Montgomery Business Journal – November December 2010 by Montgomery Area Chamber of Commerce

Proven performance. Southern Savvy.

For over half a century, Aronov has performed in the Southeast by providing the right properties in the right markets, with the services, skills and ingenuity to consistently create value. We offer a broad range of real estate services to create value in todayâ&#x20AC;&#x2122;s changing markets.

THE LARGEST PRIVATELY OWNED REAL ESTATE COMPANY IN THE SOUTHEAST.

3500 Eastern Boulevard, Montgomery 334.277.1000 | www.aronov.com OFFICE

R E TA I L

APARTMENTS

HOMES

INSURANCE

RESORTS

WA R E H O U S E S

Nov/Dec 2010 18 42

8 10

Contents

Chairmanâ&#x20AC;&#x2122;s Column

Calendar

Member Profile: KOWA Pharmaceuticals

Q&A with Dr. David Bronner

Alabama Business Confidence Index

Alabama State University Transforms Itself

Emerge Group Wins Award

Hyundai Heavy Industries Breaks Ground

There is Nothing Impossible for Montgomery

Guest Commentary with Jimmy Stubbs

Business Buzz

Members on the Move

Ribbon Cuttings

New Members

Economic Intel

24 November/December 2010 Montgomery Business Journal

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

Randall L. George Executive Editor

Tina McManama Managing Editor

David Zaslawsky Design

Copperwing Design Photography

Jamie Martin On the cover:

David Bronner, CEO, Retirement Systems of Alabama Cover photo

Robert Fouts 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 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 2, Issue 11. POSTMASTER send address changes to Montgomery Business Journal, c/o Montgomery Area Chamber of Commerce, P.O. Box 79, 41 Commerce Street, Montgomery AL 36101, or email mbj@montgomerychamber.com. The Montgomery Business Journal welcomes story ideas from its readers. Email to: editor@montgomerychamber.com. Subscriptions are a part of the Montgomery Area Chamber of Commerce dues structure. Subscriptions can also be purchased for $30 per year at www.montgomerychamber.com/mbjsub.

Montgomery Business Journal November/December 2010

3 & . ) ' 8 - : - 8 = 4 63:-()7 '0 %6-8 = -RHITIRHIRX XLMROMRK EPMKRIH [MXL ]SYV MRZIWXQIRX KSEPW

7MRGI ` FMPPMSR YRHIV EHZMWIQIRX ` * II SRP]

-RZIWXQIRX %HZMWSV )\TIVMIRGI ` 3FNIGXMZMX] ` -RRSZEXMSR

(IWMKRMRK MRZIWXQIRX WXVEXIKMIW JSV MRHMZMHYEPW JEQMPMIW ERH MRWXMXYXMSRW 1SRXKSQIV] ` &MVQMRKLEQ ` [[[ [IPGLLSVRWF] GSQ November/December 2010 Montgomery Business Journal

Chairman’s Column Where has the year gone? It’s hard to believe that this combined November/ December MBJ is the year’s final edition. The past ten months have flown by in a blink, and no wonder, with the amazing amount of activity – and productivity - taking place at your Chamber. We’ve had strong economic news in Montgomery and the River Region this year: 1,000 new jobs announced with Hyundai Heavy Industries’ first international facility, in addition to 150 corporate headquarters jobs announced and a strengthening of the global information technology mission at MaxwellGunter. The economic gains from tourism are building, with the CVB already surpassing 2010 sales projections. This month’s Q&A with visionary Dr. David Bronner is a timely tie-in to the incredible impact of the convention center complex and the radical transformation of Montgomery’s image. Vision and transformation emerge as a common thread in this issue, as the Chamber prepares to embark upon the next phase of its Imagine a Greater Montgomery economic development strategy. Next year will mark the fifth and final year of the original Imagine, and what better way for Chamber and community leaders to imagine the “possible” than by traveling to one of the hottest cities in America today - Austin, Texas. We’ll learn firsthand how the Texas state capital took it to the next level. As this November/December issue comes off the press, we will be in the final days of the Total Resource Campaign. We have an awesome group of volunteer leaders who are taking this year’s campaign to the next level with their commitment and enthusiasm. Thanks for making it happen.

Nimrod T. Frazer, Jr,

2010 Chairman of the board Montgomery area chamber of commerce

Montgomery Business Journal November/December 2010

Calendar Montgomery Area Chamber of Commerce Events

NOVEMBER

MILITARY APPRECIATION COMMUNITY TRIBUTE Sponsored by Amridge University Sun., Nov. 7 â&#x20AC;&#x201C; Sat., Nov. 13

RIVER REGION ECONOMIC SUMMIT 7:30 AM @ Renaissance Hotel & Spa at the Convention Center 201 Tallapoosa Street, Montgomery Registration: www.montgomerychamber.com/

10 12 30

DECEMBER

60 MINUTE COFFEE Sponsored by St. James School 8 AM @ St. James School 6010 Vaughn Road, Montgomery Free event, exclusively for Chamber Members

CEO ROUND TABLE BREAKFAST 7:30 AM @ The Small Business Resource Center 600 South Court Street, Montgomery Registration: www.montogmerychamber.com/ceoroundtable

CHAMBER 101 Sponsored by Heartsill Payroll Professionals 8 AM @ Montgomery Area Chamber of Commerce 41 Commerce Street, Montgomery Registration: Deborah Pope at 334-240-9298

138TH ANNUAL MEETING 11:30 AM @ Renaissance Hotel & Spa at the Convention Center 201 Tallapoosa Street, Montgomery Registration: www.montgomerychamber.com/138 PAYROLL TAX UPDATE Presented by Jackson Thornton 8:30 AM @ Embassy Suites 300 Tallapoosa Street, Montgomery Registration: www.montgomerychamber.com/payrolltax

Convention Calendar compiled by the Montgomery Area Chamber of Commerce Convention and Visitor Bureau

NOVEMBER 4-6

Alabama Art Education Association Fall Conference

7-10

Grand Lodge of F and AM of Alabama Conference

10-17 13-15 16-19

Bonnie Plant Sales Meeting

19-20

Beasley Allen Law Firm Legal Strategies Conference

YMCA Youth Judicial Conference United Cerebral Palsy Early Intervention Conference

DECEMBER 1-4 6-9

Alabama Education Association Delegate Assembly Pipeline Safety Training Conference

November/December 2010 Montgomery Business Journal

Member Profile

Ben Stakely is CEO of Kowa Pharmaceuticals America, which is based at the Montgomery Industrial Park in East Montgomery.

â&#x20AC;&#x2DC;Looking for a wedgeâ&#x20AC;&#x2122; Kowa Pharmaceuticals America carves niche in treating cardiovascular disease by David Zaslawsky

A new medication to combat cholesterol has been available for a few months thanks to a Montgomery company.

Montgomery Business Journal November/December 2010

He also said that his company is learning from Eli Lilly “because we don’t have a lot of experience in certain areas. We are building on relationships they have with customers.” Stakely said he is pleased with the early results of Livalo. “The feedback from the sales force – it’s been received very well, but we don’t have enough data points. What you do in the first six months is going to dictate the future success of the product.” That company – Kowa Pharmaceuticals America – is the sales and marketing arm in the United States for the parent firm, Kowa Co. Limited, which is based in Nagoya, Japan. Kowa, a major conglomerate with businesses in electronics, optics, mining and textiles, has a pharmaceutical research and development company in North Carolina called Kowa Research Institute, which performs clinical development. Kowa Science Institute, which does basic research, is based in Boston and works in collaboration with Brigham Williams Hospital. That new medication is Livalo, is a statin which can reduce LDL cholesterol by up to 45 percent, according to Ben Stakely, who is the CEO of Kowa Pharmaceuticals America. The company is located at the Montgomery Industrial Park in East Montgomery. “Our statin is the seventh statin to come to market,” Stakely said. “It’s an established marketplace. We don’t need to build a market; we’re just looking for a wedge of that market – a piece of that market.” That market, according to Stakely, is “huge.” He said that 80 million Americans have some form of cardiovascular disease, which includes high cholesterol, high blood pressure and diabetes. “Seventy-five million Americans are on multiple chronic medications,” he said. “That’s where Livalo fits.” He said Livalo has been doing well in Japan, Korea, Thailand and China and will be on the market in Europe in 2011. Livalo, which competes against such well-known medications as Lipitor and Crestor as well as $5 generics – works differently than its competitors. Stakely said that 75 percent of all medications travel through a certain pathway, which can lead to interaction between drugs. “Our drug was designed to go through a different pathway so the potential for drug-to-drug interaction is less,” Stakely said. “The potential for side effects is less and that’s our hook. We have the right product and we have the right partner in Eli Lilly.” Stakely said his company partnered with Eli Lilly because of that firm’s resources, which include 39,000-plus employees worldwide and nearly 19,000 in the U.S. Eli Lilly is the 10th-largest pharmaceutical company in the world. Kowa Pharmaceuticals America, which has 330 employees including a sales staff of 250, has a managed care department of two people while Eli Lilly has a managed care team of 100, according to Stakely. The managed care employees talk to insurance companies about putting new medications on their list of acceptable products.

Livalo is being marketed in trade journals and magazines. The sales representatives are talking to doctors, pharmacists and insurance companies “to get our name out there,” Stakely said. There are no television ads in the initial campaign, but that will be reviewed after 12 months. This is the second product that Kowa Pharmaceuticals America has sold and marketed. The company, which was formerly called ProEthic Pharmaceuticals before being acquired by Kowa, has a license agreement to sell and market Lipofen. That medication, which reduces triglycerides to fight high cholesterol, was developed by Cipher Pharmaceuticals, a Canadian company. Cipher Pharmaceuticals performed the clinical work and got the drug approved, but lacked a sales and marketing division. That’s where Kowa Pharmaceuticals America came in. Stakely said that his company will continue to have products coming through the Kowa pipeline and will also look at licensing agreements with other companies. He expects the next medication to be available in less than five years and the firm will continue to market and sell cardiovascular products. In the next five to 10 years, Stakely said the sales force could double to 500. “We’re going against the trend now – we’re growing and everybody else is laying off,” he said. “We will have a larger portfolio of products we’re marketing.”

Kowa Pharmaceuticals America Inc. Number of employees

330

Number of sales staff

250

Number of products on the market

“One of the valuable things about our relationship with Eli Lilly is we are utilizing a lot of their strengths,” Stakely said. “They are distributing Livalo. They have certain relationships that we didn’t have.”

November/December 2010 Montgomery Business Journal

investing David Bronner is CEO of the Retirement Systems of Alabama (RSA) and oversees a $28 billionplus pension fund that serves more than 325,000 public employees and retirees. He was recently interviewed by Montgomery Business Journal Managing Editor David Zaslawsky Montgomery Business Journal: The University of Alabama’s Center for Business and Economic Research conducted an economic impact of about RSA’s owned investments in Alabama. The bottom line was 19,225 jobs and $3.3 billion in output, which is the value of goods and services produced in Alabama. For the 2002-2008 period, capital expenditures were $854.3 million. Please comment about RSA-owned investments in the state, which accounted for nearly 2 percent of the state’s GDP in 2007 ($165.8 billion). Bronner: One of the things, historically that you have to keep in perspective is that Alabama has been one of the poor states. I made a judgment about 15 years ago that unless we invested in ourselves, we couldn’t really change. What I was trying to do was to find industries for many decades, but also to say if you can’t find the industries what can you create? That’s why we created things like the Robert Trent Jones Golf Trail or the eight hotels we have across the state. We also did office

Montgomery Business Journal November/December 2010

yourself

buildings in Montgomery and Mobile. Part of that was to say if you’re going to invest big dollars in first-class or Class A office buildings – the only ones you had in the state were in Birmingham and the only reason you had those was because you had big banks, who wanted to have a corporate headquarters that they were proud of. We did that intentionally to try to change the image of the state, to improve the image of the state and simply to bring people to the state. In conjunction with that we have a couple of major organizations that are influential across the country. MBJ: Those organizations are? Bronner: Raycom Media has 43 TV stations and Community Newspaper Holdings Inc. has about 99 newspapers. They are big from the point of view of not only size, but also importance in the country. By having their corporate headquarters in Alabama you expose Alabama to a whole set of people that you never would have had the chance to otherwise. MBJ: In that economic impact study, it also showed RSA providing more than $670 million in advertisement benefits that contributed to growing the state’s tourism industry from $1.8 billion to more than $9.5 billion. Didn’t that exposure also help Alabama recruit new industries to the state? Bronner: Exactly. Decades ago when you looked at Alabama tourism, it was pretty pathetic. Even 15 years ago it was only $1.8 billion and now it’s about $9.6 billion. But even back then – 15 years ago – Florida had a budget of about $30 million a year to advertise, and we had a couple hundredthousand dollars. By using the newspapers and TV to do what the public won’t do you’ve

Q&A with David Bronner

created that same ability to advertise and firepower behind your message because without money you really don’t have anything. Without money you’re basically sitting there talking about it and you don’t have the firepower behind it. As I’ve often said – my dad convinced me in eighth grade ‘that ideas without money remain ideas.’ So if you don’t have the money, you better figure out another way to do it. What we did was to try to find an investment that we knew had excess capacity, and any newspaper, TV or radio station has excess time, but then to capture that excess time and advertise something called your state. MBJ: RSA recently funded an outlet shopping center in Leeds, which will create an estimated 700 jobs. Do you see any potential in the River Region for an outlet mall such as The Shops at Grand River? Bronner: I tried to do that actually about 10 years ago and I wanted to do that in downtown Montgomery, but we couldn’t do it because it was (too close to) Eastdale Mall. That’s why that shopping center in Leeds works as an outlet center because you can’t have any competition within so many miles. MBJ: Are there any other sites in the River Region where an outlet mall makes sense? Bronner: It could probably work here. But (because of) your retail growth in Prattville in particular – it takes away most of the chances to do that because you’ve already developed now. With the new shopping center in Montgomery near AUM (Auburn University at Montgomery) and new shopping center in Prattville you just don’t have the need that you did when I really looked at the idea a decade ago.

