CEO tax puts Portland on the map, Mentor CEO receives $25 million from company sale and Oregon lawmakers want to repeal sanctuary immigration law.
1. Portland approves CEO tax
The surcharge will be applied to companies whose executives make more than 100 times that of the average worker. The CEO tax, led by outgoing Commissioner Steve Novick, is the first of its kind in the nation. The tax will take effect in the new year, after the Securities and Exchange Commission’s rule requiring public companies to calculate their executive’s pay compared to their median pay goes into effect, the New York Times reports.
2. CEO Wally Rhines will receive $25 million from Mentor Graphics sale
The details of Mentor’s sale to Siemens were released earlier this week. Siemens first approached Mentor about the sale last year and outbid several other interested buyers, the Oregonian reports. The filing also detailed “golden parachute” payments to Rhines and President Gregory Hinckley, in addition to their employment contracts. While Rhines receives $25 million, Hinckley receives $19.9 million.
3. Oregon proposed ballot measure would repeal sanctuary immigration law
Two Oregon lawmakers have proposed a ballot measure that would repeal a 1987 statute that prevents police from enforcing federal immigration laws, OPB reports. The current statute says police cannot arrest immigrants if their only violation is their immigration status. Although Reps. Sal Esquivel and Mike Nearman gathered 1,000 signatures, as required to begin the ballot measure process, the Department of Justice has refused to issue a ballot title. The DOJ said the Representatives were not clear about what the measure would do when collecting signatures.
4. Debit app developed to pay for cannabis
Known as CanPay, the app was developed by a former Bend resident who is bringing his app to the state. The app allows users to pay electronically at marijuana retailers, the Bend Bulletin reports. This would allow dispensaries to reduce the amount of cash on-hand, as long as retailers have a bank willing to accept their electronic deposits. CanPay is already being used in Washington and Colorado.
5. Oregon regulatory snafus slow down cannabis industry
BDS analysis shows dispensary sales tanked after regulations took effect Oct. 1; situation appears worse in November
6. 100 Best Fan-Favorite Destinations in Oregon announced
We unveiled the list yesterday at the first ever 100 Best Destinations event.
7. On the Scene: A recap of our seminar on online reputation management
Negative online reviews are a fact of life. A trio of social media experts discussed the issue during an OB panel discussion yesterday.