Resolute Forest Products reports net income of $31 million in third quarter, 2012:
Resolute Forest Products has reported net income of $31 million for the third quarter on sales of $1.2 billion. This compares with a net loss of $44 million on sales of $1.2 billion in the third quarter of 2011.
Excluding $24 million of special items described below, net income for the quarter was $7 million. “We’re pleased with these results, considering the specific challenges we faced in the quarter and the unexpected extent of the maintenance required to bring our recently acquired St. Felicien mill up to par,” said Richard Garneau, president and chief executive officer. ”Our cost-focused strategy allowed us to maintain attractive margins in the paper and wood products segments despite lower shipments overall. This is the direct result of our focus on the items we control: selling only profitable tons and maintaining world-class operational standards.”
Friday, November 2, 2012
IP Surprises With Market Advance
Despite Its Steady, If Unexpected Climb, Stock Of Global Paper And...:
One of the market's big surprises is International Paper, one of the unlikely stocks that have led in this year's unrelenting market advance. The stock of the leading global producer of printing paper and packaging products has been a robust gainer, ramping up to 52-week high of $38.20 a share on Oct. 16, 2012, way up from $22 in September. No wonder many investors now think this unlikely winner in the current market rally has just about reached its peak. But don’t make the mistake of falling for that gloomy prediction. Remember that many investors had pronounced as dead the paper industry in general and IP in particular, in the dawning of the new digital world. In 2009, at the height of the recession, the stock plunged to a low of $3.90 a share. To paraphrase Rodney Dangerfield, it got no respect, and investors spurned International Paper. But the stock’s performance since 2009, when the financial meltdown and recession hit, was solid proof that the naysayers were wrong.
And even when IP posted somewhat disappointing third-quarter results based on some analysts’ expectations, IP believers stayed bullish on the stock.
One of the market's big surprises is International Paper, one of the unlikely stocks that have led in this year's unrelenting market advance. The stock of the leading global producer of printing paper and packaging products has been a robust gainer, ramping up to 52-week high of $38.20 a share on Oct. 16, 2012, way up from $22 in September. No wonder many investors now think this unlikely winner in the current market rally has just about reached its peak. But don’t make the mistake of falling for that gloomy prediction. Remember that many investors had pronounced as dead the paper industry in general and IP in particular, in the dawning of the new digital world. In 2009, at the height of the recession, the stock plunged to a low of $3.90 a share. To paraphrase Rodney Dangerfield, it got no respect, and investors spurned International Paper. But the stock’s performance since 2009, when the financial meltdown and recession hit, was solid proof that the naysayers were wrong.
And even when IP posted somewhat disappointing third-quarter results based on some analysts’ expectations, IP believers stayed bullish on the stock.
Glatfelter Reports Q3 2012 Results
Glatfelter Reports Third Quarter 2012 Results:
Glatfelter today reported 2012 third quarter adjusted earnings of $19.4 million, or $0.44 per diluted share, compared with $12.8 million, or $0.28 per diluted share, in the 2011 third quarter.“Our third quarter results reflect solid performance from our Specialty Papers business which delivered top-line growth, again outperforming the broader uncoated freesheet market, and it significantly increased operating income,” said Dante C. Parrini, chairman and chief executive officer.
Glatfelter today reported 2012 third quarter adjusted earnings of $19.4 million, or $0.44 per diluted share, compared with $12.8 million, or $0.28 per diluted share, in the 2011 third quarter.“Our third quarter results reflect solid performance from our Specialty Papers business which delivered top-line growth, again outperforming the broader uncoated freesheet market, and it significantly increased operating income,” said Dante C. Parrini, chairman and chief executive officer.
Great Northern Celebrates Successful First Year
http://ht.ly/eLHZb
One of Maine’s greatest business success stories of 2012 was recently celebrated by business, political, and community leaders in “The Town That Paper Made.” In April 2011, hundreds of papermakers lost their jobs when Katahdin Paper Company’s East Millinocket mill closed, helping to push the region’s unemployment rate to nearly 22%. By September 2011, Cate Street Capital purchased the mill, along with its sister facility in Millinocket. Just one month later, Cate Street Capital reopened the East Millinocket mill under its most revered historical name – Great Northern Paper (GNP) – and 215 people were back to work. Fast forward to October 2012. GNP’s workforce stands at 257, and it continues to hire workers for its second paper machine.GNP officials and employees hosted a one-year anniversary celebration at the mill today. They were joined by state and local political figures, community and business leaders, retired and current employees, and their friends and families to commemorate the important milestone. Two restored, antique, brass plaques with the original names of each paper machine, “Katahdin” and “Penobscot,” were unveiled during the ceremony.
