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US pending home sales up 9.8% YoY, Electricity prices up 6%, student loan defaults increasing, Trump insider trading worries Americans, new aluminum smelter project in OK could double US output & consume 11 TWh of power, engine lubricants hit significant supply chain issue, mega consulting firm EY retracts report due to AI hallucinations, U of O cuts $65M from budget, Microsoft revenue backlog jump from $321B to $633B, Apple eyes Seattle office space.
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PNW Market Look
As of market close 5.15.26
NextEra to discuss paying about $76 per share for Dominion, Bloomberg News reports (Reuters)
Century Aluminum advances Oklahoma smelter project, CEO says (MD)
Berkshire’s new CEO overhauls portfolio, dumping a slate of stocks (CNBC)
Headline Roundup
4 crew members eject safely after two Navy jets collide during air show in Idaho (AP)
Redmond to raze old police station, install ice skating rink (BB)
EY retracts study after researchers discover AI hallucinations (AFR)
Oregon pear farmers seek federal aid after around $40 million in losses (KPTV)
The Seattle Mariners and Live Nation are joining forces to create a new major concert venue near T-Mobile Park in Seattle’s SODO neighborhood. (MNW)
Oregon nuclear company has nearly $5B market cap but revenue is scant (PBJ)
A big Portland-area technology company has announced its laying off 20% of its global workforce. (PBJ)
Seattle ranks 5th in population growth as large U.S. cities see slow gains, some declines: (KOMO)
News on the UO budget and the road ahead (UO)
Nearly 1,000 high-end homes approved for Caldwell (BD)
Sound Transit officials chase more money to close $35B funding gap (ST)
How Oregon's fragmented tech strategy is holding back startups (PBJ)
(MT) Rosebud Coal Mine has laid off more than 60 workers after mild winter (BDC)
Trump warns Iran 'clock is ticking' as peace deal progress stalls (Ground)
Spokane's cinematic ascent: TV, film industry captures sustainable growth (SJ)
Sources: Apple closing in on big office lease at Arbor Blocks complex (PBJ)
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Community Highlight
Salem Adopts Five-Year Strategic Plan (SBJ)
The plan sets broad priorities for economic development, infrastructure, public safety, city services and governance. Read the report here
Rip’s Spotlight
Buttigieg speaks on Montana Plan, hosts town hall in Butte (DM)
“Butte, Montana, knows a thing or two about what happens when special interests and corporations get out of control,” Buttigieg said. “These days when we say that corporations are buying politicians, we usually mean it more as kind of a metaphor. There was a time in Montana where it was literally true, and they say that William Clark said he never bought a man who wasn’t for sale, wearing that corruption out in the open, something we’re starting to get familiar with again.”
“The tradition of this state shows that you don’t have to accept the unacceptable, and that’s what the Montana Plan is,” Buttigieg said. “The cleverness of the Montana Plan is it flips the script on these corporations that have claimed to have the exact same civil rights that you and I do — and don’t get me wrong, I want businesses to thrive, I want businesses to be treated fairly — but a corporation is not the same thing as a person.”
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