Reuters (02/28/14) Lucia Mutikani
U.S. gross domestic product expanded at a 2.4% annual pace in the fourth quarter of 2013, revised downward from the 3.2% pace reported a month earlier, according to the U.S. Department of Commerce. Economists surveyed by Reuters had forecast a revision to 2.5%. Weaker than expected November and December consumer spending accounted for a large portion of the revision.
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 (02/27/14) Jon Hilsenrath; Pedro Nicolaci da Costa
Bad weather may account for the soft economic data making headlines during the past few weeks, U.S. Federal Reserve chairman Janet Yellen told members of the Senate Banking Committee, but she isn’t sure. Despite the uncertainty, the Fed likely will cut its monthly bond purchases to $55 billion at the next meeting, scheduled for March 18-19. The central bank may consider continuing its bond-buying program longer than planned if the economic sluggishness continues, but Yellen played down the likelihood of such a move. She said continuing the program would be considered only if the Fed’s forecast for the economy changes significantly.
PR Newswire (02/27/14)
Ettain Group, a national information technology staffing company, has announced a partnership with New MainStream Capital. NMS will invest in Ettain and offer additional capital to support Ettain’s growth.
PRWeb (02/27/14)
Pro Staff, a specialty brand of Atterro Human Capital Group, will assume operations of Navigator Staffing Services on March 3. Navigator’s founder is retiring. Navigator is based in Atlanta, and the takeover will allow Pro Staff to establish a presence in that market.
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Online registration is now open for the 2014 ASA Staffing Law Conference, May 21–22 in Washington, DC. Last year’s conference attracted a sold-out crowd, and limited seating remains for this year’s event—the only program dedicated to the legal issues affecting the staffing and recruiting business.
The conference agenda includes a panel discussion on the Affordable Care Act’s employer mandate, a look at the U.S. Occupational Safety and Health Administration’s temporary worker safety initiative, and a preview of the upcoming congressional elections. Visit americanstaffing.net today for session descriptions, travel and hotel details, and to register.
The ASA board of directors and staff welcome the following new members, which joined during the week of Feb. 17.
The Davis Cos.
Malborough, MA
JustinBradley
Washington, DC
Performance Staffing Solutions
Charlotte, NC
True Talent Group
Saint Paul, MN
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