Director of programming Phil Geoffrey Bond watched the audience develop from his years booking cabaret acts at the 100-seat Laurie Beechman Theatre.

WSJ: Culture City: Don't Bury Cabaret Just Yet

Phil Condon, head of municipal bond portfolio management for DWS Investments, says he is selling regular munis to snap up more kicker bonds.

WSJ: SmartMoney: Watch Out! These Municipal Bonds Come With a Bit of a Kick

"We have been advised that there are investors who have chosen to avoid Alabama, generally, " says Phil Dotts, a managing director at PFM Group, who advises municipalities on bond deals.

WSJ: That's Not Our Problem, Says Birmingham