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Prosper Portland declines to share findings of grant program report, iconic Rainier brewery asking $29M, National Guard joins wildfire fight near Hood River, Iran says ‘no deal’ with US until 2029, oil rises above $82 per barrel, Gates Foundation to donate $540M to UW, Boeing sells drone programs, Moses Lake battery company gets $1.4B loan from Pentagon.
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PNW Market Look

As of market close 8.10.26
Nvidia, Wall Street Firms Strike AI Financing Deal Targeting $500 Billion (WSJ)
From KL: The US economy unexpectedly loses -23,000 jobs in July, well below expectations of +85,000.
The unemployment rate fell to 4.1%, below expectations of 4.2%.
June's jobs number was also revised down by -37,000 jobs.
This marks the 3rd biggest monthly job loss since the pandemic in 2020.
Headline Roundup
Prosper Portland Declines to Provide Reviews of Loan and Grant Programs (WW)
New on the market: the Old Rainier Brewery (DJC)
King County awards $2.75M for food bank facilities, renovations and capital projects (DJC)
WA loosens financial assistance requirements, other state laws in effort to mitigate wildfire impacts (KUOW)
$20 million in long-term care money for WA immigrants to cover fewer than 200 people (KUOW)
Eagle-based Cascadia to take over two Oregon Avamere nursing homes (IBR)
Lam Research planning $1.7 billion investment in Tualatin (DJC)
U.S. Chamber Report Says Salem Metro Could Add 1,610 Homes a Year (SBJ)
Caldwell accepts Envision 2050 plan after wording debate (IDP)
‘Extremely surprised’: Boise P&Z puts halt to Eckert Bridge replacement (BD)
Gates Foundation to give historic $540 million to UW health institute (ST)
Intel selling $15 billion in common stock as AI demand booms (ST)
Trump signs executive order aimed at reducing number of recommended childhood vaccines (Ground)
Carhartt plans to open in former Bend restaurant space (BB)
Thistle and Nest receives over $500,000 for affording housing (COD)
Habitat for Humanity gets $350k for affordable housing project (KTVZ)
Boeing to sell off autonomous aviation subsidiaries to Archer (PBJ)
Struggling Portland metro public company eyes 'business combination' (PBJ)
Battery tech company Sila receives $1.4 billion loan commitment from Pentagon (PBJ)
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Community Highlight
Union Pacific Will Resume Freight Rail Through Gutted Building’s Collapse Zone (WW)
“Union Pacific Railroad intends to restart freight operations near the heavily damaged Centennial Mills building, which officials have warned could trigger the collapse of the building.
Since a fire ripped through the century-old flour warehouse Aug. 2, the city has enforced a cordoned-off collapse zone 150 feet in each direction. Building owner Stuart Lindquist has until Aug. 14 to begin the demolition process.
But on Monday, city officials briefed reporters on Union Pacific’s plans to restart running trains on a narrow rail corridor that passes the now-hazardous eight-story structure.
UP, the nation’s largest railroad in revenue, planned to run its first train within the hour.
“Please don’t go near it,” said City Councilor Olivia Clark, who was joined at the news briefing by fellow District 4 Councilors Eric Zimmerman and Mitch Green. “It’s a temptation, but please don’t do it. Let the professionals take care of the situation.”
UP Portland-area business manager Aaron Hunt did not return multiple messages seeking comment.
The city has limited authority to stop the trains, according to Portland City Administrator Raymond C. Lee III. “What we can voice to Union Pacific is our concerns as it relates to the impact it would have on the actual site itself and the community as a whole,” he says.
Lee said resources are now in place for the event the building collapses.
Portland Fire Chief Lauren Johnson told reporters UP has toured and assessed the site and the city has been in contact with the railroad. But it has not yet received written responses to requests for hazard mitigation plans.
She repeated the call for curious Portlanders to stay away.
UP—which has operated in Portland since the 1800s—has lately rankled Portland officials with intermodal freight trains stretching 3 miles long that regularly tie up traffic on the Central Eastside for hours at a time. The railroad is now attempting to merge with smaller Norfolk Southern in a move that’s expected to worsen train congestion in Portland by 22%, according to UP’s merger plan on file with the Surface Transportation Board.
With federal authorities now weighing the merger, Portland leaders, including Councilor Steve Novick, have said the city should press hard to get UP to mitigate its impact here.”
Rip’s Spotlight
How America Traded Logging Jobs for a Perpetual Firefighting Economy (X)
“For much of the 20th century, the forests of the Pacific Northwest were managed as working landscapes. Private timber companies and federal land managers cut, planted, thinned, and tended the land with the understanding that the trees were an asset to be sustained across generations. Clearcuts functioned as firebreaks. Small crews routinely extinguished ignitions before they became news. The result was a regional economy built on living-wage jobs, steady tax revenue for schools and public safety, and forests that, for the most part, stayed green.
