Wall Street Journal (01/08/14) Kathleen Madigan
According to Automatic Data Processing Inc. and Moody’s Analytics, companies increased payrolls by 238,000 in December, which followed an upwardly revised November gain of 229,000. Economists surveyed by Dow Jones Newswires had predicted a December increase of 200,000.
The service sector grew by 170,000 jobs in December, while the construction sector grew by 48,000 jobs, and factories added 19,000 jobs.
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.
Hartford Courant (Connecticut) (01/07/14) Mara Lee
Eric Rosengren, president and chief executive officer of the Boston Federal Reserve Bank, says the slow pace of job growth is causing people to give up on getting hired. Rosengren points out that the longer a person is unemployed, the less likely he or she is to find employment. Rosengren was the only member of the Federal Reserve Board to oppose the recent slowdown in the Fed’s stimulus plan. However, he believes both job growth and gross domestic product will be stronger in 2014.
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