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Amazon stock has largest single day jump since 2012, Pacific University launches first three year Bachelor’s program in Oregon, hundreds of structures burned and thousands evacuated from Spokane area wild fires, Idaho declares August ‘Transparency Month,’ PGE asks for another rate increase, Montana tourism spending hits $5.6B, Missoula wants to increase property taxes.

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PNW Market Look

As of market close 7.31.26

Chamath’s AI Investing guide (X)

Warsh raised changing frequency of Fed policy meetings, NYT reports (Reuters)

Headline Roundup

Amazon soars as cloud revenue surge allays fears over ballooning AI bets (Reuters)
Oregon’s first 3-year in-person bachelor degree program will have reduced cost, credit demand (KOIN)
US economic growth slows unexpectedly in second quarter (FB)
Eastern Washington fires have burned 600 structures and forced the evacuation of 5,000 homes (OPB)
Amazon's robotaxi wins key approval (DJC)
Salem Chamber Pushes Back Against Cherriots Payroll Tax Proposal (SBJ)
Boise's overflowing demand for liquor licenses leaves businesses high and dry (IDP)
Boise, Nampa chambers among tourism marketing grant awardees (IDP)
Micron paid $7.35M in Ada Co. taxes. An Idaho law saved it tens of millions more (IDS)
Shon Barnes receiving over $590K to step down as Seattle’s police chief (ST)
Controller declares ‘Idaho Transparency Month’ with stakeholder discussions, government access tips (IDC)
Tax deal reached for Lam's $1.5B Tualatin expansion (PBJ)
PGE to propose another rate increase (PBJ)
PSU asks city to commit $44M for new arts venue amid Keller debate (PBJ)
Montana nonresident tourism spending increased to $5.6 billion last year (DM)
LaunchPad INW nabs bioscience ecosystem grant (SBJ)
As Americans go direct with GLP-1 prescriptions, Walmart, Costco, Amazon will be big weight-loss winners (CNBC)
Visa lays off dozens of Bellevue workers, citing AI (PBJ)
Google grows Seattle-area workforce as Kirkland Urban plans remain on hold (PBJ)

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Community Highlight

‘This is a crisis’: Small Oregon city appoints short-term city manager amid staffing exodus (ORL)

Seattle City Council limits zoning appeals in bid to speed housing construction, despite concerns (KUOW)

“The Seattle City Council voted 5-4 this week to shield many citywide zoning changes from appeals to the city's hearing examiner — a move supporters say will speed housing construction, but critics argue weakens an important check on government.

The vote came near the end of a marathon public meeting that highlighted a broader debate over how Seattle balances the need for more housing with neighborhood concerns about growth and change.

The State Environmental Policy Act requires a report on the environmental impact of government actions. Based on the report, the state may require further study, or determine that the change is “nonsignificant.”

City leaders claim that appeals to the hearing examiner have delayed zoning reforms for half a year on average — or sometimes multiple years — slowing housing production and driving up housing costs before most appeals are withdrawn or rejected.

They also argue that eliminating the right to appeal to the hearing examiner, specifically, could speed up zoning changes related to Seattle’s Comprehensive Plan, which aims to spur at least 80,000 more housing units by 2044.

Opponents of this week’s change said the appeals process has helped communities push back against potentially harmful city decisions.

Many of the laws that slow down zoning changes today are rooted in historic frustration with cities and states that, for many decades after World War II, seemed intent on paving over historic structures, like the Pike Place Market, neighborhoods like the Chinatown-International District, and green spaces, in favor of putting more highways everywhere.”

Rip’s Spotlight

Big Day of Mountain Biking at Crankworx Whistler with Downhill, eMTB & Whip-Off Action Taking Over (PB)

Salem-Keizer School District to close 8 elementary schools starting in 2027 (KPTV)

“According to the district, it served more than 40,000 students across 65 schools a few years ago. Now, the district has just about 35,000 students enrolled.

Superintendent Andrea Castañeda said the downsizing would benefit students.

“We actually no longer need to operate 65 school sites, and in fact, it is an opportunity for us to concentrate our resources and improve the conditions for teaching and learning by operating fewer sites that are well utilized and well-staffed,” Castañeda said.”