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Small business hiring at a 10 year low, Meta to limit internal AI usage, Pennsylvania beef plant to shudder, American laborers outside the labor force at three year high, Pakistan’s PM announces US and Iran have agreed to sign a deal on June 19th in Switzerland, St. Helens city administrator found dead in Columbia River, Anthropic’s Mythos AI model banned from export.
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PNW Market Look
As of market close 6.12.26
Key Events This Week (KL)
1. May Industrial Production data - Monday
2. May Housing Starts data - Tuesday
3. May Retail Sales data - Wednesday
4. Fed Interest Rate Decision and Kevin Warsh's First Meeting as Fed Chair - Wednesday
5. June Philly Fed Manufacturing Index - Thursday
6. US Markets Closed for Juneteenth - Friday
How Wall Street pulled off the biggest IPO in history for SpaceX (FT)
Headline Roundup
St. Helens city administrator goes missing in Columbia River (OPB)
‘Highly damaging’: Albertsons says Kroger tried to ‘cherry-pick’ bad stores to shed in merger deal, in fight over $600 million fee (BD)
Amazon says its data centers are 7x more water-efficient than industry average (KIRO)
The Idaho DEQ has awarded a $7,383,448 low-interest wastewater construction loan to the city of Kendrick (IDDEQ)
Higher income leave Oregon, while lower incomes move in (ORC)
With Amazon support, Bridge pays $25M for 108 Snohomish County units (DJC)
A tentative deal is reached to end the Iran war and Trump orders a stop to the US naval blockade (ST)
A global engineering firm’s fingerprints are all over the Ross Island Superfund plan (ORL)
Why ZincFive is taking the SPAC route to an IPO (PBJ)
Sea-Tac's expanded C Concourse opens after $399 million renovation (PBJ)
Timberlane Partners moves forward with 7-story project in Fremont (PBJ)
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Community Highlight
Washington state is spending $120 million on the World Cup. Will it be worth it? (KUOW)
FIFA estimates 750,000 visitors will come to the Seattle area for the World Cup, and local officials expect $845.6 million in economic impact.
Tax revenue will get a $95.8 million boost, according to economic projections commissioned by the Seattle tourism bureau, Visit Seattle. But local governments and agencies are already spending more than they’ll get back in taxes, according to KUOW’s tabulation.
Sound Transit is spending more than $20 million, with a large portion dedicated to capital investments, such as fixing the elevators and escalators at the International District/Chinatown station.
Most of the spending is just to keep people moving, including crowd management, signage, and more frequent trains on match days
Following FIFA's requirements come at a cost: $1.85 million in state funds to wipe away any trace of non-FIFA-sponsor brand names for the duration of the games, and $3.3 million to modify the width of the soccer pitch, according to the Washington State Public Stadium Authority.
Rip’s Spotlight
Inside the whirlwind 24 hours that led the White House to slap export controls on Anthropic (Politico)
The Trump administration’s decision to impose sweeping export controls on Anthropic followed a frantic 24-hour effort by senior officials to convince the company to voluntarily pull a newly released artificial intelligence model that officials believed posed security risks, according to two administration officials and a senior White House official, who like others in this story were granted anonymity because they were not authorized to discuss the episode.
On Thursday, two days after the model’s public release, Amazon CEO Andy Jassy raised concerns to the White House about the ability to bypass the model’s guardrails, according to the two administration officials and the senior White House official.
They urged Anthropic to voluntarily remove the model and coordinate with the government to address the vulnerabilities, according to the senior White House official and the two administration officials. Amodei asked for more time and information, but he made no commitments to pull the model, and at one point Bessent told Amodei directly that he was making a “bad decision,” according to the senior White House official.
Shortly after the call, the Trump administration imposed its export control on the Fable 5 and Mythos 5 models, citing national security authority and banning its use by foreign nationals, according to Anthropic. The company said the “net effect” of the order was to “abruptly disable” the models for all customers “to ensure compliance.”
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