In this week's episode we kickoff the Arkansas Business Hall of Fame series where we will showcase conversations with the 2024 honorees who will be inducted into the Arkansas Business Hall of Fame in February 2024. The first conversation is with John Conner Jr., President of Holden-Conner Company. John, who hails from Newport, Arkansas and comes from a legacy of Arkansas farmers. He discusses his lifelong commitment to farming and his leadership role at the Holden Conner Company. He touches upon the significance of relationships in business and the Conner family's multi-generational ties to the University of Arkansas. Brent also delves into John's approach to expanding his family's farming operations, his strategic insights into land development, and the hard work that has been instrumental in cultivating a successful agricultural enterprise in Arkansas. This episode is a celebration of John's contributions to the industry and the values that have propelled his family's legacy through five generations.
Podcast Episode
Episode Transcript
John Conner, Jr. 0:00
If you have the relationship with people, and you got the trust with the people you're
doing business with, then they're gonna be a lot more likely to, to do business with
you.
Brent Williams 0:12
Welcome to the Be Epic Podcast brought to you by the Sam M. Walton College of Business
at the University of Arkansas. I'm your host Brent Williams. Together, we'll explore
the dynamic landscape of business and uncover the strategies, insights and stories
that drive business today.
Well, today I have with me John Connor Jr. John is with Holden Connor Company, and is a member of the Walton College Dean's Executive Advisory Board. And most importantly, for this particular podcast is a member of the 2024 Arkansas Business Hall of Fame class, John, congratulations on being elected into the Hall of Fame.
John Conner, Jr. 0:59
Thank you, Brent. It's quite an honor for myself for my family. And I certainly do
appreciate it.
Brent Williams 1:05
Well, certainly,
John Conner, Jr. 1:07
Confidence that the selection committee has shown in me and my family.
Brent Williams 1:11
Well, certainly, I think was a pretty obvious case, what you've done in business,
and particularly, you've done it all in Arkansas, based out of Arkansas was was quite
the compelling case. I want to get to your story, really, of building your businesses,
primarily in agriculture. But first, let me start with the U of A and the Walton College
if I can. Your family has a really, really long history at the University of Arkansas.
And that's been really important to you.
John Conner, Jr. 1:48
Yes, it has and I'm very thankful to have been able to go to university. I love the
University of Arkansas. My grandmother graduated here in 1918 class, my dad graduated
in 1947. I graduated 1970. My son graduated in 1994. And my granddaughter graduated
in 2022. So we five, five generations
Brent Williams 2:14
That's pretty unusual. There's not many families in this state I don't think that
that can say that. And you know, what's kind of special here, right is to walk around
this campus and get to see names on the sidewalks of all your of all your family members.
John Conner, Jr. 2:33
Yes Brent, that was one of my goals, came up in the 50s with my parents, there's a
Razorback games, and I saw those names, saw my dad's name honorable grandmothers,
and I want to be on that wall and I was able to accomplish that. And then my brother
and sister also graduated here too shortly after I did.
Brent Williams 2:55
Well, John, most people probably don't know this. I don't know why they would. But
one thing we have in common is, is growing up in the same town, Newport over in Northeast
Arkansas. And for those of you that don't know, Newport's a small town, a small town
in the Arkansas Delta. And it's pretty easy to be pretty tightly connected. And here's
one thing I remember knowing about you growing up, I can remember the one thing I've
always known and my dad actually told me this, you know, years and years ago, of just
how hard you worked. And it seems to me like hard work has really kind of been kind
of the core of who you are and how you built the company and the people around you.
John Conner, Jr. 3:45
Well, I want to think all worked hard, but I probably could have worked harder, but
I grew up my granddad and my dad working hard. And I saw that and and I started working
on a farm when I was in high school before real job, and I liked it and I came here
to Fayetteville and I decided to go back home and work with my family. And that's
when I got out of university in 1970. I went back started working on my dad and my
granddad started farming then.
Brent Williams 4:16
And if I remember your story, right, your family at that time was farming 7, 8000
acres of farmland probably primarily in Jackson County. And then I think slowly over
time, that's one place you focus a lot of your career was on the development of land
in that area.
