Morning Roundup: Fiber launch fizzles; Investors sue Aequitas

Google Fiber rejects Portland, while investors file suit against Aequitas Capital Management.


OREGON NEWS

— Portland will not welcome Google Fiber after all. Plans to launch the high-speed service had been delayed. The effort seemed to move forward in  June when the city approved plans for a fiber hut in Southwest Portland. Nevertheless, Google has reportedly decided to switch its strategy overall as cable has proved to be too expensive to install. Willamette Week has more.

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— The Grand Ronde Tribe says it would lose more than 40% of its revenue when the Cowlitz Tribe opens its casino in Washington. The Statesman Journal reports the tribe estimates losing more than $100 million annually from its $244 million annual revenue. The Grand Ronde Tribe has filed a motion with the U.S. Supreme Court to challenge the U.S. Circuit Court of Appeals decision allowing the casino to move forward.

— Investors have filed a $92 million lawsuit against the firm that worked for Aequitas Capital Management. The Lake Oswego investment firm collapsed the year amid a cash flow crisis. The suit defendants include Deloitte & Touche, EisnerAmper, Tonkon Torp, Sidley Austin, Duff & Phelps and TD Ameritrade. The group alleges the credibility claims made by Aequitas "induced investors to entrust their money to Aequitas." The Portland Business Journal has more.

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— Stumptown Coffee's newest blend will be recognizable to basketball fans and Portland residents alike. The coffee maker partnered with the Portland Trail Blazers to create a Rip City blend. Read more from the Oregonian.

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Dave's Killer Bread has been recognized by the White House as it joins the Fair Chance Business Pledge. The pledge asks employers to eliminate hiring barriers for employees with a criminal record. The White House featured Dave's on its Instagram, telling the story of Ronnie Elrod, now director of manufacturing.

— A Bend startup aims to protect consumers online privacy with its launch this week. Hueya will compile an exposure score, similar to a credit score, showing how well individuals protect themselves online. The software will also alert users to potential oversharing or threats online. The Bend Bulletin has more.

NATIONAL NEWS

Univision placed the winning bid at Gawker's bankruptcy auction last night for $135 million. Gawker filed bankruptcy after it lost an invasion of privacy lawsuit filed by Hulk Hogan. The future of Gawker, which manages seven sites including Jezebel, Deadpan and Gizmodo, is now in the hands of the web publisher and television network. Read more from Wired.

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— Google has released its own video chatting platform, Google Duo. Duo is only available to use on phones, both iPhone and Android. The Verge has more on how the program will work.

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