Insperity Inc. News Release (11/03/14)
Insperity Inc. reported revenues of $560 million for the third quarter of 2014, up 3.8% from $540 million in the third quarter of 2013. The company’s net income totaled $8.4 million, down 16.8% from $10.1 million in the year-ago quarter.
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.
Wall Street Journal (10/31/14) Ben Leubsdorf
U.S. employers’ labor costs rose this summer for the second consecutive quarter, according to the U.S. Department of Labor. The employment-cost index rose a seasonally adjusted 0.7% in the third quarter. Economists surveyed by the Wall Street Journal had forecast an increase of 0.5% for the index.
Despite bigger paychecks, consumer spending fell by 0.2% in September, the first decline since January, the U.S. Department of Commerce said Friday in a separate report, and temporary staffing firms have not seen much evidence of a broad-based pickup in U.S. wages.
“It is as flat as a pancake everywhere: every industry, every geography, every skill set,” says Traci Fiatte, group president for Randstad’s U.S. division. And ManpowerGroup Inc. chief executive officer Jonas Prising says there has been “significant wage pressure in certain skill sets,” such as mobile application developers. But, he says, “you have a broad swath of people that are not seeing any wage increases, or very little wage increases.”
Reuters (10/31/14) Chuck Mikolajczak
U.S. consumer sentiment climbed in October to its highest point in more than seven years, according to the Thomson Reuters and University of Michigan consumer sentiment survey. The survey’s final reading was 86.9, up from September’s final reading of 84.6 and up from the initial October reading of 86.4. Economists surveyed by Reuters had forecast a reading of 86.4.
Don’t miss tomorrow’s ASA webinar “From Average to Great—The Four Key Steps to Becoming a Master Recruiter,” 3–4 p.m. Eastern time. Find out what distinguishes a great recruiter during this two-part ASA webinar (the second session will take place Tuesday, Nov. 11).
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.
The association’s quarterly Staffing Employment and Sales Survey for the third quarter of 2014 will be open for just two more weeks. Staffing firms that complete the brief survey will receive an exclusive report on the results—now enhanced with new graphs, including representations of sector-level data.
The data collected by this survey enable ASA to track staffing sales and gross margin trends. Participate in the Staffing Employment and Sales Survey by Nov. 19 to get the staffing industry information you’re looking for.
Register to take the survey, or view the questionnaire, at americanstaffing.net. The survey is sponsored by ASA research partner CareerBuilder, and there are no fees to participate.
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