Dayton Business Journal (12/12/14) Olivia Barrow
Dayton, OH-based Barry Staff has acquired Springfield, OH-based CS Staffing. The combined company will focus on entry level industrial staffing.
Dayton Business Journal (12/12/14) Olivia Barrow
Dayton, OH-based Barry Staff has acquired Springfield, OH-based CS Staffing. The combined company will focus on entry level industrial staffing.
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.
MarketWatch (12/15/14) Greg Robb
Industrial production rose 1.3% in November, the biggest percentage increase since May 2010, according to the U.S. Federal Reserve. Economists surveyed by MarketWatch had forecast a 0.9% increase. Meanwhile, production numbers for the past three months were revised upward. Production is up 5.2% from a year ago.
Federal Reserve Bank of New York (12/15/14)
December business activity declined for New York manufacturers, according to the seasonally adjusted monthly Empire State Manufacturing Survey. The headline general business conditions index dropped 14 points to -3.6, its first negative reading in nearly two years. The new orders index also fell into negative territory, tumbling 11 points to -2.0, and the shipments index fell to -0.2. Labor market conditions were mixed, with the index for number of employees holding steady at 8.3, while the average workweek index declined to -11.5. Indexes for the six-month outlook continued to convey optimism, but to a somewhat lesser extent than in recent months.
Wall Street Journal (12/13/14) Josh Mitchell
The Thomson-Reuters and University of Michigan preliminary index of consumer sentiment increased to 93.8 in early December from a final reading of 88.8 in November. The December reading was the highest level in eight years.
“The ongoing improvement in sentiment continues to suggest that consumers remain more optimistic on the economy as labor-market slack declines, equity prices continue to march higher, and gasoline prices decline,” says economist Gennadiy Goldberg of TD Securities.
Daily News Journal (12/13/14) Scott Broden
United Automobile Workers’ officials have questioned the use of temporary employees at Nissan’s plant in Rutherford County, TN. The union claims that more than 60% of the factory’s workforce are temporary staff provided through a company contractor, which Nissan declined to confirm. Nissan decided to employ temporary staff after the recent economic recession, because the company needed to bring on more capacity more quickly. “The decision was made to partner with contract staffing [firms] to help identify, recruit, and onboard additional workforce to meet these demands quickly,” says Nissan spokesman Justin Saia.
UAW twice tried to unionize the factory but was unsuccessful. “I think if we aren’t careful [the temporary employee] issue gives the UAW some leverage,” state Rep. Mike Sparks says. “I don’t want to give [UAW] any leverage. I’ve been told by very important folks in the state that Nissan will leave our state if [the factory workers] ever unionize. I don’t want to see that happen.”
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Learn how to improve your company’s onboarding process and deliver a program that new hires will value. One of Seyfarth Shaw’s legal experts will offer the latest information on how best to avoid and defend against challenges to the legality of these programs during the ASA webinar “Tips on Implementing a Successful Onboarding Program for Staffing Professionals.” It takes place Thursday, Jan. 8, 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.
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