Business and Economics

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Entry Category: Business and Economics - Starting with F

Faubus, John Samuel (Sam)

John Samuel (Sam) Faubus was a hardscrabble farmer whose struggles to make a living for his large family from the thin hillside soil of Madison County turned him, for his time, into a radical—a champion of labor unions, civil rights for African Americans, other forms of social justice, and finally the Socialist Party of America. Following the script of the Socialist Party and its leader, Eugene V. Debs, Faubus opposed America’s entry into World War I and was arrested on federal sedition charges for distributing pamphlets opposing the war. After the early reforms of President Franklin D. Roosevelt’s New Deal, including Social Security, rural electrification, farm relief, and the federal wage-and-hour laws of 1936 and 1938, Faubus abandoned socialism, or …

Faucette, James Peter

James Peter Faucette was a politician, businessman, and the third mayor of Argenta, now North Little Rock (Pulaski County). He was a leader in the separation of Argenta from Little Rock (Pulaski County) after a forced annexation. Jim Faucette was born on September 28, 1867, in Pope Station, Mississippi, the fifth child and second son of James Beard Faucette and Eliza Jane Hubbard. The Faucette family settled in Texas in 1878 and then in Arkansas in 1880, moving to Searcy (White County), Dover (Pope County), and Russellville (Pope County) within a year. Faucette moved to Argenta, a small settlement on the north shore on the Arkansas River, opposite Little Rock in 1885, following his older brother Will Faucette, who settled …

Faucette, Will

aka: William Chesley Faucette
William Chesley Faucette was a politician, businessman, and the first mayor of Argenta, now North Little Rock (Pulaski County). He was a leader in the decade-long fight to separate Argenta from Little Rock (Pulaski County) after a forced annexation. Will Faucette was born on August 13, 1865, in Pope Station, Mississippi, and was the fourth child of James Beard Faucette and Eliza Jane Hubbard. The Faucette family moved to Texas in 1878, then to Arkansas in 1880, living in Searcy (White County), Dover (Pope County), and Russellville (Pope County) within the space of a year. Around 1883, Faucette moved to the small settlement of Argenta on the north side of the Arkansas River opposite Little Rock. The rest of the …

Fayetteville Shale

The natural gas field known as the Fayetteville Shale, development of which began in 2004, became recognized as one of the ten largest gas fields in the United States. The exploration of this resource was initiated by Southwestern Energy Company, which, by its high point in 2008, had booked sufficient natural gas reserves to heat every home in New York City for four years. This large find attracted other operators, creating a large, although short-lived, economic stimulus for Arkansas. The Sam M. Walton School of Business at the University of Arkansas (UA) in Fayetteville (Washington County) estimated the economic impact of the leasing programs, drilling operations, and royalty payments generated by the development in its first decade of operation at …

Feltner’s Whatta-Burger

Feltner’s Whatta-Burger at 1410 North Arkansas Avenue in Russellville (Pope County) is a venerable restaurant located across the street from Arkansas Tech University. Bob Feltner was born on February 3, 1926, in Russellville, the son of Robert Feltner and Theda Herrin Feltner. He married Juanita Scroggin on November 6, 1948, and they had a son and two daughters. They first owned a restaurant called Wonder-Burger near the Arkansas Tech campus. After Feltner did an experiment by sitting in a lawn chair on the side of Arkansas Highway 7 and counting passing cars, he and his wife decided to open a new place in the more heavily traveled area directly across from Arkansas Tech. Feltner’s Whatta-Burger opened for business on Thanksgiving …

First Security Bank

First Security Bank is a privately held company based in Searcy (White County). The financial institution employs around 1,000 and operates more than seventy locations across the state of Arkansas, in what it calls the “trail of teal,” a reference to the company’s signature corporate color. It is a division of First Security Bancorp, which is one of the five largest bank holding companies in Arkansas. The corporation became the second-largest privately held banking company in Arkansas and one of the fifteen largest privately held bank holding companies in the country. Reynie Rutledge serves as president and works from the flagship First Security Bank in Searcy. The three sons of Reynie and Ann Rutledge became involved in the business: John …

Fitzhugh Snapp Company

Located six miles north of Augusta (Woodruff County) at the junction of County Roads 140 and 165, the Fitzhugh Snapp Company at Fitzhugh (Woodruff County) was placed on the National Register of Historic Places in 2005 for its significance in two areas of merit: the general store’s important association with agriculture in Woodruff County and the building’s distinctive representation of twentieth-century commercial architecture. The Fitzhugh store was an integral part of an agricultural community that revolved around cotton production in the northeastern Arkansas Delta from the mid-nineteenth century to the mid-twentieth century. Rufus K. Fitzhugh and J. Harrison Snapp built the original wooden mercantile store in Fitzhugh, probably in the mid-to-late 1890s. Although its exact date of construction is not …

Flint Creek Power Plant

The Flint Creek Power Plant, located near Gentry (Benton County) and operated by Southwestern Electric Power Company (SWEPCO), is one of four coal-fired power plants in Arkansas. On April 9, 1974, SWEPCO and the Arkansas Electric Cooperative Corporation (AECC) jointly filed an application with the Arkansas Public Service Commission (PSC) to build and operate a single-unit coal-fired power plant and related facilities in western Benton County near Gentry, close to the Arkansas-Oklahoma state line. SWEPCO would build and operate the plant. This application was the second request to build a major coal-fired generating plant in Arkansas filed within the first year after the Arkansas General Assembly adopted a law known as the Utility Facility Environmental Protection Act. The first request, …

