August 10, 2009
"As you mull over the lastest West invoice" ... Thomson Reuters 2Q Profits More Than Doubled
On Legal Research Plus, Erika Wayne, Stanford's Deputy Law Library Director, suggests some reading material "as you mull over the latest West invoice," The Age's August 7th financial news story, Thomson Reuters profit doubles on cost cuts, a story published around the time West's Message on AALL Sponsorship Policy explaining why the Company refuses to participate in AALL's Price Index hit AALL listservs. The Age story reports that the Company's "second-quarter profit more than doubled, fueled by cost savings from the deal and demand for the Westlaw legal service" with "revenue in the professional division, including legal and tax products, gain[ing] 4 per cent.” The story adds "[n]et income advanced to $US315 million, or 38 cents a share, from $US150 million, or 19 cents, a year earlier, New York-based Thomson said today in a statement. Earnings excluding some items rose to 58 cents a share, compared with the 44-cent average estimate in a Bloomberg survey.
All this probably contributes to why Thomson Reuters does not make the Good Guys List, "publishers and vendors who are listening — publishers and vendors who aren’t raising their prices, or offering new flexibility and services in this trying time" by Legal Research Plus. See also LLB's Updated: Did AALL Refuse Thomson-West Sponsorship Cash for the Annual Meeting? Yes. which includes as a comment AALL's recent law-lib listserv statement on this matter. [JH]
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