Porter White & Company

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Porter, White & Company is an investment banking firm founded in 1975 by James H. White, III. Charles K. Porter joined the firm in 1984. The company provides investment management services as PW Advisers, Inc. and also operates a real estate brokerage. Its offices are located in the Steiner Bank Building at 15 Richard Arrington, Jr Boulevard North at 1st Avenue North.

The company was hired as financial advisors to the City of Birmingham by then-mayor Richard Arrington in 1977. Arrington credits the company with a number of successes during his administration as the city transitioned from an economy based on steel manufacture to a more diverse foundation inclunding banking and medical research.

In 2008 the company labored for five months on behalf of Jefferson County to negotiate with bondholders to resolve the county's $3.2 billion sewer debt crisis. They created a plan which combined regular sewer rate increases with the diversion of $37 million per year from education tax revenues and the general fund in order to prevent bankruptcy. The Jefferson County Commission rejected the proposal and terminated the company's contract.

References

  • Hubbard, Russell (July 4, 2008) "Jeffco sewer crisis adviser Porter, White & Co. released after plans not embraced." Birmingham News

External links

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