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CEOs in 10 Big Mergers to Get $430M: Equilar Study

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In this Nov. 17, 2014 file photo, Allergan CEO David Pyott, left, and Actavis CEO Brenton Saunders, are interviewed on the floor of the New York Stock Exchange. Pyott is set to rake in an estimated $100 million in “golden parachute” payments, according to a study done by pay-tracking firm Equilar at the request of The Associated Press. (AP Photo/Richard Drew)

In this Nov. 17, 2014 file photo, Allergan CEO David Pyott, left, and Actavis CEO Brenton Saunders, are interviewed on the floor of the New York Stock Exchange. Pyott is set to rake in an estimated $100 million in “golden parachute” payments, according to a study done by pay-tracking firm Equilar at the request of The Associated Press. (AP Photo/Richard Drew)

BERNARD CONDON, AP Business Writer

NEW YORK (AP) — This year’s flurry of corporate mergers may not pay off for shareholders in the long run, but one thing is for sure: The bosses who are selling their companies will do just fine.

The CEOs who’ve decided to sell in the 10 biggest U.S. deals this year are set to rake in an estimated $430 million in “golden parachute” payments, according to a study done by pay-tracking firm Equilar at the request of The Associated Press. Translation: It would take the typical American household 830 years of work to get what the average CEO will receive in one fell swoop.

The payoffs are often negotiated when CEOs are hired. They’re designed to compensate chief executives for losing their jobs and years of big pay so they won’t stand in the way of a sale that is good for shareholders.

But some critics say the packages are so lavish, they can be an incentive to strike iffy deals.

Among the grab-bag of goodies in some packages are selling bonuses, cash for agreeing not to join a rival, severance, cash to help pay taxes, and lump-sum compensation for giving up corporate cars and other corner-office perquisites. The biggest haul is in the form of stock that the CEOs arguably could have gotten if they didn’t sell. But they would have had to run their companies for several more years and, in many cases, hit certain performance goals.

Numerous studies have shown that many M&A deals are bad for shareholders of the combined companies in the long run. Since the financial crisis six years ago, big companies have mostly resisted the urge to merge. But not recently. On Monday alone two deals worth a combined $100 billion were announced: Halliburton’s bid for rival oilfield services company Baker Hughes and Actavis’ offer to Botox-maker Allergan.

So far this year, about $3.2 trillion worth of deals have been announced globally, the most since 2007, according to data provider Dealogic.

Some of the payouts in the 10 big deals this year kick in only if the CEOs both sell their companies and lose their jobs after the deals are complete, a higher hurdle than in years past. Some of the deals are still in negotiation, and most haven’t closed yet.

A breakdown of CEO pay in the biggest mergers in 2014:

—Allergan’s David Pyott: $100 million. Most of the money is in the form of stock options he was awarded in previous years. Those options have rocketed in value as Allergan shares have more than doubled in 12 months. Without the deal to sell to Actavis, Pyott would have had to wait four years for all the options to “vest,” which allows him to claim ownership and convert them to shares. If he loses his job after the deal closes, he gets to own them right away.

— Time Warner Cable’s Robert Marcus: $80 million. Marcus, who has been CEO for 11 months, will get the biggest severance payment in this list — $20 million, assuming his deal to sell to Comcast goes through. He also will receive $40 million worth of “restricted” shares meant to keep him working hard on the job for years. Normally, Marcus would have had to wait five years to pocket all the shares.

— Covidien’s Jose Almeida: $49 million. His pay for selling to rival medical device maker Medtronic will be mostly in the form of stock awards. He also will get $84,000 in “perquisites and benefits,” including 12 months of outplacement services.

— Biomet’s Jeffrey Binder: $45 million. Nearly all the pay is in stock awards that he would have had to wait years to receive if he didn’t sell the orthopedic products company. He gets this money even if he keeps his job, what’s known to pay experts as a “single trigger.” The April sale to rival Zimmer is still pending.

— Lorillard’s Murray Kessler: $45 million if his deal to sell to rival tobacco maker Reynolds American is completed. The pay includes $11 million in severance.

— Sigma-Aldrich’s Rakesh Sachdev: $34 million. The biggest contributor is stock options valued at $13 million that would vest immediately if his deal to sell to Germany’s Merck goes through. Sigma-Aldrich makes chemicals and other materials used in laboratories.

