Montgomery Business Journal – May 2013 by Montgomery Area Chamber of Commerce

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May 2013

Contents

8 24

Calendar

Investor Profile: Merchant Capital

Author Peter Kageyama encourages creative approaches to make a city lovable

Retailers and developers take a serious look at East Montgomery

BB&T opens new location

Montgomery regional medical school takes shape

Member Profile: River Bank & Trust

International companies and employees make a world of difference

Q&A with Lt. Gen. David Fadok

Reporterâ&#x20AC;&#x2122;s Notebook

Small business owners learn about opportunities at Minority Business Development Forum

U.S. Sen. Jeff Sessions supports balanced budget

M.L. Beeman looks to grow his engineering/architectural company

Business Buzz

Members on the Move

New Members

Ribbon Cuttings & Ground Breakings

Economic Intel

May 2013 Montgomery Business Journal

THE NUMBER ONE BUSINESS SOURCE FOR MONTGOMERY AND THE RIVER REGION PUBLISHER

Randall L. George Executive Editor

Tina McManama Managing Editor

David Zaslawsky COPY EDITOR

Lashanda Gaines Design

Copperwing Design Photographer

Robert Fouts On the cover:

Lt. Gen. David Fadok is the commander and president, Air University at Maxwell Air Force Base and Gunter Annex.

Advertising:

Linda Drumheller 334-240-9494 mbjsales@montgomerychamber.com Montgomery Business Journal c/o Montgomery Area Chamber of Commerce Post Office Box 79 41 Commerce Street Montgomery, Alabama 36101 Telephone: 334-834-5200 Fax: 334-265-4745 Email: mbj@montgomerychamber.com www.montgomerychamber.com/mbj The Montgomery Business Journal (USPS NO. 025553) is published monthly except for the combined issues of June/July/August and November/December, by the Montgomery Area Chamber of Commerce, 41 Commerce Street, Montgomery AL 36104, (334) 834-5200, www.montgomerychamber.com. Subscription rate is $30 annually. Periodicals Postage Paid at Montgomery Alabama, 36119+9998, USPS NO. 025553. Volume 5, Issue 5 POSTMASTER send address changes to Montgomery Business Journal, c/o Montgomery Area Chamber of Commerce, P.O. Box 79, 41 Commerce Street, Montgomery AL 36101, or email mbj@montgomerychamber.com. The Montgomery Business Journal welcomes story ideas from its readers. Email to: editor@montgomerychamber.com. Subscriptions are a part of the Montgomery Area Chamber of Commerce dues structure. Subscriptions can also be purchased for $30 per year at www.montgomerychamber.com/mbjsub.

Montgomery Business Journal May 2013

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Calendar Montgomery Area Chamber of Commerce Events

MAY

JUNE

BUSINESS PLANNING SEMINAR 4 PM @ Small Business Resource Center 600 South Court Street, Montgomery $10 at the door

60 MINUTE COFFEE Sponsored by Brantwood Children’s Home 8 AM @ Brantwood Children’s Home 1309 Upper Wetumpka Road, Montgomery Free event, exclusively for Chamber Members

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CHAMBER OPEN Presenting Sponsor: Railyard Brewing Company 11:30 AM @ Robert Trent Jones Golf Trail at Capitol Hill 2600 Constitution Avenue, Prattville Registration: montgomerychamber.com/open BUSINESS PLANNING SEMINAR 4 PM @ Small Business Resource Center 600 South Court Street, Montgomery $10 at the door 60 MINUTE COFFEE Sponsored by AALOS 8 AM @ Montgomery Antiques & Interiors, 1955 East South Boulevard, Montgomery Free event, exclusively for Chamber Members ALABAMA UPDATE Presenting Sponsor: Beasley, Allen, Crow, Methvin, Portis & Miles, P.C. 7:30 AM @ RSA Activity Center 201 Dexter Avenue, Montgomery Chamber Members: $25, Nonmembers: $35 Corporate Table: $575 Registration: montgomerychamber.com/ALupdate BUSINESS PLANNING SEMINAR 4 PM @ Small Business Resource Center 600 South Court Street, Montgomery $10 at the door BUSINESS AFTER HOURS Sponsored by Montgomery Colonial Property 5 PM @ Capitol Commerce Center, 100 Capitol Commerce Boulevard, Montgomery Free event, exclusively for Chamber Members

Montgomery Business Journal May 2013

13 17 26 27

CEO ROUNDTABLE BREAKFAST Presenting Sponsor: Information Transport Solutions, Inc. 7:30 AM @ Small Business Resource Center 600 South Court Street Registration: montgomerychamber.com/ceo BUSINESS PLANNING SEMINAR 4 PM @ Small Business Resource Center 600 South Court Street, Montgomery $10 at the door MACC/AU Golf Challenge Presenting Sponsor: Up an Running @ Wynlakes Golf & Country Club 7900 Wynlakes Boulevard, Montgomery Tee Time: 1 PM Event is by invitation only BUSINESS AFTER HOURS Sponsored by Verizon Wireless 5 PM @ Verizon Wireless 6825 EastChase Boulevard, Montgomery Free event, exclusively for Chamber Members

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Investor Profile Thomas Ashley Harris (left) is chairman of Merchant Capital, LLC and Mike Dunn is president.

SMALL FIRM,

BIGRESULTS Merchant Capital competes successfully against Wall Street by David Zaslawsky

photography by Robert Fouts

Merchant Capital, LLC has been around for 25 years and during that time the regional investment banking firm has cultivated numerous relationships and investors. “We are the local guys that have the experience and the talent to get the deal done without dealing with a national company or Wall Street bank,” said Mike Dunn, president of Merchant Bank, which has its headquarters at Lakeview Center in East Montgomery. “These clients that we deal with – we live in town – we know them and they know us,” Dunn said, “and we have cultivated the talent to deliver the product.” The product is public finance and the clients are cities, counties, states, state agencies, water and sewer boards, hospitals, developers, public and private utility companies and all levels of education. “We are in these communities every day – working with local leadership on economic development issues and other community issues,” said Merchant Bank Chairman Thomas Ashley Harris, who has been in the bond financing business for nearly 35 years. “We’ve built lasting and trusting relationships with them over the last 25 years. The fact that we’re in the region and we built these trusting relationships, they (clients) feel like they can get quality service here without going to Wall Street. “When you deal with a regional firm like us that has got this type of a track record – you’re dealing with senior people. On Wall Street, you typically will not be dealing with a senior person at this level.” That’s one of the reasons that Merchant Capital has been so successful and competitive with much larger firms. First of all, Merchant Capital will handle the small deal – a $1 million deal, but the firm’s largest deal is $500 million. Dunn said the firm’s average transaction is between $10 million and $20 million whereas some Wall Street firms won’t touch a bond deal worth less than $100 million. “One of those things with our model is that we are able to give those clients that want to do a $1 million deal the same amount of service that we give a client that does a $500 million deal,” Dunn said. Five of the firm’s six original partners still work at Merchant Capital and that experience and talent have made the firm one of the top in the country. “It all really gets back to people first and man-for-man we think we’ve got as talented and as motivated and as experienced a group as there is in the business and we’ve been together over 25 years,” Harris said. “That is the most compelling reason why we’ve been successful – is the longevity and the relationships we have inside the firm and the culture here about serving clients with integrity and forthrightness and with speed and accuracy and things that communities and issuers rely on.” Merchant Capital ranked second last year and first in 2011 – nationally – for financing affordable housing deals. “It’s just really a good fit for us,” Dunn said about the affordable housing sector. “Most of the projects range from $5 million to $50 million – kind of our sweet spot as far as the size of the financing. It’s been a great growth sector in the last few years.” Harris said the sector will “be robust for the foreseeable future.”

Merchant Capital, LLC Number of employees

30-plus Founded

1987

Total bond financings

$32 billion-plus 2012 results

Senior manager of 115 different issues, totaling about $1.6 billion Notes

The firm is typically the senior manager of between $1 billion to $2 billion issues a year, representing 80 to 120 transactions. For the past 19 years, Merchant Capital has been ranked No. 1 for firms headquartered in Alabama. Much of Merchant Capital’s recent activity has been refinancing issuers’ transactions from eight to 15 years ago, saving hundreds of millions of dollars because of today’s historically-low interest rates. Such entities as cities have used bond underwriters to refinance their debt at much lower interest rates. Merchant Capital notifies clients of opportunities to refinance and performs a credit assignment. “We work with the client to present their case to the rating agency and the investors in the best light,” Dunn said. The firm sends out information to potential investors in advance of the pricing. He said it typically takes about two hours to take orders for the bonds. “There is a remarkable amount of money out there chasing these transactions,” Harris said. The investors interested in municipal bonds know that Merchant Capital is one of the top firms in Southeast. “If we don’t find them – they find us because they see the issue we are underwriting,” Dunn said. As interest rates rise – and it’s just a matter of when – that may slow some of the refinancing deals, but there will be other opportunities for Merchant Capital because there will be deals to finance new projects from all the pent-up demand. Merchant Capital has already been heavily involved in financing educational facilities and if you drive around Montgomery, you’ll see construction and newly completed projects at Alabama State University, Auburn University at Montgomery, Faulkner College and Huntingdon College. Actually, Merchant Capital managed issues totaling $43 million for ASU last year. When it comes to the municipal bond sector, Merchant Capital is not only No. 1 in the state, but No. 29 nationwide (by dollar amount). The company decided back in 1990 to concentrate on public finance after having focused on corporate-type finance. The company managed bond issues totaling $75 million last year for the City of Montgomery; $33 million for the Montgomery Water & Sewer Board; and $10 million for Montgomery County. •

May 2013 Montgomery Business Journal

From Livable to Lovable Author encourages the community to transform Montgomery by David Zaslawsky

Author Peter Kageyama reminded men attending his speech about the importance of giving love notes to their partner. Kageyama said a love note with a gift makes that gift much more special. “When we put the note with a gift it says we’ve connected emotionally – we’ve been thoughtful about it,” he said at an Auburn University at Montgomery Business Breakfast. Kageyama, the author of “For the Love of Cities” and a renowned expert on community development, said that those love notes are “one of those personal connections. A small thing has an outsized impact about how that person feels about the gift and by extension the way they feel about you. “I believe that there are love notes that cities give to their citizens and occasionally there are love notes that citizens give back to their cities.” He said that The Alley is a love note “because people would say, why do we care? You spend this money on The Alley to kind of move you and … it’s exceptional. You remember it. And there is some great stuff in it. This is a pretty cool alley. It’s a small thing in the grand scheme of Montgomery, but it says something about the way you feel and your intentions.”

Montgomery Business Journal May 2013

“Maybe they don’t speak the same language that we’re used to. Maybe they don’t look quite the same – they’re wearing different kinds of clothes; their He said that traditions hat is on sideways; and rituals are important they have tattoos and to communities and piercings. It is up to suggested that Montgomery Peter Kageyama us to embrace these needs something. At an afternoon people – to become workshop facilitated by Kageyama, part of the solution. We don’t have to know attendees suggested the creation of a goat what the end game is.” race on Dexter Avenue, which is known as He said college students will stay in a Goat Hill. Other suggestions, according to community only if they feel they can the Montgomery Advertiser, were a biscuit make a difference and they will with their food fight and a project to put color on enthusiasm and exuberance if they are Dexter Avenue with posters, balloons and given an opportunity. colored sidewalks. Montgomery’s minor league baseball team also did something that drew attention – they are called the Biscuits. “Who knew a biscuit could make a city lovable?” Kageyama said.

He called Dreamland Bar-B-Que in downtown Montgomery a good tradition and people remember it even though there are other locations in the state. “Montgomery is a city with lots of great stuff going on … lots of momentum – lots of very positive things,” said Kageyama, who encouraged those in attendance to incorporate some creative things. “Let’s recognize that the solutions to our city’s problems may not look like the solutions we’re used to dealing with in the past and the solutions’ providers may not look like the ones that walked through our door in the past,” he said.

The goal is to make the community more fun; more interesting; more exciting; and surprise and delight people – close the gap between “the city we desire and the city we can afford.” He said that statistics have shown that communities that have the highest levels of “passionate, loyalty, citizen engagement also have the correspondingly highest levels of local GDP and economic vitality.” He talked about the importance of making the community bike-friendly, pedestrianfriendly and dog-friendly. “The goal should not be just to make livable cities, which is a good goal,” Kageyama said. “The goal should be making something truly lovable because that speaks to our heart; and speaks to our aspirations; and speaks to who we are and actually speaks to the type of city I believe that all of us want to live in.” •

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Retailers, developers take serious look at East Montgomery by David Zaslawsky photography by Robert Fouts

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Auburn University at Montgomery has a new Wellness Center (right), a new dorm under construction (above) and plans for a new academic building that will have classrooms and science labs. Far Right: New Park High School is under construction in East Montgomery.

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Montgomery Business Journal May 2013

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Imagine some of the big-box retailers that have stores in Birmingham, but not Montgomery. Those stores include clothing, sporting goods and grocery and some will likely come to Montgomery perhaps as soon as this year. “There are big things in the works,” said Chad Emerson, director of development for the City of Montgomery. We’re talking about large, big-boxes that are not here that are looking to come to Montgomery. That’s very significant.” The retailers are looking at East Montgomery and Emerson said that some retailers are looking “with a new level of seriousness as they see continued reinvestment of Montgomery as a whole.” In particular, the EastChase area is an attractive region for retailers because of its powerful annual average household income of

$100,000-plus within a mile radius of EastChase; an annual average household income of $90,000-plus within a three-mile radius; and an annual average household income of $75,000-plus within a fivemile radius. Buying power is certainly an important factor, but the area is growing and developers/ retailers have seen that growth and investment, including: > Construction of Park Crossing High School. > A new Wellness Center at Auburn University at Montgomery as well as a new dorm under construction and plans for a new academic building that will have classrooms and science labs. > The new Emory Folmar YMCA Soccer Complex near AUM. > A planned Carmike Cinemas on Chantilly Parkway. > A new 100,000-plus square-foot Veterans Administration clinic on Chantilly Parkway near Home Depot. CONTINUED ON PAGE 17

May 2013 Montgomery Business Journal

City officials look to revitalize Midtown by David Zaslawsky The model to redevelop and revitalize downtown Montgomery has been so successful that city officials are replicating that model to Midtown. It all starts with getting stakeholders to buy into a redevelopment plan so they will be engaged and involved in solutions, said Montgomery Deputy Mayor Jeff Downes.

