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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.”
Thursday, May 28, 2015
BY LINDA BAKER | EDITOR
Reinventing capitalism. Office dumpster divers. Handprints versus carbon footprints.
Friday, May 22, 2015
BY ANNIE ELLISON
Portland tech veteran Ben Berry is leaving his post as Portland’s chief technology officer for a full-time role producing unmanned aerial vehicles (UAVs) aimed at first responders and the military. Berry’s AirShip Technologies Group is poised to be on the ground floor of an industry that will supply drones to as many as 100,000 police, fire and emergency agencies nationwide. He reveals the plan for takeoff.
Friday, May 22, 2015
BY JACOB PALMER
A Power Lunch at Oswego Grill.
Friday, May 22, 2015
BY KIM MOORE
As momentum grows at the state level to introduce far-reaching environmental regulations, such as carbon pricing and the Clean Fuels Program, Oregon employers continue to go the extra mile to create green workplaces for their employees.
Friday, May 22, 2015
BY LINDA BAKER | PHOTOS BY JASON E. KAPLAN
As the recession recedes and tourism grows, Central Oregon resorts redefine themselves for a new generation.
Wednesday, May 27, 2015
PHOTOS BY JASON E. KAPLAN
Like all good journalists, OB editorial staff typically eschew freebies. But health care costs being what they are, digital news editor Jacob Palmer couldn't resist ZoomCare's offer of a three-in-one (cleaning, exam, whitening) dental office visit, guaranteed to take no more than 57 minutes.
Thursday, May 14, 2015
BY JASON E. KAPLAN | STAFF PHOTOGRAPHER
There are more than 160 farmers markets in Oregon, contributing an estimated $50 million in sales, according to the Oregon Farmers Markets Association. We checked in on the Forest Grove market, which for several years has brought local produce and food vendors to Main Street in the center of town.
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Tonkon Torp helps seed sustainability at Gunderson.
Oregon-based Environments helps companies create inspired workspaces. “Simply put, we help companies future-proof their workspaces,” says Chris Corrado, president. Since 1988,Environments has witnessed firsthand the changing landscape of business. Native Portlander and Environments founder Corrado says, “We help our clients navigate the complex realities of the workplace today and plan for their future in a very mindful, strategic way. We think of ourselves as their partners in the process.”
One hundred years ago, the Willamette River might easily have been mistaken for a sewer. Unchecked industrial activity and decades of pollution made it unrecognizable compared to the clean river that now flows north for 187 miles from Eugene through the center of Portland.
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Event in Forest Grove marks recognition of Global Food Safety Initiative Certification.
Colette Young to lead staff at Southwest Portland branch.