By Roby Brock
Governor Mike Beebe and state economic officials will travel to Europe in early October to meet with leaders of businesses invested in Arkansas. Beebe will spend time in London, Paris and Hamburg during his trip. He said that he hopes to meet with representatives of vendor companies doing business with foreign companies invested in Arkansas.
Congressman Ross pharmacy sale creates firestorm
Fourth District Congressman Mike Ross has been embroiled in a controversy over the sale of his Prescott pharmacy to USA Drug in 2007. National media outlets reported on Tuesday that the sale of the Ross pharmacy may have been for more than the appraised worth of the building and land. An ensuing complaint from a Washington, D.C. watchdog group with the U.S. Department of Justice has called for an investigation. Ross denies any wrongdoing and late Wednesday answered questions about detailed financial information regarding the two-year old business sale.
Hewlett-Packard on track in Conway
Hewlett-Packard officials are focused on hiring 1,200 employees to work at its new $28 million high-tech center in Conway. Arkansas operations leader Shannon Marnitz said H-P is interviewing candidates for customer relations representatives, internal and external sales positions and management candidates.
“Day-to-day, right now, involves a lot of screening of candidates,” said Marnitz. “It’s about ramping up that work force and all that entails to do that. You’re talking about 1,200 people. All of sudden when you start to calculate the time it takes to still meet the 1,200 headcount, you’re talking to a lot more people than 1,200.”
H-P will host a jobs fair on the campus of UCA on Monday from 7 a.m. to 7 p.m.
Metropolitan Bank CFO exits
Metropolitan National Bank confirmed the resignation of its chief financial officer, Lynn Dorrough, who parted ways with the financially troubled institution Wednesday. Susie Smith, chief operations officer, said she will step in and fill job responsibilities vacated by Dorrough, who is heading to a bank in Mississippi. Dorrough was just promoted to CFO in March and joined the bank in 2007.
Metropolitan is facing a challenge with capital shortfalls and a troubled loan portfolio. The bank’s holding company is facing a Sept. 30 deadline to raise capital ratios for the bank after reporting a $32.5 million net loss in the second quarter.
Acxiom expands into the Middle East, North Africa
Acxiom announced a strategic expansion into the Middle East and North Africa with the acquisition of DMS (Direct Marketing Services) in Saudi Arabia and the United Arab Emirates.
“The Middle East-North Africa region is a strategic investment area for our company,” said Acxiom CEO John Meyer. “We look forward to servicing our current global partners who are expanding, as well as serving regional marketers who need a broad, integrated solution set to answer the complex challenges facing businesses today.”
Four to be inducted into state Business Hall of Fame
Four business leaders will be inducted into the 2010 Arkansas Business Hall of Fame. They include the late William “Bill” Clark, CEO of CDI Contractors; Jerry Jones, owner, president and general manager of the Dallas Cowboys; Jim Lindsey, CEO of Lindsey & Associates; and Thomas “Tommy” May, chairman and CEO of Simmons First National Bank.
The Arkansas Business Hall of Fame induction ceremony will be held Friday, Feb. 12, 2010, at the Statehouse Convention Center in Little Rock.
Forrest City plant to get 45 new manufacturing jobs
Massachusetts-based Mestek Inc., the parent company of Airtherm in Forrest City, is adding new lines to its existing facility and creating 45 new jobs. Airtherm is a manufacturer of fan coil units and fan coils for the HVAC industry. It currently employs 40 workers in Forrest City.
The new product lines being added in Forrest City will include cabinet unit heaters, panel radiators, electric baseboard units, fire dampers, fire/smoke dampers, air control dampers, roof curbs, and gravity roof ventilators. Company officials said that Arkansas was selected because of the state’s “business friendly attitude” and the “availability of skillful and motivated workers.”
——-
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.
