News in brief

Friday, August 8, 2014

Bale Honda sold; it'll

be Landers-McLarty

Mark McLarty said in a Thursday news release that he has acquired Bale Honda in Little Rock from Johnny Bale and John Sahene.

The dealership will be called Landers-McLarty Honda. Steve Landers Jr. will oversee day-to-day operations. The Landers family has operated dealerships in the state since 1971.

Bale Honda is the first Arkansas acquisition by McLarty, a Little Rock native, since he led the merger of North Point Automotive, a Little Rock-based dealer group, with Asbury Automotive Group in 1999.

McLarty has founded and built automotive businesses in Brazil, China, and Mexico. He has lived in those countries for the past 15 years, according to the release.

McLarty is a son of Thomas F. "Mack" McLarty, former chief of staff to President Bill Clinton, and president of McLarty Associates, a Washington, D.C.-based consulting company, as well as chief executive of the McLarty Cos.

The acquisition has been approved by American Honda Motor Co. Inc. The terms were not disclosed.

-- Jack Weatherly

Wal-Mart app ranks

high on iTunes site

Wal-Mart's iTunes application, used to help launch the retailer's Savings Catcher price comparison program this week, was ranked the second-best app overall and the No. 1 app in the lifestyles category as of late Thursday. The rankings can be followed on any iTunes store account.

The iTunes website calls the rankings "Best New Apps," but it could not be determined Thursday whether Savings Catcher gained a spot on the list on the basis of the number of downloads, customer reviews or some other measure.

Savings Catcher allows customers to comparison shop with Wal-Mart by scanning their Wal-Mart receipts and offers them store credit in the form of a Wal-Mart eGift card if they find eligible items at a better price at another retailer.

Wal-Mart spokesman Molly Blakeman credited the pilot programs in big cities -- Minneapolis, San Diego and Dallas, among others -- for raising awareness of Savings Catcher.

-- Cyd King

Arkansas Index falls

1.43, ends at 346.68

The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, fell 1.43 to 346.68 Thursday.

"U.S. stocks fell on Thursday as concerns that the Ukraine conflict may be escalating and as Russian President Putin moved to ban food imports from countries that seek to punish Russia," said John Blackwell, senior vice president and managing director of equity trading at Stephens Inc. in Little Rock.

Tyson Foods dropped 2 percent after Russia banned U.S. poultry imports.

Bear State Financial was up 2.8 percent on light volume.

Total volume of the index was 27.7 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 on 08/08/2014