MBJ: RSA has two residential real estate developments in Alabama. Are there opportunities for similar type of residential real estate developments in the River Region during a time when the market is in trouble? Is this a good time to invest for the long term? Bronner: Often I do things and sort of sit and wait and see if anybody else will do anything. In the case of the golf courses, we put some hotels there because nobody else decided to do it. In the case of Opelika, we had hundreds and hundreds of extra acres so we fundamentally started a small project over there – two 36-unit places. We actually sold over half of them in the last year. That’s worked out pretty well or at least it’s going in the right direction. The one real estate thing that we’ve done at The Grand has not worked out because we couldn’t have hit it at a worse time. It’s just one building with about 30-some units in it and we probably only sold a dozen of them. Residential is not something that I would want to be in. I would rather let other people do it, but there was an opportunity at The Grand which was unique because we owned the only land there. The other opportunity was that we already had the acreage at Opelika. To go out and find new land and do something now … we would be looking at things coming through that somebody has spent $200 million, $300 million, $400 million or $500 million on and trying to buy it for $50 million or $75 million. We just bought the old AmSouth building in Mobile about a year ago because it was in bankruptcy. Real estate right now in this country is not exactly a great place to be unless you’re a buyer.

Continued on page 12

November/December 2010 Montgomery Business Journal

Continued FROM PAGE 11

MBJ: Speaking about real estate, the City of Montgomery has bought the One Court Square building. If you were advising Montgomery Mayor Todd Strange, what would you recommend for the property? Bronner: The city is making progress whereas for a long time it didn’t make much progress. Part of that progress is the ability to live above your store. Our first big venture downtown was getting the baseball park (Riverwalk Stadium). That clearly was the first instrument that we got that was meaningful. Once you got the new hotel downtown (Renaissance Montgomery Hotel & Spa at the Convention Center) and redid the civic center and created the performing arts center you then had the genesis to create The Alley and activities like that – restaurants and late-night things. That is just a continuation of progress and the next big step as I’ve already told the mayor is to get some sort of supermarket downtown. You are never going to develop your ability or my ability to live downtown – especially if I am one who doesn’t have a car or want a car – without grocery stores. That’s one of the next big challenges. I think

once they can get a grocery store and get more people living in condominiums – tops of buildings that would be retail on the first floor and living above it then you have to develop that base called a grocery store. Eventually you have a have a supermarket downtown if you are going to develop all those warehouses and things into condominiums. MBJ: Getting back to One Court Square, what would you like to see there? Bronner: You will have to develop it into something that has multiple purposes whether it’s a library-type thing. One of your great assets of downtown Montgomery is Troy University, which is a great attribute and hopefully it can flourish and continue to flourish. The growth of a university makes all the difference. Even though it started out as a night school, hopefully it will expand into more day classes. Once you expand into more day classes, you have more regular students not just working people. The more regular students you have then you have more demands for housing; more demands for that supermarket.

Montgomery Business Journal November/December 2010

MBJ: Are you saying One Court Square could have a library, loft apartments and offices for Troy University. Bronner: It could be anything. It really depends on what the mayor wants to do. I know we want to do (something) with those old, empty buildings on Dexter Avenue. Once you have accomplished that with what has been accomplished with the baseball park, hotel and The Alley – now you really have something going. MBJ: I’ve heard that you would not have built the Renaissance without the Biscuits and Riverwalk Stadium. Is that accurate? And if so, why? Bronner: That’s true because there was no reason to be downtown unless I create everything myself. The baseball park was what I originally told Emory Folmar when he was mayor. They were concerned that it would fail and I said, ‘I don’t care even if it does fail – by wiping out the blight you helped downtown.’ At worst case, the kids can use it. It’s obviously been a roaring success. MBJ: When I first came in December 2001, downtown was dead. Now, there are people

everywhere, restaurants, bars and you can hear music from several locations. Bronner: You have to thank the guy who got me to finance the Embassy Suites because that was really the first. You have to thank the (Montgomery) Advertiser for leaving its old property and the county taking it over and making it useful, but more importantly building a new building and staying downtown – all are important. Because when you have jobs you then have restaurants, you have hotels and things like that. If you abandon the place with no jobs then everything else has to leave. Getting those companies downtown and staying there is incredibly important. MBJ: The Regions Bank building on Commerce Street is for sale. Doesn’t that create some opportunities? Bronner: You can always do things with buildings it just depends on how much money you want to spend. MBJ: Are you interested in such a building? Bronner: I have my own deal going in Mobile and I have all of these nice new buildings. It’s tough to go ahead and mess around with old ones. Any building you can do anything to. Remember what I did to St. Margaret’s Hospital. It was abandoned. Now it’s the home of the Department of Public Safety; it’s the home of Pardons and Parole; and it’s the home of the Board of Corrections. You have to have something in mind to what you’re going to do with it (old building). And remember a hospital is a lot worse than a bank building. I had more holes when I gutted that place than you can imagine. The floors looked like Swiss cheese. The idea being you can do about

corporate headquarters from Birmingham to Montgomery and was the first announced tenant in the RSA Dexter Avenue building. Do you have any other tenants and when do you expect to fill the 200,000plus square feet of office space?

That’s one of the things I’ve tried to convince Alabamians about…

Bronner: I have one big one. What happens is the same way the RSA Tower was built. When I built that we had about 30 to 40 percent of it rented and it took me about four years (to fill it). We are close on three different leases (for the RSA Dexter Avenue building). We don’t talk about them until we finalize them. Once we get another two leases and they start to see how the building forms out, then we’ll have action, and if not – I’ll try to go buy some other company someplace in the United States and move it here just like I did with CNHI. I have a back-up plan.

MBJ: When you said you have one big one at the RSA Dexter Avenue building, were you referring to CNHI and its 70-plus employees? Bronner: Yes, that’s a neat one because the salaries are so high. That’s not your normal company when you have $70,000 average salary in Alabama. You would be looking for professionaltype organizations to move in there. MBJ: Wouldn’t that be a great location for lobbyists?

…that you have to invest in yourself.

anything you want to with any type of building if you will be creative enough to say what really works in something like this. In the case of the hospital, the whole thing there was knocking out one wall after another and then filling every hole because a hospital has more holes through the floor than you can imagine. You can do a lot of different things it’s just whether you have a market for that. MBJ: The Community Newspapers Holdings Inc. (CNHI) is moving its

Bronner: We could, but we probably won’t because I put one in here (RSA corporate headquarters). We have Baumhower’s in this building. Again, you are looking more for the upscale, white-collar job. It might be in the insurance industry; it might be in the banking business; you need things like that.

Bronner: The other ones (buildings) are even closer like the RSA Plaza. If it’s a big lobbying group – that would be impressive. We don’t chase that – they’ll come if they want to come. You really are looking for professional organizations that add to the status of Montgomery. MBJ: Will the building have retail on the first floor – maybe a restaurant?

MBJ: How would you characterize the River Region’s economy? Bronner: Historically, if you look at Montgomery, it had state government, which should be stable and federal government, which should be stable. The problem is in the immediate years because of the state government budgets across the country not just Alabama, that won’t have the growth that it had before unless there is a special allocation from the feds. I don’t see the growth at all in state government across the country because they have themselves in a financial pickle. The growth in Montgomery will come from downtown if we can keep finding companies that are relatively new or start-ups or older companies that I can find and bring here that I want to keep a closer eye on than if I wanted to operate in Nashville. Like I said, CNHI is in 22 states or Raycom, which is in more than 20 states. If you can get the corporate headquarters – the dynamics of that town – are phenomenally affected. For example, look at the airport. Somebody that is trying to sell something to our newspaper in Massachusetts or Texas is going to end up in Montgomery. Someone that is trying to sell something to the TV group is going to end up in Montgomery because you have to go to corporate headquarters - most of the decisions are made there. MBJ: How has the Renaissance Montgomery Hotel & Spa at the Convention Center fared, and how does it compare to other hotels on the golf trail? Bronner: When you build a downtown hotel, you generally build in you’re going to lose money for three or four years. We started Continued on page 14

November/December 2010 Montgomery Business Journal

Continued From Page 13

making money right away – toward the end of the first year. That was due principally to the newness and the unusualness of having a neat hotel in Montgomery because you didn’t have any. You had the Embassy Suites, which is good, but has been here for 15 years or 20 years. We’ve been happy with it (Renaissance); it’s making money and it will make money. I always thought it would make money and the reason I thought it would make money is that even in a relatively poor state like Alabama you constantly have conferences. Yes, you can have them at the beach; yes, you can have them in Huntsville, but the problem is you usually lose anywhere from 25 percent to one-third of your audience whereas if you have it in Montgomery, you pick up that 25 percent to 33 percent extra attendance. That’s been true and don’t forget all your statewide organizations are housed in Montgomery. Obviously, if you have a statewide organization – yes you want to go out in the state and encourage you to do that – but you are also going to have a preponderance of your meetings in Montgomery if at all possible. If you’re in

MBJ: Does The Alley compete with your restaurants and bars at the Renaissance? Bronner: Some people say doesn’t it bother you to have restaurants down there and more bars than just yours? The answer is: ‘Are you kidding me?’ The more you have – every new place that opens takes a little business away for a few weeks or few months, but what it does is down the road it proportionally grows the pie for everybody. That’s the whole purpose of what RSA has tried to do since I’ve been here. MBJ: You made a proposal to fund a new Statehouse two years ago. Is that something you are still trying to work on?

Huntsville you can meet here in two hours and from Mobile you can be here in two hours, but if you’re in Huntsville and have to go to Gulf Shores – five hours later you’re a tired puppy. That’s why it (Renaissance) worked out and again it’s the baseball park and the business community of Montgomery wrapping their arms around the hotel and doing The Alley.

Montgomery Business Journal November/December 2010

Bronner: You can’t really tell now because you have a new governor; you have a new Legislature; and the problem is when you have a switch over come January of next year, you are going to have people who have a totally different scenario as far as where they want the state to go. My theory is very simple: I have recommended a new Statehouse since the ’70s. I actually took the Speaker of the House in the ’70s to Tennessee to

show what one should look like and it should not be an old state building that was built for the highway department. That’s one of the things I’ve tried to convince Alabamians about that you have to invest in yourself. If you don’t want to invest in yourself it’s a little hard for other people to come in and invest. The stronger the state is the stronger the retirement system is. That’s always been my philosophy since the ’70s. If the state is weak and people aren’t working and there are no tax dollars, then the retirement system is weak. If the state is prosperous and people are working and paying their taxes, the retirement system is stronger. MBJ: What would you like to see the state Legislature do next year? Bronner: They have to sometime in their lifetime address the tax issue in the State of Alabama because it is unfair and unreasonable. They also have to start addressing what the whole country is addressing – it’s on the nightly news every night now – is the education issue. We simply cannot have 50 percent of our kids not graduating from high school. That’s crazy. If

you think you can be competitive in this world you’re kidding yourself. You’re not doing those kids any favor and you’re not doing the state any favor. Those are the two primary issues. But there are a lot of other socioeconomic issues in the state: We have always operated on the cheap. I cannot get out of my mind you’re funding the state prisoners at the lowest level in America – roughly $10,000. The next lowest state is South Carolina, which funds them at $13,000 a prisoner, which by the way is 30 percent more than Alabama. By the way, the national average is $25,000. You can’t ignore these problems forever and think that you can build a society that industry will want to come and locate in; industry will be happy; and the people will be happy. You’re letting the infrastructure of the state just sink. Eventually, you have to face certain problems. MBJ: What is your vision for Montgomery and the River Region? Bronner: I think the biggest step and the biggest improvement in the last year has been the concept – even though it was talked about four or five years ago, but was not implemented well at all – and

that’s called the River Region. That means what is good for Montgomery is good for Greenville, Wetumpka, Prattville and Millbrook; what is good for Prattville is good for Wetumpka, for Montgomery and for Millbrook. They are starting to work together like they had not worked together before. MBJ: The River Region worked together to get Hyundai Heavy Industries to come to Montgomery – regional economic development. Bronner: It was a big deal. I’ve preached that for 30 years. They have to learn to work together because that’s the only way the region will be effective. Certain attributes are going to be more attractive to sell as a package – that is a River Region packaged as opposed to Millbrook or Prattville or Montgomery or Wetumpka or Greenville. Guests don’t care (which city they visit) they just want a good experience. A good experience is a nice hotel, something to do, something to eat and something to drink. •

November/December 2010 Montgomery Business Journal

Alabama Confidence Index dips in 4th Quarter – confidence still higher than 2009 by David Zaslawsky

