Undo protest ruling, union asks justices
The United Food and Commercial Workers International Union is asking the Arkansas Supreme Court to reverse a Circuit Court ruling involving trespassing by protesters at Wal-Mart stores.
Attorneys for Wal-Mart Stores Inc. and the union appeared before the state Supreme Court justices Thursday to give oral arguments. Union attorney George Wiszynski argued that the National Labor Relations Board decision should have prevented the case from going to Benton County Circuit Court in 2015.
Wal-Mart filed for an injunction against the union and protesters, and the retailer also filed a complaint with the federal labor board, all stemming from protests in 2012 and 2013. Union members were barred from entering stores or entering company property for any reason other than shopping.
Wal-Mart attorney Steven D. Wheeless argued that the court ruling should stand because the state has an interest in preventing trespassing.
"If the court rules in our favor, it is not going to open the door for unions to be trespassing all over Arkansas," Wiszynski told justices.
Union attorneys have argued against injunctions in seven states, and in six of those Wal-Mart was granted a permanent injunction. An Ohio case has yet to go to trial, but the retailer has a preliminary injunction.
"We believe this issue of law is well settled by the U.S. Supreme Court, which said states have the right to enforce trespass laws in these situations," the company said in a statement.
-- Chris Bahn
Economist to speak to state Chamber
Michael Drury, chief economist for McVean Trading and Investments LLC, will be the keynote speaker at the Arkansas State Chamber of Commerce's meeting today, the organization announced Thursday.
Drury will speak about the global economy at the meeting, which will be at 11:30 a.m. at the Little Rock Marriott, the news release said.
McVean Trading and Investments is an international commodities investment firm based in Memphis, the release said.
-- Jessica Seaman
Snoopy's out in MetLife makeover
MetLife Inc., the largest U.S. life insurer, will phase out the use of Snoopy and Peanuts characters in its marketing.
The insurer announced a new tagline, "MetLife. Navigating life together," in what the New York-based company called the most significant change to its brand in three decades. The company plans to roll out its new logo, featuring and green and blue letter M, through next year.
Chief Executive Officer Steve Kandarian has been rethinking the company's business model, and will increasingly focus on group benefits, like dental and disability coverage.
"We brought in Snoopy over 30 years ago to make our company more friendly and approachable during a time when insurance companies were seen as cold and distant," Chief Marketing Officer Esther Lee said in a statement Thursday. "As we focus on our future, it's important that we associate our brand directly with the work we do and the partnership we have with our customers."
-- Bloomberg News
Mortgage rates rise for a 2nd week
WASHINGTON-- Long-term U.S. mortgage rates rose this week for a second-straight week, reaching their highest levels since June.
Mortgage giant Freddie Mac said Thursday the average for a 30-year fixed-rate mortgage increased to 3.52 percent from 3.47 percent last week.
Rates still remain near historic lows. The benchmark 30-year rate is down from 3.79 percent a year ago and close to its all-time low of 3.31 percent in November 2012.
The 15-year fixed-rate mortgage, popular with homeowners who are refinancing, rose to 2.79 percent from 2.76 percent.
The low rates have been luring buyers into the market. Data issued Thursday by the National Association of Realtors showed that more Americans bought homes in September, many for the first time, despite a persistent shortage of properties for sale. Sales of existing homes rose 3.2 percent from August to a seasonally adjusted annual rate of 5.47 million, the strongest pace since June.
The average fee for a 30-year mortgage fell to 0.5 point from 0.6 point last week. The fee for a 15-year loan also declined.
Rates on adjustable five-year mortgages averaged 2.85 percent, up from 2.82 percent last week. The fee held steady.
-- The Associated Press
Union to vote on Jim Beam strike's end
LEXINGTON, Ky. -- The strike at Jim Beam might be ending soon: A tentative agreement has been reached with the executive board of the United Food and Commercial Workers union, which has been on strike since Saturday.
Union officials could not be reached immediately for comment. According to The Associated Press, the union will vote today on the proposed new contract, which calls for the distillery to hire more full-time workers. The offer came after several rounds of negotiations this week.
About 250 workers at distilleries in Clermont and Boston, Ky., rejected two previous contracts over overtime demands, which they say have been increasing in recent years as global demand for bourbon has led to increased production.
Jim Beam is the world's best-selling bourbon. When Suntory bought the company in 2014 for $16 billion, sales were an estimated $1.2 billion for 7.4 million cases.
-- Lexington Herald-Leader
Hyundai issues recall to fix sunroof
DETROIT -- Hyundai is recalling nearly 63,000 midsize cars in the U.S. because the panoramic glass sunroofs can come loose and fly into traffic.
The recall covers certain Sonata midsize cars from the 2015 and 2016 model years, including gas-electric hybrids.
The South Korean automaker says in government documents that a wind deflector anchor plate in front of the sunroof wasn't bonded properly to the car. A loose deflector can detach and interfere with the roof as it closes. If the owner tries to force the roof closed, it can fly off.
The company says it has no reports of accidents or injuries due to the problem. But Hyundai had several reports of detached sunroofs in the U.S.
Dealers will repair the wind deflector anchor plate at no cost to customers. Owners will be notified by mail in December about when to take their cars in for service.
-- Bloomberg News
Business on 10/21/2016