Stock nets trucker's ex-CEO $7.67 million
Wayne Garrison, a member of the J.B. Hunt Transport Services Inc. board of directors and a former company executive, sold $7.67 million worth of stock, according to a filing with the Securities and Exchange Commission.
After the sale, a single transaction involving 100,000 shares valued at $76.70 each, Garrison still owns 2.75 million shares. Garrison sold more than $6.8 million worth of stock in April.
Garrison has served on the board since 1981 and is a former chief executive officer of the Lowell-based transportation company. He joined J.B. Hunt as a plant manager in 1976 and has served in roles including vice president of finance, executive vice president of finance, president and CEO. Garrison was vice chairman of the board from 1986 until 1991.
Shares of J.B. Hunt stock traded at $76.05 on Tuesday, down 69 cents.
-- Chris Bahn
U.S. port traffic tops September average
Merchandise shipped well in advance of the Christmas shopping season is arriving at above-average levels but not topping August's record-setting month, the National Retail Federation said Tuesday, citing the monthly Global Port Tracker report by Hackett Associates.
Traffic remains on an upswing even without a West Coast longshoremen's contract.
"The negotiations have made progress and retailers have been stocking up, but there's still cargo that needs to arrive before the holiday season kicks off," Jonathan Gold, NRF vice president for supply chain and customs policy, said in a release.
Volume of imports at U.S. ports covered by the Global Port Tracker report is estimated to total 1.47 million containers in September, down from the all-time monthly record of 1.53 million set last month. September has averaged 1.42 million containers over the past five years.
-- Cyd King
Arkansas Index dips 2.47 on Fed worries
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, fell 2.47 to 352.40 Tuesday.
"The major averages finished firmly in negative territory amid speculation the Fed may raise rates sooner than expected," said Bob Williams, senior vice president and managing director of Delta Trust Investments Inc. in Little Rock.
ArcBest, P.A.M. Transportation and USA Truck all fell between 2 percent and 3 percent, Williams said.
Dillard's was the strongest component stock, gaining 0.6 percent in light trading, Williams said.
Total volume of the index was 17.1 million shares. The average daily volume for the week was 16.9 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 09/10/2014