Ford, Joe Thomas

Joe Thomas Ford, son of Arkansas’s longtime top school official Arch Ford, embarked on a political career as a young man but then devoted himself to his business, building it into one of the largest communications companies in the world. His political career comprised four terms—sixteen years—as a state senator from Pulaski County. His once tiny rural telephone company was growing rapidly and in 1982 he had to make a choice: to either quit politics or his business. His name had come up in speculation about higher offices—governor or Congress. He quit politics, or at least the electoral aspect of it, and did not run for reelection. In 2008, Ford sold his company, Alltel, to Verizon Communications, Inc., for $28 …

Fordyce, John Rison

The son of Hot Springs (Garland County) entrepreneur and Cotton Belt Railroad president Samuel Wesley Fordyce, John Rison Fordyce forged his own way into Arkansas history. He was educated as a mining engineer but was also an inventor, manufacturer, leader in commerce, public servant, and amateur archaeologist. John R. Fordyce was born in Huntsville, Alabama, on November 7, 1869. He moved to the health resort of Hot Springs at age five with his father and mother, Susan Chadick, after his father, suffering from malaria contracted during the Civil War, found renewed health in the local thermal springs. The third of five children, Fordyce—along with his three surviving siblings—was educated in Hot Springs schools. His father was instrumental in Hot Springs’ …

Fordyce, Samuel Wesley

Samuel Wesley Fordyce was a businessman who spearheaded efforts to build thousands of miles of railway in the South and Southwest during the late nineteenth century, including the Cotton Belt route that crossed Arkansas. He also was a major force behind the transformation of Hot Springs (Garland County) from a small village to major health resort. The town of Fordyce (Dallas County) is named for him, as is the Fordyce Bath House in Hot Springs. Samuel Fordyce was born on February 7, 1840, in Senecaville, Ohio, the son of John Fordyce and Mary Ann Houseman Fordyce. As a boy, he never liked school, but he attended Madison College in Uniontown, Pennsylvania, and North Illinois University in Henry, Illinois, before becoming …

Fort Smith Telephone Operators Strike of 1917

On September 19, 1917, women who were employed as telephone operators by the Southwestern Bell Telephone Co. in Fort Smith (Sebastian County) left their stations, walked out of the exchange, and began striking. This strike was a response to the company’s dismissal of two employees, Nora Boger and Mamie Garret, due to their involvement with the creation of a labor union for the operators. When the company denied the reinstatement of these women, the strike began. Over the next four months, the company would wage court battles against the strikers instead of listening to their demands, and conciliators from the Department of Labor would be called in to help solve the conflict. While the strike itself was tumultuous and disrupted …

Foster, William Franklin (Bill)

William Franklin (Bill) Foster was a longtime and influential member of the Arkansas House of Representatives. Serving in the state legislature for over three decades beginning in the early 1960s, he was particularly well known for his work on behalf of senior citizens. Bill Foster was born on August 2, 1916, in Lonoke County. He was the oldest of three children born to Joseph R. Foster and Josephine Margaret Crutchfield Foster. Foster grew up in Lonoke County, graduating from Lonoke High School in 1934. In the midst of the Great Depression, he worked for the Arkansas Department of Transportation as a statistician for eight years. In 1943, with World War II raging, he joined the U.S. Army Air Force. Discharged in …

Franke’s Cafeteria

Franke’s Cafeteria was established by C. A. Franke in Little Rock (Pulaski County) in 1924. It was widely recognized as a culinary institution in the city and was one of the oldest restaurants in Arkansas before its closure in 2020. After leaving the military, C. A. Franke opened a doughnut shop in 1919 on West Capitol Avenue and then a bakery at 111 West 3rd Street in 1922. After determining that bakeries would soon spread and start competing with his own, he sold the bakery to Safeway and switched to the cafeteria business. He opened the first Franke’s Cafeteria in 1924 at 115 West Capitol. Starting in the 1920s, the cafeteria saw four generations of Franke family members take the …

Frauenthal, Max

Max Frauenthal, a German immigrant noted for bravery in the Civil War, established an important mercantile business in Conway (Faulkner County). He was later known as the “Father of Heber Springs and Cleburne County.” Max Frauenthal was born on November 11, 1836, in Marienthal, Bavaria, Germany. No definite records of his parents’ or any siblings’ names are available. According to family history, his grandfather was called simply Meyer until the early nineteenth century, when the enactment of the Napoleonic Code required European Jews to take surnames; Meyer took Frauenthal, the name of a town south of Vienna, Austria. Max Frauenthal was fifteen when he came to the United States, eventually settling in Brookhaven, Mississippi. At Summit, Mississippi, he enlisted in …

Frazier, George Thomas

George Frazier was a well-known business, civic, and political leader in Hope (Hempstead County) for six and a half decades. He served as a close friend and advisor to prominent Arkansas Democrats, most notably two Hope natives: Bill Clinton and Mack McLarty. Frazier was also a key figure in the effort to preserve Clinton’s boyhood home in Hope as a National Historic Site. George Thomas Frazier was born on October 29, 1918, in Anderson, Kentucky, to Leonard Leigh, a machinist, and Faye Thomas, a secretary. Leigh left his family when George was two, and his mother married John Joseph Frazier, a construction worker from St. Louis, Missouri, in 1923. John Frazier adopted George, and the family lived in St. Louis …