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22 © Fouts Commercial Photography
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Chairman’s Column
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7 Calendar 8
The Benefits to Participating in the Chamber’s Total Resource Campaign
11
Speaker’s Commission on Job Creation
14
Q&A with Diversity Summit Keynote Speaker J. Phillip Holloman
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Down with the Pounds Grows During Difficult Economic Time
20
New Option for Office Space at the Small Business Resource Center
22
New Alabama Power Vice President Leslie Sanders
24
Caddell Construction Co., Inc. Builds Worldwide Reputation
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Capital of Dreams Campaign Going Strong
32
Member Profile: Dr. Kendall Dunn and Dr. John Buettner
34
Alabama Business Confidence Index
36
Business Buzz
40
Members on the Move
42
Ribbon Cuttings and Ground Breakings
43
New Members
44
Economic Intel
September 2011
Contents
September 2011 Montgomery Business Journal
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Downtown
THE NUMBER ONE BUSINESS SOURCE FOR MONTGOMERY AND THE RIVER REGION
G O E S U PTOW N
PUBLISHER
Randall L. George Executive Editor
Tina McManama Managing Editor
David Zaslawsky Design
Copperwing Design Photographer
Robert Fouts On the cover:
Standing, left to right: J. Mac Caddell, Construction Executive, Caddell Construction Co., Inc.; John A. Caddell, Chairman of the Board of of Directors, Caddell Construction Co.,Inc. Sitting: Kirby Caddell, CEO and Vice Chairman of the Board of Directors of Caddell Construction Co., Inc. Advertising:
Linda Drumheller 334-240-9494 mbjsales@montgomerychamber.com
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Montgomery Business Journal September 2011
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 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 3, Issue 8. 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.
September 2011 Montgomery Business Journal
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Chairman’s Column The Chamber’s Total Resource Campaign, or TRC for short, kicks off this month. Volunteers from Chamber-Member businesses will be calling on you with a multitude of Chamber sponsorships you can invest in. There are sponsorships available that can help every Member with their business strategy. The TRC funds the Chamber’s programs, events, publications, electronic media and Member benefits. The campaign is critical for the success of the chamber and you – its Members. This year’s goal is $750,000, and I know we can get there with your help. There is a partial list on page 10 that will give you an idea of what is available. And after the kick off, details on all TRC products will be available on montgomerychamber.com. This campaign is a win-win for the Chamber and for you! Please read the story on page 8 about how valuable of a marketing tool the TRC products are to fellow Chamber Members MAX Credit Union, Heartsill Payroll and Marquirette’s Exquisite Jewelry. You don’t have to participate in the TRC because you want to support the Chamber, although that is important. You can participate in the TRC to benefit your business or organization. Join the more than 400 Chamber Members who voted with their pocketbooks to use this costeffective way to reach the target audience they seek via the Chamber’s diverse programs, products and events. It makes good business sense for you to participate in the TRC. And at the same time, you will help the Chamber make this a better place to live, work and play.
Larry D. Puckett, 2011 Chairman of the board Montgomery area chamber of commerce
334-832-4975 walker360.com 6
Montgomery Business Journal September 2011
Calendar Montgomery Area Chamber of Commerce Events
SEPTEMBER 13
CHAMBER ORIENTATION Sponsored by Heartsill Payroll 8AM @ Montgomery Area Chamber of Commerce 41 Commerce Street, Montgomery Free event, exclusively for Chamber Members Reservations required: Contact Deborah Pope at dpope@montgomerychamber.com
14 15
60 MINUTE COFFEE Sponsored by Auburn Montgomery Outreach 8 AM @ Auburn Montgomery Center for Lifelong Learning 75 TechnaCenter Drive, Montgomery Free event, exclusively for Chamber Members DIVERSITY SUMMIT Presenting Sponsor: Troy University 8 AM @ Renaissance Montgomery Hotel & Spa at the Convention Center 201 Tallapoosa Street, Registration: www.montgomerychamber.com/diversity2011
19
BUSINESS PLANNING SEMINAR 4 PM @ Small Business Resource Center 600 South Court Street, Montgomery $10 at the door, Registration not required
22
BUSINESS AFTER HOURS Sponsored by AlleyBAR 5 PM @ AlleyBAR 166 Commerce Street, Montgomery Free event, exclusively for Chamber Members
OCTOBER 3
BUSINESS PLANNING SEMINAR 4 PM @ Small Business Resource Center 600 South Court Street, Montgomery $10 at the door, Registration not required
12
60 MINUTE COFFEE Sponsored by Trenholm State Technical College 8 AM @ Trenholm State Technical College Harper’s (Culinary Arts Department) 8 Commerce Street, Montgomery Free event, exclusively for Chamber Members
12
SMALL BUSINESS LOAN CLINIC 12 Noon @ Small Business Resource Center 600 South Court Street, Montgomery Free event, exclusively for Chamber Members
17
BUSINESS PLANNING SEMINAR 4 PM @ Small Business Resource Center 600 South Court Street, Montgomery $10 at the door Registration not required
26
BUSINESS TRAINING & DEVELOPMENT SERIES Presenting Sponsor: The Deli at Alley Station 12 PM – 1 PM @ Small Business Resource Center 600 South Court Street, Montgomery Registration: www.montgomerychamber.com/training
27
BUSINESS TAXATION WORSKOP Two Sessions: 3 PM & 6 PM@ Small Business Resource Center 600 South Court Street, Montgomery Free event, open to the public
Convention Calendar compiled by the Montgomery Area Chamber of Commerce Convention & Visitor Bureau
September 9/25-9/28
Alabama State Department of Education Joint Leadership Development Conference
October 10/10-10/12
Alabama Association of Housing Authorities Workshop
10/15-10/19
Southeast Regional Institute on Deafness Conference
10/18-10/22
AL Society of Professional Land Surveyors Meeting
10/25-10/29
Alabama Workforce Development Conference
September 2011 Montgomery Business Journal
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Montgomer
Chamber News
mall Business Development Chamber
Dive Women in Busine
Military Salute At Riverwalk Stadium
int of Light Award Annual Meeting Montgomery Business Journal
“
I Love the TRC Military Appre Small Business Development
CEO Roundta
en in Business Forum Annual Gathering
�
amber Open Montgo y SummitMontgomery Business Jou Montgomery Business Journal
Chamber Annual Meeting
en in business
Chamber launches sixth annual Total Resource Campaign
Minority Business Development Community Forum
he City and County 60-Minute Coff by David Zaslawsky
Diversity Sum
hena Award
BAck to school Breakfast Eggs And Issues
men in Business Forum Annual Gatheri
amber Annual Meeting
Military
Chamber Ambassad
ry Business Journal
r Annual Meeting
ersity Summit ess Forum Annual Gathering
l
Joe Andrew expressed his feelings about the Montgomery Area Chamber of Commerce’s Total Resource Campaign succinctly: “I love the TRC.” Andrew, vice president of business development for MAX Credit Union, said, “I like being able to invest in the TRC. I know what we are going to be a part of before the year starts.”
The Chamber is launching its sixth TRC in mid-September with a goal of raising $750,000 to fund the organization’s events, programs, publications, electronic media and member recruitment aids.
able
Volunteer salespeople will call on Chamber members to invest in the TRC for sponsorships for next year, and that is an important benefit for business executives and small business owners.
© Fouts Commercial Photography
Fields’ goal in sponsoring a Business After Hours is to get people to visit Marquirette’s – perhaps for the first time. “We just want to get people to set a foot in here and see what we have to offer,” he said. “We want them to see our gift shops, see our jewelry and just feel how comfortable it is in here. It kind of breaks the ice.” He said there were some sales at the Business After Hours, “but we’re really not pushing that. It’s more of a mixing and mingling that goes on.”
omery Business Journal “I can go ahead and put these items on my calendar and be preparing for them ahead of time,” Andrew said. “In this economy, if you don’t budget for something you really have to look at it hard if… you’re going to cancel something else to do it.”
urnal
MAX Credit Union sponsors the Chamber’s Eggs & Issues breakfasts with political leaders. It serves two purposes for the company, according to Andrew. He invites business partners as well as employees to sit at the MAX corporate table at Eggs & Issues events.
eciation Night
fee
Bonita Heartsill, president of Heartsill Payroll, said the TRC helps with her budgeting. “You go ahead and allocate those dollars,” she said. “You know when you’re committed.” Lyle Fields, co-owner of Marquirette’s Exquisite Jewelry with Marguirette Fields, said it was beneficial to budget in advance for sponsoring a TRC product.
mmit
That is only one of the numerous benefits from participating in the TRC. Heartsill Payroll is a presenting sponsor for the Chamber’s new member orientation and Heartsill said it builds name recognition and branding. “When somebody thinks payroll, I want them to think Heartsill Payroll,” she said. “I want them to associate payroll with my company. You never know where your referrals are going to come from.”
ing
“I can go up to anybody and give them a pen, but when I can take them to a civic event and spend time with them it has a greater meaning.” Joe Andrew, vice president of business development for Max Credit Union
“I can go up to anybody and give them a pen, but when I can take them to a civic event and spend time with them it has a greater meaning,” Andrew said. “Eggs & Issues is a great opportunity for young people at MAX to be able to see a senator or congressman and hear what they have to say. We bring some of our young managers there and they get an opportunity to shake their (politician) hand.” It is also a networking event and a chance “to meet and greet people all across the spectrum of businesses in the River Region,” Andrew said.
© Fouts Commercial Photography
“It’s reaching my target market – anybody with employees.” Bonita Heartsill, president of Heartsill Payroll
MAX is sponsoring a 60-minute coffee in December, another networking opportunity. “That’s for us to give folks an opportunity to come into our facility who may never have been in before and for them to be with us in a different type of environment – in our home,” Andrew said.
y Appreciation Night
dors
Continued On page 10
September 2011 Montgomery Business Journal
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Continued From Page 9
Heartsill is advertising this year in the Montgomery Business Journal, the Chamber’s monthly business publication. “I’ve not done a lot of advertising since I’ve been in business,” Heartsill said. “I thought (Montgomery Business Journal) would be a good entry way into doing some advertising. I think it’s a great magazine. I read it myself cover-to-cover every month. I read the articles and I look at the ads. It’s reaching my target market – anybody with employees.” Marquirette’s also advertises in the magazine. “We have limited our participation in magazines and the principle magazine we advertise in is the Chamber’s business magazine,” Fields said. “We are real pleased with it. We really feel it’s an excellent venue for a very fair price to reach the professional community.” Naturally, participating in the TRC also keeps a Chamber member engaged. Heartsill has met a number of Chamber ambassadors through her sponsorships. “I am strongly considering signing up for the ambassador program myself,” she said. •
The 2011 Total Resource Campaign features products that reach diverse markets. This is a list of member opportunities you can leverage to build your business and your brand. Advertising Sponsorships
Networking Events
Chamber Weekly Enews
13th Annual Chamber Open
Convention & Visitor Bureau E-Newsletter
140th Annual Meeting
Convention & Visitor Bureau Website Ads
60-Minute Coffee
Corporate Development Momentum E-Newsletter
Business After Hours
MBJ Website-Premium Banner Montgomery Business Journal Monthly Ad Sponsor
Small Business Development
MONTGOMERYCHAMBER.COM Premium Banners
Entrepreneurial University
Community Information Packet (Newcomer Package) Trendlines Newsletter
Education Champion
Convention Totes - NEW!
School Clean Up
CVB Lanyards with a FABRIC Badge Holder - NEW!
Economic Development
Governmental Affairs Alabama Update Eggs and Issues State of the City and County Washington D.C. Fly-In - NEW! IT Forum - NEW! Military
Montgomery Tourism DVD Sleeve - NEW! Montgomery’s Passport to Savings Discount Card - NEW! Visitor Center Advertising Commercials (30 Second Spot) Visitor Center Advertising Panels Visitor Center Static Ads (15 second spots) Training, Seminars & Conferences Chamber Orientation Diversity Summit ATHENA Award Women in Business
Freedom Isn’t Free - Military Appreciation Initiative
Women in Business Annual Gathering
Military Family Appreciation Day at the Zoo
Women in Business Forum Steering Committee Luncheons
Military Salute at Riverwalk Stadium Wright Flyer Annual Meeting - NEW! Minority Business Development Minority Business Development Community Forum Minority Business Partnership Mixers Point of Light Award Reception - NEW!
Montgomery Business Journal September 2011
Tourism Convention & Visitor Bureau Convention Bags
VIP Economic Development Dinner
10
Small Business Champion - NEW!
Back to School Breakfast
Chamber Annual Video
Lyle Fields, co-owner of Marquirette’s Exquisite Jewelry
LunchWorks
Convention & Visitor Bureau 10 X 13 Envelopes
River Region Economic Summit
“We just want to get people to set foot in here and see what we have to offer.”
