Subject: Tuesday Morning Briefing
From: Talk Business <[email-masked]>
To: <[email-masked]>
Date: Tue, 3 May 2016 11:41:29 +0000
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ARKANSAS ECONOMY TAKES STEP BACK ON MANUFACTURING, ENERGY, AGRI SECTOR WOES: Business growth in Arkansas lost a step in April as a leading economic indicator for the region shows the state’s manufacturing, farming and energy sectors continue to shed jobs and affect overall economic expansion.

In April, Arkansas’ overall business index dipped below growth neutral to 49.5 from March’s 51. Components of the index from the monthly survey of supply managers were new orders at 50.7, production or sales at 50.1, delivery lead time at 52.4, inventories at 49.7, and employment at 44.9, according to a highly-watched Creighton University Mid-America Business Conditions index (http://talkbusiness.us2.list-manage1.com/track/click?u=4403c46412536341322b6e88c&id=f9990c6fb9&e=b5f4886f5f) .

The Creighton Economic Forecasting Group has conducted the monthly survey of supply managers in Arkansas, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, Oklahoma and South Dakota since 1994 to produce leading economic indicators of the Mid-America economy. A reading above 50 indicates the manufacturing economy is expanding; below 50 indicates it is contracting.

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CS&L COMPLETES FIRST ACQUISITION SINCE WINDSTREAM SPIN-OFF A YEAR AGO, DEAL WORTH $409 MILLION: Communications Sales & Leasing Inc. (CSL) on Monday completed its $409 million acquisition of PEG Bandwidth LLC, a Lewisville, Texas-based operator of dark fiber and cell site backhaul assets for mostly rural telecom carriers and enterprises. The deal is the first acquisition for CS&L since the Little Rock-based real estate investment trust (REIT) was spun off from Windstream Holdings Inc. just over one year ago. PEG has an extensive fiber network consisting of over 300,000 strand miles in the Northeast/Mid-Atlantic, Illinois and South Central regions of the U.S. Read more here (http://talkbusiness.us2.list-manage.com/track/click?u=4403c46412536341322b6e88c&id=a482c29354&e=b5f4886f5f) .

IP TO BUY WEYERHAEUSER’S PULP BUSINESS FOR $2.2 BILLION: International Paper entered into a definitive agreement (http://talkbusiness.us2.list-manage.com/track/click?u=4403c46412536341322b6e88c&id=395dcbaccc&e=b5f4886f5f) to purchase rival Weyerhaeuser’s Cellulose Fiber pulp business that it first put up for sale following the acquisition of Plum Creek Timber Co. for $23 billion, the two timberland and paper products giants announced Monday (May 2) in separate news releases. Under terms of the $2.2 billion sale, Memphis-based IP will acquire five pulp mills and two converting facilities that produce fluff pulp, softwood pulp and specialty pulp for a number of consumer applications including diapers, hygiene products, tissue and textiles. The deal does not include any of Weyerhaeuser’s operations in Arkansas.

FAYETTEVILLE SHALE OIL SERVICE OPERATORS HALLIBURTON, BAKER HUGHES CALL OFF $35 BILLION BLOCKBUSTER MERGER: Oilfield service giants Halliburton Co. and Baker Hughes Inc., both of which played key roles in providing technology to help drillers ramp up the Fayetteville Shale, announced Sunday (May 1) that the two companies have terminated their $35 billion merger over concerns from U.S. antitrust regulators. The breakup of the blockbuster deal by two of the largest oil and gas drilling, technology and equipment companies, effective April 30, also means that Halliburton will have to pay smaller Houston-based rival Baker Hughes a $3.5 billion termination fee by May 4, company officials said (http://talkbusiness.us2.list-manage2.com/track/click?u=4403c46412536341322b6e88c&id=8bc17344eb&e=b5f4886f5f) .

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GOV. HUTCHINSON’S CHIEF OF STAFF RESIGNS, LEAVES FOR NEW 'OPPORTUNITY': Michael Lamoureux, Gov. Asa Hutchinson’s chief of staff, is leaving his post at the end of May, the governor’s office announced Monday (http://talkbusiness.us2.list-manage.com/track/click?u=4403c46412536341322b6e88c&id=f1cc9b02ce&e=b5f4886f5f) (May 2). In a press release from Hutchinson’s office, Lamoureux said he was leaving “for another opportunity.” Hutchinson’s spokesman, J.R. Davis, said no other details are available and a replacement has not been named.

Hutchinson said in the release, “Michael has been an essential part of my team from the beginning, and I will greatly miss his counsel and strategic thinking. There are very few people who offer the same depth of state government experience as Michael, and his service as my chief of staff has proven key in accomplishing my legislative agenda. I wish him all the best in his future opportunities.”

