Wall Street Journal (02/18/15) Ben Leubsdorf; Josh Mitchell
Producer prices fell 0.8% in January from a month earlier, according to the U.S. Department of Labor. Excluding energy and food, prices were down 0.1%. Economists polled by the Wall Street Journal had forecast an overall price decline of 0.4% and prices excluding energy and food to increase 0.1%.
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 (02/18/15) Michelle Jamrisko
U.S. factory production increased less than forecast in January at 0.2%, according to the U.S. Federal Reserve. There was no change in December. Economists surveyed by Bloomberg had predicted a 0.4% rise. Foreign orders are down due to flagging global growth and U.S. manufacturers are slowing production in response. Domestic demand remains strong.
Washington Post (02/17/15) Chico Harlan
The minimum wage in Arkansas—one of 20 states to raise the minimum wage this year—increased by 25 cents to $7.50 per hour. This amounts to an extra $2 per day, or $520 per year, but it is not enough to pull most minimum-wage earners out of poverty.
With the federal minimum wage holding steady at $7.25 per hour since 2009, states have become the new battleground in regard to the minimum wage, with 29 states and the District of Columbia now requiring minimum wages higher than the federal level. A federal proposal to boost the minimum wage to $10.10 per hour has gone nowhere, and while supporters say the increase would return the minimum wage to its inflation-adjusted value of 40 years ago, critics contend that such a move would force small businesses to close up shop.
Autoblog (02/17/15) Chris Bruce
Volkswagen has recognized a second union, the American Council of Employees, at its factory in Chattanooga, TN, after an independent audit. It was founded last year as an alternative to the United Auto Workers, which was recognized at the factory in December. ACE says it represents about 15% of the plant’s workers, and UAW claims to represent at least 45%. Neither union has a collective bargaining agreement with Volkswagen.
Market Wired (02/18/15)
Inavero today announced its sixth annual Best of Staffing Award winners. Presented in partnership with CareerBuilder, the Best of Staffing Award winners are recognized for exceptional service quality based on satisfaction ratings given to them by their clients and job candidates. Inavero and CareerBuilder are ASA corporate partners.
“With a tightening labor market and a need for growing companies to stay flexible, staffing [companies] are placing more people into employment opportunities than at any other point in history,” says Inavero chief executive officer Eric Gregg.
Giving superior customer service can increase loyalty and client retention rates. One way to provide that extra-special service is to be well versed in employment and labor law. If you can make clients aware of their employment obligations and responsibilities, you may help them avoid legal missteps that could result in costly legal proceedings—demonstrating your commitment to them and solidifying your relationship.
The Certified Staffing Professional®, Technical Services CertifiedSM, and Certified Search Consultant® credentials can enhance your competency in and knowledge of labor and employment law, so you can protect your firm and its clients from making potentially costly mistakes.
To learn more, listen to the ASA On-Demand webinar recording of “Gain a Competitive Advantage With ASA Certification“—it’s free for ASA members. This webinar dives into new opportunities for certified individuals, offers insight into how ASA certification benefits you and your staffing firm, explains the study preparation tools that may best suit your learning style, and much more.
Protect yourself and your clients by purchasing certification study materials and getting certified today. For more information, contact ASA.
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