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RUSSIA FALLOUT HAMMERS EVRAZ STEEL: North Portland is a long way from Ukraine, but fallout from Russia’s siege of Kiev hammered the stock of Evraz Steel. Evraz was founded in Russia and is now headquartered in London. Its North Portland plant is the only steel sheet mill west of the Rockies. On Feb. 25, the company announced massive profits for 2021 and saw its shares soar on the London Stock Exchange. As the prospect of international sanctions set in, however, investors have fled, knocking the stock down 85% for the year, despite strong earnings. That’s painful for the Russian oligarch Roman Abramovich, who owns 29% of Evraz’s stock (along with the U.K. soccer team Chelsea FC). One of the goals of sanctions is to pressure investors such as Abramovich, who may have influence with Putin. In the meantime, Evraz’s U.S. operations said in a statement they expect business as usual.
GOP BASHES BETSY JOHNSON ON TOLLING: Former state Sen. Betsy Johnson, an unaffiliated candidate for governor, has emphatically opposed highway tolls on the campaign trail, telling WW last week in Dr. Seuss style: “I do not like tolling, I do not like it here or there.” But the trouble for any legislator running for office is the long record that follows them around. Former Rep. Christine Drazan, a Republican candidate for governor, pointed out last week on Twitter that Johnson voted for the transportation package that used tolling to fund the I-205 and Interstate Bridge projects. The Oregon Republican Party went further yesterday, noting Johnson sponsored a bill that would have allowed local governments to create tolls as a means of building more roads; didn’t sign onto a bill that would have prohibited tolling on I-205; and supported a bill that would allow the Oregon Department of Transportation to toll all of Interstates 5 and 205 in the metro area. “This is exactly the kind of flip-flopping and gaslighting you’d expect to see from a career politician like Betsy Johnson,” said Republican National Committeewoman Tracy Honl in a statement. “She can’t hide from her record. The truth is, Betsy sided with Kate Brown and Tina Kotek in support of tolling on at least four separate occasions.” Johnson responds: “The more I have learned about tolling and its implementation, the more I oppose it. If you like tolling, you probably should support Tina Kotek.…The party attack dogs are going to continue to try to use me as a chew toy, and I will continue to tell people the truth and try to move this state.”
SELF-SERVICE GAS POSTPONED AGAIN: Never bet against Oregon exceptionalism. A bill that would allow gas stations to offer self-service faces a hurdle that will be hard to jump in the short legislative session that ends March 7. House Bill 4151, which “authorizes self-service dispensing of Class 1 flammable liquids at retail dispensaries” in Oregon has been delayed because the Oregon Fire Marshal says the agency needs $543,376 in the state’s2021-23 budget to regulate consumer pumping. The request means the bill has a “fiscal impact” and must be sent to the Joint Committee on Ways and Means, a move that will delay work and likely doom the bill, says Gabriel Zirkle, president of the Oregon Fuels Association, which has been lobbying for it.”We didn’t see this coming,” Zirkle says. “Now we have to come up with a fee to answer the question of how do we pay for the fire marshal.” Oregon and New Jersey are the only states that don’t allow self-service fueling statewide.
JOINT OFFICE SEES TURNOVER: Marc Jolin, who has led the Multnomah County Joint Office of Homeless Services since its founding as A Home for Everyone in 2015, resigned March 1. Jolin has overseen a massive increase in funding for his agency, from virtually nothing to more than $160 million this year. He will stay on temporarily to help his interim replacement, Shannon Singleton, learn the ropes. Singleton, who has an extensive housing background, has been working as an aide to Gov. Kate Brown and was also running for Multnomah County chair. She will now drop out of that race to assume her new duties. “Shannon is the person who asks, ‘Where can I be best be of service at this time?’” County Chair Deborah Kafoury said in a statement. The county said it will conduct a nationwide search for Jolin’s permanent successor.