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Portland Business Journal
Keen execs on weaving Portland's DNA into their sustainable footwear
When sustainable footwear maker Keen relocated its headquarters to Portland in 2006 its goal was to join the rich local footwear ecosystem, but the move also stemmed from its concern for the natural ecosystem.<\p> Keen's "DNA really mirrored Portland's DNA,” said Kirsten Blackburn, the director of Keen Effect, the brand’s social impact department.<\p>
Powell's Books CEO, owner on business challenges, $4.5M cash infusion
Powell’s Books sales have yet to return to pre-pandemic levels, Chief Executive Patrick Bassett said on Tuesday, in line with a national trend for booksellers following Covid-19.<\p> U.S. bookstore sales sat at $8.3 billion last year, down 7% from 2019, according to data firm Statista.<\p>
Portland hires Kimberlee Armstrong as its new superintendent
Portland Public Schools finally has a replacement for a superintendent who left four months ago for a high-profile post in Los Angeles.<\p> Kimberlee Armstrong will replace Guadalupe Guerrero in the role, the district revealed in an email to parents and others in the PPS community. Armstrong was one of three finalists for the job.<\p>
A Southeast Portland natural area set to get a $2.5 million makeover
A much-neglected natural area in Southeast Portland is set to get a $2.5 million infusion that could offer more accessible trails and other gathering spots.<\p> Kelly Butte, which sits between Southeast Division Street and Powell Boulevard between roughly 103rd and 109th avenues, will get a facelift thanks to $2.56 million in system development charges. The money, which could help build new trails, add parking and provide other amenities, consists of one-time fees assessed on new development.<\p>
Intel, facing big fab tab, nabs $11B investment
Intel (Nasdaq: INTC) has turned again to a big investment firm to help finance its ambitious semiconductor manufacturing facility, or fab, buildout.<\p> Under a deal announced Tuesday, Apollo Global Management will provide $11 billion and get a 49% stake in the chipmaker's Fab 34 in Ireland.<\p>
With $1.7M round, Portland founder has big plans for AI legal software
A legal generative AI startup, founded by a Portland tech veterans, has raised $1.7 million in a pre-seed funding round, the company announced Tuesday.<\p> Gradient Ventures, Google’s AI-focused seed fund, led the round for CaseMark AI. The startup was co-founded by Scott Kveton, who also co-founded Urban Airship.<\p>
Arcimoto auctioning off factory equipment. Is the end near?
More than 1,000 lots of Arcimoto (OTCCPK: FUVV) manufacturing tools and other gear, from a "late model CNC tube bender" to "assorted hammers," are set to be auctioned off in two weeks.<\p> It's the latest sign of deep distress for the Eugene EV maker, but according to one news report, not an indication of impending demise.<\p>
Portland fine dining vets go from French Laundry to frozen pizza
What started as a temporary pivot to keep the celebrated Portland restaurant Renata afloat through the early weeks of the Covid-19 pandemic has become an entirely new business for owners Sandra and Nick Arnerich. <\p> The fine dining alums started selling frozen wood-fired pizzas that were made in the former restaurant. First the pizzas were sold on their website at a time when grocery stores were having trouble filling shelves, said chef Sandra Arnerich. <\p>
Where typical home values have pushed higher than $1M
Nestled amid the palm trees of Jupiter Island, Florida, is a three-bedroom, five-bathroom house with a pool on a half-acre lot.<\p> The 2,798-square-foot house, only steps to the beach and offering ocean views, is currently listed on the market for $5.1 million. As of the time of publication, it's the cheapest house for sale on Jupiter Island, which boasts the highest median home value in America, according to Zillow Group Inc. (Nasdaq: ZG).<\p>
Kann's Gregory Gourdet on James Beard fame, finding investors
Gregory Gourdet commutes to his Haitian-inspired Central Eastside restaurant, Kann, in a very Portland way: on his e-bike. <\p> On a recent sunny afternoon, the founder of the 2023 James Beard Award winning best new restaurant and a Portland resident for the last 16 years, Gourdet removes his helmet and navigates Kann’s kitchen like a labyrinth he solves daily.<\p>
Oregon chainsaw maker cuts down Missouri manufacturing plant
