Memphis, Tennessee

Elise Hacking Carr is editor-in-chief/content director for Print+Promo magazine.

In the long, painful story of the paper industry's transformation, the news this month that NewPage Holdings had been sold to Memphis, Tennessee-based Verso Paper counts as a positive development.

On the other hand, the news Saturday that the activist hedge fund that pressured Wausau Paper into selling its mills in Mosinee and Rhinelander now wants the company out of Wisconsin underscores the difficult, sometimes wrenching transition paper makers are still undergoing here.

FedEx Corp., the world's largest cargo airline, will pay $21.5 million to settle a lawsuit over claims that it overcharged customers by billing for deliveries to businesses and governments at higher residential rates.

The settlement was filed July 26 in federal court in Memphis, Tennessee. A hearing on preliminary court approval was set for Aug. 1.

The settlement covers a class of 200,000 customers, according to the filing.

FedEx was accused in the 2011 complaint of overcharging commercial and government customers as much as $3 each for tens of thousands of packages delivered.

For the fifth consecutive year, Memphis, Tennessee-based International Paper was recognized by The Ethisphere Institute as one of the World’s Most Ethical Companies. The designation recognizes companies that go beyond making statements about doing business “ethically” and instead, translate those words into action. According to the Institute, honorees demonstrate real and sustained ethical leadership within their industries, putting into business practice the Institute’s credo of “Good. Smart. Business. Profit.”

Memphis, Tennessee-based Verso Paper Corp. announced its release of “A Renewable Commitment – Sustainability Report 2009.” The report shares Verso’s continued commitment to valuing the principle of sustainably balancing environmental, social and economic needs.

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