October 25, 2012

TrueBlue Reports 2012 Third Quarter Results

Published October 25, 2012 ■ Headline News

TrueBlue News Release (10/24/12)

TrueBlue Inc. reported revenue for the third quarter of 2012 of $379 million, an increase of 2%, compared with revenue of $371 million for the third quarter of 2011. Net income for the quarter was $14.3 million, compared with net income of $13.9 million for the third quarter of 2011.

“TrueBlue achieved revenue and earnings per share growth this quarter, while managing through an increasingly difficult economic environment,” TrueBlue chief executive officer Steve Cooper says. “Demand for labor in manufacturing has declined and growth trends softened across most of the other industries we serve. Our results have also been adversely impacted by the anticipated decline of a large customer project. For the fourth quarter, we anticipate the uncertain economic conditions to continue along with further decline from this project.”

TrueBlue estimates revenue in the range of $332 million to $342 million for the fourth quarter.

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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.

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Randstad Q3 2012 Results

Published October 25, 2012 ■ Headline News

Randstad News Release (10/25/12)

Randstad’s third-quarter results show a 4% increase in revenue to €4,396.8 million, though revenue per working day slipped 3.6%. The company reports ongoing growth in North America, Asia, and Latin America, but economic and labor market uncertainty in Europe led to declines there. Payroll services, managed services, and recruitment process outsourcing posted strong revenue growth. Moreover, the company says operating expenses fell €18 million compared with the previous quarter.

Revenue in North America grew by 4% per working day. Gross margin in North America maintained its momentum and continued to expand, contributing to the 5% growth of the company’s North American gross profit.

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Jobless Claims in U.S. Drop as Seasonal Volatility Winds Down

Published October 25, 2012 ■ Headline News

Bloomberg (10/25/12) Lorraine Woellert; Shobhana Chandra

Jobless claims fell by 23,000 last week to 369,000 from a revised 392,000 the prior period, according to the U.S. Department of Labor. The four-week moving average of jobless claims, a less-volatile measure than the weekly numbers, rose to 368,000 last week from 366,500. Averaged over a number of weeks, the pace of layoffs has scarcely changed, suggesting payroll gains are being curbed by a lack of hiring. Still, the data suggest companies are facing enough demand to maintain staffing levels even amid fears about a slowing global economy.

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Responding to EEOC’s Criminal History Guidance—ASAPro Webinar Next Week

Published October 25, 2012 ■ ASA for You

Has the guidance recently issued by the U.S. Equal Employment Opportunity Commission about employers’ use of candidates’ criminal history left you wondering how to comply? Don’t miss the ASAPro Webinar “How Employers Are Responding to the EEOC’s Criminal History Guidance,” Thursday, Nov. 1, 3–4 p.m. Eastern time. During this program, Gerald L. Maatman Jr., Esq., and Pamela Q. Devata, Esq., of Seyfarth Shaw LLP will tell you what information you should consider when making employment decisions, how staffing companies are following EEOC guidance, and which steps you can take to comply with the regulations.

ASAPro Webinars are free for ASA members and qualify for continuing education hours toward ASA certification renewal. Register online at americanstaffing.net.

Share Your Expertise With Industry Peers

Published October 25, 2012 ■ ASA for You

Can you offer solutions for the challenges that staffing firms face today? The American Staffing Association is now looking for staffing industry professionals to share their experience and expertise through published articles and presentations. ASA is also looking for professionals in business, work force, workplace management, and other disciplines pertinent to the staffing industry.

As a presenter for ASA, you will have the opportunity to reach out to staffing industry professionals and build lasting connections.

The deadline to submit a Staffing World^® 2013 workshop proposal is Dec. 10.

Proposals for ASAPro Webinars or articles for ASA publications are accepted on an ongoing basis. Earlier submissions are given priority.

Do you know of a staffing professional in your company who would be a perfect presenter for ASA? Asking your internal staff to submit a proposal helps show them how important they are as an employee and resource in your company.

For more information and to download submission guidelines, visit americanstaffing.net.