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|Articles - September 2010|
|Friday, August 20, 2010|
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STORY BY JENNIFER MARGULIS // PHOTOS BY ANTHONY PIDGEON
Mark Wada has been working long hours. Wada is a partner in Farleigh Wada Witt, a Portland-based law firm with three named partners, 24 attorneys, and 57 total employees. Over the past six months he and his partners have been so busy they’ve hired three new lawyers: one specializing in financial law and two litigators.
Wada represents the banking industry, advising bankers on corporate lending and other commercial projects. He’s also the point person when things go wrong and banks find themselves with debtors unable to pay back loans.
When the sun starts to set and Wada is still at the office — which has been happening a lot lately — he turns on piano music by Jim Brickman to keep himself going.
“I like all kinds of music except rap and grunge,” says the 57-year-old Wada.
This season Wada’s been listening to a lot of music. While other Oregon firms have frozen hiring new lawyers and are seeing their client base dwindle, firms such as Farleigh Wada Witt that specialize in bankruptcy and finance report robust practices and more work than they can stay on top of. “Some of the bigger firms have basically frozen hiring,” says Ward Greene, 63, who has been practicing law in Oregon for 37 years and is a past president of the Multnomah Bar Association.
“It’s a very difficult job market for new lawyers in Oregon certainly, and across the United States. But lawyers who handle business transactions, bankruptcy, and litigation — like we do at our firm — are staying very, very busy.”
Individual bankruptcy lawyers are also in high demand. According to Kateri Walsh, spokesperson for the Oregon State Bar, between July 2009 and March 2010, more than 1,200 people called the Oregon State Bar referral service looking for attorneys who specialize in bankruptcy law, a 50% increase in call volume over the same period two years ago. With double-digit unemployment rates holding steady for the past six months, Oregon has seen almost no job growth, and economists and business people use words like “flat” and “stuck” to describe the current state of Oregon’s economy.
Wada traces the current financial difficulties that Oregon and the rest of the nation are experiencing back to the liquidity crunch as well as to the ongoing drop in real estate values and personal property collateral. The failure of the Seattle-based bank Washington Mutual in September 2008 was a huge blow to the banking industry in the Pacific Northwest as well, making some of Wada’s bank clients even more nervous.
“After that, people couldn’t get credit, they couldn’t refinance their way out of problems, and the banks have been getting more problem loans and becoming more conservative in how they deal with problem loans,” Wada says. “Revenues at companies are down. All of these things coming together at the same time has made it very difficult here in Oregon.”
Monday, September 28, 2015
BY JOE CORTRIGHT
Corporate headquarters are no longer a marker of economic prowess.
Wednesday, September 16, 2015
BY GREGG LEWIS | OP-ED
The issue of green-washing remains a significant challenge to those of us who would like to see the building sector in this country do more than make unverifiable claims of sustainability. Transparency about the impacts of a given material is the only way to allow designers to make intelligent choices when selecting building products.
Wednesday, August 19, 2015
BY KIM MOORE
A conversation with Chris Maples, president of the Oregon Institute of Technology.
Wednesday, August 26, 2015
BY LINDA BAKER
A new co-working model disrupts office sharing, child care and work-life balance as we know it.
Wednesday, August 19, 2015
BY LINDA WESTON
In 1996, after a 17-year career in the destination marketing industry, where I gained national standing as the CEO of the Convention & Visitors Association of Lane County, I was recruited by the founders of a new professional basketball league for women. The American Basketball League (ABL) hoped to leverage the success of the 1996 USA women’s national team at the Atlanta Olympics — much like USA Soccer is now leveraging the U.S. Women’s National Team’s victory in the World Cup. The ABL wanted a team in Portland, and they wanted me to be its general manager.
Wednesday, August 19, 2015
BY JACOB PALMER
Live, Work, Play wit the CEO of Ruby Receptionists.
Thursday, August 06, 2015
Car and ride sharing services have taken urban areas by storm. Low-income and suburban communities are left at the curb.
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Promoting from within its own ranks, PacificSource Health Plans has tapped Tony Kopki to head its commercial lines of business in Oregon, Idaho and Montana. In his new role as Vice President of Commercial Programs, Kopki will provide strategic, product and market leadership for PacificSource’s commercial programs.
Thomson brings 25 years of healthcare experience in provider relations, sales, marketing and communications.