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Portland Business Journal
Meet the Business Journal's 2024 40 Under 40 honorees
For more than 25 years, the Portland Business Journal has presented its annual list of talented young professionals, and the 2024 class of 40 Under 40 includes more of the region's up-and-coming leaders.<\p> This year's 40 honorees include founders, senior vice presidents, CEOs, partners and more. They represent banks, law firms, nonprofits, national retailers, manufacturers and more. <\p>
Columbia CEO Tim Boyle on why his family invested in the Thorns
There’s little doubt that Tim Boyle cares about Portland and its recovery post-pandemic. <\p> The Columbia Sportswear CEO is the only local investor in a group that this morning revealed it has put new cash into the Portland Thorns. Similarly to when he set aside money earlier this year to clean up trash around Interstate 405 and other city areas, Boyle told the Business Journal that investing in the National Women’s Soccer League team was an easy choice.<\p>
Columbia's Tim Boyle, other big hitters invest in Portland Thorns
The Portland Thorns revealed Thursday that it has attracted several heavy-hitting new investors, including a Portland business mainstay.<\p> Columbia Sportswear Co.'s Tim Boyle was one of five investors assembled by the team's new owners. The others are Phoenix Suns co-owner Sam Garvin, former NBA player and Landspire Group CEO Josh Childress, TPG's co-managing partner Nehal Raj and Kunal Merchant, who's partner and COO of the alternative investment platform Revitate. Merchant's group is led by Lisa Bhathal Merage and Alex Bhathal, whose RAJ Sports bought the Thorns in January.<\p>
Beaver blamed for power outage affecting 33K in Portland
This story is available courtesy of Portland Business Journal media partner KGW-TV.<\p> More than 33,000 customers briefly lost power in Northeast Portland Wednesday afternoon due to what Pacific Power later explained was an incident in which a beaver chewed through a tree and caused it to fall and damage a power transmission line.<\p>
Column: How footwear can revive a hard-hit Portland neighborhood
Portland has long been at the center of footwear and apparel innovation, with some of the globe’s largest brands – Nike, Adidas, Columbia – headquartered in the region. For this reason, budding footwear and apparel startups have also flocked here, looking to tap into the ecosystem and develop partnerships. <\p> Hilos is one such company that has laid its roots down in Portland. Since its inception four years ago, the footwear maker has operated in the city through the aftershock of the Covid-19 pandemic. Arguably, no area has been hit harder by the fallout than where Hilos’ headquarters sits in Old Town. <\p>
Oregon psilocybin group hires director as psychedelic therapy spreads
An organization born of Oregon's 2020 psilocybin ballot measure has a new executive director.<\p> Taylor West is taking the reins of the Healing Advocacy Fund from Sam Chapman, who is moving on to other endeavors in June. The nonprofit fund advocates for and provides education around psilocybin in both Oregon and Colorado.<\p>
Now Hiring: Leaders for the new Portland innovation Hub
Efforts to build a Portland Metro Region Innovation Hub are moving forward and recruitment is open for three key roles: an executive director and two navigators. <\p> The Innovation Hub is being housed at Portland State University and the school is acting as facilitator for a coalition of 37 community partners. The massive group consists of higher education, community development centers, local governments, Northwest Tribes, economic development groups, entrepreneurship groups and private companies. <\p>
A storied Oregon wine event is ending 'in current form'
A signature event that helped grow Oregon's reputation as a pinot noir leader is ending after nearly four decades, though organizers hope interest in the swan song edition this July will provide a springboard to a fresh event under a new format.<\p> The board of the International Pinot Noir Celebration — a mid-summer weekend exploration of the varietal held annually at Linfield University in McMinnville since 1987 — put out word internally Wednesday that "we will be hosting our final IPNC weekend in its current form this July."<\p>
Portland addiction treatment startup raises $35M funding round
Boulder Care, which provides telehealth treatment for substance use disorders, has raised a $35 million investment round, according to a document filed with the Securities & Exchange Commission.<\p> The funding round is the latest sign of growth for the Portland-based company, which was founded by CEO Stephanie Strong in 2017. Boulder Care previously raised a $37 million Series B round in 2022 and $85 million since its inception.<\p>