Montgomery Deputy Mayor Jeff Downes

â&#x20AC;&#x153;We as a city cannot sit back and let these areas deteriorate,â&#x20AC;? Downes said. â&#x20AC;&#x153;We have to have plans and efforts to revitalize them and breathe new life into these areas. We are steadily moving every day to push that forward.â&#x20AC;? One of the goals is to bring 10 new homes to the Hull Street corridor using Neighborhood Stabilization Dollars and working with the Montgomery Housing Authority. He said that building those 10 homes, coupled with the redevelopment of the housing authorityâ&#x20AC;&#x2122;s Richardson Terrace â&#x20AC;&#x201C; â&#x20AC;&#x153;all of these properties become more of an amenity than a detractor in the area. All of this will hopefully create momentum and as that snowball starts rolling down the hill, weâ&#x20AC;&#x2122;ll have more success built on other successes. All of a sudden, weâ&#x20AC;&#x2122;ll have the same things to a different degree â&#x20AC;Ś as we have in the downtown planning areas.â&#x20AC;? Downes said that the Centennial Hill area has â&#x20AC;&#x153;great assetsâ&#x20AC;? such as Oak Park, Jackson Hospital and Clinic, Alabama State University and The Plaza at Centennial Hill, a $22.7 million project from the Montgomery Housing Authority. It is a 129-unit, mixed-income housing community. It will have both apartments and townhouses. â&#x20AC;&#x153;The Plaza is the first step in changing the face of affordable housing in the city,â&#x20AC;? Montgomery Housing Authority Executive Director Evette Hester said in a statement. â&#x20AC;&#x153;We are proud to lead the development of this historic neighborhood and the quality of life of its future residents.â&#x20AC;? The Plaza at Centennial Hill, which replaces the demolished Tulane Court housing community, is the housing authorityâ&#x20AC;&#x2122;s first public-private venture. â&#x20AC;˘

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Montgomery Business Journal May 2013

CONTINUED FROM PAGE 15

“You don’t invest in a place that doesn’t have a lot of growth potential,” Emerson said. “They (developers and retailers) are starting to see major investment in Montgomery.” He actually gave some retailers a tour of the area and they walked around AUM and drove on Park Crossing, which connects Taylor and Ray Thorington roads. Two hotel chains not in the Montgomery area are looking at sites near AUM, which would be the first hotels in that area. A giant sign across from EastChase announces the future site of Chase Corner, which is being marketed by Aronov Realty Management “and there is a lot of preliminary interest there,” Emerson said. He said that all major developers in the area are looking at expansions and once Park Crossing High School opens in the fall and that area grows, “that is going to be in a lot of ways a game-changer.”

Chipotle Mexican Grill is coming to EastChase and Genghis Grill has already opened at EastChase. Those restaurants attract a moreupscale customer and that makes an impression on other retailers, according to Emerson. He said if a Chipotle selects EastChase then other retailers will take a second look or first look at the same area. He said that 10 years ago that’s what happened when Starbucks came to Montgomery. “Other businesses thought if Starbucks was here maybe we should be here,” he said. White House Black Market, which is new to the market, was scheduled to open in April at EastChase and Sephora is coming to East Montgomery, according to Emerson. It’s important that new retailers come to Montgomery to plug the leakage of local shoppers having to go to other areas for those stores. Emerson expects many more announcements of store openings from now through the end of the year if the economy continues to improve. •

“There are big things in the works. We’re talking about large, bigboxes that are not here that are looking to come to Montgomery. That’s very significant.” Chad Emerson, director of development for the City of Montgomery

May 2013 Montgomery Business Journal

BB&T recently held a ribbon cutting for its move to downtown Montgomery and the RSA Dexter Avenue Building. Top executives at the ribbon cutting included (from left) vice presidents Janna Davenport and Kevin Solis; Jodie Hughes, regional president; Guy Davis, city/area executive.

Banking on Downtown Move BB&T celebrates new home near Capitol by David Zaslawsky

photography by Robert Fouts

Tens of thousands of people work in downtown Montgomery and thousands more live within a 5-mile radius of downtown. That sounds like a good place for a bank and was one of the reasons that BB&T moved its regional headquarters from the Interstate Office Park off the Interstate 85 Perry Hill Road exit to the 12-story RSA Dexter Avenue Building downtown. “What we found down here from a branch standpoint is that we picked up some new clients who work in the downtown market, and now that we’re so close it has made it very convenient for them to bank with us,” said Jodi Hughes, regional president for North Carolina-based BB&T. The 141-yearold company has more than 2,400 ATMs and nearly 1,800 branches. “We’ve also found that some of our existing clients who previously banked with BB&T at another location in the market (see how it’s) convenient for them to visit us here at our new location. It was clear that this was the place for us to be. As we looked at our expansion opportunities, the downtown market seemed to be where the opportunities were. We are so glad to be down here and a part of the downtown scene.”

It’s helping us serve our clients better and also helping us develop new client relationships.” -Jodi Hughes, regional president for BB&T

The new location features a branch on the first floor of the RSA Dexter Avenue Building, which was formerly the old state judicial building. And what will be very important to customers are the 10 parking spaces in front of the building – free parking spaces. Upstairs on the eighth floor are BB&T’s new regional headquarters and that includes the commercial lending unit and the wealth management unit. Before moving into the

CONTINUED ON PAGE 20

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CONTINUED FROM PAGE19

downtown building, BB&T’s units were spread out at several locations in Montgomery. That’s a big plus for the 40 employees, who work upstairs. The move to downtown “gave us the ability to bring a lot of people together under one roof and increase the amount of collaboration that goes on between (those people), Hughes said. “The benefit has been increased communication among the various lines of business. It’s helping us serve our clients better and also helping us develop new client relationships.”

“We are so glad to be down here and a part of the downtown scene.” -Jodi Hughes, regional president for BB&T

Montgomery Business Journal May 2013

Hughes said it was exciting being downtown and around all the activity that’s going on. The bank looked at several downtown sites before deciding on the nearly 350,000-square-foot RSA Dexter Avenue Building. “The proximity to the Capitol did help,” Hughes said. “There’s always something going on in this area.” He also liked the idea of being able to design the space the way BB&T wanted. “We put our sign up on this building and we put our stake in Montgomery,” said Guy Davis, city/area executive for BB&T. “We’re here and we’re glad to be here.” •

Developing

Doctors New regional medical school taking shape by David Zaslawsky

The Montgomery Regional Medical Campus is scheduled to open in one year with 10 students and the program is quickly moving forward with the curriculum and a site at Baptist Medical Center South. The 10 third-year medical students will spend eight weeks in the following programs: family and community medicine; surgery; internal medicine; obstetrics and gynecology; and pediatrics. Two of the rotations â&#x20AC;&#x201C; neurology and psychiatry â&#x20AC;&#x201C; will be four-week sessions.

In two years, there will be 20 third-year medical students studying in Montgomery and 10 fourth-year students. Those fourthyear students will have three internships in internal medicine; ambulatory medicine; and either surgery or critical care. The internships in internal medicine and ambulatory medicine will be in Montgomery. The students will have 24 weeks of electives, which can be taken in Montgomery or elsewhere. CONTINUED ON PAGE 22

May 2013 Montgomery Business Journal

“I think that industry recognizes that quality medical care is much more likely to be associated with teaching hospitals.” Dr. Wick Many, Jr., dean of the Montgomery regional medical school

Dr. Wick Many, Jr.

The new regional medical campus will be located on the third floor of a building adjacent to Baptist South. A computer lab, student lounge and call rooms for students to sleep in are being constructed while the current office space is being reconfigured.

regional dean – Dr. Wick Many Jr. – there will be four other full-time employees: director of student and academic affairs; clerkship coordinator; office associate; and medical librarian. Two people will oversee the seven clerkships (rotations), but Many said the campus may eventually have a director for each of the clerkships.

The majority of the faculty will be physicians in Montgomery and in addition the school’s

The regional medical campus of the University of Alabama School of Medicine

CONTINUED FROM PAGE 21

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Montgomery Business Journal May 2013

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will elevate the quality of health care in the River Region, according to Many, who was the program director of the UAB Internal Medicine Residency program, also at Baptist South. â&#x20AC;&#x153;You will see a profile of physicians who are very similar to what you see in Huntsville, Birmingham and Mobile, where there are medical schools and people are remaining there to practice within a close geographic proximity,â&#x20AC;? Many said. He said those third- and fourth-year medical students who also attend residency programs in Montgomery would have developed a five-year relationship with their patients. Many called it a â&#x20AC;&#x153;continuity of care,â&#x20AC;? which he said is high-quality health care. Another benefit is the relationship that those students have with one another. â&#x20AC;&#x153;You are really developing a cadre of physicians who have worked together and who are aware of each individualâ&#x20AC;&#x2122;s unique strengths and abilities so that youâ&#x20AC;&#x2122;ve become cognizant which surgeon perhaps does the best thyroid surgery and which surgeon does the best

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Hospitals that participate in medical education provide a higher level of care, Many said. He said those young, inquisitive minds force their instructors to be â&#x20AC;&#x153;aware of the most current, state-of-the-art medicine; evidenced-based medicine â&#x20AC;&#x201C; because if you are being challenged by young learners you will naturally seek out and continue your own education.â&#x20AC;? The local medical school campus â&#x20AC;&#x153;will foster an environment in which all physicians and other health care professionals will be stimulated to maintain their own level of superior confidence.â&#x20AC;? The Montgomery regional medical campus will ultimately increase the number of the physicians in the region; the number of primary care physicians; and reduce the average age of physicians to reverse the current trends of a physician shortage and an aging physician force.

If those third- and fourth-year medical students stay in Montgomery for their residency programs, they are likely to practice in the region, Many said, because they have bought a house; their spouse has a job; and their children are attending school. In some cases there are physician couples, Many said, referring to a physician and the spouse wanting to teach at a medical school. He said that having a medical school not only attracts physicians, but just as important, it helps retain physicians. It also helps to attract companies to the area. â&#x20AC;&#x153;I think that industry recognizes that quality medical care is much more likely to be associated with teaching hospitals,â&#x20AC;? he said. â&#x20AC;&#x153;â&#x20AC;Ś When they are looking at areas to place their plants or their companies or their businesses they recognize that first off the quality of care will be at a higher level and second there will be availability â&#x20AC;&#x201C; access to care. These teaching hospitals such as Baptist Medical Center South are producing new physicians for the community.â&#x20AC;? â&#x20AC;˘

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May 2013 Montgomery Business Journal

Investor Member Profile BUSINESS BUZZ (CONTINUED FROM PAGE 63)

Jimmy Stubbs is president of River Bank & Trust.

Truly Local River Bank & Trust emphasizes ‘community’ banking by Jennifer Kornegay

photography by Robert Fouts

In life, it’s often the little things that make a big difference. The same is true in banking, according to Jimmy Stubbs, president of River Bank & Trust.

“We are a locally owned and operated community bank, and it’s the little things that we are doing right,” he said. “You won’t get voicemail when you call us; you’ll get a live person. When you come in, we’ll know your name, and we’ve got complimentary cookies, drinks and coffee in our lobbies.” In another neat touch, when the weather is warm, drive-thru customers get a windshield wash on Fridays at some of the branches. The largest of only a few locally owned banks in the area, with 80 employees and $400 million in total assets, River Banks’ headquarters are in Prattville, with an additional branch there, one in Wetumpka, one in east Montgomery, and its newest branch that just opened in downtown Montgomery in January.

Stubbs also outlined the importance of real, live interaction, especially in today’s technology-driven transactions including mobile banking. “We offer all of that, but there is still a lot of value in being able to call your banker on the phone or come in and sit down with him and talk through something – you can do that easily here,” he said.

The bank marked its seventh year in operation in April, and while those “little things” certainly matter, it’s taken more than a batch of fresh-baked cookies for the bank to prosper in the middle of an economic downturn.

The River Region has been a good fit for River Bank and for Stubbs, a fact that he is happy to point out. “I’ve been in banking since 1985, and I’ve had opportunities to move, but I’ve always felt that the River Region was a great place to live and to raise a family, and that the opportunities to do business and make a living here are just as good as anywhere in the country,” he said. “I would not want to be anywhere else.”

Stubbs believes the “community” in community bank is another key component. “When we organized the bank, in order to get our capital, we allowed individuals in the River Region the opportunity to be a part of that investment, and sold stock to about 400 shareholders,” he said. “Our ownership is truly local, and that means all of our decisions are made here. This is especially important to a businessperson.” Wise choices have also kept River Bank rolling along. “We have a good board and management team that understand the banking business,” Stubbs said. “We’ve been very conservative and prudent in our decision-making process and think through opportunities and requests, always trying to do what is good for the bank and good for our customers.” River Bank has grown steadily since its founding in 2006 and sees more growth in the future, with plans to open a branch in Millbrook in a few years and maybe a third location in Montgomery – but Stubbs stressed the need for balance. “We are the only community bank that serves the entire River Region, and we are the largest community bank, but bigger is not always better,” he said. “As we grow, we do not want to get so big that we no longer offer the level of service that sets us apart.” Stubbs’ goal is to find the happy medium between growth and staying true to the bank’s values.

That’s one reason River Bank and its employees get involved in community efforts, donating time, money and resources to contribute to organizations such as the United Way, to local arts groups and local sports programs. “You’ll find our dollars and our people all over the River Region,” Stubbs said. Proving this, last fall, River Bank & Trust was honored with the Montgomery Area Business Committee on the Arts Award in the medium business category.•

River Bank & Trust Year founded

2006

Number of employees

Headquarters

Prattville

Number of branches

Awards/honors

Rated 5 Stars for the last few quarters by Bauer Financial, an independent rating agency that grades banks on safety, with 5 stars being the best rating. www.riverbankandtrust.com

May 2013 Montgomery Business Journal

A world of

difference International companies and students bring creativity and innovation to the Capital City by David Zaslawsky

photography by Robert Fouts

difference

A British-born owner of a Mexican restaurant in East Montgomery caters meals to a Korean automaker, a Korean auto parts supplier and a Saudi Arabian company that manufactures pellets used in a wide variety of products. That’s what is going on in Montgomery today, not to mention the annual wave of international officers who study at Air University at Maxwell Air Force and Gunter Annex in Montgomery. Those officers represent countries from A to Z. The burgeoning Korean community in Montgomery has been well documented as has its impact from Hyundai Motor Manufacturing Alabama (HMMA); dozens of parts suppliers to HMMA; and scores of Korean business owners and Korean companies. That is only a part of the international community thriving in Montgomery. Did you know that fourth-graders from Wilson Elementary School are receiving weekly 40-minute lessons about Chinese history and culture and are even learning Mandarin – all at no cost, thanks to Auburn University at Montgomery’s Confucius Institute? There is also a Confucius Institute at Troy University. Chinese culture quietly surfaces at the annual Dragon Boat Races and last year AUM students performed the Dragon Dance during a street fair on Dexter Avenue. About 80 households are members of the Central Alabama Association for Chinese, including 10 to 15 households that are non-Chinese, according to the association’s president, Ying “Springna” Zhao. She said there are association members from Singapore, Malaysia and the Ukraine as well as members who are African-American and Caucasian. Although there is no Chinese business organization in the area, the Chinese community “is very tight and we support each other,” Zhao said. She said there are at least 30 Chinese-owned companies in the area, including restaurants, alterations, retail stores and manufacturing.