The growing optimism of Alabama business leaders for the past six quarters has vanished, brought down by a negative outlook in the national economy. The Alabama Business Confidence Index (ABCI), which is a survey of the state’s business leaders, fell for the first time since the second quarter of 2009. The index declined nearly 4 points to 47.9 and dropped below the 50-point mark, which signals contraction in the final quarter of the year. The overall index of 47.9 is the lowest since the fourth quarter of last year. The survey, which is conducted by the University of Alabama’s Center for Business and Economic Research, saw its largest decline in the national economy component – falling 8.2 points from the third quarter to 42.1 points. Survey participants in Montgomery were a little more upbeat in their fourth-quarter outlook with an overall index of 48.3 points. Birmingham matched the ABCI at 47.9 while Huntsville was at the bottom of the state’s four-largest metro areas (45.6) and Mobile was the highest at 51.1. The following is a breakdown of the six individual components of the index: National economy This component had the highest percentage of respondents anticipating the fourth quarter being somewhat worse than the previous quarter – 41.5 percent. No other component had 5.9 percent of the respondents predicting a much

worse quarter. Nearly half of the respondents expect either a somewhat worse quarter or a much worse quarter. About 30 percent predict the quarter will be about the same and another 20 percent expect a somewhat better quarter than the third quarter. Alabama economy This component declined 2.6 points from the previous quarter to 50.0. An almost equal number of respondents expect the fourth quarter to be better (28 percent) or worse (27 percent) than the third quarter. Nearly 45 percent of the survey participants predict no change from the third quarter. Industry sales This component had the second-largest decline, falling 4.3 points from the third quarter, but also had the highest rating of all the six individual components at 51.6 points. That is a full 1.6 points greater than the state economy outlook and does indicate growth, but at a very slow rate. About 35 percent of the respondents expect the fourth quarter to be better than the previous quarter and 34 percent expect to no difference. Nearly 30 percent are anticipating a decline in sales compared with the previous quarter. The most optimistic sectors are finance, insurance and real estate, which represent a combined sales index of 58.2. The trade and construction sectors are the most negative. Industry profits This component had the smallest decline at 2.1 points. The index, which dropped to 48.4, has an identical number of survey participants - 30 percent

predicting the fourth quarter to be somewhat better or somewhat worse. About 35 percent expect no change from the previous quarter. The finance, insurance and real estate sectors expect to see an increase profits. Manufacturing, professional, scientific and technical services sectors expect profits to remain the same, but the residential and commercial construction sectors are anticipating a significant decline in profits. Industry hiring This component, which fell 2.6 points to 47.8 points, had the highest percent of respondents who expect to see no change from the previous quarter – 52 percent. The negative outlook (27 percent) outnumbers those who expect to see an improvement in the quarter (20 percent). The sectors most likely to hire are finance, insurance and real estate and other services. The weaker sectors for hiring are wholesale trade, construction and health care. Industry capital expenditures The component fell 2.4 points from the third quarter to 47.7 points. Nearly half (48 percent) of the respondents expect no change from the third quarter, but about 30 percent are predicting a decline in capital spending compared with 23 percent who expect an increase. The sectors anticipating a strong decrease in spending are trade, health care and construction while finance, insurance and real estate and other services are the most optimistic about spending. Manufacturing, professional, scientific and technical sectors are expecting a modest decline in spending.

ABCI quarterly breakdown 2002

2003

2004

2005

2006

2007

2008

2009

2010

Source: University of Alabama’s Center for Business and Economic Research

Montgomery Business Journal November/December 2010

November/December 2010 Montgomery Business Journal

Yet as significant as those changes are, and coupled with a conservative economic impact of $1.8 billion (three times the amount of spending), ASU is also undergoing a transformational change on the inside. That’s something that may have gone unnoticed because of the headline-stealing news of one new multi-million-dollar building after another. Those changes started with “enhancing the quality of students,” as ASU President Williams H. Harris said, by modifying the admissions’ policies. The university last year launched a counseling program and is developing new programs such as robotics and orthotics. The latter refers to dealing with people who have severe injuries and special needs – what you see from soldiers in Iraq and Afghanistan.

Photo by David Campbell/Alabama State University.

A Different Place

Alabama State University creates new institution from the inside out by David Zaslawsky

The physical changes taking place at Alabama State University are mind-boggling. Any time an institution or company plans $600 million-plus in new and renovated facilities over the course of 20 to 25 years the entire community notices. 18

Montgomery Business Journal November/December 2010

The university is developing forensic sciences programs at both the undergraduate and master’s levels, and Harris said a goal is to double the number of doctoral programs. Currently there are three: physical therapy, educational leadership policy and law and microbiology. Harris said the university “was founded and established mostly” as a university to prepare teachers. “We must continue to do that, but at the same time we must embrace the idea that we need to be involved in expanding the range of opportunities. We must embrace and learn new fields as they develop … We have to concentrate with degrees that focus on research. We have to focus on degrees that cause people to deal with new knowledge that we have not dealt with in the past.” One key area of concentration is on entrepreneurship, which impacts not only students in the College of Business Administration, but students in other colleges as well. As Harris pointed out, a student majoring in physical therapy may end up owning their own business and need to learn entrepreneurial skills. “We need to show folks that they can get an absolutely first-rate education at ASU,” Harris said. “We don’t have a theme, but need to ask people why leave home when you can

do it more cheaply and as competitively as you can at some other place.

Quick facts

“In order to have first-rate programs you’ve got to have good facilities – people have to feel good about where they are. That goes from our student housing to our classrooms and laboratories. We need to be able to say to people the way you live and work at ASU is equivalent to the way you live and work at any other top-rated university in the country, and that’s our goal.”

1867 in Marion, Ala.

To reach that goal, ASU is creating a town for 8,000-plus residents that happens to have a 30,000-seat football stadium. The undertaking is so massive that there are nine general contractors currently working on various projects. Harris probably needs a calculator to count the number of construction workers on campus. “We are well over 5,700 students for this semester so the growth has begun for us, and we are absolutely certain that as the new facilities come on line and the new programs are in full development the growth is going to accelerate,” Harris said. The goal for student enrollment is 8,000 and ASU “has a real interest” in attracting the region’s best and brightest, according to Harris. Next year the students will have a library that is 50 percent larger than the older building, which was gutted. The $20 million renovation to the Levi Watkins Learning Center will add about 45,000 square feet, which includes an Internet café. A massive two-story, 80,000-square-foot Student Services Center is being built in the exact middle of the campus. The $25 million, state-of-the-art facility, scheduled to open in January 2012, will “have almost everything a student could want,” Harris said. “You can pay your bills there; check on your financial aid, watch a movie; there are banquet rooms – it’s going to be a little palace when it comes on line.”

Year founded

Number of students

5,750 Other features include a cyber café, post office, bookstore, computer lab, food court and movie theater as well as suites for student government leaders and sororities and fraternities.

Number of courses

While the library is being torn down and rebuilt and Student Services Center is springing out of the ground, construction has also begun on a new $15 million suite-style student housing facility – two, 80,000-square-foot buildings that will hold 500 students. There will be three options for housing – single, two people and four people sharing a suite.

Annual payroll

A big-time football complex is under construction that will include a balcony overlooking the football field. The $6 million project, which replaces temporary trailers that have been used for about 15 years, features coaches’ offices, team rooms, locker room, training room and an academic lab.

2,567 (1,886 undergraduate) Number of programs

$48.8 million Annual budget

$158.6 million Annual tuition for in-state student

$6,312

“It will be a world of difference,” Harris said about the new football complex. The enhanced quality is going to help us considerably in recruiting when we bring parents and students to the university. They are going to see a different place.”

Number of undergraduate degrees Number of masters’ degrees

Number of doctoral degrees

Number of colleges

Speaking of the football complex, Harris vows the university will build an on-campus football stadium that will seat around 30,000. It’s a promise. The funding isn’t there yet, but it will be, and there is a site, Harris said. The Hornets currently play their home games at Cramton Bowl. “A stadium ought to be used more than six days a year,” he said. “I can see a stadium with a fantastic restaurant that would be easily accessible to all the people at Jackson Hospital and all the people in the surrounding area.”

6 College of Health Sciences College of Education College of Business Administration College of Liberal Arts & Social Sciences College of Visual & Performing Arts College of Science, Mathematics & Technology Source: Alabama State University

On a much smaller scale, the university will have a new baseball park complete with press box, restrooms and concession stands. There will a new women’s softball field, a soccer field plus a field for intramural sports. On another side of the campus, the university is working on what Harris Continued on page 20 November/December 2010 Montgomery Business Journal

Continued from page 19

called a “historic district” that features restored homes of Nat King Cole and the Rev. Ralph Abernathy. The university was selected two years ago as the preferred site for the Montgomery Interpretative Center of the Selma-to-Montgomery march by the National Parks Service. Harris hopes to hear an announcement soon and already has a site for the interpretative center – across the street from the homes of Cole and Abernathy, which are still being renovated. He said the university library has a treasure trove of civil rights memorabilia and archives.

William H. Harris, president of Alabama State University.

Future phases in the transformation include additional student housing facilities, hotel/conference center and a role in developing the Oak Park area. “We want to build housing that interfaces with the community,” Harris said. There will be new academic buildings and the need is greatest for the College of Business Administration and a classroom building for the College of Liberal Arts & Social Sciences, Harris said.

Montgomery Business Journal November/December 2010

Of course, you cannot change the inside of the university and its buildings without redoing the gateways. “Gateways are extremely important to us as an indicator of our permanence; of our growth and development; and of our pride in whom and where we are,” Harris said. “When we decided we were going to make this campus a destination place in Montgomery, we needed some way to make sure that we could have a demarcation. People needed to know that ASU is here. For years, when you came across the bridge at I-85 on Hall Street, you were on campus, but nobody knew it. You could go straight through ASU and never know that you had been on the campus. “We decided we were going to … make it is clear this is ASU and we’re glad you’re here. We’re proud that we’re here so when you come through that gate you’re on the campus. We also had to insist that the gateways are both visually pleasant and something that people can be proud of. ” All the new programs, buildings, gateways not to mention a parking deck, landscaping and a

Alabama State university’s Transformation PHASE ONE

PHASE THREE:

Completion

2012

2025

Cost

$160 million

$66 million

Highlights

New life sciences, forensics, health sciences and education buildings (complete); new dining hall (complete) new Student Services Center; renovate library; new football complex; baseball, softball soccer and intramural fields; parking projects.

New student housing; new academic buildings

PHASE FOUR Completion

2030 Cost

$128 million Highlights

PHASE TWO: Completion

2020

Multi-use residential/retail village; student apartments; parking area; new gateway

Cost

PHASE FIVE

$143 million

Completion

Highlights

2035

New football stadium; cultural center with Nat King Museum; amphitheater; Acadome parking deck; residential village; work on east-west pedestrian mall; streetscape improvements

Cost

$117 million Highlights

New hotel and conference center with a parking deck; student apartments Source: ASU Today Magazine

more pedestrian-friendly campus are all part of Vision 2020 and the university’s transformational plan. “People who are business folks understand that when you spend hundreds of millions of dollars it has an impact on the community,” Harris said. “The investment that we’re making in the university is an investment in the community. “What we’re saying to the people of Montgomery is that we live here; this university lives here; and we’re proud of being a part of Montgomery. Everybody who lives here ought to be proud having the university here. “I told the mayor, ‘Todd (Strange), we need to keep in mind that Montgomery is a capital city and if we’re going to be a capital city, we ought to have everything at the very highest level of expectations.” •

November/December 2010 Montgomery Business Journal

Emerge economic development group wins award ] d a ^ Y Vn Z k Z c i h

Emerge Montgomery is the young professionals program in partnership with the Montgomery Area Chamber of Commerce and Leadership Montgomery The Emerge Montgomery Torchbearersâ&#x20AC;&#x2122; Leadership Class I Economic Development Group received an Award of Excellence from the Southern Public Relations Federation. The group won the award for its work on promoting the Montgomery Public Schoolsâ&#x20AC;&#x2122; Career Academies with a project titled: â&#x20AC;&#x153;Career Academies: Your Choice, Your Chance, Your Change.â&#x20AC;? The competition recognized the best work produced in public relations across Alabama, Mississippi, Louisiana and Florida during the period of June 1, 2009 to May 1, 2010. â&#x20AC;&#x153;It is our hope that we played an active role in marketing these academies and encouraging students to enroll in them,â&#x20AC;? said Lara Lewis, who was the project chair of the economic development group. She is director of public relations and marketing for the Montgomery Museum of Fine Arts. â&#x20AC;&#x153;These academies have been extremely successful in other cities and we hope they will only further contribute to Montgomeryâ&#x20AC;&#x2122;s already strong economic development efforts and help enrich the lives of many children for generations to come.â&#x20AC;?

7PeT h^dabT[U P \Taah [Xcc[T 2WaXbc\Pb _Pach Pc 6aaZn HiVi^dc 4]Y^h \X[S 0[PQP\P TeT]X]Vb ^] cWT A^^Uc^_ CTaaPRT R[^bT T]^dVW c^ aTPRW d_ P]S c^dRW BP]cPĂ&#x201A;b b[TXVW >a QaX]V

W^[XSPh QPbWTbÂžd_ c^ & _T^_[T

In February, eighth-grade students who were zoned for Carver High School were bused into Riverwalk Stadium, home of the Montgomery Biscuits, where they were greeted by business people from across the community.

1TPdcXUd[ A^^Uc^_ CTaaPRT BTPcb d_ c^ "$

The students were invited to join the Career Academies and shown the marketing video produced by the Emerge group. After returning to school, the students were encouraged to enroll in the Career Academies.

Bcd]]X]V 1P[[a^^\ BTPcb d_ c^ "$

5aTTS^\ X] RW^^bX]V h^da ^f] eT]S^ab

4g_Tac WT[_ cWa^dVW^dc _[P]]X]V _a^RTbb

Xc X]S^âb fWTaT cWT VâVT^db ]Tf 1P[[a^^\ Xb aTPSh Uâ b\P[[ X]cX\PcT VPcWTaX]Vb â P[[ ^dc

(() ',, &%,, V a a Z n h iVi ^ d c # X d b b V c V \ Z Y W n eV g i c Z g h g Z V ai n

The Emerge group developed a five-minute video promoting and marketing the Career Academies to eighth-grade students. Career Academies are an initiative of the Montgomery Area Chamber of Commerce and Montgomery Public Schools. The academies are small schools within a school that enable students to study and train for jobs and receive certifications and college credit while earning their high school diplomas.

