Good Morning,

Fed hikes rates, Seattle teachers unions votes in favor of 9.8% pay raise over next three years, Portland Public Schools has ‘heightened risk of fraud’ per auditor, Costco expands Uber Eats partnership, mortgage applications fall to lowest level since 1995, airlines anticipate fewer flights this winter if fuel costs stay high, Idaho may see $500M surplus next year.

— Was this forwarded to you? Subscribe here —

Let’s Rip

Dow falls 700 points as losses accelerate after the Fed hikes rates, Warsh highlights inflation risk (CNBC)

Trump demands 1% or lower interest rate after first Fed hike since 2023 (Ground)

PNW Rip partners with G.A. Rogers for professional and executive hiring in the Pacific Northwest. If you’re in the area (or moving here), check them out here.

Need a side hustle? G.A. Rogers pays for successful referrals - reach out to learn more.

Profs and staff give UW a failing grade for budget and bureaucracy troubles (WSS)

“After layoffs and computer system difficulties, they want more say in decision-making processes.

“It’s that kind of unforced error,” Fowler continued, “that we just can’t afford in this environment.”

Professors, staff and lawmakers on the panel shared a dire outlook on the state of the University of Washington, with ill effects for more than 63,000 undergraduate and graduate students across three campuses. They’re calling for more staff and faculty involvement in the types of decision-making that they believe could avoid the choices they’re crying foul about.

One issue: the new Workday finance system, which critics say has led to faculty losing benefits and staff getting incorrect pay. They also say recent layoffs have caused chaos for students and staff. 

And a new system to centralize research support will take faculty time away from research and teaching while making it harder to get grants, they argue. Fowler said this could save millions of dollars in the short term, but cost more in the long run.

“Every minute that I spend doing administrative work is a minute I can’t spend writing a grant or doing research that lets me write a grant,” Fowler said. “So I think these policies are penny-wise, but will prove to be pound-foolish for the university.”

Sen. Javier Valdez, D-Seattle, said he doesn’t understand why the university isn’t more collaborative working with its employees. 

Spokesperson Victor Balta said the university “values feedback and perspectives that come in a variety of forms.”

Cuts to Medicaid that Republicans in Congress passed last summer, meanwhile, will hurt the university’s hospital system, which includes the UW Medical Center and Harborview Medical Center. The university had been a leader in federally funded research, but that money has been slashed.

Universities avoided a major hit this year as the state Legislature and Gov. Bob Ferguson had to approve cuts to address a budget shortfall. Through a switcheroo, lawmakers shifted $240 million from Washington’s capital budget into the operating accounts of two-year and four-year institutions. Those construction dollars will then be backfilled using bonds.”

Prineville company secures $80 million for flying car production facility (BB)

“A Prineville company working to bring a flying car to market has secured an $80 million investment from a Dubai-based investment group.

Samson Sky, developer of the Switchblade flying car, announced that it had signed a joint investment agreement with Matin Group and is forming a joint venture with the company to move toward production.

The deal gives Samson Sky funding to establish its first U.S. production facility, according to Sam Bousfield, the company’s founder and CEO. The planned facility will be about 180,000 square feet. Samson Sky has not announced where it will be located.

The companies said they still need to raise another $20 million to fully fund mass production of the project..

The Switchblade is a two-seat vehicle designed to be driven on roads and flown from airports. It uses a hybrid-electric powertrain and has folding wings and other flying surfaces that are enclosed within the vehicle while it is being driven.

Samson Sky says the vehicle can switch from driving to flying mode in about three minutes. It completed its first official flight in November 2023.

Samson Sky says it has reservations from customers in all 50 states and more than 50 countries. The vehicle is not yet in production.

The Switchblade is expected to be sold as an experimental aircraft. Under federal rules, owners of experimental aircraft generally must build at least 51% of their aircraft themselves. Samson Sky has said it plans to use an automated manufacturing process to help customers meet that requirement.”

Send us News

Work with us

Follow on X

Keep Rippin’