Entergy, steel mill get initial rate OK
The Arkansas Public Service Commission on Thursday tentatively approved an agreement on electric rates between Entergy Arkansas Inc. and a steel mill to be built near Osceola.
The commission determined that the deal to supply power to the $1.1 billion Big River Steel mill, which will employ 525 workers making an average of $75,000 a year, including bonuses, is in the public’s interest.
But it also said its approval is subject to the development of a cost revenue matching proposal that would prevent any cost from the arrangement from affecting Entergy’s 700,000 other customers.
The commission ordered Entergy Arkansas and the commission’s general staff to develop the proposal and submit it to the commission “well in advance of the initiation of operations” at the Big River Steel plant.
- David Smith
Tyson creates panel on animal well-being
Tyson Foods Inc. of Springdale said Thursday it has formed an independent farm animal well-being advisory panel as part of its commitment to the proper treatment of farm animals.
Members of the panel will serve as advisers for Tyson’s FarmCheck program aimed at ensuring responsible care and well being of animals.
Members include Ryan Best, past president of Future Farmers of America;
Ed Cooney, executive director of the Congressional Hunger Center; Gail Golab, director of the American Veterinary Medical Association’s Animal Welfare Division; Temple Grandin, professor of animal science at Colorado State University; Ashley Peterson, vice president of scientific and regulatory affairs for the National Chicken Council;
and Richard Raymond, former U.S. Department of Agriculture undersecretary for food safety.
- Steve Painter
State index hits high before slipping 0.30
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, dropped 0.30 to 285.08 Thursday.
Over the course of the day’s trading, the index hit 286.96, establishing its fourth all-time high of the week before retreating.
“U.S. stocks fell in afternoon trading after the San Francisco Fed president hinted at [quantitative easing] tapering as early as this summer,” said John Blackwell, senior vice president and managing director of equity trading at Stephens Inc. in Little Rock.
Dillard’s Inc. climbed 2.2 percent after it reported on Wednesday better-thanexpected earnings in the first quarter.
Volume for the index was 27 million shares, compared with average daily volume of 25 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 27 on 05/17/2013