One of Maine’s greatest business success stories of 2012 was recently celebrated by business, political, and community leaders in “The Town That Paper Made.” In April 2011, hundreds of papermakers lost their jobs when Katahdin Paper Company’s East Millinocket mill closed, helping to push the region’s unemployment rate to nearly 22%. By September 2011, Cate Street Capital purchased the mill, along with its sister facility in Millinocket. Just one month later, Cate Street Capital reopened the East Millinocket mill under its most revered historical name – Great Northern Paper (GNP) – and 215 people were back to work. Fast forward to October 2012. GNP’s workforce stands at 257, and it continues to hire workers for its second paper machine.GNP officials and employees hosted a one-year anniversary celebration at the mill today. They were joined by state and local political figures, community and business leaders, retired and current employees, and their friends and families to commemorate the important milestone. Two restored, antique, brass plaques with the original names of each paper machine, “Katahdin” and “Penobscot,” were unveiled during the ceremony.
US Consumption Of RCP Down 8% In Sept
US industry consumption of recovered paper down 8 per cent in September 2012
The American Forest & Paper Association released its September 2012 U.S. Recovered Fiber Monthly Report which said total U.S. industry consumption of recovered paper in September was 2.36 million tons, 8 percent lower than August 2012. Year-to-date total consumption in 2012 is 4 percent lower than during the same period last year.U.S. exports of recovered paper, as reported by the U.S. Census Bureau, decreased 4 percent in August compared to July, led by a drop in Mixed Papers exports which fell after a very strong July. Year-to-date exports of recovered paper in 2012 are 6.5 percent lower than during the same period in 2011.
The American Forest & Paper Association released its September 2012 U.S. Recovered Fiber Monthly Report which said total U.S. industry consumption of recovered paper in September was 2.36 million tons, 8 percent lower than August 2012. Year-to-date total consumption in 2012 is 4 percent lower than during the same period last year.U.S. exports of recovered paper, as reported by the U.S. Census Bureau, decreased 4 percent in August compared to July, led by a drop in Mixed Papers exports which fell after a very strong July. Year-to-date exports of recovered paper in 2012 are 6.5 percent lower than during the same period in 2011.
Vertis Continued Momentum in Chapter 11 Case
Vertis Communications Announces Continued Momentum in Chapter 11 Case and Sale Process:
Vertis Holdings, Inc. today achieved the next key milestones in its Chapter 11 case and sale process by obtaining the Bankruptcy Court's approval of the procedures through which it will evaluate any competing offers for its businesses to ensure it receives the highest and best offer. The Court also issued final orders giving the Company access to $150 million in new financing obtained in conjunction with the filing as well as the authority to maintain its client programs, pay employees' wages and benefits and otherwise operate its business as usual. These motions had been approved on an interim basis on October 12, 2012.
Vertis Holdings, Inc. today achieved the next key milestones in its Chapter 11 case and sale process by obtaining the Bankruptcy Court's approval of the procedures through which it will evaluate any competing offers for its businesses to ensure it receives the highest and best offer. The Court also issued final orders giving the Company access to $150 million in new financing obtained in conjunction with the filing as well as the authority to maintain its client programs, pay employees' wages and benefits and otherwise operate its business as usual. These motions had been approved on an interim basis on October 12, 2012.
Transcontinental Closing Plant in Quebec
Transcontinental Closing Its Printing Plant in Quebec; Around 150 Jobs Lost:
Transcontinental Inc. is closing, on or about Dec. 20, 2012, its printing plant at 7743 Bourdeau St. in LaSalle, Quebec, leading to the loss of some 150 jobs. All employees affected by the termination of printing operations at this plant have been informed of the decision and will receive severance pay as well as out-placement services to help them find new jobs. “The printing industry is undergoing a major transformation that is altering supply and demand. Given the capacity and potential of our network, we have concluded that we have excess production capacity in relation to market demand. In order for Transcontinental inc. to remain competitive in this industry under pressure and get the most out of its most efficient equipment, we have had to make the difficult decision to terminate our printing operations at LaSalle,” said Marian Kerr, senior vice president, Retail and Newspapers - Eastern.
