The Arkansas Regional Innovation Hub and Startup Junkie Consulting announced Wednesday that they have entered into a collaborative partnership to work with early-stage startup business ventures across the state.

Through the new partnership, the Innovation Hub and Startup Junkie will develop and share new facilities, events, and programs that will support and advance startup ventures in Arkansas. Some collaborative services include consulting, education, mentoring, events, and networking to the founder and creative community.

The programming developed by the Innovation Hub in its Launch Pad maker space around advanced manufacturing and fast prototyping will be complemented by Startup Junkie’s expertise in mentoring, counseling, training, and assistance to startup founders, technologists, creatives, investors, and corporate innovation clients, the two groups said.

In a press release announcing the news, the two entities said the combined efforts will provide the infrastructure and support needed to “conceive, develop, validate, and launch new innovative products, services, and ventures in less time with a greater probability of success.”

Startup Junkie will be visible and active in the Innovation Hub’s main headquarters facility in Central Arkansas, as well as in new locations around the state as they are developed.

“Working together, we can leverage our respective strengths to bring a full complement of resources, services, and expertise to further build the entrepreneurial ecosystem in Arkansas,” said Warwick Sabin, executive director of the Arkansas Regional Innovation Hub. “Startup Junkie has a proven record of success in Arkansas and the Ozarks region with early-stage venture development, and we look forward to working with them to create infrastructure and programming that can have a statewide impact.”

“This teaming agreement will allow us to build real depth to the startup and creative movement in the south central United States,” said Jeff Amerine, founding principal of Startup Junkie Consulting. “The Startup Junkie team is humbled and honored to be working with the world-class team Warwick has assembled at the Arkansas Innovation Hub.”

Madison Martinez, a student at the University of Arkansas, and Lauren Smith, a student at Van Buren High School, will receive a scholarship offered by Gerdau. They are two of only 15 students to receive the scholarship, which is open to the children of Gerdau employees in North America.
 
“Gerdau recognizes students that not only succeed in the classroom, but are also involved in school and the community,” said John Kelleher, general manager at Gerdau’s Fort Smith mill. “We are proud to support these two students as they work hard to achieve their goals.”

Gerdau is one of the largest suppliers of special steel in the world.

Both students were honored for their achievements during a scholarship ceremony at the Fort Smith steel mill on June 5. The company’s human resources manager Jennifer Pogue presented the awards. Martinez’s father accepted the award for her.
 
Martinez’s father, Marty Martinez, is an improvement facilitator III and has worked for Gerdau for the last 17 years. Madison Martinez is majoring in chemistry with a concentration in biology at the University of Arkansas. After receiving her undergraduate degree, she wants to attend medical school and specialize in cardiology.

Madison Martinez volunteers at the Boys and Girls Club and the Veterans Affairs hospital. She recently founded a registered student organization called Foundation for International Medical Relief of Children. This foundation works towards creating improved health care for families in developing countries through self-sustainable programs. Medicine has always been a passion of hers, and she believes this career will allow her to give back to society. She hopes in the future to have the opportunity to volunteer oversees with the organization.
 
Smith’s father, James Lawler II, is an assistant bar finishing operator and has worked for Gerdau for the last 17 years. Smith is graduating from high school in the top 10% of her class, with a College Prep High Honors diploma, and she was a member of the National Honor Society, Family Career and Community Leaders of America, Future Teachers of America and co-captain of her high school dance team. She was accepted to the University of Arkansas, where she will study education. Due to her personal experience working with people with special needs, she hopes to teach special education after graduating.

Gerdau Scholarship recipients are awarded a $2,500 annual stipend towards their undergraduate degrees for up to four years for a total of $10,000. Selection is based on standardized testing scores, academic performance and contributions to their schools and communities. Candidates are required to submit an essay outlining their personal characteristics, activities, plans and goals.

The Gerdau Scholarship program is designed to promote Gerdau’s commitment to education, one of the pillars of the company’s social responsibility program. Other pillars of this program include quality of management and community support.

