LITTLE ROCK, Ark. (Arkansas Business) -- Stocks ended higher Monday on new developments in the search for a new Federal Reserve chairman. The current Fed Chairman, Ben Bernanke, is likely going to step down from the post in January when his term ends.
Yesterday, former Treasury Secretary Larry Summers withdrew his name from consideration for the job and that move caused a spike in stocks.
This, because Summers had been expected to move aggressively to rein in the Fed's huge economic stimulus program -- a program that's boosted stocks.
President Obama is expected to nominate Ben Bernanke's successor as early as this month.
The current front-runner is Janet Yellen, the Fed's vice chair.
Resolution to expand Oaklawn Park
An expansion of Oaklawn Park is on the agenda tonight in Hot Springs.
The city board of directors is considering a resolution this to approve a site plan that would expand the number of gambling tables and machines at Oaklawn by about 50 percent.
An appeal has already been filed in the matter, questioning whether Oaklawn will have sufficient parking to handle peak crowds during live racing season.
The appeal also questions whether the expansion required a new rezoning for Oaklawn.
The move comes as Oaklawn, like Southland Greyhound Park in West Memphis, is taking in vastly more revenue in electronic gaming than traditional live racing.
UACCH Texarkana campus getting $3.5 M building
And finally, a new building project soon to be underway at the University of Arkansas Community College at Hope's Texarkana extension.
University spokesman Brent Talley said the new classroom building is part of the extension expanding its acreage from 8.5 acres to 22 acres.
The university is also building additional student parking and planning is underway for an still another education facility.
Talley said ground will be broken later this year on a 16- to 18,000-SF building with a price tag of $3.5 million to $3.7 million.
The UA's Hope Community College first opened its Texarkana extension in fall 2012.