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Daily Mail
8 hours ago
- Business
- Daily Mail
Gorgeous city that once boomed is now construction desert after woke policies sent builders fleeing
A once sought-after city in Oregon is working to win back investor confidence after chaotic protests and so-called ' woke ' policies drove away developers. Portland was once a hotspot for housing investment, particularly after a construction boom in 2010, but has recently seen a dramatic decline. The city dropped to 80th out of 81 metro hubs in a recent Urban Land Institute report into construction levels, according to Oregon Live. At the end of 2024, the city had just over 1,600 housing units under construction - the lowest number recorded since 2011. The construction slowdown can be attributed in part to the 2020 protests in the heart of the city and the reputational damage that followed, with one economist describing Portland's lingering image as a 'dumpster fire,' according to Oregon Live. Governor Tina Kotek and Mayor Keith Wilson have agreed to meet with skeptical investors in an effort to address the city's rising cost of living and restore confidence in the housing market. 'We're going to have to stay on the development community,' Gov Kotek told the outlet. 'I want to make sure Portland is competitive,' she added. To rein in the cost of living in the coastal metro, more housing must be developed - but homebuilders rely heavily on outside investors to finance these projects. Wilson and Kotek share a goal of boosting housing by making construction easier - starting with a three-year waiver on certain building fees. The Portland City Council approved the fee waiver earlier this month, a move welcomed by developers, according to Oregon Live. The idea to waive the system development charges and fees related to housing construction came from a group called the Multifamily Housing Development Workgroup. But the recent report, watched by investors and industry insiders - has done little to restore confidence among business owners and developers about Portland's future. This week, the mayor and governor convened a taskforce made up of city councilors, state officials and housing policy experts - an idea also suggested by the Multifamily Housing Development Workgroup. Together, the group will brainstorm ways to reverse the city's severe apartment construction slump, though the details of upcoming meetings about Portland's business outlook are still undecided. Since the murder of George Floyd in 2020, Portland has been grappling with ongoing unrest that has deeply affected the city. On New Year's Eve 2020, another riot erupted as protesters smashed windows and threw firebombs at police officers, who later shared images of Molotov-style cocktails scattered on the streets. The Portland City Council approved a three year waiver on certain building fees earlier this month This week the governor (pictured) launched a taskforce made up of city councilors, state officials and housing policy experts to generate ideas to reverse the city's construction slump In May the west coast city was forced to slash the sale price of one of its biggest office buildings after it became overrun with homeless people. Portland, which is known for its liberal politics, has since seen its downtown suffer after a failed attempt at drug decriminalization. The city's office vacancy rate was 35 percent in the first three months of the year, the worst of the top 25 central business districts in the country, according to real estate firm Colliers. One of the most telling signs of its downtown decline is the sale of its US Bancorp Tower at a list price of 80 percent less than its previous valuation, as reported by The Wall Street Journal. Technology publisher Digital Trends filed a lease-termination lawsuit claiming its staff were unsafe as the building had been taken over by the homeless population of downtown Portland. The publisher claimed in its lawsuit that the building had 'vagrants sleeping in hallways of vacant office floors... starting fires in stairwells, smoking fentanyl and defecating in common areas.' The building had became a 'cesspool of criminal activity and vandalism,' they alleged. Earlier this month chaos erupted at an ICE detention facility center in the city after hundreds of protestors attempted to storm holding cells. Video footage captured demonstrators being tackled to the ground as officers deployed smoke bombs and tear gas to try and control the crowd.
