3 months ago

Alabama Power Foundation shares strategies for securing best investments to support communities, workforce growth

As the state’s largest corporate foundation, the Alabama Power Foundation is a force for good, investing nearly $13 million in communities in 2018.

As the Alabama Power Foundation celebrates three decades of service, that focus includes sharing strategies to make the greatest impact possible in Alabama communities. Foundation members held an impact investing roundtable that included about 30 investment partners, who exchanged ideas about investment strategies.

Myla Calhoun, president of the Alabama Power Foundation, said the foundation is pleased to share its work in impact investing with its community partners. During the meeting, the foundation asked its partners from Rockefeller Philanthropy Advisors to provide expert insight around impact investing with local foundations, investment firms and nonprofits.

“We wanted to discuss how it can work to really help grow our communities, which is fundamentally very important to the work we do in the foundation. We spend a lot of time in documenting this work – we’re very thoughtful, both from a workforce and business development aspect,” Calhoun said.

Calhoun noted that investments are made with the intention of generating social impact alongside a financial return. A foundation advisory group considers the charitable impact, profitability and the cost of debt.

The foundation’s 2019 investment portfolio has supported projects addressing such issues as opioid addiction, community development and workforce education. The foundation is now starting to see a desire for this type of tool grow in communities across the state.

Charitable Giving Specialist Allison Swagler-Webb said that the foundation – uniquely positioned to help communities and nonprofits with its assets – wants to grow an impact investing network in Alabama in 2020.

“Our project pipeline is growing rapidly,” Swagler-Webb said. “There’s a real appetite for this type of funding across our state so we want to use what we have learned over the past year to help other foundations get started using these financial tools, as well.”

The meeting provided new insight and inspiration for Daisy Homolka of Alabama Capital Network, a community economic development organization that facilitates growth of Alabama’s entrepreneurial ecosystem.

“I’m really excited to see investing in for-profit business that have financial investments in charitable works, with the focus on helping nonprofits achieve their goals,” said Homolka, ACN business analyst and Venture for America Fellow.

“The work is a great opportunity to marry those philosophic interests with charitable and philanthropic interests,” said Homolka, who graduated from Barnard College in New York with a math and economics degree. “Now, when I see a company that will bring jobs to Alabama, that has social impacts, as well, it can provide dual roles. I know that the Alabama Power Foundation will also give more opportunities to those types of companies to get funding.”

A newfound approach

Greg Ratliff, vice president of Rockefeller Philanthropy Advisors in New York,said he appreciates Alabama Power Foundation’s role in convening this group of investors and peers to help make philanthropy more thoughtful and effective.

“The Alabama Power Foundation’s approach is really exciting,” said Ratliff, who worked at the John D. and Catherine T. MacArthur Foundation and the Bill & Melinda Gates Foundation before joining the RPA team. “They’ve identified a handful of nonprofit and for-profit companies that are bringing goods and services to the region that are really helping address the needs of the low-income population in the area.”

“One of the more exciting things that we talked about is the idea of a collaborative fund that would bring outside investors into the region, pool their capital, and invest in important areas such as education, improving health outcomes, community and economic development, workforce development and areas that would create a more vibrant economy in Alabama,” he added.

Ratliff was excited take part in the roundtable meeting and to hear the plans of other philanthropic groups: “You want to shift to net positive benefactors for society. We want to generate both social and financial returns.”

(Courtesy of Alabama NewsCenter)

13 hours ago

Alabama’s Warrior Met Coal announces historic Blue Creek mine development

Brookwood-based Warrior Met Coal on Wednesday announced that they will begin development on a new “world-class” longwall mine near its existing mines located on the Blue Creek reserves in West Alabama.

Met coal is the type of coal sometimes referred to as coking coal. Unlike the thermal or steam variety, met coal is used as a vital ingredient in the steelmaking process instead of being utilized for power generation.

The new Blue Creek development is expected to have the capacity to produce an average of 4.3 million short tons per annum of premium High-Vol A met coal over the first ten years of production. It is one of the last remaining large-scale untapped premium High Vol A met coal mines in the U.S.

“We are extremely excited about our organic growth project that will transform Warrior and allow us to build upon our proven track record of creating value for stockholders. Blue Creek is truly a world-class asset and our commitment to this new initiative demonstrates our continued highly focused business strategy as a premium pure-play met coal producer,” Walt Scheller, CEO of Warrior Met Coal, said in a statement.

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The company expects to invest approximately $550 to $600 million over the next five years to develop Blue Creek with expected spending this year alone of approximately $25 million to kickstart the project.

