Wall Street Journal (01/06/15) Michael Calia; Shayndi Raice
Stone Point Capital LLC will acquire Situs Holdings, a real-estate services firm and staffing provider. Terms of the deal have not been disclosed.
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.
Day & Zimmermann Becomes Sole Owner of SOC LLC
Marketwired (01/06/15)
Staffing and defense solutions provider Day & Zimmermann has become the sole owner of SOC LLC, a provider of security, logistics, and life support services to the U.S. government. To acquire sole ownership, D&Z purchased the interests of SOC-SMG Inc., a co-owner of SOC since its founding in 2008. D&Z also is the parent company of Yoh.
Online Labor Demand Down 79,200 in December
Conference Board News Release (01/07/15)
Online advertised vacancies fell 79,200 to 5.2 million in December, according to the Conference Board Help Wanted OnLine Data Series. The November supply and demand rate stands at 1.73 unemployed for each advertised vacancy, with a total of 3.9 million more unemployed workers than the number of advertised vacancies. The number of unemployed was 9.1 million in November.
“Labor demand in 2014 continued its steady growth pattern to new series highs,” says Gad Levanon, managing director, macroeconomic and labor market research. “Online labor demand quickly rebounded from the recession and surpassed the prerecession series high in early 2012. In the three years since then, the level of online labor demand has increased further by about 20%.”
The sustained high level of employer labor demand has helped reduce the number of unemployed, with the U.S. supply and demand rate falling from a recession high of 5.2 in 2009 (more than five unemployed for each available ad) to the current level of 1.7. During 2014, the supply and demand rate fell by more than 20% as demand continued to increase and unemployment continued to fall.
ADP: Private Businesses Added 241,000 Jobs in December
Wall Street Journal (01/07/15) Kathleen Madigan
The private sector added workers at a solid pace in December, according to Automatic Data Processing Inc. Private payrolls rose by 241,000 jobs. Economists surveyed by the Wall Street Journal had forecast an increase of 250,000 jobs. The November gain was revised up from 208,000 to 227,000.
U.S. Service-Sector PMI Slows in December
Wall Street Journal (01/06/15) Kathleen Madigan
The Institute for Supply Management’s nonmanufacturing purchasing managers index dropped to 56.2 in December from 59.3 the month before. Experts surveyed by the Wall Street Journal had forecast a reading of 58.0. The employment index fell slightly to 56.0 from 56.7.
A Special Thank You to ASA Volunteers
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Free ASA Webinar Tomorrow—Successful Onboarding for Staffing Professionals
Don’t miss tomorrow’s ASA webinar “Tips on Implementing a Successful Onboarding Program for Staffing Professionals,” 3–4 p.m. Eastern time. Learn how to improve your company’s onboarding process so that your corporate employees have opportunities to learn and succeed.
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.
New Hampshire Lowering Unemployment Insurance Tax
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2014’s Most Intriguing Decisions in EEOC-Initiated Litigation
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Antibullying Training Becomes Mandatory for California Supervisors
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(Alleged) LinkedIn Indiscretion in a Noncompete Matter
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Temporary Worker Suffers Permanent Disability After Packaging Machine Crushes Him
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CEO Explains Why Companies Are So Slow About Hiring
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