John Conner, Jr. 4:39
Yes, when I came back there, my family had about 8,000 acres and as I like to say
my granddad left me a little bit seed corn to get started on. And, and so I started
learning how to farm and farming and, and and started purchasing properties there
in 72. And I bought the first property there in 72 is 520 acres and, and then I just
kept buying property and kept buying property. And it worked out and we farmed part
of it for a while. And then we rented part of it out. And to this, at this point in
time, we're renting it all out to other producers, we got several tenants that farm
rice, soybeans, corn, wheat, cotton.
Brent Williams 5:31
John, I think, you know, knowing how to, I guess buy the right properties, and know
how to invest in those properties and and develop those properties takes a great deal
of expertise. It seems like it's something you've studied pretty carefully.
John Conner, Jr. 5:49
Well, I realized that after we went through that drought in 1980, which was brutal.
For most people in agriculture, we didn't have the irrigation in eastern Arkansas
we have today, I realized that it was going to be necessary to improve these farms.
And so there during the 80s, we started a leveling program and improvement program.
And we've started grading our property. And we've we've got irrigation on about every
80 acres, we got a well, and we got it where the people that are farming it are able
to count on making a crop because they know they got water and they got drainage and
and they got things it takes to to make, make a good crop and make a good living.
Brent Williams 6:36
Well, you know, you kind of alluded to this, but you mentioned 1980 drought, which
was pretty well known to be pretty, pretty devastating in many ways. Agriculture row
crop in general, usually has some pretty big swings in in the cycle. And you've I
guess, over a 50 year period, you've seen lots of those swings
John Conner, Jr. 6:59
I have and of course it was 80 and then during up till about 85, six or seven, it
was extremely difficult. We were having 20% interest rates, high crop loan rates to
borrow but at that time I was farming and then they changed the farm programs up to
where you had paba limitation. So I just ran my ground out and quit farming myself.
And in in in the 90s we had some difficult times and then in the 2000s. But it agriculture's
always been a cycle. And we've just thank goodness been able to weather the storms.
Brent Williams 7:39
Well, and you know, I guess you've well, we've we've primarily talked about, you know,
your land holdings at this point and what you've built over over this period. But
at some point, you know, you started to broaden out and and to go out into other industries
that were connected to agriculture, and the the agricultural equipment industry, John
Deere dealerships is is been a big part of your story as well. When, when did you
acquire your first Greenway dealership?
John Conner, Jr. 7:42
We in 88
Brent Williams 8:06
Okay,
John Conner, Jr. 8:06
is when we had the first dealership there at Newport and operated that for a while
and, and then in the middle of late 90s, we bought three more stores. And then Deere
was changing their philosophy from being a one or two store operation to go in what
they call the dealer of tomorrow operations, where they put several stores together.
And I've they've allowed us to expand our franchise and grow to the footprint we have
today. And the reason that the footprints important is because having the stores we
can afford to have the better technicians, the better parts people the better AMS
people that work with the technology we have today work with our farmers. And so by
having that scale, we're able to give our customers better service and hopefully have
a better place for our employees to work and a better environment for everybody concerned.
Brent Williams 9:24
And that's grown to how many dealerships?
John Conner, Jr. 9:27
We have 32 open at this time.
Brent Williams 9:30
and that's Arkansas, Mississippi
John Conner, Jr. 9:33
Arkansas and Missouri,
Brent Williams 9:34
Missouri
John Conner, Jr. 9:34
We're John Deere stores in Arkansas and Missouri.
Brent Williams 9:37
Okay. What has you know, so, you know, started in 1988 with that and grown to 32 stores,
you know, what have you seen as you have you built that business? Kind of maybe, you
know, kind of the ups and downs of of that business as well.
John Conner, Jr. 9:56
Well when we started expanding in the late 90s, we decided to go with some more professional
top management, Marshall Stewart came in with us. And he was a store manager for a
while. And then he became the general manager of everything. And he's a partner in
the Greenway Equipment Company. Now, he says the thing that we're able to do with
getting a scale, we're not only able to get better people, to help our customers and
our farmers, we're able to get better management people, we were able to built a team.
And and we want to think we've got the best managed Deere operation in the entire
Deere system. And, and hopefully we're giving the best service and to our customers,
the best value for what they get what they are using,
Brent Williams 10:53
In terms of, you know, your scale in Greenway. It's it's one of the top franchises
in the country, if I'm not mistaken
John Conner, Jr. 11:01
Yes.
