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Oregon Business News
Oregon Business News and Local Stories.
Oregon’s Precision Castparts Settles Export Violations Claims For $3 Million
The State Department announced on Monday that Precision Castparts, the Oregon-based metal components manufacturer specializing in aircraft engines, generators, and other industrial equipment, has agreed to a $3 million settlement for…
Former Finance Chief Accused of Placing Oregon Investment Company Under ‘Tremendous Strain”
After chief financial officer Jefry Baker agreed to leave multi-million-dollar investment company, Sortis Capital, he ‘generated a flurry’ of calls and emails to clients, calling on them to redeem their investments.
This led to requests…
Nike Shares Dropped 5% in After-Hours Trading Following Biggest Quarterly Sales Drop in a Decade
Nike saw its shares drop 5% in after-hours trading yesterday after the announcement that the company experienced its largest quarterly sales drop in at least a decade, excluding a brief decline during the COVID-19 pandemic.
Nike also…
Whistleblowers Claim Oregon Aerospace Company Falsified Records of Poorly Finished Parts for F-35…
Two former employees at the aerospace company Selmet Inc. in Albany, Oregon, claim that records were falsified and parts poorly finished to meet production quotas and deadlines for U.S. military F35 fighter jets in a federal suit filed in…
Oregon Seafood Company Disputes Lawsuit by Former Employee Claiming to be a Whistleblower
The Portland-based Pacific Seafood Company is disputing a claim in a $2.25 million lawsuit that it falsified the weight of catches bought from shrimp boats, illegally pocketing between an additional $10-to-$20 million.
The lawsuit was…
OHSU & Legacy Health Merger Plans Await State Approval
Over a year after the merger between Oregon Health & Science University (OHSU) and Legacy Health was made public, merger plans were submitted to health officials for regulatory review on Thursday. The process is likely to take several…
NEW CEO Has the ‘Swagger and Skills’ for Nike to Regain Market Share Stature
Nike employees who are overjoyed by the appointment of former employee Elliott Hill as CEO, believe he has the ‘swagger and skills’ needed for the sportswear company to regain its market share stature.
Elliott Hill Replaces…
AI is Giving People Superpowers, Ashland Summit-Goers are Told
ASHLAND, Ore — ‘AI is giving people superpowers’ 150 attendees were told at a recent three-day summit in Ashland highlighting how artificial intelligence can help solve issues facing local communities.
AI Has Helped Solve…
Nike’s New CEO Elliot Hill To Take The Reigns As Company Pins Hopes On Growth
Following a downward run of the company’s stock, Nike’s Thursday announcement that company veteran, Elliott Hill will replace John Donahoe as CEO elicited a marked increase on the stock exchange and cheers from insiders.
Nike…
Oregon Governor Makes Move to Attract Semiconductor Research Hub into State Boundaries
Oregon Governor Tina Kotek has honed in on a parcel of 373 acres of farmland north of Hillsboro for the planned expansion of the urban growth boundary giving the state a chance of attracting a semiconductor research hub worth nearly $1…