Command Center Inc. News Release (01/08/13)
Command Center Inc. on Jan. 8 said 2012 fourth quarter revenue of $26.68 million improved 31.7% over revenue of $20.27 million in the fourth quarter of 2011. For the just-concluded fiscal year, Command reported total revenue of $98.43 million, representing a 20.2% increase on revenue of $81.92 million posted in 2011.
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.
TeamHealth Holdings News Release (01/08/13)
TeamHealth has expanded its California presence through the acquisition of the practice of San Francisco Physicians Internationale Inc., the physician group that provides services to the emergency department of San Ramon Regional Medical Center in San Ramon, CA, which cares for approximately 16,000 patients annually. Robert Buehl, MD, president of San Francisco Physicians Internationale, will continue to serve in a leadership role with the firm.
Washington Post (01/09/13) Marjorie Censer
Staffing company Kavaliro is set to announce today that it is acquiring a 58-employee business from Fairfax, VA-based Salient Federal Solutions, giving the Orlando-based company its first office in the Washington, DC, area. The unit produces about $10 million in revenue providing Fannie Mae with support employees. Under the acquisition, Kavaliro will acquire all contractual resources and staff affiliated with the Fannie Mae program. Mark Moore, president of Kavaliro, says his firm hopes to leverage the Salient acquisition to win more staffing work in the Washington area.
“I personally think that staffing … is going to continue to be on the increase,” says Moore. “Companies are going to be hesitant to continue to hire on full-time staff … . They’re going to be looking for help with specific projects and the ability to on-board and off-board based on those projects.”
Associated Press (01/08/13)
A majority of U.S. cities saw unemployment rates decline below 7% in November, according to the U.S. Department of Labor. Rates declined in 215 (58%) of the 372 biggest metro areas, suggesting improvements in the labor market are benefiting most parts of the U.S. Companies added jobs in almost 75% of metro areas in November compared with a year earlier. However, the decline in unemployment rates likely will be reversed in the coming months because temporary seasonal employees are expected to be laid off.
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Online registration is now open for the 2013 ASA Staffing Law Conference, May 7–8 in Washington, DC.
Visit americanstaffing.net/lawconference today for session descriptions, travel and hotel details, and to register for the only program dedicated to the legal and regulatory issues facing staffing firms.
The content lineup for the 2013 ASA Staffing Law Conference agenda includes a critical update and panel discussion on the health care reform law. Check out the session descriptions and register today.
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