Top Headlines: Lawsuit against BBVA, ZF pitches external airbags

Lawsuit against BBVA critical of its investment planning
A lawsuit filed Thursday against BBVA called its 401(k) plan “the investment equivalent of stuffing cash into a mattress.” The proposed class action lawsuit, filed in the Northern District of Alabama against BBVA Compass Bancshares, deals with the Compass SmartInvestor 401(k) Plan. The suit was filed on behalf of two Alabama residents who were members of the plan. –

ZF pitches external airbags, which don’t explode in your face
If you ever wanted to protect your car with bubble-wrap, German supplier ZF has the feature you’ve been waiting for. A new airbag that deploys from the side of a vehicle before a collision can reduce the severity of occupant injuries 40%, according to ZF, which has an Alabama footprint and is bidding to become a major force in safety engineering along with its expertise in steering and transmissions. The system could be on a production vehicle in four years. – USA Today

Unfortunately named Dressbarn closing 62 locations
Dressbarn is closing all stores by the end of the year, with more than 60 locations ceasing operations by the end of August. The company released a list showing the two rounds of closures: nine in July and 53 in August. Twenty five locations closed in June. One store in Alabama – located in Huntsville at Valley Bend at Jones Farm – will close in August. –

Regions reports second quarter earnings of $374 million
Birmingham’s Regions Financial Corp. on Friday announced a second quarter net income of $374 million, an increase of 3 percent compared to the second quarter of 2018. Earnings per diluted share from continuing operations were $0.37, a 16 percent increase. –

Nast elected chairman of ABA board
Progress Bank President and CEO David Nast was selected last week as the new chairman of the Alabama Bankers Association Board of Directors. The Alabama Bankers Association serves as the voice of the banking industry in Alabama and as the industry’s official advocate before state and federal government. The Alabama Bankers Association chose Nast during its annual convention. Nast is founding director and CEO of Huntsville-based Progress Bank. – AL Political Reporter

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Hubbard clearly going for the record: Convicted in 2016, still not in jail
The public is still waiting for justice as the Alabama Supreme Court diddles on its ruling in The State of Alabama v. Michael G. Hubbard. Republican Speaker of the House Mike Hubbard was indicted on felony ethics violations in October 2014. He was found guilty by a jury of his peers in June 2016. It is now July 2019, and his appeal is still pending a ruling by Alabama’s highest court. – AL Political Reporter

Dollar stores on every corner may not be the blessing we thought
Big chain dollar stores are opening up in more small towns all across America, but not everyone is happy about the new businesses. Critics say discount chains like Dollar Tree and Dollar General put multiple stores in lower income areas, threatening existing Mom and Pop stores as they take customers. – ABC

Imaging company partners with Children’s of Alabama
Apollo, a leading provider of enterprise imaging and clinical multimedia management solutions, today announced a contract with Children’s of Alabama to address suspected child abuse and neglect with its Clinical Convergence Enterprise Imaging Solution. Children’s of Alabama selected Apollo after a vetted process to identify a solution that could handle the complexity and security needed to support the hospital’s Suspected Child Abuse and Neglect department. – News release

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