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In the days of high unemployment, it was almost an unspoken reality that we did not always press our employees to be at the top of their efficiency game. Today, when employees are hard to find, we need to have everyone working at their peak, with appropriate R & R periodically. Today, there is a new trend-- "quiet quitting." I am sure you have heard of it--quiet quitting is just doing what is necessary to get by, in other words, just enough to keep from getting fired. This is a poisonous, demoralizing way of living.

The PM40 closed Friday, 2 September 2022, at 5037.

Get the latest PM40 updates by listening to the weekly Nips show and the PM40 Daily Show on Pulp & Paper Radio International.

The PM40 closed 2 September 2022 up 2.4% from the 3 September 2021 level.

In this issue of Disconnected Comparisons, we evaluate 3M and Sappi.

Reported insider trading since the last issue of PaperMoney.

George W. Mead II, the last local owner of the paper mill in Wisconsin Rapids and one of the 150-plus inductees of the Paper Industry International Hall of Fame in Appleton, Wisconsin, died Friday, July 29, 2022 in Madison, Wisconsin at the age of 94.

The PM40 closed Friday, 12 August 2022, at 5595.

Get the latest PM40 updates by listening to the weekly Nips show and the PM40 Daily Show on Pulp & Paper Radio International.

The PM40 closed 12 August 2022 up 16.3% from the 13 August 2021 level.

In this issue of Disconnected Comparisons, we evaluate Clearwater Paper and Sonoco.

Reported insider trading since the last issue of PaperMoney.

I think it was Ronald Reagan who said, "A recession is when your neighbor loses their job, a depression is when you do." The powers that be tell us the United States is in a recession now--two quarters of declining GDP growth.

The PM40 closed Friday, 29 July 2022, at 5281.

Get the latest PM40 updates by listening to the weekly Nips show and the PM40 Daily Show on Pulp & Paper Radio International.

The PM40 closed 29 July 2022 up 13% from the 30 July 2021 level.

In this issue of Disconnected Comparisons, we evaluate Boise Cascade and Graphic Packaging.

Reported insider trading since the last issue of PaperMoney.

Ladies and gentlemen, the first class of inductees to the Paper Industry International Hall of Fame in Appleton, Wisconsin was inducted more than two decades ago in 1995, and today, more than 150 papermaking innovators and legends have been enshrined. This month, we profile the late Arne J.A. Asplund, Founder, Research & Development, Chairman at Defibrator AB in Stockholm, Sweden, who was posthumously inducted into the Hall of Fame in 2014.

The PM40 closed Friday, 15 July 2022, at 4891.

Get the latest PM40 updates by listening to the weekly Nips show and the PM40 Daily Show on Pulp & Paper Radio International.

The PM40 closed 15 July 2022 up 6.5% from the 16 July 2021 level.

In this issue of Disconnected Comparisons, we evaluate Glatfelter and International Paper.

Reported insider trading since the last issue of PaperMoney.

Fasten your seatbelts, we are in for a rocky ride.

The PM40 closed Friday, 1 July 2022, at 3933.

Get the latest PM40 updates by listening to the weekly Nips show and the PM40 Daily Show on Pulp & Paper Radio International.

The PM40 closed 1 July 2022 down 6.5% from the 2 July 2021 level.

In this issue of Disconnected Comparisons, we evaluate Ennis, Inc and Kimberly-Clark.

Reported insider trading since the last issue of PaperMoney.