Today’s news headlines: Portland container shipping: Farewell to all that
Last call. Only one company provides shipping container service to the Port of Portland — and it’s packing its bags to never return. Westwood Shipping will make one fina call to Portland on Saturday. Its departure adds to the woes facing the Port of Portland and businesses that rely on container service; as The Portland Business Journal reports, Executive Director Bill Wyatt doesn’t expect new container providers in the near future.
Across the ocean. A recent transplant to Bend, Kollective Technology — which creates a secure communication service for employees, including streaming video — has raised $12.3 million to launch new products and expand its company to Asia. The investment comes from four venture-capital groups located across the U.S. The Bend Bulletin reports the financing will also fund a hosting migration to Microsoft Azure.
B-Corps racks up another one. Woodburn-based Crosby Hop Farm is the first in its industry to receive B Corp certification, a green stamp of approval companies recieve after months of sustainable practices evaluation by the nonprofit B Lab. The farm is one of 68 companies to receive the distinction so far in Oregon. The Statesman Journal has more.
Missed opportunity. Of the 16 school districts seeking bonds, only seven were successfully passed by voters. OPB reports that these failures will cause a ripple effect when those successful bonds seek matching funds. This year was the first chance for Oregon schools to get state funding for construction projects, but a district bond was required first.
Bright future. The Federal Reserve thinks the economy is strong enough that interest rates could increase this summer. Rates were first increased in December, the first increase from near zero after the recession. Although the Fed thinks the increase will happen, Reuters reports Wall Street is less certain.
Trade locked. Although touted as beneficial to the U.S. economy, the proposed Trans-Pacific Partnership is languishing. President Barack Obama signed the trade pact in February — and will soon depart for Vietnam and Japan to highlight the TPP’s benefits. But the pact faces stark opposition for the potential damage to American jobs. However, economists say it would do more good than bad, overall. NPR has more.