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Arkansas Business June 10, 2013 3 THE STATE’S BUSINESS NEWS AUTHORITY. Don’t Fear the Jury System “To pay far more than a case is worth just to avoid a jury trial is a mistake,” Arkansas incoming Arkansas Bar Association President Jim Simpson says. [P15] Performance Management The precise steps of performance management are dreaded and rarely Business performed well, but they are key, says UALR’s Karen M. Leonard. [P23] UPDATED DAILY: ArkansasBusiness.com VOL. 30, NO.23 JUNE 10-16, 2013 $1.50 SPOTLIGHT: Law Feds: Investigate Yourself Wal-Mart has spent bribery scandal. age them — to hire their own sible settlement. While the internal investi- investigators to look into allega- The practice, though, has $230 million on gation and its related activities tions of violations of the FCPA its critics. “It’s fundamen- bribery investigation have cost Wal-Mart at least $230 and other wrongdoing. Some tally an unfair system,” said million through April 27 of this of Wal-Mart’s lucrative inves- Russell Mokhiber, editor of the Q&A With year, the move was the right tigative work is being done Corporate Crime Reporter, a By Mark Friedman one, according to legal experts by the Little Rock law firm of weekly newspaper headquar- New UALR [email protected] who follow Foreign Corrupt Mitchell Williams Selig Gates & tered in Washington, D.C. Practices Act enforcement. Woodyard (see sidebar, Page 13). By conducting their own Law Dean In November 2011, Wal-Mart But what’s not widely known In many cases, the findings investigations, corporations Stores Inc. informed federal is that the Department of Justice of those internal investigations are able to dodge prosecution “Legal education has agencies that it was conducting and the Securities & Exchange are then handed over to the DOJ and get off with light fines when progressed shockingly an internal investigation into Commission allow corporations and SEC, which can then use little,” says Michael allegations involving a Mexican — or, rather, strongly encour- the findings as a basis for a pos- INVESTIGATION CONTINUED ON PAGE 12 Schwartz, who will lead Bowen School of Law beginning July 1. [P26] Ferguson Juggles Debt After High-End Meltdown By George Waldon [email protected] The List [P16-17] The 30 Largest Law Events during the past five Firms in Arkansas years have administered a fiscal stress test for residential devel- Whispers [P3] oper Rick Ferguson, and 2013 Alltel employees safe, has been a year of restructured at least for now. debt and real estate holdings. Ferguson offered only a few comments related to his private financial dealings although some of his challenges have spilled into the public domain. ◗ A business partner, Gene Cauley, disintegrated finan- cially leaving Ferguson to sort through a debt-laden real estate portfolio they shared. ◗ Ferguson also was stung by a Ponzi scheme that fea- tured uninsured, high-yield certificates of deposit issued Waterview Estates is home to seven by a bank that Texas financier large homes, two of which are owned “Sir” Allen Stanford owned in by its developer, Rick Ferguson. Antigua, where he was knight- Some of the homes offer southern ed. Ferguson declined to say $2.5 million that another for- ◗ The top-end housing vistas of Lake Maumelle. [PHOTOS BY just how much the investment mer business associate, Steve market, the bread-and-butter JASON BURT] scam cost him, but it is believed Wortman, has acknowledged to have been more than the losing in the same scam. FERGUSON CONTINUED ON PAGE 9 BUY YOUR TICKETS TODAY: 20th Annual 40 Under 40 Lunch, June 14 Tickets available online at ArkansasBusiness.com/40Lunch Arkansas Business June 10, 2013 3 Safe Through 2013 Employees of Allied Wireless Communica- that after the sale closes, the “vast majority” Arkansas tions Corp. of Little Rock, which is being pur- of Alltel workers will “continue to perform the Business chased by AT&T Inc. in a $780 million transac- same jobs you are performing today and will tion announced in January, are learning more transition into an AT&T title with the compa- about the job prospects under the new owner. rable AT&T management job classification.” Allied Wireless, led by CEO Frank O’Mara, It also said employees’ period of Alltel ser- Whispers operates a retail wireless business under the vice will be recognized by AT&T for purposes Alltel name that has 585,000 customers in rural of its benefits plan and vesting requirements, For daily news, register at ArkansasBusiness.com/Enews areas of six states: Georgia, North Carolina, and Alltel workers will be immediately eligible South Carolina, Illinois, Ohio and Idaho. The for coverage under AT&T’s health and wel- Price Tag, Please the University of Arkansas in company was assembled fare plans with no waiting You may have heard that 1967 before moving away. He from assets Verizon had to period. the historic 12-story Albert Pike now serves on the City Council divest after its 2009 purchase AT&T says employees who Hotel in downtown Little Rock of Richmond, Calif., where of Alltel Corp. of Little Rock. are eventually terminated will be undergoing