For the total company in 2Q 2017: ◦Revenue increased 7.7%, currency-neutral revenue* jumped 8.9%. ◦Revenue increased in all segments and major product categories, as expanded customer demand spread across the company’s broad product portfolio. ◦Operating profit was up 8.7% to $2.2 billion driven by strong performance in the U.S. Domestic and Supply Chain and Freight segments. ◦The favorable year-over-year 2Q EPS comparison includes benefits of about $0.10, primarily from fuel and workers’ compensation. ◦Year-to-date capital expenditures to support investment strategies were $2.0 billion. Click Read More below for additional details.

The New York Times Company announced second-quarter 2017 diluted earnings per share from continuing operations of $.09 compared with $.00 in the same period of 2016. Adjusted diluted earnings per share from continuing operations (defined below) was $.18 in the second quarter of 2017 compared with $.11 in the second quarter of 2016. Operating profit was $27.7 million in the second quarter of 2017 compared with $9.1 million in the same period of 2016, largely due to two special items recorded in the second quarter of 2016. Adjusted operating profit (defined below) was $67.1 million in the second quarter of 2017 compared with $54.5 million in the second quarter of 2016, principally driven by very strong digital revenues, partially offset by higher costs. Mark Thompson, president and chief executive officer, The New York Times Company, said, “We had another strong quarter in which we grew revenue and profitability and made significant changes within the organization to ensure that the acceleration of our digital business continues in the long term. Click Read More below for additional details.

Staples, Inc. announced that on July 26, 2017 the U.S. Federal Trade Commission granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (the "HSR Act") with respect to the pending acquisition of Staples by investment funds managed by Sycamore Partners, a leading private equity firm. The termination of the waiting period under the HSR Act satisfies one of the conditions to the closing of the pending acquisition, which remains subject to other customary closing conditions, including Staples' stockholder approval.

A bill that would limit states’ ability to enforce sales tax collection laws on online retailers that do not have a physical presence in those states had its first hearing on Capitol Hill today. H.R. 2887, introduced by Rep. James Sensenbrenner (R-WI) and titled the “No Regulation Without Representation Act,” went before the House Judiciary Committee’s Subcommittee on Regulatory Reform, Commercial, and Antitrust Law this morning. The bill would prohibit states from forcing businesses that do not have a physical presence in the state to collect sales tax from in-state shoppers that buy from them. Click Read More below for more of the story.

Second Quarter 2017 Financial Highlights: Net revenues totaled $209.0 million, a 2% year-over-year increase. Consumer net revenues totaled $179.1 million, a 1% year-over-year increase. Shutterfly Business Solutions net revenues totaled $29.9 million, a 10% year-over-year increase. GAAP Operating loss totaled $31.8 million and Net loss was $22.8 million or $0.68 per share. On a proforma basis, which excludes restructuring charges of $4.7 million and capital lease termination charges of $8.1 million, our operating loss was $19.1 million, Adjusted EBITDA was $17.4 million, and Net loss was $14.9 million or $0.44 per share. Click Read More below for additional details.

Amazon is working with government officials to head off a lengthy deal investigation. Amazon will re-file documents this week seeking government approval of its planned purchase of Whole Foods Market for $13.7 billion. The move will restart the process, giving U.S. antitrust enforcers more time to complete an early review of the retailers’ planned tie-up, according to the Wall Street Journal. Companies often use this tactic in the hopes that antitrust enforcers will get comfortable enough with their transaction during the extended initial review and agree to forego a longer probe. The government’s 30-day review period of the acquisition began on June 23, the Journal said. Click Read More below for more of the story.

Office Depot, Inc. announced that Janet Schijns, a veteran channel executive from Verizon, has joined the company in the newly created role of senior vice president, services – copy, print and tech. Schijns will lead the strategy for copy, print and tech services, focusing on execution and growth. She will also oversee the company’s regional print production facilities to support large scale printing capabilities and the delivery needs of business customers. Click Read More below for additional details.

Total revenues in the second quarter of 2017 were $225.1 million, down 7.1% compared to the second quarter of 2016. The sequential rate of decline is consistent with that reported for the first quarter of 2017 in the 7% range. Total advertising revenues were $125.2 million, down 11.1% in the second quarter of 2017 compared to the second quarter of 2016. The rate of decline in total advertising revenue slowed in the second quarter reflecting a sequential improvement of 90 basis points compared to the decline reported in the first quarter of 2017. The decline in advertising revenues continues to be due to the softness in traditional print advertising offset by improvements in direct marketing advertising and digital-only advertising. Revenues exclusive of print newspaper advertising accounted for 74.7% of total revenues in the second quarter of 2017, an increase from 70.4% in the second quarter of 2016. Click Read More below for additional detail.

