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Portland Business Journal
Naomi Pomeroy, one of Portland's best-known chefs, dies at 49
Naomi Pomeroy, founder of Beast and one of the city's best-known chefs, has died at the age of 49.<\p> The Oregonian reported that Pomeroy, whose career took her to national heights with appearances on national cooking shows, died while floating on the Willamette River on Saturday. The inner tube on which she was floating near Corvallis "hit a snag," taking her underwater. Friends identified the victim as Pomeroy, according to the Oregonian.<\p>
Why analysts are suddenly hot on a Portland-area biotech
Wall Street analysts seem to be loving Absci Corp.’s prospects right now, based on recent research reports.<\p> Vancouver, Washington-based Absci (Nasdaq: ABSI), which uses AI to assist in drug discovery, currently has a consensus “Buy” rating and price target of $8.40, according to MarketBeat. The stock was trading at half that price, $3.90, on Monday.<\p>
PSU prepares to add a bevy of campus flourishes
Portland State University said it has chosen a well-regarded Rose City architecture firm to help execute "placemaking initiatives" on its downtown campus.<\p> Walker Macy will lead a group (called the Walker Macy Collaborative) that looks to "activate outdoor and street-level spaces across PSU's campus by bringing the energy from inside PSU buildings to outdoor locations, and a focus on authentic engagement with PSU's diverse student population and the city that surrounds it."<\p>
ChefStable announces latest entertainment venture at Eastside address
Portland dining and entertainment group ChefStable plans to open a lounge with vintage vibes in a space that formerly housed a bar, a restaurant and an events venue.<\p> "Panther Club (is) a high-level, yet fuss free, late-night sexy, vintage lounge" at 726 S.E. Sixth St., next door to ChefStable's Loyal Legion beer hall, according to an announcement Monday.<\p>
$60M trademark infringement suit alleges an 'illicit Nike empire'
In its latest effort to crack down on copycat designers, Nike has filed a $60 million trademark infringement suit against a well-known sneaker customizer. <\p> In documents filed July 15 in the U.S. Southern District Court of New York, Nike (NYSE: NKE) alleges that Dominic Chambrone, also known as the Shoe Surgeon, uses Nike’s logo and other trademarked designs without its permission, calling his customization business an “illicit Nike empire.”<\p>
Portland firm aims to break familiar financial cycle for pro athletes
Professional athletes are among the world’s highest paid workers, yet many of them go broke soon after retirement. <\p> Portland sports agents Henry Organ and Hector Rivas founded Disruptive Sports Agency in 2020 to help athletes build wealth, diversify their portfolios and support their communities.<\p>
Portland home sale hotspots and other real estate transactions
Each week the Business Journal compiles public records on real estate transactions, business formations, liens, lawsuits and bankruptcies.<\p> Scroll down for a map of some of the priciest home sales that recently closed as well as commercial real estate transactions of note. And check out the PBJ's public records database, which is searchable by company or individual, to see who's doing deals. <\p>
CMBS apartment distress surges as operators struggle to refinance
Distress in the multifamily sector of commercial real estate is mounting as debt issued during a time of ultra-low interest rates is coming due.<\p> Among commercial mortgage-backed securities loans for single-borrower, large multifamily properties, the rate of distress is up 185% in the past six months, according to an analysis by Wayne, Pennsylvania-based commercial real estate data-analytics platform CRED iQ.<\p>
Five Things to know for a much, much much cooler week
The weather outside is, well, not delightful, yet, much more pleasant than last week. That noted, don't feel badly about staying inside to read today's Five Things. Which you can do after reading the end of this sentence.<\p> The PBJ's Demi Lawrence spent part of last week glued to her screen and headset as she tracked the Nike/Odell Beckham Jr. case, which revolves around the star receiver's endorsement contract. There's a whole heckuva lot more to the story, which Demi lays out nicely here. <\p>
Portland attorney brings 'sneaker law' into the classroom
A Portland sports and entertainment attorney will tailor his knowledge of contracts, endorsement deals and more to the classroom in a "Sneaker Law" course at Lewis & Clark College.<\p> Nic Mayne, currently counsel with New York's Nixon Peabody but formerly of Miller Nash, said his fall class will cover topics at the heart of the sportswear industry, such as protecting and licensing intellectual property, marketing deals, manufacturing, distribution and branding. <\p>
What a new Columbia River Treaty could mean for NW public power
A preliminary Columbia River Treaty agreement is expected to deliver savings to the Bonneville Power Administration, which markets power used by millions in the Pacific Northwest from dams on the vast river system.<\p> It was cautiously welcomed by public power representatives, but conservationists said it overlooks threatened fish.<\p>
5 years, $600M and a few liens later, Portland's Block 216 is complete
The Block 216 tower, home to the Ritz-Carlton Portland, is complete five years after breaking ground.<\p> Block 216 received its temporary certificate of occupancy last October, allowing the Ritz-Carlton hotel to open and condo owners to move in. On Friday, developer BPM Real Estate Group said the 35-story tower in downtown Portland was fully finished.<\p>
Ultra-luxe Oregon winery opens new tasting venues
The producer of some of Oregon's most exclusive wines is set to offer new guest experiences — in line with its ultra-luxe but earthy vibe — at the property it acquired a year ago.<\p> Antica Terra, led by co-founder and winemaker Maggie Harrison, is known for pinot noirs and chardonnays that typically require a spot on a membership list (and $150 or more) to obtain. Harrison was the subject of a 4,000-world profile in The New York Times Magazine last summer that depicted her as an audacious and uniquely gifted renegade artist winemaker.<\p>
Oregon hospitals say patients may have been exposed to HIV, hepatitis
Both Providence and Legacy Health said Thursday they are notifying patients about a potential infection control breach related to an anesthesiologist who no longer works with the health systems.<\p> Legacy said it is sending letters to 221 patients who may have been affected. <\p>
As trial starts, Nike spells out Beckham's contract violations
Lawyers representing Nike Thursday morning asked the jury a two-pronged question: Did NFL wide receiver Odell Beckham Jr. breach his contract when he played in custom Nike gloves, and did he violate this same contract when he disclosed allegedly confidential terms of his deal?<\p> “A professional athlete is doing a job, and a job has rules and responsibilities,” Nike’s counsel said during opening arguments. “Those rules and responsibilities were made clear to Beckham.”<\p>
Presenting 40 rising Portland leaders for 2024
The Portland Business Journal's newest class of 40 Under 40 have come long way in a short time, and not without some challenges on their way up.<\p> For one honoree, a partner at a top Portland law firm, it was being called "little missy" by an opposing legal team. <\p>
After 2 years, a positive sign for downtown Portland office leasing
Downtown Portland office leasing surpassed the suburbs for the first time since the end of 2022, according to real estate brokerage CBRE, as employers signed large leases in the core.<\p> Still, downtown vacancy remained stubbornly high at 31.5% in the second quarter, compared to 16.1% in the suburbs, CBRE reported. The Portland metro's overall vacancy rate stood at 24.1%.<\p>
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