“A healthy and strong Chinese community is extremely important and plays a vital role in the business development for the state,” Zhao said. “There is interest in doing business in the U.S. and more so in the South because of great incentives and supportive government policies. The quality of life here is very attractive for a lot of Chinese people I speak to.” Kowa may not be a household name here, but the international conglomerate Kowa Co. Ltd., is well known in Japan with annual sales of more than $2 billion and nearly 2,000 employees. It is ranked in the Top 10 of over-the-counter pharmaceutical companies in Japan. Kowa Pharmaceuticals America, which was formerly ProEthic Pharmaceuticals before being obtained by Kowa, is the company’s sales and marketing headquarters and it’s right here in Montgomery. And that’s important because Japanese executives in Kowa talk to colleagues about the company’s experience in Montgomery. “With us being here, we hope this opens the gate to more pharmaceutical companies looking at Montgomery and looking to locate here,” CONTINUED ON PAGE 29

“There is interest in doing business in the U.S. and more so in the South because of great incentives and supportive government policies.” Ying “Springna” Zhao, president, Central Alabama Association for Chinese

A Chinese company – Golden Dragon – is investing $100 million in a copper tubing plant in the Black Belt’s Wilcox County – and will create at least 300 jobs and that number could rise to 500. China’s is the state’s No. 3 trade partner for exports ($2.4 billion) behind Canada ($3.9 billion) and Germany ($2.5 billion).

May 2013 Montgomery Business Journal

“I think it’s a positive for all the industries to be able to bring in different applicant pools and different people with diverse backgrounds and experiences that breeds creativity and innovation.” Gary S. Tsai, operations manager for Regitar USA Inc.

Bottom left: Ying “Springna” Zhao is president of the Central Alabama Association for Chinese. Bottom right: Ken Desai is the owner of Salsarita’s Fresh Cantina at Festival Plaza. Middle photo: Gary S. Tsai is operations manager for Regitar USA Inc. Top photo: Ben Stakely (right) is CEO of Kowa Pharmaceuticals America and Koji Tamura is the chief financial officer.

CONTINUED FROM PAGE 27

Kowa Pharmaceuticals America CEO Ben Stakely said, referring to Montgomery Industrial Park in East Montgomery. “At the same time, I’m hoping our presence here as a Japanese company encourages other Japanese companies to look at Montgomery,” Stakely said.

There are companies from France, Brazil, United Kingdom, Ireland, Spain, Switzerland and Taiwan that operate in the Montgomery market. Gary S. Tsai is operations manager for the family-run Regitar USA Inc., which sells after-market auto parts and power tools. It is a Taiwanese company. “I think it’s a positive for all the industries to be able to bring in different applicant pools and different people with diverse backgrounds and experiences that breeds creativity and innovation,” said Tsai, who grew up in Montgomery and attended Montgomery Academy, where he and his brother were the only Asians. When he attended a recent Montgomery Academy alumni event, there was a diverse crowd. “In today’s world it’s a global market,” Tsai said. “You can’t ignore that no matter what field it is, one thing in Nebraska is going to affect something in Singapore, which affects something in the U.K. International companies bring a completely new viewpoint.” AUM Chancellor John Veres III embraces those completely new viewpoints. “As the

world keeps getting smaller, I think it’s important for our Alabama students to have the opportunity to interact with people who have come from different cultures and have a somewhat different world view than they do,” he said. “They are going to have to work with people who are different than they are in terms of their orientation and their culture. I think it’s a strategic advantage for our American students – our Alabama students – to have the opportunity to interact with those (international) students.” A group of AUM students visited China last September and another group went to Italy last summer. “We’re trying to graduate Alabama students who have a broader understanding of the world in the context in which things occur internationally,” Veres said. About 275 international students attend AUM and 110 to 120 of those students are Chinese. Veres said that about 85 percent of the Chinese students study a business discipline. Other popular majors CONTINUED ON PAGE 30

John Veres III is chancellor at Auburn University at Montgomery.

May 2013 Montgomery Business Journal

Learning to appreciate our own differences You may not realize it, but international students can teach American students a thing or two about America. Auburn University at Montgomery Chancellor John Veres III recalled a conversation with an Argentine student. That student said that Americans do not appreciate how the legal system works here compared to other countries. “International students repeatedly tell me that the law in the U.S. works more effectively to protect citizens from the rich

and powerful than it does in their own countries,” Veres said. “That’s something they learn about us that we don’t really know about ourselves because it’s status quo for us. Talking to international students can give you a new appreciation for the things that are really right about America. “By and large in other countries, the rich and powerful never lose to the poor and powerless. Just having them (international students) here and hearing their perspective on the U.S. helps us gain a new perspective for what a wonderful country this is.” - David Zaslawsky

Montgomery Business Journal May 2013

CONTINUED FROM PAGE 29

for international students are information systems, management and marketing. The university recruits international students and they have become “a source of tuition revenue,” Veres said. International students at AUM pay three times the in-state tuition of $8,000. Other universities charge at least double. “The other thing is they are great students,” Veres said. “They are not a random sample of their country’s population. The students tend to be bright and have a lot of gumption to be willing to go overseas to pursue their educational goals.” One of those students was Ena Park, who received a master’s degree from AUM. She speaks both Korean and Chinese and is a lead member of management coordinating services to Korean and Chinese clients of Hodges Commercial Real Estate/Warehouse + Logistics. “It makes it easier for them to communicate with their customers,” Veres said. “It makes it easier for us to do business with our trading partners if you have someone who speaks the language.”

Zhao pointed out that China is one of America’s largest trading partners and is the No. 1 market for such international companies as Apple, Google, Microsoft and Johnson & Johnson. “A lot of American business owners I know would love to enter that market.” She suggested that businesspeople get to know the local Chinese community and learn how they think; their culture; and their value system. Ken Desai is that British-born owner of Salsarita’s Fresh Cantina at Festival Plaza in East Montgomery. His parents are Indian and he is a Hindu. “If you’re a business owner and you’re going to do business with another businessperson it really doesn’t matter what their background is,” he said. “You’re just trying to see what the best deal for you is and how is this guy going to help me improve my business and vice versa.” There is a small Hindu community in Central Alabama of 150 to 200 families, who get together for festivals and picnics. There is an adult cricket team and a youth cricket team. That does not sound like the old Montgomery that Tsai remembered when he was growing

up. “In a way, Montgomery was kind of stuck in bubble,” he said. “Leaders were stuck in their ways and ideas.” He said that Montgomery has become “more accepting to different groups.” All those international companies have “opened up the world for people that have been here their entire lives. They see it’s a much bigger world out there.” For Zhao, the United States became a super power because it’s a melting pot. “We absorb top talent from all over the world. When we get diversity – when you

learn how other cultures are different – you broaden your horizon. When you’re thinking in other people’s ways you are more likely to communicate better and have better marketing strategies and political policies and education system. All of that has a huge impact on our future generations and to the world as a whole.” That cultural diversity makes Montgomery a more “exciting and enjoyable place” for Stakely. He said that children benefit from being exposed to international children. “There are some kids from Sweden at our school. My children are fascinated by that.” •

“When you learn how other cultures are different, you broaden your horizon.” Ying “Springna” Zhao, president, Central Alabama Association for Chinese

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May 2013 Montgomery Business Journal

Lt. Gen. David Fadok is the commander and president of Air University.

Keep Calm and

CARRY ON Air University at Maxwell Air Force Base produces the future with education, research and outreach. by David Zaslawsky

photography by Robert Fouts

Air University facts Number of annual graduates

More than 80,000 resident and 155,000 non-resident officers, enlisted and civilian personnel each year.

Number of international officers

166 representing 73 countries

Number of faculty

804 military and 367 civilian faculty, including the Air Force Institute of Technology.

Percentage of all officers commissioned through the Air Force Officer Training School

47 percent

Percentage of all officers commissioned through Air Force ROTC

33 percent

Lt. Gen. David Fadok is the commander and president of Air University at Maxwell Air Force Base and Gunter Annex. He was recently interviewed by Montgomery Business Journal Managing Editor David Zaslawsky Montgomery Business Journal: What is the mission of Air University? Fadok: Our mission is captured in four simple, but powerful words: We produce the future. We do so through a variety of different activities that you can probably bend into three areas: education, research and outreach. We believe that our mission is a critical one for the United States Air Force. In the Chief of Staff of the Air Force’s 2013 vision he states pretty clearly that education and training are the foundation of our nation’s air power advantage. Our objective is to not just discipline the minds of the students who come here for education, but also inspire their hearts. I believe that we are the greatest Air Force that the world has ever seen because we invest a tremendous amount of resources into the force development of our people and education is one of the three pillars of force development, along with training and experience. MBJ: You are the first to have the titles Air University commander and president. Why the addition of the president title and what does that mean? Fadok: I am the 29th commander, but firstever president. The addition of president to the duty title was actually a recommendation from a board of visitors to the Secretary of the Air Force. They convinced him to change the duty title. I think it’s appropriate. It reflects the dual nature of the Air University. We are a military organization first and foremost. That explains the commander part of the duty title, but we are also an accredited academic institution, which explains the president (part of the duty title). As president, I have degreegranting authorities that range from associate degrees from the largest community college

Montgomery Business Journal May 2013

in the world, which is the Community College of the Air Force; all the way up to PhDs on both the technical side of the house and the non-technical side of the house. We are accredited through the Southern Association of Colleges and Schools. MBJ: How do you navigate being president of a university and commander of a military organization? Fadok: I see it as two sides of the same coin. We are a dual-nature organization and there are certain aspects of my job that are very military in nature. When you’re talking about breaches of conduct – I have to handle those. I have authorities through the Uniform Code of Military Justice and those authorities are really command authorities more than they are university president authorities. At the same time, we have issues within Air University that are very academic in nature. I don’t see them in competition with one another. Given the dual nature of the university, they complement each other, but there are some issues that are in the commander lane and other issues in the president lane. I don’t see them as clashing. MBJ: What does it mean to the community to have the Air Force’s intellectual and leadership center here at Maxwell? Fadok: A lot of folks that when they think about Air University and they think of Maxwell-Gunter – they think about the economic impact on the River Region, which is a pretty positive impact. I will tell you, having the intellectual and leadership center of our Air Force bed down right here in Montgomery should be a source of pride for the River Region as well. We have a significant influence on national security dialogue; on the operational mission success of our Air Force. Our roots as Air University – a lot of folks don’t know this – we are actually one year older than the United States Air Force. We opened our doors in 1946 and the United States Air Force became a separate service in 1947. Our roots are in the Air Corps Tactical School, which was here in the ’30s. Some of the greatest minds in our Air Force were part of the Air Corps Tactical School and they really had a significant influence on shaping how we were going to plan and execute air operations in World War II. We’re proud of those roots. We’re proud of the vision that we have to become the intellectual and leadership center and I would hope that that is a source of pride, too for the City of Montgomery and the surrounding region

MBJ: Why is the education component so important to airmen? Fadok: It goes back to our previous discussion about the vision for 2013. At our most senior levels, our leadership recognizes the importance of education and training. Those are two very significant pillars of force development within our United States Air Force. The investment we make in our people is what makes us the greatest Air Force this world has ever seen. For our chief to recognize that in the vision statement – to say that this truly is the foundation of air power advantage – would suggest why I believe in the importance of education. MBJ: In an article in the Montgomery Advertiser, you talked about your adopted slogan borrowed from the British in World War II; “Keep Calm and Carry On.” What does that slogan mean to you? Fadok: I first ran across it a couple of years ago. My wife and I were watching a “60 Minutes” episode and I don’t recall what the episode was about, but it featured two British individuals and one was sporting a T-shirt that had “Keep Calm and Carry On.” It was about a month into my taking over as commander and president and I was feeling the stresses that come with this job. When I saw that it really struck a chord with me – what wonderful advice to follow. After “60 Minutes” was over, I went ahead and Googled it just to find out more of the background. It was a poster that the British government developed and distributed to their people in 1939. The United Kingdom at that time was in fact facing an existential threat. And while we have our challenges in the Air Force from a resourcing standpoint, we don’t face an existential threat. I thought that was a wonderful example the British senior leadership set and one that I would want to follow and that is, despite the challenges that we face as the senior leader here – keep calm and carry on through those challenges. It is certainly something I’ve asked our other senior leaders within Air University to do because folks will feed off your attitude. If you want to create a frenzied environment you can very easily do that as the senior leader by being panicky. I think it’s very, very important just from an attitude perspective to follow that advice of keeping calm and carrying on because we will

Air University Centers, Schools and Organizations

Air Force Institute of Technology (Wright Patterson AFB, OH) Air Force Research Institute Air University Press Air Force Fellows Carl A. Spaatz Center for Officer Education Air War College Air Command and Staff College International Officer School Squadron Officer College

National Security Space Institute (Peterson AFB, CO) Jeanne M. Holm Center for Officer Accessions and Citizen Development HQ Air Force Reserve Officer Training Corps HQ Air Force Junior Reserve Officer Training Corp Civil Air Patrol - United States Air Force Air Force Officer Training School

Academic Centers

Muir S. Fairchild Research Information Center (formerly AU Library)

Air Force Public Affairs Center of Excellence

School of Advanced Air and Space Studies

Air Force Counterproliferation Center

Thomas N. Barnes Center for Enlisted Education

Air Force Culture and Language Center

Air Force Career Development Academy

Air Force Negotiation Center of Excellence

Air Force Enlisted Heritage Research Institute

Air Force Center for Strategy and Technology

Air Force Senior NonCommissioned Officer Academy

Curtis E. LeMay Center for Doctrine Development and Education

Community College of the Air Force

Squadron Officer School

Ira C. Eaker Center for Professional Development Commander’s Professional Development School Air Force Chaplain Corps College (Ft. Jackson, SC)

Enlisted Professional Military Education Academic Affairs Air Force First Sergeant Academy Note: Some of the schools are part of Air University, but located elsewhere Source: Air University (Maxwell Air Force Base and Gunter Annex)

Air Force Personnel Professional Development School Defense Financial Management and Comptroller School

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May 2013 Montgomery Business Journal

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get through this. Our secretary has said that even with this sequestration – we entered this situation as the finest Air Force in the world and he fully intends to exit this situation as the finest Air Force in the world. I’m confident that we will do just that. MBJ: That’s a perfect segue to my question about sequestration and how it will impact Air University. Will there be fewer courses and fewer students? Fadok: In terms of the sequester itself, some of the potential impacts at Air University would entail not just our civilian faculty, but some of the civilian students, who are attending schools here as well. The current plan if executed is to basically institute a civilian furlough in the late-April time frame that could practically result in our civilian faculty and students having one day each week out of a five-day work week – they would be in what we call a non-duty, non-pay status. For them, 20 percent of their income will be lost between now and the end of the fiscal year. That’s an impact not just on those individuals, but also on the River Region because there will be fewer dollars in their pockets to spend. MBJ: If you lose a civilian professor one day a week, how do you keep the class going? Fadok: We asked for the maximum authority and flexibility to manage this. We will ask our higher headquarters not to say, ‘we want all your civilians to take every Friday off.’ I’m going to leave it to the discretion of my subordinate commanders to manage their faculty and their civilian students as they see best in order to minimize impact on production. That’s the key. As I told you in our mission statement we produce the future so this is all about student production. MBJ: If you are able to stagger the furlough days would you then be able to keep all the courses that Air University currently offers?

