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Portland Business Journal
These Portland Safeways would be sold in Kroger-Albertsons merger
Twenty-nine Safeway stores in the Portland region, including several longtime neighborhood groceries, are among the list of 62 Oregon locations set to be divested under the pending Kroger-Albertsons merger.<\p> The full list, as reported by the trade publication Progressive Grocer, also includes five Portland-area Albertsons locations and four QFCs. The locations would be divested to New Hampshire-based C&S Wholesale Grocers.<\p>
Biotech lands $12M settlement from ex-business partner
CytoDyn Inc., the Vancouver, Washington-based biotech firm that has struggled to get off the ground, scored a win on Tuesday.<\p> The company announced that it has settled its lawsuit against Amarex Clinical Research, its former contract research organization. Under the terms, Amarex will pay CytoDyn $12 million, while the $14 million Amarex had claimed as due to it will be eliminated, CytoDyn announced.<\p>
Nike brings back retired VP in retail turnaround
Nike has reportedly rehired its former VP and general manager of North America as its new VP of marketplace partners. <\p> First reported by Bloomberg News, Tom Peddie, a 30-year Nike veteran who retired from the company in 2020, is returning to the brand, according to an internal memo seen by the news outlet. <\p>
Oregon battery company offered $1.2B federal loan
Oregon-based Entek is getting more federal support for the battery component plant that it's building in Indiana.<\p> The Department of Energy on Tuesday announced a $1.2 billion conditional loan for the company for the $1.5 billion plant in Terre Haute. In 2022, Entek got a $200 million grant for the project.<\p>
Federal judge keeps religious discrimination suit against Legacy alive
A U.S. District Judge denied Legacy Health’s attempt to dismiss a lawsuit brought by a former employee who sought a religious exemption from the Covid-19 vaccine.<\p> Molly Malone, who was a respiratory therapist at Legacy, is one of dozens of former health care workers suing Portland hospital systems in federal court for alleged religious discrimination stemming from the hospitals' denial of their requests to skip the vaccine.<\p>
Venerable Portland wealth management firm joins Seattle adviser
Arnerich Massena, a prominent Portland investment adviser for 30 years, has joined Seattle-area Coldstream Capital Management.<\p> The employee-owned firm has $2 billion in assets under management and a staff of 19, with seven wealth advisers. It was founded in 1991 and was 15th on the Business Journal's list of the largest money management firms in the region last year. <\p>
Opioid treatment via telehealth reduces stigma barrier, OHSU finds
A new study from OHSU confirms that telehealth can be an effective way to get people into addiction treatment because it reduces stigma.<\p> The study authors conducted in-depth interviews with 30 people treated for substance use disorder at OHSU from March 2020 to 2021, a period when the federal government eased restrictions around virtual visits. Patients received prescriptions for buprenorphine.<\p>
CEO of 50-year-old Portland veterinary clinic on its massive expansion
DoveLewis Veterinary Emergency & Specialty Hospital completed a major expansion in late 2019, just before the Covid-19 pandemic sent pet ownership soaring.<\p> The 24/7 pet ER found itself, once again, running short on space.<\p>
Portland-area beverage maker recalls products
Urban River Spirits, a maker of nonalcoholic drink mixers, issued a voluntary recall of its products for a "potential safety concern." <\p> A notice from the U.S. Food and Drug Administration said the recall was due to the products being produced in an unlicensed and uninspected facility and requiring addition shelf-stability testing. <\p>
$50M from feds boosts Wilsonville manufacturer's hiring plans
A $50 million financing package through a Biden administration initiative is expected to lead to 100 new jobs for Wilsonville grid energy storage company ESS (NYSE: GWH).<\p> The support from the Export-Import Bank of the United States will help ESS expand its production capacity and sell more of its iron flow batteries overseas, the bank and company said.<\p>
Portland-area contractor acquires 100-year-old construction firm
Portland-area construction firm Perlo Construction on Monday said it has acquired Reimers & Jolivette, becoming R&J's parent company.<\p> Tualatin-based Perlo declined to disclose the acquisition price, noting it was a private deal, but said the tie-up closed July 1. R&J, which specializes in work such as seismic upgrades and historic preservation, will keep its name and office in Northwest Portland, the companies said.<\p>
UO moves to dismiss female athletes' lawsuit
The University of Oregon filed a motion Friday to dismiss a lawsuit filed against it by a group of nearly three dozen female UO athletes, alleging Title IX violations over their treatment, financial awards and access to facilities.<\p> The university's motion, filed July 5, argued the lawsuit lacked standing. UO has previously denied all allegations of gender discrimination against female athletes.<\p>
FTC noncompete ban suffers setback
The Federal Trade Commission’s broad noncompete ban suffered a legal setback after a federal judge in Texas ruled against the agency on July 3.<\p> U.S. District Judge Ada E. Brown of the Northern District of Texas, said in a ruling that the agency “lacks substantive rulemaking authority” on the matter and granted a preliminary injunction on the controversial rule that could affect employers in a broad range of industries. <\p>
The National Observer: America's most-on-time airports
Welcome to The National Observer, a roundup of top business news and actionable insights from across The Business Journals network of publications. Today, we're looking at a big change to federal rulemaking that could affect businesses, the hidden costs of owning a home, and federal grants for 12 tech hubs across the U.S. But first, you may want to pack your patience for these routes — they're the most delayed flights in the U.S.<\p> Get more stories like these every day in your inbox by subscribing to The National Observer newsletter.<\p>
These small Oregon towns collected $5M-plus in development grants
Oregon's business development arm is preparing to dispatch funds to eight rural towns for an array of construction projects. <\p> The $5.3 million in Community Development Block Grants, administered by Business Oregon, could help add jobs and services to the smaller areas. The program "supports the development of livable communities by expanding economic opportunities and providing suitable housing and living environments for persons of low and moderate income."<\p>
Data-center debate: Booming CRE sector grapples with big questions
The proliferation of data centers across America is helping to power the nation's increasingly digital economy — but for some, it's coming at too high, or too unknown, of a cost.<\p> The data-center boom isn't new, but the rate at which these projects are being planned, proposed and built is quickly escalating. And while data centers once were concentrated in a few key markets, they're now fanning out to metro areas all over the country.<\p>
Five Things to Know this week: PDX performance venues and Nike cuts
Good morning. It's a scorcher out there. Here are Five Things to Know this week while thinking cool thoughts.<\p> Upheavals at Oregon's largest company continue to be the biggest news story in town. Nike (NYSE: NKE) is laying off about 2% of its workforce, and a filing with state officials revealed that it is making cuts at the top, with 33 VP positions and 110 senior director roles targeted. <\p>
Inside plans for a new 4,200-seat Portland performance venue
Mike Quinn has an ambitious plan for the former Nordstrom at Portland's Lloyd Center. <\p> The founder of locally based Monqui Presents is partnering with the Denver office of entertainment group Anschutz Entertainment Group to construct an entertainment venue at Lloyd Center. Quinn declined to talk to the Business Journal about project costs, but he said it will likely take about a year and a half to build.<\p>
Meet Oregon's largest private companies
There was a shakeup in the top 10 firms on the Business Journal's 2024 list of largest privately held companies in the region.<\p> Five companies were new arrivals to the top 10, based on 2023 revenue this year, including one company that moved up seven spots.<\p>
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