— Baker Hughes’ Martin Craighead: $29 million. The package includes $3.2 million in “long-time incentive” pay, based on 2013 figures in the company’s regulatory filings. If negotiations to sell to Halliburton fall through, Craighead would have to hit certain performance goals over three years to get all the money.

— Beam’s Matt Shattock: $29 million for selling the company that makes Jim Beam whiskey to Suntory Holdings in a deal that closed in May. The pay package included $8 million severance.

— DirecTV’s Michael White: $22 million. The package includes $5.5 million if he doesn’t jump to a competitor in two years after the sale to AT&T is completed.

— Forest Laboratories’ Brenton Saunders: Zero. Saunders had a “golden parachute” entitling him to $53 million, the third biggest haul on the list. But his payout required what compensation experts call a “double trigger”: He had to both sell his company and lose his job. In an unusual move, Saunders took over as boss of his acquirer, Actavis (see Allergan deal above).

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

 

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Trader Vic’s Returns to Its Oakland Roots

Trader Vic’s, the internationally recognized brand and birthplace of the original Mai Tai, has officially returned to its roots in Oakland. Originally founded in 1934 on San Pablo Avenue before moving to Emeryville, the hospitality giant has launched Trader Vic’s Outpost at Oakland International Airport’s Terminal 2. The new full-service location offers travelers breakfast, lunch, dinner, and cocktails in a 108-seat space designed to celebrate the city’s status as a top national food destination. Visit the website to read more.

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Oakland Mayor Barbara Lee cuts the ribbon at the official opening of Trader Vic’s Outpost and Plum Market at Oakland International Airport. She is assisted by U.S. Rep. Lateefah Simon as Port of Oakland Board President Stephanie Dominguez Walton, left, and representatives from Trader Vic's, Plum Market, look on. Photo courtesy of the mayor’s office.
Oakland Mayor Barbara Lee cuts the ribbon at the official opening of Trader Vic’s Outpost and Plum Market at Oakland International Airport. She is assisted by U.S. Rep. Lateefah Simon as Port of Oakland Board President Stephanie Dominguez Walton, left, and representatives from Trader Vic's, Plum Market, look on. Photo courtesy of the mayor’s office.

Oakland has always been a city of innovators, entrepreneurs, visionaries, and world-class hospitality. Trader Vic’s—the birthplace of the original Mai Tai – first opened in Oakland back in 1934 on San Pablo Avenue, long before becoming an internationally recognized global brand. 

More than 50 years after it moved to Emeryville, Trader Vic’s is returning to its roots. Oakland Mayor Barbara Lee touts the return as another victory for Oakland.

“My administration is deeply committed to backing businesses like Trader Vic’s and Plum Market—partners who invest in our city, uplift our local workforce, and support thousands of local jobs,” Lee said.

The latest Trader Vic’s – called Trader Vic’s Outpost – is located at the Oakland International Airport in Terminal 2 near Gate 25 and had a soft opening in August.

With 108 dining seats, 28 bar seats and a counter for standing-room customers, travelers from around the world can have a full-service restaurant and bar experience or take-out for those with planes to catch.

Open from 6 a.m. to 10 p.m., breakfast, lunch, dinner, cocktails will be served.

Trader Vic’s returning to its roots confirms Condé Nast’s decision to name Oakland the #1 Food City in America two years in a row, and just earlier this month, ranked Oakland #6 on their list of Best Cities in the U.S.! 

“The opening at OAK is incredibly meaningful for us,” said Rhett Rosen, CEO of Trader Vic’s Hospitality Group, according to the company website. “Trader Vic’s was born in the Bay Area, and this new location gives us the chance to welcome travelers with a taste of that original spirit before they take off. It brings together everything people love about Trader Vic’s — great cocktails, flavorful food, warm hospitality and a little sense of escape — in a place that connects Oakland to the world.”

Trader Vic’s is an Oakland institution and one of the region’s most recognizable hospitality brands, said Port of Oakland Director of Aviation Craig Simon on the web site.

“Travelers are increasingly seeking dining options that are memorable, locally rooted, and uniquely representative of the communities they are visiting. Trader Vic’s delivers all of that while providing a high-quality food and beverage experience for our guests. We are proud to welcome this hometown favorite to Terminal 2,”

The original Trader Vic’s in Oakland:  

In 1934, with an investment of $500, Bergeron opened his initially small restaurant at 65th Avenue and San Pablo, serving comfort foods for lunch and dinner and beers and whiskeys. As his clientele grew, so did his restaurant, expanding space and menu options. After visiting this establishment, famed San Francisco Chronicle columnist Herb Caen proclaimed that the “best restaurant in San Francisco is in Oakland.” 

