NEWS IN BRIEF

Wal-Mart releases

bribe-probe cost

Wal-Mart Stores Inc.

disclosed in a regulatory filing this week that ongoing investigations into bribery allegations related to its growth in Mexico and other foreign markets cost the world’s largest retailer $157 million in its fiscal year that ended Jan. 31.

Such bribes, which reportedly were made to various local officials to obtain building permits, would be a violation of the federal Foreign Corrupt Practices Act. The company said in the filing that it expects future costs from its own and other investigations, but provided no estimate for those costs, which will include responding to requests for information or subpoenasseeking documents, testimony and other information.

Wal-Mart said in an earlier filing that similar investigations are under way in Brazil, China and India.

  • Steve PainterWindstream CEO paid $11.8 million

Jeff Gardner, Windstream Corp.’s chief executive officer, earned about $11.8 million last year, based on a federal filing Tuesday by the Little Rock firm.

Gardner earned almost $1 million in salary, $5.2 million in stock awards, $1.2 million in incentive plan compensation, $4.3 million in stock options exercised and $117,000 in other compensation.

Other top executives at Windstream and their total income last year include:

Brent Whittington, chief operating officer, about $3.7 million; John Fletcher, general counsel, about $2.7 million; Anthony Thomas, chief financialofficer, about $2.5 million; and Cynthia Nash, chief information officer, about $1.5 million.

Windstream’s annual meeting will be at 11 a.m.

on May 8 at the Capital Hotel in Little Rock.

  • David SmithState index slips amid euro unrest

The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, fell 0.13 to 272.59 Wednesday.

“U.S. stocks ended mixed in a choppy trading session as concerns surrounding the eurozone began to resurface,” said John Blackwell, senior vice president and managing director of equity trading at Stephens Inc. in Little Rock. “The Arkansas Index moved lower as eight stocks advanced, seven declined and one remained unchanged.”

Arkansas Best rose 1.6 percent in light trading.

USA Truck dropped 2.2 percent on low volume.

Windstream lost 1.8 percent on double its average volume, closing at $7.99, its first close below $8 a share since Dec. 11.

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 03/28/2013

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