Here is today's summary of economic development news, presented by the Economic Development Partnership of Alabama.
Ex-state Finance Director Henry Mabry chosen top executive for Alabama Education Association
Published: Thursday, December 01, 2011, 3:40 PM Updated: Thursday, December 01, 2011, 4:06 PM
The Alabama Education Association's directors today voted to hire former state Finance Director Henry Mabry to replace Paul Hubbert as the AEA's executive secretary, AEA President Dot Strickland said.
The board also voted to hire Gregory Graves as associate executive secretary, replacing Joe Reed. Graves is an AEA lawyer.
Strickland said Mabry and Graves indicated they would accept the positions, assuming contract negotiations are successful.
Hubbert announced months ago he planned to retire. He became AEA's top executive in 1969.
The AEA is widely viewed among the more powerful lobbies at the Alabama Statehouse. It has about 95,000 members, most active or retired public school teachers or support workers.
Huntsville-based Adtran having 'fantastic' year, says CEO Tom Stanton
Published: Wednesday, November 30, 2011, 4:38 PM Updated: Thursday, December 01, 2011, 10:19 AM
HUNTSVILLE, Alabama -- Huntsville-based Adtran has had another "fantastic" year, with the company marking its sixth consecutive record revenue quarter in the third quarter, said company CEO Tom Stanton.
Despite some challenges during the year, including losing power for six days after the April 27 tornadoes tore through the area, employees "delivered another record quarter," Stanton said today at Adtran's Connect 2011 Press & Analyst Event, held at its corporate headquarters in Cummings Research Park.
"We were able to ... ship products the whole period, but it wasn't easy."
This is the fourth - and largest - Connect event, bringing in nearly 50 technology writers and analysts and Adtran customers. The event ends Thursday.
Stanton was informed just before he spoke at the event that Adtran's stock was up $2, prompting him to say, "We ought to do these more often."
The company, which specializes in networking and communications equipment, has about 1,700 employees worldwide.
For the third quarter, Adtran's revenue reached $192 million, 18 percent higher than the same quarter in 2010.
Third-quarter revenue from three product areas - broadband access, Internetworking and optical access - was up 63 percent year over year, said Gary Bolton, Adtran's vice president of global marketing. And leading the way was the broadband access category, he said.
Oil spill claims: Harvesters and processors of shrimp, crab to get double the money
Published: Wednesday, November 30, 2011, 9:30 AM Updated: Wednesday, November 30, 2011, 9:41 AM
The new Gulf Coast Claims Facility rules give any commercial crab or shrimp harvester or processor either four times the amount they can document having lost in 2010 due to the spill, or their total documented losses to date, whichever is larger.
Previously, they could receive twice their 2010 losses like nearly everyone else.
The new rules also make it tougher for businesses and individuals in Texas and the Florida panhandle to get money from the claims operation.
Losses in those areas "are no longer presumed to be the result of the oil spill," a statement from the claims operation reads.
Huntsville named one of the best places to retire by Where to Retire magazine
Published: Thursday, December 01, 2011, 12:20 PM Updated: Thursday, December 01, 2011, 1:17 PM
By Mike Marshall, The Huntsville Times The Huntsville Times
HUNTSVILLE, Alabama -- Huntsville, a city becoming accustomed to accolades, has made another national list.
The city has been selected by Where to Retire, a magazine designed to help retirees with relocation decisions, as a top retirement town.
Huntsville will be profiled in the magazine's January/February 2012 issue. That issue will be available on Dec. 20.
"Huntsville is a growing city, yet it maintains the charm and hospitatlity of a small Southern town,'' said Mary Lu Abbott, the Where to Retire editor. "Retirees easily stay busy, volunteering for local charities, enjoying a live performance at a theater or participating in one of the country's largest adult-learning programs at the Osher Lifelong Learning Institute.''
Among Huntsville's other recent honors: one of the world's top 10 smartest cities by Forbes; the nation's fourth-strongest building market by BusinessWeek; and America's top midsize city to launch and grow a business by Fortune Small Business magazine.
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Wendy Wallace Johnson