News in brief


Ward is president

branch supplied with LR

Millie A. Ward, president of the Little Rock advertising agency Stone Ward, has been elected president of the Little Rock branch of the Federal Reserve Bank in St. Louis.

Ward, who is serving her second three-year term on the board, succeeds Vickie D. Judy, chief financial officer and vice president of America’s Car-Mart Inc. at Rogers.

Other members of the board include Christopher B. Hegi, president and CEO of First Financial Bank in El Dorado; Vincent G. Logan, chief financial officer and chief investment officer of the Native American Agriculture Fund in Fayetteville; and Darrin Williams, CEO of Southern Bancorp Inc. in Little Rock.

The bank also announced that Jamie J. Henry, vice president of finance and emerging payments at Walmart Inc. in Bentonville, has been reappointed by the Federal Reserve board of governors for a three-year term.

Jeff Lynch, chairman and CEO of Eagle Bank & Trust Co. in Little Rock, has also been re-appointed by the St. Louis Fed’s board of directors for a three-year term, according to a Press release.

– Christmas Oman

Builder sues Tyson

on factory payments

A construction company sued Tyson Foods, claiming it was a shortfall for work on the meat company’s new poultry processing plant in Humboldt, Tenn.

Gray Construction of Kentucky, the prime contractor for the project, says Tyson has not fully paid for work done on its poultry complex, which includes a processing plant, feed mill and hatchery.

Other contractors working on the project failed to complete their work on time, according to court documents, resulting in delays and unforeseen costs for Gray.

As a result, Gray wants compensation for a number of project changes, including costs related to weather setbacks and masks needed during the coronavirus pandemic.

The entrepreneur is asking for at least $ 3.45 million.

A spokesperson for Tyson Foods declined to comment on the matter.

The Gibson County Industrial Development Board is also a defendant in the case filed in federal court in Jackson, Tenn.

Tyson shares rose 15 cents, or less than 1%, to close Friday at $ 91.01 on the New York Stock Exchange.

–Nathan Owens

In the Arkansas Index

Dillard’s, PAM fall

The Arkansas Index, a price-weighted index that tracks the state’s largest public companies, closed Friday at 770.05, down 19.18.

The index is down 0.29% over the year.

Dillard’s Inc. shares fell 8.8% and PAM Transport shares fell 3.8%.

USA Truck shares rose 2.5% and Walmart shares rose 1%.

The index was developed by Bloomberg News and the Democrat-Gazette with a base value of 100 as of December 30, 1997.


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