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Priority1 Inc., which was founded in Little Rock in 1995 as a third-party logistics service for trucking and warehousing, said Tuesday it will hire 50 new employees at its headquarters in the Riverdale area of Little Rock.

Priority1 said it has more than 200 employees and 20 locations nationwide.

"We accomplish our mission through talented people, technology, industry expertise and value," Dan Berardi, chief executive officer of the privately held company, said in a news release. The company is a subsidiary of Priority Wire and Cable, which manages more than 500,000 shipments annually, and offers less than truckload, full truckload, expedited, roadshow, warehousing and ocean freight services.

Berardi cited the city of Little Rock, the Arkansas Economic Development Commission and the Little Rock Regional Chamber of Commerce in helping with the company's growth. "Priority1 has grown up in Little Rock, and we are proud of our roots," he said. "The Little Rock Regional Chamber and AEDC helped us create a solution that allows Priority1 to execute growth plans and perpetuate our brand through recruiting, training and developing top-tier talent."

-- Stephen Steed

Newman's Own board fires longtime CEO

WESTPORT, Conn. -- The Newman's Own Foundation said Tuesday that it removed Bob Forrester as its chief executive officer and president amid allegations of inappropriate behavior lodged by employees.

The foundation, in a statement, said Forrester was removed by an independent special committee of its board of directors. The group also appointed Jennifer Smith Turner to serve as the foundation's interim president and chief executive.

Newman's Own said the action was taken after an independent investigation.

Newman's Own was founded by actor Paul Newman in 1982. Forrester took over after Newman's death in 2008.

The foundation gives all profits from the sale of Newman's Own food products to charity.

Attempts to reach Forrester on Tuesday were not successful.

-- The Associated Press

Arkansas Index ends session 1.91 lower

The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, closed Tuesday at 412.86, down 1.91.

"U.S. stocks finished mixed on Tuesday as concerns over corporate earnings, along with a reduced need for interest rate cuts in July, was offset by news that the United States and China were set to relaunch talks this week after a two-month hiatus," said Chris Harkins, managing director at Raymond James & Associates in Little Rock.

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

Business on 07/10/2019

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