Subject: Thursday Morning Briefing
From: Talk Business <[email-masked]>
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Date: Thu, 21 Apr 2016 11:41:51 +0000
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JIM WALTON, MIKE DUKE TO EXIT WAL-MART STORES BOARD OF DIRECTORS, BOARD SHRINKS FROM 15 TO 12: Wal-Mart Stores continues to push for a younger leadership mix. The retail behemoth announced late Wednesday that Jim Walton, son of founders Helen and Sam Walton, will not seek re-election to the board, nor will former CEO Mike Duke, Aida Alvarez, and Roger Corbett.

The company also announced in an amended proxy filing with the U.S. Securities and Exchange Commission that as part of the board’s succession planning, it has nominated Helen and Sam Walton’s grandson, Steuart Walton, for election to the Walmart board. The changes will reduce the number of directors serving on the board from 15 to 12 directors.

“With these retirements, we view this as a time to make our board more nimble, while maintaining its independence and further aligning on Walmart’s strategic priorities," said Greg Penner, board chairman since June 2015. "Our board has the right skills and expertise to support the company’s strategy. We continue to believe that the value, quality and diversity of our directors are some of Walmart’s greatest strategic assets." Read more here. (http://talkbusiness.us2.list-manage.com/track/click?u=4403c46412536341322b6e88c&id=8afd6059d5&e=b5f4886f5f)

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THE COMPASS REPORT: ARKANSAS’ THREE LARGE METRO AREAS END 2015 WITH POSITIVE ECONOMIC TRENDS - Central Arkansas, Fort Smith and Northwest Arkansas saw solid economic improvement in the fourth quarter of 2015, according to the metrics analyzed in TB&P's quarterly Compass Report. The report is the only independent analysis of economic conditions in Arkansas’ three largest metro areas. The first ever grade of A was captured by the Northwest Arkansas metro in the fourth quarter. Read our full analysis plus commentary from economist Jeff Collins at this link (http://talkbusiness.us2.list-manage1.com/track/click?u=4403c46412536341322b6e88c&id=fff85e0e08&e=b5f4886f5f) .

BEAR STATE 1Q PROFITS HIT $3.3 MILLION, CONSOLIDATING MISSOURI BANK INTO OPERATIONS: Quarterly profits for Bear State Financial Inc. rose slightly from a year ago as the Little Rock community bank begins the consolidation of companywide operations following the acquisition of Metropolitan National Bank in Springfield, Mo., last year. For the period ended March 31, the former First Federal Bank of Harrison reported earnings (http://talkbusiness.us2.list-manage.com/track/click?u=4403c46412536341322b6e88c&id=6891e60b98&e=b5f4886f5f) of $3.3 million, or nine cents per share, compared to $2.3 million, or seven cents per share, in the first quarter of 2015. The Arkansas bank saw revenue of $20.6 million for the quarterly period.

JONESBORO CHAMBER’S D.C. TRIP PRODUCTIVE, OFFICIALS SAY: Jonesboro Regional Chamber of Commerce Vice President Cari White said Wednesday (April 20) that the annual trip that chamber and elected officials take to Washington, D.C. has provided dividends in the past. White said she is hopeful that this year’s trip can be as successful as the others.

During the trip, about 35 regional leaders who made the trip met with U.S. Sens. John Boozman, R-Ark. and Tom Cotton, R-Ark., U.S. Rep. Rick Crawford, R-Jonesboro, and staff members for U.S. Reps. French Hill, R-Little Rock, Steve Womack, R-Rogers, and Bruce Westerman, R-Hot Springs. Conversations ranged from making airport improvements at Jonesboro's regional airport to gaining interstate status for U.S. Highway 67, an important economic development fundamental. Read more here (http://talkbusiness.us2.list-manage.com/track/click?u=4403c46412536341322b6e88c&id=53b047e20d&e=b5f4886f5f ) .

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ARKANSAS WORKS APPROVED AFTER HEATED SENATE DEBATE, NOW FACES HOUSE VOTE: One week after convening the fiscal session of the 90th General Assembly, the Arkansas Senate on Wednesday (April 20) approved an amended appropriations bill to fund Gov. Asa Hutchinson plan to expand his Arkansas Works program. By a vote of 27 yeas, two nays, five presents, and one not voting, the Republican-leaning upper chamber gave Senate Bill 121 the necessary two-thirds approval for the legislation to now move to the governor. The amended legislation is set for a Thursday vote in the Arkansas House. If approved, it will be sent to Gov. Asa Hutchinson, who is expected to line-item veto a provision terminating funding on a certain date, thus allowing funding to continue. Read more here. (http://talkbusiness.us2.list-manage.com/track/click?u=4403c46412536341322b6e88c&id=4551f57348&e=b5f4886f5f )

KERRI JACKSON CASE: I LOVE YOU. YOU’RE PERFECT. NOW CHANGE. - Little Rock resident and TB&P contributor Kerri Jackson Case opines on the abrupt change in leadership at the helm of the Little Rock School District. Superintendent Baker Kurrus' dismissal and replacement with Bentonville superintendent Michael Poore has raised questions with many in the community. "They’ve decided to take the closest thing to a consensus leader we could hope for right now and replace him with a stranger without explanation," Case writes. Read her full commentary at this link (http://talkbusiness.us2.list-manage1.com/track/click?u=4403c46412536341322b6e88c&id=526f34091f&e=b5f4886f5f) .

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ACXIOM'S LIVERAMP ADDS NEW CHIEF MARKETING OFFICER: Jeff Smith has been hired as Chief Marketing Officer for Acxiom's LiveRamp company. LiveRamp is digital marketing platform that harnesses data for advertising and marketing campaigns. Smith comes from Nielsen and brings 20+ years of global experience building world-class, revenue-focused marketing teams in companies ranging from high-growth start-ups to Fortune 100 businesses, the company said. In his new role as CMO of LiveRamp, Smith will report to Travis May, LiveRamp’s president and general manager.

BENTONVILLE FILM FESTIVAL ORGANIZERS HOPE IT BECOMES ARKANSAS’ SOUTH BY SOUTHWEST: Plans are being finalized for the second annual Bentonville Film Festival (BFF) to be held May 3-8, 2016 in downtown Bentonville. Trevor Drinkwater, founder and CEO of ARC Entertainment and co-founder of the festival, said that, as it grows, he envisions BFF becoming a unique blend of films, music and digital content. “We definitely believe that this will become more like a South by Southwest than a Cannes Film Festival. Ultimately that’s what we’d like to hit,” he said.

Co-founded in 2015 by Academy Award Winner Geena Davis, founder and chair of the Geena Davis Institute on Gender in Media and Trevor Drinkwater, founder and CEO of ARC Entertainment, the Bentonville Film Festival is a commercial platform with the mission to champion women and diverse voices in media. It is the only festival to offer winning films guaranteed distribution. For the second year, winning films will receive full distribution from Walmart, VUDU and AMC Theaters. Read more here (http://talkbusiness.us2.list-manage.com/track/click?u=4403c46412536341322b6e88c&id=84d31dadb0&e=b5f4886f5f) .

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"I am pleased with today’s vote in the Senate. This, of course, is just one step in the overall process, but I am confident that the bipartisan approach that achieved success in the senate will provide momentum for this strategy for funding Arkansas Works as it heads to the house floor tomorrow." - Gov. Asa Hutchinson.

"The contributions of each of our four retiring board members cannot be overstated, and we wish them all continued success in the future." - Wal-Mart board chairman Greg Penner on the retirement of several board members including Jim Walton and former CEO Mike Duke.

"Despite the gridlock in Washington, economic meltdown in China, terrorist attacks in Europe, and ongoing unrest in the Middle East, Americans are doing what they do best, spend. This is evident in the consumption and retail data as well as historically low household debt payments as a percentage of disposable income." - Economist Jeff Collins.

"It was fast and furious." - Jonesboro Chamber of Commerce COO Cari White on the chamber's business trip to Washington, D.C.
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