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Contents 6 Calendar
12
16
8
Guest Commentary by Steve Goldsby
10
Guest Commentary by Chuck DiLaura
12
Eighth-graders learn about advanced manufacturing at Camp iMade it
14
Investor profile: Baptist Health named one of the country’s top health care organizations
16
Top executives sound off at the Chamber’s CEO Roundtable discussions
20
The downtown retail incubator program pays off for Ciao Bella Boutique
24
Young entrepreneurs Bob Parker and Richard Younger are making their mark in the restaurant business
30
Member profile: Stone Martin Builders has built a winning formula
32
Business Buzz
40
Members on the Move
42
New Members
43
Ribbon Cuttings & Ground Breakings
44
Economic Intel
30
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20 April 2012 Montgomery Business Journal
3
THE NUMBER ONE BUSINESS SOURCE FOR MONTGOMERY AND THE RIVER REGION PUBLISHER
Randall L. George Executive Editor
Tina McManama Managing Editor
David Zaslawsky Editorial assistanT
LaShanda Gaines Design
Copperwing Design Photographer
Robert Fouts On the cover:
Bob Parker (left) and Richard Younger are young entrepreneurs with several local businesses including Dreamland and The Deli at Alley Station. Advertising:
Linda Drumheller 334-240-9494 mbjsales@montgomerychamber.com
Montgomery Business Journal c/o Montgomery Area Chamber of Commerce Post Office Box 79 41 Commerce Street Montgomery, Alabama 36101 Telephone: 334-834-5200 Fax: 334-265-4745 Email: mbj@montgomerychamber.com www.montgomerychamber.com/mbj The Montgomery Business Journal (USPS NO. 025553) is published monthly except for the combined issues of June/July/August and November/December, by the Montgomery Area Chamber of Commerce, 41 Commerce Street, Montgomery AL 36104, (334) 834-5200, www.montgomerychamber.com. Subscription rate is $30 annually. Periodicals Postage Paid at Montgomery Alabama, 36119+9998, USPS NO. 025553. Volume 4, Issue 4. 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.
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Montgomery Business Journal April 2012
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Calendar Montgomery Area Chamber of Commerce Events
APRIL PLANNING SEMINAR 4 4BUSINESS PM @ Small Business Resource Center
MAY PLANNING SEMINAR 7 BUSINESS 4 PM @ Small Business Resource Center
9
9
60 MINUTE COFFEE Sponsored by Alabama Artificial Limb & Orthopedic Service 8 AM @ Montgomery Area Visitor Center 300 Water Street, Montgomery Free event, exclusively for Chamber Members
21
BUSINESS PLANNING SEMINAR 4 PM @ Small Business Resource Center 600 South Court Street, Montgomery $10 at the door, Registration not required
31
BUSINESS AFTER HOURS Sponsored by AlleyBAR 5 PM @ AlleyBAR 166 Commerce Street, Montgomery Free event, exclusively for Chamber Members
600 South Court Street, Montgomery $10 at the door, Registration not required
11
CHAMBER OPEN Presenting Sponsor: Jim Wilson & Associates @ Wynlakes Golf & Country Club Morning Flight: 8 AM Afternoon Flight: 1 PM Registration: montgomerychamber.com/open
60 MINUTE COFFEE Sponsored by Capitol Hill Healthcare & Rehab First 8 AM @ Capitol Hill Healthcare & Rehab First 520 Hull Street, Montgomery Free event, exclusively for Chamber Members SMALL BUSINESS LOAN CLINIC Noon @ Small Business Resource Center 600 South Court Street, Montgomery, Free event
16
BUSINESS PLANNING SEMINAR 4 PM @ Small Business Resource Center 600 South Court Street, Montgomery $10 at the door, Registration not required
24
BUSINESS AFTER HOURS Sponsored by Marquirette’s Exquisite Jewelry 5 PM @ Marquirette’s Exquisite Jewelry 7818 Vaughn Road, Montgomery Free event, exclusively for Chamber Members
26
BUSINESS TAXATION WORKSHOP Two Sessions: 3 PM & 6 PM @ Small Business Resource Center 600 South Court Street, Montgomery Free event, open to the public MINORITY BUSINESS PARTNERSHIP MIXER 5 PM @ Union Station, 300 Water Street, Montgomery Registration: www.montgomerychamber.com/mixer
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Montgomery Business Journal April 2012
600 South Court Street, Montgomery $10 at the door, Registration not required
Convention Calendar compiled by the Montgomery Area Chamber of Commerce Convention & Visitor Bureau
April 4/9-4/13
Alabama Rural Electric Association Annual Meeting
4/14-4/23
Alabama Pre K Conference
4/21-4/25
Alabama Association of Student Council Spring Conference
4/23-4/26
Association of State and Territorial Solid Waste Mid-Year Meeting
MAY 5/20-5/24
Montgomery IT Summit
5/31-6/3
Disabled American Veterans Summer Meeting
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Guest Commentary
Aligning Business and Government Will Spark Job Growth
by Steve Goldsby
same is true of the relationship between business and government – both must be working toward the same objective or the result is wasted effort and no forward movement. One might argue that today in this country the horses are all pulling in different directions. I offer the following suggestions to spark job creation:
1 Steve Goldsby is CEO of Integrated Computer Solutions.
In the midst of campaign season, the headline issue is job creation. Developing a strategy to spark job creation is no simple feat because there are so many factors that affect business’ ability to create jobs: supply, demand, investor and consumer sentiment, tax structure, regulatory environment, quality of available work force and so on. Couple that with the challenge faced with coordinating government and business so all parties are working toward the same goal, and you have an even bigger challenge. So, how do we spark job creation and build momentum? One word: Alignment. Consider a team of horses pulling a chariot: If all the horses do not pull together in the same direction toward the same objective, no forward movement is made. The
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Montgomery Business Journal April 2012
Invest in science, technology, engineering and math education (STEM). Other than China, the U.S. has arguably grown faster than any other nation in the world over the past 10 years, yet we are creating far fewer jobs. According to the Organization for Economic Co-operation and Development, U.S. productivity growth doubled from 2008 to 2009, and then doubled again in 2010. Without corresponding demand-side growth, work force shrinks. In order to reverse this trend, we must invest in STEM so that our next-generation work force can compete globally and invent the technologies and products that increase productivity so we can export those creations to the rest of the world rather than vice versa.
2
Simplify the federal and state tax codes. As a business owner, I can tell you firsthand that this nation’s tax code is too burdensome and costly to maintain and is adversely impacting the ability of the U.S. business to compete globally. According to the Laffer Center, the total negative economic impact of our tax code is upwards of $430 billion per year, including tax preparation, IRS administrative costs, and the hours businesses and individuals spend
complying with the tax code and audits. My own tax return for 2010 was over 500 pages, and we are a firm of less than 80 employees.
3
Streamline the regulatory environment. The Small Business Administration Office of Advocacy (a government entity) prepared a report in 2005 that demonstrated the cost of federal regulations totals $1.1 trillion per year, a cost disproportionately apportioned to small businesses. Surely we can do better.
4
Incentivize on-shoring. Over the past 30 years the U.S. has experienced a massive shift to offshoring manufacturing activities to countries with lower labor costs. Today, however, we are learning that offshoring is not always the best answer for all products, especially those sold here in the U.S. Labor costs as a share of product cost is shrinking; factory wages in many developing countries is rising; and with rising fuel costs, the expense of shipping product back to the U.S. is rising quickly. Coupled with America’s recent improvements in just-in-time inventory and supply chain management, sophisticated modeling and management and logistics systems, and the case for on-shoring is stronger than ever. “Made in America” is beginning to regain the premium status it had decades ago. We must attract and retain businesses in this country by providing incentives for businesses to bring manufacturing and services businesses back home.
5
Train entrepreneurs. This country was built by entrepreneurs who, with basic skills and a strong work ethic, advanced manufacturing and other technologies to make America the world’s largest economic power in
less than 150 years. Over the past half century as technology has advanced, regulatory costs have increased, and the cost and complexity of starting a business has exploded, it has become more difficult and costly for entrepreneurs to build the next “better mousetrap.” While one might argue that entrepreneurship education has matured at the university level, we are missing the opportunity to begin entrepreneurial education at the high-school and skilled-trade level.
6
Promote a bottom-up approach to innovation and work force development. Businesses are in a far better position than the government to know where the next big technological breakthrough or opportunity to innovate lies. And yet we continue to adopt a “topdown” approach to driving investment in work force development and innovation, with the government determining where to fund “the next big thing.” The businesses that are serving markets today are in the best position to determine where the market is moving and where the next great opportunities lie. We must change
our investment model to a “bottom up,” business-driven approach to innovation and work force development. Government should provide tax credits in a manner that allows businesses to determine where to invest in the development of their work force and innovation rather than dictating what “next big thing” industry should chase.
7
Shrink corporate tax rates. Corporate income taxes reduce the profitability of investments. That is, higher taxes drives investors to look elsewhere when determining where to place their investment dollars, while constraining business growth. We must address tax competition with other countries. The U.S. is second only to Japan in terms of the corporate tax rate and one of the big drivers of offshoring over the past 30 years has been our burdensome corporate tax structure. Even the International Monetary Fund acknowledges that a reduction in the corporate income tax rate attracts foreign direct investment.
8
Foster business/government collaboration. This is where your Montgomery Area Chamber of
Commerce directly addresses the alignment challenge. The Chamber is our voice in governmental affairs, both locally and on a national level, addressing each of the items I’ve outlined here. The Chamber also helps its member businesses grow and prosper. By supporting our Chamber of Commerce, you are investing in a professional team that amplifies your voice at all levels in the community and government. Our Chamber also keeps you informed on macroeconomic trends so you can position your business appropriately, and connect you with like-minded business people in the region to increase your influence with local, state and federal representatives. To spark job creation in today’s challenging economic and political climate there are no easy solutions, but there is a simple solution: aligning government and business objectives so we’re all working towards the same objective, which ultimately benefits everyone. • Steve Goldsby is CEO of Integrated Computer Solutions.
April 2012 Montgomery Business Journal
9
Guest Commentary
Buying Local and Education are Tickets to Job Creation by Chuck DiLaura
tax (sales taxes) that drained an additional 15 percent away from purchasing power. Needless to say, as the taxes went up, the revenue went down; people simply left the economy and collected unemployment. I learned this first-hand when we called a plumber for some work. His estimate was $450 by credit card or check, but $250 if we paid in cash. A few years later Canada lowered taxes and revenues went up. I would like to address ideas that people can implement simply and effectively to improve the job situation here in Alabama. Chuck DiLaura is president of Neptune Technology Group Inc.