Transcontinental Inc. is closing, on or about Dec. 20, 2012, its printing plant at 7743 Bourdeau St. in LaSalle, Quebec, leading to the loss of some 150 jobs. All employees affected by the termination of printing operations at this plant have been informed of the decision and will receive severance pay as well as out-placement services to help them find new jobs. “The printing industry is undergoing a major transformation that is altering supply and demand. Given the capacity and potential of our network, we have concluded that we have excess production capacity in relation to market demand. In order for Transcontinental inc. to remain competitive in this industry under pressure and get the most out of its most efficient equipment, we have had to make the difficult decision to terminate our printing operations at LaSalle,” said Marian Kerr, senior vice president, Retail and Newspapers - Eastern.
Martha Stewart Scaling Way Back on Print
Martha Stewart Living Omnimedia Scaling Way Back on Print:
Just ahead of its third-quarter earnings call, Martha Stewart Living Omnimedia today is announcing it is scaling back its print operation by cutting 1.1 million-circulation Everyday Food from a standalone 10x frequency to a 5x supplement to flagship magazine Martha Stewart Living. In the meantime, the 760,000-circulation Whole Living, also on a 10x frequency, has been put on the block—the company says it's already in discussions on a possible sale—and if a buyer doesn't materialize then the brand's content will be folded into Martha Stewart Living. The pullback on print will come with a staff reduction, which The New York Times reports to be about 70 people, and MSLO says the new cost efficiencies of the moves could realize up to $35 million in annualized savings.
Just ahead of its third-quarter earnings call, Martha Stewart Living Omnimedia today is announcing it is scaling back its print operation by cutting 1.1 million-circulation Everyday Food from a standalone 10x frequency to a 5x supplement to flagship magazine Martha Stewart Living. In the meantime, the 760,000-circulation Whole Living, also on a 10x frequency, has been put on the block—the company says it's already in discussions on a possible sale—and if a buyer doesn't materialize then the brand's content will be folded into Martha Stewart Living. The pullback on print will come with a staff reduction, which The New York Times reports to be about 70 people, and MSLO says the new cost efficiencies of the moves could realize up to $35 million in annualized savings.
Walgreens Debuts Healthy Living Magazine
http://www.bizjournals.com/chicago/news/2012/11/01/walgreens-debuts-healthy-living-magazine.html
Walgreen Co. is getting into the magazine business with a healthy living guide available Nov. 4. The Deerfield-based drugstore chain's Happy And Healthy, Your Guide To Living Well With Walgreens will be a glossy, bi-annual magazine in English and Spanish. There will also be a similar version for Duane Reade customers. Walgreens expects circulation to be about 65 million. The magazine will be online at walgreens.com, in stores as well as inserted in Sunday newspapers across the country.
Walgreen Co. is getting into the magazine business with a healthy living guide available Nov. 4. The Deerfield-based drugstore chain's Happy And Healthy, Your Guide To Living Well With Walgreens will be a glossy, bi-annual magazine in English and Spanish. There will also be a similar version for Duane Reade customers. Walgreens expects circulation to be about 65 million. The magazine will be online at walgreens.com, in stores as well as inserted in Sunday newspapers across the country.
National Geo Launches Magazine On iPhone
National Geographic Launches Magazine on the iPhone:
National Geographic’s brand, which already reaches over 400 million worldwide—is about to grow a little bigger with the introduction of its magazine on Apple’s iPhone. National Geographic magazine’s iPhone edition will launch with the November 2012 issue. The app will provide daily updates, including video, photography, audio recordings, maps, graphic timelines, daily feeds of news, Instagram photographs from the brand’s photographers and photos from the National Geographic online community of fan photographers. Unique content will be offered each time a user opens the app.
National Geographic’s brand, which already reaches over 400 million worldwide—is about to grow a little bigger with the introduction of its magazine on Apple’s iPhone. National Geographic magazine’s iPhone edition will launch with the November 2012 issue. The app will provide daily updates, including video, photography, audio recordings, maps, graphic timelines, daily feeds of news, Instagram photographs from the brand’s photographers and photos from the National Geographic online community of fan photographers. Unique content will be offered each time a user opens the app.