CEO Roundtable Breakfast
Public Education
Economic Development Flash Drive
© Fouts Commercial Photography
Montgomery Area Chamber of Commerce/Air University Golf Challenge
Membership Chamber Membership New Member Bag Sponsor The Ambassadors Total Resource Campaign
Creating Jobs is Job #1 Legislators will have full session to discuss panel’s recommendations by David Zaslawsky
While almost all of the nearly dozen recommendations from the Speaker’s Commission on Job Creation may have been finalized too late for consideration by the Legislature, lawmakers will have ample time to consider those proposals. “The big thing will be making sure lawmakers don’t file this away, but that in the next legislative session people are pushing these recommendations among other things that create jobs,� said Shannon Speir, president of Montgomery-based Speir Consulting, and a member of the Speaker’s commission. “This is a handbook of some pretty easy, inexpensive things that can’t hurt and very possibly may help a lot. We just don’t want people to forget about it.�
The Legislature did pass one of the panel’s recommendations – the “Made in Alabama� proposal that gives temporary Shannon Speir tax incentives for international firms that create jobs in the state. Speir said the Legislature didn’t have enough time to study all the recommendations, which were not finalized until May. “I think during the next session, these (recommendations) will be released, distributed and hopefully be discussed,� Speir said. She said a lot of businesspeople were involved in developing the recommendations through four forums, e-mails and even
a Facebook page. “I think a lot of the recommendations are good, but the Legislature needs to listen,� she said. Speir, who is a member of the Montgomery Area Chamber of Commerce Executive Committee, endorsed the concept of a commission to create jobs. “It showed this government is geared to listen and will continue to listen to good ideas.� Some of the panel’s recommendations were: > Listing of all state procurements greater than $2,500. > Creating a database of small business owners seeking venture capital. > Creating a website for one-stop access for small businesses to learn about regulations and overcome potential obstacles to starting a business. Continued on Page 12
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September 2011 Montgomery Business Journal
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“This new Legislature recognizes that the state doesn’t have the funds to create a bunch of jobs, but it can do some things to help the private sector to create jobs.” - Shannon Speir
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Montgomery Business Journal September 2011
Continued From Page 11
> Helping develop international markets for Alabama products. > Establishing a state authority to help small businesses get capital through direct loans and also assist with attracting more banking partners. > Implementing a pilot program to teach custom design and installation techniques of new solar technology for commercial applications through the two-year college system. “One of our biggest focuses was trying to come up with things that were not huge funding items – not giving a bunch of money to help create jobs,” Speir said. “The thought was this new Legislature recognizes that the state doesn’t have the funds to create a bunch of jobs, but it can do some things to help the private sector to create jobs.
“What can we as a government do to make it easier for the private sector to create jobs themselves? How can we eliminate red tape?” Many of the recommendations were attempts to get information to small business owners – information about regulations, access to capital or even business opportunities. Whether the recommendations will have a major impact on job creation or little impact, “you have to start somewhere,” Speir said. “Every little bit the government can do is helpful. This has been a good start and it will really move forward more quickly during the next session “Job creation is a big problem for us and unemployment is still high in a lot of areas. We need to create jobs. There are definitely people like the Speaker Mike Hubbard, (R-Auburn) and Phil Williams (R-Huntsville) who are making it a priority to listen to the private sector on how they can create jobs.” •
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September 2011 Montgomery Business Journal
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Tap into pools of talent Q&A with J. phillip holloman
J. Phillip Holloman is president and chief operating officer of Cintas Corp., which supplies uniforms to businesses, entrance mats, restroom supplies, promotional products, first aid and safety products as well as other products and services. He is the keynote speaker at the Montgomery Area Chamber of Commerce’s fourth annual Diversity Summit. He was recently interviewed by Montgomery Business Journal Managing Editor David Zaslawsky.
J. Phillip Holloman is president and chief operating officer of Cintas Corp.
Montgomery Business Journal: You helped establish the diversity initiative at Cintas Corp. When was it established and what did you do? Holloman: It evolved over time. Back in 1996 we hired our first INROADS scholar. MBJ: What is INROADS? Holloman: It’s a program that focuses on minority youth as early as their pre-senior year in high school. They become a part of the international organization with local chapters and go through a series of training sessions and whatnot. Then they intern with companies. We hired our first INROADS student in 1996 and in ’97 we started to really reach out to historically black colleges from a recruiting perspective.
MBJ: Please talk about the company’s diversity committee and how it started? Holloman: We actually formed our diversity committee in 2000. Our CEO heads up the diversity committee. The way it came about was looking at a need to focus on our efforts associated with recruiting and retaining more diverse partners – we call our employees partners – in Cintas. We utilized an outside consulting firm that specializes in this area. We recognized that we needed help in terms of developing the program. We also developed a training program for our focus on diversity and inclusion for all of our managers-and-above throughout the company so that everybody understood what our objectives were and are. Also, our CEO around the same time established diversity as one of his Top Five initiatives. I joined Cintas in 1996 and what I shared being an African-American is that of course diversity and inclusion are very important, but even with that said and the importance of it – we were in such a period of rapid growth (growing over 20 percent a year back in those days) – there is a pool of talent of African-Americans, Hispanics and other minorities, that we were not tapping into in terms of recruiting. We were hiring anywhere from 250 to 350 what we call management trainees per year and we were not tapping into those other pools of talent. In order to continue that pace of hiring young management trainees to support our growth we needed other avenues to recruit. MBJ: Why it was so important to tap into those pools of talent?
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Montgomery Business Journal September 2011
Holloman: The reason it is so important is because it’s a deep pool of talent in those African-Americans and Hispanics and other minorities including women – in those communities that could really, really help Cintas in terms of supporting our growth and initiatives. It was also very important from the standpoint of what they bring to the table. MBJ: What do they bring to the table? Holloman: They bring a diverse perspective, which is also very important. They help us in terms of how we are viewed in the community as a whole. They help us with our customer base as our customers are interested in diversity and wanting to know where we are. Plus, it helps us better understand the diversity in our customer base. As you look at different business owners – more minorityand women-owned businesses – how do we best market to those businesses? It helps in all those ways, but fundamentally starting out it was a matter of we need talent and we’re not tapping into all of the pools of talent that are out there. MBJ: What are some common misconceptions about diversity – maybe some things that it is not? Holloman: For us and me personally, diversity is not only about race and gender. There is diversity on many fronts whether it be different orientations. Fundamentally, it’s about different thought. By definition for me, when you bring in people of different cultures they will bring in different thoughts, innovation and things you probably haven’t thought of before. One of the misconceptions is that it is only race and gender, but it’s much bigger than that. That is very important. Another misconception about diversity is that it is not
only what defines you as a company in terms of what is important – it’s not about numbers; it’s not about just doing it because it feels good. I think that is a part of it, but it’s driven by the fact that it’s beneficial and needed for our business along with the fact that it is the right thing to do. MBJ: Doesn’t it also help with your bottom line? You’re also saying it helps with your standing in the community; with your clients; and with your employees. It’s helping Cintas be more successful. Holloman: Absolutely, and anybody that thinks it is only helpful from the standpoint of you looking diverse and appearing to be a good citizen – if they are looking at it from that perspective – I believe strongly they are missing the boat because it is absolutely key to our top line; key to our bottom line because of the diverse thoughts, creativity and innovations that a multicultural organization brings. Also, our customers ask us and want to know where we are on diversity. It (diversity) is very important to our customer base. And you link it to the fact that this is going to continue to expand. More and more companies are headed up by minorities and women. The population as a whole continues to be more and more diverse. We need to be able to interact and work with all aspects of our customer base. Continued on Page 16
The population as a whole continues to be more and more diverse. We need to be able to interact and work with all aspects of our customer base. September 2011 Montgomery Business Journal
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Continued from page 15
MBJ: Is this something new – clients asking about a company’s diversity? Is it possible a customer will or won’t do business with a company that is not diverse? Holloman: I would say that for me it’s not new, but (it depends on) what industry you’re in and what your customer base is. It has evolved and I think it has become more, more and more important. If you look at years ago – 20 to 30 years ago – very large Fortune 100 and Fortune 500 companies, I believe that for many of them diversity has been an opportunity that they have pursued for years. But now I see even medium-sized firms - Fortune 1,000 firms – are also pushing and wanting to be‌ where your company is around diversity and how diverse your work force is. They are interested in it from the perspective that it’s the right thing to do, but also from the perspective that it demonstrates a certain level of innovation and creativity. I think diversity from a customer standpoint plays an even bigger role in influencing our customer base in terms of working with us, and that is supplier diversity. So you move from personnel and staff diversity to supplier diversity. When you get into the area of
supplier diversity the customers are far more demanding in wanting to know where you are with supplier diversity. MBJ: You are the keynote speaker for the Chamber’s Diversity Summit. Would you share some thoughts about your speech? Holloman: I’m not specifically ready. I try to get a feel for the community and the group that I’m speaking to and craft what are my fundamental beliefs around that. I have started thinking about it, but I haven’t started to put pen to paper yet. MBJ: The theme of the 2011 Diversity Summit is “Engaging a Multicultural Workforce.� That is exactly what you have been talking about and how it is important on so many different levels. Holloman: Yes, it is. I love the theme and I think the theme is right on. What I have found in my many, many years out here in the workforce is that often times what companies start off doing targeted at their minority or women employees, they soon learn those things are appropriate for all employees. One of the things that I would really stress is the need to communicate –
Human Resources
make sure that you are communicating a vision, a mission, etc. of the organization and that your employees are fully engaged in helping to deliver that mission and vision. Of course that would be true for all of your employees. One of the things that I talk a lot about is maintaining an environment of collaborative engagement where every partner (employee) can maximize their contribution to our collective success. I think that applies to everybody – maybe some special care with new employees who come into the organization and/or minorities and women. I think it’s very important and when you look at how do you engage in a multicultural work force, is young people coming into an organization – especially minorities and women – when they interview a company – they want to see people in position that are like them (minorities and women). They want to see those people in positions at high levels of that company so that for them they process that. ‘Ok, my sex or my ethnicity is not a barrier because I’ve seen others that look like me in those positions.’ If you come into a company and you don’t see anybody in those positions it doesn’t mean that that company
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Montgomery Business Journal September 2011
is not supportive of diversity. But that young person processes that like, ‘Wow there is nobody there yet. I wonder if that could be the reason.’ MBJ: How important are events such as the Chamber’s Diversity Summit in helping companies and the community? Holloman: I think they are extremely important. It’s no different than getting people together to talk about some other economic situation or some other great problem-solving methodology for what’s the latest and greatest in analytical data around your finances. All of those things continue to evolve, continue to grow and continue to get out best practices. I think these types of forums continue to help the whole initiative around diversity and inclusion. You see that there are others that are in the same boat as you are. People can share best practices. People can network. People can be challenged on what they are doing or not doing. I think this is like with any other topic – these types of forums should and probably will never end. There will always be some level of them (forums) because they provide great opportunity for people to share best practices. MBJ: Doesn’t the Diversity Summit help energize or recharge the batteries of those attending the event? Holloman: Exactly. I agree with that. If you go into a situation like this and your company may be struggling with it, you can see that others have struggled, but they made it and that can give you hope that you can make it or there is a best practice out there or there is somebody there you may want to hire. Any of that can come into play and it can recharge people and help people understand they are not in it alone. There is help available. MBJ: Please talk about the company’s minority supplier program and how Cintas has benefited from it? Holloman: Where we benefit from that and I believe has been quite successful if you look at our last three fiscal years: In fiscal ’09, we spent $118 million with minorityand women-owned businesses, which represented 8.77 percent of our total spend. In FY (fiscal year) ’11, we spent $158 million with minority- and women-owned businesses, which represented slightly over 11 percent of our spend. We made a lot of progress in that area and where it’s important to us – it starts with if you don’t tap into these minority- and women-owned businesses you are missing out on opportunities to get the best products, the best services at the best price. These
companies are competitive. We look at all of our suppliers. We look at who can add value and they can add value in the area of the quality of their service and their price. Beyond that they can add value because many of our customers absolutely want to know where we are in terms of diversity in relation to suppliers. They absolutely demand that we share that data; that we have that data and that we have a solid, robust program. They want to know that. The minority- and womenowned businesses not only fundamentally provide great products, great services, great value… do all of them succeed? No, but generally they are providing that and that enhances our value by them being with us in terms of what we are doing in the area of diversity. It enhances our value because our customers are looking for that.
