Subject: Monday Morning Briefing
From: Talk Business <[email-masked]>
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Date: Mon, 2 May 2016 11:52:32 +0000
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AEDC DIRECTOR SAYS LOW UNEMPLOYMENT ALTERING JOBS RECRUITING STRATEGY: Arkansas Economic Development Commission executive director Mike Preston has been on the job for a little more than one year. This past week, his agency and the state landed one of the biggest investments in Arkansas history and peppered that success with a number of other job announcements.

Preston discussed those success stories on the latest edition of Talk Business & Politics. He also said that Arkansas' low unemployment rate of 4% has altered the agency's approach to recruiting jobs. Read his comments or watch a video interview at this link (http://talkbusiness.us2.list-manage.com/track/click?u=4403c46412536341322b6e88c&id=211c450b3c&e=b5f4886f5f) .

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SPRINT TO OPEN REGIONAL OFFICE IN LITTLE ROCK, ADD 100 JOBS BY END OF 2016: Sprint is opening a regional office in Little Rock that will add about 100 jobs by the end of the year and serve as the telecom company’s headquarters for a four-state region. The regional headquarters will be located at the end of I-630 in Little Rock at 900 South Shackleford Rd. According to the AEDC, Sprint plans to add about 100 new, full-time employees in Little Rock by the end of 2016 and several hundred positions throughout the state over the next three years. Read more here (http://talkbusiness.us2.list-manage.com/track/click?u=4403c46412536341322b6e88c&id=941c6a67d9&e=b5f4886f5f) .

P.A.M. TRANSPORTATION EARNINGS FALL 45% FROM DRIVER COSTS, STABLE FUEL PRICES: Tontitown-based P.A.M. Transportation Services reported net income of $2.934 million, or earnings per share of 41 cents, for the first quarter ended March 31. Profits tumbled 45% from $5.369 million, or earnings per share of 72 cents, a year ago because of higher driver costs and stable fuel prices. Revenue including fuel surcharges rose 4% to $103.589 million in the first quarter. A year ago the company’s total revenue was $99.483 million. Fuel surcharges totaled $9.94 million to begin 2016, down from $16.798 million in the same quarter of 2015. The company said without fuel surcharges revenues increased 13.3% to $93.648 million compared to $82.694 million a year ago. Read more here (http://talkbusiness.us2.list-manage.com/track/click?u=4403c46412536341322b6e88c&id=e6f66e10e2&e=b5f4886f5f) .

MAJOR GIFT, NEW CULINARY CENTER ANNOUNCED FOR NORTHWEST ARKANSAS COMMUNITY COLLEGE: A donation of a $1.5 million lead gift (http://talkbusiness.us2.list-manage.com/track/click?u=4403c46412536341322b6e88c&id=17269cc073&e=b5f4886f5f) toward the construction of a new Northwest Arkansas Community College facility in Washington County and a culinary center for the study of food represent the college’s vision, said NWACC President Evelyn Jorgensen. The donation comes from the estate of the late Jackson G. and Ella Frances Byrd, longtime residents of Springdale. The 50,000 square foot center will be built on 20 acres the college owns just west of Arvest Ballpark. Construction of the facility is projected to cost $15 million and will require 100% philanthropic funding. Construction is expected to begin in late 2017, provided the funds have been raised.

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REP. WESTERMAN DISCUSSES FEDERAL BUDGET, PUERTO RICO DEBT, AND WOMEN DRAFTED FOR MILITARY SERVICE: Fourth District Rep. Bruce Westerman, R-Hot Springs, says he thinks Congress will meet a May 15th deadline to approve a budget. He also says Puerto Rico needs to restructure its debt – not default – and he’s opposed to opening up the military draft for women, which Congress may vote on this year. Read or watch a video interview of Westerman on these subjects and more at this link (http://talkbusiness.us2.list-manage.com/track/click?u=4403c46412536341322b6e88c&id=e418555dfa&e=b5f4886f5f) .

TALK POLITICS ROUNDTABLE: FRANK D. SCOTT, JR. AND STEVE BRAWNER - TB&P contributors Frank D. Scott, Jr. and Steve Brawner discussed several highway and education issues on this week's edition of Talk Business & Politics. Those subjects include future Interstate 57, 30 Crossing, the Little Rock School District, and Education Commissioner Johnny Key. Watch the full interview here (http://talkbusiness.us2.list-manage.com/track/click?u=4403c46412536341322b6e88c&id=7f58a2aa4e&e=b5f4886f5f) .

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FDIC ADOPTS FINAL RULE TO AMEND HOW SMALL BANKS ARE ASSESSED FOR DEPOSIT INSURANCE: The Federal Deposit Insurance Corporation board of directors approved a final rule on April 26 that amends the way small banks are assessed for deposit insurance. The final rule affects banks with less than $10 billion in assets that have been FDIC insured for at least five years. It updates the data and revises the methodology that the FDIC uses to determine risk-based assessments for these institutions to better reflect risks and to help ensure that banks that take on greater risks pay more for deposit insurance than their less risky counterparts.

The new rule (http://talkbusiness.us2.list-manage2.com/track/click?u=4403c46412536341322b6e88c&id=b300ee5ab1&e=b5f4886f5f) is being touted as revenue-neutral, so that aggregate assessment revenue collected from established small banks is expected to be approximately the same as it would have been otherwise. The FDIC has revised the online assessment calculator that allows institutions to estimate their assessment rates to reflect the final rule, which will also be used to determine assessment rates for small banks beginning the quarter after the Deposit Insurance Fund reserve ratio reaches 1.15%, but no earlier than the third quarter of this year.

BANK CUSTOMER LOYALTY DECLINING: One in 3 consumers would consider leaving their bank for a better online or mobile experience, while 47% would consider Target or Walmart as a banking alternative, according to new market research by NTT Data Inc. In January 2016, the Plano, Texas-based research firm surveyed more than 1,000 U.S. consumers and more than 100 U.S. bankers to investigate core deposit system modernization efforts at leading U.S. banks and the rising threat of consumers looking for banking alternatives. The complete report will be published in June 2016. To request a copy, visit here (http://talkbusiness.us2.list-manage.com/track/click?u=4403c46412536341322b6e88c&id=50fa48061e&e=b5f4886f5f) .

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"We’ve got to add in the training programs and make sure that we can go from a great job to a better job. Also, it allows us to focus more on wages. We can be more selective when we’re recruiting companies in so that we can focus on those jobs that are really diversified in the economy and bringing in a higher wage." - AEDC director Mike Preston.

"Sprint is on a quest to win in this market, and our laser focus on localization now gives us the ability to tap into all of the talent right here in Little Rock, and throughout Arkansas." - Jonathan Blitz, Sprint president for the South Central region.

"While revenue growth was positive, it was not enough to overcome the many cost challenges we faced in year-over-year cost comparables, primarily as they relate to fuel costs, driver acquisition costs, and health care costs." - P.A.M. President Daniel Cushman.

"It’s something I’m really opposed to, but again, I’ve got to look at the exact language on it. I’ve got a 17-year old daughter and the last thing I want to do is require her or any other young lady to sign up for the draft." - Rep. Bruce Westerman on federal legislation that would require 18-year old women to register for the Selective Service.
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