Paper manufacturing is based largely on the use of renewable natural fibers. Until the mid to late 1800s, non-wood plant fibers, in the form of linen and cotton rags and hemp ropes, were the main raw materials for the pulp and paper industry. Increasing demand and developments in low cost wood pulping resulted in a large expansion of the wood-based pulp and paper industry during the early to mid-1900s. Today, wood is the dominant fiber resource for the pulp and paper industry accounting for 90% of the world’s fiber utilization.1 Is tree-free paper really better for the environment? Are current environmental claims about tree-free paper accurate and substantiated? To answer these questions, we reviewed literature on the topic from experts in the field.
The McClatchy Company (NYSE-MNI) today announced that it had repurchased $41.336 million in aggregate principal amount of its 5.75% Notes due 2017 at par plus accrued and unpaid interest in a privately negotiated transaction. The company's total debt balance, after the repurchase, is now at $991.2 million and debt net of cash is approximately $948.9 million.
In a long anticipated decision, the D.C. Circuit of the U.S Court of Appeals today issued a ruling on the USPS v. PRC case on exigency. The court rejected both USPS claims that the exigent surcharge should go on forever, and mailer claims that the exigent increase was illegal because volume loss due to electronic diversion should have been anticipated. Instead, it sent the matter back to the PRC, indicating the $3.2 billion in exigent rate collections accounted only for one year of recession-caused volume loss and the USPS should be given longer than this to adjust to the "new normal" of lower mail volume. Bottom line: we do not expect the previously announced mid-summer time frame for a "roll-back" of the exigent surcharge will now hold.
Gannett Co., Inc. (NYSE: GCI) today announced that its Board of Directors has approved completion of the previously announced separation transaction which will create two publicly traded companies: a broadcasting and digital company named TEGNA and new Gannett, which will retain the name Gannett Co., Inc. and will include its publishing properties and affiliated digital assets. Under the terms of the transaction, Gannett shareholders will retain their shares of Gannett (which will be renamed TEGNA) and receive one share of new Gannett for every two shares of Gannett stock they own on the record date of June 22, 2015, and new Gannett shares will begin “regular way” trading on June 29, 2015. The spin-off remains subject to the conditions described in the preliminary information statement filed on Form 10 with the U.S. Securities and Exchange Commission.
I read with disappointment a recent Globe and Mail article published April 1st, 2015 titled “Direct deposit payments: A government pitch that makes sense” encouraging people to switch from cheques to direct deposit for government payments. In this article it is stated that “Ottawa argues in its pitch that about 32,600 trees will ultimately be saved by direct deposits.” The source of this information is a Government of Canada infographic which also mentions “100% reduction in CO2 emissions.” Two Sides and its membership of over 140 North American companies disagree with such misleading environmental messages related to print and paper products as they are damaging to the print and paper industries who are such an important part of Canada’s history.
The guide provides practical advice to help ensure buying decisions go beyond the traditional concerns of price, quality, and availability to also consider environmental and social impacts such as climate change, legality and certification – highlighting PEFC and its North American members SFI and CSA among credible certification programs. It will help inform the growing number of companies who wish to adopt green procurement policies as part of their efforts to achieve their own sustainability goals.
“Fiscal 2015 achieved 4% organic growth and a 2% of revenues improvement in margins to 21% core gross margin and 13% core operating margin. Core EPS increased to $3.20, up 50% over the prior year. We have seen benefits from prior year improvement and integration activities. Plus stronger cash flow and lower leverage positions us well to further develop our label markets,” said Nigel Vinecombe, President and CEO of Multi-Color Corporation. • Net revenues increased 15% to $810.8 million from $706.4 million in the prior year. • Gross profit increased $41.2 million or 31% compared to the prior year. Acquisitions occurring after the beginning of fiscal 2014 contributed $19.9 million to the increase.
The U.S. advertising market is expected to maintain its modest low single-digit percentage growth rate over the near term -- with the TV ad market gaining less. Brian Wieser, senior research analyst at Pivotal Research Group, estimates the growth rate of 2.5% will continue for the U.S. advertising market -- excluding Olympic and political advertising spending. The longer-term forecast is that the U.S. ad market will grow 3.1% on average through 2019. National TV spending was up 2% in the first quarter of 2015, lower than the 3.5% overall U.S. ad growth rate. Still, Wieser says that given the negative volume of TV upfront market of the summer 2014 -- and the negative fourth-quarter 2014 growth rate -- it is “still a positive number.”
Flint Group, as part of its strategy to grow in emerging markets, has today announced the launch of a new joint venture with Continental Printing Inks and Eagle Ink Systems in South Africa. Operating under the name Flint Group Africa - this new entity combines two of the leading ink and coatings suppliers to the Packaging and Print Media markets in South Africa and the Sub-Saharan region. “Flint Group along with the owners of Continental Printing Inks and Eagle Ink Systems are very pleased with this new partnership and the opportunities it presents to better serve the African market,” said Antoine Fady, CEO, Flint Group. He continued, “Under the guidance of Sampie Hamman - the business we are partnering with has grown to become the largest ink supplier in South Africa with local manufacturing sites in Johannesburg, Durban, and Cape Town where they place a strong focus on customer service and product quality – a strength which fits perfectly with Flint Group’s own strategy and vision.”
The U.S. Court of Appeals has issued an important decision on the lengthy exigency rate battle. In its ruling on Alliance of Nonprofit Mailers et al v. Postal Regulatory Commission, the court agrees with the Postal Regulatory Commission's mandate that the US. Postal Service coming to terms with a “new normal” is reasonable and justified. But it rejects “count once,” a key PRC contention that limited the Postal Service's ability to recapture lost revenue through rate hikes. The ruling grants the USPS a partial review of the PRC exigency decision of December 2013. The exigency battle flared up last June, when the USPS and the Alliance of Nonprofit Mailers challenged the PRC's exigent rate decision, which approved a 4.3% increase in Standard Mail charges for two years. The two-year restriction was a result of the PRC's “count once” directive, which stated that USPS could only recognize revenue impact of lost mail revenue for one year after the loss occurred.