There is a lot of discussion and debate these days about jobs and how we can create more of them. There are regulations and reporting requirements that negatively impact most businesses; however, it is difficult to quantify how negatively from one business to the next. Burdensome regulations like Sarbanes-Oxley add significant costs to running a business and penalize everyone for the sins of a few. Taxes are also a job killer, but not an easy fix. I can relate a story from 20 years ago when I moved from Montgomery to Ontario, Canada. The marginal tax rate was over 55 percent and Canada had a PST and GST
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Montgomery Business Journal April 2012
My first thought is buy local. Every time you put your hand in your pocket, ask yourself who made this item? Buy products from local artisans and fruits and vegetables grown from local farmers. Support local service providers, restaurants, plumbers, carpenters, etc. This past Christmas our company sponsored a party for all employees. We held the event at a local hotel, the food was provided by the hotel and we danced to a local DJ. We gave away several thousand dollars worth of gift certificates as door prizes. Every gift was from a local business: certificates for car repairs, haircuts and local restaurants. Support your local businesses at every opportunity. Education is very important for a healthy economy and job creation. Our state and all the local economic development offices are working hard to help companies already
in Alabama grow as well as to recruit new businesses to Alabama. We need an educated pool of people to support these companies, attract new businesses and provide the skilled labor force to get the job done. Not everyone needs a college degree, but a solid high school education and a trade or specialized skill will meet the needs of many jobs. Most companies will train employees, but they are looking for people who have the basic skills of reading, writing, math and problem solving. Having at least completed high school builds confidence and shows responsibility and dedication to seeing things through â&#x20AC;&#x201C; all important traits for employment. Not all highly educated people are mechanically inclined and mechanically inclined people donâ&#x20AC;&#x2122;t have to be highly educated. The drop-out rates are very sobering. I think we place too much emphasis on going to college when a good trade or technical background is all that many jobs require. One important area for job growth is in manufacturing. Mechanically skilled people are a good fit for these jobs. Being trainable, showing up on time and providing a solid dayâ&#x20AC;&#x2122;s work are traits that businesses are looking for. Helping small businesses and entrepreneurs start and grow their enterprises is another key to jobs growth. This involves banks making funds available and, as I mentioned above, supporting these local people and businesses with our spending. Excessive regulations, reporting, taxes
and medical costs are the headwinds for small business. You might be a creative person or an entrepreneur, but when it comes to running a business in today’s environment, you had better be good at paperwork. Whatever wage you pay one of your employees, the real costs are actually 30 percent to 40 percent above that amount due to benefits and reporting. This is a serious problem that’s only getting worse. Alabama has been very successful in recruiting and growing several strategic industries. Auto and aerospace come to mind. These industries have an excellent multiple impact on economic activity. I read that one job in an auto manufacturing factory resulted in 15 other jobs. This would include jobs created by Tier 1, 2, and 3 suppliers to the auto factory. Their employees have a positive ripple effect on jobs at department stores, restaurants, dry cleaners, gas stations, movie theaters, pharmacies.
I run a manufacturing company here in Tallassee, Alabama. We supply water meters and automated meter reading systems to water and gas utilities throughout North America. The company began in 1892 in Long Island City, N.Y., but moved here in 1972. We currently employ over 500 people in Alabama and over 700 people throughout North America. We try our best to use local suppliers or at least American suppliers and to be the supplier of choice to water and gas utilities in Alabama. It is always disappointing when a water or gas utility decides to purchase their metering systems from a company that is not American owned or American made. Energy is important in Alabama and throughout the entire country. We need to be more energy independent. This will create thousands of jobs drilling, refining or moving
energy through pipelines. Independence will also keep costs lower and reduce the amount of dollars we send overseas. Money used to purchase foreign oil increases our imports, which puts pressure on our trade imbalance. Once the money leaves our economy, it is gone. We must reduce our imports and increase our exports – at least to a balance. In summary, we need less regulation, reporting and taxes. Support local businesses and service providers. Increase exports and reduce imports. Stay in school, go back to school and learn a trade or technical skill. Education is often the ticket to successful job creation and retention. • Chuck DiLaura is president of Neptune Technology Group Inc.
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Wells Fargo is the #1 SBA 7(a) lender by dollars according to the U.S. Small Business Administration as of September 30, 2011. Based on data from U.S. Small Business Administration, for federal fi scal year 2011. All credit decisions subject to approval. © 2012 Wells Fargo Bank, N.A. All rights reserved. Member FDIC. (710413_04424) 1
2
April 2012 Montgomery Business Journal
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Chamber News
Eighth-graders from Montgomery Public Schools learn about the Advanced Manufacturing Career Academy.
camp
iMade it Futures are made at Advanced Manufacturing Career Academy by David Zaslawsky
When eighth-graders from 11 schools descended on the STERIS Corp. booth at Camp iMade it they learned that the company manufactures a wide variety of medical supplies and equipment. Ken Thomas is the company’s director of human resources and he said that a high school graduate coming out of the Montgomery Public Schools’ Advanced Manufacturing Career Academy could make between $15 and $17 an hour as a machinist. Yes, just out of high school.
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Montgomery Business Journal April 2012
“If we can keep these young people interested; keep them in school and teach them how to weld, machine, fabricate and do electrical work – they are going to be OSHA-certified when they come out (of high school),” Thomas said. “They can go right into the work force with marketable skills. They can go for further training in the technical schools or go to college for engineering degrees if they want.”
That quote of $15 to $17 an hour to start as a machinist can go all the way to $23 or $24 an hour, according to Thomas. Meanwhile, Hyundai Motor Manufacturing Alabama (HMMA) Director of Production Craig Stapley said he began his career in automotive manufacturing on the assembly line and worked his way through the ranks. “It’s a great career,” he told about 175 eighth-graders attending the inaugural Camp iMade it, which introduced students to advanced manufacturing jobs and careers. They also had an opportunity to
“This is really your opportunity to look into manufacturing as a job or career,” said Ed Castile, executive director of the Alabama Industrial Development Training (AIDT) program, which was one of two sites for Camp iMade it. The students also visited booths on the H. Councill Trenholm State Technical College campus. “You have to make some decisions about whether or not you want to get some training or education to do these kinds of jobs,” Castile said. “These are great careers and they are the kinds of jobs that pay well. What you want to think about is the Advanced Manufacturing Career Academy.” question experts in those fields, including officials from STERIS, Alabama Power Co., HMMA, SABIC and J.R. Smith Manufacturing Co. The students also had an opportunity to sign up for the Advanced Manufacturing Career Academy, which is conducted at George Washington Carver High School. It is one of seven Career Academies that are a Montgomery Area Chamber of Commerce initiative and partnership with the Montgomery Public Schools district. Camps for eighth-graders have been held for the Teaching Career Academy (Camp EDU); Information Technology Career Academy (Camp IT); Health Science Career Academy (Camp Bones); Hospitality/ Tourism Career Academy (Camp At Your Service); and Business/Finance Career Academy (Camp Ca$h Flow). The Law/ Public Safety Career Academy camp – Law/Public Safety Field Days – was scheduled for April 13 and April 27. Students who enroll in the Advanced Manufacturing Career Academy, which they begin in ninth grade, will learn about electricity, robotics, hydraulics, fabrication and welding as well as a general study of manufacturing systems and equipment. A brochure for the district’s Career Academies states salary ranges of $34,070 to $81,200 for careers in advanced manufacturing.
Before embarking on their adventure to learn about local manufacturers, the eighth-graders were asked if they liked to buy things. The answer was a resounding yes. They were also asked if they liked money and they yelled yes. Then speaker after speaker told the youths about good-paying manufacturing jobs, but reminding the students that now was the time to start preparing for their future. Montgomery County Commission Chairman Elton N. Dean, Sr encouraged students to participate and ask questions. “You are our future in Montgomery County,” he said. Sam Munnerlyn, president of Trenholm State, told the camp participants “to absorb everything you can. Find out what lies in your future.” He talked about some programs at Trenholm including automotive manufacturing, which has two-dozen-plus courses, and welding and machine tool technology. Trenholm featured its automotive manufacturing program in Camp iMade it, including robotics, while AIDT also had stations, including machine shop. Auburn University at Montgomery had a booth, promoting its information systems program, which is in the School of Business.
Camp iMade it: A partnership of Montgomery Public Schools and the Montgomery Area Chamber of Commerce Sponsors of the Camp
HMMA Sabic STERIS Jay R. Smith Manufacturing Co. Alabama Power Auburn University Montgomery Jenkins Brick Company PHA Body Systems Giles Foodservice Equipment Hager Companies TCU Consulting Services AIDT H. Councill Trenholm State Technical College
In addition to those companies with booths at Camp iMade it, others sponsored the event, including Hager Companies, Jenkins Brick & Tile Co., Giles Food Service Equipment and PHA Body Systems. •
April 2012 Montgomery Business Journal
13
Investor Profile BUSINESS BUZZ (CONTINUED FROM PAGE 63)
Russell Tyner is president and CEO of Baptist Health.
Never Standing Still Baptist Health multi-million dollar investments lead to top 15 national ranking by David Zaslawsky
photography by Robert Fouts
Baptist Health implemented a strategy three or four years ago of investing millions of dollars a year to improve clinical quality and the patient experience during the worst economic downturn since the Great Depression.
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Montgomery Business Journal April 2012
Baptist Health Number of employees Some might say that investing about $750,000 a year in the Institute for Patient Safety and Medical Simulation was ill-advised and didn’t make sense during a recession or slow recovery. The organization was spending multi-millions of dollars on training and technical approaches to improve. “It was an organizational focus on the blocking and tackling elements of delivering health care,” said Russell Tyner, president and CEO of Baptist Health, which is one of the largest private employers in the River Region with 3,600-plus employees. “You really have to focus on the basics and make sure you have those right. If you do the fundamentals correctly then the right things tend to follow. That requires training; it requires focus. It’s a team approach and that’s part of the training – getting physicians on board with the clinical staff and making sure they work in concert.” The grades have finally come in and Baptist Health is now ranked among the top 15 health care organizations in the country, according to Thomson Reuters. Talk about validation. “We’ve known for a long time that we are pretty good,” Tyner said. “We’ve also known for a long time there is room for improvement and we will continue to improve. This was a good indicator of the progress and the appropriateness of that plan and direction of trying to get as clinically proficient and as technically capable as we could organizationally and individually.”
3,637 Number of affiliated physicians
464 Facilities
Baptist Medical Center South 514 beds Baptist Medical Center East 150 beds Prattville Baptist Hospital 85 beds Montgomery Surgical Center Four imaging centers Number of patients treated in 2011
358,374 Number of outpatient visits in 2011
293,288 Emergency department visits in 2011
125,324 Number of babies delivered in 2011
4,333
Baptist Health, which operates three hospitals in the River Region – Baptist Medical Center South, Baptist Medical Center East and Prattville Baptist Hospital – received the Top 15 ranking for its entire system. More than 300 health care systems with two or more hospitals were reviewed by Thomson Reuters.
Number of inpatient/ outpatient surgeries in 2011
“That’s a pretty good comparison,” Tyner said. “If you can stand up in that group then you can stand out anywhere. It was a good opportunity to measure ourselves against the best in our business and found that we measured pretty well.”
11,174
Health care systems were measured in a variety of categories including saving lives, patient satisfaction, patient safety, closely following industry-recommended standards of care and releasing patients a half day sooner.
