Wall Street Journal (06/29/12) Anna Wilde Mathews
The U.S. Supreme Court’s decision to uphold most of the health care law means companies need to prepare for the law’s implementation over the next two years. Many companies said the ruling won’t change their plans for providing insurance coverage to their employees. However, some companies, especially low-wage businesses such as retailers and restaurants, say absorbing the associated costs of the legislation could put a damper on hiring.
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.
Associated Press (06/28/12)
The latest economic data suggest June has been another weak month for hiring. Applications for unemployment benefits last week stayed above a level that is generally considered too high to lower the unemployment rate. The annual growth rate for the U.S. economy in the January-March quarter was a tepid 1.9%, a rate of growth that typically generates about 90,000 jobs a month. Most economists do not see growth accelerating much from the first-quarter pace, although some are hopeful that lower gas prices could help lift consumer spending over the summer.
Economists are predicting that 100,000 jobs were added in June and the unemployment rate did not change, according to a survey by FactSet. “Jobless claims are still too high and show that employment growth is slowing and no progress is being made,” says Jennifer Lee, an economist at BMO Capital Markets.
Bloomberg BusinessWeek (06/28/12) Angela K. Brown
Lockheed Martin machinists have ended their 10-week strike. Members of the International Association of Machinists and Aerospace Workers District Lodge 776 voted to approve a new labor deal that includes annual pay raises beginning at 3% the first year. In May, the company began hiring about 500 temporary employees at its Fort Worth plant, which manufactures F-35 stealth fighter jets. The temporary workers will be let go by Monday, when union members return to work, says Lockheed spokesperson Joe Stout.
WAVE-TV 3 (Kentucky) (06/28/12) Joey Brown
The U.S. Occupational Safety and Health Administration has rolled out a mobile phone app that allows workers and supervisors to calculate a work site’s heat index and determine the risk level for outdoor workers. To protect employees from heat-related illnesses, the OSHA Heat Safety Tool also displays reminders about the protective measures that should be taken based on the risk level.
ASA membership offers an impressive list of benefits—which is why so many industry professionals turn to ASA for valuable resources and educational opportunities.
Why should you join ASA today? ASA provides free live ASAPro Webinars and more than 150 free courses for your entire staff—and ASAPro Webinars qualify for continuing education hours toward ASA certification renewal.
Don’t miss the July 12 Webinar on the implications of the U.S. Supreme Court’s ruling on the Patient Protection and Affordable Care Act. Join ASA today.
For additional information, contact ASA at 703-253-2020 or asa@americanstaffing.net.
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