NEWS IN BRIEF

Thursday, December 20, 2012

— Investment funds’ licensing urged

The U.S. Small Business Administration is asking experienced managers of early-stage investment funds to apply to have their funds licensed as Early Stage Innovation Funds.

The program is part of the SBA’s Small Business Investment Company capital investment program.

The Early Stage Innovation Fund provides money to funds that are focused on early stage investments.

The deadline for filing the management application questionnaires for the Early Stage Innovation Fund program is March 1.

Application details are in the call notice published in the Federal Register: https://www.federalregister.gov/a/2012-30431.

Last year, in its first year, the program attracted 33 applications and approved six qualified funds to continue through the licensing process after raising their private capital.

More information on the Early Stage Innovation Fund initiative and the regulations governing them may be found at www.sba.gov/inv/earlystage.

Glaser, 62, as COO

USA Truck of Van Buren has hired consultant and longtime trucking executive Thomas Glaser as interim chief operating officer, effective Jan. 1.

The appointment has an initial term of three months, according to a company filing Wednesday with the U.S. Securities and Exchange Commission.

Glaser, 62, has been president and chief executive officer of Arnold Transportation Services Inc. of Jacksonville, Fla., and was previously president and chief operating officer as well as holding other positions at Celadon Group Inc. of Indianapolis, according to the filing.

USA Truck closed at $3.45 on Wednesday, down one cent. In the past year, the trucking firm’s stock has traded between $2.65 and $9.46.

State Index falls;

11 stocks drop

The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, fell 0.96 to 247.57 Wednesday.

“U.S. stocks ended lower on Wednesday as momentum surrounding a fiscal cliff deal seemed to come to a stall,” said John Blackwell, senior vice president and managing director of equity trading at Stephens Inc. in Little Rock. “The Arkansas Index moved lower as 11 stocks declined, four advanced and one remained unchanged.”

Murphy Oil lost 1.7 percent in heavy trading.

First Federal Bancshares dropped 1.5 percent in light trading.

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 12/20/2012