Fadok: There is a possibility that as part of the sequester they may ask us to reduce our student throughput. We could conceivably be told to shut down one or two courses to try to realize some savings. That would not be my preference. And quite honestly, I hope we would follow the very positive example set by our forefathers in the inter-war years. They were facing a depression and through the depression our most senior military leaders made a conscious decision to keep education going because they recognized it as an investment in the future. While they were facing very, very severe economic constraints and the like, they made a conscious decision to continue to invest in force development because they knew that would eventually pay dividends. Sure enough, those who we chose to educate in the inter-war years turned out to be our most senior and successful leaders in World War II. MBJ: Maj. Gen. Walter Givhan talked about Air University at an Eggs & Issues and said, “… one of the easiest things to cut is education because you don’t feel it right away, but you will feel it soon enough. The strategic effect will be even greater and the bad news is you

can’t catch up.” He said that with all the schools at Air University there is a synergy and center of gravity that you can’t replicate when schools are in different areas. Fadok: That’s exactly right. I had the opportunity at an out-of-cycle meeting with the Chairman of the Joint Chiefs of Staff and he called together all of his senior educators from across the services. At a roundtable discussion that occurred afterward, I expressed to him a challenge that I face as an educator and that is being able to speak in terms that our programmers care about. The way we program in our United States Air Force and really across all services – we program across a time span that’s known as Future Years Defense Program – a fiveyear plan. That’s how we plan – in five-year increments. I raise that because it gets to Gen. Givhan’s point. Educational benefits or the risks associated with the cuts to education do not manifest themselves in the next five years. They manifest themselves 10 to 15 years out. The reason why Gen. Givhan would say education is an easy take because it really is in the eyes of folks who program and have a five-year outlook. If it’s low-hanging fruit,

Between Hap Arnold’s ‘we must think in terms of tomorrow’ and the British ‘keep calm and carry on’ – those are my guiding slogans each and every day in this job. - Lt. Gen. David Fadok, commander and president of Air University

Montgomery Business Journal May 2013

they feel they can accept that risk because it won’t manifest itself until well outside that five-year time frame. It’s a challenge I face when I’m talking to programmers and I’m trying to communicate that ‘you need to be very, very careful about cutting education.’ It’s difficult for me to make a compelling case because it’s very difficult to really quantify the benefits of education and they are very quantitative-kinds of thinkers. MBJ: During the command ceremony in 2011, you said you would be guided by the words of General of the Air Force Henry “Hap” Arnold: “We must think in terms of tomorrow.” Aren’t all the courses and training at Air University about the future? Fadok: It’s all about tomorrow. Hap Arnold was one of those senior leaders in the interwar years that recognized the importance of continuing to invest in education and training despite the resource challenges they were facing in the 1930s. When an individual like that says that we must think in terms of tomorrow that’s exactly what I believe we need to do and I think we are doing as a United States Air Force. We have to think not just about the immediate economic crisis that we face – we have to think strategically about the future. This challenging situation may not last forever that we face right now, but we want to be postured if the situation reverses itself. We want to be postured with leaders of character who can think critically, innovatively and strategically and that’s all about the business that we are in here at the Air University and that is educating those future leaders to better prepare them and posture them for success. Between Hap Arnold’s ‘we must think in terms of tomorrow’ and the British ‘keep calm and carry on’ – those are my guiding slogans each and every day in this job. MBJ: In an interview with the Montgomery Advertiser, you called yourself “a glasshalf-full kind of person” and that you saw an opportunity to change “the way we do business.” Please elaborate. Fadok: My boss, Gen. (Edward) Rice, who is the commander of Air Education and Training Command, has written an article and I’m going to paraphrase here. He basically said he’s confident that we’re going to have the resources to carry out our mission, but he’s not confident that we’re going to have enough resources to conduct our mission in the same way we’ve done in the past. This

gets to the glass half-full. Yes, we have a challenging resource situation we’re facing right now, but that challenging resource situation actually – as he puts it – is a oncein-a-generation opportunity to change the way we do business – education and training. We are exploring very innovative new ways to educate airmen. MBJ: What are some of those new ways? Fadok: We’re looking at civilian universities around the world and they’re moving out with the use of what they call blended learning, which is a combination of self-study and facilitated distance learning online and then your traditional classroom instruction and blending that into a different approach. It may enable us to perhaps reduce the time that an individual is sitting in a traditional brick-andmortar classroom and they can be doing a hunk of their education online. MBJ: Is it just as effective? Fadok: We believe it can be and the research suggests it is more effective. Interestingly, we have both practical and theoretical proof of that. We have over at Gunter Annex, changed our First Sergeant Academy into a blended learning experience. Before, it used to be three weeks in the classroom, and we now do two weeks in the classroom and the other week of curriculum is actually taught via facilitated distance learning over the course of a month before the future first sergeants in our Air Force even get to school. We’ve only done three classes so far – we are early on in the game – but our faculty is saying that the end product – the graduating first sergeant that is coming out of this blended learning experience is at a higher level than one who would have just done (three weeks of classroom). MBJ: Is that because of that month-long preparation?

approach where you mix up facilitated distance learning and residence. They came to the conclusion based on their research and their analysis that the blended learning approach would be the most effective, which I found fascinating. That’s what we’re beginning to discover. MBJ: How do you define success for 2013? Fadok: Our boss, Gen. Rice, tapped all of his subordinate commanders to highlight the top three to five issues that will define my agenda for the next year. Those issues that I identified were educational transformation and the second piece is something that our Chief of Staff Gen. (Mark) Welsh had mentioned. He recognizes, because he has been stationed here before, the intellectual capital that exists down here at Air University. He wants to be able to tap into that intellectual capital to do research for him; analysis for him; and strategic thought for him. So that would be a second project if we could really formalize a process through the folks on the Air staff to tap into the brain power that exists down here. That would be wonderful. The third area is more practical. We have a big inspection coming up for the air base wing and Air University. It’s what we call a compliance inspection. They come in and assess how well we’re doing in terms of complying with Air Force and Department of Defense guidance rules and regulations. It’s all about details. That inspection is coming up in a September time frame and the last time we were subjected to this look we got an excellent. I’m a former inspector general and I know just how difficult it is to get excellence on compliance inspections. I would like to repeat that performance and perhaps even get an outstanding. If we could make advances in all three of those areas I would consider it a successful 2013. •

Fadok: Exactly right. I think that they come into the classroom at a higher level and better prepared to then absorb what we teach in the classroom. We have that practical experience and just recently – the last class of the Squad Officer School – we created this new thing called the company grade officer think tank. The very first topic we gave our captains to research was how would you best execute Squadron Officer School in the future? They looked at three different courses of action: pure distance learning; pure residence, which is what it is today; or a blended learning

May 2013 Montgomery Business Journal

Reporter’s Notebook by David Zaslawsky

MPS High School ranks #1 in the Nation US News evaluated more than 21,000 public high schools in 49 states and the District of Columbia, ranking them based on state proficiency standards and how well they prepare students for college. Loveless Academic Magnet Program (LAMP) High School was ranked #7 overall in the Nation, and #1 for Best Magnet School in the Nation. In Alabama, Montgomery Public Schools ranked #1, and had three of the top ten schools in the state. The Montgomery Public Schools were the only River Region schools in the rankings. National Rankings: #1 Magnet - Loveless Academic Magnet Program High School

#7 High School - Loveless Academic Magnet Program Alabama Rankings: #1 Loveless Academic Magnet Program High School #8 Brewbaker Technology Magnet High School #9 Booker T. Washington Magnet High School

International flavor Several large Korean grocery markets are looking at the former site of Bruno’s on Bell and Vaughn roads. A Korean investor currently owns the property.

Top 10 ranking Alabama is ranked sixth in the country with manufacturing accounting for 13.1 percent of its non-farm employment. The top five states – in order – are Indiana (16.7 percent); Wisconsin (16.3 percent); Iowa (14.5 percent); Arkansas (13.3 percent); and Michigan (13.2 percent), according to the Bureau of Labor Statistics.

Alabama ranked No. 2 The state ranked second in a national survey for overall small business friendliness and Alabama was ranked near the top for expected hiring by small businesses, according to Thumbtack.com and the Ewing Marion Kauffman Foundation. Utah was ranked ahead of Alabama. Downtown openings The DoubleTree by Hilton on Madison Avenue was expected to open in April and will add 131 rooms to downtown Montgomery. This is not the standard DoubleTree, but will be “a very hip, very urban hotel,” said General Manager Tom Quatrochi. The hotel, which will feature a restaurant and upscale bar, will have 60 employees. There will also be a new Waffle House on Madison Avenue expected to open in June. It will be the 14th in the River Region and will employ 45 people, according to al.com.

Sprucing up Dexter Avenue Work will begin on the $5 million streetscape to Dexter Avenue. It will give the famous avenue a uniform look from sidewalks and trees from the One Dexter Plaza fountain to the Capitol. CONTINUED ON PAGE 40 38

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Connecting parks If Woodmere Park, Blount Cultural Park and Ida Belle Young Park were connected, there could be the equivalent of about six miles of running or hiking or biking trails. That area would then have an arts park connected to a cultural park connected to a nature park. It would not take much to connect Woodmere Park to Blount Cultural Park, but it would take a traffic light to connect Blount to Ida Belle.

Second chance The 77-acre Blount Cultural Park is home to the Alabama Shakespeare Festival and Montgomery Museum of Fine Arts and eventually the Montgomery Dog Park. Woodmere Park, which features a pond and extensive trails, may get some new signage, according to Chad Emerson, director of development for the City of Montgomery.

Thinking aloud Montgomery Mayor Todd Strange said that a group is pursuing a botanical garden at Oak Park. Creating summer jobs The City of Montgomery is launching a summer jobs program to employ teens and young people between the ages of 15 and 24. It’s called the Dream Generation Summer Jobs Program and encourages businesses, organizations and individuals to either hire

Montgomery Business Journal May 2013

or sponsor the youths. The goal is to create a minimum of 300 jobs for an eight-week period – June 3-July 26, including paid and non-paid internships. For information, call Felecia Martin at (334) 625-2427 or email her at fmartin@montgomeryal.gov.

The Alabama Launchpad Start-up Competition will host a second round for the first time in seven years. The project enables start-up companies to compete for a share of $100,000. Participants will be judged by a panel of entrepreneurs, investors and corporate stakeholders. The registration deadline is midnight May 22 and there is a fee of $150. For details, visit the website: alabamalaunchpad.com

Washington connection A local delegation recently met with the state’s congressional delegation in Washington and briefed those officials about the military’s construction needs at Maxwell Air Force Base and Gunter Annex. About $18 million is needed for a new fitness center at Gunter and another $9.5 million for a new air control tower at Maxwell, which is second to Andrews Air Force Base for the number of distinguished visitors who come to the area. Maxwell also needs $4.5 million for a mandated commercial inspection gate, which would entail building a separate gate facility.

Jobs, jobs, jobs Alabama Department of Commerce Secretary Greg Canfield said that 38,000 jobs have been announced in the state the past two years with a combined capital investment of $9 billion-plus. The bulk of those jobs were announced in 2012 – 20,847 with a combined capital investment of $5.4 billion. Although new companies coming to Alabama get more than their share of the economic development headlines, it is existing industries that create the bulk of jobs. There were 14,289 jobs announced by 355 existing companies, compared with 77 new companies announcing 6,558 jobs. Canfield said that “a big chunk” of those job announcements came from small business. “We’re trying to create an environment where every business – small, medium and large – can flourish and grow; invest capital; become profitable; and ultimately (achieve) a goal of hiring more Alabamians and putting more Alabamians to work to create great, high-wage jobs so that careers could be built and continue right here in the State of Alabama.”

Beginning to thaw For those who have been waiting for the commercial/industrial real estate sector to rebound there is some promising news. A 12,000-square-foot office/warehouse property on Hayneville Road in Montgomery that sits on almost a one-acre plot recently sold for $210,000. “The industrial/commercial real

estate market is revving up in Montgomery,” said Nim Fraser, owner/manager of Industrial Partners, which represented the seller. The buyer was represented by Frank Potts, associate broker with Aronov Realty Management.

May 2013 Montgomery Business Journal

Grow prosper

Montgomery County Commission Administrator Donald Mims was one of five speakers at the Montgomery Area Chamber of Commerce’s Minority Business Development Community Forum. He was joined by Montgomery Mayor Todd Strange; Alabama Department of Commerce Secretary Greg Canfield; state Sen. Greg Reed (R-Jasper); and Rep. Rod Scott (D-Fairfield).