Oregon Tool Inc., a Portland-area manufacturer of professional grade cutting tools and equipment, is pulling the plug on its Kansas City operation, leaving 80 people without jobs. <\p> According to a Worker Adjustment and Retraining Notification (WARN) Act filing, the layoff will take place Aug. 2.<\p>
Most top-performing companies take this position on pay transparency
Most top-performing companies are proving to be open and transparent about pay at a time when workers increasingly expect it.<\p> That finding comes from compensation data and software provider Payscale Inc., which recently analyzed companies that beat their own revenue goals to find what they had in common. <\p>
Portland developers plan luxury hotel in wine country
A Portland developer plans to develop 3 acres of Willamette Valley wine country into a luxury lodging destination.<\p> Developer SKB on Tuesday announced its acquisition of property in the Dundee area and plans to build a 95-room hotel as a "vibrant experience for guests seeking refined accommodations and world-class wine."<\p>
Hillsboro semiconductor maker CEO exits, sending stock down
Jim Anderson, who led Hillsboro-based Lattice Semiconductor (Nasdaq: LSCC) to substantial growth in nearly six years as CEO, on Monday was named chief executive at Coherent Corp., a Pennsylvania-based tech company.<\p> Investors signaled their respect for Anderson after the pre-market announcement, sending Lattice shares down more than 15% on the day. Meanwhile, shares in his new employer, Coherent Corp. (NYSE: COHR), surged 23% higher.<\p>
Portland's back on top of a global food list, and other dining news
There was a time not long ago when Portland seemed to rank No. 1 on an endless number of lists: best places to live, best beer, best place for pets, best for biking, best for outdoors, best fill-in-the-blank. <\p> Lots of people moved here. And the challenges with the increasing population and higher cost of living were brought to the surface during the Covid-19 pandemic. The lists slowed and the city has been going through a time of self-reflection, calls for action and, for the first time in a long time, losing population. <\p>
Downtown college board chair on why it's closing after 40 years
When Travis Kern was looking to for acupuncture programs 10 years ago, he checked out a couple of Texas schools located in suburban strip malls. He was not impressed.<\p> Then the New Orleans native paid a visit to the Oregon College of Oriental Medicine, known locally as OCOM. The school had just received a top ranking among schools of Chinese medicine and had recently relocated to an old hotel it had renovated in Portland’s Old Town/Chinatown district.<\p>
PacifiCorp chips at Oregon wildfire liability with new $178M settlment
PacifiCorp whittled its potentially devastating liability in Oregon's Labor Day 2020 wildfires somewhat on Monday, announcing a $178 million settlement with 403 plaintiffs.<\p> Most of the settling parties had opted out of the James class action lawsuit that has so far resulted in $220 million in awards involving 36 plaintiffs, the company said. <\p>
Why sneakerheads will converge on downtown Portland next month
When Sneaker Week returns to Portland next month, the annual festival celebrating footwear and design will also be a celebration of Portland's places, starting with downtown.<\p> This decision was made, co-founder Herbert Beauclere said, to scale the event to reach a bigger audience and to be part of downtown’s revival this summer.<\p>
Pamplin Media sold to out-of-state chain
Pamplin Media Group, owner of the Portland Tribune and other small area newspapers, announced its sale to Carpenter Media Group Monday.<\p> “After 25 years operating Oregon’s largest newspaper group, we made the decision to sell the company,” said owner Robert Pamplin in a statement. “Due to age and health reasons, it made sense to pass the company on to someone else who will carry on the tradition of balanced journalism, the old-fashioned way.”<\p>
Five Things to Know: Major merger milestone and a Bill Walton tribute
Good morning. The first Monday of June is off to a gloomy start, but here a Five Things to brighten the outlook for the week.<\p> Two of the Portland metro's largest employers, which are set to combine to be the area's largest, hit a milestone last week. OHSU and Legacy Health signed a binding agreement to merge. After the announcement, we heard from board chairs of the two entities on progress for the merger.<\p>
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