Arkansas Business: High streak over, stocks end lower

    8:17 AM, Nov 13, 2013   |    comments
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    LITTLE ROCK, Ark. (KTHV) -- Stocks ended lower on Tuesday amid disappointing earnings.

    UA basketball facility construction announced 

    More building projects have been announced at the University of Arkansas.

    The UA announced that it will begin construction of a $25 million basketball practice facility next month.

    The groundbreaking ceremony for the 65,000-SF facility will be held on Dec. 7 -- it's scheduled to open in the summer of 2015.

    It will hold the workout facilities, offices and all other basketball operations for both the Razorbacks men's and women's teams.

    Gubernatorial race focusing on tax cuts

    It looks as if the Arkansas governor's race will be a competition over tax cuts.

    Republican Asa Hutchinson yesterday holding a news conference in Little Rock to announce his plan to cut taxes for Arkansans earning between $20,400 and $75,000.

    Hutchinson says the tax cuts would cost about $100 million, although some say the number could be more like $150 million.

    Hutchinson also says the cuts can be paid for with existing growth and surplus funds.

    The campaign for Democrat Mike Ross, who's also running for governor, responded by saying that Ross has said he would implement income tax cuts that target working families.

    Ross has also talks about cutting taxes for manufacturers in Arkansas.

    Wal-mart extends Black Friday hours

    The erosion of the Thanksgiving Day holiday continues, as Wal-Mart Stores Inc. joins other retailers in opening even earlier for holiday shopping.

    The world's largest retailer said Tuesday that it will begin offering holiday deals at 6 p.m. on Thanksgiving - that's two hours earlier than last year.

    Wal-Mart will also stagger holiday deals throughout the night and into "Black Friday," the day after Thanksgiving that's traditionally the busiest shopping day of the year.

    The company is also increasing its stock of TVs by 65 percent and double the number of tablet computers for sale that weekend.

    Wal-Mart yesterday also previewed its Black Friday shopping ad on its website.

    All this, as Wal-Mart responds to what's expected to be a fiercely competitive holiday shopping season.

    This year, stores including Macy's, J.C. Penney and Kohl's all opening for the first time on Thanksgiving evening.

    Meanwhile, one marketing professor at Wake Forest University School of Business in North Carolina telling the Associated Press that he thinks in five years, most retail chains will be open all day on Thanksgiving.

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