The National Retail Federation announced Jim Sinegal, co-founder of Costco, as its choice for this year’s gold medal honor. The award will be presented at the annual convention to be held in New York, Jan. 12 -15.


The gold medal is given to an individual who has served the industry with distinction and achieved a national reputation for excellence. The recipient has also displayed creative genius and inspirational leadership and has won the respect of fellow merchants for devotion to the retail craft.



Sinegal served as president and CEO of Costco from its inception in 1983 until 2012 and remains on Costco’s board of directors. During that tenure, Costco became the top warehouse-club retailer in the nation, with more than 645 stores operating in 42 states, Puerto Rico and nine countries, with annual sales of $103 billion.



Prior to joining Costco, Sinegal served as executive vice president for the Price Company. He started his career in retail with Fed-Mart Corporation as a store bagger, eventually climbing the ranks to serve as executive vice president, overseeing merchandising and operations.


“Jim was an obvious choice for NRF’s Gold Award, given his commitment to the industry and Costco, and dedication to creating such a well-respected culture throughout the organization he helped build,” said NRF President and CEO Matthew Shay. “All of the award winners have successfully been able to cut through the clutter and make an outstanding name for themselves by continuing to innovate and effectively serve their customers in an ever-changing world.”  

Other NRF awards include:

Retail Innovator of the Year: Nike Inc.

International Retailer of the Year: Lotte Department Store (South Korea)

Clarity Pointe Fayetteville, an assisted living community dedicated to the care and treatment of Alzheimer’s in Northwest Arkansas, appoints Linda Vigil as director of community outreach. The facility is under construction with anticipated completion in the spring of 2015.

Clarity Pointe Fayetteville’s pre-opening efforts are being managed from temporary offices in the McKee Business Center. As a certified assisted living administrator with 25 years of experience in senior housing and healthcare marketing, Vigil has been instrumental in opening numerous assisted living and memory care communities across the country. 

Since moving to Northwest Arkansas seven years ago, Vigil has established key relationships with older adults, their families and healthcare providers. She has held marketing management positions at Culpepper Place Assisted Living and Walnut Grove Nursing & Rehab in Springdale, as well as Peachtree Assisted Living Communities. 

With a bachelor’s degree in marketing and master’s in gerontology, Vigil is an ambassador for the Springdale Chamber of Commerce; a board member of Health Care Marketing Alliance of Northwest Arkansas; a member of Case Managers Society of America; and a Community Advisory Committee member for the Schmieding Center for Senior Health and Education.

The Ozark Affiliate of Susan G. Komen announced Marilyn Bielema, mother of Arkansas Razorback Head Football Coach Bret Bielema, will join Shelley McMillon as an honorary co-chair for the 2014 Annual Komen Ozark Race for the Cure on April 26, 2014.

Bielema is a three-time breast cancer survivor and a passionate supporter of breast cancer research and awareness. 

“If my story can help one woman make the decision to get her mammogram, then everything I have been through is worth it,” said Bielema.  “I am so excited to come to Arkansas and celebrate the wonderful people who make this race great. As a mom and a survivor, there is no other place I want to be on April 26.”

Bielema is a retired day care operator and still lives Prophetstown, Ill., where she and Arnie, her husband of 53 years, raised their family.

 “As a fellow survivor, I have been inspired by Marilyn’s story, “said Kari Nikolish, president of the Komen Ozark Affiliate board of directors.  “She is a passionate advocate for women’s breast health and I admire her courage.  We are very fortunate to have such an enthusiastic champion come be part of the Komen Ozark team this year.”
 
This is the 16th year the race will be held in Northwest Arkansas and the sixth year racers will run the course at the Pinnacle Promenade in Rogers. Registration is open and teams are currently forming.
 

The National Retail Federation said it has called on the U.S. Congress to quickly approve a “trade promotion authority” bill that would speed consideration of trade agreements brought to them by the president.

“Passage of this measure will commit the country and our policymakers to a 21st century trade agenda that reflects and is responsive to the global supply chain,” said NRF CEO Matthew Shay. “Opening up new markets for imports and exports benefits the nation’s manufacturers, retailers and consumers alike.”

Lawmakers unveiled the legislation today (Jan. 9) which would mean Congress approves trade pacts with an up-or-down vote without amending them. If passed this would apply to trade agreements for the next four years.


Shay said the legislation is seen as critically important in order for the United States to conclude ongoing trade negotiations with Asia and Europe, including the Trans-Pacific Partnership and Transatlantic Trade and Investment Partnership.


