LITTLE ROCK — Springdale center
files for Chapter 11
The company that owns the Springdale Civic Center has filed for Chapter 11 bankruptcy reorganization as a local bank seeks to foreclose on the property.
Edward Vega and his wife, Leticia Vega, are the principal owners of Springdale Civic Center LLC, the company that filed for the Chapter 11 action in federal bankruptcy court.
Chapter 11 allows a business to keep operating and restructure the debt during the bankruptcy period.
Vega said Friday that the bankruptcy would give the company some breathing room while it works out its debts.
First State Bank of Northwest Arkansas filed a $2 million foreclosure complaint in Washington County Circuit Court against Vega and the civic center company on Sept.
3.
Fayetteville attorney Stanley Bond filed the bankruptcy petition for Springdale Civic Center LLC.
Entergy reactor put online once refueled
Entergy Corp. started Unit 2 at the Arkansas Nuclear One plant Friday after a planned shutdown for refueling and is operating at 1 percent of capacity, according to a report from the U.S. Nuclear Regulatory Commission.
"A structured series of activities will lead Unit 2 back to full-power operations and they are expected to return to full power by Monday," Danny Blanton, an Entergy spokesman, said in a Friday e-mail.
The 998-megawatt reactor was shut down Sept. 1, according to the company.
The Arkansas Nuclear One plant has two reactors near Russellville. Unit 1, which can supply 836 megawatts, is operating at full capacity, according to the commission.
Arkansas Index dips
as 11 stocks slide
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, dropped 1.42 to 158.66 Friday.
Eleven stocks declined, six advanced and one was unchanged.
Two trucking companies finished on both sides of the spectrum. P.A.M.
Transportation Services rose 3.5 percent in light trading, and Arkansas Best lost 3.5 percent in belowaverage trading.
For the week, all but three stocks lost ground.
Baldor Electric and First Federal Bancshares each fell more than 9 percent for the week.
Windstream had the best performance over the past five days, rising 1.5 percent.
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 33 on 09/26/2009