Based on the current schedule, Warrior Met Coal expects first development tons from continuous miner units to occur in the third quarter of 2023 with the longwall scheduled to start up in the second quarter of 2025.

The company trades on the New York Stock Exchange and as such must report specific financial details on the project. This included the company projecting a “net present value” of “greater than $1 billion over the life of the mine with a projected after-tax internal rate of return (IRR) of nearly 30% and an expected payback of approximately two years from initial longwall production.”

Warrior Met Coal previewed this project at a Yellowhammer News event in 2019.

RELATED: Study: Alabama coal industry has nearly $3 billion impact; met coal reserves to last centuries

Sean Ross is the editor of Yellowhammer News. You can follow him on Twitter @sean_yhn

13 hours ago

‘Gender is Real Legislative Act’ advanced by Alabama House committee

MONTGOMERY — The Alabama House State Government Committee on Wednesday advanced the “Gender is Real Legislative” (GIRL) Act.

The bill, HB 35, is sponsored by State Rep. Chris Pringle (R-Mobile). Pringle is the chairman of the committee. The vote on Wednesday was 8-4 on party lines in favor of giving the legislation a favorable report. The GIRL Act now heads to the full House for consideration.

HB 35 would require Alabama public schools to make sure every entrant in an athletic competition is sorted by the gender on their birth certificate. The bill also forbids any state, county or municipal government/agency from providing a facility to a single-gender competition that allows a transgender entrant.The GIRL Act exempts any event that is specifically designed to have both boys and girls as competitors.

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“Gender is real. There are biological differences between boys and girls that influence athletic performance. The GIRL Bill seeks to support female student-athletes, so that they may compete against each other and not have to compete against male students with an unfair advantage,” Pringle has stated. “Liberal Democrats are always trying to accuse us of refusing science, but gender is a real biological truth. It truly defies logic that anyone would deny science and want male students to compete in female sports.”

During Wednesday’s meeting, a first-grade girl from the Birmingham area called on the committee to support the bill. The girl said it was only “fair” that student-athletes be sorted by the gender on their birth certificate and that she not have to compete against boys.

A full public hearing was held on the legislation last week, when State Rep. John Rogers (D-Birmingham) made some interesting remarks about Auburn legend Cam Newton while speaking against HB 35. Rogers in a subsequent interview then called for mandatory genetic testing of all public school student-athletes.

Pringle is currently running in the competitive Republican primary race for Alabama’s First Congressional seat being vacated by U.S. Rep. Bradley Byrne (R-Fairhope).

Sean Ross is the editor of Yellowhammer News. You can follow him on Twitter @sean_yhn

14 hours ago

Jessica Taylor ‘appalled and disgusted’ at Doug Jones’ abortion comments — ‘He is unfit’

Senator Doug Jones (D-AL) once again finds himself in a negative spotlight back in his homestate.

Jones was caught in a video on Wednesday laughing about abortion and mocking a question about the Pain-Capable Unborn Child Protection Act.

Jessica Taylor, a conservative Republican candidate in Alabama’s Second Congressional District, reacted strongly to Jones’ remarks.

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In a statement to Yellowhammer News, she said, “As a Christian, and as a mother, I am appalled and disgusted that Doug Jones would act this way.”

“Defending the unborn has been a pillar of my campaign since day one,” Taylor continued. “Doug Jones’ blatant disregard for the rights of the unborn further demonstrates that he is unfit to represent us in Washington. Pro-life values are Alabama values. As a conservative, I will always fight for our Alabama conservative values in Congress.”

Taylor has been endorsed by the prominent national pro-life group Susan B. Anthony (SBA) List in her AL-01 primary bid.

SBA List also bashed Jones’ latest comments in a separate statement.

“Senator Doug Jones has proven once again that he is no moderate when it comes to abortion on demand through the moment of birth. Alabama’s Democratic senator may think it is ‘stupid’ to question his abortion extremism, but rest assured, his constituents take respect for human life very seriously,” stated SBA List president Marjorie Dannenfelser.

“With a record of voting in favor of late-term abortion more than halfway through pregnancy and forced taxpayer funding of abortion, Sen. Jones has repeatedly betrayed Alabamians, siding with the radical abortion lobby and fellow extremist Democrats in Congress,” Dannenfelser concluded. “Their agenda is dramatically out of step with the people of Alabama and the strong majority of Americans – including 55 percent of Independents and 43 percent of rank-and-file Democrats – who support compassionate limits on abortion after five months of pregnancy, when science clearly shows unborn babies can feel excruciating pain. If Senator Jones refuses to protect innocent unborn children, he won’t be laughing come Election Day.”

