The following is a comment from Maria A. Pallante, President and CEO, Association of American Publishers:
“We are extremely pleased that the district court has approved the proposed consent judgment. As we have stated before, it is an appropriately serious bookend to a decisive finding that so called “controlled digital lending” is nothing more than copyright infringement.”
see more at: https://publishers.org/wp-content/uploads/2023/08/Hachette-v.-IA-Consent-Judgement-and-Permanent-Injunction-Subject-to-Reservation-of-Right-to-Appeal.pdf
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Total revenue of $16.8 billion increased 3.4 percent from $16.2 billion last year, reflecting sales growth of 3.5 percent combined with a slight decline in other revenue. First quarter sales growth reflected comparable sales growth of 3.0 percent combined with the contribution from non-mature stores. Comparable digital channel sales grew 28 percent and contributed 1.1 percentage points of comparable sales growth. Operating income was $1,041 million in first quarter 2018, down 9.9 percent from $1,155 million in 2017. First quarter operating income margin rate was 6.2 percent, compared with 7.1 percent in 2017. First quarter gross margin rate was 29.8 percent, compared with 30.0 percent in 2017, reflecting pressure from digital fulfillments costs and sales mix, partially offset by the benefit of the Company's cost saving efforts and the net impact of changes to the Company's pricing and promotions. Click Read More below for additional information.
The Postal Regulatory Commission released its Financial Analysis report, an in-depth evaluation of the overall financial position of the United States Postal Service in Fiscal Year (FY) 2022. With this year’s Financial Analysis report, the Commission introduces a fully accessible dashboard with downloadable data that provides a visual snapshot of key components of its analysis, including balance sheet and mail volume trends from 2007 to 2022. The dashboard is located on the Commission’s website, www.prc.gov. The enactment of the Postal Service Reform Act on April 6, 2022, resulted in significant changes to the Postal Service’s retirement obligations by canceling the outstanding $57 billion retiree health benefit liability, the annual payments for the retiree health benefits normal costs, and Retiree Health Benefit Fund amortization payments. In FY 2022, the Postal Service recorded a net operating loss of $0.5 billion, a $2.2 billion improvement over FY 2021. Furthermore, the Postal Service’s operating revenue increased by approximately $1.6 billion compared to FY 2021. This increase in revenue was primarily driven by First-Class Mail and USPS Marketing Mail rate increases. Competitive revenue declined from FY 2021 when package volumes were higher because of the pandemic-related surge in e-commerce, which continues to slow as the economy recovers.
The Bon-Ton Stores, Inc. announced that its comparable store sales for the nine-week holiday period ended December 30, 2017 decreased 2.9%. Total sales for the nine-week November and December period were $720.8 million compared to sales of $752.1 million in the prior year period. The Company's best performing categories over the period were Cosmetics, Children's, Outerwear and Fine Jewelry. Bill Tracy, president and chief executive officer for The Bon-Ton Stores, Inc. said, "The Company's holiday period comparable store sales decrease of 2.9% is an improvement from the comparable store sales decrease of 6.6% reported in the third quarter. We are actively engaged in discussions with our debt holders in an effort to strengthen our capital structure to support the business going forward."