By Roby Brock
The Arkansas Lottery Commission voted to issue a notice of intent to award a contract to Athens, Greece-based Intralot, a gaming systems company, to run drawing games for the new Arkansas Lottery. Intralot, the only bidder for the online gaming contract, says it can start the games by September 28, nearly one month ahead of schedule.
Lottery director Ernie Passailaigue said he hopes to be able to negotiate some parts of the contract to save money. Intralot says it wants 2.45 percent of net sales of drawing games tickets.
State fairgrounds soliciting bids to move
The Arkansas Livestock Show Association is soliciting bids to possibly move the state fair from its location in east Little Rock and Barton Coliseum.
The city of Little Rock has made a proposal to renovate and expand the current facilities, a plan that could cost up to $57 million.
In the new proposal request, association officials ask communities to provide information on property within 35 miles of the existing livestock show grounds with:
- A minimum 350 contiguous usable acres
- Land for future expansion
- Interstate/highway access
P.A.M. transportation posts another loss
P.A.M. Transportation Services reported a net loss of $2.35 million in its second quarter, a larger loss than its $1.33 million loss one year ago. It is the sixth straight quarter that P.A.M. has posted a net loss.
Revenues topped $68.4 million in the second quarter compared to $110.9 million one year ago.
Baldor reports lower earnings
Despite belt tightening and a close watch on economic conditions, Baldor Electric reported lower sales and earnings. The Fort Smith-based manufacturer of motors, drives and generators reported second quarter net income of $7.8 million, down from $29.4 million one year ago. Sales topped $384.7 million compared to $504 million in the second quarter of last year.
Housing woes hurt deltic’s net income
Deltic Timber saw sales and profits fall in its second quarter. The El Dorado-based timber and real estate firm posted quarterly net income of $972,000, down from one year ago when Deltic recorded profits of $2.4 million. Revenue for the firm fell 18 percent to $29.1 million.
Acxiom first quarter profits falls
Acxiom Corp. reported net income of $4.2 million, down from $10.6 million one year ago. Revenue was just shy of $256 million, a 22.7 percent decline from the previous year’s first quarter.
“We continue to feel the effects of our clients limiting or delaying their marketing spending,” said CEO John Meyer.
Metropolitan National Bank posts quarterly loss
Little Rock-based Metropolitan National Bank posted a second quarter loss of $32.5 million. One year ago, privately-held Metropolitan posted a $2.5 million second quarter profit.
Metropolitan officials blamed their woes on commercial real estate loans amidst a struggling economy. The bank said it is well-capitalized and capable of absorbing the loss.
J.B. Hunt partners on biodiesel deal
J.B. Hunt Transport Services and SunEco Energy announced an agreement that could lead to J.B. Hunt becoming a significant purchaser of biodiesel made from natural algae oil.
The two companies conducted a series of successful tests using biodiesel made by SunEco Energy from 100 percent natural algae oil produced at the company’s pilot plant in
Chino, California. The tests used a 20 percent and 50 percent blend of algae oil with petroleum diesel, which measured an 82 percent reduction in particulate emissions with no loss of power.
“Transportation fuel is virtually 100 percent oil-based,” said Gary Whicker, senior vice president of engineering for J.B. Hunt. “Finding alternative energy sources to put in our fuel tanks is good business for our company and our nation.”
On the wireless front
According to new statistics from the Federal Communications Commission (FCC), there were over 2.4 million wireless customers in Arkansas as of June 2008, a 14 percent increase from June 2007. There are 2.85 million citizens in the state, according to U.S. Census Bureau estimates. During the past 5 years, cell phone usage in Arkansas has risen 81 percent.
At the end of June 2008, there were 255.3 million U.S. mobile phone subscribers, up 17 million, or 7 percent, from the previous year. There are an estimated 302 million Americans.
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Roby Brock, a freelance journalist based in Little Rock, writes weekly for the Arkansas News Bureau. His weekly television program airs at 10 p.m. Sundays in Central and Northwest Arkansas. His e-mail address is roby@talkbusiness.net; his Web site address is www.talkbusiness.net.