There were as many as 25 franchises worldwide, including the U.S. Trader Vic’s is now headquartered in Martinez.

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Oakland Coal Terminal Backed by Trump Would Be Bigger, Dirtier Than Promised, Says Report

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East Bay residents have been fighting alongside No Coal in Oakland for more than a decade. Photo courtesy of No Coal in Oakland.
East Bay residents have been fighting alongside No Coal in Oakland for more than a decade. Photo courtesy of No Coal in Oakland.

A recent feasibility study commissioned by potential investors says an Oakland coal terminal backed by President Donald Trump could export 13 million tons a year — three times the amount estimated in an earlier environmental review.

Surprisingly, the report also contradicts developers’ and project advocates’ repeated pledges that the coal would be stored in a covered terminal. Instead, the millions of tons of coal shipped annually from inland states to the West Gateway terminal in Oakland would be stored in “two open-air bunkers,” with about 150,000 tons of coal per stockpile, before being sent overseas, according to the  recent report cited by the L.A. Times. (https://ruic.utah.gov/wp-content/uploads/2026/09/Port-Study-RUIC-Bulk-Commodity-Ocean-Terminals-Study.pdf)

Residents and clean air advocates have long expressed concerns that coal dust would worsen pollution in West Oakland and throughout the East Bay.

The proposed site of the Oakland Bulk and Oversized Terminal (OBOT) is located at the former Army base near the Port of Oakland, which developer Phil Tagami has been trying for years to turn into a shipping terminal despite determined community opposition.

Trump announced a $75-million investment in the project in June, about a third of its estimated cost. The new terminal would be the largest coal export site on the West Coast, transporting coal to Japan, South Korea, Taiwan, Vietnam and Malaysia, according to the Trump administration.

Opponents say a new terminal would undermine years of progress cleaning up the air in West Oakland, which has a history of disproportionate pollution and high asthma rates due to its proximity to the port and other industry.

According to No Coal in Oakland organizer Ted Franklin, who has been active for 11 years in the fight to stop the coal terminal, the report indicates that investors may be looking for a cheaper way to build the terminal.

“We were shocked but not surprised” by the report, Franklin said. “Basically, it seems that the plan now is to store open piles of coal, which is a less expensive project than creating a completely enclosed facility.”

The threats that the project poses are real, but it faces a lot of economic and legal hurdles, he said.

Coal production is in permanent decline worldwide, he said, wondering who was going to “invest money in an industry that has no future.”

Further, the project has not yet attracted big investors. “There’s no bank, no financing, no financial institution backing this,” he continued.

A major legal hurdle facing the project is the passage of Assemblymember Mia Bonta’s bill, AB 40, the Community-First Coal Review Act, signed into law by Gov. Gavin Newsom on Sept. 30.

The law requires developers of large-volume bulk coal facilities to complete a full Environmental Impact Report (EIR) under the California Environmental Quality Act (CEQA) before they can operate. 

The law was specifically designed to block or delay the coal terminal project.

The report to potential developers was produced by consulting groups Norda Stelo and Wood Mackenzie in July and released this month. It was commissioned by the Rural Utah Infrastructure Coalition, made up of eight Utah counties that are considering investing about $43 million into the terminal to receive Utah coal.

The consultants produced their findings after visiting Oakland, examining engineering documents and holding discussions with Savage Cos., a Utah-based transport and logistics company selected to operate the facility

Research has shown that coal terminal operations can be dangerous to public health. The ports of Los Angeles and Long Beach moved away from open-air coal and petroleum coke storage three decades ago.

The report says that the site could process 12 million metric tons, or 13.2 million tons, of coal each year, three times more than the terminal’s approved environmental impact report from 2002 and its 2012 addendum. Neither document mentions coal specifically, but rather bulk commodities.

The coal arriving in Oakland could also be dirtier then had been previously stated, according to the report. Project officials previously said the terminal would handle only high-grade western bituminous coal from Utah, but the recent report says it will also handle Powder River Basin coal from Wyoming and Montana, known to be much dustier.

Nor does the report mention plans to cover the rail cars to prevent pollution, though project officials previously promised they would only utilize coal transported in covered rail cars.

