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|Articles - January 2010|
|Thursday, December 17, 2009|
Follow-up: May 2009 feature, "Big hairy deal"
Gorilla Capital, a Eugene-based buyer and seller of foreclosed homes, has expanded into Arizona, Idaho, southwest Washington and Florida as part of a broad strategy to become the dominant national player in distressed residential real estate.
“We wanted to prove that our business model works on a national level and we’re proving it,” says CEO John Helmick.
The national spike in foreclosures that has disrupted lives and devastated the economy represents a huge opportunity for Gorilla. The company grew from 10 employees to 25 in 2009, with the three most recent hires moving into Clark County, Wash., to capitalize on the glut of homes selling for fractions of their assessed values.
The fact that Helmick and Gorilla have sidestepped metropolitan Portland bodes well for the Portland residential real estate market. Gorilla has made its fortune by buying at fire sale prices and selling for 20% less than the competition. Prices have held up too well in Portland for the Gorilla formula to work, Helmick says. But it’s a very different story in Phoenix, Ariz.; suburban Boise, Idaho; and Daytona Beach, Fla., where Gorilla is offering a three-bedroom two blocks from the ocean for $59,900.
Helmick’s brother, Rob, who co-founded ecollege.com with him in the 1990s, is running Gorilla’s new office in Florida, the state with the second-most foreclosures, behind only California.
With millions of distressed properties weighing down home prices from coast to coast, the timing seems ideal for Gorilla’s plan to expand aggressively. Helmick says there is local competition in each of the markets Gorilla operates in, but no one else is replicating a consistent formula in multiple locations.
He intends to be first in that race. “Before there was a Wendy’s and a Burger King there was a McDonald’s,” he says.
Thursday, July 03, 2014
BY TED AUSTIN & MIKE BAELE | GUEST CONTRIBUTORS
The Office of Economic Analysis announced that Oregon is currently enjoying the strongest job growth since 2006. While this resurgence has been welcome, the lingering effects of the 2008 “Great Recession” continues to affect Oregon businesses, especially with regard to estate planning and business succession.
Wednesday, August 27, 2014
Tom Cox interviews Pete Friedes, author of "The 2R Manager," about becoming a Best Boss.
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.
Tuesday, August 26, 2014
BY DEBRA RINGOLD | OP-ED CONTRIBUTOR
Why has six years become an acceptable investment in public undergraduate education that over-promises and underperforms?
Thursday, August 28, 2014
OB Research Editor Kim Moore shares some pointers about the 100 Best Companies to Work For survey.
Wednesday, August 20, 2014
By Kim Moore | OB Editor
The 2015 survey launched this week. It is open to for-profit private and public companies that have at least 15 full- or part-time employees in Oregon.
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.”
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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.
Lane Powell Shareholder William T. Patton has been appointed to the board of directors for Cascade AIDS Project, an organization that provides educational services and outreach to thousands of Oregonians living with HIV/AIDS.
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.