Abshure leaving securities post
Gov-elect Asa Hutchinson will replace Heath Abshure as Arkansas securities commissioner, Hutchinson spokesman J.R. Davis said Tuesday.
No other information about Hutchinson's choice to fill the position was given.
Abshure said Hutchinson's team called him Monday to tell him about the decision and said "the governor wanted to go in a different direction."
Asked about his plans once he leaves the position, Abshure said: "I'm looking at a number of different things. It's a little too early to tell."
Abshure's tenure was marked by an ethics complaint filed by Stephens Inc. that claimed Abshure allowed some organizations to make contributions to designated groups in lieu of paying fines. The complaint was dismissed by the Arkansas Ethics Commission in March.
-- Jessica Seaman
Airline to end LR to NYC nonstop
American Airlines is ending its nonstop service from Little Rock's Bill and Hillary Clinton/Adams Field to New York's La Guardia Airport.
Effective March 30, 2015, the flight will end after less than a year. U.S. Airways, which merged with American Airlines, began service from Clinton to La Guardia in April 2014, but airport spokesman Shane Carter said the airline informed officials that it was not popular enough to continue.
"The flight has an average load factor of 65 percent, which we are told has resulted in it being unprofitable," Carter said.
Initially the airport had offered $30,000 to American Airlines as an advertising incentive for the route. Carter said that money was not utilized "as the airline did not sign the agreement to receive the incentive."
Carter said the airport is working on additional routes, but has no announcement to make "at this time."
Clinton National currently offers nonstop flights to 14 airports.
-- Chris Bahn
State index drops as 10 stocks gain
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, fell 1.83 to 372.99 Tuesday.
"U.S. stocks closed lower following a volatile session in which stocks were whipsawed by the price of oil and bargain hunters, said Bob Williams, senior vice president and managing director of Simmons First Investment Group Inc. in Little Rock. "Local stocks once again outpaced the broad market averages with 10 issues advancing and 7 declining."
Acxiom shares rose 2.2 percent while Windstream gained just over 2.12 percent.
Tyson Foods fell almost 4 percent and Murphy Oil hit a new 52-week low during the trading day.
The index was developed by Bloomberg News and the Arkansas Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.
Business on 12/17/2014