City, county, state offer programs to grow small businesses by David Zaslawsky photography by Robert Fouts

The Montgomery County Commission is moving a probate and revenue office across the street from its current site on Atlanta Highway. Seven companies submitted bids for the move, ranging from $1,600 to $5,600. The bid was awarded to Bonded Moving & Storage, which had the low bid of $1,600. How do companies, especially small businesses, become involved in the bidding process when the county is not required to advertise for bids on small projects? Nearly 75 people attending the Montgomery Area Chamber of Commerce Minority

Montgomery Business Journal May 2013

Business Development Community Forum learned how to be placed on the county’s bid list. They were walked through that process by Donnie Mims, county administrator for the Montgomery County Commission. Each forum participant received an application to be placed on the county’s bid list and also a sample copy of an invitation to bid. The sample just happened to be moving the contents of the probate/revenue offices. “I’m the guy that signs all these bids,” Mims said at the forum, which was held at the Chamber’s Small Business Resource Center. “Competition is a great thing.” He said that the county has a 3 percent preference

rule, which means a local company will be awarded a contract if its bid is within 3 percent of the lowest bid and that company is outside the county. One speaker after another told participants how to grow their business through existing city, county and state programs as well as building relationships and the importance of networking. Participants also learned about a Geographic Information System used by the city, which provides a wealth of demographic and data that could help any business owner. The city offers a handful of incentive programs from the I-65 Corridor Initiative to Downtown Redevelopment Authority to façade grants to a business owner who opens a downtown grocery store. The city is also creative with its programs, according to Montgomery Mayor Todd Strange. The city used a practice burn exercise to remove an unwanted structure on a property and the city has demolished buildings. The city waived building permit fees to generate activity in the West Fairview Avenue area and the number

of applicants and projects jumped from four to 12 in a 12-month period. “There are many things we can do help all businesses, but particularly small businesses,” said Strange. He told the forum participants “if you don’t ask, the answer is no.” He said people should address their questions to Robert Smith, the city’s director of planning; and Chad Emerson, the director of development. The State of Alabama targets small businesses through its Office of Small Business Advocacy and international division. Eddie Postell, manager of the Office of Small Business Advocacy, is the point person “to cut across the silos of federal and state programs that are designed to benefit small businesses and that are designed to provide small business owners resources that are necessary for you to continue, grow and prosper,” said Alabama Department of Commerce Secretary Greg Canfield. The office will help small business owners “find those resources that are most appropriate

to you and most available for your particular situation as a small business owner,” Canfield said. The Commerce Department’s international unit can help a company increase its international sales. The department took 10 small business owners on a trade mission to Norway and Sweden – one of four or five trade missions a year. Those 10 small businesses were matched to companies in Norway and Sweden “as good opportunities or potential prospects,” Canfield said. In addition, the Commerce Department conducts 10 to 15 seminars a year on how to export products and services. State Sen. Greg Reed (R-Jasper), who is vice president of Preferred Medical Systems, which sells diagnostic imaging products to doctors, said the Legislature is looking to reform Medicaid and create regional governing boards. “There are going to be a lot of folks throughout our state that have CONTINUED ON PAGE 44

May 2013 Montgomery Business Journal

“If your business is not plugged into those areas where the jobs are being created and where the businesses are being developed … you miss out on the opportunities that are provided throughout the state.” Rep. Rod Scott (D-Fairfield)

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significant skills in the health care world that are going to be able to contract with these regional care organizations to provide highquality care and the better the care, the better the outcomes and the more opportunity there is going to be,” he said. Rep. Rod Scott (D-Fairfield) encouraged the community forum attendees to build relationships. “When you’re in the trenches operating a small business, your primary responsibility is going to be relationship building through networking and capacity building. If your business is not plugged into those areas where the jobs are being created and where the businesses are being developed … you miss out on the opportunities that are provided throughout the state. “Somehow your focus as a small business owner has to be on networking because at the end of the day, business comes through relationships. It’s not just going to come to you because you decided to (start) a business. “Stay focused. Stay strong. Develop your team and develop your capacity so that when you begin to network you can take advantage of all the opportunities that are available.” •

Montgomery Business Journal May 2013

Senator Supports Balanced Budget Sessions offers suggestions to spark economic growth by David Zaslawsky

U.S. Senator Jeff Sessions offered his prescription for boosting the ailing economy, which ranged from a balanced budget to reducing the corporate tax rate and cutting regulations. Speaking before a Montgomery Area Chamber of Commerce Eggs & Issues gathering at RSA Activity Center, the Republican from Alabama also said that increasing energy production will spark economic growth.

Sen. Jeff Sessions

He said “if the government had a sound plan to balance the budget,” that would improve confidence; lead to increased investment; and more jobs. Sessions pointed out that the House passed a budget drafted by Rep. Paul Ryan (R-Wis.) that balances the budget in 10 years while increasing spending 3 percent every year. He said the U.S. is on track to increase spending 5.4 percent this year. “Taxes need to be reduced,” said Sessions, who is the ranking member on the Senate Banking Committee; a member of the Senate Armed Services Committee; and a senior member of the Senate Judiciary Committee. He said the U.S. corporate tax rate is 35 percent and should be in the mid-20 percentage range by closing loopholes and deductions and simplifying the tax code. He insisted on using the savings to reduce the tax rate and not spend on other programs. “I really believe if we had a thorough examination of (regulations) and do it in a logical way, we can make America more productive without raising taxes,” Sessions said. He said that “some regulations are very valuable and they create a level playing field,” but there are a lot that “just make no sense.”

He criticized what he called $750 billion-a-year welfare programs, which he noted is more money than what is spent on the annual budget for the Department of Defense and Social Security. Sessions said the welfare programs “were disjointed and incoherent and not serving the national interest.” The expected rate of growth in the welfare programs is 80 percent over the next decade, according to Sessions, and that $1 trillion could be saved with a growth rate of 60 percent. “We’ve got to bring this under control. I think we have to do better. We have people that need to be working.” He wants to see “the welfare office” turned into a work force office and help people get jobs and not “subsidize dependence.”

suggestions “don’t cost money; help us to be more competitive; and more prosperous in the long run.”

Citing the extremely low cost of natural gas, Sessions said that is a “huge economic advantage” for those companies that use natural gas. He said that increasing energy will increase jobs and reduce the cost of energy. “It has great potential for us,” said Sessions, who spent 12 years as a U.S. Attorney before being elected to the U.S. Senate in 1996.

He praised the Alabama delegation for saving the 908th Airlift Wing at Maxwell Air Force Base as well as restoring the 187th Civil Engineering Squadron at Dannelly Field in Montgomery and securing the status of the 187th Fighter Wing and its 23 F-16s. Sessions is hopeful of the Defense Information Systems Agency expanding at Gunter Annex and the creation of a regional data center for the Department of Defense.

He warned that the country’s debt-to-GDP (gross domestic product) is in the dangerous zone. Sessions said that studies have shown that when debt equals 90 percent of GDP it slows economic growth and that the country’s current debt level may be a factor for slow economic growth.

Sessions said that Alabama is faring “a little better” than the country as a whole “because of a unified effort … to seek out good, quality businesses and support them and try to make sure they can make a profit and grow.” He added that Montgomery “was doing better than most of the state.” Meanwhile, he noted that Alabama ranked 22nd nationally in exports last year at $19 billion. He also praised Hyundai Motor Manufacturing Alabama’s “presence in Alabama.” He visited SMART Alabama, LLC, in Luverne, and said the HMMA tier one supplier is adding 300 jobs. “This area is doing well,” Sessions said about Montgomery. “This city is enriched by higher education. I’m glad you’re sensitive to that and supportive of that – economically and otherwise.”

Although he has supported previous BRACs (Base Realignment and Closure Commission) he opposes another one. “I believe that it creates tremendous instability,” Sessions said. “It does not save money in the short term … it costs money in the short run.” •

“What we need is to do the things that produce growth,” Sessions said. “I would suggest borrowing more and spending more is not the way to do it.” He said that his

May 2013 Montgomery Business Journal

M.L. Beeman is president of Beeman Enterprises, LLC, an engineering/architectural firm.

Engineering a Busy Future Veteran CAD expert has designs for business by David Zaslawsky

photography by Robert Fouts

in one-on-one conversations. He said he thought about starting his own company after graduate school in 2005. “I have many years’ experience in civil engineering and architecture. With that being said, why not do something on your own or start a company?” Beeman has a bachelor’s and master’s degree from Troy University and an associate’s degree in computer-aided drafting technology from Southern Technical College. When M.L. Beeman established his own engineering/architectural company about five years ago, he was busy with jobs in Franklin, Tennessee, and working with Knox Kershaw in Montgomery. The following year business was OK, but has been declining since to just a few projects a year. That’s not what Beeman had envisioned when he formed Beeman Enterprises, LLC, after a 15-year career with Montgomerybased Goodwyn, Mills & Cawood (GMC) and a two-year stint with Atlanta-based RCMS Group. He was the manager of GMC’s civil engineering computer-aided design and worked on numerous projects including nearly 20 subdivisions; industrial projects such as Hyundai Motor Manufacturing Alabama’s facility in Montgomery; and commercial projects such as EastChase and the former Colonial Bank Headquarters, which is now Capitol Commerce Center in East Montgomery. Beeman left GMC to work at RCMS “because it afforded me the opportunity to work on a global scale,” he said. “I managed teams in the U.S. and abroad.” He worked on some small commercial projects in India.

His first project with Beeman Enterprises was using computer-aided design to draw machine parts that were later manufactured by Knox Kershaw. He said that Knox Kershaw used his 3-D drawing and plugged all the variables into a machine that would produce the desired machine part. His last project was working with TCU Consulting Services on the Peter J Kirksey Career Center in Greene County. In the last few years, he has worked on projects for Lukens Engineering Consultants in Brentwood, Tennessee; First Baptist Church in Hope Hull; and Jeffcoat Engineers & Surveyor. Ryan Simon, an architect from Auburn University, is his chief operating officer and has worked on various projects with Beeman. Matt Burns is the company’s chief financial officer and has those all-important connections, according to Beeman.

“I have many years’ experience in civil engineering and architecture. With that being said, why not do something on your own or start a company?”

Although business is slow, Beeman hopes “to get his name out there and market” himself. His goal is to work “five to 10 nice-sized projects a year.” That’s because he currently has a full-time job as a law enforcement officer in the State of Alabama. After he retires from that, he hopes to once again be very, very busy working on projects. •

He said the company would get jobs from larger companies, which were outsourcing some engineering and architectural work, but RCMS restructured and “basically shut down,” he said. Beeman returned to Montgomery and started his own business. “I was able to get more exposure and visit individuals” – the CEOs, business owners and presidents –

May 2013 Montgomery Business Journal

BusinessBuzz banking and financial solutions at about 220 offices in Alabama, Florida, Mississippi, Tennessee and Texas.

Leonard N. Math

TRUSTMARK BANK NAMES ADVISORY BOARD MEMBER MONTGOMERY – Leonard N. Math has joined the Trustmark Bank’s Advisory Board of Directors for the Montgomery market. Math has more than 28 years of experience in the legal profession and is the managing partner for Chambless, Math and Carr, P.C. Attorneys at Law in Montgomery. The firm specializes in commercial and consumer creditor collection, real estate and commercial litigation, and complex bankruptcy litigation. Trustmark Corp. is a financial services company providing

Thomas J. Methvin

METHVIN NAMED PRESIDENT OF BEASLEY ALLEN LAW FIRM MONTGOMERY – Beasley, Allen, Crow, Methvin, Portis & Miles, P.C., announced that managing shareholder Thomas J. Methvin has been selected as the firm’s president. The office of president is elected by the board of directors annually; this will be Methvin’s 15th year as president. Methvin, who graduated from the University of Alabama with a

Montgomery Business Journal May 2013

degree in corporate finance, was the lead lawyer in a landmark predatory lending case involving a door-to-door sales and finance scam. The verdict of $581 million is the largest predatory lending verdict in American history. As a result of this litigation, the defendant finance company left the State of Alabama.

Birmingham and began his legal career at Beasley Allen the same year.

He was also co-counsel in other consumer fraud cases resulting in verdicts of $50 million, $45 million, $34.5 million, $25.4 million and $15 million. Methvin has tried 13 cases that have resulted in verdicts in excess of $1 million. Since 1998, Methvin has been the managing shareholder of the firm. He helped organize the firm into sections based on types of cases.

COLDWELL BANKER COMMERCIAL MOORE REALTY RECEIVES AWARD

He has been selected to Alabama Super Lawyers for 2008, 2009, 2010, 2011 and 2012. Since 2006, he has been selected every year for inclusion in U.S. News & World Report’s Best Lawyers in America list. He received his law degree from Cumberland School of Law in

Coldwell Banker Commercial Moore Co. Realty is a fourthgeneration company, founded in 1894 by William H. Moore. Jerome Moore is the company’s current president.

Jerome Moore

MONTGOMERY – Coldwell Banker Commercial Moore Co. Realty has been named the organization’s No. 1 office in Alabama for the third straight year.

With offices in Birmingham and Montgomery, Moore Company Realty and its affiliate companies manage more than 3.5 million square feet of commercial buildings in three states. “Coldwell Banker Commercial Moore Co. Realty exemplifies the standards of excellence for which Coldwell Banker Commercial offices are known,” said Fred Schmidt, president and chief operating officer of Coldwell Banker Commercial Affiliates Inc.

firms in the Southeast, with 300-plus employees. Since the recognition’s inception 25 years ago, fewer than 400 individuals out of an estimated 27,000 alumni and friends have been recognized as Distinguished Engineering Fellows.

Wanda Sims

BAPTIST HEALTH WINS ACHIEVEMENT AWARD

George Goodwyn

GOODWYN RECEIVES PRESTIGIOUS HONOR TUSCALOOSA – George T. Goodwyn, the retired founder and president of Goodwyn, Mills & Cawood Inc., was one of six alumni inducted into the University of Alabama’s 2013 class of Distinguished Engineering Fellows. The University of Alabama College of Engineering honored six alumni by inducting them into its 2013 class of Distinguished Engineering Fellows. Each year, the College of Engineering inducts a select group of alumni and friends as Distinguished Engineering Fellows. Recognition as a Distinguished Fellow is the highest commendation given to graduates and others who have strengthened the reputation of the College of Engineering through their efforts. Goodwyn’s small engineering firm grew into one of the largest multidisciplinary design

PLYMOUTH MEETING, PA – Baptist Health was one of eight organizations to win the ECRI Institute’s second annual Healthcare Supply Chain Achievement Award. The prestigious award honors health care organizations that demonstrate excellence in overall spend management and in adopting best practice solutions in their supply chain processes. The winning organizations were chosen out of nearly 2,500 hospitals and health systems who subscribe to ECRI Institute’s PriceGuide and SELECTplus supply and capital procurement advisory services. The selected organizations were recognized for a high level of dedication to improving health care quality and reducing costs by leveraging the full range of their ECRI Institute membership services. In another development, Baptist Health has achieved Stage 6 on the Electronic Medical Record Adoption Model (EMRAM). Less than 10 percent of the more 5,400 (Continued on page 50)

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U.S. hospitals tracked by HIMSS Analytics had reached Stage 6 on their Electronic Medical Record Adoption Model (EMRAM). “Receiving national recognition of Baptist Health’s efforts in using information technology to provide even better care for our patients is very exciting,” said Wanda Sims, chief information officer of Baptist Health. “The HIMSS Stage 6 designation reflects Baptist Health’s commitment to the highest levels of patient safety and quality care in our electronic medical record adoption.”