MBJ: What are some simple, inexpensive initiatives that small companies can implement to enhance an existing diversity program or to create one? Holloman: First, let’s separate out diversity in employment and your employee rates vs. client diversity. In the employee rates, it sounds a little simplistic, but for me fundamentally you’ve got to decide you want to do it. You get to the point of… where you do it instinctively. Let me get off my soapbox. Fundamentally, that’s where it has to start. Then I think it’s a matter of saying if you don’t have any minorities or women it’s being committed to, ‘I want to find one; I’m going to find two. I know they’re out there. I’m not going to use an excuse of I don’t know where to find them. I’m going to get help if I don’t know where to find them.’ Go get help from
It can recharge people and help people understand they are not in it alone. There is help available. MBJ: You just answered how the minority supplier program wins clients for the company. Holloman: Absolutely. It’s not one of those things where we answer the question if asked. We lead with the answer. We have an initiative, here are our suppliers and here’s the progress that we made. I would say five, six, seven years ago, we would answer that question if asked. Now, we lead with the answer.
a recruiting company or consultant or other employment businesses that you know. It starts with hiring. Then depending on your size and how much recruiting that you do and how often you hire, you can do things like Continued on Page 18
September 2011 Montgomery Business Journal
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Continued from page 17
when you know there is a position available you make sure that (you) have a certain number of minority and women candidates for the position. We are just absolutely committed to making sure that that position coming up that we are going to select from a diverse pool of candidates. That’s one thing you can do immediately and quickly. You still should choose the best person, but you also have to choose the best person as it looks at the broadest possible picture of what you’re trying to accomplish. You have to look at it from that perspective. You need that infusion of minorities and women if you don’t have any. Mentoring is very important, and networking. You can’t underplay the need for training. Don’t assume that the majority members of your organization all understand and get inclusion and diversity. Those may be some tough training sessions to help people overcome their historical or cultural biases. Those can be tough and they were tough here at Cintas. They help people understand where they are so they can move to a different place. MBJ: Any other suggestions? Holloman: Another thing you can do is if you do have women and minorities already working in your company don’t forget to go and talk to them. If you’re not happy with where you are from a diversity and inclusion standpoint, get those folks together and find out how they are doing in your company; find out if they don’t like their superiors; find out if they feel good about the culture and they feel like they are being given opportunities. You just absolutely cannot be scared to go get that data. MBJ: You’re talking about the importance of communication.
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Montgomery Business Journal September 2011
Holloman: Right and talk directly with them and make sure they know it’s OK and that you want to know how they feel about the company. That’s another thing you can do immediately. You may have the answer right there in your company. There may be some talented individual that is not getting the opportunity so you can tap into that. I do emphasize if you don’t know what to do, get help. Getting help is not a sign of weakness – it is a sign of strength. MBJ: Are we at a point in today’s business world that companies really do understand what diversity is and why it’s important? Are we there yet or still moving toward that outcome? Holloman: I believe that we are closer, but I don’t know how far away we are from being there. I know we are not there totally, but I believe that every day we get closer. I want to believe that and I do believe that. It’s still not systemic throughout all businesses in the United States and it’s even not systemic throughout companies. I would be misrepresenting to you if I said that I am absolutely 100 percent sure that we have no issues anywhere in Cintas as it relates to diversity. I know we do. I don’t know specifically where they are, but the company is just too big for us not to have any. I know it’s out there. Progress has been made and continues to be made, but are we where we want to be as (far as) systemic and instinctive for everybody? The answer to that is absolutely no. •
Down with the Pounds, Up with the Dollars Small business owner employs aggressive marketing to grow company by David Zaslawsky
(Editor’s note: This is one in an occasional series about how companies have dealt with difficult economic times.) Down with the Pounds CEO Yolanda TurnerWilliams not only opened her business during the Great Recession, but she also expanded during the financial crisis. She even expanded a second time last November during a sluggish recovery. Turner-Williams is successful with her medical weight loss business for several reasons. “We were providing patient care that was over and beyond what you were expected to do in a weight loss clinic,” she said. She said she also launched an aggressive advertising campaign, which wiped out her savings. “We spent over $50,000 our first six months on advertising,” Turner-Williams said. “My son and I lived very frugally for a long time.” She read books and talked to business owners and they told her “you have to spend money in order to make money and brand your name. I was a new company – nobody had heard of us. Word of mouth is great, but people have to come in to know about you.” She was running television ads and was on the Internet, but her business sales soared when she began a radio ad campaign. Her number of patients more than doubled. Turner-Williams, who quit her job as a clinic administrator at Chilton Medical Center, opened Down with the Pounds locations in Montgomery and Clanton in June 2008. She said patients asked her to open a Millbrook location, which she did in November
2008. She opened a Prattville location in November 2010 because of patients’ requests, although her accountant and attorney advised against a fourth location at the time. She has 13 employees. “I feel like the tide is turning,” TurnerWilliams said. “We’re coming out of a recession and Prattville and Millbrook are growing.” Since opening her business, the clinics have treated a combined 6,200-plus patients. The number of daily patients varies from summer to the January-May period when about twice as many patients visit her clinics. Turner-Williams said about 40 to 50 patients are currently visiting the Montgomery location daily compared with about eight patients daily at the Prattville location and six to eight at the Millbrook site and six daily in Clanton. Prattville, Millbrook and Clanton each have about 20 patients daily from January to May while Montgomery averages between 80 and 90 for the same time period. “We provide patients with a way to lose weight and to change to healthier lifestyles,” Turner-Williams said. “It’s physician-monitored and we teach you about meal planning. We do injections and spot fat treatments as well. We work with several gyms in the area where we refer our patients.” The company also offers a new line of supplements and is launching a workplace wellness program in September. “We do a weight loss work-up on your employees,” Turner-Williams said. “We get them motivated about losing weight the healthy way. We follow-up with them every month. We get all the employees involved as well as
Yolanda Turner-Williams is CEO of Down with the Pounds.
the business owners. We believe that if you provide a healthy environment you get better performances from your employees and it drives down the cost of health care.” Turner-Williams said she and her regional manager will be contacting businesses about the workplace wellness program. She said as they get commitments from employers, she plans to hire three people to run the program. Sales have declined this year after growing 25 to 30 percent in 2009 and 50 percent in 2010, according to Turner-Williams. She said she has been offering discounts to some patients and has even treated some for free. She said patients will remember how they were treated during a slow economic recovery and will come back to the clinic. She also will benefit from Alabama having the second-highest adult obesity in the country behind Mississippi and the City of Montgomery ranked No. 6 on the mostobese list for communities. Turner-Williams said “the patients are going to start coming back and are going to want to spend money and take care of their health” when the economy improves. “We are consistent. We are here. We care about our patients and we work with them.” •
September 2011 Montgomery Business Journal
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© Fouts Commercial Photography
© Fouts Commercial Photography
Chamber News
Kim Brantley (right) is president/CEO of Employment Solutions of Alabama, LLC.
Room to Giving Businesses
Grow
Chamber’s Small Business Resource Center Offers inexpensive alternatives to offices
by David Zaslawsky
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Montgomery Business Journal September 2011
Co-working space members have options for hourly, daily, weekly and monthly rates, which range from $15 for a half day to $225 a month for a private office. The members who rent monthly also receive four to eight hours a month in a conference room and have 24/7 access to their desk or office.
Before launching her company, Pam Brantley was considering working out of her house – a sunroom to be exact. She was concerned about being “complacent” working at home, but she was worried about the costs of starting her own business. Brantley did attend and graduate from Entrepreneurial University, which is held at the Montgomery Area Chamber of Commerce’s Small Business Resource Center. That was where she heard about co-working spaces at the Small Business Resource Center (SBRC). She opened her business – Employment Solutions of Alabama, LLC – the same day the SBRC began offering coworking spaces in a 3,000-square-foot room. “When I heard about the co-working space, I definitely wanted to take advantage of that,” Brantley said. Brantley’s co-working space is called “Home Away From Home,” which is a dedicated desk. That is her desk whenever she goes to the SBRC, as opposed to any other desk. “You use the same desk and the same filing cabinet,” Brantley said. “It’s just like being in an office.” That office is shared with others. There are nine co-working spaces. There are also private, furnished offices.”
Co-working space members have access to a copy machine, faxes, printer, secure Wi-Fi, and reception services, which include someone answering your phone and taking messages. Co-working space members also have a physical address. There are two private spaces – small offices – that members may use for private phone conversations or to meet with a client. Brantley’s start-up costs for her business were a computer, cell phone and marketing materials. Brantley said she decided to open her business with a co-working space because it slashed her start-up costs; she could start out on a small scale “and be in an environment and atmosphere where I can have handson help,” she said, referring to counselors from Service Corps of Resource Executives. The SBRC offers a wide range of training activities that are available to co-working space members.
Co-working space
For information, contact Douglas Jones, Montgomery Area Chamber of Commerce vice president of business services and executive director of the Chamber’s Small Business Resource Center at (334) 240-6864 or e-mail djones@montgomerychamber.com
Another advantage to the co-working spaces is a short-term commitment. Members do not have to sign a long-term lease or even a six-month lease.
“Everything is right here at my fingertips vs. going out to offices,” Brantley said. “It’s more convenient here.”
If their business grows, a co-working space member could move into a private office in the same room and if the business outgrows that, there are larger offices at the SBRC.
The room also features a large table in the middle, so co-working space members can discuss projects, and collaboration is encouraged.
On the day Brantley was interviewed, she was scheduled to conduct a workshop in the conference room.
“You get to interact with others that you would not get the opportunity to do in a home or working out of a coffee shop,” said Douglas Jones, Montgomery Area Chamber of Commerce vice president of business services and executive director of the Chamber’s Small Business Resource Center.
“All of my needs are definitely satisfied here and the convenience is phenomenal,” Brantley said. “It’s definitely a great deal.”•
He said the co-working spaces are “for people that have been working out of their homes or people who have been working in coffee shops. It’s also a site for business travelers staying in a hotel. Some people don’t need four walls. They just need a place to operate from.”
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Job Leslie Sanders is Alabama Power’s vice president for the Southern Division.
Dream
Sanders named vice president of Alabama Power’s Southern Division
© Fouts Commercial Photography
by David Zaslawsky
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Montgomery Business Journal September 2011
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You could say that for the past 25-plus years Leslie Sanders has been preparing for her job as vice president of Alabama Power’s Southern Division. She has had a variety of positions with the company during that span and once occupied the office that Keith Karst, division customer service manager, sits in. At one point Sanders was handling public relations for the Southern Division. Jan Ellis has been in that position as senior communications strategist. It’s just old home week. “I walked in this morning and said this is Mr. Wood’s office,” Sanders said, referring to past vice president Clyde Wood. Before being named vice president, Sanders was the company’s lobbyist and directed a staff of seven, who worked near the Statehouse. She worked with her predecessor Kenny Coleman, who was promoted to chief information officer for Southern Co., which is the parent company of Alabama Power. “The core skill set from that job (as lobbyist) to this job doesn’t change and that is strong, credible relationships to represent Alabama Power Co. and enhancing the things that make the quality of life better,” Sanders said. “Are you totally upfront? Can the person believe what you say?” Even though Sanders is in familiar surroundings in a city she has worked in for years, she readily acknowledges being a newcomer in the field of economic development. She plans on doing a lot of listening, learning and getting to know the company’s 651 employees. The learning curve won’t be too steep for someone who has been around the area for 20 years and knows a lot of the players.
“It’s great working for company that not only recognizes women, but recognizes and respects the balance that we all try to achieve.” - Leslie Sanders, vice president of Alabama Power’s Southern Division
“Coming from vice president of governmental relations for the state gives you a perception – working with leaders from the governor to senators, representatives, ADO (Alabama Development Office) director and agency heads – and building relationships,” said Sanders, a graduate of the University of Alabama. She said her top priority is meeting with employees. “The job of the division VP is to figure out what the employees need and continue to help them feel valued because I think happy employees make customers happy,” Sanders said. “Our end target market is our customers.”
She said was “surprised and excited” about the various industrial prospects that Montgomery is competing for as well as other various projects in the River Region and surrounding communities. “I do understand there are some incredible opportunities that the Montgomery Area Chamber of Commerce is working on,” Sanders said, “and Alabama Power is partnering with the Chamber. The Chamber is taking the lead and they have an incredible group. I’ll be lending support.” Sanders has accepted an invitation to be a member of the Chamber’s Board of Directors and told the Montgomery Advertiser that she “would love to take a leadership position” at the Chamber. Right now, Sanders is enjoying her “dream job,” calling it a “wonderful opportunity.” Sanders has broken through some barriers during her tenure at Alabama Power, becoming the company’s first female lobbyist and the first female vice president. She is quick to credit “wonderful mentors and wonderful bosses. It’s great working for company that not only recognizes women, but recognizes and respects the balance that we all try to achieve. “One of my bosses told me, ‘Don’t worry about anything – just do your job better than anybody else.’ And it’s really that simple.” •
Although meeting with employees is job No. 1, she is not ignoring other aspects of being the person in charge, including simultaneously meeting elected officials and community leaders. Sanders talked about a trip to Camden to meet with industrial leaders. Her territory spans from Selma to Auburn to Clanton to Greenville. “I am still learning and reading a whole bunch,” she said. “There are things happening that I need to learn about, get plugged-in and support with my time and resources.”