The bill was introduced by ranking legislators – Max Baucus, D-Mont., and Orrin Hatch, R-Utah in the Senate and Dave Camp, R-Mich., in the House – despite concern voiced from both parties that Congress could be cut out of the negotiations if they agree to rushing through trade pacts.


Shay argued that the trade agreements that could will follow this approved legislation will likely strengthen the nation’s recovery and provide the framework for future economic and employment growth.

“New trade promotion authority provides our nation’s trade negotiators with the clarity and flexibility they need to deal with our current and future trading partners,” Shay said.

• Barnes & Noble names new CEO
Barnes & Noble Inc. promotes Michael Huseby to be its next CEO. This management change was announced by the board of directors today, Jan. 9.

Huesby has served as the retailer’s chief financial officer and president as CEO William Lynch departed in July amid struggling sales among the retailer’s 670 stores and its Nook e-reader market.

Analysts said this move was a “safe play” given Huesby understands the company and the direction Barnes & Noble wants to move toward.

• Macy’s to slash 2,500 jobs

Department Store giant, Macy’s said it will reduce its workforce by 1.4% with the elimination of some 2,500 jobs as it seeks to generate $100 million in cost savings.

This week the retailer, reported a 4.3% rise in same-store sales for the holiday season, but also announced plans to close five namesake stores, open five others and add three new Bloomingdale's locations.

"We have identified some specific areas where we can improve our efficiency without compromising our effectiveness in serving the evolving needs of our customers," Macy's CEO Terry Lundgren.


• Bloom exits Family Dollar after weak results

Family Dollar Stores Inc. said Michael Bloom, its president and chief operating officer has resigned to pursue other interests. 

The announced came Thursday, (Jan. 9) as the retailer reported weaker than expected quarterly result and cut its fiscal-year outlook.

 The lackluster results were linked to forced deep discounting throughout the holiday season, as the retailer tried to win its share of shopper amid a very competitive climate. 

Family Dollar began selling tobacco products and renovated thousands of stores this past year and while those efforts lured more customers, they also resulted in margin pressure and higher store manager turnover, CEO Howard Levine told investors.

Family Dollar slashed its earnings outlook for the fiscal year to a range of $3.25 to $3.55 a share. It previously had called for $3.80 to $4.15, citing more competition from other discounters and looming macroeconomic challenges.

Net income fell to $78 million, or 68 cents a share, in the first quarter ended Nov. 30 from $80.3 million, or 69 cents a share, a year earlier. Analysts on average were expecting a profit of 69 cents a share.
 Net sales rose 3.2% to $2.50 billion, but missed the analysts' estimate of $2.51 billion. Comparable sales declined 2.8% from a year ago.

Skot Covert, a native of Ozark and recent graduate of Arkansas Tech University, has joined Impact Management Group as director of Digital Media.

In this new capacity, Covert will be responsible for directing digital strategy for corporate and political clients to include website design, social media campaigns, and digital marketing.

“Skot is very talented and will add a lot of energy to our firm and give us the capability to offer digital support to our clients,” said Richard Bearden, the firm’s Managing Partner.

Covert is the National Co-Chairman of the College Republican National Committee and previously served as the state chairman of the Arkansas Federation of College Republicans. He graduated ATU with a degree in emergency administration and management.

Covert is excited about the new opportunity.

“Regardless of what you do, there is great value in being part of a team,” said Covert. “Impact Management Group is one of the market leaders in corporate and political communications and is full of very talented people. I’m excited about the opportunity to be part of that team and add value to what they do.”

Impact Management Group is a Little Rock based public strategy firm specializing in public relations, public opinion, and public affairs. They are entering their 15th year of business.

Tupelo, Miss.-based BancorpSouth is buying Ouachita Bancshares, a small regional bank with based in Monroe, La., and holding assets of $652.5 million.

BancorpSouth, which has more than $12.9 billion in assets, is acquiring the bank in a cash and stock deal with a top value of $112 million. Ouachita has Louisiana bank offices and branches in the Monroe-West Monroe area, Shreveport-Bossier City area and in Bastrop.

"We are very pleased to announce the first bank transaction for our Company since 2007," Dan Rollins, CEO of BancorpSouth, said in a statement. "We are excited about the opportunity to partner with the professionals at OIB. This transaction will give us the opportunity to significantly enhance our market share in both the Monroe-West Monroe and Shreveport-Bossier City markets. It will also provide an opportunity to enter the Bastrop market, a market which we've not previously served."

Clyde White, who recently retired from active day-to-day management of OIB, will continue to serve as chairman of the Board of OIB until the merger is completed. Kevin Koh will continue to serve as OIB's CEO until the merger is completed. After that date, he will become BancorpSouth's Division President with responsibility for Northeast Louisiana markets including Monroe-West Monroe.

Lee Copeland, BancorpSouth's Division President for North Louisiana will continue to serve as Division President for BancorpSouth's Northwest Louisiana markets including Shreveport.

The merger has been unanimously approved by the Boards of both companies and is expected to close during the second quarter of 2014. The transaction is subject to the approval by OIB's shareholders and typical state and federal agencies.

BancorpSouth Bank operates 292 commercial banking, mortgage, insurance, trust and broker/dealer locations in Alabama, Arkansas, Florida, Louisiana, Mississippi, Missouri, Tennessee and Texas, including an insurance location in Illinois.

Conner Eldridge, United States Attorney for the Western District of Arkansas, announced Thursday (Jan. 9) that Douglas James Christopher, 60, of Valparaiso, Ind., was sentenced today for knowingly transporting a minor from Oklahoma to Arkansas with the intent to engage in sexual activity.

Christopher was sentenced to life imprisonment without the possibility of parole. The sentencing took place before U.S. Federal Judge P.K. Holmes III in United States District Court for the Western District of Arkansas in Fort Smith.

“This defendant, like others involved in the Alamo organization, engaged in horrendous conduct involving sexual abuse of a minor child. I appreciate the tireless work of law enforcement and our office to bring sexual perpetrators to justice. We will not rest in our efforts to identify, investigate, and prosecute those who abuse our children,” Eldridge said in a statement.

According to court records, Christopher, a member of the Tony Alamo Christian Ministries, previously resided at an Alamo compound located in Muldrow, Okla. In September 2008, a law enforcement raid of Alamo’s compound in Fouke, Ark., caused Alamo satellite-compound residents to go into hiding. Christopher and other followers relocated to Valparaiso, Ind.

While living in Oklahoma, Christopher was assigned to stand watch at properties under the organization’s control. One location, on Division Street in Fort Smith, Arkansas, was known as the “mechanic’s shop.” Beginning around June 2003, Christopher began transporting a minor, whose mother he had married in 2000, from the family’s home in Oklahoma to the mechanic’s shop for the purpose of engaging in sexual intercourse. Specifically, in August 2008, when the minor was 13 years old, Christopher transported the minor to the mechanic’s shop where they then had sexual intercourse in a van parked inside the shop. Shortly after this trip, the minor and siblings were taken into protective custody in response to the federal investigation of Tony Alamo.

This case was investigated by the FBI Special Agent Timmy Akins and Fort Smith Police Department Detective Kris Deason.  Assistant United States Attorney Kyra Jenner prosecuted the case for the United States.

BancorpSouth got Wall Street’s nod of approval for the acquisition of Ouachita Bancshares, a deal analysts said will likely push the bank’s earnings and share price higher this year.


RBC Capital raised its target stock price for BancorpSouth from $23 to $27 based on accretive earnings it expects in 2014 from the combined operations.


This acquisition is the first for BancorpSouth since 2007. Analysts with Stern Agree expects the deal will benefit earnings by 10 cents per share annually, assuming 30% cost savings and a 4% mark on the loan portfolio.


Peyton Green, analyst with Stern Agee, said more importantly the deal allows BancorpSouth to build scale and market share in the Shreveport-Bossier CIty and Monroe, La. metro areas.


BancorpSouth will issue a maximum of 3.675 million shares and $22.875 million in cash to shareholders of Ouachita Bancshares.


“We believe the  pro forma footprint will operate with 15-16 branches in Shreveport (2-3 closures) and Monroe (3 closures) versus 21 pre-deal for the two banks,” Green noted.


On a pro forma basis, BancorpSouth’s market position will improve to No. 4 with 9.6% share in Shreveport-Bossier City versus No. 5 with 7.2% share prior to the deal. In the Monroe metro area market share will improve to 13.2% versus 3.3%. 


Despite the positive notes, Bancorp South shares dipped on Friday, trading at $24.69, down 9 cents at the noon hour amid broader market sell-offs related to the lackluster jobs report.

A recent survey released in conjunction with the annual Consumer Electronics Show found that more than half of consumers polled believe mobile devices will replace television sets by 2022.


