Bloomberg (03/20/14) Victoria Stilwell
The number of people applying for unemployment benefits in the week ended March 15 rose by 5,000 to 320,000, according to the U.S. Department of Labor—a sign that the labor market continues to strengthen. Economists surveyed by Bloomberg had forecast claims of 322,000. The four-week moving average of new claims dropped by 3,500 to 327,000, the lowest level since late November.
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.
New York Times (03/19/14) Binyamin Appelbaum
During Janet Yellen’s first news conference as the new U.S. Federal Reserve chairman, she said the central bank would reduce its monthly purchases of U.S. Treasury and mortgage-backed securities to $55 billion as the economic recovery becomes more self-sustaining. The Fed also indicated at the end of its two-day Federal Open Market Committee meeting that it would maintain short-term interest rates near zero after the unemployment rate falls below 6.5%. Yellen said that the Fed likely would raise interest rates gradually because the economic environment remains weak.
A separate set of economic forecasts from the Fed indicated that the benchmark rate could reach 1.0% by the end of 2015, up from the current 0.75%. Additionally, growth is not likely to be greater than 3.0% in 2014, compared with a December ceiling of 3.2%; unemployment is forecast to fall as low as 6.1%, rather than 6.3%. Fed officials now forecast that the unemployment rate in 2016 will reach a new equilibrium between 5.2% and 5.6%.
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The ASA Staffing Law Conference, May 21–22 in Washington, DC, is the only program dedicated to the legal issues affecting the staffing and recruiting business. It’s your chance to learn from legal experts who understand the issues your firm faces. Sessions include
Plus, everyone who attends the 2014 ASA Staffing Law Conference will receive the new ASA Affordable Care Act Communications Kit—a valuable resource that contains everything your firm needs to speak strategically about ACA compliance with clients. Check out the full agenda and more details at americanstaffing.net.
Are you evaluating agreements with your clients appropriately? Attorney Mike Rode will teach you how to properly negotiate recruiting agreements with clients during the ASAPro webinar “Creating Bulletproof Recruiting Agreements.” It takes place Tuesday, April 15, 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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