Car-Mart director quits; CEO's pay set
A board member of Bentonville-based America's Car-Mart has resigned, and the company has approved the salary of its new chief executive officer, according to a Friday filing with the Securities and Exchange Commission.
The board of directors for the buy-here, pay-here used-car dealer was notified Tuesday that Director Eddie Hight was resigning effective immediately. Hight has been with Car-Mart for 31 years. He was the company's chief operating officer when he retired in November 2013, the same year he joined the board.
The filing also noted that the company's compensation committee approved an annual salary of $430,000 for President and Chief Financial Officer Jeff Williams when he moves to his new job as CEO on Jan. 1. Williams has been with the company for 12 years.
In mid-August, Car-Mart CEO Hank Henderson said he would step down at the end of the year. He has been with the company for 30 years and headed it for the past decade.
-- John Magsam
Energy-rig report says all in state idle
There were no rigs exploring for oil and natural gas in Arkansas this week, while the number in the U.S. increased by eight to 923.
That's up from the 593 rigs that were active a year ago.
Houston oilfield services company Baker Hughes said Wednesday that 747 rigs sought oil and 176 explored for natural gas this week.
Among major oil- and gas-producing states, Wyoming gained four rigs while Colorado, Louisiana, New Mexico and Texas were up one apiece.
Utah declined by one.
The number of operating rigs in Alaska, California, North Dakota, Ohio, Oklahoma, Pennsylvania and West Virginia was unchanged.
The U.S. rig count peaked at 4,530 in 1981. It bottomed out in May of 2016 at 404.
-- The Associated Press
Index up a modest 0.12 with 9 gainers
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, rose 0.12 to 391.77 Friday.
Nine stocks rose, seven fell, and two stayed the same. A short day of trading saw the S&P and the Nasdaq composite set records on the strength of Black Friday retail sales and a two-year high on the price of West Texas crude.
Murphy Oil Corp. rose 47 cents, and Tyson Foods Inc. rose 84 cents in light volume.
Deltic Timber shares fell $1.45.
The index was developed by Bloomberg News and the Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.
Business on 11/25/2017