Yahoo
18-07-2025
- Business
- Yahoo
Intel allegedly planning more Oregon layoffs — new report says retreating operation could become a liability to the state
When you buy through links on our articles, Future and its syndication partners may earn a commission. In the wake of recent layoffs, the Intel Oregon workforce is down to its lowest point in more than a decade, reports Oregon Live / The Oregonian. Worryingly, the newspaper's sources have indicated that this isn't the end for Intel's Oregon job cuts. Moreover, cuts as deep as this do not just affect Intel and its newly redundant staff; the Oregonian highlights the fact that the well-paid roles 'helped buoy the whole state,' thanks to tax receipts and other factors. Intel has a long and illustrious history in Oregon, but its inexorable growth now seems to have done more than just stall. This change in fortunes will be especially painful to the lives and plans of employees. Only a year ago, they would have been hearing and reading reports about a massive expansion in Oregon, with thousands more jobs. With cuts of 'at least 5,400 Oregon jobs since August,' according to the source, there are now 18,000 employees left in Oregon. Despite this massive cut in jobs, 'Oregon will continue to play a critical role in Intel's global operations, serving as the epicenter of our cutting-edge semiconductor research, technology development, and manufacturing,' Intel reportedly said in a statement on Monday. Lip-Bu Tan's "simple math" knows no mercy Back in April, we first heard reports of recently installed CEO Lip-Bu Tan getting ready to swing his axe to cull 20% of the workforce for cost and efficiency savings. Sadly for Intel employees, they'd already faced a reduction of approximately. 15,000 positions last August. In the new Oregonian report on job cuts, Tan is quoted as explaining his severe personnel pruning activity as 'simple math.' Talking to employees, he noted that the combined ranks of Nvidia and TSMC had only a slightly higher headcount than Intel alone. However, both those rivals are far more profitable. Impacts beyond Intel's campus The Oregonian notes that the state is 'heavily reliant on personal income taxes' to fund improved schools, public safety, and various other services available to state residents. Oregon actually modified the tax code to favor Intel's business, to retain and attract increased investment. That seems to have paid off, until now. With the swing in Intel's fortunes and employee tax receipts impacted, local officials are worried about Intel shifting from being an asset to a liability. However, these concerns may be unfounded. From the material shared in the report, 15,000 well-paid Intel employees still remain in the state. Moreover, there are hopes that many ex-employees will stay to boost economic prosperity in Oregon, perhaps investing in new projects and startups. Follow Tom's Hardware on Google News to get our up-to-date news, analysis, and reviews in your feeds. Make sure to click the Follow button.
Time of India
11-07-2025
- Business
- Time of India
Intel CEO Lip-Bu Tan warns employees: Customers are giving Intel failing grades, we are not in ...
Intel CaEO Lip-Bu Tan cheers during the Computex 2025 exhibition in Taipei, Taiwan. AP/PTI Intel's new CEO Lip-Bu Tan delivered a stark assessment of the company's position in the semiconductor industry , telling employees in a global video broadcast that Intel has fallen from its former dominance. "Twenty, 30 years ago, we are really the leader," Tan said during the session, according to OregonLive. "Now I think the world has changed. We are not in the top 10 semiconductor companies." The blunt remarks came as Intel began implementing massive layoffs worldwide, cutting 529 jobs in Oregon alone with thousands more expected globally. Tan's comments, reviewed by OregonLive, represent a rare glimpse into his strategic thinking since taking over from ousted CEO Pat Gelsinger in March. AI race already lost, says Intel CEO The CEO acknowledged Intel's struggles extend beyond traditional markets into the crucial artificial intelligence sector. "On training I think it is too late for us," Tan admitted, referring to Nvidia 's commanding position in AI chip development. He described Nvidia's market position as "too strong" to challenge directly. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like After 35 Years, Her Jewelry Is Nearly Gone The Heritage Journal Read More Undo Intel's market capitalization has plummeted to around $100 billion—roughly half its value from 18 months ago—while Nvidia recently became the first company to breach the $4 trillion threshold. An Intel spokesperson later clarified that Tan's "top 10" comment referred specifically to market value rather than technological capabilities. Intel's manufacturing push faces uncertain future Despite the challenges, Tan outlined Intel's path forward through its upcoming 18A manufacturing process and a shift toward edge AI applications. "Our number one priority is to make sure that our 18A is robust for our internal customer," he said, as reported by OregonLive. The CEO emphasized that Intel's turnaround would be a "marathon," requiring the company to become more agile like competitors AMD and Nvidia. "We have to be humble," Tan told employees, urging them to listen to customers and respond to their needs. Intel plans to focus on bringing AI capabilities directly to PCs and exploring agentic AI—systems that can operate independently without constant human direction. Tan hinted at additional executive hires, saying "Stay tuned. A few more people are coming on board."
