About Delta Trust 
Delta Trust News Archive
By Chris Harkins
We've all heard the rumors, this company is being purchased, and that company is buying another. Recent headlines surrounding the takeover attempt towards Acxiom and the perennial speculation on Alltel, Regions Bank and Dillards, keep the rumor mill turning. While no one knows the truth prior to the fat lady singing, I would like to see these companies left alone.
Why? We want these jobs! Dillard's, Alltel, Acxiom and Regions employ thousands. Now imagine a slimmed down version of any of the above. These companies support businesses, such as advertising, sign companies and even the person printing letterhead and business cards. You have heard and seen it all before--- the downsizing and impact of the economies of scale. Whether it's a hostile bidder looking to shake up management and directors or an outright merger or acquisition, history has provided little evidence that these events provide long term economic benefits at the local level.
Do we really need a quick pop in share price at the expense of so many obvious and not so obvious economic benefits. We need each and every job and more, be it a sales person at a retail store, or a programmer or networking specialist, or the customer service rep at a call center.
I used to work for two of the largest banks in the state prior to each being purchased by out-of-state banks. Some time after the close of the merger, here came the hammer, including a variety of uncomfortable Friday afternoons: also known as "ex-employee walking". The blood letting of co-workers fired, retiring or leaving for an existing competitor bank or start-up financial services institution is a slow and painful process. I chose the join Delta Trust just shortly after it opened. You've seen the vacant buildings downtown, where multiple floors that once held bankers, now stand empty waiting for new tenants. If you have never experienced this, it was depressing, frustrating, and sad as the axe came down from a faceless office several states away.
I understand the need and desire to consolidate and acquire companies. I'm as much the free market capitalist as the next free market capitalist. If I owned a business, I would look for ways to either part with slow growth segments and/or purchase footprints where I was able to grow and retain whatever profitable business I could. For example, the wireless telecommunications business is incredibly competitive, which is great for you and I as consumers and businesses, but rotten for the providers.
Retail is tough even in the best of times. Imagine how it looks today? The internet and discounting are in our blood and retail price is no longer an option. It's' SALE SALE SALE or DIE! Every several years or so, we see a wave of consolidation in the retail industry. Remember the recent merger between two sad, aging retailers Kmart and Sears.
I just want our local companies to remain just like they are, here, building buildings; spending money, hiring our neighbors, and spawning all the things that help provide the plasma that courses through our local commerce veins. In fact, I would like nothing more than for our local companies to do the acquiring and grow, attract and build our tax base and employees right here in Central Arkansas.
Once again let me reiterate---I'd like for everyone to leave our companies alone. My apologies to short-time investors looking for a quick profit. Go find another place to play.
Fingers crossed...CVH
