Cross Country Healthcare Inc. News Release (06/02/14)
Boca Raton, FL-based Cross Country Healthcare Inc. has signed an agreement to acquire substantially all the assets and business of Medical Staffing Network, also based in Boca Raton, for $48.3 million, subject to a post-closing working capital adjustment.
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.
Hamilton-Ryker IT Solutions News Release (06/02/14)
Nashville, TN-based staffing firm Hamilton-Ryker IT Solutions has acquired Washington, DC-based Metro Data Networks, a provider of technology services, including information technology staffing.
Wall Street Journal (06/02/14) Brenda Cronin; Kathleen Madigan
American factories increased production in the second quarter, adding strength to the uneven global recovery, according to the Institute for Supply Management’s manufacturing index. Manufacturing activity increased to 55.4 in May, up from 54.9 in April, marking the fourth consecutive month of improvement. Readings above 50 indicate expansion.
Meanwhile, the production index rose to 61.0 in May from 55.7 in April, the highest reading since December. The new orders index climbed to 56.9 from 55.1, a five-month high. The employment index declined to 52.8 from 54.7, but remains high enough to suggest an increase in factory jobs.
PC World (06/02/14) Grant Gross
Three technology workers’ groups—Bright Future Jobs, the Programmers Guild, and WashTech—are boycotting ManpowerGroup, International Business Machines, and Infosys, arguing the companies discourage U.S. workers from applying for U.S. information technology jobs by gearing their job advertisements toward foreign workers. An Infosys spokesperson disputed the charges; representatives from IBM and Manpower didn’t respond to requests for comment.
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Staffing World 2014, the largest, most comprehensive convention and expo in the staffing, recruiting, and workforce solutions industry, takes place Oct. 13–15 at the Gaylord National Resort and Convention Center in metro Washington, DC. Registration is now open—and you can save up to $300 per person when you register by next Friday, June 13.
One of the highlights of this year’s conference will be the “Online Staffing Evolution” workshop—Matt Cooper of Elance-oDesk will offer his perspective on the recent merger of two leading online staffing companies. Learn more about this session and the rest of the executive education opportunities at staffingworld.net.
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