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|Monday, July 27, 2009|
For the second month in a row, we are scrambling to revise a story about a great local business that has been harder hit than expected by the continuing recession.
Last month it was Pendleton Woolen Mills, a 100-year old Oregon icon that surprised us by announcing that 45 employees would be laid off as we were preparing to put our August issue to bed. This month it’s a local bank to be named later that has been dealing with hard-nosed FDIC regulators scouring through every record, email and report they could unearth. My conversations with the CEO went from fascinating to ominous over the course of the past several weeks, and we agreed that running a story before the matter is clarified with a formal FDIC report would be unwise for the magazine as well as the bank.
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