Pinnacle Promenade not going b-u-s-t they say
The economic downturn has apparently caught one of NWA’s rising commercial Czars a little flat footed. When the Pinnacle Hills Promenade in Rogers was built, some Benton County folks loudly – and Daddy W. means LOUDLY proclaimed the end of “driving down to Fayetteville.” Maybe so.
But the owner of the Pinnacle Hills Promenade Mall in Rogers and the Pine Mall in suburban Pine Bluff, General Growth Properties, filed for Chapter 11 Bankruptcy protection about a week ago.
That’s making for some very nervous tenant’s up in Benton County, even though Pinnacle Hills Promenade was not including in the list of properties in the bankruptcy filing.
GGP, an out-of-state company, and its subsidiaries own more than 150 shopping centers nationwide. Certain subsidiaries, including GGP’s third-party management business and GGP’s joint ventures, have not filed for protection. Good luck folks.
This downturn is a real booger. Even for those people who “don’t want to drive down to Fayetteville,” anymore.
Big Question: How much has the government spent per person (every man, woman and child) since 2007 on bailing out the financial system? (Answer at the end).
Burt Hanna, the candle king and his ex-wife continue their war of divorce. This time the couple’s teenage daughter did not return to her custodial father’s home in NWA after a spring break visit to her mom’s in Florida. Now no one seems to know where mom and daughter are, but accusations are flying. See what a nasty divorce can do.
The Shiloh Museum of Ozark History was recently honored with two awards at the Arkansas Museums Association annual meeting. Good job. A great local museum. Check it out.
That little Eureka Springs free health clinic, known as ECHO, has garnered some national press of late. The clinic was featured on ABC World News, OPRAH and in PEOPLE magazine. Look for the issue of PEOPLE with John Travolta on the cover.
Despite a hailstorm and tornado warnings a week or so ago, the tow truck drivers never missed a beat. Several folks attending benefit events in the Dickson Street area, came out to find their cars towed, leaving their pocket books shy $90 after they’d braved the storm to try to do some good for the community.
The handy movie rental machines are becoming more common in NWA and why not? They’re cheap, convenient and easy.
The UA Business College has entered into an exchange program with a Vietnamese school of business. Soon students from the University of Information Technology at Vietnam National University, located in Ho Chi Minh City (formerly Saigon) will be in town. Voo Pig Sooie.
Missouri’s total LOTTO sales have ballooned from $423 million in fiscal 1996 to $995 million in fiscal 2008. Missouri’s proceeds go to public education, and the proceeds jumped from $132 million in’96 to $265 million in ’08. Arkansas’ new lottery is expected to generate less than $100 million in the first year.
That little recycling company in Springdale, AERT, is trying a backward stock split (where you give up 20 shares for one share) to get the company back on the big board. Will it work? Who knows. These reverse stock deals are risky. AERT, a victim of the housing slowdown and other assorted dilemmas, is clinging on by its financial fingernails.
There sure is a lot of yak-yak-yak about some high profile businesses in Fayetteville being behind on A&P Taxes and general state taxes. Uh Oh!
In Fayetteville? Word is that Fayetteville is on a short list of 80-plus communities to host one of the 70 sites for the World Cup in 2018 or 2020 … as in World Cup of soccer. Well that’s like saying Baum Stadium COULD (operative word) host THE MLB World Series. Or Paradise Valley could host PGA events. But one strike: The UA is getting ready to lay artificial turf at Frank Broyles Field at Donald W. Reynolds Stadium on the University of Arkansas Campus. World Cuppers like that soft green grass that football coaches really don’t like.
BIG ANSWER: The government has spent about $8,887 for every man woman and child to bail out the financial system since 2007. Wow.