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Weak demand and pricing pressures caused PC Connection’s sales to plummet during the second quarter, the firm said today.

Deluxe Corp., a direct marketer of checks and business forms, reported a drop in revenue but a gain in net income during its second quarter.

American Express Co. will eliminate between 4,000-5,000 jobs in its third quarter, on top of the 1,600 positions it eliminated, or announced its intent to eliminate, earlier this year. The reductions will come through a combination of outsourcing and staff reductions. …

The U.S. Postal Service said that it is $713 million in the red. In its latest financial reports, the USPS reported that mail volume is up but revenue is down for the year, which still has three months to go. …

A bill that could save the U.S. Postal Service from its fiscal crisis –by placing a cap on revenue growth– may be introduced in Congress by Aug. 2.

Computer cataloger PC Mall, Inc., based in Torrance, CA, reported net income of $600,000 for the quarter ended June 30, a $4 million improvement from the net loss of $3.4 million for the same quarter a year earlier.

Emotions play a major role in the state of the American economy, and business leaders with a positive outlook will fair much better in the long term,

Legislative proposals that would allow drug companies to advertise certain medicines direct to consumers as well as speed up approval of new drugs is expected to be unveiled by the European Commission on Wednesday, according to Reuters.

A hiring freeze remains in place at many direct marketing companies with 30% reporting a freeze compared to 21% in March, according to a recent survey.

Online car seller Autobytel.com Inc. has warned of weaker second quarter results citing the unfavorable economic environment that has dried advertising