18,245 Number of surgeries at Montgomery Surgical Center in 2011
Total number of surgeries in 2011
29,419
“We are only getting started,” Tyner said. “The improvement rate for us was a stark improvement, but we think we can maintain that trajectory and continue to improve significantly. We believe that we can not only hold that ranking, but continue to improve.” For one thing, being one of the Top 15 ranked hospitals in the country and the first in its category of smaller health care systems – will help with recruiting top-quality medical professionals. Tyner said the ranking will get Baptist Health that all-important first look. “It’s always been true that if we can get people to look at Montgomery we’ve been successful in getting them here and successful in getting them to stay.” The rating will also likely have an impact on the number of patients choosing Baptist Health. “People trust us with their most-prized possession – their body – or the body of a loved one,” Tyner said, “and they don’t know us. It’s a great leap of faith. It’s a huge amount of confidence. “We have great people doing great work, who are committed to understanding that you are trusting us with your most-prized possession. We want you to be comfortable with who we are and what we are doing, but this (top 15 ranking) is a different level of comfort.” “The technical and clinical things that are done are consistent with the medical community and are among the best in the country. It doesn’t get any better than that. We know the caliber of what we do and there is evidence to support it now.” On the company’s website it states that Baptist Health is “using all of our knowledge, skills and most advanced technology available to improve health care for Central Alabama.” Tyner said that means as an organization Baptist Health is “never standing still. It’s always a journey – there is no destination. Whether it’s always implementing the newest and best technology or it’s making a commitment to recruit people who are the youngest, the best and the brightest and integrating them into the organization … It’s not always easy, but we made the commitment to say we are going to continue to get better. We will continue to look at different technology. We have a commitment to do those things that we do and do well or don’t do them at all.” What’s the bottom line? Why is Baptist Health so successful? “There is an uncommon collection of brilliant, dedicated people here,” Tyner said. •
April 2012 Montgomery Business Journal
15
Chamber News
Sounding Off The bosses speak their minds at CEO Roundtable discussions by David Zaslawsky
Angela Swarts has been a Spherion licensee owner for 16 years and yet each time she has attended a CEO Roundtable discussion she learns something new. She has been participating in the Montgomery Area Chamber of Commerce’s CEO Roundtable discussions for about one year. “I always take away at least one thing from each meeting – a different idea or a suggestion or even a different viewpoint,” she said during a telephone interview in Augusta, Georgia. “You get to share experiences and best practices.” You also get to share concerns and challenges with your counterparts and it really does get lonely at the top. “Typically, the CEO or lead decisionmaker does not have a peer within the company that they can bounce ideas off of; discuss sensitive matters; look at things strategically,” said Lisa McGinty, director of Small Business programs for the Montgomery Area Chamber of Commerce.
“That’s the intent of the CEO Roundtable – to have somebody who is in a comparable position in a different company and to have a group of them. They can almost be an informal advisory board or peer mentoring to help you sound off ideas.” Scott McNelley, president of Admiral Movers and Admiral Records Management, has been a company president since 1989, overseeing 25 employees and up to 35 in the summer. “Being the head of a company sometimes can be a fairly lonely job,” McNelley said. “Not all the decisions you’re going to make will be popular. You’re managing people and sometimes against their own wishes, but you are trying to look out for everybody; trying to look out for the company; and at times especially in the economy that we’ve been presented with the last four or five years – more often than not you’re having to make tough decisions.” “You’re watching people go through tough times. It can be lonely and it’s good to have time when you can sit down with other people that are going through your experiences.”
Swarts, who has 13 employees at her recruiting and staffing services firm, said, “Sometimes you are just alone at the top. I just can’t sit down and have a chat with all my employees about some of the challenges we are having. They don’t need to be involved in that.” “To have somebody else to share those experiences in an environment where people are going to help you – offer advice; give you feedback and help you get channeled in the right direction.” The Chamber offers twice-monthly CEO Roundtables at the Small Business Resource Center on the first Tuesday and first Wednesday of the month at 11:30 a.m. Those CEO Roundtable discussions deal with real issues. The roundtable discussions are facilitated by world-renowned Pete Land, a CEO of his company and leadership trainer. McGinty said that she would like to add a roundtable discussion for new CEOs. “There are very different challenges for somebody who is a brand new business owner as opposed to somebody who is a seasoned businessperson.” She has been asked to form a roundtable group for top women executives in conjunction with the Women In Business Forum, a Chamber initiative. “The most frequent thing that people are responding to is how meaningful (CEO Roundtables) are to them and
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Montgomery Business Journal April 2012
that these are not superficial discussions,” McGinty said. “It is not networking. They are able to connect with people who have experiences that they don’t have and learn ways of dealing with some of these strategic decisions. They are walking away with something they can actually use.” McGinty said that a second monthly CEO Roundtable was added last year because there was so much interest. She said about eight to 10 high-level executives attend one of the two monthly discussions. Some of those participants may be a business owner or senior partner or chief operating officer. The companies represented by the senior decision-makers are quite diverse: staffing, information technology, logistics, printing, document storage, non-profits, banking, real estate, catering, lumber, therapeutic equipment, accounting and historic restoration. With the exception of the IT companies, executives from competing firms do not participate in the same roundtable for obvious reasons, but there are some common issues.
McGinty said some of the shared concerns are “branding yourself and your business both internally here in the South, but especially externally to non-Southern markets.”
Scott McNelley, president of Admiral Movers and Admiral Records management.
Other areas of concern are human resources issues such as workers’ compensation and motivating and retaining employees during difficult economic conditions. McGinty said that because of the economy and layoffs, the remaining employees have often been asked to do more with less and that becomes a serious employee retention issue for senior executives. “They struggle with how do you keep employees when their tasks have increased,
Angela Swarts, Spherion Licensee.
Continued on page 18
April 2012 Montgomery Business Journal
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incentivizing compensation after roundtable participants examined commission-type structures that others were using. “The good thing is it allows you to accelerate the learning curve,” McNelley said. “Instead of having to go out there and learn lessons from scratch – even if you’ve been in a business a long time and done a lot of things – you can still make plenty of mistakes.” “If you’re talking about the roundtables from a value-added standpoint … the quality of our decisions and the quality of our management of data is improved greatly and the amount of time it takes to get that quality decision is very accelerated. I think that is a huge, huge deal.”
Top company executives discuss issues at a Montgomery Area Chamber of Commerce CEO Roundtable.
Continued from page 17
but you have no more money to give them?” McGinty said. “How do you keep employees motivated while assuming more responsibility? It’s more of a strategic HR (issue) than just a reassignment of duties.” McNelley, who calls himself a newbie for attending CEO roundtable discussions for less than one year, said that he instituted
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Montgomery Business Journal April 2012
“You have your mentors; your legal counsel; accountants; people that you tend to work with for advice. I think the (CEO Roundtables) reminds you that it’s important to get your ideas out there and have someone beat it back – give you a different perspective and make sure you don’t blow too many of your toes off on your way to making some decisions.” •
334-613-5000
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â&#x20AC;&#x2122;til Shop youDROP Cassandra Crosby McCullough is one of three partners in Ciao Bella Boutique.
Ciao Bella Boutique is a smash hit in downtown Montgomery by David Zaslawsky photography by Robert Fouts
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Montgomery Business Journal April 2012
You always hear the line about real estate that the most important factor is location, location, location. What if you owned an upscale boutique across from the two largest hotels in downtown Montgomery and a long stone’s throw from a third hotel? Talk about your perfect location – the corner of Commerce and Tallapoosa streets – and that’s the site for the second Ciao Bella Boutique. To say the least, Cassandra Crosby McCullough, one of three Ciao Bella partners, is ecstatic about the boutique’s location and tremendous success. She said that sales at the new location have been phenomenal. The location opened in December in time for the Christmas season and sales have hardly slowed down since, even in the historically slow retail month of January. Crosby McCullough also credits the substantial sales increase to being new and there is no competition for an upscale boutique, which carries a wide assortment of one-of-a-kind Glenda Gies handbags. Ciao Bella is the largest vendor for Pennsylvania-based Glenda Gies and is the
only one in the region. Crosby McCullough said she will work with her clients to customize a handbag by selecting color and fabric and assisting with a design. “The handbags are conversation pieces,” Crosby McCullough said. In addition to the handbags, Ciao Bello carries jewelry, dresses, shawls, men’s ties, picture frames and baskets. Ciao Bella has had a store on Mulberry Street since November 2010 and that site will become more of a home store, according to Crosby McCullough, who will be active in the redevelopment of the Mulberry boutique district. That perfect downtown location will become even better if that’s possible as Ciao Bella gets a new neighbor with the theme of Arts Gone Wild. Three of the city’s most popular attractions – Montgomery Zoo, Alabama Shakespeare Festival and the Montgomery Museum of Fine Arts – will have a presence in the retail unit next to Ciao Bella. On the other side of Ciao Bella is a kiosk for tickets to the riverboat Harriott II,
Montgomery Performing Arts Centre and Davis Theatre for the Performing Arts. It’s all about foot traffic and Crosby McCullough could not be any more excited being located across from the 342-room Renaissance Montgomery Hotel & Spa at the Convention Center, which is the city’s largest hotel. Her boutique also sits across from the 237-room Embassy Suites Montgomery Hotel and Conference Center – the city’s second-largest hotel. Ciao Bella is a very, very short walk from the 86-room Hampton Inn & Suites. “It’s prime property,” Crosby McCullough said about being so close to 650-plus hotel rooms and not surprisingly, travelers have made up the bulk of her customers so far. A recent survey conducted by Gibbs Planning Group concluded that downtown Montgomery has a demand for 309,000 square feet of retail and the study concluded that 1.3 million people annually attend downtown events from sports to entertainment to conferences and conventions. There are 39,000 daytime workers within five minutes of downtown. Continued on page 22
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Continued from page 21
That all adds up to a lot of potential shoppers for Ciao Bella in a 600-square-foot unit, which is part of a City of Montgomery and Montgomery Area Chamber of Commerce partnership. The monthly rent for Ciao Bella is $950, including utilities, for a maximum of two years. Crosby McCullough hopes to eventually find a permanent home at The Alley.
Ciao Bella Boutique is operating at a temporary retail building in the heart of downtown Montgomery on the corner of Commerce and Tallapoosa streets.
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“These are incubators and they are designed to get businesses started that otherwise may not start,” said Chad Emerson, development director for the City of Montgomery. “We are serious when we say they are designed as temporary buildings, but we also understand that development and demand evolves and sometimes in ways that aren’t expected. There is nothing that prohibits (units) from staying there a little bit longer if the market demands it.”