The U.S. advertising market grew 3.8% in the second quarter of this year -- largely due to an 11% gain in digital media. Standard Media Index says this followed a 2.8% increase in the first quarter. National TV brought down the overall results. In the second quarter, national TV advertising revenue was virtually flat -- down 0.8%. This followed a weak 0.8% gain in the first quarter. These current results came amid higher-than-expected upfront advertising revenue commitments for next year’s TV season, starting in September. Upfront revenue growth is estimated at 4% to 6%. Click Read More below for more of the story.

The budget battle is a long way from over, but so far Congress appears not to share President Trump’s desire to eliminate the Institute of Museum and Library Services, or the National Endowments for the Humanities, or the Arts. On Wednesday, the full House Appropriations Committee voted to approve FY2018 funding for libraries. By a 28-22 margin, the committee approved the Labor, Health and Human Services, and Education (LHHS) funding bill, which proposes roughly $231 million for the Institute of Museum and Library Services (IMLS)—including $183.6 million for Library Services and Technology Act (LSTA) programs, and $27 million for the Department of Education’s Innovative Approaches to Literacy (IAL) program—essentially at 2017 funding levels. A post on the ALA Washington Office’s District Dispatch e-newsletter, said the “successful and extremely important" full Appropriations Committee vote represents another "major milestone" in the ALA’s Fight for Libraries! Campaign—but acknowledged there are hurdles still to come. Click Read More below for more of the story.

L.L. Bean is stepping away from its traditional back-to-school catalog. Ad Age reports the Maine-based retailer is rolling out a new website with a digital push and three TV spots centered around its new "Be an Outsider" campaign. It's all part of an effort from the traditional catalog business to become more digital centric. "The campaign is one piece of a bigger strategy to shift us from a heritage brand, in catalogs, to a product company," said Brad Matson, senior vice president of creative for L.L.Bean. Later this year, L.L.Bean is planning on launching more robust digital marketing efforts, including in-store experiences and at least a dozen TV spots by the end of 2017. Click Read More below for more of the story.

Jeff Bezos is taking the challenge of social selling into his own hands. Amazon has debuted an Instagram-like social discovery and selling feature called Amazon Spark, which it's been testing in beta for months, according to TechCrunch. “Amazon Spark is a place to discover things from people who share your interests,” the marketplace behemoth writes on its website. “Whether you're looking for inspiration for home décor or seeking advice for the best long-distance running shoes, Spark makes it easy to discover — and shop — stories and ideas from a community that likes what you like.”

With its trade segment posting a strong first half of the year and its education group turning in a solid second half, Scholastic reported a 4% increase in revenue in the fiscal year ended May 31, over fiscal 2016. Operating income, excluding one-time items, rose 17%. Revenue in the year was $1.74 billion, while operating income rose to $109.1 million, up from $93.4 million in fiscal 2016. Net income increased 29.1% to $52.3 million.

Sears Holdings (NASDAQ: SHLD) announced today the launch of Kenmore products on Amazon.com, as well as the integration of the full line of Kenmore Smart appliances with Amazon Alexa. This marks the broadest distribution of Kenmore, America's most trusted home appliance brand, outside of Sears branded stores and related online retail platforms. Kenmore Smart connected room air conditioners integrated with Alexa are now available on Amazon.com. The distribution on Amazon.com is planned to be expanded to the full line of Kenmore home appliances in all U.S. market segments, with Kenmore, Sears Home Services, and Innovel Solutions providing white-glove service for delivery, installation and extended product protection for a full range of home appliances.

Grainger (NYSE: GWW) today reported results for the 2017 second quarter ended June 30, 2017. Sales of $2.6 billion increased 2 percent versus $2.6 billion in the second quarter of 2016. There were 64 selling days in the 2017 second quarter, the same as the 2016 second quarter. Net earnings for the quarter of $98 million were down 43 percent versus $173 million in 2016. Earnings per share of $1.67 declined 40 percent versus $2.79 in 2016.

Retailers might want to have extra staff available on August 5. The peak day of the back-to-school shopping season will be August 5, followed by Labor Day, September 4, according to a study by RetailMeNot. The firm's data shows consumers are likely to do the bulk of their spending in August.

