Bloomberg (05/23/13) Jeanna Smialek
The number of people who applied for unemployment benefits last week decreased, a sign that the job market is gaining. Jobless claims dropped 23,000 to 340,000 in the week ended May 18, according to the U.S. Department of Labor. Economists surveyed by Bloomberg had forecast a drop to 345,000. The four-week moving average of new jobless claims dropped to 339,500 last week from 340,000.
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.
U.S. Bureau of Labor Statistics (05/22/13)
The U.S. Bureau of Labor Statistics says 1,199 mass layoffs involving 116,849 workers occurred in April, down by 138 and 11,090, respectively, from March. Around 22% of the mass layoff events and associated initial claims for unemployment insurance benefits were in the manufacturing sector. The largest number of initial claims related to mass layoffs was recorded in the West, and by state, California, New York, Pennsylvania, and North Carolina topped the list. However, 31 states and 14 of the 19 major industry sectors registered year-over-year declines in average weekly initial claims.
Albuquerque Journal (05/23/13) Kevin Robinson-Avila
Net Medical Xpress Solutions Inc., which provides telemedicine services for hospitals and clinics, will acquire MedTel Solutions LLC, an Alabama telemedicine staffing firm, to streamline the recruitment of physicians. The acquisition price and other details remain confidential until the deal closes at the end of May. The merger is expected to help Net Medical expand its customer base and offer primary care telemedicine.
Don’t miss today’s ASAPro webinar “Protecting and Collecting Your Direct Placement Fees,” from 3 to 4 p.m. Eastern time. Attorney Mike Rode will teach you how to create enforceable recruiting agreements with your clients in this webinar, which will expand on key issues discussed in the 2013 Staffing Law Conference session “Direct-Hire Contracts—Collecting the Fee.”
It’s an excellent primer for recruiting and search consultants who plan to earn the new Certified Search ConsultantSM credential.
ASAPro webinars are $295 for nonmembers and qualify for continuing education hours toward ASA certification renewal. Join ASA and enjoy ASAPro webinars for FREE.
Does your firm or chapter have a corporate social responsibility success story? ASA members are invited to submit entries for the 2013 ASA Care Awards. There is no charge to enter 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. All entries must be received by July 1.
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