New Seasons works to speed up card transactions, while Nike leaves the golf game.
— Waiting for those new chip-enabled debit cards to work is a pain. New Seasons is partnering with a San Francisco company, Index, to cut the chip-based card processing time from 13 seconds to three seconds. Index will reportedly allow users to insert and remove chip cards quickly, rather than leaving them in the machine. At this time, only the Grant Park New Seasons in Portland has the new chip readers. Read more from the Oregonian.
— Nike announced yesterday it will transition out of golfing equipment to focus on golf-related footwear and apparel. Since introducing its first club in 2002, USA Today reports Nike has struggled to compete with companies like TaylorMade and Callaway.
— In other athletic-wear news, Nike and Adidas are well represented at the Rio Olympics, which opens tomorrow. Nike is fitting teams with 3-D printed silicone protrusion to redirect airflow for runners. Adidas redesigned swimsuits to include an elastic band intended to streamline body positions. Adidas went as far as to design a suit specifically for breaststroke competitors, adjusting for the frog kick swimmers use. Read more from the Register Guard.
— Precision Castparts CEO Mark Donegan was the subject of an unflattering profile by Bloomberg. Precision has issued a response to the profile, which cites anonymous sources who question Donegan’s management style. Precision alleges numeous factual errors in the article. The Portland Business Journal has more.
— A nationwide study by the National Partnership for Women & Families gave Oregon a B+ for its family and medical leave policies. The group said in a press release that while Oregon has made significant progress, “working families still lack some basic protections.” California is the only state to receive an A. The study was conducted for the 23rd anniversary of the Family and Medical Leave Act. Family leave has been a hot topic in Oregon recently, as many businesses consider the benefits of extending paid parental leave.
— Intel issued a smartwatch recall yesterday for its Basis Peak line. Some of the watches were reportedly overheating, which can cause blisters to wearer’s skin. Intel had searched for a software fix but was unsuccessful. The Oregonian has more.
— The Technology Association of Oregon, which is based in Portland, has expanded to Central Oregon. The networking association also lobbies on issues statewide. Although an offshoot of the Portland group, the Bend Bulletin reports the Central Oregon group will set its own priorities.
— Editor Linda Baker sat down with Schnitzer Steel CEO Tamara Lundgren to talk global headwinds, U.S. infrastructure and progress toward gender diversity in executive ranks.
— The National Institutes of Health will soon be able to conduct federally-funded research on embryos that are part human, part animal. A moratorium on such experiments was imposed in September. But scientists now believe they can prepare for any ethical issues, which include, apparently, accidentally creating an animal with partial human brains. NPR has more.
— Mortgage rates appear to have leveled off. Rates steadily increased this past month, but have started to decrease the Washington Post reports. The average rate is 3.43 percent, down from 3.48 last week and 3.91 last year. This trend will erase the gains made so far this summer.