APRIL 2008: AROUND THE STATE

Cascades’ stock plummets


BEND

Bank of the Cascades, the third-largest bank headquartered in Oregon, saw its stock price drop to its lowest level in five years in March after more than doubling its forecast for fourth-quarter 2007 credit losses from $7.5 million to $15.6 million.  

The Bend-based bank profited mightily from a recent boom in residential real estate, and now it is scrambling to cope with the subsequent bust. “As we navigate through this challenging downturn in the real estate market, we will continue to monitor our loan portfolio and take appropriate measures to reserve against the risks posed,” said CEO Patricia L. Moss in a statement that accompanied the bank’s Feb. 21 announcement of the losses.



 Have an opinion? E-mail feedback@oregonbusiness.com

Current Issue | SEP 08

Around the State

Season fuels fire business
It was tragic but not surprising that the nine people who died in a helicopter crash in Northern California Aug. 5 were working for a company based in Oregon.

Walker attacks ethanol law
Just weeks before Eastern Oregon gas stations will be required to sell fuel blended with ethanol, one lawmaker is already reconsidering the state’s year-old renewable fuel mandate.

Buzzing with the latest jargon
For University of Oregon professor and Economist’s View blog founder Mark Thoma the term “stagflation” is old news.

Nurses remain recession-proof
While many employees throughout Oregon are losing their jobs or worried about keeping employed, nurses are proving to be immune to the sick economy.

Graphic: Timber harvest drops in most Oregon counties

View all Around the State >


Advertisement | Advertising

Biz Life

Tactics: Brian McMenamin of McMenamins
McMenamins is an Oregon-style empire — getting big but still working hard to be quaint.

Office policy: Keep politics in its place
As the nation enters the boxing ring of presidential campaigning this fall, it’s not unusual for the jabs of political convictions to enter the workplace, too.

Tuition programs are good investments
In the ups and downs of the economic cycle retaining skilled workers remains a constant concern for businesses.

Next: Labeling food with lasers
Admit it. Peeling those little stickers off fruits and veggies is annoying.

View all Biz Life >

Lists

Deal Watch: Portland video processor raises $5.5M

The top-paid CEOs in Oregon

View all Lists >

From The Editor

Lions, tigers, bear markets
It’s been a difficult spring and summer: The economy cyclone flattened the house; the yellow brick road expansion has run out of funds.

View all Editorials >

Feedback

Most readers have made business changes to address climate change

View all Feedback >