“It appears the developers want to build something much bigger and more polluting than anything they previously revealed, either in court or to the West Oakland community,” said Colin O’Brien, deputy managing attorney at the nonprofit Earthjustice, speaking to the L.A. Times.

The report indicates that the project may be much more expensive and take longer to complete than anticipated. The Energy Department estimates the terminal will cost about $231 million, but the report places the price at between $430 million and $625 million.

The terminal will take 53 months to complete according to the report, significantly longer than Trump’s promise of exports beginning in 2028.

Ted Franklin’s column, “Utah Study Blesses Investment in Oakland Coal Terminal but Leaves Key Questions Unanswered” is available at https://nocoalinoakland.info/utah-study-blesses-investment-in-oakland/

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COMMENTARY: BIG MAMA SAID: Don’t Throw Away the Gift Just Because It Came Wrapped Wrong

TEXAS METRO NEWS — Journalist and mentor Terry Allen reflects on the profound wisdom of his grandmother, Lucille “Big Mama” Allen, who believed that a person’s mistakes do not represent their total identity. Allen argues that many behavioral issues seen in young men are actually symptoms of undeveloped gifts that have been applied to the wrong environments.

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COMMENTARY: BIG MAMA SAID: Don’t Throw Away the Gift Just Because It Came Wrapped Wrong
David Allen

Big Mama had a way of seeing something in you before you could see it in yourself.

My grandmother, Lucille “Big Mama” Allen, came from a generation that believed in correction. I grew up in a household where somebody might tell you, “Go get me a switch.” You knew what that meant.

But age has taught me something: correction without direction can stop behavior, but it doesn’t always develop the person.

Sometimes what we call a young man’s problem is really an undeveloped gift.

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I learned that through mentoring.

I once worked with a young man who was gambling and running numbers. Now, I wasn’t going to celebrate the behavior. Wrong is wrong. But I also refused to believe his mistakes represented the totality of who he was.

I looked underneath the behavior.

This young brother understood numbers. He understood money, calculation and risk. His gift wasn’t gambling. His gift was his mind. So I introduced him to another image: Mansa Musa, the legendary African ruler whose name became synonymous with extraordinary wealth, commerce and economic power. to The message was simple: You already have something inside you. Now what are you going to do with it? That young man redirected his abilities. What had been operating in the wrong environment found purpose through education, accounting and legitimate business. Today, he has built a leading Bookkeeping firm in California’s East Bay.

That is what mentoring can do. It is also why I created programs like City MenTor and why, for 25 years, City Men Cook has celebrated fathers, mentors and men who show up. Mentoring isn’t creating somebody in our image. It is helping somebody recognize what God already placed inside them. I thnaks GOd for allys ike Pastor Keith Lofton who helpe me keep the programs grunded in Faith.

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Scripture tells us to “fan into flame the gift of God.” — 2 Timothy 1:6.

Somebody reading this has a gift that survived mistakes, disappointment, rejection, bad decisions and maybe even your own attempts to bury it.

But it survived.Now comes the question Big Mama might ask

Baby, if God restored your gift, who are you using it to restore?

Don’t just celebrate your comeback. Reach back. Find somebody whose gift came wrapped wrong—and help them unwrap it.

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Kobie Da Wiz, Terry Allen and Pastor Keith Lofton Credit: David Allen

Big Mama said: Don’t throw away the gift. Redirect it. Develop it. Then give it away.

Terry Allen is an NABJ award-winning Journalist, DEI expert, PR professional, and – Vice President at FocusPR, founder of the charity City Men Cook, and Dallas Chapter President of NBPRS.org

Based on reporting by Texas Metro News.



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Black History

Columbus’s Oldest Businesses Still Open: 10 That Have Lasted 75+ Years

COLUMBUS TIMES — Columbus, Georgia, traces its commercial roots to the early 19th century, when the Chattahoochee River and local cotton mills fueled a burgeoning regional economy. While the city has transformed into a modern hub for banking and manufacturing, a select group of businesses and institutions have managed to survive for more than 75 years.

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Columbus’s Oldest Businesses Still Open: 10 That Have Lasted 75+ Years
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The historic Springer Opera House in downtown Columbus, Georgia, opened in 1871 and stands as one of the city’s oldest surviving cultural institutions.

Some Columbus businesses have been around longer than the automobiles, shopping centers and neighborhoods that now surround them. A handful date back to the 1800s, when cotton mills powered the local economy and the Chattahoochee River carried goods between communities. Others survived the Great Depression, two world wars, economic downturns and decades of changing consumer habits.

