The ASA annual convention and expo starts one week from today—Tuesday, Oct. 9, in Las Vegas. You can’t afford to miss the inspiring keynotes, premier executive education, sold-out expo hall, and more. There’s still time to register online at staffingworld.org.
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.
Volt Information Sciences Provides Update on Business Performance for Fiscal Third Quarter
Volt Information Sciences News Release (10/01/12)
Volt Information Sciences reported selected unaudited financial information for its 2012 fiscal year third quarter and first nine months ended July 29, 2012. The staffing services segment, which accounts for a majority of the company’s total revenue, had approximately $492 million of revenue in the third quarter 2012 compared with approximately $470 million for the same period in 2011, an increase of 4.5%. For the first nine months of 2012, the segment had approximately $1.455 billion of revenue compared with approximately $1.398 billion of revenue in the same period in fiscal 2011, an increase of 4.1%.
The increase for the third quarter and nine-month period was primarily the result of increased contingent staffing and associate vendor employees on assignment and the recognition of previously deferred revenue, net of current period deferrals. In addition, the nine-month period includes increased technology consulting and outsourcing services and solutions revenues.
TEKsystems Acquires Frontline Consulting Services Inc.
TEKsystems News Release (09/30/12)
TEKsystems has reached an agreement to acquire Frontline Consulting Services Inc., a global integration services firm. “Acquiring FCS presents a great opportunity for us to expand our current capabilities. This acquisition is about improving the way both companies deliver value to our customers,” says TEKsystems global services vice president Randy Verdino.
Factories Notch Gains, Bucking Global Slump
Wall Street Journal (10/02/12) Josh Mitchell; Ben Casselman
U.S. manufacturing rebounded in September, expanding for the first time in four months despite uncertainty at home and slumping economies around the globe. The Institute for Supply Management on Monday said its index of factory activity, based on a survey of purchasing managers across the U.S., rose to 51.5 in September from 49.6 in August, the first time since May that the index crossed the 50-point threshold that indicates expansion. Gauges of new orders and employment also inched up, boosting hopes that production and hiring will improve in coming months.
Arizona Fines Prison Health Care Company $10,000
Associated Press (10/01/12)
The Arizona Department of Corrections has fined Wexford Health Sources Inc. $10,000 because one of its nurses caused a hepatitis C scare in August at the Arizona State Prison Complex-Lewis and failed to properly report the problem to officials. The department also sent a letter to the company, calling on it to remedy staffing problems, properly distribute and document drugs given to inmates, and better communicate with the state when problems arise. Wexford has been handling health care for Arizona prisoners since July.
Another Lawsuit in Hepatitis C Outbreak
Patch.com (10/01/12) Jason Claffey
Another lawsuit has been filed in a hepatitis C outbreak that has infected patients at Exeter Hospital in New Hampshire and in Kansas. Prosecutors said the outbreak was caused by medical technician Dave Kwiatkowski, who allegedly spread his hepatitis C to at least 32 patients in Exeter and two in Kansas by injecting himself with their medication to get high. A class-action lawsuit was recently filed by some of the Exeter victims against the hospital and a staffing company that employed Kwiatkowski. Kwiatkowski was a medical technician who was placed at hospitals all over the country. Several law firms representing one of the Kansas victims announced their intention to sue UPMC Presbyterian, a hospital in Pittsburgh where Kwiatkowski worked, and two staffing firms: Maxim Staffing Solutions and Medical Solutions.
Today—What Health Care Reform and New EEOC Guidelines Mean for Your Firm
Today from 2 to 3 p.m. Eastern time, ASA will help you understand the implications of the latest legislative and regulatory issues facing the staffing industry, including health care reform and new government guidelines on the use of criminal background checks. “Staffing Industry Legislative and Regulatory Issues” is a free ASAPro Webinar led by the ASA legal team.
Succeeding in the staffing business means always being one step ahead of the next industry trend, regulatory shift, or legislative change. This free Webinar will help your company prepare for what’s coming next. Register online at americanstaffing.net.
Prepare for Staffing World—ASAPro Webinar Tomorrow
If you’re planning to attend Staffing World 2012—and you should—you can’t miss the free ASAPro Webinar “Make the Most of Your Staffing World Experience.” Get information on logistics, educational programming, networking opportunities, and more. The Webinar takes place Wednesday, Oct. 3, 3–4 p.m. Eastern time.
Get the latest about convention content, including the fact that ASA has expanded the Staffing World session on health care reform—the one hour and 45 minute Immersion Program “Current Developments in Health Care Reform” will be long enough for in-depth discussion and a question-and-answer session.
Register for this Webinar at americanstaffing.net.
California Governor Signs Staffing Firm Wage Reporting Bill
If you’re already a member, please sign in to read more.
Second Circuit Finds That After-Hours Work Is Considered ‘Hours Worked’ for FMLA
If you’re already a member, please sign in to read more.
Leave of Absence: $400,000 Award in FMLA Retaliation Case
If you’re already a member, please sign in to read more.
Looking for a Pay Raise? Better Hope You’re an Accountant
If you’re already a member, please sign in to read more.
Survey: Number of Locum Tenens Hospitalists on the Rise
If you’re already a member, please sign in to read more.