DMA Discourages Senators from Passing the Marketplace Fairness Act: he Direct Marketing Association (DMA) wrote a letter to the U.S. Senate discouraging its members from passing the current draft of the Marketplace Fairness Act (S.743)—a bill that would give states the power to require remote sellers, including e-commerce sites and catalogers, to collect sales tax. The Senate agreed to move the bill to the floor for debate in a 74 to 20 procedural vote that occurred Monday evening.
In the letter, the DMA claims that the Marketplace Fairness Act “has not received a full vetting and markup in a Senate committee” and asks that the Senate not pass the bill until outlined simplification requirements are met.
Thursday, April 25, 2013
Wednesday, April 24, 2013
Resolute Launches Senior Notes, Tender Offer
Resolute Forest Products Inc. (NYSE: RFP) (TSX: RFP) today announced that it has launched a private offering for $600 million aggregate
principal amount of senior notes due 2023. The notes will be unsecured
and guaranteed by substantially all of Resolute's U.S. subsidiaries. The
net proceeds from the sale of the 2023 notes will be used in connection
with the repurchase, repayment or other discharge of all, or
substantially all, of the $501.2 million outstanding
aggregate principal amount of the Company's 10.25% senior secured notes
due 2018. The Company has contemporaneously launched a tender offer for
the 2018 notes, which offer is scheduled to expire at 12:00 midnight, New York City time, on May 21, 2013, unless extended by the Company.
Resolute Launches Tender Offer and Consent Solicitation for its 10.25% Senior Secured Notes
Resolute Launches Tender Offer and Consent Solicitation for its 10.25% Senior Secured Notes
Resolute Forest Products Inc. (NYSE: RFP) (TSX: RFP) today
announced that it has launched a cash tender offer for any and all of
its $501 million outstanding
aggregate principal amount of 10.25% senior secured notes due 2018
(CUSIP No. 003687AB6) (the "2018 notes"). In connection with the tender
offer, Resolute is soliciting consents to amend the 2018 notes and the
indenture that governs them to eliminate substantially all the
restrictive covenants and certain events of default, and to release all
the collateral securing the 2018 notes. The tender offer and consent
solicitation are being made pursuant to an offer to purchase and consent
solicitation statement, dated April 24, 2013 (the "offer to purchase"), which more fully sets out the terms and conditions of the tender offer and consent solicitation.
Georgia-Pacific to Buy Buckeye Technologies
Georgia-Pacific to buy Buckeye Technologies:
Georgia-Pacific is buying Buckeye Technologies Inc., boosting its product lineup, for about $1.46 billion.
The privately held Atlanta-based paper, packaging and building products company says it reached a deal to buy all of Buckeye's common stock for $37.50 per share. The price represents a 25 percent premium over Buckeye's Tuesday closing stock price. Its shares are trading at that price as the markets open.
Memphis, Tenn.-based Buckeye makes and markets specialty fibers and nonwoven materials made from wood and cotton.
Georgia-Pacific is buying Buckeye Technologies Inc., boosting its product lineup, for about $1.46 billion.
The privately held Atlanta-based paper, packaging and building products company says it reached a deal to buy all of Buckeye's common stock for $37.50 per share. The price represents a 25 percent premium over Buckeye's Tuesday closing stock price. Its shares are trading at that price as the markets open.
Memphis, Tenn.-based Buckeye makes and markets specialty fibers and nonwoven materials made from wood and cotton.
Investment in Renewables Forecast to Triple
The plunge
in the cost of wind and solar power that bankrupted more than two dozen
manufacturers is forecast to spur a tripling of investment in renewables by
2030 and to reduce the grip fossil fuels have on world energy supply.
Annual
spending on clean-energy projects that don’t add to greenhouse-gas pollution
may rise to $630 billion at the end of the next decade from $190 billion last
year, Bloomberg New Energy Finance said in a report today. That’s 37 percent
more than estimated in November 2011 and means renewables would account for
half of all generation capacity by 2030.
Recognizing Economic Value of Natural Assets
http://www.worldbank.org/en/news/press-release/2013/04/18/call-to-action-on-recognizing-the-true-value-of-nature
More and more countries are putting natural assets like clean water, forests
and other ecosystems into the center of their economic decision-making, a
High-level Ministerial Dialogue on Natural Capital Accounting, on the eve of
the World Bank-IMF Spring Meetings, heard today.
Over 25 ministers and vice-ministers of finance, development and environment attended the Dialogue – which convened the `first-movers’ of Natural Capital Accounting (NCA). This is a group of more than 60 countries committed to supporting NCA to move beyond GDP as the main measure of an economy’s progress.
Over 25 ministers and vice-ministers of finance, development and environment attended the Dialogue – which convened the `first-movers’ of Natural Capital Accounting (NCA). This is a group of more than 60 countries committed to supporting NCA to move beyond GDP as the main measure of an economy’s progress.
The Atlantic to Launch a Paid Online Product
The
Atlantic Monthly Group will release some form of paid content product online in
the coming weeks President Justin Smith said at a conference in New York last
week. On a panel of publishers that included News Corp. and MLB, Smith said
that the plan was to explore every kind of business model and monetization
method for digital.
“To
see the ad model is going to win over the pay model is foolish,” he said.
Adding to the chorus of support for paid content online was President and CEO
of MLB Advanced Media Bob Bowman who said, any publication out there should
have a paid content product."
Interestingly, the Atlantic has proven to be among the most successful of magazines to make the transition to digital. It’s digital revenue was up 33% in 2012 and a substantial part of the company’s third year of profitability.
Interestingly, the Atlantic has proven to be among the most successful of magazines to make the transition to digital. It’s digital revenue was up 33% in 2012 and a substantial part of the company’s third year of profitability.
Niche Publications Surviving
Even as print media churns through phases of collapse, revolution and
rejuvenation, niche publications seem to pop up constantly. With tiny
operations, they serve readers mad for things like home-brewed kale juice and
exploring perspectives on contemporary art.
But this is all old hat for the Hudson Review,
which has been blossoming with quarterly pages of poetry, fiction and criticism
since 1948.
Bauer Suspends More Magazine
Bauer suspends More magazine as circulation drops below 100,000:
The magazine, printed by Polestar Bicester, has been running for 25 years but ran its last issue on Tuesday as its 22 staff entered a consultation period. The publisher will not decide whether to completely close the magazine until the consultation period has ended.
The magazine, printed by Polestar Bicester, has been running for 25 years but ran its last issue on Tuesday as its 22 staff entered a consultation period. The publisher will not decide whether to completely close the magazine until the consultation period has ended.
Folio: People On The Move
People On The Move | 4.24.13:
Timothy O'Brien has joined Bloomberg View as publisher. O'Brien was previously executive editor at The Huffington Post.
Frommer's has named Jason Cochran as its new editor-in-chief. Cochran joins the publication from AOL Travel where he was an executive editor.
Kasia Cieplak-Mayr von Baldegg has been named as an executive producer at The Atlantic. She was previously an associate editor with the company.
The Association of Magazine Media (MPA) has promoted Ethan Grey to senior vice presient of digital strategy and initiatives. Grey was previously vice president of digital at MPA.
And more...
Timothy O'Brien has joined Bloomberg View as publisher. O'Brien was previously executive editor at The Huffington Post.
Frommer's has named Jason Cochran as its new editor-in-chief. Cochran joins the publication from AOL Travel where he was an executive editor.
Kasia Cieplak-Mayr von Baldegg has been named as an executive producer at The Atlantic. She was previously an associate editor with the company.
The Association of Magazine Media (MPA) has promoted Ethan Grey to senior vice presient of digital strategy and initiatives. Grey was previously vice president of digital at MPA.
And more...
USPS Awards FedEx Air Cargo Network Contract
USPS Awards FedEx Air Cargo Network Contract: On April 23, 2013, the United States Postal Service awarded Federal Express Corporation (FedEx) a seven-year Air Cargo Network contract to provide domestic air transportation service for Priority and Express Mail. The current contract with FedEx ends in September 2013, and the new contract will begin in October 2013.
Postal Service Names VP Digital Solutions
The Postal Service Hires a Cop to Bust Down the Digital Door: How many entrenched old enterprises, confronted with their very mortality in the face of encroaching digital domination, would put one of their security chiefs in charge of innovation? That's exactly what the United State Postal Service did in appointing Deputy Chief Postal Inspector Randy Miskanic its new vice president of digital solutions.
