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Transcription

APRIL 22, 2011
VOL. 28 NO. 17 $2.00
INDUSTRY INSIGHTS
Which sectors will help
Alabama’s economy
take flight? Page 9
GIVING BACK
Charles Collat says
philanthropy is a
must. Page 23
BREAKING
NEWS DAILY:
Subscribe for free
daily e-mail updates
@ www.bbj.com
CHANGE OF PACE
Kate Darden’s past
helps her as an
entrepreneur. Page 7
FAILURES ROCK BIRMINGHAM’S BANKING LANDSCAPE
Nexity’s new owner
to expand nationally
Superior’s failure
changes bank scene
BY ANTRENISE COLE | STAFF
AloStar execs to keep bank’s headquarters in Birmingham
ON THE MOVE
Ralph Cook was
selected as chair
of the Museum of
Art. Page 22
The finance executives of AloStar
Bank of Commerce, the newly Alabamachartered institution that acquired
Nexity Bank, have big plans to grow
the bank into a nationally recognized
brand.
AloStar Bank of Commerce entered
When Birmingham lost three of its independent powerhouse
banks to mergers, Superior Bank rose to the occasion.
The scrappy $3 billion financial institution became the
second-largest Birmingham-based bank after the merger dust
settled, and it held that spot until sour real estate loans in the
recession took it down on April 15.
Its failure brings a new group of bank leaders to Birmingham
– and has some questioning Birmingham’s future as a banking
hub.
into an agreement with the FDIC to
assume the deposits of Nexity Bank
after it was seized by regulators on April
15. The FDIC and AloStar entered into
a loss-share transaction on $384.2 million of Nexity Bank’s assets.
AloStar, which will be headquartered
New bankers in town
SEE NEXITY, PAGE 20
INSIDE
BBJ.com . . . . . .
Business Calendar
Business Leads . .
The Lists . . . . . .
On the Move. . . .
Strategies . . . . .
Viewpoint . . . . .
.
.
.
.
.
.
.
... 6
. . . 22
.18-19
.15-17
. . . 22
. . 7-8
. . . 23
THE FOX 6 BIRMINGHAM
BUSINESS JOURNAL REPORT
EVERY WEEKNIGHT AT 9:45 P.M.
AND FRIDAYS AT 7:20 A.M.
BOB FARLEY | F8PHOTO.ORG
Please recycle your BBJ
Superior Bank was acquired by Houston-based Community
Bancorp LLC, which created a subsidiary known as Superior
Bank N.A. to assume all of the deposits and substantially all the
assets of the failed Magic City thrift.
Superior N.A.
entered into an 80
percent loss-share
NEW FACE IN TOWN
agreement with
the FDIC with
respect to certain
assets. Included
in the deal are
Doug Hutt
73 branches in
Alabama
and
President and CEO of
Florida; six mortSuperior Bank N.A.
gage offices in
Alabama, Florida
Experience: Previously served as president of Compass
and Tennessee;
Bank in Texas and a group executive for Compass Bank. He
and 24 consumer
also served as president of Bank of America in Dallas.
finance offices.
Among the former Superior’s top
executives, CEO Marvin Scott, President Rick Gardner and
Chief Financial Officer Jim White are gone.
Community Bancorp’s Doug Hutt is moving from Houston
to serve as president and CEO of Superior in Birmingham, and
Community Bancorp’s CEO Paul Murphy Jr. will serve as board
chairman for Superior Bank N.A.
Michael Gillfillan is a new face on Birmingham’s banking scene. He is now CEO of AloStar
Bank of Commerce, which bought the assets of Nexity Bank after it failed April 15.
SEE SUPERIOR, PAGE 20
Alabama women still make $10K less than male counterparts
BY BEN PIPER | STAFF
SEE WOMEN, PAGE 21
WEAKER WAGES
Gap between the average wage for men and women in Southeastern states
NC
TN
$7,783
$8,287
AR
$7,825
MS
AL
$9,022 $10,673
SC
GA
$8,638
$9,002
$14,824
LA
FL
$7,013
SOURCE: National Partnership for Women & Families
DEREK MORROW | STAFF
Women working full-time in Alabama
are paid an average of $10,673 less than
their male counterparts a year – and the
gap costs Alabama’s families a total of more
than $5.9 billion a year, a recent study
shows.
Alabama lags behind most of its
Southeastern counterparts in terms of the
wage gap, according to research conducted
by the National Partnership for Women &
Families and the American Association of
University Women.
Women in Alabama made a median salary of $30,658 in 2010, compared to a man’s
salary of $41,331.
Only Louisiana surpasses Alabama
with a wider gap of $14,820 between men
and women workers. Neighboring states
reported lower wage gaps, including
Mississippi ($9,022), Tennessee ($8,287),
Georgia ($9,002) and Florida ($7,013).
Every state has a gender-based wage
gap, with women nationally who work fulltime getting paid an average of 77 cents for
every dollar paid to full-time working men,
the report said. The gap has been closing
at a rate of less than half a cent per year
since the passage of the 1963 Equal Pay
Act, which at that pace would show equal
pay in 2058, the report’s authors said.
2 BIRMINGHAM BUSINESS JOURNAL
INDEX
www.bbj.com | APRIL 22, 2011
BUSINESS PULSE
GUIDE TO THE BBJ
Does Alabama need a new constitution?
NEWS
Reader comments
5%
“If you force-fed magic mushrooms to Donald Trump, Rachel
Maddow and Charlie Sheen, and locked them in a room with 100
feet of butcher paper and a box of Crayons, they would emerge with
a better functioning state constitution than Alabama has today.”
I’m not sure
12%
TIPS: Do you have a news tip or story idea
for us? Call (205) 322-0000 and ask for the
newsroom or send an e-mail to [email protected]. We always respect
requests for confidentiality.
No
“Refusing to draft a new constitution is tacit admittance that our
state will be stuck in 1901 forever...”
“Who is going to write it? Now, who do you actually trust to
write it?”
Some comments may be edited to correct spelling and grammatical errors.
83%
Yes
Business Pulse is an unscientific Internet poll designed to check the
mood of the community and spur discussion.
VOTE AT www.bbj.com
INDEX
PEOPLE
ABCD
Bank, Cadence. . . . . . . . . . . . . . . . . . . . . . . . . . .20
Darley-Usmar, V. Michael. . . . . . . . . . . . . . . . . .22
MNOP
Dennis, Randy . . . . . . . . . . . . . . . . . . . . . . . . . . .20
McClure, Joseph. . . . . . . . . . . . . . . . . . . . . . . . . . .4
Dobbins, John . . . . . . . . . . . . . . . . . . . . . . . . . . .22
McGhee, Andrew. . . . . . . . . . . . . . . . . . . . . . . . .20
VWXYZ
Murphy, Paul Jr.. . . . . . . . . . . . . . . . . . . . . . . . . . .1
Walker, George . . . . . . . . . . . . . . . . . . . . . . . . . .22
Beagelman, Steve. . . . . . . . . . . . . . . . . . . . . . . . .5
Tomlin, Bill . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .22
FranNet. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .5
Hand Arendall LLC. . . . . . . . . . . . . . . . . . . . . . . .22
Belcher, Rob. . . . . . . . . . . . . . . . . . . . . . . . . . . . .22
EFGH
Perkins, Ron . . . . . . . . . . . . . . . . . . . . . . . . . . . . .22
Walker, Sloan. . . . . . . . . . . . . . . . . . . . . . . . . . . .22
Billings, Todd . . . . . . . . . . . . . . . . . . . . . . . . . . . .22
Gardner, Rick . . . . . . . . . . . . . . . . . . . . . . . . . . . . .1
Pogwizd, Steven M. . . . . . . . . . . . . . . . . . . . . . .22
Warnock, David G.. . . . . . . . . . . . . . . . . . . . . . . .22
Hare Wynn Newell and Newton. . . . . . . . . . . .22
Hoar Construction. . . . . . . . . . . . . . . . . . . . . . . .22
Homewood Chamber of Commerce. . . . . . . . .22
Bird, Jerry . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .5
Gillfillan, Michael . . . . . . . . . . . . . . . . . . . . . 1, 20
Blackman, Brian . . . . . . . . . . . . . . . . . . . . . . . . .22
Harper, Doreen. . . . . . . . . . . . . . . . . . . . . . . . . . .22
Brooks, Robert. . . . . . . . . . . . . . . . . . . . . . . . . . . .4
Harrison, John . . . . . . . . . . . . . . . . . . . . . . . . . . .20
QRSTU
Reynolds, Kim . . . . . . . . . . . . . . . . . . . . . . . . . . .22
Hill, Jeff . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18, 22
Scott, Marvin . . . . . . . . . . . . . . . . . . . . . . . . . . . . .1
Butler, Chris . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .4
Hutt, Doug . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .1
Shoults, Ben. . . . . . . . . . . . . . . . . . . . . . . . . . . . .22
Campbell, Rich. . . . . . . . . . . . . . . . . . . . . . . . . . . .3
Smith, Kathy . . . . . . . . . . . . . . . . . . . . . . . . . . . . .4
Canon, Cheri L.. . . . . . . . . . . . . . . . . . . . . . . . . . .22
IJKL
Stamper, Rachel . . . . . . . . . . . . . . . . . . . . . . . . .22
Clair, Jay St.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .21
Jaquess, Kevin . . . . . . . . . . . . . . . . . . . . . . . . . . . .3
Tate, Benny. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .22
Kottmeyer, John . . . . . . . . . . . . . . . . . . . . . . . . .20
Hoover Area Chamber of Commerce . . . . . . . .22
Watts, Ray L. . . . . . . . . . . . . . . . . . . . . . . . . . . . .22
Broughton, Tom. . . . . . . . . . . . . . . . . . . . . . . . . . .4
Creel, Miles. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .3
Financial Risk Management LLC. . . . . . . . . . . . .4
Thompson, Brian. . . . . . . . . . . . . . . . . . . . . . . . .22
Listen to my Heart
White, Jim . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .1
IJKL
Wolf, Missi . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .5
An Unforgettable Celebration of Music
Littler Mendelson PC . . . . . . . . . . . . . . . . . . . . .21
Yoder, Stephen. . . . . . . . . . . . . . . . . . . . . . . . . . .20
York, Will. . . . . . . . . . . . . . . . . . . . . . . . . . . . 20, 22
COMPANIES
ABCD
MNOP
Medical Properties Trust. . . . . . . . . . . . . 4, 22, 23
National Cooperative Network . . . . . . . . . . . . .22
National Partnership for Women
Alabama Allergy and Asthma Center . . . . . . . .3
& Families. . . . . . . . . . . . . . . . . . . . . . . . . . . . 1, 21
Alabama State Banking Department . . . . . . .20
Nexity Bank . . . . . . . . . . . . . . . . . . . . . . 1, 4, 6, 11
Alabama Women
Nexity Financial Corp.. . . . . . . . . . . . . . . . . . 4, 20
in Business . . . . . . . . . . . . . . . . . . . .1, 3, 8, 11, 12
Operation New Birmingham. . . . . . . . . . . . . . . .4
QRSTU
of Individual Investors . . . . . . . . . . . . . . . . . . . .22
Ram Tool and Supply Co. . . . . . . . . . . . . . . . . . .22
Starring David Friedman
with Rachel F. Hirsch and emcee Keith Cromwell,
along with other special guests from the
Red Mountain Theatre Company family
of University Women . . . . . . . . . . . . . . . . . . . . . .1
American Association
Renaissance Capital LLC. . . . . . . . . . . . . . . . . . . .4
Rives Construction. . . . . . . . . . . . . . . . . . . . . . . . .3
Sain Engineering Associates Inc. . . . . . . . . . . .22
American Marketing Association . . . . . . . . . . .22
To purchase tickets or for more information,
call 205.879.3438 or cjfsbham.org
REPRINTS: Contact Beth Donahue at (205)
443-5627 or [email protected].
BBJ EVENTS
Each year, the Birmingham Business Journal
hosts several events including the Top 40
Under 40 awards, Pacesetters awards, Best
Places to Work awards and many more. For
information about the events or sponsorship opportunities, contact Lauren Looser,
Event Coordinator at (205) 443-5610 or
[email protected]
Find the most complete source of business
leads and research in the Birmingham Business Journal Book of Lists and the Book of
Lists on CD. The Book of Lists contains all the
Top 25 Lists published in the Business Journal throughout the year. To purchase the
Book of Lists, contact Rita Williams at (205)
322-0000 or [email protected].
ADVERTISER SERVICES
ServisFirst Bank. . . . . . . . . . . . . . . . . . . . . 3, 4, 20
The Birmingham Business Journal reaches
the top decision-makers at companies
throughout the metropolitan area. For more
information on how we can help grow your
business, call Claude Dorsey at (205) 4435614.
Small Business Administration. . . . . . . . . . . . .22
BioHorizons Inc.. . . . . . . . . . . . . . . . . . . . . . . . . . .4
SMB Franchise Advisors . . . . . . . . . . . . . . . . . . . .5
Birmingham Business Alliance. . . . . . . . . . . . .22
Society for Marketing
Birmingham Museum of Art. . . . . . . . . . . . 1, 22
Professional Services . . . . . . . . . . . . . . . . . . . . .22
BlueCreek Investment Partners LLC. . . . . . . . . .4
Synergis . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .22
Brookwood Medical Center. . . . . . . . . . 3, 11, 12
Target . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .3
Butler’s Grooming for Men . . . . . . . . . . . . . . . . .4
CapitalSouth Bancorp. . . . . . . . . . . . . . . . . . . . . .4
University of Alabama
at Birmingham . . . . . . . . . . . . . . . .1, 4, 6, 20, 22
Daniel Corp. . . . . . . . . . . . . . . . . . . . . . . . . . . 3, 23
DD&F Consulting Group . . . . . . . . . . . . . . . . . . .20
Doozer Software . . . . . . . . . . . . . . . . . . . . . . . . .22
VWXYZ
Vaco Birmingham . . . . . . . . . . . . . . . . . . . . . . . .22
Veritas Commercial Real Estate . . . . . . . . . . . . .3
Vestavia Hills Chamber of Commerce . . . . . . .22
This performance will benefit low-income elderly and disabled adults
served by CJFS, a 501(c)3 non-profit tax-exempt organization.
$75 of each ticket purchased is tax-deductible.
THE DAILY EDITION: We’ll deliver the very
latest breaking Birmingham business news
right to your desktop every day at 3 p.m.
And it’s free. Register at bbj.com and click on
“E-mail Alerts.”
Samford University. . . . . . . . . . . . . . . . . . . . . . .20
Community Bancorp LLC . . . . . . . . . . . . . . . . . . .1
Reception with David Friedman
and Rachel F. Hirsch follows
SUBSCRIBER SERVICES
TO SUBSCRIBE: Contact Anne Senft at (205)
443-5613 or [email protected]. If you
prefer, go online to www.bbj.com and click
“Contact.” On the site, you can:
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• Change your delivery address.
American Behavioral . . . . . . . . . . . . . . . . . . . . .22
American Institute of Graphic Arts. . . . . . . . . .22
Tuesday, May 10, 2011 | 7:30PM
Tickets $100
Alys Stephens Center
FOR LETTERS TO THE EDITOR OR
CORRECTIONS: Contact Editor Cindy F.
Crawford at [email protected].
BOOK OF LISTS
American Advertising Federation. . . . . . . . . . .22
American Association
David Friedman, critically acclaimed composer and songwriter, has conducted
the music of popular Broadway shows and worked on Disney Animated Musicals
greats such as Beauty and the Beast, Aladdin and Pocohontas.
CALENDAR: Have a business-related event
coming up? The Business Journal prints
at no cost events sponsored by nonprofit
business organizations such as chambers of
commerce and industry groups. Send your
event to Aneesa McMillan at amcmillan@
bizjournals.com.
Joseph McClure Commercial Real Estate. . . . . .4
Yi, Nengjun. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .22
AloStar Bank of Commerce . . . . . . . . . . . . . . .1, 6
Collat Jewish Family Services
ON THE MOVE: Send us news of recent hires,
promotions or employee honors. If you
want to, send it along with a high-resolution
headshot to Managing Editor Ty West at
[email protected].
EFGH
Vestavia Hills Young Professionals . . . . . . . . . .22
Ernst & Young . . . . . . . . . . . . . . . . . . . . . . . . . . .22
Wolf Camera. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .5
Copyright 2011. Birmingham Business Journal (ISSN
08892237) is published weekly, except semi-weekly
the fourth week of December, by Birmingham Business
Journal Inc., 2140 11th Avenue S., Suite 205, Birmingham, AL 35205, a publication of American City Business
Journals Inc., 120 W. Morehead St., Suite 400, Charlotte
NC 28202. Price of a 53-week subscription is $90, plus
applicable sales tax. Periodicals Postage paid at Birmingham, AL 35203.
The newspaper is designed to inform decision-making
managers, executives and investors on the trends,
events and issues important to commerce and industry
in the Birmingham metropolitan area. Birmingham Business Journal is a registered trademark. No part of this
publication may be reproduced without written consent
of the publisher. Editorial, advertising and circulation offices are at the address above.
Nothing contained herein should be construed as a solicitation for the purchase or sale of any securities. Information is gathered from sources considered reliable, but
accuracy cannot be guaranteed.
POSTMASTER: Send address changes to Birmingham
Business Journal, 2140 11th Ave. S., Suite 205, Birmingham AL 35205, or e-mail at birmingham@bizjournals.
com.
APRIL 22, 2011 | www.bbj.com
BIRMINGHAM BUSINESS JOURNAL
Prominent Brookwood area Regions CEO
building to become clinic sees progress
e Dr.
shor
59
Lake
459
Colonial
Brookwood
Village
20
280
459
Jaquess said since he’s had the listing, a law
firm and a developer put purchase contracts
on the building, both of which were eventually dropped, before Alabama Allergy sealed
the deal.
“In that midtown market, there’s not many
sites like that,” said Jaquess. “That building is a
little different. It’s not traditional. But it took a
group who liked what they saw and are willing
to make some modifications.”
And the building also could benefit from
future growth in the area. Up Brookwood
Boulevard, Brookwood Medical Center is
building a $65 million women’s hospital and
expanding its medical campus, and behind it
construction on a new Target store could begin
soon at Colonial Brookwood Village.
Renovation on the building, done by general contractor Rives Construction, will begin
this summer and Alabama Allergy hopes to
be in its new clinic by late fall, said Campbell.
