LITTLE ROCK, Ark. (Arkansas Business) -- Not a lot of action on this first back for investors after a three-day weekend.
The Dow dragged lower by shares of Coca-Cola, which fell $1.46 -- or 4 percent -- to $37.47.
Coke reported that its income and sales fell in the fourth quarter compared with the same period a year ago. The company said sales volume declined 1 percent in North America, its largest market.
Quorum Court Approves New County Jail
Here in Arkansas, the Crawford County Quorum Court has approved a ballot measure calling for a sales tax increase to pay for a new $20 million county jail.
The Crawford County Quorum Court voted Monday to ask voters to approve a 0.75-percent sales tax increase to fund the new detention center.
The proposal calls for a temporary half-percent tax to pay for land and construction costs and a permanent 0.25-percent tax to pay for operations and maintenance.
The measure will go before voters on the May 20 primary election ballot.
The new jail would replace the current 88-bed detention center, which has failed state inspections because of overcrowding issues.
Debate on Jonesboro Public Safety Tax
In Jonesboro, leaders are pondering what to do with an existing tax.
They're debating whether to ask voters to renew the city's half-cent public safety sales tax -- initially passed to avoid layoffs in the police and fire departments during the economic downturn -- or let it expire at the end of the year.
The four-year-old tax brings in about $7.3 million per year and is set to expire at the end of 2014.
Mayor Harold Perrin said he plans to meet with various groups soon to discuss whether the tax should be renewed or allowed to expire.
Perrin says the city's capital needs have mostly been met and that the city could manage without it if the current permanent tax is reworked to allow more flexibility in how the money is used.