Media services company Irdeto, reports that its own research shows 53% of consumers believe mobile devices like smartphones and tablets will replace television sets in the next eight years as the preferred way to watch TV and movies.


Some 31% of those surveyed believe the change will occur sooner — in the next one to five years.


Over 30% of respondents believe they will be using a smart TV to watch movies and television within five years; 6% believe it will be gaming consoles; 6% said streaming devices like Roku will be popular; 5% point to tablets and mobile phones; and 2% cite devices, such as Google Chromecast.


Other results include:
• 65% of consumers still prefer to watch their favorite content live — either on their television or streaming on a mobile device.
• 60% of consumers ages 18 to 24 said they prefer viewing full series at once — so-called binge viewing.
• 18% said they are very interested in buying a 4K TV/Ultra HDTV
• 40% said they are somewhat interested
• 27% said they are not very interested
• 16% showed no interest at all in purchasing a 4K TV/Ultra HDTV

(The survey was conducted among 1,000 U.S. adults ages 18 and older between Dec. 17 and 23)

On Sunday, (Jan. 12) the National Retail Federation announced the election of six new members to its board of directors as retailers from around the globe gathered in New York for Retail’s BIG Show. The new additions will each serve a three-year term.

“These executives are among the top thought leaders in the world of retail and will only strengthen an already diverse and well-respected board,” NRF President and CEO Matthew Shay said. “Their knowledge and experience will be invaluable as we address the many issues facing retailers at a time when our industry is rapidly changing.”

The new board members include:

• Bill Simon, CEO of  Walmart U.S.

• Mike Ullman, CEO of J.C. Penney

• Greg Sandfort, CEO of Tractor Supply

• Steve Knopik, CEO of Bealls

• Dave Davis, president of Utah Retail Merchants Assoc.

• Lori Mitchell-Keller,  head of global retail business unit at SAP

A recent survey report released by Bankrate.com revealed slight more than one in four Americans (26%) spent less than they expected during the holiday shopping season. Only 14% of Americans spent more than expected; more than half (57%) spent about what they expected.

The tightfistedness was fairly universal, Bankrate.com notes, as no age group collectively spent more than expected. The highest-income group (those with annual household incomes of $75,000 or more) was the only demographic more inclined to have spent more rather than less this holiday season.

Bankrate.com’s latest Financial Security Index results, however, tell a more upbeat story about consumers’ finances. The Financial Security Index hit a seven-month high of 102.6 in January (readings above 100 illustrate improved financial security versus one year ago). The most prominent areas of improvement were consumers’ comfort levels with debt and feelings about their overall financial situations.

“The U.S. economy has definitely carried some momentum into 2014, but it’s still a slow-growth economy with high unemployment and stagnant household income,” said Greg McBride, CFA, Bankrate.com’s senior financial analyst. “Consider that the economy has hit a rough patch each year of the recovery, usually in the first half of the year, and has underperformed the Fed’s estimates year-in and year-out. I expect similar results in 2014.”

Compared to one year ago, consumers noted improvement on four of the Index’s five components: debt, overall financial situation, job security and net worth. While Americans are still, by and large, feeling negative about the fifth component (savings), the numbers are improving.

This month’s reading on savings is the least negative it has been since polling began in Dec. 2010. At present, those feeling less comfortable with their savings compared to one year ago outnumber those feeling more comfortable by a three-to-two margin.

Senior citizens (ages 65+) are more likely than other age groups to say their financial situation is worse today than it was one year ago. Among income groups, only the lowest-income households (under $30,000 per year) report that their overall financial situation is worse now.

The Austin-based Tex-Mex Chuy’s restaurant will officially open its doors in Rogers tomorrow, Jan. 14, at 11 a.m. The restaurant is located at 4889 W. Pauline Whitaker Pkwy., near the Pinnacle Promenade.

“We’re so excited to open our doors and introduce authentic Tex-Mex to Northwest Arkansas,” said local owner/operator Jason Crane.

The new restaurant added 175 jobs to this growing region and has also began giving back to the local community. Chuy’s partnered with Spay Arkansas in December and recently announced their community charity focus with Northwest Arkansas Sunshine School and Development Center.

Chuy’s has a rich 30-year history featuring authentic Tex-Mex cuisine, an Elvis Shrine, wall of local dogs photos, metal palm trees and hubcap-covered ceiling. Happy hour is offered Monday through Friday from 4 to 7 p.m. and features fully loaded nacho bar housed in the trunk of a classic car.

