EDI Specialists Inc. News Release (10/02/12)
EDI Specialists announced increased financial results for the first half of 2012. The company saw 10% revenue growth in the first half of 2012 over the first half of 2011. Revenue growth has averaged 17% per year since 2009.
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.
Resources Connection Inc. News Release (10/02/12)
Resources Connection Inc. announced financial results for its fiscal first quarter ended Aug. 25. Total revenue for the first quarter of fiscal 2013 was $136.9 million, down 0.8% (up 1.2% on a constant dollar basis) compared with the prior year’s first quarter revenue and down 5.9% (down 5.3% on a constant dollar basis) on a sequential quarter basis. Revenues in the U.S. were up 4.5% quarter-over-quarter and down 3.6% sequentially due primarily to summer holidays.
The company’s net income for the first quarter was $4.8 million, up from $2.6 million in the fiscal first quarter of 2012. Gross margin was 39.0% in the first quarter of fiscal 2013, up 120 basis points from the first quarter of fiscal 2012 and seasonally down 120 basis points from the fourth quarter of fiscal 2012.
PRNewswire (10/02/12)
EmployBridge has acquired the Nevada-based operations of Hire Dynamics, a staffing firm headquartered in Georgia. EmployBridge operates primarily under the ResourceMFG, ProLogistix, and ProDrivers brands, providing skilled light industrial personnel to three specific industry verticals: specialty manufacturing, warehousing, and logistics and transportation. The company also supports the clerical and administrative markets through its Personnel One brand.
Bloomberg (10/03/12) Alex Kowalski
Companies added 162,000 new workers in September, according to a report released today by ADP Employer Services. The increase follows a revised 189,000 jump in August. The median forecast of 38 economists surveyed by Bloomberg projected a 140,000 advance. The better-than-expected result could be an indication that the labor market is perking up. The hiring gains were led by companies with fewer than 500 workers.
Labor Notes (10/12) Micah Uetricht
Walmart workers in Elwood, IL, are on strike, and Monday 600 supporters increased pressure on the retailer with a march and civil disobedience that shut down the most significant hub in the company’s U.S. supply chain. Many workers at the warehouse were hired through a temporary staffing firm. Approximately 70% of Chicago-area warehouse workers are temporary employees. Critics say the workers are entrenched in a “perma-temporary” system that results in people working for years without ever being permanently hired.
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If you’re planning to attend Staffing World 2012, the ASA annual convention and expo—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 this afternoon from 3 to 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—at one hour and 45 minutes, the Immersion Program “Current Developments in Health Care Reform” will be long enough for in-depth discussion and a question-and-answer session.
This Webinar is free for ASA members and nonmembers. Register online at americanstaffing.net.
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