Combined graphic novel and comics sales in North America grew 5% to $1.085 billion in 2016, a $55 million increase over the $1.03 billion reported last year, according to a joint estimate by industry news sites Comichron and ICv2.com. Led by the continuing sales growth of book-format graphic novels (which rose to $590 million, from $350 million in 2015), the $1.085 billion figure represents the combined sales of book-format graphic novels, traditional comics periodicals ($405 million), and digital download-to-own comics ($90 million).

Indigo Books & Music is in discussions to expand operations to the United States as early 2018, according to several high level executives at publishing houses in Canada and the United States. According to sources, representatives for the Canadian retailer were taking meetings about the potential expansion during this year's Book Expo in New York. Executives speculated that a store is being planned for New Jersey. "[CEO] Heather [Reisman] has many close relationships in New Jersey and knows the area well," said one executive. Montclair was floated as one potential location.

Tomorrow, the U.S. Postal Service will celebrate the rich legacy of the Walt Disney Studio’s Ink & Paint Department by dedicating a sheet of 20 Forever stamps featuring 10 classic Disney Villains. Postmaster General Megan J. Brennan will be joined by Disney officials in dedicating the stamps. “The Postal Service is highlighting the Disney Villains and the pioneering spirit of the Ink and Paint Department that brought many of these characters to life,” said Brennan. “These Forever stamps are our way of saying Disney Villains will forever entertain us and serve as a tribute Disney’s artistry and storytelling skill.” Each stamp showcases one of 10 classic Disney Villains set against a blue background.

Broadside Books, an imprint of HarperCollins Publishers, has acquired World Rights to The Faith of Donald J. Trump: A Spiritual Biography for publication in January 2018. The new book, by David Brody, the Chief Political Correspondent for the Christian Broadcasting Network and Scott Lamb, the "Jesus in the Public Square" columnist for The Washington Times, draw on unparalleled access to the White House to explore the rarely discussed, but deeply important, religious beliefs and worldview of Donald J. Trump and his advisors. The deal was negotiated by Eric Nelson, VP/Editorial Director of Broadside Books, with one of the authors, Scott Lamb, who is also the Owner of Calliope Media.

Global learning company Houghton Mifflin Harcourt has partnered with King-Devick technologies, inc. to bring the King-Devick Reading Acceleration Program (K-D RAP), a new, proven-effective approach to strengthening literacy skills by teaching the physical act of reading, to students in elementary classrooms. HMH will market, sell and distribute K-D RAP to schools nationwide, while King-Devick technologies’ (KDT) specialists will provide educators with product training and technical support

A little more than two and a half years after Neiman Marcus hired its first chief information security officer, the cybersecurity lead has left the company. A Neiman Marcus spokesperson confirmed that CISO Sarah Hendrickson no longer works at the company. Hendrickson’s LinkedIn page shows that she exited the company in June and now serves as senior vice president of compliance for a company called S3.

The beginning of summer didn't give a boost to consumer spending as retail sales fell for the second straight month. Retail sales unexpectedly slipped 0.1% in June after being unchanged in May. Sales were up 3.2% unadjusted from June 2016, according to the National Retail Federation, and 3.9% on a three-month moving average year-over-year. (The numbers exclude automobiles, gasoline stations and restaurants.)

An investment group called ST Acquisition Holdings —led by former Chicago Alderman Edwin Eisendrath, about a half-dozen local investers and a coalition of labor unions, including the Chicago Federation of Labor (click here to see a list of the unionized commercial and wide-format/signage printers located in the Chicago area) and some other still-to-be-announced local unions — has acquired the Chicago Sun-Times newspaper and the Chicago Reader, a free weekly newspaper, after overcoming a competing bid from the owner of the Chicago Tribune. “A great group has come together and made sure that a genuine voice with honest and good reporting that connects with working men and women thrives,” the Sun-Times quoted Eisendrath as saying just before the acquisition closed. He is a local politician who had failed in a 2006 bid to unseat then-Illinois Governor Rod Blagojevich. Click Read More below for additional detail.

Adobe is growing. Over the past two years, our global employee base has grown by more than 30%. This growth includes our successful transformation to a cloud-based business, our expansion to lead the digital marketing category, and several acquisitions including advertising technology leader TubeMogul. To position Adobe for even greater success and growth in the future, today we unveiled our plans to expand our California and Utah facilities. This is a major investment in our U.S. presence and will add capacity for approximately 5,000 employees. Through construction of the new buildings, Adobe will also be able to increase the percentage of our employees in LEED/Green-certified buildings, which currently stands at 78%. Click Read More below for additional detail.

