AG: Firm to forgive
school loans for 800
Arkansas' attorney general on Tuesday said Education Management Corp., the nation's second-largest for-profit college chain, will forgive more than $703,000 in student loans to about 800 former students in Arkansas.
"Education Management Corp. used unfair and deceptive enrollment practices in providing loans to Arkansas students," Attorney General Leslie Rutledge said in a statement. "These loans, backed by Arkansas taxpayers, were destined to fail."
On Monday, Pittsburgh-based Education Management said it had reached an agreement with 39 state attorneys general and the District of Columbia to end investigations into the company's recruiting practices. It did not admit to any wrongdoing.
The company is forgiving $102.8 million in loan debt by more than 80,000 students, according to the release from the attorney general's office.
Education Management also agreed to pay $94.5 million in a separate deal with the Department of Justice. The college operates 110 locations in 32 states and Canada.
-- John Magsam
Tyson recalls batch of Any'tizers wings
Tyson Foods recalled about 52,000 pounds of chicken wings Tuesday after customers reported a mild illness related to consumption and also that the chicken had a strong odor, according to the U.S. Department of Agriculture's Food Safety and Inspection Service.
The chicken wings were produced at the company's Pine Bluff facility, according to a company statement.
The Any'tizers Fully Cooked Buffalo Style Chicken Wings were produced in October. The 28-ounce bags had a "Best if Used By" date of Oct. 24, 2016, or Oct. 25, 2016.
Customers who have purchased the product should throw it out or return it to the place of purchase. The USDA said in a statement that there have been no confirmed reports of illness.
-- Claire Williams
Index advances 1.44 as Wal-Mart gains
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, gained 1.44 to 327.61 Tuesday.
"The major averages were mixed as lackluster earnings releases and inflation data failed to bring buyers in from the sidelines," said Bob Williams, senior vice president and managing director of Simmons First Investment Group Inc. in Little Rock.
Wal-Mart gained over 3.5 percent on heavy volume. P.A.M. Transportation fell 4.2 percent in active trading, Williams said.
Index volume was 39.1 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 11/18/2015