LITTLE ROCK, Ark. (Arkansas Business) -- Stocks pretty much flat yesterday as investors await word later today from the Federal Reserve's latest policy-making meeting.
Some investors think that the Fed could announce as soon as today that it will begin ending its $85 billion per month bond buying program.
That program has been a key economic stimulus effort and has helped power this year's rise in stocks.
Allens may have a buyer
Allens Inc. of Siloam Springs, the private, family-owned vegetable cannery that filed Chapter 11 bankruptcy in October, has a prospective buyer.
Seneca Foods Corp. of Marion, New York, which produces Green Giant canned vegetables for General Mills, said it wants to buy Allens' assets for $148 million.
The two companies announced the agreement yesterday.
Per the deal, Seneca would have the right to meet or beat any other offers Allens might get at an auction of the company's assets set to take place next month.
A bankruptcy judge will have to approve any deal for a sale of Allens.
Allens employs about 450 people in Arkansas. It's facing about $280 million in debt.
Mountain Home company creates new jobs
Epoxyn Products, a company that makes specialized table- and counter-tops and other surfaces for laboratories, said it will expand its manufacturing facility in Mountain Home, creating 50 jobs.
Gov. Mike Beebe and other economic development officials attended the announcement in Mountain Home.
Epoxyn said it will invest $5 million in the expansion so it can serve customers around the world.
And Mike Beebe isn't done yet. The governor is set to make another,quote, "important" economic development announcement at 10:30 today at the state Capitol.
Arkansas Business will have more on that later today.