Subject: Tuesday Morning Briefing
From: Talk Business <[email-masked]>
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Date: Tue, 26 Apr 2016 11:48:03 +0000
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INVESTIGATIONS, COMPLIANCE RESPONSES TO CORRUPTION ALLEGATIONS HAVE COST WAL-MART $738 MILLION: Allegations of bribery and violation of the Foreign Corrupt Practices Act (FCPA) have cost Wal-Mart Stores $738 million in legal fees and compliance restructuring efforts over the past four years. Wal-Mart plans to spend between $100 million and $120 million again this year on FCPA matters, which would bring the tally to more than $848 million since 2013.

It’s now four and a half years since Wal-Mart launched its own internal investigation and confirmed an FCPA probe was underway in Mexico. The public disclosure by Wal-Mart occurred in November 2011 but it became public knowledge with the New York Times story publicized Nov. 21, 2012. A year later, Wal-Mart said the investigation had now expanded to include Brazil, India, China and elsewhere it also conducted business.

FCPA professor Mike Koehler, who spent 10 years as an FCPA lawyer and now teaches law at Southern Illinois University, told Talk Business & Politics that there are equal chances the investigation could wrap up this year or linger into 2017. Read his comments at this link (http://talkbusiness.us2.list-manage.com/track/click?u=4403c46412536341322b6e88c&id=decc7a7127&e=b5f4886f5f) .

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GOVERNOR TO HOLD PRESS CONFERENCE ON $1.3 BILLION SUN PAPER PROJECT: Gov. Asa Hutchinson will hold a news conference Tuesday morning to provide an update on the state’s ongoing discussions with Sun Paper, a China-based paper company looking to locate a $1.3 billion operation in south Arkansas. During a trade mission to Asia late last year, Hutchinson joined Chairman and Founder of Sun Paper Hongxin Li to sign a letter of intent of investment cooperation with Sun Paper. The agreement called for more concrete details to be decided by May 1.

DELTIC TIMBER 1Q EARNINGS SLIDE: Deltic Timber Corp.’s first quarter earnings were down 79% from a year ago as weak markets for wood products, a decrease in oil and gas-related income and higher operational and administrative expenses cut into the company’s bottom line, the company reported (http://talkbusiness.us2.list-manage.com/track/click?u=4403c46412536341322b6e88c&id=c0ca3b93c4&e=b5f4886f5f) on Monday after the close of market. For the period ended March 31, Deltic reported earnings of nearly $400,000, or three cents per share, compared to net income of $1.9 million, or 15 cents per share, compared to a year ago. Total revenues rose slightly to $50.6 million, compared to $48.3 million in the same period of 2015.

WALTON FAMILY FOUNDATION HELPS FOUR NW ARKANSAS NONPROFITS WITH INNOVATION FUNDING: Improving downtowns and promoting healthier living in Benton County were two main causes the Walton Family Foundation chose to support with its Innovation Completion funding recently awarded to four local nonprofits. The funding limit for each recipient was $25,000, modest by some standards, but enough to help these recipients with their plans. The program is spearheaded by Steuart Walton, board member for the Foundation, who announced the funding competition in January. Read more about the investments supported at this link (http://talkbusiness.us2.list-manage.com/track/click?u=4403c46412536341322b6e88c&id=855e1d1738&e=b5f4886f5f) .

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PROVISION IN SENATE APPROPRIATIONS BILL PAVES WAY FOR U.S. 67 TO BECOME I-57: U.S. Sen. John Boozman, R-Ark., on Monday (April 25) said a provision in the Fiscal Year 2017 Transportation, Housing and Urban Development funding bill would put Arkansas on the path to add another interstate highway to the nation’s transportation system.

The Senate Appropriations Committee reported the bill on Thursday containing Boozman’s language, designating U.S. 67 from North Little Rock to Walnut Ridge as “Future I-57.” The bill would also give Arkansas the ability to request that any segment of the road that is built to interstate standards be officially added to the federal interstate system as “I-57.” Read much more at this link (http://talkbusiness.us2.list-manage.com/track/click?u=4403c46412536341322b6e88c&id=54d5757a02&e=b5f4886f5f) .

REPORT: 1 IN 11 ARKANSAS CHILDREN HAS A PARENT WHO HAS BEEN INCARCERATED - Nine percent of Arkansas children have had a parent in jail or prison during their childhood, says a new report from the Annie E. Casey Foundation. The newly released report, “A Shared Sentence,” looked at figures from 2011-12. Sixty-one thousand Arkansas children have had a parent incarcerated at some point, it said. Nationally, 5.1 million children, or 7% of the population, have had a parent incarcerated. How does Arkansas compare to other states and what does the report suggest could be done to alleviate problems surrounding the issue? Read more here (http://talkbusiness.us2.list-manage.com/track/click?u=4403c46412536341322b6e88c&id=f2005af891&e=b5f4886f5f) .

AG RUTLEDGE GIVES GREEN LIGHT FOR RECREATIONAL MARIJUANA MEASURE TO COLLECT SIGNATURES: Attorney General Leslie Rutledge (R ) okayed a potential ballot measure to change Arkansas' constitution to allow for the "regulation of industrial hemp, permit the purchase, possession and cultivation of recreational and medical marijuana, and other purposes." Rutledge's office certified the popular name, The Arkansas Cannabis Amendment, but substituted the ballot title. Supporters of the proposed constitutional amendment must now collect more than 86,000 signatures by a July deadline to qualify for the November ballot.

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"Arkansas has worked for decades to build this road. The time has come to start calling it what it is — an interstate-quality highway that connects Arkansas farms, factories and travelers, to the rest of our country." - Sen. John Boozman, R-Ark., on the effort to designate U.S. Highway 67 as I-57.

"It’s in Wal-Mart and the government’s best interests to have one settlement." - Federal Corruption Practices Act professor Mike Koehler, who spent 10 years as an FCPA lawyer and now teaches law at Southern Illinois University.

"Incarceration breaks up families, the building blocks of our communities and nation. It creates an unstable environment for kids that can have lasting effects on their development and well-being." - Excerpt from a new Annie E. Casey Foundation report, “A Shared Sentence,” looking at Arkansas incarceration figures from 2011-12.

"After reflecting on your stated desire for a new direction and with a realization that there are other pursuits for me which the obligations of the job have prevented, I have decided that it is time to transition from the 24/7 life of a school administrator to a less-confining lifestyle. I am not ‘quitting work,’ but there are other things I can do which will be rewarding and productive." - Fort Smith Public Schools Superintendent Benny Gooden, one of the longest serving superintendents in Arkansas, who announced Monday (April 25) he will resign effective June 30.

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