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Keeping you informed and inspired. VOLUME 2 • ISSUE 7

July 2019

RETAIL COVER STORY

Lumberjacks, Flannel RibbonCutting Mark Rainy Opening of Duluth Trading Co.

Page 12

Duluth Trading Co., known for its durable, high-quality apparel and iconic TV commercials, opened its first Alabama store last month, By Kimberly Ballard - Page 4

DEVELOPMENT

Hays Farm Plan is Grabbing the Public’s Attention

Now that developers have shared some details on the 850-acre, multifaceted development of Hays Farm the public is starting to weigh in. By Jonathon Stinson - Page 14

ADDITIONAL STORIES • Ribbon Is Cut On the ‘New’ Bevilacqua Research Corporation By Mike Easterling • Page 6

• Despite Remington Money Woes and Furloughs, City Incentives are Protected

By Jonathon Stinson • Page 9

• AAA Ratings Prove Huntsville Is Still Region’s Economic Engine By Kimberly Ballard • Page 17

• Alana Parker of Rocket City Drywall Wears Many Hats

Photography by Eric Schultz

By Lori J. Connors • Page 18

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HUNTSVILLE

BUSINESS JOURNAL Vol 2, Issue 7 July 2019 600 Boulevard South Suite 104 Huntsville, AL 35802

Huntsville BUSINESS JOURNAL

FROM THE EDITOR’S DESK

South Huntsville Branding Provides a Spark to North Huntsville I invite you to read Mike Easterling’s story on Huntsville City Council President Devyn Keith in this month’s Huntsville Business Journal. Keith, in his first term representing District 1 on the city’s northside, is taking on a task of epic proportion. Raised in the Northwoods section, Keith is no stranger to the need for an economic rebirth in north Huntsville. He is striving to change the image of north Huntsville to make it a better and desirable place to live, work, play and shop. Keith has helped organize the North Huntsville Business Association and it will be housed in the shopping center at the intersection of the Parkway and Oakwood Avenue. Among the projects on the horizon for north Huntsville is a new Parkway overpass for Mastin Lake Road.

And, with the help of the city, abandoned buildings are being razed and opportunity is knocking. Meanwhile on the south side of the Rocket City, that part of town is undergoing a renaissance of its own. Even the South Huntsville Business Association, a model for the city, wasn’t left out. In fact, the organization is now known as South Huntsville Main Business Association. The “Main” is from the Main Street Alabama project that is helping transform south Huntsville from a throughway to a destination. South Huntsville has a logo and a slogan that was conceived by Main

Subsidiary of EVENT Publishing

Street Alabama, a nonprofit organization that uses a national model with a 40-year track record of revitalizing downtowns and neighborhoods. The logo is a compass-like symbol with the “south” direction a contrasting color. “Our direction points home” is the slogan. The color scheme salutes the mountains, water and Grissom High School. Residents are excited about the branding and the identity of the community. And, of course, merchandise, including caps, shirts and coffee mugs, will be available. Look for the new South Huntsville and, in the meantime, experience the rebirth of North Huntsville. You’ll be glad to be a part of history. u (Bud McLaughlin is editor of the Huntsville Business Journal. He joins Fred Holland every Wednesday at 6:30 a.m. on WTKI-FM 105.3 and AM-1450)

Publisher/President ……… Todd Stephenson Editor ………………………… Bud McLaughlin Writers………………………… Kimberly Ballard Lori J. Connors Mike Easterling Jonathan Stinson Contributing Writers…………… Zack Childress Jim Owens Brent Saba Graphic Design ………………… Justina Simon Website……………………………… Jim Gharib Photographers…………………… Steve Babin Kimberly Ballard Eric Schultz Justina Simon Director of Sales ……… Carolyn Stephenson Distribution……………………… Glenda Mace Huntsville Business Journal is published monthly by EVENT Publishing, PO Box 14219, Huntsville, AL 35815. For advertising information call 256.533.8078, e-mail todd@eventhuntsville.com, or visit us on the web at www.huntsvillebusinessjournal.com. For editorial information contact editor@huntsvillebusinessjournal.com ALL CONTENTS ©2018. ALL RIGHTS RESERVED. REPRODUCTION OR USE IN WHOLE OR IN PART OF THE CONTENTS WITHOUT THE PRIOR WRITTEN PERMISSION OF THE PUBLISHER IS PROHIBITED. HUNTSVILLE BUSINESS JOURNAL IS A REGISTERED TRADEMARK OF EVENT PUBLISHING. ALL RIGHTS RESERVED. UNSOLICITED PHOTOGRAPHS OR ARTICLES ARE SUBMITTED AT THE RISK OF THE PHOTOGRAPHER OR AUTHOR. EVENT PUBLISHING ASSUMES NO LIABILITY FOR THE RETURN OF ANY UNSOLICITED MATERIALS AND MAY USE THEM AT ITS DISCRETION.

How many hats are you wearing today? I’m guessing quite a few…

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Please visit www.leveragedleaders.com/calendar to schedule a consultative call

July 2019

REAL ESTATE - ZACK CHILDRESS

Should You Self-Manage Your Rental Properties? If you’re like most investors, you wanted to create extra income. Whether that was to pay off some bills or to build a savings to set a retirement in place for yourself because maybe your job isn’t going to give you the retirement plan you want. Or maybe a reason you want to buy rental properties is to replace your income so that you can leave your job. There are lots of reasons why people lean into buying rental properties because everyone’s different. And the outcome is for the purpose of that individual person. There are a lot of benefits with rental properties, such as tax advantages. Another big reason is for legacy. We want to be able to pass down to our children: something that we didn’t have or something to give them a good start or maybe just to help them a little bit with some income. But did you buy rental properties to manage them or did you buy rental properties to create cash flow off them? If we are trying to buy rental properties and manage them, this can be a big headache. When it comes to managing rental properties, cash flow is what we want. This is why we buy rentals - the cash flow. We don’t buy rental properties to create another job for ourselves. And this is where I lean into management because sometimes we think, “oh, I’ll self-manage it” without understanding the outcome or all that goes into managing properties. So, to be truly focused on cash flow, we need to take a step back and let management take over. Don’t let cash flow take over your life. Sometimes we think too small and we count pennies and we lose focus on the overall goal. Yes, management charges a fee but it is well worth that fee. If you’re running your numbers and you think about this fee as lost revenue, you’re really looking at it wrong. Because, for what management charges - 8, 10, 12 percent of gross rents, we’re only talking about $50 a month; sometimes it’s $70,

sometimes it can be $100 but this goes back to when we run our numbers. The fee helps you enjoy your life and it allows you to stay focused on finding more rentals and focused on really what you’re trying to do with a rental portfolio, which is manage it and not each property as you build. When should we self-manage our rental properties? I get this question a lot as the president of the Madison County Real Estate Investors Association and my answer is, if you’re just starting out and you bought a little singlefamily residence, then sure, try it out. See what it’s like to manage. You’ll find the tenant, you’ll need to do the tenant’s screening, collect rents, deal with all the phone calls. Then you can see if that’s what you want to do. Most cases, you won’t have time for it or you just won’t like it if you do. If you’re holding several rentals, don’t do it. Put management in place because the next thing you’re going to find out is you’re running around chasing tenants, trying to collect rents. Sometimes you have to self-manage when you bought the property wrong or got a bad loan on it and it can’t cash flow with property management in place. In that scenario, you would have to come back to self-management, but this goes back to running your numbers to make sure that you can afford property management when you’re looking at the deal to buy it. What are the benefits of having a

management company? This could be a 50-page book by itself. There are so many reasons that you should have management in place. Let’s just start off with the first one: safety. Safety for yourself and safety for the tenants. Management companies have to follow state laws. Sometimes, as a landlord you may not know those laws and so you might be violating your tenant’s rights. You might be doing things that aren’t safe or not legal and therefore you could get in trouble for that. The other reasons are finding tenants and screening them. Do you have the time for that? Probably not. Management is also there to deal with all the calls from tenants as your portfolio builds. You’ll be surprised at the phone calls. They call for all kinds of reasons such as a leaky faucet or toilet’s clogged, or their door won’t shut all the way. Management handles all that. Collecting rents or even chasing rents down when someone is late - these are all cases of what management can do. There’s the eviction process and dealing with that, even if you have to go to court to get them out. Other jobs include scheduling repair work and putting together monthly reports for the rentals for accounting and bookkeeping. It’s like having a partner who does all the work that you don’t want to do. These are just some of the benefits of a management company and, as you can tell, it’s well worth having them in place versus self-management.

