It's beginning to look a lot like crisis—for a major portion of our commercial printing industry. The printing trade associations are struggling, merging to survive. Printcafe had an IPO (Initial Public Offering) in mid-2002 at $10 per share that, at this writing, now hovers at slightly more than $1 a share. That group, formed during the dotcom frenzy, is a kind of conglomerate or trade association of four or five printing MIS (Management Information System) suppliers. Those suppliers provide the computer data model for several thousand printing companies. A few weeks back I visited with a major Rocky Mountain area printer. "Rog, in all

"Roger, what would it cost Republic a month if we just locked the doors on your plant? Call me back at 2 p.m. with the number." Sandy Sigoloff, then-president of Republic Corp., owner of Mid-America Webpress in Lincoln, NE, in the early '70s, was not well known for subtlety and diplomacy. Promptly at 2 p.m. I called back. "Sandy, if we locked the plant it would cost Republic $250,000 a month for interest, taxes, loan amortization, insurance and security services. Want the details?" "No, Rog," he said. "How much are you losing now?" "About $100,000 a month," I told him. "Okay. Hang

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