Wednesday, May 1, 2013
RRD/Northern Tool, The Sportsman's Guide Agreement
RRD Awarded Multi-Year Multi-Million Dollar Agreement by Northern Tool, The Sportsman's Guide: R. R. Donnelley & Sons Company today announced that it has been awarded a multi-year multi-million dollar agreement that extends and expands its relationship with Northern Tool + Equipment, The Sportsman's Guide and The Golf Warehouse. Northern Tool + Equipment acquired both The Sportsman's Guide and The Golf Warehouse in December 2012.
Quad/Graphics Invests in Pixability
Quad/Graphics Invests in Pixability to Tackle Online Video Market: Quad/Graphics Inc., a leading global printer and media channel integrator, has purchased a minority interest in Pixability, a YouTube-certified marketing and advertising company that works with brands, e-commerce firms and agencies to improve video marketing results. Leading brand marketers and publishers will have access to a powerful solution that allows them to easily and effectively incorporate online video with any of their marketing channels to engage prospects and customers—from awareness to action through to customer support.
Timeless Communications Buys Symphony Publishing
Timeless Communications Corp. Acquires Symphony Publishing:
Four new titles will be added to the portfolio of Timeless Communications Corp., a Nevada-based b-to-b publisher serving the international live event technology and theater markets, with the acquisition of Symphony Publishing, the company announced Tuesday.
The newly acquired titles, which include Musical Merchandise Review, JazzEd, Choral Director and School Band & Orchestra, serve the musical instrument and music education markets. The brands join the company’s existing assets, Projection Lights and Staging News, Front of House and Stage Directions.
Terms of the deal have not been released.
Four new titles will be added to the portfolio of Timeless Communications Corp., a Nevada-based b-to-b publisher serving the international live event technology and theater markets, with the acquisition of Symphony Publishing, the company announced Tuesday.
The newly acquired titles, which include Musical Merchandise Review, JazzEd, Choral Director and School Band & Orchestra, serve the musical instrument and music education markets. The brands join the company’s existing assets, Projection Lights and Staging News, Front of House and Stage Directions.
Terms of the deal have not been released.
Newspaper Circ Down, WSJ, NYT Top Two
U.S.
newspapers continue to shed circulation, even as they grow their digital
audiences. According to the new Snapshot report from the Alliance for Audited
Media (AAM) covering the six months ended March 31, daily circ (including
print, digital and, in some cases, branded editions) decreased 0.7 percent year
over year, while Sunday circulation declined 1.4 percent.
Among
the top dailies, The Wall Street Journal kept its No. 1 position with a total
average circ of 2.4 million, up 12.3 percent over March 2012. The New York
Times jumped 17.6 percent to 1.9 million in total circulation, overtaking USA
Today for second place. (Growth at the Times was mostly digital.
Last year, its
print and digital circulation were about equal, but this past year, digital
circ increased 40 percent to 1.1 million while print circ declined 6 percent to
731,395.)
USA
Today's total average circulation declined 7.9 percent year over year to 1.7
million, knocking it from second to third place. The Los Angeles Times (up 6
percent) and New York Daily News (down 11 percent) rounded out the top five.The Times remained the biggest daily newspaper in terms of digital circulation, followed by The Wall Street Journal (digital circ rose 62 percent to 898,102), USA Today (up 116 percent to 249,900), the New York Post (up 37 percent to 200,571) and the Denver Post (up 28 percent to 192,805).
Macmillan Settles Suit
The agreement requires Macmillan to pay not only a $20 million fine, but
legal fees and a small award as well to the individual plaintiffs for their
participation.
Four of the five publishers named in the suits, including Pearson Plc's
Penguin Group, News Corp'sHarperCollins Publishers Inc and CBS Corp-owned Simon & Schuster Inc, have now settled.
Apple is the only remaining defendant in the Justice Department's lawsuit, which was filed in April 2012 in U.S. District Court in New York.
Kodak Plans to Emerge from Bankruptcy
Kodak files reorganization plan to emerge from Chapter 11 bankruptcy:
According to the company, the plan and a disclosure statement, which includes a historical profile of the company, details how Kodak plans to maintain and extend its leadership image in the commercial printing industry.
According to the company, the plan and a disclosure statement, which includes a historical profile of the company, details how Kodak plans to maintain and extend its leadership image in the commercial printing industry.
Eastman Kodak has reported $283 million in consolidated net earnings in the first quarter of 2013, compared to a $366 million loss in the prior-year quarter. The profitable quarter reflects improved results of the Commercial Imaging segments and includes a $535 million gain recorded on the sale of Kodak’s digital imaging patent portfolio, partially offset by a $77 million non-cash goodwill impairment charge related to the patent sale
USPS: The Next Amtrak?
USPS: The Next Amtrak?:
Rate hike on the horizon?
USPS defaulted on its $6 billion pre-payment for employee pension benefits and is losing an estimated $25 million a day. Postmaster General Patrick Donahoe has been dogged in slashing costs by closing processing facilities and post offices and proposing the end of Saturday mail delivery—a measure rejected this past March by the U.S. Government Accountability Office (GAO).
