If you’re already a member, please sign in to read more.
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.
Jackson Healthcare Acquires Consulting Company
Jackson Healthcare News Release (08/11/14)
Georgia-based Jackson Healthcare is acquiring Michigan-based Sullivan Healthcare Consulting for an undisclosed sum. Sullivan Healthcare Consulting serves Canada and the U.S. and specializes in perioperative governance, surgery benchmarking, scheduling, staffing, sterile processing, and surgery information technology implementation.
NFIB: Small-Business Optimism Ticks up Slightly
NFIB News Release (08/12/14)
The National Federation of Independent Business’ July Optimism Index rose 0.7 points to 95.7. There was little change in the 10 index components other than outlook for expansion and business conditions. Even though these improved, they still remain historically low.
Job creation plans continued to strengthen and rose one percentage point to a seasonally adjusted net 13%, the best reading since September 2007. Not seasonally adjusted, 16% plan to increase employment at their firm, down two points, and 6% plan reductions, up one point.
Market Basket Turmoil Pushes New Hampshire Staffing Firm Into Bankruptcy
New Hampshire Business Review (08/11/14) Bob Sanders
New Hampshire-based American Resource Staffing Network Inc. and the associated American Resource Network filed for Chapter 11 bankruptcy protection last month due in part to the firing of Market Basket chief executive officer Arthur T. Demoulas and the subsequent employee and management revolt. ARSN had provided staff for suppliers of the supermarket chain. ARSN, which has a payroll of more than 1,000, has at least $10 million in debt and filed an emergency motion to pay its employees. The company has been in trouble for a while because of rising state and federal employment tax obligations and an inability to become current on past-due obligations.
Fed Official Warns ‘Disappointing’ Growth Could Foretell Future
New York Times (08/11/14) Nelson D. Schwartz
Speaking at a conference organized by the Swedish Ministry of Finance, U.S. Federal Reserve vice chairman Stanley Fischer said that global growth is “disappointing” and that future gains likely will be hampered by fundamental headwinds. However, he did indicate the slow recovery could be tied to the Great Recession, though “it also is possible that the underperformance reflects a more structural, longer-term shift in the global economy.”
The three significant headwinds holding back U.S. growth are the anemic housing market, cuts in federal government spending, and weaker global growth that reduced demand for American exports. One major concern has been the slow growth in the size of the U.S. labor market as Baby Boomers retire and many workers have given up looking for jobs.
Fiverr Raises $30M for Online Services Marketplace
Wall Street Journal (08/11/14) Lizette Chapman
Fiverr International Ltd. has raised $30 million from investors, bringing its total outside capital to $50 million. The services marketplace startup will use the money to promote its new product and expand internationally. Fiverr caters to a wide swath of creative and professional freelancers and allows users to rate sellers. Its platform has more than three million gigs in 196 countries and includes millions of buyers and sellers.
Benchmark Your Payroll and Benefits Programs
If you’re already a member, please sign in to read more.
Free ASAPro Webinar Next Month—Investigating Workplace Incidents
Employee complaints or workplace incidents, whether they occur on a staffing firm’s premises or on those of its client, constitute a significant liability risk for staffing firms. Learn the best practices of a good investigation process during the ASAPro webinar “How to Handle Investigations of Workplace Incidents.” It takes place Tuesday, Sept. 9, 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.
Find Out How Your Payroll and Benefits Programs Compare With Industry Peers
The ASA Staffing Industry Compensation Survey, which provides the only comprehensive view of salaries and compensation in the staffing industry, is back by popular demand.
Subscribe and participate in the survey for online access to exclusive custom reports that will help you determine whether your payroll is in line with industry norms. Get data based on peer input to support fiscally sound decisions for 29 positions specific to the staffing industry.
Custom online reports will be available to subscribers beginning Sept. 29, and a summary of 2013 survey results will be provided to all 2014 participants. For more information and to subscribe, visit americanstaffing.net.
Does Your Handbook Need Help?—Why All Employers Need to Be Aware of NLRB’s Ever Increasing Scrutiny of Employee Handbooks
If you’re already a member, please sign in to read more.
Have You Reviewed Your Dress Code Lately?
If you’re already a member, please sign in to read more.
Tips on What Your Confidential Information Policies Must Have
If you’re already a member, please sign in to read more.
Executive Search Activity Continues Upward Trend
If you’re already a member, please sign in to read more.
Wage Gap Widens From Recession as Income Inequality Grows
If you’re already a member, please sign in to read more.
Labor Department: Bees Are the No. 1 Bug Killer of Workers
If you’re already a member, please sign in to read more.