Amazon, Google and Twitter, along with hundreds of companies, sent a message Wednesday that net neutrality rules protecting the open internet are in danger of being dismantled by the Trump administration and new FCC head Ajit Pai. Rules currently in place ensure new and existing services, such as search, whether offered by an established internet company like Google, a broadband provider, or a small startup, have the same ability to reach users on an equal playing field. Dismantling net neutrality would change the playing field. Airbnb, Reddit and dozens of others also joined in protest, putting notices on their websites urging visitors to protect the internet and ensure free and open browsing. Click Read More below for additional detail.

How savvy are you about the worldwide publishing industry? This infographic, “A Guide to Global Reading Habits” by Global English Editing lays out the facts. In recent years, e-readers and electronic books have become a major force in publishing. How major? By 2018, e-books are projected to account for over 25% of all book sales, up from 12% of book sales in 2013. The infographic also includes a complete list of time spent reading around the globe and other worldwide reading facts. Compare this to the number of hours you read each week. Do you think you read more or less than your friends and neighbors? If the answer is six hours or more, you spend more time reading than the average adult in the United States, Canada, or the United Kingdom. You’d have to read almost eleven hours each week to beat the country with the most hours read each week, however. On average, adults in India read 10.7 hours each week! Click Read More below for additional detail.

Target Corporation updated its guidance for second quarter 2017 comparable sales and earnings per share (EPS). As a result of improved traffic and sales trends through the first two months of the quarter, Target is now expecting to report a modest increase in its second quarter comparable sales. In addition, the Company now expects to report second quarter GAAP and Adjusted EPS1 above the high end of its previous guidance range of $0.95 to $1.15. Both GAAP and Adjusted EPS are expected to reflect a 5 to 9 cent benefit driven by the net tax effect of the Company’s global sourcing operations. In addition, GAAP EPS is expected to reflect 2 to 3 cents of pressure related to the unfavorable resolution of tax matters. Target plans to report its second quarter 2017 financial results on Wednesday, August 16. “Target’s recent progress reinforces our confidence and commitment to our strategy as we build an even better Target for tomorrow. Following better-than-expected results in the first quarter, we’ve seen additional, broad-based improvement in traffic and category sales trends in the second quarter, despite continued challenges in the competitive environment” said Brian Cornell, chairman and CEO of Target. Click Read More below for additional detail.

Pearson’s 2020 Sustainability Plan is a five-year strategy to integrate social and environmental issues into every aspect of the business in order to drive growth and support the United Nations Sustainable Development Goals (SDGs). The plan is centered around three pillars – be a trusted partner; reach more learners; and shape the future of learning – that outline Pearson’s work to: Operate responsibly, create effective products, respect human rights, support people and communities, reduce its impact on the planet, build a sustainable supply chain, and ensure strong governance; Reach more learners by improving access to quality education for learners from all backgrounds; and Play a leading role in ensuring education prepares learners for the challenges and opportunities of the 21st century and creates more inclusive societies. Click Read More below for additional detail.

Cabela’s Incorporated announced that its shareholders have approved the previously announced combination of Cabela’s with Bass Pro Shops. The final vote results will be filed on a Form 8-K with the Securities and Exchange Commission. The transaction is expected to close in the third quarter of 2017, subject to regulatory approvals and customary closing conditions. “We are pleased that our combination with Bass Pro Shops has received the overwhelming support of Cabela’s shareholders,” said Tommy Millner, Cabela’s Chief Executive Officer. “Today’s results are an important milestone as we look forward to completing the merger and creating the premier retailer in outdoor sporting goods, with an unparalleled commitment to customer loyalty and satisfaction.”

Further to our January announcement, Pearson PLC announces an agreement to sell a 22% stake in the Penguin Random House Venture to our partner Bertelsmann SE & Co KGaA and recapitalise the business. The transaction is in line with our strategy and allows us to generate net proceeds of approximately $1 billion, strengthen our balance sheet, return £300m of surplus capital to shareholders via a share buyback and maintain a significant income stream from an ongoing 25% stake in the world’s leading consumer publisher. This transaction values the Penguin Random House Venture at an enterprise value of $3.55 billion. The formation of PRH in 2013 created the first truly global consumer book publishing company, with a significant market share lead over its nearest competitors. Over the last four years PRH has enjoyed significant creative and commercial success and delivered more than $150m in annualised integration benefits, increasing profit and margins and creating significant value for both partners. Click Read More below for additional detail.

