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|Articles - Jan/Feb 2012|
|Thursday, January 19, 2012|
Page 1 of 5
By Linda Baker
The Tazo move “was unfortunate,” says founder Steve Smith, who has since launched another tea enterprise, Steven Smith Teamaker, this one operating out of Northwest Portland. Battles over consolidating the Portland and Washington operations have gone on for years, Smith says. “When Tazo Portland turned into a manufacturing plant only, the soul started to slip away.”
Not all Oregon companies that have been acquired move out of state or are absorbed by the parent company. And the reasons businesses sell run the gamut: an intentional exit strategy, bankruptcy, succession challenges in family-owned businesses and more recently, a dismal IPO market. But if the spate of fall buyouts is noteworthy, it’s because it underscores Oregon’s primary role in the merger and acquisition marketplace as a kind of shopping center for large, out-of-state firms. “We’re an incubator,” says Smith. “There are lots of creative people here thinking about things in a unique way and creating small businesses that then have tremendous potential within a larger business at some point.”
There’s no shame in serving as the nation’s innovation mill. On the contrary, innovation has brought the state national and international acclaim. But as job and wage growth strategies in Oregon take center stage — and as other regions expand on our success — our place in the acquisition food chain, and the reasons for that placement, merit a closer look. Consider that in 2011, Oregon companies acquired or partially purchased 49 out-of-state companies in deals valued at about $1.7 billion, according to New York-based Dealogic. That figure doesn't include the value of deals with undisclosed terms. A single acquisition, Precision Castparts’ $900 million purchase of Bellevue-based Primus, accounted for more than half of the amount invested.
By contrast, there were 82 Oregon targeted acquisitions or partial purchases by out-of-state companies or private equity firms and investors in 2011 — a deal landscape valued at about $2.7 billion (not including undisclosed terms). Those acquisitions added to a string of buyouts or majority stake sales of Oregon companies, a list that includes Harry & David, U.S. Bank, Tektronix, Willamette Industries, YoCream, Hanna Andersson, Fred Meyer, Lucy Activewear and Stumptown Coffee.
“Oregon is building businesses that people want to buy,” says Carolyn Vogt, a Lane Powell attorney. “[But] why are we the target rather than the buyer?”
Wednesday, August 19, 2015
BY GINA BINOLE
Screening for “culture fit” has become an essential part of the hiring process. But do like-minded employees actually build strong companies — or merely breed consensus culture?
Monday, July 13, 2015
BY KIM MOORE
Revenues in Oregon's private, for profit sector maintained solid growth as the economy continued to rebound.
Monday, July 06, 2015
Picking a business partner is not much different than choosing a spouse or life partner, and the business break-up can be as heart-wrenching and costly as divorce.
Monday, July 13, 2015
BY JACOB PALMER
Holding a Power Lunch at Veritable Quandary in downtown Portland.
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.
Friday, July 10, 2015
BY JOE CORTRIGHT
The false promise of economic impact statements.
Wednesday, July 15, 2015
Former Governor John Kitzhaber's resignation in February prompted some soul searching in this state about ethical behavior in industry and government.
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Transforming the culture of Oregon’s educational leadership.
The Board dismissed a petition related to efforts to unionize the Northwestern University football team.
Every once in a while we receive a letter in the (fictional) mailbag that is tough to describe and quite compelling. This week, Isabel, the new HR manager at LabCo (and someone who is new to HR), wants to know whether she may fire the owner’s son for having an Oregon medical marijuana card. In passing, Isabel also makes a number of alarming admissions about her motivation. Here is Isabel’s nerve-racking question and our response to it.
Oregon Sick Leave is here, and changes to the federal white-collar worker regulations are on the way. This workshop will prepare you for both. We invite you to participate in an interactive discussion on how to start planning now for the future impact on your operations and finances.
Presented by OEN + CENTRL + YESpdx.
This Roundtable will cover numerous issues under the employer "shared responsibility" rules of the Affordable Care Act, including how to track the "full-time" status of variable-hour employees, temporary or seasonal employees, and employees who experience a change in status or a break in service. Additionally, we will provide a brief overview of Code sections 6055 and 6056, which require most mid-sized and large employers to submit their first information reports to the IRS in early 2016 regarding the health insurance coverage being offered to employees. We invite you to participate in an interactive discussion on how to prepare for the future impact of the shared responsibility rules on your operations and finances.