How do management companies work? Most management companies in our area work where you bring them the property and they step in and take over. They’ll collect your rents for you and deposit them or write you a check to your bank account. They will give you a profit and loss statement on your rental properties each month, so you know what’s going on. They charge anywhere from 8 to 12 percent on collected rents, which means their goal is to collect as much rent as possible each month and to help you increase rents so that they can make more on their service fees. Now, why can real estate investing be easy? Well, when we look at real estate, yes, it comes with risk. And yes, it can be hard, but in most cases when real estate starts to become easier is when we have the right team to help you run and manage your rental and your investment business. Management companies are key to making real estate investing easy for yourself when it comes to rentals so that you don’t have to deal with it any of the headaches. Check out our vendor list at www. MadisonCountyREIA.com for management companies who are helping investors in this area. You can also come to one of our meetings and meet some of our vendors, including property management companies. Get to know them to see how they could benefit and how they could be part of your team. If you’d like to come out to one of our meetings, visit www.JoinOurNextMeeting.com for information. u

Zack Childress is the president of the Madison County Real Estate Investors Association and has been an investor for nearly two decades. The Madison County REIA meets monthly. Visit www.JoinOurNextMeeting.com.

Huntsville BUSINESS JOURNAL

RETAIL By Kimberly Ballard / Lumberjacks, Flannel Ribbon-Cutting Photography by Mark Rainy Opening of Duluth Trading Co. Justina Simon

“In spite of the intermittent drizMADISON — Duluth Trading Co., known for its durable, zle, we had a steady flow of customers throughout the day and we had a lot high-quality apparel and iconic TV commercials, opened its first Ala- of people telling us how excited they bama store last month, Lumberjack, Nick Hastedt, saws through a log in weather befitting the company’s products. Despite the rain, local dignitaries and excited patrons gathered in front of the store for the cutting of a flannel ribbon, followed by Timberworks traveling Lumberjack Show. “We had a lot of people ask us whether the rain put a damper on our grand opening, but actually, bad weather fits our brand for practical, functional clothing,” said store manager Christopher Sailor. “Our customers will tell you a little rain never slows us down or affects the enthusiasm our customers have for our merchandise.

to the loyal and hard-working Duluth customers in the area.” Perched on a side street carved out of Graphics Drive and appropriately named Angry Beaver Way, the Duluth Trading Co. store is the first of many retail tenants to open on the old Intergraph campus section of Town Madison. In addition to the large and enthusiastic customer base Duluth has here, Sailor said the location near the new Rocket City Trash Pandas baseball stadium is part of a broader regional draw for the store. “Our new neighbors and visitors [across North Alabama and Tennessee] can depend on quality, unique products and a retail experience that puts customer service first,” he said. “Duluth is known for its high-quality, solution-based casual wear and workwear for men and women, but in addition to apparel, we also carry travel bags, dog gear, apothecary and more. “We bring humor to every day universal truths and offer an outstanding customer experience, which really sets us apart.” u

were to have a Duluth Trading Company store here in the Valley.” The Minnesota-based company was founded in 1989 as a catalog and, later, successful Lumberjack, Andrew O’Connell, throwing an axe Internet-only retailer. They began selectively opening stores in 2016 and today have 54 stores across the U.S. Though the store at Town Madison is the first in the state, Sailor said Duluth Trading already has a large concentration of customers in the area. “Customer demand brought us to the Madison area,” he said “Madison is an expanding research, technology and hightech manufacturing center, which fits Duluth’s solution-based culture and products. “We’re very excited to bring our unique retail experience, apparel and accessories

July 2019

TRAVEL / LEISURE

Ditto Landing Launches New Concepts, Programs

It’s summertime, when most north Alabamians reignite their love affair with the great outdoors. For many, this will involve being close to the water. As some head south for the sandy shoreline; those “staycationing” will plan their adventures around the local bodies of water. One place that comes to mind is Ditto Landing. What do most people associate with Ditto Landing? Water sports?

Boating? Well, yes, it’s that and a whole lot more than just a boat launch. There are campsites, a nature trail, and host of special summer events. As part of the South Huntsville Main Street program, Ditto is on an upward growth trajectory. Brandi Quick, now in her third year as executive director, is re-establishing Ditto Landing as a recreation destination. “I’ve been able to bring awareness.” says Quick. “People will tell me, ‘I used to come down,’ or ‘I’ve never been here before, it’s my first time.’ ” To meet the needs of the growing community, Ditto has plans for expansion over the next few years. Along with a new entryway, there will be 40 additional campsites and an enhanced nature trail loop, which will seamlessly connect South Huntsville to Ditto Landing. “The westbound Aldridge Creek bridge trail will go under the parkway and extend to the Land Trust trails,

connecting it to the new Grissom greenway,” said Quick. “In doing so, it will create an extensive South Huntsville to Ditto loop. “The bike trails are a hit. Blevins Bicycle Shop hosts a Sunset Ride – they leave Blevins and make their way here. Matt Blevins makes it easy for anyone at any level to ride.” Some people just walk the trails and enjoy the view. There’s art along the Tennessee River Greenway: A trio of “Spaces” Sculptures, as part of a partnership with Arts Huntsville. Despite the flooding from early this year, Ditto is back on track and is going full steam ahead. “In February and March, the water was 15 feet higher than it is now,” said Quick. “We were closed for five weeks. That really set us back. “Once the water receded, there was three inches of mud on every surface. It took another three to four weeks for cleanup.” Quick credits the county and city

By Lori J. Connors

with assisting Ditto in the clean-up, a team effort that expedited reopening. Madison County Boat Harbor is also the process of a major improvement. It’s a $400,000 project that includes dredging the harbor, replacing the dock, and relocating the entryway. “We still need the TVA permit and have applied for the Land Water Conservation grant,” said Quick. “I will know by November if the grant is approved. They’re still asking me questions; I think that’s a good sign.” u

The POWER of COLLABORATION Adaptive reuse sees potential beyond its original purpose. Stovehouse realizes the potential of an old, disused factory into a community space for restaurants, retail, office and entertainment in West Huntsville, Alabama.

CREATIVITY Innovative investors Danny and Patti Yancy pulled from over 30 years of project development experience and business know-how to develop Stovehouse from a concept into a plan.

EXPERTISE Joe Still Building Company applied their collaborative approach to project planning and management, and their network of relationships built with thousands of subcontractors and suppliers to make the plan a reality.

HORSEPOWER Bank Independent utilized over 70 years of experience, backed by the financial management of over $1.5 billion in assets and the expertise of our team led by Area President Tim Singleton, providing the financial strength to ensure the project ran smoothly.