Alabama Allergy also has locations at The
Narrows on U.S. 280 and in Hoover, according
to its website.
Regions Financial Corp. CEO Grayson
Hall said the company is moving in the
right direction in the first quarter, when it
recorded its second consecutive profitable
quarter.
But during the financial giant’s conference
call with investors following its earnings
report this week, Hall said Birmingham’s
only remaining Fortune 500 company still
has work to do.
“From an earnings perspective, we’re
clearly not performing at a level that we
want or need to be, but we are making continuous progress,” Hall said.
The company’s $17 million profit in the
quarter beat expectations of analysts, who
projected a loss for Regions, which recorded a $255 million loss in the first quarter of
2010.
Regions’ balance sheet also improved
during the quarter, as bad loans and net
charge-offs continued to decline.
Here were some of the highlights from
the report:
• Regions’ provision for loan losses was
$482 million, compared to $682 million in
the previous quarter and $770 million in the
first quarter 2010.
• Net charge-offs fell 29 percent to $481
million and its percentage of net chargeoffs declined in the first quarter, as well.
• Regions’ Tier 1 capital ratio was estimated at 12.5 percent, which is up from 11.7
percent during the same period a year ago.
[email protected] | (205) 443-5635
31
New
Alabama Allergy
and Asthma
Center location
Brookwood Medical Center
vd.
d Bl
DEREK MORROW | STAFF
65
oo
okw
Bro
After sitting empty for more than one year in
a prominent spot next to Colonial Brookwood
Village, the former CLA Architecture building
has finally found a new owner.
The 15,000-square-foot building, which is
known for its unique design and location on
concrete “stilts,” sold to a group of investors
that will lease the property to Alabama Allergy
and Asthma Center, said Rich Campbell, the
broker at Veritas Commercial Real Estate who
represented the medical company.
Alabama Allergy will relocate 45 employees
at its Montgomery Highway clinic to 12,000
square feet in the building – gutting and
redoing the entire interior – while its clinical
research company will take the remainder of
the space, he said.
Alabama Allergy referred questions about
the move to Campbell.
“When you have an investment opportunity
with a medical tenant in tow, it really opens
doors as far as financing,” said Campbell. “It
took around a year to get the deal done. But in
this market that’s normal.”
Campbell declined to name the investment
group that bought the building and the purchase price. Birmingham’s ServisFirst was the
lender in the deal.
The initial asking price was $2.1 million two
years ago when Daniel Corp. picked up the
listing on the building, said Kevin Jaquess of
Daniel.
CLA Architecture was housed in the building for many years, but Jaquess said once the
economy fell into a recession, CLA Principal
Miles Creel, who owned the building with an
investment group, decided to retire and close
the business.
after 1Q profit
65
BY LAUREN B. COOPER | STAFF
STAY CONNECTED
in 2011
save the date
MAY
Top 40 Alumni reception
CEO Awards
JUNE
Best Places to Work
JULY
Healthcare Reform Panel
AUGUST
SEPTEMBER
OCTOBER
CFO Awards
Top HR Executive
Green Panel
Business Growth Expo
NOVEMBER
Healthiest Employers
DECEMBER
Book of Lists
MORE EVENT
ANNOUNCEMENTS TO COME!
For details and more information,
visit www.BBJ.com
3
4
IPOs up 10 percent nationally, but still slow in Birmingham
The Magic City hasn’t
had a company go
public since 2005
The initial public offering market has
increased across the country 10 percent so
far in 2011, but Birmingham hasn’t had a
new public company since 2005.
Several Magic City firms have flirted with
the idea of going public in 2010 and early
2011, including biotech firm BioHorizons
Inc., which delayed its IPO in February amid
less than promising market conditions.
Experts say the slow economy, looming banking regulations, a litigious atmosphere and continued financial problems
in Jefferson County have scared many
Birmingham area companies away from
jumping into the public waters.
“The fact Jefferson County has not
resolved its debt on water and sewer, if I was
a large public company, that uncertainty
is not good for development,” said Robert
Brooks, Wallace D. Malone Jr. endowed chair
of Financial Management at The University
of Alabama.
Birmingham hasn’t had a strong retention
rate for public firms in the last several years.
Of the three Birmingham firms that filed
IPOs in 2005 – CapitalSouth Bancorp, Nexity
Financial Corp. and Medical Properties Trust
– only one still participates in public trading.
The economy was markedly better
then. However, Kathy Smith, principal of
Renaissance Capital LLC, an IPO investment
firm based out of Greenwich, Conn., said the
IPO market nationally is running close to 75
percent retention of pre-recession levels.
“(The national IPO market) is in a much
better place than it was,” she said. “The IPO
market is quite improved from 2008 and
2009, but not just any company can enter
into it and make money.”
Renaissance Capital reported this week
that the number of IPOs filed nationally is
up roughly 10 percent so far in 2011, compared to the same time last year, and the
technology sector is leading the way. And
the companies going public are seeing large
improvements in how much capital is raised
compared to 2010. The proceeds raised from
IPOs in 2011 have improved more than 240
percent compared to 2010, the report said.
“Anyone who is a private company earning
money and growing should be looking to the
IPO market for a more friendly atmosphere,”
Smith said.
Smith said Birmingham has been known
as a breeding ground for publicly traded
financial institutions in the past. But recent
banking regulations and turmoil has tempered enthusiasm for financial institutions
LAST LOCAL IPOS
Most recent local companies to complete an IPO
CAPITALSOUTH BANCORP* - December 2005
NEXITY FINANCIAL CORP.* - September 2005
MEDICAL PROPERTIES TRUST - July 2005
INFINITY PROPERTY AND CASUALTY CORP. - February 2003
* Stocks that are no longer active
SOURCE: SEC filings
adding downward pressure locally, she said.
ServisFirst Bank, a public but non-traded
entity based in Birmingham, has discussed
filing an IPO in the past, said CEO Tom
Broughton. The company even has a Nasdaq
symbol reserved for when the time is right,
he said.
Broughton said Alabama has had one
inhibitor for public companies in terms
of perception – relatively slow population
growth – but that is no longer a priority for
public companies.
“For a long time, we were left behind,” he
said. “Florida or Georgia would be hot, and
Alabama was on the back burner (because
of population growth). But I think from a
banking standpoint, the state is a lot more
attractive than it was in years past.”
State taxes allow for public companies
to operate without much stress, Broughton
said. He said national regulatory compliance
usually adds $500,000 to $1 million to operating costs, so public companies would want
an average to below average tax cost state.
But litigation history and recent Jefferson
County financial troubles could be deterring public companies from relocating
to Alabama or current private companies from going public, according to UA’s
Brooks. Brooks also is the founding partner
of BlueCreek Investment Partners LLC, a
money management firm, and president of
Financial Risk Management LLC. He said
risk of litigation is a major concern to corporations in terms of expansion and location
in Alabama.
“Historically, Alabama has been a little
tough on the corporate side in some cases,”
he said.
And the state could be missing out on millions of dollars in economic development
and job creation by not promoting a less
litigious atmosphere for corporations and
resolving its financial situation at the county
level, Brooks said. He said new public companies would definitely spur the economy
locally and across the state.
“It certainly matters,” he said. “The regulatory burden for public companies is a deterrent for expansion, but when you’re public,
you can raise more funds, expand and create
more jobs.”
ONB: Birmingham’s downtown dwellers want more than a grocery store
BY LAUREN B. COOPER | STAFF
While a grocery store for downtown
Birmingham has always been a top request
among residents, the need for other retail
services is gaining momentum.
A survey recently conducted by
Operation New Birmingham of about 200
Samford Business Network Birmingham
Quarterly Meeting and Breakfast
May 4, 2011
with
Teresa S. Polley
President & CEO, Financial Accounting Foundation
FREE EVENT Reservations required
WHEN: May 4, 2011 | 7:00 a.m.
WHERE: Sheraton Birmingham East Ballroom A
2101 Richard Arrington Jr. Blvd N
Birmingham, AL 35203
Contact: 205-726-2364
Register: www.samford.edu/business
Teresa S. Polley currently serves as President and Chief Executive Officer of the Financial Accounting Foundation (FAF) located in Norwalk, Connecticut. FAF has administrative and financial oversight responsibilities for both the Financial Accounting Standards Board
(FASB) and the Governmental Accounting Standards Board (GASB). Those boards have the responsibility of promulgating financial
reporting standards for all US private, non-governmental entities and for local and state governments, respectively. Her current professional role puts Ms. Polley in a position to be directly involved in issues that determine financial reporting requirements for businesses
and governmental organizations world-wide on a daily basis, a critical role in today’s turbulent economic circumstances.
Ms. Polley brings 20 years of experience with the FAF and the FASB to her current position. Prior to joining those organizations, Ms.
Polley was a practicing CPA, serving on the professional staff of a large international financial services organization.
Samford University is an Equal Opportunity Educational Institution/Employer.
downtown loft residents showed 13 percent of those surveyed specifically want
more grocery offerings.
But ahead of that were preferences for
drug stores and pharmacies (18 percent),
clothing stores (18 percent), convenience
stores (17 percent) and book and magazine
stores (13 percent).
Retail services, such as restaurants,
clothing, books and magazines, are slowly coming back downtown, leaving residents wanting more, said Aimee Scottland,
development information specialist for
ONB.
“The independent business owners, like
Sojourns (a fair-trade art and crafts store),
are unique to the area,” she said. “I think
that adds to the charm and offers amenities for nearby residents. And those businesses are doing well.”
Downtown business owner Chris Butler,
who runs Butler’s Grooming for Men on
Second Avenue North with his wife Leigh
Butler, said he has cultivated a vast and
wide range of clients that work and live
in downtown Birmingham since opening
in June 2009 – clients that could support
additional retail
services.
‘WE GET 15 TO 20
“This is a new
calls a week from
concept for men
and it worked very
people who want
well in other cities,” said Butler. to open a retail shop,
“It’s an affordable
a restaurant or a
luxury. We are very
night club,
sensitive to our client base and what
but financing is
they can spend.
difficult.’
And we have done
well to date.”
Joseph McClure
That’s
why
Joseph McClure Commercial
Butler
believes
Real Estate
businesses
like
clothing stores, a
book store, drug stores and even the longhoped-for grocery store would do well in
downtown Birmingham.
But it’s difficult to get financing to open
LOFT DISTRICT’S MOST WANTED
What residents said they would prefer more of in the district
Drug store - 18%
Convenience store - 17%
Clothing store - 18%
Grocery store - 13%
Book stores - 13%
SOURCE: Operation New Birmingham
up new retail and many small businesses
feel there’s no support from the city of
Birmingham, which focuses its efforts on
larger projects like a new Westin hotel or a
baseball stadium, said Joseph McClure of
Joseph McClure Commercial Real Estate.
“We get 15 to 20 calls a week from people
who want to open a retail shop, a restaurant or a night club, but financing is difficult,” he said. “We’ve got a tremendous
amount of interest, but just no support.”
There is hope for a new grocery in downtown Birmingham – V. Richard’s has said it
will open a market and café in the redeveloped Pizitz building on Second Avenue
North. But the major $60 million revitalization project hit a snag earlier this year
when the anchor office tenant backed out.
A new main tenant is being sought to
complete the financing and kick off construction.
5
Blast900 considering Mountain Brook for fitness studio
A fitness studio firm based in Atlanta hopes
to expand into Alabama with its sights on the
affluent Mountain Brook area.
Blast900, a fitness studio with two Atlanta
locations, has plans for expansion across the
Southeast and has started researching 22 markets, including Mountain Brook, for its first
franchise opportunity.
Missi Wolf, president of Blast900, started the
business in 2008 after she lost roughly 100
pounds at various gyms and became intrigued
with how the body works.
Wolf said Birmingham’s proximity to Atlanta
is its biggest draw for the first franchise of
this business. She said a regional growth plan
would make the most business sense.
“What we have found with our type of studio
is that we’re a niche type studio, so we could
really only support one in Birmingham,” she
said. “It just takes a certain type of neighborhood with people who are into fitness and
want to push themselves with this kind of
fitness.”
Wolf is seeking a silent partner in
Birmingham to hire instructors or a franchisee
who would serve as a day-to-day manager, so
the new location could mean as many as 15
jobs for the Birmingham area. Investment in
the fitness studio is likely to be in the $125,000
to $135,000 range. A franchisee will also be
required to put 8 percent of revenues toward
royalties and another 1 percent toward local
advertising.
Wolf did not want to disclose the annual
revenues of the existing business, but the company’s website shows that classes typically cost
$25 each with 11 classes per day at each of the
two locations with as many as 24 participants
per class.
Jerry Bird, a franchise consultant with
FranNet, said there is likely to be room for
another franchise gym or fitness firm in
Birmingham as long as the concept is original
and catches on locally.
“Exercise, fitness and health
have been very popular the
past four or five years,” he said.
“Curves started the whole thing
and it exploded, but it’s been a
neat industry going there.”
Steve Beagelman, founder
of SMB Franchise Advisors in Wolf
Pennsylvania, said Blast900’s
regional growth plan is a common plan for a new company looking to franchise. He said the low- to mid-level investment
franchises that call for less than $300,000 to
be invested have been a more popular invest-
ment in recent years and gym memberships
haven’t seen a large hit from the recession.
“Although more people are unemployed,
they have more time on their hands,” he said.
“And if you can use a monthly membership,
then the values are really very good. Gyms are
continuing to do pretty well even in the tough
economy.”
Wolf will also be able to draw from a deep
well of experience in the franchise world from
her husband, Tom, founder of Wolf Camera,
which had more than 1,000 locations under
his helm.
“I live with the consummate businessman,
and he has really helped me get this business
off the ground,” she said. “He’s very good about
letting me run the company, but still letting me
come to him and bounce ideas off of him.”
CREATING A LEGACY
“Clients get excited when they open
an Advised Fund at the Community
Foundation or when they name
the Community Foundation as a
beneficiary to an IRA, because they
know their hard-earned money will
go to a good cause and not for taxes.”
–HUGH SMITH, CPA, CFP ®, CFA
Member & Chief Investment Officer
The Welch Group
Hugh Smith knows first-hand the power of creating a legacy
through an Advised Fund at a community foundation. The
fund keeps his late brother’s memory alive for family and
friends, making grants to support causes he cared about.
Hugh’s clients trust him to help them do all they can to
achieve financial security. And he trusts the Community
Foundation to provide a way for his clients to do good for the
community while following a great tax reduction strategy.
Hugh Smith is one of many professionals serving clients who
care about giving back in significant ways to our community.
Ask your professional advisor how you can leverage your gift
today or your bequest in the future as a partner with the
Community Foundation of Greater Birmingham. Or call
Erin Stephenson at 327-3805 to find out more about
working together to drive positive change, achieve
measurable results and improve the life of our region.
At the heart of community. Giving to the future.
2100 First Avenue North, Suite 700 s Birmingham, AL 35203
www.foundationbirmingham.org s 205-327-3805
BBJ.com
6
THE BIRMINGHAM BUSINESS JOURNAL ONLINE
Most read on the Web
This week’s top stories from BBJ.com
1 Behind Superior Bank’s failure
2 Who is AloStar Bank of Commerce?
3 Superior Bank closed by regulators
4 NaphCare shifts 100 employees, HQ to Vestavia
5 Looking ahead to Regions’1Q earnings
6 Norfolk to break ground on intermodal facility
7 BBVA Compass scouting new HQ locations in Bham
8 A look at Nexity’s failure
9 Auburn University’s new trustees appointed
10 Regions posts 1Q profit
Find these headlines
and more at www.bbj.com
Jefferson County given negative
outlook from Standard & Poor’s
Standard & Poor’s Rating Services has
revised its rating outlook on Jefferson
County to negative from developing.
The revision was prompted by ongoing
concerns over the county’s finances, particularly a court’s recent decision to declare
the county’s occupational tax unconstitutional.
“Recent events have created another
layer of financial stress specifically related
to the county’s general operating fund,” a
Standard Poor’s release said. “The recent
decision by the Supreme Court of the state
of Alabama invalidating the county’s occupational tax and business license effectively
strips the county of about 30 percent of its
annual general fund revenues.”
In addition to the loss of revenue from
the occupational tax decision, the county
is also struggling with a $3.2 billion sewer
debt, which a court-appointed receiver is
trying to solve.
S&P gave Jefferson County a negative outlook
due to the sewer debt and revenue uncertainty.
James Breeding, a credit analyst with
S&P, said the ratings service no longer sees
potential to raise the rating within the next
two years.
Alabama adds construction jobs in March
State jobless rate falls to 9.2%
Alabama added 2,300 construction jobs
in March, according to the Associated
General Contractors of America. Using U.S.
Labor Department data, AGC reported that
Alabama had 86,000 construction jobs in
March, up 2.7 percent from February.
Alabama’s jobless rate fell slightly in
March, according to data from the Alabama
Department of Industrial Relations. The
unemployment rate fell to 9.2 percent in
March from 9.3 percent in February.
The Birmingham-Jefferson Convention
Complex has made Tad Snider its permanent
executive director. Snider has served as the
interim director of the BJCC for the past five
months, after the retirement of Jack Fields.
Scrushy’s latest appeal rejected
Former HealthSouth Corp. CEO Richard
Scrushy’s civil appeal process came to a halt on
April 15. The Alabama Supreme Court said it
will not rehear Scrushy’s appeal in a civil judgment that named him the “CEO of the fraud” at
HealthSouth.
Alabama not a leader for credit scores
Consumer debt is decreasing nationally, but
Alabama is one of nine states where average
residents have fair to poor credit scores,
according to a report from CreditKarma.
com. The consumer credit advocate score
said the average credit score in
Alabama, as well as several
of its Southeastern
neighbors, continues to
remain below 650.
Smaller tax refunds in 2011
Americans
probably
shouldn’t count on a larger
tax refund than they got last
year, according to data from the
Internal Revenue Service. The
size of the average income tax
refund sent to U.S. taxpayers this
year is down 1.5 percent from last
year. The average refund for the 2010 tax
year is $2,895 compared to $2,940 in 2009.
WATCH US at 9:45 p.m. weeknights
on Fox 6 and on Good Day Alabama
at 7:20 a.m. every Friday.
LISTEN TO US during Magic City
Marketplace on 90.3 WBHM
Mondays at 6:35 & 8:35 a.m.
