The Death of Print - 12,000 Layoffs And Counting

"Print is Dead" - Dr. Egon Spengler, New York City, 1984

It has been a long time coming, and in my opinion, will never happen, but the move toward a 'Paperless Society' is plodding along.

According to preliminary figures released this week by the Audit Bureau of Circulations, circulation for 507 daily US newspapers fell 4.64 percent in the six months to September to 38.16 million copies.

Where are all the readers going?

And Toshiba Continues...Irvine is a Long Way From Memphis

Collins Distributing Company Now Designated as a National Distributor for Toshiba America Business Solutions

Originally walking in Memphis, seems the siren call of the "Best Coast" has lured yet another 'easterner' out here.

From the article:


IRVINE, Calif., Oct 21, 2008 (BUSINESS WIRE) -- Toshiba America Business Solutions Inc. (TABS) today announced that Collins Distributing Company (CDC) of Memphis, Tenn. is now an authorized national distributor of Toshiba copiers, facsimiles and multifunction printing products (MFPs). For nearly 40 years, CDC has served dealers nationwide and has been an authorized Toshiba distributor in the Southeast since 1999, selling more than 1,500 Toshiba units annually. To help provide greater service coverage, CDC recently opened a new office supporting West Coast operations. CDC's newly inaugurated Toshiba National Distributor status will provide TABS an even stronger presence in this competitive market...

About Collins Distributing Company

Founded in 1971, Collins Distributing Company (CDC) is an office equipment wholesaler headquartered in Memphis, Tenn. CDC focuses on selling digital imaging equipment such as copiers, multifunction products (MFPs), parts and genuine supplies exclusively to office equipment dealers across the nation. CDC offers a full line of stocked Toshiba hardware products, onsite parts and supplies, flexible credit terms, and installation and technical support, both before and post product deployment. CDC's central U.S. location in Memphis, near FedEx headquarters, makes it a prime location for quick, efficient delivery of product, reducing the need for dealers to stock and maintain inventory. CDC's annual revenue is approximately $25 million.

Canon cuts forecast

1st profit fall in 9 yrs

TOKYO, Oct 27 (Reuters) - Japan's Canon Inc (7751.T: Quote, Profile, Research, Stock Buzz) posted a 26 percent drop in quarterly operating profit and cut its annual outlook, predicting its first fall in nine years as the global downturn drives up the yen and hurts copier and camera sales.

The yen on Monday traded much firmer against the euro and the dollar than Canon's assumptions for October-December, raising concern that the company may miss its latest 2008 outlook and head into another year of profit declines next year.

Canon's downward revision, its second for the year, was widely expected after Sony Corp (6758.T: Quote, Profile, Research, Stock Buzz) last week lowered its annual operating profit forecast by 57 percent, citing a stronger yen and slower sales of flat TVs and digital cameras.

Canon is the world's largest digital camera maker ahead of Sony and Nikon Corp (7731.T: Quote, Profile, Research, Stock Buzz).

"The economic slowdown we are facing is something that comes along once in 50 years or once a century. It is beyond what any one single company can deal with on its own," Canon Managing Director Masahiro Osawa told a group of reporters.

"Our basic stance now is we hone our corporate strength, so we will be running ahead of competition when the economic recovery comes."

Canon cut its operating profit forecast for 2008 by a quarter to 580 billion yen ($6.18 billion), down from 756.67 billion yen a year earlier and below the market consensus of 693 billion yen from 19 analysts polled by Reuters Estimates.

YEN CLOUDS 2009 OUTLOOK

The supplier of IXY and EOS brand digital cameras is assuming euro/yen exchange rate of 135 yen for the last three months this year, and a dollar/yen rate of 100 yen.

In comparison, the euro traded around 115 yen and the dollar at about 93 yen on Monday.

"With the euro at 115 yen now, I'm afraid their forecasts do not make much sense any more," Mizuho Securities analyst Ryosuke Katsura said.

If exchange rates stay at current levels next year and Canon's local currency-based sales are unchanged from 2008, its operating profit would fall by about 40 percent from this year to around 350 billion yen in 2009, Katsura said.

Preliminary Injunction Hearing on the Sale of Ikon Office Solutions, Inc. to Ricoh Company, Ltd.

NEW YORK, Oct 23, 2008 (GlobeNewswire via COMTEX) -- The Brualdi Law Firm, P.C. announces a preliminary injunction hearing has been scheduled for Monday, October 27, 2008

The class action lawsuit was filed on September 23, 2008. The Complaint alleges that the proposed sale of Ikon to Ricoh protects the interests of Ikon's directors and Ricoh at the expense of Ikon's public shareholders. The Complaint also alleges that the directors concealed material information from plaintiff and Ricoh's other public shareholders in conjunction with the same.

HP IPG Re-Org

Leaner and Meaner?

I ran across this quick article about the IPG reorg.

As I have mentioned, there a lots of new faces. Faces from all over the world, current HP folks, who are now going to create "something from nothing" - a Value Added Printing channel. (wow)

All part of the Plan - “a printer company to a printing company,” according to IPG chief Vyomesh Joshi.

We are waiting for the year to end (October) to see what new "goodies" are waiting for "those who stayed..."

HP - Above the Fray...

HP Layoffs -

Selling and U of M Football