LITTLE ROCK, Ark. (Arkansas Business) -- Investors were surprised by the low numbers in a report from the Institute of Supply Management saying manufacturing was down during November. It was the weakest level seen since July 2009.

The report was in line with one from Creighton University suggesting an economic slump for the next three to six months for nine central states, including Arkansas.

Here in Arkansas, the University of Arkansas' chancellor has moved aside the chief of fundraising for the Fayetteville campus, saying the office finished last year with a $3 million deficit and needed this year's budget plugged, too.

It's a story Arkansas Business broke in its Monday newspaper.

Chancellor David Gearhart issuing a statement Monday morning saying his vice chancellor for advancement, Brad Choate, is being given other duties. Gearhart will direct the University of Advancement Division himself.

Choate isn't accused of misappropriating any funds but Gearhart says Choate and his budget director improperly used anticipated revenues to meet current budget obligations.

Gearhart says Choate will continue to work on developing a new fundraising campaign. Choate's appointment ends at the June 30 close of the fiscal year.

Arkansas Business reporting that Choate will continue to draw his $350,000 salary.

And two job moves:

The University of Arkansas for Medical Sciences saying Monday that Leslie Taylor will be promoted to vice chancellor for its Office of Communications & Marketing.

Taylor is scheduled to replace Pat Torvestad in the position on Jan. 1. Torvestad plans to retire Dec. 31, after working for more than 20 years for the University of Arkansas System.

And the reporter on our story about Brad Choate -- Chris Bahn -- is our newest senior editor at Arkansas Business.

Chris will be based out of Northwest Arkansas, where he covered Razorback athletics for the past five years on our former sister site,

He's a native of Jonesboro and an Arkansas State University graduate.

(Source: Arkansas Business)

Read or Share this story: