November 5, 2013

Factory Orders Climb 1.7% in September

Published November 05, 2013 ■ Headline News

MarketWatch (11/04/13) Steve Goldstein

Factory orders rose 1.7% in September to $490.8 billion, according to the U.S. Department of Commerce. Shipments climbed 0.1% in September and 0.2% in August. The September increase in orders was expected after a large rise in Boeing orders. Orders excluding transportation declined 0.2%.

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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.

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Obama Aide Stakes Out Budget Stance

Published November 05, 2013 ■ Headline News

Wall Street Journal (11/05/13) Peter Nicholas; Damian Paletta

President Obama’s top economic adviser says that the White House will not try to dictate the shape of a possible deal to avert a set of looming across-the-board spending cuts, but he advised against taking steps that cut the deficit too quickly and could imperil the recovery. Jason Furman, chair of the White House’s Council of Economic Advisers, says the Obama administration would like to see the sequester replaced by eliminating tax loopholes along with other spending reductions. Furman says that while the administration prefers tax increases as part of any deal, it is up to Democrats and Republicans to reach an agreement ahead of a deadline next month.

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Navigate the ‘1% Economy’ With Data From ASA

Published November 05, 2013 ■ ASA for You

What’s on the horizon for the staffing industry—and the U.S. economy as a whole? Get some insights from the ASA 2013 Economic Analysis, a comprehensive examination written by ASA chief operating officer Steven P. Berchem, CSP.

“American Staffing 2013: Navigating the 1% Economy” takes an in-depth look at what staffing employment says about the current economic environment and the future of overall employment; how U.S. gross domestic product affects the staffing industry; and prospects for economic, employment, and industry growth.

Highlights from the analysis:

Staffing employment growth was more robust in the first three years of recovery from the Great Recession than from the previous two recessions.
Changing labor force demographics and slower population growth are substantially reducing the rate of job creation required to maintain full employment—from more than 200,000 per month in the mid-1990s to 35,000 per month more recently.
Just over 6.7 million jobs have been created since nonfarm employment began growing again in March 2010. At the rate of job creation in the first half of 2013 (192,000 per month), it would take almost another year for nonfarm employment to reach its prerecession level.

All the figures from the analysis are available at americanstaffing.net.

Experience Staffing World® 2013 in Your Office—Convention Recordings Are Now Available

Published November 05, 2013 ■ ASA for You

If you or your staff were not able to attend Staffing World—or if you did attend and had to make tough choices between concurrent sessions—you can still experience the valuable education that took place in Orlando, FL.

Convention attendees get a discount on the full set of workshop recordings until Dec. 10. Download the order form and send it to ASA by fax or mail.

Questions? Contact ASA at 703-253-2020 or asa@americanstaffing.net.