ABF Freight move on union, Beebe radar
Teamsters Local 878 President Tim Nichols met with Gov. Mike Beebe on Tuesday in hopes of keeping ABF Freight from relocating a North Little Rock distribution center to Memphis.
Nichols called on Beebe after ABF Freight officials informed employees that the ArcBest subsidiary was exploring a move to Memphis. Nichols said a move was "practically a done deal."
"What I have found when a company goes to the trouble of meeting with economic development commissions in other communities, paid for environmental impact studies, then notifies employees that it is their intent to move, it's not 100 percent done deal, but 90-95 percent," Nichols said.
ABF Freight was approved last week for $4 million in incentives over 14 years by the Economic Development Growth Engine for Memphis and Shelby County.
Nichols said about 400 Teamsters are employed by ABF in North Little Rock and many of those jobs would be eliminated.
Beebe spokesman Matt DeCample confirmed the meeting.
-- Chris Bahn
Skilled workforce focus of meeting
Representatives from about 44 manufacturing companies in Arkansas met with Gov. Mike Beebe Tuesday to discuss the state's "growing need for a competent and engaged workforce," the state Chamber of Commerce said Tuesday in a news release.
"This is more about opportunity than difficulties or challenges," said Randy Zook, president and chief executive officer the Chamber of Commerce. "This is a structural issue driven by the aging of the workforce, skills deficiencies and skills needs. Eighty percent of the companies across the country either need or have difficulty finding skilled people."
Attendees at the meeting at the Governor's Mansion said issues facing the industry include the lack of skills and qualified trade instructors, and an aging workforce.
-- Jessica Seaman
Arkansas Index rose 5.72; Tyson up 4.5%
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, gained 5.72 to 345.90 Tuesday.
"The Standard & Poors 500 gained for fourth day in a row and set another record close following encouraging economic updates," Bob Williams, senior vice president and managing director of Delta Trust Investments Inc. in Little Rock.
"Tyson Foods rose over [4.5 percent] in active trading after a bullish write-up in Barrons over the weekend and in response to Pilgrim's Pride's $45 a share bid for Hillshire Brands," Williams said.
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 05/28/2014