Colleen Briney, assistant dean for finance in the College of Engineering, has been named the new associate vice chancellor for business affairs at the University of Arkansas, effective July 1.

Briney will be the chief business officer for the UA, responsible for areas including procurement, accounts payable, travel and surplus property which includes: risk management; transit and parking; print-mail-Copy services; the University Bookstore; and the Garland Center leased retail space. She will report to Tim O'Donnell, interim vice chancellor for finance and administration.

Briney has worked at the UA for 32 years, starting as a staff accountant in the financial affairs office. She served as assistant fiscal officer in the Dale Bumpers College of Agriculture, Food and Life Sciences and as director of accounting and information services in the Sam M. Walton College of Business prior to joining the College of Engineering.


“Colleen Briney brings a great deal of expertise to the associate vice chancellor position, in addition to her broad experience and understanding of this campus,” said O’Donnell. “The members of our search committee worked diligently to find the best person for this position. I’m delighted that person was so close to home.”

Briney said she’s humbled and excited to assume this new role.

“I am dedicated to using business analytics and innovation to streamline operations and to reduce the cost of doing business. I am also committed to upholding the UA's standards of integrity, transparency, and excellence,” she notes in the release.

Briney has a bachelor’s degree from the University of California at Los Angeles and a master’s degree from Walton College at the UA. She was licensed as a certified public accountant in Arkansas in 1983.

The Arkansas Department of Workforce Services will receive $6.362 million from the U.S. Department of Labor to support Arkansas’ efforts to improve reemployment services and to develop innovative job-training programs.

The state agency said in a statement issued Friday (June 19) that Arkansas is one of 27 states and a Cherokee tribal nation that will be awarded funds through the Sector
Partnership National Emergency Grant program.

Funds from this grant initiative will be used in Arkansas to provide dislocated workers and long-term unemployed individuals, including eligible underserved and minority populations, pre-employment skills training and occupation specific training that lead to viable employment opportunities within the high-growth industry sectors of advanced manufacturing, health care, information technology and the skilled construction trades.

“This is an incredible opportunity for our state,” ADWS Director Daryl Bassett said in the statement. “We plan to use these funds to serve at least 1,700 Arkansans with intensive reemployment services and connect 1,500 of those with training activities that are aligned with the workforce needs of Arkansas employers.”

This grant initiative will be administered in collaboration with employers, training providers and the local workforce system to facilitate effective and efficient service delivery. Partners in the effort will include the Arkansas Community Colleges (formerly Arkansas Association of Two-Year Colleges); 12 participating community colleges; Arkansas Apprenticeship Coalition; Winrock International; Arkansas Department of Human Services; White River Planning & Development District Inc.; Northwest Arkansas Economic Development District Inc.; Northeast Arkansas Workforce Development Board; West Central Arkansas Career Development Center System
Inc.; Central Arkansas Planning & Development District Inc.; and Southwest Arkansas Workforce Development Board.

The Walmart Foundation is giving $15.5 million in grants to seven national nonprofits to support free meal and nutrition education programs this summer and throughout the school year.

This effort will reach 7,700 communities across the country and help one million low income children and families gain access to critical meals and teach them how to cook and eat healthy together.

The nonprofits receiving funding from the Walmart Foundation include:
• National Council of Young Men’s Christian Associations - $5.3 million
• National Recreation and Park Association - $2.3 million
• Baylor University’s Texas Hunger Initiative - $2.2 million
• National 4-H Council - $2 million
• National League of Cities - $1.5 million
• FoodCorps - $1.2 million
• Common Threads - $1 million

The Foundation said these grants come at a time when millions of children who are out of school and without access to school meals. Many children who benefit from eating free and reduced priced school meals do not participate in summer meal programs which creates a gap in their nutritional wellbeing. Just one in six low income children who relied on school lunches during the year participated in a summer nutritional program in 2014, according to the Food Research and Action Center.

