Cannon Express, Inc. (CEXP)

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Info on CEXP Cannon Express, Inc, Source: 2006 Arkansas Business news.

Link:

http://www.arkansasnews.com/archive/2006/03/19/News/335070.html

From article:


However, another former publicly traded Northwest Arkansas company with ties to Wal-Mart has not fared as well as Brass Eagle. After battling with increasing financial difficulties for at least three years, Cannon officials announced late in 2003 that the trucking company would seek Chapter 11 bankruptcy protection.

In the late 1998, the freight that the Sprindale trucking firm hauled for Wal-Mart accounted for 50 percent of the firm's $109.24 million in revenue for the year. During its heyday, Wal-Mart heir Alice Walton owned a 9 percent stake in the company after it went public in the early 1990s on the American Stock Exchange.

But, Cannon's business with the Bentonville retailer dwindled to less than 10 percent after Cannon refused Wal-Mart's lower shipping rates around 2000. The headquarters of the defunct trucking firm, founded by Dean and Rose Cannon in 1981, is now empty and served as the site of a haunted house attraction on Halloween.