Bloomberg (02/02/12) Bob Willis
U.S. jobless claims dropped by 12,000 to a seasonally adjusted 367,000 in the week ended Jan. 28, the U.S. Department of Labor said Thursday. The median forecast of 46 economists in a Bloomberg News survey projected 371,000. The four-week average of claims fell by 2,000 to 375,750. Companies are slowing the pace of firing as the U.S. economy picks up, a necessary step toward bigger gains in employment.
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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