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|Articles - April 2011|
|Tuesday, March 22, 2011|
Page 1 of 8
BY BEN JACKLET
Wilson Chen looks out the window of Suite 820 of the Portland skyscraper his company owns and smiles. “This was the first big deal that we had in the U.S.,” he says. “It was an unforgettable event for us. We put a lot of money into this building. We are taking good care of it.”
As if on cue, a window washer belays down to spray liquid onto the glass and wipe it clean, and Chen laughs for the first time of the interview.
Chen came to Oregon from China with $3,000 to his name 17 years ago. Then he was a poor graduate student. Today he is the president of the company that owns Portland’s iconic KOIN Center, along with five hotels in San Francisco and a huge soybean oil factory and a five-star oceanside resort in his hometown of Shantou in Guangdong Province.
Chen’s buying spree as president and CEO of Portland-based American Pacific International Capital was made possible by the recession. But it is not over now that the recession has passed, because the money he represents — direct foreign investment from Asia and especially China — is growing exponentially. The soft-spoken former hydrologist plans to buy more buildings this summer as another wave of troubled properties washes back to the banks. He is also positioning himself to make prosperous use of a once obscure but now red-hot government program that enables foreigners to earn “green cards,” signifying lawful permanent residency, by investing directly in new or troubled U.S. companies and creating American jobs.
The federal EB-5 program, as it is known, already has funneled hundreds of millions of dollars from Chinese investors into Vermont ski resorts, Hollywood hotels and Seattle real estate. Soon it could be financing woody biomass projects in struggling Oregon timber towns, adult-care facilities on the Oregon Coast, massive urban redevelopment projects in Portland and even the long-stalled Columbia River Crossing bridge project.
During the period in which Chen went from being a broke grad student in Corvallis analyzing watershed run-off to a well connected financier snapping up hotels and factories, China evolved from a nation of potential to one of destiny: the world’s second-largest economy, the U.S. government’s largest creditor and Oregon’s top trading partner. As China’s powerful economic growth continues, Chinese investors with newfound wealth are moving into the U.S. economy at a rate not seen since Japan’s golden era in the 1980s.
“We’ve got an opportunity now,” says Tim McCabe, director of Business Oregon, the state’s economic development arm. “There are a lot of investors in China, and a lot of money… We’re seeing a lot more activity, and this is just getting started.”
Saturday, December 13, 2014
Checking in with the managing director of Arnerich Massena.
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.
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.
Friday, October 31, 2014
BY LINDA BAKER | OB EDITOR
Why are there so few transportation startups in Portland? The city’s leadership in bike, transit and pedestrian transportation has been well-documented. But that was then — when government and nonprofits paved the way for a new, less auto centric way of life.
Thursday, December 11, 2014
There’s a fascinating article in the December issue of the Harvard Business Review about a profound power shift taking place in business and society. It’s a long read, but the gist revolves around the tension between “old power” and “new power” as a driver of transformation. Here’s an excerpt:
The authors, Henry Timms and Jeremy Heimans, don’t necessarily favor one form of power over another but merely outline how power is transitioning, and how companies can take advantage of these changes to strengthen their positions in the marketplace.
Our Powerbook issue might be viewed as a case study in the new-power transition. This annual book of lists provides information on leading businesses, nonprofits and universities in the state. Most of the featured companies are entrenched power players now pursuing more flexible and less hierarchical approaches to doing business. Law firms, for example, are adopting new technologies and fee structures to make legal services more accessible and affordable.
This month we also take a look at a controversial new U.S. Securities and Exchange Commission rule requiring public companies to disclose the median pay of workers, as well as the ratio between CEO and median-worker pay.
Part of the 2010 Dodd-Frank financial reform law, the rule will compel public companies to be more open about employee compensation, with the assumption that greater transparency will improve corporate performance and, perhaps, help address one of the major challenges of our time: income inequality.
New power is not only about strategy and tactics, the Harvard Business Review authors say. “The ultimate questions are ethical. The big question is whether new power can genuinely serve the common good and confront society’s most intractable problems.”
That sounds like a call to arms. Or a New Year’s resolution. Old power or new, the goals are the same: to be a force for positive change in the world. Happy 2015!
Thursday, December 11, 2014
BY JESSICA RIDGWAY
Lawger upends the typical hourly based fee model by letting clients determine the cost.
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.
|A Complex Portrait: Immigration, Jobs and the Economy|
|Woman of Steel|
|Kill the Meeting|
|Debate surrounding Washington-Oregon I5 span heats up|
|Watchdog group takes issue with timber company's 'green' label|
|Labor dispute at the ports slowing Christmas deliveries|
|Fed stresses 'patience' regarding interest rate|
|Obama to announce end of Cuba isolation|
|Energy prices drop cost of living in US by most since 2008|
|Russia's attempt to slow ruble freefall fails|
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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.