Consulting, has provided engineering consulting support and leadership in many areas, including development of AMEA’s enabling legislation, power sales contracts with the AMEA member cities, rate design, AMEA’s power supply agreements and the company’s Sylacauga Plant. “Bob and Steve are true AMEA pioneers,” said Fred Clark, president and CEO of AMEA. “AMEA has become a valued partner in Alabama’s electric utility community due to the leadership and dedication of Bob and Steve.” The award honors individuals who played a key role in the formation of AMEA in 1981 and is also presented for continued leadership and dedication to the organization.

Steven Stein

Montgomery-based AMEA is the wholesale power provider for 11 public power utilities in Alabama. SERVISFIRST BANCSHARES RANKED NO. 14 IN U.S.

Robert H. Young Jr.

YOUNG, STEIN RECEIVE PRESIDENT’S AWARD MONTGOMERY – Robert H. Young Jr. and Steven Stein were the recipients of the Alabama Municipal Electric Authority (AMEA) President’s Award. Young is president of The Frazer Lanier Co., which has been AMEA’s financial adviser since its inception in 1981. Young and Frazer Lanier have been instrumental in all of AMEA’s bond issues. Stein, who is an executive consultant with nFront

BIRMINGHAM – ServisFirst Bancshares Inc. is ranked 14th in the Top 100 community banks between $500 million and $5 billion in assets in the U.S. by SNL Financial for 2012. ServisFirst Bancshares, which moved up 12 spots, is the only bank in Alabama on the list of the 11 that qualify. It was ranked 26th in the Top 100 community banks by SNL in 2011 and ranked 41st in 2010. SNL ranks the best-performing community banks yearly using six core financial performance metrics that focus on profitability, asset quality and growth for the 12-month period ending December 31 of each year. ServisFirst has a branch in downtown Montgomery.

Montgomery Business Journal May 2013

fully digitized comic show as well as a variety of pizza, salad bar, appetizers, desserts, wings, sandwiches, rides, prizes, merchandise and birthday parties.

Collin R. Gaston

WSFA 12 NEWS WINS ALABAMA STATION OF THE YEAR AWARD MONTGOMERY – WSFA 12 News received two awards – “Alabama Station of the Year” and “Best Regularly Scheduled Newscast” – at the seventh annual ABBY award ceremony. This is the second time WSFA 12 News has won the Alabama Station of the Year Award in the past three years, having won previously in 2010. WSFA 12 News competed against all Alabama stations from the Huntsville, Birmingham, Montgomery, Dothan and Mobile markets in the award categories. “I am honored to accept these awards, as it recognizes the tireless effort and dedication of a wonderfully talented group of individuals at WSFA 12 News,” said Collin R. Gaston, vice president/general manager of WSFA 12 News. “We take great pride in representing the highest standards of our industry to the viewing public.” The awards were presented by the Alabama Broadcasters Association. CHUCK E. CHEESE TO OPEN AT EASTDALE MALL MONTGOMERY – Chuck E. Cheese will open a restaurant this summer at Eastdale Mall. The new Chuck E. Cheese’s 13,000-square-foot family entertainment center will feature the company’s latest,

“We are excited to welcome Chuck E. Cheese’s to Eastdale Mall,” said Dave Schloss, manager of Eastdale Mall. “Their dynamic new store format will be the perfect addition to round out Eastdale Mall’s lineup of family entertainment and retail offerings.” Aronov Realty Management leases and manages the nearly 1 million square-foot Eastdale Mall, which has 90-plus retailers.

Judy Jones

GOODWYN, MILLS & CAWOOD EXECUTIVE HONORED MONTGOMERY – Judy Jones of Goodwyn, Mills & Cawood Inc. received the Professional of the Year award from the Alabama chapter of the International Right of Way Association (IRWA). Jones was a president of the Alabama chapter and is now a director of the 200-plus member organization. She was recently elected secretary-treasurer for IRWA Region 6, which has more than 1,000 members. She joined Goodwyn, Mills & Cawood 25 years ago as a paralegal and is currently a shareholder and director of the firm’s right of way division. Jones is a licensed certified residential real estate appraiser and a

BUSINESS BUZZ licensed real estate agent. Her responsibilities have included appraisal, negotiation/acquisition and relocation for water/sewer, electric distribution, storm drainage, airport expansion and road improvement projects. WARREN AVERETT RANKED NO. 1 IN REGION BIRMINGHAM – Warren Averett, LLC was recently ranked as the largest accounting, tax and business consulting firm in the four-state Gulf Coast region comprised of Alabama, Florida, Louisiana and Mississippi by Accounting Today. The firm receives several accolades in the accounting industry trade publication’s 2013 “Top 100 Firms” report. On the list, Warren Averett is recognized as the No. 27 firm among the

the event is being presented by Alfa Insurance.

Top 100 firms in the nation by net revenue. Warren Averett was also recognized as the No. 1 pacesetter in growth, nationwide. “We are pleased to have secured the No. 1 rank for our region,” said Jim Cunningham, chief executive officer of Warren Averett, LLC. “Though, what’s most important to Warren Averett is that our firm’s growth is enhancing our ability to deliver high-quality, valued solutions to our clients and to create significant professional opportunities for our people. Through this dedication to our clients and our people, we are confident that Warren Averett will continue to grow and thrive as a firm.” Warren Averett has 800-plus employees and 16 offices, including one in Montgomery.

Old Alabama Town will serve as the starting and finish lines and the location for children’s activities. There will be live music from the band Blackbird Pickers and a wellness expo sponsored by Baptist Health. The familyfriendly event is open to runners and walkers of all ages and skill levels.

Kathy Wood

JUBILEE RUN WILL BENEFIT RELAY FOR LIFE MONTGOMERY – The 35th annual Jubilee Run For Cancer benefiting the American Cancer Society’s Relay for Life will be Saturday, May 25. The Run For Cancer includes an 8-kilometer run, a 2-mile run/walk and a Jubilee Junior Jog. Montgomery Multisport will coordinate the races and

“We all have a friend or family member who struggled with the terrible disease of cancer,” said run director Kathy Wood. Twelve of her family members were diagnosed with cancer, including five who died. “We invite everyone to participate,” Wood said. “For those who have never run a race before, come out and walk the

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route through historic parts of downtown and enjoy the activities at Old Alabama Town. For more competitive runners, the 8K and 2-mile courses are certified and prizes will be awarded.â&#x20AC;? The awards ceremony will also include the winners of the Wackiest Costume Contest. Printed registration forms will be accepted through May 13, and online registration is available through May 23 for $25. Late registration on May 24 is $30. On-site registration is $35. Participants will receive goodie bags and the first 600 registered will receive tech shirts. Junior joggers will be given T-shirts.

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For information, including registration, visit JubileeRun. org. For the latest updates, follow Jubilee Run on Twitter and like Jubilee Run on Facebook.

Carter Burwell

ATLANTA â&#x20AC;&#x201C; Jones Lang LaSalle local broker Carter Burwell received the firmâ&#x20AC;&#x2122;s Rising Star Award.

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334.318.8522

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Montgomery Business Journal May 2013

Burwell, a vice president, has more than 17 years of experience. He is a licensed broker in Alabama and Florida and provides a full range of tenant representation, brokerage and development services in the office, retail and industrial sectors. He has a bachelorâ&#x20AC;&#x2122;s degree in finance/real estate from the University of Alabama. Jones Lang LaSalle is a professional services and investment management firm with annual revenue of $3.9 billion.

Joe Riley

LOCAL BROKER WINS FIRMâ&#x20AC;&#x2122;S RISING STAR AWARD

Stop settling for the phone company:

broker leader for Jones Lang LaSalle. â&#x20AC;&#x153;He is motivated with a strong commitment to being a team player.â&#x20AC;?

The award is given to a Jones Lang LaSalle employee with less than three years of service who shows exceptional promise and enthusiasm for growing the firm. â&#x20AC;&#x153;Carter is someone who, after only a short time with the company, has already turned heads with his dedication to the team,â&#x20AC;? said Rob Metcalf, senior managing director/

JACKSON HOSPITAL, STERIS. CORP. TEAM UP FOR NEW SURGICAL SUITE MONTGOMERY â&#x20AC;&#x201C; Jackson Hospital has recently enhanced its surgical capabilities with the addition of a new integrated operating room for minimallyinvasive procedures. Jackson Hospital and the STERIS Corp., which has a manufacturing facility in Montgomery, entered into a unique partnership to build one of the areaâ&#x20AC;&#x2122;s most advanced operating rooms. The innovative Harmony iQ integrated surgical suite was designed exclusively for Jackson Hospital and will be used as a working showcase for some of the latest STERIS technology.

BUSINESS BUZZ Used primarily for minimallyinvasive procedures, the suite includes many highly advanced features: > Central systems control through a touch-screen control panel > Three HD monitors on ceilingmounted booms that can display video, medical images and mirror computer screens > Harmony LED Surgical Lighting and Visualization System to illuminate more brightly, with less heat and minimal glare

balloon characters for the kids, and a bluegrass band. The Farmers Market will be open Saturdays from 7 a.m.noon starting Saturday, May 11, and will run through Saturday, August 10. The Farmers Market producers and growers offer items such as organic meats and milk, goat cheese, natural bath products and hand-made soaps, honey, sprout breads, plants, fruit pastries, bird houses and hand-made jewelry – all made from local vendors and locally grown ingredients.

> Advanced STERIS General Surgical Table that can be moved by one person for ease and versatility.

For information about the Farmer’s Market, call (334) 279-6046.

“This new integrated surgical suite is a model of the future operating room,” Jackson Hospital CEO Joe Riley said, “and a great partnership with Montgomery’s STERIS Corp. It allows surgeons to perform some of the most complex laparoscopic procedures that offer patients faster recovery, minimal scarring and less pain.”

Nim Frazer

THE SHOPPES AT EASTCHASE FARMER’S MARKET OPENS IN MAY MONTGOMERY – The Shoppes at EastChase Farmer’s Market will open in May for its ninth season, bringing in more vendors and unique items for local shoppers. The Farmer’s Market will hold a soft opening 7 a.m.-noon Saturday, May 11, which will allow shoppers to preview some of the items and produce that will be offered throughout the summer. The Farmer’s Market grand opening will kick off summer at 7 a.m.-noon Saturday, May 25. The grand opening will offer entertainment, including cooking demonstrations from WilliamsSonoma, face painting and

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iNDUSTRIAL PARTNERS LAUNCHES NEW WEBSITE MONTGOMERY – Industrial Partners announced the launch of its newly updated website. Site improvements include a video library featuring video interviews, updated blog, virtual tours, userfriendly property search features and much more. “We are very proud of our updated website,” said Nim Frazer, owner/manager of Industrial Partners. “It was designed to be an easy-tomaneuver, one-stop site for anyone looking for commercial and industrial property in Alabama. Our goal was to be able to provide multi-dimensional information that would make (Continued on page 54)

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Referred for a reason.

May 2013 Montgomery Business Journal

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finding a commercial property much easier for the consumer.”

> Enjoy group work and team building activities

The website’s address remains www.industrialpartners.com.

> Have Fun.

Industrial Partners is a commercial/industrial real estate services firm that has been providing clients in Montgomery and throughout Alabama with commercial real estate services since 1974. Industrial Partners maintains a portfolio more than 2 million square feet with spaces available from 3,630 square feet to 150,000 square feet. AUM OFFERS WEEK-LONG CAMP CEO FOR TEENS MONTGOMERY – Auburn University at Montgomery’s Division of Continuing Education and School of Business will host a new residential summer camp focused on business leadership this summer: Camp CEO. The week-long camp at AUM – June 16-June 21 – will give teens a sneak-peak into what college life is like and get a chance to decide if business is the right major for them when they enroll in college. The camp fee is $495 and includes meals, housing, activities, materials and field trips. Attendees will: > Experience what it is like to be on a college campus > Meet local business leaders > Receive instruction from the AUM School of Business > Gain business etiquette training > Improve communication and leadership skills > Discover the components of a successful business model and what it takes to be successful in business > Work with peers from across the state

Montgomery Business Journal May 2013

Activities include a City Council meeting; working with city officials on planning; touring the new and old Montgomery; business etiquette training dinner at Capitol City Club; cookout; and scavenger hunt. For information, call (334) 244-3339. 42 APPRAISAL FIRMS FORM VALBRIDGE PROPERTY ADVISORS MONTGOMERY – Real Estate Appraisers, LLC, has combined with 41 other appraisal firms to form Valbridge Property Advisors. The new company, which will have 59 offices and 600 employees, will rank among the nation’s top three commercial real estate valuation and advisory services firms. Montgomery-based Real Estate Appraisers will be called Valbridge Property Advisors l Real Estate Appraisers. The company is led by Josh Hall and Harry Stakely, who are now senior managing directors of Valbridge. “Client demand for a strong independent national commercial property appraisal services firm has driven us to combine with dozens of the best and brightest appraisers across the country to launch Valbridge,” Hall said, “but we’re no less committed to being the No. 1 firm in our market known for high standards of accuracy, integrity and reporting.” •

Members on the Move “These two men are truly among the most respected leaders in our field force and we are confident in their abilities to motivate Alfa’s Alabama sales teams.”

David Christenberry

Tim Timmons

ALFA NAMES REGIONAL MARKETING VICE PRESIDENTS MONTGOMERY – Two members of the Alfa Insurance Hall of Fame have been tapped to lead the company’s marketing efforts in North Alabama and South Alabama. David Christenberry has been named regional marketing vice president for South Alabama and Tim Timmons regional marketing vice president for North Alabama. “In making these appointments, we focused on experience, knowledge of the insurance industry, proven long-term track records, loyalty to Alfa and the ability to build successful teams and lead them to be winners,” said Al Dees, executive vice president of marketing for Alfa.

