A7
B USINESS
THE BULLETIN • FRIDAY, MARCH 12, 2021
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Raymond James Fi-
nancial Services, Inc. has
agreed to pay $123,279
in restitution for the vic-
tims of excessive trading
practices by its Bend rep-
resentative, Gary Dodds.
The Oregon Division of
Financial Regulation has
also issued Raymond
James civil penalties in
the amount of $220,000.
Dodds was a regis-
tered representative and
financial adviser with
Raymond James in Bend
from 2011 to 2019.
Dodds is alleged
to have conducted in
“churning,” a method of
excessive trading to re-
ceive additional commis-
sions on several of his cli-
ents’ accounts from 2016
to 2018, according to a
release from the Oregon
Department of Consumer
& Business Services.
An investigation re-
vealed Dodds made
unsuitable recommen-
dations and sales of se-
curities for his clients
and failed to maintain
proper documentation
of his trading activities.
It also concluded that
Raymond James Finan-
cial Services was aware
of Dodds’ actions, but did
not take adequate correc-
tive steps. As part of the
order, Dodds agreed to
not apply for any financial
services license or regis-
tration in Oregon for five
years.
Molson Coors hit
by cyberattack
Molson Coors Bever-
age Co. said Thursday it
has been hit by a cyber-
attack that disrupted its
brewing operations and
shipments.
In a regulatory filing,
the Chicago-based com-
pany said it has hired
forensic information tech-
nology experts and legal
counsel to help it investi-
gate the incident.
“The company is work-
ing around the clock to
get its systems back up as
quickly as possible,” Mol-
son Coors said in its filing.
Molson Coors wouldn’t
say how many facilities
were impacted. The com-
pany operates seven
breweries and packaging
plants in the U.S., three in
Canada and 10 in Europe.
In addition to its name-
sake brews, its brands
include Miller Lite, Pilsner
Urquell and Blue Moon.
U.S. mortgage
rates rise again
U.S. long-term mort-
gage rates again rose
modestly this week
against the backdrop of
an improving economy
and further distribution
of coronavirus vaccines.
Rates remain near historic
lows, however.
The benchmark 30-
year loan stayed above
the 3% mark, a level it
breached last week for
the first time since July
2020.
Mortgage buyer Fred-
die Mac reported Thurs-
day that the average rate
on the 30-year fixed-rate
home loan rose to 3.05%
from 3.02% last week. By
contrast, the benchmark
rate stood at 3.36% a year
ago.
The average rate on
15-year fixed-rate loans,
popular among those
seeking to refinance their
mortgages, increased to
2.38% from 2.34% last
week.
— Buletin staff
and wire reports
30-YR T-BOND
2.28% +.04
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CRUDE OIL
$66.02 +1.58
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GOLD
$1,722.30 +.80
SILVER
$26.16 +.06
COVID-19 | Federal relief package
BRIEFING
Former financial
adviser fined
p
p
EURO
$1.1982 +.0060
OREGON BUSINESS
States begin drawing up big wish lists Vacasa
BY GEOFF MULVIHILL
Associated Press
State governments will
get a big influx of federal
money from the $1.9 trillion
COVID-19 relief package that
could suddenly enable them
to undertake large, expensive
projects that have long been
on their to-do lists, including
high-speed internet for rural
areas and drinking water im-
provements.
The aid plan, approved by
Congress in close party-line
votes and signed by President
Joe Biden on Thursday, in-
cludes $195 billion for states,
plus separate funds for local
governments and schools.
While the package contains
considerable short-term fi-
nancial relief for businesses
and individuals who have suf-
fered from the outbreak, its
Democratic supporters also
see it as a rich opportunity
to help states attack poverty
more broadly and accomplish
the kind of big things govern-
ment used to do.
Since most state budgets are
not in the tailspins that many
feared last spring, states can
use their share of the money
to go way beyond balancing
the books and dealing with
the direct costs of the corona-
virus pandemic.
“There are no words to de-
scribe the impact that has on
a state that has long had ex-
treme and persistent poverty,”
said New Mexico Gov. Mi-
chelle Lujan Grisham, a Dem-
ocrat. “This is exactly the in-
vestment that we have always
deserved and that we need
now more than ever.”
Even Republican governors
who have argued against the
plan are drawing up ambitious
plans similar to what’s on the
wish lists of Democratic law-
makers and governors.
In Democrat-controlled
California, GOP-held Idaho,
and Vermont, with a Republi-
can governor and Democratic
legislative majority, priorities
include drinking water and
rural broadband projects.
In New Mexico, officials ex-
pect to use $600 million to pay
off debts to the state’s unem-
ployment fund — a move that
would prevent a spike in pay-
roll taxes for businesses — and
still have more than $1 billion
for projects such as economic
development grants, road im-
provements and others still to
be determined.
While the behemoth CARES
Act adopted last March in-
cluded $150 billion for state, lo-
cal and tribal governments, that
help was restricted mostly to
direct pandemic-related costs.
The new package gives states
much more flexibility.
Republican governors are
arguing that the economy is
already in recovery and that
all the spending will eventu-
ally need to be repaid by the
taxpayers.
See COVID-19 / A8
Wag-riculture
BY SIERRA DAWN MCCLAIN
Capital Press
GRAND RONDE — “Away!”
At the command, Marc, a
3-year-old border collie, bounded
left, driving a flock of Polypay
sheep across the hill’s ridgeline.
Water droplets dappled pastures
and low-hanging clouds formed a
garland around the trees. The morn-
ing air smelled earthy.
“Down. Good boy.”
The voice belonged to Piper Klinger,
Marc’s owner, who runs this sheep ranch
with her husband, Bob Klinger.
Bob, 77, has worked with sheep
more than 50 years and made his
name as Oregon State University’s
sheep herdsman for decades before
retiring to full-time ranching.
Publicly, the Klingers are known for
high-quality Polypay sheep, innovative
pasture management and “agrivolta-
ics,” meaning grazing sheep under solar
panels . Privately, they say one of the most
significant features of their farm is their
dog, Marc.
One common thread many farmers
share is their love for dogs. The farm
dog, some say, is the “unsung hero,”
“part of the family” and one of the
most important parts of rural life.
In December and January, the Capital
Press solicited stories from readers about
their dogs. Some rescued animals or pro-
tected crops; others have simply brought
joy to their owners’ lives. These are a few
of their stories.
Marc
“Been doing sheep for some 50 years.
Never thought I’d have a dog this good,”
Bob Klinger told the Capital Press.
An old friend gave Marc to the
Klingers last summer, when the dog was
2 .5 years old.
The Klingers say Marc is the ideal
working dog. Piper said he learned the
commands to herd sheep “in no time
at all.” Bob said Marc “works the sheep
in the chute like a pro” for sorting and
vaccinating. When the Klingers need to
pass through a section of electric fenc-
ing, Marc keeps the sheep from escaping
through the gap.
He intuitively knows which critters are
friends and which are foes, they say; he
hunts down mice and voles, but he lets
the farm’s chickens climb on his head,
and he recently befriended an otter in the
creek.
Plenty of border collies are good work-
ing dogs, said Piper. What makes Marc
unique, she said, is that although he en-
joys herding, he’s not obsessed with it. In-
stead, he’s gentle, affectionate and sticks
close to Piper’s side.
Piper smiled, scratching Marc’s head,
as she described their first day together.
“When he hadn’t even been here an
hour, he walked over to me, put his foot
on my leg and looked at me like, ‘Here I
am, I’m yours.’”
Sally
Pete Paradis scooped his 3-year-old
grandson, Elias, off his lap and slid out
of his truck. As the two approached
the mouth of an alleyway that sloped
Athena
Mike Guebert and his wife,
Linda Bangs, co-own Terra Farma,
a small farm producing pas-
ture-raised meat, eggs and milk in
Corbett. They run a community
supported agriculture program.
Ironically, Guebert and Bangs,
who now run a meat operation,
were once urban-dwelling vegetar-
ians before they were exposed to hu-
mane livestock production methods.
The couple’s Great Pyrenees, Athena,
guards their pasture-raised dairy cows,
goats, pigs, poultry and waterfowl.
The couple recall that one night,
Athena woke them up with persistent
barking. Guebert said he threw on
his boots and ran outside. There, he
found two injured coyotes near the
turkey pens, pieces of coyote skin and
fur scattered about and Athena “sit-
ting as if she’d been there the whole
time.” Athena even showed her owners
a portion of the fence that needed repair.
“She’s an amazing protector, and she’s
also just the sweetest dog,” said Bangs.
Bangs squatted down, running her
fingers through Athena’s white fur. They
were on a green hill inside a multispecies
grazing paddock where dairy cows and
meat goats munched together.
The couple were so pleased with Ath-
ena that they wanted to pass on her ge-
netics, so they bought a male dog, Zuri,
and across about six months, Athena
had two litters, 20 puppies total.
“She’s an amazing mom,” said Guebert.
Marc
Sally
Athena
Lily
Submitted photos/
Capital Press
through the vineyard, three white
Maremma sheepdogs sauntered toward
them.
Paradis said the smartest of the three
— though a bit people-shy — is Sally.
“She’s not the nice little dog that comes
up on your lap. This is about as far from
that as you can be,” said Paradis. “She’s
more like a farm animal, a domesticated
wolf, if you will.”