Tuesday, April 23, 2013
Stora Enso Reports Q1, Plans Restructure
Stora Enso: "First quarter performance as expected - time to rethink structures": Stora Enso CEO Jouko Karvinen comments on first quarter 2013 results announced today:
“The first quarter of 2013 was, as expected, clearly characterised by weak markets and profitability for our Printing and Reading and Building and Living Business Areas. The combination of continuing structural decline in media-driven paper grades and economic weakness in Europe led to year-on-year declines of 9% in the Group’s operational EBITDA and 21% in operational EBIT despite the solid performance of the other two Business Areas. Seasonality also reduced the cash flow to an unsatisfactory level.
“The first quarter of 2013 was, as expected, clearly characterised by weak markets and profitability for our Printing and Reading and Building and Living Business Areas. The combination of continuing structural decline in media-driven paper grades and economic weakness in Europe led to year-on-year declines of 9% in the Group’s operational EBITDA and 21% in operational EBIT despite the solid performance of the other two Business Areas. Seasonality also reduced the cash flow to an unsatisfactory level.
Stora
Enso plans to launch a Group streamlining and structure simplification project
intended to achieve annual fixed cost savings of EUR 200 million, including the
earlier announced EUR 30 million in the Building and Living Business Area, with
the full impact starting from the second quarter of 2014. The project is
planned to include all Business Areas and corporate functions. In addition to
reducing costs, the planned project would reduce interdependencies between
businesses and enable a stronger focus on growth in value creating businesses.
Earth Day Request: Cut the Anti-paper Greenwashing!
by Two Sides U.S
I’ve had it with my bank and all the other companies that are bashing paper products to promote electronic billing, statements and other e-services.
I’ve had it with my bank and all the other companies that are bashing paper products to promote electronic billing, statements and other e-services.
It may come as a surprise to you
but 8.4 million Americans make a living in the print, paper and mail value
chain that generates 1.3 trillion in revenues (EMA
2012 Job Study). I bet you’re getting a lot of this money in
your coffers.
About 10 million Americans
own private forestland (US Forest Service)
and many of them rely on the income from their properties to make a living (ex:
lumber for construction and pulp used for papermaking – yes PAPER)...
I believe we are the ones saving forests for the long-term by managing them responsibly and making sure our society can benefit from forest products (like paper) that are highly renewable, highly recyclable and store carbon for their useful life. These inherent environmental features make paper quite a sustainable product compared to all the other things that surround us, including electronics...
It’s time to gather your marketing team in a room and tell them to stop greenwashing the millions of people who earn a living from the print, paper, mail and forestry value chain. Please focus your message on the true benefits of e-media: speed, convenience and maybe a few others.
Remember…we are your customers and most of us care about the environment just as much as you do.
Now it’s time for me to shut down my computer and cell phone for the day and go for a walk in the forest. Happy Earth Day!
Wausau Brokaw Site Sold
The
former Wausau Paper mill in Brokaw has been sold again.
Niagara
Worldwide LLC and its subsidiary Brokaw Development said Monday it sold the 50-acre
site for an undisclosed amount.
Don
Jacobsmeyer, director of real estate for Niagara Worldwide, said Brokaw
Holdings LLC, a subsidiary of B & B Metals, a metal scrap company located
near Manitowoc owned by Bob Burrows, purchased the property.
Mohawk Names Names VP Sales
Mohawk,
North America's largest privately-owned manufacturer of fine papers, envelopes
and specialty substrates for commercial and digital printing, is pleased to
announce three management promotions and two new hires.
Melissa Stevens has been promoted to Vice President, Sales. Previously, Director of Sales, Strategic Accounts and Sales Process Improvement, Stevens will continue to manage and develop Mohawk's sales force, driving new initiatives and developing new market opportunities. Stevens holds a BS in Business & Marketing from the University of Colorado, Boulder, and is currently pursuing her MBA. She joined Mohawk in 2004 as Specification Sales Representative in the New England Region.
Michelle A. Carpenter has been promoted to Vice President, Environmental and Energy Stewardship. Beth Reardon has been promoted to Regional Sales Manager, Midwest.