A native of Fayette, Alabama, and an Auburn University graduate, Christenberry joined Alfa in 1977 as an agent. He became a district manager in 1978 and achieved recognition in the company’s President’s Club 17 times. In 1996, Christenberry was inducted as a charter member of the Alfa Hall of Fame. “Any successful organization, whether it’s a great company or sports team, has three common characteristics: pride in the outfit; confidence in the leadership; and trust from top to bottom and bottom to top,” Christenberry said. “Alfa is blessed to have all three, and I look forward to working with the agents, customer sales representatives and managers in South Alabama to make Alfa’s future even brighter.” Timmons grew up in Fort Payne and is a graduate of Faulkner University. He joined Alfa in 1987 as an agent and was promoted to district manager in 1988. Timmons is an 11-time President’s Club member. He was inducted into the company’s Hall of Fame in 2011. “I am humbled and excited with the challenge of leading North Alabama,” Timmons said. “Being associated with North

Alabama my entire career, I look forward to doing what I can to help our agents be successful. I am excited about the vision and attitude of Alfa’s management, and I believe some of our best days are ahead of us.”

satisfy the financial needs of our customers across Montgomery and Selma.” Wells Fargo has $1.4 trillion in assets as well as 9,000 branches and 12,000 ATMs. The company, which operates in 35 countries, has 265,000 employees.

Cedric Young

WELLS FARGO NAMES BUSINESS RELATIONSHIP MANAGER MONTGOMERY – Cedric Young has been named Wells Fargo’s business banking relationship manager for Montgomery and Selma. Young has 12 years of experience in financial services. He has worked as a credit manager, store manager and a licensed small business specialist. He received his bachelor’s degree in business administration from Alabama State University. “We are so pleased that Cedric has joined the Wells Fargo team in Montgomery,” said Billy Livings, market president and business banking manager for Eastern Alabama for Wells Fargo. “We know he will be a great asset to our team and will help us

Marc W. McHenry

BEASLEY ALLEN HIRES LAW ENFORCEMENT VETERAN MONTGOMERY – The law firm of Beasley, Allen, Crow, Methvin, Portis & Miles, P.C., has added Marc W. McHenry to its team of investigators. McHenry will work with the firm’s personal injury/product liability section. He joined the firm in March, after retiring from more than 26 years of service with the Alabama Department of Public Safety (DPS), working with the Alabama State Troopers. Beasley Allen employs an in-house team of accident investigators, all former law enforcement officers, who help evaluate potential claims.

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Continued from page 55

“I am truly appreciative to be employed with the firm,” McHenry said. “The investigators work very well together as a team and I am excited to be a part of this team.”

ŵĂŬŝŶŐ ƚŚĞ ƉƌŽĐĞƐƐ ^z tŝƚŚ ƚŚĞ ůŽǁĞƐƚ ŝŶƚĞƌĞƐƚ ƌĂƚĞƐ ŝŶ ŚŝƐƚŽƌǇ ĂŶĚ ƚŚĞ ŚŽƵƐŝŶŐ ŵĂƌŬĞƚ ŐĂƚŚĞƌŝŶŐ ƐƚƌĞŶŐƚŚ͕ ƚŚĞƌĞ ŵĂǇ ŶĞǀĞƌ ďĞ Ă ďĞƩĞƌ ƟŵĞ ƚŽ ƉƵƌĐŚĂƐĞ Ă ŚŽŵĞ͊ ZĂƚĞƐ ĂƌĞ ƚŚĞ ůŽǁĞƐƚ ŽŶ ƌĞĐŽƌĚ͕ ĂŶĚ ŶŽǁ ŝƐ ĂŶ ĞǆĐĞůůĞŶƚ ƟŵĞ ƚŽ ƌĞĮŶĂŶĐĞ ǇŽƵƌ ŚŽŵĞ͘ ZĂƚĞƐ ĂƌĞ ĨĂǀŽƌĂďůĞ ŝĨ ǇŽƵ ĂƌĞ ƉĂǇŝŶŐ ϰ͘ϳϱй Žƌ ŚŝŐŚĞƌ ŽŶ Ă ϯϬ ǇĞĂƌ ůŽĂŶ Žƌ ϰй Žƌ ŚŝŐŚĞƌ ŽŶ Ă ϭϱ ǇĞĂƌ ůŽĂŶ͘ >ŽĐĂůůǇ ŽǁŶĞĚ ĂŶĚ ŽƉĞƌĂƚĞĚ ƐŝŶĐĞ ϭϵϵϱ͕ ƋƵŝƐŽƵƚŚ DŽƌƚŐĂŐĞ ŚĂƐ ŚĞůƉĞĚ ƚŚŽƵƐĂŶĚƐ ŽĨ ƉĞŽƉůĞ ƚŚƌŽƵŐŚŽƵƚ ůĂďĂŵĂ ƌĞĂůŝǌĞ ƚŚĞŝƌ ĚƌĞĂŵ ŽĨ ŚŽŵĞ ŽǁŶĞƌƐŚŝƉ͘ tĞ ŚĂǀĞ ŚĞůƉĞĚ ĐůŝĞŶƚƐ ƌĞĂĐŚ ƚŚĞŝƌ ĮŶĂŶĐŝĂů ŐŽĂůƐ ǁŚĞƚŚĞƌ ŝƚ ŝƐ Ă ŶĞǁ ŚŽŵĞ ƉƵƌĐŚĂƐĞ͕ ƌĞĮŶĂŶĐŝŶŐ͕ Žƌ ĚĞďƚ ĐŽŶƐŽůŝĚĂƟŽŶ͘ dŚĞ ǇĞĂƌƐ ŽĨ ŬŶŽǁůĞĚŐĞ ƚŚĂƚ ƋƵŝƐŽƵƚŚ DŽƌƚŐĂŐĞ ŚĂƐ ŐĂŝŶĞĚ ŝŶ ƚŚĞ ĮŶĂŶĐĞͬŵŽƌƚŐĂŐĞ ŝŶĚƵƐƚƌǇ ŚĂǀĞ ĂůůŽǁĞĚ ƵƐ ƚŽ ĞǆƉĞƌŝĞŶĐĞ ďŽƚŚ ƚŚĞ ƵƉƐ ĂŶĚ ĚŽǁŶƐ ŽĨ ƚŚĞ ŵŽƌƚŐĂŐĞ ŵĂƌŬĞƚ͘ dŚŝƐ ĞŶĂďůĞƐ ƵƐ ƚŽ ĮŶĚ ƚŚĞ ƌŝŐŚƚ ƉƌŽĚƵĐƚ ƚŚĂƚ ďĞŶĞĮƚƐ ŽƵƌ ĐůŝĞŶƚƐ ĂŶĚ ĚŝīĞƌĞŶƟĂƚĞƐ ƵƐ ďǇ ŶŽƚ ƵƐŝŶŐ ƚŚĞ ͞ŽŶĞ ƐŝǌĞ ĮƚƐ Ăůů͟ ĂƉƉƌŽĂĐŚ ŝŶ ǁŽƌŬŝŶŐ ǁŝƚŚ Ă ĐůŝĞŶƚ͘ tŝƚŚ ŽǀĞƌ ŽŶĞ ŚƵŶĚƌĞĚ ǇĞĂƌƐ ŽĨ ĐŽŵďŝŶĞĚ ŵŽƌƚŐĂŐĞ ůĞŶĚŝŶŐ ĞǆƉĞƌŝĞŶĐĞ͕ ǁĞ ĂƌĞ ďĞƩĞƌ ƉƌĞƉĂƌĞĚ ƚŽ ƐĞƌǀŝĐĞ Ă ĐůŝĞŶƚ͛Ɛ ŶĞĞĚƐ͕ ůŝƐƚĞŶŝŶŐ ĐĂƌĞĨƵůůǇ ƚŽ ƚŚĞŝƌ ĐŽŶĐĞƌŶƐ͕ ĂŶĚ ĂƉƉƌŽĂĐŚ ĞĂĐŚ ůŽĂŶ ƌĞƋƵĞƐƚ ǁŝƚŚ ͞ǇĞƐ͟ ŝŶ ŵŝŶĚ͘ KƵƌ ƐĞƌǀŝĐĞƐ ŝŶĐůƵĚĞ Ă ĨƵůů ůŝŶĞ ŽĨ ŵŽƌƚŐĂŐĞ ůŽĂŶ ƉƌŽĚƵĐƚƐ ŝŶĐůƵĚŝŶŐ :ƵŵďŽ͕ ŽŶǀĞŶƟŽŶĂů͕ &, ͕ s ͕ h^ ͬZƵƌĂů ĞǀĞůŽƉŵĞŶƚ͘ ƋƵŝƐŽƵƚŚ DŽƌƚŐĂŐĞ ǁŽƌŬƐ ǁŝƚŚ ŶƵŵĞƌŽƵƐ ŝŶǀĞƐƚŽƌƐ ƚŚƌŽƵŐŚŽƵƚ ƚŚĞ ĐŽƵŶƚƌǇ͘ dŚŝƐ ĂůůŽǁƐ ƵƐ ƚŽ ƉƌŽǀŝĚĞ ĐůŝĞŶƚƐ ǁŝƚŚ ƚŚĞ ƌŝŐŚƚ ŵŽƌƚŐĂŐĞ ůŽĂŶ ƉƌŽĚƵĐƚ ĂŶĚ ƚĞƌŵƐ ƚŚĂƚ ƐƵŝƚ ƚŚĞŝƌ ƉĂƌƟĐƵůĂƌ ŶĞĞĚ͘ ĚĚŝƟŽŶĂůůǇ͕ ƋƵŝƐŽƵƚŚ ŝƐ Ă ůĞŶĚĞƌ ƉƌŽǀŝĚŝŶŐ ĂƐƐŝƐƚĂŶĐĞ ŝŶ ƚŚĞ , ZW ;,ŽŵĞ īŽƌĚĂďůĞ ZĞĮŶĂŶĐĞ WƌŽŐƌĂŵͿ͘ dŚŝƐ ĂůůŽǁƐ Ă ďŽƌƌŽǁĞƌ ƚŽ ƉŽƐƐŝďůǇ ƌĞĮŶĂŶĐĞ ƚŚĞŝƌ ŵŽƌƚŐĂŐĞ ƌĞŐĂƌĚůĞƐƐ ŽĨ ƚŚĞ ǀĂůƵĞ ŽĨ ƚŚĞŝƌ ŚŽŵĞ͘

,ŽŶĞƐƚ ŶƐǁĞƌƐ ,ŽŶĞƐƚ WƌŽĨĞƐƐŝŽŶĂůƐ ,ŽŶĞƐƚ ^ŽůƵƟŽŶƐ dŚĞƌĞ ŵĂǇ ŶĞǀĞƌ ďĞ Ă ďĞƩĞƌ ƟŵĞ ƚŽ ďƵǇ Ă ŚŽŵĞ͊ DŽƌƌŝƐ ͘ ĂƉŽƵĂŶŽ ͮ DĂƌŬ ͘ ƌŶĞƐƚ ͮ ĂƌůĞŶĞ ^͘ ^ŬŝĞƌ

;ED>^ ηϴϴϲϵϳͿ ;ED>^ ηϯϭϬϯϯϵͿ ;ED>^ ηϱϮϯϭϭͿ

ƌĞŶĚĂ :͘ tĂƐŚŝŶŐƚŽŶ ͮ ĂŶĚƌĂ ͘ WĞƩǁĂǇ Ăůů ƚŽĚĂǇ ĂŶĚ ƐĞĞ ǁŚĂƚ ƋƵŝƐŽƵƚŚ DŽƌƚŐĂŐĞ ĐĂŶ ĚŽ ĨŽƌ ǇŽƵ͊

ϯϯϰ͘ϰϬϵ͘ϵϯϬϬ

,ŽƵƌƐ͗ DŽŶ͘ ʹ &ƌŝ͘ ϴ͗ϬϬ Ă͘ŵ͘ ƚŽ ϱ͗ϯϬ Ɖ͘ŵ͘ ;ĂƉƉŽŝŶƚŵĞŶƚƐ ŵĂĚĞ ĂŌĞƌ ŚŽƵƌƐ ƚŽ ĂĐĐŽŵŵŽĚĂƚĞ ĐůŝĞŶƚƐ͘Ϳ

ϴϯϮϲ ƌŽƐƐůĂŶĚ >ŽŽƉ ͮ DŽŶƚŐŽŵĞƌǇ͕ ůĂďĂŵĂ ϯϲϭϭϳ ǁǁǁ͘ĞƋƵŝƐŽƵƚŚŵŽƌƚŐĂŐĞ͘ĐŽŵ ED>^ ηϳϲϲϳϮ

Montgomery Business Journal May 2013

At the time of his retirement from DPS, McHenry was chief, trooper major, Administrative Division, where he was responsible for the command and operation of all administrative services for the state law enforcement agency. He managed a budget of more than $180 million, employing about 1,500 employees statewide. He joined DPS in 1985, as a trooper cadet at the Alabama Criminal Justice Training Center. McHenry was a trooper for the Highway Patrol from 1986-1991 before advancing in a variety of supervisory and administrative positions in the department. REGIONS ANNOUNCES NEW ADDITIONS MONTGOMERY – Reginald “Chip” B. Harp III has been named Regions Financial Corp.’s business and community banking sales executive for Central Alabama. The firm also announced that Amy P. Jones is the new branch manager for the Cloverdale location. Harp brings 12 years of experience to his new role. He has spent a majority of that time as a community banking relationship manager in the Dothan market and since 2001, he has served as vice president. He is a graduate from Troy University’s Dothan campus with a master’s degree in business administration. Harp has a bachelor’s degree in corporate finance and investment management from the University of Alabama. “Chip is an accomplished banker, well recognized for his talent and commitment to serving customers in both business and the community,” said Arthur DuCote, Central Alabama Area President for Regions. “Chip will provide

Reginald “Chip” B. Harp III

Amy P. Jones

the management presence and leadership necessary to continue our growth and expand our tradition of community leadership, excellent customer service and sound banking.” Jones, who is a graduate from the University of Montevallo with a major in speech communication, has 12-plus years of experience. She was a senior sales executive for most of that time. “Amy has a proven record in sales and providing phenomenal customer service,” DuCote said. “The Cloverdale branch is an important location for us.” Regions Financial Corp., which has $121 billion in assets, operates in 16 states. Regions has about 1,700 branches and 2,000 ATMs. •

New Members Bakery

Fitness Center/Gym

Interior Design

Little Red Cupcake Frederick D. Johnson 638 South Hall Street, Apartment A Montgomery, AL 36104 334-202-2917

Iron Tribe Fitness Michael Hartman 7927 Vaughn Road Montgomery, AL 36116 334-356-9696

Interiors & Co. Chris Thompson 8143 Vaughn Road Montgomery, AL 36116 334-819-4225