Crosby McCullough said that she had wanted to have a downtown location and “an opportunity presented itself” with the City-Chamber partnership. “This store caters to travelers and I think my merchandise fits in well with the downtown location. I want to stay downtown for as long as I possibly can. As long as there is a desire and need, I want to be downtown.” The store hours are currently 11 a.m.-6 p.m. Monday-Saturday and 1 p.m.-4 p.m. Sunday. Those hours will be extended in the summer to 11 a.m.-7 p.m. MondaySaturday and noon-5 p.m. Sunday. Crosby McCullough, who is a partner in the government consultant firm Crosby Drinkard Group, said she began her retail career because of two passions: shopping and people. “I love to shop and I love people and wanting to please people,” she said. “It’s such a crazy feeling when you see a lady come into the boutique and she sees a purse that she loves and buys. She’s just so happy.” •
Top attractions join forces for Arts Gone Wild by David Zaslawsky A casual conversation between an Alabama Shakespeare Festival executive and a City of Montgomery official was the genesis for Arts Gone Wild. Arts Gone Wild, a partnership of the City, Montgomery Area Chamber of Commerce and ASF is a temporary retail unit shared by three of the regionâ&#x20AC;&#x2122;s top attractions: ASF, Montgomery Zoo and the Montgomery Museum of Fine Arts. Visitors to the downtown Montgomery site at the corner of Tallapoosa and Commerce streets will be able to buy souvenirs from those three attractions as well as purchase tickets. More than 400,000 people visited those three attractions last year with 215,000-plus going to the zoo; Another 110,000 visited the museum and 80,000-plus attended ASF performances.
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â&#x20AC;&#x153;Those are great assets for the city and they donâ&#x20AC;&#x2122;t have a downtown presence. Out-of-town guests may not be aware that they are here,â&#x20AC;? Emerson said. The retail unit is expected to open in April or May. â&#x20AC;&#x153;This is the only Arts Gone Wild in the world,â&#x20AC;? Emerson said. â&#x20AC;&#x153;If you want to go to this unique partnership between these three fantastic entities thereâ&#x20AC;&#x2122;s only one place to do it and thatâ&#x20AC;&#x2122;s downtown Montgomery.â&#x20AC;?
Meg Lewis, director of marketing and communications for ASF, wanted to raise the awareness of ASF, the zoo and museum and
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Chad Emerson
she talked to Chad Emerson, director of development for the City of Montgomery. Now all of those out-of-town visitors staying at downtown hotels will drive past the retail unit featuring three of the cityâ&#x20AC;&#x2122;s top attractions.
He said the unitâ&#x20AC;&#x2122;s interior is being designed by the same people who build sets for ASF.
â&#x20AC;&#x153;Each of the entities will have a dedicated area, but they will also seamlessly flow together,â&#x20AC;? Emerson said. â&#x20AC;&#x153;It will be a very immersive-type setting.â&#x20AC;? He said details are still being finalized, but it is possible to have an occasion special event at the unit with possibly ASF actors or even an animal from the zoo. The retail unit is located next to Ciao Bella Boutique. â&#x20AC;&#x153;Our goal is to create life in that corner and we hope that it will be successful and demonstrate to other business owners and developers that there is demand for retail downtown and they will go develop spaces for retail and we can foster other areas,â&#x20AC;? Emerson said. He said the downtown retail incubator concept could expand at the corner of Tallapoosa and Commerce streets or temporary units could end up on cityowned surface parking lots near Riverwalk Stadium or city-owned property on Maxwell Boulevard. â&#x20AC;˘
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April 2012 Montgomery Business Journal
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Bob Parker
Dreamland Richard
Younger
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Montgomery Business Journal April 2012
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It’s not every day that two female running buddies would ultimately be the catalyst for their husbands becoming successful business partners. Now, throw in the mix how one husband coached one of the other’s sons in basketball. Add some mutual friends and that is how young entrepreneurs Bob Parker and Richard Younger became friends. About five years ago, Parker came to Younger with the idea of opening a Dreamland Bar-B-Que in downtown Montgomery. Parker was not only asking a trusted friend for his opinion, but a certified public accountant who worked in the Aldridge Borden & Co. firm and was an expert in business planning. “I helped him put some numbers together to see if it (Dreamland) made sense,” Younger recalled. “After we met a couple of times, I became really, really interested about being involved in the project.” Younger said that Parker needed someone to put together an ownership group and handle that aspect. “It’s been a good partnership. I can’t do what Bob does and he can’t do what I do,” Younger. That was back when Parker was all of 33 and Younger was 32. That same magical formula keeps working. First, Dreamland opened at The Alley in April 2009. In February 2011, the two opened The Deli at Alley Station.
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Here comes their third collaboration – Rail Yard Brewing Co. at the site of the former Brew Pub and next door to Southern Trails. Rail Yard Brewing Co., which is tentatively scheduled to open in June and employ 30 to 40 people – about the same amount as Dreamland – is a “better burger” joint. It is part of a national trend of more upscale burger restaurants that use top-quality meat, ingredients and toppings. “Everything is made-to-order,” Younger said.
Parker said that the meats may or may not be organic or locally sourced. “It’s called the better burger segment and the whole drive is to make it a better burger. We’re not fast food. We’re full service – not fast, casual. You’ll sit down and we’ll wait on you.” He said a burger at lunch would probably be in the $8 to $10 range and a bit more for dinner. The restaurant will seat 150, including outside tables. The site will also brew beer. The two partners are not planning to stop there. They said they have plans for additional Dreamlands in Pensacola, Florida, and Columbus, Georgia. There are other plans to expand the business without opening up restaurants. Parker and Younger have formed a management company called Montgomery Restaurant Partners. “All of our employees at both of these restaurants (Dreamland and The Deli) are actually employees of Montgomery Restaurant Partners, which gives me the opportunity and flexibility to easily move people from restaurant to restaurant,” Younger said. “There is no profit motive associated with this company today. That is not the case for tomorrow as we do additional ventures and we talk to other people about running their (business). We have the infrastructure with the restaurant management company and that is something we are growing as well. The infrastructure is in place from restaurant managers to servers.” That was the progression of one employee at The Deli. She began her career there as a server. She then worked in catering and eventually became the catering manager. She was promoted to store manager and now is the general manager – all within a three-year span. She now oversees a staff of between 12 and 15 people. Continued on page 26
by David Zaslawsky photography by Robert Fouts
April 2012 Montgomery Business Journal
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With his accounting background, Younger is the money guy. “I make sure our vendors get paid; our employees get paid; and we’re making money,” said Younger, who recently left Aldridge Borden to open his own firm called Montgomery CPA Associates. One of the reasons he left Aldridge Borden was the flexibility to focus on his restaurant ventures. Parker is the day-to-day operations expert. “I run the management of the store – anything that you can imagine with operating a restaurant,” he said.
Bob Parker (left) and Richard Younger opened The Deli at Alley Station early last year.
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Montgomery Business Journal April 2012
Continued FROM PAGE 25
That’s the goal of the management company – develop managers. “We’re bringing some additional talent into the organization in order to grow our restaurant management company, which positively impacts Dreamland, The Deli, Brew Pub and anything else we do – future Dreamland locations,” Younger said. “Growing the talent pool of the management company is very deliberate and very important.”
Why have Parker and Younger become such successful entrepreneurs? It’s so much more than meshing different areas of expertise. Timing and geography were critical: The two began discussions about Dreamland before the Renaissance Montgomery Hotel & Spa at the Convention Center was built. But it had been announced. They knew about The Alley concept. They knew about the Entertainment District. Continued ON PAGE 28
Restaurant owner’s debt-free recipe for success by David Zaslawsky As a restaurant owner and a certified public accountant with expertise in business valuations Richard Younger has a golden rule when it comes to starting a business. Younger, who opened his own accounting firm – Montgomery CPA Associates – tells would-be entrepreneurs: “Make sure you have plenty of capital and don’t borrow any of that money.” “If you finance a business with borrowed money, it eliminates your ability to make mistakes and that’s why businesses fail. They are undercapitalized and leveraged with debt.” Younger is a partner with Bob Parker and they own Dreamland Bar-B-Que, The Deli at Alley Station and anticipate a June opening of Rail Yard Brewing Co., all in downtown Montgomery.
“We don’t have a penny of debt in this restaurant,” Younger said, during an interview at Dreamland. “We don’t have a penny of debt at The Deli and we’re not going to have a penny of debt with the next venture. We don’t believe in opening a business with debt.” The model they use is bringing in equity money partners to eliminate any debt. Parker and Younger said they’ve been tossing around one or two concepts. “All of our stuff will be in the hospitality/ event services,” Parker said. “We’re not stepping outside of that.” When asked about opening a restaurant on the newly renovated Maxwell Boulevard, Younger said, “We will consider any opportunity as it comes and if it’s a good idea we’ll give it legs and if it’s not then we won’t.”
Younger said that the opportunities for young entrepreneurs are limitless. “I’ve been an entrepreneur my whole life and Bob has been, too. For me, it’s all about working hard; being aggressive; not afraid to take risks if it is calculated risks; and taking advantage of opportunities when they present themselves.” “This store (Dreamland) was the right concept at the right time with the right business partner, who had the right relationships. That’s why it worked – none of it was by accident. It was timing and execution of a plan – our plan with what was going on in the city,” he said about downtown redevelopment. •
April 2012 Montgomery Business Journal
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Continued FROM PAGE 26
“It was very important to us to do (Dreamland) in this site,” Younger said, referring to The Alley. “We were going to do it in this building or we weren’t going to do it at all – simple as that. We wanted to be the first restaurant to open down here in The Alley because we believed in what was going on down here.” Dreamland also had to open on the Montgomery Biscuits’ home opener, according to Parker. Having nearly 7,000 people walk by your new business is certainly priceless advertising. Parker and Younger were approached about retail space at The Alley and said they thought it would be a great location for a deli. Then they became involved. Parker said that he is tinkering with the deli menu and “making most of our ingredients from scratch, which takes more people and more time,” he said. They are also recycling almost everything except for meats. The Deli recycles cardboard and plastic and turns most of the non-meat items into compost. There are some recycling plans for Dreamland.
After being the first kid on the block, Parker and Younger have welcomed every new tenant because each new restaurant has attracted more people downtown and that in turn translates into more business for Dreamland and The Deli and soon Rail Yard Brewing Co., which is just a couple of blocks from the Renaissance and what Parker and Younger call the heart of downtown Montgomery. They now welcome the newest restaurant at The Alley – Central. “Central is not going to hurt us,” Parker said. “We’re glad Central is here. We want Central to be here.” Parker said that his business is event-driven unlike Central, which will attract couples who leave their children at home. “What that does is bring more activity downtown and people like to be around activity.” Younger said that other restaurants have not impacted his sales. He said January 2012 sales at Dreamland were up 15 percent from the same period a year earlier.
walk to lunch. There are the thousands of people stationed or working at Maxwell Air Force Base and Gunter Annex. Then there are conventions at the Renaissance or concerts at the Montgomery Performing Arts Center. Of course, when it’s baseball season that helps with sales, but “it’s not what drives our turnout,” Parker said. Parker said that the goal is to “create really interesting places for people to go – hang out and eat. I don’t consider us a place you come to and stuff your face with food and leave. We want it to be more experiential than just eat and leave.” What keeps Parker and Younger going? Parker: “For me, it’s just keep doing this until it doesn’t make sense anymore.” Younger: “Until we’re not having fun and making money and hopefully neither one of those ever happens.” •
What drives sales at Dreamland and The Deli are the tens of thousands of downtown workers, who before had few options to
Alabama Training Institute Y Customized training and education based on specific needs
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Center for Business & Economic Development Y Human resource solutions designed to improve performance management
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The six divisions within Auburn Montgomery’s Outreach help companies, public agencies and individuals expand their professional knowledge and prepare for the challenges of the future. Find out how Auburn Montgomery Outreach resources can benefit your organization.
