Eastern Iowa Gazette (06/08/12)
QPS Employment Group of Brookfield, WI, has agreed to acquire Cambridge Staffing Inc. of Cedar Rapids, IA, its second recent acquisition in the Cedar Rapids market. Terms of the sale were not disclosed. Jim Roy, regional vice president of QPS, says the Cedar Rapids market, with its strong industrial base, “fits perfectly into the kind of business we supply with its manufacturing and distribution base.”
Buyers of a business generally expect sellers to be responsible for certain liabilities relating to when the seller owned its business—a concept mergers and acquisitions professionals refer to as indemnification. Indemnification is one of the most heavily negotiated, and potentially most significant, provisions of a purchase agreement, and understanding the terminology common to such agreements is essential when negotiating a deal. Attorney Paul Pincus of Ortoli Rosenstadt LLP explains what sellers are liable for, how a seller’s liability may be limited, and how buyers may seek to fund potential indemnity claims.
Michigan Business Review (06/08/12) Shandra Martinez
Grand Rapids, MI-based Beacon Staffing has been acquired by Columbus, IN-based Elwood Staffing for an undisclosed amount. With the acquisition of the Beacon Staffing offices, Elwood Staffing will have more than 65 offices in 11 states nationwide with 350 corporate employees, and annually place more than 45,000 temporary workers. “Elwood and Beacon share many of the same values,” says Elwood chief executive officer Mark Elwood. “We believe this partnership will enhance the employment experience for both our clients and our associates, and we are excited to strengthen our existing branch network in Michigan.”
Chicago Sun-Times (06/09/12) Francine Knowles
Chicago area staffing companies report they have seen large increases in business this year despite the recent May national unemployment report showing disappointingly weak overall job growth. The LaSalle Network, based in Chicago, says it saw a 55% jump in revenues in May from a year earlier, and business is up 47% for the first five months of this year, compared with the same time in 2011.
“We are extremely busy,” says Anne Edmunds, regional director of ManpowerGroup in Chicago. “We’re up about 25% over [the] prior year in staffing requirements. We had a big bounce in January, February, slowed down a little bit in April, and then we saw a huge increase at the beginning of May. It seems to be continuing at the start of June. Most of these temporary positions that we’re seeing are six months in length or better. It’s not like it’s short-term one week, a few days.”
If you prefer interactive learning strategies, the new ASA Certification Prep & Practice Tool Kit is just what you need. Staffing professionals who are preparing for the ASA Certified Staffing Professional™ or Technical Services Certified™ exam now have access to this engaging, multimedia learning resource—designed to complement the materials that are included in the current certification exam package.
The ASA Certification Prep & Practice Tool Kit features four modules with corresponding recordings and instructional slides that cover the main areas of the certification exams. Learn more about the new tool kit and listen to sample recordings at americanstaffing.net, where you can also purchase this interactive resource for individual or group study.
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