Shout-Outs to Publishers Giving Back to Their Communities (foliomag.com)

The U.S. Postal Service filed notice with the Postal Regulatory Commission (PRC) today of price changes for Shipping Services to take effect Jan. 9, 2022. The proposed prices, approved by the Postal Service Governors, would raise Shipping Services product prices approximately 3.1 percent for Priority Mail service, and 3.1 percent for Priority Mail Express service. Shipping Services price adjustments vary by product. Although Mailing Services price increases are based on the consumer price index, Shipping Services prices are primarily adjusted according to market conditions. The Governors believe these new rates will keep the Postal Service competitive while providing the agency with needed revenue. If favorably reviewed by the PRC, the new prices will include an increase in the price of a Small Flat-Rate Box to $9.45. The Medium Flat-Rate Box would increase to $16.10, the Large Flat-Rate Box would decrease to $21.50 and the price of the APO/FPO Large Flat-Rate Box would decrease to $20.00. Regular Flat-Rate Envelopes, Legal Flat-Rate Envelopes, and Padded Flat-Rate Envelopes would increase to $8.95, $9.25, and $9.65 respectively.

Second Quarter Highlights: • Total loans grew $6.1 billion (8%) from the prior year to $78.0 billion. • Credit card loans grew $4.6 billion (8%) to $61.8 billion and Discover card sales volume increased 5% from the prior year. • Total net charge-off rate excluding PCI loans increased 52 basis points from the prior year to 2.79% and the total delinquency rate over 30 days past due excluding PCI loans increased 33 basis points from the prior year to 1.93%. • Consumer deposits grew $3.6 billion (11%) from the prior year to $37.7 billion. Click Read More below for additional details.

Wiley announced the departure of Brian Napack as President and Chief Executive Officer and the appointment of Matthew Kissner as Interim CEO, effective immediately. Mr. Kissner previously served as Wiley’s Group Executive and Board Chair, as well as Interim CEO from May to December 2017. Wiley will be rescheduling its planned October 12 Investor Day for a later date to be determined. In June, Mr. Napack and Wiley’s executive leadership announced a value creation plan that includes intensifying focus on Wiley’s strongest and most profitable businesses, divesting non-core assets, and rightsizing and streamlining the Company. Mr. Kissner will leverage his in-depth knowledge of Wiley’s operations and his professional experience to execute this plan and ensure a smooth transition. As previously disclosed, Fiscal 2024 is a transition year for the Company with the benefits of the value creation plan expected to be realized in fiscal year 2025 and 2026.