These and other operational measures, which the USPS estimates will total roughly $9 billion of annual savings, won't be enough. The Postal Service has used up its $15 billion statutory borrowing capacity, and little hope exists for a stalled Congress to renew its funding with new legislation. The USPS has pricing latitude, but it has for years stayed with scheduled rate increases in line with the Consumer Price Index. That may soon change. “Maybe mailers will be asked to pay a little more money,” Sharfman predicted...
One way or another, direct mailers will have to get used to the notion of a scaled down Postal Service. “It is going to shrink, it has to shrink,” Sharfman concluded. “As a model, what comes to mind is passenger rail service. It's preserved by Congress, important to some, but certainly not as important as it used to be.”
Rate hike on the horizon?
USPS defaulted on its $6 billion pre-payment for employee pension benefits and is losing an estimated $25 million a day. Postmaster General Patrick Donahoe has been dogged in slashing costs by closing processing facilities and post offices and proposing the end of Saturday mail delivery—a measure rejected this past March by the U.S. Government Accountability Office (GAO).
These and other operational measures, which the USPS estimates will total roughly $9 billion of annual savings, won't be enough. The Postal Service has used up its $15 billion statutory borrowing capacity, and little hope exists for a stalled Congress to renew its funding with new legislation. The USPS has pricing latitude, but it has for years stayed with scheduled rate increases in line with the Consumer Price Index. That may soon change. “Maybe mailers will be asked to pay a little more money,” Sharfman predicted...
One way or another, direct mailers will have to get used to the notion of a scaled down Postal Service. “It is going to shrink, it has to shrink,” Sharfman concluded. “As a model, what comes to mind is passenger rail service. It's preserved by Congress, important to some, but certainly not as important as it used to be.”
Tuesday, April 30, 2013
Resolute Reports Preliminary Q1 Results
Resolute Reports Preliminary First Quarter 2013 Results: Resolute Forest Products today reported a net loss of $5 million for the quarter ended March 31, 2013, or $0.05 per share, on sales of $1.074 billion. This compares to net income of $23 million, or $0.23 per diluted share, on sales of $1.054 billion in the first quarter ended March 31, 2012.
Excluding $33 million of special items, net income for the quarter was $28 million, or $0.30 per share. Excluding special items of $16 million, net income in the first quarter of 2012 was $7 million, or $0.07 per diluted share.
Excluding $33 million of special items, net income for the quarter was $28 million, or $0.30 per share. Excluding special items of $16 million, net income in the first quarter of 2012 was $7 million, or $0.07 per diluted share.
Chinese RCP Imports Up 26.3%, Pulp Up 36.6%
China's
recovered paper (RCP) imports rose 26.3% to around 2.609 million tonnes in
March, up from some 2.066 million tonnes in the previous month, according to
data from China Customs.
The
big increase in March intake is ascribed to the long Chinese Lunar New Year
holiday in February. March's figure was nonetheless 10.9% lower than the 2.928 million tonnes recorded in March 2012.
Total RCP imports in the first three months came in at 7.193 million tonnes, slipping 0.5% from the year-earlier period.
The March spike was due to the week-long Chinese Lunar New Year holiday in February, as pulp cargoes had been arranged to avoid arriving in the country during the long vacation period. Large quantities were therefore delivered to the country in March.
But March's total pulp import figure was 8.7% lower than the 1.631 million tonnes recorded in the same month of 2012.
Pulp imports for the first quarter totaled some 3.944 million tonnes, a decrease of 9.5% from the preceding year.
Wausau Reports Q1 Results
Excluding special items, the Company reported a net
loss for the first-quarter of $1.7 million, or $0.04 per share compared
with first-quarter 2012 net earnings, excluding discontinued operations
and special items, of $4.8 million, or $0.10 per share.
Glatfelter Reports Q1 Results
Glatfelter
(GLT) today reported first quarter 2013 net income of $15.6 million, or $0.36
per diluted share, and adjusted earnings of $17.4 million, or $0.40 per diluted
share. These results compare with first quarter 2012 net income and adjusted
earnings of $18.9 million, or $0.43 per diluted share.
Consolidated
net sales for the first quarter of 2013 totaled $405.2 million, a 2.0 percent
increase compared with $397.4 million in the first quarter of 2012.
MeadWestvaco Reports Q1 Results
MeadWestvaco's 1Q profit falls on charges:
MeadWestvaco Corp. said Tuesday restructuring charges dragged first-quarter profits down more than 77 percent at the packaging company, despite rising sales.
MeadWestvaco Corp. said Tuesday restructuring charges dragged first-quarter profits down more than 77 percent at the packaging company, despite rising sales.
Meredith Expands Ad Sales Guarantee Program
Meredith Expands Ad Sales Guarantee Program:
On the heels of a strong third quarter, Meredith Corp. announced that it is expanding its Sales Guarantee program following a successful inaugural year...
