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Portland Business Journal
The PBJ's Makers and Manufacturers awards nomination deadline nears
Attention all game-changers: Here's your chance to shine.<\p> The PBJ's 2024 Makers & Manufacturers Awards nomination deadline is fast-approaching (it's been extended to Aug. 4: You can make your nomination here), bringing with it the chance to both collect honors in a captivating and innovative sector as well as learn about a bevy of Portland-spawned or -developed advances.<\p>
Opinion: Why, when addressing homelessness, we all want the same thing
On June 28, the Supreme Court handed down a much-anticipated ruling on a case out of Oregon that directly affects people experiencing homelessness across the nation (City of Grants Pass v Johnson). <\p> By a vote of 6 to 3, justices empowered cities to enforce laws that prohibit people experiencing homelessness from sleeping outside, even when there are no safe alternatives. <\p>
Portland-area money manager buys a Tigard cohort
A Portland-area wealth manager has completed a deal that will fortify its client roster.<\p> Single Point Financial Advisors, of Beaverton, has bought the investment clients from Tigard's Southwest Financial Services. The move brings accounts from 115 new households to Single Point, according to owner Christy Aleckson. The one-time PBJ 40 Under 40 and Women of Influence honoree said the deal will move her firm up from the No. 44 spot on the region's Largest Money Management Firms list to at least No. 42. <\p>
Commissioner's comments renew Portland's WNBA hopes
After Portland was left out of WNBA expansion last year, hopes for pro women's basketball in the city have been rekindled with comments by the league's commissioner that it plans to keep adding new teams.<\p> "We have been talking with our teams' GMs and coaches and our owners about the expansion draft that will occur most likely in December of this year. We need to do it, then we have the draft lottery, then the NCAA season concludes, then we have our draft," Commissioner Cathy Engelbert told reporters at the WNBA All-Star game. "Our teams are aware. We'll make final decisions and make those announcements in the coming months."<\p>
IRS ERC moratorium could cost the agency billions
Efforts by the Internal Revenue Service to crack down on Employee Retention Credit fraud could cost the agency billions of dollars in interest payments.<\p> The IRS in an announcement in June said it had taken the time since its Sept. 14 moratorium on processing new ERC applications to analyze the more than 1 million ERC claims filed in 2023. Through that analysis, it found that between 60% and 70% of the applications showed an unacceptable level of risk.<\p>
Five Things to know for Monday: Beckham's win, a big restaurant pivot
We're approaching the dog days, Portland. July will be over before you can say "charcoal briquets" and August will end before you've even gotten to the beach. It's just been one of those summers.<\p> If you're in the office this week, here are a few pieces to talk about around the break room as you're grabbing your morning coffee. Or, whatever, talk about them all day, for all we care. They're good stories. Here are today's Five Things.<\p>
Lawyers battling PacifiCorp suggest collusion by utility, rival firms
The lead counsel in the big Oregon wildfire class-action lawsuit against PacifiCorp say they suspect three insurgent law firms are working with the company to settle cases at "a bargain-based price point."<\p> In a July 18 filing in Multnomah County Circuit Court, they asked a judge to explore the possibility of collusion by the utility and their rivals.<\p>
How a NW 23rd restaurant keeps up with changing hospitality industry
When Mediterranean restaurant Zula opened in 2023, it navigated a changed world of hospitality after the height of the pandemic. <\p> One year in, the restaurant is again adapting to changing needs, shifting from counter service to full service and adding a new chef with a hot resume, all while staying true to the owners’ goal. <\p>
OHSU-developed flu vaccine heads down the testing path
An OHSU-developed vaccine platform holds the potential for a “one and done” universal flu vaccine in five years or less.<\p> As described in a study published Friday in the journal Nature Communications, researchers measured the immune response in nonhuman primates exposed to the H5N1 influenza, or bird flu. The vaccine candidate, however, is based in the 1918 influenza virus.<\p>
Oregon wildfire hazard map: See how your property fares
