JCPenney Restructuring Plan to Create PropCos Confirmed by Court

Consistent with the rest of the shipping industry, USPS experienced delays in both ground and air transportation during the month of February due to inclement weather events including winter storms in the Midwest, South and Northeast regions. The Postal Service continues to implement mitigation plans to move mail and packages effectively across the nation. Additional second quarter service performance scores covering Jan.1 through Feb. 25 included: *First-Class Mail: 86.6 percent of First-Class Mail delivered on time against the USPS service standard, a decrease of 2.5 percentage points from the fiscal first quarter. *Marketing Mail: 91.4 percent of Marketing Mail delivered on time against the USPS service standard, a decrease of .8 percentage point from the fiscal first quarter. *Periodicals: 80.3 percent of Periodicals delivered on time against the USPS service standard, a decrease of .5 percentage point from the fiscal first quarter.

Seattle-based Sasquatch Books has been acquired by Penguin Random House for an undisclosed price. The publisher, which has a backlist of approximately 250 titles and publishes in a range of areas, was one of PW’s fast-growing independent publishers of 2016. Sasquatch has been a distribution client of Penguin Random House Publisher Services for five years. In a move to maintain the company’s editorial independence, rather than make the company part of one of PRH's publishing divisions, PRHPS president Jeff Abraham will oversee Sasquatch. Commenting on the purchase, Abraham said that when he learned Sasquatch was looking for a buyer, the prospect of acquiring the company was "enormously appealing to both sides.” Click Read More below for more of the story.

The U.S Postal Service (USPS) and U.S. Postal Inspection Service (Inspection Service) provided an update on their Project Safe Delivery campaign to crack down on postal crimes, including attacks against postal employees. Announced in May 2023, Project Safe Delivery is a USPS initiative to combat the recent rise in threats and attacks on letter carriers and mail theft incidents by protecting Postal employees and the security of the nation’s mail and packages. Multiple departments within USPS, including the Inspection Service, the Office of the Chief Information Officer, and the Office of the Chief Retail and Delivery Officer are working together to support the ongoing campaign. To help strengthen this effort, the Inspection Service has also significantly increased monetary rewards for information leading to the arrest or conviction of a perpetrator of postal crimes. “As our nation continues to address a sustained crime wave, our targeted focus to crack down on postal crime is progressing,” said Postmaster General and Chief Executive Officer Louis DeJoy. “The safety of our letter carriers — and all postal employees — is our top priority. We will continue to work steadfastly with our law enforcement partners to increase the safety of our employees and protect the sanctity of the nation’s mail.”