While hundreds of businesses have opened and closed across Columbus over the generations, these 10 have histories stretching back at least 75 years. Some remain family-owned, while others have survived mergers, ownership changes or major transformations. Together, their histories tell the story of how Columbus grew from a riverfront trading town into a regional center for banking, manufacturing, commerce and culture.

This list includes businesses, commercial institutions and their surviving successors with documented Columbus roots before 1951. It is not a definitive ranking of every surviving business, and several entries have changed ownership, names or operating models over time.

1. Columbus Ledger-Enquirer — 1828 (198 Years)

One of Columbus’s oldest surviving commercial institutions is its longtime newspaper, the Columbus Ledger-Enquirer. Its history began in 1828 with the founding of the Columbus Enquirer, the same year Columbus was established. The Columbus Ledger followed in 1886, and the two newspapers eventually became a single publication in 1988.

Over nearly two centuries, the newspaper has documented wars, elections, industrial expansion, economic downturns and major changes throughout the Chattahoochee Valley. Its ownership changed again in July 2026, when the Georgia Trust for Local News purchased the Ledger-Enquirer from McClatchy. The newspaper continues operating, although the modern publication is the product of mergers and transformations rather than an unchanged business established in 1828.

2. Willcox-Lumpkin Co. — 1848 (178 Years)

Insurance agency Willcox-Lumpkin traces its history to 1848, making it one of Columbus’s oldest documented commercial enterprises. Historical city directories identify the business as an insurance agency that protected homes, businesses and property long before automobiles became common. The company remained associated with generations of the Willcox and Lumpkin families.

Its history is supported by advertisements appearing in Columbus directories more than a century ago. Georgia Secretary of State records currently list Willcox-Lumpkin Co. as active and in compliance, with its corporate registration dating to December 1923. That distinction matters because the business’s claimed operating history is considerably older than its present corporate registration.

3. Springer Opera House — 1871 (155 Years)

The Springer Opera House opened in 1871 and became one of the city’s most important entertainment destinations. Built by businessman Francis Joseph Springer, the theater attracted nationally recognized performers and helped establish Columbus as a cultural center. Its ornate Victorian architecture remains one of downtown’s most recognizable landmarks.

The Springer nearly disappeared during the 1960s after declining attendance and years of deterioration. Preservationists rescued the building, and theatrical performances returned in 1965. Although it has not operated continuously in the same form, the Springer remains an active performing arts institution and an example of how historic properties can find new economic life.

4. Schomburg’s Jewelers — 1872 (154 Years)

Few Columbus retailers can claim a family history as long as Schomburg’s Jewelers. Carl Frederick Schomburg established the jewelry business in 1872 after working as a clockmaker, and the company gradually expanded into watches, jewelry and other luxury goods. Five generations of the family have been associated with the business.

Today, Schomburg’s operates on Rollins Way and identifies itself as Georgia’s oldest fifth-generation jeweler. Its longevity reflects a business model built around specialized craftsmanship, customer relationships and family continuity. While many traditional jewelry stores have disappeared or become part of national chains, Schomburg’s has maintained a recognizable local identity.

5. Goldens’ Foundry & Machine Co. — 1882 (144 Years)

Two brothers, Theodore and J. Poitevent Golden, established Goldens’ Foundry & Machine Co. in 1882. The company began as a small foundry and machine shop during an era when Columbus was expanding rapidly as a manufacturing center. Its products helped supply the machinery and industrial equipment needed by businesses throughout the region.

More than 140 years later, the business remains associated with descendants of its founders. Goldens’ continues manufacturing industrial castings while also developing consumer products through its Goldens’ Cast Iron brand. Its survival is especially significant because many of the textile mills and industrial operations that helped create its original market have long since closed.

6. W.C. Bradley Co. — 1885 (141 Years)

The W.C. Bradley Co. traces its origins to 1885, when William Clark Bradley entered the cotton business in Columbus. Over time, his growing enterprise expanded into groceries, fertilizer, transportation, manufacturing and financial services. The company eventually became one of the most influential business organizations in the Chattahoochee Valley.

Its business interests helped shape the development of modern Columbus, including the city’s banking and manufacturing sectors. The company also became closely associated with Char-Broil, the nationally recognized outdoor cooking brand. Today, W.C. Bradley Co. maintains its corporate headquarters near the Chattahoochee River, continuing a business legacy that began when cotton dominated the regional economy.

