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Jeff Bezos’ Blue Origin lost their New Glenn Rocket in unexpected explosion, Washington’s Wild Waves theme park closing to make way for warehouse, another Oregon insurance company cutting staff, Blackstone taking 50% loss on Seattle office tower, Oregon in-migration slowing.
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PNW Market Look
As of market close 5.29.26
Berkshire Hathaway to buy Taylor Morrison for $8.5 billion in housing push (CNBC)
Key Events This Week (X)
1. May ISM Manufacturing PMI data - Monday
2. April JOLTS Job Openings data - Tuesday
3. May ISM Non-Manufacturing PMI data - Wednesday
4. Initial Jobless Claims data - Thursday
5. May Jobs Report - Friday
6. Total of 7 Fed Speaker Events This Week
Headline Roundup
Oregon lands $37.5 million in federal-backed funding to keep rural maternity care open (ORL)
Sound Transit board approves 25-year light rail plan in 16-2 vote (KOMO)
Boise removes parts of Kaixo Corner art installation, citing safety risk (KTVB)
Wild Waves site targeted for 1M-square-foot industrial warehouse (KOMO)
Oregon-based insurer PacificSource is planning another round of layoffs (KOIN)
Seattle private equity firm expands portfolio with acquisition of pharmacy company (PBJ)
Sound Transit board adopts cost-saving plan that cuts Ballard line short (PBJ)
Blackstone to sell Seattle office tower for less than half of its 2019 price, report says (PBJ)
Seattle Social Housing Developer approves $60 million acquisition (PBJ)
Boise Centre considers River Street expansion (IDP)
Is migration into Oregon cooling again? Driver’s license data suggests a slowdown (ORL)
Inside Micron’s $50B expansion: ‘We’re running our own little city out here’ (IDS)
Blue Origin rocket explosion rattles Jeff Bezos’ firm, Amazon and NASA (ST)
Idaho schools reduce staff amid rising costs, enrollment declines (ICS)
Metro Chamber selects ECOnorthwest manager to lead real estate policy coalition (PBJ)
Yellowstone Club developer’s new plan puts ‘soul of Flathead Lake’ at stake, locals say (Missoulian)
Mapped: America’s Unemployment Divide (VC)
Oregon boosts STIP funding for Interstate Bridge to $5.7 billion (DJC)
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Community Highlight
Oregon utility regulators deny PacifiCorp’s temporary rate hike request (OPB)
“The Oregon Public Utility Commission will not allow PacifiCorp to increase what it charges customers by 2.8% any earlier than next March.
The utility had asked regulators to allow an interim rate increase, citing a need to improve its credit rating
“The commission is really evaluating carefully, are we at a point where reliability is at risk or important upgrades are not going to get done? And that really shapes our decision,” said Tawney.
But, she said, what matters most is the utility’s ability to provide electricity to customers.
“Reliability does not seem to be at risk today,” she said. “That could change and we would revisit the decision.”
The company paid out about $2 billion in claims to Oregonians after a series of devastating wildfires in 2020.”
Rip’s Spotlight
The Story Behind the Abrupt Departure of One of Oregon’s Highest-Paid Public Employees (WW)
“It’s not every day that a public employee in Oregon walks away from a job that pays nearly $850,000 a year.
Julene Quinn, a Portland workers’ comp lawyer who previously worked at SAIF, was also surprised at Terhune’s compensation. “Holy moly,” she said.
On Dec. 10, 2025, six months after the SAIF board praised Terhune in an annual review and raised his bonus from 40% to 45% of his $592,307 base pay, a sexual harassment complaint by an anonymous employee came through on SAIF’s internal hotline.
OJP obtained a partially redacted copy of the complaint through a public records request.
“I am worried about the safety and well-being of other employees,” the complaint said. “There have been happy hours scheduled on [female SAIF employee’s name withheld] calendar that include just her and Chip and I know that other female employees have been invited out after working hours to meet him as well. He is often seen hugging female employees, along with emailing them, texting and calling them after hours.” (Terhune is single.)
Emails show SAIF immediately hired the Barran Liebman law firm to perform an “ethics complaint investigation.” Jill Gragg, SAIF’s chief legal counsel, oversaw the investigation and gave regular email updates to the corporation’s five-member board of director”
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