STAY TUNED on the Web at www.
myfoxal.com
every
Thursday
afternoon at 1 p.m. to hear about top
business issues in Birmingham and
around the state.
JeffCo sewer receiver expects
painful process
“Sad, poor management by a
billion-dollar corporation.”
B.L. Harbert International said it will build
a new campus on Lakeshore Parkway for its
international operations. The Birminghambased general contractor said the new 12-acre
international operations campus will sit at
the entrance to Lakeshore Crossings business
park on London Parkway.
The Sanders Trust said it entered into a $250
million joint venture with a private equity firm
to fund its future real estate acquisitions. The
Birmingham-based company partnered with
Harrison Street Real Estate Capital, based in
Chicago, to expand its capital-raising capacity
and financing flexibility, said a news release.
From BBJ.com
Superior Bank closed by
regulators
B.L. Harbert building new campus
Snider named BJCC director
WHAT ARE YOU SAYING?
“It’s time to take action against
this nonsense. I want the right to
put in a septic tank and I refuse
to pay non-user fees. Why do the
people of the county have to pay
for this debacle?”
THIS WEEK’S BREAKING NEWS ON BBJ.COM
Sanders Trust enters $250M joint venture
Yogurt Mountain expands in Opelika
Yogurt Mountain LLC has opened a new
location in Opelika. The rapidly expanding Birmingham-based chain now has 23
locations in Alabama, Arkansas, Florida,
Indiana, Georgia, North Carolina, Ohio,
South Carolina, Tennessee and Texas.
TicketBiscuit acquires Dais Limited
TicketBiscuit LLC has acquired a ticketing company out of Oregon for an undisclosed price, according to a release from the
company. The Birmingham-based software
provider for online tickets purchased Dais
Limited, a Portland-based private-label
ticketing company.
Foreclosures fall in Birmingham
The number of foreclosures in
Birmingham and in Alabama declined in
the first quarter, according to RealtyTrac.
The number of foreclosures fell 18 percent
in Birmingham and 14 percent in Alabama
compared to the same quarter in 2010.
Commercial construction picks up in Feb.
Commercial construction prospects are
looking up around Alabama. McGrawHill Construction reported contracts for
future commercial construction rose 311
percent to $80.6 million in February in the
Birmingham area, compared to $19.6 million in the same month last year.
BIZTALK BIRMINGHAM
From the Blog
John Young, the
court-appointed
receiver of Jefferson
County’s sewer
system, says
getting
the
county out of
its $3.2 billion
sewer
debt
Ben Piper
won’t be an
Health care and Technology
easy process for
any of the parties involved.
“There will be pain felt by everyone. My
job is to minimize that pain,” Young told the
Birmingham Kiwanis Club on April 19.
Young says the report on bringing the county out from under its sewer debt will be ready
in six weeks. The report will give residents and
business owners some clear answers about
sewer rate increases and non-user fees that
are likely in the pipeline.
During his speech, Young outlined the
county’s sewer debt, the possibility of bankruptcy and the future for consumers.
He said the goal of resolving the debt
starts with negotiating down the $3.2 billion
amount with creditors.
“The debt is going to be addressed through
our negotiations,” he said. “And those are difficult on both sides.”
Once negotiations wrap up in May, Young
said the county’s sewer system needs to
become a newly incorporated entity and
taken to market for investors to boost with
capital, which would require legislation.
MORNINGCALL
Top business headlines from across Alabama
• Former Taylor Bean exec convicted
• Auburn’s new trustees appointed
Sign up for our DailyUpdate
Emails and get breaking news in
your inbox every afternoon.
• AloStar Bank enters Birmingham
market
Sign up for our Morning Call
Emails and get the latest in
business news from around the
State first thing every morning.
• Former UA president dies
Go to bbj.com to sign up today!
• BAE systems to work on Austal ships
• Huntsville loft project gets OK
IDEAS FOR GROWING YOUR BUSINESS
Strategies
Shifting gears
Experienced workers find new careers,
opportunities in recession’s wake
W
hen a corporate restructuring left Kate Darden
searching for a new job opportunity, she didn’t let
her years of experience go to waste.
But instead of searching for a similar job to the one she
had before, she used her skills to become an entrepreneur.
Darden handled advertising support for seven national
sales offices during 15 years at Southern Progress, and that
experience came in handy when she cofounded branding
firm Darden | Tatum with former Southern Progress coworkers Travis and Wendy Tatum.
“We wanted to take the best of what we learned to
launch a boutique shop where our sweet spot would be
branding,” she said.
Darden’s story is one that’s becoming common after
the recession that left many experienced employees
looking for new jobs and new careers following layoffs,
downsizing and a poor economic climate.
Many have used talents gained in previous jobs, but
others have shifted gears completely.
When Darden decided to become an entrepreneur,
she relied on her networking skills and previous advertising and sales background to produce business for the
startup branding firm.
Darden said her only preparation was some light consulting work to experiment with her ability to brand. Her
consulting work led to new business for her startup, and
she said she decided then to never look back.
While she formerly worked with much larger companies and clients at Southern Progress, she said the ability
to work with small businesses locally has shown her a
new side to branding and marketing.
Richard Wallace, managing director at executive
coaching and consulting firm Organizational Success
Management, said new employees coming off a career
change provide a fresh look at existing problems faced
Kate Darden used her experience from Southern Progress to cofound a new branding firm.
by a company.
Wallace said having employees with an open mind to
how multiple industries operate will offer the ability to solve problems more efficiently.
“It’s all about having a process or methodology to analyzing the situation,” he said. “Don’t make assumptions that what you are dealing
with is exactly like something else. When you work in multiple industries and drill down into it, you find that elements and components
are different, and it helps you come to a better decision.”
Wallace said businesses should leverage the experience and new skill sets brought in by employees from other industries, because
those new perspectives can have a positive impact on the company.
“Every time you change companies or change industries, it starts
opening your eyes because you’re out of your comfort zone,” he said.
“When you’re out of your comfort zone, it helps you find problems to
tackle and new challenges to take on.”
While Darden and the Tatums drew on their past experience, another
former Southern Progress employee, Beth Flowers, drew on her passions when she was forced to shift gears after her six years at the publisher.
SEE SHIFTING, PAGE 8
‘WE WANTED TO TAKE THE BEST
of what we learned to launch a boutique
shop where our sweet spot would be branding.’
Kate Darden
Darden | Tatum
Kate Darden, right, talks with Jones Valley Urban Farm manager Katie Davis at
the farm about arrangements for the Farmers Market at Pepper Place.
7
STRATEGIES
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What I wish I knew: 10 things
you should know from the start
I
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was working with a long-time client when
he blurted out: “If I had known then what
I know now I would have approached my
job in a different way.”
I asked him to elaborate. He responded
that what has become very clear to him is
that being successful at your profession has
more to do with communicating than the
expertise you possess.
Those are strong words.
This client is a highly educated, technically minded professional working in a large
company. He has been successful by most
standards. We both know that his career
could have gone in a different management
direction a few years ago.
We began to discuss the cold, hard fact
that business success isn’t derived from
working hard and making your boss successful anymore.
That is an old notion that has gone the
way of electric typewriters! With a tighter
job market, if you are hired by a company
then the company is fairly confident of your
knowledge and ability to do the job. What
you need to know is that from here on, it’s
about your ability to communicate with
others and who you know.
If you doubt this statement, just check out
all of the books on communication skills at
your local bookstore. Row after row of books
on communicating your message, communicating with difficult people, communicating with men, communicating with women,
communicating upwards and across the
organization and the list goes on.
THE
IDEA CORNER
DEBORAH B. BOSWELL
Following is a list of tips based on comments I have heard from my seasoned clients regarding what they wish they had
known when they embarked on their career.
• Don’t wait to develop effective communication skills ... start now.
• If you don’t know what you need, ask for
feedback.
• Develop excellent presentation skills.
• Understand your company’s politics.
• Know who holds the power in your
company.
• Get outside of your cube or office ...
spend time developing relationships at
work.
• “Brown nosing” is not as negative as it
sounds ... it’s simply looking for opportunities.
• Be generous.
• Pay attention to your non-verbal communication.
• Go to company gatherings and interact
with the people who attend.
Deborah B. Boswell is president of Professional
Speech Services of Alabama. Reach her at deborah@
deborahboswell.com.
SHIFTING: Professionals should take the time to
find a good fit when searching for a new direction
FROM PAGE 7
After previously working at Intermark
Group and in the pharmaceutical industry, Flowers’ love of food and wine led her
to work for Cooking Light, and those same
interested translate to her new career at
Brownell Travel, where she joined as a
travel adviser two years ago.
Flowers said experiences with customer
service and client interaction carried over
from Cooking Light to Brownell. She said
the clients changed drastically, however,
as she went from dealing with conglomerates like Kraft and General Mills to families or newlyweds looking to get away and
enjoy a vacation.
“The details for clients (in both workplaces) are always critical,” she said.
“Whether it’s seating assignments on
the airplane or where you’ll have your first
meal on your honeymoon, that needs to
be special.”
Names of clients, names of clients’ children, a list of departure dates and a list of
arrival dates from vacations through 2012
sits on Flowers’ desk to keep her orga-
nized for her clients.
She said the organizational skills
learned in marketing instinctively transferred over along with some of the same
challenges.
Flowers has also drawn on the parallels
of technology’s impact on both the publishing and travel agency industry.
Magazines were pushed to find new
revenue streams, and travel advisers were
looking to offer more expertise – even for
the Internet savvy.
“The pendulum is completely swinging
back on travel,” she said.
“Because when you Google search for
a London hotel, you get a billion and a
half responses. Someone has to edit that
down for you when you’re making the
investment of an international or domestic trip.”
For professionals seeking a career
change or forced into a change, Flowers
said the best advice is to stay positive and
take time to find the best fit with a given
skill set.
UPCOMING SPECIAL SECTIONS
April 29 Top 40 Under 40 Alumni
List: Fastest-Growing Companies
May 6 Top Wealth Managers
Lists: Financial Planners, Investment
Brokerage Firms
May 13 Where to Meet, Stay
Lists: Hotels, Meeting & Convention Sites,
Restaurants
May 20 Who’s Who in Law
Lists: Top Attractions, Golf Courses
STATE OF ALABAMA
Industries
State of the state
Alabama’s major industries indicate economic
recovery in jobs and investment
ADO director expects 2011 growth in
automotive and aerospace industries
Seth Hammett was named director of the
Alabama Development Office in January,
replacing Neal Wade.
BBJ: What industries are expected to grow?
Hammett: White-collar jobs, such as
those in corporate headquarters, data centers and research are likely to grow well over
the next few years. Our automotive and
aerospace industries remain strong and are
expanding.
BBJ: How is Alabama positioned to compete for new industry?
Hammett: Alabama is a strong competitor and getting stronger. We are in the process of defining the roles all the state, local
and electric utility representatives play in
economic development so that we can be
even more focused and productive. We also
are working on a strategic plan for economic development so that we not only
work well together, but know what we’re
working toward.
BBJ: What is the state’s biggest challenge and
advantage to growth?
Hammett: It’s always a challenge to
change perceptions. Once we bring a prospect to Alabama so they can see our resources, you can see the light bulb click on. Our
resources are our advantage. Alabama has
room for growth, a superb workforce with
great work ethic, the best training program in the country, well-equipped ports,
interstate highways and reasonably priced
utilities and transportation. It’s a resource
recipe that’s hard to beat.
BBJ: What’s Alabama’s economic outlook?
Hammett: The state’s economy is forecast to pick up steam this year. Economists
at the University of Alabama’s Center for
Business and Economic Research expect
BY ANNA THIBODEAUX | STAFF WRITER
After three challenging years
economically, Alabama is expected to
grow significantly in 2011.
The economy is projected to expand
3.5 percent, according to the University
of Alabama’s Center for Business and
Economic Research. Employment is expected to grow slowly at 0.7 percent.
Large manufacturing and service employers are the projected major growth drivers. They include firms in aerospace and
defense (private and government), automotive, steel, utilities and the state’s major
universities.
Alabama fell into recession almost seven
months after the U.S. and, although the
downturn was more severe, the state’s
recovery has been faster.
“If the state’s economy continues to
improve at the pace expected, tax receipts
could rise 1.2 percent in fiscal year 2011,”
according to CBER. “A stimulus-containing
tax deal will boost the state’s economic
growth even further.”
2010 was a recovery year for the state.
Alabama’s gross domestic product grew
2.2 percent to an estimated $140 billion
with 1.8 million workers.
The Alabama Development
Office reported 351 projects
were announced, with 15,779
new hires and $2.1 billion in industry
investment. Of projects announced, 305
were by existing businesses expanding.
Mobile County had the highest 2010
investments at $514 million, followed by
Montgomery County, $277 million; Morgan
County, $203 million; Madison County,
$166 million; Lee County, $139 million; and
Jefferson County, $112 million.
Foreign investment totaled $1.2 billion in
Alabama. South Korean companies topped
the list of investors at $378 million. Sweden
came in second at $309 million, followed by
Australia at $176 million.
By company, Sweden-based SSAB, a steel
plate manufacturer, made the largest investment at $290 million in Mobile County.
Other major investors included Australiabased Austal, a shipbuilder, at $160 million in Mobile County; Canada-based
IKO Industries at $63 million in Talladega
County; and South Korea-based Hyundai
Motor Manufacturing Alabama LLC at
$50.5 million in Montgomery County.
Anna Thibodeaux is sections coordinator. To reach
her, contact [email protected].
9
Name: Seth Hammett
Title: Director
Organization: Alabama
Development Office
emocrat
Career Highlights: As a Democrat
from Andalusia, Hammett also
ama House
served 32 years in the Alabama
of Representatives, the last 12
years as speaker.
GDP growth of 3.4 percent. That’s better
than the 3.2 percent growth forecasted for
the country.
BBJ: What’s your outlook on Alabama’s
economy in the near future?
Hammett: I’m both optimistic and realistic. Overall, I believe our unemployment
rate will continue to improve. As more
people return to the workforce, spend and
pay taxes, the pressure on state budgets
will ease somewhat – especially for the
Education Trust Fund.
BBJ: Is Alabama’s economic mix changing?
Hammett: I hope our mix is always changing. Like many other states, we’ve learned to
avoid being too dependent upon one or two
industries. Our automotive industry, health
care services and BRAC (military base realignment) – related development will be important ingredients to our economy. Add to that
our sizeable increases in exports, boosted by
automobile production, and the mix looks
well balanced.
Sections Coordinator Anna Thibodeaux conducted this interview. Reach her at athibodeaux@
bizjournals.com or (205) 443-5633.
Check out bbj.com for more comments from
Seth Hammett on economic development.
Agriculture
2011 outlook: Agriculture production is
expected to grow 1.4 percent in 2011,
according to the University of Alabama’s
Center for Business and Economic
Research.
2010 output: Production was flat at $1.9
billion. Crop and animal production
accounted for 64 percent of total output.
The estimated 15,000 workers in this sec-
tor mostly worked in forestry and logging,
fishing, hunting and trapping, and agricultural and forest support activities.
Exports: Production returned to $272
million for the first nine months of 2010
compared to $117 million in the first three
quarters of 2009. The total declined from
$473 million in 2008 to $287 million in
2009.
636M
Pounds of peanuts Alabama produced in
2008, making it the third largest
producer in the nation.
$2.6B
Cash receipts for Alabama chickens in 2008,
the state’s top commodity livestock.
$91M
23M
Amount of the state’s catfish
sales in 2009.
Commercial forest acreage in the state,
ranking it second in the nation.
SOURCE: Alabama Ag in the Classroom
ALABAMA INDUSTRIES
Aerospace/Defense
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2011 outlook: The impact of the 2005 Base
Realignment and Closure, better known as
BRAC, will continue to boost the Huntsville
area’s economy, considered the center of
Alabama’s space and defense cluster. NASA
funding is expected to rise with new missions like helping commercial companies
develop rockets and cargo ships.
2010 output: Alabama got $8.1 billion
in defense contracts, according to the
Economic Development Partnership of
Alabama. BRAC is bringing the first fourstar general and an annual budget of more
than $49 billion to the Redstone Arsenal
and Huntsville area. The economic impact
of BRAC has been described as “enor-
Tom Brinkley
Hardwick Walthall
General Corporate/
Incentives
General Corporate/
Incentives
mous” with 4,600 federal military and civilian jobs at salaries averaging $80,000 and
even more contractor positions expected.
It also is bringing an estimated $450 million in military construction on Redstone
Arsenal. Some NASA initiatives like the
International Space Station were extended
while the Constellation space program was
scuttled.
Exports: $423 million in aerospace equipment and parts.
Sector drivers:
• BRAC
• Raytheon’s $74 million expansion
• Dynetics Inc.’s $52 million expansion
$8.5B
280
U.S. Department of Defense
prime contracts awarded to
Alabama firms as of 2011.
Number of aerospace companies
in Alabama as of 2010.
$1B
1941
Estimated economic impact from
the Marshall Space Flight Center
The year Redstone Arsenal was founded,
initiating the state’s aerospace industry.
SOURCE: Economic Development Partnership of Alabama
Automobiles
Heyward Hosch
Frank McPhillips
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2011 outlook: Production is projected
to grow 19.6 percent for motor vehicle
and parts firms with 1.8 percent growth
in employment, according to UA’s Center
for Business and Economic Research.
Major auto areas include Tuscaloosa,
Montgomery, Jefferson and Chambers
counties.
2010 output: A rebound in the automobile industry helped producers add 400
jobs. Production rose by 10.8 percent to
about $5.5 billion in vehicles and parts,
and 7.8 percent to $2 billion for other
transportation equipment. As of October,
the industry operated at near full capacity, unlike the nation at 63.1 percent.
Exports: Transportation equipment, the
state’s top export, rose 30.4 percent to $3.7
billion in the first nine months of 2010
compared to the same period in 2009.
Sector drivers:
• AJIN USA, makes metal stamping and
robotic welding, $50 million investment
in Chambers County
• Prince Metal Stampings USA’s $25 million expansion in Etowah County
• Brose Tuscaloosa Inc., auto door modules and seat adjusters maker, $26 million
expansion
• Hyundai Motor Manufacturing Alabama
LLC’s $50 million expansion in its auto
assembly and engines plant
711,000
250
Number of cars and light trucks
made in Alabama in 2010.
