Nike drops its suit, and another initiative has qualified for the November ballot.
Nike forfeit. The athletic apparel giant dropped its lawsuit against Olympic hopeful Boris Berian late Thursday. Nike reportedly made the decision to withdraw the suit after a judge declined to make an immediate ruling. The suit was an attempt to prevent Berian from competing in any competitor’s gear. The Portland Business Journal has more.
Ballot measures pile up. Another initiative has qualified for Oregon’s November ballot. Initiative Petition 65 would fund career technical education and college readiness for all Oregon school districts. The funding — proposed at $800 per high school student — would come from “new, unallocated revenue.” Read more from the Statesman Journal.
Legal battle continues. The Oracle versus Oregon trial is still six months away, but the state’s legal tab has already surpassed $10 million. The Portland Tribune reports the two parties continue to meet to discuss the state’s lawsuit over the failed healthcare site, with the hope to settle the case out of court.
B Corp list grows. Another Oregon business has received B Corp certification. Oregon Cherry Growers, based in The Dalles, is among the first agricultural cooperatives to earn a B Corp certification. Oregon Cherry Growers was founded in 1932, and encompasses more than 2,500 acres of cherry orchards.
Pot tally exceeds expectations. Revenue from recreational marijuana sales continues to beat state estimates. In the first five months, the state has now received $14.9 million in recreational taxes. OPB reports that means nearly 12,000 pounds of marijuana have been sold to date this year.
Failure and the entrepreneurial journey. I attended the Oregon Entrepreneurial Summit this week. Read my roundup here.
BREXIT. OB Research Editor Kim Moore walked into the office this morning with a stunned look on her face. “I can’t believe it, said Moore, a native Brit who just yesterday told her fellow co-workers there was little chance of the Brexit vote passing.
So much for all that. ICYMI, in a stunning move, Britain’s voters decided to leave the European Union with a 52% vote. In the wake of the decision, Prime Minister David Cameron resigned this morning, effective by October. The decision has huge implications for Britain, including the British pound plunging to a record low. The U.S. stock market took a nosedive, down nearly 3% this morning. USA Today has more.
As for Moore — she holds an EU passport and doesn’t know what the future will hold. “I guess I won’t be getting a job in Europe,” she said.
VW makes a deal. Details are being released from a deal reached between Volkswagen and U.S. regulators over the automaker’s emissions scandal. The deal is officially due to a federal judge June 28. NPR reports VW will pay $10 billion to its customers, as well as an additional $4 billion to develop cleaner vehicles.