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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.
Wednesday, October 22, 2014
BY JASON NORRIS
Historically, when the leaves fall, so do the markets. This year, earnings, Europe, energy and Ebola have in common? Beyond alliteration, they are four factors that the investors are pointing to for this year’s seasonal volatility.
Thursday, December 11, 2014
By MEGHAN NOLT
VIDEO: Revamping a Classic — an iconic eatery stays relevant in a changing marketplace.
Wednesday, November 26, 2014
BY NISHANT BHAJARIA | OP-ED CONTRIBUTOR
By now, anyone who knows about it has a position on President Obama’s executive order on immigration. The executive order is the outcome of failed attempts at getting a bill through the normal legislative process. Both Obama and his predecessor came close, but not close enough since the process broke down multiple times.
Thursday, November 13, 2014
BY RYAN CARSON | OP-ED CONTRIBUTOR
How do we skill up our future technology workforce in a smart way to take advantage of these high-paying jobs? The answer shouldn’t focus only on helping people get a bachelor’s degree.
Thursday, November 20, 2014
BY JASON NORRIS | OB CONTRIBUTOR
Each month for Oregon Business, we assess factors that are shaping current capital market activity—and what they mean to investors. Here we take a look at two major developments regarding possible rollbacks of the Affordable Care Act (ACA).
Thursday, December 04, 2014
BY JACOB PALMER | OB DIGITAL NEWS EDITOR
Nothing says startup culture like a ping pong table in the office, lounge or lobby.
Tuesday, December 02, 2014
BY LINDA BAKER
A conversation with attorney Erich Merrill about the latest way to raise money from large groups of people.
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Amy will practice in the firm's Business, Real Estate, and Tax practice groups.
While the Bend City Council ultimately upheld the approval which enables OSU-Cascades to move forward with the 10 acre site, it did also thoughtfully consider the nature of its code requirements, resident concerns and OSU-Cascade’s efforts and suggestions and crafted conditions of approval to address potential impacts of the site in the area.