⌚ The Week’s Top Stories In 60 Seconds

Here are the five stories that resonated most with Arkansas Business readers this week.

1. Simmons Absorbs $604M Loss, Recoups With Stock Sale

• The loss came when the bank sold more than $3 billion of its investment securities
• bank’s CEO and industry experts downplayed alarm at the loss, attributing it to changes in the bond market

2. Arkansas Heart Hospital Cuts 4% of Staff Amid Rising Costs, Low Reimbursements

• The layoffs represented about 4% of the Heart Hospital’s 1,000-member workforce
• Meanwhile, the hospital is preparing for a potential wave of patients seeking bariatric surgery

3. Homebuilder Tracie Kelley Faces Sanctions in $1.6M Suit

• Plaintiffs allege that Kelley and her Little Rock company, KellCo, are not dealing in good faith or taking the lawsuit seriously
• A July deposition taken for the lawsuit did not go smoothly

4. Tyson Appoints Devin Cole as COO, Ousts Chief Supply Chain Officer

• Brady Stewart was fired as chief supply chain officer after a violation of the company’s code of conduct
• Further leadership and organizational updates are expected soon

5. New $10M Apartment Project to Go Up in West Little Rock

• The 60-unit project is being built at 4010 S. Shackleford Road, Little Rock
• An affiliate of Phillips Development Corp. of Little Rock is behind the project