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Portland Business Journal
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>
Rudy's Barbershop investor sues Sortis Holdings, demands financials
A Portland-area investor is suing Sortis Holdings for $250,000, the same amount it invested in a local barbershop chain in 2020. <\p> In a lawsuit filed Monday, investment firm Junie is also asking the Multnomah County Circuit Court to order Sortis Holdings to hand over financial records for Rudy’s barbershops.<\p>
A well-known Oregon family member gives $1M to help those in recovery
A Yamhill County facility operated by Blanchet House will collect $1 million from a group operated by a relative of Les Schwab.<\p> The Echo Fund, founded by Diana Tomseth, gave the gift to Blanchet Farm to expand a 14,000-square-feet 24-bed facility that helps in addiction recovery.<\p>
Oregon executive gives $1M for underserved students' college tuition
A Bend investor and health care executive has given the Portland Community College Foundation $1 million.<\p> Brigid Flanigan's gift will, at the rate of $200,000 for five years, back the First-Year Experience Initiative, which serves "historically underserved students." It's one of PCC's largest gifts from an individual donor.<\p>
Oregon hospital association heads back to court over M&A ruling
The Hospital Association of Oregon is appealing a federal judge’s dismissal of its lawsuit challenging the state’s 2-year-old mergers and acquisitions oversight program.<\p> The association on Tuesday announced it has filed a notice of appeal with the U.S. Court of Appeals for the Ninth Circuit. Last month, U.S. District Judge Michael Simon threw out the association’s lawsuit, ruling that the Health Care Market Oversight program does not violate the due process clause of the U.S. Constitution.<\p>
KinderCare CEO on guiding the $2.5B co. and child care as a benefit
Paul Thompson in June took charge of one of the region's largest private companies. KinderCare Learning Companies, with $2.5 billion in revenue, employs 44,000 nationally. Nearly 1,600 are in Oregon, with about 1,000 in Portland metro. We caught up with Thompson, who is based outside San Francisco, to talk about child care as an employee benefit, finding real estate and maintaining culture with a far-flung workforce. The following has been edited for clarity and brevity. <\p> How would you characterize the state of child care right now? For Gen Z, the number one thing that they're asking for as a benefit from their employers is more accessibility and affordability of child care. That's why we're trying to be in more communities, why we try to partner on different subsidy grants available to families to make it accessible to them. <\p>
Employee benefits are big investments. Is your firm seeing a return?
Sarah Friend recalls when the term “employee benefits” meant only medical, dental, and vision.<\p> It’s so much more today. Friend calls employee benefits “a broad umbrella” with a focus on core values. Think retirement, compensation, time off, mental health, child care, hybrid work, volunteering opportunities, even the level of equipment and the quality of the office environment. It’s all about company culture.<\p>
How you can join a dress rehearsal for PDX's new terminal
Portland International Airport is inviting the public for a preview and test run of its newly remodeled terminal ahead of the official opening date.<\p> PDX embarked on its $2 billion reconstruction of its terminal in 2019 and is nearing completion of its first phase, scheduled for opening in August. <\p>
Meet the Portland chef behind the country's best restaurant
It’s been a week since Langbaan won the James Beard Award for Outstanding Restaurant in the country. The Northwest Portland establishment had its first batch of reservations open since then on Saturday. <\p> They went within five minutes, said owner Akkapong “Earl” Ninsom. <\p>
Major landlords targeted by class-action lawsuits over pricing
Several major apartment landlords from across the country are under fire over rental rates — allegations that have spawned a wave of class-action lawsuits and garnered the attention of state and federal authorities. <\p> The lawsuits have high-stakes for the apartment market and beyond, with potential to shape how pricing software could be utilized in multiple industries. <\p>
Chipmaker with Gresham fab announces layoffs, consolidation
Onsemi said it plans to lay off 1,000 employees and consolidate its global corporate footprint, but didn't specify how the moves might affect its Gresham semiconductor manufacturing plant.<\p> The cuts, revealed in a regulatory filing, come as the company seeks to trim costs amid a slowdown in one of its key product markets.<\p>
Citing 'potential claims,' OHSU continues paying former HR head
Qiana Williams, who recently resigned as OHSU’s chief people officer, has notified the university that she has “potential claims against the university” and is therefore receiving certain severance benefits she would not otherwise be eligible for, according to an agreement signed by Williams and OHSU President Dr. Danny Jacobs.<\p> Under Williams’ Separation Agreement and General Release, signed May 28, she is to receive a one-time payment of $75,000 and her current monthly salary until she gets a new job or until June 30, 2025, the end of her current contract, whichever comes first. <\p>
Inside the Red Mill: behind the scenes of a beloved Oregon brand
The first thing to know about Bob’s Red Mill’s production facility is, yes, it smells like flour. And in some places it smells like maple brown sugar oatmeal and your stomach will reflexively growl. <\p> Bob’s Red Mill this month opened its facility for a tour to offer a first-hand look at how one of the region’s largest food manufacturers makes its products. Above the din of the production lines filling and moving bags of product there’s a constant beep-beep of fork lifts moving pallets of cases or huge 220-pound or 1,400-pound bags of grain and flours <\p>
Hillsboro buys $69M of land to support industrial development
In about two dozen property deals, the Hillsboro Economic Development Council has acquired 94 acres in recent months for $68.5 million.<\p> The land is in the Jackson East area, according to public records and city officials, a few miles from Intel's Ronler Acres campus. While it has not been designated for a specific use, Hillsboro's economic development director emphasizes the city's need for industrial land.<\p>
Homeowners continue to build equity, impacting future buying decisions
American homeowners continue to build significant equity even as the housing market has slowed and home prices aren't rising as rapidly as they did in recent years.<\p> U.S. homeowners with a mortgage pulled in $28,000 in equity gains on average year over year in the first quarter, the highest amount since late 2022, according to CoreLogic Inc. That average year-over-year increase of 9.6% translates to a collective gain of $1.5 trillion and means net homeowner equity totaled more than $17 trillion at the end of Q1.<\p>
Five Things to Know this week: Sports Bra goes global, OHSU layoffs
Good morning. Lots to look forward to this week. Juneteenth is around the corner, along with summer's longest day. Here are Five Things to get it started.<\p> OHSU is weathering the financial troubles hitting health care providers since the pandemic, but it plans to cut around 500 employees to do so. Last week it revealed the size of its first round of layoffs. It also is looking at rolling back benefits as a way to cut costs.<\p>
300K-SF downtown building faces default on $37.5M debt
Park Square, an office complex that sprawls across two buildings and some 296,000 square feet near the downtown Portland waterfront, appears to be headed for a foreclosure sale.<\p> The property at 100 S.W. Market St. is the latest casualty of the post-pandemic crash of Portland's downtown office market, where the vacancy rate is 31% and rising, according to brokerage CBRE.<\p>
Portland HR startup taps into growing employee leave needs
Portland startup Stiira is building software to help companies manage the myriad of regulations around paid and unpaid employee leave.<\p> To that end, it’s recently inked a partnership with a large HR technology provider that will get the tool into more hands. <\p>
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