ArcBest CEO's pay rises in '17 to $2.1M
ArcBest Corp. Chief Executive Officer Judy McReynolds earned $2.1 million in total compensation in 2017, according to a proxy statement filed with the U.S. Securities and Exchange Commission.
McReynolds' pay was an increase from $1.6 million the previous year. She received a base salary of $660,000, $918,000 from nonequity incentive plan compensation, $480,500 in stock awards and $37,000 in additional compensation.
Her total compensation was 22 times the median pay for the rest of the company's employees ($95,518) in 2017. The disclosure was required under the Dodd-Frank financial law.
Timothy Thorne, president of ABF Freight, earned about $1 million in total compensation in 2017, while Chief Financial Officer David Cobb and Chief Operating Officer Jim Ingram earned about $900,000. Michael Newcity, the company's chief information officer, earned about $860,000.
ArcBest will hold its annual shareholders meeting May 1 in Fort Smith.
-- Robbie Neiswanger
High Arkansas River slows LR port's work
High water and swift flows on the Arkansas River from heavy rain caused the Port of Little Rock to move 18,000 fewer tons in the first two months of 2018 compared with the same period a year ago, port officials said.
The port handled 81,000 tons of cargo in January and February. It handled about 99,000 tons in the same two months of 2017.
In February, the port worked 26 barges and more than 40,000 tons of cargo. Logistics Services Inc., the private company that handles barge activity for the city-owned port, lost a week because of the rain, said company Vice President Jack Long.
Barges moved 1.7 million tons on the McClellan-Kerr Arkansas River Navigation System in January and February, a 17 percent decrease from the same period in 2017.
-- Noel Oman
State's stocks dive 8.55, end at 408.78
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, tumbled 8.55 to 408.78 Thursday.
"U.S. stocks reacted poorly to the announcement of tariffs against China with the S&P 500 Index breaking below the 50-day moving average and closing down 2.52 percent in anticipation of a Chinese response," said Leon Lants, managing director at Stephens Inc. in Little Rock. "The financial and industrial sectors underperformed."
Total volume for the index was 26.5 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 03/23/2018