Top Headlines: UA may return Culverhouse millions, Wall Street slump

Thanks but no thanks: UA may return Culverhouse millions
The chancellor of the University of Alabama system this week asked the institution to return $21.5 million donated to its law school by Florida businessman Hugh Culverhouse Jr. Chancellor Finis St. John says he recommended that the school’s board of trustees return Culverhouse’s donation — the largest-ever gift to the institution — because of an “ongoing dispute” that stemmed from Culverhouse making “numerous demands” about the operation of the university’s law school. – Business Insider

Wall Street slump possible today after new tariff on Mexico
US stock futures and global stock markets, including shares of Asian and European automakers, tumbled Friday after President Donald Trump said the United States will impose a 5% tariff on all Mexican imports. Japan’s Nikkei (N225) slumped 1.6%, while South Korea’s KOSPI (KOSPI) was mostly flat. Markets in Europe also opened lower. Britain’s FTSE 100 index fell 0.8%. Stocks in Germany shed 1.3%, and in France they dipped 1%. – CNN Business

Legislature passes Alabama Incentives Modernization Act
The State Senate approved the Alabama Incentives Modernization Act Wednesday to modernize Alabama’s incentives to take advantage of federal opportunity zones, recruit businesses to rural counties and attract technology companies to the state. The AIM Act is a set of incentives designed to both spur job growth in counties that are experiencing sluggish economic conditions and to help bring new technology companies to the state. – Alabama Political Reporter

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Duluth Trading Co. sets opening for first Alabama store
There are grand openings of retail stores and then there are grand openings that feature “professional lumberjack show featuring head-to-head axe throwing, single buck, and underhand chop.”That’s the plan for the June 6 opening of Duluth Trading Co. at Town Madison in Madison. It’s the first Duluth Trading store in Alabama. The announcement Thursday about the opening featured the almost-boilerplate line of “a ribbon cutting ceremony with local dignitaries.” – AL.com

Auburn-Opelika sees 25 percent gain in construction employment
Construction employment grew in 250 out of 358 metro areas between April 2018 and April 2019, declined in 53 and was unchanged in 55, according to a new analysis of federal employment data released today by the Associated General Contractors of America. The largest percentage gain occurred in Monroe, Mich. (26 percent, 500 jobs) and St. Cloud, Minn. (26 percent, 1,500 jobs), followed by Auburn-Opelika, Ala. (25 percent, 600 jobs) and Norwich-New London-Westerly, Conn.-R.I. (16 percent, 600 jobs). – News release

Brasfield & Gorrie atop general contractor list for healthcare projects
A day after Modern Healthcare magazine named Birmingham’s Brasfield & Gorrie among the top general contracting companies in the nation, the contractor today rose to the top of the list. Brasfield & Gorrie originally placed No. 2 among the top general contracting companies in healthcare construction for 2018, in the magazine’s survey of construction and design companies. But Modern Healthcare now says Brasfield & Gorrie holds the top position, after another company misreported its total healthcare dollar volume for 2018. – AL.com

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