Quantcast
Channel: People & Business News
Viewing all 1317 articles
Browse latest View live

Wal-Mart acquires Adchemy

$
0
0

Walmart.com welcomed 60 new employees this week from the acquisition of Adchemy, a product search company that was founded in 2004. WalmartLabs blogger Jeremy King notes that the Adchemy team adds talent in semantic search, data analytics and marketing.

“Walmart isn’t a retailer in Silicon Valley, we’re building an Internet technology company inside the world’s largest retailer. We are 2,100 strong and growing,” King noted in his May 6 blog entry.

Adchemy is WalmartLabs twelfth acquisition since Labs’ creation, and one of the largest to date in terms of people.

“This latest acquisition continues our quest to build best-in-class e-commerce capabilities in-house. We have been hiring highly-talented teams organically and are augmenting that by acquiring talent to build our own technologies that can scale with our global business,” King writes.

Among the talent joining WalmartLabs are Rohit Deep who was the vice president of engineering and Ethan Batraski who served as vice president of products, formerly the head of search innovation at Yahoo!. Data scientist Esteban Arcaute, head of research, who holds a PhD from Stanford and also worked at Yahoo!, King said.

He said WalmartLabs has hired nearly 1,000 new employee during the past year.

“The result of this approach is a highly-talented workforce delivering high-impact products. Our internal search engine, built by the Kosmix team, took only nine months to ship and led to a 20% increase in search conversion. Inkiru technology was integrated within four months after the team joined, and today their predictive analytics platform is applied to 100% of our transactions. Here’s a snapshot of the key acquisitions @WalmartLabs has made in the last three years:

Five Star Votes: 
Average: 4(1 vote)

Washington Regional Medical Center names new chief nursing officer

$
0
0

Beverly Winney, RN, MSN, is the new chief nursing officer at Washington Regional Medical Center. Promoted to chief nursing officer, she is a member of the hospital’s executive team and reports to executive vice president and administrator Mark Bever.

Since 2008 she has served as assistant chief nursing officer at Washington Regional, working alongside Claudia Williams, who recently retired after eight years as chief nursing officer.

Winney earned a bachelor’s degree in nursing from the University of Memphis and a master’s degree in nursing from the University of Southern Mississippi. Winney brings extensive experience to the position, having served a total of 13 years as chief nursing officer at Northwest Medical Center-Bentonville and Helena Regional Medical Center in Helena-West Helena.

Five Star Votes: 
Average: 5(1 vote)

The Supply Side briefs: Acquisitions by Snyder’s Lance and Bayer

$
0
0

• Synder’s Lance to acquire Baptista’s Bakery, shedding private brands

Snyder's-Lance announced plans to acquire Baptista's Bakery Inc., a baked snack foods and better-for-you snack company that makes Snack Factor Pretzel Crisps.

This transaction supports efforts by Snyder's-Lance to sharpen its focus on our branded products in growth categories such as "better for you" and other emerging products which are driven by consumer preferences and insights.

"Baptista's is a leader in highly differentiated snacks, and we're excited to be working with their talented, creative team" said Carl E. Lee, Jr., president and CEO of Snyder's-Lance. "Baptista's is a company that has excelled in providing exceptional product quality and innovation while commercializing production in ways that are effective and unique”

He said the two companies’ brands will complement each other and their cultures are also a good fit.

“We are committed to retaining and growing the Franklin, Wisc., facility, which is strategically well positioned within our network. By combining the resources and expertise of Baptista's with the scale of Snyder's-Lance, we will accelerate our ability to deliver exciting, on-trend snacks and product innovation while expanding our 'better for you' products and gaining needed capacity for our growing Snyder's of Hanover pretzels.” 

Snyder’s Lance also has agreed to sell its private brands along with two manufacturing facilities in the U.S. and Canada to Shearer's Foods, a provider of private label snacks headquartered in Massillon, Ohio. The sales price is $430 million.

Consistent with the Snyder's-Lance strategic plan, this transaction will allow Snyder's-Lance to focus entirely on its branded products by placing more resources to work on growth categories such as "better for you," nutritional and premium snacks, the company said.

"This transaction is an important step forward for Snyder's-Lance as we dedicate our attention to our branded portfolio," Lee said. Looking forward for Snyder's-Lance, we believe focusing more completely on our branded products will create better long term shareholder value as we grow organically through product innovation and the acquisition of additional core brands.”

