Business Wire (10/08/14)
TSR Inc. reported revenue of $13.7 million for the first quarter of the fiscal year, up 13.2% from $12.1 million during the year-ago quarter. Net income totaled $25,000, up from $11,000 in the first quarter of the last fiscal year.
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.
Bloomberg (10/09/14) Jeanna Smialek
The number of people applying for unemployment benefits in the week ended Oct. 4 fell by 1,000 to 287,000, according to the U.S. Department of Labor. Economists surveyed by Bloomberg had forecast claims of 295,000. The four-week moving average declined by 7,250 to 287,750, the lowest since February 2006.
Wall Street Journal (10/09/14) Jon Hilsenrath
U.S. Federal Reserve officials are concerned that weak overseas growth and a strengthening U.S. dollar will negatively affect the U.S. economy and hold down inflation, an outlook that has made them more prone to maintain low interest rates. Several Fed officials expressed concern at a Sept. 16-17 policy meeting that disappointing growth in China, Japan, and Europe could negatively impact American exports, according to minutes of the meeting released by the central bank late yesterday. Meanwhile, the stronger currency could hold U.S. inflation under the Fed’s 2% goal.
Bloomberg (10/08/14) Michelle Jamrisko
Chicago Federal Reserve Bank president Charles Evans says the U.S. economy has not yet returned to “full labor-market health.” Rather, “At 5.9%, the unemployment rate remains above what most people think of as its long-run neutral level,” he says. The long-run neutral rate of unemployment lies between 5.2% and 5.5%, according to Fed estimates.
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Staffing World, the ASA annual convention and expo, is the largest, most comprehensive convention and expo in the staffing, recruiting, and workforce solutions industry. Each year, thousands of industry executives, professionals, leaders, and innovators convene for this must-attend event. This year’s event takes place next week—Oct. 13–15 in metro Washington, DC.
Catch a glimpse of this exciting event in the Staffing World video, available at staffingworld.net.
Experience Staffing World next week at the Gaylord National Resort & Convention Center at National Harbor. Visit staffingworld.net for details and to register today.
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