Number of automobile
suppliers in Alabama.
$4.7B
5th
Value of Alabama-made vehicles exported
in 2010, the state’s top export or
30 percent of total exports.
Alabama’s U.S. ranking
in vehicle production.
ALABAMA INDUSTRIES
Banking
Education
2011 outlook: Exposure of Alabama’s
banking sector to commercial development loans and consumer loans still
poses a major threat and risk for banks,
according to UA’s Center for Business and
Economic Research. Financial services,
including insurance, real estate and leasing, is expected to grow 3.1 percent with a
1.3 percent increase in employment.
the state’s 11 metro areas, Mobile showed
the largest increase in deposits, up 4.1
percent to $5.96 billion as of June 2010,
according to CBER. Financial services
(finance and insurance) grew by 2 percent to $7.4 billion. The growth was mainly driven by higher productivity while
employment fell by 3,000 to 91,100, a 3.2
percent decline.
2011 outlook: Educational services are
projected to grow 3 percent to $544 million, according to UA’s Center for Business
and Economic Research. Employment is
expected to tick up 1.2 percent.
2010 output: Alabama’s FDIC-insured
institutions had $82 billion in deposits,
down 1.6 percent from 2009, according
to the FDIC. The Birmingham metro area
ranked highest in deposits at $28 billion,
up .4 percent from 2009 and representing 33.9 percent of deposits statewide. Of
Sector drivers:
• Federal regulation
• Bank closures in 2009, including
Montgomery-based Colonial BancGroup
Inc., the nation’s sixth largest bank failure.
• Superior Bank and Nexity Bank failures
last week.
Sector drivers:
• Economists estimate the University of
Alabama’s economic impact is nearly $2
billion in Tuscaloosa, providing nearly
10,000 jobs. The university acquired Bryce
Hospital and the 168 surrounding acres
for expansion.
• The University of Alabama at
Birmingham, site of the state’s first medical school, employs more than 16,000
people and has research partnerships
with Southern Research Institute and
other private groups, infusing more than
$225 million into the economy.
• Auburn University employs nearly 5,000
people. A new Auburn Arena has been
completed, and second phase of the
Shelby Center for Engineering Technology
is nearly completed. A new building housing the Office of Information Technology
was under construction in 2010.
• The University of South Alabama ranked
among the top 15 patent-revenue-generating universities in the nation.
2010 output: Educational services grew
3.1 percent to $528 million. It had 20,300
workers with a job gain of 300.
$220B
361
214,900
30,232
Assets of state-chartered
banks in Alabama as of 2010.
Branches closed statewide as a result
of bank failures in 2009.
Alabama employees in educational
services, health care and social
assistance businesses in 2010.
Fall 2010 enrollment at the
University of Alabama.
181
33.9%
800
24,602
Branches established as
a result of mergers.
Percentage of Birmingham metro area
deposits statewide.
Alabama jobs lost in nursing and
residential care facilities in 2010.
Fall 2010 enrollment at
Auburn University.
SOURCE: FDIC
SOURCE: UA Center for Business and Economic Research
Energy
2011 outlook: The energy sector is expected
to grow 2.1 percent to $3.13 billion, according
to UA’s Center for Business and Economic
Research.
2010 output: The sector, which includes utilities, inched up 0.4 percent to $3 billion in 2010.
Sector drivers:
• Alabama is a major producer of energy from
wood resources and has one of the world’s
largest solid biofuel plants.
• The Tennessee Valley Authority’s third nuclear reactor has been reactivated at Brown’s
Ferry after a $2 billion upgrade. The Limestone
County plant, one of the largest electric plants
in the nation, plans to reduce coal use and
increase nuclear power.
CONSUMPTION
Renewable energy use in the U.S. in 2009
9%
Nuclear electric
power
37%
8%
Petroleum
Renewable
21%
Coal
25%
Natural gas
SOURCE: U.S. Energy Information Administration
25%
$3B
Percentage of electricity generated by
nuclear plants in Alabama.
Projected utilities production by
2012 in Alabama.
9
5th
Number of coal-fired generators that TVA
plans to shut down by 2015.
Alabama’s national ranking as a
nuclear power-producing state.
SOURCE: UA Center for Business and Economic Research and U.S. Dept. of Energy
11
!
ALABAMA INDUSTRIES
Health Care
2011 outlook: Growth is projected at 3.8
percent to $10.7 billion in the health care
and social assistance industry, according
Research. Health care services are expected to be a key contributor to the state’s
economic rebound.
2010 output: Health care and social
assistance services had $10.3 billion
output and employed 194,600 workers,
representing 10.3 percent of state nonfarm employment and about 7 percent
of Alabama’s gross domestic product.
Ambulatory health care services gained
2,200, social assistance, 700 jobs, and
physicians’ offices, 300 jobs. Nursing and
Insurance
residential care facilities lost 800 jobs and
hospitals shed 100 jobs.
Sector drivers:
• UAB Hospital completed its $164 million
Women and Infants Center.
• Construction began on the $450 million
Benjamin Russell Hospital for Children in
Birmingham.
• Brookwood Medical Center broke
ground on its $65 million Women’s
Medical Center.
• As of 2010, Medical West, St. Vincent’s,
Brookwood, and Baptist Health System
were all vying to establish free-standing
emergency departments in Hoover.
2011 outlook: Financial activities
(finance, insurance, real estate and rental
and leasing firms) output is expected to
grow 3.1 percent. Employment is expected to rise 1.3 percent to 93,105.
2010 output: The insurance sector grew
about 2 percent to $7.4 billion. The
growth was mainly driven by higher productivity. Employment fell by 3,000 jobs
to 91,100, a 3.2 percent decline. Overall,
finance and insurance employed 68,300,
down 2,500 people in the last 12 months.
According to the Alabama Independent
Agents Association, homeowner’s insurance came in at $1.2 billion and auto
liability, $950 million.
COVERAGE
Top homeowner’s insurance providers based on
market share in Alabama.
26%
29%
State Farm Group
Other
6%
Travelers
Insurance
Group
19%
9%
ALFA
Insurance
Group
11%
Farmers Insurance Group
Allstate Insurance Group
SOURCE: Alabama Independent Agents Association
$11B
1.2%
34,798
$92.5B
Projected output in health care and
social assistance services by 2012.
Projected 2011 employment growth in
educational and health services.
Number of jobs in the insurance industry
in Alabama in 2008, according to the
U.S. Bureau of Labor Statistics.
Total value of insured coastal property in
Alabama in 2007, a 22 percent increase since
2004, according to AIR Worldwide Corp.
85%
219,176
$6.7B
$667
Percentage of service jobs (includes
health care) in the Birmingham area.
Alabama’s projected employment in
educational and health services by 2012.
Amount of direct premiums written by
property and casualty insurance
companies in Alabama in 2009.
Average yearly automobile insurance
expenditure in Alabama in 2010.
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SOURCE: Insurance Information Institute
Manufacturing
2011 outlook: Manufacturing is projected
to grow 6.3 percent to $32 billion, mainly
due to production growth of more than
19 percent in motor vehicle and parts
production, and 8.5 percent for computer
and electronic products. Employment is
expected to remain flat.
2010 output: Manufacturing output
rose 4.2 percent to $30 billion with most
industries posting an increase, including chemicals, 4.7 percent; computer and
electronic products, 9.5 percent; motor
vehicles, body and parts, 10.8 percent
with vehicle production growing much
faster, and other transportation equipment, 7.8 percent.
Exports: In the first three quarters of 2010,
major exports included chemicals, $1.5
billion; machinery, $859 million; paper
and pulp, $721 million, and computer and
electronic products, $543 million.
Sector drivers:
• Shipbuilder Austal USA won a $1.6 billion contract to build the Navy’s new Joint
High Speed Vessel. The company opened
its $81 million modular manufacturing
facility in 2010.
• Raytheon will build a new missile plant
to produce the Standard Missile-3 and
SM-6 on Redstone Arsenal
• Mercedes-Benz production rose 22 percent, also boosting supplier demand.
$2.3B
$1.5B
Paper production in 2010 in Alabama, up
4.7 percent from 2009.
Alabama’s chemicals exports in the first
three quarters of 2010.
$1.6B
$984M
The state’s food products output in 2010.
Rubber and plastics production in
Alabama in 2010.
ALABAMA INDUSTRIES
Mining
2011 outlook: Mining production is
expected to rise by 1.4 percent in 2011,
although employment could decline 0.9
percent. Crude oil prices are projected to
average around $90 per barrel in 2011. The
nationwide demand for coal is expected
to remain steady while wholesale coal
prices may dip 1.2 percent.
2010 output: Mining production
remained relatively flat at $1.1 billion,
including natural resources and mining.
Mining includes coal mining, oil and gas
extraction and mining of metals and nonmetallic minerals such as stone, sand and
gravel. There were 11,700 workers (6,000
in mining) as of October 2010.
Steel
Exports: Mining exports declined from
$1.2 billion in 2008 to $1 billion in 2009.
However 2010 saw a strong recovery, with
exports totaling $1.3 billion for the first
three quarters, an increase of 64.4 percent
over the $793 million for the same period
in 2009.
2011 outlook: Primary and fabricated
metals production is projected to grow
2.4 percent, according to the UA Center
for Business and Economic Research.
Producer-level steel prices are expected
to increase by 2 percent. China exports
dominate the global steel market.
Sector drivers:
• The Little Cedar Creek oil and gas field
near Evergreen is the “hottest” producer
in the state.
• Offshore oil and gas drilling is resuming
after the Deepwater Horizon explosion
and oil spill last year.
• Biofuels is growing such as the Coskata
plant going to Greene County.
2010 output: Production of primary
metals rose 2.4 percent to $1.8 billion
and 2.8 percent to $2.2 billion for fabricated metals.
Exports: Primary metals rose to $536
million in the first three quarters of 2010
compared to the same period in 2009.
Fabricated metals rose to $232 million in
the first nine months of 2010. However,
Chinese and Indian steel imports continued to rise rapidly to the U.S.
Sector drivers:
• Employment is proceeding for
ThyssenKrupp AG’s new steel mills, a $5
billion investment in southern Alabama,
considered the largest private industrial
development in U.S. history. Production
began in fall. Construction employment
is expected to remain above 5,000 for the
next two years.
• SSAB broke ground on its $287 million
expansion in Mobile.
• Aker Solutions completed a $6 million
expansion and created 20 new jobs.
PRODUCTION ACTIVITY
Alabama oil and gas drilling permits
800
700
600
500
400
300
200
100
0
‘01
‘02
‘03
‘04
‘05
‘06
SOURCE: State Oil and Gas Board
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‘07
13
‘08
‘09
‘10
5.1
$514M
ThyssenKrupp’s annual projected metric
tons of carbon and stainless
steel production.
Industrial investment in Mobile County
in 2010, ranking first in the
state for investment.
2010
2,700
Year that ThyssenKrupp started
producing stainless steel and
carbon steel in Alabama.
ThyssenKrupp’s projected total
employment.
SOURCE: UA Center for Business and Economic Research and the Alabama Development Office
ALABAMA INDUSTRIES
Technology/Biotech
2011 outlook: Rising business and consumer
spending is expected to boost computer and
electronics production by 8.5 percent with
little to no change in employment, according
Research. In biotech, growth is projected
in clinical laboratory jobs through 2018.
HudsonAlpha Institute for Biotechnology is
expected to bring 900 new scientists to the
Huntsville area and turn the Rocket City into
a biotech hub.
2010 output: Computer and electronics
output reached $4 billion, up 9.5 percent,
although employment declined 6.2 percent
to 12,100 for the year. Medical research funding continued to be boosted by the American
Recovery and Reinvestment Act in 2009,
reaching a record $485 million that included
$270 million from the National Institutes of
Health.
Exports: Computer and electronic exports
grew 24 percent to $543 million compared to
the same three-quarter period in 2009.
Sector drivers:
• Alabama’s $73 million Robotics Technology
Park is under construction in Decatur.
• HudsonAlpha Institute, a $130 million
biotech campus in Huntsville, is advancing
genetics-based medical research.
• UAB is adding a $48 million medical imaging center, including a 7-Tesla magnetic resonance imaging machine only one of 20 in the
world and 10 in the nation.
Tourism
2011 outlook: Leisure and hospitality
should continue to rebound. Arts and recreation are expected to grow 1.3 percent
while accommodation and food services
could rise 1.5 percent. Employment is
forecasted to increase 1 percent.
2010 output: Leisure and hospitality generated $3.7 billion in accommodation and
food services accounting for 86 percent
of this total. From 2009 to October 2010,
leisure and hospitality employment rose
1,100 workers to 169,700, mostly in food
services and drinking places, according
Research. The sector has been gradually
adding jobs since the recession ended in
mid-June 2009.
Sector drivers:
• Robert Trent Jones Golf Trail drew 541,000
golfers, ranking as the state’s top attraction
with admission.
• Birmingham Botanical Gardens topped the
state’s free attractions with 350,000 visitors.
• Mobile Mardi Gras ranked as the top
festival with 809,528 in attendance.
• Alabama top park destinations include
Gulf Coast beaches, which drew 3.6 million
people, followed by Tannehill Ironworks
Historical State Park’s 505,350 visitors.
• Bryant-Denny Stadium ranked as
Alabama’s top sports destination with
712,747 visitors.
• Riverchase Galleria ranked as the state’s
top shopping destination with 15 million
shoppers.
20
90
21M
$679M
Number of Southern Technology Institute’s anti-cancer drug discoveries.
Number of biotech companies
based or doing business in Alabama.
Estimated number of people who
visited Alabama in 2009.
Amount of state and local tax revenue
generated by travel and tourism
activities in the state in 2009.
900
$450M
$9.3B
5.5%
Number of new scientists HudsonAlpha is
expected to draw to the Huntsville area.
Externally-funded research UAB does
annually, mostly in biosciences.
Estimated total amount travelers spent
in the state in 2010, up 3 percent.
Percentage revenue tourism contributed
to Alabama’s GDP in 2009.
SOURCE: Alabama Development Office
Mauldin & Jenkins
Certified Public Accountants
Helping
SOURCE: Alabama Tourism Department
Transportation
2011 Outlook: The transportation and
warehousing sector is expected to grow
2.8 percent, according to UA’s Center for
Business and Economic Research.
you
2010 output: The sector slipped 1.5 percent to $3.4 billion. Employment stood
at 66,200.
achieve
the
Sector drivers:
• Norfolk Southern Corp.’s $97.5 million
Birmingham Regional Intermodal Facility
is scheduled to start construction in
McCalla in 2011, partially funded by a
stimulus grant as part of the national initiative to expand freight capacity.
• Dollar General’s $60 million distribution
center in Bessemer could create 650 jobs.
quality
of life
you
envision
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• Home Depot added 100 jobs at its JeffMet
McCalla distribution center.
• Birmingham’s Shuttlesworth International
Airport plans $193 million in upgrades to
increase cargo capacity, positioning it as a
leading Southeastern distribution hub. The
upgrade will provide the open ticketing
area with bag screening behind the counter
and a centralized security checkpoint, as
well as more shops and restaurants.
• The Port of Mobile, the 10th largest port
in the nation, added new facilities at Pinto
Island to handle five million tons of steel
slab.
• An access road to the former Stockham
Valves & Fittings site near the Birmingham
airport will make way for Tube Dogs and
Bond Carriers’ distribution businesses.
1,500
5
Miles that Alabama water corridors
connect to inland waterways in 23 states.
Number of interstate highways converging
in Alabama. Completion of I-22 by 2014
will become the sixth interstate.
2,000
84
Miles of railroad track serviced
by five Class I railroads.
Number of public-use airports
in Alabama.
THE LIST: ALABAMA’S LARGEST
EMPLOYERS
Name
15
RANKED BY TOTAL NUMBER OF LOCAL EMPLOYEES
Local employees
Top local executive
Telephone
Web address
Fax
Col. John S. Hamilton, garrison commander
(256) 876-2151
www.garrison.redstone.army.mil
DND
Carol Z. Garrison, president
(205) 934-4636
www.uab.edu
(205) 975-8505
Lt. Gen. Allen G. Peck, commander
(334) 953-5717
www.maxwell.af.mil
DND
Rank
Address
1
2
3
4
5
6
7
U.S. Army/Redstone Arsenal
25,373
3220 Redstone Army, Redstone Arsenal 35803
University of Alabama at Birmingham
18,750
701 20th St. S., Ste. 1070, 35294
Maxwell Airforce Base
12,280
50 S Lemay Plz., Montgomery 36112
State of Alabama
9,500
600 Dexter Ave., 36130
Mobile County School Systems
8,100
1 Magnum Pass, Mobile 36618
The University of Alabama
8,000
Tuscaloosa 35487
NASA/ Marshall Space Flight Center
7,177
MSFC, Huntsville 35812
Robert Bentley, governor
(334) 242-7100
www.alabama.gov
(334) 353-0004
Roy D. Nichols, superintendent
(251) 221-4000
ww.mcpss.com
DND
Robert Witt, president
(205) 348-6010
www.ua.edu
DND
Robert M. Lightfoot, center director
(256) 544-2121
www.nasa.gov
DND
EMPLOYER BREAKDOWN
A breakdown of companies listed by sector
44%
24%
Public entity
Private
32%
Nonprofit
LOCATION
Breakdown of companies listed by location
8
9
10
11
(tie)
13
14
(tie)
16
17
18
19
20
21
22
23
24
(tie)
Anniston Army Depot
6,716
7 Frankford Ave., Anniston 36201
Regions Financial Corp.
6,000
5,750
600 19th St. N., 35203
Auburn University
5,500
107 Samford Hall, Auburn 36849
Mobile Infirmary
5,500
5 Mobile Infirmary Circle, Mobile 36607
Huntsville Hospital
5,126
101 Sivley Rd., Huntsville 35801
Birmingham Board of Education
5,000
2015 Park Pl., 35203
University of South Alabama
5,000
307 North University Blvd #2100, Mobile 36608
City of Birmingham
4,989
710 20th St. N., 35203
Jefferson County Board of Education
4,800
2100 18th St. S., 35209
DCH Regional Medical Center
4,537
809 University Blvd. E., Tuscaloosa 35401
Montgomery Public Schools
4,524
307 S. Decatur St, Montgomery 36104
Baptist Health System Montgomery
4,300
400 Taylor Rd. N., Montgomery 36117
Mercedes-Benz U.S. International Inc.