Montgomery Business Journal November/December 2010

There were eight members on the Emerge economic development group: Lewis, Sandy Gayden, Lane Knight, Ashley Layson, Amanda Raney, Rachel Skipworth, Jennifer Steverson, and Jeremy Walker. Before selecting a project, the Emerge group met with decision-makers and experts in the field of economic development to address facts, political implications, trends, problems and potentials. The group teamed with Nancy Beggs, director of education programs, for the Commerce. The group decided to work on a project to champion public education and build a competitive work force, which is one of the four goals in the Chamberâ&#x20AC;&#x2122;s â&#x20AC;&#x153;Imagine a Greater Montgomeryâ&#x20AC;? economic development initiative. â&#x20AC;˘

Memorable Groundbreaking Hyundai Heavy Industries announces a total of 1,000 new jobs! by David Zaslawsky

Groundbreakings are ceremonial events where little more than the thank-yous and words of appreciation flow back and from forth between officials and company leaders. Usually, there is no ground-breaking “news” at the event. That was how the ground-breaking for Hyundai Heavy Industries’ first North American manufacturing plant started. But that’s not how it ended.

Riley said in a statement that “more international corporations will see (Hyundai Heavy Industries’) success and follow them to this great state.”

“We have no doubt that our future will be exceptionally bright, and together we look forward to our mutual success in the coming years.”

The new manufacturing site will feature four buildings and combined 270,000plus square feet. The main manufacturing building is nearly 195,000 square feet.

Production at the Montgomery facility is scheduled to begin in early 2012.

Hyundai Heavy Industries, which has been the world’s largest shipbuilding company for more than two decades, will build power transformers mostly for utility companies at the Montgomery plant.

Riley said. (This) is something that can make a tremendous difference in the economy in this area.”

“Thank you for giving us the opportunity to prove to you what we can do,”

When HHI President and CEO Jai-seong Lee spoke, he announced that Hyundai Power Transformers USA, the name of the Montgomery-based company, would employ 1,000 people – double the number announced during the official signing ceremony two months earlier. Alabama Gov. Bob Riley looked over at Montgomery Mayor Todd Strange and joked that, “Knowing Todd Strange the way I do, I would imagine he’s going to come up here and say, ‘Let’s take that 1,000 jobs and go up to 1,500.’ ” Strange did say that he “loved the opportunity to expand the work force.” Riley told Lee that “everyone of us have to make sure that we do everything we possibly can to make sure Hyundai Heavy is ultimately profitable, successful and will continue to grow. If they are efficient – if they are cost-effective here – and if all of us are working together to make that happen, you never have to worry about where they are going to expand.” Neal Wade, outgoing director of the Alabama Development Office, told the crowd at the groundbreaking, “Alabama has now become known as a true international state. We have a number of international companies from Japan, China and Germany. With this company (Hyundai Heavy Industries) coming here today, we now have 53 Korean companies based in the State of Alabama.”

“Now we are ready to take the next step with the establishment of our first United States production facility,” Lee said.

Montgomery County Commissioner Ham Wilson said, “We will do everything we can to make this project successful and I know it will be successful.”

“This marks a new era in the history of Hyundai Heavy Industries and of course our commitment to being the (top) electrical systems company and our dedication to serving our valued customers in the United States and Canada.

November/December 2010 Montgomery Business Journal

‘impossible ’ there is

nothing for

montgomery

The City of Montgomery has changed in such a positive and dramatic fashion that it’s now time to raise the bar and take it to the next level. That’s the assessment of J. Mac Holladay, the founder and CEO of Atlanta-based Market Street Services, a firm that devises strategies for community, economic and work force development. His firm was intimately involved in the Montgomery Area Chamber of Commerce’s five-year strategic plan – Imagine a Greater Montgomery. Next year marks the fifth year of that initiative and Market Street Services is working with the Chamber on phase II, a new five-year strategic plan. Because of its rapid gains in a variety of areas, Holladay said that Montgomery will now be competitive with cities that it could not compete with four years ago. Actually, the second phase of Imagine a Greater Montgomery will be launched with a visit by city, county and business leaders to Austin, Texas, to learn firsthand how that city has transformed itself with Opportunity Austin I and II.

Montgomery Business Journal November/December 2010

by David Zaslawsky

“What this trip is about is really getting our leadership excited about what can be if we all come together with a common vision,” said Randall L. George, president of the Montgomery Area Chamber of Commerce. “I have great confidence this community can pull it off particularly if they see a success story that demonstrates how it can be done and has been done in other areas.” The visit to Austin is meant to fire up the troops, or as George puts it: “Whet everybody’s appetite – it’s to show people what is possible. Knowing the leadership of this community as I do, I think they would join with me in saying there is nothing impossible for Montgomery, Alabama.”

After the Austin trip, Market Street Services will evaluate Montgomery’s progress from the first campaign. “We start over with a blank piece of paper,” Holladay said. “It could be that one or more of the goals remain, but there is no guarantee. It is a fresh process. It starts over again because things have changed. “We will be able to take advantage of what we learned before, but at the same time we’ll be looking very clearly at getting another competitive assessment and looking at maybe some different communities to compare with Montgomery.” Holladay said his firm will have a strategy outlined in April and have an implementation plan ready to go by June. “The key thing about these types of strategies is to allow all of our leadership, and by leadership I mean public sector, private sector and civic leaders – to express what they believe Montgomery should look like – what the hopes are and what the dreams are,” George said. “Then you let the strategies achieve those visions – let them bubble up through this strategic process so ultimately you come out with a strategy that everybody has bought into and a common vision. It becomes incredibly more relevant to people because everybody understands what it is you’re trying to do. “If everybody understands where the community is trying to go, it’s far easier to keep the leadership, community and community resources pointed in the direction to achieve those goals.” That common vision helped move Montgomery forward in phase one of the Imagine a Greater Montgomery.

J. Mac Holladay

A rendering of the proposed West Montgomery redevelopment

Here’s how Holladay now describes Montgomery: “It’s a very different place,” Holladay said. “The attitudes are different. The team is working much better together now that it was back then. There’s a new spirit of partnership. Montgomery has made a great deal of progress. “You now have more assets and capacity. I would very much tell you that if we were having this conversation five years ago, I would not be talking about taking you to the next level because I didn’t think you were ready. “I think now the proof has been shown that things are changing; that you’re making positive progress.” Holladay said a second phase will be better able to tell which business sectors to focus on. Another area that will be examined is tourism because of the growth in that sector with downtown development. “You have changed the groundscape for tourism, conventions, business meetings and so forth by what you all have done over the last number of years,” Holladay said. “You have much more capacity. You have many more assets. What we’re talking about here is a very different possibility.” That “very different possibility” is because of the progress made in phase one of the Imagine a Greater Montgomery campaign. Progress has been made in each of the four goals: > Champion public education and build a competitive work force. > Strengthen the regional economy. Continued on page 26

Imagine a Greater Montgomery Goals

Champion public education and build a competitive work force Strengthen the regional economy Transform the image of Montgomery Embrace diversity and enhance leadership capacity

Continued from page 25

> Transform the image of Montgomery. > Embrace diversity and enhance leadership capacity. “I’m not sure that you ever get to Randall L. George where you want to be with any of these goals,” George said. “The first one – champion public education and build a competitive work force – honestly if you say it fast it might sound easy, but if you get into it you can see how it is a very complex and yet incredibly important objective that we have got to achieve. “We are making progress – the most meaningful progress I have seen in my career toward improving our public school system.” Some of the programs and accomplishments are: > Seven Career Academies planned and five launched in the Montgomery Public Schools’ high schools.

> The Chamber has achieved increases in statewide and local incentives. > The Chamber supports 30 annual events to maintain a close relationship with the military. > Downtown development is thriving. > The Chamber’s new and improved website and its Montgomery Business Journal have great potential to change the image of Montgomery. > The Chamber helps staff and fund Leadership Montgomery. > The Chamber’s annual Diversity Summit is quickly becoming a national event. > The Chamber supports Emerge Montgomery, a young professionals’ group. Although progress has clearly been made in each of the four goals – “they are not finished; they are not complete,” Holladay said. That’s because the strategy is never complete. Market Street Services works with Nashville, Tennessee, officials who have been conducting campaigns for 20 years.

> A new leadership training program for principals and senior central office staff.

“It absolutely goes on forever because the entire intent is to understand the wishes of our community and that’s achieved through visioning with leadership from many different sectors,” George said.

> Success in the Adequate Yearly Progress in Montgomery Public Schools.

“It’s a constant process. It’s not static. It’s dynamic – it changes all the time.” •

> A mentoring program established at five junior high schools.

> The Business Retention and Expansion program has coordinated annual trips to South Korea and the Far East to maintain and build relationships.

The Riverfront.

Montgomery Business Journal November/December 2010

Texas capital bounces back behind Opportunity Austin I, II by David Zaslawsky Austin, Texas, is now the envy of most of the metro areas across the country.

Gary Farmer

The capital of Texas ranked at or near the top on best places to live lists as well as being among the leaders in the types of categories that matter the most.

That wasn’t always the case. In case you have forgotten the dot.com bust in the early 2000s, Austin was devastated. Tens of thousands of high-paying jobs disappeared. Gary Farmer, president of Heritage Title Co. of Austin, said the city lost 38,000 jobs from 2001-2003. “It was a harsh slap in the face that we needed to get busy and come up with real programs that had real goals and objectives as opposed to being complacent as we were in the ’90s because it was relatively easy then,” said Farmer, who was chairman of Opportunity Austin I and also led Opportunity Austin II until the end of 2009. The Greater Austin Chamber of Commerce turned to Atlanta-based Market Street Services to help devise a comprehensive strategy to get the regional economy growing again. Market Street Services undertook an exhaustive four-part study that resulted in goals, objectives and how to implement the strategies of a Chamber initiative that was called Opportunity Austin I. The goals of Austin I were creating 72,000 jobs in five years – the length of the program – as well as 100 corporate relocation announcements and increasing the regional payroll by $2.9 billion. The regional business community invested $14.4 million in the five-year program and saw a spectacular return on investment. Since Opportunity Austin I was launched in January 2004, an estimated 123,400 jobs have been created and the regional payroll was increased by a stellar $5.6 billion. The program actually exceeded its job goal in the first three years and had 92 corporate relocation announcements during that same time span.

Meanwhile, one of the strategies – retaining and expanding existing businesses, which was called “Portfolio Austin,” saw 100 expansions in a three-year period. The regional economy became greatly more diverse as job growth in such high-paying sectors as wholesale trade, professional and technical services, finance, insurance and health care helped alter the area’s reliance on the high-tech industry. “From 2004-2008 – the five-year period of the campaign – we had 18.6 percent job growth and we ranked No. 1 in the country,” said Farmer, who is the scheduled keynote speaker for the Montgomery Area Chamber of Commerce’s 138th Annual Meeting on December 13. “Even if you look back today, Austin still has had more job growth on a percentage basis than any other of the 100 major metropolitan areas in the country,” Farmer said. “I think it’s a pretty good compliment to proclaim that you are the most prolific creator of jobs in America.” Now, the Chamber, working with Market Street Services, is involved in Opportunity Austin II, a $21 million campaign to create 117,000 jobs and add $10.8 billion to the regional payroll in five years. Some of the themes in the second campaign are keeping the Greater Austin area “great,” talent development, recruitment and retention and economic diversification. Because of the success of Opportunity Austin I, Farmer said that on average businesses increased their investment by 62 percent in the second campaign and most of the investors in the first campaign are investing in the second campaign. “I think these businesses saw that their bottom line was improving,” Farmer said. “Businesses of all varieties, shapes and sizes saw that the business climate had improved significantly and that their businesses were doing better.” Farmer said that Opportunity Austin I and II have been transformative programs. One of the results of the campaign is the regional cooperation. “We’re doing things that we’ve never done before. There is a real understanding that if one community in the region has an economic victory there’s a degree of uplift for all the others in the region as well.” •

Montgomery Business Journal November/December 2010

November/December 2010 Montgomery Business Journal

Guest Commentary

Community banks may benefit from financial reform act by Jimmy Stubbs

There is no question these new financial laws set a major precedent that financial policies should reflect and accommodate the differences between community banks and large, complex financial institutions. The legislation sets a legal precedent that community banks operate a banking model that is distinct from Wall Street financial companies and thus should not bear the same regulations as Wall Street mega banks.

Jimmy Stubbs After nearly two years of hearings, on July 21, 2010, President Obama signed into law The Dodd-Frank Wall Street Reform and Consumer Protection Act. The 2,300 page Act was adopted in response to the greatest financial and economic calamity to hit our country since the Great Depression. The Act, named after its principal authors, Connecticut Sen. Christopher Dodd and Massachusetts Rep. Barney Frank, gives the federal government new authority to unwind failing financial firms that may threaten the entire financial system, imposes new rules on derivatives markets and creates a consumer-protection agency at the Federal Reserve to monitor everything from home loans to credit cards.

