Mexicans to accept some state poultry
The top buyer of U.S. poultry will allow in some products from Arkansas, the U.S. Department of Agriculture said Tuesday.
Mexico is now allowing raw chicken and turkey meat as long as it is further processed or heat-treated within its borders.
The new rule also applies to California, Minnesota, Missouri and Kansas. Mexico, along with dozens of other countries, is restricting poultry trade from those states because of avian flu.
The Arkansas infection occurred in a Boone County turkey farm with more than 40,000 turkeys, the USDA said on March 11. No other infections have been detected since then.
The pathogenic strain kills more than 90 percent of commercial birds it infects.
-- Brian Fanney
P.A.M. CEO's pay $1.9 million in '14
Daniel Cushman, the chief executive officer of P.A.M. Transportation Services Inc., earned $1.9 million in total compensation in 2014.
The total was a $1.2 million increase from Cushman's $720,034 in compensation in 2013.
Cushman's base salary grew from $447,000 to $461,173. He also received a $224,500 discretionary cash bonus, $470,028 in non-equity incentive plan pay and $13,018 in other compensation. The grant-date fair value of Cushman's stock and option awards was $213,250, while the value on 32,800 shares acquired on exercise was $560,946.
Allen West, P.A.M.'s chief financial officer, earned $530,695 in total compensation. West -- who completed his first full year as an executive with the company in 2014 -- earned a base salary of $228,874 and $301,821 more in bonuses and stock awards.
The Tontitown-based company reported $410.9 million in revenue and $13.5 million in net income in 2014. It was an increase from $402.8 million in revenue and $5.9 million in net income in 2013.
P.A.M. will hold its annual shareholders meeting at 11 a.m. April 28.
-- Robbie Neiswanger
State index dips 1.18 as 11 stocks decline
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, dropped 1.18 to 401.98 Tuesday.
Eleven stocks declined and six advanced.
Two trucking firms had the best performances.
Shares of P.A.M. Transportation rose 1.7 percent in light trading.
USA Truck gained 1.6 percent on half its average volume.
Tyson Foods lost 2.8 percent in heavy trading.
Murphy Oil fell 2.3 percent in average volume.
Total volume of the index was 24.1 million shares.
The index was developed by Bloomberg News and the Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.
Business on 03/25/2015