When you think of what’s on the minds of most high school students these days, managing finances is probably not as high up on the list as the new car they’re dreaming of or the dress they’re buying for prom. But maybe it ought to be, since only 59% of young adults pay their bills on time, while most parents aren’t teaching their kids about saving and investing for retirement.
Which is what brought me to a business class at Gladstone High School yesterday. I was invited there by Bryan Sims, the 26-year-old CEO of brass|MEDIA Inc., a Corvallis-based media company focused on promoting financial literacy and formed by Sims when he was just 19. Yesterday was the kick-off for brass’ “Money Side of Life Tour,” launched in time for financial literacy month with Gladstone as its first stop. The tour is part of the brass|STUDENT PROGRAM – Oregon, an initiative to get free personal-finance resources (like the company’s flagship magazine) to teachers and students around the state.
The five-school tour has First Tech Credit Union as a presenting sponsor, and financial education officer Ryan McKernan was among the speakers at the Gladstone presentation. McKernan said it’s a good time to be promoting the topic among high school students, with district budgets cutting out financial-education classes as required credits. “And being a member-owned co-op, like all credit unions are, our strength is in our members,” McKernan said. “So as strong as they are, our balance sheet will reflect that as well.”
Bill Bradbury and John Kitzhaber are Oregon leaders who know the state bureaucracy inside and out. Yet they are both running for governor on a platform of transformative change and fresh ideas. What are their ideas on the subject of restoring Oregon’s sickly economy to health?
Bradbury and Kitzhaber made their strongest pitches to the business community Tuesday afternoon at a forum sponsored by the Oregon Business Association, the Oregon Entrepreneurs Network, the Portland Business Alliance and the Software Association of Oregon. Both men spoke with the poise and confidence you would expect from savvy veterans seeking to win key votes, and to their credit they did offer some compelling original ideas. Whether these ideas can become tangible programs producing practical results is a different matter.
Bradbury, who served with the state Legislature for 14 years before becoming Secretary of State and is chairman of the Oregon Sustainability Board, wants to create a new bank to get some money flowing through the state economy. He’s calling it the Bank of Oregon, and from his description it sounds like, well, a state-run bank. “We all pay a lot of taxes in this state, and fees, that go into the State Treasury,” he told the crowd Tuesday. “You can create a bank out of that and partner with community banks to fund small businesses and entrepreneurs.”
Genentech had an amazing research run through the early 2000s, with three new medications approved by the FDA from 2003-2005. Between the need to increase capacity and the earthquake risk at company headquarters in South San Francisco, top execs decided it was time to look for a suitable place for expansion.
They chose Oregon, where they have invested $400 million and created 250 jobs since buying 75 acres of land in Hillsboro in 2006.
Social networking can take place on everything from YouTube to the iPhone. The amount of time consumers spent on it tripled in 2009; 56% of Americans want companies to be involved with it; and 85% of social media users are expecting companies to interact with them using it. In short, you need social networks.
“You have to have an investment,” said Eric Peterson of Web Analytics Demystified. “If you don’t get on the social train, you’ll fall behind.”
Portland’s Multnomah Athletic Club recently hosted “Social Networks & the Enterprise Unite: Integration 2.0,” a tech innovation conference held by the Oregon chapter of TechAmerica. Representatives from local tech giants like Intel, Jive Software and Tripwire were on hand to share why social networks have played such a large role in their recent successes, and how other companies can implement the same practices to meet the ever-growing demand for instant communication and transparency, within the company and with customers.
I don’t do this often. And by this I mean interject myself into the editorial realm of magazine publishing. I know some publishers do, but my style is to hire editors I trust and let them do their thing so I can do my thing, which is to run the business.
I read Oregon Business managing editor’s Ben Jacklet’s blog post last week about the “phantom exodus” of Oregon companies after the vote on tax Measures 66 and 67 as a business strategist, not as the magazine's publisher. And I responded as many of those who have commented did — with anger.
But after some deep breaths, re-reads of the column and a conversation with Ben, I realized the disconnect.
It started out amicably enough. Between making jokes about their passion for steak and the absence of fellow candidate Chris Dudley, three gubernatorial hopefuls – Allen Alley, Bill Bradbury and John Kitzhaber – participated this week in a peaceful debate about environmental issues. But when Bradbury brought up the implications of a major campaign contribution Kitzhaber had accepted from an “egregious polluter,” Kitzhaber’s angry response quickly changed the mood.
