Daimler NA names new CEO, Erickson aviation bankruptcy progresses and solar industry to boost electric share.
Daimler’s Martin Daum moves on up; new CEO named
Daum, whom we featured in our June issue, will join the management board for Daimler AG, the company’s international division. Roger Nielsen will take his place as president and CEO of Daimler Trucks North America.
Erickson bankruptcy plan approved by court
The aviation firm filed Chapter 11 bankrupcty last November faced with $561 million in debt. About $355 million of that debt is a result of its 2013 acquisition of Evergreen Helicopters (when Evergreen itself went bankrupt). Erickson’s reorganization plan will reduce its debt by $400 million and sets the company up to exit bankruptcy within the next few weeks, the Mail Tribune reports. Erickson employs more than 700 in Jackson County.
Oregon solar industry plans to provide 10% of electricity by 2027
The plan is ambitious, as solar only provided one-third of 1% of Oregon’s electricity in 2016, the Portland Business Journal reports. The plan requires boosting solar capacity from 264 megawatts to 4,000 megawatts.
Electric Avenue powers one million miles
The charging stations at the World Trade Center in Portland have now powered more than one million miles since they were installed in 2015, the Portland Tribune reports. The milestone means 46,950 gallons of gas were saved, which eliminated 418 metric tons of CO2 emissions.
Portland council approves housing bond
The council will use its $1 million in revenue from short-term rentals to fund a $9 million bond. The bond will be used to purchase new affordable housing, but it’s unclear how far the money will actually go.
Portland developer offers city 300 affordable apartments
Rob Justus of Home First Development offered Mayor Ted Wheeler a deal. Justus would build 300 apartments and sell them to the city for $100,000 each, Willamette Week reports. That’s about half the cost of what Portland is spending per apartment on the 263-unit it recently purchased. The Mayor’s office, which took a month to respond to Justus, has apparently scheduled a meeting.
TechFest NW gets started today
More than 70 startups will participate in the PitchFest, which also features panel discussions led by Rukaiyah Adams, Jeremy Plumb and Ron Wyden and more. We’ll be live tweeting different events throughout the two-day conference. Follow along @OregonBusiness.
