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Oregon Business News
Oregon Business News and Local Stories.
Karen Lynch, CEO Of CVS Health, Departs Amidst Tough Year For Druggist Chain
Investors in the drugstore and health insurance mammoth, CVS Health, saw share prices fall by 19% this year and the company expects the trend to continue. CEO Karen Lynch has now stepped aside in the context of this and several other…
Tesla’s ‘Full Self-Driving’ Under Investigation By Federal Agency
Vehicle manufacturer Tesla’s “Full Self-Driving” system has come under the spotlight as the National Highway Traffic Safety Administration (NHTSA) investigates reports of Tesla crashes in low-visibility conditions, including one that killed…
“Oregon Rebate” Measure 118 Could Turn Out To Be A Financial Burden
UPDATE: Fierce Opposition to Oregon Measure 118 at the Polls Defeats Attempts to Establish a Basic Income Program
Measure 118, the controversial measure on the Oregon ballot on November 5 and named the “Oregon Rebate” by proponents,…
1,300 Intel Layoffs Planned At Hillsboro Campus
After posting a loss in excess of $1 billion in August, the chipmaker Intel said on Tuesday that 1,300 Oregon workers will receive notice this week that they will lose their jobs next month. The layoffs are one of the biggest rounds in…
eBay Renews Downtown Portland Lease Despite Industry’s Remote Work Trend
The commercial office lease of online marketplace eBay in downtown Portland has been renewed, suggesting that the remote working trend among Oregon software companies may not be on the cards for company workers.
eBay Portland…
Agriculturists Could Hamper Oregon’s Bid to Become a High-Tech Industry Research Hub
Semiconductors do not need A-Class prime farmland to thrive is the nutshell reaction of agriculturalists opposed to the incorporation of 373 acres of farmland into the Portland urban growth boundary to allow for the establishment of a…
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…