Business banking at its best. Bank Independent. DANNY YANCY

PATTI YANCY

TIM SINGLETON

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Huntsville BUSINESS JOURNAL

TECHNOLOGY

Ribbon Is Cut On the ‘New’ Bevilacqua Research Corporation

Dr. Andy Bevilacqua spent many of his formative years in Europe and Asia as an Army brat son of a master sergeant. His family landed in St. Peters-

burg, Fla., where he graduated from high school, the fourth one he attended. In all, he darkened the doors of 17 schoolhouses. At the age of 17, he volunteered

By Mike Easterling / Photography by Steve Babin

the nation’s companies in its field, which includes the likes of Boeing, and Bevilacqua said his firm is now seeking “partners or investors.” BCR, a Service Disabled Veteran Owned Small Business, develops technology and engineering for the Department of Defense and NASA, among other federal agencies. BRC trumpets itself a leader in research, development, test and evaluation in fields including: Artificial Intelligence; human cognition and machine learning; cyber security; and intelligence and reconnaissance. Like many veterans of Vietnam, Bevilacqua left the war but brought some of it back home. At one shop, the notorious defoliant Agent Orange was sprayed around the perimeter. The soldiers unwittingly used the empty cans to store not only things such as acid but also soda. “Years later, myself and others in those shops learned we had Parkinson’s disease,” he said. “In 2013 when I found out I had Parkinson’s, I enrolled in college and got a PhD in cognitive psychology.” Of the high-tech innovations BRC had on display at its ribboncutting, was one item that particularly pleases the docPictured L to R: CEO Andy Bevilacqua, tor -- a wired COO “Buck” Buchanan, Chamber Chair Kim Caudle Lewis hard hat with glasses that can noon. This was about celebrating a leap forward in innovative technology enhance cognitive processes, or a cogfor a company that has been in busi- nitive load device. “I have a cousin with a son who ness for 27 years on Corporate Drive has autistic spectrum disorder and my just off Wynn. cousin is excited about it,” Bevilacqua “It’s a new BRC,” Bevilacqua said. said. “I have Parkinson’s -- I think it’s “Now that the patents are out, we’re going to start letting people know going to really help with Parkinson’s. “We’re so excited about some of what we’ve got. We’re really excited the technology that we have, I think, about what we can do.” can literally change the world.” u BRC says it ranks 30th among for the Air Force and volunteered to go to Vietnam a year later in 1972. He arrived in Da Nang an aircraft technician, was later sent to Koran, Thailand, and after returning to the U.S., earned bachelor’s and master’s degrees in physics. Bevilacqua has seen his share of the world. Now, he wants the world to see what he and his colleagues at Bevilacqua Research Corporation are doing. “We’ve been a quiet company for so long, and we felt it was time to let everyone know who we are,” he said during a recent ribbon-cutting ceremony. “We now have the patents to do it.” Ribbon-cuttings aren’t unusual in Huntsville these days given the city’s growth. But the company’s namesake and employees at BRC put a new twist on the standard photo opportunity. There were no bulldozers filling the background, no shovels and hard hats for props on a hot June after-

July 2019

FINANCE

SmartAsset Study Ranks Huntsville 4th in Career Opportunities The city of Huntsville is no stranger to high rankings that list top places to live in the country, and SmartAsset’s fifth annual report is no exception. Huntsville ranked No. 4 of the 355 cities that were studied regarding career opportunities. Housing costs, median income and support networks also factored into determining the best cities for people looking to grow or even start their careers. “We’ve been doing the study since 2015 and Huntsville has steadily been rising,’’ said AJ Smith, vice president of financial education at New York-based SmartAsset, who spearheaded the research.

Pictured: AJ Smith, Vice President of Financial Education at SmartAsset

SmartAsset is a financial technology company that Smith said “helps people make smarter financial decisions.’’ Part of making those decisions, she said, is finding the right place to live regarding career opportunities, which can lead to financial security and preparing for retirement. The company’s

website, SmartAsset.com, offers calculators to help with financial matters and counselors available for planning. “We help people figure out where they want to be,’’ Smith said. Huntsville fared well with the 12th-highest, early-to-late-stage income growth among the cities studied and had the third-lowest among the top 10 in annual housing costs at just $9,768. The city didn’t show as well in the number of career counselors column with just 1.41 per 1,000 workers, second-lowest among the top 10. Huntsville was ranked behind Provo, Utah; Logan, Utah; and College Station, Texas. Following Huntsville were Boulder, Colo.; Springfield, Mass.; Ames, Iowa; Tallahassee, Fla.; Fort Collins, Colo.; and Springfield, Mo. Below are the seven metrics used to collect data for the study: • Unemployment rate. Data comes from the Bureau of Labor Statistics and is for February 2019. • Change in total employment from 2018-2019. This figure shows the percentage change in total employment in a city. Data is from the Bureau of Labor Statistics and is from February 2018 to February 2019. • Median income. The annual median income of all workers. Data comes from the Bureau of Labor Statistics and is from 2018. • Income growth over time. This is the percentage change in median income for households where the head of household was between the ages of 25 and 44 compared to households where the head of household was between 54 and 64. Data comes from the Census Bureau’s 2017 5-year American Community Survey. • Annual median housing costs. Data comes from

By Mike Easterling

the Census Bureau’s 2017 5-Year American Community Survey. • Number of career counselors per 1,000 workers. Data comes from the Bureau of Labor Statistics and is for 2018. • Number of post-secondary teachers per 1,000 workers. Data comes from the Bureau of Labor Statistics and is for 2018. The cities that did well on this list aren’t huge towns like New York and Los Angeles, but smaller cities. SmartAsset will release an updated list in 2020. “Huntsville was fifth last year,” Smith said. “We’ll see if Huntsville keeps rising.” u

Huntsville BUSINESS JOURNAL

MANUFACTURING

Technology Changing the Way Factories Are Operated

Attendees at the SME-NDIA 2nd Annual Technology Interchange Symposium

It’s a great time to be in manufacturing and Huntsville is quickly becoming the pre-eminent manufacturing hub of the South.

Advancements in technology promise to deliver solid returns on investment while realizing cost savings over the long haul.

As technology continues its rapid growth and development trajectory, the shop floors are becoming “smart factories” to meet demands for high quality, low cost, and speed. The Society of Manufacturing Engineers and the National Defense Industrial Association Manufacturing Division recently hosted their Technology Interchange Symposium at Shelby Hall at UAH. Leaders in industry, academia, and government met and discussed the new manufacturing technologies, the impact advance technology has on manufacturing, and how these new technologies can benefit and serve the needs of the warfighter. Modern-day production facilities bear little resemblance to the factories of our parents or grandparents. For a manufacturing plant embracing new technology, the highest costs are faced on the front end: acquisition, transition, training, and implementing. This is usually the sticking point when it comes to adopting new technology, especially when companies have been working with Lean and Six Sigma methodologies, with some measure of success. To address this resistance, James Crean, CEO of Crean Innovation, an Austin-based company discussed the importance of industry disruption in his presentation “Merging Business Process Evolution with Smart Factory (Industry 4.0).” “Innovation matters and it has a big impact,” said Crean. “Hoping that it doesn’t happen is not a solution.” Crean cited several former industry giants, such as Sears and Kodak and “failure to capitalize on the online revolution, combined

