CHICAGO — Chicago City Council
OKs third Wal-Mart
The Chicago City Council has approved a third Wal-Mart store in the city.
Council members voted 41-4 Wednesday to allow the giant retailer to build the store on Chicago’s South Side.
The first Chicago Wal-Mart store opened in 2006. Labor unions and small-business owners claimed the store paid unfair wages and would kill off local businesses.
The City Council last month approved a second store, opening in 2012.
Last week, Mayor Richard Daley asked aldermen to support a third store, saying it would bring jobs and stimulate the economy.
The Bentonville-based retailer agreed to pay wages higher than the Illinois minimum.
In voting against the third store, Alderman Joe Moore said the retailer “has a history of not living up to its promises.”
Technology agency renews grant program
The Arkansas Science & Technology Authority said Thursday that it has renewed its Technology Transfer Assistance Grant program.
The program makes $356,975 available in grant funding through June 30, 2011, to Arkansas-based businesses needing to improve their technology infrastructure.
Businesses may apply for the grants to help cover costs associated with the transfer of technology from an approved provider to an Arkansas company. The maximum for a single grant is $3,750.
To apply for the program, go to www.asta.
arkansas.gov/ttagp.html. For more information, contact a grant coordinator at (501) 683-4409.
Arkansas Index gains as 8 stocks rise, 9 fall
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, gained 0.37 to 178.66 Thursday.
“U.S. stocks retreated on Thursday but closed well off their session lows as a better-than expected jobless claim numbers failed to spark a rally ahead of today’s [gross domestic product] report,” said John Blackwell, senior vice president and managing director of equity trading at Stephens Inc. in Little Rock. “The Arkansas Index ended slightly higher as eight stocks advanced while nine declined.”
Baldor Electric rose 1.8 percent in average trading.
P.A.M. Transportation Services dropped 2.4 percent on below-average volume.
Volume was 26.2 million shares, compared with average volume of 26.6 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 25 on 07/30/2010