Nationally Recognized Economists Featured At UA Walton College 2005 Business Forecast Luncheon

• National Economy: Gene Huang, chief economist for FedEx Corp. and a managing director of the company's Economic and Industry Analysis Group; and

• State and Local Economy: Jeff Collins, director, Center for Business and Economic Research, Walton College.

"Once again, the Walton College is fortunate to have an extraordinary panel of economists agree to share their forecast for the coming year," said Walton College Dean Doyle Z. Williams. "We believe the opportunity to hear the unique perspective offered by these accomplished individuals provides tremendous value to business and civic leaders from Northwest Arkansas and the state."

Williams added, "This event is part of the outreach activities of the Walton College through the Center for Business and Economic Research. We especially want to acknowledge the generous support of our sponsors who make this event possible. Last year's luncheon was the most successful to date with more than 970 in attendance, a number we expect to surpass this year."

The sponsors to date for the 2005 Business Forecast luncheon include: AEP Southwestern Electric Power Co.; Arkansas Western Gas Co.; Arvest Bank Group; Bank of Pocahontas; the city of Fort Smith; Ernst & Young LLP; First Security Bank/Crews and Associates; First United Mortgage; Greenwood and Associates Inc.; Dan and Jodi Grubb; McKee Foods Corp.; Moore Stephens Frost; Rebsamen Insurance Inc.; Regions Bank; The Schmieding Foundation Inc.; Southwestern Energy Co.; Simmons Foods Inc.; Tyson Foods Inc.; Vendor Managed Technologies "Velocity"; and Wal-Mart Stores Inc.

Korell joined Southwest Energy Co. in 1997 as executive vice president and chief operating officer. Previously he served as senior vice president of operations at American Exploration Co., as executive vice president of McCormick Resources and in various positions at Tenneco Oil Co. He is a graduate of the Colorado School of Mines and a Licensed Professional Engineer in Texas and Colorado. Korell was a member of the National Petroleum Council, Society of Petroleum Engineers, American Gas Association and Independent Petroleum Association of America. He also serves on the Walton College Dean's Executive Advisory Board.

Menzer holds full operating responsibilities at Wal-Mart for all of the company's international operations, including Argentina, Brazil, Canada, China, Germany, Japan, Korea, Mexico, Puerto Rico and the United Kingdom. He will bring specific expertise on China to the luncheon presentation as Wal-Mart plans to open 11 new stores in China next year. Currently, it runs 42 stores in 20 Chinese cities and employs nearly 20,000 workers. Prior to 1999, he served as executive vice president and chief financial officer for Wal-Mart Stores Inc. after joining the company in 1995. Previously, he was president of Ben Franklin Retail Stores. He led the Wal-Mart team in the acquisition of ASDA, a $16 billion food store chain in the United Kingdom. He was also team leader in the acquisition of Seiyu Ltd., a $9 billion retail chain in Japan. In 2004, Menzer received the "Retailer of the Year" award for Wal-Mart International from DSN Retailing Today. In 1999, he received the CFO Excellence Award from CFO magazine. Menzer holds a B.B.A. and M.B.A. from Loyola University and is a certified public accountant. He has served as a judge for the national finals of Students In Free Enterprise regional exposition for several years, receiving the organization's Golden Eagle Award for outstanding contributions.

Gene Huang is chief economist for FedEx Corporation and a managing director of the company's economic and industry analysis group. He is responsible for forecasting global economic and financial conditions and tracking and monitoring all industries served by FedEx. He is a member of the Blue Chip Consensus Panel, which provides economic consensus used by policy makers, the business community, Wall Street Journal economic panel, and Business Week business outlook panel. In 2002, Business Weekprofiled Huang and its "Most Accurate Forecast." He is a member of the board of the National Association of Business Economics. Huang holds an M.A. from Yale University and a Ph.D. from the University of Pennsylvania. He also holds a law degree from Fudan University in Shangai. Huang is the author of two books on business economics and many articles published in U.S., Japanese and European economic and policy journals. He is frequently interviewed by leading news journals and TV programs as an economic commentator. He has also served in an advisory capacity to U.S. Government agencies and international organizations.

Jeff Collins has served as director of the Walton College's Center for Business and Economic Research since 1999. He oversees applied economic research as part of the college's outreach mission. Recent studies have been conducted for the city of Fayetteville, Arvest Bank Group, and the Benton County Prosecutors' Office. In September 2004, Collins completed a study with the Milken Institute, which analyzed opportunities and challenges faced by the state to develop high-wage, high-skill employment. The study was conducted for Accelerate Arkansas and funded through the Winthrop Rockefeller Foundation. Study recommendations are designed to make the state more competitive and raise per capita income. Collins has published in scholarly and applied journals, and he is regularly interviewed by national and local media. He earned his Ph.D. in economics from the University of Tennessee in 1996.

The Walton College's Center for Business and Economic Research is a public service/outreach organization whose mission is to serve its constituents with the highest quality research support; basic and applied business and economic analysis; timely, relevant business, economic and related public policy information; and other outreach activities. In addition to supporting research within the college, the center supports economic development by providing economic and demographic data and analysis to business, government, and individuals.

Registration forms will be mailed the end of December. For more information on sponsorships or reservations for Business Forecast 2005, contact the Center for Business and Economic Research, Sam M. Walton College of Business, Donald W. Reynolds Center for Enterprise Development, University of Arkansas, Fayetteville, AR 72701, 479-575-4151, fax 479-575-7687, or e-mail: cberinfo@cavern.uark.edu . To register online, visit the Business Forecast Web site at: http://cber.uark.edu