By Lori J. Connors / Photography by Steve Babin

with the inability to innovate processes and service offerings caused them to fail.” Some, like the United States Postal Service, he said, “literally need an act of Congress to innovate.” Crean discussed the business life cycle and need for innovation and continuous improvement. “Company mortality is accelerating the growth-peak-decline cycle; the average business lifecycle is now 7 to 10 years,” said Crean. “This negatively impacts the supply chain, such as acquiring parts, for example. If a business doesn’t make innovation a part of their business plan, they risk extinction. “Are they even going to be in business in five years? “Continuous improvement must continuously evolve,” said Crean. “Digital transformation cannot be ignored; companies and their suppliers must not fall behind. Lean programs are no longer sufficient. Six Sigma can only take us so far. In fact, we’re getting left behind.” And it’s not just companies, it’s countries, as well. “Back in the ‘70s, Japan started eating our lunch in the auto and electronics industries,” said Crean. “Then, the Chinese entered the electronics market with faster and cheaper products. Japan failed to adopt driver assist, now the Chinese are the industry leaders.” He said, “Product is good, but process is just as important. Smart factory goes beyond the factory floor. You can’t focus on the factory floor alone. America must lead the Smart Factory transformation. We have to disrupt ourselves. If we don’t do it, China or another country will. “As a national security imperative, it is critical that the U.S. lead the global industrial base. The countries with a smart factory base will dominate the defense markets.” u

July 2019

MANUFACTURING

Despite Remington Money Woes and Furloughs, Incentives are Protected By Jonathan Stinson

It’s too early to tell how or if Remington’s recent furloughs will affect its agreement with the city of Huntsville, according to city officials. June 3 marked the first day of about a two-month furlough for about 200 workers at the Remington plant in Huntsville. Workers are expected to return in mid-August. Following the company’s emergence from Chapter 11 bankruptcy last year, which saw $775 million in debt converted to equity and the company receive $193 million in a new lending package funded by seven banks, the city of Huntsville renegotiated the original incentive package that was put in place when Remington decided to move here. Last November, the city council approved a new deal that gave Remington an extra three years to meet its objective of employing 1,868 employees or the company forfeits its $12.5 million incentive package provided by the cities of Huntsville and Athens, Limestone County, Morgan County and Madison County, and the Limestone County Development Authority. “Part of the revised agreement gives the company flexibility to respond to market shifts, as long as they fulfill long-term obligations,” Kelly Schrimsher, director of communications for the city of Huntsville, said. “There are benchmarks where the company’s performance is analyzed. These include performance numbers for wages and employees. The next reporting period will be December 31, 2019. Compliance reports,

however, will not be delivered until spring of 2020. “Until the city and state see that report, it would be premature to speculate on Remington’s performance.” According to reports, Remington has already lost $3 million from a withheld cash incentive payment from the state and repaid more than $500,000 for failing to meet various job and payroll targets, which was part of an overall $70 million incentive package. Remington did not respond to requests for information by deadline. Huntsville officials still believe Remington is committed to meeting its goals and to the city. “This is a 200-year old company in the process of restructuring and reshaping its future to meet a changing marketplace,” Schrimsher said. “The CEO’s office is now in Huntsville. We believe the company is committed to having a strong presence here, and our agreement gives them time to work through their reorganization. “Conversations to date have reflected this continued commitment.” Schrimsher also said the city

is well protected under the agreement it has with Remington. “The city still has 100 percent control of the Remington campus,” she said. “To date, Remington has not earned any percentage of the facility. Should Remington ultimately be found in default of its contract, the company would owe the city $9.5 million, which was the city’s investment in the project, (the other entities invested the remaining $3 million) or surrender the campus. The campus market value far exceeds the $12.5 million mortgage. “Huntsville’s investment was relatively small considering the hundreds of millions of dollars Remington has invested in the plant and payroll to date. If Remington walked away tomorrow, Huntsville would be made whole.” Schrimsher cited the positive im-

pact Remington had after locating in the city from a jobs standpoint, regardless of what happens in the future. “To put this in further perspective, the Huntsville marketplace is in an entirely different position when Remington entered in 2014,” she said. “At that time, Huntsville was heavily dependent upon federal employment dollars, and Mayor Tommy Battle and the Chamber (of Commerce) were working hard to diversify and expand our employment base beyond federal contracting. Advanced manufacturing was a target market, but it’s also highly competitive, and every state in the country is fighting for good-paying jobs for skilled workers. “Landing the Remington plant put Huntsville on the map for advanced manufacturing. After the Remington announcement, the city caught the eye of Polaris, then GE Aviation, Aerojet Rocketdyne, Blue Origin, and now Mazda-Toyota. Remington was a catalytic project for Huntsville. At present, there are thousands of jobs available for highly skilled workers in Huntsville.” u

Huntsville BUSINESS JOURNAL

MANUFACTURING

New Manufacturing Technologies: The Smart Factory Manufacturing innovations such as Blockchain, Additive Manufacturing, and Augmented Reality are a few of the hot new technologies that were discussed at the SME-NDIA 2nd Annual Technology Interchange Symposium. Blockchain and Digital Thread According to Forbes, Blockchain offers manufacturing great potential to deliver business value through increasing operational transparency across every area of manufacturing. From shop floor operations to the suppliers, manufacturers will be able to meet delivery dates, improve product quality, and boost sales by improving supplier order accuracy, product quality, and effective trackand-tracing technology. “Companies generally lose $500 milllion a year in the counterfeit parts market,” said Chris Adkins, CSO at Identify 3D. “With cybersecurity,

Sam Kellet

there’s always a level of vulnerability you’re going to have to live with.” Adkins said although risks cannot be fully eliminated, there are ways to minimize risk. Blockchain technology promises to tighten those gaps while delivering operational transparency. However, not all supply chain

partners are open to adopting blockchain technology. “Think of this as recording data, sharing data across the supply chain,” Adkins said. “Information sharing poses one of the biggest obstacles. How do you convince suppliers to share core data?” “Every process step should have traceable data, which allows you to have analytics. Although you might not be able to stop hacking, the information will allow you to find who stole it.” Additive Manufacturing Additive manufacturing is the official industry standard term (ASTM F2792) for all applications of the technology. It is defined as the process of joining materials to make objects from 3D model data. Essentially, the ability to print 3D copies of replacement parts. The ability to produce manufacturing aids, such as jigs or fixtures increases efficiencies and reduces costly traditional machining. When properly implemented, additive manufacturing can significantly reduce material waste, streamline production steps, and reduce the amount of inventory and specific parts needed for an assembly. Augmented Reality According to the Franklin Institute, augmented reality is one of the biggest technology trends and it’s only going to get bigger as AR-

By Lori J. Connors / Photography by Steve Babin

ready smartphones and other devices become more accessible. A popular example of AR technology is the “Pokémon Go” mobile phone app. All fun and games aside, there are many everyday applications for AR. Enhanced navigation systems use AR to superimpose a route over the live view of the road. A helmet visor AR that projects altitude, speed, and other data allows Military fighter pilots to keep their focus without the need to glance down at the instrument panel. Smart glasses are a great example of Augmented Reality technology. Lightweight and durable, smart glasses fit easily over regular prescription glasses, or they can be worn alone. Tech support calls can be made directly from the glasses using a voice command feature, which keeps both hands-on equipment repair or calibration, without taking one’s hands off the machinery. For the factory floor, the peerto-peer calling features enables the repair tech to see exactly what the shop floor specialist is seeing. Precise, effective repairs and shorter equipment downtime easily translates into dollars and cents. Enhancements in the manufacturing technology landscape promise to deliver first time quality, the kind of quality that’s crucial for the warfighter. u

Pictured L to R: Sam Kellet and Jon Jowers

July 2019

GOVERNMENT CONTRACTING

Clouds Give Way to IronMountain Solutions Ribbon-Cutting 2.0 By Lori Connors / Photography by Steve Babin

Pictured L to R: Madison County Commissioner - Dale Strong, CFO Brian House, Huntsville Mayor Tommy Battle, CEO Hank Isenberg