7. Synovus Banking Legacy — 1888 (138 Years)

The banking institution that became Synovus began in 1888 with the establishment of two Columbus banks. According to company history, the idea developed partly from the need to provide textile workers with a safe place to keep their earnings. Those early banking operations eventually evolved into Columbus Bank and Trust and later Synovus Financial Corporation.

A major change occurred in January 2026 when Synovus merged with Pinnacle Financial Partners, ending its existence as an independent corporation. The combined organization continues serving Columbus customers under the Synovus name during the transition to Pinnacle branding, which is scheduled for 2027. Pinnacle also announced plans in June to expand its downtown Columbus workspace, reinforcing the city’s continued importance to the banking operation.

8. Dinglewood Pharmacy — 1918 (108 Years)

Dinglewood Pharmacy opened on November 13, 1918, and became one of Columbus’s most recognizable neighborhood businesses. While generations of customers have visited for prescriptions and pharmacy services, the business is equally famous for its traditional lunch counter. Its signature scrambled dog has become closely associated with Columbus food culture.

The pharmacy celebrated its centennial in 2018, an achievement relatively few independent neighborhood businesses reach. Its ability to combine traditional pharmacy services with a popular local dining experience has helped preserve its reputation across generations. Dinglewood remains an especially visible example of a business whose appeal extends well beyond the original service it was established to provide.

9. Striffler-Hamby Mortuary — 1923 (103 Years)

Striffler-Hamby Mortuary traces its business history to 1923, when David Abraham Striffler opened his own funeral establishment in downtown Columbus. Striffler had entered the local funeral industry in 1908 before eventually establishing an independent operation. In 1930, he moved the business into a building constructed specifically for funeral services.

The mortuary became an established name as generations of Columbus families turned to it for funeral arrangements. Today, the business operates as part of the Dignity Memorial network, showing how a longstanding local institution can continue under different corporate ownership. Its history also offers a look at how funeral services evolved from small undertaking establishments into modern funeral homes.

10. WRCG Radio, Originally WRBL — 1928 (98 Years)

Columbus entered the broadcasting era on May 10, 1928, when WRBL began transmitting radio programs to local listeners. The station was established through the efforts of early radio pioneer Bill Lewis and became the city’s first radio broadcasting operation. Its original programming helped bring news, entertainment and live events into Columbus homes.

The station eventually changed ownership, frequencies and call letters, becoming WRCG in 1977. Historical research by Columbus State University and Historic Columbus confirms the connection between the original WRBL radio operation and its later identity. Today, WRCG represents a surviving broadcasting legacy that predates television’s arrival in Columbus by approximately 25 years.

What These Businesses Reveal About Columbus

The survival of these institutions reflects the major industries that shaped Columbus over nearly two centuries. Banking, manufacturing, retail, insurance, entertainment and communications all played important roles in the city’s economic development. Several businesses adapted to changing markets, while others survived by maintaining relationships with generations of local customers.

Their histories also demonstrate that longevity does not necessarily mean remaining unchanged. Some businesses were acquired by larger corporations, others moved into new industries, and several preserved their names despite major changes in ownership. For Columbus residents, these institutions provide a tangible connection to the city’s past while continuing to influence its economic and cultural identity.

Source: Historic Columbus Foundation; Columbus State University Archives and Special Collections; Georgia Historical Society; New Georgia Encyclopedia;

Based on reporting by Columbus Times.



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Lawyer-Turned-Contractor Hones Focus on Redeveloping Properties for Housing

BAY STATE BANNER — Donald Donnalson spent his childhood summers assisting his stepfather with contractor work, a job he initially disliked and vowed to never pursue professionally. After earning degrees from Boston College and Northeastern University Law School, Donnalson practiced law for several years before a return to contracting reignited his interest in the field. In 2011, he launched Beantown Builders, Inc.

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Donald Donnalson, CEO Beantown Builders, Inc. PHOTO: TITUS MEDIA BOSTON
Donald Donnalson, CEO Beantown Builders, Inc. PHOTO: TITUS MEDIA BOSTON — PHOTO: TITUS MEDIA BOSTON

Banner Business Sponsored by The Ujima Project

At a young age, Donald Donnalson helped his stepfather with contractor work during his summers off. He always hated it back then and vowed to never go into the profession.