Melissa Stevens has been promoted to Vice President, Sales. Previously, Director of Sales, Strategic Accounts and Sales Process Improvement, Stevens will continue to manage and develop Mohawk's sales force, driving new initiatives and developing new market opportunities. Stevens holds a BS in Business & Marketing from the University of Colorado, Boulder, and is currently pursuing her MBA. She joined Mohawk in 2004 as Specification Sales Representative in the New England Region.
Michelle A. Carpenter has been promoted to Vice President, Environmental and Energy Stewardship. Beth Reardon has been promoted to Regional Sales Manager, Midwest.
Resolute Thunder Bay Curtails Production as Union Votes "No"
Resolute
to curtail Thunder Bay, ON, newsprint and pulp mill for two weeks starting Apr.
24, as it looks to contract out jobs.
CEP
union rejects proposal from Resolute Forest Products to eliminate jobs through
contracting out
Members
of the Communications, Energy and Paperworkers Union of Canada Local 39 have
voted down a proposal from Resolute Forest Products to eliminate jobs through
contracting out. The employer has identified 42 jobs across the mill which they
have decided to contract out, including newsprint shipping, kraft shipping,
garage maintenance and bark inventory and handling.
Resolute
Forest Products were under CCAA protection until 2010, and the plan of
arrangement to exit this protection contained a new collective agreement which
reduced wages by 10%, required employees to pay the premium costs for their
short term disability plan, and a reduction in vacation pay.
Haute Time Moves from Digital to Print
After Launching in Digital, Haute Time Rolls Out Print Mag: Courting a digital audience before introducing a print product is becoming a much more common practice by content publishers, and a strategy that new enthusiast magazine Haute Time is betting on. The new 50,000-circ, biannual pub launched on Monday and is hoping to tap the power of social, celebrity and digital as a blueprint for success.
In April 2012 Haute Media Group introduced a group of niche sites focused on the luxury consumer demographic as a spin off to its Haute Living magazine; the media network includes sites HauteTime, HauteAuto, HauteResidence, HauteYatchs and HauteFashionDaily.
In April 2012 Haute Media Group introduced a group of niche sites focused on the luxury consumer demographic as a spin off to its Haute Living magazine; the media network includes sites HauteTime, HauteAuto, HauteResidence, HauteYatchs and HauteFashionDaily.
Advanstar Debuts Online Marketplace
Advanstar life sciences group debuts online marketplace: Media company Advanstar Communications' life sciences group has launched the Pharmaceutical Technology and BioPharm International Marketplace.
Home Depot Surveys SMBs on Green Products
The
survey of more than 1,000 small business owners found that more than one-third
of those surveyed (36 percent) would pay a higher initial cost for greener
office products if they would generate long-term savings. Eighty-four percent
say they would purchase the "green" office product over the
comparable regular office product if the two were equally priced.
Ebay Fighting Online Tax Bill
EBay is calling on some 40
million of its users to fight a national legislation that would give states the
power to collect sales tax from out-of-state online retailers.
John Donahoe, eBay's CEO, sent the first of the emails out Sunday morning. The message, aimed at users and sellers in eBay's Marketplace, charges that the proposed legislation, known as the Marketplace Fairness Act, would burden small entrepreneurs. The Act, which the Senate may vote on this week, applies to businesses with more than $1 million in out-of-state revenues. Donahoe argues that the threshold should be $10 million in revenues or 50 or more employees, which would apply to only large online retailers, like Amazon.
Amazon supports the bill, a spokesman told The Wall Street Journal. Reps from
Amazon could not be reached for further comment. The National Retail Federation
is also in favor of the measure.
John Donahoe, eBay's CEO, sent the first of the emails out Sunday morning. The message, aimed at users and sellers in eBay's Marketplace, charges that the proposed legislation, known as the Marketplace Fairness Act, would burden small entrepreneurs. The Act, which the Senate may vote on this week, applies to businesses with more than $1 million in out-of-state revenues. Donahoe argues that the threshold should be $10 million in revenues or 50 or more employees, which would apply to only large online retailers, like Amazon.
Subscribe to:
Posts (Atom)