HQ (others)

[Bigfoot424]

Personally I hope Portland is ruined. I know, not a nice thing to say but at this point I really do not care. The actions of the politicians there and their callousness towards law enforcement sickens me. What they have allowed to happen there just blows me away. We have family there and they are doing their best to find a way to leave. They said it is no longer a place a family wants to be.

[Deeman804]

Originally Posted by Jrc03

I read an article a few weeks back that Standard Insurance, Portland's largest employer, is moving out of downtown to the suburbs. They determined downtown was no longer safe for its employees during the day. Not sure if this is permanent or temporary. AirBnB and I believe Amazon and Microsoft have also pulled out of downtown. Very sad. Just a few months ago downtown Portland was bustling with a flagship Nordstrom, Apple Store, brand new MUJI department store, and a number of very high end shops. A Ritz Carlton was planned for a block near the downtown Nordstrom. The downtown was always packed with office workers, tourists, shoppers, etc. It was busy on the weekends as well. I really hope downtown Portland comes back, but it may be tough.

While Standard looks ready to leave its downtown HQ, I don't think Nike or Adidas plan to move. Portland is still synonymous with fitness and the outdoors, and they are also not located downtown.Would Standard move to Virginia? Who knows. I'm not sure about the market or region they serve. Nestle moved its North American HQ to Arlington from the West Coast a couple years ago. Amazon is letting its leases lapse in downtown Seattle, while expanding in suburban Bellevue. I wonder if it will further grow the Arlington HQ2?

I read an article that stated the Standard Insurance move was temporary and most employees were already working from home due to Covid. I think businesses think longer term than that. For instance, the biggest motivator for Amazon etc. seemed to tax burdens and ability to attract talent. Not so much the tax rate, but the special incentives offered by cities and localities. With Amazon, it was very unique that they were relatively transparent with their process. The defund the police movement is not impacting business movements right now as we have yet to see what legislation is enacted from the movement...of any.

[NC211]

Originally Posted by Bigfoot424

Personally I hope Portland is ruined. I know, not a nice thing to say but at this point I really do not care. The actions of the politicians there and their callousness towards law enforcement sickens me. What they have allowed to happen there just blows me away. We have family there and they are doing their best to find a way to leave. They said it is no longer a place a family wants to be.

100% agree. Reap what they sow. Minneapolis too, which just this past week grilled the police chief why crime has spiked dramatically while also slashing his budget by millions. Absolute idiots.

I’ve managed to live my 47 years without a gun. I’ve always believed that with the right tools and a dictionary that man can do anything. I’ve followed that approach my entire life, live in a gated community far from the violence, etc. On 9/11 I did something that I swore I would never do. I bought a gun for my home (CZ P10F). I came to the conclusion that I can insure against all acts of god, except the stupid of man. Makes me furious that this thing is hidden in my home now, but a necessary evil I guess. I’m not bagging on those with guns who are trained to use them (I am a LEO family), just never thought I’d need one to feel safe myself.

Those days are history now.

[NC211]

In terms of Standard Insurance- I know them well. Yes, they are taking advantage of this readjustment in working from home situation to reevaluate their arrangement, just as all office based employers are. But what unique to them versus all the others, is where they are. They’re done with CBD Portland, never to return to it, and that’s not COVID. It doesn’t matter once covid is past. Standard is wide open to be picked off by another state to centralize their workforce. And I strongly doubt they’d have much heartburn by the staff to relocate.