3,869
1 Mercedes Dr., Vance 35490
The Boeing Co.
3,200
1001 Red Hat Rd., Decatur 35601
Hyundai Motor Manufacturing Alabama LLC
3,171
700 Hyundai Blvd., Montgomery 36105
Huntsville City Schools
3,000
200 White St., Huntsville 35801
Walmart (Mobile)
101 South Beltline Hwy., Mobile 36607
(256) 235-7501
www.anad.army.mil
DND
12%
Tuscaloosa
1900 5th Ave. N., 35203
AT&T Inc.
Col. Timothy Sullivan, commander
3,000
Grayson Hall, president and CEO
(800) 734-4667
www.regions.com
DND
Fred McCallum, president
(205) 714-0992
16%
www.att.com
DND
Mobile
Jay Gogue
(334) 844-4000
www.auburn.edu
DND
Ken Brewington, vice president
(251) 435-2400
www.mobileinfirmary.org
DND
David Spillers, CEO
(256) 265-1000
www.huntsvillehospital.org
DND
Craig Witherspoon, superintendent
(205) 231-4600
www.bhm.k12.al.us
(205) 231-4925
Gordon Moulton, president
(251) 460-6004
www.southalabama.edu
DND
William Bell, mayor
(205) 254-2000
www.ci.bham.al.us
(205) 254-2926
Phil Hammond, superintendent
(205) 379-2010
www.jefcoed.com
(205) 379-2311
Bryan Kindred, president and CEO
(205) 759-7111
www.dchsystem.com
DND
Barbara W. Thompson, superintendent
(334) 223-6700
www.mps.k12.al.us
DND
Russell Tyner, president & CEO
(334) 277-8330
www.baptistfirst.org
DND
Markus Schaefer, president and CEO
(205) 507-2252
www.mbusi.com
DND
Phil Marshall, general manager
(256) 432-1000
www.boeing.com
DND
Ashley Frye, vice president of production
(334) 387-8010
www.hmmausa.com
DND
Ann Roy Moore, superintendent
(256) 428-6800
www.hsv.k12.al.us
DND
N/AV
(251) 471-1105
www.walmart.com
DND
4%
Auburn
20%
Huntsville
4%
Anniston
20%
Montgomery
24%
Birmingham
Source: Economic development
partnership county data reports,
BBJ research, and websites of
companies listed. Addresses are for
Birmingham unless otherwise noted.
N/AV=Information is not available.
Although every effort is made to ensure
accurate lists, omissions and inaccuracies
sometimes occur. Please send notice
of errors to Birmingham Business
Journal, 2140 11th Ave. S., Suite 205,
Birmingham, AL 35205, or send e-mail to
[email protected]. Information
for obtaining commemorative plaques,
reprints or Web permissions can be
obtained from the Business Journal’s
designated partner company, Scoop
ReprintSource at 800.767.3263 or
scoopreprintsource.com. No other
companies offering similar services are
affiliated in any way with the Business
Journal.
16
THE LIST: BIRMINGHAM’S LARGEST
BUSINESS ASSISTANCE RESOURCES
Name
Address
Telephone
Fax
Contact
Title
505 20th St. N. Ste. 200, 35203
(205) 214-8112
Alicia White
Web Address
African American Business Council
www.birminghambusinessalliance.com
Alabama Association of Nonprofits
800 Lakeshore Dr. Ste. 315 35209
www.alabamanonprofits.org
Alabama Department of Environmental Management
110 Vulcan Rd., 35209
www.adem.state.al.us
Alabama Department of Human Resources-Blount County
415 5th Ave. E. Oneonta, 35121
www.dhr.state.al.us
Alabama Department of Human Resources-Jefferson County
1321 5th Ave. S., 35202
www.dhr.state.al.us
Alabama Department of Human Resources-Shelby County
P.O. Box 1096, Columbiana 35051
www.dhr.state.al.us
Alabama Department of Human Resources-St. Clair County
3105 15th Ave. N., Pell City 35125
www.dhr.state.al.us
Alabama Department of Industrial Relations, Employment Services Division
3440 3rd Ave. S., 35222
www.dir.state.al.us/es
Alabama Department of Industrial Relations, Tax Division
3460 3rd Ave. S., 35222
www.dir.state.al.us
Alabama Export Council
950 22nd St. N. Ste. 707, 35203
www.export.gov
Alabama Minority Business Opportunity Center
4715 Alton Ct. 35210
www.mboalabama.org
Alabama Small Business Development Consortium
500 Colonial Dr., Rm. 201 Bidgood, Tuscaloosa
2601 Carson Rd., 35215
www.atn.org
Alabama Technology Network-Corporate Office
500 Beacon Pkwy. W., 35209
www.atn.org
Alabama Women in Business
Chairman
(205) 879-4712
John Stone
(205) 879-4724
President & CEO
(205) 942-6168
Paul Rogers
(205) 941-1603
Environmental manager
(205) 274-5200
Marcia Parker
(205) 625-3095
Director
(205) 918-5100
Amanda Rice
(205) 933-1942
Director
(205) 669-3000
Kim Mashego
(205) 669-3095
Director
(205) 812-2100
Cherri Pilkington
(205) 338-9899
Director
(205) 254-1300
Yvette Wright Fields
(205) 254-1387
Manager
(205) 254-1251
Joe Alverson
(205) 254-1264
Supervisor
(205) 731-1331
Nelda Segars
(205) 731-0076
District executive secretary
(205) 957-9779
Henry A. Turner Jr.
(205) 957-2114
Director
(205) 348-1582
N/AV
(205) 348-6974
www.asbdc.org
Alabama Technology Network-Birmingham Center
(205) 324-2560
1919 Oxmoor Rd., 35209
(205) 856-8000
Alan Hill
(205) 856-8014
Director
(205) 943-4808
W. Michael Bailey
(205) 943-4813
President
(205) 278-9781
Donna Sisson
President
www.albib.org
Alabama Women in Business
1919 Oxmoor Rd., 35209
(205) 278-9781
President
www.albib.org
Alacom Finance
117 Southcrest Dr., Ste. 100, 35209
www.alacom.com
Bessemer Business Incubation System
1020 9th Ave. S.W., Bessemer 35022
www.bessemerincubator.com
Better Business Bureau
1210 20th St. S., 35205
www.birmingham-al.bbb.org
Biotechnology Association of Alabama
1500 1st Ave. N. Unit 4, 35203
www.bioalabama.com
Birmingham Bar Association
www.birminghambar.org
Donna Sisson
2021 2nd Ave. N., 35203
(205) 942-3360
Diane Roehrig
(205) 942-5984
President
(205) 481-2000
Devron Veasley
(205) 481-2100
Business center director
(205) 558-2222
David Smitherman
(205) 558-2239
President
(205) 588-0047
Kathy Nugent
(888) 805-2507
President
(205) 251-8006
John W. Landrum
(205) 251-7193
Executive director
Source: Phone conversations organization representatives and websites of organizations listed.
DND=did not disclose. N/APP=not applicable. Although every effort is made to ensure accurate lists, omissions and inaccuracies sometimes occur. Please send notice of errors to Birmingham Business Journal, 2140 11th Ave. S., Suite 205, Birmingham, AL 35205, or send
e-mail to [email protected]. Information for obtaining commemorative plaques, reprints or Web permissions can be obtained from the Business Journal’s designated partner company, Scoop ReprintSource at 800.767.3263 or scoopreprintsource.com. No other
companies offering similar services are affiliated in any way with the Business Journal.
THE LIST: BIRMINGHAM’S LARGEST
17
BUSINESS ASSISTANCE RESOURCES
Name
Address
Telephone
Fax
Contact
Title
1500 1st Ave. N. Ste B108, 35203
(205) 250-6380
Robert Dickerson Jr.
(205) 250-6384
Executive director
Web Address
Birmingham Business Resource Center
www.mybbrc.biz
Birmingham Construction Industry Authority
3600 4th Ave. S., 35222
(205) 324-6202
Michael Bell
(205) 324-6210
Executive director
(205) 588-1582
Devon Laney
(888) 805-2507
President
www.bcia1.org
Birmingham Venture Club
1500 1st Ave. N. Ste. A112, 35203
www.birminghamventure.com
Central Alabama Women’s Business Center
2 20th St. N., Ste. 830, 35203
(205) 453-0249
Valerie M. Cottingham
(205) 453-0253
Director
www.cawbc.org
Equal Employment Opportunity Commission
1130 22nd St. S., Ste. 2000, 35205
(205) 212-2100
Delner Franklin Thomas
(205) 731-2101
District director
(205) 241-8117
Maria Norena
(205) 241-8157
Chairman
www.eeoc.gov
Hispanic Business Council
505 20th St. N., Ste. 200 Financial Center, 35203
www.birminghambusinessalliance.com
Innovation Depot
1500 1st Ave. N., 35203
(205) 250-8000
Susan W. Matlock
(205) 250-8013
President and CEO
(205) 595-0562
David Flemming
(205) 595-0565
Executive director
www.innovationdepot.net
Main Street Birmingham
1 55th Place, 35232
www.mainstreetbham.org
Occupational Safety & Health Administration
950 22nd St. N., Ste. 1050, 35203
(205) 731-1534
Roberto Sanchez
(205) 731-0504
Birmingham area director
(205) 241-8102
Michael Sznajdeman
(205) 241-8142
President-elect
(205) 251-8139
Charles Ball
(205) 328-3304
Executive director
www.osha.gov
Public Relations Society of America, Alabama Chapter
505 20th St. N., Ste. 200 Financial Center, 35203
www.alabamaprsa.org
Regional Planning Commission of Greater Birmingham
1731 1st Ave. N. Ste. 200, 35205
www.bham.net/brpc
Service Corps of Retired Executives, North Alabama Chapter
1731 1st Ave. N. Ste. 200, 35203
(205) 264-8425
Ernie Haynes
(205) 328-3304
Chairman
www.score.org
South Region Minority Supplier Development Council
4715 Alton Ct., 35210
(205) 957-1883
George Perdue
(205) 957-2114
President
(205) 588-1565
David Gray
(888) 805-2507
Chairman
www.msdc.adaptone.com/srmsdc/
Tech Birmingham
1500 1st Ave. N. Unit 4, 35203
www.techbirmingham.com
U.S. Customs Service
P.O. Box 320127, 35232
(205) 731-1465
David Pond
(205) 731-0776
Port director
(205) 731-1305
Kenneth Stripling
(205) 731-3482
District director
(205) 731-1331
Nelda Segars
(205) 731-0076
Director
(205) 290-7101
Thomas Todt
(205) 290-7404
Director
(205) 934-8560
Robert G. Corley
(205) 934-9896
Executive director
(205) 326-0162
Elaine S. Jackson
(205) 521-6951
President, CEO
www.customs.gov
U.S. Department of Labor-Wage & Hour Division
950 22nd St. N., Ste. 656, 35203
www.dol.gov
U.S. Dept. of Commerce, Birmingham Export Assistance Center
950 22nd St. N., Ste. 707, 35203
www.doc.gov
U.S. Small Business Administration-Alabama District Office
801 Tom Martin Dr., Ste. 201, 35211
www.sba.gov
UAB Center for Urban Affairs
1401 University Blvd., 35294
www.uab.edu/cua
Urban League of Birmingham
1229 3rd Ave. N., 35203
www.birminghamurbanleague.net
Source: Phone conversations organization representatives and websites of organizations listed. DND=did not disclose. N/APP=not applicable. Although every effort is made to ensure accurate lists, omissions and inaccuracies sometimes occur. Please send notice of errors to
Birmingham Business Journal, 2140 11th Ave. S., Suite 205, Birmingham, AL 35205, or send e-mail to [email protected]. Information for obtaining commemorative plaques, reprints or Web permissions can be obtained from the Business Journal’s designated partner
company, Scoop ReprintSource at 800.767.3263 or scoopreprintsource.com. No other companies offering similar services are affiliated in any way with the Business Journal.
BUSINESS
Leads
NEW CORPORATIONS
These are new corporations
registered with the state. They
are listed in alphabetical order
and include the following
information: business name, person applying, address, ZIP code.
This information (plus phone
numbers) is available via e-mail
subscription. Please call (877)
593-4157 for average counts and
cost information.
Jefferson County
101 Scrivener’s Mews LLC, Jill
Boothby, 4 Office Park Circle
Suite 106, Birmingham 35223.
Always in Bloom LLC, Blake
Knight, 8429 Dawson Lane, Dora
35062.
BNB Ventures LLC, Roger Bates,
1689 10th St., Leeds 35094.
Bud’s Independent Auto
Clinic LLC, Stanley Huner,
100 Williamsburg Office Park,
Vestavia Hills 35216.
Celestial Holding LLC, Parvez
Mulji, 1503 Scout Bridge Drive,
Hoover 35244.
Diversified Industries LLC,
Laudan Henderson, 1509 Valley
Place, Homewood 35209.
Energreen Coke LLC, Ahrian
Dudley, 505 20th St. N. Suite
1800, Birmingham 35203.
Flipped Out LLC, Vicki Trotter,
303 Church St., Warrior 35180.
Freedom Fueling Solutinos
LLC, David Abroms, 137 W.
Oxmoor Road Suite 401,
Homewood 35209.
Haggard Management LLC,
Jayn Kushner, 3955 Westminster
Lane, Birmingham 35243.
Hassell-Frie Internet Works
LLC, David Hassell, 2611
Creekview Drive, Hoover 35226.
Illuminare Enterprises
LLC, Jennifer Segers, 4452
Fredericksburg Drive,
Birmingham 35213.
J. Ladden Financial Services
LLC, Paul Rothstein, 2001 Park
Place N. Suite 1400, Birmingham
35203.
Jade Marketing Inc., Lindsay
Schneider, 2820 Columbiana
Road #100, Birmingham 35216.
Larson & McGowin Properties
LLC, Chandlar Graham, 1400
Urban Center Drive Suite 360,
Birmingham 35242.
Loop Concierge LLC, LeAngela
Love, 1205 15th Place S.W.,
Birmingham 35211.
Los Rancheros Mexican Grill
LLC, Victor Olivas, 2463 Palomino
Lane Suite C, Birmingham 35005.
M&A Quickstop Inc., Ahmed
Bhadigia, 5461 Colony Way,
Birmingham 35226.
M&R Acquisitions LLC, Erwin
Raughley Jr., 2301 24th Ave. N.,
Birmingham 35234.
Moquin 2 LLC, David Averyt,
1710 Second Ave. N. Suite 106,
Birmingham 35203.
MorganMains Inc., Van Morgan,
205 20th St. N., Birmingham
35203.
Perfect Operations Inc.,
Srinivas Bandha, 504 Lakeshore
Ridge, Birmingham 35211.
R&J Investors LLC, Patrick
Johnson, 1113 Kay Drive,
Birmingham 35215.
RTR Consulting LLC, Richard
Roth, 3964 River View Drive,
Birmingham 35243.
Sandworks Lawn Care and
Landscaping Inc., Scott
Davidson, 5865 Old Leeds Road,
Birmingham 35210.
Southern Alliance Co. Inc.,
Jason Goins, 7107 Gadsden
Highway, Trussville 35173.
Southern ROC LLC, Bradley
Armstrong, 226 Westcliff Circle,
Birmingham 35226.
topOn LLC, William Northcutt
HOW TO USE THIS SECTION
INDEX
Building Permits. . . . . . . . . . . . . . . . . . 19
Court Judgments . . . . . . . . . . . . . . . . . 18
Lawsuits. . . . . . . . . . . . . . . . . . . . . . . 18
Mechanics’ Liens . . . . . . . . . . . . . . . . . . 19
New Account Licenses. . . . . . . . . . . . . . . 18
New Corporations . . . . . . . . . . . . . . . . . 18
How this section can help you
This popular section of the Birmingham Business
Journal is called Business Leads to reflect its purpose
providing you with essential information you need
to grow your business in an easy-to-read, easy-tounderstand format.
No matter what business you are in, you can gain a
competitive edge by reading Business Leads. Find
new and expanding businesses and new customers.
Find out the area’s commercial and residential hot
spots. Find clues about the financial condition of your
vendors, customers or competitors.
We go to the courthouses, government offices and
state and local Web sites to find this valuable information and pass it along to you.
Contact us
If you have any tips about how we can make Business
Leads better or easier to use, call Editor Cindy F. Crawford at (205) 443-5631 or e-mail to [email protected]. As always, we want to hear your opinions.
Deadline for copy is 10 working days prior to the date
of publication. Information is compiled from government agencies and private sources.
Real Estate Transactions . . . . . . . . . . . . . 19
Tax Liens . . . . . . . . . . . . . . . . . . . . . . 18
Jr., 2517 Shades Crest Road,
Vestavia Hills 35216.
TP Farms LLC, Steven Parsons,
5794 Birmingport Road, Sylvan
Springs 35118.
Two Friendz B1 LLC, Saleem
Noorani, 801 Crown Reserve
Drive, Hoover 35244.
Velocity Interaktive LLC,
Brandon Adams, 3060 Summit
Lane, Fultondale 35068.
War Lake Properties LLC,
Elizabeth Jenkins, 1511 Valley
Place, Birmingham 35209.
Wealth Trust Services LLC,
Richard Howard, 1 Perimeter
Park S. Suite 100, Birmingham
35243.
Shelby County
Fixit LLC, Rick Burch, 4056
Somerset Ridge, Birmingham
35242.
FlowerArt Designs LLC, Geri
Carpri, 1113 Lake Point Court,
Hoover 35244.
Heart of Dixie Lawn & Repair
LLC, Joseph Mangina Jr., 25
Monte Tierra Trail, Alabaster
35007.
High Design By T. LLC, Tricia
Stanfa, 180 Sheffield Lane,
Birmingham 35242.
Planet Direct Sales Inc.,
Kevin Gann, 5101 Cyrus Circle,
Birmingham 35242.
Plumbing Professionals LLC,
Daniel Leonard II, 126 Victory
Trail, Pelham 35124.
Professional Title Services of
AL LLC, Ray D. Gibbons, 100
Corporate Parkway Suite 125,
Birmingham 35242.
Restorative Care Home
Therapy Services LLC, Jack Ellis,
2034 Forest Lakes Lane, Sterrett
35147.
Ryan A. Draiss DMD LLC, Ryan
A. Draiss, 131 Piney Woods Drive,
Helena 35080.
