The Arkansas Business Hall of Fame will induct four new members today with backgrounds in real estate, publishing, construction and banking.
With the addition of Gerald Alley, Olivia Farrell, Charles Nabholz and Reynie Rutledge, the hall of fame will have 90 members from 22 classes since the first induction in 1999. The hall of fame, established by the Sam M. Walton College of Business, is designed to honor business leaders who have made a lasting impression on the state.
The event will be held at the Statehouse Convention Center in Little Rock. It begins with a reception at 5:30 p.m., and dinner and program at 6:30 p.m. Tickets for the ceremony, which is black-tie optional, are $150.
GERALD ALLEY
Gerald Alley, president and chief executive officer of Con-Real, LP, got his foot in the door with a contract to build a Taco Bell in south Dallas. He had never built a restaurant before and it turned out to be a financial loss. But from that experience, he adapted, came up with a solution to fast-track construction jobs, and was doing business with more than 10 major restaurant brands three years later.
Alley was born the youngest of five children in Pine Bluff in the fall of 1952. He attended the University of Arkansas, Fayetteville at the age of 16, majoring in finance, and graduated with a master's degree in business administration at Southern Methodist University, before founding Con-Real in 1979 with his brother, Troy Jr. The business began with one desk, one project and one assistant. Today, it is one of the largest black-owned construction and real estate firms in the South.
After developing several chain restaurants, Con-Real scored a joint venture contract to build a large underground parking garage in Dallas, which led to more projects in the 1980s, including retail stores, schools, entertainment venues, grocery stores and medical offices.
Today, the Arlington, Texas-based firm offers a range of construction, real estate, program management and technology services to clients around the world.
OLIVIA FARRELL
Olvia Farrell of Little Rock might be best known for her work growing the Arkansas Business Publishing Group from a lone publication -- Arkansas Business -- in 1995 to a niche company with 30 publications. But perhaps more importantly, she blazed a trail for Arkansas women in all business fields.
Farrell graduated magna cum laude from the University of Arkansas at Little Rock and began her publishing career in 1978, working for the Arkansas Writers Projects as part of the advertising sales department of the Arkansas Times. She eventually became its publisher and founded Arkansas Business in 1984. Ten years later Farrell bought the publication, created Arkansas Business Publishing Group and took the helm as chief executive officer and principal owner.
In 1995, Arkansas Business published an article highlighting the lack of women on corporate boards in the state that included a quote from a bank president who justified the lack of representation by stating that no women were qualified.
In response, Farrell created a magazine promoting the top 100 women in Arkansas, which was included in every copy of Arkansas Business and sent to corporate leaders throughout the state. She continued to promote the top 100 women for five years through 1999.
Throughout her professional career she has served on several boards such as the Women's Foundation of Arkansas -- a nonprofit that promotes women to develop skills in science, technology, engineering and math -- which Farrell helped create.
She was inducted into the Arkansas Women's Hall of Fame last year and has received numerous awards for her influence.
CHARLES NABHOLZ
At the age of 13, Charles Nabholz helped his brothers build a house for the oldest brother, Bob. But before Bob and his wife, Barbara, could move in, a man offered to buy the house. Those profits were then parlayed into building more houses and later, duplexes and commercial projects. From that, Nabholz Corp. was born.
His career began after graduating from Conway's St. Joseph High School in 1954. He served as a laborer for Nabholz Construction and Nabholz Supply companies, learning the family trade before he founded Con-Ark Builders in 1962.
After moving to California to help start a commercial real estate business, Charles Nabholz agreed to be director of state building services for Arkansas Gov. Frank White from 1981 to 1983. He then joined his brothers to establish Nabholz Properties, and was elected to be a board member in 2000. He has been the chairman emeritus since 2014.
Nabholz is active on the board of directors for the CARTI Foundation, CHI-St. Vincent Medical System, Arkansas Research Alliance and many others. In his spare time, he plays golf and travels with his wife, Charlotte.
REYNIE RUTLEDGE
After earning a bachelor's degree in industrial engineering from the University of Arkansas, John Reynolds "Reynie" Rutledge was uncertain about a career. He had received job offers from IBM and AT&T, but it wasn't until he sat down with banker Max Mitcham that he decided to pursue something in that field.
Rutledge got a job as a loan officer at Worthen Bank in Little Rock, working there three years before taking a job at First State Bank in Springdale. At 27, he took the next big step. He secured a loan from Worthen Bank and bought First Security Bank in Searcy, a small bank that had been around since the 1930s.
Under his ownership, the Searcy bank began building a reputation of solid efficiency ratios and returns on assets.
Rutledge has served as a member of the Dean's Executive Advisory Board at the Sam M. Walton College of Business, the University of Arkansas board of trustees and the Executive Committee for Campaign Arkansas. He also was a chairman of the selection committee for the Arkansas Business Hall of Fame and the Arkansas Bankers Association. He serves on the board of directors for Dillard's Corp.
He was born Nov. 14, 1949, in the south Arkansas town of Smackover, where he would later work at his family's sawmill and play basketball as a Battlin' Buckaroo.
Business on 02/07/2020