Harrison-based First Federal Bancshares recently outlined the terms of a pending name change to Bear State Financial and a private placement totaling $20 million, if approved by shareholders during a special meeting on March 5.

The terms were made public in a filing with the Securities and Exchange Commission on Friday (Jan. 10).

The meeting was called to give shareholders an opportunity to vote on the bank’s acquisition of First National Security Co. of Hot Springs — a $151 million deal announced in July.

Also proposed is a private placement involving the sale of 2.5 million shares to Bear State Financial Holdings — the largest shareholder of First National Bancshares. The value of this private placement is $20 million and would also result in a name change to Bear State Financial trading under ticker symbol (NASDAQ:BSF), according to the filing.

The proceeds of the private placement will be used to fund a portion of the cash paid to First National Security shareholder and raise additional capital.

Bear State Financial Holdings controls more than 15.6 million shares, roughly 78% of First Federal's outstanding shares.

Shareholders will also consider the authorization of an additional 70 million shares to accommodate the private placement and acquisition of First National Security.

Union members at Tyson Fresh Meats beef plants ratified a new five-year labor agreement on Saturday, Jan. 11.

The deal solidified raises of $1.60 per hour over the terms of the agreement for more than 3,500 union packers employed by Tyson Foods Inc.

The contract took effect immediately and according to the release, the pay bump raises the plant’s top hourly wage to $18.15 for processing and $16.80 for slaughter. Top maintenance pay over the course of the contract is $19.95 per hour. The union members agreed to work all scheduled hours and adhere to the plant’s safety protocol.

The deal also elevated starting pay for beef processing to $13.92 per hour, $14.10 per hour for slaughter and maintenance worker starting pay is $17.55 per hour.
 The workers are members of the United Food and Commercial Workers Union.


“We believe the new contract will benefit our team members and help ensure the continued success of the Dakota City beef complex,” said Bruce Pautsch, vice president of human resources operations for Tyson Fresh Meats.

He said the meat company works closely with the local union and has done so for years.

Financial media firm 24/4 Wall St. recently released its top 10 list of hated companies for 2013. The ranking is based on protests from workers or disenchanted shareholders. Out of the top 10 selections, five were retailers.

Many of the most-hated companies are quite profitable, with millions of customers and rank among the nation’s largest employers.

1. McDonald’s
2. Abercrombie & Fitch
3. Electronic Arts
4. Sears Holdings
5. Dish Network
6. Wal-Mart Stores Inc.
7. J.P. Morgan Chase
8. lululemon
9. BlackBerry
10. J.C.Penney

Greenwood Mayor Del Gabbard has resigned from his post with a year left in office. Gabbard, who won office in November 2010, said he was resigning for health reasons.

"It is not in my nature to quit a job before it is completed," he wrote. "But given my medical problems and the toll that this job has taken over the past two years I owe this decision to my family."

His resignation, effective Jan. 13, leaves Mayor Pro Tempore Jim Gossett carrying out the mayor's duties as chief executive officer of the city until an election is held to replace Gabbard. It is unclear if a special election would be held or if the city would leave the post vacant, having the winner of the November 2014 general election as successor to Gabbard.

Whoever takes over the city will inherit a city prepared for the future, the mayor said in his resignation letter addressed to the "City Council and Citizens of Greenwood."

"I do believe that we have built a fiscal foundation upon which Greenwood can grow to new heights," he said. "This city's best days will always be ahead!"

FULL STATEMENT
Dear City Council and Citizens of Greenwood,

I resign the position of Mayor of Greenwood, Arkansas, effective immediately. I am extremely proud of the record we have built together. We have turned a corner. My my only regret is that I will not be beside you to see our work through to an end. It is not in my nature to quit a job before it is completed. But given my medical problems and the toll that this job has taken over the past two years I owe this decision to my family. I do believe that we have built a fiscal foundation upon which Greenwood can grow to new heights. This city's best days will always be ahead!

Sincerely yours,
Del Gabbard, Private Citizen

Keith Peterson has been named dean of workforce development at NorthWest Arkansas Community College and will begin his new duties on Jan. 21.

He will have the primary responsibility for providing strategic leadership, direction, and management for all efforts related to non-credit education and training as well as credit culinary and hospitality programming.

Peterson also will be responsible for providing administrative leadership in the development of workforce education that addresses the needs of local, regional and global businesses and industries.