Despite a gloomy weather forecast, the sun prevailed at the second take for the IronMountain Solutions ribbon-cutting. The event, originally set for April, was delayed on account of bad weather. This time, however, the clouds moved on and took the rain elsewhere. As the sun beamed down on the well-wishers, the champagne was chilled and ready. In its new location in Cummings Research Park, IronMountain Solutions has good reason to celebrate. After spending the last decade in a patchwork collection of suites on the opposite side of Old Madison Pike, its spacious new building is home to all business operations with room for expansion. Huntsville-Madison County Chamber of Commerce Board Chair Kim Caudle Lewis led the introduction. “The angels smiled down on you

today,” she said. “Congratulations on doing a good job and for the fourth year of IronMountain Solutions being recognized as one of the best places to work.” Huntsville Mayor Tommy Battle was also on hand to usher in the new facility. “Congratulations to the IronMountain team and to Hank (Isenberg). We know this is the start of something beautiful,” said Battle. “Welcome to the new building, we are very excited to for us all to be under one roof,” said Isenberg, the company’s president and CEO. “It’s been a long journey from across the street. These are historic times. The defense industry is raising the bar and IronMountain Solutions is a big part of that.” And with that, everyone within range took a few steps backward as Isenberg drew his sabre to pop the champagne cork. u

C E L E B R AT I N G

20 YEARS

Huntsville BUSINESS JOURNAL

COVER

Razing Buildings to Raise Opp

By Mike Easterling / Pho

Devyn Keith ran to represent District 1 on the Huntsville City Council in 2016 vowing to make north Huntsville a destination. He wasn’t making empty promises. With Keith leading the way, eyesore buildings bought by the city have been razed along North Parkway. There have been eight reduced to rubble so far and, if Keith gets his way, more will follow. Blight isn’t welcome in Keith’s district where he grew up in the Northwoods development. “We’ll be going after the rest of them shortly,’’ he said of privately owned buildings

that have seen better days. “I’m not sure of the time frame.’’ Keith has been a mover and shaker since he unseated longtime District 1 Councilman Richard Showers. Just two years into the job, he was voted council president by his colleagues. Meanwhile, he created the North Huntsville Business Association, which will soon move into office space near the corner of Oakwood Avenue and the Parkway in a strip mall that has been renovated. Keith, who holds degrees from Samford and the University of Massachusetts, ran

on the platform of reducing crime, increasing property values, investing in infrastructure and enhancing a vibrant quality of life for all of the district. Some of his initiatives have already taken shape. Along with the city, the Neighborhood Resource Center, a program that brings city government to the neighborhood, was launched. The Johnson High School campus will soon become the Johnson Legacy Complex complete with indoor volleyball courts, soccer fields, a rockclimbing wall and even a sauna. Those are just two of the projects Keith is overseeing. There have been neighborhood block parties and ice cream socials. Streets are being repaved. The public library serving north Huntsville will move from a trailer into the new Berachah Park. There’s also the Council Advertorial High Park planned for the site where the old building no longer exists. One of the many empty buildings along North Parkway, the former Gander Mountain site, will soon be filled by Rural King. For Keith, nothing is more important at the moment than erasing the blight that corrupts his streets. “That was the first policy -- start tearing things down,’’ he said. “That was one of the things I ran on. Tearing down blight is a positive to let people know the city is serious about this. “It’s, ‘What can we bring to north Huntsville?’ There hasn’t been a new subdivision in north Huntsville in a very long time.’’ Keith has his battle lines drawn. Imagine an area encompassing Oakwood Avenue, Pulaski Pike, University Drive, Jordan Lane and the Parkway. “We’ll work from the outside in,’’ he said. Drive past the intersection of the Parkway and Lantana these days and there’s an empty lot where dilapidated buildings once stood. It’ll soon be home to Lantana Way, a green space

July 2019

STORY

portunities for North Huntsville

otography by Eric Schultz

with a planned public art wall. “We’re just trying to make it clean,’’ said Harrison Diamond, business relations officer for the city. “We’re tearing them down to make green space. “We’ll work with the private sector to help make it better. We’ve got projects in the hopper.’’ That’s music to Keith’s ears. “The city is making it advantageous (for businesses and homeowners) to come to north Huntsville,’’ he said. “For us it’s, ‘What can we do to make it easier.’ ” u

Huntsville BUSINESS JOURNAL

DEVELOPMENT

Hays Farm Plan is Grabbing the Public’s Attention

Now that developers have shared some details on the 850-acre, multifaceted development of Hays Farm the public is starting to weigh in.

Jim Hays, John Hays and Jeff Enfinger, the owners of the property, spoke to a packed house on May 30 in the Martha deFord Hays Auditorium at Grissom High School. The turnout caught the attention of District 3 Councilwoman Jennie Robinson, who was also in attendance. “I thought it was amazing and very representative of the enthusiasm of the community for

the project,” said. Robinson said since the meeting, she’s had conversations with a number of people who have expressed inter-

est in moving into one of the roughly 1,000 residential units that will be built in Hays Farm. One couple, in particular, was under contract to purchase a home in Owens Crossroads, but after the meeting decided to go ahead and cancel their contract and build a home in Hays Farm, according to Robinson. The first 500 units of residential development will consist of single-family detached units like estate homes, patio homes and traditional housing sizes, which will span the $300,000 to $700,000 price points, according to Enfinger. Some of those are being developed now. Enfinger also said the next 500 units will include condominiums, townhouses, lofts over the new retail establishments and possibly some agerestricted housing. “The 1,000 units we’re going to build doesn’t do much for the commercial activity except create sort of a foundation,” Enfinger said. “The commercial activity is part of all of South Huntsville. “So, if South Huntsville doesn’t become part of the commercial activity, then it won’t be as successful.” Robinson said she expects the new housing in South Huntsville to have a positive impact on the schools because of a cause and effect relationship between people in South Huntsville moving into the new homes and freeing up more affordable housing options for younger families. The idea is that young families will bring with them young children and help increase the population of younger kids in the South Huntsville schools, which have seen those numbers decline, according to Robinson. Enfinger told those in attendance that the first part of the commercial aspect of the development is to raze Haysland square and develop 175,000 to 200,000 square feet of new commercial space. “It’s under contract now with a Florida developer who has developed here and we hope to have an announcement this Fall where that center would be redone next year and it would upscale, walkable and pretty,” Enfinger said. Enfinger added that they were working with Staples, the only retail store left in the current development.

By Jonathon Stinson

“We’re providing space for Staples,” Enfinger said. “We have to cut a deal and they have to agree to it, but we’re going to make every effort to keep Staples.” He said he hopes there will be an announcement about the first part of the redevelopment this summer. It is expected to take five years before developers get back to the center housing Home Depot and a development north of Mike’s Merchandise, according to Enfinger. “We’ve got three opportunities to develop and redevelop the high-volume, high-traffic commercial areas,” he said.

