Scoggins appointed agency's new leader
Bryan Scoggins on Thursday was named president of the Arkansas Development Finance Authority.
Scoggins, 60, has been business finance director at the Arkansas Economic Development Commission since 2001.
He will immediately assume his new role, which was announced by the agency's board of directors at its monthly meeting, the Arkansas Department of Commerce said in a news release.
Both agencies are under the newly created Commerce Department.
Scoggins replaces Cheryl Schluterman, who had led the agency since October. She recently accepted a position at Raymond James, said Alisha Curtis, the Commerce Department communications director.
Scoggins' compensation is under review, Curtis said in an email.
He drew an annual salary of $113,509 in his previous job, according to the state's transparency website. Schluterman's salary was $137,094.
Scoggins' previous experience included work at the authority performing credit analysis on potential revenue bond transactions.
"Having served at [the finance authority] previously in his career and along with extensive finance experience at [the Arkansas Economic Development Commission], Bryan is uniquely capable and is already an integral part of the state's business finance efforts," Gov. Asa Hutchinson said in the release.
-- Noel Oman
Welding spark cited in Tyson plant fire
A welding spark likely started the fire at a Tyson Foods beef-processing plant in Holcomb, Kan., a week ago, a Kansas TV station recently reported.
A fire that burned over 12 hours, from Friday to Saturday, resulted in the factory's indefinite closure. No employees were injured.
Tyson's Fresh Meats President Steve Stouffer told reporters a welding spark during maintenance likely caused the fire.
Tyson has said it plans to rebuild the damaged part of the factory and pay its full-time workers while the plant is idle.
The Springdale company has six plants in Kansas, employing more than 5,600 workers. About 3,800 of them work at the damaged plant, which handles 15%-25% of Tyson's total beef processing capacity, according to a Stephens Inc. research brief.
-- Nathan Owens
State index rebounds 2 points to 407.53
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, closed at 407.53 Thursday, up 2 points.
"Equities remain volatile with the S&P 500 index trading in a range greater than 1% between the high and low for the 12th straight day as the consumer staples and real estate sectors outperformed," said Leon Lants, managing director at Stephens Inc. in Little Rock.
The index was developed by Bloomberg News and the Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.
Business on 08/16/2019