The Meredith Sales Guarantee program pledges an increase in sales performance for brands that advertise in the company’s portfolio of women-focused magazines. Brands participating in the first year of the Meredith Sales Guarantee experienced an average return on investment of $7.81 for every $1 invested in advertising in Meredith magazines, a statement from the company says.
On the heels of a strong third quarter, Meredith Corp. announced that it is expanding its Sales Guarantee program following a successful inaugural year...
The Meredith Sales Guarantee program pledges an increase in sales performance for brands that advertise in the company’s portfolio of women-focused magazines. Brands participating in the first year of the Meredith Sales Guarantee experienced an average return on investment of $7.81 for every $1 invested in advertising in Meredith magazines, a statement from the company says.
Meredith Corp., the publisher of magazines such as Ladies' Home Journal and Better Homes and Gardens, is expanding its program for large advertisers to encompass more product categories, such as pharmaceuticals, and the number of clients it will work with. "We're a multimedia company," said Tom Harty, president of Meredith's National Media Group, which sells digital media as well as magazine ad pages. "We just feel like print gets bashed a little too much."
The Economist Targets College Students
The Economist magazine is headed to campuses around the country to encourage
students, teachers, professors and others in the academic community to become
readers.
An effort that is to begin on Monday will carry the theme “Dare 2 Go Deep With The Economist” – the numeral, presumably, echoing how so many members of the intended audience use shorthand when they communicate online and on mobile devices.
An effort that is to begin on Monday will carry the theme “Dare 2 Go Deep With The Economist” – the numeral, presumably, echoing how so many members of the intended audience use shorthand when they communicate online and on mobile devices.
U.S. News & World Report Profitable Again
He saw a similar occurrence in Washington, where he presided over Regardie’s monthly business magazine from its inch-thick heyday in the 1980s to its famous flame-out during the early-1990s real estate bust.
So after Kelly — a former editor at The Washington Post — ascended to the top spot at money-losing weekly news magazine U.S. News & World Report in April 2007, he had one thought:
Not on my watch.
Hearst Launches Harper's BAZARR in Germany
Premiering with a Fall 2013 issue, the magazine will publish monthly starting in Spring 2014.
McGraw-Hill Renamed McGraw Hill Financial
This
morning (April 30), McGraw-Hill Cos. chairman/president/CEO (since 1998) Harold
("Terry") McGraw III announced the corporate name change to McGraw
Hill Financial (no hyphen). The news followed the March 22 closing of MH's $2.4
billion sale of college-textbook publisher McGraw-Hill Education to a group of investment funds affiliated with
Apollo Global Management.
Online Tax Too Late for Small Businesses?
The Senate is poised to pass a bill to require all but the smallest online sellers
to collect the tax. The House appears likely to follow suit. Although Amazon’s
desire to avoid the tax played a fundamental role in its founding and growth,
it is a supporter of the legislation.
As it builds new warehouses and extends its already considerable reach, Amazon is relying less on price than speedy delivery, free shipping and a selection that encompasses just about everything. Small retailers say Amazon was always a significant opponent, and is now a fearsome one.
“It’s beyond frustrating that Congress waited until Amazon became so
dominant that having a massive tax advantage is no longer essential to its
strategy,” said Stacy Mitchell, a senior researcher with the Institute for
Local Self-Reliance. “The right time to fix this was a decade ago, when it
could have saved many local businesses."
As it builds new warehouses and extends its already considerable reach, Amazon is relying less on price than speedy delivery, free shipping and a selection that encompasses just about everything. Small retailers say Amazon was always a significant opponent, and is now a fearsome one.
Coupon Use Still Strong
A majority of respondents (74%) state that economic factors contributed to their increase in coupon usage over the last five years, either because their personal finances declined (43%) or because the recession made them more conscious about the importance of saving (31%). Additionally, 23 percent of respondents indicate that they use coupons more now because technology makes it easier to find and use them.
Overall, the perception of couponing is positive, as indicated by nearly 6 in 10 respondents considering people who use coupons to be "savvy" (59%) versus "cheap" (9%).
CPI, Green Groups Lobby Gov. to Limit Support for Biomass
Confederation of Paper Industries (CPI) has joined forces with a number of environmental groups and fibre-based trade associations to lobby Government to limit support for energy-only biomass.
Organisations supporting the campaign include the RSPB, Greenpeace, Friends of the Earth, the
Wood Panel Industries Federation, the UK Forest Products Association and international wood product businesses Egger, Kronospan and Norbord. They have jointly written to Government warning that the pursuit of generating electricity from wood threatens to backfire, both in terms of the environment and industry.
The campaign raises concerns over Government plans to subsidise biomass electricity which could see the sector consuming the equivalent of up to six times the UK's annual forestry harvest by 2017, with catastrophic results. The group highlights that this huge new demand for wood will put up prices, risking the survival of existing industries - in wood, wood panels, packaging, construction, furniture and paper - and many of the 40,000 jobs that rely on them. Wood Panel Industries Federation, the UK Forest Products Association and international wood product businesses Egger, Kronospan and Norbord. They have jointly written to Government warning that the pursuit of generating electricity from wood threatens to backfire, both in terms of the environment and industry.
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