Jeff Enfinger, Co-owner of Hays Farm

Robinson said she expected more developers to follow in the Hays’ footsteps. “The example of the Hays family and the investment they’ve made will build confidence for other investors who will see the potential in South Huntsville,” she said. The development will have three parks: a 500-acre natural park, similar to the Hays Nature Preserve, a new ballpark with various fields; a city park, like Big Spring Park in downtown Huntsville. “We have a park system that I believe will be unrivaled by any park system that I know of in my lifetime,” Enfinger said. There are also plans to have an entertainment district set up in the new development, possibly around the city park, but Enfinger said most of the specifics were still yet to be determined. “It was really a difficult decision for the family to decide to let the farm go,” Jim Hays said. “… But, it’s time. The community needs it, so it was time.” u

July 2019

HEALTHCARE

Huntsville/Decatur-based Home Care Agency Right at Home Expands More than 8.3 million people in the United States were served by longterm home care providers in 2016, according to a recent report by the Centers for Disease Control and Prevention. Huntsville-based North Alabama Right at Home is one of those such providers. With locations in Jones Valley and Decatur, North Alabama Right at Home has been steadily extending its home care services over the past 6½ years to include Madison, Athens, Cullman and Moulton. Now, the company has announced it is expanding into Florence, Muscle Shoals and Russellville. Joint Commission Accredited According to Regional Director Richie Thompson, Right at Home is different from other home care services because it has a Joint Commission Accreditation that certifies it nationally as providing safe and effective care of the highest quality and value. “We instill one quality standard to everything we do and that is summed up in one word: Excellence,” said Thompson. “The Joint Commission Accreditation is not required in the state of Alabama but, as a local franchise, we felt it was important to have it as a reinforcement of that standard for excellence. “It is a very scrutinizing audit of our staff, our documentation, what we do and how we do it. It was very challenging, but everyone in the medical field is familiar with it and we believe it is worth it.” Thompson and Right at Home President Bradford Meythaler are also known to reinforce this standard of excellence with surprise personal supervisor visits designed not to question their caregivers, but to ensure the families they serve are getting the absolute best care. Right at Home not only comes into private homes, but serves in hospitals, nursing homes, assisted living and memory care facilities as well. Filling a Need Home Health Cannot Provide A recent assessment showed that the closest family member to the aver-

age person Right at Home serves lives 270 miles away. Because a home health provider or Hospice can’t be there everyday to make sure the patient is following up on their physical therapy, taking their medications properly, or able to perform simple daily tasks, families need help. “In a majority of cases, our care coordinators cook meals, assist with bathing and hygiene, and transport them to doctor’s appointments,” Thompson said. “But we also offer families reinforcement for any medical or therapeutic needs a person may have. We come in on days when medical personnel do not, to work alongside them and follow their lead on medical issues.” Thompson said the Right at Home care coordinating team consists of people with highly diverse

skills and abilities, but the thing they all have in common is that they love people and have a passion for serving and caring for others. “Our office manager is a retired guidance counselor while another team member is a retired school principal,” he said. “One of our care coordinators is a retired nurse; and we have one who has a license in physical therapy, so she is qualified to go into a facility or into the home and assist the patient with physical rehabilitation exercises. “All of them have a passion for service and are taking the opportunity to continue serving and making a difference in their community.” Thompson said they do not see their care coordinators as employees, but instead, strive to be an extension of the family. “We are there to love them and

By Kimberly Ballard / Photography by Right At Home

serve them, minister to them, and assist them in a way they feel loved and cared about,” he said. “Many of our seniors still want to get out and enjoy life. If they’re at that place, we take them to entertainment venues, to the mall shopping, and sit down with them to a nice meal out in a restaurant.” Thinking Outside the Box “Something we do that is different from other home care services is sponsor events at assisted living and nursing homes,” said Thompson. “We hold senior adult proms and even senior adult beauty pageants. I bring in lights and my sound system and I play DJ. “We create an environment that is fun and exciting and that brings smiles to the seniors’ faces, and their families too.” Coordinating Services The Right at Home process begins with an assessment to ensure the person and their family members needs and expectations can be met. Then they place a care coordinator based on those needs, and on personalities, with the intention of giving them the best care possible. Thompson said their services are not covered by standard health insurance and there is no option right now through Medicare in the state of Alabama, as there are for home health and hospice, but he is hoping that will change. Right at Home services are paid for in three ways: long-term care insurance; the VA Aid and Attendance benefit, which also covers a veteran’s spouse; and private pay. Right at Home is in the hiring process, putting people through orientation and vigorous training to fulfill the needs of family requests already coming in from those areas. “The dream is to continue to grow as we continue to have more families to serve, and we will add care coordinators to meet those needs,” Thompson said. “We feel like our services make our communities better and that is our heart and our motto: Serving our community… Right at Home.” u

Huntsville BUSINESS JOURNAL

DINING

Full-Bodied Experience Awaits Customers at The Brass Tap ence for customers,” said co-owner Chris Ray. “We wanted to become cicerone-certified beer experts and we wanted our manager and our servers to be Level 1 cicerone-certified servers. That way, with so many different brands available, they can answer questions and make the best recommendations to customers.” A cicerone is the beer equivalent to a wine sommelier – experts in their profession.

Craft beer lovers will have a full-bodied experience on tap when they visit Huntsville’s newest brewthemed restaurant. The Brass Tap, at the Shops at Merchant Square on Bob Wallace Avenue, offers more than 300 beers from around the world, 56 craft beer taps, four Nitro taps, a chef-designed menu, and expert cicerone-certified beer servers. Half of The Brass Tap flavors will be dedicated to the dozen or so Huntsville/Madison breweries to help promote their customer-favorite brews and to support community awareness about those local brands. However, The Brass Tap promises more than a variety of hoppy-malty tastes. You will also enjoy a better understanding of why you love the yeasty brew so much! First, The Brass Tap uses a unique

direct draw keg-to-faucet dispensing process that stores all 60 kegs at a perfect 38-degree temperature, guaranteeing a more consistent, higher quality pour. “Kurt (Morganweck) and I are craft beer lovers, but we wanted to do something different that would keep it local by promoting local breweries, educate the beer drinker, and provide a high-end, quality experi-

“We distinguish ourselves as a high-end beer bar with a unique flair that is different from anyone else in town, but our goal is to become the ultimate craft beer bar in Huntsville,” he said. Whether you are a lifelong Budweiser drinker, a beer aficionado, or a first-time beer-drinker, you are

By Kimberly Ballard / Photography by Steve Babin guaranteed a fun and tasty education from The Brass Tap who can help you explore different types of beer. You will always receive your beer in the proper glass designed specifically for that type of beer – a pilsner glass, pint, chalice, mug, stein, flute, etc. The Brass Tap offers seating on two patios with garage doors that can be pulled up or down according the weather; and a chef-inspired menu that complements the variety of beers offered including salads, tacos, burgers, flatbreads, wings, and steak. The Brass Tap has a number of events planned for local businesses and workers including Medical Mondays, Taco Tuesdays, Wine Down Thursdays and Teachers Day Out on Friday. On these days, the Brass Tap will offer extended Happy Hour specials for members of the business community as well as residents. In addition to beer, The Brass Tap has a full spirits bar and wine selection including a Sangria. They partnered with Four Roses Kentucky bourbon for in-house Manhattans and Old Fashions. “We also have Tap Out Margaritas … and boy do they go down well with tacos!” said Ray. The pub also features 14 TV screens and a large accent wall with lighting and a projector so they can air large sporting events, as well as welcome local musical artists, trivia nights and bingo. u

July 2019

GOVERNMENT

AAA Ratings Prove Huntsville Is Still Region’s Economic Engine For the 11th consecutive year, Huntsville has received the highest possible “AAA” credit ratings from the two major credit rating agencies Standard & Poors and Moody’s Investors Services. The agencies cited several factors as the driving force behind the ratings including financial stability, a strong regional tax base, substantial reserve funds, and Huntsville’s strong economy as a steady economic engine for all North Alabama. Out of 22,250 U.S. cities and counties, less than 1 percent receive this top rating. According to S&P, “The city has also been reinvesting in its community with deliberate and effective urban planning and design efforts. With a combination of pay-as-you-go financing from excess revenues, tax increment revenues and debt proceeds, the city has been able to undertake multiple projects.” “The tremendous growth in Huntsville, our ability to work together strategically, efficiently and collaboratively has made this success possible,” said Mayor Tommy Bat-

