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Good Morning,

Portlanders concerned about proposed $85b merger of railroad companies, developers want to turn old Starbucks site into small data center, Montana miscalculated millions in lottery finances, Boise State President finalist holds 12 engineering patents, energy prices in Montana to go up again, Seattle biotech company raising $288M.

Let’s Rip

PNW Market Look

As of market close 6.16.26

Yum Brands to sell struggling Pizza Hut chain for $2.7 billion as demand slumps (Reuters)

Headline Roundup

Prineville Mayor Jason Beebe resigns (KTVZ)
Helion secures world’s first regulatory licenses for fusion power plant being built in Washington (Geekwire)
CFO of Oregon’s largest affordable housing provider steps down as struggles mount (KOIN)
Microsoft's cloud infrastructure talks with Oracle collapse (Reuters)
Portland Moves to Make Union Pacific Address Its Railroad Crossing Mess (WW)
‘Small-scale' data center proposed at Starbucks HQ in SoDo (DJC)
$11 million in federal aid for WA flood victims handed out as deadline passes (KUOW)
How the Montana Lottery misreported millions of dollars (MTFP)
Salem Jobless Rate Falls To 4.9% In April As Local Hiring Shows Mixed Signals (SBJ)
David W. Hahn named lone finalist to become Boise State University's next president (IDP)
Oregon chip stocks are roaring back. Will the jobs ever return? (ORL)
Idaho Gov. Little says state is preparing for challenging wildfire season as fund drops to $0 (IDC)
Insider Decodes the $600M Moda Center Makeover (PBJ)
$400M OHSU addition is a 'top priority,' president says (PBJ)
NorthWestern Energy bills to increase again (DM)
Intel begins production of most-advanced chip, inching closer to possible Apple deal (CNBC)
Seattle biotech looks to raise up to $288 million amid plans to spin out immune medicine business (PBJ)
Tacoma Public Schools advances plans for new high school (PBJ)

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Community Highlight

Oregon Gov. Tina Kotek declares emergency due to wildfire threat (OPB)

“Oregon Gov. Tina Kotek has declared an emergency due to the imminent threat of wildfires in the state.

“Increasing heat, dry vegetation, and shifting winds continue to align and create dangerous conditions that demand immediate action,” Kotek said in a press release Tuesday morning. “I am declaring a State of Emergency to ensure all available resources — firefighting crews, aerial support, ground resources, and emergency personnel are prepared for deployments — to protect people, property, and our natural landscapes.”

Kotek noted that so far this year the state has already experienced 414 fires, which have burned more than 8,000 acres and caused multiple evacuations.

The emergency declaration is in effect through the end of the year, unless the threat significantly subsides or fire season officially comes to an end before then.”

Rip’s Spotlight

Two Major Portland Health Systems Are Getting New Chiefs (WW)

“Both Legacy Health and OHSU had earlier pulled old hands from retirement to hold interim roles amid drawn-out searches for the permanent CEOs.

Monday was the first day for Dr. Susan Huang as president and CEO of Legacy Health. Meanwhile, Oregon Health & Science University just named a new chief executive, Amy Shlossman, to oversee its hospital and clinics beginning this summer.

Both women assume command of multibillion-dollar institutions responsible for the health and well-being—not to mention employment—for much of the population of Oregon and Southwest Washington. Both will be tasked with managing skyrocketing institutional costs while keeping unions, a fatigued physician core, and the public contented.

The process wasn’t pretty, In two-plus years of searching, the health system cycled through several interim chiefs—most recently chief medical officer Renee Edwards and before that Tim Goldfarb. A short-lived permanent CEO, Tarek Salaway, lasted a little over three months before, in an ugly episode, being abruptly fired early this year by OHSU president Shereef Elnahal.”

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