In a letter sent to employees Tuesday, Hachette Book Group USA CEO Michael Pietsch said the company had accomplished its primary objective of growing in 2016. The purchase of the publishing division of the Perseus Books Group increased HBG's revenue by about 15% and added to the company's nonfiction and backlist offerings, Pietsch said. Excluding results from Perseus, Pietsch said revenue was down slightly from 2015 but earnings rose by 25%, which he attributed to costs savings and an increase in the number of bestsellers. When adding Perseus, "our revenues grew and our profits grew even more," Pietsch said. He said that the decline in revenue from HBG's core properties was due to a decline in e-book and paperback sales plus the transition of Yen Press to a joint venture with Kadokawa. Offsetting those trends was an increase in its Orbit publishing programs and the release of the first titles in the jimmy patterson, Goop Press, and Lee Boudreaux imprints. click Read More below for additional detail
The United States Postal Service filed notice with the Postal Regulatory Commission (PRC) today of price changes to take effect Jan. 27, 2019.
The proposed prices, approved by the Governors of the Postal Service, would raise Mailing Services product prices approximately 2.5 percent. Shipping Services price increases vary by product. For example, Priority Mail Express will increase 3.9 percent and Priority Mail will increase 5.9 percent. Although Mailing Services price increases are based on the Consumer Price Index (CPI), Shipping Services prices are primarily adjusted according to market conditions. The Governors believe these new rates will keep the Postal Service competitive while providing the agency with needed revenue.
If favorably reviewed by the PRC, the new prices will include a 5-cent increase in the price of a First-Class Mail Forever stamp, from 50 cents to 55 cents. The single-piece additional ounce price will be reduced to 15 cents, so a 2-ounce stamped letter, such as a typical wedding invitation, will cost less to mail, decreasing from 71 cents to 70 cents.
The proposed Mailing Services price changes include:
Product Current Proposed
Letters (1 oz.) $0.50 $0.55
Letters additional ounces $0.21 $0.15
Letters (metered 1 oz.) $0.47 $0.50
Outbound International Letters (1 oz.) $1.15 $1.15
Domestic Postcards $0.35 $0.35
The proposed domestic Priority Mail Retail Flat Rate price changes are:
Product Current Proposed
mall Flat Rate Box $7.20 $7.90
Medium Flat Rate Box $13.65 $14.35
Large Flat Rate Box $18.90 $19.95
APO/FPO Large Flat Rate Box $17.40 $18.45
Regular Flat Rate Envelope $6.70 $7.35
Legal Flat Rate Envelope $7.00 $7.65
Padded Flat Rate Envelope $7.25 $8.00
First-Class Package Service, a lightweight expedited offering used primarily by businesses for fulfillment purposes, will move to zone-based pricing to better align with the cost of service and improve value based on distance.
The Postal Service has some of the lowest letter mail postage rates in the industrialized world and also continues to offer a great value in shipping. Unlike some other shippers, the Postal Service does not add surcharges for fuel, residential delivery, or regular Saturday or holiday season delivery.
The PRC will review the prices before they are scheduled to take effect Jan. 27, 2019. The complete Postal Service price filings with the new prices for all products can be found on the PRC site under the Daily Listings section at https://www.prc.gov/dockets/daily (see listing for Oct. 10). For the Mailing Services filing see Docket No. R2019-1. For the Shipping Services filing see Docket No. CP2019-3. The price change tables are also available on the Postal Service website at https://pe.usps.com/PriceChange/Index.
The Postal Service receives no tax dollars for operating expenses and relies on the sale of postage, products, and services to fund its operations.