Completion of the transaction is subject to regulatory approvals and Shearer's obtaining financing for the transaction as well as customary closing conditions and is expected to close in the second quarter of 2014. 

Synder’s Lance is a supplier to Wal-Mart Stores Inc. with sales office Bentonville.

• Bayer to buy Merck’s customer care division

Bayer announced plans to acquire Merck’s consumer care division including such retail shelf staples as Claritin, Coppertone and Dr. Scholl’s for a reported $14.2 billion. This deal will make Bayer the No. 2 company in over-the-counter sales once the transaction is closed.


“Merck never found the support it sorely needed from Dr. Scholl’s and other brands, so it has decided to seek relief with a dose of Bayer,” writes the Star-Ledger’s Alexi Friedman on NJ.com.

About 70% of Bayer's consumer product sales are in the U.S. and Bayer sees opportunities to grow sales globally with this consumer division.The merged consumer care business will be based in Whippany, N.J.

Merck acquired many of the brands in the consumer division from its 2009 purchase of Schering-Plough. Analysts point out that consumer over-the-counter market is not part of Merck’s strategic plans and selling it off was not a surprise.

Bayer and Merck also agreed to collaborate on the development and commercialization of new cardiovascular medications. As part of this deal Merck agreed to pay Bayer $1 billion upfront and as much as $1.1 billion for hitting sales milestones.

Bayer is a supplier to Wal-Mart Stores Inc. with local offices in Northwest Arkansas.

Five Star Votes: 
Average: 5(1 vote)

Retail imports to improve amid port labor negotiations

$
0
0

Import volume at the nation’s major retail container ports is expected to increase 3.5% in May as negotiators prepare to begin talks on a new contract for West Coast dockworkers, according to the monthly Global Port Tracker report released May 7 by the National Retail Federation and Hackett Associates.

“We’re expecting a lot of cargo to move through the ports this summer and we want to make sure there aren’t any supply chain disruptions that would impact the cargo flow,” said Jonathan Gold, NRF vice president. “We hope there won’t be any issues, but the sooner labor and management can agree on a new contract, the better it will be for everyone who relies on the West Coast ports.”

Representatives of the Pacific Maritime Association and the International Longshore and Warehouse Union are scheduled to begin negotiations next week on a new contract to replace the current agreement that expires June 30. NRF has urged both sides to avoid any disruptions that could affect the flow of back-to-school or holiday season merchandise.

West Coast ports handle more than two-thirds of U.S. retail container cargo each year, including the bulk of cargo from Asia. The last major shutdown there occurred in the fall of 2002, closing ports for 10 days and creating a weeks-long backlog to be cleared.

U.S. ports followed by Global Port Tracker handled 1.3 million containers (20-foot) in March, the latest month for which after-the-fact numbers are available. The number was up 5.1% from February, traditionally the slowest month of the year, and up 14.5% from March 2013.

April was estimated at 1.38 million containers, up 6.1% from the same month last year. May is forecast at 1.44 million containers, up 3.5% from last year; June at 1.43 million containers, up 5.6%, according to NRF.

The total for 2013 was 16.2 million containers up 2.3% from 2012. The import numbers come as NRF is forecasting 4.1% sales growth in 2014. Cargo volume does not correlate directly with sales but is a barometer of retailers’ expectations.

“Most economic fundamentals are pointing in the direction of continued, sustained recovery in consumer demand and import volumes,” Hackett Associates Founder Ben Hackett said. “This is turning out to be the longest period of growth for some time now.”

Five Star Votes: 
No votes yet

NWACC commencement slated for May 10

$
0
0

NorthWest Arkansas Community College will host its credit commencement ceremonies on Saturday, May 10, at Arend Arts Center in Bentonville. Almost 500 students are expected to participate in ceremonies at 9 a.m., noon and 4 p.m. A total of 941 graduates have made application to receive 1,150 credentials, the college said.
 
Bob Crafton and EvaLena Mayo are scheduled to receive honorary degrees. Crafton will receive an honorary associate degree of entrepreneurial leadership, and Mayo will receive an honorary associate degree of educational service.

Distinguished graduates to be honored are Bethany Hollis, Myrlinda Huff and Lemanuel Allen. NWACC distinguished faculty members to be honored are Denise Nemec, Sandy Tedder and Alan Clark.