By Kimberly Ballard

tle. “We’ll use these high credit marks to borrow money at exceptionally low interest rates to fund projects in the city’s capital improvement plan.” Budget management and a low debt-to-citizen/debtto-GDP ratio also

Another $50 million has been earmarked for capital building and improvement projects at John Hunt, Merrimack, and Brahan Spring parks; for recreation centers; libraries;

played a large role, according to the report. The ratings give Huntsville a lot of financial leverage including the ability to borrow close to $85 million for city and countywide projects. Among them is $25 million to complete the Greenbrier Parkway in rural Limestone County, which was annexed to Huntsville as part of the infrastructure needed to support the Mazda-Toyota Manufacturing USA megadevelopment.

greenways; and a public safety training center and police firing range. An additional $10 million has been put aside for downtown parking garages. u

Huntsville BUSINESS JOURNAL

ENTREPRENEURSHIP

Alana Parker of Rocket City Drywall Wears Many Hats

Pictured: Alana Parker owner of Rocket City Drywall

A wearer of many hats, Rocket City Drywall owner Alana Parker shared her triumphs as well as her challenges to a packed house for a recent breakfast at the Stovehouse. “I’m the president, but I’d like to

say that I’m also the vice president, secretary, and janitor on demand,” she said. Parker was a speaker for the The Catalyst Center for Business & Entrepreneurship series “Strong Coffee, Strong Women.” She is also a recipient of three small business awards - the 2018 Female Entrepreneur of the Year, the 2019 Alabama State Small Business of the Year, and the U.S. Small Business Administration’s 2019 Small Business Person of the Year. Rocket City Drywall is one of two Drywall companies in Alabama and the only locally owned and operated supplier in North Alabama. Currently, there are six drywall suppliers in the marketplace in the U.S. “A lot of people think my competitors are Home Depot and Lowe’s,”

says Parker “They are my customers. The big competitors are much scarier.” Not only is Parker the youngest owner of a drywall supplier in the United States, she is the only woman in a male-dominated industry. Parker was born in 1985, around the same time her grandfather started Rocket City Drywall. Originally, the company was on Church Street, where the city’s transportation hub currently sits. “I learned how to drive a forklift at age 8, this was before OSHA,” laughed Parker. “We were right on a rail line. I used to climb the stacks of drywall in the train cars. “Drywall is separated by smaller pieces, called dunnage. My job was to collect the dunnage and throw it off from the train car. As for gender role division of labor, my grandfather never let me know anything different.”

By Lori J. Connors / Photography by Steve Babin

Parker was raised by a single mom in Raleigh, N.C. , but spent her holidays and summers with her grandfather here in Huntsville. “As soon as school was letting out, my granddad would be there to pick me up for the summer,” said Parker. “My visits to Huntsville slowed down a bit in high school, when I got a car and a boyfriend.” Parker graduated from the University of North Carolina in 2007 with a degree in English writing, but went to work for her grandfather. Then, in 2008, the reality of working at a small business in the building industry hit … hard. “In 2008, Huntsville was the first market to get hit with by the recession, but it was also one of the first to recover,” she said. “Rocket City Drywall took a $600,000 loss in 2010. People say that I was born with a silver

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July 2019

ENTREPRENEURSHIP

spoon, but I was given a silver spoon with a $600,000 price tag on it.” This setback forced Parker to reach out into the community. “I don’t know what I’m doing, but I’m smart enough to figure it out with help,” said Parker. “The first thing I did was reduce the company from a $6 million company to a $3 million company. This raised a lot of eyebrows.” Now, she owns the company. “I bought the company from my grandfather in 2016,” said Parker. “I got an SBA loan. It’s a lot of paperwork, but it provides access to capital when there are limited options.” Rocket City Drywall had always been a residential construction supplier, but Parker had decided to expand the business to include a commercial division. Parker spent five years developing the commercial line when tariff restrictions created a volatile market atmosphere, which made supplies often inaccessible. “I was ready to roll out the com-

mercial product line, but I had to sit back a year and watch and see how people reacted to the tariffs, to see how suppliers were treating customers,” said Parker. “There was no pricing security, how were suppliers going to react? Taking that year to evaluate the

market was the best thing I’ve done for the company.” As the presentation came to a close, Parker added personal bits of insight. “I am optimistic to a fault,” said Parker. “I’ve never seen a problem that

doesn’t have an answer. Stay motivated with faith and family, believe in what you’re doing. Know that sometimes, it’s going to come out of sheer stubbornness. “The next step is just around the corner.” u Attendees of Strong Women, Strong Coffee

Huntsville BUSINESS JOURNAL

SPORTS / RECREATION

Trash Pandas Unveil New Uniforms in a Major Way By Bud McLaughlin / Photography by Eric Schultz Nelson and his staff engineered a ground-breaking ceremony last year that drew hundreds of people, a team name release party that packed a local craft brewery and a logo/team colors celebration-fireworks gala that packed Madison’s Dublin Park. So, naturally, there was no chance this was going to be your standard uniform unveiling – if there is such a thing. “We decided to turn it into an ‘experience,’” he said. “It’s also another chance for us to integrate with the community.” u When it comes to baseball, particularly the Rocket City Trash Pandas, Ralph Nelson believes in going big. In fact, there’s nothing minor about the baseball team that set all sorts of Minor League Baseball merchandise records and recently passed the $1 million mark in sales. And the Trash Pandas don’t even

play until next April. Before a crowd of some 3,000 fans, the team unveiled its five inaugural season uniforms last month in a big bash at Big Spring Park in downtown Huntsville. Local television personalities modeled the full official uniforms, including the Salute to Military Sunday/Holiday uni-

form, modeled by Redstone Arsenal Garrison Command Sgt. Maj. Billy Counts. “We are going to tip our hats to the military every Sunday,” said Nelson, the team’s CEO and managing partner. “If we have games on Memorial Day or the Fourth of July, we’ll wear them then, too.”

Ralph Nelson, CEO and Managing Partner of Rocket City Trash Pandas

WORTHWHILE CONVERSATIONS WHAT ABOUT THOSE RETIREMENT “RULES OF THUMB”? HOW IMPORTANT IS IT TO BE DEBT-FREE WHEN YOU RETIRE? Being debt-free at retirement is popular advice today on radio talk shows and internet blogs. However, it is not a “one-size-fits-all” approach. Not all debt is created equal, so be careful about following these rules of thumb.

regular payments. Considering income tax effects and long-term portfolio effects, their long-run financial position was likely to be better keeping the mortgage. They never imagined that the projected long-run improvement in their outcome could be greater than the amount needed to pay off the mortgage today.

ARE YOU SAYING THERE IS “GOOD” DEBT AND “BAD” DEBT?

SO, THE ANSWER IS TO KEEP YOUR MORTGAGE AND PAY OFF EVERYTHING ELSE?

Yes, that is accurate. If you are making multiple minimum payments on credit card balances, you probably need a new plan. That is likely “bad” debt. Making early principal payments on a low-rate, fixed interest mortgage so it will be retired on your 65th birthday is not always the best choice. That mortgage might actually be “good” debt. HOW DO YOU KNOW THE DIFFERENCE? Each situation is different. We recently met a couple who came in with a very strong motivation to pay off the remaining 6-figure balance on their mortgage, since the husband just received an early retirement severance package. Our analysts modeled their individual numbers, considering their income tax position and other assets. Our advice was to leave the mortgage alone and continue to make the

No, that would be another rule of thumb. The real solution is to get individually tailored advice from a firm committed to the fiduciary standard, with no particular ax to grind. As Phillip Hamman, CFA, CFP®, Chairman of our Wealth Planning Committee, stated recently, “We have all the professionals needed to fully address these questions - CPAs, attorneys and other credentialed professionals. We have that team and have been helping clients with questions like this for 48 years.” We are ready to talk and can meet you at our office in Huntsville. For more information, or a copy of our Form ADV, Part II, with all of our disclosures, call Sheri Robinson at 205 868 3331 or visit www.linscomb-williams.com.

