The Atlanta Falcons have partnered with Truist for a weekly series designed to help fans get to know the limited partners of the franchise.
Over the next 11 weeks, AtlantaFalcons.com will publish a Q&A with one of the 11 limited partners of the Atlanta Falcons. In these discussions, the limited partners share advice for navigating the world of business, their favorite Atlanta Falcons memories and so much more.
This week, Alan Kestenbaum shares his answers.
Alan Kestenbaum
Executive Chairman and Chief Executive Officer of Stelco; Kestenbaum founded Bedrock Industries in 2015, in partnership with Lindsay Goldberg, where he is its chairman and chief executive officer and is responsible for setting the vision, strategy, investment objectives and providing direction to achieve the strategic objectives of the company.
Kestenbaum was previously the Executive Chairman and founder of Globe Specialty Metals and Executive Chairman of Ferroglobe PLC (NASDAQ: GSM). Prior to forming Globe Specialty Metals, Kestenbaum founded Marco International, a leading international metals trader and investor, and led its expansion in North America and around the globe.
Why did you want to become a limited partner in the Atlanta Falcons organization?
I got interested in the investment side of football and felt football teams were undervalued when compared to other industries of similar characteristics in terms of content creation, especially when taking into account the scarcity value. I was introduced to a few other teams that were interested in selling partnership stakes. I met several, but no one exhibited the warmth, fairness, intelligence and integrity of Arthur Blank. He is a special man in every aspect of his life and he treats everyone, big or small, with the same respect and kindness. I have taken note of that particular trait and do my best to act the same to everyone that I encounter or work with no matter who they are.
When you look back at your career, what is something that makes you the most proud?
The fact that I have established a uniquely close relationship with the United Steel Workers union. I have always believed that happy workers who feel respected are one of the most important keys to success. As owners and managers, it is up to us to make smart decisions on capital deployment and strategic decisions, but no matter what , treating workers well, especially those on the factory floor, has brought me the best opportunities because the unions want an owner who cares about them and will do whatever they can to block out those who they don't like, even if a competitive offer for the company are higher than mine.
Can you briefly describe any philanthropic passions you have?
I contribute to many causes in Israel and the United States. Two basic areas I focus on are education and food insecurity. With respect to education, I believe we have fallen behind many countries around the world, and a poorly educated population will result in a weak economy and challenge the U.S.' leadership, which is critical for the world order.
My other passion is food insecurity. Two important causes in this area are Faremeals, run by my daughter, Arielle, and supported by the Arthur M. Blank Family Foundation, which provides nutritional education and food in conjunction with major hospitals such as Northwell and SMART in Harlem. Additionally, Colel Chabad, which has an annual budget of $150 mm and distributes food to food insecure families all over Israel.
What's the best business advice you've ever received?
My dad has always been my best advisor. Two anecdotes – once, I got in trouble in high school and he made me confess to the principal. When I asked him what happens if I get thrown out, don't get into college and end up digging ditches in New York. His response was, "That's fine, in 20 years you will own every ditch in New York."
The other advice was: "Always ask. It's your job to ask and their job to say no."
Who is your favorite player (Falcons or otherwise) of all time?
Growing up a Giants fan (after dropping the dismal Jets after the famous Dan Marino fake spike), my favorite player was Eli Manning. A simple, quiet, humble guy who pulled out two impossible Super Bowl wins against the hated Patriots. I hope that will change soon, as soon as we win one!