Raul “Rulli” Torres will be recognized as the recipient of the Dick Trammel Distinguished Alumni Award. This is the first commencement for college president Dr. Evelyn E. Jorgenson, who became NWACC’s chief executive on July 1, 2013.
 

Five Star Votes: 
No votes yet

SFC Fluidics raises $2 million in funding

$
0
0

A new disposable insulin patch pump, smaller than any pump on the market, is in development from Fayetteville-based SFC Fluidics Inc., a medical device and diagnostics company.

SFC Fluidics recently closed a $2 million, Series B investment round that will help it to commercialize the pump, with a footprint of less than two inches in diameter. The battery-powered pump offers high precision, pain-free dosing over a wide range of delivery rates, the company said in the release.

SFC will initiate clinical studies in 2015, involving up to 50 patients, to demonstrate the pump's effectiveness. The device is expected to be market ready in 2016.

“Several of our medical devices will enter the market within the next three years," said SFC Fluidics CEO Anthony Cruz. "Having a partner who has manufactured devices in facilities compliant with the FDA and European regulatory agencies can only enhance our success."

Diabetes is a disease affecting roughly 26 million Americans. Roughly 4 million of these suffer from type 2, adult-onset diabetes and are insulin dependent, and these patients represent SFC's initial market.

Five Star Votes: 
No votes yet

Beebe names 21 to Arkansas boards and commission

$
0
0

Gov. Mike Beebe on Wednesday (May 14) announced the following appointments to boards and commissions:

Theresa Brassfield, Blytheville, as the Mississippi County Judge, until such time as the elected county judge is physically able to resume his duties. Replaces The Honorable Randy Carney.

Dr. Lisa Christensen, Little Rock, to the Universal Newborn Hearing, Screening, Tracking and Intervention Advisory Board. Appointment expires Jan. 14, 2017. Replaces Millie Sanford.

Walter Fenton, Rogers, to the Arkansas Towing and Recovery Board. Appointment expires June 22, 2015. Replaces Tommy Brown.

Danny Finch, Jonesboro, reappointed to the State Plant Board. Appointment expires March 17, 2016.

William Hall, Jonesboro, reappointed to the Arkansas State Board of Architects, Landscape Architects and Interior Designers. Appointment expires April 26, 2019.

Jessyka Hanna, Hot Springs, to the Amusement Ride Safety Advisory Board. Appointment expires March 1, 2018. Replaces Kirby Taylor.

Maurice Henry, Fulton, reappointed to the Arkansas Fire Protection Licensing Board. Appointment expires April 1, 2019.

George Krennerich III, Jonesboro, reappointed to the Arkansas State Board of Architects, Landscape Architects and Interior Designers. Appointment expires April 26, 2019.

Suzanne Laffoon, Searcy, reappointed to the Arkansas State Board of Architects, Landscape Architects and Interior Designers. Appointment expires April 26, 2019.

Tommy Lalman, Palestine, reappointed to the Arkansas Beef Council. Appointment expires March 30, 2017.

Kelly Lasseigne, Little Rock, to the Arkansas State Board of Athletic Training. Appointment expires Jan. 14, 2017. Replaces Lonnie Weber.

Johnny Fred Miller, Sr., Greenbrier, reappointed to the Amusement Ride Safety Advisory Board. Appointment expires March 1, 2018.

Gene Pharr, Lincoln, reappointed to the Arkansas Beef Council. Appointment expires March 30, 2017.

Sherman Rochell, Jr., Star City, reappointed to the Criminal Detention Facility Review Committee for Judicial District #11 West. Appointment expires Jan. 14, 2018.

Elise Siegler, Scott, to the Alzheimer's Advisory Council. Appointee serves at the will of the governor. Replaces Phyllis Watkins.

James Thompson, Clarendon, reappointed to the Arkansas Fire Protection Licensing Board. Appointment expires April 1, 2019.

Jeanne Tribett, Little Rock, reappointed to the Arkansas School for the Blind and Arkansas School for the Deaf Board of Trustees. Appointment expires Jan. 14, 2019.

Paul Turchi, D.V.M., Fayetteville, to the Veterinary Medical Examining Board. Appointment expires March 1, 2019. Replaces Lyndon Tate, D.V.M.

Ellen Turner, Rogers, to the Arkansas Natural Heritage Commission. Appointment expires Jan. 14, 2023. Replaces James "Manuel" Barnes.

