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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.
August Job Openings Highest Since January 2001
U.S. Bureau of Labor Statistics (10/07/14)
There were 4.8 million job openings on the last business day of August, up from 4.6 million in July and the highest level of job openings since January 2001, according to the U.S. Bureau of Labor Statistics. There were 4.6 million hires in August, down from 4.9 million in July. The hires rate of 3.3% was down, and the separations rate of 3.2% was essentially unchanged in August. Within separations, the quits rate of 1.8% was unchanged and the layoffs and discharges rate of 1.1% was little changed.
Job openings rose in nondurable goods manufacturing, health care and social assistance, and accommodation and food services. Job openings fell in state and local government.
Wal-Mart to End Health Insurance for Some Part-Time Employees
Wall Street Journal (10/07/14) Shelly Banjo; Anna Wilde Mathews; Theo Francis
Wal-Mart Stores Inc. plans to cut health insurance benefits for 30,000 part-time employees. The country’s largest employer also will increase premiums for all employees in an effort to reduce its costs as the Affordable Care Act takes effect.
Get Ready for ACA Implementation at Staffing World® 2014
The Affordable Care Act is coming—as of Jan. 1, 2015, U.S. employers must be compliant with the ACA’s employer shared responsibility (“play or pay”) provisions. If your firm is still working on how to comply with the law, you’ll want to be at Staffing World, Oct. 13–15 at the Gaylord National Resort and Convention Center in metro Washington, DC.
The largest, most comprehensive convention and expo in the staffing, recruiting, and workforce solutions industry is your last, best chance to get specific information on how this new law will affect your business.
Staffing World will feature Affordable Care Act-specific sessions to ensure that staffing firms are 100% prepared for the employer mandates that go into effect in January:
- “ACA and Staffing—Managing Your ACA Ecosystem,” a session presented by Mike Psenka, senior vice president, workforce analytics at Equifax Workforce Solutions
- “Employer Mandate Countdown: Final Checklist,” a panel facilitated by Edward A. Lenz, Esq., senior counsel of the American Staffing Association
Additionally, you can focus on the particular questions that concern you in the ASA Learning Pavilion, new this year at Staffing World. Created in response to past participants’ requests for unstructured learning, the ASA Learning Pavilion will be open in the expo hall. Stop by to chat with other Staffing World attendees about important industry topics, including the Affordable Care Act.
Come to Staffing World for the last opportunity to discuss ACA compliance issues with your peers before 2015. Get more information and register online at staffingworld.net.
Free ASA Webinar Next Month—Be a Master Networker
Skillful networking can be a roadmap to referrals. Learn the best practices for networking effectively and strategically during the ASA webinar “Become a Master Networker.” It takes place Thursday, Nov. 6, 3–4 p.m. Eastern time.
All ASA 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.
Grand America Hotels and Resorts Forfeits Almost $2 Million to DHS for Hiring Undocumented Workers
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EEOC’s Fiscal Year-End Lawsuit Blitz Once Again Catches Dozens of Employers in Litigation Net
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Use of Big Data in Recruiting and Screening Could Mean Big Problems for Employers
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When Misconduct at Home Turns Into Discipline at Work
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Can You Search Your Employee’s Cell Phone?
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Implementing the Amendments to Washington, DC’s, Accrued Sick and Safe Leave Act
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United Airlines Fined $270,000 for Reverification of Lawful Permanent Residents in the Form I-9 Process
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Study Reveals Five Technology-Related Barriers That Are Killing Your Candidate Experience
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Study Indicates Strong Demand for Accounting, Finance, and Information Technology Professionals
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