Nike sues an Olympic contender, and Gov. Kate Brown develops revenue plan post-corporate tax increase.
Don’t do it. Beaverton-based Nike is looking for federal help to stop Olympic contender Boris Berain from signing with New Balance. Berain, a runner, is under contarct with Nike but has competed in New Balance gear. Nike cites “irreparable harm” if the athlete continues to atttend and compete in high-profile events wearing the competition. The U.S. District Court filing was submitted Wednesday. The Oregonian has more.
The mighty go public. Oregon grown Jeld-Wen has filed for an initial public offering. The door and window maker is now based in Charlotte, N.C., and most recently nettted a $90.0 million profit, after several years of losses. Jeld-Wen filed with a $100 million offering. Read more from the Wall Street Journal.
Should it come to pass. Gov. Kate Brown hasn’t said she supports a proposed corporate tax increase, but she is developing a revenue plan should it be approved by voters in November. Potential beneficiaries include a career and technical high school education program, tax credits for low-income families and tax breaks for companies that keep jobs in Oregon. The tax would apply to corporations with more than $25 million of sales in Oregon, generating about $6 billion annually. OPB reports.
Grocery shopping. Haggen sealed its future this week by selling its final 15 stores to Albertsons. The first sale of 29 Haggen stores to Albertsons was completed in March, just 13 months after Haggen purchased 146 Albertsons and Safeway stores. That purchase led to the company’s bankruptcy. The back and forth sales were just one part of a year-long saga, including a lawsuit against Albertsons for alleged inflated costs. The Portland Business Journal has the background.
Wind project on hold. A wind energy project in Harney County is on hold after the 9th U.S. Circuit Court of Appeals found a Bureau of Land Management environmental review failed to assess the winter population of greater sage grouse near the potential Columbia Energy Partners facility. The project would span 10,500 acres and build 40 to 69 wind turbines, but environmental groups filed a challenge to the BLM’s findings. Read more from the Register-Guard.
Missing the mark. The economy continues to recover, but a Bureau of Labor Statistics report anticipated 160,000 new jobs in May — only 38,000 jobs were added to the economy. While the unemployment rate did drop 0.3%, landing at 4.7%, that drop can be attributed instead to employees leaving the workforce. NPR explains how this happened.
Millennial dilemma. While some are still unsure if they are in fact a millennial (find out here), Forbes reports that 80% of millennials see themselves as leaders. Only 12% of the generation actually held a leadership role in 2013. Studies show the generation may consider themselves a leader from any role, a shift from the traditional management-based hierarchy.