Mom2aphysicsgeek, there is no doubt that companies recruit across multiple campuses, some great, some mediocre. Talented students can be found anywhere.
But I do not think job placement alone should be the deciding factor. Overall quality of the institution, strength of the program, institutional resources, cultural fit (on and off campus), intellectual experience etc…should also play a large role. Alabama and Michigan are not peer institutions. For students who cannot afford Michigan, Alabama may be a very good option. But for middle income and high income families in the state of Michigan, the University of Michigan is probably the best collegiate option they have.