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Ortoli | Rosenstadt: What Exactly Is a Seller Responsible for When Selling Its Staffing Firm?
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.
America Inc. Wakes Up to Wage Inflation
Wall Street Journal (06/20/14) Justin Lahart
Although the unemployment rate fell to 6.3% in May from 7.5% a year ago, the percentage of working-age Americans out of the labor force has climbed to 37.2% from 34.0% when the recession started, with workers unlikely to return to the job market because they are nearing retirement or their skills have eroded. U.S. Federal Reserve Chairman Janet Yellen said recently that she will know the labor market is tightening when wages rise more rapidly, but that has not happened yet, with average hourly wages up only 2.1% in May and less when adjusted for inflation.
However, chief financial officers polled by Duke University and CFO Magazine anticipate a 3.0% increase in wages and salaries over the next 12 months, up from 2.5% in June 2013, and a 1.9% boost in their workforces, up from 0.8% a year ago. To pay for the expansion in their workforces, respondents said prices will rise 2.6% over the next year, up from the 1.5% they forecast a year ago.
Time Is Running Out—Submit an Entry to the ASA Care Awards
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Staffing World® 2014 Is Coming—Register Today and Save
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—and you can save up to $150 per person when you register by Sept. 5.
Get more information and register online at staffingworld.net.
Add Value to Your Client Relationships and Increase Loyalty
Giving superior customer service can increase loyalty and client retention rates. One way to provide that extra-special service is to be well versed in employment and labor law. If you can make clients aware of their employment obligations and responsibilities, you may help them avoid legal missteps that could result in costly legal proceedings—demonstrating your commitment to them and solidifying your relationship.
The Certified Staffing Professional®, Technical Services CertifiedSM, and Certified Search Consultant® credentials can enhance your competency in and knowledge of labor and employment law. The facts obtained through these certification programs can help protect staffing professionals and their clients from making potentially costly mistakes.
To learn more, listen to a recording of the ASAPro webinar “Gain a Competitive Advantage With ASA Certification” on ASA Central—it’s free for ASA members. This webinar dives into new opportunities for certified individuals—including CSC®, the newest credential—offers insight into how ASA certification benefits you and your staffing firm, explains the study preparation tools that may best suit your learning style, and much more.
Get certified in five easy steps:
- Purchase the study materials.
- Review the study resources provided with your choice of CSP®, TSCSM, or CSC exam package.
- Take the practice exam to identify potential areas of weakness.
- Review pertinent portions of the study materials.
- Pass the online exam.
Protect yourself and your clients by purchasing the study materials at americanstaffing.net and getting certified today.
Proposed Rule to Extend Family Medical Leave Act Protections to All Eligible Employees in Same-Sex Marriages
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Illinois Employers: Are You Properly Responding to Child Support Orders?
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Long-Term Jobless Find Work as Employers Shun Raises
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Construction Employment Increased in 30 States and Washington, DC
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Big Law Firms Resume Hiring
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