San Antonio Business Journal (03/14/13) James Aldridge
San Antonio, TX-based V.I.P. Staffing has acquired Employer Flexible’s commercial staffing unit in Houston for an undisclosed amount. The acquisition will double V.I.P. Staffing’s size in the Houston area and expand the firm’s niche in employment staffing for the oil and gas industry.
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.
Reuters (03/14/13) Lucia Mutikani
The number of people applying for new U.S. unemployment benefits fell by 10,000 to 332,000 in the week ended March 9, the U.S. Department of Labor reported today, marking the second lowest level in five years and indicating that the labor market continues to improve. Economists polled by Reuters had expected first-time applications for jobless aid to rise to 350,000. The average of new claims over the past month declined by 2,750 to 346,750—the lowest level in five years—suggesting a firming in underlying labor market conditions.
Information, Inc. (03/14/13)
Yesterday’s issue of Staffing Today included an erroneous report about an acquisition. Correction: Brookfield, WI-based Tactical Workforce Solutions Inc. was acquired by Florida workforce solutions company STS Holdings, the parent company of STS Aviation Group, in October 2012. Tactical Workforce Solutions is changing its name to STS Technical Services this week.
STS Aviation Group is a diversified company that specializes in support services for the aerospace industry through its four divisions: STS AeroStaff Services, STS Engineering Solutions, STS Line Maintenance, and STS Component Solutions. Founded in 1985, the company provides aircraft technician staffing services, engineering and departure end of runway (DER) support service, aircraft component and supply chain management, and line maintenance services for on-the-ground aircraft. According to STS Technical Services president Rick Koenig, STS Aviation Group has more than quadrupled its size since inception and has expectations of continuing growth to meet the ever-increasing needs of the aerospace industry.
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Is your company prepared to receive a Notice of Inspection from U.S. Immigration and Customs Enforcement? Learn what to do during the ASAPro Webinar “Be Prepared for Immigration and Customs Enforcement Investigations,” 3–4 p.m. Eastern time today. Helen L. Konrad, Esq., of McCandlish Holton PC will share details about the new Form I-9 and explain how to prepare for investigation by ICE.
This webinar is free for ASA members and qualifies for continuing education hours toward ASA certification renewal. To learn more and to register, visit americanstaffing.net.
Does your firm or chapter have a corporate social responsibility success story? It’s not too early to start preparing your entry for the 2013 ASA Care Awards. And now it’s free to submit an entry to the award program.
The awards recognize outstanding corporate social responsibility initiatives—business processes that produce an overall positive effect on society—among ASA member companies, associate members, and affiliated chapters. Any CSR initiative that is currently active is eligible for submission. Winners will be honored during Staffing World® 2013, Oct. 8–10 in Orlando, FL, and will be featured in ASA publications.
Visit americanstaffing.net for more information about the ASA Care Awards and to download the 2013 entry form.
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