Sean Ross is the editor of Yellowhammer News. You can follow him on Twitter @sean_yhn

14 hours ago

Reading aldotcom in large doses might affect your perspective, cognitive abilities and reasoning skills

How out of touch are al.com’s employees?

Very.

Read John Archibald or Kyle Whitmire any day and you will get that answer. These guys have been railing on Alabama government for years, and even they would tell you that they have done a pretty poor job of convincing anyone that their positions are the way the state should go.

To describe them as failures is an insult to actual failures like Hillary Clinton, who al.com obviously endorsed before she was obliterated by Alabama voters.

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So, it should come as no surprise that the average readers of al.com are equally as out of touch with the average Alabamian because they are consuming a daily digest of anti-Alabama liberal media bile that could best be described as irrelevant and antagonistic to the politics and culture of the state of Alabama.

Former Yellowhammer News editor-in-chief Cliff Sims said it best when he called them a sports blog with a liberal bias.

Because of this, it should come as no surprise that they are attempting to pass off an online poll of their readers as representative of anything close to the opinion of the state of Alabama, but here you go.

Actually, it doesn’t seem like that at all. Even Ramsey Archibald knows that.

Nationally, according to a Pew Research poll in late 2019, 69% of Americans favor some kind of legalization of marijuana. Of those who want to legalize marijuana, 59% want recreational and medical legalization and 32% want just medical legalization.

That’s a national poll — this is Alabama.

Love it or hate it, like the employees at al.com do, you have to acknowledge that there is nowhere near 83% support for recreational marijuana in this state.

Instead of legalizing marijuana, we might want to consider limiting the consumption of al.com for some of their readers whose brains are clearly being damaged by the content.

All polls like this do is show that the readership of al.com is far-left, out-of-touch and completely irrelevant in Alabama politics — just like the authors they read.

Dale Jackson is a contributing writer to Yellowhammer News and hosts a talk show from 7-11 am weekdays on WVNN.

15 hours ago

2020 Mardi Gras ships to be docked in Mobile February 21-26

The ships docked in Mobile for the 2020 Mardi Gras celebration will be the USS MCFAUL and the USCG CUTTER GANNETT, per an announcement from the Alabama State Port Authority on Wednesday.

The two ships will berth at GulfQuest on South Water Street in downtown Mobile. The USS MCFAUL is scheduled to arrive on February 21 at 11:00 a.m., and the GANNET is set to arrive on February 24 at 9:00 a.m.

Both ships will be available for touring by the public. The MCFAUL from February 22-25 and the GANNET on February 25-26.

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The MCFAUL is an Arleigh Burke-class destroyer, the 24th of its kind in the U.S. Navy. Her commanding officer is Commander Rusty J. Williams. The ship gets her name from war hero Petty Officer Donald L. McFaul (1957–1989).

The GANNET is a Protector-class Coastal Patrol Boat manned by the U.S. Coast Guard. When she is not being toured by the public, the GANNET protects America’s coastal waters and fisheries after launching from her homeport in Mobile.

Full information for the public tours included below as a courtesy of the Alabama State Port Authority and the United States Navy:

USS MCFAUL (DDG 74) Welcome Ceremony and Public Tours Info

  •   Welcome Ceremony:  11:00 am, CST, Friday, February 21, 2020. Alabama State Port Authority, Pier 2.  Gates open at 9:30 am (CST).
  •   Public Tours:  February 22-25, 2020 between the hours of 8:30 am – 11:00 am and 1:00 pm – 4:00 pm (CST) Pier 2 Terminal, downtown Mobile, Ala.
  •   The gate entrance is located on the north side of the Mobile Convention Center on Water Street, Downtown Mobile, Ala.
  •   The Public is welcome, but all visitors are required to wear closed toe/heel shoes and carry valid identification.  All guests will undergo security screening prior to entry to the facility.

USCGC GANNET Public Tours Info

  •   GANNET will moor at 9:00 am (CST) on February 24, 2020 at the GulfQuest Maritime Museum, 155 S Water Street, in downtown Mobile, Ala.
  •   Public Tours: February 24 between the hours of 11:00 am and 3:00 pm (CST), and February 25-26 between the hours of 10:00 am and 3:00 pm (CST).
  •   The Public is welcome, but all visitors are required to wear closed toe/heel shoes and carry valid identification.

Henry Thornton is a staff writer for Yellowhammer News. You can contact him by email: henry@yellowhammernews.com or on Twitter @HenryThornton95.