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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.
Slow-Motion U.S. Recovery Searches for Second Gear
Wall Street Journal (06/24/13) Brenda Cronin
Although economists expect 2014 to be the best year since 2005 for economic growth and anticipate a drop in the unemployment rate below 7%, observers remain cautious about stock market declines and rising interest rates. Inflation remains low, consumer confidence has hit a five-year high, and the economy has managed to weather tax hikes and other shocks without falling back into recession. Moreover, the rebounding housing market will fuel economic growth during the second half of the year.
However, slow hiring and stagnant wage growth have put a damper on the economy, and with 24 million fewer jobs today than at the start of the recession, the Brookings Institution expects it to take more than nine years at the current rate of hiring for employment to return to prerecession levels.
Steady Hiring Pushes Down Unemployment Rates in Half of U.S. States
Associated Press (06/21/13)
The U.S. Department of Labor reported declining unemployment rates in half of the states in May, while unemployment rates climbed in 17 states and held steady in eight states. By region, the unemployment rate slipped to 7.5% from 7.6% in the Northeast and to 7.8% from 8% in the West, held at 7.2% in the Midwest, and climbed to 7.2% from 7.1% in the South. The decreases can be attributed to steady hiring, with 33 states adding jobs in May.
The biggest declines in unemployment rates were recorded by California, which dropped to 8.6% from 9%, and West Virginia, which slipped to 6.2% from 6.6%. The highest unemployment rate of 9.5% was recorded in Nevada, while the lowest rate of 3.2% was recorded in North Dakota.
Network With Your Search and Placement Peers—Town Hall Forum This Week
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Free ASAPro Webinars This Week—ACA and Allied Health Care Staffing
Tomorrow, be sure to catch the ASAPro webinar “What to Tell Your Clients About the Affordable Care Act.” ASA senior counsel Edward A. Lenz will address key questions about the Affordable Care Act’s “play or pay” rules so you can understand your firm’s responsibilities and help your clients understand theirs.
And this Thursday, June 27, attend the ASAPro webinar “Insights and Trends in Allied Health Care Staffing.” Learn about the expanding allied health care industry and the opportunities you could be missing out on to fill allied health care positions. It takes place from 3 to 4 p.m. Eastern time and is brought to you by the ASA health care section.
ASAPro webinars are free for ASA members and qualify for continuing education hours toward ASA certification renewal. To learn more and to register, visit americanstaffing.net.
Is it time to renew your ASA credential? The deadline is July 1, 2013 for individuals who earned or renewed their Certified Staffing Professional® or Technical Services CertifiedSM credential between Jan. 1, 2010, and June 30, 2010. To be eligible to renew your CSP® or TSCSM credential, you must complete at least 30 hours of continuing education every three years. At least six of the 30 CE hours must pertain to employment law. Renew your credential online today to stay current and keep your competitive advantage.
Join ASA Today and Save
Among the top benefits of joining ASA right now is instant access to the most credible, industry-specific information available regarding the Affordable Care Act and what staffing firms need to be doing right now to prepare. Plus, ASA members receive a discounted rate when registering for Staffing World® 2013, Oct. 8-10 in Orlando, where ASA will deliver even more ACA-related information especially for staffing firms.
Join ASA today and start reaping the benefits. Contact the ASA membership team at 703-253-2020 or asa@americanstaffing.net.
Will Clients Have Employer Obligations for Staffing Firm Employees Under the ACA? (Part 2)
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EEOC: We Don’t Ban Background Checks
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North Dakota Workers’ Compensation Agency to Send Employers Refunds
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Accommodations Under the ADAAA: Five Sure Ways to End Up in Court
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Performance Pay Gaining Support Among U.S. Employees, According to Global Survey by Kelly Services
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Idled by Housing Bust, Now Getting Back to Work
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Employers Test Plans That Cap Health Costs
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