September 2011 Montgomery Business Journal
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Caddell Construction projects, clockwise from the top: First Brigade Complex, Fort Bragg NC; Super Clinic at McDill Air Force Base, FL; U.S. Consulate, Istanbul, Turkey.
WorldWide success Caddell Construction crafts a reputation around the globe by David Zaslawsky
Š Fouts Commercial Photography
The firm is ranked among the top 100 construction companies in the country by Engineering News-Record. The firm is ranked among the Top 10 largest private companies in the state, according to Business Alabama. Three generations of Caddells work together building Caddell Construction Co., Inc. Left to right: Kirby Caddell, CEO and Vice Chairman of the Board of Directors; John A. Caddell, Chairman of the Board of Directors; and J. Mac Caddell, Construction Executive.
Yet, Montgomery-based Caddell Construction Co. Inc. flies below the radar.
e ess
“We’ve always been the ones to say, ‘If somebody else doesn’t want to do it, we will.’ That doesn’t mean we don’t question ourselves occasionally,” Caddell said. “We’ll go where a lot of people don’t want to go and don’t want to take the risk. We pride ourselves in doing just that.” If you ask people if they heard of Caddell Construction you will most probably hear, “No.” Even its setting in Lagoon Park, keeps the firm out of the public eye. Drive past Fire Station No. 5 and you will find the company’s very modest headquarters.
For example, here’s what Caddell said about one of those projects.
Caddell Construction is anything but your average company. The company’s combined revenue the past two years topped $1 billion.
He recalled building a Trident submarine enclosure, which enabled the Navy to work on the ship. “That was something we had to do in a very short amount of time and nobody else wanted to take that risk or liability,” he said.
“We’re just an average Joe and we want to be that way,” said Kirby Caddell, the company’s CEO and vice chairman of the board of directors. “We’re just normal guys trying to earn a living and trying to provide a workplace for a lot of families. We enjoy what we do. “I’ve always said I’m a worker bee. I love to work. We’re just kind of quiet – mind our own business.” The company may quietly go about its business in Montgomery, but on the world stage Caddell Construction is a leading actor. The company has been the State Department’s go-to-guy for U.S. Embassy and consulate work in some of the world’s most inhospitable places and that includes the current $416 million U.S. Embassy project in Kabul, Afghanistan. The company’s overseas projects sound like answers in a geography bee: Sierra Leone, Mali, Nepal, Papua New Guinea, Burundi, Cameroon, Guinea, Nigeria and Djibouti just to name a few. Those projects range from building new embassies or consulates or adding buildings to the compound or security upgrades. It is a badge of honor for Caddell to work on the most difficult and demanding jobs. That’s what it states on the company’s website. It could also be added that some of the projects are or were quite dangerous such as building a U.S. Embassy in Kabul during a war.
“When we landed in Freetown, Sierra Leone, there were still 35,000 U.N. troops there. I think most people equate Freetown with the blood diamonds and massacres.”
U.S. Embassy, Conakry, Guinea.
Caddell Construction Co.
In addition to State Department projects, the company has completed numerous military, judicial and correctional, health care, industrial and aviation-related projects.
2010 sales
The company’s nearly 30-year-old resume is so diverse it includes restoration of a statehouse, building a lodge and conference center, convention center, medical complexes for the Department of Veterans Affairs, building a desalination plant on Ascension Island and building a large wastewater sludge pumping station in Cairo. Caddell Construction specializes in high-tech projects that Caddell calls “another niche market.” He said, “There are not many of us that can do those high-tech projects jobs and dangerous jobs.”
Most expensive project
Caddell Construction typically juggles 30 to 35 projects at any given time, according to Caddell. “It’s very complicated, very busy and very stressful,” said Caddell, who had just returned from London. Another executive had just returned from Helsinki, Finland, and there also was a recent visit to Oslo, Norway. All related to bidding on U.S. Embassy projects. “As you can imagine right now, the success rate is not very good with the economy in the condition it is,” Caddell said, referring to winning bids. “The projects are going extremely cheaply, but there are still projects. We are not going to go out and bid against ourselves or contractors who are coming into the federal market right now. They have been Continued on Page 26
$537 million Number of employees
About 200
$416 million – building U.S. Embassy in Kabul, Afghanistan Number of projects
230
Number of years in business
27
Total amount of contracts awarded
Nearly $5 billion
First contract awarded
$5.3 million for new dormitory buildings at Goodfellow Air Force Base in 1983
“Legalized Gambling”: Caddell’s Bidding Projects Offer Unique Challenges by David Zaslawsky Bidding is a complicated process, especially on the huge, complex multimillion-dollar projects that Caddell Construction Co. Inc. bids on. The company built the U.S. Embassy in Freetown, Sierra Leone, one of many overseas projects, and of course there are unforeseen problems. Talk about unforeseen problems. “We had to provide sand for the concrete mix,” said Caddell Construction CEO Kirby Caddell, who is also vice chairman of the board of directors. “The only sand that would meet the specifications in the contract documents was sand that we collected from the bottom of a river that was 80 kilometers (about 50 miles) away.” Here’s what the company had to do: > Have locals take a boat to the center of the river. > Dive down and scoop up sand. > Bring the sand back up and put it in the boat. > Take the boat back to the river’s edge. > Put the sand in a dump truck. > Haul the sand back to the job – about 50 miles away. “Now we didn’t expect that and we didn’t price that,” Caddell said. “You could imagine the delays and the costs – huge.” Caddell, who has bid on projects for decades, said it takes a team to put together a price. “We all work together and we all have a piece of the bid,” he said, but bidding on projects in dangerous places has risks. “It’s interesting when you bid a job that you counted on a train – a rail – to get your materials somewhere and rebels destroyed the train,” Caddell said. “Now, how are you going to the materials to the (job site)?”
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There was another job when Maoist rebels held as many as 51 containers of materials for a Caddell Construction project. “Imagine the logistics of trying to get a backhoe – a piece of equipment – to Bujumbura, Burundi, which is in the middle of Africa,” Caddell said. “We’ve had instances where we have sent equipment and by the time the equipment gets to the job, all the hydraulic fluid, hydraulic hoses and all the controls were stolen.” How do you bid on such massive projects? “I think we term it legalized gambling,” Caddell said. “We have a lot of good people with a lot of experience who have done this for years and years.” Bids take into account costs of materials, labor, regulations, taxes and logistics. Caddell is currently taking the lead in bidding for a new U.S. Embassy in London. “It could be a half-billion dollar job so obviously that gets my attention,” he said. “I need to put my full effort into this project with everybody else who is involved to help come up with the right price.” Caddell said sometimes the firm “really estimates it right” and other times, we say, ‘what were we thinking?’ Sometimes, you may feel confident of the bid in the beginning, but then you get in there and find out it was wrong.” At least in London, the company won’t be forced to get sand out of the bottom of a river to make concrete. •
Continued from page 25
doing private work for a long time and they don’t really know yet what they are facing. They will get a couple of these jobs and eventually they will find out.” Caddell Construction’s top executives know all too well the pitfalls of overseas work and dealing with language barriers, social customs, regulations and sometimes warring factions. “We have got some incredible individuals that work for us who have extensive overseas experience,” Caddell said. “They work with the locals in trying to determine all the regulations, taxes, logistics – everything that goes on with a project like that. Most of those putting those jobs together are all based out of here. They travel to these countries.” Over the years, Caddell Construction has built a solid reputation, but according to Caddell, that only goes so far in the world of construction. “Reputation can be priceless; however, I don’t know that I could actually tell you that reputation ever got us a project. Our reputation in federal contracting work is very good and with that reputation you are approved or prequalified to bid on a lot of projects, which is very important. If you can’t be prequalified, we’re out of business because now (the government) requires prequalification on virtually everything.”
Caddell Construction completed the U.S. Embassy in Kathmandu, Nepal in 2007.
What makes Caddell Construction so successful is their quality of work, safety record and integrity. Of those three attributes, Caddell stressed that safety comes first. Safety is not just preached, but practiced. He recalled a huge billboard at one project with a dad in his hard hat and a child in his lap. “This is the reason safety is first – you go home every night to your family.” There is a corporate safety director and safety engineers on every project. Caddell said the company has numerous programs promoting safety including giveaways and those gifts were a pick-up truck, bass boats and televisions. “All of those things we have given away as an incentive to be safe,” Caddell said. “In other words, think about what you are doing first. It keeps safety on their minds and they are always aware of it.” Of course, integrity is important to both the company’s employees and clients. “If you tell a client you will be there tomorrow – you are there tomorrow,” Caddell said. “It is very important in our industry to have that trust.” What truly separates Caddell from others may be the easy access to executives. “If you want to talk to me, you pick up the phone and call me,” Caddell said. “My father is that way (John Caddell is chairman of the board of directors). All of our officers are that way. Everybody is that way. “I don’t have my phone calls screened. Anybody can walk into anybody’s office at any time. We are a very close company and we have close relationships with everybody here.” •
Caddell Construction completed the $330 million U.S. Embassy in Beijing, China in 2008
Company links future to work for foreign governments by David Zaslawsky U.S. Embassy and consulate projects have been Caddell Construction Co. Inc.’s breadand-butter for decades. The company is working on or has completed U.S. State Department projects in Mexico, Bosnia, Guinea, Sierra Leone, China, Afghanistan, Mali, Panama, Nepal, Algeria, Burundi, Djibouti and Cameroon. Earlier this year, Caddell Construction President and Chief Operating Officer Eddie Stewart told the Montgomery Advertiser there were 40 to 50 U.S. Embassy/consulate projects to be built. Caddell Construction CEO Kirby Caddell said there are enough of those projects to last through 2023 or 2024. “We are looking abroad in other areas that are not the State Department,” Caddell said. “We like to follow the U.S. government because we get paid, but we are also looking at foreign governments.” He said the company’s long-term future will be infrastructure projects for foreign governments and those could be water projects, sewer projects, hospitals and the energy industry.
“We have to continue to open our eyes and continue to look out at what’s out there and what possibilities will be out there in other markets that we might be successful in. “We’re not a company that is something for everybody. We need to be choosy so we don’t just go out like a shotgun. We need to really look at where we think we can be successful.” Caddell wants the company poised to take advantage of technological changes in the energy industry. He is adamant about not taking on project for the sake of having one. “You can go out of business quicker with bad work than you can with no work,” Caddell said. “We’ve kept our people busy so far.” But as the U.S. government work starts to thin out, Caddell said the company will step up its game in other areas. “We need to go back and find out what did we do wrong; how can we straighten that out; and how can we be successful in those areas.” •
“It’s like anything – if you sit around and don’t plan for the future you die,” Caddell said.
September 2011 Montgomery Business Journal
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Striking a Chord Capital of Dreams marketing campaign looks to the future by David Zaslawsky
When Todd Strange became Montgomery mayor in March 2009 he went on a listening tour. He asked numerous city employees the following questions: What is it about Montgomery? What is our vision? What’s our strategic direction? What drives us?
Montgomery Mayor Todd Strange
He said a lot of the answers came back to the birthplace of civil rights and the cradle of the Confederacy. From there, he gathered about 100 top managers in the city for a day and half to discuss Montgomery’s strengths and weaknesses. The result was the city’s vision statement: “Sustain a safe, vibrant and growing Montgomery in its entirety that we’re all proud to call home.” He said the vision statement was great, but a marketing piece was needed. “We’ve had great historical significance as a city and we don’t want to forget that, but you can’t live in the past,” Strange said. “We decided we really wanted to have a marketing campaign that would be forward looking. You have to market to the future.”
Companies competed for a marketing campaign and LWT Communications was selected. Strange recalled meeting with LWT and reviewing the company’s proposals that ran the gambit. It was a group decision to settle on the Capital of Dreams campaign. “We are the Capital City and there have been a number of dreams that have started here,” Strange said. “They are our dreams; they are individuals’ dreams; and business’ dreams. Hyundai had a dream – their dream was coming to the United States and their dream was to build a plant and it happened to be in Montgomery, Alabama. “Company after company and entrepreneur after entrepreneur – they have a dream. What we want to do is provide the framework and the infrastructure in which those dreams get fulfilled. “What that said to us what that we own dreams – that we are the Capital of Dreams, but you just can’t stop there. You have to add City for Success. While it’s not part of the moniker, it is part of the equation.” That was the genesis of the Capital of Dreams campaign, which was launched early October of 2010 with great fanfare, including a news conference, signage and a much-talked about video showcasing the City of Montgomery. Strange said the concept was tested not only by a local focus group, but by regional and national groups as well. Strange said that LWT convinced him “you could hang lots of things on Capital of Dreams, such as success starts here; start your business here; retail starts here; and projects that we could hang under the banner of dreams start here.” Continued on Page 30
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Montgomery Business Journal September 2011
With the Capital of Dreams theme ready to launch, the question was where to concentrate the campaign, and the conversations ranged from local to regional to quasi-nationally. “At the end of the day, we said we had to convince ourselves first,” Strange said. “We would take the first year and try to convince ourselves that we are the Capital of Dreams.” Now, almost a year later, the $200,000-plus Capital of Dreams campaign has moved into a second phase with a longer video – two more verses – funded by the Montgomery Area Chamber of Commerce to replace its former promotional video. “Now we show it anytime a military group is coming,” Strange said, “and we show it to conventions that come, as an introduction piece. It’s included in every packet that we send out for economic development.” The third phase – depending on funding – will be promoting Montgomery to Birmingham, Atlanta, Nashville and perhaps the coast. “We’ll ask businesses, tourists, individuals to come and check out Montgomery, Alabama, and experience the Capital of Dreams,” Strange said. •
Signage on Dexter Avenue promotes the Capital of Dreams campaign.
