Good Morning,

Stocks drop on expectations of interest rate hike + continued issues in the $40B Middle East war, Crypto regulation bill fails in Senate, Micron shares new details on $75M community investment fund, US long-term unemployment on the rise, Supreme Court rejects Trumps plan to limit mail-in voting, Fed meets today to decide on interest rates.

Let’s Rip

Landmark US crypto bill fails as Senate splits over Trump ethics concerns (FT)

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.

Providence announces $1.1 billion pledge from Phil and Penny Knight (OPB)

“Nike founder Phil Knight and his wife, Penny Knight, have pledged $1.1 billion to Providence St. Vincent Medical Center and to Providence Heart Institute, Providence announced Tuesday.

The gift is pledged over a 10-year period, with the first distribution of funds this year.

Providence plans to use part of the gift to build a new hospital tower dedicated to women’s health on the St. Vincent campus in Washington County. The hospital, which Providence says is Oregon’s first of its kind, will be anchored by an updated labor and delivery unit and neonatal intensive care unit, along with cardiac care, menopause care and gynecology.

The gift will also support new cardiovascular treatments, diagnostic tools and prevention strategies at the Providence Heart Institute, also headquartered on the St. Vincent campus.

In a statement provided by Providence, Knight said the gift will change what’s possible for communities across Oregon.

“Penny and I have always believed that real breakthroughs come from people willing to take on the toughest challenges,” said Phil Knight. “Providence has shown that kind of ambition in cardiovascular care, and we see the same opportunity to do something truly distinctive for women’s health.”

Today, women make up 60% of Providence’s patients, and St. Vincent delivers more babies annually than any other hospital in the state. But hospital leaders say the maternity unit and NICU were built in the 1990s and have grown out of date.

While the birthrate in Oregon has fallen, a higher percentage of pregnancies involve complex health conditions, from diabetes to substance-use disorders.”

WA lawmakers face another $1B decision on lawsuit payouts (WSS)

“Washington needs to spend another $1.3 billion over the next two years to address skyrocketing lawsuit payouts due to state government misconduct, according to a recently filed budget request from a state agency.

This comes after the Legislature this year already put in over $1 billion to shore up the state’s liability account. 

But claims that lead to costly settlements or jury verdicts, not to mention attorney fees, continue to stream in. Often these are attempts to hold the state to account for sometimes decades-old misconduct. Issues in the cases range from government negligence that led to childhood sexual abuse, wrongful termination and deaths in prison.

As of the end of June, the state’s outstanding liability in these cases was estimated at $4.4 billion, according to an actuarial analysis. And the state liability account is still set to be $345 million in the red by the end of June 2027, despite this year’s huge infusion.

A new state panel is seeking solutions to the growing issue, which also plagues local governments, like cities, counties and school districts. But advocates for survivors who bring these lawsuits feel much of the committee’s ideas will restrict access to justice.

“It’s been concerning to see almost an exclusive focus on the budget as a mathematical problem, and not the real human suffering underlying all of these issues,” said Kelli Carson, government affairs director for the Washington State Association for Justice, a group of trial lawyers.

“The stakes could not be higher for these survivors and the lives that they have to live after suffering the kind of abuse that they suffered,” Carson added. “They did not create a budget problem, and they shouldn’t have their rights taken away to solve a problem.”

These growing costs come as the state faces another year with a budget shortfall that lawmakers will need to deal with by reducing spending or raising more revenue through taxes and fees. Gov. Bob Ferguson has said he wouldn’t propose tax increases and would lean on cuts to make ends meet. 

This past fiscal year, the state spent over $537 million resolving these claims, an all-time high. Just five years earlier, the toll was $100 million. 

In the most recent fiscal year, which ran from July 1, 2025, to June 30, 2026, Washington spent another $90 million for the attorney general’s office and outside defense attorneys to handle litigation and for related insurance. 

At the same time, claims continue to rise.”

Teams like Parallel, Turbopuffer, and Wordsmith are already setting the pace on Attio. Get an always-on revenue engine, with agents and workflows that build pipeline, chase every buying signal, and move deals forward with your team. Whether you're working in your browser, inbox, or favorite agent, connect to your customer data in real-time through Attio's web app, MCP, API, and SDK.

Try Attio now

Send us News

Work with us

Follow on X

Keep Rippin’