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Portland Business Journal
Accusations keep flying as Providence nurses strike winds down
As the largest nurses strike in Oregon history wound down on Friday, recriminations from both sides grew more heated.<\p> First, the Oregon Nurses Association accused Providence of an illegal lockout and said the Oregon Health Authority confirmed that the system violated the state’s new nurse staffing law.<\p>
Nike accused of 'scheme to defraud' shareholders in new lawsuit
A Portland law firm filed a class action shareholder lawsuit Thursday against Nike and its two highest-profile executives, alleging they made “materially false and/or misleading statements” regarding its aggressive direct-to-consumer strategy.<\p> This lawsuit, filed June 20 in the U.S. District Court of Oregon, alleges that Nike, its CEO John Donahoe and its CFO Matthew Friend, did not properly disclose certain aspects of its direct-to-consumer strategy and as a result, “participated in a scheme to defraud” its shareholders.<\p>
Why bigger Pacific NW businesses are more optimistic about the economy
Umpqua Bank has issued its Business Barometer for six years. In none of those years was the gap between the outlook and plans of middle market companies and small businesses wider.<\p> The survey, conducted by Portland's DHM Research, indicates that "middle market optimism and key growth indicators have surged to six-year highs, while small businesses proceed cautiously as they manage persistent impacts of higher costs for goods and capital," the Lake Oswego-based bank wrote.<\p>
IRS announces when payments on ERC claims will resume
The Internal Revenue Service plans to deny tens of thousands of improper Employee Retention Credit applications even as it promises to renew processing legitimate claims.<\p> The agency in an announcement this week 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 — and found that between 60% and 70% showed an unacceptable level of risk.<\p>
Law firms clash with millions in fees at stake in OR wildfire case
In late May, three law firms promoted a June 1 free lunch at a food cart pod in the heart of Santiam Canyon, where one of Oregon's devastating Labor Day 2020 wildfires burned.<\p> "Let's come together for a day of food, friendship, and healing," the firms said in a Facebook post, an apparent effort to woo clients with claims to bring against PacifiCorp. <\p>
What's next in the NAR commission lawsuit settlement?
Some big deadlines are on the horizon for the class-action lawsuits that swept the residential real estate industry over the past year. <\p> The conclusion of these lawsuits could bring about significant changes to how homes are bought and sold beginning in the later part of 2024.<\p>
How Nike layoffs could exacerbate the struggling regional economy
Earlier this year, Nike announced it would lay off 2% of its global workforce, the result of a $2 billion cost cutting strategy that affected 740 workers at its world headquarters in Beaverton. <\p> When a company of Nike’s size and local impact goes through this kind of reorganization, it can have a ripple effect on secondary industries that rely on Nike for work or business as well. <\p>
Less than 10% of office stock in major metros considered 'prime' space
Less than 10% of the office space across some of the nation's major metropolitan markets is considered "prime" real estate, the type of property today's tenants prefer.<\p> A recent analysis by CBRE Group Inc. (NYSE: CBRE), the findings of which were shared first with The Business Journals, found 830 buildings across 57 cities analyzed could be categorized as "prime" properties, representing 8% of all office square footage in those markets. Although the definition of "prime" can vary by market, sometimes dramatically, the analysis set out to identify the highest-quality buildings in each city and examine how that segment of the market is performing relative to the broader office sector.<\p>
Portland's top tourism executive sets an exit date
The long-time president and CEO of Travel Portland is preparing to, himself, take a long vacation.<\p> Jeff Miller will retire from the group as the Rose City tourism advocate begins a new chapter after nearly 20 years. Miller oversees an organization that looks to build on Portland's $5.6 billion in annual visitor spending (up from $3.2 billion when he assumed the top role) and add to the 34,300 tourism-related jobs counted locally.<\p>
Nike extends a much in-demand employee benefit