Center for Government & Public Affairs Y Research assistance to determine areas of improvement for processes and service
Division of Continuing Education Y Personal and professional development workshops and classes
Call us at 334-244-3956 or visit us on the web at www.outreach.aum.edu 28
Montgomery Business Journal April 2012
YOU CANâ&#x20AC;&#x2122;T MAKE MUCH DIFFERENCE
FROM THE SIDELINE Our earliest students came to TROY to learn how to lead others. Today, our degree programs continue to attract those looking for careers shaping a life of purpose... such as business. "RETT 7ILSON Group Publisher, Parade Magazine Troy University Alumnus
If it is in your nature to contribute to the greater community, youâ&#x20AC;&#x2122;ll find a culture here that knows how to nurture that spirit. Troy University is not for everybody... it is for those who want to become somebody.
Educate the mind to think, the heart to feel, the body to act. - TROY Motto 1887
â&#x20AC;&#x153;One of the Best in the Southeastâ&#x20AC;? - Princeton Review â&#x20AC;&#x153;Ranked Among Top Schools in the Nationâ&#x20AC;? - Forbes Magazine
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April 2012 Montgomery Business Journal
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Member Profile
Mitchell Martin and Bryan Stone are co-owners of Stone Martin Builders.
Constructing a Winning Formula Stone Martin Builders is dedicated to energy efficiency by Jennifer Kornegay
photography by Robert Fouts
As practically everyone in the country is learning how to do more with less in the wake of recession and in the middle of sluggish recovery, Mitchell Martin, co-owner of Stone Martin Builders with Bryan Stone, explained how his business has done the same.
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Montgomery Business Journal April 2012
Stone Martin Builders Founded
2005 “We started seven years ago, just a bit before the downturn began,” Martin said. “Lots of people wonder how we’ve made it, but really, it has worked to our advantage. Since we were new, we weren’t set in our ways. We learned quickly how to build lean and build efficiently and to give customers more bang for their buck. We figured out that we don’t need some of the things to run a business that we thought we did before. There is a science to building and building right. A lot of it is about logistics.” So far, Stone Martin seems to have this science down. Now headquartered in Montgomery, the company currently has projects going all over Central Alabama, including in Prattville and Auburn as well as Montgomery and Pike Road. The company has done a few developments from the ground up in Prattville, but most often, Stone Martin is recruited by community developers to come in and be the exclusive builder. “We build about 300 homes a year, and 95 percent of those are presold as opposed to spec houses,” Martin said. “In Montgomery, none of our projects are spec.” This philosophy has not just benefited Stone Martin. According to Martin, it benefits its customers as well. The high volume allows the builders to pass significant savings along to its customers. “A 4,000-square-foot-home is priced at about $250,000 or approximately $70 a square foot,” Martin said. And that’s not for a bare-bones shell that’s then embellished with endless upgrades. “In every house, we do granite countertops, tank-less hot water heaters, all-tile showers, stainless appliances, custom cabinets, 2x6 walls, custom-made windows, four-sided brick, heavy moldings, chair rails, wainscoting, a 10-year foundation and structural warranty on top of our warranty. All this is standard; it’s not extra.” But the savings extend beyond the purchase price of a Stone Martin home thanks to the company’s dedication to energy efficiency. It even influences the homes’ designs. “Most of our work is craftsman style, but many of the styles are driven by energy efficiency factors,” Martin said. All Stone Martin homes have spray-foam insulation, which translates into homeowner savings of 40-60 percent on their power bills. The 2x6 wall construction provides a stronger structure, but it also creates a bigger stud cavity that allows for more insulation. Despite its superior insulating qualities, due to its higher cost other builders don’t always use spray foam insulation. Stone Martin found a way to work around that. “We own our own insulation company, and that’s how we can do the spray foam and things still be affordable,” Martin said.
Montgomery-area developments
Breckenridge, Gray Ridge, Providence and Bon Terre Honors and recognition
Stone Martin is the only builder in the River Region to meet the Department of Energy’s Builder’s Challenge energy efficiency standards. Employees
55 Website
www.stonemartinbuilders.com To ensure that these features are having the desired effect, Stone Martin has energy efficiency raters come in and test each house. “We measure air loss in the home, and if we find any weak points, we fix them.” Stone Martin is leading the way in the area. “Our houses surpass the Energy Star rating; we are actually the only builder in the River Region to meet the Department of Energy’s Builder’s Challenge energy efficiency standards.” On a 0-100 scale with 0 being the best, Stone Martin homes typically score in the 50s and 60s. “Most spec homes score close to 100,” Martin said. The real proof is in the power bill, something Stone Martin is more than happy to show off in its “green room” on the second floor of the model home in the Providence neighborhood in Pike Road. For one 4,000-square-foot house, the monthly total was $98. Sometimes the savings are almost too much; the list prices of Stone Martin’s homes have proven to be a hurdle in some respects, as Martin explained. “We’re realized that some people see our prices and think the houses must be low quality,” he said. “Showing people that just because we have low prices, doesn’t mean we don’t have really high quality has been kind of tough. We’re just running our business right, and we pass the savings along because we’re very focused on growing our business.” As that growth comes, Martin pointed out a challenge going forward. “In the future, as we expand, we’ll have to work hard to maintain the quality and principles we’ve based the business on and make sure we hire people who believe what we believe and can help us build homes the right way.” •
Other energy-efficient features found in every Stone Martin home include insulated roof decks in the attics and tank-less water heaters. “We also have HVAC guys on staff, and that means the units are sized specifically for the home, and they’re much smaller because the homes are so well insulated. And all homes come with humidistats built into the thermostats.”
April 2012 Montgomery Business Journal
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Member News
Business Buzz “This represents an opportunity for customers to be part of one of the nation’s strongest banking institutions with service from the same familiar faces,” said Scott Stafford, retail market executive for PNC in Alabama.
Scott Stafford
PNC BANK OFFICIALLY TAKES OVER RBC BRANCHES BIRMINGHAM – More than 400 RBC Bank branches across the U.S., including 78 in Alabama, are now PNC Bank branches. PNC’s products and services are designed to make banking easy and convenient, and include PNC Virtual Wallet, an online interactive money management solution; PNC points, available with select accounts to reward everyday purchases; free online banking and bill pay; plus credit cards, loans and credit lines. With RBC Bank, PNC expands to more than 2,900 branches in 19 states plus the District of Columbia with access to 7,100 ATMs nationwide.
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rating were Honda Civic, Chevy Sonic, Volkswagen Passat, Cadillac (CTS and SRX), Saab 9-4X, Chrysler 300, Chevrolet Camaro, Dodge Charger, Kia Sportage (all-wheel drive), Toyota Camry and Volvo S60.
The final conversion from RBC Bank to PNC Bank took place in early March. Stafford said the conversion was the largest in PNC Bank’s 160-year history. ELANTRA RECEIVES FIVE-STAR COMPOSITE SAFETY RATING The 2012 Elantra received a five-star composite safety score from the National Highway Traffic Safety Administration. The Elantra and the Sonata are produced at Hyundai Motor Manufacturing Alabama’s plant in Montgomery. The crash-test composite score included a new side pole test, which is a side impact crash. The overall rating also uses frontal, barrier and rollover tests. The agency will test 74 vehicles. Other 2012 vehicles receiving a five-star composite safety
Montgomery Business Journal April 2012
Anne Ceasar
MONTGOMERY CATHOLIC’S CEASAR NAMED OUTSTANDING ADMINISTRATOR MONTGOMERY – Montgomery Catholic Preparatory School President Anne Ceasar was recently named as the Alabama Association of Foreign Language Teachers (AAFLT) Outstanding Administrator for 2012. The AAFLT is a state-wide umbrella organization for the Alabama chapters of the American Association
of Teachers of French, the American Association of Teachers of German, the American Association of Teachers of Italian, the American Association of Teachers of Spanish and Portuguese and the National Association of SelfInstructional Programs, as well as for the following local language groups: the Alabama Classical Association, the Alabama Association of Foreign Languages in Elementary Schools and the Alabama Association of Bilingual/ English as a Second Language. Their purpose is providing united action in promoting effective teaching, study and appreciation of foreign languages and cultures in Alabama through an annual conference and other activities. AAFLT advocates the advancement of the study of languages, their literatures and cultures at all levels of instruction. The AAFLT board of directors selects one administrator each year for their Annual Outstanding Administrator Award winner. (Continued on page 34)
April 2012 Montgomery Business Journal
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BUSINESS BUZZ (CONTINUED FROM PAGE 32) Montgomery location at Zelda Place shopping center. The 2,725-square-foot restaurant is located between Starbucks and Ted The Wine Guy on Zelda Road.
Bonita Heartsill
HEARTSILL PAYROLL OFFERS READYFUND$ MASTERCARD PAYROLL CARD MONTGOMERY â&#x20AC;&#x201C; Heartsill Payroll is now offering the ReadyFUND$ Premier Access MasterCard payroll card to its payroll clients. â&#x20AC;&#x153;We evaluated several different payroll card programs and selected ReadyFUND$ due to their technology platform and the many unique features of the ReadyFUND$ program and the value it brings to our clients,â&#x20AC;? said Heartsill Payroll President Bonita Heartsill. The ReadyFUND$ technology platform supports the ReadyFUND$ Premier Access Instant Issue MasterCard Payroll Card and the eZsuite of Financial Services that provides businesses the ability to convert all of their employees to direct deposit. The ReadyFUND$ Premier Access MasterCard Payroll Card is available as an instant issue card or personalized card and is accepted at millions of locations throughout the world, wherever MasterCard Prepaid Debit Cards are accepted. FIVE GUYS BURGERS & FRIES COMING TO ZELDA PLACE MONTGOMERY â&#x20AC;&#x201C; Aronov Realty Management announced that Five Guys Burgers and Fries will open their second
34
Montgomery Business Journal April 2012
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The shopping center is developed, managed and leased by Aronov Realty Management Inc., the largest privately owned real estate company in the Southeast, with more than 100 properties. Zelda Place has about 130,000 square feet of retail. â&#x20AC;&#x153;Five Guys Burgers and Fries is a very popular concept and has garnered accolades for its freshness and food quality as well as its upbeat atmosphere,â&#x20AC;? said Beau Young, leasing representative for Aronov. â&#x20AC;&#x153;Five Guys will complement our excellent mix of retail and restaurants and gives shoppers yet another great reason to visit Zelda Place.â&#x20AC;? Five Guys Burgers and Fries, which specializes in burgers, hot dogs, sandwiches and fries, features a trans-fatfree menu and uses coolers instead of freezers. The company uses only fresh ground beef and peanut oil. â&#x20AC;&#x153;Neal Starling, owner of the new Five Guys Burgers and Fries location, recognized the increased activity in midtown Montgomery and sees great opportunity from the area with its proximity to great neighborhoods, quality shopping and easy access to the work forces of downtown, nearby office parks and Maxwell and Gunter Air Force Base,â&#x20AC;? Young said.
