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Microsoft owned LinkedIn to cut 5% of jobs, Nike hits lowest price in 12 years, Lululemon hits lowest price in 8 years, Kevin Warsh confirmed by Senate as next Fed Chair, consumer debt hitting all time high, Missoula SBDC wins Star Award, REI eyes Seattle office space amid employee calls for strikes,
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PNW Market Look
As of market close 5.13.26
Cisco’s stock pops 17% on surging AI orders, as company says it’s cutting almost 4,000 jobs (CNBC)
Headline Roundup
Amazon Sells Swiss Franc Bond Offering in Record Six Parts (Yahoo)
After surge in requests, Hillsboro halts new data center tax break applications (Katu)
Business owner warns Washington’s 'millionaires tax' could spur an exodus of top earners (Katu)
Portland to close 24% of its permanent homeless shelter beds, including all safe RV parking (ORL)
Treasury Buyers Get 5% Long Bond for First Time Since 2007 (BBG)
City of Portland splits with Made in Old Town sneaker hub (ORL)
In first sale since development in 1914, O'Shea Building trades for almost $17M (DJC)
Amazon Now starts 30-minute delivery (DJC)
Drones enter Montana corner-crossing debate (MTFP)
Washington state tech layoffs are second highest in the country (KUOW)
Albertsons launches AI tool to improve produce quality (IBR)
Missoula SBDC Advisor Wins National Award for Excellence (MTC)
Boise schools project continued decline in student enrollment (IDP)
Sportswear company to close Coburg plant, eliminate 83 jobs (ORL)
$4B Seattle City Light hydropower deal gets Mayor Wilson’s signature (ST)
Idaho’s rural hospitals grapple with insurance denials, employee housing shortages, Medicaid changes (IDS)
Developers plan $130M industrial project at Portland Airport property (PBJ)
$3B OR energy project has plan to use PNW agricultural waste (PBJ)
Whatcom County implements austerity measures, effective immediately (CD)
Feds cancel conservation group’s Montana bison grazing leases (WSS)
Data centers part of rationale to investors for power merger, record shows (DM)
Large redevelopment project planned near Missoula's Hip Strip delayed by 3 years (Missoulian)
Bellevue eyes tax district for $200 million Grand Connection project (PBJ)
REI explores office options in Seattle area as Issaquah lease nears expiration (PBJ)
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Community Highlight
Deschutes County Commission races bring in over $1M in fundraising (OPB)
“The record-setting fundraising comes as four commission spots appear on the ballot, three of which are wide-open seats. Voters in Central Oregon’s largest county have overhauled local political offices in recent years. They elected to make county seats nonpartisan in 2022 and then approved adding more commissioners in 2024.
The commission, though now officially nonpartisan, has long been controlled by a Republican majority, even though voters in the most populated areas like Bend and Redmond have shifted blue in recent years. This election could upend that dynamic. State data shows the biggest spenders are an entrenched conservative incumbent facing a Democratic-backed political newcomer.”
3 attorneys seek Ada County judgeship — but one of them may be unqualified (IDS)
“Voters in parts of Idaho, including the Boise area, will have to decide between two — or even three — candidates for several open district judge seats in the May primary on Tuesday. The three-way race is in Ada County. Those candidates — David Morse, Jeffrey Street and Greg Woodard — are on the ballot to fill a single district court position in Idaho’s 4th Judicial District, which encompasses Ada, Boise, Elmore and Valley counties”
Rip’s Spotlight
40%-plus of Portland residents are considering moving (ORL)
“I’ve raised my kids here,” said Suhr, 68, a semi-retired entrepreneur. “I’ve had a good life up here. But as we’re getting older and our income becomes more fixed, we need to look at how we can make what we’ve got stashed away last.”
The main reason Suhr might move: high taxes.”
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