(Left to right: Harold Williams, CPA/PFS, CFP®; Phillip Hamman, CFA, CFP®; Sheri Robinson, CPA, CFP®, AEP®; Lisa Abbott, Senior Vice President; Chris Russell, Senior Vice President) Linscomb & Williams is not an accounting firm; subsidiary of Cadence Bank.

CHRIS RUSSELL

SENIOR VICE PRESIDENT, MARKET EXECUTIVE, WEALTH SERVICES, CADENCE BANK, N.A.

LISA ABBOTT

SENIOR VICE PRESIDENT, MARKET EXECUTIVE, WEALTH SERVICES, CADENCE BANK, N.A.

SHERI ROBINSON, CPA, CFP®, AEP®

DIRECTOR, LINSCOMB & WILLIAMS, SUBSIDIARY OF CADENCE BANK

PHILLIP HAMMAN, CFA, CFP® PRESIDENT, LINSCOMB & WILLIAMS, SUBSIDIARY OF CADENCE BANK

HAROLD WILLIAMS, CPA/PFS, CFP®

CHAIRMAN & CEO, LINSCOMB & WILLIAMS, SUBSIDIARY OF CADENCE BANK 312 Clinton Avenue West Huntsville, Alabama 35801 256 532 2690 www.linscomb-williams.com

July 2019

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Huntsville BUSINESS JOURNAL

BUSINESS BRIEFCASE

Davidson Technologies, Torch Technologies Donate to School of Cyber Technology Davidson Technologies and Torch Technologies presented major gifts to the Alabama School of Cyber Technology and Engineering Foundation during last month’s National Cyber Summit.

Davidson Technologies donated $250,000 and Torch Technologies made a $100,000 contribution. The donations are intended to promote and advance the School, which opens in Huntsville in August 2020. State Sen. Arthur Orr and LSINC CEO Alicia Ryan accepted the checks on behalf of the foundation from Dr. Joe Green, president of Davidson Technologies; and Jim Diehl, Torch Technologies chief of staff. Orr also serves as president of the Alabama School of Cyber Technology and Engineering Board of Trustees and Ryan is president of the Alabama School of Cyber Technology and Engineering Foundation. u

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Full Moon Bar-B-Que Opening in Huntsville Full Moon Bar-B-Que will open a restaurant in Huntsville next year. The company said its 16th location will be at 1009 North Memorial Parkway, in front of Books-A-Million. The restaurant will be in the building formerly housing the Royal Rose restaurant and is slated to open in early 2020. The announcement follows the opening of Full Moon Bar-B-Que’s location in Trussville, its 15th in the state. The Huntsville store will offer a quick service dining experience and serve a full menu featuring all of the BBQ restaurant fan favorites while also expanding catering offerings to the area. u

Ford Thornton Named Development/Communications Director For Princess Theatre

To advertise in Huntsville Business Journal Call 256.533.8078, Visit www.huntsvillebusinessjournal.com or e-mail carolyn@eventhuntsville.com

DECATUR – Melissa Ford Thornton has been named development and communications director for the Princess Theatre, the Board of Directors for Decatur’s Princess Theatre and Performing Arts Center announced. An alum of the University of Alabama-Huntsville, Ford Thornton has more than 25 years of communications, public and media relations experience. She and her husband, Mark Thornton, established the Suzanne Kay and Gregory Ford Memorial Scholarship at UAH. “In addition to her wide-ranging communications skills, Melissa is a

gifted storyteller, which gives her a unique perspective on and passion for sharing and connecting patrons to the Princess Theatre’s incredible history and narrative,” said Mary McDonald, executive director of Princess Theatre. “I’m thrilled to have Melissa join our team.” Ford Thornton said the position brings her career “full circle.” “My first paying job at 16, was working behind the concessions counter at Madison Twin Theatres in Huntsville,” she said. “My professional career is varied, from marketing and corporate communications to musician promotion and booking and podcast host. So, this position with the Princess Theatre, is a beautiful, full-circle and career highlight for me.” u

HudsonAlpha Brings Power of Genomics to Capitol Hill WASHINGTON – Along with research, education is a key element of the HudsonAlpha Institute for Biotechnology’s mission. So, officials with the Huntsville-based center went on a mission to Capitol Hill last month and presented “Genomics in Agriculture 101: Exploring the Basics” in the Rayburn House Office Building. It was the third time HudsonAlpha held a “Genomics 101” session for lawmakers and their staff. Members of Congress, their staff and House and Senate Committee staff members engaged with Jeremy Schmutz, faculty investigator and co-director of the HudsonAlpha Genome Sequencing Center; Dr. Kankshita Swaminathan, faculty investigator; and Dr. Neil Lamb, vice president for Educational Outreach, during the briefing. The purpose for “Genomics in Agriculture 101” was to provide a forum for leaders in plant genomics to interact with the leaders who

July 2019

BUSINESS BRIEFCASE

drive national policy, impacting agriculture for the United States and beyond. “Enormous progress has been made in plant genomics in just a few short years. We have gone from generating a single reference genome for a single plant, to generating hundreds of reference plant genomes and detailed diversity of crop collections,” said Schmutz. “These advances are providing solutions to the many agricultural challenges faced by the farming community every day. “Genomics 101 provided decision makers on national policy an opportunity to learn more about the reach and impact of genomics in agriculture.” Some of the topics discussed at the briefing involved the power and utility of the information gained through genomics, specifically regarding improvement of crop yields; acceleration of breed-

ing cycles; resistance to diseases and pests; reaction and resulting changes based as a result of drought or floods. Additionally, the group from HudsonAlpha stressed the importance of collaboration within the field of plant genomics. u

Trash Pandas Offer Jersey Experience to Fans After an exciting uniform reveal celebration last month, the Rocket City Trash Pandas have upped the ante in playing to the fans. The team is offering fans a chance to purchase authentic inau-

gural season jerseys and take part in an Authentic Jersey Experience. “We are really excited about the Authentic Jersey Experience,” team managing partner Ralph Nelson said. “The fans who take part will get their jerseys (next March) in the team locker room and go out onto the field before the players do. “If you’re a baseball fan, this is what it’s all about.” The package includes a Rawlings authentic Trash Pandas jersey and a ballpark/locker room experience featuring the use of a player’s locker, batting practice on the field, and a post-game “spread” in the players’ lounge, all courtesy of the Trash Pandas clubhouse manager. The jerseys will be custom made for each fan, including size, name and number. The Experience will be available for purchase for $249 through the end of the year. It can be purchased online or at the Trash Pandas

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Emporium in Bridge Street Town Centre. u

Marriott Honors Sherry Petrazio of Four Points Airport Sherry Petrazio of Four Points Huntsville Airport was named Team Member of the Year for the entire Sheraton Four Points brand. The award was presented during the Marriott General Manager’s Conference in . The Marriott awards honor select-service and extended-stay brands, including AC Hotels, Aloft Hotels, Courtyard, Fairfield Inn, SpringHill Suites, Residence Inn, TownePlace Suites and Sheraton Four Points. u

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