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Portland Business Journal
A first look at Powell's Books new airport store
After four years, Powell’s Books is returning to Portland International Airport.<\p> The Port of Portland Wednesday revealed it has reached a seven-year lease agreement with the company, which operates the world’s largest independent bookstore. Powell's had closed the location in July 2020.<\p>
Three Oregon chipmakers get $36M from state to grow
Oregon has wrapped up deals with three semiconductor companies for $36 million in grants and loans to grow their operations in the state. <\p> Lam Research (Nasdaq: LRCX) in Tualatin got $22 million to support a new research and development facility, Analog Devices (Nasdaq: ADI) in Beaverton $12 million for an expansion project, and Siltronic in Portland $2.2 million for an expansion and modernization.<\p>
NAR settlement threw a wrench into VA loans but a fix is coming
The class-action lawsuits that rocked the residential real estate industry over the past year have resulted in nearly $1 billion in settlements so far — and also put in place changes that could have hurt veterans’ ability to shop for homes.<\p> The National Association of Realtors and big brokers such as RE/MAX Holdings Inc., Anywhere Real Estate Inc. and Keller Williams Realty Inc. agreed to prohibit mandatory so-called “cooperation agreements,” in which sellers pay both the selling agent and the buyers agent commission for a sale, in exchange for being allowed to list a home on a multiple listing service.<\p>
Tickets going fast for Oregon's Best Places to Work program
The 2024 version of the PBJ's Best Places to Work program is set to welcome hundreds of attendees. <\p> The event, in its second year, is set to take place at an Aug. 15 event happening at the downtown Hilton. The program will honor companies in the small, medium and large categories.<\p>
Luxury real estate firm opening downtown Portland office
Luxury real estate brokerage Engel & Vӧlkers will take a ground-floor retail space inside downtown Portland's West End.<\p> Engel & Vӧlkers signed a 10-year lease for 1,700 square feet inside the 511 Building, property owners Menashe Properties said. The company plans to open the new location in August.<\p>
Blues Festival unveils its 14 food providers for July 4 concerts
Organizers of Portland's Waterfront Blues Festival have released their list of food and beverage providers for the 2024 July 4-7 gathering.<\p> The roster features a bevy of familiar purveyors, all of which are from Oregon:<\p>
Alaska Airlines partnership adds new way for flyers to cross the pond
Alaska Airlines is expanding its partnership with British Airways, allowing travelers to book direct flights from Portland to London through Alaska's website.<\p> British Airways operates a daily direct flight from Portland International Airport and London Heathrow and two daily from Seattle's SeaTac airport.<\p>
How one publicly traded Oregon cannabis company has flourished
The Canadian public markets, dangling capital that could otherwise be difficult to access, proved a powerful lure for several Oregon cannabis businesses six or seven years ago. Often it didn't work out. As execution took a backseat, hundreds of millions of dollars were lost in pursuit of growth opportunities that ranged from ahead of their time to downright dodgy.<\p> Though now revived as a private entity, Chalice, pulled into bankruptcy last year by debt, stands as the classic example of the time. <\p>
How a Portland firm is making AI affordable for a daunting process
Portland software company Hanzo is jumping into the artificial intelligence game, but instead of using generative AI to summarize vast amounts of data, the company’s new product will help customers zero in on what is relevant to their needs. <\p> Founded in 2009, Hanzo makes software tools for large enterprises that fulfill regulatory and legal compliance needs around data retention for information generated in communication and collaboration tools like Microsoft Teams, Slack, Asana and Atlassian. The new product is called Spotlight AI and it went live for general availability this week. The company has been piloting the product with five customers.<\p>
New York investor buys Vancouver apartment complex for $27M
A Vancouver apartment complex sold for $26.75 million to a New York buyer.<\p> Real estate firm CBRE brokered the sale of 182 apartments called Thunderbird Village from seller NBP Capital "to an undisclosed buyer," the brokerage said.<\p>
A Vancouver nonprofit will double its office footprint this fall
A Vancouver nonprofit revealed this week it will relocate to a nearby building that offers it twice as much space.<\p> Northwest Association for Blind Athletes said it will move its offices to the 805 Broadway Building in October. The group, which provides opportunities through sports and physical activity to those who are blind and visually impaired, is doubling its current office footprint, to about 6,000 square feet.<\p>
WeWork emerges from bankruptcy, appoints new CEO
After filing for bankruptcy protection in November, New York-based WeWork Inc. said Tuesday it has emerged from Chapter 11 and completed its operational and financial restructuring.<\p> The coworking giant's new era will include a new board of directors and a new chief executive. John Santora will become WeWork's new CEO, effective Wednesday. Santora joins WeWork from commercial real estate firm Cushman & Wakefield PLC (NYSE: CWK), where he most recently served as the firm’s Tri-State chairman.<\p>
Oregon to receive $15M in national product safety settlement
Oregon will receive about $15 million from a $700 million national settlement with Johnson & Johnson (NYSE: JNJ) over deceptive marketing of powders containing talc, Attorney General Ellen Rosenblum announced Tuesday.<\p> Rosenblum and 42 other attorneys general reached the settlement with the drugmaker to resolve allegations that Johnson & Johnson's ads deceptively promoted and misled consumers about the safety and purity of some of its products containing talc. <\p>
Another Oregon-based Fortune 500 company is laying off workers
Oregon's two representatives on the Fortune 500 moved up in the annual ranking in 2024, but now they're both in cost-cutting mode.<\p> Layoffs at Nike were disclosed in February. Now Medford-based Lithia Motors is doing what it calls a "very targeted" workforce reduction.<\p>
Portland wins big at James Beard Awards, including best restaurant
Portland was represented in Monday night's James Beard Awards with prizes for outstanding restaurant and best chef in the Northwest.<\p> Langbaan won one of the evening's most prestigious awards, outstanding restaurant in the country. The Thai fine dining spot known for its tasting menu is celebrating its tenth anniversary with popup events around Portland. <\p>
Restaurant Roundup: Oregon sushi spots land on Yelp 100 list
This week in who is ranking us now we have the Sushi edition. The folks at Yelp compiled a list of the 100 top sushi spots across the country and four Oregon establishments made the list — including one in the Top 10. <\p> The list was created from businesses in the Yelp database in the sushi category and ranking included total volume and rating of reviews, according to the company. <\p>
Powell's employee to open her own bookstore in NW Portland
Grand Gesture Books, a romance bookseller that launched online last November, plans to open a Portland storefront in September. <\p> Owner Katherine Morgan, who has run the romance section at local retail mainstay Powell's Books, said she is looking at a space in Northwest, where she's lived for eight years. She wasn't ready to give the exact location yet, but said the space looked promising when it came up. It's about 1,400 square feet including an office and has room enough for a few thousand books.<\p>
Portland developer reveals details for $50M luxury wine country hotel
There's often a tension when it comes to hospitality-related development in Oregon wine country, where upscale accommodations that could feed wine industry growth are in short supply but preserving rural character is also a priority.<\p> With a big new project, Portland-based developer SKB doesn't figure to face accusations of paving paradise.<\p>
3,000 nurses ready for Oregon's largest strike. Here's what they want.
More than 3,000 nurses from six Providence hospitals in Oregon are set to strike on June 18.<\p> The Oregon Nurses Association announced Friday that it gave management a 10-day notice of intent to strike, which would be the largest by nurses in Oregon history. The affected hospitals are Providence St. Vincent Medical Center, which is by far the largest, as well as Providence Newberg, Providence Willamette Falls, Providence Medford, Providence Hood River and Providence Milwaukie.<\p>
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