After earning degrees from Boston College and Northeastern University Law School, he practiced law for a number of years. But when his stepfather asked for help with contracting as an adult, Donnalson “caught the bug.” He launched Beantown Builders, Inc. in 2011, which now focuses on housing builds including multifamily conversions, redevelopment of underutilized properties, and accessory dwelling units throughout Greater Boston and eastern Massachusetts.

“There are a lot of contractors in Massachusetts, and discovering what your niche is — for any entrepreneur, but especially in this industry — is super important,” he said, adding that their housing niche is important for its impact on the community.

“Greater Boston faces significant housing affordability and availability challenges, and we think that existing properties represent an opportunity to create additional housing without always requiring entirely new developments,” he said.

Donnalson started his company with incredible personal investment. He left his role as a finance manager for Audi Natick and liquidated his 401k to jumpstart the business.

“I basically just bet on myself. I didn’t have a project. I didn’t have anything. I was just like, I’m gonna go do this because if I don’t do it now, I’m never gonna do it,” he explained.

Today his minority-owned business is addressing the need for more housing while helping dispel broader distrust of contractors.

“Seeing a company like ours in the community that’s willing to learn more, do more, take on these experiences, and fill the gap where there seems like there’s not enough of us around is a big help,” he said, later adding that, “as an MBE [Minority Business Enterprise], we’re focused on building more than a successful construction company. We’re developing the people, systems and capabilities to take on increasingly complex projects while contributing to housing opportunities, economic development and the communities we serve.”

For Director of Marketing Alicia Zuniga, their mission helps guide the work and build trust with customers. Beantown’s clients are a mix of homeowners, families and property investors.

The team “understands construction is about much more than buildings. Behind every project are people with goals, expectations and important decisions to make,” Zuniga said.

Donnalson said one of the biggest obstacles he currently faces is attracting and keeping the best talent to help on projects, which have taken the team as far south as Fall River and North Attleboro and as far north as Lynn.

They recently supported The Guild nonprofit in constructing a community-oriented urban space, turning a hillside into public green space with paths and areas to gather. Landscape architects at Landworks Studio designed the urban forest project while Beantown supported the build, including masonry and permeable paving.

“Projects like this reflect our belief that construction can do more than improve individual properties; it can also contribute to the neighborhoods and communities around them,” Donnalson said

Based on reporting by Bay State Banner.



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Black Household Wealth Plummeted 25% in Three Years, New Data Shows

MICHIGAN CHRONICLE — A new analysis of Federal Reserve data reveals that median wealth for Black households dropped 25% between 2022 and 2025, falling from $49,100 to $36,800. This decline occurred while White, Hispanic, and Asian households experienced increases in their median net worth, further widening the national racial wealth gap.

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Photo: iStockphoto / NNPA
Photo: iStockphoto / NNPA

Median wealth among Black households fell 25% between 2022 and 2025, widening the racial wealth gap even as White, Hispanic, and Asian households saw their median net worth increase, according to a new analysis of Federal Reserve data.

Center for Economic and Policy Research (CEPR) director of race and economic justice, Algernon Austin, shared in an analysis published Tuesday (October 13) that median wealth among Black households fell from $49,100 in 2022 to $36,800 in 2025, a 25% decline.

In comparison, median wealth reached $332,100 for White households, $79,600 for Hispanic households, and $677,600 for Asian households in 2025, according to CEPR.

While Black households lost wealth, these groups saw their median wealth increase between 2022 and 2025. In 2025, Black households’ median wealth was $179,100 below the national median, up from a $162,000 gap in 2022.

Austin’s analysis suggests declining home, vehicle, and retirement account values contributed to the drop. The share of Black households with nonfinancial assets also declined from 81% to 78.4%.

The findings come as broader household wealth gains slowed and financial strain increased.Reuters reported earlier this month that the Federal Reserve’s latest Survey of Consumer Finances found the share of families spending at least 40% of their income on debt payments rose from 6.5% in 2022 to 8.6% in 2025.

The latest findings add to longstanding concerns about the racial wealth gap. A 2017 report by Prosperity Now and the Institute for Policy Studies projected that median Black household wealth could reach zero by 2053 if existing trends continued, raising questions about the long-term financial security of Black families.

That figure was a projection based on trends at the time, not a confirmed outcome.

The Black Information Network is your source for Black News! Get the latest news 24/7 on The Black Information Network. Listen now on the iHeartRadio app or click HEREto tune in live.

Based on reporting by Michigan Chronicle.



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