Four key components of the Act that differentiate community banks from the big banks include: > FDIC assessments going forward will be based on bank assets rather than domestic deposits. > Large financial institutions will face higher capital and liquidity standards. > A new systemic risk council and new resolution authority was created for the largest institutions so that they are wound down instead of propped up when they fail. > The creation of the Consumer Financial Protection Bureau (CFPB). The agency will write consumer-protection rules and regulate big banks with assets above $10 billion and nonbank financial firms to ensure consumers are protected from unfair, deceptive or abusive practices. It sounds good and we certainly needed to reign in some of the crazy mortgage products that started this whole financial mess but I’m not quite ready to call this agency a plus for our customers or community banks just yet. We’ll have to wait and see how regulators interpret the new laws and begin to channel new rules and regulations. I suspect big bank product offerings will have the high probability of looking a little more plain vanilla as the government flexes its muscles with new rules on how a financial product whether it be a loan or checking account should work. Forget creativity and innovation at Bank of America! It’s quite possible River Bank & Trust and

Montgomery Business Journal November/December 2010

other community banks might benefit since we’re exempt from direct CFPB exams. Our compliance with the new CFPB regulations will be enforced by our current regulator, the FDIC. Thank goodness we don’t have another regulator to answer to! Most of our customers at River Bank & Trust have been asking: “How does the new law benefit me?” While the ultimate impact of the Act is in large part still difficult to estimate, the most obvious benefit will come from additional FDIC insurance coverage. The Federal Deposit Insurance Corp. (FDIC) deposit insurance coverage limit is permanently increased to $250,000 per individual account and a two-year extension of the FDIC’s Transaction Account Guarantee program, which provides unlimited depositinsurance coverage for non-interest-bearing transaction accounts. In addition to the FDIC coverage, the most notable change consumers and retail business customers may notice is found in the Durbin Amendment. The amendment creates new flexibility in how a merchant accepts debit and credit cards as well as new control over the rates charged. The Federal Reserve Board can now begin regulating fees to process debit cards. As a result, expect lower transaction fees if you accept debit and credit cards at your business. I’m certainly no authority on the Dodd-Frank Wall Street Reform and Consumer Protection Act. You can learn more by simply searching the Internet under the “Dodd-Frank” heading and you’ll begin to uncover what the rest of the 2,300 pages have to offer. Please give me a call at (334) 290-2700 or e-mail me at jstubbs@riverbankandtrust.com if I can help. Jimmy Stubbs is president and CEO of River Bank & Trust.

Member News

BusinessBuzz HYUNDAI FACILITY RECEIVES AWARD FOR COMMITMENT TO MINORITY SUPPLIERS MONTGOMERY - Hyundai Motor Manufacturing Alabama was named the Corporation of the Year by the South Region Minority Supplier Development Council. The award was for minority participation in Hyundai’s supply chain. “Hyundai is committed to including minority suppliers at nearly every step in the supply chain,” Chris McClain, assistant manager for minority supplier development, said in a statement. “By facilitating access to Hyundai’s purchasing community and encouraging minority contracting with first-tier suppliers, Hyundai has surpassed $142 million spent with certified minority business enterprises.” AUM’S EXERCISE SCIENCE PROGRAM RECOGNIZED BY NATIONAL GROUP MONTGOMERY – As the nation struggles with an obesity epidemic, exercise science – also known as kinesiology – has been identified as one of the fastest-growing college majors in the U.S. by Inside Higher Ed. Auburn University at Montgomery is a top training ground for this popular major, as one of only 60 programs nationwide to be named an Educationally Recognized Exercise Science

Program by the National Strength and Conditioning Association. According to the American Kinesiology Association, the number of undergraduate kinesiology majors grew 50 percent from 2003 to 2008, making it one of the fastestgrowing majors in the country. “Kinesiology,” the study of physical movement, is a term used interchangeably with “exercise science.” AUM offers an undergraduate major in exercise science, which prepares students for a career or advanced study in exercise physiology, cardiac rehabilitation, physical therapy, physician assistance, corporate fitness, health promotion, physical fitness, human performance, research, strength and conditioning and personal training. For information on AUM’s exercise science program, visit www.aum.edu or call (334) 244-3547. In another development, Auburn University and Auburn University at Montgomery have been jointly awarded an Emergency Management for Higher Education grant by the U.S. Department of Education. Public safety and emergency management officials from AU and AUM, along with the AUM Center for Government will use the funding to enhance emergency preparedness planning efforts on both campuses. The two-year

grant is for $708,471 and is one of just 17 awards given nationwide. The Auburn University system is the first in the state of Alabama to receive funding through the grant.

Central Park Apartment Homes was awarded the “Best of the Best’ overall winner by the River Region Apartment Association.

CENTRAL PARK APARTMENT HOMES AWARDED ‘BEST OF THE BEST’ MONTGOMERY - Central Park Apartment Homes was awarded the “Best of the Best’ overall winner by the River Region Apartment Association at its annual Beautification Award Ceremony. Central Park was the only River Region apartment community to win that category award. The awards were presented at the River Region Apartment Association Beautification Award Ceremony at the Breckenridge Community Clubhouse. Central Park was selected to receive the award out of 15 apartment communities. “The Central Park Apartment Homes staff is honored to have received this prestigious award,”

said Fran Fleischman, assistant vice president for Aronov Realty Management Inc., the managing agent for the community. The River Region Apartment Association Beautification Award Ceremony is an annual event that recognizes award-winning properties in the area. A total of seven judges, all professionals in the multi-family industry, visited the 15 properties that entered the competition. AT&T CONTINUES INVESTING IN ALABAMA NETWORK BIRMINGHAM - AT&T has invested nearly $200 million in wireless and wireline networks in the first six months of the year to continue improving service for customers in Alabama. Upgrades to the AT&T wireless network included new cell sites, expanded mobile broadband coverage and increased 3G capacity. The investment also included upgrades to the AT&T wireline infrastructure, such as expanded AT&T U-verse services, additional AT&T WiFi Hot Spots, and extended reach of broadband services. AT&T customers are seeing the results of this investment with faster mobile broadband speeds and strong reliability, according to the latest round of comprehensive drive testing by Global Wireless Solutions Inc. AT&T Alabama President Fred McCallum said AT&T’s

(CONTINUED ON PAGE 32)

November/December 2010 Montgomery Business Journal

BUSINESS BUZZ (CONTINUED FROM PAGE 31) local investment creates many advantages for the people of Alabama. “Our investment stimulates the economy and fosters employment for U.S. workers,” McCallum said. “We are proud of that. In fact, AT&T has invested more in the last three years in our networks than any of our U.S. competitors. That creates economic growth across the board.”

billion, which is more than that of any national brand or franchise. As an affiliate of Leading Real Estate Companies of the World, Alfa Realty can assist individuals purchasing or selling property in virtually any community in the U.S. or abroad with services including real estate assistance, destination orientation programs, move management and more. The membership also enables Alfa Realty to assist with corporate relocation accounts through RELO, the network’s third-party relocation company.

Norman Schlemmer

ALFA REALTY SELECTED AS A MEMBER OF PRESTIGIOUS GLOBAL ORGANIZATION MONTGOMERY - Alfa Realty has been selected for membership in Chicago-based Leading Real Estate Companies of the World. “Selection as an affiliate in this prestigious network represents another step in the development of Alfa Realty as the River Region’s leading real estate company,” said Alfa Realty broker Norman Schlemmer. “As part of the Leading Real Estate Companies network, we will be able to offer buyers and sellers additional services while still providing the friendly, personal touch customers have come to expect from Alfa Realty.” Alfa Realty joins Leading Real Estate Companies of the World, a global network comprised of 600 of the best-known local and regional real estate firms, with 5,000 offices and 150,000 sales associates in the U.S. and more than 30 other countries. Collectively, these firms sell almost 1 million homes annually in the U.S. valued at nearly $250 32

Jackson Thornton opened a Tallassee location, which is staffed (from left) by Ben Mustin, Rachel Turner, Linda Lee Champion, Charlotte Hart, Daniel Thompson and Dennis Fain, a Jackson Thornton principal.

JACKSON THORNTON OPENS TALLASSEE OFFICE MONTGOMERY - Jackson Thornton, a certified public accounting and consulting firm, has announced a new satellite office in Tallassee. The Tallassee office, located in the historic Gen. Birkett Fry House, provides comprehensive accounting, payroll, compliance and consulting services to a growing base of East Elmore County clients. “Jackson Thornton’s strength is personalized attention to our clients coupled with our depth of resources and experience,” said Dennis Fain, a Jackson Thornton principal. “With the opening of our Tallassee office, our team looks forward to helping even more clients achieve their business and personal goals.”

Montgomery Business Journal November/December 2010

Ned Sheffield, Jackson Thornton’s managing partner, said, “The expansion of our Elmore County reach is exciting given the recent growth the Tallassee area is experiencing. Jackson Thornton is proud to be part of the Tallassee business community.”

to assist a client here at home to expand facilities, which create jobs and adds to the success of our state.”

Robbins Taylor

Scott Bell

W.R. TAYLOR & CO. COMPLETES BOND OFFERING FOR STEEL MANUFACTURER

BELL MEDIA EXPANDS INTO INDOOR DIGITAL ADVERTISING

MONTGOMERY - W.R. Taylor & Co., LLC recently served as financial adviser and underwriter on an industrial revenue bond offering for SSAB Alabama Inc., a steel manufacturer located in Axis. Two series of bonds totaling about $160 million were issued through the Industrial Development Authority of Mobile County. Proceeds of the bonds will be used by SSAB Alabama for the building and equipping of a new plant and the expansion of an existing facility for the production of high-strength heat-treated steel plate. It is expected that the investment will create more than 100 new jobs. Robbins Taylor, president and CEO of W.R. Taylor & Co., acknowledged the invaluable support provided by the State of Alabama and the Alabama Development Office in securing the bond financing. “We manage these types of financings all over the country, but it is particularly gratifying when we get the opportunity

W.R. Taylor & Co. is a privately held investment-banking and wealth management firm with headquarters in Montgomery.

MONTGOMERY - Bell Media announced the launch of the area’s first indoor digital screen advertising network. The new network offers local and regional companies a more targeted approach to out-ofhome advertising through the use of flat-panel digital screens located throughoutMontgomery. Bell Media’s indoor digital network is comprised of 25 42-inch flat-panel digital screens strategically placed in Montgomery’s most popular and high-traffic restaurants, bars and gyms. That provides clients an advertising medium that targets “hard-to-reach” demographics at an affordable rate. In addition to running advertisements on the digital screens, Bell Media will provide news, entertainment and up-to-date weather content to entertain and inform patrons while frequenting their favorite local spots. Advertisers have the opportunity to choose which locations they would like to run their advertisements and a package that fits their (CONTINUED ON PAGE 34)

The 2010 Capital City

Christmas Parade Kick off the Season with the Capital City’s very merry Christmas Parade filled with oh-so-jolly floats and festivities. Celebrate this special season and gather with loved ones for a night that is sure to make all your Christmas dreams come true!

C a p i t a l C i t y C h r i s t m a s Pa r a d e

Friday, December 3, 2010 Parade Route from Capitol Steps to Court Square Fountain

schedule of events

5:15 pm Governor’s Tree Lighting 6:00 pm Capital City Christmas Parade 7:30 pm Mayor’s Tree Lighting

2010 float contest

Create your own Christmas masterpiece and be a part of the festivities. Entry categories include Business Floats, Floats by Adults, and Floats by Children/Youth. Registration deadline is November 29, 2010. Float staging held at Cramton Bowl.

Pa r a d e e n t ry f o r m s at w w w. m o n t g o m e r y a l . g o v F o r m o r e i n f o r m at i o n c o n tact

Carol Gunter, 334-241-2726 or cgunter@montgomeryal.gov

November/December 2010 Montgomery Business Journal

BUSINESS BUZZ (CONTINUED FROM PAGE 32) budget. Those packages start at $225 a month. “While Bell Media’s core business remains billboard advertising, we believe the ID network will complement our existing billboard inventory and expand our customer base through a range of additional pricing options and locations,” said Scott Bell, president of Bell Media. “We are very excited to bring this unique product to Montgomery.”

Office. “Many patients live at or below the poverty level due to the devastating effects of this chronic illness.” Money raised at the Walk-a-Thon helps fund the foundation’s three programs - financial assistance, education and support services – all provided free-of-charge to Alabama’s kidney patients in need.

Brandt Wright

CENTURY 21 BRANDT WRIGHT REALTY RAISES $1,200PLUS FOR EASTER SEALS

ALABAMA KIDNEY FOUNDATION RAISES $75,000-PLUS WITH WALK-A-THON MONTGOMERY – The Alabama Kidney Foundation raised more than $75,000 for its walk-a-thon. The 23rd annual “Make a Difference … One Step at a Time” Walk-a-Thon, attracted 600-plus participants. The event featured a continental breakfast, small lunch and entertainment. In addition to the door prizes, there was also a live and silent auction, a children’s area with face painting and a moonwalk, as well as a food demonstration by a local chef to engage the crowd. “Kidney disease is rampant in Alabama, particularly among African-Americans, ranking Alabama fifth in the nation for the occurrence,” said Amy Godsoe, regional director of the Alabama Kidney Foundation’s Montgomery

ONLINE COMMERCE GROUP UNVEILS NICHE WEBSITE FOR KODAK

The event begins at 6 p.m. with a silent auction and a wine tasting. The evening features chef John Melton, who will demonstrate the preparation of a three-course meal of wild game. Tickets are $100 or $1,000 for a table of 10.

MONTGOMERY - Online Commerce Group, LLC (OCG) recently released KodakOutdoors. com, a niche retail website designed specifically for hunting and fishing enthusiasts shopping for digital video cameras and accessories.

For reservations, call Jan Hargove at (334) 244-3478. TURENNE PHARMEDCO SELECTS LWT TO PROMOTE COMPANY

For information on Bell Media’s indoor digital network and a list of locations, call (334) 356-4906 or email admin@belloutdoor.com.

Amy Godsoe

& Spa at the Convention Center. The theme is “Celebrating Alabama’s Outdoors.”

