Ship size latest threat to Port container service, insurers scramble to submit plan rates and Jive Software sold.
Large container ships threaten Port’s ability to revive service
Container ships are getting larger and larger, to the point that Port of Portland’s cranes would not be able to accommodate the loads, Capital Press reports. That’s a problem for the Port, which aims to revive its container service. The Port took control of its container terminal earlier this year but needs to convince carriers to return to Portland.
Insurers scramble in uncertain market
Oregon insurance companies received an extended deadline to submit proposed rates — from today to May 15 — but federal action has created a cloud of uncertainty over the market, the Bend Bulletin reports. Insurers say they don’t know how much to charge or where to sell because at any moment, the federal government could change the rules. Despite the uncertainty, the Oregon health market seems to be stabilizing. Insurers spent $51 million less on policyholders last year.
Jive Software sells for $462 million
Portland’s original software startup is selling to Texas investment firm ESW Capital, the Oregonian reports. Jive will be integrated into a software business portfolio managed by ESW Capital, knows as Aurea. Jive is now headquartered in California, but the largest office remains in Portland. The office laid off 100 employees last year to save $10 million in 2016. Jive hasn’t commented on the future of its Portland office.
Oregon economists on Trump’s first 100 days
Trump promised to deport million of immigrants, repeal and replace the Affordable Care Act, invest $1 trillion in infrastructure and rewrite trade deals. Most of those promises have gone unfulfilled. Oregon economists say if Trump does succeed in implementing his agenda the state could suffer, the Register Guard reports. For instance, doing away with trade deals would negatively impact Oregon’s economy, which relies heavily on exports. Farmers are already concerned about his threat to curtail the program for H1B workers, who are heavily represented in the ag industry. Economists also say the uncertainty surrounding the insurance market has left insurers unsure of how to price products and led to hiring freezes.
Fred Meyer tries to rebrand as upscale market
At least that’s the goal of the Eugene location, which is one month into a seven-month, $16 million remodel, the Register Guard reports. The 180,000-square foot store will be overhauled and will eventually include a New York City specialty cheese shop, a small wine and beer lounge and a platform for online ordering.
Eastside Distilling purchases Hillsboro company
Big Bottom Distilling has a new majority stakeholder: Portland’s Eastside Distilling, the Portland Business Journal reports. This is the second distillery purchase by Eastside this year; the company bought Motherlode Craft Distillery in March. Big Bottom will remain a separate entity.
Monday metro disruptions
TriMet’s three-week MAX project begins today, which will cause major commuter delays. Also on deck today: May Day protests in downtown, which are scheduled to begin at 3 p.m., the Oregonian reports. Commuters beware.