|| Print ||
|Articles - Jan/Feb 2012|
|Thursday, January 19, 2012|
Page 2 of 2
The latest twist has Becker buying into more technology stocks such as Microsoft and Intel. On paper, the companies are trading at more modest prices, compared to their earnings, and they’re winning favor among traditionalists by paying quarterly dividends. But Pat Becker Jr. says less exacting metrics have also made him bullish: He’s noticed, for instance, that analysts are warming to the idea that Intel can compete in the smartphone market.
“If you’re talking to people on a regular basis, you can see when opinions change,” he says.
Becker remains a curious mix of a company at once entrepreneurial and old-fashioned. Within its conservative investment philosophy, it encourages staff to take risks that produce big returns for the company. But character also counts; bonuses are a mix of performance and “nebulous” things like teamwork and amiability around the office.
The family atmosphere extends from the literal to the figurative. While Pat Sr. still clocks in at 6:15 every morning and advises, Pat Jr. helps lead the company (Janeen McAninch is the CEO), his brother, John, runs the IT department and brother-in-law Blake Howells manages portfolios. The rest of the staff has been loyal to a person: Becker hasn’t lost an investment staff member since it started in 1976, though they have had some support staff turnover.)
It could be the old-school benefits that keep them close: The company shares profits up to 20% of an employee’s earnings in good years, and 15 of the 28 staff members own shares in the company. It also pays for things such as a dental plan for dependents, and parking passes.
But Pat Jr. argues there’s a unique temperament he searches out in new hires, which matches Becker’s approach to the market. “The wiring is so important,” he says. In a recent talk put on by Becker in Portland, renowned Wall Street strategist Jason Trennert named the ethos succinctly, saying, “When I think of Becker, I think of the F-word: fiduciary.”
The corporate world is now bending the elder Becker’s way, says Pat Jr. He sees boards behaving ethically and making fiscally sound moves in paying dividends and buying back stock. Still, there’s more to be done to restrain Wall Street from blowing more bubbles and to insulate against risks like flash crashes driven by computer-managed trading. He acknowledges that after this decade, the Occupy Portland protesters that camped out just a block from his office late last year had legitimate grievances.
“They’re right about a lot of stuff,” he says.
Rare honesty from a wealth manager, but then Becker is a rare breed.
Thursday, July 31, 2014
BY MARY SPILDE | OB GUEST CONTRIBUTOR
Faced with the aftermath of the “great recession,” increasing concern about the environment and dwindling family wage jobs, we have some very important choices to make about our future.
Thursday, July 24, 2014
BY LINDA BAKER | OB EDITOR
Remember the naysayers? Those who called the South Waterfront aerial tram a boondoggle? Those who rejoiced at the massive sell off of luxury condos at the John Ross and Atwater Place?
Thursday, June 26, 2014
BY ERIC FRUTS | OB BLOGGER
Last year, the housing market in Oregon—and the U.S. as a whole—was blasting off. The Case-Shiller index of home prices ended the year 13% higher than at the beginning of the year. But, was last year a blip, or a trend?
Monday, August 18, 2014
Portland is in the middle of another construction boom, with residential and office projects springing up downtown, in the Pearl and Old Town. OB Web Editor Jessica Ridgway documents the new wave.
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.
Wednesday, August 13, 2014
BY TOM COX | OB BLOGGER
When I say, “Your Employee is Always Right,” I do not mean “right about the facts,” but rather “right about how they feel” and “right about how they want to be led.”
Tuesday, July 01, 2014
BY HANNAH WALLACE | OB BLOGGER
Demand for organic food continues to soar: Last year, sales of organic food rose to $32.3 billion — up 10% from 2012. In Oregon, organic produce wholesaler Organically Grown Co. has been championing organic growing methods for four decades.
|The Private 150: Bigger But Leaner|
|The Perfect Food|
|Powerlist: Staffing Firms|
|Taxis Uber Alles?|
|Bank of America agrees to $17B settlement|
|Family Dollar rejects bid from Dollar General|
|U.S. dollar hits nine-month high against euro|
|Demand for tablets declines|
|U.S. housing market improving|
|Hospital network hacked, 4.5M records stolen|
|Dollar General enters bid for Family Dollar|
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.
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.
Vanessa Sturgeon and Miller Nash LLP were selected as leaders in encouraging female advancement.