Leonard Wilson-Banks II, Grady, to the Criminal Detention Facility Review Committee for Judicial District #11 West. Appointment expires Jan. 14, 2017. Replaces Melinda Elliott.

Weldon Wynn, Star City, to the Amusement Ride Safety Advisory Board. Appointment expires March 1, 2018.
 

Five Star Votes: 
No votes yet

Buster named Arvest community lender in Gravette

$
0
0

Arvest Bank has named Eric Buster as a community lender in the bank’s Gravette branch.

Buster has worked for Arvest Bank for the past two years. He began in Arvest’s customer service center and worked his way to senior financial sales representative and then commercial loan assistant.

“Eric has demonstrated a deep understanding of the type of first-rate customer service for which Arvest Bank is known,” Jim Singleton, Arvest Bank Community President, Gravette, said in a statement. “He listens to the customers’ financial goals and is diligent in helping them achieve those goals.”

A graduate of Greenwood High School, Buster attended the University of Arkansas at Fort Smith before transferring to Arkansas Tech, where he graduated in 2011 with a bachelor ‘s degree in biology.

Arvest Bank operates more than 260 bank branches in Arkansas, Oklahoma, Missouri and Kansas through a network of 16 locally managed banks, each with its own board and management team.

Five Star Votes: 
No votes yet

Auxiliary at Northwest Medical Bentonville garners award

$
0
0

The volunteer auxiliary of Northwest Medical Center – Bentonville won the American Hospital Associations (AHA) award for volunteer excellence for their “Sock-It-To-Me” program collecting over 2,000 pairs of new socks for disadvantaged children in the community.
 
“We are thrilled to receive this award for a program inspired by the real childhood experience of one of our volunteers, “ JB Johannsen, president, volunteer auxiliary said.  “There was a time in her childhood during which she said, ‘Happiness was a new pair of socks.’  We were so moved, we took up the cause with a great shared enthusiasm.”
 
The formal awards ceremony was be held on May 5 in Washington, DC at the American Hospital Association’s 2014 annual meeting where Johannsen accepted the award on behalf of the local volunteer auxiliary.
 
The 2014 drive will generate donations of children’s underwear which is a much needed item for this underprivileged population.
 
“We feel blessed to be able to come together to help the children in our community in this way,” Cindy Sadler, volunteer Coordinator, Northwest Medical Center – Bentonville said. “Our volunteers not only give our patients their time and kindness, they then extend that generosity of spirit to the community!” “Our employees and now even some of our patients who have heard about the drive are giving to help us buy more for the kids,” she said.

Five Star Votes: 
No votes yet

Wal-Mart to hire 95 for new Farmington store

$
0
0

Wal-Mart plans to fill up to 95 new jobs being created at its Neighborhood Market in Farmington that is slated to open this summer.

A temporary hiring center has opened inside the Walmart Supercenter located at 2875 W. Martin Luther King Jr. Boulevard in Fayetteville. Applications will be accepted from 8 a.m. to 5 p.m., Monday through Friday and applicants may also apply online.

According to store manager Jesse Pinkston, the store will be hiring full- and part-time help.

“I began with Walmart in 1997 as an hourly associate and have moved my way up in the company. I look forward to meeting others who want to build careers here at Walmart,” said Pinkston.

The majority of new employees will begin work in July to help prepare the store for its grand opening. Walmart provides a benefits program to eligible full- and part-time associates.

Through Walmart’s Veterans Welcome Home Commitment, the company will offer a job to any qualified veteran who has been honorably discharged within the past 12 months. Interested veterans may find out more at Walmart Careers.

Five Star Votes: 
No votes yet

The Supply Side briefs: Cargill trims workforce, Kellogg helps rice growers

$
0
0

• Cargill to reduce meatpacker jobs
Tightening cattle supplies is prompting Cargill Meat Solutions to downsize the workforce at its Dodge City, Kansas plant, according to Cargill spokesman Mark Klein.

The meat giant, a beef and turkey supplier to Wal-Mart Stores Inc., said it began talking to employees this week and does not have a firm number on how many could be laid off or reassigned.

Estimates reported by Meat & Poultry from local news sources estimate about 300 workers could be affected. The plant employs more than 2,000 workers.

Cargill said it’s trying to align plant production with reduced available supply of cattle for slaughter in this region, stemming from persistent drought which forced herd liquidations over the past two years.

