Business Wire (11/13/14)
Corporate Resource Services Inc. reported revenues of $260.3 million in its 2014 fiscal third quarter, up 25% from $208.7 million in its 2013 fiscal third quarter. Net income totaled $2.4 million, up 41.2% from $1.7 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.
U.S. Bureau of Labor Statistics (11/13/14)
There were 4.7 million job openings on the last business day of September, down from 4.9 million in August, according to the U.S. Bureau of Labor Statistics. The hires level increased to 5.0 million in September, up from 4.7 million in August. This was the highest level of hires since December 2007. There were 4.8 million total separations in September, up from 4.5 million in August. The number of quits increased to 2.8 million in September—the highest level of quits since April 2008—from 2.5 million in August.
Reuters (11/13/14) Ann Saphir
The U.S. Federal Reserve is expected to start raising interest rates by mid-2015, according to a Reuters poll of 43 economists, but at a pace that’s short of what Fed officials themselves believe would be appropriate. The economists also forecast the job market will strengthen and inflation will trend higher.
“If we still get softer, weaker inflation numbers, the markets are certainly going to wonder—is the Fed in position to raise rates in mid-2015 like they’ve been saying,” says Sam Bullard, senior economist at Wells Fargo, who forecasts a June 2015 rate increase. If there is no pickup in inflation, and particularly in wages, “that’s certainly going to be ammunition for [Fed Chairman Janet] Yellen and the doves there for rates to continue where they are for a little bit longer.”
Queens Chronicle (11/13/14) Tess McRae
A new graphic novel, Ana Busca Trabajo (Ana Looks for Work) aims to educate employees about fraud by employment agencies. The book is being distributed throughout New York City; Long Island, NY; and Westchester County, NY. The book is based on data gathered by “mystery shoppers.”
It’s time for your firm to prepare its training and education budget for 2015 for corporate staff, and ASA has the resources to help.
Whether you are new to the industry or a seasoned veteran, keeping up with developments in employment law, techniques for recruiting and retention, and strategies for successful sales are necessary to your success. Designed for busy staffing and recruiting professionals, the self-study ASA certification programs will help you better serve your employees and clients. Your new knowledge will help protect your firm from costly legal errors.
Become certified through the ASA credential programs—Certified Staffing Professional®, Technical Services Certified®, and Certified Search ConsultantSM. Contact ASA for bulk order rates to help you meet your 2015 training budget.
The ASA board of directors and staff welcome the following new members, which joined during the week of Nov. 3.
All Staffing Warehousing
Bensalem, PA
ALTEK Information Technology
Frederick, MD
E.A. Renfroe & Company Inc.
Birmingham, AL
Employers Overload
Portland, OR
Hire Point Staffing Solutions
Bronx, NY
PDI
Montgomery, TX
Search Group Partners
Salt Lake City, UT
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