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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.
Yoh Acquires U.K.’s Connections Recruitment Ltd.
MarketWatch (09/05/12)
Yoh, a Day & Zimmermann company, recently completed the acquisition of Connections Recruitment Ltd., a professional staffing services firm located in London. Connections’ experience across Europe expands and strengthens Yoh’s ability to provide staffing and work force solutions to new and existing customers of both companies. Connections will serve as headquarters for Yoh’s United Kingdom and European operations.
Korn/Ferry International Announces First Quarter Fiscal 2013 Results of Operations
Korn/Ferry International News Release (09/05/12)
Korn/Ferry International on Sept. 5 announced first quarter fiscal year 2013 fee revenue decreased 9.5% to $186.7 million, compared with $206.3 million in the same quarter last year, a 6% decline on a constant currency basis. Operating income was $17.0 million in the first quarter of fiscal year 2013, compared with operating income of $25.9 million in the same period in the previous year.
ADP: August Private-Sector Jobs Up 201,000, Well Above Expectations
Fox Business (09/06/12)
Private-sector payrolls rose 201,000 in August, led by small businesses and the service-providing sector, according to the ADP employment report released today. The August number was well above the 145,000 expected by economists. The July level was revised to a gain of 173,000 from a prior estimate of 163,000.
Jobless Claims in U.S. Decrease to Lowest Level in a Month
Bloomberg (09/06/12) Lorraine Woellert
First-time claims for state unemployment benefits declined by the largest amount in more than a month in the latest week, the U.S. Department of Labor reported today. The number of initial claims in the week ending Sept. 1 fell 12,000 to 365,000. The median estimate of 48 economists surveyed by Bloomberg called for a drop to 370,000. Employers are limiting firings as demand warrants holding on to current workers, helping support consumer spending, the biggest part of the economy.
13 Workers at Indiana Fairgrounds Sickened by Fumes, Sent to Hospitals
Indianapolis Star (09/05/12) Jill Disis
On Sept. 4, 13 contract workers at the Indiana State Fair employed by On-Demand Staffing were taken to local hospitals after feeling light-headed while power-washing floors in the fairgrounds’ Exposition Hall. A spokesman for the fairgrounds says 11 gas-fueled machines were in use at the time, and a lack of ventilation along with high humidity levels could be responsible for them falling ill. None of the workers was seriously affected by the fumes, and fair officials are looking into whether they should reduce the number of power washers, discontinue their use altogether, use portable fans, or consider alternative cleaning methods to prevent similar problems in the future.
Staffing Firm Puts Isaac Victims to Work
KREM.com (Washington) (09/05/12) Cole Heath
The staffing firm Command Center is helping Gulf Coast locals clean up Isaac’s mess. The company has hired about 800 people from around New Orleans as temporary employees to help in the cleanup and recovery efforts. Command Center previously assisted residents in Joplin, MO, after a tornado devastated the area, and in the Gulf Coast after the BP PLC oil spill. Dave Wallace of Command Center says that once the storm cleared, it will take about four days for his crews to get into the field. He says he will eventually oversee about 1,200 hires from the Gulf.
Share National Staffing Employee Week Festivities on Social Media
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ASA Quarterly Survey: Track Performance by Company Size
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Certification Group Study Session in Illinois Next Week
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Staffing World 2012 Savings End Tomorrow
Tomorrow is the advance registration deadline for Staffing World, the ASA annual convention and expo. Save up to $150 per person when you register at staffingworld.org by Friday, Sept. 7.
Join ASA and save even more—ASA members enjoy a significant discount on Staffing World 2012 registration fees.
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Patty Tipton Co. Agrees to Settle EEOC Religious Discrimination Lawsuit
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Key Part of Arizona Immigration Law Cleared to Take Effect
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NC Staffing Firm Owner Sentenced to 12 Years in Prison for Payroll Tax Fraud
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Massachusetts Recovers $649,000 Owed to Woburn Bakery Workers
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Survey: Hiring Managers Remain Optimistic in Finding the Perfect Hire
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The Silver-Collar Economy
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