LITTLE ROCK — Trucker cites lawsuit in Chapter 11 filing
Bill Davis Trucking Inc. said in a release Tuesday that its Chapter 11 bankruptcy filing was "necessitated by an injury accident and ensuing lawsuit against the company."
The filing by the Batesville company was reported in the Arkansas Democrat-Gazette on Tuesday. A meeting with creditors is scheduled for Dec.
18, according to a court filing from Oct. 22.
The trucking firm was founded in 1975 by Bill and Gail Davis. "This has been a very unfortunate chain of events, and Gail and I certainly hate that it ever had to happen," Bill Davis said in the release.
Davis also owns a NASCAR race team and said in the release that "Bill Davis Trucking and Bill Davis Racing are two completely separate entities and the race team will in no way be affected by today's announcement."
Michelle Marckwardt, a spokesman for High Point, N.C.-based Bill Davis Racing, added Tuesday that Davis would entertain offers or interest from potential investors and partners if it's in "the best interest of the team."
"I don't think it's a situation where [Davis] wants to get out of it completely," she said.
Manufacturers to add
60 Pocahontas jobs
POCAHONTAS - Dynarex Corp., a leading manufacturer of disposable medical products, announced Tuesday that it will open a distribution center in Pocahontas, creating 40 jobs and costing $1.5 million. In addition to the Dynarex announcement, ITW Paslode, a leading manufacturer and marketer of cordless and pneumatic fastening systems, announced plans to expand its existing facility in Pocahontas, adding 20 new positions.
Dynarex Corp., based in Orangeburg, N.Y., will be housed in a facility formerly occupied by Waterloo and is projected to be in operation by January.
ITW Paslode, a division of Illinois Tool Works with headquarters in Vernon Hills, Ill., is expanding its existing facility, located at 1600 Patrick Drive.
Arkansas 20 declines
despite Dillard's rally
The Arkansas 20, a priceweighted index that tracks public companies based in the state, fell 3.79 to 207.02 Tuesday.
"U.S. stocks fell for the first time in three days on concern that the economy is weakening after consumer confidence dropped to the lowest since 2005 along with news that home prices suffered their worst decline since 1991," said Chris Harkins, senior vice president and managing director of Delta Trust Investments Inc. in Little Rock. "The Arkansas 20 closed lower as 14 stocks declined, four moved higher and two remained unchanged."
Dillard's rallied for the second day, closing up 2.3 percent, Harkins said. Dillard's has risen 9.2 percent in the past two days, with The Wall Street Journal reporting that recent gains could be due to buyoutrumors.
The index was developed by Bloomberg News and the Arkansas Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.
Business, Pages 27 on 10/31/2007