Business Wire (01/10/2014)
TSR Inc. reported revenue of $12.2 million in the fiscal 2014 second quarter, up 15.2% from $10.6 million during the year-ago period. The company’s net income totaled $32,000, up from a net loss of $182,000 in the second quarter of fiscal 2013.
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.
Wall Street Journal (01/10/14) Jon Hilsenrath
The U.S. Federal Reserve is unlikely to alter its policy of gradual reductions in its monthly bond purchases as a result of the recent disappointing jobs report. The Fed’s policy committee will met Jan. 28-29, when officials will discuss reducing bond purchases from $75 billion in January to $65 billion. Chairman Ben Bernanke indicated in December the Fed could reduce its purchases by $10 billion each month.
Complicating matters is the fact that the 6.7% jobless rate is due in part to people leaving the workforce, some due to retirement but some because people have given up on finding employment. Regardless of the reason, however, the Fed continues to base its decisions on the jobless rate.
Wall Street Journal (01/10/14) Kathleen Madigan
There are five things to keep in mind when looking at the December employment report, including the fact that the number of people who could not get to work due to bad weather hit a 36-year high of 273,000 in December, according to the U.S. Department of Labor. January’s payroll number could look extremely robust as the weather effect eases. Additionally, the decrease in the unemployment rate to 6.7% in December can be attributed to the fact that more jobless workers dropped out of the labor force, pushing down the labor-force participation rate to a near 35-year low of 62.8%.
Even an upward revision in November’s payroll gain failed to bring up the fourth quarter totals given that October’s payroll numbers held steady, and the health care subcomponent of the education and health care sector showed a loss of 6,000 jobs last month, the first decline since tracking of the sector began in 1990. Moreover, weak net new jobs, a shorter work week, and a mere two-cent gain in hourly pay mean wages and salaries barely budged in December.
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The ASA Staffing Law Conference is the only program dedicated to the legal issues affecting the staffing and recruiting business. Last year’s conference attracted a sold-out crowd, and the upcoming event, May 21–22 in Washington, DC, is likely to be even more popular.
Sessions include
Register today at americanstaffing.net.
State unemployment insurance tax rates seem to be moving down, which could mean new opportunities for businesses—will your staffing firm be prepared to take advantage of them? Get tips during the ASAPro webinar “Unemployment Tax Credit.” It takes place Thursday, Feb. 6, 3–4 p.m. Eastern time.
All ASAPro webinars are free for ASA members, and most qualify for continuing education hours toward ASA certification renewal. To learn more and to register, visit americanstaffing.net.
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