Michael Page International News Release (04/15/2014)
Michael Page International reported £126.6 million in gross profit for the first quarter of 2014, down 0.2% (up 6.8% in constant currency) from £126.8 million in the first quarter of 2013. Gross profit for the Americas totaled £18.1 million, down 1.5% (up 15.6% in constant currency) from £18.4 million in the year-ago period.
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.
Marketwired (04/14/14)
F.A.I.T.H. Resources, a recruitment and interim staffing firm, has merged with Advantage Placements, an Irvine, CA-based recruitment firm. The new corporate headquarters will be located in Newport Beach, CA. F.A.I.T.H. Resources will continue to be led by Joseph Ruiz, president and founding partner.
Next Step Systems News Release (04/09/14)
Naperville, IL-based Next Step Systems has acquired Chicago-based information technology staffing firm Parallel Partners.
Wall Street Journal (04/15/14) Damian Paletta
The consumer price index rose 0.2% in March from February, according to the U.S. Department of Labor, though price pressures remained muted amid weak growth in the U.S. and overseas. Economists surveyed by the Wall Street Journal had forecast a 0.1% increase. Core prices, which exclude volatile food and energy costs, also increased 0.2%.
Compared with a year ago, consumer price inflation rose to 1.5% in March from 1.1% in February, but it stayed below the U.S. Federal Reserve’s 2.0% target for annual inflation. Moderate inflation is considered by economists to be a sign of healthy consumer demand that encourages companies to hire new employees.
Reuters (04/14/14) Dan Burns
Consumer confidence in the labor market increased last month, particularly among young workers who see more potential employment opportunities should they lose their jobs, according to the New York Federal Reserve. Consumers cited an average chance of 48.95% of finding a new job if they lose their current job, up from 46.10% in February. Workers younger than 40 were the most optimistic and placed their odds of finding a new job at 60.38%. Older workers between 40 and 60 placed their chances at 45.52%, and those over 60 at 30.39%.
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Don’t miss the ASAPro webinar “Creating Bulletproof Recruiting Agreements.” It takes place today from 3 to 4 p.m. Eastern time. Learn how to negotiate recruiting agreements with clients from attorney Mike Rode.
All ASAPro webinars are free for ASA members, and most qualify for continuing education hours toward ASA certification renewal. This webinar qualifies for legal CE. To learn more and to register, visit americanstaffing.net.
Charlie Cook, editor and publisher of the Cook Political Report. David Michaels, Ph.D., MPH, assistant secretary of labor for occupational safety and health at the U.S. Occupational Safety and Health Administration. Helen Konrad, Esq., immigration law expert. A panel of attorneys who serve as in-house counsel for staffing companies.
They’ll all be at the ASA Staffing Law Conference, May 21–22 in Washington, DC. You should be there too—but you’ll have to act quickly. Fewer than 40 seats remain for the conference, which is the premier program dedicated to the legal issues affecting the staffing and recruiting business.
You’ll get insight into the U.S. Occupational Safety and Health Administration’s temporary worker safety initiative, the U.S. Equal Employment Opportunity Commission focus on recruitment and placement practices of staffing firms, the 2014 midterm elections, and more. Check out the full agenda and register online at americanstaffing.net.
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