July 25, 2014

IRS Publishes Draft ACA Employer Reporting Forms

Published July 25, 2014 ■ Announcement

Late yesterday, after many months of delay, the U.S. Internal Revenue Service published draft reporting forms that the Affordable Care Act requires employers and insurers to submit annually under IRS Code sections 6055 and 6056. The forms will be used to report employer-provided health insurance offer and coverage information to the IRS and employees.

Detailed instructions for completing the forms are not expected until the end of August. The Obama administration has invited comments on the draft forms. Comments should be made as soon as possible, although no deadline was set. The Employers for Flexibility in Health Care (E-Flex) coalition and ASA benefits working group will review the drafts and submit comments as appropriate.

Ortoli | Rosenstadt: What Exactly Is a Seller Responsible for When Selling Its Staffing Firm?

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.

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Elwood Staffing Acquires Encore Staffing, Expands Geographical Reach

Published July 25, 2014 ■ Headline News

Elwood Staffing News Release (07/24/2014)

Elwood Staffing has purchased the assets of Encore Staffing Services, the commercial staffing division of Spencer Reed Group LLC. The acquisition includes 12 Encore branch offices. This transaction expands Elwood’s service footprint into Missouri and Kansas and further broadens its presence in California, Colorado, Texas, Arizona, and Pennsylvania.

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Orders for U.S. Capital Goods in June Rose After Revised May Drop

Published July 25, 2014 ■ Headline News

Bloomberg (07/25/14) Jeanna Smialek

Orders for U.S. business equipment increased in June following a revised decline in May, suggesting that corporate investment is in a “stop-and-go” pattern that could temper economic expansion. Bookings for nonmilitary capital goods excluding aircraft rose 1.4% after a 1.2% decline in the prior month, according to the U.S. Department of Commerce. Demand for all durable goods rose 0.7%. The 82 economists surveyed by Bloomberg forecast that total durable goods orders would increase 0.5%.

Companies are waiting to boost capacity until they believe demand can be sustained. “We’ve seen that businesses have been a bit more willing to increase their workforce this year, but capital investment decisions are based on longer-term expectations for final demand, and I think that businesses are probably going to remain cautious for now,” says Ryan Wang, an economist at HSBC Securities USA Inc.

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Growth in Manufacturing Activity Edged Higher in Central and Western U.S.

Published July 25, 2014 ■ Headline News

Federal Reserve Bank of Kansas City (07/24/14)

Growth in manufacturing activity edged higher in July in parts of the central and western U.S., and producers’ optimism for future activity increased. Firms continued to note difficulties with retaining certain types of workers, particularly machinists and welders.

The month-to-month composite index rose to 9 in July, up from 6 in June. The growth in manufacturing activity occurred mostly at durable goods-producing plants, particularly machinery products, while nondurable goods-producers reported fairly flat activity.

The future employment index rose from 14 to 23, its highest level in six months, and the future employee workweek index neared a five-year high.

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One Week Left to Nominate the Next National Staffing Employee of the YearM

Published July 25, 2014 ■ ASA for You

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ASA Quarterly Staffing Employment and Sales Survey Now Open

Published July 25, 2014 ■ ASA for You

The association’s quarterly Staffing Employment and Sales Survey for the second quarter of 2014 is now open. Share your firm’s data with ASA so you can get the staffing industry information you’re looking for—participate in this survey by Aug. 20. Staffing firms that complete the seven-question survey will receive an exclusive report on the results—now enhanced with new graphs, including representations of sector-level data.

The data collected by this survey, which is sponsored by ASA research partner CareerBuilder, will enable ASA to track staffing sales and gross margin trends. To register to take the survey, or view a PDF version of the questionnaire, go to americanstaffing.net. There are no fees to participate.