Occasional fires occurred. What did not occur were the annual, multi-hundred-thousand-acre, smoke-choked seasons that have become the new normal.
That changed in the late 1980s and early 1990s. The northern spotted owl was elevated into the most consequential bird in modern American policy. Scientists and environmental organizations argued that the species required large tracts of old-growth habitat. Petitions, lawsuits, and court orders followed. In June 1990 the U.S. Fish and Wildlife Service listed the owl as threatened. Federal Judge William Dwyer’s rulings and the 1994 Northwest Forest Plan locked up roughly 24 million acres of federal forest across Oregon, Washington, and northern California.
Federal timber harvests collapsed—often by 80 to 90 percent from 1980s levels in the key regions. Mills closed by the dozens. Supporting businesses disappeared. Unemployment surged. Some communities never fully recovered. Private industrial landowners continued managing their own ground because they still had direct financial skin in the game. Federal and state lands largely stopped being managed for timber production or for systematic fuel reduction at anything approaching the previous scale.
The forests kept growing. Fuels kept accumulating. An ignition that once would have been contained by a small crew with shovels and a radio now found denser, more continuous fuel beds. Large fires (5,000 acres and up) went from relatively rare events in the 1970s to routine occurrences in the 2000s and 2010s. In multiple recent seasons, more timber has burned than the industry harvested in its heyday. The irony is difficult to miss: forests “saved” from chainsaws have been delivered to ash in far greater volume.
Meanwhile, the northern spotted owl’s population has continued to decline across much of its range. Logging was never the primary driver. Competition from the invasive barred owl has proven far more significant, and habitat loss from high-severity fire now ranks high among the threats. The original crisis was urgent enough to trigger listing and sweeping land-use restrictions. The promised recovery under the Northwest Forest Plan has been, at best, incomplete.
The economic and ecological bill arrived in the form of unmanaged fuels and repeated megafires. And that is where the dirty little secret begins.
Once the timber economy on public land was kneecapped, a new industry rose to replace it. Wildland firefighting—suppression, logistics, aviation, camps, contracts, and the supporting apparatus—became a multi-billion-dollar annual enterprise. Agencies and contractors employ thousands. Budgets are large and sticky. In government, “use it or lose it” is not a slogan; it is an operating principle. A quiet fire season is a budgeting risk. Early, aggressive attack on every ignition that could still be handled by a small crew is expensive in the short term and reduces the later need for the full apparatus. Allowing fires to grow until they justify emergency declarations, large incident management teams, and federal cost-share arrangements is, from a certain bureaucratic perspective, rational and financially advantageous.
Local structural firefighters and many ground-level wildland crews do not share this incentive structure. They want the fire out. Once a fire reaches a certain size or complexity, however, control shifts upward to state and federal incident management teams whose metrics, funding streams, and political realities are different.
Neither major political party has shown a strong appetite for fixing the underlying problem. One side treats any expansion of active management or commercial thinning as an assault on old growth and the owl. The other side speaks frequently about forest health but rarely forces the structural changes in litigation risk, planning timelines, and budget incentives that would actually move the needle at scale. Campaign contributions and jobs flow from the existing system. Admitting that the original policy overcorrected and produced a more dangerous landscape remains politically costly.
Climate change and longer fire seasons are real factors. Drier fuels and hotter summers make everything worse. But denser, less-managed forests on the public estate are the accelerant that policy deliberately chose. Private industrial lands are managed more intensively and still burn, yet the severity is generally lower. Young plantations and certain silvicultural choices create their own risks, but private owners retain a direct financial reason to keep fuels in check and respond quickly. Public lands under the post-owl regime largely do not.
Oregon and the broader region now hold more trees than they did in the 1920s, largely because private landowners continued to replant. They also experience more catastrophic fire. The government did not “save” the forest. It changed who controlled the management decisions and, in the process, swapped a productive industry for a perpetual emergency-response industry. The owl was the symbol. The lasting result is a landscape that burns bigger, rural economies that never fully healed, and a political class with limited incentive to alter the arrangement. Instead of market-driven capital allocation, the new system runs on taxpayer subsidies.
Households and businesses understand that money spent inefficiently is money gone. Government tends to treat the same dollars as an everlasting well. Until the incentives change—until early detection, aggressive initial attack, mechanical thinning where appropriate, and genuine long-term forest management are rewarded more than the sheer size of the suppression effort—the same pattern will continue every summer: more smoke, more lost timber, more money spent, and the same speeches about how hard everyone is fighting the fires that policy helped create.”
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