PR Newswire (01/29/14)
Mastech Holdings Inc. reported revenues of $28.5 million in the fourth quarter of 2013, up 21% from $23.5 million in the fourth quarter of 2012. The company’s revenue for all of 2013 totaled $106.9 million, marking a gain of 18% from $90.8 million in 2012. Net income totaled $961,000 in the fourth quarter, up 29.2% from $744,000 in the year-ago period, and $3.3 million for the full year, up 57.1% from $2.1 million in 2012.
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 (01/28/14) Carol E. Lee; Peter Nicholas; et al.
Business leaders listened carefully to President Obama’s State of the Union address last night, eager for details about how he plans to use executive power to try to narrow the gap between rich and poor and speed the country’s economic recovery. Obama ticked off an array of policy proposals aimed at helping struggling Americans earn more and find gainful employment in a tough economy.
The president stated, “Corporate profits and stock prices have rarely been higher, and those at the top have never done better. But average wages have barely budged. Inequality has deepened. Upward mobility has stalled. … Our job is to reverse these trends.”
Obama spoke about his plans to sign an executive order in the coming weeks to raise the federal minimum wage for employees on new federal contracts. However, he conceded that the White House cannot achieve certain goals on its own. To this end, the president urged the U.S. House and Senate to raise the federal minimum wage for all eligible workers to $10.10 an hour, up from $7.25.
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The deadline to participate in the association’s quarterly Staffing Employment and Sales Survey has been extended to Feb. 5. ASA has been conducting this survey, which collects information on temporary and contract staffing sales, payroll, and employment, since 1992.
Share your firm’s data with ASA so you can get the staffing industry information you’re looking for. There are no fees to participate, and staffing firms that complete the survey receive an exclusive report on the results, which includes temporary and contract staffing sales and gross margin data by sector. Register to take the survey or view a PDF version of the questionnaire at americanstaffing.net.
Don’t miss tomorrow’s ASAPro webinar, “Best Practices in Sales and Recruiting Workflow Processes,” 3–4 p.m. Eastern time. Find out how to create consistent sales and recruiting workflow processes.
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.
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. The upcoming event, May 21–22 in Washington, DC, is being held in a bigger venue—but it will probably sell out even earlier.
You’ll hear about staffing-specific issues relating to the Affordable Care Act, the U.S. Equal Employment Opportunity Commission’s focus on recruitment and placement practices, the U.S. Occupational Safety and Health Administration’s temporary worker safety initiative, the upcoming midterm elections, and more. Review the full agenda and register today at americanstaffing.net.
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