MONTGOMERY - Century 21 Brandt Wright Realty Inc. raised more than $1,200 by participating in the area’s annual Easter Seals Walk With Me fundraising event. “The ‘Walk With Me’ event was a great way to engage the many families and local social organizations with Easter Seals and all of the services and resources they provide our community in an effort to support people with autism, developmental disabilities, physical disabilities and other special needs,” owner Brandt Wright said. AUM SCHOOL OF BUSINESS SCHEDULES BUSINESS GALA MONTGOMERY - The Auburn Montgomery School of Business will present the Second Annual Benefit to Business Gala on Nov. 30. The gala, which is directed by students, will be at the Renaissance Montgomery Hotel

Montgomery Business Journal November/December 2010

MONTGOMERY - Turenne PharMedCo has appointed LWT as their partner to provide strategic marketing counsel and the tactics necessary to succeed in an aggressive growth plan. “Turenne PharMedCo has quietly built a powerful story over the past 18 years,” said Cushing Phillips, director of marketing and communications for Turenne PharMedCo. “Our commitment to excellence and to the residents we serve has grown into a respected brand in Alabama and across the Southeast. We have selected LWT to partner with our company to continue writing and sharing that story, and to grow our opportunities to care and to serve.” Turenne PharMedCo is a full-line medical supply distributor, long-term care pharmacy service provider, and Medicare Part B billing agency serving the needs of long-term care facilities, assisted living facilities, home health agencies, hospice organizations, durable medical equipment providers and other residential institutions and facilities. LWT, which was founded in 1959, provides fully integrated marketing, media and interactive services.

Kodak contracted with OCG earlier this year to provide the template design, custom programming, editorial and e-commerce services for KodakOutdoors.com. This project marks the first time that Kodak has marketed its products specifically to avid outdoorsmen through a niche website. While KodakOutdoors.com is focused on retail efforts, the website has a variety of howto information and interactive features geared toward hunters and anglers. Among the features are hunting and fishing articles, printable targets, a moon phase calculator, Boone & Crockett Whitetail Deer Scoring Calculators and built-in functionality so anyone can share their outdoor videos on the website. The website’s flagship product is the Kodak Playsport Video Camera Bundle, which includes camouflage hard carrying case, Kodak Flex-Pod tripod, remote control, camouflage neck strap, 4 GB memory card and extra battery. The Playsport Video Camera features a 2-inch LCD screen that is waterproof down to 10 feet. “The idea behind KodakOutdoors.com is to take our years of expertise in creating websites for specific audiences and applying that same formula to connect hunting and fishing enthusiasts with the Kodak brand,” said Scott McGlon, OCG president and co-founder.

BUSINESS BUZZ Online Commerce Group, which was founded in 2004, is a leading niche online retailer and website development company in Montgomery.

Partners. â&#x20AC;&#x153;We intend to continue to selectively invest and, as such, grow our companyâ&#x20AC;&#x2122;s scale while emphasizing relatively low leverage and a strong balance sheet.â&#x20AC;?

Providing a safe and loving environment where students feel accepted and are challenged by educational execellence.

Blake Brazeal

SUMMIT HOUSING PARTNERS ACQUIRES THREE PROPERTIES MONTGOMERY - Summit Housing Partners announced the acquisition of three multi-family properties in Louisiana and Oklahoma. The company has acquired Longridge, a 144-unit community in Baton Rouge, La. â&#x20AC;&#x153;This property is located in an attractive and growing area of Baton Rouge and fits in nicely with our Louisiana portfolio,â&#x20AC;? said Blake Brazeal, president of Montgomery-based Summit Housing Partners. â&#x20AC;&#x153;We remain very positive for the long term outlook for Baton Rouge.â&#x20AC;? The company also acquired two properties in Tulsa, Okla. Both the communities â&#x20AC;&#x201C; Apple Creek and Inverness - are located in the attractive Broken Arrow sub-market. Apple Creek and Inverness contain 124 and 91 units, respectively. Summit Housing Partners now owns and operates 85 multifamily communities in nine states totaling about 13,500 units. â&#x20AC;&#x153;We continue to invest in areas where we see relatively strong economic development prospects, which we believe are the engine behind job growth and resulting population and household growth,â&#x20AC;? said Daniel Hughes, CEO of Summit Housing

Trinity Presbyterian School Headmaster Bob Neu (from left), Board of Trustees President Jim Edwards and Steering Committee Chairman Troy Teel gathered for a ribbon cutting and groundbreaking.

TRINITY PRESBYTERIAN SCHOOL OPENS MEDIA CENTER MONTGOMERY - Trinity Presbyterian School recently held a ribbon cutting and groundbreaking for a new media center and a lower school building. Trinity, a K-12 Christian school which is celebrating its 40th year, launched a capital campaign in the fall of 2009. The school surpassed its goal of $2 million and ultimately raised $2.2 million from 420-plus contributors. This summer, Trinity began phase one of construction - renovation of its old library into a state-of-the-art media center, including the latest technology. New construction has begun on a 10,000-square-foot lower school addition, which will include a new K-5 media center, art room and four additional classrooms. â&#x20AC;&#x153;It is obvious by the overwhelming support these projects received that the Trinity community truly loves the school,â&#x20AC;? said Headmaster Bob Neu.

6$&6 $&&5(',7(' 6&+22/ .-

t &ROOHJH 3UHSDUDWRU\ (GXFDWLRQ t 4XDOLW\ ,QVWUXFWLRQ E\ &HUWLILHG 7HDFKHUV t 3URJUDPV IRU 6SHFLDO 1HHGV 6WXGHQWV t (YHQLQJ 6FKRRO t 'LVWDQFH (GXFDWLRQ t ,QGLYLGXDOL]HG 7XWRULQJ

1(: 0XVLF 3URJUDPV DQG $WKOHWLFV

)DLUODQH 'ULYH Â&#x2021; +DUULVRQ 5RDG

ZZZ VXDFDGHP\ FRP

â&#x20AC;&#x153;I can do all things through Christ who strengthens me.â&#x20AC;? (CONTINUED ON PAGE 36)

3+,/,33,$16

November/December 2010 Montgomery Business Journal

BUSINESS BUZZ (CONTINUED FROM PAGE 35) to Montgomery Breast Center, not only do we have the advanced digital technology to find problems early, but we also offer patients same-day test results in most cases.”

Tina Hodge

Annual Mammogram Screenings Critical to Breast Cancer Awareness

Women can schedule an annual screening mammogram by calling Montgomery Breast Center at (334) 3871120. Montgomery Breast Center is a subsidiary of Montgomery Cancer Center.

MONTGOMERY – Although October was Breast Cancer Awareness Month, Montgomery Breast Center is reminding women about the importance of scheduling an annual screening mammogram during any month. “An annual screening mammogram should be a fundamental part of every woman’s overall health program,” said Tina Hodge, manager of breast imaging at the Montgomery Breast Center. “It’s even more important than a yearly physical or a regularly scheduled dental checkup.” Hodge emphasized that the mammogram procedure is quick and easy, and having it performed each year is one of the surest ways to identify breast cancer. “Not counting non-melanoma skin cancer, breast cancer is the most common cancer that affects women,” she said. “In order to detect it in its early stages, especially after age 40, a yearly mammogram is crucial.” Hodge added that mammography and clinical breast examination by a breast imaging specialist are far more sensitive than breast self-exams for finding small cancers. Regular mammograms can identify cancerous tissue up to three years before it can be felt. “Women don’t have to wait or wonder,” Hodge said. “They need to go ahead and schedule that mammogram. By coming 36

footsteps of the many great leaders, such as the Hon. Oscar W. Adams, Jr., Attorney Fred Gray, the Hon. U.W. Clemon, and Sen. Michael Figures, who have come before me and served as president of this organization.” Golston was born and raised in Birmingham, where he graduated from Huffman High School. He received a bachelor’s degree from the University of Alabama. He received his J.D. from the University of Alabama School of Law in 1998. BEASLEY ALLEN LAW FIRM SELECTED TO BEST LAW FIRMS RANKINGS

Larry Golston

GOLSTON ELECTED PRESIDENT OF STATE’S OLDEST ORGANIZATION OF BLACK ATTORNEYS MONTGOMERY – Beasley, Allen, Crow, Methvin, Portis & Miles, P.C., shareholder Larry A. Golston has been elected to lead the Alabama Lawyers Association as president. Golston, who works in Beasley Allen’s consumer fraud section, assumed the leadership role at the organization’s annual meeting. The Alabama Lawyers Association (ALA) is the oldest and largest bar association of predominantly black attorneys in the state. Established in 1971, the ALA exists to enhance the integrity of the legal profession, to improve the quality of legal services provided to the public and to protect the civil rights of the citizens of the State of Alabama. “It is with honor and humility that I become president of the Alabama Lawyers Association,” Golston said. “I am honored that such a great organization would choose me to lead it and I am humbled to follow in the

Montgomery Business Journal November/December 2010

MONTGOMERY – Beasley, Allen, Crow, Methvin, Portis & Miles, P.C. has been selected for inclusion in the 2010 Best Law Firms ranking. This is the inaugural publication of this highly anticipated national analysis, which will be compiled annually by U.S. News Media Group and Best Lawyers. Beasley Allen received a metropolitan first-tier ranking in the areas of mass tort litigation/class actions – plaintiffs, and personal injury litigation – plaintiffs. Beasley Allen also received a metropolitan tier 2 ranking for health care law in Montgomery. The rankings were featured in the October issue of U.S. News & World Report. “I’m especially pleased by these rankings, because they recognize the hard work done by everyone in this firm,” said Beasley Allen founding shareholder Jere L. Beasley. “All of our lawyers and support staff are dedicated to working hard for the folks we serve, to help them secure justice. Our motto is ‘helping those who need it most,’ and the lawyers and staff here are truly dedicated to that ideal. I’m very glad to see their efforts recognized.”

Data for the rankings was gathered through national surveys in which major clients and leading lawyers were asked to rate the law firms they consider best in their practice area. Those survey responses were combined with more than 3.1 million evaluations of individual lawyers in these firms in the most recent Best Lawyers survey of leading lawyers. In another development, the Beasley Allen law firm will present the ninth Wii gaming system in its year-long “Wii Give Back!” campaign to the Hurtsboro Library in Hurtsboro. The library will incorporate the Wii system into its after-school programs for children as well as year-round activities for senior citizens. RUSHTON, STAKELY, JOHNSTON & GARRETT RECEIVE TOP METROPOLITAN RANKINGS MONTGOMERY - Rushton, Stakely, Johnston & Garrett, P.A. received top metropolitan rankings in the first-ever U.S. News and Best Lawyers “Best Law Firms” publication. U.S. News Media Group and Best Lawyers compiled these rankings based on the results of exhaustive surveys of 9,000-plus clients and attorneys, including representatives of more than half the Fortune 1000 companies. In these surveys, clients were asked to evaluate law firms on factors such as responsiveness, understanding of legal issues, understanding of client needs, cost-effectiveness, pro-bono commitment and civility. The firm received the highest tier-1 ranking in the following areas: alternative dispute resolution, communications law, general commercial litigation, insurance law, media and first amendment law, medical malpractice – defendants, personal injury litigation

BUSINESS BUZZ –defendants, real estate law, tax law and trust and estates law. In addition to the best firm rankings, the following members of the firm have been recognized as the best lawyers in their fields: Dennis R. Bailey, Jeffrey W. Blitz, L. Peyton Chapman, Ronald G. Davenport, William I. Eskridge, James W. Garrett Jr., Richard B. Garrett, William S. Haynes, Robert A. Huffaker, James Theodore Jackson, Paul M. James, Thomas H. Keene, Daniel L. Lindsey, Patrick M. Shegon, Christopher S. Simmons, Frank J. Stakely, Fred W. Tyson, Robert C. Ward Jr. and Helen Crump Wells.

With a focus on education, The Hampstead Institute Downtown Farm offers hands-on workshops for schools and community groups across the River Region and beyond. A farmer-in-residence will be available to teach such topics as food production, nutrition and healthy living at the 2.7-acre farm. Visitors young and old are also able to observe and participate in the various stages of planting, sowing and harvesting at the Ken Groves Children’s Garden, named in honor of Montgomery’s late city planner and Hampstead Institute board member who played a significant role in the development of the city’s new downtown farm.

HAMPSTEAD INSTITUTE ANNOUNCES PLAN FOR NEW DOWNTOWN FARM

The Hampstead Institute is community-based, nonprofit organization.

MONTGOMERY - The City of Montgomery and The Hampstead Institute announced plans for an all-natural, community farm in the state’s capital.

2011 SONATA RECEIVES TOP FIVE-STAR CRASH RATING

Situated in the heart of downtown Montgomery along the Alabama River, the Hampstead Institute Downtown Farm is set to open February 2011 as a working farm that grows, harvests and sells fresh, locally grown foods. Offering production farm areas, Children’s Learning Beds, “u-pick” orchards and a working windmill the allnatural, urban farm will serve as a vibrant gathering place fostering education, sustainability, tourism and economic development for Montgomery and the River Region. “We are honored to introduce the Hampstead Institute Downtown Farm in Montgomery as part of the city’s latest education and downtown revitalization efforts,” said Harvi Sahota, designer, developer and Hampstead Institute board member. “We believe the new community farm will help connect people to one another and educate the region about healthy, local food and sustainable, responsible growth.”

YOU ROAST THE

TURKEY, WE’LL

CLEAN THE HOUSE

and everyone will be thankful.

Everyone can appreciate a thorough clean from The Maids.

FOUNTAIN VALLEY, Calif. – The 2011 Hyundai Sonata has been awarded an overall five-star crash rating from the National Highway Traffic Safety Administration. It is the government’s top ranking under the agency’s New Car Assessment Program. The Sonata is manufactured in Montgomery. Meanwhile, Hyundai Motor America announced prices for the 2011 Sonata turbo models. The manufacturer’s suggested retail price for the turbo Sonata SE is $24,145 and the price is $27,045 for the Sonata Limited. The turbo models – with 274 horsepower - are rated 33 miles per gallon on regular fuel

Call now to receive a free, no-obligation estimate

277-7749 www.MAIDS.com

SAVE-A-LOT WILL OPEN STORE IN MONTGOMERY MONTGOMERY – Save-ALot is planning to open a store on Mt. Meigs Road and during a grand-opening ceremony donate $5,000 to the Montgomery Area Food Bank.