ELDRIDGE USES TRUMP'S RHETORIC AGAINST BOOZMAN IN ONLINE VIDEO: Jacob Kauffman with content partner KUAR FM 89.1 News reports that Democratic U.S. Senate candidate Conner Eldridge is hoping GOP anxiety that Donald Trump’s presidential campaign will hurt Republicans down the ballot will materialize in his race against incumbent John Boozman. The Eldridge campaign released a web advertisement titled “Harassment” on Monday that strings together about a dozen statements made by Mr. Trump demeaning women. Watch the video and read Eldridge's statements on the ad, which made national waves on Monday, at this link (http://talkbusiness.us2.list-manage.com/track/click?u=4403c46412536341322b6e88c&id=77541d35ed&e=b5f4886f5f) .

JUSTIN ALLEN: ARKANSANS SHOULD VOTE ON THE JUDICIAL SELECTION PROCESS - Wright Lindsey Jennings attorney Justin Allen argues that voters should be given a choice on potentially changing the judicial selection process. A wave of dark money spending in Arkansas judicial races has raised concerns about the voting process for selecting judges; some want to mirror other states that allow for the appointment and retention of judges. "This issue is worthy of the electorate’s consideration and, therefore, it’s time to refer it to the people. They will vote it up or down and we will live with that decision," he writes. Read his full take here (http://talkbusiness.us2.list-manage.com/track/click?u=4403c46412536341322b6e88c&id=13f9ab7381&e=b5f4886f5f) .

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LOTTERY COLLECTS UNPAID CHILD SUPPORT: While known for handing out jackpot prizes and collecting scholarship money for college students, the Arkansas Scholarship Lottery has served another public service: collecting child support owed. Before a lottery prize may be collected, the Arkansas Scholarship Lottery works with the Arkansas Office of Child Support Enforcement to ensure that any winning players do not owe child support. According to lottery officials, nearly $50,000 in unpaid child support payments were collected in the month of March from prize winners.

“We want Lottery players to win, but not at the expense of their children and families,” Arkansas Scholarship Lottery Director Bishop Woosley said. “So we are glad the Lottery is able to serve as a conduit for these families to receive their unpaid and overdue financial support.”

UA DEPARTMENT OF ANIMAL SCIENCE EARNS EQUINE ACCREDITATION: The D.E. King Equine Program in the University of Arkansas’ Department of Animal Science has earned national accreditation and certification from the Certified Horsemanship Association following an extensive on-site review. The equine program, housed in the Dale Bumpers College of Agricultural, Food and Life Sciences, even earned some perfect scores in several areas - a feat not previously achieved, according to UA officials.

“We have never been so impressed with the information presented to us documenting standards as we were with what Dr. Jogan [instructor/barn manager] and the University of Arkansas presented to us,” said Polly Haselton Barger, lead reviewer for the association. “In fact, this is the first time we have ever asked for copies of standards compliance notebooks. We intend to use them as teaching tools for our reviewer teams.”

JOHN BROWN UNIVERSITY LANDS $3 MILLION GRANT: John Brown University has received a $3 million lead challenge grant from the Windgate Foundation for a new $6 million renovation project on Mayfield Residence Hall, the university’s historic women’s dormitory. The renovation to the 247-bed facility is expected to begin in spring 2017 and be completed by summer 2018.

JBU will rebuild each of the resident rooms with high-efficiency LED lighting, sound-resistant construction, sinks, and new, modular furniture, which will allow residents to maximize and personalize their room. The renovation also includes: new bathrooms and plumbing; new furniture, equipment and décor for all of the common areas; a new HVAC system; and a modern fire suppression system. Originally opened in 1964, the hall had one major addition in 1978 — the construction of a new wing increasing bed capacity by 100.

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"A somewhat weaker U.S. dollar, making U.S. goods more competitively priced abroad, contributed to stabilizing business conditions across the region.  At the same time continuing weakness in the region’s agriculture and energy sectors remains an obstacle to improving overall growth." - Ernie Goss, director of Creighton University’s Economic Forecasting Group.

"He’s an enabler. You should lead when you hear comments like this and that’s why I’ve put this ad out, to call these comments out for what they are: offensive, harassing, and things an incumbent U.S. Senator regardless of party ought to condemn." - Democratic Senate candidate Conner Eldridge, whose new ad suggests Sen. John Boozman should condemn condescending comments made by GOP Presidential frontrunner Donald Trump.

"Our goal in Northwest Arkansas is clear; we support quality of life initiatives that help the region attract and retain top talent." - Karen Minkel, home region director for the Walton Family Foundation on a survey conducted to gauge Northwest Arkansas living.

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