NEWS IN BRIEF

By The Arkansas Democrat-Gazette

Posted: July 28, 2009 at 5:14 a.m.

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LITTLE ROCK — Truckers doubt index

as a recession gauge

The American Trucking Associations reported a 13.6 percent year-over-year decrease in its seasonally adjusted tonnage index for June and said it appeared that its index cannot be an accurate indicator of when the recession is over.

The Alexandria, Va.-based group said in a news release that the contraction represented the largest yearover-year decrease since the freight recession began in December 2007. Tonnage fell 2.4 percent comparing May with June.

The associations said the national for-hire truck tonnage index was 99.8 in June.

The trade group has set 100 as the base volume and 2000 as the base year. The index measures the weight of freight hauled by trucks.

The bellwether trucking industry moves about 70 percent of the nation's freight.

Inventories relative to sales are still too high in much of the supply chain, wrote associations Chief Economist Bob Costello, in a news release.

"As a result, this is likely to be the first time in memory that truck tonnage doesn't lead the macro-economy out of a recession," he wrote.

Arvest picks handlers

for Village on Creeks

Sage Partners and Management Realty, both based in Fayetteville, has been hired to handle the leasing, marketing and management of Village on the Creeks.

Arvest Bank Group, which acquired the 60-acre development in Rogers by settlement with the previous owner, hired the two companies based on their expertise in property management within the Northwest Arkansas commercial real estate market, said Rob Brothers, president of Arvest Bank, Rogers, in a bank news release Monday.

Rogers developer Carmen Lehman filed for Chapter 11 bankruptcy protection for Village on the Creeks in February claiming $3.67 million in assets and more than $33.92 million in liabilities.

Lehman filed the voluntary petition Feb. 16 in U.S.

Bankruptcy Court in Fayetteville through her attorney, Jill Jacoway of Fayetteville, on behalf of C.R. Lehman Properties Limited Partnership.

Arkansas Index lifted

as 12 stocks advance

The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, was up 0.92 to 152.10 Monday.

"Stocks finished mixed, as investors paused after a strong two-week rally on better-than-expected corporate earnings," said Chris Harkins, senior vice president and managing director of Delta Trust Investments Inc. in Little Rock. "The Arkansas Index moved higher with 12 stocks rallying, five slipping lower and one unchanged."

Dillard's jumped more than 5 percent, Harkins said.

Volume on the index Friday was 26.6 million shares, compared with average volume of 35.9 million shares.

The index was developed by Bloomberg News and the Arkansas Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.

Business, Pages 19 on 07/28/2009

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