Shirley Worthington LLC,
George Worthington III, 6164
Valley Station Circle, Pelham
35124.
The Oxford Clinic LLC, Robert
Eichelberger, 7500 Hugh Daniel
Drive Suite 150, Birmingham
35242.
Xpert Fitness and Nutrition
Systems LLC, Joel Heath,
118 Lake Heather Reserve,
Birmingham 35242.
NEW ACCOUNT LICENSES
New account licenses are
compiled from applications filed
with the county. Some licenses
are new businesses; others are
renewals that were issued a
new account number due to
ownership change, reorganization, etc. They are listed in
alphabetical order. The following
information is included: business
Around our office, we call Business Leads the record
copy. That’s because all the information included here
is from public record.
name, person applying, address,
ZIP code. This information (plus
phone numbers) is available
via e-mail subscription. Please
call (877) 593-4157 for average
counts and cost information.
Jefferson County
Alicia Ann Makemson, 2101
Magnolia Ave. S. Suite 300,
Birmingham 35205, CPA.
Allstate Tree Service, Michael
Brent Tucker, 140 Harvey Lane,
Sylvan Springs 35118, contractor.
Antonio Auto Repair, Maria
Martinez-Guthierrez, 1017
Gadsden Highway, Birmingham
35235, single store/auto repair
shop.
ARP Repair and Remodeling,
Alan Pickard, 5536 Hunters Hill
Road, Birmingham 35210, contractor.
Auto Craft, Wayne Atkinson,
8204 Sycamore Trail, Trussville
35173, auto repair shop/each
person.
Barbara Sheffield, 4740 12th
Ave. N., Birmingham 35212, peddler/merchant.
Billy Green, 1408 Pinson Valley
Parkway, Birmingham 35217,
peddler/merchant.
BNB Ventures LLC dba Moto
Ace, 1689 10th St., Leeds 35094,
single store/auto accessories/
auto repair shop/each person/
bicycles motorcycles.
Chris Guess, 2101 Magolia Ave.
S. Suite 300, Birmingham 35205,
CPA.
Comb Shears and Beyond
Beauty Parlor, Patrice May, 77
Cedar Lane Suite 105, Trussville
35173, beauty shop.
D and A Drywall, Miguel R.
Araujo, 2802 Potts Hollow Road
Lot 97, Birmingham 35215, contractor.
Darrell’s Roofing, Gary Jones Jr.,
4016 Main St., Adamsville 35005,
contractor.
Denise Ladd, 315 Gamma St.
S., Birmingham 35205, peddler/
merchant.
Diversified Commercial
Builders Inc., 3691 Kennesaw
Industrial Drive, Kennesaw
30144, contractor.
Eagleone Lease and Capital
LLC, 931 Pinson Valley Parkway,
Tarrant 35217, auto dealer.
Extreme Plumbing, Gary G.
Morrison, 665 Tree Haven Drive,
Birmingham 35214, contractor.
FDB Old Fashion Painting,
Frederick Dwayne Bray, 4204
Hazelwood Road, Adamsville
35005, contractor.
HRS Cabinetry, Stephen Riddle,
1512 Eastlake Blvd., Tarrant
35217, cabinet shop/woodwork/
contractor.
Isbell Woodwork and
Construction, Jeff Isbell, 703
Listings for each category in Business Leads may vary
from week to week.
Ninth St., Pleasant Grove 35127,
contractor.
J and C Mobile Detailing,
Jacques Cobb, 4222 Ave. U Apt.
5, Birmingham 35208, peddler/
merchant.
JEMEX, Harold Jemison, 426
Jerry Coleman St., Fairfield
35064, peddler/merchant.
Just Right Roofing, Timothy
Waldrop, 319 Houston Road,
Lisa Norris, 2416 31st St. W.,
Birmingham 35208, peddler/
merchant.
Lula B. Boutique, Kristi Ray,
409 Greensprings Ave. S.,
Birmingham 35205, single store.
Mike’s Roofing, Carl Bell, 1721
Pleasant Grove Road, Hueytown
35023, contractor.
Miranda McCombs
Photography, Miranda K.
McCombs, 75 Poplar Court,
Warrior 35180, photographer.
O’Quinn Photography, Jason
O’Quinn, 157 Elder St., Irondale
35210, photographer/no fixed
place.
Payless Professional
Handyman, Otis Ramsey Jr.,
1412 Woodland Ave. S.W.,
QPC Inc., 1426 16th St. S.,
Royal Street LLC dba ORE,
1117 Dunston Ave., Birmingham
35213, restaurants/soda fountain.
Sanders Lawncare and
Landscaping, Stephen K.
Sanders, 14 37th Ave. N.E.,
Surplus Market Place, Curtis
Diffy, 3290-D Allison Bonnett
Drive, Hueytown 35023, single
store/fruit dealers.
Uncle Mom’s, George Keith
Brewer, 203 N. Main St.,
Graysville 35073, single store/
restaurants/soft carbonated
drinks.
04/12/11.
Belinda & Jeffrey Little vs.
American Home Sunrooms
Inc., 1671 Center Point Parkway
Suite 113-401, Birmingham
35215, $100,000, plaintiff, case
#CV 1999 000122, 04/14/11.
Yellow Book Sales &
Distribution Co. vs. Ace
Flooring Inc., P.O. Box 68,
Pinson 35126, $14,034, plaintiff,
case #CV 2010 002676, 04/14/11.
Yellow Book Sales vs. River
Rock Heating & Air Inc., 1407
Ninth Ave., Midfield 35228,
$20,774, plaintiff, case #CV 2010
002063, 04/14/11.
Yellow Book Sales &
Distribution Co. vs. Classic
Plumbing Heating and Air,
2613 Old Rocky Ridge Road,
Birmingham 35216, $17,312,
plaintiff, case #CV 2010 000635,
04/14/11.
The City of Hueytown vs.
Vulcan Coach Inc., 101 Vulcan
Park Drive, Hueytown 35023,
$36,884, plaintiff, case #CV 2008
001014, 04/08/11.
IberiaBank vs. Sunhill Villas
LLC, 419 Crossways Park
Drive, Woodbury, N.Y. 11797,
$2,458,925, plaintiff, case #CV
2009 902542, 04/13/11.
Shelby County
Bridgefield Casualty Insurance
Co. vs. Circle H Construction
LLC, 8231 S. Main St., Wilsonville
#CV 2010 900866, 04/12/11.
Regions Bank vs. W.S.E.
Leasing Inc., 4029 Greystone
Drive, Birmingham 35242,
$250,445, plaintiff, case #CV
2010 904319, 04/11/11.
Merchants and Farmers Bank
vs. Mike Cline Construction
Inc., 44 Cedar Way, Montevallo
#CV 2011 900046, 04/13/11.
NEW LAWSUITS FILED
COURT JUDGMENTS
Judgments filed in the Circuit
Court. Civil Judgments filed
against businesses for $10,000
or more are published in the
following order: plaintiff name,
defendant name, amount of
judgment, prevailing party, case
number, recording date.
Jefferson County
Devett Godfrey vs. Automart
South Inc., 823 Highway 31
S., Alabaster 35007, $25,084,
04/12/11.
Warren Averett Kimbrough &
Marino vs. Baumann Coatings
Inc., 2095 Fourth Ave. S.W.,
Bessemer 35022, $18,178,
New litigation filed against
businesses in Circuit Court;
includes plaintiff, defendants,
nature of action (if available),
case number and date filed.
Jefferson County
Gwendolyn Jones vs. Driven
Props & Investments et al.,
negligence - general, case #CV
2011 000607, 04/01/11.
Debra Jibri vs. Family Dollar
Store of Alabama Inc., negligence - general, case #CV 2011
000617, 04/05/11.
Northern Fashion Furs vs.
Maxine Furs Inc., contract, case
#CV 2011 000622, 04/05/11.
John Pechi et al. vs. Maxine
Furs Inc., contract, case #CV
2011 000623, 04/05/11.
18
Alice F. Nixon vs. Meds I.V. LLC,
products liability, case #CV 2011
000652, 04/08/11.
Timberline Homes Inc. vs.
Innovida Holdings LLC et al.,
contract, case #CV 2011 901141,
04/04/11.
Anthony Manley vs. Highland
View Apartments Ltd. et al.,
2011 901142, 04/04/11.
CB Roofing LLC vs. Buco
Building Constructors Inc.,
04/05/11.
Ferguson Enterprises Inc. vs.
The Lorrin Group LLC et al.,
04/05/11.
Michael Johnson vs. Mike’s
Filter & Supply Inc. et al., negligence - motor vehicle, case #CV
2011 901157, 04/05/11.
Angelica Hunter vs. T&G
Investments Prop Three LLC,
2011 901164, 04/06/11.
Sovereign Bank vs. B and G
Towing Inc. et al., contract, case
#CV 2011 901188, 04/07/11.
Sealed Unit Parts Co. Inc.
vs. Washer & Refrigeration
Supply Inc., account collection,
case #CV 2011 901200, 04/07/11.
Atlanta Fixture & Sales Co. Inc.
vs. Kasco Food Service LLC,
04/08/11.
Southern Patient Care vs.
Holistic Health Care Inc. et al.,
bad faith/fraud, case #CV 2011
901207, 04/08/11.
FEDERAL TAX LIENS
These are recently filed by The
Internal Revenue Service against
assets of a business for unpaid
income or payroll taxes. They are
recorded with the Clerk of Circuit
Court of each county. Published
are liens against businesses
for $10,000 or more. The data
appears in the following order:
taxpayer’s name, address,
amount of lien, case number (if
available), recording date.
Jefferson County
Clothing Care Inc., 311 Great
View Circle, Hoover 35226,
$12,854, (941), Book/Page
201103/14480, 04/08/11.
Perfect Repair Collision
Center Inc., 930 Sixth Ave. N.,
Birmingham 35203, $14,481,
(941), Book/Page 201103/14875,
04/08/11.
Aladal Inc., 2112 11th Ave. S.
Suite 215, Birmingham 35205,
$55,808, (941), Book/Page
201103/14876, 04/08/11.
Industrial Distribution
Services Warehouse Inc., 3500
First Ave. S., Birmingham 35222,
$53,091, (940/941), Book/Page
201103/19320, 04/15/11.
Kodiak Mining Co. LLC, 3000
Riverchase Galleria Suite 1700,
Birmingham 35244, $33,024,
(720), Book/Page 201103/19328,
04/15/11.
Design-A-Scape, 600 Narrows
Point Way, Birmingham 35242,
$61,226, (941/6721), Book/Page
201103/19329, 04/15/11.
Steel City Welding & Repair
Inc., 1651 Vanderbilt Road,
Birmingham 35234, $10,710,
(941), Book/Page 201103/19331,
04/15/11.
RELEASES OF FEDERAL TAX LIENS
These are liens that have been
paid, lifted and released by the
Internal Revenue Service or the
state.
Jefferson County
Stephen H. Schniper PC, 501
32nd St. S., Birmingham 35233,
$16,945, (940/941), Book/Page
201103/19340, 04/15/11.
Edgewood Presbyterian
Church, 850 Oxmoor Road,
Birmingham 35209, $15,910,
(941), Book/Page 201103/19342,
04/15/11.
Concrete Services LLC, 2976
Lark Road, Palm Springs, Fla.
33406, $226,892, (941), Book/
Page 201103/19344, 04/15/11.
Integrity Bible Church, 216
Roebuck Drive, Birmingham
35215, $8,563, (941), Book/Page
201103/19345, 04/15/11.
All-South Fabricators Inc.,
P.O. Box 767, Trussville 35173,
$65,408, (940), Book/Page
201103/14525, 04/08/11.
Triple R Paint & Remodel Inc.,
7131 Goodner Mountain Road,
Pinson 35126, $5,545, (941),
Book/Page 201103/19350,
04/15/11.
Shelby County
CR Management Maintenance,
1829 Lake Knowl Drive, Helena
35080, $6,651, (941), Book/Page
00011738, 04/15/11.
RELEASES OF STATE TAX LIENS
These are liens that have been
paid, lifted and released by the
Internal Revenue Service or the
state.
Jefferson County
Ace Ventures LLC, 5715
Chalkville Road, Birmingham
35235, (Rental), Book/Page
201103/15786, 04/11/11.
Hueramo Marketing Group
Inc. dba Acapulco Bar & Grill,
430 Green Springs Highway,
Birmingham 35209, (Sales),
Book/Page 201103/15867,
04/11/11.
Hueramo Marketing Group
Inc. dba Acapulco Bar & Grill,
Birmingham 35209, (Local),
Book/Page 201103/15868,
04/11/11.
HAC Restaurant Inc., 402
Highland Drive, Birmingham
35228, (Sales), Book/Page
201103/15869, 04/11/11.
Greensprings Amoco Inc.,
Book/Page 201103/15872,
04/11/11.
The Spotted Zebra Inc., 303
Roundabout Drive, Trussville
35173, (Local), Book/Page
201103/15874, 04/11/11.
The Spotted Zebra Inc., 303
Roundabout Drive, Trussville
35173, (Sales), Book/Page
201103/15876, 04/11/11.
T Bones Steaks Inc., 1204
Center Point Parkway,
Book/Page 201103/18823,
04/15/11.
Shelby County
Oldham Enterprises LLC dba
Repiccis of Central AL, 127
Weatherly Way, Pelham 35124,
(Sales), Book/Page 00011115,
04/11/11.
Alabaster Auto & Tire Inc., 100
First Ave. W., Alabaster 35007,
(Sales), Book/Page 00011094,
04/11/11.
MECHANICS’ LIENS
Mechanics’ liens are filed in
probate. Following are liens filed
against businesses for more than
$5,000. The following information is included: claimant, contractor, owner of property, property address or legal description,
amount, document number,
date recorded.
Jefferson County
Claimant: Mark Belcher,
Contractor: Grayson
Construction LLC, $14,455,
Owner: Simply Fashion, on prop-
erty at (not shown), Document
No. 201103/9307, 04/01/11.
Claimant: Star Electrical
Contractors Inc., Contractor:
Goodgame Co. Inc., $75,422,
Owner: Kirkpatrick Concrete
Co. Inc., on property at (metes
and bounds), Document No.
201103/10443, 04/04/11.
Claimant: Columbus
Automatic Sprinkler Inc.,
Contractor: Holly Construction
Co. & Assoc. Inc., $24,088,
Owner: Lakeshore Holdings LLC,
on property at 400 Commons
Drive, Birmingham 35209,
Document No. 201161/2401,
04/07/11.
Claimant: Columbus Pipe
& Supply Inc., Contractor:
(not shown), $12,397, Owner:
Lakeshore Holdings LLC, on
property at 400 Commons Drive,
Birmingham 35209, Document
No. 201103/15419, 04/11/11.
Claimant: Tidmore Inc. dba
Current Electrical Services,
Contractor: Cutting Edge
Construction, $13,229, Owner:
Cobb Bridge Partners LLC, on
property at 4730 Chace Lake
Circle, Hoover, Document No.
201161/5302, 04/15/11.
NEW REAL ESTATE TRANSACTIONS COMMERCIAL
Real estate transactions
represent transfer of real estate
recorded with the Probate
Recording office. Following are
transfers over $200,000. The following information is included:
seller, buyer, buyer’s address, ZIP
code, subdivision (if available),
amount. This information (plus
Jefferson County
Carolyn P. Drennen et al. to
Real HB LLC, 6000 Monroe Road
Suite 350, Charlotte, N.C. 28212,
(metes and bounds), $7.1 million.
Victor H. III and Mary R.
Hanson to Outremont
Trust, 4055 Old Leeds Road,
Birmingham 35213, (metes and
bounds), $1.49 million.
Capital Real Estate
Investments LLC and Pacifica
Katie Avenue LLC to Rancho
Paul Bryant LLC, 4370 La Jolla
Village Drive Suite 850, San
Diego, Calif. 92122, (metes and
bounds), $1.22 million.
Capital Real Estate
Investments LLC and Pacifica
Katie Avenue LLC to Rancho
Messer Airport LLC, 4370 La
Jolla Village Drive Suite 850, San
Diego, Calif. 92122, Lot 1 BarTom, $944,444.
Pediatric Dentistry East LLC to
BME Management LLC, 123 N.
Chalkville Road Suite 1, Trussville
35173, Lot 2-B Malchus,
$711,000.
Shannon A. Powell to 2870
Crestwood Boulevard LLC,
4100 Brook Way, Birmingham
35213, Lot 2A Commence
Square, $500,000.
Thirty Twenty Partnership to
Brasfield & Gorrie LLC, P.O. Box
10383, Birmingham 35202, Lot
20 Block 444, $400,000.
Julie E. Fleisig to HLI
Investments LLC, 740 Museum
Drive, Mobile 36608, Lot 16
Briarcliff, $327,000.
Lyndon Wilborn to Deer
Park Inc., P.O. Box 100941,
bounds), $300,000.
Turkey Creek Properties LLC
to BoCa Properties LLC, 1200
Alton Drive, Birmingham 35210,
part of Block 5 Morris, $300,000.
Natalie H. Scott to Brock’s
Trace Howell Rental LLC,
4940 E. Fort King St., Ocala, Fla.
34470, Lot 2535 Trace Crossings,
$291,303.
Joseph C. and Betty A.
Baldone to Baldone
Investment Properties LLC,
8000 Liberty Parkway Suite
126, Birmingham 35242, Lot 10
Brookwood Village, $240,000.
Silverstar Management Corp.
to Roebuck Parkway Church
of Christ, 400 Roebuck Parkway,
bounds), $235,000.
Birmingham Center For
Affordable Housing Inc. to
Blair Leasing & Finance LLC,
1572 Montgomery Highway
Suite 204, Birmingham 35216,
Lot 3A Block 20-G Ensley,
$215,000.
Shelby County
Propst Vestavia LLC to
NSH Corp., 3545 Market
St., Birmingham 35226, Lots
58/61/67/69/71/73 Bent River
Phase IV, $240,000.
Acton Homes Inc. to Cobb
Building Co. Inc., P.O. Box
380863, Birmingham 35238, Lots
29-33/59-62 Kinsale Gardens
Homes, $207,000.
Propst Vestavia LLC to
NSH Corp., 3545 Market
St., Birmingham 35226, Lots
95-97/130/135 Bent River Phase
IV, $200,000.