When you bank with a credit union, your money stays right in your hometown, helping you, your neighbors and the entire community grow and prosper.
Don’t say goodbye to your money. Say hello to Guardian! myguardiancu.com September 2011 Montgomery Business Journal
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Signage reinforces positive developments by David Zaslawsky Although the Capital of Dreams campaign started nearly a year ago, it is difficult to gauge its effectiveness. “I probably can’t define it, but I’ll know it when I see it,” Montgomery Mayor Todd Strange said. “I’m not disappointed or unhappy with where we are.” The multi-faceted campaign has featured several goals. One has been to make sure the campaign hit the local community quickly with signage. Another goal has been to let people know the various projects the city was working on.
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Montgomery Business Journal September 2011
The mayor warns that it takes time. He said that five years ago, there was nothing to do downtown after 5 o’clock and “there was nobody downtown.” That has all changed with the Riverwalk Stadium, Riverwalk Amphitheatre, Riverwalk, Renaissance Montgomery Hotel & Spa at the Convention Center, Hampton Inn & Suites and The Alley as well as façade renovation and sidewalk improvements. “I cannot move around this city without people telling me how much they like what’s happening in Montgomery,” he said.
“You want to publicize the positive things going on,” Strange said. “Everywhere we are doing projects, we wanted to have a branding – to brand us as the Capital of Dreams.
When asked what his dreams are, Strange replied: “I want Dexter Avenue to be as vibrant as Commerce Street. I want Maxwell Boulevard to be as vibrant as Cloverdale is. I want West Fairview to be as vibrant as EastChase is. That’s what I want to happen.”
“When you see the sign, hopefully you think about this as an improvement project and it’s being done by the city and oh, yeah – it is part of this Capital of Dreams. A campaign is only as good as the execution of what it is intended to do.”
He also is looking forward to Montgomery being the most populous city in the state. “We are only 6,000 behind Birmingham. There is a certain prestige being the No.1 city in a state, but just being No. 1 for No. 1’s sake is not where I want to be.
He said the campaign is a multiyear strategy. I hear it (Capital of Dreams) more and more,” Strange said. “As we go down this road and as we begin to have successes and dreams are realized then I think people will embrace that moniker.”
“I want to be No. 1 in our hearts and our minds so everybody can promote Montgomery, Alabama, whether it be for family reunions; whether it be for weddings; whether it be for businesses. I want us to be as successful as we can conceivably be.” •
He said one way to measure the campaign’s success is to conduct annual surveys and compare those with a survey that was done last December.
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aliantbank.com September 2011 Montgomery Business Journal
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Member Profile
Dr. John Buettner and Dr. Kendall Dunn are married dentists with separate practices.
Two Doctors in this House Husband, wife run separate dental practices by Jennifer Kornegay
Our families play an integral role (for better or for worse) in who and what we turn out to be. Such is obviously the case for Dr. Kendall Dunn and her husband Dr. John Buettner. Dunn is an orthodontist and Buettner is a dentist, and they both trace the roots of their current careers to influences from their families.
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Montgomery Business Journal September 2011
Dunn grew up in Wetumpka, and her grandfather was a doctor. When she was a child, he would take her to the hospital with him when he did his rounds. Those experiences had a profound effect on the young Dunn. “I knew very early that I wanted to be Dr. Dunn like he was,” she said. “I knew I wanted to go into the health care field, but I wasn’t sure in what way until I was older.”
Dr. John Buettner with Montgomery Dentistry
She graduated from the University of Mississippi and the University of Alabama School of Dentistry, where she met John. The couple married when she finished orthodontics school at the University of Tennessee. “By the time we met and got married, I was already Dr. Dunn, and so I kept my name,” she said. “I had always wanted to be Dr. Dunn.”
Procedures Performed
Buettner grew up in Cullman around the family construction business, and almost chose that path, but eventually, he decided to venture out on his own. He chose dentistry because of its similarities with construction. “It offers some of the same technical aspects and working with people aspects that I always liked about construction, so it was the right fit,” he said. He graduated from the University of Alabama before heading to dental school. Buettner began practicing in Montgomery in 1988, and his dental practice is called Montgomery Dentistry. Dunn’s practice, called “Just for Grins,” started in 1990. While the two are in somewhat complementary professions, they never even considered setting up shop together. “It’s not a smart business move really, but it also just wouldn’t work for us,” Buettner said. Dunn agreed. “One of the things that appealed to me about orthodontics was being my own boss and setting up my practice my way,” she said. “I get to call the shots, but it would be hard to call all the shots if he was my partner. Our separate practices make for a happier marriage.” Yet, the similar nature of their careers has benefited their marriage relationship. “We do talk shop at home,” Buettner said, “mostly the business side of things, managing our staff and so on. The fact that we share common experiences gives us a good foundation of understanding. If one of us is going to be late because of a patient, we both understand. It makes us more patient with each other.” “It’s also great for problem solving,” Dunn said. “We can bounce things off of each other and share our similar frustrations.” In addition to the everyday frustrations of managing and running a small business such as their respective practices, the couple faces other industry-specific challenges, too. “One of the biggest difficulties we are facing now is the fact that the government sees the health care problem as access-to-care issue, so they keep coming up with rules to promote access to care for the general population,” Buettner said. “But I believe the real problem is patient education, people accepting responsibility for their own health and dental care. Dental disease in most cases is very easy to prevent, but it can be very difficult to treat.” Buettner believes many are focused on the wrong end of the debate. “The focus should be on prevention,” he said. “Then there is enough care to go around, and it is affordable.”
Number of Employees
23 total (4 doctors, 14 licensed hygienists, 5 administrative staff) Family, cosmetic and general dentistry Office Location
4790 Woodmere Blvd., Montgomery Dr. Kendall Dunn with Just for Grins Number of Employees
16 total (2 doctors and 14 staff members) Procedures Performed
Children’s and adults’ orthodontics Office Locations
7051 Halcyon Summit Drive, Montgomery 68 Village Loop, Wetumpka 207 Ashton Plaza St., Millbrook drinks and candy can destroy your teeth,” she said. “And they are everywhere. We didn’t have the easy access to all that sugar when we were kids.” Buettner echoed her sentiments. “When we graduated dental school, we were told that dental disease and decay would soon be a thing of the past, but it has come roaring back,” he said. “Now we are seeing decay in our young patients; we are seeing the precursor to adult obesity and then diabetes.” Despite some challenges and frustrations, both Buettner and Dunn love their jobs, but for different reasons. “I like the business aspect of it,” Buettner said. Dunn knows the confidence boost that comes with a healthy smile from personal experience, and giving that same feeling to her patients is her favorite part of the job. “It made a big difference in my young life to go from Bucky Beaver teeth to getting my braces off and having a great smile,” she said. “So I get the most excited when I have a new patient, and I see their smile and in my mind I can see it corrected. They don’t even know yet how much better they will feel about themselves.” Buettner credits the Montgomery Area Chamber of Commerce for creating a positive atmosphere in the city and region. “We’ve both been Chamber members for 20 years, and we’ve benefited from all it does, especially its work to bring new businesses here. That brings us new patients. The fact that our Chamber is really a Tri-County, regional Chamber is great. The way all the communities work together is so good for us all.” •
The main problem Dunn sees affecting today’s dental health is the abundances of foods and drinks that can severely damage teeth. “Soft September 2011 Montgomery Business Journal
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Montgomery Business Executives Forecast Strong Third Quarter by David Zaslawsky
Montgomery area business executives are fairly optimistic about the third quarter compared with other metro centers. The Alabama Business Confidence Index (ABCI) for Montgomery respondents was 54.0; Mobile was 52.6; Birmingham 50.6; and Huntsville 49.9, according to the University of Alabama’s Center for Business and Economic Research which conducts the quarterly survey. The Montgomery respondents are forecasting strong third-quarter sales (59.9) as well as industry profits (55.0), industry hiring (55.0) and capital expenditures (55.0). Growth in the manufacturing, finance, insurance and real estate sectors are fueling those forecasts, according to the Center for Business and Economic Research. The overall third-quarter index slipped 4.4 points from the second quarter to 51.4, which is still positive, but is similar to the 51.6 index in the third quarter of last year. The most optimistic sectors are retail trade, transportation, information, utilities, finance, insurance and real estate. The health care sector is the most pessimistic. The outlook for the national economy has dragged down the index – falling 9.3 points from the second quarter. All six components for the third quarter declined from the previous survey. The following is a component-by-component breakdown of the third quarter ABCI: National economy The component took a major hit, falling to 44.3, which indicates contraction. It is the only category less than 50 points. More than 40 percent of the survey participants are forecasting a decline in third quarter while another 38 percent expect the economy to remain the same as the second quarter. About 20 percent expect the national economy to improve in the third quarter. Alabama economy This component declined nearly five points to 52.5. It is the fifth straight quarter than the outlook has been more
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Montgomery Business Journal September 2011
ABCI quarterly breakdown 2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
Q1
54
58
67
62
59
54
47
32
49
55
Q2
63
56
67
61
61
56
43
32
50
56
Q3
60
61
69
60
59
57
43
46
52
51
Q4
56
61
66
54
54
51
44
47
48
Source: University of Alabama’s Center for Business and Economic Research
than 50. Nearly one-third of the respondents anticipate an improved economy in the third quarter compared with about 22 percent who are negative. About 45 percent expect no change in the quarter. Industry sales This component declined the second most (5.8 points) from the second quarter after reaching an almost five-year high of 61.9. Despite that decline, it still is the most positive at 56.1. Almost 44 percent expect sales to increase in the third quarter while only 20 percent are forecasting a decline. About 36 percent expect sales to remain the same. The sectors forecasting increased sales are transportation, information, utilities, finance, insurance, real estate, wholesale and retail trades. The health care sector is expecting a decline in sales while the manufacturing sector is forecasting sales to remain the same as the second quarter. Industry profits The component saw its index slip 3.2 points to 52.6, which is the second-highest total of the six categories. Almost 40 percent expect profits to remain the same as the previous quarter; 36 percent are forecasting an increase compared with about 25 percent looking for a decline in the third quarter. Transportation, information, utilities, finance, insurance, real estate and retail trade sectors are upbeat. The health care sector is expecting profits to significantly decline while the manufacturing sector is
forecasting a modest decline in third-quarter profits. The professional, scientific and technical services sectors are forecasting earnings to remain the same. Industry hiring This component fell by just 1 point to 52.1, the smallest decline of the all the categories. Almost 60 percent of the respondents expect hiring to remain the same compared with 26 percent anticipating an increase and 16 percent forecasting a decline from the second quarter. The sectors expecting to increase hiring are transportation, information, utilities, professional, scientific, technical services and retail. The health care industry is forecasting a decline and hiring is expected to remain the same for the finance, insurance and real estate sectors. Industry capital expenditures The majority of survey participants expect capital spending to remain the same compared with about 25 percent that expect an increase. Nearly 20 percent are expecting a decline in third-quarter spending. The index did decline 2 points to 51.1. Capital spending is forecast to improve in the manufacturing, retail trade, finance, insurance and real estate sectors. Those sectors forecasting a decline in spending are wholesale trade, health care, professional, scientific and technical services. •
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d r e a m m o n t g o m e r y. c o m Photo Courtesy of Mark Dauber September 2011 Montgomery Business Journal
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Member News
Business Buzz The plant has produced three different vehicles since 2006, the Sonata, Santa Fe and Elantra. Mass production of the Sonata began at the site April 5, 2005. Since production began in 2005, HMMA has built more than 1.4 million vehicles.
The 1 millionth Sonata built at the Hyundai Motor Manufacturing Alabama facility was a 2012 limited edition 2.0 turbo.
