Morning Roundup: Legislators call on banks to accept pot biz; Adidas opens U.S. facility

Lawmakers seek banking access for marijuana businesses, while Adidas opens its first U.S. production facility.

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— State lawmakers passed a resolution yesterday calling on Congress to pass laws providing marijuana businesses access to banking. The charge was led by Oregon legislators, including Senate Majority Leader Ginny Burdick, D-Portland, Senate Minority Leader Ted Ferrioli, R-John Day, and Rep. Ann Lininger, D-Lake Oswego. Many marijuana businesses still operate on a cash basis and pay their taxes via duffel bag of cash. The Statesman Journal has more.

— President Barack Obama, meanwhile, intends to remove a roadblock to marijuana research. Until now, the only institution that could conduct marijuana research was the University of Mississippi. The new policy will soon allow other institutions to apply to conduct research. Read more from the New York Times.

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— Adidas is set to open its first production plant in Atlanta. The “Speedfactory” plant will employ 160 workers and rely on automation to make the product as requested by the consumer. The Portland Business Journal has more.

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— The Portland City Council voted 3-2 in favor of allocating Terminal One land for a homeless shelter. The shelter, proposed by developer Homer Williams, would take place in two parts. The first is a temporary shelter operated by the Portland Rescue Mission with the capability to house 400. The long term goal is a permanent shelter for more than 1,000. OPB has more.

Before the council approved the land allocation, Homer Williams had announced he’s working with Right 2 Dream Too co-founder Ibrahim Mubarak to run the shelter. Mubarak told Willamette Week that while no decision has been made, if the council voted in favor, he would consider taking on the project.

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— D.R. Johnson’s cross-laminated timber panels have been certified to withstand fire for at least two hours. The panels were given the highest safety rating by QAI Laboratories, according to the Portland Business Journal. It seems CLT really is on its way to being the building material of the future. 



— Macy’s has announced it will close 100 more of its stores nationwide. The Oregonian reports the department store chain has yet to confirm if Portland’s location is on the list. Most of the closures will occur after the holiday shopping season.

— General Mills will face a lawsuit for its Cheerios Protein, which the company marketed as a high-protein product. The cereal was actually the same as regular Cheerios, but with 17 times the sugar content. Reuters has more.