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Top News Links: Friday, June 16

Façade leads to complications at Bon Ton Hatters project

Joseph McClure Commercial Real Estate has redeveloped much of 20th Street North, and as he's redeveloping the former home of Bon Ton Hatters, he faces an old problem. The building first went up in the late 1920s, and at some point in its history, a facade was put on the first floor. It's not historic, and McClure wants to bring it as close as possible to the original exterior. The problem? He's not exactly sure what's under the new exterior, or what condition it's in. – AL.com

Hellwig says tech stocks were overdue for an adjustment

Stock indexes around the world fell on Thursday as technology shares resumed their recent sell-off, while the prospect of tighter monetary policy pushed up the dollar. “The fundamentals in general still look favorable for tech. What we’ve seen, though, are some downgrades that are based on the fact that some ran up too quickly… and it has engendered a lot of fire sales in the tech industry,” said Bucky Hellwig of BB&T Wealth Management in Birmingham. – Financial Express

Ivey to lead Alabama delegation at Paris Air Show

Governor Kay Ivey will lead an Alabama delegation to next week’s Paris Air Show, where the state’s leading economic development specialists will seek to build on momentum in Alabama’s growing aerospace sector. Governor Ivey and a small working team from the Alabama Department of Commerce will engage in a series of scheduled meetings with high-level executives from aerospace companies based across the globe. – Made In Alabama

Gregerson recognized with public affairs honor

Food Marketing Institute this week recognized Peter V. “Greg” Gregerson, CEO of Gregerson’s Food and Pharmacy Inc., for two decades of government relations advocacy for FMI and the food retail industry on Capitol Hill in both Washington, D.C., and Montgomery. Gregerson’s three-store operation with a stand-alone drug store has been a mainstay in Gadsden. – Southeast Produce Weekly

State Bank Financial to acquire AloStar Bank

State Bank Financial Corp., holding company for State Bank and Trust Company, and AloStar Bank of Commerce announced the signing of a definitive agreement for State Bank to acquire AloStar in an all-cash transaction with a purchase price of one times AloStar’s adjusted tangible book value as of the last day of the month immediately before closing, currently estimated to be $196 million. – ABL Advisor

Golden Gate Capital acquires Express Oil

Golden Gate Capital, a leading private equity investment firm, has acquired Express Oil Change & Tire Engineers from Carousel Capital. Express Oil will remain headquartered in Birmingham and will continue to be led by its current management team, including CEO Ricky Brooks. – BusinessWire

Sales tax holiday for school supplies starts July 21

The back-to-school sales tax holiday will be held earlier this year, allowing people to save money on supplies before school starts. The tax will be exempt on certain items from midnight July 21 to midnight July 23. – WHNT

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