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Portland Business Journal
These are America's most-delayed flights
Airlines are expecting record-breaking traffic for the summer — and for the July Fourth holiday — but fliers on many routes would be wise to build in some extra time for their travel plans. <\p> That's according to an analysis by The Business Journals of the latest on-time data from airline analytics company Cirium Inc. The analysis looked at routes with at least 20 flights. <\p>
How you can decide what a new Burnside Bridge will look like
This story is available courtesy of Portland Business Journal media partner KGW-TV. <\p> Multnomah County has plans to build the first seismically resilient bridge near the heart of downtown Portland in place of the current Burnside Bridge. The county is seeking the public's input on two potential bridge design options. <\p>
Central Oregon craft brewer bows to challenging beer market
Sisters-based Three Creeks Brewing is the latest Oregon beer maker bowing to a changing market with the closing of its production plant and sale of its brewpub.<\p> Three Creeks founder Wade Underwood announced in June that his brewpub had been sold to Jacob Whitney, who operates five "successful establishments in the Gresham/Troutdale area." He also revealed the closing of his other Three Creeks brewery in Sisters.<\p>
Two Portland-area heavyweights on S&P 500's list of biggest losers
Two the Portland metro's highest-profile companies were among the biggest losers in the S&P 500 in the first half of 2024. <\p> Intel (Nasdaq: INTC) shares were the third-worst performing with a 38% price drop from the end of 2023 to last Friday's market close. Nike (NYSE: NKE) was eighth on the list that nobody wants to be on, falling 30.6%.<\p>
Oregon left out of $504M in federal tech funding
Two Oregon State University-led consortia were left out on Tuesday when the Biden administration announced $504 million in funding for 12 tech hubs across the county.<\p> The Corvallis Microfluidics and the Pacific Northwest Mass Timber hubs were among 31 tech hubs that advanced last fall from a pool of some 400 applicants and were invited to compete for funding. Estimated awards for the 12 winners ranged from $19 million to $51 million.<\p>
Beast chefs' frozen custard shop opens in time for scorching weekend
Cornet Custard is a business born from a pandemic pivot by Beast chef de cuisine Mika Paredes, who took the time around the Covid-19 shut down to hone her skills around sweet treats. <\p> “Everyone was making sourdough. I wanted to make frozen custard,” she said. <\p>
Nonprofit buys Old Town building for $4.7M
The Portland branch of a homeless-services nonprofit is relocating to Old Town after buying the neighborhood's Overland building.<\p> CityTeam operates in California, Pennsylvania and Oregon. CityTeam Portland will move from its current space at 526 S.E. Grand Ave. to the Overland at 205-219 N.W. Fourth Ave., which underwent renovations in 2016.<\p>
Adidas extends partnership with a Super Bowl MVP
Adidas just announced an extension of its pre-existing partnership with three-time Super Bowl champion and Kansas City Chiefs’ quarterback Patrick Mahomes. <\p> The extended partnership includes Adidas becoming the official apparel partner for Mahomes’ alma mater, Texas Tech University, and a new, co-branded apparel line featuring Mahomes’ signature Gladiator logo. <\p>
Rising California footwear brand hiring in Portland
Performance running brand Hoka, known for its chunky soles, is hiring for several positions in Portland, according to LinkedIn job postings. <\p> Within the last three weeks, California-based Hoka has posted a handful of full-time positions for a product coordinator, two senior product line managers, a materials developer and a director of product engineering. <\p>
Lack of resources restricts Portland's ability to enforce camping ban
This story is available courtesy of Portland Business Journal media partner KGW-TV. <\p> Piles of wood chips and massive tree limbs line a residential street in Portland’s Lents neighborhood, and the radio blasts from a speaker. The manmade chaos is an attempt to deter homeless camps from setting up on Todd Littlefield's street. He’s the vice chair of the neighborhood livability association and has been battling the crisis for years.<\p>
Top 10 Portland-metro bank names new CEO
Vancouver-based Riverview Bank has named a new leader with a long resume in financial services.<\p> Nicole Sherman took over the roles of president and CEO of Riverview Bank and its parent company Riverview Bancorp, effective Monday, according to a news release.<\p>
Among small businesses, there's a huge divide on finances
The smallest businesses are the ones most likely to be struggling, as larger small businesses report better conditions.<\p> The latest data from the Federal Reserve’s Small Business Credit Survey — released earlier this year but since followed up with a more detailed breakdown by size and demographics — shows how, even within the realm of small businesses, there is wide variation.<\p>
Why a 'vagabond' Oregon winemaker is taking the winery plunge
Oregon winemaker Erich Berg finally has his own winery. And the bills that go with it.<\p> "I just got an invoice for drains," Berg, who founded Ricochet Wine Co. in 2018, said. "I could buy a car with that money."<\p>
OHSU reveals a second wave of job cuts
OHSU filed a notice with the state saying it will permanently eliminate 297 jobs, including nursing positions, as part of its "strategic realignment."<\p> The job cuts were announced in a WARN Act Notification filed with the state of Oregon on Monday. <\p>
Oregon launches long-awaited plan to extend medical coverage
Oregon’s much anticipated Bridge health plan, designed for those who historically tended to churn on and off Medicaid, is now a reality.<\p> At a Monday briefing, Oregon Health Authority Director Dr. Sejal Hathi announced the launch of OHP Bridge, making Oregon the third state to offer such a plan. The benefits are similar to Medicaid, featuring no monthly premiums or cost-sharing, and coverage for physical, dental and behavioral health. <\p>
Law firm investigates Sortis Holdings' use of investor money
Portland law firm Stoll Berne says it is looking into how Sortis Holdings and related companies have used investors' money.<\p> Stoll Berne said in an online bulletin that attorneys are "conducting an investigation into Sortis Capital, Sortis Income Fund and Sortis Holdings aka SoHi Brands and their principal, Paul Brenneke."<\p>
Former Nike manager alleges retaliation in $3.5M lawsuit
A former Nike manager filed a $3.5 million lawsuit against the company, alleging he was fired for retaliation after raising concerns about misused funds.<\p> The lawsuit, filed July 1 in Multnomah County Circuit court, was made by Lamar Prince, who was a senior product manager for Nike for two years until October 2023, when he says he was wrongfully terminated for “(standing) firm in his position that the Footwear Legacy Revolution project was unjustified and contrary to the interests of Nike and its investors.”<\p>
CEO on why Oregon company is doing CHIPS Act-backed project in Florida
Rogue Valley Microdevices on Monday became the first Oregon-headquartered company to win federal CHIPS Act funding. Ironically, though, it's for an investment on the other side of the country.<\p> The Biden administration announced a preliminary $6.7 million award for the small Medford-based company to help it build a factory in Florida.<\p>
James Beard-winning Portland chef returns with new projects
Celebrated Portland chef Naomi Pomeroy is back with a new dining series ahead of a planned new restaurant on Southeast Division Street. <\p> Called Garden Party, the new series features a prix fixe menu served in the patio behind two of Pomeroy’s new projects in the 4500 block of S.E. Division. The event features communal dining for 36 people. <\p>
Small-business grants you can apply for this month
Small-business owners might be more confident about their future, but they are still worried about inflation.<\p> That’s the big takeaway from the U.S. Chamber of Commerce's Small Business Index, conducted in partnership with MetLife, which hit the highest level of optimism since early 2020, with about 73% of business owners expecting their revenue to grow in the next year. <\p>
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