PRH Sales Rose 8.5% in 2024, Topping $5 Billion

Retail supply chains are working overtime to keep up as consumers return to normal shopping patterns amid increased vaccination rates. “There’s no shortage of demand from consumers, but there continue to be shortages of labor, equipment and shipping capacity to meet that demand,” said Jonathan Gold, VP for supply chain and customs policy for the National Retail Federation. “Supply chain disruptions, port congestion and rising shipping costs could continue to be challenges through the end of the year.” Supply chains are finding it difficult to keep up with demand as shipping capacity struggles, added Ben Hackett, founder, Hackett Associates, which produces the monthly Global Port Tracker report for the NRF.

The New York Times Company announced today that it has entered into agreements with Massachusetts Mutual Life Insurance Company (MassMutual) to transfer pension benefits and annuity administration for approximately $225 million in pension obligations. The agreements relate to two of the Company’s pension plans, The New York Times Company's Pension Plan and The Retirement Annuity Plan for Craft Employees of The New York Times Company. Under the agreements, these pension plans will purchase group annuity contracts from MassMutual for approximately 3,800 retirees (or their beneficiaries). The group annuity contracts include an irrevocable commitment by MassMutual to make annuity payments to the affected retirees. All other retirees will continue to receive monthly benefit payments from the plans. The agreements will transfer the payment administration and obligations to this highly rated insurance company with a long history of efficiently providing annuity benefits. This arrangement is part of the Company’s continued effort to manage the overall size and volatility of its pension plan obligations, and the administrative costs related thereto. Click Read More below for additional information.

In February 2022, the Postal Service completed its obligations under the National Environmental Policy Act process and issued a Record of Decision to acquire up to 165,000 NGDV, with a commitment for at least 10 percent BEV. This decision was expressly designed to provide the Postal Service the flexibility to acquire significantly more BEV NGDV should financial and operational circumstances permit. Pursuant to this decision, the Postal Service then announced in March 2022 a purchase of 50,000 NGDV from Oshkosh Defense, including 20 percent BEVs. Now, under the new adjusted scope for the Supplemental Environmental Impact Statement (SEIS), the Postal Service proposes to limit its Decision to the 50,000 NGDV already purchased and to raise the minimum NGDV BEV percentage to at least 50 percent.