ON AIR NOW

First Light

2:00am - 3:00am

Contact
Business News


There were more signs that the "return to normal" for the global economy may take longer than hoped for in a couple of major layoff announcements. Walt Disney Co. made one of the deepest workforce reductions of the Covid-19 era after it announced yesterday it was firing 28,000 workers. Oil major Royal Dutch Shell also said it will cut as many as 9,000 jobs as it struggles with low demand and tries to restructure.  Despite those headline numbers – the ADP Payroll report is out -- Private companies added 749,000 jobs in September vs. the 600,000 Dow Jones estimate. (Bloomberg)

 

Big data firm Palantir and corporate software company Asana are the latest businesses to challenge the traditional IPO process by debuting on the New York Stock Exchange today in the form of a direct listing. Depending on how successful they are, more companies could choose to go public this way going forward, especially if they are allowed to raise new money as part of the process. Going public via direct listing tends to be a quicker route and involves less scrutiny, while super trendy SPAC mergers are also gaining prominence. The NYSE has set a reference point of $7.25/share for Palantir and $21/share for Asana, though the figure only acts as a placeholder in lieu of a formal IPO price. (SA)

 

Bend-based Les Schwab Tire Centers – which calls itself "the nation’s highest-ranked, most customer-focused tire retailer" – has reached an agreement to sell the company to investment firm Meritage Group, Les Schwab Chief Executive Officer Jack Cuniff said Tuesday.  While terms were not disclosed, when one of the most iconic Central Oregon-born companies and the region's third-largest private employer put itself up for sale late last year, analysts said a deal could fetch up to $3 billion. Meritages’ founder, Nat Simons, is the son of Jim Simons, the founder of Renaissance Technologies, the most successful hedge fund of all time.  (KTVZ)

 

With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Josh Fenili.
 

Hide Comments

News
Traffic

 

 

  • SB Lane of 15th St. CLOSED >< Reed Market Road and Ferguson Road (8/4 – 11/30)
  • Butler Mkt Rd CLOSED >< 27th and Weeping Willow Dr RAB (8/11 – 9/30)
  • Single Lane Closures/Flaggers/Pilot Car at Old Bend-Redmond Hwy/Tumalo Rd Intersection 7am – 6pm (8/9 – tfn) RAB Construction

 

KBND ON FACEBOOK
 
FOLLOW US ON TWITTER