The U.S. cattle herd is the smallest it's been in 60 plus years, according to the U.S. Department of Agriculture. As of Jan. 31, cattle and calves totaled 87.7 million head, down 2% year-over-year.

Klein said decisions to lay off workers are never easy and the company looked at every possible option to avoid making workforce cuts. The company continues to invest in the Dakota City facility adding a $50 million automated box distribution system which will improve operational efficiency and customer service levels.

Drought and lack of cattle also prompted Cargill to shutter its Plainview, Texas slaughterhouse last year and move its remaining business to other facilities such as Dodge City.

• Kellogg works with Wal-Mart on rice crop sustainability
Cereal maker Kellogg recently announced a partnership with Wal-Mart Stores to improve rice crop sustainability and help small growers worldwide.


"As a grains-based company, we have a commitment both to the environment and to the people who grow those crops," said Kellogg CEO John Bryant. "We are pleased to partner with Walmart in support of rice growers and rice growing communities around the world."


He said because rice is one of the company’s largest ingredient purchases – used for Rice Krispies® and Special K® worldwide – it's appropriate that the new partnership with Walmart focuses on supporting smallholder rice growers as they work to improve their methods – and with that their yields and livelihoods as well.


Specifically, Kellogg pledges to:
• Further support rice growers and rice growing communities to advance their practices, while also reducing greenhouse gas emissions by 2020.

• Supporting initiatives with producers in every country in which Kellogg sources rice globally, that will, by 2020, lead to a 25% increase in the adoption of Climate Smart Agriculture (CSA) practices. 

• Monitor progress and impact using a number of metrics and align this initiative with the Global Alliance on Climate Smart Agriculture, which is to be launched later this year at the United Nations.

Five Star Votes: 
No votes yet

President George W. Bush to be honored at Crystal Bridges

$
0
0

Wal-Mart CEOs Doug McMillon and Bill Simon are hosting a special gala this evening, May 15 at Crystal Bridges Museum in Bentonville. The event honors 14 Medal of Honor recipients who are visiting the area this week. The gala is also a fundraising effort for the Congressional Medal of Honor Society and Foundation.

President George W. Bush will be in attendance and receive the Society's highest award—the Patriot Award. The gala is being emceed by Governor Mike Huckabee, according Wal-Mart corporate spokesman David Tovar.

With President Obama presenting the Medal of Honor this week to Army Sergeant Kyle White for his actions in combat in Afghanistan, the Society now consists of the 78 living recipients of the Medal of Honor.

The signature effort of the Medal of Honor Foundation is a character-building program designed to educate youth on courage, commitment, sacrifice, patriotism, integrity and citizenship. 

“As a company, we are passionate about supporting veterans and celebrating our country’s heroes. What a phenomenal opportunity to honor those that sacrificed so much so we can enjoy the freedoms we have today,” Tovar noted in an e-mail.

Five Star Votes: 
Average: 5(1 vote)

FCRA considers land deal offer from Arkansas Colleges of Health Education

$
0
0

A proposal that would give the Arkansas Colleges of Health Education an option to purchase land presently committed to Fort Smith Public Schools ran into a blip Thursday (May 15) during a meeting of the Fort Chaffee Redevelopment Authority's real estate committee.

The land in question is slated to be part of the campus of a proposed third Fort Smith high school and will be donated by the FCRA. Construction of the school is largely contingent upon passage of a millage increase, which FCRA Executive Director Ivy Owen said would likely not take place until Fall 2015. The agreement with the district allows it up to 10 years to accept the donation and develop the site.

The proposal made by the ACHE, which is developing the state's first college of osteopathic medicine, would allow it to purchase 27 acres of the proposed site for $200,000 should Fort Smith Schools not develop the property by the time its offer from FCRA runs out in 2021.

FCRA board member Bob Bradford questioned whether the redevelopment authority should accept the proposed price since the value would likely increase by the time ACHE would possibly purchase the property.

ACHE President and CEO Kyle Parker said he understood the concern, but also pointed out that the increase in land value at the site would be directly tied to the development of the new medical school.

"I think it was a fair question," Parker said after the meeting. "I think the redevelopment authority has been incredibly gracious to us (by donating the original 200 acres for the medical school). But by locating the school here, we've helped the authority by increasing the value of property they're going to dispose of. All of that needs to be taken into consideration."

