ADP Employment Report (12/04/13)
According to the November 2013 ADP Employment Report, 215,000 jobs were added in the U.S. private nonfarm sector from October to November. Small businesses added 102,000 jobs, medium businesses added 48,000 jobs, and large businesses added 65,000 jobs.
Service-providing industries added 176,000 jobs in November, up from 156,000 in October. This was the largest gain in the service sector in a year.
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 (12/03/13) Ann Saphir
San Francisco Federal Reserve Bank president John Williams said in an interview that the U.S. Federal Reserve must more aggressively provide details on what will cause it to raise interest rates. These details will prevent investor uncertainty. Williams said the bank must convince investors that rates will remain low after the Fed stops buying bonds. When it decides to stop buying bonds, it should announce an end date and a purchase total, Williams said.
The Fed plans to stop buying bonds when unemployment reaches 6.5%, so long as inflation does not rise above 2.5%. Unemployment was 8.1% in September 2012 when the Fed began its program and is now at 7.3%. Neither Federal Reserve chairman Ben Bernanke nor his successor-to-be, Janet Yellen, have indicated what would cause the Fed to raise interest rates. Most economists think the Fed will continue buying bonds at least until March, but some say that reductions could occur in December, particularly if job creation improves.
Are you getting the data you need to make the best decisions for your business? During tomorrow’s ASAPro webinar, “Using Staffing Metrics to Create a Culture of Performance,” explore the seven critical performance ratios and learn how to use them. It takes place Dec. 5 from 3 to 4 p.m. Eastern time.
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.
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.
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