Nike announced that it has extended its paid parental leave benefit from eight to 16 weeks for all U.S.-based employees “to give them more time with their child after birth, adoption or foster placement.”<\p> Additionally, Nike is, for the first time, extending this benefit to part-time retail employees. The company announced this change via LinkedIn June 13.<\p>
ZoomCare's founder unveils his futuristic new endeavor
Dr. Dave Sanders, the founder and onetime face of ZoomCare, is back, five years after selling the ubiquitous chain of neighborhood clinics and retreating from the headlines.<\p> Sanders’ new ambition hasn’t changed: nothing less than a remaking of what he views as a dysfunctional U.S. health care system. <\p>
Editor's notebook: Let's celebrate Portland's resurgent food scene
I knew I should have hit confirm on that reservation. <\p> A couple of weeks ago, my colleague Demi Lawrence interviewed Chef Gregory Gourdet about the success of his restaurant Kann and the upcoming James Beard Awards. It inspired me to try and get a reservation. As Demi noted in her piece, Kann reservations for the following month open at noon on the first day of the month prior, meaning July reservations opened on June 1. I had already missed that window, but I went on Resy and found a few straggler weekday tables for 2 still available.<\p>
Have we hit peak beer? These are Oregon's largest craft breweries
The national Brewers Association counted 318 craft breweries across Oregon in 2023, same as 2022 and essentially unchanged since 2019, when it counted 311.<\p> So, as other parts of the U.S. have emulated Oregon's trailblazing brewpub culture, other adult beverages like canned cocktails and hard seltzer have quaffed market share and a renewed interest in sobriety has taken hold, one wonders if we've reached "peak beer."<\p>
Viewpoint: Does your team feel safe enough to ask questions?
Many organizations include in their values “curiosity” and their leaders talk about the need for “psychological safety” for their employees to perform at their best.<\p> Psychological safety is the belief that you won’t be punished or humiliated for speaking up with ideas, questions, concerns or mistakes. At work, it’s a shared expectation that people will not embarrass, reject or punish each other for sharing ideas, taking risks or soliciting feedback.<\p>
Nike legal crackdown targets hundreds of alleged counterfeiters
In its latest effort to crack down on counterfeits, Nike and its Converse brand are suing more than 100 sneaker sellers for selling fakes of some of its most popular shoes.<\p> In documents filed June 12 in the U.S. Southern District Court of New York, Nike (NYSE: NKE) says it has identified nearly 150 websites and more than 250 social media handles that are directly selling or advertising counterfeit Nike and Converse products.<\p>
Bend-based electric dirt bike startup learns from Arcimoto's mistakes
Colin Godby's work on Disney park rides, a popular Star Wars toy, UBCO utility bikes and a robotic baking venture are among the experiences that inform him in building the Bend-based electric dirt bike startup Dust Moto.<\p> "One of our core principles is no science projects," the founder and CEO said. "A lot of companies spend multiple years of pure R&D trying to figure out if there's actually a project there. We had a really strong sense of product market fit and what exactly we were building and what the specifications needed to be."<\p>
'Free pizza won't fix this': What striking Providence nurses want
About 3,000 nurses took to the picket lines at 6 a.m. Tuesday at six Providence hospitals in Oregon, kicking off day 1 of the largest nurse strike in the state’s history.<\p> “Hey, Prov, you’re no good, treat your nurses like you should!” nurses clad in Kelly green shirts chanted in front of Providence Milwaukie Hospital. Ambulances entering the hospital sounded brief sirens in support.<\p>
Portland tech investor, mentor, exec honored for lifetime of work
Three well-known members of the Oregon Technology sector are being honored this year with the Sam Blackman, the Tech Champion and the Lifetime Achievement awards from the Technology Association of Oregon. <\p> The Sam Blackman Award is going to Nathan Christensen, co-founder and CEO of Mineral; the Tech Champion Award is going to Juan Barraza, incoming executive director of Latino Founders; and the Lifetime Achievement Award is going to Diane Fraiman, managing director at Voyager Captial. <\p>
A Portland founders group names inaugural executive director
Portland entrepreneurs and startup advocate Juan Barraza was named the first executive director of the group Latino Founders. <\p> Barraza co-founded the nonprofit, which has been steadily organizing and consolidating events. He takes over this new role July 1. <\p>
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