NEW REAL ESTATE TRANSACTIONS RESIDENTIAL
Real estate transactions
represent transfer of real estate
recorded with the Probate
Recording office. Following are
transfers over $200,000. The following information is included:
seller, buyer, buyer’s address, ZIP
code, subdivision (if available),
amount. This information (plus
Jefferson County
Timonty D. and Janet Parish
to William C. and Jaime Josey,
7538 Kings Mountain Road,
Birmingham 35242, Lot 8-A Old
Overton, $820,000.
Charles H. Clark III to Anthony
and Eleanor Turkiewicz, (no
address shown), Lot 170 Mayfair,
$810,000.
Jeffrey M. and Doris K. Sewell
to Sherri R. Crumb, 661 Chris
Court, Trussville 35173, Lot 10
Lancashire, $660,000.
Ashley Spann and Trevor M.
Kaple to Henry B. and Stacy D.
Townsend, 536 Durham Drive,
Birmingham 35209, Lot A Block
13 Unit 1 Hollywood, $620,000.
Hallman Hill LLC to Charles
C. Spraggins, 100 Hallman Hill
Unit 101, Homewood 35209,
Unit 100-101 Hallman Hill,
$519,000.
Adrian and Jacquelyn S.
VanderWoude to Charles III
and Deanna Bellsnyder, 2521
Aspen Cove Circle, Vestavia Hills
35243, Lot 154 Countrywood
Highlands, $506,600.
Edward Wilson and Mary A.
Roberts Wilson to William
L. and Maria B. Casey, 4307
Overlook Road, Birmingham
35222, part of Lots 7/8 Block 8
Forest Park, $466,400.
2600 Highland LLC to Anna
C. Grace Trust, 2600 Highland
Ave. S. #201, Birmingham 35205,
Unit 201 in 2600 Highland
Condominium, $439,900.
Cooke Living Trust to Joseph
A. and Katherine M. Gechijian,
3748 Dunbarton Drive, Mountain
Brook 35223, Lot 13 Block 4
Brookhill Forest, $411,000.
Lee W. Borden and Amanda
Welch Borden to Lee
McKinney, 3350 Misty Lane,
Vestavia Hills 35243, (metes and
bounds), $399,000.
Felicia W. Johnson to Conley
J. and Whitney B. Carr, 2728
Cherokee Road, Mountain
Brook, Lot 12 Cherokee Forest,
$380,000.
Herb and Betsy Bobo to
Jeffrey B. and Karen Liles,
4004 Alston Way, Birmingham
35242, Lot 187 Alston Meadows,
$370,000.
Mark G. and Jodi H. Bearman/
Patrick Sullivan to Thomas
K. and Kimberly D. Settle,
350 Hallman Hill E. Unit 208,
Homewood 35209, Unit 350-208
Hallman Hill, $349,500.
Matthew W. and Mary V. Green
to Donald K. and Daphne D.
Williams, 1849 Southwood
Road, Vestavia Hills 35216, Lot 6
Block 4 Montclaire, $340,000.
Robert E. and Elizabeth A.
Huss to Paul Garrick, 621 Twin
Branch Terrace, Birmingham
35226, Lot 6 Block 4 Twin Branch
Estates, $325,000.
Julius G. Jr. and Jennifer K.
Weyman to Jimmy S. Johnson,
1080 Old Mill Run, Leeds 35094,
Lot 43 Grants Mill at 119,
$316,000.
Edward T. Jr. and Martha A.
Livingston to Mary S. Jones
and Todd J. Coder, 3804
Arundel Drive, Mountain Brook
35243, Lot 22 Block 5 Mountain
Brook Garden Estates, $315,000.
Jesslynn Cagle to Brenda B.
Sandefur, 4089 Alston Lane,
Birmingham 35242, Lot 442A
Alston Meadows Phase 2,
$314,400.
Joann E. Boland to David
and Charlotte Hallengren,
2700 Arlington Ave. S. Unit 4,
Birmingham 35205, Unit 14E
Arlington Crest, $295,000.
Terri McCay to Michael W. and
Laurie H. Wood, 5007 Lake
Crest Circle, Birmingham 35226,
Lot 49 Lake Crest, $293,500.
Linda G. Stevens to John A.
and Maryann Pledger, 3653
Oakdale Road, Mountain Brook
35223, Lot 4 Block 7 Kindswood,
$276,600.
Suzanne Neville to Rebecca
D. Grisham/Charleen R.
Abernethy/John P. Abernethy,
3825 Arundel Drive, Birmingham
35243, Lot 7 Block 4 Mountain
Brook Gardens Estates, $260,000.
Sidney C. Summey Jr. to Jean
L. Mote, 26 Memory Lane,
Birmingham 35213, Lot 42
Rockridge Park, $252,000.
John D. and Erin Lockhart
to Timothy M. and Lara G.
Allen, 2409 Woodmere Drive,
Block 12 Regent Forest Estates,
$250,000.
Tower Development Inc. to
William A. and Sharon A.
Bradley, 2716 Altadena Lake
Drive, Birmingham 35243, Lot 2
Altadena Lake, $249,030.
Chris Renshaw to Robert and
Shelia Howe, 8500 Sharit Dairy
Road, Gardendale 35071, (metes
and bounds), $240,000.
Bruce R. Hartmann to Steven
S. and Melissa L. Cox, 2635
Swiss Lane, Vestavia Hills 35226,
Lot 31 Block 5 Green View
Estates, $233,000.
Superior Bank to Taylor E.
and Jennifer C. Cochran,
740 Woodridge Trail, Mount
Olive 35117, Lot 1 Gardendale
Homesteads, $225,000.
Tower Development Inc. to
Paul E. and Betsy C. Rofe, 1179
Grants Way, Irondale 35210, Lot
6 Grants Mill Crossing, $224,650.
Stephen T. Smith to John M. III
and Carolyn E. Douglass, 2729
Southview Terrace, Birmingham
35216, Lot 46 Vestavia Forest,
$219,000.
Ridge Crest Properties LLC to
Erin S. Wheeler and David N.
O’Dell, 5238 Creekside Loop,
Creekside, $214,800.
Thomas J. IV and Kelly V.
Simmers to James G. and
Jennifer R. Patko, 2012
Crosscrest Drive, Birmingham
35244, Lot 46 Russet Woods
Phase 2, $207,000.
Rickey E. and Paige T. Hood to
Vincent A. Intoccia and Sarah
Brown-Intoccia, 1938 Shady
Woods Drive, Hoover 35244,
Lot 14 Shady Woods Estates,
$202,000.
Shelby County
Austin S. and Jana T. Taylor
to Jason L. Ingram, 5009
Aberdeen Way, Birmingham
35242, Lot 12 Greystone Seventh
Sector, $520,000.
Richard A. Mumalo to Guy
J. Gusmus and Mallerie
J. Ladner, 5280 Greystone
Way, Birmingham 35242, Lot
34 Greystone Sixth Sector,
$498,500.
Lalitha E. Blackerby to James
O. and Gena R. Gorman, 2849
Berkley Drive, Birmingham
35242, Lot 24 Woodford,
$435,000.
James L. and Elizabeth M.
Eaton to David C. and Julie H.
Elliott, 1645 Wingfield Drive,
Brook Highland, $369,000.
Fannie Mae/Sirote & Permutt
PC to Terry Whitt, 646 Highland
Lakes Cove, Birmingham
35242, Lot 107 Highland Lakes,
$358,000.
U.S. National Bank Association
to Charles M. and Mindy S.
Kitchen, 281 Normandy Lane,
Chelsea 35043, Lot 39 Courtyard
Manor, $345,000.
David R. and Kathryn S.
Sawyer to Jason Goldfon, 4708
Eagle Wood Court, Birmingham
35242, Lot 18 Eagle Point,
$283,000.
Terry E. Whitt to Charles J.
Jr. and Betty J. Goode, 317
Chateau Way, Birmingham
35242, Lot 84 Villas Belvedere,
$238,000.
Deutsche Bank National Trust
Co. to Chanse E. Guin, 1727
Oak Park Lane, Helena 35080,
Lot 301 Woodlands Sector 3,
$235,500.
Adams Homes LLC to Danny E.
Williamson, 4221 Old Cahaba
Parkway, Helena 35080, Lot 1825
Old Cahaba Phase V, $216,300.
Christopher B. and Jessica
J. Liston to Charles K. and
Kimberly A. Sullivan, 5287
Birdsong Road, Birmingham
35242, Lot 48 Sunny Meadows,
$210,000.
BUILDING PERMITS  COMMERCIAL
Newly issued building
permits are collected from the
Jefferson County Department
of Inspection Services; City of
Birmingham Department of
Planning, Engineering & Permits
and Shelby County Building
Inspections. The following information is included: contractor/
owner, job site address, description, estimated value ($200,000
or more), square footage (if
available). The following information is provided by Southern
Exposure Information. For
further information call (256)
658-9297.
City of Birmingham
Royal Seal Construction Inc.,
commercial alteration at 335
Summit Blvd., Toys R Us, $1.8
million.
City of Mountain Brook
McWhorter & Co. Inc., commercial alteration at 7 Office Park
Circle, Southern States Bank,
$1.18 million.
Shelby County
Foulad Moiz, commercial building at 2272 Valleydale Road Suite
200, Foulad Moiz, $1.15 million.
BUILDING PERMITS  RESIDENTIAL
Newly issued building
permits are collected from the
19
Jefferson County Department
of Inspection Services; City of
Birmingham Department of
Planning, Engineering & Permits
and Shelby County Building
Inspections. The following information is included: contractor/
owner, job site address, description, estimated value ($100,000
or more), square footage (if
available). The following information is provided by Southern
Exposure Information. For
further information call (256)
658-9297.
Jefferson County
Adams Homes, single-family
residence at 6750 Ridgecrest
Circle, $105,340.
Adams Homes, single-family
residence at 6759 Ridgecrest
Circle, $116,275.
DR Horton Inc., single-family
residence at 1441 Bristol Manor,
$135,839.
City of Birmingham
Pinkston Hollar Construction
Service, multi-family residence
at 952 Alton Parkway, (condo),
$156,000.
Steve McGuire Construction,
single-family residence addition/
alteration at 4312 Glenwood
Ave., $700,000.
Tower Development, singlefamily residence at 105 Kingston
Landing, $136,328.
City of Homewood
Ohme Brennan, single-family
residence addition/alteration at
405 Edgewood Blvd., $200,000.
City of Hoover
Rusert Homes LLC, single-family residence at 5223 Brookside
Pass, $200,000.
City of Leeds
Bruce Dickson, single-family
residence at 300 Quail Run Drive,
$250,000.
residence at 617 Johnnys Cove,
$139,900.
$150,400.
$144,900.
$140,400.
$159,900.
$139,900.
City of Mountain Brook
Bruce MacClary, single-family
residence addition/alteration at
743 Bently Ave., $250,000.
City of Vestavia
Southeast Construction LLC,
single-family residence addition/
alteration at 2717 Watkins Glen
Drive, $250,000.
Shelby County
Danny Clark, single-family
residence at 5400 Spring Creek
Road, $106,000.
Signature Homes/NSH Corp.,
single-family residence at 1117
Regent Park Drive, $209,000.
The Cahaba Engineering
Group LLC, single-family residence alteration at 255 Highland
View Drive, $103,000.
The Lorrin Group LLC, singlefamily residence alteration at
1023 Newbury Lane, $120,000.
FROM PAGE ONE
SUPERIOR: New owner Community Bancorp pumps $350 million of capital into failed bank to keep afloat
FROM PAGE 1
The cost of failure
Superior Bank’s failure could be a costly
one for the U.S. Treasury, which faces a total
loss on its investment in Superior Bancorp.
The holding company received $69 million
from the Troubled Asset Relief Program that
had not been paid back, according to SNL
Financial.
It also cost the FDIC Deposit Insurance
Fund $259.6 million.
Earlier this week, Superior Bancorp said it
is considering filing for Chapter 7 bankruptcy
protection due to the failure of the bank,
which was its principal asset. In a filing on
Tuesday, Superior said the value of the holding company’s debts exceed its assets, and
there will be nothing available for distribution to debt holders or stockholders. Superior
Bancorp does not expect to receive anything
for its interest in the bank.
The holding corporation also recently
announced that its stock will be delisted from
the Nasdaq Stock Market.
New Superior strategy
The new Superior owners said its headquarters will remain in Birmingham, and the
bank will switch regulation to the Office of the
Comptroller of the Currency from the Office
of Thrift Supervision.
Community Bancorp has a strategy of pick-
ing up troubled banks at a discount and
recapitalizing them so they can stand on their
own. The bank holding company has raised
equity capital commitments of $1 billion for
the purpose of making investments in the
U.S. banking sector.
Last month, Community Bancorp made
its first acquisition with Starkville, Miss.based Cadence Bank, which had recently
suffered issues with write-downs from residential development and construction loan
losses. Now with the addition of Superior,
Community Bancorp has 111 branches, $4.5
billion in assets and a legal loan limit of $75
million.
Community plans to inject $350 million
of new capital into Superior to shore up the
bank’s capital ratios. The Office of Thrift
Supervision, which put Superior under a
cease and desist order in November to boost
its capital levels by the end of March, said
on April 15 Superior was in “an unsafe and
unsound condition due to its capital deficiency, asset quality problems and significant
losses.” As of Dec. 31, the institution reported
a Tier 1 total risk-based capital ratio of 3.49
percent, which should be 8 percent.
The bank had struggled with nonperforming loans, or loans that are past due, and
didn’t earn an annual profit after 2007. It
recorded a net loss of $232.2 million in 2010,
according to figures from the FDIC.
Murphy said goals for Superior N.A. include
KEY PLAYER
Paul Murphy
CEO of Community Bancorp and
chairman of Superior Bank N.A.
Experience: Previously served as CEO of the $11 billion
Amegy Bank of Texas. He began his banking career in 1981
with Allied Bank of Texas.
ramping up technology, providing more commercial and industrial lending, investing in
private banking platforms, adding to its mortgage banking staff and discontinuing loans
for land purchases.
Birmingham’s banking future
Superior’s failure – along with the failure of Nexity Bank the same day – moves
ServisFirst Bank into the slot as the secondlargest bank based in Birmingham, with
assets of $1.9 billion. That’s a distant second
to Regions Financial Corp., which has $130
billion in assets.
But Stephen Yoder, assistant professor at the
University of Alabama at Birmingham’s School
of Business, said despite the many changes,
Birmingham is still seen as a financial center.
“It’s one of the largest banking centers in the
Southeast,” he said. “I believe that Birmingham
still has talented bankers, and it is a good market for banks to be in.”
Randy Dennis, president of Arkansas-based
DD&F Consulting Group, said the purchase
of Superior’s assets by an out-of-town bank is
good for Birmingham.
“We hate to see any bank fail, but for the
state of Alabama, it’s a very good outcome,”
Dennis said.
Cadence’s 38 offices in Alabama, Mississippi,
Tennessee and Florida don’t overlap Superior’s
operations. Therefore, most of the old
Superior’s employees, about 770, kept their
jobs.
“This is probably the best case outcome of a
bad situation – minimal job losses, no disruption of customer service and the opportunity
for the new management team to eventually
improve the performance of Superior,” said
John Kottmeyer, adjunct professor of banking at Samford University’s Brock School of
Business.
Kottmeyer said that as long as the new management is diligent in managing the existing
loan assets, as well as prudent and conservative in extending new credit, the problems that
Superior experienced should not be repeated,
and the new company should return to profitability over time.
NEXITY: Executives with new owner AloStar have decades of banking experience with Wells Fargo, SunTrust
FROM PAGE 1
in Birmingham, was formed with the purpose of acquiring the assets and deposits
of Nexity.
Michael Gillfillan, AloStar’s chairman
and CEO, said plans are in the works to
hire additional employees and open sev-
eral loan production offices throughout
the United States. The first office is located in Atlanta. Gillfillan is still pondering
the other locations, but said they possibly
could be in New York, Texas and an undetermined state on the West Coast.
AloStar will focus on serving three clients: depositors who interact with the
bank largely through its online banking
platform; community banks that benefit
from an array of correspondent services;
and businesses with $5 million to $150
million in revenue that need a variety of
commercial lending products.
“We want to
change the loan ‘WE’VE HAD SOME
portfolio emphasis
failures, but we
from the typical
community banks
have
some mighty
in the Southeast
good banks in
that were very
focused on real Alabama that service
estate and switch
the needs in our
it over to a focus
on
small-andcommunities.’
medium-sized
businesses nationJohn Harrison
wide,” Gillfillan
Alabama State Banking
said.
Department
Gillfillan
said
he and business
partner Andrew McGhee, who serves as
AloStar’s executive vice president and
president of its commercial division, first
met Nexity officials a year ago while doing
a tour of struggling banks that were seeking additional capital.
“We were looking for a bank that had a
nationwide deposit franchise and a very
solid systems platform of being able to
provide rapid and good information to
their customer base,” he said. “Because
Nexity was a bankers’ bank dealing with
hundreds of banks that needed to have
the information for other banks and the
Federal Reserve, it developed a culture of
having back-office operations that gave
correct, timely and solid information to its
client base.”
AloStar initially tried to raise capital
without FDIC assistance, Gillfillan said.
After determining that they weren’t going
to be able to raise capital on an unassisted
basis, Gillfillan and McGhee explored the
possibility of having a charter from the
state of Alabama to be able to bid if Nexity
came up in a resolution process with the
FDIC.
“I don’t think this transaction by AloStar
would have happened if it hadn’t been for
the time and effort that the state banking
department put into understanding our
business plan and who we were,” Gillfillan
said.
John Harrison, superintendent of the
Alabama State Banking Department, said
it’s always unfortunate when it’s necessary
to close a state-chartered bank. However,
he said he feels confident that AloStar will
meet the needs of Nexity’s former customers.
Even though Nexity was shut down on the
same day as Superior Bank, which was regulated by the Office of Thrift Supervision,
Harrison said Alabama’s banking industry
is still strong.
“We’ve had some failures, but we have
some mighty good banks in Alabama that
service the needs in our communities,” he
said. “Overall, we think the Alabama banking industry is still in firm shape, and we
have some great days ahead of us.”
Gillfillan and McGhee have 66 years of
combined experience in banking, finance
and private equity. Gillfillan spent 26 years
at Wells Fargo, where he finished his career
as chief credit officer and vice chairman.