“While many children look forward to the summer months as a time to relax, it can be a difficult time for families who rely on meals at school,” said Karrie Denniston, director of hunger relief and nutrition at the Walmart Foundation. “As in years past, this summer we continue our work with longstanding nonprofit partners to help more kids access meals and learn to develop nutritious eating habits so they can live healthy lives.”

The grants from the Walmart Foundation will serve families through the following programs:

CASA of Northwest Arkansas is launching "Life Long Links" to help older foster youth find families. The program was funded by a $63,495 grant from the Walmart Foundation.

Teens targeted for this program are seasoned veterans of the system and will likely age out with little if any support system in place. Because of this, these young people are less likely to graduate from high school and more likely to end up incarcerated and/or homeless than their peers, the nonprofit notes in its release.

The Life Long Links program seeks to reconnect older youth with biological relatives to give a sense of family, identity, and belonging. Once made, these connections may result in something as simple as meaningful and consistent contact between the child and a caring adult or relative. Ideally, this program will result in identifying permanent, safe, and stable homes for these children outside of the foster care system.

“This grant will enable us to direct some much needed services into a largely underserved population,” said Ryan Brashears, the CASA supervisor for Life Long Links. “These kids have been through so much, many of them have spent years in the system housed in group homes, facilities, and foster homes if they’re lucky. There may be family members out there who are ready and willing to take them in but either don’t know that the child is in care or don’t know what to do about it. Every child deserves to know their family.”

Life Long Links will be supervised by CASA staff but carried out by trained volunteers from the community. This efficiency will allow more young people to receive these services. Thirty teenagers have already been identified as candidates for this program.

Steve Schotta is stepping down as executive director of the Northwest Arkansas Children’s Shelter and Greg Russell is stepping up from marketing director to fill the position effective July 1.

The hiring of Russell as the non-profit’s new leader was approved by the board or directors Thursday night (June 18). Russell technically will serve in an interim capacity until his appointment is officially approved by the Arkansas Department of Human Services’ Division of Children & Family Services.

Schotta, who has led the Children’s Shelter since July 2011, revealed to the board in September that he planned to retire this summer.

After a thorough search and screening more than 75 applicants with a dozen interviews, the board decided to promote Russell. Schotta has agreed to stay on in advisory capacity until September 1 to help with the leadership transition.

“Choosing the right person to lead the Children’s Shelter is one of the most important decisions we make as a Board,” said Board President Chris Lamson (CEO of Cheyenne Products). “Accordingly, we did our due diligence … and then some. As a result of our rigorous process, we feel very confident in choosing Greg as the next executive director of the Children’s Shelter.”

Lamson adds that Russell’s blend of high integrity, humility and innate curiosity make him a strong leader to take on the challenge leading the Children’s Shelter into the future.

“As director of marketing for the past four years, Greg has been very instrumental in substantially elevating the Children’s Shelter’s public profile ...  he has exhibited an exceptional level of commitment to and passion for the mission of providing the abused and neglected children we serve with a safe haven and hope for a better future. We also feel that his knowledge of and involvement in the progress made during Steve Schotta’s tenure will be a great asset,” Lamson said.

That said, the board of directors also expressed how much Schotta’s contributions will be missed in the coming years.

“We very much appreciate his willingness to aid us in ensuring that Greg will be positioned to succeed. We hate to see a leader as committed and effective as Steve go, but we wish him well and are glad we will continue to have the benefit of his counsel and support,” Lamson said.

Russell, who has a long history of working for non-profit organizations, joined the Children’s Shelter’s management team on Feb. 21, 2011. He has been professionally recognized for his work at the local, state, regional and national levels. He has spent nearly 20 years of his 29-year career working for and advancing the missions of non-profit organizations.

• Cargill teams up Pwc on sustainability efforts
Cargill is linking up with PricewaterhouseCoopers to improve their supply chains and align them with sustainability goals.

As a supplier to Wal-Mart Stores, sustainability is an important metric and one that is measured annually by the retailer.

