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News in brief

January 8, 2022 at 2:50 a.m.

Ward is chairperson

of fed branch in LR

Millie A. Ward, president of the Little Rock advertising agency Stone Ward, has been elected chairwoman of the Little Rock Branch of the Federal Reserve Bank of St. Louis.

Ward, who is serving her second three-year term on the board, succeeds Vickie D. Judy, chief financial officer and vice president of America's Car-Mart Inc. in Rogers.

Other board members include Christopher B. Hegi, president and chief executive officer of First Financial Bank in El Dorado; Vincent G. Logan, chief financial officer and chief investment officer at the Native American Agriculture Fund in Fayetteville; and Darrin Williams, CEO of Southern Bancorp Inc. in Little Rock.

The bank also announced that Jamie J. Henry, vice president of finance, emerging payments at Walmart Inc. in Bentonville, has been reappointed by the Federal Reserve board of governors to a three-year term.

Jeff Lynch, president and CEO of Eagle Bank & Trust Co. in Little Rock, also has been reappointed by the St. Louis Fed board of directors to a three-year term, according to a news release.

-- Noel Oman

Builder sues Tyson

over plant payments

A construction firm has sued Tyson Foods, claiming it was shorted payments for work done on the meat company's new poultry processing facility in Humboldt, Tenn.

Gray Construction of Kentucky, the primary contractor on the project, says Tyson failed to fully pay for work carried out on its poultry complex, which includes a processing plant, feed mill and hatchery.

According to court documents, other contractors working on the project failed to complete their jobs on time, resulting in delays and unforeseen costs for Gray.

There are a number of project changes that Gray wants compensation for as a result, including costs related to weather setbacks and for masks needed during the coronavirus pandemic.

The contractor is seeking at least $3.45 million.

A spokesman for Tyson Foods declined to comment on the matter.

The Industrial Development Board of Gibson County is also a defendant in the case filed in a federal court in Jackson, Tenn.

Tyson shares rose 15 cents, or less than 1%, to close Friday at $91.01 on the New York Stock Exchange.

-- Nathan Owens

In Arkansas Index

Dillard's, P.A.M. fall

The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, closed Friday at 770.05, down 19.18.

The index is down 0.29% for the year.

Shares of Dillard's Inc. fell 8.8%, and P.A.M. Transport shares fell 3.8%.

Shares of USA Truck rose 2.5%, and Walmart shares rose 1%.

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

Print Headline: News in brief


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