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    Arkansas Business headlines Jan. 8

    7:10 AM, Jan 8, 2013   |    comments
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    LITTLE ROCK, Ark. (Arkansas Business) -- Wall Street cools down after last week's rally and what could be an active few days this week.

    Analysts pointed out that investors were in a mood to sell after last week and were slow to buy before this week's cavalcade of earnings reports begins.

    One stock up was Walgreens, gaining 85 cents to $38.03. The pharmacy chain saw its rating lifted from "hold" to "buy", a reaction to its potential for profit this flu season as well as overhauls in Medicare and the national health care system.

    Ten major banks reached an agreement with the government to pay $8.5 billion in settlements to homeowners who were wrongly foreclosed upon.

    Bank of America, one of those banks, will also pay $11.6 billion to mortgage financier Fannie Mae to settle claims on sour mortgages.

    The agreements not only resolve two of the most expensive lawsuits related to the housing crisis, but also eliminates the potential for more liabilities.

    With the settlement, affected homeowners could receive anywhere from one-thousand dollars to $125,000.

    Metroplan, a group that keeps tab on economic development and the future of Central Arkansas, says in a report on what's trending that the local economy is still making progress, albeit very slowly.

    The report takes a look at per capita income trends, opportunities for the area in energy and the year in manufacturing, construction and housing. There's even a snapshot of growth in Little Rock's South Main neighborhood, or SoMa.

    Metroplan points out the River Trail system throughout Little Rock and North Little Rock as an economic incubator that's affecting residential and business real estate in a positive manner.

    And Arkansas football has been described as the closest thing to professional sports that the state of Arkansas has. The Wall Street Journal says in a study that if the Razorbacks were a professional franchise, they would be ranked at No. 14 in the nation with a monetary worth of $332 million.

    In the SEC, that put Arkansas at No. 6. The University of Texas was said to be the most valuable school as a franchise, with a worth of $761.7 million.

    (Source: Arkansas Business)

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