Brent Williams 11:04
You know, so land, Greenway, and maybe more recently, you've started to expand in
to some other businesses as well.
John Conner, Jr. 11:14
Well, about seven, about 10, 12 years ago, Marshall and I bought a small fuel company
in Jackson County farmers oil together. And we operate that for a while. And then
I'd been friends with a man named Sulles, got to know Scott Petroleum, it'd been in
Mississippi. And he called me up one day and says why don't you come down here and
buy this. He said, I'm my family wants to be sell it, my age is 84 years old, and
I need to do something. So we went down there and talked to him. And we worked out
something and we expanded into Mississippi, Louisiana and Arkansas with a fuel business,
which was separate than a Newport Jackson County operation. And we've since then combined
them and bought some other fuel companies that are in central South Central Stuttgart
area. And in northern, the Northeast Louisiana part. And then also here in Northwest
Arkansas. We have Anderson Propane.
Brent Williams 11:14
I assume with you know, so petroleum business, we haven't talked about I think you
got a construction company. You got land, you got the the Greenway Equipment Company,
all are pretty adjacent to agriculture. And I assume that that there's some synergy
across those?
John Conner, Jr. 12:38
Yes, we had done business with Frank A. Rogers company in Newport for my dad had in
the had since I'd been back there, built, built commercial buildings, for us shop
buildings, for us grain bins, for us and various and under construction projects.
And they people that owned it, or the Scoggins family had decided to divest of it
and sell it. And so Marshall and I bought that. And we've run that now as a separate
independent business. And actually, we gotta U of A graduate.
Brent Williams 13:19
That's right.
John Conner, Jr. 13:20
Taylor Maherd running that business now doing a really good job. And and it's been
a good, a good operation for us.
Brent Williams 13:27
Absolutely. Well, you know, as you've built this company, these companies, might be
the better way to say it over the last 50 years. You know, being in Northeast Arkansas,
how did you know finding capital to do that, you know, is, you know, probably an art
of its own. You probably know, every banker in the state if I had to guess.
John Conner, Jr. 13:54
That's a really good question. I probably been in many banks, just about anybody,
you know, and you just, it's a land the land business is very capital intensive business.
And it takes a significant amount of capital. And then when you start improvement
work, it takes a whole lot more capital. And so so yes, I was always gauge short,
capital short, looking for money every day, seven days a week, lot quieter for many,
many, many, many years. And it's, you've just got to establish the relationship with
your bankers and you got to do what you say you're going to do, and, and get the track
record to where you have the relationship where they believe in what you're going
to do and they go along with you, I've have had several bankers who believed in me
and I've got the good team and a good organization and I couldn't have done all the
things I've been able to accomplish without the team I've gotten and all the people
from the top to the bottom who've helped me do this. And, and then also, I've had
many bankers that believed in me, and we re in or had been a big help in getting it
done. And many suppliers that have been helpful there when I needed it to get my farms
improved or make the needed adjustments where we need to make them. And so it's it's
been a it's been a long journey. And it's it's just because I had a lot of good people
in the organization and the team and there to help.
Brent Williams 15:47
Well, I'm sure all that's true, I think, I think some vision and leadership on your
part was also in that mix. And, you know, it can't be understated, that the power
of relationships to fuel business, and it doesn't matter if you're in finance, or
supply chain, or agriculture, to really grow successful companies, it takes great
teams, and it takes great external relationships.
John Conner, Jr. 16:16
I think you're exactly right. And I think that sometimes people don't don't put enough
emphasis and enough importance on the relationship with different people. Because
if you have the relationship with people, and you got the trust with the people you're
doing business with, then they're gonna be a lot more likely to, to do business with
you. And it's just when you're extremely capital intensive business, like the equipment
business is and the farming business is and, and, you know, pretty much the fuel businesses
too, because if you go from $2.50 cent fuel to $5 fuel, it's just takes a lot more
capital. So, so you've got to have relationships to have, have your credits worked
out.
Brent Williams 17:02
Well, you know, kind of pivoting on relationships just a little bit. I know, I know,
family is one thing, that's, that's pretty important to you. And I think you you know,
few, the younger generations are starting to get involved in your business I know
which is which is got to be really exciting.
