March 2009
A 'new' Holiday Inn in town?
Mon, 03/23/2009 - 11:14am — adminThis week I received an e-mail from a reader wondering about a sign indicating a new Holiday Inn Express is coming to Sanders Road. This was confusing, because there is already a Holiday Inn Express right there.
I talked to the Conway planning department. Apparently, the franchise rights on the existing Holiday Inn Express are running out, and so the existing hotel will be re-branded and owner Ken Patel will build a new Holiday Inn Express. Apparently this is not at all an unusual practice in the hotel business.
Vintage Vicki
Vicki Teague has opened M. Antoinette's at 1304 Oak St. For Razorback fans, that is the former location of the Hog Pen Corner.
Administration wants to buy up banks' toxic assets
Mon, 03/23/2009 - 11:07am — adminWASHINGTON Struggling to contain the worst financial crisis in seven decades, the Obama administration wants to buy billions of dollars of toxic assets from banks to ease borrowing for consumers and businesses.
Some industry officials familiar with the details said Saturday they expected the approach would try to remove as much as $1 trillion from banks' books. An announcement from Treasury Secretary Timothy Geithner could come as early as Monday.
If banks are not burdened by the soured loans, then they would be in better shape to resume more normal lending.
Stocks fall, still log second week of gains
Mon, 03/23/2009 - 10:54am — adminNEW YORK (AP) Citigroup's chief financial officer, Gary Crittenden, is leaving his post and becoming chairman of Citi Holdings, the unit created to sell off the bank's riskier assets.
A person familiar with the decision said Crittenden decided to change jobs due to an illness in his family. The person spoke on condition of anonymity because of the sensitivity of the matter.
The chairman role created for Crittenden will be a part-time responsibility overseeing the long-term strategy of Citi Holdings, the person said. Citi Holdings has an interim chief executive, Mike Corbat, who is in charge of day-to-day responsibilities.
Incorporations
Mon, 03/16/2009 - 8:45am — adminHambuchen Lighting Inc., 724 Second St., Conway, was incorporated on March 2 by Jill Turner.
Recreation Nation Sports Inc., 43 Millstone Drive, Greenbrier, was incorporated on March 2 by John R. Whitener.
Elite Design Inc., 3430 Irby Drive 1009, Conway, was incorporated on March 5 by Courtney Utley.
Hardwick Remodeling Inc., 156 Black Fork Road, Greenbrier, was incorporated on March 6 by David Hardwick.
Carl Stuart Middle School PTO Inc., 2745 Carl Stuart Road, Conway, was incorporated on March 2 by Sue Farris.
Mkhaw LLC, 8 Lexington Drive, Conway, was incorporated on March 2 by Vicki L. McCarron.
Erak LLC, 3685 Gresham Drive, Conway, was incorporated on March 3 by Eric Massey.
UPS chief received $5.2M in '08
Mon, 03/16/2009 - 8:44am — adminATLANTA (AP) The chairman and chief executive officer of UPS Inc., Scott Davis, received total compensation valued at $5.2 million in 2008 his first year at the helm of the world's largest shipping carrier, according to a regulatory filing Friday. That was about 16 percent more than his predecessor received in 2007.
According to an analysis of the filing with the Securities and Exchange Commission, Davis, 57, received a salary of $960,000, a bonus of $40,000 and a performance-based bonus of $136,944.
He received all other compensation of $30,014, including $6,900 for 401(k) matching contributions, $4,386 related to life insurance premiums, $5,498 related to a restoration plan rollover option involving pension benefits and $13,230 for financial planning services.
Comcast, Sony to open retail store
Mon, 03/16/2009 - 8:41am — adminPHILADELPHIA (AP) Despite the poor economy, Comcast Corp. and Sony Corp. plan to open a retail store Tuesday. The cable TV operator and the electronics company will use the store to showcase new technologies and products, taking a page from Apple Inc., as Microsoft Corp. might also soon try to do.
The store will be called Sony StyleComcast Labs and ensconced in the Comcast Center, the newest skyscraper in Philadelphia and headquarters of the nation's largest cable operator.
The store, more than 3,400 square feet, will show off such things as home broadband equipment that would enable people to surf at 100 megabits per second roughly 17 times the average speed of cable broadband.
Comcast plans to roll out service that fast by year's end.
Toad Suck Daze accepting business applications
Mon, 03/16/2009 - 8:38am — adminThe Toad Suck Daze committee is now accepting applications for its Business Expo. The Business Expo is open to all businesses, non-profits and organizations. It is designed for businesses to get their information out to the more than 160,000 people that attend Toad Suck Daze. There are a limited number of spaces, and the Business Expo Committee will jury and place all booths.
Booth space is $175 for a 12 by 12 spot. Business Expo will be open on Saturday and Sunday of the festival. For more information, contact the Conway Chamber of Commerce at 327-7788. Toad Suck Daze 2009 will be held on May 1-3 in downtown Conway.
Vilonia waterworks gets new facility
Mon, 03/16/2009 - 8:36am — adminVILONIA - A new facility will "take the Vilonia Waterworks Association many years down the road," officials say.
Completed in the fall, the association moved from the old facility on U.S. Highway 64 in Vilonia into a new facility at Industrial Park Drive Dec. 8.
The new facility, according to Cecil McMurtry, general manager, is double the size of the old facility as well as has "a lot better parking." Plus, a drive-thru window was installed to better serve customers, he interjected.
It was said about 60 percent of those paying their bills utilize that drive thru window.
About 20 employees including 14 full-time employees work in and from the building serving the needs of the public. Seven of which have water licenses.
Deep split over an economic fix as ministers meet
Mon, 03/16/2009 - 8:33am — adminWASHINGTON The leaders of the world's most powerful economies are deeply split over how to fight a downturn that is intensifying around the globe, with no nation in a position of strength as finance ministers gather to talk about the crisis.
The United States is pushing for more worldwide stimulus measures, but Europe wants world leaders to focus instead on stricter oversight, arguing that lax American regulation is to blame for the economic decline in the first place.
Complicating the international tension, the premier of China, which holds more than $727 billion in U.S. Treasury securities and is by far the biggest U.S. creditor, expressed concern Friday about the safety of his government's investments.
Coffee shop heads downtown
Mon, 03/16/2009 - 8:30am — adminIf you are a fan of coffee, this is news for you.
A well-established espresso drink business has expanded and has big plans for the future. Ketchum's Cappuccino, owned and operated by Dale Ketchum, has been serving coffee in Conway in since 1993. Ketchum has been in a few different locations, including a year in the Hendrix student center and a year on Oak Street in the Halter building. For the past 10 years, he has operated at drive-through at 2125 Harkrider Street. He has catered to people on their way to work, who call in their order then swing by and pick it up on the way.