Cargill’s newest partnership stems from its longtime work with PwC to help Cargill develop its own process of assessing environmental and social risks in its supply chain.

“It was a way to harmonize and standardize their approach to managing environmental/social risks in their supply chains, according to Cope Willis, director in PwC's Sustainable Business Solutions practice,

The typical engagement for the Responsible Supply Chain service involves two half-day working sessions involving a cross-functional team from the client company as well as from Cargill: marketing; finance; purchasing; sustainability and operations. Clients are asked to do up to two hours of preparatory work just prior to those half-day sessions, which take place on consecutive days.

The outcome are a set of quick “wins” to improve supply-chain efficiencies, lower costs, differentiate brands through increased transparency and spark innovation, said Steve Polski, senior director, sustainability at Cargill.

For example, Cargill noticed that one of its customers was spending a lot amount of money processing cancelled truck orders — that is, a high percentage of truck orders were being cancelled in transit without the customer’s knowledge, something Poliski said resulted from a lack of direct communication.

• General Mills removed artificial colors, flavors from cereal
Food giant General Mills plans to remove all flavors and colors perceived as artificial from its cereal line during the next two to three years. The company said it has been researching the effort for several months and that it will affect approximately 40% of its cereals.

“We’re simply listening to consumers and these ingredients are not what people are looking for in their cereal today,” said Jim Murphy, president of General Mills’ cereal division in a blog post on June 22.

The company said it is aiming to have the ingredients removed from 75% of its cereal line by January 2016 and 90% of the portfolio by the end of 2016.

General Mills defines an artificial flavor or color as an ingredient that is derived from something other than a plant, spice or another substance found in nature. For its cereals like Trix, the company said it will use fruit and vegetable juice and spice extracts for color. In the Reese’s Puffs line, the company will use flavors like natural vanilla. To color the Reese’s Puffs line, General Mills will use flavors like natural vanilla.

“With our consumers, it reached a tipping point in the last couple of years with the trend toward simpler food,” Murphy notes in the blog post.

This week Wal-Mart Stores confirmed it began sending out amended agreements with approximately 10,000 of its suppliers in hopes of better controlling costs.

Cutting costs is a major agenda for Wal-Mart Stores because reducing product costs with its suppliers helps to fuel the retailer’s everyday low cost production wheel which is the basis for its everyday low price strategy.

Wal-Mart said the goal of the new agreement is to bring more simplicity and consistency to its supplier relationships.

Wal-Mart CEO Doug McMillon told supplier at the retailer’s year beginning meeting in February that it would demand the lowest prices from its suppliers this year. He reiterated the point to analysts on June 5 saying that loyalty programs don’t work long term and the only strategy that Wal-Mart is using is “everyday low price” because that does build trust overtime with consumers.

The retailer told the Arkansas Democrat Gazette that supplier agreements typically are renewed year to year. The contracts outline payment terms, when and how merchandise is supplied, supply chain details such as warehousing, relevant chemical information and other conditions of sale.

The new amended contracts focus on five areas according to Deisha Barnett, Wal-Mart corporate spokeswoman.

She said the new terms will "more closely align us (Walmart) to those offered by major retailers and companies in related industries."

Deadlines and specifics of the contracts will vary from supplier to supplier, according to Barnett.

A bonus purchase of dark meat chicken recently announced by the U.S. Department of Agriculture is expected to lift the share prices of Tyson Foods Inc., and its poultry competitor Pilgrim’s Pride, according to Farha Aslam, food analyst with Stephens Inc.

In a recent note to investors, Aslam said poultry company stocks typically see a three-month rally after USDA bonus purchases are completed.

Recent export bans of U.S. poultry in the wake of the avian influenza outbreak and a stronger U.S. dollar have all hurt the purchasing power of key foreign markets for U.S. goods.

The bonus purchase program is designed to stabilize prices that have weakened since nearly all U.S. chicken exports are leg quarters, according to the USDA.

