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|Thursday, October 22, 2009|
Managing editor Ben Jacklet spent two weeks immersed in rural Oregon’s timber towns to investigate how these communities, once buoyed by abundant wood product operations, would reinvent themselves to survive. The story states the salient issue: “These towns are left with an unenviable choice: diversify or die. Only how?”
In this special report that begins on page 26, Trouble in Timber Town, Jacklet finds the answers as varied as the towns themselves. But from Prineville to Oakridge, to Roseburg and on out to Burns-Hines, the thing that holds true for all of them is that the future is surely in the hands of the local private and public sector entrepreneurs — those folks who won’t and don’t give up.
That same unsinkable attitude was evident when three members of the Portland chapter of the Entrepreneur’s Organization (EO) came visiting a few weeks ago. The EO has 69 members whose companies have an average of 28 employees and about $6 million in revenue. Classic small to medium businesses that are the backbone of Oregon’s economy.
JD Elder, the president of the local chapter, knows something about hard times. He owns Elder Demolition, which has been walloped by the housing industry collapse; his revenues have shrunk from $7 million to $3 million. The biggest issue facing him and most of his colleagues is that banks “are cutting us off at the knees.” Bank lines are being reduced and certain sectors, like construction, “have just been cut loose.”
Elder’s assessment is true nationally. A recent story from Reuters reported, “Small companies create more than half of America’s jobs, but the entrepreneurs who drive this part of the economy continue to complain that access to credit two years into the recession is scarce.” And according to a survey by the Federal Reserve Board, most banks will keep their lending standards tight until at least the middle of 2010.
But despite that challenge and more, you can’t keep a good entrepreneur down. Bryan Howe, CEO and founder of MasterPlans.com, a company that writes business plans for entrepreneurs seeking funding, says business has dropped by 30% since last year. But even though business is off, Howe sees more optimism in clients this year.
“I don’t hear about anyone throwing in the towel and going back to work for someone else,” says Jill Nelson, CEO of Ruby Receptionists, which provides virtual receptionists to companies. “Once an entrepreneur, always an entrepreneur.”
It will be entrepreneurs like these — from the big city or the small town — and the employment they provide that is the key to reclaiming a healthy economy.
Jobless recovery? Let’s not kid ourselves, or at least, let’s not buy into the label that local and national economists are using. It isn’t a recovery until the jobs come back.
Thursday, July 03, 2014
BY TED AUSTIN & MIKE BAELE | GUEST CONTRIBUTORS
The Office of Economic Analysis announced that Oregon is currently enjoying the strongest job growth since 2006. While this resurgence has been welcome, the lingering effects of the 2008 “Great Recession” continues to affect Oregon businesses, especially with regard to estate planning and business succession.
Friday, July 18, 2014
BY JASON NORRIS | OB GUEST CONTRIBUTOR
Back in May, we shared a common Wall Street quote about investing, “Sell in May and go away.” Fast forward to July and the most common question we have been getting from clients is, “When is the market pullback going to occur?”
Wednesday, July 09, 2014
BY LINDA BAKER | OB EDITOR
Scott Kveton, the CEO of Urban Airship is taking a leave of absence from the company. As the story continues to unfold, here’s our perspective on a few of the key players.
Thursday, July 24, 2014
BY CLIFF HOCKLEY | OB GUEST CONTRIBUTOR
With the increasing retirements of Baby Boomers, a massive real estate shift has created a significant increase in demand for NNN properties. The result? Increased demand has triggered higher prices and lower yields.
Tuesday, August 19, 2014
BY TOM COX | OB BLOGGER
Tom Cox interviews Steve Balzac, author of "Organizational Psychology for Managers."
Thursday, August 28, 2014
OB Research Editor Kim Moore shares some pointers about the 100 Best Companies to Work For survey.
Monday, August 25, 2014
BY JASON NORRIS | OB GUEST BLOGGER
Ferguson Wellman’s investment views on the economy and capital markets.
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Vigilant enters a New Year with a new president.
How George Fox has become one of Oregon's largest private universities.
Forest Grove sees growth in the burgeoning food and beverage scene.
Lane Powell Shareholder William T. Patton has been appointed to the board of directors for Cascade AIDS Project, an organization that provides educational services and outreach to thousands of Oregonians living with HIV/AIDS.
Fifty-one Lane Powell lawyers were recently selected by their peers for inclusion in The Best Lawyers in America® (Best Lawyers) 2015; of those selected, 23 lawyers are from the Firm’s office in Portland, Oregon.
Barran Liebman is proud to announce that Andrew Schpak, a Partner of the firm, has been named Chair of the American Bar Association’s Young Lawyers Division for the 2014-2015 bar year.