BUSINESS BUZZ HYUNDAI RECEIVES A+ IN TWO CATEGORIES SANTA MONICA, Calif. – Hyundai received a pair of A plusses in TrueCar.com’s grades for manufacturers and brands. The Korean automaker, which has a manufacturing facility in Montgomery that produces the Sonata and Elantra, was the only manufacturer to receive an A+. Porsche and Honda tied for second place and each received an A. Hyundai, Kia and Scion all received an A+ in the brand category. The automakers were graded in eight categories including market share, customer loyalty, incentives, sales, pricing and days in inventory.
volunteers will have frequent interaction with the public and must be friendly, courteous and have a positive attitude. “The wheelchair brigade will be a very rewarding experience for anyone looking to be active and work directly with patients and their families,” said Linda Dean, volunteer director at Jackson Hospital. “Our volunteers give so much back to Jackson. They are truly invaluable.” Volunteers must be at least 19 years old and are asked to work four hours a week. They must complete an application and pass a background check and health screening. For information about volunteering for the brigade, call Dean at (334) 293-8967.
Alex Carriles Linda Dean
JACKSON HOSPITAL SEEKS VOLUNTEERS FOR ‘WHEELCHAIR BRIGADE’ MONTGOMERY – Jackson Hospital’s volunteer program is currently seeking volunteers to participate in a “wheelchair brigade,” a new program that will help transport patients. The volunteer wheelchair brigade will help transport patients within the hospital and to their vehicles upon discharge. The position is physical and includes a great deal of walking and standing over a four-hour period. These
BBVA COMPASS LAUNCHES NEW IPHONE APP BIRMINGHAM – BBVA Compass has launched version 2.0 of the bank’s native application for the iPhone. The free app’s enhancements allow users to pay bills as well as view check images, transaction receipts, account charts and payments. It also allows users not previously using online banking to enroll in mobile banking directly from the app. “We’re using technology to create banking solutions that are simple and convenient,” (Continued on page 36)
April 2012 Montgomery Business Journal
35
BUSINESS BUZZ (CONTINUED FROM PAGE 35) said Alex Carriles, executive vice president and director of mobile and online strategies at BBVA Compass. “The new app gives users a fast and easy way to manage their BBVA Compass accounts in a visually enhanced setting. It’s unlike any other mobile banking app on the market.” BBVA Compass designed the new iPhone app to reflect customer feedback and incorporate more innovative technology. The app has a graphical design as opposed to older text-only apps, allowing for a more interactive experience. In addition to making payments, users can view balances and payments in chart form. “Mobile banking is growing and evolving at a rapid pace,” Carriles said. “Because this new app is based on exclusive in-house development, we will be able to add more features, more frequently.” To download the free BBVA Compass iPhone mobile banking app, visit the Apple App Store and search for BBVA Compass, or text the word iphone to 4BBVA (42282). For information on additional BBVA Compass mobile banking applications, visit www. bbvacompass.com/go/mobile. COTTON STATES JOINS COUNTRY FINANCIAL GROUP MONTGOMERY – Cotton States Insurance is adding a new chapter to its 71-year history. Cotton States has started serving local clients in Alabama, Georgia and Tennessee under the Country Financial brand. Cotton States became part of the Country Financial group of companies in 2005. Since then, Cotton States has fully integrated its business model,
36
systems and distribution programs with Country. Signs at local offices are changing to reflect the re-branding effort. “Our brand is changing, but we are still here for our clients,” said Jeff Koerner, chief operating officer for Cotton States. We’re going to make sure they continue to receive the same solid, local customer service they’ve known since Cotton States began in 1941.” Country Financial, founded in 1925, shares a similar history with Cotton States. Both companies began with their roots in agriculture and continue to serve farmers. Country Financial serves about 1 million households and businesses throughout the United States.
be a part of,” said Bess Oswalt, sales and customer service manager for OCG, who accepted the award on behalf of company president Scott McGlon. OCG is a leading e-commerce retailer of custom cushions and other niche home décor and outdoor living products and has experienced strong growth since its founding in 2004.
C. Gibson Vance
BEASLEY ALLEN SHAREHOLDER APPOINTED TO TROY UNIVERSITY’S BOARD OF TRUSTEES TROY – Troy University alumnus C. Gibson Vance has been named to the university’s board of trustees by Alabama Gov. Robert Bentley. Bess Oswalt
ONLINE COMMERCE GROUP HONORED AT ENTREPRENEURSHIP BANQUET TUSCALOOSA – Online Commerce Group was recently recognized by the Alabama Entrepreneurship Institute for inclusion in 2011’s Inc. 500/5000 List.
Vance, a shareholder in the Montgomery law firm of Beasley Allen, was selected by Bentley and approved by the Alabama Senate. In addition, two current members – Allen Owen and Roy Drinkard – were reappointed to the board. Trustees are appointed to 12-year terms.
It was the fourth straight year that Montgomery-based Online Commerce Group (OCG) has been ranked in the prestigious list, which celebrates the fastest-growing privately held companies in the United States.
“We are pleased to welcome Mr. Vance to our Board of Trustees,” said Troy University Chancellor Jack Hawkins Jr. “As an alumnus, he has served as a wonderful ambassador for Troy University, and we look forward to the vision and leadership he will provide as a trustee.”
“Selling and producing custom products made in America is something we are all proud to
“I am thrilled and honored to be given the opportunity to serve Troy University,” said Vance,
Montgomery Business Journal April 2012
who practices in Beasley Allen’s personal injury and consumer fraud sections. “I was born in Troy and graduated from Troy State University 25 years ago. Troy University is a first-class institution and I look forward to being part of its future.” Vance received his bachelor’s degree from Troy in 1987 and his juris doctor degree from Jones School of Law in 1992.
Tom Broughton
SERVISFIRST BANK ADDS MOBILE BANKING APP BIRMINGHAM – ServisFirst Bank introduced new technology by launching a free mobile banking app for iPhone and Android users and by enhancing its website to create a userfriendly, customer-service oriented platform for clients. The free mobile banking app allows current online banking clients to access all aspects of online banking straight from their mobile phones with the same elevated security provided by the enhanced website. The enriched technology allows ServisFirst Bank clients to access their banking information on the go at any time. “ServisFirst Bank has always kept our focus on quality customer service,” said Tom Broughton, CEO and president of ServisFirst Bank. “With the technology upgrades, we look to enhance our customers’ experience by providing them with the newest trends available in banking.”
BUSINESS BUZZ ServisFirst Bank has been working with MEA Financial, a leader in the financial service solutions and products industry, to develop an app that is not only user-friendly and customerservice based, but also safe, reliable and secure for users. The free mobile banking app for ServisFirst Bank completely mirrors the recently updated website and allows online banking clients to safely access any account information and perform all banking tasks remotely. ServisFirst Bank clients can download the free mobile banking app from the appropriate store on their mobile device or visit www. ServisFirstBank.com/mobile and scan the QR Code. After downloading is complete, clients can use their current user name and password for online banking to access their information.
cracks in foundation, sheetrock or brick are all signs of foundation distress. All Ram Jack steel pilings and helicals come with a limited lifetime warranty, which is transferable if the property is sold. Ted Pinckney is the owner of the nationally known dealership, which includes 38 counties in Central and South Alabama.
lease
Ram Jack Foundation Specialists is located at 13387 Edna Brake Lucas Drive and is open 8 a.m.-5 p.m. Monday-Friday. The phone number is (334) 271-5225.
Space
office
at One Commerce Street E xt r a o r d i n a ry On-site parking spaces
In the city’s best location and at the heart of downtown growth and redevelopment
Beautifully appointed Conference Room with Video Equipment
16,000 sf of contiguous space per floor
Convenient first floor Sundry Shop
High-speed fiber-optic cabling
On-site Fitness Facility Carol Golsan
ALFA INSURANCE WILL SPONSOR BENEFIT RUN DURING CITYFEST
Ted Pinckney
RAM JACK FOUNDATION SPECIALISTS OPEN MONTGOMERY OFFICE MONTGOMERY – Ram Jack Foundation Specialists has opened an East Montgomery location. The company will visit a client’s location and conduct a free analysis, explain the causes of any foundation problems and make recommendations to correct the problems. Bulging and sloping doors,
MONTGOMERY – The City of Montgomery, Jubilee CityFest and Alfa Insurance are joining forces in the fight against cancer with the 2012 Jubilee Run for Cancer at Old Alabama Town. The May 19 event will benefit the American Cancer Society’s Relay for Life. “Alfa has always been a great partner to Jubilee CityFest and the City of Montgomery,” said Dick Morris, chairperson for the 2012 Jubilee CityFest. “We are so excited that they will be this (Continued on page 38)
Environment
On-site banking with ServisFirst Bank Superior construction, interior finishes and surroundings
On-site maintenance, controlled access and air conditioned storage available In walking distance to hotels, restaurants and shopping
Leasing opportunities from
200 sf up to 22,000 sf are currently available.
For more information visit cfcoffice.com
Contact Scott Harris
3 3 4 . 2 7 7. 1 0 0 0
s c o t t . h a r r i s @ a r o n o v. c o m aronovcommercial.com
April 2012 Montgomery Business Journal
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BUSINESS BUZZ (CONTINUED FROM PAGE 37) year’s run sponsor and that a percentage of the money raised will go to the American Cancer Society. This is just another example of a local Montgomery business going above and beyond to help our local community.” As is the case for many, the struggle with cancer is extremely personal for Carol Golsan, vice president of marketing services at Alfa. “Cancer has touched the lives of many members of the Alfa family, including my own,” Golsan said. “As a cancer survivor, I am proud of our company’s long history of supporting the American Cancer Society through Relay for Life. We are excited about this opportunity to partner with Jubilee CityFest and other sponsors to make the Jubilee
Run for Cancer not only a great fundraiser, but also a family event that focuses on healthy living.” The Run for Cancer at Old Alabama Town will celebrate the lives of cancer survivors and those who lost their lives to the disease by encouraging families to adopt a healthier lifestyle. The event will include a competitive 8K run, a 2-mile fun run/walk, a health fair sponsored by Baptist Health, a farmers’ market and children’s activities. Online registration is available through May 17 at 2 p.m. at Active.com. Fees are $25 each for the 8K and the 2-mile run/ walk and $10 for the Jubilee Junior Jog. Runners may pick up their race packets, which includes a Jubilee tech shirt for adults or a T-shirt for junior
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Montgomery Business Journal April 2012
joggers at Old Alabama Town May 18 from 1 p.m.-7 p.m., or by 6 a.m. May 19. Late registration will also be available Friday, May 18 for $30 or Saturday, May 19 for $35. Start time for the 8K is 7:30 a.m. with the 2-mile run/walk following at 8:45 a.m. Children’s activities begin at 9:45 a.m. with the Jubilee Junior Jog. All races are coordinated by the River Region Runners (R3). Race results will be posted on the R3 website at RiverRegionRunners.com. Runners may also participate in the Wackiest Running Ensemble contest. One winner will be selected from each of the three races.