The recent bonus buy announcement from the USDA did not provide the size or timing of the planned purchase except to say that a solicitation for leg quarters will be issued in the next few weeks.

Heather Jones, food analyst with BB&T Capital Market, notes that the USDA bonus buy will remove about 100 million to 125 million pounds of dark meat chicken, which represents between 55% to 70% of the cold storage inventories at this time. She doesn’t think the purchase will drive leg quarter prices higher, but that it will have a more stabilizing effect on market prices.

Georgia Dock wholesale prices for leg quarter were 46 cents a pound on Monday (June 22) down nearly 21% from the 56-cent price one year ago.

Aslam said these bonus purchases usually occur in August or September and the last bonus buy totaled $42.2 million in 2008.

Aslam reiterated her overweight rating for Tyson Foods and her overweight/volatile rating for Pilgrim’s Pride stock.

Shares of Tyson Foods closed Monday (June 22) at $42.23, up 21 cents on the day. For the past 52 weeks the Tyson shares have traded between $35.69 and $43.80. Year-to-date Tyson Foods shares are up 7.83%.

Pilgrim’s Pride shares closed Monday at $25.67, up 10 cents. This stock, a pure chicken play is down 21% this year.

Bear State Financial Inc. announced Monday that it has agreed to purchase a Missouri bank in an all-stock deal that will add $442 million in assets to the fast-growing Little Rock bank’s portfolio.

Under terms of the agreement, Bear State will acquire 100% of the stock of Metropolitan National Bank, which is owned by Marshfield Investment Co. in Springfield, Mo. Marshfield shareholders will then receive proceeds of approximately $70 million, consisting of some $42 million in Bear State common stock and $28 million in cash.

The merger is expected to close during the fourth quarter of 2015, subject to customary regulatory approvals and other conditions, Bear State officials said. The Little Rock bank said it anticipates the deal to be immediately accretive to its earnings and bottom line.

Once the deal closes, Metropolitan National Bank’s CEO Mark McFatridge is expected to join the Bear State management team and board of directors. One other Metropolitan National Bank officer is also expected to join Bear State’s board.

In addition to the Metropolitan Bank acquisition, Bear State’s board of directors doubled its previously-approved stock buyback program, now permitting the repurchase of up to $2 million of its common stock in the open market.

The former First Federal Bancshares of Harrison, which is now headquartered in Little Rock, also said it issued a second quarter earnings guidance of between 8 cents and 10 cents for three month period ending June 30. Bank officials said the second quarter represents the first full quarter of operations following Bear State’s consolidation of First Federal Bank, First National Bank and Heritage Bank under one bank charter, while also integrating all of the bank’s operations to a single technology platform.

A year ago, Bear State completed its merger of First National Security Co. in Hot Springs and Heritage Bank headquartered in Jonesboro. The former Harrison-based financial institution, whose board of directors includes former Alltel Corp. officers Rick Massey and Scott Ford, has improved its balance sheet over the past year and said this summer that it “expects further public announcements regarding its management and key operations as the (bank’s) integration project nears completion.”

Last week, Bear State officials said the Little Rock bank will join the broad-market Russell 3000 Index on June 26, based on a preliminary list of additions posted June 12 on the Russell reconstitution website.

As of March 31, Metropolitan National Bank had approximately $442 million of total assets, $340 million of loans and $375 million of deposits. The combined enterprise would have approximately $2 billion in total assets, 41 branches throughout Arkansas, 2 branches in Southeast Oklahoma and 12 branches in Southwest Missouri for a total of 55 branches. The combined enterprise would also have three loan production offices in Arkansas and one in Missouri.

Retail giant Wal-Mart Stores Inc. is among a growing number of retailers that said they will remove Confederate flag merchandise from stores and its e-commerce sites in the wake of last week’s shooting rampage in South Carolina.

“We never want to offend anyone with the products that we offer,” Brian Nick, a spokesman for Wal-Mart said. “We have taken steps to remove all items promoting the Confederate flag from our assortment -- whether in our stores or on our website.”

