Published: Wednesday, 06 January 2010 10:05
Newspaper Publishers Revenues Decline in 2008
Newspaper publishers experienced a single-year decline in total revenue of 8.3 percent — from $47.9 billion in 2007 to $43.9 billion in 2008. This followed a more modest decline of 2.7 percent in 2007, the U.S. Census Bureau reported.
A major contributor to the overall loss in revenues for the industry was the decline in advertising space revenue for general newspapers, which dropped 10.2 percent — from $30.9 billion in 2007 to $27.8 billion in 2008. Revenue from newspaper subscriptions remained largely unchanged over the period, from $8.3 billion in 2007 to $8.2 billion in 2008.
These estimates come from the 2008 Service Annual Survey: Information Sector Services. The survey provides national estimates of annual revenue and expenses for industries primarily engaged in producing, processing and distributing data, which range from motion picture production to libraries.
Read more: Newspaper Publishers Revenues Decline in 2008
Published: Wednesday, 06 January 2010 09:39
Written by Evelyn Pyburn
American Steel is seizing upon this moment in time to invest in the future. The Billings fabricator of structural steel sees the current economy as a time to take advantage of reduced costs, low interests rates and market position to prepare for the resurgence when it comes.
“We will probably never see interest rates this low again,” said Paul Neutgens, co-owner of American Steel which is in the process of building a new facility in Lockwood.
“We are very fortunate to be in the position we are in,” said Neutgens, “We are lucky to be located in Billings.” William Kronmiller is Neutgens’ partner in American Steel which began business in 1998.
The company hopes to occupy their new 26,000 square foot facility at 1655 Coulson by March 1. They will move from their current location at 4110 Neibauer Rd. which they lease.
Jones Construction is the general contractor.
The new plant will have two large fabrication bays and a painting bay. With more space, Neutgens said that his company will be able to attain larger projects and produce at a higher level. Floor heat will allow production to continue even when temperatures plunge to 20 degrees below zero.
“Our paint facility is pretty close to being one of the largest in a four or five state region,” said Neutgens. The increased space will allow the company to acquire “bigger, faster, state-of-the-art machines,” which will help in production efficiencies. The facility’s design allows for future expansion as the company grows.
“We are preparing ourselves for the future,” said Neutgens, “You can always be afraid of what is directly in front of you, but you have to look past that. It takes years to develop a plant like this and we are looking five to ten years down the road. I think it is a wonderful opportunity if you are in position to do it, some people are and some people aren’t. It is a brave jump I guess, but we have good return customers and very good employees who we depend upon to find the work and to do it. We have the best team in the western US on board with us.”
Part of American Steel’s finance package in building of the new facility includes a Small Business Administration 504 loan for $1.468 million loan on a 20 year note for the purpose of acquiring the land in Lockwood. The loan has been approved by the Big Sky Economic Development Corporation.
Neutgens said that Lockwood was chosen as a sight because it meets their transportation needs so well, and a number of their employees live in Lockwood. Also, Neutgens said he believes Lockwood is the next boon area of the community.
The company employs 22 people now, and hopes to expand that by six to ten over the next year.
Most of American Steel’s production is exported out of state – almost anywhere west of the Mississippi River. The company sells Ceco Prefabricated Metal Building Packages, as well as commercial and industrial structural steel components, and miscellaneous steel products such as stairs, guardrails, frames, decks and joists.