Army Corps of Engineers allocates $274 million to Port of Mobile widening project
The U.S. Army Corps of Engineers has allocated $274,300,000 for the Port of Mobile channel widening project. The funding, which accounts for the full federal share of the project cost, will initiate and complete construction of the deepening and widening of the navigation channel. Following the required preliminary steps, construction is expected to begin toward the end of the year. – NBC
UAB basic sciences complex approved for $78.5 million
The UA System Board of Trustees has approved a new $78.5 million science and engineering complex for UAB. The school said the initial phase of the complex will be home to its College of Arts and Sciences’ biology and physics departments, and have lab and support space for the chemistry department. – AL.com
Daimler profits slump as auto industry comes under pressure
Daimler AG, maker of Mercedes-Benz cars, saw profit slump in 2019 and turned in a loss for the fourth quarter, underlining the pressures on the auto industry from economic headwinds and the need to invest in electric cars to meet tougher European Union limits on greenhouse gases. Net profit for the full year fell to 2.71 billion euros ($2.94 billion) from 7.58 billion euros. – AP
Private prison company eyes Elmore County land for one of state’s new prisons
The private prison company CoreCivic for more than two years has been eying land just outside the city of Tallassee in Elmore county to build one of Alabama’s planned three new prisons, something several locals say they don’t want and weren’t aware of until last month. Meanwhile, the Elmore County Commission argues that the prison should be located on state-owned land where the closed Draper prison stands, about 30 miles west of the proposed site. – AL Political Reporter
BCA names Helena Duncan as director of strategic operations and growth
The Business Council of Alabama today announced the addition of Helena Duncan to the BCA team. She will serve as the newly created Director of Strategic Operations and Growth. She comes to BCA with over 30 years of experience in the financial industry, primarily at the executive management level. In her most recent position, Duncan served as Regional President for Liberty Bank & Trust, a bank with $600 million in assets. – AL Political Reporter
University of Montevallo raises nearly $36.5 million in campaign
The University of Montevallo announced it has raised nearly $36.5 million over the past seven years in the largest campaign of the school’s history. The money, which came through the “It’s About Family” campaign, was more than double the campaign’s original goal, and will benefit scholarships, campus improvements, faculty development and other initiatives. – AL.com
You can’t make a car with just 95 percent of the parts
The human cost of China’s coronavirus outbreak is tragic, mounting and already readily apparent. The cost to businesses around the world could also become severe in the coming weeks. Manufacturers around the world have come to depend on parts from China to keep their own supply chains going. Experts fear that factories across the globe could ground to a halt if many of the plants across China remain closed this coming week. – CNN Business