CEO Doug McMillon said he too, was surprised to see some of the merchandise sold on Walmart.com by third party marketers.

“We don’t want to sell anything that offends people,” McMillon told Bloomberg on Monday (June 22). “Our thoughts and prayers go out to all of the victims and people of Charleston.”

Sears, Ebay and Amazon all followed suit saying they would no longer sell confederate flag merchandise.

“We have a process in place to help lead us to the right decisions when it comes to the merchandise we sell,” Wal-Mart’s Nick said in the statement. “Still, at times, items make their way into our assortment improperly -- this is one of those instances.”

There will be another party on the 2016 general election ballot, according to information from the Secretary of State’s office Tuesday. The Libertarian Party of Arkansas met the signature requirement for a new party in the state, Secretary of State spokesman Chris Powell said.

The party – which advocates limited government on economic and social issues – turned in their petitions June 2 to Secretary of State Mark Martin to be a part of the 2016 campaign.

Powell said the party turned in 15,619 signatures, with 11,918 valid. The number – which must be signed by registered voters in Arkansas – was more than the 10,000 required to become a new political party.

Before the Secretary of State can provide a certificate officially recognizing the Libertarian Party of Arkansas as a new political party, they must submit an affidavit, signed by the officers of the party, under oath, that complies with the provisions of Arkansas Code Annotated § 7-3-108(b).

Upon certification as a new political party, the Libertarian Party of Arkansas is free to field candidates in any upcoming partisan elections through the next general election in 2016. However, as a new political party, they must nominate candidates by convention for the general election, rather than by primary, Powell said.

During the 2014 elections, the party fielded candidates for every statewide federal and state office. Most of the candidates received between 2 and 6% of the vote.

One candidates – Grant Brand – received nearly 20% of the vote against incumbent Rep. Steve Womack, R-Rogers, in the Third District. The party’s candidate for governor – Frank Gilbert – as well as its candidate for U.S. Senate – Nathan LaFrance – both received about 2% of the vote.

The Walton Arts Center held a ground-breaking ceremony Tuesday (June 23) celebrating the $23 million expansion and renovation of the Fayetteville center.  The groundbreaking also kicks off the closing of Walton Arts Center beginning July 1. It will re-open in November for a full season of programs while construction continues until the scheduled completion in November of 2016.  

Walton Arts Center has raised over $20.5 million to date or 89% of the $23 million goal and encourages the public to join them and to help complete the fundraising goal.  
 
The Investing in our Future: The Expansion of Walton Arts Center capital campaign will add 30,000 square feet of space; including a new and expanded atrium that connects to Dickson Street, significant renovations and expansion of Starr Theater, expanded space for back of house technical and theatrical equipment and new administrative offices for staff. These enhancements will modernize the facility and create a destination for more arts, education programs, special events and community gatherings.
 
“This is a historic day in the life of Walton Arts Center. The expansion of Walton Arts Center will transform the relationship between Walton Arts Center patrons, artists and children while helping to dramatically impact Dickson Street and the entertainment district,” said Peter B. Lane, president and CEO of Walton Arts Center.
 
The nonprofit also announced the Helen R. Walton Distinguished Achievement Award was awarded to Pat Walker, an individual whose outstanding service, support and leadership has had a significant impact on bringing the communities of Northwest Arkansas together in support of the arts and the culture life of our community.

“Pat Walker shares the generosity and philanthropic vision of Helen Walton, pledging her time and talents to our community,” said Lane. “Mrs. Walkers’ personal involvement and legacy of philanthropy have impacted innumerable lives.”
 

Ellen Brune, who started a manufacturing company that makes pharmaceutical proteins using a method she helped develop at the University of Arkansas, is one of 18 women in the world who have been selected as finalists for the Cartier Women’s Initiative Awards.