Among all the changes magazine media faces—consolidation, layoffs, digital—the one consistent trend is the decline of print advertising. Moody’s estimates that print ads will continue to fall 10% through mid-2018, providing little hope for a turnaround in the traditional revenue stream that media companies used to rely on. But, it’s also true that some companies, like New York Media and Atlantic Media, have long looked past the traditional advertising spigot, to find more reliable resources of growth. This has created some innovative strategies, where organizations have sought to use their knowledge and prestige to test new revenue streams. We take a look at three different initiatives that may not replace the advertising losses, but provide a new way of viewing the potential still inherent within media brands. Click Read More below for more of the story.

Tiny Prints, the leader in premium personalized stationery, is proud to share a new home with Shutterfly, its sister brand since 2011. At www.shutterfly.com/tinyprints, customers can enjoy the luxe stationery designs they have come to count on from Tiny Prints, plus seamless access to Shutterfly's free unlimited photo storage and their wide range of photo books, personalized gifts, home décor collections, all with the convenience of a single login. With a renewed emphasis on exceptional designs, today also marks the debut of Tiny Prints Limited Edition Collection, a curated selection of designs by celebrated artists, available for a limited time only. The debut collection features beautiful personal stationery from Tobias Tovera, Stina Persson and Justina Blakeney. • Tobias Tovera is an American visual artist recognized for his work in painting and the sensory surrounds of his multi-media installations. A San Francisco Bay Area local, his paintings explore color and movement, making it the perfect backdrop for luxe foil lettering. • Stina Persson is a Swedish artist, who strives to balance the bold with the delicate, creating a dynamic aesthetic that translates beautifully on paper. She has spent much of her adult life abroad and draws her inspiration from people and faces around her. • Justina Blakeney is a designer, artist and author of the New York Times best-selling book The New Bohemians. Her signature designs are seeded with botanicals and bright colors and add a fun, wild and boho vibe to everyday stationery. Click Read More below for additional detail.

Publisher Dennis Publishing has added to its current affairs division with the acquisition of MoneyWeek, a leading financial title. The magazine had been published by Agora Publishing since 2003 and now joins the group’s flagship The Week magazine, along with The Week Junior, as publications within its current affairs division. MoneyWeek, which had a weekly circulation of 46,498 in the period July to December 2016, was founded in 2000 by The Week founder Jolyon Connell and its current editor-in-chief Merryn Somerset Webb, who is staying on as editor along with John Stepek. Click Read More below for more of the story.

The lack of a breakout print hit did not prevent unit sales in the first half of 2017 from being 3% higher than in the first six months of last year, at outlets that report to NPD BookScan (which captures 80%–85% of print unit sales). Units for the January–June period in 2017 were 310.7 million, up from 302.8 million a year ago. Just as it was in the first six months of 2016, the backlist favorite Oh, the Places You’ll Go! by Dr. Seuss was the most popular title in the first half of this year, selling more than 482,000 copies (up from 458,000 copies in January–June 2016). All four of the major segments did better this year than in the first six months of 2016. Juvenile fiction had the best performance, with unit sales up 5%. In addition to higher sales of Oh, the Places You’ll Go!, the segment benefitted from strong sales of two editions of Thirteen Reasons Why by Jay Asher, which together sold approximately 500,000 print copies. The animal category had the biggest gain among juvenile fiction segments, with sales up 21%. Click Read More below for additional detail.

Today, HP Inc. announced its commitment to enable better learning outcomes for more than 100 million people between 2015-2025 at the 2017 Global Citizen Festival in Hamburg, Germany. The Global Citizen Festival in Hamburg falls on the eve of the G20 Summit, where leaders of the world’s most powerful countries are congregating to address inequalities and promote sustainable development. HP’s pledge supports the United Nations Sustainable Development Goal 4 and aligns with the company’s goal to improve access to quality education and lifelong learning for all in the classroom and beyond, as outlined in the recently released HP 2016 Sustainability Report. Click Read More below for additional detail.

Unit sales of print books rose 3% for the first six months of 2017 compared to the first half of last year at outlets that report to NPD BookScan. Units for the January-June period in 2017 totaled 310.7 million, up from 302.8 million a year ago. All four of the major segments had increases over the first six months of 2016, with juvenile fiction having the best performance; unit sales in the category were up 5%. The growth in juvenile nonfiction was just behind fiction, up 4%. Sales in the adult segments were less robust. Adult nonfiction unit sales increased 2% over the first half of 2016, while adult fiction sales rose just under 1%. Click Read More below for additional detail.

