Question-and-Answer Session
Operator
I would like to reiterate that my earlier comments regarding forward-looking statements apply both to the participants prepared remarks and to anything that may come up during the Q-and-A session. (Operator Instructions). Your first question comes from Ken Green - Boston American.
Ken Green, Boston America
Given the differences in economic conditions around, there was an article recently that Arkansas was holding up a little bit better. And could you compare contrast regions? I know you’re pretty big in Texas and opened up a lot of new stores down there, and that’s the oil industry; and with Arkansas, the higher rates, I just wondered if you’re seeing any changes in geographic sections of the country?
William Henderson
I wouldn’t say so many of the macro factors affecting us in the different parts, from one to another. I mean, we’re primarily small towns across the south tend to be very similar. However, I don’t know if Jeff wants to speak on it or not, but specifically Texas, as you mentioned, we’ve made a lot of improvements there, things are doing much better there, but I think it moreover has to do with a lot of internal changes, more efficient management that we’ve made.
Tilman Falgout III
From an employment standpoint and Jeff has some information about that, but basically what we’ve seen is most of the areas we’re in are below the national averages on unemployment, better than most; but again, you go back to some of those areas where they’re higher than the national average, but they’ve always been higher, such as Southeast Arkansas, I [guess Hank] in Pine Bluff, and we continue to do well there. But generally speaking, the areas we’re in, employment is better than the national averages, although it certainly has crept up a tad.
Ken Green - Boston America
And then a quick follow-up question. Given tighter credit, you cited that you are going to get a few more customers that normally might have gone into a dealer or something like that. How about your own credit? I mean, has tighter credit caused anything to America’s Car-Mart, or have you a collection of banks or credit facilities still open to you at the same level as you were before?
Jeffrey Williams
Yes, we currently have about $24.5 million of excess availability on our revolving credit facilities. So, we’re in good shape in terms of capital. We have a good group of banks in our lending group. They’re all in good shape financially; so we feel good about our situation, as far as the credit side of the business.
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