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THE BIZBLOG
Breaking business news from around Arkansas
Editor: Roby Brock |
roby@talkbusiness.net
Wednesday, March 10, 2010 - 11:01:18 AM
VERIZON PUMPS $56 MILLION INTO ARKANSAS IN 2009
Verizon Wireless, which acquired Alltel last year, said it invested $56 million in Arkansas during 2009 to improve its cellular network.
The investment includes adding new cell sites and network upgrades, deploying cells on light trucks to handle increased call volume during high traffic community and university events, as well as other projects to expand services and coverage for wireless customers in Arkansas.
Verizon said it added or expanded over 60 cell sites in metropolitan and rural areas throughout the state in 2009.
Wednesday, March 10, 2010 - 10:59:45 AM
INNOVATION CONFERENCES AIM TO SPARK ARKANSAS COMMERCE
Arkansas will be ground zero for several conferences aimed at highlighting and moving forward the state's intellectual commercial prospects.
Rob Moritz with our content partner, the Arkansas News Bureau, reports on one conference taking place in Little Rock this week.
The first in a series of regional conferences organized by the National Academy of Sciences wraps up today at the Clinton presidential library, with business leaders highlighting a variety of innovations and new business possibilities.Several related conferences are planned in the coming weeks. You can read more at this link.
"We now have a cluster of IT companies, particularly with the influx of (Hewlett-Packard) and Acxiom, and for all practical purposes Alltel was an IT company, and then there's Verizon," Dr. Mary Good with UALR tells Moritz.
Wednesday, March 10, 2010 - 9:25:03 AM
STATE UNEMPLOYMENT REMAINS UNCHANGED
The Arkansas Department of Workforce Services says that state unemployment remained unchanged at 7.6% in January 2010. One year ago, the state's unemployment rate was 6.5%.
The state revised its December 2009 jobless rate from 7.7% to 7.6%.
The January U.S. unemployment rate declined from 10% in December to 9.7%.
DWS Communications Director Kimberly Friedman said, "Although Arkansas is still feeling the effects of the recession, our rate has only increased two-tenths of a percentage point since July 2009. It is too soon to tell, however, if our unemployment rate is stabilizing."
For the month, jobs in the trade, transportation and utilities sector fell by an estimated 7,600 workers. Retail trade was the biggest decliner due to the fall-off from a ramped-up holiday workforce.
Government employment declined seasonally by 4,500 workers due to winter break at public schools. Manufacturing posted job losses of 3,900 in January, while professional and business services added 1,600 jobs during the month.
Wednesday, March 10, 2010 - 8:58:59 AM
ROCKFISH EXPERIENCING POSITIVE GROWING PAINS
Kenny Tomlin, CEO of Rogers-based Rockfish Interactive, discusses the good headaches that come from a company that receives international recognition.
His firm was selected as Advertising Age's "Small Agency of the Year," which brought worldwide exposure to his "small shop" of 80 employees.
In an online edition of Ad Age, Tomlin offers advice to the next small agency winner:
No, money does not begin to fall from the sky when the award is announced; you still have to earn the business. But you can bet that you will be contacted by marketers who otherwise would not have bothered.
The next Small Agency of the Year will quickly have to figure out how to manage a significant increase of RFPs without taking too much time away from current client work. You might find yourself turning business away. You'll have a very busy HR executive, you will be constantly reevaluating your floor plan to figure out how to get another body into your space, and you will be taking calls from the press and asked to speak at industry events.
Naturally these are the types of growing pains that any agency would love to have because they represent opportunity.
You can read the full op-ed at this link. We were proud to select Rockfish as Talk Business' "One To Watch" award winner this year. You can read an article on their successful business at this link or check out Tomlin's interview from our TV program last year here.
Tuesday, March 09, 2010 - 10:11:52 PM
TYSON FOODS RECEIVES UPBEAT DEBT RATING REVIEW
Executives with Springdale-based Tyson Foods, who recently predicted financial improvements in 2010, were afforded a favorable second opinion from Fitch Ratings.
Chicago-based Fitch rated Tyson Foods' debt BB and gave the company a stable outlook. The stable rating not only provides independent confirmation of recent comments by Tyson Foods' execs, but maintaining the rating helps Tyson Foods avoid higher costs related to debt financing.
"Tyson's ratings reflect its leading U.S. market positions, strong brand recognition and the diversification provided by its chicken, beef, pork and prepared foods businesses," Fitch noted in the statement.
"Operating earnings and cash flow volatility combined with high debt levels have historically caused significant swings in Tyson's credit statistics. However, solid liquidity and declining debt levels are viewed positively," Fitch added.
Read more from our content partner, The City Wire, at this link.
Tuesday, March 09, 2010 - 10:09:26 PM
MANUFACTURING SEMINAR DETAILS TAX BREAKS, GRANTS
If you're a manufacturing concern in Arkansas and want to learn more about tax breaks and grant opportunities for your business, then check this out.
Arkansas Manufacturing Solutions (AMS) will host a free lunch and learn for manufacturers interested in learning how to best utilize government grants and programs currently available to grow their businesses.
Programs to be reviewed include Technology Transfer Assistance Grants (TTAG), Trade Adjustment Assistance Grants (TAA), Incumbent Workforce Training (IWTP) and manufacturing utility tax credits.
The event is free on March 16th from 11:30 am to 1 pm at the Pulaski Technical College business and industry center near the Little Rock Airport. Click here for more information.
Tuesday, March 09, 2010 - 3:44:50 PM
PACE INDUSTRIES BUYS ZINC CASTING BUSINESS
Aluminum die casting company Pace Industries has acquired the zinc die casting division of Del Mar Industries for an undisclosed sum.
Fayetteville-based Pace said the acquisition was effective immediately.
"Now more than ever, companies are looking for ways to efficiently grow business," said CEO Scott Bull. "This acquisition not only helps us achieve that goal but strengthens our position and expands our capabilities in the zinc die casting sector."
Del Mar, which is based in Gardena, California is a 65-year old company. Pace has zinc die operations in Harrison, as well as St. Paul, Minnesota and North Billerica, Massachusetts.
Monday, March 08, 2010 - 3:28:44 PM
CONSTRUCTION BEGINS ON $1.25 BILLION GAS PIPELINE
Construction has begun on the Fayetteville Express Pipeline, a $1.25 billion, 185-mile natural gas pipeline that will serve the Fayetteville Shale region in Arkansas.
The 42-inch pipeline will originate in Conway County, travel through White County, and terminate at an interconnection in Panola County, Mississippi.
The project is a 50-50 joint venture between Energy Transfer Partners and Kinder Morgan Energy Partners. When the pipeline is in service in late 2010, it will have initial capacity to transport 2 billion cubic feet of natural gas per day.
"The start of construction on FEP marks an exciting milestone for us as this project will ensure that our customers have strategic takeaway capacity out of the Fayetteville Shale," said Luke Fletcher, VP for Energy Transfer Partners Interstate Pipeline Division.
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