Oregon hospitals see record profits, while Portland delays Springwater sweep.
— Sixty of Oregon’s 62 community hospitals reported record profit increases last year, averaging 54% statewide. This profit increase comes at a time of rising costs for personal health care plans. The additional number of patients with insurance is likely the cause of rising hospital profits, as fewer cases go uncompensated. Read more from the Statesman Journal.
Meanwhile in Central Oregon, a few health insurance companies might return for the 2017 policy year. Several insurers had announced reduced coverage options in Central Oregon this year, or withdrawal of coverage all together, citing an expensive individual marketplace. The Bend Bulletin reports Health Net and PacificSource have agreed to provide plans next year.
— Portland Mayor Charlie Hales pushed pause on the Springwater Corridor sweep scheduled for Aug. 1. The massive trail cleanup will now take place Sept. 1. The delay is a result of public pressure and homeless advocates who were concerned for those who live along the 21-mile trail. The Oregonian reports the delay will give advocates a chance to help those people find a place to move.
— Portland State University President Wim Wiewel announced his retirement yesterday. Wiewel says he intends to return as a part-time faculty member after a year-long sabbatical. He has served PSU’s president for nine years. Read more from the Portland Business Journal.
— About half of the Elliott State Forest is no longer viable as a logging resource due to protected wildlife such as northern spotted owls, which means the state must find a new way to produce revenue for the Common School Fund. Oregon has determined it should sell 82,500 acres for $221 million. Purchasers have to meet a list of criteria, including protection of forest stands and provide at least 40 jobs a year. OPB has more.
— Oracle announced today it is purchasing NetSuite for $9.3 billion. The purchase will reportedly strengthen Oracle’s cloud computing business. Oracle Executive Chairman Larry Ellison and his family already own 40% of NetSuite’s shares. Reuters has more.
— Three years ago, Just Mayo was created by Hampton Creek and became an instant success with vegans and those with food allergies. Hampton CEO Josh Tetrick says he wants to create the biggest food company in existence using high-tech, plant-based products. Read more from Fast Company.