🎙️ Would you like to listen to or watch today's podcast episode? Click here.
|
|
|
|
Private companies: Better neighbors?
|
Elton Stephens founded EBSCO Industries. (File photo)
|
|
|
|
The pros and cons of taking a company public are well-known.
It's a wonderful way to drive capital into a promising business. The beauty of capitalism in a successful company is that people with the money fund the people who know how to run the business who pay the people with the skill to make it happen. If the collaboration makes money, the capital keeps coming.
The downside is that it comes with a whole lot more bosses. And the big new bosses at the shareholder's meeting may very well be interested when you tell them about the community loyalty and employee buy-in you are establishing in order to become a long-term institution. But you'll leave 'em with a bigger smile if they hear that this quarter's profit margin will be higher than last quarter's profit margin.
Ah, management might think, how I long for those LLC days when the whole world wasn't wrapped around that one metric.
It's in that spirit that Time Magazine brings us our list of the day. AL.com's William Thornton reports that it's the first time the news magazine has published a list of the 100 best privately owned companies in the United States.
What the list was looking for was great private companies that enjoy high employee satisfaction and a net positive impact on society, global knowledge, health and the environment.
The theory is that a non-publicly-traded company, as long as they pay their rent, payroll and light bill, might focus on long-term goals and being a decent neighbor. There are no shareholders seeing red even when you're in the black.
Time teamed up with the data firm Statista for its ranking. They looked at 500 privately-owned companies and ranked a top 100, and four are right here in Alabama:
No. 3: EBSCO Industries is a global conglomerate that is based in Birmingham and was founded by Elton Stephens Sr. It does publishing, digital media, information, real estate, manufacturing and insurance services.
No. 40: American Family Care, based in Birmingham, has more than 400 non-emergency-room urgent care clinics.
No. 45: DSI Security Service out of Dothan. It now has offices in 33 states.
No. 84: Books-A-Million, which began as a street-corner newsstand in Florence and is now the second-largest in book retail behind Barnes & Noble. It's also based in Birmingham.
The only companies to top EBSCO on the list were California-based outdoors retailer Patagonia and New York-based Wegmans Food Markets.
|
|
|
|
“I strongly recommend that you turn off your phone today and just take a long walk outside.”
|
|
|
|
| 💡 Did you know our free news app helps you stay updated with alerts and notifications? Download the App |
|
|
|
|
|
RIP Ed Reed, newspaperman
|
|
|
|
Ed Reed, who owned and published the Arab Tribune for more than 50 years, died in a house fire over the weekend, reports AL.com's William Thornton.
The Tribune reported that police said the fire appeared to be accidental and that no foul play is suspected.
Reed's uncle Ralph Reed founded the paper in 1958. When Ralph died in a bus crash six weeks later, Reed's dad, Ewell Reed, walked away from his job as a special agent in the FBI to move home and run the paper. Ed started in the mail room as a young child, then after graduating from Auburn took over the business in 1970. He published it until he sold it in 2023.
Ed Reed was 79 years old.
|
|
|
|
Athens-Limestone Hospital held a ribbon cutting for its new Acute Observation and Infusion Unit, which has that many beds.
|
|
|
|
🌟 Alabama is a state full of bold ideas, rich stories, big dreams and extraordinary women helping to make those dreams come true.
For over a decade, This is Alabama has proudly recognized hundreds of inspiring women across our state through our annual Women Who Shape the State awards. Now we’re kicking off nominations for the 2027 class — honoring leaders who uplift their communities and inspire others.
These women are transforming healthcare, education, business, and beyond. They’ve broken barriers, led with compassion, and redefined what leadership means in Alabama.
Know someone making a difference? Nominate them today and help us share their story.
Nominate Someone Today:
📝 Submit your nomination: Here’s the link!
📅 Deadline: August 21, 2026
📍 Celebration event: March 4, 2027, at The Club in Birmingham
🎖️ Honorees will be featured online, in our newsletters, and on social media
🔗 Sponsored by: Poarch Creek Indians
|
|
|
|
|
Alabama coach Kalen DeBoer oversees a recent practice. (Photo courtesy of UA Athletics' Kent Gidley)
|
The preseason Associated Press college football poll didn't bring anymore optimism to our state than the coaches poll did a couple weeks ago.
AL.com's Michael Casagrande reports that the University of Alabama was ranked 13th in the AP poll — two places lower than it did in the coaches poll. And once again Auburn received points but finished even further from breaking into the Top 25.
The No. 13 ranking is the lowest for the Crimson Tide in a preseason poll since 2008, when it started the season 24th in the nation.
The top 5 teams, in order, are Ohio State, Oregon, Georgia, Notre Dame and Texas.
Alabama opens the season No. 5 at home against East Carolina. On that same day Auburn will open against Baylor at Mercedes-Benz Stadium in Atlanta.
|
|
|
|
- In 1955, former major league catcher Bruce Benedict of Birmingham.\
- In 1958, actor Reg Cathey of Huntsville.
|
|
|
|
The annual Sidewalk Film Festival is preparing for its Aug. 24-30 run in downtown Birmingham. The "Sidewalk Cinema" sign is pictured before being attached to the side of the Pizitz building on Monday. (Photo by AL.com's Eric Kiekeben)
|
|
|
|
Start your morning with the latest news and stories from Alabama. Also, hear the stories behind the stories as Ike Morgan is joined by voices from the AL.com newsroom and beyond for deep dives on pressing topics, news quizzes and a lot more. Available Alexa, Amazon, Apple Podcasts, Spotify, and YouTube, and other favorite platforms.
|
|
|
|
You're all caught up 👏
Thanks for reading Down in Alabama. Stay updated with the latest AL.com news at AL.com. Value our work? Subscribe to support local journalism.
Enjoying this newsletter? Share it and explore more newsletters including subscriber-exclusive newsletters like:
🏛 Politics Plus
🏈 Kevin Scarbinsky
We appreciate you for taking the time to read today. Hope you're able to check back soon. In the meantime, email with any suggestions you might have.
Got this from a friend? Sign up so you never miss a day.
Thanks for reading,
Ike
|
|
|
|
Ike Morgan is host of the Alabama news-updates podcast "Down in Alabama with Ike Morgan" for AL.com. He is a 30-year journalist who has worked in several digital-media production roles and newspaper editing jobs, including senior editor and sports editor (of an APSE-award-winning staff) at the Tallahassee Democrat.
|
|
|
|
 |
| |
| |
| Get Back to What You've Missed |
| |
| Unlimited Digital Access |
| |
| $1 for 3 months |
| |
|
|
|
 |
| |
| Cancel anytime. |
| |
|
|
|
|
|
|
|
Was this newsletter shared with you?
Subscribe to AL.com to get every issue. Plus, check out our other newsletters!
|
|
|
|
|