Penguin & Random House Merger Creates Giant
http://www.usatoday.com/story/money/business/2012/10/29/penguin-books-random-house-merger/1665505/
Two of the largest book publishers, Penguin, home to Patricia Cornwell and Nora Roberts, and Random House, which publishes E.L. James and George R.R. Martin -- are planning to merge into the world's larest publisher in a deal announced Monday.If approved by government regulators, the merger would combine the two publishers' parent companies, the British-owned Pearson and the German-owned Bertelsmann. The merger also heads off a bid by Rupert Murdoch's News Corp., which owns publisher HarperCollins, to buy Penguin for $1.6 billion.
The new joint venture would publish about 25% of all books in the U.S. But what the consolidation means for readers and authors isn't as clear.Under the terms of the agreement, Penguin and Random House will combine their businesses in a joint venture named Penguin Random House. Bertelsmann will own 53%, Pearson 47%.John Makinson, currently chairman and chief executive of Penguin, will be chairman of the new firm; Markus Dohle, currently chief executive of Random House, will be its chief executive.
Two of the largest book publishers, Penguin, home to Patricia Cornwell and Nora Roberts, and Random House, which publishes E.L. James and George R.R. Martin -- are planning to merge into the world's larest publisher in a deal announced Monday.If approved by government regulators, the merger would combine the two publishers' parent companies, the British-owned Pearson and the German-owned Bertelsmann. The merger also heads off a bid by Rupert Murdoch's News Corp., which owns publisher HarperCollins, to buy Penguin for $1.6 billion.
The new joint venture would publish about 25% of all books in the U.S. But what the consolidation means for readers and authors isn't as clear.Under the terms of the agreement, Penguin and Random House will combine their businesses in a joint venture named Penguin Random House. Bertelsmann will own 53%, Pearson 47%.John Makinson, currently chairman and chief executive of Penguin, will be chairman of the new firm; Markus Dohle, currently chief executive of Random House, will be its chief executive.
Media Buyers Waiting Until After Election
Nearly half of media buyers waiting until after election to buy advertising: Nearly half (47%) of media buyers plan to wait until after the presidential election to buy advertising for their clients in order to avoid competing with political ads, according to a survey by media buying and selling software company Strata Marketing. The survey was based on an online poll of 80 advertising agencies, conducted in October. It found that only 35% of ad agencies expect their business conditions to be better during the second half of the year than during the first half, and 19% said they expect business conditions to be worse in the second half compared with the first half.
Also, nearly one-third of agencies surveyed do not expect their business to return to a strong growth period until after 2013.
Also, nearly one-third of agencies surveyed do not expect their business to return to a strong growth period until after 2013.
Consolidation Key To Secure Newsprint's Future
Consolidation is key if we're to secure newsprint's future:
There are many newspaper presses around the country running maybe four or five hours in every 24. It doesn't take a genius to see that this is simply not sustainable. The overheads associated with running and maintaining these operations are massive, but there are many companies across the UK in the same position. That simply needs to change. There have been many developments in the publishing sector in past decades, but many publishers have not moved with the times and have retained their printing operations. I propose a new model with publishers sticking to producing content and leaving the print to the specialists, with a clear division between print and publishing. We should pool capacity to a point where newspaper plants are producing major titles through the night while production of the regional titles is carried out during the day shifts. This would result in an elimination of this spare capacity.
There are many newspaper presses around the country running maybe four or five hours in every 24. It doesn't take a genius to see that this is simply not sustainable. The overheads associated with running and maintaining these operations are massive, but there are many companies across the UK in the same position. That simply needs to change. There have been many developments in the publishing sector in past decades, but many publishers have not moved with the times and have retained their printing operations. I propose a new model with publishers sticking to producing content and leaving the print to the specialists, with a clear division between print and publishing. We should pool capacity to a point where newspaper plants are producing major titles through the night while production of the regional titles is carried out during the day shifts. This would result in an elimination of this spare capacity.
Globe & Mail AmongTop 80 Newspapers
The Globe and Mail Among the Top 80 Best Printed Newspapers: The Globe and Mail and TC Transcontinental are pleased to announce that The Globe and Mail, Canada's National Newspaper, has been welcomed into the Top 80 of The World Association of Newspapers and News Publishers International Newspaper Color Quality Club for 2012-2014.The new TC Transcontinental Canada-wide network of hybrid presses – the only one of its kind in the country – gave The Globe and Mail the flexibility to deliver colour on every page of its publication, plus glossy magazine-quality production. The Globe and Mail is printed at five TC Transcontinental plants in Canada. Members of the Color Quality Club Jury evaluated the quality of copies produced by the Transcontinental Vaughan printing plant.
