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|Articles - March 2013|
|Monday, February 25, 2013|
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Another visionary concept of Bramscher’s finally came to fruition late last year. Polaris Industries out of Medina, Minn., a company known globally for its snowmobiles, ATVs and motorcycles, made a big move into the electric-vehicle arena in 2012, acquiring both North Dakota’s Global Electric Motorcars (GEM) and France’s Goupil Industrie SA. In October, Polaris and Brammo consummated a four-year courtship when Polaris acquired a minority stake for $28 million.
Bramscher’s looking for more, but the Polaris deal “helped dramatically.” Besides the capital, the deal cleared the way for Brammo to offer financing for dealer inventory, known as “flooring,” courtesy of GE Capital. Further, consumer lender Sheffield Financial has agreed to terms with Brammo to finance retail purchasers, Bramscher says. “Most [financing] companies want to see you have a couple hundred million in revenue before they’ll start financing.”
Beyond the numbers, the Polaris investment allowed Brammo to remain an Oregon-based asset. Bramscher says seven other states were actively recruiting him to relocate. One state’s package of incentives totaled $41 million. He admits, “There are days when I think I could just stop fundraising and take the money and go.”
Now that Brammo’s purchase of the 100,000-square-foot former Walmart facility in Talent is nearly completed, and with the announcement of plans to establish an R&D office in Portland, Bramscher says he’s here to stay. “That’s the plan,” he offers with a wry smile, thinking no doubt of how “the plan” has changed in the past three years.
As soon as the deed is recorded for the Talent property, Bramscher will establish a manufacturing facility to “cover all R&D for headquarters, assembly of batteries for North America and assembly of motorcycles for North America.” The R&D office in Portland will bring together a number of freelancers currently working out of their homes in the Portland area. Brammo also has designers and engineers working in Boston, Los Angeles and San Francisco.
Bramscher’s ever-evolving plan means big doses of globe-trotting. Currently, Brammo has more dealerships in Europe than in the U.S. thanks to growing demand for the commuter-oriented Enertia R, which is being built in Hungary in partnership with global manufacturer Flextronics. Bramscher also is working on deals in Singapore and Hong Kong while eyeing expansion into Japan, South Korea and maybe Malaysia, among other possibilities, including Mexico. Wherever he goes, Bramscher carries the Oregon business brand proudly. He’s urging the governor and legislators to color that brand in brighter shades of green. “We’ve got this amazing opportunity,” he says. “It’s good to be green. It’s something that fits the state so well.”
Thursday, July 09, 2015
The sweltering weather didn't keep the crowds away. Although the numbers were down slightly from last year, the Oregon Food Bank raised $850,636 to fight hunger. About 80,000 people attended despite temperatures in the upper 90s.
Friday, July 10, 2015
BY JOE CORTRIGHT
The false promise of economic impact statements.
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 15, 2015
We asked readers to weigh in on the fossil fuel-green energy equation.
Friday, July 10, 2015
BY DAN COOK
The Affordable Care Act has triggered a rush on health care plan redesign, a process fraught with hidden costs and consequences.
Wednesday, June 17, 2015
Monday, June 22, 2015
The Clean Fuels/gas tax trade off will go down in history as another disjointed, on-again off-again approach to city and state lawmaking.
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Robert S. Wiggins has joined Lane Powell as a Shareholder in the Corporate/M&A Practice Group. Wiggins is a well-known lawyer, entrepreneur, and investor with more than 30 years of experience leading and advising established and emerging companies in the Pacific Northwest. Wiggins will focus his practice on offering outside general counsel services, including general corporate and board representation, business transactions and capital events.
DEDICATION PARTY: Help the Port of The Dalles celebrate its newest shovel-ready industrial land Friday, July 31, from 1:30 to 4 p.m.