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Port Authority OKs gun-firm land deal

The Little Rock Port Authority board of directors voted unanimously Friday to formalize its part of an agreement with firearms maker CZ-USA.

The manufacturer announced Tuesday that it has chosen to locate its North American headquarters and a production facility in Little Rock. CZ-USA agreed to invest $90 million to put the plant on a 73-acre tract in the Little Rock Port.

The Port Authority voted to convey the property to the Czech firm if it meets its goal of creating nearly 600 jobs in the next 6 years. The land has been owned by the Port Authority for 10 years.

Bryan Day, executive director of the Port Authority, said the deal is also subject to approval by the city Board of Directors.

The port board also voted Friday to accept infrastructure grant funds from the Arkansas Economic Development Commission for the CZ-USA project.

In addition, the city of Little Rock and Pulaski County will contribute $500,000 each toward a $4.9 million project to improve Zeuber Road between Frazier Pike and Thibault Road near the port. The CZ-USA site is off Zeuber Road.

-- David Smith

Walmart sets votes at annual meeting

The agenda for Walmart Inc.'s formal business and shareholders' meeting on June 5 includes votes on two shareholder proposals. The meeting at the John Q. Hammons Center in Rogers has been moved from 10 a.m., as the retailer previously reported, to 10:30 a.m.

Shareholders of record as of April 12 are eligible to vote. Those unable to attend the meeting may vote online or by phone or mail. The meeting will be webcast live at stock.walmart.com.

The shareholder proposals are a request to strengthen prevention of workplace sexual harassment, and a request to adopt cumulative voting. The company's board of directors has recommended shareholders reject both proposals.

Shareholders also will vote on 12 director nominees. Eight of the nominees are for independent seats. The nominees are Cesar Conde, Steve Easterbrook, Tim Flynn, Sarah Friar, Carla Harris, Tom Horton, Marissa Mayer, Doug McMillon, Greg Penner, Steve Reinemund, Rob Walton and Steuart Walton.

Walmart will hold its annual celebration for employees and shareholders at the University of Arkansas, Fayetteville's Bud Walton Arena on June 7.

-- Serenah McKay

Arkansas Index up 2, ends at 425.94

The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, climbed 2.00 to 425.94 Friday.

America's Car-Mart gained 2.1% while reaching its 52-week high.

Murphy Oil dropped 2.9% on average volume.

Total volume for the index was 18.2 million shares.

The index was developed by Bloomberg News and the Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.

Business on 04/27/2019

Print Headline: Port Authority OKs gun-firm land deal Walmart sets votes at annual meeting Arkansas Index up 2, ends at 425.94

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