He has extensive experience in bank governance and commercial finance and management. McGhee cofounded Archway
Equity Partners, an Atlanta-based private
equity firm, in 2008. Prior to that, he spent
12 years with SunTrust, where he served as
managing director of three business units
and eventually attained a title of senior
vice president. McGhee has also held leadership positions at Citicorp, Bank South
and Bank of America Business Credit.
FROM PAGE ONE
21
WOMEN: Study says female workers in Alabama are top money makers in more than 280,000 households
FROM PAGE 1
Congress has discussed measures to
improve the wage gap with the Paycheck
Fairness Act, which would close loopholes
in the Equal Pay Act and establish stronger workplace protections for women. It
passed the U.S. House of Representatives
in the last session of Congress, but fell two
votes short of moving forward in the Senate
last year.
According to the Women & Families
report, if the gap between men’s and women’s wages were eliminated, each full-time
working woman in Alabama could afford
mortgage and utility bills for 10 more
months, rent for 16 more months, or three
more years of family health insurance premiums.
“This new data illustrate the very real
harm unequal wages are doing to families
and
the
state,” said Debra
‘IF THERE’S ONE
Ness, president
thing we can do to
of the National
change the wage
Partnership
for Women &
gap, it would be
Families. “It is long
having men stay
past time to close
the gender-based
at home with their
wage gap. With
families.’
women playing
an increasingly
Jay St. Clair
important role as
Littler Mendelson
family breadwinners, there is no
time to waste.”
About 67 percent of working mothers in
Alabama now bring in more than a quarter
of their families’ income, the study said,
citing data by the Center for American
Progress. Women also are the top money
maker of more than 284,000 households in
Alabama, according to Census figures cited
in the report.
Jay St. Clair, office managing shareholder
at Littler Mendelson PC’s Birmingham firm,
represents employers’ cases in labor and
employment litigation. He said there is a
wage gap for men and women because of
the jobs the genders choose and the tendency for men to work longer hours than
women.
“Part of this difference is that there is
self-selection between men and women on
what jobs they work in,” he said. “Across the
board, men tend to work in unpleasant envi-
Sponsored by:
ronments, such as sanitation, that requires
very long hours. If you look at it statistically,
men work longer hours than women.”
St. Clair said women also typically become
the main provider of care at home later in
their careers as men work more hours later
in their careers. He said he sees at least one
solution to the wage gap.
“If there’s one thing we could do to change
the wage gap, it would be having men stay at
home with their families,” he said.
The wage gap, while an interesting statistic, does not offer a litigious point of entry for
lawyers in most cases, St. Clair said.
“Are there instances of pay discrimination?
There’s no doubt about that,” he said. “Is it
rampant? Not in my experience.”
22
On The Move
BENEFITS
EDUCATION
Rachel Stamper,
provider relations
manager for American
Behavioral, was
elected president of the
National Cooperative
Network. She has
been with American
Behavioral since 2005
and works in conjunction with the marketing
department to ensure
a vast national network of psychiatrists,
psychologists, therapists and hospitals for
existing and potential
clients.
Watts
Canon
Warnock
Hill
Thompson
Tomlin
Walker
BUSINESS CALENDAR
Ralph Cook has
been selected
as chairman of
the board for
the Birmingham
Museum of Art for
the next three years.
He will take office
in September. Cook
has been an attorney
with the law firm of
Hare Wynn Newell
and Newton. He previously served as an associate
justice on the Alabama Supreme Court.
Harper
CONSTRUCTION
Jeff Hill, Brian
Thompson, Bill Tomlin
and Sloan Walker were
promoted to senior
estimators at Hoar
Construction. Walker has
been with the company
since 2002, Thompson
since 2003, Hill since
2004 and Tomlin since
2005.
SPOTLIGHT
Several UAB employees
have been appointed
to endowed positions,
including: Ray L. Watts
to the James C. Lee
Jr. Endowed Chair for
the Dean in the UAB
School of Medicine;
Doreen Harper to the
Fay Ireland Endowed
Chair for the Dean
of the UAB School
of Nursing; Cheri L.
Canon to the WittenStanley Endowed
Chair of Radiology in
the Department of
Radiology in the UAB
School of Medicine;
Steven M. Pogwizd
to the renamed
Featheringill Endowed
Chair in Cardiac
Arrhythmia Research
in the UAB School of
Medicine; David G.
Warnock as the initial
holder of the Hilda B.
Anderson Endowed
Chair in Nephrology
in the Department of
Medicine in the UAB
School of Medicine;
V. Michael DarleyUsmar to the Endowed
Professorship in
Mitochondrial Medicine
and Pathology in
the UAB schools of
Medicine and Dentistry;
Nengjun Yi to the Sir
David Cox Professorship
in Biostatistics in
the UAB School of
Public Health; Will
York to professor and
chair emeritus in the
Department of Theatre
in the UAB College of
Arts and Sciences.
ENGINEERING
Billings
Todd Billings was
promoted to business
development director
at Sain Engineering
Associates Inc. He will
be responsible for
developing and marketing the company’s
new service offerings
focusing on commercial,
institutional and industrial facilities. He previously served as director
of operations for Sain.
LEGAL
George Walker, a
member of Hand
Arendall LLC, has been
elected president of the
Association of Defense
Trail Attorneys.
Walker
MARKETING
blr|further has named
Ben Shoults to its interactive team. He will handle user interface development responsibilities.
Shoults has almost 10
years of experience
in web development,
e-commerce and email
marketing solutions.
Brian Blackman has
joined the company’s
creative team as senior
art director, with a focus
on interactive projects.
No representation is made that the quality of legal services to be performed is greater
than the quality of legal services performed by other lawyers.
TUESDAY, APRIL 26
TUESDAY, MAY 3
The Vestavia Hills Young Professionals will host its
Monthly Mingle from 5:30 to 7:30 p.m. at Mugshots
Bar and Grill in Vestavia. For more information, call
(205) 823-5011 or email [email protected].
The Small Business Administration will host “8(a)
and HubZone Certification/Doing Business with the
Federal Government” at 1 p.m. at the SBA’s district
office. For more information, contact Susan Baxter at
(205) 290-7101 ext. 228.
The Alabama Women in Business will present
“Business After Hours” from 5:30 to 7:30 p.m. at the
Vestavia Country Club. Guest speaker will be Nancy
Wagnon. Topic is “Learn How to Entertain Clients
Without Golf Clubs.” Cost is $15 for members and
$20 for guests. For more information, visit www.
alwib.org.
The Homewood Chamber of Commerce will host
“Coffee and Contacts” from 7:30 to 9 a.m. at Savage’s
Bakery. For more information, visit www.homewoodchamber.com.
TUESDAY, MAY 10
The Hoover Area Chamber of Commerce presents
“Business After Hours” from 5:30 to 7 p.m. at the
Hoover Country Club. For more information, call (205)
822-0647 or visit www.hooverchamber.org.
The Vestavia Hills Chamber of Commerce will host
its monthly luncheon from 11:30 a.m. to 1 p.m. at the
Vestavia Country Club. Cost is $18. For more information, visit www.vestaviahills.org.
The Birmingham chapters of the American
Marketing Association, American Advertising
Federation, Society for Marketing Professional
Services and the American Institute of Graphic
Arts will host their Spring Mixer from 5:30 to 7:30
p.m. at McCormick & Schmick’s. Cost is $10 in
advance and $15 at the door. Register at www.
bhamama.org.
The Birmingham chapter of the American
Association of Individual Investors will meet at
6:30 p.m. at the Homewood library. Topic is “2011
Investment Perspectives – Municipal Bond Market.”
Cost is $12. For more information, contact Fred Duran
at (205) 967-776 or [email protected].
TUESDAY, MAY 17
The Birmingham Business Alliance will host
the Small Business Week Summit at 7 a.m. at the
BJCC East Ballroom. Guest speaker will be Kevin
Schmiegel, vice president of the executive office of
the U.S. Chamber of Commerce. For more information, visit www.bhamsmallbiz.com.
WEDNESDAY, MAY 18
The Hoover Area Chamber of Commerce will host
its monthly luncheon at 11:30 a.m. at the Hoover
Country Club. Cost is $17. For more information, visit
ww.hooverchamber.org.
ANNOUNCEMENTS
American Behavioral has received a contract to
provide behavioral health benefits for Alabama
Rural Electric. The company also received a contract to provide an employee assistance program
and managed mental health services for Colonial
Properties Trust.
M.J. Harris Inc. recently completed an emergency
department addition at River Oaks Hospital in
Flowood, Miss., and an ambulatory surgery center at
University Medical Center in Lebanon, Tenn.
Shoults
SUPPLIES
Blackman
Belcher
RECRUITING
John Dobbins joined
Vaco Birmingham as an
executive recruiter in the
accounting and finance
group. He previously
spent five years in the
audit division of Ernst &
WEDNESDAY, MAY 4
THURSDAY, APRIL 28
Young in Birmingham.
Kim Reynolds joined
Synergis in Birmingham
as a technical recruiter.
Dobbins
205.251.1000 • www.hsy.com
Rob Belcher has been
named chief operating
officer at Ram Tool and
Supply Co. Belcher is
responsible for overseeing all aspects of the
supply chain and operations for Ram Tool’s 16
branches. He is a graduate of the U.S. Naval
Academy and has been
with Ram Tool since
2008.
health care services
at Ibml. Tate will be
responsible for driving the company’s
revenue growth strategies in the health care
market, including its
outsourced health care
revenue cycle management, recovery audit
contractor assessment
and claims pre-adjudication services.
Bluejireh Inc., a Birmingham provider of technology deployment services, has moved its offices to
Innovation Depot.
The Birmingham Business Alliance is helping raise
money for Hitachi City, which is Birmingham’s sister
city in Japan that was impacted by the earthquake.
Want to read the Birmingham
Business Journal on your iPhone?
There’s an app for that.
Ron Perkins, vice
president of Doozer
Software, was
appointed to the U.S.
Chamber of Commerce
Council on Small
Business. He was also
recently named cochair of the Business
Council of Alabama
Small Business Policy
Committee.
Search for “Birmingham Business
Journal” in the app store.
TECHNOLOGY
Benny Tate has been
appointed director of
The Birmingham chapter of the Public Relations
Council of Alabama won third place in the
Programs Category in the organization’s state awards.
Perkins
bbj
Viewpoint
OUR VIEW
BBVA Compass is looking for a new local headquarters,
which could be bad news for the Daniel Building.
&
Bank loss
is a blow to
Birmingham
GAINERS
FROM the
BBJ Archives
20 years ago
Drummond Co. was ordered to pay $37.5
million to a shareholder group stemming from
its purchase of Alabama By-Products.
10 years ago
Emageon Inc. landed a major digital imaging
contract with Brookwood Medical Center.
5 years ago
Colonial Properties Trust said it was building
a $36 million office tower next to Brookwood
Village Mall.
President and Publisher
Joel Welker
[email protected]
EDITORIAL
Editor
Cindy F. Crawford
[email protected]
LOSERS
Managing Editor
Ty West
[email protected]
Staff Writers
Antrenise Cole
Banking and Finance
[email protected]
Lauren B. Cooper
Real estate, retail and
manufacturing
[email protected]
W
hen steel production took a nosedive
in Birmingham, the city replaced its
industrial dominance with two more
diverse industries: higher education and
banking.
The University of Alabama at Birmingham
is still going strong since establishing in the
late 1960s – and it is estimated to get stronger in its importance in the Magic City’s
economy in the coming years.
But Birmingham has lost its footing as the
Southeast’s banking hub.
The closure of Superior Bank last week
was not only the largest bank failure in the
country so far in 2011 – it was a huge blow to
Birmingham’s banking industry.
It wasn’t that long ago that Birmingham
served as the headquarters for the Big Four
massive regional banks: AmSouth, Regions,
Compass and SouthTrust.
With those headquarters came thousands
of jobs and national, even global, presence
as a city that meant business – banking business.
But after a few mergers, a housing bubble
bust and a Great Recession, Birmingham is
now barely on the financial map.
Some say the bank closures across the
country – including the mass of financial
institution shutdowns in Nevada, Florida
and Georgia – are part of the banking world
right-sizing itself from the oversaturated,
branch-heavy, loan-hungry industry it had
become. That is likely so.
But it doesn’t make the loss of banks based
in Birmingham any less painful.
The closures may have weeded out the
banks that took too many risks and paid
the price, but it came at a high price for
Birmingham.
Let’s just hope this is the end of the bloodshed in Birmingham’s banking scene.
Regions Financial Corp. – Birmingham’s
stance as a major player in the financial
industry is all on your shoulders now.
23
The Daniel Building
Regions Financial
Richard Scrushy
The future is uncertain for
the historic Daniel Building
now that BBVA Compass
is scouting sites for a new
headquarters. You have to
wonder what will become of
the midtown landmark when
the banking giant finds a new
home.
The past couple years have
been tough for Birmingham’s
only remaining Fortune 500
company, but it recorded a
profit for the first quarter and
its bad loans continued to
decline. Regions still has a
long way to go, but it’s
moving in the right direction.
The ex-HealthSouth Corp.
CEO’s most recent appeal met
a dead end at the Alabama
Supreme Court. It’s probably a
safe bet that we haven’t heard
the last of the imprisoned
executive.
W
Research Director
Aneesa McMillan
[email protected]
Washington Bureau Chief
Kent Hoover
[email protected]
Graphic Designer
Derek Morrow
[email protected]
ADVERTISING
Advertising Director
Claude Dorsey
[email protected]
Account Executives
Meghan McClendon Ward
[email protected]
GUEST
NOTEBOOK
CHARLES COLLAT & NANCY GOEDECKE
others, it has brought us more satisfaction that one
could imagine. There is an intrinsic reward that
cannot be measured in dollars that one receives,
and continues to receive well into the future, from
giving back.
We felt so good when we received a call saying the
room which we helped pay for in the UAB Palliative
Care Unit was where a loved one spent her last
moments at peace, with her family surrounding her.
It is heartwarming to know that children who come
to the YWCA from area shelters can receive balanced
meals and educational support.
Knowing that you are preparing people for life with
the studies at UAB School of Business and School of
Education or the saving of lives with our involvement
with the UAB School of Medicine is priceless.
Learning about the help that the Collat Jewish
Family Services has provided to people of all faiths,
rich, poor, young and old, for things we take for granted, like transportation to doctor appointments, providing groceries and resettling victims of Hurricane
Katrina is also priceless.
We encourage everyone to get the real benefit of
giving by giving until it feels good. It won’t hurt your
name either because a good name is worth great
riches.
Charles Collat is chairman emeritus of Mayer Electric Supply.
His daughter, Nancy Goedecke, is chairwoman and CEO of
Mayer Electric.
HOW TO WRITE US
Why not voice your comments and concerns in Alabama’s premier business publication? The Birmingham Business Journal
welcomes your letters. All submissions become the property
of the Birmingham Business Journal and will not be returned.
Submissions may be edited and may be published or otherwise used in any medium.
Sections Coordinator
Anna Thibodeaux
[email protected]
PRODUCTION
Production Director
Beth Donahue
[email protected]
Corporate giving is key to society
hen you grow up with meager means and
you see those around you giving hard dollars
it makes an impression.
When I was young, all I (Charles) could give was
my time. This turned out to be very beneficial to
me because I truly experienced the impact of the
organizations for which I was working and interacted with potential donors. Once you experience
the need that is all around us and the appreciation
shown by those receiving aid it only makes you want
to do more.
The corporate community has the resources and
skills and the responsibility to share these with those
less fortunate in the greater community. Bolstering
the nonprofits of Birmingham that enable selfsufficiency, support those in need and take care of
us as we age, only strengthens our community and,
in turn, allows our corporate success to continue.
Providing financial support is critical. Working in
the Street Division of United Way, I (Charles) witnessed firsthand the generosity of some and closed
doors of others. If all around our area would give
their fair share we would be raising twice as much
as we do for our United Way. I guess the 80-20 rule
is firmly in place.
Encouraging employee involvement in the community through volunteerism and pro bono projects
is also important.
Sharing your marketing department to enable a
nonprofit to get their message out to the community or having a “give back” day where employees do
hands-on work to make a difference can be rewarding and inspiring and bring them back to the office
with renewed spirit.
We at Mayer Electric have created a culture that
encourages giving both financial gifts and employee
skills to support as many organizations as possible
because we see the need every day. As we have
become more able to share our good fortune with
Ben Piper
Health care and technology
[email protected]
Please send to [email protected] or through the mail to:
Cindy F. Crawford
Editor
Birmingham Business Journal
2140 11th Avenue South, Suite 205
Andrew Boyd
[email protected]
Kenny Rush
[email protected]
CIRCULATION
Circulation Director
Ginger Gardner Aarons
[email protected]
Account Executive
Anne Senft
[email protected]
Circulation Coordinator
Rita Williams
[email protected]
EVENTS
Event Coordinator
Lauren Looser
[email protected]
ADMINISTRATION
Business Manager
Jana Branch
[email protected]
Credit Manager
Beth Hoff
[email protected]
2140 11th Ave. S., Suite 205
(205) 322-0000
FAX: (205) 322-0040
E-mail:
[email protected]
Birmingham Business Journal
is a publication of American City
Business Journals Inc.
120 West Morehead St., Suite 400,
Charlotte, NC 28202
Whitney Shaw, President and CEO
Ray Shaw, Chairman (1989-2009)
All submissions to editorial pages
become the property of the Birmingham
Business Journal and will not be
returned; submissions may be edited and
may be published or otherwise re-used
in any medium. Birmingham Business
Journal is a registered trademark. No part
of this publication may be reproduced
without written consent of the publisher.
Nothing contained herein should be construed as a solicitation for the purchase or
sale of any securities.
THE NETWORK OF
CITY BUSINESS JOURNALS
24
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grow and boost productivity with devices, business apps,
mobile security safeguards, and unrivaled support.
All on the fastest, most advanced 4G network in America.
Business
Apps
More small businesses choose Verizon Wireless
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the small business with the best technology rules.
VISIT A VERIZON STORE OR CALL 1-800-VZW-4-BIZ
TO GET THE BEST TECHNOLOGY FOR YOUR BUSINESS.
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*Results based on third-party study. Motorola XOOM is upgradeable to 4G LTE in Spring 2011. LTE is a trademark of ETSI.
Network details & coverage maps at vzw.com. © 2011 Verizon Wireless.
D4828

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