Law firm accuses PI Bank of aiding fraud
February 3, 2012
A lawsuit filed by Seattle-based Shim Law Firm in King County Superior Court in late January accuses Seattle’s Pacific International Bank of aiding an admitted thief in embezzling $322,136 worth of checks from the firm. A call and email to P.I. Bank senior vice president Kevin Hogan were not returned.
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Law firm accuses PI Bank of aiding fraud
Report: Erickson Air-Crane IPO delayed
February 3, 2012
Erickson Air-Crane’s initial public offering, which was expected next week, has been postponed, according to IPO advisory firm Renaissance Capital. Greenwich, Conn.-based Renaissance — which serves as an advisory firm on IPOs and also tracks the market — said the Portland-based heavy-lift helicopter manufacturer and operator had postponed the offering on Wednesday. The firm had earlier said Erickson’s IPO would hit the market sometime next week. Renaissance principal Kathleen Smith said they were unable to provide any insight as to why the IPO was postponed…
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Report: Erickson Air-Crane IPO delayed
Oregon collects $6M for forest jobs
February 3, 2012
Oregon will receive $6 million in federal funds that state officials say will help add forest management jobs. The money comes from an Agriculture Department initiative called Increasing the Pace of Restoration and Job Creation on Our National Forests. The money will back projects in the Malheur and Fremont-Winema national forests. Specifically, the program will provide $3.5 million to the Lakeview Stewardship Project, in southern Oregon, and $2.5 million for the Southern Blues Restoration Coalition Project in eastern Oregon..
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Oregon collects $6M for forest jobs
Portland fire team, rec center face cuts
February 3, 2012
Portland’s city bureaus have submitted proposed budgets that offer glimpses as to what might happen if they’re directed to cut between 4 percent and 8 percent this year. Portland’s City Council will use the budgets as they recommend ways the city could deal with money shortfalls for the 2012-13 fiscal year. Among other warnings, department leaders said: A 6 percent cut to the Portland Parks and Recreation budget would force the city to close the Fulton Community Center in Southwest Portland…
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Portland fire team, rec center face cuts
Kolisch Hartwell’s 60-year plan
February 3, 2012
The Portland Business Journal’s top law firms list didn’t change a whole heck of a lot over last year’s rankings. But in the areas the list did change, the moves were cataclysmic. Bullivant Houser Bailey PC experienced a big drop, falling from seventh to 14th. The drop wasn’t a huge surprise to those following Portland’s legal scene. What was surprising, though was the huge move made by Kolisch Hartwell PC
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Kolisch Hartwell’s 60-year plan
Regional stocks: Stocks soar on jobs report
February 3, 2012
News that the unemployment rate declined last month — the 5th consecutive month of declines — sent stocks soaring. The Dow Jones Industrial Average ended the week up 156.82 points to close at 12,862, the NASDAQ closed up 45.98 points to 2,905 and the S&P 500 closed up 19.36 points to 1,344. The Davidson 99, which measures stocks in seven western states, including 19 in Oregon, closed up 3.27 points to 176.93. Columbia Sportswear (NASDAQ: COLM) managed to post one of the largest percentage increases among area companies, despite warning of slowing growth in 2012…
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Regional stocks: Stocks soar on jobs report
Nearly 100 million in the U.S. now own smartphones
February 3, 2012
Google’s Android and Apple’s iOS both made gains in the number of mobile phones using the operating platforms in the U.S., while rivals Microsoft, RIM and Symbian slipped, according to comScore. Overall, smartphone adoption exploded during the 2011 holiday shopping season, much of it driven by Apple’s sale of 37 million iPhones last quarter. Forty percent of all mobile subscribers now own smartphones in the U.S. That’s 97.9 million people.
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Nearly 100 million in the U.S. now own smartphones
Winklevoss twins to gain $300M from Facebook IPO?
February 3, 2012
Cameron and Tyler Winklevoss could receive as much as $300 million in Facebook shares, when the Menlo Park-based social networking company’s IPO goes through, according to an NPR story Friday. Cameron said on his Twitter feed: “We r excited 4the #FacebookIPO.” The twins previously sued Facebook CEO Mark Zuckerberg for allegedly stealing their idea to create Facebook and received $45 million in non-public Facebook stock. Click here to read more Business Journal coverage of Facebook’s IPO. Written by Lisa Sibley..
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Winklevoss twins to gain $300M from Facebook IPO?
Bay Area midmarket CEOs shift focus to M&A
February 3, 2012
A new survey of Bay Area CEOs shows that they are shifting their focus towards mergers and acquisitions. More than half (56 percent) of the CEOs surveyed by the Alliance of Chief Executives said M&A was not important to their company’s growth last decade. But nearly 60 percent now say it is important (26.9 percent), very important (23.1 percent) or “of prime importance” (9.5 percent). “Companies that were financially disciplined during the downturn are looking at acquiring less fortunate competitors as a means for growth,” said Robert Sher, an Alliance director…
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Bay Area midmarket CEOs shift focus to M&A
30-month sentence for Marriott computer hacker
February 3, 2012
A computer hacker was sentenced to prison Friday for infiltrating Marriott International Inc.’s system and threatening to leak sensitive data — unless the hotel-chain gave him a job maintaining its computers. Attila Nemeth, a 26-year-old Hungarian citizen, was given 30 months in prison by J. Frederick Motz, a federal judge in Maryland. Motz also ordered Nemeth to serve three years of supervised release after his prison term, according to the U.S. Department of Justice, which announced the sentencing…
