Home Must Reads Port of Astoria in financial trouble

Port of Astoria in financial trouble

| Print |  Email
Must Reads
Friday, July 27, 2012

A recent audit on the Port of Astoria shows major financial troubles, compounded by a slowdown in log exports.

The port's operations have been losing more than $1 million per year.

Those losses have been covered largely by nonoperational revenue such as property tax proceeds, grants, loans and interest income. As a result of its paying off a general obligation bond, the port saw a reduction in property tax revenue this year.

Lawsuit expenses also mounted — more than $500,000 in the past four years, according to Colleen Browne, port finance manager. They included battles with the Bank of Astoria over offices and with the developer of a proposed natural gas terminal. They now include litigation against the port’s former attorney, Heather Reynolds, who now works for Clatsop County.

Read more at The Statesman Journal.

{biztweet}port astoria{/biztweet}

 

More Articles

A Recipe for Success

October 2014
Thursday, September 25, 2014
BY LINDA BAKER

Two businesswomen, two iconic food brands and one food-obsessed city. We thought this sounded like a recipe for good conversation. So in late August, Oregon Business sat down with Wendy Collie, CEO of New Seasons Market, and Kim Malek, owner of Salt & Straw, to discuss their rapidly expanding businesses and Oregon’s trendsetting food scene.


Read more...

Two sides of the coin

Contributed Blogs
Monday, August 25, 2014
0825 thumb moneyBY JASON NORRIS | OB GUEST BLOGGER

Ferguson Wellman’s investment views on the economy and capital markets.


Read more...

Podcast: Interview with Pete Friedes

Contributed Blogs
Wednesday, August 27, 2014

082714-thumb friedesbookTom Cox interviews Pete Friedes, author of "The 2R Manager," about becoming a Best Boss.


Read more...

Downtime

October 2014
Thursday, September 25, 2014
BY JESSICA RIDGWAY

I'm not very interesting,” says a modest Ray Di Carlo, CEO and executive producer of Bent Image Labs, an animation and visual effects studio.


Read more...

October surprise

News
Sunday, October 12, 2014
roundup-logo-thumb-14BY LINDA BAKER

Cylvia Hayes, tabloid vs. watchdog journalism and the looming threat of a Cascadia earthquake.


Read more...

Startup or Grow Up?

September 2014
Tuesday, August 26, 2014
BY JON BELL

Startup culture is all the rage. Is there a downside?


Read more...

Buyer's Remorse

September 2014
Tuesday, August 26, 2014

Parents and students paying for college today are like homeowners who bought a house just before the housing bubble burst.


Read more...
Oregon Business magazinetitle-sponsored-links-02
SPONSORED LINKS