HYUNDAI PLANT MANUFACTURES 1 MILLIONTH SONATA MONTGOMERY – In an internal celebration, Hyundai Motor Manufacturing Alabama (HMMA) marked its 1 millionth Alabama-built Sonata - a 2012 limited edition 2.0 turbo with a radiant silver paint finish. Employees cheered as HMMA President and CEO Young Deuk Lim drove the Sonata off the quality inspection line with Production VP Ashley Frye and Robert Coleman, HMMA’s team member of the year in the passenger seats. The milestone was reached July 29. “I am so proud of everything our team members have accomplished in the past six years, eclipsing 1 million total vehicles manufactured in November 2009, producing more than 300,000 vehicles in 2010 and now our 1 millionth Sonata,” Lim said. “This milestone provides us an opportunity to celebrate our many achievements and take pride in knowing our Hyundai spirit is alive and ready to reach any goal we set for ourselves.” HMMA has benefited from the enormous popularity of the Sonata in the U.S. marketplace. Its role as Hyundai’s top seller has contributed to the plant operating beyond its original capacity of 300,000 units for nearly two years.
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In another development, Hyundai is No. 1 when it comes to brand loyalty as the Korean automaker has topped rivals Honda and Toyota. Hyundai emerged as the top spot for brand loyalty for the entire second quarter, according to kkb. com (Kelley Blue Book). Hyundai was No. 1 the month of February. Hyundai’s brand loyalty was 52.3 percent compared with Honda at 49.7 percent; Toyota at 47.7 percent; Ford at 45.4 percent and Subaru at 44.8 percent.
Deal received the award in recognition of her continued support of AGA in academia by advancing government financial management courses at AUM. She received her doctorate in public administration from Auburn University in August 2007 with dual minors in public finance and governmental accounting. Prior to her AUM appointment, she served as an accountant with the State of Alabama from 1993-2000.
average agent and can help sellers through the complications of foreclosure avoidance,” she said. MONTGOMERY MULTISPORT WILL TIME, MANAGE MONTGOMERY HALF MARATHON MONTGOMERY – Montgomery MultiSport will manage and time the third annual Montgomery Half Marathon. Hyundai Motor Manufacturing Alabama is the platinum sponsor of the Oct. 1 race. There is also a 5-kilometer race as well as a relay event and mayor’s mile. The race will start outside the Renaissance Montgomery Hotel & Spa at the Convention Center and will conclude at Riverwalk Stadium, home of the Montgomery Biscuits.
Sally Hudson
ARONOV REALTY STAFFER BECOMES CERTIFIED DISTRESSED PROPERTY EXPERT
Packets will be available from noon-7 p.m. Sept. 30 at Riverwalk Stadium and there will also be an expo. For information about the race, visit www.montgomerymarathon.com.
MONTGOMERY – Sally Hudson with Aronov Realty Brokerage Inc. in Montgomery has earned the prestigious certified distressed property expert (CDPE) designation. Keren Deal
AUM PROFESSOR RECEIVES NATIONAL AWARD MONTGOMERY – Auburn University at Montgomery associate professor of accounting Keren Deal was awarded the National President’s Award. Deal, who is the head of the Department of Accounting and Finance, received the award from the Association of Government Accountants (AGA) at the 60th Annual Professional Development Conference and Exposition in Atlanta.
Montgomery Business Journal September 2011
She completed training in foreclosure avoidance with an emphasis on short sales. “It is so rewarding to be able to help families save their homes from foreclosure,” Hudson said. Carol Andrews, vice president and broker with Aronov Realty, said that agents such as Hudson with the CDPE designation have a valuable perspective on the market, and training in short sales that can offer homeowners real alternatives to foreclosure, which can be devastating to credit ratings. “These experts better understand market conditions than the
Collin Gaston
WSFA 12 NEWS WILL DEBUT NEWSCASTS AT 4 P.M., 4:30 P.M. MONTGOMERY - WSFA 12 News will the launch the region’s first 4 p.m. and 4:30 p.m. newscasts in September. “WSFA 12 News at 4 p.m. and 4:30 p.m.” will be replacing “The Oprah Winfrey Show.” “We are thrilled to be adding a 4 p.m. and 4:30 p.m. newscast,” said Collin R. Gaston,
BUSINESS BUZZ vice president and general manager of WSFA 12 News. WSFA 12 News Director Scott Duff said, “WSFA 12 News is committed to covering news in Central Alabama and this additional hour per day will allow us to cover more stories for our viewers.” Duff said the company is hiring new staff. He said the 4 p.m. anchors will be Sally Pitts and Mark Bullock and the 4:30 p.m. anchors will be Pitts and Bob Howell. Gaston also announced the show “America Now” which is currently airing on Saturday and Sunday nights on WSFA 12 News will be moving to 3 p.m. Monday-Friday. “Judge Judy and Judge Joe Brown” will move to the 1:30 p.m.-2:30 p.m. time slot. “America Now” is a news show with stories from Central Alabama and around the country. In another development, WSFA News 12 swept all major news time periods during the May 2011 ratings survey period, according to Nielsen Media Research. Those time slots were 5 a.m., 5:30 a.m., 6 a.m., noon, 5 p.m., 6 p.m. and 10 p.m. WSFA 12 News at 6 p.m. was the highest-rated newscast in Central Alabama with a 23.5 household rating, according to Nielsen. “When the big story happens, we want our viewers to come to us first and that’s what drives us,” Gaston said. “Coupled with the skyrocketing numbers we’re seeing on the Internet and mobile devices, this is very humbling.” WELLS PRINTING CO. ADDS STATE-OF-THE-ART DIGITAL EQUIPMENT MONTGOMERY - Wells Printing Co. has added Kodak Nexpress Digital Production Color Press at the company’s mailing facility. Wells is the only company in the area with the Nexpress. Wells’ clients may order press-quality printing in lower quantities at cost-effective rates and with quicker turnaround times than may reasonably be expected with offset presses.
The award-winning Kodak Nexpress can produce 5,000 letter-size pieces per hour and has the capacity to add clearcoat protective coating, Pantone colors, high gloss to emphasize photos and colors or even raised texture to the printed piece. The ability to print on larger sheets is another benefit. Wells has also doubled its monochrome (black and white) output capacity by purchasing a second Digimaster Digital Production System. The company can now perform larger digital projects because of the Digimaster’s capacity to print up 9,000 pages per hour. SERVISFIRST REPORTS RECORD EARNINGS BIRMINGHAM - ServisFirst Bancshares Inc. has reported record earnings for the quarter and six months ending June 30. The Birmingham-based bank, which has offices in Montgomery, Huntsville, Dothan and Pensacola, Fla., has had 23 straight quarters of profitability. Second-quarter highlights include a record net income of $5.8 million, which was a 45 percent increase from the same period a year ago. The company’s assets have topped $2 billion. “Our focus in solid banking fundamentals has resulted in our ranking as one of the top performing community banks in the U.S. according to SNL Financial,” said Bud Foshee, chief financial officer of ServisFirst Bancshares.
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CAPELL & HOWARD ATTORNEYS RECOGNIZED MONTGOMERY - Ten of Capell & Howard, P.C. attorneys were recently included in the annual publication Alabama Super Lawyers. Those selected from the firm are: William D. Coleman, alternative dispute resolution; Richard H. Allen and J. Lister Hubbard, construction litigation; Henry C. Barnett Jr. and Bruce J. Downey, employment and
Refe Re ferr fe rred rr ed ffor o a rea or rea easoon. n.
(Continued on page 38) September 2011 Montgomery Business Journal
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BUSINESS BUZZ (CONTINUED FROM PAGE 37) labor; Henry H. Hutchinson, mergers and acquisitions; and William K. Martin and Shapard D. Ashley, real estate law. George L. Beck Jr. was selected in the criminal defense category and recently left the firm to become the new U.S. Attorney for the Middle District of Alabama. Terrie S. Biggs was named a Rising Star in employment and labor and less than 2.5 percent of all Alabama attorneys received that honor.
Danny Watkins
WATKINS BECOMES CERTIFIED MOVE CONSULTANT MONTGOMERY – Admiral Movers announced that Danny Watkins has become a certified move consultant. The American Moving and Storage Association makes this certification indicating the highest level of knowledge among moving peers. Watkins, a 15-year veteran of the moving business, is an agent for Mayflower Transit in Montgomery.
Leroy McEntire
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McEntire will continue his work as an independent broker representing developers, landlords, owners, retailers, buyers and sellers. “The scope of properties available to companies and individuals is amazing,” said McEntire, an associate broker. “We can take you from your burgeoning new business retail space to a full industrial location. I am really excited about this new prospect.” The commercial division will focus on retail space with Sturbridge Village, Westminster Shopping Center, Vista View Shopping Center and West Port Shopping Center in Montgomery. It will be located at 8191 Seaton Place. In addition to retail, Alfa Realty is marketing Parliament Place Office Park, Sturbridge at the Oaks Office Park and the peripheral lots surrounding The Shoppes at EastChase. The company is also developing Capital Park near the Hyundai Motor Manufacturing Alabama plant. Capital Park is at the intersection of Hyundai Boulevard and I-65. Alfa Realty has revamped its website www.AlfaRealty.com to include the commercial division. Visitors at the website can access marketing information on various retail, industrial, office and development properties for sale or lease.
Slade McElroy
ALFA REALTY LAUNCHES COMMERCIAL DIVISION
MCELROY NAMED 2011 REALTOR OF THE YEAR
MONTGOMERY - Alfa Realty opened a new full-service commercial division and announced that Leroy McEntire will be in charge of the division.
MONTGOMERY – Slade McElroy with Keller Williams Realty of Montgomery has been named the 2011 Realtor of the Year.
Montgomery Business Journal September 2011
McElroy, who obtained his real estate license in 2000, received the prestigious honor from the Montgomery Area Association of Realtors. Slade has held numerous leadership positions with the organization and currently is secretary. He is a recent graduate of the 2011 class of Leadership Alabama Association of Realtors. He has served the last two years as a member of the Associate Leadership Council, which accounts for the top 20 percent of producers in the Keller Williams Realty office. McElroy also chairs the firm’s technology committee.
TOUCH OF CLASS LIMOUSINE ADDS LINCOLN HYBRID MONTGOMERY - Touch of Class Limousine and Transport took delivery of its first “Green Sedan.” The new 2011 vehicle is a Lincoln MKZ Hybrid, which gets 40 miles per gallon. The fuel savings will enable Touch of Class to charge the same rates that were set 12 years ago. The hybrid vehicle will provide service to the Atlanta, Birmingham and Montgomery airports. Touch of Class has provided continuous Black Car service to these airports for the past 16 years. The hybrid will join the fleet of Lincoln Town Cars, Mercedes sedans and Chevrolet Suburban SUVs providing airport service 24 hours a day, seven days week. For information, call Touch of Class Limousine and Transport at (334) 284-2673.
Mitch Temple
TEMPLE CONSULTING AND COACHING OPENS OFFICE IN MONTGOMERY MONTGOMERY – Mitch Temple has opened Temple Consulting and Coaching to help individuals, couples and employees. He has an extensive background of 20-plus years in the field of relationships, marriage and family. Temple is a licensed marriage and family therapist, who has written or co-written five books. “Coaching brings a unique approach to helping employees, individuals and families,” Temple said. “Its approach is simple, common sensed with clear next steps to move people to the next level.” Temple does consulting work with companies and offers relationship and communication skills training to improve the performance and productivity of employees. His practice is located in downtown Montgomery in the Winter Loeb building next to The Alley. For information, contact Temple at (334) 593-1136 or e-mail at templecoachinginfo@gmail.com.
P. Carter Burwell
JONES LANG LASALLE OPENS MONTGOMERY OFFICE MONTGOMERY - Jones Lang LaSalle has expanded into the Montgomery market by hiring top producer P. Carter Burwell as vice president. Burwell will provide advisory and transaction services to Jones Lang LaSalle’s clients including executing office, land, industrial, retail and investment sales. Burwell, whose office is at 8650 Minnie Brown Road, will serve markets across South and Central Alabama and Mississippi. “Carter provides vast industry knowledge and local market expertise, which will serve Jones Lang LaSalle well as we expand our presence in Alabama,” said John Fetz, managing director of Jones Lang LaSalle’s Atlanta Tenant Representation group.
BUSINESS BUZZ Burwell brings experience in tenant representation, commercial sales and leasing, development, investment sales and site selection. He joins the firm from Aronov Realty, and is a graduate of the University of Alabama. “I look forward to advancing Jones Lang LaSalle’s reputation for providing the most comprehensive and integrated real estate services,” Burwell said. “This is a great opportunity to grow Jones Lang LaSalle’s brand in Alabama and Mississippi.” Jones Lang LaSalle has more than 90 employees throughout Alabama providing landlord and tenant representation services, retail leasing, integrated facility management, mobile engineering services, land and property sales.
