JB Hunt giving to academics instead of athletics

[HogInMemphis]

Smart move, given the state of Arkansas athletics.

J.B. Hunt Transport Gives UA $10 Million
By Arkansas Business staff
Arkansasbusiness.com Daily Report - 10/13/05 12:06:15 PM

J.B. Hunt Transport Services Inc. of Lowell on Thursday said it had given $10 million to the University of Arkansas.

It is the largest donation ever made by the publicly traded company.

The money is for the construction of the university's new center for academic excellence, a $30-million facility that will house several interdisciplinary programs and departments.

The university said it will ask its board of trustees to name the building the J.B. Hunt Transport Services Inc. Center for Academic Excellence.

In April 2005, J.B. and Johnelle Hunt, the company's founders, committed $5 million toward the construction of the center.

[3kgthog]

Good Lord. Can't they pick a better name for this center?  It makes Donald D. Reynolds Razorback Stadium look like a word with one syllable. 

[HogDodging]

Don't forget, Mr. Hunt has only a 7th grade education.  I'd say he's done quite well for himself and this is great news.
If you've kept up with the Hunt stock and company's performance for the past three years, you'll know the company is swimming in cash.  Ten million dollars is literally a drop in the bucket.

[Inigo Montoya]

I have a few friends that work there as fleet mgrs/supervisors.  30-40% salary bonuses.  I'd say they can afford the 10 million.

[preunions]

JB Hunt split 2:1 on 5/24/2005, but fuel prices, Mr. Hunt retiring from the Board of Directors, slowing economy have hurt the stock price. However, its still a pretty good company, and they aren't feeling anything the other truckers aren't feeling. Beyond the stock price- they have a lot of cash on hand, so the big donation will probably go a long way towards reducing their burden when the tax man cometh.

[hogfan98]

Smart move, given the state of Arkansas athletics.

the money would have gone there regardless of the "state of Arkansas athletics."  anything to get a jab in.