Mercer Reports Q3 Results
Mercer International Inc. Reports 2012 Third Quarter Results:
Mercer International Inc.today reported results for the third quarter ended September 30, 2012. Mr. Jimmy S.H. Lee, President and Chairman, stated: "During the third quarter of 2012, NBSK pulp prices remained generally weak. Despite this, we generated Operating EBITDA of €22.3 million, primarily as a result of strong pulp sales volumes and energy sales in the quarter."
Mercer International Inc.today reported results for the third quarter ended September 30, 2012. Mr. Jimmy S.H. Lee, President and Chairman, stated: "During the third quarter of 2012, NBSK pulp prices remained generally weak. Despite this, we generated Operating EBITDA of €22.3 million, primarily as a result of strong pulp sales volumes and energy sales in the quarter."
Mondi Releases Q3 2012 Report
Mondi Group releases 3Q 2012 report
Mondi Group announces that underlying operating profit for the third quarter ended 30 September 2012 was EUR 135 million (year-to-date EUR 405 million, 2011 EUR 490 million) in line with that of the comparable prior year period (Q3 2011 EUR 136 million) and below that of the prior quarter (Q2 2012 EUR 150 million). This was in line with expectations and reflects a stable trading environment considering the impact of the traditionally weaker European summer months, annual maintenance shuts at a number of the Group's larger operating sites during the quarter and ongoing strong cost containment. Sales volumes were, on average, similar to those achieved in the previous quarter but above those of the comparable prior year period, although demand in the downstream converting operations was below that of the prior year.
Mondi Group announces that underlying operating profit for the third quarter ended 30 September 2012 was EUR 135 million (year-to-date EUR 405 million, 2011 EUR 490 million) in line with that of the comparable prior year period (Q3 2011 EUR 136 million) and below that of the prior quarter (Q2 2012 EUR 150 million). This was in line with expectations and reflects a stable trading environment considering the impact of the traditionally weaker European summer months, annual maintenance shuts at a number of the Group's larger operating sites during the quarter and ongoing strong cost containment. Sales volumes were, on average, similar to those achieved in the previous quarter but above those of the comparable prior year period, although demand in the downstream converting operations was below that of the prior year.
Wired Editor To Launch Publishing Tools Startup
http://techcrunch.com/2012/11/02/ryan-singel-contextly/
Well, there goes another tech journalist with the startup bug.
Ryan Singel, editor of Wired’s security blog Threat Level, told me that today is his last day on the job, because he’s leaving to run his startup Contextly. Over the past decade, Singel has held various reporting and editing roles at Wired — apparently he helped start Threat Level back in 2006, and I got to know him few years later, when he was writing for the site’s Epicenter business blog. With Contextly, he said his goal is to “make tools for journalists actually designed by journalists, rather than marketers or advertisers or techie guys that don’t actually get how journalism works.”
Well, there goes another tech journalist with the startup bug.
Ryan Singel, editor of Wired’s security blog Threat Level, told me that today is his last day on the job, because he’s leaving to run his startup Contextly. Over the past decade, Singel has held various reporting and editing roles at Wired — apparently he helped start Threat Level back in 2006, and I got to know him few years later, when he was writing for the site’s Epicenter business blog. With Contextly, he said his goal is to “make tools for journalists actually designed by journalists, rather than marketers or advertisers or techie guys that don’t actually get how journalism works.”
Letterpress Is A Sign Of The Times
http://www.feltandwire.com/2012/11/01/letterpress-is-a-sign-of-the-times/
http://vimeo.com/51544296
In this charming video by The Ronaoke Times, John Reburn owner of Appalacia Press talks about the idea that seeing a surge in the letterpress business in these digital times, is a sign of overall economic growth for the Virginia town. In the video he says, “Digital will always have its place because of commerce and business and how things are made, but putting your handwriting and giving it to somebody has turned into being such a gift, it will trump anything digital or online.”
http://vimeo.com/51544296
In this charming video by The Ronaoke Times, John Reburn owner of Appalacia Press talks about the idea that seeing a surge in the letterpress business in these digital times, is a sign of overall economic growth for the Virginia town. In the video he says, “Digital will always have its place because of commerce and business and how things are made, but putting your handwriting and giving it to somebody has turned into being such a gift, it will trump anything digital or online.”
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