Referred for a reason.

(CONTINUED ON PAGE 38)

November/December 2010 Montgomery Business Journal

BUSINESS BUZZ (CONTINUED FROM PAGE 37) Save-A-Lot offers quality name brand and private label groceries that are up to 40 percent less than conventional grocery store prices. Customers can save additional money by using printable grocery coupons from Save-A-Lot. The company, which has its corporate headquarters in St. Louis, Mo., has nearly 1,200 stores nationwide. AL.COM EXPANDS INTO MONTGOMERY MONTGOMERY – al.com, Alabama’s largest website with more than 2.8 million unique monthly visitors, is adding a Montgomery section at al.com/montgomery. Visitors can select a local version of al.com’s home page from five choices on the top navigation bar including Birmingham,

Cindy Martin

Huntsville, Mobile, statewide and now Montgomery. The Montgomery home page features news, sports, entertainment, videos and photos and visitor comments for the River Region. al.com will remember the visitor’s preference via ‘cookies’ and display their chosen version on return visits. Top stories for Montgomery can also be sent directly to your inbox and cell phone by signing up for enewsletters at al.com/newsletters.

Montgomery Business Journal November/December 2010

Visitors can find real-time news from all areas of the River Region, including coverage of Crimson Tide, Auburn Tigers and all college and high school sports, the Montgomery Biscuits and other Southern League teams, state government and politics, opinions, news about the town as well as reports about Autauga and Elmore counties. Visitor comments are welcomed in forums and reaction to news stories. Businesses can submit press releases and photos to make announcements such as moves, promotions and new hires in the Alabama Business Center. For those on the social media front, follow “I love Montgomery” Facebook page and alcommontgomery on Twitter. al.com is also expanding its team and recently added

Ben Flanagan and Christine Kneidinger as content producers to cover the Montgomery region. Bob Sims, director of content, is an Air Force veteran who served at Maxwell-Gunter Air Force Base, was an editor of the Prattville Progress and reporter and editor for Montgomery Advertiser. “In addition to bringing real-time news, sports and entertainment information to the residents of Montgomery, local businesses will have a new avenue to reach their customers,” said Cindy Martin, president/CEO of al.com. al.com is free of charge and offers 24/7 breaking news, video and photos from The Birmingham News, Huntsville Times, Mobile’s Press-Register and other media across the state.

BUSINESS BUZZ

Gary Soriano

David Payne

CHICK-FIL-A SATELLITE RESTAURANT WILL OPEN IN RSA TOWER MONTGOMERY – A Chickfil-A satellite restaurant will open in the RSA Tower. The restaurant, which will be open from 7 a.m.-3 p.m. Monday-Friday, will offer all the Chick-fil-A breakfast biscuits as well as the company’s signature Chick-fil-A Chicken Sandwich, Chick-fil-A Nuggets and Chick-fil-A Waffle Potato Fries. The restaurant also will have catering options. The restaurant will have 70 indoor seats, 36 outdoor seats and two overflow rooms that have 60 additional seats. Gary Soriano, a graduate of Auburn University at Montgomery who has spent the past 27 years serving as a Chick-fil-A franchise operator, will be running the satellite restaurant at 201 Monroe St. “We’re excited to open this satellite location to make it more convenient for our Chick-fil-A guests to enjoy our awardwinning menu,” said Soriano, who has won numerous awards during his career with Chick-fil-A.

Mark Lee

The medium-sized, diverse firm will continue its focus on educational, religious and governmental architecture as well as continue to offer its clients innovative, creative and functional designs that are easily constructed in high-quality buildings. The company, which has clients throughout Alabama as well as Georgia and Florida, is located in Montgomery. The firm’s website is www.paynearch.com. • To submit your business news for publication, email a press release to editor@montgomerychamber.com. Montgomery Area Chamber of Commerce Members only.

COMPANY CHANGES NAME TO PAYNE LEE AND ASSOCIATES ARCHITECTS MONTGOMERY - Partners David H. Payne and Mark E. Lee announced that the 8year-old firm of Payne and Associates Architects has changed its name to Payne Lee and Associates Architects.

November/December 2010 Montgomery Business Journal

Members on the Move AUM NAMES SENIOR DIRECTOR FOR INTERNATIONAL EDUCATION SERVICES MONTGOMERY – Auburn University at Montgomery Jacques Fuqua has hired Jacques Fuqua as senior director of the Office of International Education Services. With the addition of Fuqua, the office will take on the additional tasks of coordinating and facilitating faculty exchange programs, study abroad opportunities for students and relationship development with administrators in foreign universities. A search committee comprised of faculty, staff and students recommended Fuqua. He comes to AUM from Indiana State University, where he served as chief international officer and director of the Office of International Programs and Services. “I look forward to becoming a member of the AUM team and working with

faculty, staff and students to globalize the Montgomery campus,” Fuqua said.

of a new position at the firm’s Montgomery headquarters.

BB&T ADDS BUSINESS SERVICES OFFICER MONTGOMERY - BB&T announced that Ryan Skipper has joined the Ryan Skipper Montgomery commercial lending team as a business services officer. Ryan comes to BB&T with four years of experience in the local financial services industry. He is a graduate of Robert E. Lee High School in Montgomery and received his undergraduate degree from Auburn University.

Jason Wells

Cindy Scott

JACKSON THORNTON PROMOTES 2, CREATES NEW POSITION MONTGOMERY - Jackson Thornton has announced two promotions and the creation

Montgomery Business Journal November/December 2010

Woody Trimble

Jason B. Wells, a certified public accountant (CPA), was recently selected to become a principal in the firm. Wells joined Jackson Thornton’s business valuation and litigation consulting group in 2001 after beginning his public accounting career with Arthur Anderson. He is a certified valuation analyst; is certified in financial forensics; and accredited in business valuation.

Jackson Thornton, a certified public accounting and consulting firm, also promoted James W.

“Woody” Trimble III to senior manager. Trimble, who is a CPA, joined the firm in 2000. He works in the utilities group providing audit and consulting services to clients across the Southeast. Cindy H. Scott was named the director of marketing. Scott is responsible for overseeing marketing and public relations functions for all locations and entities of Jackson Thornton. She has worked in business development, marketing and public relations her entire career.

“We are thrilled to have them join our team,” said owner Brandt Wright. COPPERWING ANNOUNCES PROMOTION, NEW HIRES

Spencer Roeder

CENTURY 21 BRANDT WRIGHT REALTY ANNOUNCES TWO NEW REALTORS

Jan Collier

MONTGOMERY - Century 21 Brandt Wright Realty said that Jan Collier and Craig Schaid have joined its firm as Realtors. The two will specialize in real estate sales in the Tri-County area.

Craig Schaid

several major corporations with a base of worldwide customers. An award-winning designer, Roeder is a graduate of the University of Alabama at Birmingham.

Elizabeth Richards

MONTGOMERY - Copperwing has announced the promotion of Spencer Roeder to interactive motion designer as well as the addition of Elizabeth Richards as content specialist and LaurelDawn McBurney as designer.

Roeder’s responsibilities include the design and creation of animated video for the Web and other Laurel-Dawn McBurney interactive media. Copperwing has increasingly utilized his animation and editing to produce work for

Richards will write, produce and manage content for social media channels as part of Copperwing’s integrated branding programs. Richards, a former journalist for Auburn’s The Corner News and media specialist for Montgomery’s Beasley Allen law firm, most recently served as associate administrator for the Governor’s Mansion. Before joining Copperwing, McBurney served as graphic designer for Lawler Ballard Van Durand as well as for Clarity Publishing/ Student Life Ministries & Events. Her work has included design for major brands such as Smithfield Foods and Alabama Power. She has also been honored by having an invitation design selected by Real Simple Magazine for its 10th anniversary celebration. Copperwing is a creative consultancy offering design, digital media services and integrated branding.•

November/December 2010 Montgomery Business Journal

RIBBON CUTTINGS & GROUND BREAKINGS

HERE WE GROW AGAIN

American Family Care-EastChase

Carter Symone Premier Parties For Girls

Incredible Edibles, Inc.

2856 Zelda Road, Montgomery, AL 36106 334-356-0754 www.cartersymone.com Mia Mothershed-Owner Event Planner

11123 F Chantilly Parkway, Pike Road, AL 36064 334-244-8808 www.pamsincredibleedibles.com Pam Hawkins-Owner Catering Services, Rental Equipment, Wedding Planner, Event Planner

Ham and High

Harris Family Capital Management

E & M Mosaics

Down with the Pounds Health & Wellness Center

Wells Fargo Bank

J B Marketing Services, LLC

4770-C Woodmere Boulevard, Montgomery, AL 36106 334-386-3554 www.downwiththepounds.com Yolanda Williams-Owner Health & Nutrition

Cornerstone Branch 7690 Vaughn Road, Montgomery, AL 36116 www.wellsfargo.com Ivey Cumbie-Store Manager Banks

Bombay Masala

Save-A-Lot

Alabama Gazette, LLC

2570 Berryhill Road, Montgomery, AL 36117 205-421-2144 www.americanfamilycare.com Dr. Bruce Irwin Hospitals/Clinics

5251 Hampstead High Street, Unit 112 Montgomery, AL 36116, 334-239-9982 www.thehamandhigh.com Marion Saxon-General Manager Restaurants-Fine Dining

109 Eastern Boulevard, Montgomery, AL 36117 334-272-8510 www.bmasala.net Hemant Patel-Owner Restaurants-Indian

60 Commerce Street, Suite 1250, Montgomery, AL 36104 334-224-0751 www.harrisfamilycapitalmanagement.com Mike Harris-Independent Investment Advisor Financial Services, Financial Planner/Advisor

2252 Mt. Meigs Road, Montgomery, AL 36107 www.save-a-lot.com Earl Johnson-District Manager Groceries-Retail

Montgomery Business Journal November/December 2010

2822 Mallory Street, Montgomery, AL 36107 334-235-0758 www.emmosaics.com Enid Probst-Owner Tile, Ceramics & Stone

1169 Cottondale Road, Montgomery, AL 36109 334-578-2054 www.rtui.com Jennifer Bubbles Bailey-Owner Marketing/Market Research

12 East Jefferson Street, Montgomery, AL 36104 334-356-6700 Sam Adams â&#x20AC;&#x201C; Co-Publisher Loretta Grant â&#x20AC;&#x201C; Co-Publisher/Managing Editor Newspapers

New Members AccountingCertified Public Holt, McDuffee & Ramsey LLC, CPA P.O. Box 241483 334-213-0504 Timothy A. Hall CPA P.O. Box 241521 334-301-4012

Alternative Energy Southern Eco, LLC 260 Commerce Street 334-323-3390

Apartments McGehee Park Apartments 3800 Governors Drive 334-281-2835

Associations/ Non-Profit Jimmy Rane Foundation P.O. Box 40, Abbeville AL 334-585-9505 Montgomery County Bar Association P.O. Box 72 334-265-4793

Automobile Repair Services Flint’s Auto Center 3725 Mobile Highway 334-239-9924 Jim Woodham Southside Firestone 4058 Troy Highway 334-281-9810

Catering Services Academy Events & Catering 17 Coosa Street 334-567-7322

Churches/Ministries Saint James United Methodist Church 9045 Vaughn Road 334-277-3037

Coffeebreak Service/Supplies Brake Tyme Coffee 737 Oliver Road 334-279-5500

(Unless otherwise noted, all locations are in Montgomery)

Construction

Golf Management

Photographers

Avery Drywall, LLC P.O. Box 241373 334-430-1196

Honours Golf Company 1960 Stonegate Drive Birmingham, AL 205-298-0001

Paul Robertson Photography, Inc. 847 South Perry Street 334-263-0413

Health & Nutrition

Private Schools

Down with the Pounds Health & Wellness Center 4770 C Woodmere Blvd 334-386-3554

Churchill Academy Center For Learning 395 Ray Thorington Road 334-270-4225

Home Health Services

Publications

Right At HomeMontgomery Metro 4110-C Wall Street 334-517-1045

BOOM! The River Region’s 50+ Lifestage Magazine 8637 Harvest Drive 334-396-3073

Hotels/Motels

Restaurants

Jim Massey’s Cleaners 503 E. South Street 334-262-8012

Holiday Inn Express Hotel & Suites, Boyd Cooper Parkway 9250 Boyd Cooper Parkway 334-271-5516

Blue Heron Cafe 61 Bridge Street, Pike Road 334-356-1801

Jim Massey’s Cleaners 2097 Coliseum Boulevard 334-244-7892

Insurance Companies/ Services

Contractors Vickers & Smith Brick Cleaning Services 3213 Capwood Curve 334-309-7355

Crime & Trauma Scene Cleanup BiDecon P.O. Box 647, Millbrook, AL 334-202-1088

Dry Cleaners/ Laundries

Jim Massey’s Cleaners 7024 Atlanta Highway (334) 396-2153 Jim Massey’s Cleaners & Formals 1005 US 231, Troy 334-566-1962 Jim Massey’s Formalwear 7926 Vaughn Road 334-272-2850 Jim Massey’s Formalwear 2984 Carter Hill Road 334-262-8855 Jim Massey’s Tuxedo & Bridal 140 Dean Road, Auburn 334-887-8591 Jim Massey’s Tuxedo & Bridal 3201 Montgomery Highway, Dothan 334-794-2669