The Home Depot® today announced a definitive agreement to purchase Compact Power Equipment, Inc., a leading national provider of equipment rental and maintenance services for $265 million in cash. The transaction is expected to close by the end of the company's fiscal second quarter. As a long-term commercial partner of The Home Depot since 2009, Compact Power Equipment currently provides compact equipment rentals at more than 1,000 stores across the U.S. and Canada. The company also provides equipment maintenance services nationwide to a range of customers, including The Home Depot. By acquiring Compact Power Equipment, The Home Depot continues to invest in capabilities that uniquely serve its core customers. Click Read More below for additional detail.

The company reported net sales of $4.424 billion for the 22 weeks ended July 1, 2017, a decrease of 6 percent compared to net sales of $4.727 billion for the 22 weeks ended July 2, 2016. Comparable sales for the 22 weeks ended July 1, 2017, decreased 9 percent. For the 22 weeks ended July 1, 2017, the exit of the swim and apparel categories had a negative impact of about 7 percentage points and 10 percentage points to total company and Victoria’s Secret comparable sales, respectively. Click Read More below for additional detail.

Costco Wholesale Corporation reported net sales of $12.17 billion for the month of June, the five weeks ended July 2, 2017, an increase of seven percent from $11.33 billion during the similar period last year. For the forty-four weeks ended July 2, 2017, the Company reported net sales of $104.28 billion, an increase of six percent from $98.51 billion during the similar period last year. Click Read More below for additional detail.

What happens when a leading world government on the forefront of scientific discovery holds an election, and the newly elected officials and their retinue revoke access to scientific information and important data paid for and used by taxpayers, citizens, and the general public? And what happens when these new leaders then undercut funding that could be used to close gaps in scientific and public health data that clearly led to deaths and disease? We’re finding out. Lack of access to raw data from governmental sources curtails the independence of scientists to conduct research, formulate new hypotheses, and validate results, while preventing citizens from monitoring issues of civic and scientific interest and importance. Information is power, and those newly in power seem reluctant to share either. Click Read More below for more of the story.

Camping World Holdings has given an update on its plans for Gander Mountain. Camping World, which acquired the assets of Gander Mountain and boating division Overton's in a bankruptcy auction in May, said it plans to operate 57 locations — assuming details can be worked out with landlords and final acceptable leases agreed to. Liquidation sales started in May at all 160 Gander stores. The plan for the locations that have survived the cut is for them to reopen under the new brand of Gander Outdoors. The stores will feature a fresh mix of Gander Outdoors, Overton's and Camping World products and services. Click Read More below for more of the story.

Ingram Publisher Services has added to its international capabilities with the acquisition of National Book Network International (NBNi). Located in Plymouth, England, NBNi was founded 14 years ago by the Lanham, Md.-based National Book Network and does international distribution for both print and digital books. According to Ingram, NBNi’s client services business will complement Ingram’s range of digital, physical, and print-on-demand solutions. “NBNi is a sound, established, and widely respected distributor in the British book trade with a reputable base of publisher clients, well-supported by the excellent and experienced team in Plymouth,” said David Taylor, senior v-p of international content acquisition at Ingram Content Group, in a statement. “Our plan is to build on this strong foundation and grow the business.” Click Read More below for more of the story.

As reported recently in the Bangor Daily News, John Halle (CEO of Cate Street Capital) has formally dismissed the libel lawsuit that Cate Street Capital and Halle had initiated against Verle Sutton almost two years ago. This claim of libel had resulted from an article in the May 2014 issue of The Reel Time Report, written by Sutton, in which Cate Street Capital and State of Maine officials were strongly criticized for actions they took that related to the Great Northern Paper mills in northern Maine. Industry Intelligence, the publisher of Reel Time, had also been named as a defendant in this lawsuit. Industry Intelligence and John Halle reached a settlement earlier in 2016. In response to John Halle choosing to end the lawsuit against Sutton, and the Industry Intelligence settlement, Verle Sutton has issued the following statement: I am grateful to family and friends who have been so supportive during the last two years as we fought through the groundless lawsuit that John Halle and Cate Street Capital initiated against me for authoring “The Maine Problem.” The legal costs incurred during the last two years have been substantial, and the time our family lost was unfortunate. However, our losses pale in comparison to the damage that has been inflicted on the East Millinocket and Millinocket communities and, in fact, on all of northern Maine. These communities and this region were misled by state officials and Cate Street about the viability of the restarted Great Northern Paper mills.