Robert Johnson

By Caroline Miller It has been a tough year for the financial printing industry. The economy was already shaky when the September 11, 2001, terrorist attacks hit the World Trade Towers—America's financial epicenter. Investment banking, securities law and financial services are in shambles. Even so, most hoped to see that much needed and much talked about recovery in 2002. But, instead, the year has been mired in corporate accounting scandals, a never-ending bear market, the threat of war and the virtual standstill for M&A deals and IPOs. As a result, financial printers have had to reduce their work forces, streamline their operations and look

BOCA RATON, FL—The recent PIA/GATF Graphic Arts Industry Summit drew 225 paid attendees to hear merger and acquisition strategies and case studies, and to honor industry leaders. Though the conference theme of "Buy, Sell, Merge, Grow" was directed toward the attendees, Ray Roper, PIA's president, and George Ryan, GATF's president, were paying close attention and taking their own notes. The consolidation of their organizations continues. Formal discussions were begun last November by the management and boards of both the PIA and GATF. The two organizations may join together, but the term "merger" is inappropriate. GATF is classified as a 501-C-3 educational foundation, and PIA