Bankrupt printer Standard Register is seeking an extension for the formal filing of its Chapter 11 plan. The company filed a motion in U.S. Bankruptcy Court for the District of Delaware, seeking an additional 90 days to file its plan.
A convicted Minnesota swindler was charged in California with a $21 million Ponzi scheme that fleeced 55 investors, Orange County prosecutors said Tuesday. Gerard Cellette, 48, a former Anoka County, Minn., resident, was extradited to California this week to face arraignment Wednesday on 116 felony counts.
Cellette is accused of soliciting investments in a phony commercial printing company that he claimed had lucrative contracts with various major corporations. He made promises of 10-15 percent returns on investments and provided falsified contracts to back up his claims.
The money he took in was allegedly spent on luxury cars, trips on private jets and
Directory of the Printing Industries of America affiliates, including addresses, telephone numbers, Website URLs and key contacts.
MIAMISBURG, OH—NewPage Corp. announced that it plans to take approximately 150,000 tons of market-related downtime on its paper machines at various mill locations during the second quarter of 2009. The move was based on estimates of market demand and inventory levels. Specific operating and curtailment plans, as well as timing, will be developed across NewPage mills to best satisfy customer commitments.
Japs Olson Co., which operates a 512,000 sq. ft. state-of-the-art printing and mailing facility, is a charter member of the PIM (Printing Industry of Minnesota) Great Printer Environmental Initiative. The program demonstrates a commitment to go beyond what is required by government regulatory agencies in environmental, health and safety compliance.
Minnesota legislators hope to close a loophole they say is hurting the state’s printing companies. Ten days ago, Brown Printing announced plans to trim 8 percent from its workforce at all three of its U.S. plants. In Waseca, where approximately 1,000 people are employed, layoffs are expected to be in the range of 80 to 100 employees over the next few weeks, according to Harry Popiel, Vice President Human Resources.