Business buzz -- CDI sold? | Arkansas Blog

Tuesday, July 1, 2008

Business buzz -- CDI sold?

Posted By on Tue, Jul 1, 2008 at 10:24 AM

Rumors are flying about sale of a major Little Rock construction company, or at least a portion of it, and a possible pullback from Northwest Arkansas, which is in the midst of a real estate shakeout, by another LR firm. We checked. The reports so far:

A spokesman in the CDI Contractors office said today that a sale is in process. No other information was immediately available, though rumors say an out-of-state company has made a successful bid. Dillard Department Stores announced in April it was seeking a buyer for its 50 percent stake in the national company based in Little Rock. The future of CDI’s corporate structure has been the subject of news stories since the death of its founder and CEO Bill Clark last year. In January, its CFO, John Glasgow, disappeared.

Also: Despite rumors to the contrary, May Construction Co.’s office in Bentonville is “absolutely, positively not closed,” Northwest Arkansas director Bill Gandy said Tuesday, though he is now working in Little Rock for the time being.


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