Sappi North America, a leading producer and supplier of diversified paper and packaging products, and Fond du Lac Tribal and Community College, have received a $350,000 grant from the Minnesota Job Skills Partnership (MJSP) to develop and implement a Knowledge Management and Training System at the Sappi mill in Cloquet, Minnesota. The proposed Knowledge Management and Training System will house Sappi's impressive knowledge base in a way that is accessible and actionable for all employees. The computerized, user-friendly system will be used to identify, document and transfer employees' knowledge so that critical information can not only be shared for the betterment of all Sappi's Minnesota employees, but unique, experiential information can be passed on from retiring generations of workers to new ones. It will provide self-directed training and assist in succession planning and job task certifications.
For the four weeks ended Jan. 23, 2016, same store sales decreased 1.4 percent over the prior-year period. January front-end same store sales decreased 1.9 percent. Pharmacy same store sales, which included an approximate 242 basis points negative impact from new generic introductions, decreased 1.2 percent. Same store sales for the 47-week period ended Jan. 23, 2016 increased 1.5 percent over the prior-year period. Front-end same store sales increased 0.3 percent while pharmacy same store sales increased 2.0 percent.
Catalyst Paper (TSX: CYT) regrets to report the occurrence of a fatal incident involving an employee at its Crofton mill. The incident resulted from an industrial vehicle roll-over which occurred yesterday evening at the mill. The Coroner, RCMP and WorkSafeBC have been contacted and an investigation is underway. “We are saddened by this tragic incident,” says Joe Nemeth, President and Chief Executive Officer. “We are doing everything possible to support the investigation. We extend our deepest sympathies to the family of the deceased.” WorkSafeBC will lead the investigation, fully supported by mill personnel.
American Dollar to Canadian Dollar = 0.711134 American Dollar to Chinese Yuan = 0.152062 American Dollar to Euro = 1.091469 American Dollar to Japanese Yen = 0.008259 American Dollar to Mexican Peso = 0.054675
National Average Price for Regular Unleaded Current: $1.813 Month Ago: $2.001 Year Ago: $2.044 National Average Price for Diesel Current: $2.059 Month Ago: $2.270 Year Ago: $2.816
In the week ending January 22, 2016, West Texas Intermediate crude oil prices rose ~9% to close at $32.19 per barrel on January 22, 2016. Crude oil prices will also likely gain due to positive talks from Russia on production cuts. Crude oil prices rose more than 9% to close at $33.22 per barrel on January 28, 2016. At the beginning of this week, crude oil prices fell by more than 5% on January 25, 2016. Iran’s record crude oil output of 4.13 MMbpd (million barrels per day) in December 2015 led investors to focus on oversupplies in the global crude oil markets. Iran’s crude oil production averaged 3.7–3.8 MMbpd in the months before December 2015. However, the sudden rise in the production levels renewed the focus on oversupplies.
Net sales increased 22% to $35.7 billion in the fourth quarter, compared with $29.3 billion in fourth quarter 2014. Excluding the $1.2 billion unfavorable impact from year-over-year changes in foreign exchange rates throughout the quarter, net sales increased 26% compared with fourth quarter 2014. Operating income increased 88% to $1.1 billion in the fourth quarter, compared with operating income of $591 million in fourth quarter 2014. Net income was $482 million in the fourth quarter, or $1.00 per diluted share, compared with net income of $214 million, or $0.45 per diluted share, in fourth quarter 2014.
The company eliminated another 40 positions this week across a variety of departments, stretching the process over the last several days. The staff reductions, originally reported by the Allentown Morning Call, do not appear to be limited to certain brands or departments. “Rodale management has made the very painful but strategic decision to eliminate certain positions across the company,” a company spokesperson tells Folio:. “Over the course of the past few days, the impacted employees were notified.” Rodale declined to be more specific with the staff reduction, citing a “proactive response to industry changes," but a source inside the company tells Folio: that the cuts affected most if not all of Rodale's brands, and that many of the departures are director-level staffers or department heads.
• Delivers GAAP EPS of 27 cents, adjusted EPS of 32 cents and sequential increase in operating margin to 9.2% • Generates strong cash flow of $878 million in the quarter, $1.6 billion full-year • Services segment delivers revenue of $2.6 billion and double-digit growth in signings in the quarter • Document Technology continues to deliver strong operating margin and remains the industry equipment share revenue leader
•Transaction to create $11 billion Document Technology company and $7 billion Business Process Outsourcing company in tax free structure •Separation, expected to be complete by end of 2016, will maximize return to shareholders and align with current market dynamics •Announces strategic transformation program anticipated to deliver $2.4 billion in savings over next 3 years across both companies