Alumni Pledge to New Graduate Building

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Larry and Janett Crain

FAYETTEVILLE, Ark. — Alumni Larry Crain and his wife Janett of Little Rock, Ark., have made a $100,000 gift to the Sam M. Walton College of Business at the University of Arkansas to help students refine their investing skills.

The Crains have made a pledge toward the construction of Willard J. Walker Hall, the college’s new graduate education building. The Larry Crain Family Trading Studio will be named in honor of their gift.

The new building will house the Trading Center, a part of the Garrison Financial Institute, which will oversee the operations of Walton College’s three student-managed funds. The Crain Trading Studio will be a part of the special trading floor facility for the educational activities involved in these funds. The three fund classes available to Walton College students are: the Rebsamen Trust (equity) portfolio management class, the Arvest Bank Group fixed income portfolio management class and the Shollmier MBA Investment management class.

Walton College Dean Dan Worrell said, “We are very grateful to the Crains for their support of this important building. The trading studio will help our students practice their investment skills. Walker Hall is going to help the college advance and become as nationally competitive in graduate business education as it has become at the undergraduate level.”

Larry Crain said, “We appreciate the education we and our three sons received at the University of Arkansas and the opportunities realized. Walker Hall is an exciting addition to the Walton College, and we are glad to be a part of it.”

Larry Crain graduated from the University of Arkansas in 1963 with an accounting degree and became a certified public accountant. Janett Crain received a bachelor of science in secondary education in 1963 from the University of Arkansas, where she was a member of the Delta Delta Delta Sorority.

He worked three years for the Peat Marwick international accounting firm when decided he wanted to go into business for himself. He joined Crain Automotive Inc., a parts wholesale and retail store begun by his father, Paul Crain, in Searcy, Ark. in the early 1950s. In 1966, the company built new headquarters in Searcy. In 1977, Crain purchased Kargo Inc. of Memphis, Tenn., from U-Haul Company. In the early 1980s, the company saw an industry trend and customer need for free-standing auto stores and opened its first KarPro in Searcy.

In the 1990s, Crain began purchasing automotive dealerships in Central Arkansas. In 1992, when the company moved to North Little Rock, Crain established the automotive replacement business, obtaining nationally known name distributorships. In 2000, a majority of the automotive parts distribution facility was merged into the O’Reilly Auto Parts operation. In 2002 Crain purchased Caldwell Broadcasting of Searcy, which operated radio stations and renamed the company Crain Team Media. In 2003, a joint operating agreement between Crain Media and Searcy’s TV3 cable TV station was completed allowing Crain Media to partner in TV broadcasting.

Crain is now chairman of Crain Management Group LLC, a holding company with majority interests in a group of diversified companies. The holdings include interests in 10 auto dealerships, automotive parts distributors, and radio and TV broadcasting as well as investment real estate. In 2004, he purchased Arkansas’ first basketball franchise, the Rimrockers. He was awarded the Walton College Alumni Entrepreneur of the Year in 2005 for his accomplishments.

 In April 2003, the Walton College announced plans for a new graduate education building to be constructed northeast of the Business Building. The building was named for the late Willard Walker, in honor of his success in retail management with Wal-Mart Stores Inc. At the time, the Willard and Pat Walker Charitable Foundation pledged $8 million for the construction of the building. The building will showcase technology-enhanced teaching classrooms and student learning spaces, student team rooms, project rooms for industry partnering, the financial markets trading room, and two research centers. Construction is expected to be completed by summer of 2007. Walker Hall was designed by Machado and Silvetti Associates Inc. of Boston and Allison Architects Inc. of Little Rock. For more information on Walker Hall and building images, go to: http://waltoncollege.uark.edu/walkerhall/