[Congressional Record (Bound Edition), Volume 151 (2005), Part 13]
[Senate]
[Page 18153]
[From the U.S. Government Publishing Office, www.gpo.gov]




                     TRIBUTE TO JACKSON T. STEPHENS

 Mr. PRYOR. Mr. President, today I wish to pay tribute to a 
legendary Arkansan. Jackson ``Jack'' Stephens was a businessman, 
financier, and philanthropist whose work has touched the lives of 
countless individuals in and outside of Arkansas, and his contributions 
to the state will live on for generations to come.
  Described by Scott Ford, CEO of Alltel Corporation, as ``the most 
brilliant businessperson that the state has ever produced,'' Jack 
Stephens has many accomplishments and accolades to his credit. Jack 
grew up on a farm in Grant County, AR. He attended the U.S. Naval 
Academy, and soon thereafter he joined his brother Witt's investment 
firm, which became the financial vehicle for his success over the 
years. Jack's good business instincts and fabled work ethic led 
Stephens, Inc. to the forefront of Arkansas business. The financial 
clout that the Stephens brothers were able to amass allowed Jack to 
play an essential role in the development of some of Arkansas' most 
successful businesses, including Wal-Mart, Tyson Foods, and Alltel 
Corporation. The Stephens name is virtually inseparable from economic 
development in Arkansas over the last half century, and rightfully so.
  Jack Stephens was also a philanthropist who truly believed in the 
values of charity and community service. His love for the people of 
Arkansas led him to invest not only in for-profit ventures to 
contribute to our State's economic well-being but also in many 
nonprofit causes for the benefit of the people of Arkansas. He helped 
build the distinguished Jackson T. Stephens Spine and Neurosciences 
Institute at the University of Arkansas for Medical Sciences. Jack's 
support of the arts, health and education also made a notable 
difference in lives of so many Arkansans.
  Perhaps one of the best known causes that Jack promoted was related 
to one of his lifetime passions: golf. In 1991 Jack was chosen to be 
chairman of the Augusta National Golf Club, home of the Masters 
tournament, where he served until 1997. It is here that Jack developed 
the idea of extending his favorite pastime to underprivileged youths. 
Thanks to his generous support, the First Tee program, with locations 
in Little Rock and Fort Smith, promotes, character development and 
life-enhancing values through the game of golf.
  Jack Stephens' giving spirit will live on in the many institutions he 
has supported over the years, and his legacy will continue to influence 
the State of Arkansas for a long time to come. I join all Arkansans in 
giving thanks for the life of a pioneer businessman and an eternal 
friend of his fellowman.

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