Sally is a working dog, and she does
her job well.
Her main role is to protect the Sil-
verton farm’s 100 or so Boer meat goats
against predators. Alone, she faces off
coyotes. Alongside the other two dogs,
Paradis said she can make cougars think
twice.
Paradis said Sally’s intelligence startles
him.
At dusk, she leads the goats to the barn
or underneath trees. When it’s her din-
nertime, she takes turns with the other
two dogs, making sure one is always on
watch duty.
Although her first duty is to her goats,
Sally has also protected the vineyard. Par-
adis recalls one night, a storm-downed
tree ripped open a fence. The goat herd
could have entered the vineyard block
and destroyed it, but Sally guarded the
hole until her master arrived in the
morning.
“Sally sat on the inside of the fence,
looking at me like, ‘It’s about time you got
here,’” Paradis said.
Lily
Robin Loznak’s family lives on a 570-
acre property with cattle, Douglas firs
and hazelnut trees in Oakland. On a
ridge overlooking the Umpqua River sits
a farmhouse.
Founded in 1868 by Martha Poindex-
ter Maupin, this is both a state-designated
Century Farm and a Sesquicentennial
Farm, owned and operated by members
of the same family for 150 years.
This is also where Lily, a mixed-breed
rescue with some border collie in her, lives.
Loznak used to work as a veterinary
assistant at Umpqua Low-Cost Veteri-
nary Services in Roseburg, so he had a re-
lationship with Umpqua Valley Humane
Society. Staff there knew he was looking
for a dog, and one day, he got a call.
They had a rescue, they said, that
had been raised in the city but was too
high-energy for town.
“She was exactly right for us,” said
Loznak.
It turns out, Loznak’s family was exactly
right for Lily, too. She loves watching the
cattle, keeping down the rodent popula-
tion, swimming in the river and riding
shotgun alongside Loznak in his Kubota
UTV out to the hazelnut orchards.
Loznak said what strikes him is that
although farmers on his land have raised
a wide range of crops and livestock, one
semi-constant fixture has been the farm
dog. Most generations of his family had
dogs, he said. He even has an old pho-
tograph, taken around the 1870s, that
shows the original family on the farm-
house porch. At their side is a dog.
“There’s just something special about
farm dogs,” said Loznak.
to buy
rival in
Texas
BY MIKE ROGOWAY
The Oregonian
Portland vacation rental gi-
ant Vacasa said Thursday that
it has acquired a big rival in
Texas, expanding the number
of properties it manages by
one-fourth.
Vacasa didn’t say how much
it paid for TurnKey Vacation
Rentals, but described it as
a cash-and-stock deal. Aus-
tin-based TurnKey had re-
ported more than $100 million
in prior investment. So the deal
figures to be somewhat larger
than that.
Both Vacasa and TurnKey
contract with vacation home-
owners around the country to
list their rental properties on-
line, and to clean and maintain
them between guests. Vacasa
manages about 24,000 prop-
erties — TurnKey will add an-
other 6,000 vacation rentals.
TurnKey employs 475, so
Vacasa’s workforce will grow to
around 6,000 employees. Most
of those employees are in vaca-
tion destination communities,
but Vacasa employs at least a
few hundred in Portland.
Despite early jitters, the va-
cation-rental market appears
to have held up well during the
pandemic. And Vacasa contin-
ues to grow.
See Vacasa / A8
Hack shows
weakness in
workplace
security
cameras
BY MATT O’BRIEN
AND FRANK BAJAK
The Associated Press
Hackers aiming to call atten-
tion to the dangers of mass sur-
veillance say they were able to
peer into hospitals, schools, fac-
tories, jails and corporate offices
after they broke into the systems
of a security-camera startup.
That California startup, Verk-
ada, said Wednesday it is inves-
tigating the scope of the breach,
first reported by Bloomberg
News, and has notified law en-
forcement and its customers.
Swiss hacker Tillie Kott-
mann, a member of the group
that calls itself APT-69420 Ar-
son Cats, described it in an on-
line chat with The Associated
Press as a small collective of
“primarily queer hackers, not
backed by any nations or cap-
ital but instead backed by the
desire for fun, being gay and a
better world.”
They were able to gain ac-
cess to a Verkada “super” ad-
ministrator account using valid
credentials found online, Kott-
mann said. Verkada said in a
statement that it has since dis-
abled all internal administrator
accounts to prevent any unau-
thorized access.
But for two days, the hackers
said, they were able to peer un-
hindered into live feeds from
potentially tens of thousands
of cameras, including many
that were watching sensitive
locations such as hospitals and
schools.
See Hack / A8