EGG & I RESTAURANT, EDIBLE ARRANGEMENTS COMING TO MONTGOMERY MONTGOMERY – The Egg & I Restaurant and Edible Arrangements will make their debut in the River Region at Zelda Place this fall. The Egg & I Restaurant, which serves breakfast and lunch, is located in the site formerly occupied by Nancy Paterson’s Bistro. This is the second Egg & I Restaurant location in Alabama. It will be open seven days a week. Edible Arrangements is America’s leading purveyor of artistically designed fresh fruit arrangements. The company specializes in creating bouquets filled with fresh, hand sculpted fruit including strawberries, pineapple, grapes, apples, oranges, bananas, cantaloupe and honeydew. Many of the fruits can be hand dipped in gourmet chocolate. Aronov Realty Management developed, leases and manages the 130,882-square-foot Zelda Place, which is anchored by Publix Super Market.
Mugs Mullins
WALKER360 ALLIES WITH ALLIANCE THEATRE
ARONOV REALTY’S MULLINS APPOINTED TO REAL ESTATE LEADERSHIP COUNCIL
MONTGOMERY – Walker360 will handle the creative, media buying and strategic planning for the 2011-2012 season of Atlanta’s nationally acclaimed Alliance Theatre, a division of the Woodruff Arts Center in Atlanta.
MONTGOMERY - Mugs Mullins was recently appointed to the Alabama Center for Real Estate (ACRE) Leadership Council at the University of Alabama. Mullins, a top-producing Realtor with Aronov Realty, is currently serving as treasurer of the Montgomery Area Association of Realtors as well as participating on numerous committees. He also serves on the board of directors for the Alabama Association of Realtors & Greater Montgomery Home Builders Association. Real estate leadership council members focus on long-term growth and development of the center, provide insight and counsel on current market trends, and enhance the sustainability of ACRE through vision, resourcefulness and creativity.
“We’re very excited to be working with such an award-winning and respected icon of the Atlanta cultural scene,” said Taylor Blackwell, president of Walker 360. “We are employing unique, out-of-the-box strategies and tactics to promote this year’s incredible line up of original and touring productions.” Walker360 offers a range of services, from marketing plans, data analytics and strategies, to graphic design and copywriting for media and packaging. Walker360 has offices in Montgomery and Atlanta.•
September 2011 Montgomery Business Journal
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Members on the Move IBERIABANK NAMES SENIOR VICE PRESIDENT MONTGOMERYIberiabank has named Paul K. Walker a Paul Walker senior vice president and commercial banking group manager. Walker joins the company with 18-plus years of banking experience where he most recently served as vice president of commercial banking with Regions Bank, which was formerly AmSouth Bank). In his new role, Walker will lead the commercial and retail operations of Iberiabank throughout the Montgomery region. His office is located at the bank’s Carmichael branch at 4141 Carmichael Road in Montgomery. He can be reached at (334) 395-7912 or by e-mail at paul.walker@iberiabank.com. “Paul is a very talented individual who brings solid credit skills and life-long connectivity to the Montgomery region,” Russ Ford, market president, said in a statement. “Paul is the perfect individual to lead our growth efforts in Montgomery and to deliver on our company’s exceptional VIP service to our clients.” Walker, a native of Montgomery, received a bachelor’s degree in history and psychology from Auburn University. Iberiabank is a 124-year-old subsidiary of Iberiabank Corp., which is headquartered in Lafayette, La. The company has 259 offices, including 170 bank branch offices in Louisiana, Alabama, Arkansas, Tennessee, Texas and Florida. MONTGOMERY CATHOLIC HIRES DIRECTOR OF DEVELOPMENT MONTGOMERY - Montgomery Anna Lee Ingalls Catholic Preparatory School has named Anna Lee Ingalls as the school’s new director of development.
40
Montgomery Business Journal September 2011
Ingalls will oversee all fundraising and advancement activities of the K-12 school. “I believe that she will lead our school’s development program while furthering the mission of Montgomery Catholic,” said Montgomery Catholic President Anne Ceasar. “Anna Lee will be key to helping us tell our story while leading us into the future.” Ingalls joins Montgomery Catholic from the Family Sunshine Center, where she has served as the development director for the past nine years. “It is an exciting opportunity and a great honor to come on board with Montgomery Catholic Preparatory School,” Ingalls said. “I cannot wait to get to work with the Montgomery Catholic team in developing great things for the future.”
UAB HEALTH CENTER MONTGOMERY ANNOUNCES NEW ASSISTANT PROFESSOR MONTGOMERY The UAB Health Center Montgomery announced the appointment of Dr. Lori C. White to assistant professor of medicine. Lori White
White is a graduate of Georgia State University and received her medical degree from Emory University School of Medicine. She completed her residency in internal medicine at the Medical University of South Carolina. White was in the private practice of general internal medicine in Montgomery from 1994 until 2003 and then was a hospitalist at Baptist Medical Center East from 2003 until joining UAB Health Center Montgomery. Her responsibilities as a member of the full-time faculty will include the medical education of residents and students on the in-patient medical services and in the UAB Ambulatory Care Clinic.
INGRAM APPOINTED DEAN OF AUM SCHOOL OF BUSINESS MONTGOMERY- Rhea Ingram has been named dean of the Rhea Ingram Auburn University at Montgomery School of Business, after serving three years as head of the university’s marketing department. She replaced long-time dean Jane Goodson who wanted to return to the classroom before retirement. “I’m thrilled that Dr. Ingram has accepted our offer to become the next dean of the School of Business,” said Provost Jeff Elwell. “She had the support of our talented search committee, department heads in the School of Business and our deans. I think she is the right person to lead the School of Business to greater prominence and add to the excellent reputation that Dean Goodson has been able to foster during the last 10 years.” Ingram came to AUM in 2008 from Columbus State University, where she served as associate professor and Rothschild Endowed Chair of Business Administration and Leadership. She received a bachelor’s degree and a master’s degree in business administration from Troy University in 1991 and 1994, respectively, and a doctorate in business administration from the University of Kentucky in Lexington in 2000. “I am coming behind a leader who has taken the school to new heights,” Ingram said. “We already have a great school and great faculty. I intend to work collaboratively with my colleagues to draft a new vision and a new strategic plan to determine what direction we want to take as we continue the school’s tradition of excellence.” The AUM School of Business is accredited by the Association to Advance Collegiate Schools of Business International – a distinction given to only the top 5 percent of the world’s business schools. The school is also rated a Best Business School by The Princeton Review and a Best Graduate School by the U.S. News Media Group.
BB&T PROMOTES KENNEY TO VP
VT MILTOPE NAMES NEW PRESIDENT/CEO
SERVISFIRST BANK MONTGOMERY ANNOUNCES NEW VICE PRESIDENT
HOPE HULL – Julie A. Briggs has been president and CEO of VT Miltope, replacing Thomas R. Dickinson.
MONTGOMERY ServisFirst Bank Montgomery Diane McLaney promoted Diane McLaney to vice president and private banking officer.
Briggs, who was vice president of rugged systems program development, joined VT Miltope in 2002. She has been a major force behind the growth in rugged computer systems orders, demonstrating a compound annual growth rate of more than 15 percent. She earlier worked for Automated Systems.
McLaney, who was an assistant vice president and private banking officer, has been a banker for 28 years. She has eight years of experience in private banking.
Dickinson, a retired brigadier general, began his career with VT Miltope in 1998 as the chief operating officer. He was promoted to president and CEO in January 1999.
She began her career with Commercial Bank in Andalusia, which was acquired by First Alabama (Regions). She moved to Montgomery in 1991 and transferred to Regions Bank. McLaney has years of experience working in retail, customer service, operations, credit and as an executive assistant.
“The growth at VT Miltope has been an integral part of the success of VT Systems, and we thank Gen. Dickinson for his service with us,” retired Gen. John G. Coburn said in a statement.
MONTGOMERY – BB&T has promoted Chad R. Kenney to vice president. Chad Kenney
Kenney is a business services officer in BB&T’s commercial loans department at Interstate Park Drive. The DeFuniak Springs, Fla., native received his bachelor’s degree in business administration from Evangel University and a master’s degree from Missouri State University. BB&T Corp. is one of the largest financial services holding companies in the U.S. with $159 billion in assets and market capitalization of $18.7 billion. •
“Julie’s achievements in the development of the Hard Wear family of the rugged computers are well noted, and we are confident that these advancements will continue with her at the helm of VT Miltope.”
ServisFirst Bank, which has assets of $1.8 billion-plus, has branches in Montgomery, Birmingham, Huntsville, Dothan and Pensacola, Fla.
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September 2011 Montgomery Business Journal 41 (CONTINUED ON PAGE 42)
RIBBON CUTTINGS & GROUND BREAKINGS
HERE WE GROW AGAIN
42
Alpha & Omega Processing P.O. Box 640011, Pike Road, AL 334-315-3235 Victoria Gulsby-Merchant Consultant Credit Cards/Services
AllFit Gym 3705 Eastern Boulevard Montgomery, AL 36116 334-356-1626 www.allfitgym.com David Little-President/CEO Fitness Center/Gym
Holiday Inn Express 4273 Troy Highway, Montgomery, AL 36116 334-288-8844 www.hiexpress.com/montgomery Lorna Wright-General Manager Hotels/Motels
Euphoria Salon & Bodyworks 3735 Governors Drive Montgomery, AL 36111 334-593-6554 Frankie Jefferon-Owner Beauty Salons/Spas Barber
MidTown Pizza Kitchen 2940 I Zelda Road, Montgomery, AL 36106 334-395-0080 www.midtownpizzakitchen.com Patrick Skelton, Ben Skelley & Will Meachan Owners Restaurants-Pizza
Trenholm State Technical College Pedestrian Bridge 3086 Mobile Highway Montgomery, AL 36108 334-420-4200 www.trenholmstate.edu Mr. Sam Munnerlyn-President Colleges & Universities
Scott Realtime Reporting, LLC 600 South Court Street, Suite 435 Montgomery, AL 34104 334-323-9471 www.scottrealtime.com Tasha M. Scott-President Legal Services-Court Reporting Translators& Interpreters
State Farm, Nicholas Wade-Agent 2531 Bell Road Montgomery, AL 36117 334-272-4745 www.picknicksf.com Nicholas Wade-Agent Insurance Companies/Services
Foy Dental Care 2564 Berryhill Road Montgomery, AL 36117 334-279-1050 www.foydentalcare.com Dr. Ben Foy-Dentist Dentist
Prudential, Rick Williams Financial Professional 1781 Taliaferro Trail, Montgomery, AL 36117 334-396-7573 www.prudential.com/us/r.a.williams Rick Williams-Financial Professional Financial Planner/Advisor
Pitts & Zanaty, LLC 4400 Carmichael Road Montgomery, AL 36106 334-244-0181 www.rdpitts.com Mr. R. D. Pitts-Partner Mr. Timothy Zanaty-Partner Legal Services-Attoneys
Boardwalk Fresh Burgers & Fries 6941 EastChase Loop Montgomery, AL 36117 334-356-6355 www.boardwalkfreshburgersandfries.com Mr. Frank Limas-Owner Restaurants
Montgomery Business Journal September 2011
New Members Architects
Counseling
Party Services
Barganier Davis Sims Architects Associated James I. Barganier 624 McDonough Street Montgomery, AL 36104-5812 334-834-2038
Temple Consulting-Life Coaching/Marriage Therapy Mitch Temple 105 Tallapoosa Street Montgomery, AL 36104 334-593-1136
Rolling Video Games of Alabama Herbert Nelson 7172 Wynlakes Boulevard Montgomery, AL 36117 855-844-4263
Dentists
Printers/ Copy Centers
Arby’s William Delano 2796 Eastern Boulevard Montgomery, AL 36117 334-270-3352
Craftmaster Printers, Inc. Danielle Ritch 687 North Dean Road Auburn, AL 36830 334-502-3456
Arby’s Zanetta Roberson 6931 Eastchase Loop Montgomery, AL 36117 334-272-1125
Publications
Sporting Goods/ Equipment
McKee and Associates Walter T. McKee P.O. Box 2108 Montgomery, AL 36102 334-834-9933
Associations/ Non-Profit Envision 2020 Lynn T. Beshear 600 South Court Street, Suite 311 Montgomery, AL 36104 334-269-0224
Automobile Parts & Services Bell’s Transmission Services Eddie Bell 808 Lagoon Commercial Boulevard Montgomery, AL 36117 334-272-8575
Banks Aliant Bank Judi Chumley Eastmont Branch 5400 Atlanta Highway Montgomery, AL 36109 334-270-3050
Beauty Salons/Spas Martin Durden & Company Martin Durden 2551 Bell Road Montgomery, AL 36117 334-272-0000
Community Services/Agencies The Arc of Alabama, Inc. Thomas B. Holmes 557 South Lawrence Street Montgomery, AL 36104-4611 334-262-7688
Foy Dental Care Ben Foy 2564 Berry Hill Road Montgomery, AL 36117 334-279-1050
Employment Services Career Education Services Company Hope Rodriguez 1264 Perry Hill Road Montgomery, AL 36109 334-213-2320
Graphic Designers/ Desktop Publishing Carter Photography & Design Bryan Carter 7821 Copperfield Drive Montgomery, AL 36117 334-462-8535
Hotels/Motels Holiday Inn Airport South Chris Calabretta 96 Folmar Parkway Montgomery, AL 36105 334-288-3858
Insurance Companies/Services Colonial Life Deb Shull 7515 Halcyon Summit Drive, Suite 101 Montgomery, AL 36117 334-472-9457
Masonry Terry For Bricks Terry Jackson 2509 East 3rd Street Montgomery, AL 36107 334-264-2224
ALABAMA Magazine Bishop Chavers 1740 Oxmoor Road, Suite 210 Birmingham, AL 35209 205-870-8177
Real EstateCommercial/ Investments
Arby’s Curtis Gates 5759 Atlanta Highway Montgomery, AL 36117 334-277-6379
Montgomery Multisport Hardy Sellers 8107 Vaughn Road Montgomery, AL 36116 334-356-7271
Trash/Garbage Service
Jones Lang LaSalle Carter Burwell 8650 Minnie Brown Road Suite 231 Montgomery, AL 36117 334-215-4527
Waste Management of Alabama-South John Carmichael 2810 Day Street Montgomery, AL 36108 334-265-8542
Restaurants
Utilities
Arby’s Ray Bly 1700 East Main Street Prattville, AL 36066 334-361-9244
The Southeast Alabama Gas District Mitch Thorn PO Box 1338 Andalusia, AL 36420 334-222-4177
Arby’s Allen Newton 971 West South Boulevard Montgomery, AL 36116 334-288-2729 Arby’s Betty Dailey 3853 Atlanta Highway Montgomery, AL 36109 334-279-9286
Video Production Broadview Media Rich Michaelson 201 South Union Street, Suite 140 Montgomery, AL 36104 334-223-5708
Arby’s Ratri Moss 2719 Zelda Road Montgomery, AL 36106 334-279-1124
September 2011 Montgomery Business Journal
43
Economic Intel Montgomery Metro Market Home Sales JUNE 2011
MAY 2011
Month/Month % Change
JUNE 2010
Year/Year % Change
Statewide JUNE 2011
Median Price
$134,950
$120,900
11.62%
$130,000
3.81%
$125,755
Average Price
$161,106
$140,102
14.99%
$148,453
8.52%
$147,546
Units Listed
3,157
3,249
-2.83%
3,364
-6.15%
38,384
Months of Supply
11.1
13.4
-17.16%
8.9
24.72%
10.2
Total # Sales
285
242
17.77%
376
-24.20%
3,766
Days on Market
93
92
1.09%
82
13.41%
165
Source: Alabama Center for Real Estate (ACRE), The University of Alabama
Sales Tax Collections JULY 2011
JULY 2010
Year over Year % Change
YTD 2011
YTD 2010
Year over Year % Change
Montgomery County
$3,270,406
$3,121,260
4.78%
$22,855,442
$22,369,875
2.17%
City of Montgomery
$7,588,135
$7,326,388
3.57%
$52,710,711
$51,342,627
2.66%
Pike Road
$147,253
$149,411
-1.44%
$915,488
$1,108,608
-17.42%
Autauga County
$609,623
$609,966
-0.06%
$4,174,472
$4,209,362
-0.83%
$1,677,961
$1,313,426
27.75%
$9,390,295
$8,540,305
9.95%
Prattville Elmore County
$470,086
$767,393
-38.74%
$2,596,328
$5,199,798
-50.07%
Wetumpka
$489,652
$447,957
9.31%
$3,209,257
$2,867,116
11.93%
Millbrook
$497,780
$466,170
6.78%
$2,355,324
$3,214,460
-26.73%
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 2010 thru current month. * Did not receive this monthâ&#x20AC;&#x2122;s numbers.
