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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.
DOL Answers Employer Questions on Failure to Provide ACA Notice to Employees
In response to a recent question regarding the employer notice requirement under the Affordable Care Act, the U.S. Department of Labor has clarified the penalty for employers that fail to provide these notices to their employees. ASA members can read an analysis of DOL’s response at asacentral.americanstaffing.net.
Initial Jobless Claims Slump as Two U.S. States Underreport
Bloomberg (09/12/13) Jeanna Smialek
U.S. jobless claims fell last week to the lowest level since April 2006, in part because two states were working on their computer systems and reported fewer applications for unemployment benefits. Claims declined by 31,000 to 292,000 in the week ended Sept. 7, according to the U.S. Department of Labor. A Bloomberg forecast of economists had anticipated 330,000 claims. The less-volatile four-week moving average declined to 321,250, the lowest since October 2007, from 328,750.
Unions’ Misgivings on Health Law Burst Into View
New York Times (09/11/13) Steven Greenhouse; Jonathan Martin
During a phone call between the president of the AFL-CIO, Richard Trumka, and President Obama last month, the union president expressed anger about the Affordable Care Act, specifically the delay of an employment mandate and the effects of ACA on existing health insurance plans. Due to Obama’s concerns about labor’s criticisms, Trumka promised he would try to soften the resolutions that several unions would push at the American Federation of Labor and Congress of Industrial Organizations’ convention this week in Las Vegas. However, labor leaders still criticized the president and Congress at the convention. They praised the legislation, but demanded changes to certain regulations. They asserted that by offering tax credits for workers buying insurance from for-profit and other companies in the exchange, certain employers will be placed at a disadvantage.
Trumka will meet with Obama on Friday. The loss of health care benefits has the potential to erode union membership, which is already struggling as the organizations decline. Several union presidents have expressed frustration with an administration that they have aided, but which has not aided them in return. Union leaders want unionized workers to qualify for tax credits that workers with family income less than four times the poverty line receive, to help finance their Taft-Hartley insurance plan, which covers around 20 million workers and retirees. Republicans are attempting to prevent any union accommodation on this issue.
Share Your National Staffing Employee Week Plans Online
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Ready for Staffing World? It’s Less Than a Month Away!
Are you prepared for Staffing World 2013? The ASA annual convention and expo takes place Oct. 8–10 in Orlando, FL. With nearly 40 high-caliber education sessions, several networking events, and a sold-out expo hall, you might need help figuring out how to organize your time.
Get tips during the ASAPro webinar “Make the Most of Your Staffing World Experience,” Thursday, Sept. 26, 3–4 p.m. Eastern time.
All ASAPro webinars are free for ASA members. To learn more and to register, visit americanstaffing.net. And if you’re not registered for Staffing World yet, visit staffingworld.org and register today. ASA members receive a discounted registration rate.
Report Predicts Job Safety Could Be a Casualty of Budget Battles
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Second and Ninth Circuits Allow Employers to Preclude Collective FLSA Claims, Rejecting NLRB Ruling
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ManpowerGroup Solutions’ Managed Service Provider TAPFIN Launches World’s First Contingent Work Force Index
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Business Executives Grow More Optimistic About Hiring Plans for Coming Year, AICPA Survey Finds
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UCLA Anderson Forecast: Inflation Over 2% in 2014, Fed Ups Rate Next Year
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Will Americans Continue to Work Longer?
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