The Oregonian reported that RR Donnelley will be closing its Gresham commercial printing plant, which is located east of Portland, later this summer. The newspaper indicated that the Chicago-based company notified the state of Oregon with its intentions on Wednesday, in compliance with federal WARN (Worker Adjustment and Retraining Notification Act) regulations that require 60 days advance notice for facilities employing more than 100 workers. According to The Oregonian, the notification letter from RR Donnelley blamed “changing market conditions” as the reason behind the closure and indicated that the 113 employees there will be let go during a two-week period beginning August 1.
The state of South Dakota has filed a lawsuit against four big online retailers seeking to force them to comply with a new state law that requires them to collect and remit sales tax even if they have no physical presence in South Dakota. The state on Thursday sued Newegg Inc., No. 17 in the Internet Retailer 2016 Top 500 Guide; Overstock.com Inc. (No. 29); Systemax Inc. (No. 32); and Wayfair LLC. (No. 24) in a circuit court in Hughes County, where the state capital of Pierre is located. The suit seeks the court to affirm that South Dakota may require the four web-only retailers to collect and remit sales tax. The lawsuit is explicitly aimed at forcing the U.S. Supreme Court to reverse its 1992 ruling in a case known as Quill Corp. v. North Dakota in which the high court rules that only a company with a physical presence in a state—such as a store, office or warehouse—could be required to collect sales tax from state residents. The lawsuit says in the first paragraph of the summary, “The State acknowledges that a declaration in its favor will require abrogation of the United States Supreme Court’s decision in Quill Corp. v. North Dakota.”
Oil prices fell on Monday as rising production in the Middle East outweighed a decline in the U.S. output and a sliding dollar, while Morgan Stanley warned that an emerging gasoline glut could also spill back into crude markets. Brent was trading at $46.90 per barrel at 0643 GMT, down 47 cents, or 1 percent, from its last settlement. U.S. crude was down 33 cents at $45.59 a barrel. OPEC supplies rose to 32.64 million barrels per day (bpd) in April, from 32.47 million bpd in March, according to a Reuters survey. That almost matches January's 32.65 million bpd, when Indonesia's return to OPEC boosted production to the highest, since at least 1997.
Bemis Company, Inc. today announced that it has completed the acquisition of the medical device packaging operations and related value-added services of SteriPack Group, a global manufacturer of sterile packaging solutions for medical device and pharmaceutical applications. This acquisition includes a facility in Ireland as well as packaging production assets in Malaysia and the United States. These operations recorded annual net sales of approximately US$65 million in fiscal 2015. SteriPack Group will continue to independently own and operate its contract manufacturing services business. Details of the transaction were not disclosed.