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Good Morning,

Micron stock called a ‘buy’ by Trump, Kevin Warsh sworn into the Fed, Tulsi Gabbard steps down as Intelligence Director, Federal Government sues Minnesota to allow online betting, Microsoft bans internal use of Claude AI due to rising costs, adult obesity rate starts to decline, inflation in the US remains high.

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Let’s Rip

PNW Market Look

As of market close 5.22.26

Headline Roundup

Iran and U.S. play down hopes for imminent breakthrough in war (CNBC)
Possible suspension of design review draws mixed reviews in Portland (PBJ)
170 TriMet workers face layoffs amid revised budget to help cut $64.5 million (Koin)
Gabbard resigns as Trump's top US intelligence official (Reuters)
Washington Passes First Statewide Scissor Stair Reform (SI)
Micron Advances Made-in-America Memory With Manufacturing Expansion in Virginia (Micron)
Microsoft’s quiet Claude Code retreat and the real cost of enterprise AI (TNW)
Seahawks next owners may want a new lumen field; good luck getting it (ST)
Seattle Social Housing Developer buys $60M apartment building (KOMO)
Mega apartment project hits construction milestone near University Village (PBJ)
Timbers secure record sponsor deals in nontraditional categories (PBJ)
Boise Airport to expand taxilane to make way for a ‘larger’ Micron aircraft (IDS)
Cd'A Tribe purchases 43K acres of timberland (SJ)

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Community Highlight

Organizers of Mount Rainier cycling event RAMROD are starting a new ride (ST)

“Despite Redmond Cycling Club’s best efforts, we are unable to reach an agreement with Mount Rainier National Park that would permit any future RAMROD course. The only options—a route outside the Park, which we feel does not capture the essence of RAMROD, or a post–Labor Day date, which is too late in the season—are not viable.

We’re excited to share an important update regarding a new event from the Redmond Cycling Club.

We’ve been following our riding community, and gravel has become one of the biggest movements in cycling. We wanted to create an experience that embraces gravel, so follow us for the genesis of what we hope becomes a new tradition: GETMAD - Gravel Enumclaw To Mowich in ADay.”

Rip’s Spotlight

Bellingham’s waterfront needs to be ‘beating heart’ of the city. Can it happen? (CD)

“On first impression, the waterfront — former site of the Georgia Pacific mill — is underwhelming. Then look across Bellingham Bay to the ASB Pond, the former G-P wastewater lagoon, also considered part of the waterfront district. The Port of Bellingham has big plans for a future marine trades site, so long as the City of Bellingham agrees.

A public divorce last year between the port and master waterfront developer Harcourt returned 16 acres of land to the port at the downtown waterfront. Now, port and city officials are poised for change, prompting two days of meetings in February and a doubling down of the 2019 sub-area plan to build out the waterfront district.

Port watchers and gadflies agree: Bellingham has the chance to do something with its waterfront that is tailored to the city yet tied to maritime history.”

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