Gifts & Specialty-Retail

Walker and Moore, LLC SDVOSB Stephenia B. Walker 1100 Laurel Lane Montgomery, AL 36106 334-380-4599

LuLu’s Cake Shop Mary Nichols 2503 Highland Avenue Montgomery, AL 36107 334-356-6224

Banks Renasant Bank Pete R. Knight 225 Mitylene Park Drive Montgomery, AL 36117 334-223-1420 River Bank & Trust Leah Cox 309 Maxwell Boulevard Montgomery, AL 36104 334-386-8700

Catering Services ASE Cakes & Catering Gwen Massey 2034 East Second Street Montgomery, AL 36106 334-265-7181

Cellular/Wireless Phone Services Verizon Wireless Mike Simmons 6825 EastChase Parkway Montgomery, AL 36117 334-277-2222 Verizon Wireless David Wallace 925 Ann Street Montgomery, AL 36106 334-269-3023 Verizon Wireless Gary Wood 6925 Halcyon Park Drive Montgomery, AL 36117-6943 334-215-0419

Two Blessings Gift Boutique Donnie Sasser 8127 Vaughn Road Montgomery, AL 36116 334-647-1745

Home Health Services Amedisys Home Health, Inc. of Montgomery Rachel Myers 300 Interstate Park Drive Suite 324 Montgomery, AL 36109 334-272-0313

Hotels/Motels Quality Roof Inn Michael B. Patel 5601 Carmichael Road Montgomery, AL 36117 334-260-0489

Information Technology Firms Capital Technology Works Bo Wills 600 South Court Street Montgomery, AL 36104 334-337-0001

Interior Decorators Interiors & Co. Chris Thompson 8143 Vaughn Road Montgomery, AL 36116 334-819-4225

Captain D’s Seafood #3548 Anthony Glasco 1729 East Main Street Prattville, AL 36006 334-365-1355 Captain D’s Seafood #3553 Anthony Glasco 5444 Atlanta Highway Montgomery, AL 36109 334-279-8969

Office Equipment/ Supplies

Captain D’s Seafood #3660 Anthony Glasco 949 West South Boulevard Montgomery, AL 36105 334-281-0764

Copy Products Company David Buckelew 974 Plantation Way Montgomery, AL 36117 334-244-8700

Captain D’s Seafood #3717 Anthony Glasco 5296 U.S. Highway 231 Wetumpka, AL 36092 334-567-9643

Property Management

Security Systems

Elite Parking Services Celess Kilpatrick 4445 Selma Highway Montgomery, AL 36108 334-422-4022

Real Estate Sales and Development Five Star Consortium, LLC Michael Ingersoll 1310 9th Ave #1047 Phenix City, AL 36867 706-718-1015

AVAT, LLC Anna Gugino 24 West Park Avenue, Office #2 Montgomery, AL 36110 334-578-7913

Taxi/Cab Service Checker & Deluxe Cab Company, Inc. Will Wright 1075 Chandler Street Montgomery, AL 36104 334-241-0034

Restaurants

Transportation Services

Odessa’s Blessings Calvin Dunning 726 Forest Avenue Montgomery, AL 36106 334-265-7726

Express 85 Lacey Updegraff P.O. Box 1329 Auburn, AL 36831 334-887-8595

RestaurantsSeafood Captain D’s Seafood #3327 Anthony Glasco 2674 Zelda Road Montgomery, AL 36106 334-262-5950

May 2013 Montgomery Business Journal

RIBBON CUTTINGS & GROUND BREAKINGS

HERE WE GROW AGAIN

BB&T 445 Dexter Avenue Montgomery, AL 36104 334-676-5867 www.bbt.com Guy Davis-City/Area Executive Banks

Firehouse Subs 2890 Zelda Road Montgomery, AL 36106 334-277-6614 www.firehousesubs.com Doug Sherrod-President/Owner Restaurants-Deli

Pure Barre Montgomery 507 Cloverdale Road, Unit 102 Montgomery, AL 36106 334-322-6248 www.purebarre.com Katie Lowder-Owner Fitness Center/Gym

Renasant Bank 225 Mitylene Park Drive Montgomery, AL 36117 334-223-1420 www.renasant.com Pete R. Knight-City President Banks

Odessaâ&#x20AC;&#x2122;s Blessings 726 Forest Avenue Montgomery, AL 36106 334-265-7726 www.odessasblessings.com Calvin Dunning-Owner Restaurants

Allstate InsuranceThe Ziegenfelder Agency 8417 Crossland Loop Montgomery, AL 36117 334-288-7095 www.allstate.com Ryan Ziegenfelder-Exclusive Agent Insurance Companies/Services

Express 85 P.O. Box 1329 Auburn, AL 36831 334-887-8595 www.Express85.com Lacey Updegraff-Marketing & Sales Development Consultant Transportation Services

Fairfield Inn & Suites-Airport 7560 Mobile Highway Montgomery, AL 36105 334-281-6882 www.marriott.com Ron Jenkins-General Manager Hotels/Motels

Montgomery Business Journal May 2013

Economic Intel

May 2013 Montgomery Business Journal

Unemployment Data Civilian Labor Force Area

March p 2013

Montgomery MA

February r 2013

Unemployment Rate

March r 2012

March p 2013

February r 2013

March r 2012

169,317

168,493

166,746

7.00%

7.90%

7.40%

Autauga County

25,624

25,531

25,211

6.00%

6.90%

6.30%

Prattville City

16,208

16,150

15,952

5.20%

6.20%

5.60%

Elmore County

35,297

35,233

34,816

6.30%

7.40%

6.80%

4,124

4,114

4,130

13.40%

14.40%

15.20%

104,273

103,615

102,589

7.30%

8.00%

7.60%

Montgomery City

93,791

93,168

92,296

7.20%

7.80%

7.50%

Birmingham-Hoover MA

530,100

530,041

526,623

6.00%

7.00%

6.30%

Birmingham City

90,003

90,034

89,460

8.00%

8.90%

8.30%

210,833

210,740

210,348

6.00%

6.80%

6.20%

90,266

90,241

90,079

6.00%

6.90%

6.30%

188,715

188,030

185,643

8.00%

8.90%

8.40%

88,017

87,680

86,620

8.20%

9.10%

8.70%

2,158,970

2,156,363

2,144,007

6.90%

7.80%

7.20%

154,512,000

154,727,000

154,316,000

7.60%

8.10%

8.40%

Lowndes County Montgomery County

Huntsville MA Huntsville City Mobile MA Mobile City Alabama United States

MA=Metropolitan Area. pPreliminary rRevised . Estimates prepared by the Alabama Department of Industrial Relations in Cooperation with the Bureau of Labor Statistics, based on 2012 benchmark.

Montgomery Metro Market Home Sales FEBRUARY 2013

JANUARY 2013

Month/Month % Change

FEBRUARY 2012

Year/Year % Change

Statewide FEBRUARY 2013

Median Price

$125,000

$113,700

9.94%

$118,250

5.71%

$115,788

Average Price

$133,504

$126,594

5.46%

$131,512

1.51%

$140,024

Units Listed

2,651

2,628

0.88%

2,738

-3.18%

31,546

Months of Supply

10.5

12.1

-13.22%

-19.23%

10.7

Total # Sales

253

217

16.59%

210

20.48%

2,941

Days on Market

117

124

-5.65%

105

11.43%

163

Source: Alabama Center for Real Estate (ACRE), The University of Alabama

Building Starts Building Permits

New Construction

MARCH 2013

FEBRUARY 2013

MARCH 2012

MARCH 2013

FEBRUARY 2013

MARCH 2012

$5,656,000

$8,923,600

$7,840,000

Additions and AlterationsÂ

$2,883,400

$6,028,900

$5,494,200

Others

$278,200

$400,600

$208,400

Total

117

120

156

$8,817,600

$15,353,100

$13,542,600

Source: City of Montgomery Building Department

Building Valuations

Montgomery Business Journal May 2013

Montgomery Regional Airport MARCH 2013 Air Carrier Operations

MARCH 2012

Year over Year % Change

YTD 2013

YTD 2012

Year over Year % Change

898

992

-9.5%

2,542

2,861

-11.2%

5,020

5,456

-8.0%

13,071

15,978

-18.2%

Enplanements

14,194

15,809

-10.2%

39,073

41,678

-6.3%

Deplanements

13,896

15,978

-13.0%

39,537

42,984

-8.0%

Total Passengers

28,090

31,787

-11.6%

78,610

84,662

-7.1%

Total Operations

Source: Montgomery Regional Airport (MGM) Dannelly Field

Airline Fares Roundtrip airfare comparisons from Montgomery, Birmingham and Atlanta airports to key destinations. Destination

Hyundai Sales VEHICLE

Montgomery

Birmingham

Atlanta

Baltimore (BWI)

$257

$266

$178

Boston (BOS)

$339

$308

$200

Charlotte, NC (CLT)

$160

$198

Chicago (ORD)

$277

$202

$178

Cincinnati (CVG)

$361

$370

$191

Dallas/Ft Worth (QDF)

$379

$258

$224

Denver (DEN)

$354

$377

$268

Detroit (DTW)

$297

$239

$218

Houston (HOU)

$370

$270

$196

Indianapolis (IND)

$317

$391

$178

Las Vegas (LAS)

$455

$400

$340

Los Angeles (LAX)

$398

$434

$316

Memphis (MEM)

$413

$393

$113

Miami (MIA)

$416

$296

$218

Nashville (BNA)

$297

$190

$340

MAR 2013

MAR 2012

YTD 2013

YTD 2012

New Orleans (MSY)

$268

$165

$148

Accent

5,669

8,337

13,914

18,484

New York (JFK)

$295

$252

$217

Sonata

18,031

23,281

47,285

55,195

Orlando (MCO)

$250

$167

$148

Elantra

26,153

19,681

54,546

44,401

Philadelphia (PHL)

$396

$202

$268

Santa Fe

7,116

5,853

19,446

14,535

Pittsburgh (PIT)

$317

$338

$238

Azera

1,117

128

2,709

159

St Louis (STL)

$266

$185

$178

Tucson

4,073

4,197

11,010

11,049

Seattle (SEA)

$425

$384

$361

Veloster

2,693

3,848

6,357

8,781

Seoul, Korea (SEL)

$1,718

$1,624

$1,661

622

136

1,809

Tampa (TPA)

$270

$167

$168

3,124

3,429

8,113

8,232

Washington DC (DCA)

$377

$202

$239

291

352

814

928

68,306

69,728

164,330

163,573

Veracruz Genesis Equus Total

Date of travel: May 21-26, 2013. Date of pricing: April 7, 2013. Source: travelocity.com

Source: Hyundai Motor America

May 2013 Montgomery Business Journal

Sales Tax Collections MARCH 2013

MARCH 2012

Montgomery County

$3,094,308

$3,220,436

City of Montgomery

$7,601,674

Pike Road Autauga County Prattville

Year over Year % Change

YTD 2013

YTD 2012

-3.92%

$10,027,979

$10,091,100

-0.63%

$7,645,128

-0.57%

$23,849,255

$23,628,485

0.93%

$163,936

$137,280

19.42%

$498,492

$469,690

6.13%

$647,559

$593,602

9.09%

$1,961,361

$1,916,427

2.34%

$1,550,375

$1,535,975

0.94%

$5,168,023

$5,196,746

-0.55%

$478,626

$457,595

4.60%

$1,483,220

$1,381,648

7.35%

Wetumpka

Sources: Montgomery County Commission, City of Montgomery, City of Pike Road, Autauga County Commission, City of Prattville, Elmore County Commission, City of Wetumpka, City of Millbrook Note: YTD numbers are January 2013 thru current month. * Did not receive this months numbers.

Quarterly Reports NAME

QUARTERLY REVENUES

NET INCOME

EARNINGS PER SHARE

EARNINGS ESTIMATE

YEAR-AGO REVENUES

YEAR-AGO NET INCOME

Sonic Corp.

$111.1M

$3.6M

$0.06

$0.05

$115.1M

$1.7M

Wet Seal

$161.7M

N/A

(-$0.06)

$163.2M

N/A

Dollar General

$4.2B

$317.4M

$0.97

$0.90

$4.2B

$292.5M

Plans to open 600-plus stores in fiscal 2013

GameStop

$3.6B

$261.1M

$2.15

$2.09

$3.6B

$174.7M

Comparable store sales fell 4.6%

Fred’s

$533.4M

$6.6M

$0.18

$0.20

$497.6M

$9.8M

Profit declined 33%

Buckle

$360.6M

$61.4M

$1.28

$1.25

$337.1M

$56.1M

Revenue up 7%

The Men’s Wearhouse

$608.4M

(-$3.4M)

(-$0.07)

N/A

$562.2M

(-$3.8M)

Sales rose 8.2%

Sonic Corp.

$111.1M

$3.6M

$0.06

$0.05

$115.1M

$1.7M

Krispy Kreme Doughnuts

$118.1M

$4.8M

$0.77

N/A

$102M

$143.5M

Last year’s quarter had a one-time gain of $139.6M

Coldwater Creek

$220.8M

(-$20M)

(-$0.65)

(-$0.79)

$224.4M

(-$12.8M)

Comparable premium retail sales up 2.7%

Hibbett Sports

$217.4M

$19.4M

$0.73

$0.70

$190.7M

$15.8M

Profit increased 22%

Aeropostale

$797.7M

(-$671,000)

(-$0l.01)

$0.22

$808.4M

$26.1M

Comparable store sales declined 9%

Kirkland’s

$162M

$14.2M

$0.83

$0.74

$149.1M

$15.1M

Sales jumped 9.2%

Walgreen

$18.7B

$756M

$0.79

$0.93

$18.7B

$683M

Took take in pharmaceutical wholesaler AmerisourceBergen

Williams-Sonoma

$1.4B

$133.7M

$1.34

$1.29

$1.3B

$122.6M

Increased quarterly diviidend 41% to 31 cents

$234.6M

$7.9M

$0.27

N/A

$224.3M

$10.1M

Profit declined 22%

Ross Stores

$2.8B

$236.6M

$1.07

$2.4B

$192M

Profit jumped 23%

Darden Restaurants (Olive Garden, Red Lobster, LongHorn Steakhouse)

$2.3B

$134.4M

$1.02

$1.01

$2.2B

$164.1M

Revenue at Red Lobster fell 6%

Jos. A Bank Clothiers

$354.8M

$28.4M

$1.01

$0.98

$346.3M

$44.1M

Quarterly profit dceclined 36%

Cato

Montgomery Business Journal May 2013

NOTABLE

Quarterly profit more than doubled Online sales increased 19.5%

Net income more than doubled

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