Montgomery Regional Airport JULY 2011 Air Carrier Operations
Year over Year % Change
YTD 2011
YTD 2010
Year over Year % Change
940
1,098
-14.4%
6,811
7,247
-6.0%
4,505
5,981
-24.7%
37,080
41,476
-10.6%
Enplanements
16,420
17,784
-7.7%
105,374
107,455
-1.9%
Deplanements
16,493
17,875
-7.7%
104,460
107,988
-3.3%
Total Passengers
32,913
35,659
-7.7%
209,834
215,443
-2.6%
Total Operations
Source: Montgomery Regional Airport (MGM) Dannelly Field
44
JULY 2010
Montgomery Business Journal September 2011
Airline Fares
Hyundai Sales
Roundtrip airfare comparisons from Montgomery, Birmingham and Atlanta airports to key destinations. Destination
Montgomery
Birmingham
VEHICLE
YTD 2010
30,956
31,038
20,884
17,836
135,898
107,085
15,181
18,215
118,482
75,779
8,119
7,047
42,940
51,423
144
218
1,239
1,799
3,479
3,698
27,106
23,387
997
823
5,162
4,177
3,517
2,309
18,971
15,200
Atlanta
Sonata
Baltimore (BWI)
$384
$298
$222
Boston (BOS)
$341
$312
$308
Santa Fe
Charlotte, NC (CLT)
$177
$177
$228
Azera
Chicago (ORD)
$356
$256
$272
Tucson
Cincinnati (CVG)
$330
$268
$282
Veracruz
Dallas/Ft Worth (DFW)
$285
$276
$274
Genesis
Denver (DEN)
$390
$324
$198
Equus Total
Detroit (DTW)
$417
$296
$272
Houston (HOU)
$358
$258
$322
Indianapolis (IND)
$384
$372
$242
Las Vegas (LAS)
$444
$428
$346
Los Angeles (LAX)
$369
$320
$266
Memphis (MEM)
$436
$358
$248
Miami (MIA)
$322
$270
$165
Nashville (BNA)
$234
$134
$352
New Orleans (MSY)
$270
$170
$208
New York (JFK)
$372
$332
$280
Orlando (MCO)
$346
$246
$232 $228
Philadelphia (PHL)
$400
$248
Pittsburgh (PIT)
$373
$332
$242
St Louis (STL)
$238
$168
$246
Seoul, Korea (SEL)
YTD 2011
3,960
6,938
Elantra
Seattle (SEA)
JULY 2011
Accent
$458
$387
$373
$1,358
$1,218
$1,246
Tampa (TPA)
$350
$252
$252
Washington DC (DCA)
$385
$308
$274
JULY 2010
302
N/A
1,694
N/A
59,561
54,106
382,358
309,888
Source: Hyundai Motor America
Date of travel: Sept. 13-18, 2011. Date of pricing: Aug. 14, 2011. Source: travelocity.com
Unemployment Data Civilian Labor Force Area
Unemployment Rate
June p 2011
May r 2011
June r 2010
June p 2011
May r 2011
June r 2010
Montgomery MA
171,729
169,664
169,172
10.50%
9.40%
9.00%
Autauga County
24,743
24,472
24,234
9.70%
8.60%
7.60%
Prattville City
16,047
15,881
15,726
8.20%
7.20%
6.20%
Elmore County
36,628
36,160
36,052
9.80%
8.60%
8.20%
4,740
4,747
4,709
16.10%
16.10%
15.40%
105,617
104,286
104,177
10.70%
9.50%
9.30%
95,513
94,264
94,147
10.60%
9.40%
9.20%
531,061
522,029
517,127
9.80%
8.80%
9.30%
Lowndes County Montgomery County Montgomery City Birmingham-Hoover MA Birmingham City Huntsville MA Huntsville City
98,825
96,671
95,872
12.30%
10.90%
11.50%
214,024
211,507
207,372
8.90%
7.90%
7.50%
94,299
92,976
91,370
9.10%
7.90%
7.70%
Mobile MA
193,229
190,576
187,748
11.80%
10.60%
10.00%
Mobile City
90,063
88,655
87,370
12.20%
10.90%
10.30%
Alabama United States
2,185,690
2,155,322
2,135,467
10.50%
9.40%
9.60%
154,538,000
153,449,000
154,767,000
9.30%
8.70%
9.60%
MA=Metropolitan Area. pPreliminary rRevisedEstimates prepared by the Alabama Department of Industrial Relations in Cooperation with the Bureau of Labor Statistics, based on 2010 benchmark.
September 2011 Montgomery Business Journal
45
Quarterly Reports QUARTERLY REVENUES
NET INCOME
EARNINGS PER SHARE
EARNINGS ESTIMATE
YEAR-AGO REVENUES
YEAR-AGO NET INCOME
$3B
$135M
$0.37
$0.37
$2.8B
$119M
Profit rose 13%
$2.8B
$316M
$0.65
$0.61
$2.6B
$286M
Opened 99 restaurants in China to top 4,000
Wells Fargo
$20.9B
$3.9B
$0.70
$0.69
$21.4B
$3.1B
Profit surged 29%
CSX Corp.
$3B
$506M
$0.46
$0.44
$2.7B
$414M
Revenue up double digits for nearly all car loads
BB&T
$2.1B
$307M
$0.44
$0.43
$2.4B
$210M
Profit jumped 46%
McDonald’s
$6.9B
$1.4B
$1.35
$1.28
$6B
$1.2B
Same-restaurant sales up 6.9% in U.S.
$4.5B
$603.3M
$0.71
$0.64
$4.2B
$510.2M
Profit increased 18%
Buffalo Wild Wings
$184.1M
$10.7M
$0.58
$0.60
$145.7M
$9.2M
Revenue jumped 26%
Panera Bread
$451.1M
$35.7M
$1.18
$1.17
$378.1M
$26.7M
Profit rose 34%
Regions Financial
$1.7B
$55M
$0.04
(-$0.01)
$1.6B
(-$335M)
Provision for loan losses fell from $651M to $398M
Office Depot
$2.7B
(-$29.3M)
(-$0.11)
(-$0.12)
$2.7B
(-$25.2M)
International business sales up 6% to $827M
Domino’s Pizza
$384.9M
$25.2M
$0.40
$0.26
$362.4M
$22.6M
Revenue at overseas restaurants open at least 1 year up 7.4%
Aaron’s Inc.
$482.7M
$10.8M
$0.13
$0.40
$445M
$24.4M
Lawsuit-related charge of $36.5M
Texas Roadhouse
$279.6M
$16.1M
$0.22
$0.23
$255.2M
$15M
Starbucks
$2.9B
$279.1M
$0.36
$0.34
$2.6B
$207.9M
International Paper
$6.7B
$224M
$0.52
$0.67
$6.1B
$93M
Industrial packaging revenue climbed $77M to $269M
O’Reilly Automotive
$1.5B
$134M
$0.96
$0.96
$1.4B
$100M
Repurchased 3.3M shares of stock
Charter Communications
$1.8B
(-$107M)
(-$0.98)
N/A
$1.8B
(-$81M)
Loss increased due to higher borrowing costs
$330.4M
$63.3M
$0.87
N/A
$333.7M
$66.5M
8% increase in oil and gas production
CVS Caremark
$26.7B
$816M
$0.65
$0.64
$24B
$821M
Revenue rose 10.9%
Sally Beauty Holdings
$837M
$69.1M
$0.37
$0.28
$743M
$41.1M
Profit surged 68%
$431.5M
(-$800,000)
(-$0.02)
$0.01
$436M
$2.7M
Sales decline 1%
$4.2B
$303M
$1.09
$1.05
$4.1B
$260M
Will launch exclusive clothes lines from Jennifer Lopez and Marc Anthony
$717.5M
$41.9M
$0.49
$0.46
$743.1M
$63.6M
Profit declined 34%
$622M
$11.3M
$0.03
$0.05
$607.4M
$10.7M
Will debut new cheeseburger line in October
$193.3M
(-$1.8M)
(-$0.09)
(-$0.05)
$190.9M
(-$2.5M)
General and administrative costs fell from $10.2M to $7.6M
Advance Auto Parts
$1.5B
$113.1M
$1.46
$1.38
$1.4B
$100.9M
Added 130 stores in 2011
JC Penney
$3.9B
$14M
$0.07
$0.10
$3.9B
$14M
Second-quarter profit flat
Dillard’s
$1.5B
$17.6M
$0.32
N/A
$1.4B
$6.8M
Sold interest in mall venture
$215.8M
$6.9M
$0.44
N/A
$201.3M
$4.3M
Profit soars 60%
NAME
Marriott International Yum Brands (KFC, Pizza Hut, Taco Bell)
Southern Co. (Alabama Power)
Energen (Alagasco)
hhgregg Kohl’s Brinker International (Chili’s) Wendy’s O’Charley’s
Red Robin
46
Montgomery Business Journal September 2011
NOTABLE
Revenue increased 10% Overseas revenue up more than 25% to $218.4M
September 2011 Montgomery Business Journal
47
Post Office Box 79 Montgomery, AL 36101
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