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|Archives - July 2009|
|Wednesday, June 24, 2009|
What does Vladimir Putin have to do with the company formerly known as Oregon Steel’s decision to idle its steel mill in Portland this summer? Follow the timeline to find out.
1926: Gilmore Steel incorporated in California.
1987: Renamed Oregon Steel Mill.
1988: Goes public.
1993: Buys steel mill in Colorado.
Late 1990s: Peaks at over 2,700 employees.
2004: Swings to a $117 million profit, tops $1 billion in sales, earns shareholders 11% return on investment.
2005: Tops Columbia Sportswear and Tektronix to become Oregon’s sixth-largest public company by revenue.
January 2007: Bought for $2.3 billion by Russian conglomerate Evraz, controlled by billionaire oligarch Roman Abramovich.
March 2008: Abramovich, who also owns a fleet of planes, yachts and limos as well as a British soccer team, is listed by Forbes as the world’s 15th-richest person, worth $24.3 billion.
Jan.-July 2008: Evraz sales rise 78% to $10.7 billion; profits soar 82% to $2 billion.
Sept. 2008: Steel prices collapse.
Sept. 30, 2008: Evraz debt hits $10.2 billion.
October: Bloomberg estimates Abramovich lost $20 billion in five months.
November 2008: Russia’s state bank, controlled by Vladimir Putin, lends Evraz over $2 billion in bailout funds to pay taxes and refinance debt.
Jan 2009: New Evraz CEO Alexander Frolov takes responsibility for day-to-day operations in North America as well as Russia and announces plans to seek synergies.
April 2009: Evraz announces 225 layoffs in Portland, adding to 130 lost jobs in 2008.
May 2009: Metal Bulletin, a trade journal, reports Evraz plans to idle its Portland mill for at least two weeks this summer.
May 2009: Abramovich’s spokesmen deny rumors that the billionaire lost a yacht in a poker game in Barcelona.
June 2009: Moody’s considers downgrading Evraz’s credit rating for the second time in six months, endangering cash flow..
Thursday, May 29, 2014
BY SOPHIA BENNETT
Tillamook expands its tourism niche.
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, July 14, 2014
BY TERRY "STARBUCKER" ST. MARIE
I really didn’t know that much about angel investing, but I did know a lot about the entrepreneurial spirit.
Thursday, May 29, 2014
BY KIM MOORE
Transportation accounts for the second-largest source of greenhouse gases in the U.S. (28% in 2012), and the use of renewable fuels, such as biodiesel and ethanol, is booming in light of state and national programs to make transportation fuels cleaner.
Thursday, June 19, 2014
BY MONICA ENAND | GUEST CONTRIBUTOR
Nine tips for building habits among employees to respond when needed.
Tuesday, June 03, 2014
Citing the transition to catch shares management as a key to rebuilding stocks and reducing bycatch, 13 species caught by the West Coast trawl fishery today earned designation from the Marine Stewardship Council (MSC) as sustainable.
Friday, May 30, 2014
BY DEBRA RINGOLD | OB GUEST CONTRIBUTOR
Since 1970 the performance of our public education system has steadily deteriorated.
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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.
Geffen Mesher is saddened to announce the passing of long-time shareholder, Tom “Mike” Anderson, who died on July 10, 2014, from liver disease diagnosed after recent heart surgery. He was 55 years old.
Fifteen Lane Powell attorneys have been named 2014 “Oregon Super Lawyers,” and another five attorneys have been named as “Oregon Rising Stars” by Super Lawyers magazine.
From its first-ever member forum, to upcoming Board elections, the Oregon-based, non-profit health organization is focused on letting members control their healthcare destiny.