If you have a great company, you have great people,” he said. “I’ve worked with great people.”

Succeeded by his son, Scott, as president in 1997 and CEO in 2002, Ford served as chairman until the 2007 sale of Alltel to Texas Pacific Group and Goldman Sachs for $27.5 billion.

Ford’s path to Alltel began after graduating from Conway High School, where he was a star athlete. Economics captured his fancy at the University of Arkansas at Fayetteville.

Home on Christmas break in 1958 during his senior year in college, Ford decided to cold-call a prominent Little Rock businessman: Jack Stephens, president and CEO of Stephens Inc.

His intent was to learn whatever secrets to success Stephens might be willing to impart.

That entree led to a long-standing relationship that extended beyond business to family bonds. “He was a great mentor and friend,” Ford said.

Stephens recalled that initial introduction during an interview with Arkansas Business when Ford was selected as Arkansas Business’ Newsmaker of the Year based on Alltel’s remarkable performance in 1998.

“I remember that first meeting very well,” Stephens said. “At a young age, Joe Ford was very impressive. It was obvious to me that he was well-grounded by his parents in the values of decency and common sense. He still relies on those traits as he continues to make Alltel a telecommunications leader, not only in this country but throughout the world.”

In 1998, Alltel completed what was then the largest merger in state history by acquiring 360º Communications Co. of Chicago for $4.2 billion, adding 2.6 million customers in 15 states. At the time, the combined companies had a total market value of $12 billion and annual revenue of about $5 billion.

From selling Yellow Pages ads after completing his ROTC military obligations to striking billion-dollar deals, Ford’s corporate endeavors blended with political and civic leadership. From 1967-82, he served in the Arkansas Senate, championing school reforms for kindergarten and children with disabilities.

In post-Alltel days, Ford became chairman of Westrock Coffee Co. There, he’s enjoyed helping Scott expand the company from its Rwanda-Little Rock nexus into a publicly traded billion-dollar concern with multiple commercial connections around the world.

“Arkansas is a great place to do business,” Joe Ford said. “I’m proud of Arkansas and proud to be from Arkansas.”