The Cartier Women's Initiative is an international business plan competition that identifies, supports and encourage projects by women entrepreneurs. Brune, 28, is one of two women from the United States who will compete in France in October for a prize package that includes $20,000 and a year of coaching in business development and marketing.


Brune, who holds a doctorate in chemical engineering, founded Boston Mountain Biotech after helping develop a patented method to simplify the production of pharmaceutical proteins used in drugs that treat a variety of diseases and health conditions.

“I am very excited to be named a finalist for the Cartier Women’s Initiative Award and to showcase my business at the fantastic venue in France this fall,” Brune said.


Boston Mountain Biotech which operates as a Genesis Technology Incubator client at the Arkansas Research and Technology Park – holds the exclusive license to market the trademarked Lotus purification platform.


Brune created a series of custom strains of the bacteria Escherichia coli that produce minimized sets of contaminants or “nuisance” proteins, simplifying the purification process on the front end of protein pharmaceutical production.


“It can cost half a billion to $1 billion in 10 years for pharmaceutical manufacturers to deliver a protein therapeutic from a lab to the manufacturing stage,” Brune said. “Our company uses genetic engineering to make the purification process more efficient. We’re trying to help large pharmaceutical companies get their drugs to market cheaper and faster.”

In addition to receiving a total of more than $1 million in research grants through the National Science Foundation and Arkansas Biosciences Institute, Brune participated in the graduate entrepreneurship certificate program at the UA and participated on a team that built a business plan around her discovery. The team won $43,350 in prize money in graduate student business plan competitions.

Sam’s Club, the warehouse division of Wal-Mart Stores, announced a daily discount to its members in a program it calls “Shocking Values”. The daily deals on SamsClub.com provide up to 60% off of retail prices on selected brand items.

“Our members consider each visit to their neighborhood club and SamsClub.com a treasure hunt for unexpected savings, and Shocking Values is a new extension of that experience,” said Jamie Iannone, president and CEO of SamsClub.com. “These daily deals increase the value of a Sam’s Club membership and provide savings that members won’t find anywhere else.”

Members can find the daily deal via logging on to the retailer website, checking the mobile app or they can sign up for a daily email notification.

Sam’s Club said the featured items are hand-picked, well-known brands which are chosen based on members’ interests, top trends and popular selling items across a wide range of categories including electronics, apparel, home decor and outdoor/garden. These deals are for a limited time with limited quantities.

This new program fits with Sam’s Club’s efforts to provide more values to its members and comes on the heels of recently re-launched Club Pickup with convenient mobile check-in.

Wayne Farms, integrated poultry company with a large complex in Danville, withdrew its planned initial public offering that had hoped to raise $250 million. The Oakwood, Ga.,-based company cited unfavorable market conditions that prevented the company from getting the appropriate valuation.

Earlier this month, the company said it planned to offer 12.8 million shares at a price range of $18 to $21, according to filings with the Securities and Exchange Commission.    

“Although we are disappointed, the current overall market conditions are not favorable for the company to receive an appropriate valuation at this time. We are committed to executing our business plan and have the financial strength to make this plan a reality,” Wayne Farms Chief Financial Officer Courtney Fazekas notes in a media statement Friday (June 26). “Wayne Farms management continues to enjoy the strong support and access to the resources of Continental Grain (parent). We believe that our decision to withdraw the IPO will not impact our ability to meet our growth objectives."

With annual sales exceeding $1.9 billion, Wayne Farms owns and operates 11 fresh and further-processed facilities throughout the Southeast, produces more than 2.6 billion pounds of poultry products each year, and employs more than 8,900 individuals.

In Arkansas the company employs 823 at its deboning plant in Danville. There are another 122 contracted growers in Scott, Yell, Logan, Pope and Perry counties.

The company had planned to use the net proceeds of the IPO to repay existing debt, for working capital and general corporate purposes and to make a distribution to Continental Grain.

Karen O’Donohoe has been named director of the Occupational and Life Skills program at NorthWest Arkansas Community College.
 