John Conner, Jr. 17:22
Yes, my granddaughter graduated in 22, with an accounting degree here from the University
of Arkansas. And she came back this past April, and started working with me and glad
to have her in the business. Now I've got a family member that's involved in the business.
And so far, she says she likes it and was glad she came back. So I think it's working
well.
Brent Williams 17:50
Well, I know personally, that she's quite bright, and was glad to see her join the
company and apply the skills that she's gotten into Walton College not too long ago
and start applying those in the business. You know, John, is you're just looking forward,
you're looking forward to kind of at your, at your industry. What are what do you
think is coming in agriculture? What's the what's the change that sort of has you
interested in and excited?
John Conner, Jr. 18:20
Well we seem to still continue to have more consolidation. And I guess that's good
and bad, really, you don't have as many small family farmers as you once had, by any
means. Some of these guys are getting so big that it's it's hard to manage the large
large operations on a tenant basis when they're when are running these large operations.
And so there'll be some challenges going forward. And as we have more consolidation,
it's gonna change this industry, I just don't know how it's gonna look and another
50 years.
Brent Williams 19:05
I do, I do know that some of the recipes will look different. But some of the things
that won't change is, is is needing really smart people, you know, back to that, like
the right teams and the right relationships will still that won't change.
John Conner, Jr. 19:21
Yes, you know, talking about the changes we've had, John Deere has developed a sprayer
that will go through the field at normal speed, and pick out a particular weed you
don't want and spray that one plant and not spray the rest of them. So that technology's
changed so much and it'll be changing more. But that's just one example of a pretty
significant change that we've seen. And so we're gonna see more and more probably
at a more faster clip than we've seen in the past.
Brent Williams 19:56
Yeah, technology right technology is whew, moving really fast, I think particularly
in agriculture, I'd say some of the challenges workforce wise is, you know, having,
having people prepared and able to operate and, and deal with that technology.
John Conner, Jr. 20:15
Yes, yes. And you'll probably wind up having a better trained workforce, in the not
too distant future, to run some of this equipment that you're talking about. Many
of these pieces are coach machinery today are $600 to a million in so you need people
who are more skilled probably to run these machines, and not taking anything away
from people we've had in the past. It's just, they're becoming more and more technical.
Brent Williams 20:51
Yeah. Well, you know, John, kind of kind of wrapping up a little bit. Just kind of
looking back, you know, I mean, any, is, if you were talking to the future entrepreneurs,
which you do, you know, when you're when you're here on campus with us, any advice
for them?
John Conner, Jr. 21:13
Well, there's not anything that takes place hard work. And then probably the other
thing has helped me as much as anything has been persistence. It's, it can't give
up don't met those bankers while ago. If you get a no here, just go across the street.
And til you get a yes, somewhere, may be next town or two towns down or something
you can't give up. Don't ever give up
Brent Williams 21:41
The hard work and persistence.
John Conner, Jr. 21:45
Probably served me fairly well.
Brent Williams 21:46
Yeah, well, I can say that it has. And I can say, as the Walton College one first
we're really proud of the career that you've had, the companies you've built. And
we're thankful you're an alum, and that you've stayed engaged. So thank you for serving
on the Dean's Executive Advisory Board. I appreciate that for sure. And then more
broadly, just congratulations on being recognized in this state as one of the leading
business people, you know, throughout its history, I think this year's class will
be the 25th class, inducted into the Arkansas Business Hall of Fame, I think that'll
be in total about 100 people. And to be one of those 100 is, it's truly quite an honor
so congratulations.
John Conner, Jr. 22:40
Well, thank you, Brent. And I do feel very honored. And it's just a big honor for
myself as well as my family and, and it's probably more recognition then we're due
or entitled to. We just been hard working people and tried to do the things we thought
were right for our family and our community and our employees and our team and our
associates. And that's what we want to do and moving forward and have a good, strong
organization.
Brent Williams 23:08
Well you certainly made a big impact on this state, this university. Look forward
to seeing everybody on February 16.
John Conner, Jr. 23:17
We're looking forward to it will be there.
Brent Williams 23:19
Thanks, John.
John Conner, Jr. 23:19
Thank you, Brent.
Brent Williams 23:22
On behalf of the Walton College thank you for joining us for this captivating conversation.
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