an extensive Chevron U.S.A. Inc. saw its refin- Alltel has been owned by will have 60 days to apply for renovation. ery burn in August 2012, result- Atlantic Tele-Network Inc. of other positions within AT&T, But do you know how much ing in thousands of people Beverly, Mass., which is now and terminated employees the new owner, Summit Albert going to the hospital, according selling the business to AT&T. will receive a cash payment Pike Ltd. of Montgomery, Ala., to news reports. Those Alltel employees equal to two weeks’ salary for paid for the 130-unit apartment Chevron has said it will pay have been wondering about each full year of service, up project at 701 S. Scott St.? some sort of compensation to possible layoffs since the deal to a maximum of 52 weeks’ That would be $3.3 million. Richmond, but the settlement is was announced in January. salary. Those employees The seller is Albert Pike still being negotiated, Butt said. On May 23, they received a let- would also be eligible for up Residence Hotel Ltd., led by So Butt has suggested that ter from AT&T outlining what to six months’ of subsidized Philip A. Jones. Chevron pay for college tuition to expect as the likely closing COBRA media coverage. annually for the approxi- date for the purchase, Sept. 1, In an e-mail accompany- mately 1,000 students who approaches. ing the AT&T letter, O’Mara A California Promise? graduate from high school in In the letter obtained by told Alltel workers that the A California politician who Richmond each year. He said Arkansas Business, AT&T letter gives “a great indication grew up in Fayetteville is lobby- he modeled the idea after the El says it doesn’t plan any ter- of the fairness and straight- ing to implement a scholarship Dorado Promise, the $50 mil- minations “due to workforce forwardness with which program similar to the El Dorado lion scholarship program set up adjustments or surplus” for [AT&T intends] to approach Promise in his San Francisco by Murphy Oil Corp. to pay col- the remainder of 2013. It said Frank O’Mara, CEO of Allied Wireless this transition.” n Bay Area city. Tom Butt graduated from WHISPERS CONTINUED ON PAGE 4 WHATAREYOUWORKINGONTODAY? WORKERS’COMPENSATION EMPLOYMENT DISCRIMINATION LITIGATION PRODUCTSLIABILITYDEFENSECONSTRUCTIONLAW EEOCEMPLOYMENTRELATEDIMMIGRATION OFCCP AUDITS TRANSPORTATIONLAW WRONGFUL DISCHARGECIVILLITIGATION USERRA LABORRELATIONS AFFIRMATIVE ACTION PLANS ADAFMLA EMPLOYEEBENEFITS EMPLOYMENT CONTRACTS INSURANCEDEFENSE HRTRAINING UNION ORGANIZING HEALTHCARELAW ERISACORPORATEANDBUSINESSLAW I-9 COMPLIANCE OSHA UNEMPLOYMENT COMPENSATION WAGE AND HOUR INVESTIGATIONS EMPLOYEE HANDBOOK REVIEW NLRB ELECTIONS COLLECTIVE BARGAINING HEALTHCAREREFORMCOMPLIANCE GOVERNMENTLAW Paramount Building LETUSHELPYOUNAVIGATEWORKPLACECHALLENGES ANDSTAYFOCUSEDONWHAT’SIMPORTANT 11025 Anderson Drive YOUR BUSINESS. • Seeking Proposals For Sale • Indications of Interest by Mid June • Excellent Visibility • Convenient Proximity to I-430 & Cantrell Rd Interchange • Data Center on First Floor • Nearby to Restaurants & Retail www.flake-kelley.com For More Information, Contact: Hank Kelley, John Flake or Bill Pendergist LITTLEROCK|FORTSMITH|NORTHWESTARKANSAS|CGWGCOM [email protected] | [email protected] | [email protected] | 501.375.3200 4 June 10, 2013 Arkansas Business WHISPERS WHISPERS CONTINUED FROM PAGE 3 that Chevron will “come around” and One of those customers, Gregory A. announce a scholarship program. Hunt of Russellville, began his 33-month lege tuition and fees for all El Dorado sentence in the federal prison at Memphis High School graduates. It was launched in January, but he died Feb. 25 at age 46 in 2007. Judge to Standridge: No — from natural causes, according to the “I’ve been fascinated by this El Dorado U.S. District Judge Brian Miller, the motion Dudley filed. Promise deal,” Butt said. third federal judge to take on the bank With “one key witness … eliminat- He said he’s received tons of support fraud case of former Mount Ida insur- ed due to an untimely death,” Dudley for his idea, but Chevron hasn’t said ance agent Steve Standridge, has said asked to depose the other, Danny Wood of much about it. When we asked Chevron, no to Standridge’s request to depose one Idabel, Okla., president of Wood Lumber we received this cryptic email response: of the government’s two primary wit- Steve Standridge, federal courthouse in Little Co., which has operations at Camden “Chevron U.S.A. Inc. looks forward to nesses. Rock, Sept. 18, 2012. [PHOTO BY MARK FRIEDMAN] and Idabel. continuing its ongoing discussions with Pretrial depositions are not gen- Wood also began his 30-month fed- the City of Richmond regarding how erally allowed in criminal cases, but When Standridge was indicted on 12 eral prison sentence in January — but at Chevron USA and the City can be effec- Standridge and his Little Rock attorney, felony counts last August, federal pros- the federal prison in Fort Worth, which tive community partners now and in the Tim Dudley, thought this situation was ecutors revealed that two of his former has special medical facilities.
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