The rail car industry is experiencing a resurgence--a very mild resurgence as of now. Yesterday National Alabama announced it had sold 95 rail cars to a rail leasing company. These cars are essentially already built, but lack some specialized finishing touches. In other words, there won't be any new employees hired to complete this contract.
CEO John Stein heralded the sale as "a great first step for our company and a milestone."Considering the lack of previous sales, almost anything would be a milestone for the Barton company, but what should we expect from this current thorn in the RSA's side compared to other rail car manufacturers?
Perhaps not much. It seems any upswing in rail car sales is related to an increase in coal sales to foreign buyers. The lighter the car, the more coal that can be transported. If coal sales should diminish, so would the need for new rail cars. Here's a projected comparison of National Alabama sales to two established companies in 2011.
Freight Car America (Chicago) -- 5,200
Trinity Industries (Dallas) -- 14,200
National Alabama (Barton) -- 200
To make matters worse for National Alabama, Trinity has signed an exclusive contract with its clients. According to the Wall Street Journal, the contracts will continue for at least five years.
So what, if anything, is National Alabama taking the lead in? We hear security has really put a dent in smoking in the men's rooms...
Unfortunately, Shoals leaders and business recruiters have reversed the thought in this particular version of the old Robert Johnson blues standard. They will shrug at the loss of a Ford plant, but call a press conference concerning a new paper clip business locating in an abandoned store front.
From the August 22nd TimesDaily:
Folks at the National Alabama railcar plant in western Colbert County are talking to two or more companies unrelated to the railcar industry about a business partnership that would lead to the 2.2 million-square-foot facility reaching production mode. National Alabama officials are mum about the rumors, though. One project appears to be further along than the others. Yes, that said 2.2 million square feet. Hmmm, a lot of flea market booths.
So, one of our frequent questions from readers is who exactly is in charge at National Alabama. Is it David Bronner or John Stein, plant manager? We would doubt that Dr. Bronner would have any interest in micromanaging the plant, if the word micro could apply to such a behemoth. As for actual legal owners and responsible individuals, this is the latest published data from the Alabama Secretary of State:
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The almost 70K square foot former Sears building on East Tennessee Street in downtown Florence is almost history. We predict a new medical office building coming soon.
The building housed Sears department store for approximately 41 years. After a fire and lying vacant for several years, the building was home to the central office of Martin Industries for approximately 20 years until the manufacturer went bankrupt in 2003.
Oddly, Sears seems to have provided many fond memories for Shoals residents, while Martin memories are less than pleasant--perhaps why the home heating honchos went bankrupt?
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Be sure to catch Trader's new blog on some Shoals menu staples: Link
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