ROBERTSON HANDLES SMALL BUSINESSES FOR PAYCHEX PAYROLL/HR SERVICES MONTGOMERY – Chase Robertson is the regional small business consultant for Paychex Payroll/HR Services. He concentrates primarily on small business owners and eliminating their need to handle their own payroll and payroll tax issues. Robertson can be contacted at (205) 542-2807 or scrobertson@paychex.com. • To submit your business news for publication, email a press release to editor@montgomerychamber.com. Montgomery Area Chamber of Commerce Members only.
30
Members on the Move ALIANT BANK ADDS VP FOR PROFESSIONAL, EXECUTIVE BANKING
Patty Franco
Stephanie Dozier
MONTGOMERY – Aliant Bank announced a new vice president of professional and executive banking. The company also hired an assistant vice president and business services sales officer and moved an executive from the Montgomery downtown branch to a branch on East South Boulevard.
Patty Franco is the new vice president Rose Battle of professional and executive banking, which caters to business owners who run firms such as physicians’ practices, law firms, certified public accounting firms and ad agencies. Owners of these types of businesses often have situations where their business and personal financial situations are intertwined and this service is designed to meet that need. Franco was previously employed by BBVA Compass. Stephanie Dozier, who has 19 years of banking experience, has joined Aliant as an assistant vice president and business services sales officer. She is responsible for selling and developing new business for the division. She will work out of the bank’s Zelda Road branch. She worked for Whitney Bank as a banking officer and branch manager for five years and prior to that at Colonial Bank in the same positions.
Dozier attended Auburn University Montgomery and is currently enrolled in Huntingdon College in Montgomery. She is pursuing a degree in business management. Rose Battle has been moved from the downtown branch to the East South Boulevard branch. She will retain her title of assistant vice president and financial center manager. Battle has been with Aliant Bank for five years, beginning as an assistant vice president and branch sales manager in 2006. She has nearly 14 years of banking experience. Battle recently received a master’s degree in human resource management from Troy University, where she also received a bachelor’s degree in resource management in 2004. She graduated from the Alabama Banking School in 2009. Aliant Financial Corp., the holding company of Aliant Bank, is a $1-billion community bank.
METLIFE FINANCIAL GROUP OF THE SOUTH ADDS FINANCIAL SERVICES REPRESENTATIVE MONTGOMERY– MetLife Financial Group of the South announced that Jason Green has joined the firm as a financial services representative. Jason Green
Green, a graduate of M.A. Lipscomb University in Nashville, is a registered securities representative and licensed to offer life and health products in Alabama. MetLife Financial Group of the South, an office of MetLife, offers a broad array of financial products and services including life, disability income, long-term care insurance and annuities, mutual funds and investment products.
THOMPSON INSURANCE ADDS ACCOUNT EXECUTIVE MONTGOMERY – D. Harrison Hawke has joined D. Harrison Hawke Thompson Insurance Inc. as an account executive. Hawke, a native of Mobile, will specialize in commercial insurance, brokerage and risk management, including life insurance and employee benefits. He is a 2006 graduate of the University of Alabama with a bachelor’s degree in political science and economics. He received a master’s degree in business administration from the University of South Alabama. Thompson Insurance, which was founded in 1962, is a regional insurance brokerage and risk management firm in Montgomery.
TOWNEPLACE SUITES NAMES SALES MANAGER MONTGOMERY – Adrienne Larkin has been named sales manager for TownePlace Suites by Marriott Montgomery. Larkin, who attended Morris Brown College in Atlanta, started her career as a concierge for Radisson Plaza Hotel in Detroit. She was later promoted to account executive and then senior account executive. With nearly 30 years of hotel experience, she has held sales and marketing positions with Embassy Suites, Holiday Inn, and Country Inn and Suites, all located in Montgomery. TownePlace Suites by Marriott Montgomery is a pet-friendly, all-suite hotel located at 5047 TownePlace Drive. (Continued on page 40)
April 2012 Montgomery Business Journal
39
(Continued from page 39)
ALABAMA HOSPITAL ASSOCIATION ADDS TWO MEMBERS TO STAFF MONTGOMERY – The Alabama Hospital Association Melissa George Bowman recently added two new members to its staff. Melissa George Bowman was hired as the new public relations manager, and Hunter Hunter Walton Walton joined the organization as its senior vice president for federal affairs. Prior to joining the Alabama Hospital Association, Melissa George Bowman was marketing director for Eastdale Mall. She was public relations director for the American Red Cross of Central Alabama and worked in the Alabama governor’s press office under two governors. She holds a bachelor’s degree in journalism from the University of Alabama.
Walton previously worked for Senator Jeff Sessions as legislative assistant and counsel with responsibility for many legislative issues, including health care. Walton’s previous experience also includes service in Representative Mike Rogers’ office as a legislative assistant. He has a bachelor’s degree in political science from the University of North Carolina at Chapel Hill and a law degree from Samford’s Cumberland School of Law.
CROSBY DRINKARD GROUP ANNOUNCES NEW HIRES
Founded in 1921, the Alabama Hospital Association is a statewide trade organization that assists member hospitals in effectively serving the health care needs of Alabama, through advocacy, representation, education and service. Members of the association include primarily hospitals and health systems, as well as other companies and organizations related to health care.
Tucker previously served on the Calhoun County Chamber of Commerce board of directors. His company, Plus Color, is a corporate and collegiate event landscaping business. •
MONTGOMERY – The Crosby Drinkard Group has added two associates with extensive background in governmental relations. Former county commissioner Andy Naramore and Donnie Tucker, CEO of Plus Color, have joined the Crosby Drinkard Group. Naramore is a retired deputy director of the Department of Agriculture.
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Montgomery Business Journal April 2012
RIBBON CUTTINGS & GROUND BREAKINGS
HERE WE GROW AGAIN
Alabama Association for Justice 532 South Perry Street Montgomery, AL 36104 334-262-4974 www.alabamajustice.org Rebekah McKinney-President Associations/Non-Profit
Store Room Fasteners 600 North East Boulevard Montgomery, AL 36117 334-271-3152 www.storeroomfasteners.com Tim Wilsford-President Fasteners
Goodwin Animal Hospital & Pet Resort 11483 Chantilly Parkway Pike Road, AL 36064 334-279-0500 www.goodwinanimalhospital.com Dr. Donald C. Goodwin-Owner Veterinarians
Supreme Lending 6987 Halcyon Park Drive Montgomery, AL 36117 334-245-7642 www.donnayoungloans.com Donna Young-Branch Manager Mortgage/Finance
Mee Two Corporation 3960 East Boulevard Montgomery, AL 36116 1-888-241-6553 www.meetwodropthemask.org Bridgett Blakely-CEO Harold Brooks-Partner Domestic Violence Assistance
The Pride Advertising, Inc. P.O. Box 111543 Montgomery, AL 36111 334-593-2082 www.theprideadvertising.com Virginia Saunders-Editor Publications
Cadence Mortgage 8138 Seaton Place Montgomery, AL 36116 334-213-2636 www.cadencebank.com Shelly Nickles-Mortgage Lending Manager Mortgage/Finance
April 2012 Montgomery Business Journal
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New Members Advertising Specialties F & E Sportswear Inc Richard Patino 1230 Newell Parkway Montgomery, AL 36110-3212 334-244-6477
Child Care Centers MOCA Training & Business Development/Motherly Care Joyce Pearson 1714 West 2nd Street Montgomery, AL 36106 334-834-1144
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Montgomery Business Journal April 2012
Consulting Services
Employee Benefits
Groceries-Retail
PlaceMakers, LLC Nathan R. Norris 12 Boardwalk Street Pike Road, AL 36064 334-799-3726
The BeneChoice Companies Stacia Robinson 6008 East Shirley Lane, Suite F Montgomery, AL 36117 334-356-0243
Eastbrook Food Outlet Alan S. Langley 439 Coliseum Boulevard Montgomery, AL 36109 334-272-8045
Consulting ServicesEducational Training
Fitness Equipment
Insurance Companies/ Services
Vision Makers, LLC Darryl Washington 8448 Crossland Loop Suite 158 Montgomery, AL 36117 334-819-6063
Theraquatics.com Electra Henry 25 East Railroad Street Montgomery, AL 36104 334-669-8838
New York Life Insurance Michael Hardin 4121 Carmichael Road Suite 501 Montgomery, AL 36106 334-244-1696
Mortgage/Finance First South Farm Credit of Montgomery Andy Leslie 1401 Forest Avenue Montgomery, AL 36106 334-265-8535
Payroll Preparation Service
Property Management
RestaurantsSouthern
Action Property Management, L.L.C. Heather Snyder P.O. Box 6164 Montgomery, AL 36106 334-467-7448
Martha’s Place Martha Hawkins 7798 Atlanta Highway Montgomery, AL 36117 334-356-7165
Young Strategies, Inc. Berkeley Young P.O. Box 12600 Charlotte, NC 28220 704-770-3333
Telecommunications
RestaurantsFine Dining
Paychex, Inc. Chase Robertson 3595 Grandview Parkway Suite 200 Birmingham, AL 35243 205-542-2807
Travel & Tourism Research
LEK Technology Group, LLC. Ginger Lubinger 1845 Glynwood Drive Prattville, AL 36066 334-365-1903
Central Mike Cruse 129 Coosa Street Montgomery, AL 36104 334-517-1155
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April 2012 Montgomery Business Journal
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Economic Intel Unemployment Data Civilian Labor Force January p 2012
Area Montgomery MA
December r 2011
Unemployment Rate January r 2011
January p 2012
December r 2011
January r 2011
166,259
167,874
172,032
8.30%
7.80%
9.60%
Autauga County
25,066
25,406
26,046
7.00%
6.90%
8.80%
Prattville City
15,824
16,065
16,372
6.10%
6.10%
7.50%
34,691
35,093
35,767
7.60%
7.30%
8.70%
4,253
4,220
4,502
16.60%
14.70%
19.70%
Montgomery County
102,248
103,155
105,717
8.50%
7.90%
9.80%
Montgomery City
92,010
92,804
95,095
8.40%
7.80%
9.60%
Birmingham-Hoover MA
515,736
526,105
531,051
7.50%
6.90%
9.20%
Birmingham City
88,347
89,892
91,292
9.90%
9.10%
11.80%
207,326
211,433
215,029
7.20%
6.60%
8.30%
Elmore County Lowndes County
Huntsville MA Huntsville City Mobile MA Mobile City
90,844
92,300
7.30%
6.70%
8.30%
191,016
192,194
9.40%
8.60%
10.90%
87,964
89,167
89,743
9.60%
8.90%
11.20%
2,134,754
2,169,832
2,193,728
8.30%
7.60%
10.00%
153,485,000
153,373,000
152,536,000
8.80%
8.30%
9.80%
Alabama United States
89,136 188,490
MA=Metropolitan Area. pPreliminary
rRevised; Estimates prepared by the Alabama Department of Industrial Relations in Cooperation with the Bureau of Labor Statistics, based on 2010 benchmark.
