Arkansas Business headlines for Jan. 17

    8:32 AM, Jan 17, 2013   |    comments
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    LITTLE ROCK, Ark. (Arkansas Business) -- Setbacks at Boeing keep one index of the stock market grounded.

    The Dow didn't quite nose-dive, but did lose 24 points to close at 13-5-11 after two Boeing 787s were grounded in Japan. The mammoth Dreamliner passenger plane has been plagued with problems recently including a battery fire and engine leaks.

    Other indexes inched upward. The Nasdaq climbed up seven after a three-day slide to 31-18. The S&P mostly unchanged, rising three-tenths of a point.

    The Federal Reserve released its "beige book" on the nation's economic activity of the past couple of months.

    The report says the economy grew, boosted by Christmas shoppers, strong sales in the auto industry and a housing market still bouncing back.

    For the Eighth District, which includes Arkansas, the Fed says the economy enjoyed modest growth with service firms growing while manufacturing shrank.

    The Office of the Comptroller of the Currency has ended the April 2010 cease and desist it held against First Federal Bank of Harrison, the bank's holding company announced Wednesday.

    W. Dabbs Cavin, CEO of the holding company and bank, called the end of the cease and desist order "a significant milestone and a major step forward for First Federal."

    The bank says new management has been able to build on "its stronger capital position" and improve its condition. The once-struggling company lost about $4 million in 2010, which followed a loss of $46 million in 2009.

    Wagner Medical Clinic says it will build a 17,000-SF ambulatory care clinic in northeast Arkansas that will cost more than $2 million.

    Dr. Tommy Wagner is building the medical building in Manila, located in Mississippi County, for his family practice clinic and will lease space to St. Bernards Healthcare of Jonesboro, which will offer imaging, laboratory services and physical therapy. Specialty clinic services will also be provided.

    The one-story clinic will sit on 16 acres on the west side of Manila and is projected to open in the fall. The clinic will have 16 exam rooms and two procedure rooms.

    (Source: Arkansas Business)

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