Oregon has a new draft wildfire hazard map, two years after the first version raised a storm of controversy and was withdrawn. <\p> The Department of Forestry on Thursday posted the interactive map, required under comprehensive 2021 legislation enacted in the wake of the devastating Labor Day 2020 wildfires. Officials are encouraging Oregonians to check it out and give feedback by Aug. 18.<\p>
Nike vs OBJ: Beckham's lawyer on post-verdict tears, celebration
After a Multnomah County Circuit Court jury Thursday awarded no damages to either NFL star Odell Beckham Jr. or Nike in a royalties-turned-breach-of-contract case, Beckham’s lawyer Chad Colton of Markowitz Herbold said the three-time All-Pro wide receiver broke down in tears.<\p> They were happy tears, Colton explained: The possibility of having to pay Nike up to $15 million was really weighing on Beckham, he said.<\p>
Businesses, agencies ramp up backup systems after global tech outage
The global technology outage caused by a CrowdStrike update pushed to Microsoft Windows devices impacted everything from airlines to banks Friday morning — and reinforced the need for companies to have procedures in place to handle disruptions when they occur.<\p> Systems were gradually coming back on line by late morning.<\p>
PDX advises travelers to check flight status after Microsoft outage
A global Microsoft Corp. outage has caused major disruptions in air travel worldwide. <\p> A message on the Portland International Airport website advised travelers to check flight status.<\p>
Data startup with deep Portland ties lands $15M, plans to hire
Data startup Momento doesn't need an office to get work done.<\p> The company, which raised a $15 million Series A round Thursday, has embraced remote work since its founding in 2021. With co-founder and CEO Khawaja Shams, along with much of the engineering staff, based in the Portland area and co-founder and Chief Technology Officer Daniela Miao based in the Seattle area, the team sometimes meets in the middle, in Centralia.<\p>
Nike, Odell Beckham Jr. respond to Multnomah Co. jury verdict
Nike and Odell Beckham Jr. are both claiming victory in a royalties-turned-breach-of-contract legal battle.<\p> The footwear giant, the NFL star and their lawyers spent Wednesday and Thursday in a Multnomah County courtroom, where a jury delivered a verdict after a few hours of deliberation. <\p>
The top 10 richest neighborhoods in Portland
Trying to capture where wealth is most concentrated, American City Business Journals created its proprietary Business Journals Wealthy 1000 index this year, pinpointing the ZIP codes across the U.S. where per capita incomes, typical home values and four-year degree attainment were the highest, poverty rates the lowest, and population the densest. <\p> Based on 2022 American Community Survey data from the Census Bureau and Zillow real estate data, the 1,000 ZIP codes had a minimum per capital income of $70,000. <\p>
No damages awarded in Nike, Odell Beckham Jr. legal battle
After a few hours of deliberation, a Multnomah County Circuit Court jury on Thursday awarded no damages to either NFL star Odell Beckham Jr. or Nike in a royalties turned breach of contract case. <\p> Beckham sued Nike in 2022 alleging that the footwear and apparel giant withheld royalties owed to him under terms of a sponsorship deal. <\p>
Business group: Oregon has a $31B problem
A new report from a business-backed think tank estimates the cost of Oregon’s fentanyl crisis at more than $31 billion a year, five times what it was in 2017.<\p> Mark McMullen, vice president of policy and research at Common Sense Institute Oregon, concluded that although the Measure 110 drug decriminalization measure can’t be blamed for “all the disproportionate local impact of the fentanyl epidemic, it is clearly paying a role.”<\p>
Oregon public company's market cap, once at $1.2B, falls to $3,690
The strange case of Arcimoto and its status as a going concern got weirder this week.<\p> Shares in the Eugene EV maker (OTCMKTS: FUVV) fell on Wednesday from 12 cents to basically zero — one hundredth of one cent.<\p>
Portland firm finds a major ChatGPT advancement
Digital archiving firm Smarsh is rolling out an integration with ChatGPT that will allow its highly regulated customers to jump into the generative AI workflow. <\p> The new integration works with OpenAI’s ChatGPT Enterprise Compliance product, according to a release from Smarsh. The Portland company has built its business on capturing and archiving different forms of digital communication across platforms for customers that operate within such regulated businesses as financial services. <\p>
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