NASDAQ (10/11/12)
TSR Inc. on Oct. 11 announced financial results for the fiscal first quarter ended Aug. 31. Revenue decreased 0.7% from the same quarter last year to $11.3 million. Net income (loss) attributable to TSR decreased from income of $47,000 in the prior-year quarter to a loss of $93,000 in the current quarter due to hiring for growth.
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.
Wall Street Journal (10/12/12) Phil Izzo
Economists in the latest Wall Street Journal forecasting survey do not expect the unemployment rate to decline much from its present 7.8% level between now and June 2013. “The general trend in the unemployment rate is lower, and this should continue to be true as long as the economy grows along the profile we project,” says Joseph LaVorgna at Deutsche Bank. “However, the cumulative five-tenths decline over the past two months appears to be overdone.” The reason for the predicted stagnation in the job market is expectations for lackluster economic growth during the rest of 2012 and into 2013. Through the first half of next year, the average forecast is for growth in gross domestic product below 2% at a seasonally adjusted annual rate.
The manufacturing industry is facing a critical talent shortage—what can staffing firms do to shift this trend? Gardner Carrick, vice president of strategic initiatives at the Manufacturing Institute, will tell you during the ASAPro Webinar “Recruiting for the Manufacturing Industry,” Tuesday, Oct. 30, 3–4 p.m. Eastern time. Learn what factors are contributing to the talent shortage, how the lack of qualified applicants affects the U.S. economy, and how the staffing industry can support efforts to bolster the talent pool.
ASAPro Webinars are free for ASA members and qualify for continuing education hours toward ASA certification renewal. Register online at americanstaffing.net.
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