The dean will report to Tim Cornelius, vice president of learning: global business, health professions, and external programs.

Peterson comes to the college from Northwest Technical Institute in Springdale, where he worked as vice president of instruction since May 2011. In that capacity, Peterson provided leadership to 45 full and part-time instructors. He also managed industry advisory boards and reviewed recommendations to provide maximum benefit for relevant industry and community demands.


Prior to the vice president role, Peterson served as resources coordinator at NTI. He also worked for five years as assessment and curriculum program supervisor for the Arkansas Department of Career Education.

“We are pleased to have someone with Keith’s experience and commitment to workforce training and career education,” Cornelius said. “His ability to foster relationships with the business community and to meet the needs of a rapidly changing work environment will be invaluable to the College’s workforce education initiatives.”

• PetSmart's O'Leary to retire
PetSmart Inc. announced changes to its management team and organizational structure in conjunction with the retirement of Joseph O’Leary, president and chief operating officer. These changes will become effective April 4.

“Joe has been an integral part of PetSmart’s success for many years and we wish him all the best moving forward. On behalf of everyone at PetSmart, I want to thank Joe for his leadership and dedication to the company, our associates and our customers,” said CEO David Lenhardt.

PetSmart said it does not intend to replace the chief operating officer position and will realign these responsibilities among four newly created executive vice president positions, with Lenhardt assuming the title of president and CEO.

Lenhardt said the retirement provided the company the opportunity to take a fresh look at its organizational structure and establish a leadership team that will work to promote future growth and deliver shareholder value.

In addition, PetSmart will be conducting a search for a new chief information officer to replace Don Beaver, who will also retire.

The following leaders will be named to the newly created EVP roles:
• Carrie Teffner will now serve as EVP and CFO overseeing finance and information systems.
• Matt McAdam will now serve as EVP of merchandising and real estate.
• Bruce Thorn will now serve as EVP of store operations and supply chain.

• Jewel-Osco president resigns
Less than a year after taking the reins, William Emmons is retiring as president of Jewel-Osco, Chicago's largest grocery chain, according to the Chicago Tribune.

Emmons came out of retirement in March to run Jewel after it was acquired by Idaho-based New Albertsons as part of a $3.3 billion deal, Emmons announced his decision Tuesday (Jan. 14).

Jim Rice, who was named vice president of operations for Jewel-Osco in August, has been elevated to run the 180-store grocery chain on an interim basis.

Rice previously worked for Albertsons for more 35 years.

Jewel seeks to refresh its stores and expand its market share in the wake of the recent shuttering of the rival Dominick's chain having remodeled 18 locations last month, and this week is converting four stores acquired from Dominick's to the Jewel banner.

Emmons has spent nearly five decades in the grocery business, retiring from Albertsons in 2011 after 40 years with that supermarket chain.

During his tenure at Jewel, Emmons oversaw a number of initiatives including the chain's decision to drop its preferred customer card in June. Other changes include the phasing out of self-checkout, brightening the stores, expanding fresh offerings and a new dress code for employees.

A groundbreaking was held Wednesday (Jan. 15) on a new 12,200-square-foot office building at Chaffee Crossing that will be a regional office for APAC-Central Inc.

The $1.5 million building, located at 1010 Frontier Road in Barling, will be built by Chaffee Commercial Properties which is owned by Steve Beam and Rod Blake.

APAC-Central, formerly known as Arkhola Sand and Gravel, employs 675 people in two states. The new office will be house 25 people and will support 245 jobs in the Fort Smith area. For many year, Arkhola and APAC offices were located in downtown Fort Smith in the Ward-Garrison building.

The company began in Oklahoma in 1911, and was moved to the Fort Smith area in 1926. Arkhola sold to Oldcastle Materials in 2006, and was renamed APAC-Central, Inc. in 2009.

“This is the first private development to be built on Fort Chaffee Redevelopment Authority property inside the city limits of Barling and Barling officials have been great to work with,” Steve Beam said in a statement issued by the Fort Chaffee Redevelopment Authority. “We are very interested in building offices for other companies seeking long-term leases so we hope this is only the first of many.”

Park Estes, vice president of marketing and sales says APAC-Central, said the new office is in the middle of company operations in the area. Also, Estes said Arkhola has a history with the Chaffee area.

“Arkhola was the first company to pour concrete at Fort Chaffee in 1941. The land where our new office will be located was formerly part of Fort Chaffee,” Estes noted in the statement.