Top of the List: Hispanic-owned businesses - Fri, 03 Feb 2012 20:55:08 +0000
In this week’s print edition of the Birmingham Business Journal, we ran our annual list of the largest Hispanic-owned businesses in Birmingham. Hispanic Employment Labor Pool Inc. came in No. 1 again this year with 60 employees. But in the course of compiling this list, I heard stories about Hispanic businesses and the struggles they've faced in the months after Alabama's controversial immigration legislation was signed into law. You can read more about those challenges in the story I wrote for this week's print edition.

Real estate roundup: Cashing in on the medical market - Fri, 03 Feb 2012 20:45:03 +0000
Medical real estate is a hot item for some commercial brokerage firms right now, and Birmingham-based Shannon Waltchack LLC is hoping to get a piece of the action. The company recently bought a 10,400-square-foot, class-B medical office building at Shelby Baptist Medical Center from Alabaster Dental Associates for $530,000, or $50.96 per square foot, and plan a $250,000 renovation. The two-story building, which was built in 1980 and renovated in 2003, was originally listed at $800,000. Aliant Bank is financing the deal, which bumps up Shannon Waltchack’s medical portfolio to 150,000 square feet, including the second, 20,000-square-foot office building it already owns at Shelby Baptist...

BBVA Compass sued by former employee in overtime pay case - Fri, 03 Feb 2012 20:04:20 +0000
A lawsuit filed by a former employee claims BBVA Compass failed to give legally required overtime pay to its mortgage banking officers. The lawsuit was filed in Texas on Thursday by Kevin Vaughan, who is being represented by Rowdy Meeks Legal Group LLC and Lee & Braziel LLP, on behalf of himself and all other current and former mortgage banking officers and other similar mortgage origination jobs employed by BBVA Compass since Feb. 2, 2009. In the suit, the plaintiff claims that the Birmingham-based bank paid mortgage banking officers on a commission basis and didn’t pay overtime pay for the hours worked in excess of 40 hours per week...

Photos from the Birmingham ballpark groundbreaking - Fri, 03 Feb 2012 20:00:32 +0000
Yesterday, we reported on the groundbreaking ceremony at the new ballpark in downtown Birmingham. As we reported, it was unveiled at the ceremony that Regions Financial Corp. (NYSE: RF) will sponsor the $64 million park, which will be home to the Birmingham Barons when it opens in 2013. Use the slideshow on the right to check out photos from the event.

Alabama Gives Day raises $743K - Fri, 03 Feb 2012 18:30:03 +0000
Alabama Gives Day, the Feb. 2 event to raise money for Alabama nonprofits, raised more than $743,000 for state organizations, according to the event's website. More than 8,400 donors and 900 nonprofit organizations participated in the event. According to the website, Birmingham's Restoration Academy was given the most money ($54,528), followed by Marion Military Institute Foundation Inc. ($12,800) and Ronald McDonald House Charities of Alabama ($11,806).

Mobile has state's top transportation salaries - Fri, 03 Feb 2012 16:51:14 +0000
Ship captains in Mobile are the highest earners among Alabama's transportation workers. According to a new review of Bureau of Labor Statistics data by On Numbers, ship captains, mates and water vessel pilots earn an average of $87,950 per year. Commercial air pilots in Montgomery ($82,590) and Birmingham ($81,400) are the next highest earners. Transportation inspectors in Birmingham ($78,750) have the fourth highest salaries, followed by air pilots in Mobile ($73,360). You can click here for the full report from On Numbers.

Medical Properties offering $200M in senior notes - Fri, 03 Feb 2012 16:19:29 +0000
Medical Properties Trust Inc. today said it would offer $200 million in senior shares in another move to finance the planned acquisition of Ernest Health Inc. The Birmingham-based company (NYSE: MPW) said it will offer the notes at an as-yet undisclosed time through its operating partnership, MPT Operating Partnership LP, and a subsidiary, MPT Finance Corp. In addition to the acquisition of Ernest Health, which was announced Jan. 31, the company said the offering would be used for debt repayment, future acquisitions and investments, among other things...

Center Point OKs plan to turn debris into wood chips - Fri, 03 Feb 2012 13:02:50 +0000
A $15,000, 30-day contract to turn debris from the January 23 tornado into wood chips was approved by the city of Center Point on Thursday. According to the Birmingham News, H & H Line Clearing of Gadsden was awarded the contract at an emergency called meeting. City council members also authorized Mayor Tom Henderson to begin seeking proposals for tornado debris removal.

$122M C-RAM contract awarded to Northrop - Fri, 03 Feb 2012 12:41:18 +0000
A $122 million contract to install and sustain Counter-Rocket, Artillery and Mortar (C-RAM) systems at bases in Iraq and Afghanistan has been awarded to Northrop Grumman. According to the Huntsville Times, the contract includes options that could raise the value of the contract to $311 million. Officials said the C-RAM system, which first went into the field more than six years ago, provides early warning of incoming indirect fire.