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Top News Links: Tuesday, Dec. 15

Blount International agrees to buyout

The company started by Montgomery icon Winton M. "Red" Blount has agreed to a private buyout, 13 years after moving its headquarters out of Alabama. Blount International recently announced it has approved an offer from two equity firms for a deal worth about $855 million. It would be acquired by affiliates of American Securities and P2 Capital Partners, pending regulatory and shareholder approval. The public value of the global equipment manufacturer has plummeted this year with the downturn of overseas markets. – Montgomery Advertiser

What to know about your holiday drone

Drones are expected to be one of the hottest gifts for the holiday season. But buyer beware: here’s a lot more to owning a drone than taking home that new video camera. Drones are legal for non-commercial use only. And non-commercial drone owners must register their unit with the FAA by February or face fines of up to $250,000. – Montgomery Advertiser

Sister Schubert’s biggest habit is making dough

First of all, Sister Schubert is not a nun. What started in a home kitchen in L.A. (Lower Alabama) is now a veritable tide of 9 million rolls a day from three commercial bakeries. A sales juggernaut carries those rolls from coast to coast as well as to military base commissaries that feed the yeasty desires of fighting men and women around the world. – The Tennessean

Auburn’s Barth testifies overseas on banking

James Barth, Auburn University’s Lowder Eminent Scholar in Finance in the Raymond J. Harbert College of Business, testified Monday before the country of Georgia’s Constitutional Court about changes to the country’s central banking system. The Georgian Parliament recently passed legislation removing financial supervision from Georgia’s central bank, National Bank of Georgia, and creating a new Financial Supervision Agency. – OANow.com

Lockheed gets billion-dollar missile contract

The Huntsville facility of Lockheed Martin will share in a billion-dollar defense contract issued on Monday by the Department of Defense. The company’s Grand Prairie, Texas-based Missiles and Fire Control division was awarded a $1,094,983,588 foreign military sales to the nations of Korea, Saudi Arabia and Qatar. They are buying Patriot Advanced Capability production (PAC-3) missiles. – MagnoliaReporter.com

Redmont Hotel opening to walk-ins Dec. 29

The historic Redmont Hotel in downtown Birmingham has served guests from all over the world since 1925, and it's about to reopen its doors following extensive renovations to bring the skyscraper hotel into the 21st century. The hotel – which turned 90 this year – will open to only walk-ins on Dec. 29., according to hotel spokeswoman Laura Bento. – BizJournals.com

Three schools to merge around Alex City

The merger of Alexander City’s Central Alabama Community College (CACC), Southern Union State Community College and Chattahoochee Valley Community College is officially a go, said Susan Burrow, president of CACC who will also serve as president of the merged colleges. “The Board of Trustees voted unanimously last Thursday to approve the resolution of the intent to merge the three schools,” said Burrow. “Now we  look to the next steps.” – AlexCityOutlook

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