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Top News Links: Tuesday, May 24

Appeals court reinstates FDIC suit involving Colonial Bank collapse

A federal appeals court in New York ruled 2-1 to revive a lawsuit in which the Federal Deposit Insurance Corp. accuses at least 13 major financial institutions of contributing to the collapse of Colonial BancGroup Inc. by selling it fraudulent mortgage-backed securities. BB&T acquired Colonial in 2009 after the FDIC closed Colonial, the biggest bank failure in the U.S. that year. —Winston-Salem Journal

Alabama Landfill Company Sues Residents for Expressing Environmental Racism

Some residents of Uniontown, Ala., are being sued for $30 million by Green Group Holdings LLC, the owner of Arrowhead Landfill, for complaining about noise, rodents and odor, which the company says is libel and slander. Green Group claims that those issues were resolved in 2011, when the company acquired the landfill. — Waste360

Walter Energy prevails over union bid in appeals court ruling

Walter Energy Inc defeated an attempt by union workers to salvage job contracts and keep retiree benefits after a judge upheld a lower court ruling allowing the bankrupt coal producer to reject labor agreements. In an opinion published May 19, U.S. District Judge David Proctor rejected an appeal by an affiliate of the United Mine Workers of America. — Reuters

Goodwyn, Mills and Cawood buys Georgia engineering firm

Goodwyn, Mills and Cawood Inc. announced that it has completed the acquisition of Stevenson & Palmer Engineering (SPE), a Georgia-based firm with more than 50 years of experience providing engineering and infrastructure services throughout the state. The combined expertise and scope of services provided by the two firms will fortify and expand their depth of resources, in addition to further establishing GMC’s footprint in the Georgia market. — Press Release

Farmers Home Furniture plans $10M Alabama distribution hub

Farmers Home Furniture announced plans today to invest $10 million in a new distribution center in northwest Alabama, creating up to 80 jobs and strengthening its expanding retail presence in the Southeast. — Made in Alabama‚Äč

Baldwin County manufacturer opens cryogenic vessel plant

Morganton Pressure Vessels has opened a facility in Bay Minette, initially employing 30 workers in the making of vessels capable of withstanding extreme high pressure, used in oil and gas exploration and other heavy industries. Morganton is a subsidiary of Baglioni Group SPA, based in Novara, Italy, with 11 locations and 800 employees worldwide across Europe, North America and China.  — Baldwin County press release

Most affordable housing in Alabama index

A new online index by SmartAsset finds which cities are most affordable by measuring housing costs relative to income data in cities across Alabama. At the top of the affordability index in Alabama are Attalla, Helena, Valley, Meridianville, Calera, Pinson, Tallassee, Millbrook, Chelsea and Moody. — Smartasset.com

New Map: School Funding Inequality, Often Measured By State, Is Far Worse Nationally Than You Think

School funding inequality isn’t limited to the oft-discussed state-level disparities — in fact, national spending differences paint an even bleaker picture.... A variety of studies have documented that some states — think Nevada, New York, Pennsylvania, and Illinois, among others — spend the least on poor students. A report released earlier this month by EdBuild echoed these findings, showing regressive school funding systems in many places. — The 74

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