Employment Agencies Priority One Staffing, LLC 7007 Fulton Court 334-819-4000

Financial Planner/ Advisor Harbor Financial Services 4209 Carmichael Road 334-481-1400

State Farm Insurance, John Vermillion-Agent 8319 Crossland Loop 334-819-7260

Legal Services Attorneys

Restaurants-Deli River Deli & Market 130 Commerce Street, Suite 100

Restaurants-Indian Bombay Masala 109 Eastern Boulevard 334-272-8510

Restaurants-Southern

Beckman & Associates, LLC P.O. Box 4689 334-834-4808 Ext 111

Mamma Nem’s Casual Dining 1200 Eastern Boulevard 334-420-6262

Chip Cleveland, Attorney at Law, LLC P.O. Box 680340, Prattville, AL 334-365-6266

Retail Shops/ Distribution

H.E. Nix, Jr. Attorney at Law P.O. Box 241892 334-279-7770 Shahid & Hosea LLC 4758 Woodmere Boulevard, Suite G 334-279-5399

Mortgage/Finance First South Farm Credit of Montgomery 1401 Forest Avenue 265-265-8535

Bass Pro Shops 2553 Rocky Mount Road Prattville, AL 334-290-6400

Security Services Top Notch Security 334 5702 Worchester Drive 334-294-9594

Theatres Wetumpka Depot Players, Inc. P.O. Box 1031, Wetumpka, AL 334-868-1440

Party Services

Vending Services

Learning Through Song, LLC 3725 Everest Drive 334-277-4360

Premier Refreshment Service/Canteen 3013 Hayneville Road 334-264-7336

Younique, LLC 7936 Vaughn Road 334-239-9414

November/December 2010 Montgomery Business Journal

Economic Intel Unemployment Data

Civilian Labor Force

Unemployment Rate

Sep p 2010

Aug r 2010

Sep r 2009

Sep p 2010

Aug r 2010

Sep r 2009

Montgomery MA

168,137

167,053

164,712

9.00%

10.20%

Autauga County

24,109

23,924

23,695

8.20%

9.70%

Prattville City

15,673

15,541

15,321

6.90%

6.80%

7.90%

Elmore County

35,360

35,168

34,533

8.20%

8.30%

9.10%

Area

Lowndes County

4,783

4,793

4,823

14.60%

15.40%

18.10%

Montgomery County

103,887

103,170

101,663

9.20%

10.30%

Montgomery City

93,782

93,174

91,909

8.90%

9.00%

10.20%

Birmingham-Hoover MA

514,731

511,530

508,344

8.80%

8.90%

10.20%

Birmingham City

96,351

95,966

95,274

11.20%

11.60%

12.80%

Huntsville MA

209,450

208,355

201,050

7.20%

7.10%

7.90%

Huntsville City

92,966

92,491

89,049

7.20%

7.70%

Mobile MA

183,877

183,399

180,396

10.00%

10.20%

11.20%

Mobile City Alabama United States MA=Metropolitan Area. pPreliminary

85,561

85,464

84,211

10.10%

10.40%

11.60%

2,133,589

2,122,357

2,090,735

9.10%

9.20%

10.70%

153,854,000

154,678,000

153,617,000

9.20%

9.50%

rRevised Estimates prepared by the Alabama Department of Industrial Relations in Cooperation with the Bureau of Labor Statistics, based on 2009 benchmark.

Montgomery Metro Market Home Sales AUG 2010 Total Home Sales

JUL 2010

Month/Month % Change

AUG 2009

Year/Year % Change

Statewide AUG 2010

249

250

-0.40%

317

-21.45%

3,000

Median Selling Price

$144,450

$129,250

11.76%

$138,700

4.15%

$122,482

Average Selling Price

$151,709

$155,507

-2.44%

$153,020

-0.86%

$145,579

-7.69%

-6.67%

139

3,288

3,386

-2.89%

3,102

6.00%

41,646

JUL 2010

AUG 2009

AUG 2010

JUL 2010

AUG 2009

Average Days on Market Total Homes Listed

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

2010 Montogmery Building Starts Building Permits AUG 2010 New Construction

$3,752,600

$3,810,400

$3,905,600

Additions and AlterationsÂ

108

$3,416,600

$3,728,400

$3,992,200

Others

$250,200

$943,200

$402,800

Total

128

154

132

$7,419,400

$8,482,000

$8,300,600

Source: City of Montgomery Building Department

Building Valuations

Montgomery Business Journal November/December 2010

Hyundai Sales VEHICLE

SEPT 2010

National Retail Sales SEPT 2009

YTD 2010

4,885

4,864

39,767

55,525

Sonata

20,639

7,898

149,123

93,575

Elantra Tiburon Santa Fe Azera Tucson

10,062 0

7,513 37

101,022

82,706

7,010

60,829

58,067

299

339

2,439

2,932

1,583

29,460

12,772

Entourage

3,423

Veracruz

992

574

6,088

8,704

Genesys Total

3,230 46,556

1,665 31,511

21,319 410,047

Wal-Mart

Sears

Sam’s Club

Costco

Source: Hyundai Motor America

Family Dollar

Dollar General

Airline Fares

Kroger

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

Supervalu

Destination

Montgomery

Birmingham

Atlanta

Baltimore (BWI)

$212

$198

$138

Boston (BOS)

$206

$196

$182

Charlotte, NC (CLT)

$108

Chicago (ORD)

$213

$254

$153

Cincinnati (CVG)

$244

$169

$168

Dallas/Ft Worth (DFW)

$244

$224

$193

Denver (DEN)

$313

$344

$228

Detroit (DTW)

$228

$254

$153

Houston (HOU)

$340

$265

$173

Indianapolis (IND)

$193

$186

$133

Las Vegas (LAS)

$377

$330

$283

Los Angeles (LAX)

$320

$261

$253

Memphis (MEM)

$346

$302

$113

Miami (MIA)

$193

$208

$138

Nashville (BNA)

$238

$138

$220

New Orleans (MSY)

$278

$158

$141

New York (JFK)

$238

$270

$178

Orlando (MCO)

$198

$188

$138

Philadelphia (PHL)

$236

$143

Pittsburgh (PIT)

$213

$153

St Louis (STL)

$203

$138

$148

Seattle (SEA)

$347

$328

$288

$1,286

$1,155

Tampa (TPA)

$258

$178

$138

Washington DC (DCA)

$253

$234

$193

Seoul, Korea (SEL)

Best Buy

Home Depot

Lowe’s

Staples

Macy’s

JCPenney

Kohl’s

Gap

CVS

Rite Aid

Walgreens

AutoZone

-1.5%

2010

2.0%

1.8%

2009

-6.5%

-2.9%

2010

-2.2%

2009

-8.6%

2010

1.0%

2009

0.6%

2010

2009

-2%

Date of travel: Nov. 30-Dec. 5 2010. Date of pricing: Oct. 10, 2010. Source: travelocity.com

Burger King

Wendy’s

Arby’s

3% 6.1%

2009

1.0%

2010

5.1%

2009

8.6%

2010

2009

2010

-7.2%

2009

-3.2%

2010

-0.1%

2009

-3.9%

2010

1.0%

2009

-8.5%

2010

1.6%

2009

-9.5%

2010

2009

-5%

2010

7.3%

4.3%

2009

-10.7%

-8.1%

2010

-0.6%

2.3%

2009

-12.3%

-7.9%

2010

4.6%

4.5%

-2.3%

-1.4%

2009

0.4%

0.2%

2010

-6.0%

-1.0%

2009

-9.0%

-7.0%

-8.0%

2010

2.1%

5.5%

2009

6.1%

2010

-1.1%

-1.0%

-0.9%

2009

-0.6%

-1.9%

0.3%

2010

0.4%

2.1%

1.5%

2009

2.0%

1.9%

2.4% 6.7%

2009

McDonald’s

-1.7%

2010

Advance Auto Parts

September

-1.8%

2009 Target

15,934 342,217

August

2010

8,579

3,719

2,730

July

YTD 2009

Accent

(Monthly and Quarterly)

5.4%

2010

5.8%

2009

4.8%

2010

5.7%

2009

2.6%

4.6% 1.7%

2010

-1.5%

2009

-4.5%

2010

-1.7%

2009

-0.4%

2010

-7.4%

2009

-6.9%

U.S. same store sales compiled from 10-Q and 10-K forms (excluding fuel sales). Source: RetailerDaily.com

November/December 2010 Montgomery Business Journal

Quarterly Reports Name Best Buy CBRL (Cracker Barrel) Toys R Us Menâ&#x20AC;&#x2122;s Wearhouse

Quarterly Revenues

Net Income

Earnings Per Share

Earnings Estimate

Year-ago Revenues

Year-ago Net Income

Notable

$11.3B

$254M

$0.60

$0.44

$11B

$158M

Profit jumped 60%

$612.5M

$27.4M

$1.14

$1.12

$595.6M

$22.8M

Revenue up 3%

$2.6B

(-$14M)

(-$0.29)

N/A

$2.6B

$27M

Added 21 international locations in the quarter

$537M

$42.5M

$0.80

$0.77

N/A

$39.5M

Talbots

$300.7M

$941,000

$0.01

$0.05

$304.6M

(-$24.5M)

Ulta

$321.8M

$13.1M

$0.22

0.18

$273.5M

$5.8M

Revenue increased 17.6%

Dress Barn

$710.9M

$42M

$0.52

$0.49

$398.9M

$25.6M

Revenue surged 78%

Bed, Bath & Beyond

$2.1B

$181.8M

$0.70

$0.63

$1.9B

$135.5M

Profit increased 34%

Rite Aid

$6.2B

(-$199.3M)

(-$0.23)

(-$0.16)

$6.3B

(-$120.4M)

Refinancing costs added 5 cents to earnings per share loss

AutoZone

$2.5B

$268.9M

$5.66

$5.44

$2.3B

$236.1M

Opened 80 stores in the quarter

Zale Corp.

$345M

(-$28.5M)

(-$0.89)

(-$1.21)

$357.1M

(-$89.8M)

Reduced selling, general and administrative expenses by 5%

Finish Line

$301.1M

$16.8M

$0.31

$0.36

$298.7M

(-$874,000)

Walgreens

$16.9B

$470M

$0.49

$0.44

$15.7B

$436M

Profit rose 8%

$2B

$74M

$0.56

$0.51

$1.8B

$60.1M

Profit increased 23%

Costco

$24.1B

$432M

$0.97

$0.95

$22.4B

$374M

Revenue for same international stores open at least one year increased 14%

Marriott International

$2.6B

$83M

$0.23

$0.22

$2.5B

(-$466M)

$302.6M

$12.4M

$0.19

$0.16

$300.6M

$6.1M

Family Dollar

Ruby Tuesdayâ&#x20AC;&#x2122;s

Revenue rose 2.1% Cut costs and returned to profit

Ended quarter with no interest-bearing debt

Added 32 properties and 5,000plus rooms in the quarter Revenue at companyowned stores up 1.2%

Source: PR Newswire and Charles Schwab wire services

Montgomery Regional Airport SEPT 2010

SEPT 2009

Year over Year % Change

YTD 2010

YTD 2009

Year over Year % Change

Air Carrier Operations

1,113

980

13.6%

9,514

8,490

12.1%

Total Operations

6,206

5,011

23.8%

53,466

50,785

5.3%

Enplanements

17,084

14,276

19.7%

139,120

116,711

19.2%

Deplanements

16,337

14,157

15.4%

139,390

117,987

18.1%

Total Passengers

33,421

28,433

17.5%

278,510

234,698

18.7%

SEPT 2010

SEPT 2009

Year over Year % Change

YTD 2010

YTD 2009

Year over Year % Change

Montgomery County

$2,988,779

$3,126,963

-4.42%

$28,585,749

$28,750,280

-0.57%

City of Montgomery

$7,046,148

$6,693,481

5.27%

$65,323,731

$63,538,433

2.81%

Pike Road

$167,680

$174,005

-3.63%

$1,450,752

$1,113,605

30.28%

Autauga County

$543,640

$527,799

3.00%

$5,333,873

$5,349,127

-0.29%

$1,050,945

$1,009,065

4.15%

$10,691,945

$10,193,724

4.89%

Source: Montgomery Regional Airport (MGM) Dannelly Field

Sales Tax Collections

Prattville Elmore County

Wetumpka

$442,071

$414,576

6.63%

$4,074,484

$4,137,095

-1.51%

Millbrook

$420,301

$390,816

7.54%

$4,066,130

$3,779,991

7.57%

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.

Montgomery Business Journal November/December 2010

([ T`(:< `V\ JHU IL HU`[OPUN `V\ ^HU[ [V IL PM `V\ ^VYR OHYK HUK ILSPL]L PU `V\YZLSM ¹ 1HTHS 9HUKHSS c 4VU[NVTLY` c 7O`ZPJHS ;OLYHW`

0 JOVZL T`(:< MVY [OL X\HSP[` VM P[Z I\ZPULZZ WYVNYHT 0[»Z ZPTWS` ^VYSK JSHZZ ¹ ;VKK /\[JOPZVU c *HUHKH c 4HYRL[PUN

(SHIHTH :[H[L <UP]LYZP[` PZ H THNUL[ MVY [OL `V\UN HUK HTIP[PV\Z WYV]PKPUN [OL 4VU[NVTLY` I\ZPULZZ JVTT\UP[` ^P[O H YPJO ZV\YJL VM SVJHS [HSLU[ -PUK V\[ TVYL HIV\[ [OL .YHK\H[PUN *SHZZ VM *HSS

10ASU0000-10 Chamber Ad.indd 1

10/8/10 11:28 AM

November/December 2010 Montgomery Business Journal

Post Office Box 79 Montgomery, AL 36101