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|Articles - March 2011|
|Wednesday, March 02, 2011|
Erickson filed for a $75 million IPO in May 2010. But its revenues have been shrinking rather than growing in recent years, from $142 million in 2007 to $137 million in 2008, to $114 million in 2009. The company provides services and maintenance for heavy-lift helicopters used for logging, construction and firefighting. It has subsidiaries in Italy, Canada and Malaysia and seasonal contracts in Australia and Greece. It also manufactures helicopters in Oregon, but not many of them — selling just nine since 2002 and none in 2010.
Between falling revenues and heavy borrowing, Erickson had $88 million in debts as of Sept. 30, 2010. “We anticipate that we will not be in compliance with certain financial debt covenants,” the company wrote in a Dec. 27 SEC filing.
So landing an agreement to export five helicopters to China was a huge deal. Erickson entered into a non-binding agreement in December with China Taicang Aircrane, a subsidiary of Wan Yu Industries Groups. The White House mentioned the deal in a Jan. 19 document stressing the economic importance of exports to China. Erickson officials could not comment because of the mandatory “quiet period” that accompanies IPOs, to avoid inflating the stock price with hype.
If the deal goes through, it will bring new life to Erickson’s Central Point operation, where most of the company’s 700 employees work. (The company moved its headquarters from Southern Oregon to Portland prior to filing for an IPO.) But future manufacturing may take place in China instead of Oregon. One element of the deal outlined in SEC documents calls for “cooperation with and support of Taicang in developing the capabilities and facilities required for the manufacture, marketing and support of the Aircrane in China.”
Erickson is one of two Oregon-based companies wading through the complex process of going public since filing last May. The other is the Portland-based IT security and compliance business Tripwire. In contrast to Erickson’s falling fortunes in recent years, Tripwire has been growing revenues by more than 20% per year and has over 5,600 customers in 89 countries. Tripwire is also restricted from commenting during its quiet period.
Tuesday, July 08, 2014
BY LINDA BAKER | OB EDITOR
The New Yorker recently published a sharply worded critique of “disruptive innovation,” one of the most widely cited theories in the business world today. The article raises questions about the descriptive value of disruption and innovation — whether the terms are mere buzzwords or actually explain today's extraordinarily complex and fast changing business environment.
Update: We caught up with Portland's Thomas Thurston, who shared his data driven take on the disruption controversy.
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?
Thursday, June 26, 2014
Friday, June 27, 2014
BY JASON NORRIS | OB BLOGGER
Over the last several months we have seen a wave of cross-border acquisitions, primarily U.S.-based companies looking to purchase non-U.S.-based companies. There are a few reasons for this, but the main culprit is the U.S. corporate tax system. The United States has one of the highest corporate tax rates in the world.
Thursday, June 12, 2014
BY ANDREA DURBIN | OB GUEST BLOGGER
Last week, the Obama administration took an important and welcomed step in the effort to protect the health and well-being of all Oregonians by limiting carbon pollution from existing power plants.
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.
Thursday, June 05, 2014
BY HANNAH WALLACE | OB BLOGGER
What does it take to launch and run one of these mobile food businesses?
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|Dollar Tree to buy Family Dollar|
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|GM profit declines 80%|
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 Susan K. Eggum has been elected as vice chair of programs and projects for the International Association of Defense Counsel’s (IADC’s) Employment Law Committee.
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.