The Occupational and Life Skills program (commonly referred to as OLS® at NWACC) is a new associate degree program. It gives adults with cognitive disabilities the opportunity to earn a 60 credit hour associate degree, achieve gainful employment and become self-sufficient, contributing citizens.  OLS at Bellevue College is the originator and the model for the program.

O’Donohoe previously worked in the college’s Disability Resource Center, first as a case manager and then as assistant director from August 2012 to May of this year. She assumed the role of director of the Occupational and Life Skills program on May 26. She also has experience as a contract technical writer for the University of Arkansas for Medical Sciences Department of Psychiatry and was a compensated work therapy intern for the Veterans Administration. 
 
O’Donohoe holds a bachelor’s degree from the University of Arkansas and expects to complete her doctorate there in 2016. She resides in Springdale.
 
The deadline for applications for the 2015-16 program is July 15. More information about the program is available at online.
 

Beef loving consumers continue to shell out more for hamburgers and steaks as retail fresh beef prices rise higher this summer, according to the latest U.S. Department of Agriculture data.

The latest USDA retail meat price data for May shows Choice beef prices at $6.41 per pound, up one cent from April and 8.4% higher than one year ago. The All-Fresh retail beef price was 2.2 cents higher than last month at $6.06 per pound, up 10.8% year over year. Moving downward retail pork prices were $3.70 in May, falling 7 cents from April and 9.8% lower than last year. The May broiler composite retail price was $1.93 down 6.6 cents from last month and flat against last year.

Derrell Peel, livestock marketing analysts with Oklahoma State University, notes that the higher retail beef prices and lower pork and broiler prices in May follow from decreased beef production and increased pork and broiler production. He said beef production for through May was 4.7% lower than one year ago while pork production for the same period was up 5.6%  and broiler production was up 3.9%.
 
Peel said there is some surprise at the apparent lack of substitution between beef and cheaper meats in term of retail prices. He said in May retail price ratios pushed to higher record levels for beef relative to pork and broilers. That month retail beef prices were 3.14 times retail broiler prices, a new record beef-broiler retail price ratio and the sixth consecutive month with a ratio at 3 or higher. The beef to pork retail price ratio advanced to 1.64 in May, a new record level and the sixth consecutive month with a ratio of 1.5 or higher. 

He said pork supplies are expected to be high the remainder of this year, which will keep prices down for consumers. The same is true in chicken as production is supposed to be up 5% this year over last. Beef production is expected to down 2% this year compared to 2014.

In the meantime, Peel said beef price increases are likely.

The private label business has been challenging for ConAgra Foods since it acquired Ralcorp Holdings in January 2013. The $6.8 billion deal has yielded disappointing results for the packaged food giant who said it will now divest the private brand business as it seeks to turnaround profits.

“As I have intensely studied the situation in our Private Brands operations over the last few months, it has become clear that the time and energy the company is devoting to the Private Brands turnaround represent a suboptimal use of our resources,” said Sean Connolly, CEO. “To prevent further distraction, we are pursuing the divestiture of our Private Brands operations. Because the outcome of our strategic review for the Private Brands operations will influence our long-term financial outlook, we will wait until this process is complete before sharing long-term financial commitments. We expect to offer operating details of our plans as well as long-term financial expectations at an investor event later this year.”



The announcement was made when ConAgra published its financial results for fiscal year 2015, ended May 31 on Tuesday (June 30).

For the year, the company recorded a loss of $252.6 million, which compared with net income of $303.1 million, equal to 72 cents per share on the common stock,

in fiscal 2014.

The Private Brands divestment is part of a new strategic direction that will focus on growing ConAgra’s Consumer Foods and Commercial Foods business units, Connolly said. 

“We expect to continually refine our portfolio with prudent divestitures and acquisitions, and there will be a strong emphasis on deploying capital in ways that benefit shareholders.

”

Sales for the year remained flat at $15.8 billion, which compared with sales of $15.84 billion for fiscal 2014.