The debate was held in front of several hundred people at Portland State University and hosted by Environment Oregon, the Oregon Environmental Council, the Oregon League of Conservation Voters and the Sierra Club’s Oregon chapter. Alley, Bradbury and Kitzhaber – or as another attendee nicknamed them to me, “the engineer,” “the college professor” and “the cowboy” – were invited to share their views on the state’s environmental issues and take stances on some of the more controversial topics. And while the Democratic candidates tended to be more or less in agreement about the importance of increasing green energy use and sustainable timber harvesting, Alley made it clear from the beginning that he had a different approach to tackling environmental issues. “I look at it from an economic perspective,” Alley said. “We’ve made trade-offs over the last 25 years between the environment and the economy. I have to focus on getting the economy going.”
Questions on transportation came up several times, with a good amount of time devoted to the merits of mass transit and alternative-energy vehicles. Transportation was brought up again when a panelist asked whether or not the candidates support the divisive, 12-lane Columbia River Crossing plan. Bradbury was adamantly opposed, which incited approving applause from the crowd. While acknowledging the huge transportation issues Oregon faces, particularly for moving freight across the Columbia River, Bradbury said he would support instead a seismic upgrade on the current bridge, the creation of a new smaller bridge for bikes and foot traffic, and the implementation of tolls to control congestion. “I think that is a very sensible future and won’t cost so much and spend all the transportation dollars that we have in this state,” Bradbury said. Kitzhaber said the project should go forward without delay, but that he doesn’t support the current plan, while Alley said he though the bridge should be bigger – before telling the visibly shocked crowd that we was joking.
Clearly I hit a nerve. Responses to last week’s Jobs Watch column on the alleged-but-not-yet-proven exodus of Oregon businesses from Oregon set new standards for vitriol. Some readers went so far as to suggest that the job I should watch out for is my own. Sorry, guys. Even the most hard-nosed CEOs don’t get to fire other people’s employees.
Well if can dish it out I’d better be able to take it. So swing away and take your best shot. I am here to be pummeled. The point of a free press is to encourage an open and honest discussion of the important issues of the day, and clearly to our readers this is a very important issue. So let’s discuss it openly and honestly.
However, I have to point out that for all of the great and not-so-great responses last week’s column elicited, I still am lacking the name of a single job-creating investor or executive who is in fact leaving Oregon because of Measures 66 and 67.
I’ve never bought a single lottery ticket in my life. Not even a single scratch-off. But if women who live in Lake Oswego (I am, I do) keep winning the $1 million raffle, I might have to rethink my investment strategy.
The latest winner could have been me. Sandy Hendricks last week was the second woman from Lake Oswego in three years to win the million-dollar Oregon Lottery Raffle. Hendricks, who won the St. Patrick’s Day Raffle, told reporters she is in her early 50s (I am) and has Irish grandparents (I do). "You know, I've never played a raffle before," Hendricks told the Oregonian (ditto). "I bought a ticket because I like leprechauns, I guess."
Well, I don’t like leprechauns (frankly, they creep me out). I don’t believe in luck, or at least I don’t believe that I’m lucky, so I’ve never seen the purpose in buying games of chance.
The Sellwood Bridge is deteriorating as questions arise over whether Multnomah County or Clackamas County is responsible for its replacement. The approval of funding for the Newberg-Dundee bypass is being criticized as a political maneuver. And the fate of the Columbia River Crossing remains unknown while the debate over its size, impact and whether it should even be built keeps its progress in limbo. In other words, the Portland area’s regional transportation governance is a big, gridlocked mess.
The City Club of Portland recently released a report titled “Moving Forward: A Better Way to Govern Regional Transportation.” Several members of the research committee – Leigh Stephenson-Kuhn, Peter Livingston and Richard Ross – presented the report this week as part of the “Crossing the Columbia: What Does It Mean?” forum held by PDXplore and the Architecture Foundation of Oregon. In front of a small crowd at the Pacific Northwest College of Art, the three representatives discussed the conclusions and recommendations the City Club had come up with to solve the tricky problem of moving people at the lowest cost and in the most effective way possible.
What’s tangling up transportation progress so much? The report found several problems with the current regional governance, such as the Oregon Department of Transportation’s control of most of the region’s transportation money (which gives the power to choose and fund projects primarily to state officials). A large chunk of the problem, the report says, also lies in the fragmentation of governance, with federal, state and local government and agencies all having an influence on transportation projects in the area. With so many jurisdictions with a stake in transportation, the result is a lack of clarity on which entity should be responsible for which parts of the system. Many decisions are made on a micro level, Livingston says, when transportation is really a regional issue.