Top Headlines: PwC to pay over Colonial audits, USA to sell Brookley acreage

$200,000 Mercedes-Maybach GLS to be built in Alabama
Marysville, Ohio is the place where Acura puts together the NSX also known as the most expensive new car built in the United States. However, the electrified sports car will be dethroned in the months to come by the first-ever Maybach version of the GLS. Mercedes is expected to introduce the next generation of its full-size luxury SUV later this year, together with a high-end version with the double-M logo. Sources say the model will be built in Tuscaloosa. – Motor1

Regulator says PwC to pay $335 million over failed Colonial audits
A top U.S. banking regulator said on Friday that PricewaterhouseCoopers will pay $335 million to settle claims of “professional negligence,” after saying the auditor should have identified problems leading to the 2009 collapse of Alabama-based Colonial Bank. PwC did not confirm or deny the claims, but agreed to pay the settlement fine, the Federal Deposit Insurance Corporation (FDIC) said in a statement. – Reuters

USA Foundation to sell Brookley acreage for $45 million, hold wetlands
The University of South Alabama Foundation revealed Thursday that it has reached an agreement in principle to sell a huge swath of property near the Downtown Mobile Airport in a $45 million deal. According to information provided by the foundation, the buyer is 24/7 Development Partners of Alabama LLC. The company will buy about 290 acres between Mobile Bay and the Mobile Aeroplex. –

Brasfield & Gorrie begin work on South Carolina project
Construction has begun on the 17-story Falls Tower project in Greenville, S.C., Birmingham’s Brasfield & Gorrie announced Friday. The mixed-use facility, within the Camperdown development, will include seven floors of office space and more than 33,000 square feet of retail and restaurant space. There will be a floor of conference space, 18 condominium units on the top five stories of the building, and private garage units at ground level. –

Jones wants adjustment to bill in order to help restaurateurs
U.S. Senators Doug Jones, D-Alabama and Pat Toomey, R-Pennsylvania, have introduced bipartisan legislation that ensures restaurants and retailers can take full advantage of a 2017 tax law provision meant to spur renovations and investment. The 2017 Tax Cuts and Jobs Act made significant changes to the federal tax code, including allowing businesses to immediately write off costs associated with improving facilities, but an editing glitch blunted the impact for restaurants. – APR

- Sponsor -

Torch’s ‘Fire Pit’ sparks entrepreneurial flame
Executives at Huntsville tech company Torch Technologies are sparking the entrepreneurial spirit of their employees with a program called Fire Pit. Now in its third year, the program invites Torch employees to work as individuals or teams to come up with an innovative product or process —and pays sizzling cash prizes to the top four finalists. –

Shelby County on the hunt for qualified workers in several fields
Great news as Shelby County has a really low unemployment rate, but there are a few jobs employers are having trouble filling. Shelby County Chamber says that employers are constantly looking for qualified welders, forklift operators, and IT assistants. Another complaint by employers this year is finding folks to work with them that show up on time, have good communication skills, and understand the basics of what it means to be a good employee. – WBRC

The latest Alabama business news delivered to your inbox