July 3, 2008 A.T. Clayton News

Economic News

ISM Index Falls to 48.2, Jobless Claims Drop by 62,000
The Institute of Supply Management said that its service sector index fell to 48.2 in June from 51.7 in May. A reading below 50 indicates contraction in the sector. Economists had expected the index to edge down to a reading of 51.0. In other economic news, the Labor Department reported that jobless claims fell by 62,000 to 404,000 from the previous week. The unemployment rate held steady at 5.5% in June after rising sharply in May.

Supply News

Total US Printing/Writing Paper Shipments Down 7.8%
U.S. printing and writing paper shipments for all grades were down 7.8% in May compared to the prior year, according to the American Forest & Paper Association (AF&PA). Coated freesheet shipments fell 3.4% to 373,000 tons from a year earlier and coated mechanical shipments dropped 8.8% to 337,000 tons year-over-year.

Demand News

Hearst to Discontinue Publishing Quick & Simple
Hearst Magazines said it is closing its weekly title Quick & Simple effective with its July 29 issue, which is currently on newsstands. The woman’s lifestyle, cooking, shelter and craft magazine debuted in 2005. The brands Web site, which was recently redesigned by Hearst Digital Media, will continue to operate. In the second half of 2007, the magazine’s total paid circulation was 325,047, according to the Audit Bureau of Circulations.

Meredith Names Publishing VP for More, ReadyMade
Meredith Corp. has named Lauren Stanich to the new position of senior vice president in the publishing group. Effective July 21, she will oversee the business, marketing and editorial divisions of More and ReadyMade magazines. Previously, Stanich was president of publishing at Martha Stewart Living Omnimedia, where she was responsible for business, marketing, circulation and editorial operations.