We are proud to announce that our production facility has passed its annual food safety inspection and audit performed by the American Institute of Baking (AIB) International. We received a Superior rating (955 out of 1000 points). This certificate of achievement signifies that Lamitech produces clean, safe paperboard products qualified for sanitary use in the food industry. As part of the review process, Lamitech was asked to demonstrate performance in the areas of operational methods and personnel practices, sanitation program and procedures, integrated pest control, overall maintenance and thoroughness of documentation to validate on-going activities. Lamitech’s food safe packaging includes Cake Boards, SBS, Polyguard and Sammyboard fish boards.
Postmaster General Louis DeJoy delivered the following remarks today to the National Association of Secretaries of State in a conference call regarding ongoing election preparations: “Good afternoon, everyone. Thanks for the opportunity to join you today. We are less than seven weeks from Election Day. The Postal Service is ready and committed to handle whatever volume of election mail it receives. Our number one priority is to deliver election mail on-time and within the Postal Service’s well-established standards. Let me underscore that the Postal Service has more than enough capacity, including collection boxes and processing equipment, to handle all election mail this year, which is predicted to amount to less than 2% of total mail volume from mid-September to Election Day. In terms of the recent mailer, as you know the intent of our nationwide mailer was to craft one common message to encourage voters to inform themselves on how to vote by mail effectively, and to avoid providing guidance on state-specific rules and regulations. The concern that some of you have voiced about the mailer underscores why we set out to create one message and not state-specific guidance. I should note, several of you have also voiced appreciation about our educational effort to the public."
Total boxboard production in August decreased eight percent compared to August 2019. It was down three percent when compared to the same eight months of 2019. The boxboard operating rate was 90.4 percent, down 3.6 points from August 2019 and essentially flat (-0.4 pts.) year-to-date. Solid Bleached Boxboard production in August decreased 13 percent compared to August 2019. It was down six percent when compared to the same eight months of 2019. Recycled Boxboard production in August decreased six percent compared to August 2019. It was down two percent when compared to the same eight months of 2019. Unbleached Kraft & Gypsum production in August decreased two percent compared to August 2019. It was down one percent when compared to the same eight months of 2019.
National Average Price for Regular Unleaded Current: $2.182; Month Ago: $2.176; Year Ago: $2.651. National Average Price for Diesel Current: $2.406; Month Ago: $2.422; Year Ago: $2.972.
American Dollar to Canadian Dollar = 0.757962; American Dollar to Chinese Yuan = 0.147635; American Dollar to Euro = 1.184131; American Dollar to Japanese Yen = 0.009583; American Dollar to Mexican Peso = 0.047867.
We are pleased to announce that 30-year paper and packaging veteran Tony Mollica joined Twin Rivers as our new Chief Executive Officer. He brings to the company a unique blend of sales, operations, and leadership experience that will accelerate our strategic transformation to becoming the market-leading manufacturer of specialty packaging, technical, label, and publishing papers. Tony replaces Tim Lowe, who will return to his role on the Board of Directors after acting as Interim CEO.
If you buy a Lego set today, the toy bricks come packed in tiny numbered plastic bags. Every year, the toy manufacturer uses hundreds of millions of those bags. But the company is starting to phase out single-use plastic, with the goal of making its packaging sustainable by 2025—and those bags are a big part of it. Next year, it will begin rolling out an alternative, with bricks packed in Forest Stewardship Council-certified paper instead. “We want to ensure recycling our bags is as easy as possible for builders,” says Tim Brooks, vice president of environmental responsibility at the Lego Group. “Plastic recycling facilities are not very common and differ from country to country, which is why we chose to make the bags out of recyclable paper.” The company tested new packaging options extensively, searching for something that would be sustainable but also strong enough to hold Lego bricks, easy to pack in boxes, and something that children liked to use. “We tested about 15 different prototypes with hundreds of children and parents but explored many more, including those made from recycled plastic and even paper made from stone,” Brooks says.
Third Quarter Fiscal Year 2020 Financial Highlights: *Adobe achieved record quarterly revenue of $3.23 billion in its third quarter of fiscal year 2020, which represents 14 percent year-over-year growth. Diluted earnings per share was $1.97 on a GAAP basis, representing 22 percent year-over-year growth, and $2.57 on a non-GAAP basis, representing 25 percent year-over-year growth. *Digital Media segment revenue was $2.34 billion, which represents 19 percent year-over-year growth. Creative revenue grew to $1.96 billion, representing 19 percent year-over-year growth. Document Cloud revenue was $375 million, representing 22 percent year-over-year growth. *Digital Media Annualized Recurring Revenue (“ARR”) increased $458 million quarter-over-quarter to $9.63 billion exiting the quarter, representing 24 percent year-over-year growth on a constant-currency basis. Creative ARR grew to $8.29 billion, and Document Cloud ARR grew to $1.34 billion. *Digital Experience segment revenue was $838 million. Digital Experience subscription revenue was $729 million, representing 7 percent year-over-year growth. Digital Experience subscription revenue, excluding Advertising Cloud revenue, grew 14 percent year-over-year. *GAAP operating income in the third quarter was $1.07 billion, and non-GAAP operating income was $1.40 billion. GAAP net income was $955 million, and non-GAAP net income was $1.25 billion.
Octane, a Fintech company founded in 2014 to better serve the lending needs of the powersports market, today announced it has acquired the digital assets of Cycle World, Motorcyclist, Dirt Rider, Motorcycle Cruiser, UTV Driver, ATV Rider, and Cycle Volta from Bonnier Corp. “We are acquiring these titles because we want to support brands that get people excited about powersports,” said Jason Guss, CEO of Octane. “Our goal for this acquisition is to ensure that unbiased product reviews, rigorous and objective testing, and informed storytelling will continue to be available to powersports enthusiasts. When combined with Octane’s financing platform and dealership partners, consumers will soon be able to go directly from researching their dream vehicle to owning it, in a fast, seamless process.”
News Corp announced today that it plans to shift the printing of several of its publications in New York to a different facility in the city, a move which will help cut costs and secure production of print editions of The Wall Street Journal, Barron’s and the New York Post for years to come. Under the change, the publications would be printed at The New York Times’ College Point plant in Queens. This plan would result in the closure of the company’s Bronx Print Plant, where the publications are currently printed. Financial details of the arrangement were not released. The company has notified the leadership of the unions representing the employees at the Bronx Print Plant about the plan, and is entering into a period of negotiation with the unions. While the process is underway, the publications will continue to be produced at the Bronx plant.