|| Print ||
|Articles - June 2011|
|Wednesday, May 18, 2011|
Page 2 of 4It’s in times like these that the company — through Moyer or Sturgeon — has been known to buck its own policy and seek the media spotlight.
In 1997, Moyer broke ground without any financing on the Fox Tower project; two years in, with $90 million of his own money already committed, he had no more than a fifth of the future space rented. Development competitors expected him to fold, but Moyer had a card left to play: his life story. Inviting The Oregonian’s R. Gregory Nokes into his Vancouver, Wash., home, Moyer laid out a drama worthy of Alger, about his rise from hard-scrabble Depression baby beginnings in Sellwood, his abandonment of school to pursue an amateur boxing career that put him in the ring with legendary Sugar Ray Robinson, through the growth of his theater conglomerate that led to a falling out with his siblings but eventually earned him $192 million upon sale in 1989, and finally, tossing out some anecdotes of the stinginess and forgetfulness that friends and family said defined him.
Nokes was even offered a view from the top of the skeletal concrete elevator shaft Hoffman had put in first at the Fox Tower, and here was the trade-off: Moyer, whom Sturgeon describes as “excruciatingly private,” was willing to expose himself in exchange for some free publicity. “He felt he had to,” says Sturgeon.
The outreach effort, combined with an aggressive sales pitch from Moyer’s team of high-powered brokers, worked. In late 1999, timber magnate Louisiana Pacific committed to leaving the choicest office address in Portland — the top two floors at U.S. Bancorp Tower — for the Fox Tower. That led to a construction loan from Bank of America, and by the time the building was finished it was over 90% leased. Moyer moved into his own apartment on the upper floors of Fox Tower, the new “it” spot in town.
A mini-charm offensive from Sturgeon last spring, however, couldn’t rescue TMT’s $50 million investment already sunk into Park Avenue West. The Portland Development Commission was weighing a move from its Old Town offices into Park Avenue West that — with commitments from Stoel Rives to half the office space and Nike to a retail store — would have secured a construction loan from Pacific Life to finish the tower. Sturgeon and Co. hired a public affairs consultant to navigate the PDC’s public bid process and Sturgeon sat for an interview with the Portland Business Journal.
But that restart fell through when PDC officials couldn’t justify paying an estimated $10-a-square-foot premium to move commission offices to Park Avenue West. It was a prime example of the persistence of low rents around the city that have been a drag on new office projects.
That brings us to TMT’s latest predicament: It’s without a loan and without Stoel Rives, which renewed its lease at the Standard Insurance Tower last August. The company needs to show its face again.
Friday, July 10, 2015
BY GREGG MORRIS
Rita Hansen aims to scale natural gas vehicle innovation.
Monday, July 13, 2015
BY CAMILLE GRIGSBY-ROCCA
Can the brave new world of neurotechnology help an OHSU surgeon find a cure for obesity?
Friday, July 17, 2015
Photographer Jason Kaplan takes a look at Murray's Pharmacy in Heppner. The family owned business is run by John and Ann Murray, who were featured in our July/August cover story: 10 Innovators in Rural Health Care.
Wednesday, July 15, 2015
Oregon's roads are crumbling, and revenues from state and local gas taxes are not sufficient to pay for improvements. We asked readers if the private sector should help fund transportation maintenance and repairs. Research partner CFM Strategic Communications conducted the poll of 366 readers in February.
"I feel private enterprises are capable of operating at a higher efficiency than state government."
"This has been used in Oregon since the mid-1800s. It is not a new financing method. This form of financing may help Oregon close its infrastructure deficit by leveraging funds."
Wednesday, July 01, 2015
There are more than 10 million former military members working in the United States.
Monday, July 13, 2015
BY JACOB PALMER
Holding a Power Lunch at Veritable Quandary in downtown Portland.
Monday, July 13, 2015
BY KIM MOORE
Revenues in Oregon's private, for profit sector maintained solid growth as the economy continued to rebound.
|10 Innovators in Rural Health|
|The Private 150: From Strength to Strength|
|Flattery with Numbers|
|Preserving the Legacy|
|Downtime with Debra Ringold|
|Farm in a Box|
|Boeing chairman threatens to relocate|
|Economy's growth disappoints analysts|
|Portland fireworks hotline overloaded by call volume|
|Rolling Stone magazine sued by UVA frat brothers|
|'Kayaktivists' hang from St. Johns Bridge to protest Shell Oil ship|
|Legal pot sales to start Oct. 1 in Oregon|
|Best Buy will sell Apple Watch, is hoping it boosts sales|
One of the many reasons why businesses fail is due to the lack of attention to analytics. Sure, you can go on running your business, but mastering the science of analytics will translate into a business advantage. But what exactly are analytics and why are they so important?
Court experience helps legal firm anticipate potential problems for clients and prevent expensive litigation.
When Garmin AT needed to consolidate operations for its 550 employees, it scanned its entire corporate map for possible sites.
Professional and Continuing Education (PACE) and the College of Business at Oregon State University is offering “Business Analytics for Competitive Advantage”, a two-day intensive workshop.
34 spots for food, 17 places to sip, and 7 sites to choose a brew beckon visitors.
A look back at the shifting sands of Portland’s growth and development.