Ex-Blazers sponsorship head is taking youth sports to a bigger arena
A Portland sports and entertainment sponsorship agency is helping a global youth soccer program develop brand partnerships that focus on introducing kids to sports.<\p> Priority Partnerships CEO Dan Scheinman, a 2023 Portland Business Journal 40 Under 40, founded the company in 2022 after more than a dozen years arranging sponsorship deals with the Portland Trail Blazers. Stronger Youth Brands is one of the world’s largest youth enrichment soccer programs, serving communities in 44 states and 26 countries. <\p>
Here's how OHSU President Danny Jacobs' $1.6M contract breaks down
Dr. Danny Jacobs will receive a $350,000 yearly bonus as part of his two-year contract renewal starting in July, with his total annual compensation coming in at $1.64 million.<\p> OHSU spokeswoman Sara Hottman confirmed Jacobs’ compensation package, first reported by Willamette Week.<\p>
An iconic Portland Thorns player is honored with her own Barbie
One of Portland’s most iconic female soccer players now has her own Barbie doll.<\p> Christine Sinclair is one of nine female athletes that Mattel is honoring with a doll in their likeness. Mattel partnered with Voice in Sport for the series, a digital sport platform founded by a former Nike VP dedicated to keeping girls in sports.<\p>
Here's who's getting $90M in state money for earthquake protections
Contractors in 36 Oregon locales may want to hone their seismic upgrade skills.<\p> Business Oregon, the state's economic development arm, said Wednesday it has awarded nearly $90 million for projects that are eligible for the Seismic Rehabilitation Grant Program. Of that money, $26.1 million will back emergency service projects while $55.8 million will support school projects.<\p>
A Covid-era option for bankruptcy filings is about to expire
Small businesses will be left without a useful Covid-era bankruptcy tool when it expires in the coming weeks — a development occurring just as bankruptcies are on the rise.<\p> The program, called Subchapter V, was created to enable businesses with less than $2.75 million in debt to go through the Chapter 11 bankruptcy reorganization process in a streamlined way. In March 2020, as the pandemic took hold across the country and worldwide, Congress raised that benchmark to $7.5 million, allowing many more businesses to use the Subchapter V option. <\p>
A storied name in Portland real estate ends 92-year run with merger
The Norris, Beggs & Simpson name is done after 92 years in the Portland metro.<\p> The independent Lake Oswego holding company's approximately 15 workers are now with Minnesota-based Northmarq. It parted with the last two entities it was holding: Morrison Street Capital and NBS Real Estate Consulting.<\p>
The 'lock-in' effect is hitting homebuyers. It may get worse.
Americans expect high mortgage rates to rise even more in the coming years, a perspective that could further dampen the housing market.<\p> The Federal Reserve Bank of New York’s SCE Housing Survey found Americans expect mortgage rates to climb from just under the 7% they are now to 8.7% a year from now and 9.7% in three years — the highest recorded since the agency started asking Americans that question in 2014.<\p>
How Adidas is boosting Portland's emerging entrepreneurs of color
An advocacy organization that works to provide access to sports for Black students in Portland Public Schools won $25,000 in funding from Adidas at a pitch event last week.<\p> Black Excellence Group’s founder Mashari Tyson told a panel of four Adidas employees how the organization works with PPS to bring Black therapists, consultants and educators into schools to help students see their worth and value, and develop a sense of belonging. <\p>
Oregon Clinic CEO on staying independent and Covid's lasting effects
Like all independent medical practices, The Oregon Clinic faces some strong headwinds.<\p> Reimbursements are lagging inflation more than ever, and the Covid-19 pandemic worsened an already serious workforce shortage. On top of that, an anesthesiology group upheaval at two Providence hospitals has disrupted care in recent months and created a backlog of surgeries for the clinic’s surgeons who perform procedures at those facilities.<\p>
Apartment market cools with record amount of new supply wrapping up
The national rental-housing market has continued to cool, with differing outcomes based on geography and unit type.<\p> Several markets in the South posted significant year-over-year declines in apartment rental rates as of April, according to a new Realtor.com analysis. Those declines were led by Nashville, Tennessee, and Austin, Texas, the latter of which has seen an 8.3% annual drop in asking rents and an 11.5% drop since peaking September 2022. <\p>
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