Parker said he hopes the new Fort Smith high school is built as proposed, but ACHE was bringing the proposal to the FCRA in order to protect itself should the deal for the high school fall through, adding that the purchase of the property would provide a buffer for ACHE from any future developments.

"You just want to know who your neighbors are going to be," he added.

The proposal will go to a vote of the FCRA board at its May 22 meeting.

Five Star Votes: 
Average: 5(2 votes)

USA Truck recognized for service by Alcoa

$
0
0

Van Buren-based USA Truck has earned repeat accolades as an Alcoa Tier 1 Core Carrier of the Year for commendable dry van service in North America.

Alcoa, a global leader in lightweight metals engineering and manufacturing, annually recognizes its core carriers in a variety of categories. Carriers are measured against seven key metrics including overall volume, shipment acceptance percentage, scope and sustainability, and data accuracy.

Alcoa’s 13 Tier 1 carriers transported 50% of Alcoa’s North American motor carrier business in 2013.

“We have enjoyed a long-lasting partnership with Alcoa, and this award, for the second year in a row, demonstrates USA Truck’s commitment to delivering on our promise of consistency and service,” Jaimey Malone, vice president of Sales for USA Truck, said in a statement. “I am proud of every USA Truck driver team member who made this possible, and I am proud of our enterprise team for managing their business in a way that compelled Alcoa to recognize our performance again.”

Five Star Votes: 
No votes yet

Warren Buffett increases stake in Wal-Mart

$
0
0

Iconic investor Warren Buffett acquired 8.57 million more shares of Wal-Mart stock during the quarter ended March 31, according to a report filed with regulators on Thursday (May 15).

Buffett’s Berkshire Hathaway raised its stake 17% to 58.05 million shares of Wal-Mart during the first quarter. Buffett’s investment in Wal-Mart is valued at $4.46 billion.

Wal-Mart has become Berkshire’s fifth largest U.S. stock holding.

Five Star Votes: 
No votes yet

Darden sells Red Lobster for $2.1 billion

$
0
0

Darden Restaurants announced it will sell its Red Lobster business and certain other related assets and assumed liabilities to Golden Gate Capital for $2.1 billion in cash.   

Darden expects to receive net cash proceeds, after tax and transaction costs, of approximately $1.6 billion, of which approximately $1.0 billion will be used to retire outstanding debt. The remaining net proceeds of approximately $500 million to $600 million will be deployed for a new share repurchase program of up to $700 million in fiscal 2015. 

"Over the past months, we have had extensive conversations with our shareholders about Darden and the company's strategic direction. By enabling us to bolster the company's financial foundation and increase our focus on the Olive Garden brand renaissance program, we believe this agreement addresses key issues that our shareholders have raised, including the need to preserve the company's dividend and regain momentum at Olive Garden," said Clarence Otis, CEO of Darden.

In addition to strengthening the company's credit metrics, the sale of Red Lobster will  lower the company’s debt levels and reduce the outstanding share count. Darden expects to maintain its quarterly dividend of 55 cents per share, or $2.20 annually, after the sale is complete.

Investors were not impressed with the deal, shares of Darden Restaurants tumbled more than 4% to $48.51 on Friday (May 16) following the news.

"Red Lobster is an exceptionally strong brand with an unparalleled market position in seafood casual dining," said Josh Olshansky, managing director at Golden Gate Capital."Red Lobster is exactly the type of company in which we seek to invest given its great brand profile and strong management team. We see significant opportunities for future growth by partnering with Kim Lopdrup and the management team to support the long-term success of Red Lobster."

Darden expects the sale of the Red Lobster business, which was unanimously approved by Darden's board to close in the first fiscal quarter of 2015.

The deal is subject to customary closing conditions and regulatory approvals and is not subject to a shareholder approval condition or a financing condition. 

Golden Gate Capital has obtained committed debt financing from Deutsche Bank AG, Jefferies and GE Capital, and has fully executed a separate $1.5 billion sale-leaseback agreement with American Realty Capital Properties Inc., the proceeds of which will be used to support the financing of Golden Gate Capital's purchase of Red Lobster.

Five Star Votes: 
Average: 5(1 vote)

Wal-Mart kicks off gas rollback May 18

$
0
0

Wal-Mart hopes to help consumers save money on their fuel purchases starting Sunday, May 18, just ahead of the Memorial Day weekend and the official summer kickoff.