Miami Herald
23-06-2025
- Miami Herald
FBI Offers $15,000 Reward for Information Over Man Killed at Birthday Party
The Federal Bureau of Investigation is offering a $15,000 reward for information on the person who killed a man at a birthday party. Geavauntae (Tae) Sherman, 22, was shot and killed at his sister's birthday party at Raymond City Park in Portland, Oregon, on June 20, 2022. Three years later, police are still looking for information that could lead to the arrest of the shooter. The FBI Portland office has been contacted via email outside of working hours for comment. There were dozens of witnesses to the shooting when it occurred, but none have come forward, per Oregon Live reporting. This renewed interest in the case from the FBI and large reward may inspire witnesses to talk to law enforcement. Sherman was at the park to celebrate his younger sister's birthday when he got into an argument with a group of people over playground equipment. Oregon Live reported at the time, citing police, that some children, including his two younger sisters, were having an argument over the swing sets. Then, a few adults from a separate park birthday party went over to the playground and got involved in the fight. Sherman went in to intervene, which is when someone pulled out a gun and shot Sherman three times right next to his 21-year-old sister, Dayshanay Sherman. She told the outlet that her brother's last words were "'Why are we yelling and cussing? We're all adults.'" Dayshanay Sherman described her brother as her "best friend," and "a very protective and goofy older brother." The case has seen renewed interest as part of the FBI's Case of the Week program, where an unsolved case that either occurred around the same time a few years ago or is of major public interest, is highlighted by the bureau. Although the FBI offered the same monetary reward in 2023, nobody came forward then. It is offering $15,000 again two years later in the hopes that witnesses speak up. Dayshanay Sherman told Oregon Live in 2022: "Everything is so quiet without Tae, because he always knew how to keep the conversation going. He was a good person... he was my best friend." Kieran L. Ramsey, special agent in charge of the FBI Portland field office told the press in 2023: "We know there were dozens of witnesses in the park that evening. We need those witnesses to come forward with any details they remember." Anyone with information about the case can contact the FBI Portland Field Office at (503) 224-4181, or can submit a tip online at Related Articles FBI Offers $20,000 Reward Over Arizona Woman's Mysterious DeathFBI Raises 'Alarming' Claims of Chinese Interference in 2020 ElectionPeter Stinson, Ex-Coast Guard Officer, Charged with Threating to Kill TrumpMAGA Warns of 'Jihadi Sleeper Cells' in US After Israel Strikes Iran 2025 NEWSWEEK DIGITAL LLC.
Newsweek
23-06-2025
- Newsweek
FBI Offers $15,000 Reward for Information Over Man Killed at Birthday Party
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. The Federal Bureau of Investigation is offering a $15,000 reward for information on the person who killed a man at a birthday party. Geavauntae (Tae) Sherman, 22, was shot and killed at his sister's birthday party at Raymond City Park in Portland, Oregon, on June 20, 2022. Three years later, police are still looking for information that could lead to the arrest of the shooter. The FBI Portland office has been contacted via email outside of working hours for comment. Geavauntae Sherman, 22, was killed at his sister's birthday party on June 20, 2022. Geavauntae Sherman, 22, was killed at his sister's birthday party on June 20, 2022. FBI Why It Matters There were dozens of witnesses to the shooting when it occurred, but none have come forward, per Oregon Live reporting. This renewed interest in the case from the FBI and large reward may inspire witnesses to talk to law enforcement. What To Know Sherman was at the park to celebrate his younger sister's birthday when he got into an argument with a group of people over playground equipment. Oregon Live reported at the time, citing police, that some children, including his two younger sisters, were having an argument over the swing sets. Then, a few adults from a separate park birthday party went over to the playground and got involved in the fight. Sherman went in to intervene, which is when someone pulled out a gun and shot Sherman three times right next to his 21-year-old sister, Dayshanay Sherman. She told the outlet that her brother's last words were "'Why are we yelling and cussing? We're all adults.'" Dayshanay Sherman described her brother as her "best friend," and "a very protective and goofy older brother." The case has seen renewed interest as part of the FBI's Case of the Week program, where an unsolved case that either occurred around the same time a few years ago or is of major public interest, is highlighted by the bureau. Although the FBI offered the same monetary reward in 2023, nobody came forward then. It is offering $15,000 again two years later in the hopes that witnesses speak up. What People Are Saying Dayshanay Sherman told Oregon Live in 2022: "Everything is so quiet without Tae, because he always knew how to keep the conversation going. He was a good person... he was my best friend." Kieran L. Ramsey, special agent in charge of the FBI Portland field office told the press in 2023: "We know there were dozens of witnesses in the park that evening. We need those witnesses to come forward with any details they remember." What Happens Next Anyone with information about the case can contact the FBI Portland Field Office at (503) 224-4181, or can submit a tip online at