Sales Tax Collections FEBRUARY 2012
FEBRUARY 2011
YEAR OVER YEAR % CHANGE
YTD 2012
YTD 2011
YEAR OVER YEAR % CHANGE
Montgomery County
$2,956,361
$2,856,027
3.51%
$6,870,664
$6,709,786
2.40%
City of Montgomery
$6,691,592
$6,499,069
2.96%
$15,689,263
$15,574,679
0.74%
$177,493
$127,493
39.22%
$330,086
$325,730
1.34%
Pike Road Autauga County Prattville
$592,854
$530,019
11.86%
$1,322,825
$1,237,218
6.92%
$1,455,994
$1,032,713
40.99%
$3,660,771
$2,632,369
39.07%
Elmore County
$373,061
$367,167
1.61%
$832,479
$821,135
1.38%
Wetumpka
$399,553
$383,490
4.19%
$924,053
$907,325
1.84%
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 months numbers.
44
Montgomery Business Journal April 2012
Montgomery Regional Airport FEBRUARY 2012 Air Carrier Operations
FEBRUARY 2011
YEAR OVER YEAR % CHANGE
YTD 2012
YTD 2011
YEAR OVER YEAR % CHANGE
922
885
4.2%
1,869
1,852
1.0%
5,604
5,258
6.6%
10,522
9,823
7.1%
Enplanements
13,428
12,600
6.6%
25,869
25,757
0.4%
Deplanements
13,690
12,316
11.2%
27,006
25,803
4.7%
Total Passengers
27,118
24,916
8.8%
52,875
51,560
2.6%
Total Operations
Source: Montgomery Regional Airport (MGM) Dannelly Field
Airline Fares
Hyundai Sales
Roundtrip airfare comparisons from Montgomery, Birmingham and Atlanta airports to key destinations.
VEHICLE
FEB 2012
FEB 2011
YTD 2012
YTD 2011
Accent
5,806
4,504
10,147
8,748
MONTGOMERY
BIRMINGHAM
ATLANTA
Sonata
17,425
15,723
31,914
28,984
Baltimore (BWI)
$258
$325
$199
Elantra
13,820
12,289
24,720
21,948
Boston (BOS)
$407
$397
$269
Santa Fe
3,864
4,276
8,682
8,691
13
167
31
323
DESTINATION
Charlotte, NC (CLT)
$204
$195
$252
Azera
Chicago (ORD)
$301
$184
$228
Tucson
3,736
3,342
6,852
6,205
Veloster
3,240
N/A
4,933
N/A
Cincinnati (CVG)
$371
$305
$245
Dallas/Ft Worth (QDF)
$355
$309
$208
Veracruz
451
558
1,187
1,137
2,512
2,441
4,803
4,224
Denver (DEN)
$338
$298
$260
Genesis
Detroit (DTW)
$453
$335
$279
Equus
Houston (HOU)
$366
$316
$262
Total
Indianapolis (IND)
$405
$344
$291
Las Vegas (LAS)
$538
$504
$384
Los Angeles (LAX)
$462
$394
$346
Memphis (MEM)
$369
$339
$269
Miami (MIA)
$381
$335
$184
Nashville (BNA)
$282
$177
$298
New Orleans (MSY)
$601
$529
$414
New York (JFK)
$311
$290
$280
Orlando (MCO)
$262
$187
$298
Philadelphia (PHL)
$348
$247
$315
Pittsburgh (PIT)
$324
$357
$246
St Louis (STL)
$219
$179
$206
Seattle (SEA)
$473
$413
$370
Seoul, Korea (SEL)
$1,441
$1,395
$1,520
Tampa (TPA)
$321
$174
$298
Washington DC (DCA)
$380
$197
$270
284
233
576
487
51,151
43,533
93,845
80,747
Source: Hyundai Motor America
Date of travel: April 17-22, 2012. Date of pricing: March 11, 2012. Source: travelocity.com
Montgomery Metro Market Home Sales JANUARY 2012
DECEMBER 2011
Month/Month % Change
JANUARY 2011
Year/Year Change
Median Price
$105,500
$124,500
Average Price
$124,312
$140,796
%
Statewide JANUARY 2012
-15.26%
$120,000
-12.08%
$114,935
-11.71%
$140,883
-11.76%
$136,263 32,835
Units Listed
2697
2631
2.51%
3009
-10.37%
Months of Supply
14.7
11.5
27.83%
20.1
-26.87%
13.5
Total # Sales
184
228
-19.30%
150
22.67%
2,426
Days on Market
96
99
-3.03%
108
-11.11%
156
Source: Alabama Center for Real Estate (ACRE), The University of Alabama
April 2012 Montgomery Business Journal
45
Montgomery Building Starts Building Permits FEBRUARY 2012
Building Valuations
JANUARY 2012
FEBRUARY 2011
FEBRUARY 2012
JANUARY 2012
FEBRUARY 2011
New Construction
18
20
27
$3,855,200
$2,811,400
$4,937,600
Additions and Alterations
76
60
71
$4,817,000
$2,564,600
$4,614,000
Others
27
30
39
$223,600
$98,800
$328,400
Total
121
110
137
$8,895,800
$5,474,800
$9,880,000
Source: City of Montgomery Building Department
Quarterly Reports QUARTERLY REVENUES
NET INCOME
EARNINGS PER SHARE
EARNINGS ESTIMATE
YEAR-AGO REVENUES
YEAR-AGO NET INCOME
Abercrombie & Fitch
$1.3B
$19.6M
$0.22
$1.13
$1.5B
$92.6M
MetLife
$16.8B
$1.1B
$1.06
$1.24
$12.7B
$51M
NAME
Premium and fee revenue up 23%
Marriott International
$3.7B
$141M
$0.41
$0.47
$3.7B
$173M
Added 40 properties and 6,900-plus rooms
Advance Auto Parts
$1.3B
$66.4M
$0.90
$0.75
$1.3B
$48.1M
Added 99 stores last year
Home Depot
$16B
$774M
$0.50
$0.42
$15.1B
$587M
Revenue at U.S. stores opened at least one year up 6.1%
Cracker Barrel
$659.2M
$25.6M
$1.10
$1.14
N/A
$28.8M
Wal-Mart
$123.2B
$5.2B
$1.50
$1.46
$116.4B
$6.1B
$3B
$12.3M
$0.04
$0.00
$3B
(-$108.6M)
Office Depot
Revenue increased 5% Profit declined 15%, but revenue rose 5.9% Offered less discounts
Texas Roadhouse
$276.6M
$12.3M
$0.17
$0.16
$244.6M
$10.1M
Revenue increased 13%
Domino’s Pizza
$501.7M
$30.9M
$0.52
$0.49
$480M
$24.4M
U.S. same-store sales up 6.8%
$1.8B
$166.9M
$4.15
$4.04
$1.7B
$148.1M
Profit increased 12.7%
AutoZone Costco
$23B
$394M
$0.90
$0.88
$20.9B
$348M
Membership revenue rose $33M to $459M
JC Penney
$5.4B
(-$87M)
(-$-0.41)
$0.68
$5.7B
$271M
Loss partly related to new pricing strategy
Lowe’s
$11.6B
$322M
$0.26
$0.24
$10.5B
$285M
Comparable-store sales jumped 3.4% best since first quarter of 2006
Gap (Banana
$4.3B
$218M
$0.44
$0.42
$4.4B
$365M
Large discounts caused profit decline
$2B
$141.5M
$2.77
$2.02
$1.9B
$109.6M
Kohl’s
$6B
$455M
$1.81
$1.80
$6B
$494M
Target
$20.9B
$981M
$1.45
$1.40
$20.3B
$1B
Limited Brands
$3.5B
$359.1M
$1.17
$1.46
$3.5B
$452.3M
Sears Holdings Corp. (Kmart)
$12.5B
(-$2.4B)
(-$22.47)
$2.21
$13B
$374M
TJX Companies (TJ Maxx)
$6.7B
$475.3M
$0.62
$0.62
$6.3B
$334.4M
Zale Corp.
$664M
$28.8M
$0.77
N/A
$627M
$27.2M
Revenue increased 6%
Dollar Tree
$2B
$187.9M
$1.60
$1.58
$1.7B
$162.5M
Sales rose 13%
Chico’s FAS
$569.2M
$25.1M
$0.15
$0.11
$475M
$20.7M
Revenue jumped 20%
Winn-Dixie
$2.1B
(-$18M)
(-$0.32)
N/A
$2.1B
(-$24M)
Same-store sales up 2.6%
RadioShack
$1.4B
$11.9M
$0.12
$0.13
$1.3B
$57M
Wendy’s
$615M
$3.9M
$0.01
$0.03
N/A
(-$10.8M)
Revenue up 4% at North American stores opened at least one year Revenue increased 10%
Republic, Old Navy)
Dillard’s
(Victoria’s Secret)
Big Lots
$1.7B
$114.7M
$1.75
$1.73
$1.5B
$110.1M
Foot Locker
$1.5B
$81M
$0.53
$0.51
$1.4B
$47M
DineEquity
$242.2M
$27.3M
$1.51
$0.83
$299.9M
(-$58.1M)
(Applebee’s, IHOP)
Buying back $250M worth of stock Profit fell 7.9% Sluggish holiday sales led to 5.2% profit decline Took $256.1M restructuring charge for asset writedown Cutting inventory $580M; selling 11 stores for $270M Profit surged 42%
Profit fell 79%
Profit jumped 42% Cut debt by 15%
PetSmart
$1.6B
$102M
$0.91
$0.90
$1.5B
$90.3M
Sales at stores open longer than one year up 5.5%
Dick’s Sporting Goods
$1.6B
$111.1M
$0.88
$0.88
$1.5B
$87.5M
Quarterly profit jumped 27%
$1B
$51.3M
$0.26
$0.35
$916.1M
$87M
Hibbett Sports
$190.7M
$15.8M
$0.59
$0.56
$173.2M
$12.5M
Ann
$566.7M
$2.2M
$0.04
$0.11
$515.3M
$8M
American Eagle Outfitters
46
NOTABLE Profit falls on sharp discounts, higher production costs
Montgomery Business Journal April 2012
Revenue at stores open at least one year rose 10% Profit rose 27% Profit declined 73%
BaptistTop15MontgomeryBusJournal:Layout 1
2/13/12
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2:03 PM
Page 1
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