AAA expects 31.8 million American’s will travel by car this Memorial Day, up from 31.4 million last year and marking the second highest Memorial Day travel since 2000.

The retail giant has offered this Gas Rollback program for several years which allows consumers up to 15 cents per gallon savings on their fuel purchases at Walmart or Murphy USA Stations through September 8. The savings are gleaned when the consumer uses a Walmart credit card, Walmart Money Card, Associate Pay Card, or a Walmart Bluebird card to purchase the fuel.

Consumers using a Walmart gift card can get a 10-cent per gallon savings. Last year, Walmart said it helped customers save more than $98 million on 975 million gallons of gasoline sold.

The program is available in 21 states including Arkansas. Local gas prices have risen 32 cents per gallon since January, according to gasbuddy.com

Five Star Votes: 
Average: 5(2 votes)

Dana Mather to stay on as acting director for Main Street Rogers

$
0
0

Dana Mather will continue as the acting director of Main Street Rogers for the time being as the organization’s board has postponed its search for a full-time executive director.

Mather has been serving in an interim capacity since the Kerry Jensen resigned the post in November and was a finalist for the position before the board suspended the search.

The board voted earlier this week to appoint Mather as acting director as the organization works on its master plan for redeveloping downtown. Mather previously worked as event coordinator before stepping into the interim executive role.

Five Star Votes: 
No votes yet

Sebastian County Election Commission OKs coordinator hiring

$
0
0

The Sebastian County Election Commission has selected a new election coordinator to replace its previous coordinator, who resigned following a series of ballot errors prior to the May 20 primary election.

Following a nearly hour long executive session Friday (May 23), Election Commission Chairman Lee Webb announced that the commission would hire Robert Cowan to serve as election coordinator, pending support of County Clerk Sharon Brooks, who was absent from Friday's meeting.

Cowan is a retired vice president of finance for Rheem Manufacturing and holds a bachelors degree in finance from Miami University of Ohio and an MBA in finance from the University of Tennessee.

In a memo to the commission, County Judge David Hudson said he and County Human Resources Director Steve Hotz recommended Cowan's hiring.

Former Election Coordinator David Mansell was only on the job for a few months before he resigned in March following mistakes that included the misspelling of U.S. Rep. Tim Griffin's last name on the Republican primary ballot, as well as getting the order of candidates wrong in the Republican race for lieutenant governor, which included Griffin, Rep. Andy Mayberry and Rep. Debra Hobbs.

Mansell was originally hired to replace retiring Election Coordinator Jerry Huff, who stayed on to assist with what turned out to be a rocky transition with Mansell. He subsequently lead the county through the May 20 primary following Mansell's resignation.

Huff said Friday he would be leaving his job with the county before the June 10 runoff for Republican attorney general.

Five Star Votes: 
Average: 5(1 vote)

Pilgrim’s Pride bids on Hillshire Brands

$
0
0

Tyson Foods’ long-time poultry competitor — Pilgrim’s Pride — is making a play to diversify its portfolio with Hillshire Brands reportedly offering $5.52 billion for the beef and pork branded business.

If approved the deal would products such as Jimmy Dean sausages and Hillshire lunch meats to its Pilgrim’s chicken business.

Pilgrim's offer comes days after Hillshire proposed to buy Pinnacle Foods Inc., known for its Birds Eye frozen vegetables and Duncan Hines cake mixes, in a $4.3 billion deal.

"A sale of (Hillshire) at the price ... offers superior value and far greater certainty to Hillshire shareholders than the contemplated Pinnacle transaction," Pilgrim's Chief Executive William Lovette said in a letter to Hillshire.

Pilgrim's offer of $45 per share represents a premium of about 22% to Hillshire's Friday closing price. Hillshire shares were trading at $45.28 on Tuesday morning (May 27.)

Hillshire said it would review Pilgrim's proposal but it continued to believe in the merits of a deal with Pinnacle Foods. Shareholders could see more value in the Pilgrim’s deal given Hillshire said it would suspend buybacks in its plans to acquire Pinnacle Foods.

Lovette said a deal would make Pilgrim's one of the top two protein and branded food companies in the United States, behind Tyson Foods. The companies had a combined revenue of $12.4 billion in the last 12 months.

Five Star Votes: 
No votes yet
Viewing all 1317 articles
Browse latest View live