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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.
Obama Administration Disallows Plans Without Hospital Coverage
Kaiser Health News (02/23/15) Jay Hancock
On Feb. 20, the U.S. Department of Health and Human Services announced that health plans without substantial coverage of hospital and physician services do not meet the Affordable Care Act’s standard for “minimum value” coverage, meaning employers offering these plans are subject to fines of $3,000 or more per worker. Many employers in the staffing, retail, restaurant, and hotel industries, in particular, that had not previously provided health insurance flocked to these plans for 2015, which the department allowed for this year only, provided contracts had been signed by Nov. 4.
Wal-Mart to End One-Day Wait for Sick Pay
Wall Street Journal (02/20/15) Paul Ziobro
Wal-Mart Stores Inc. will eliminate one-day sick leave wait periods for full-time employees starting next year. Currently, workers have to use a personal day for their first day of sick leave if they want to be paid. The change is part of a host of new policies at the company meant to help employees, and thereby boost customer satisfaction. The new policies are expected to cost the company more than $1 billion this year. The company also recently eliminated health insurance benefits for 30,000 part-time workers.
ASA Quarterly Staffing Employment and Sales Survey Closes This Week
Time is running out to participate in the association’s quarterly Staffing Employment and Sales Survey for the fourth quarter of 2014—it closes this Wednesday, Feb. 25. Take the survey today to get the staffing industry information you’re looking for.
The data collected by this survey enable ASA to track staffing sales and gross margin trends. Staffing firms that complete the brief survey will receive an exclusive report on the results—now enhanced with graphs and an executive summary. The report also includes representations of sector-level data.
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.
Free ASA Webinar Tomorrow—Effective Communication During Conflicts
Don’t miss tomorrow’s ASA webinar “How to Hold Critical Conversations Productively,” 3–4 p.m. Eastern time. Learn methods for productively holding critical conversations and addressing conflict in your team.
During this webinar, you can contribute to the discussion by following @StaffingTweets on Twitter and using the hashtag #ASAWebLive to offer your thoughts and perspectives about the webinar’s content in real 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.
IRS Issues Work Opportunity Tax Credit Notice
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Houston’s Equal Rights Ordinance Is Part of a Larger Trend Toward Local Government Action
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Inadequate Consideration of the Adequacy of ‘Consideration’ Is an Avoidable Impediment to Enforceable Noncompetes
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How to Mitigate Compliance Risks With BYOD
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Global Workforces Create Compensation Challenges for Employers
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Harsh Winter Weather Yet to Take Economic Toll
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