The ASA Staffing Index for the week of Feb. 9–15 was 95.82—a record high for the seventh week of the year. Temporary and contract staffing employment decreased 0.42% from the prior week, with continued impact from inclement weather on the East Coast. Staffing employment was 5.59% higher than the same week last year.
This week, containing the 12th, will be used in the February monthly employment situation report that will be issued by the U.S. Bureau of Labor Statistics on March 6.
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.
CTG News Release (02/24/15)
CTG reported revenues of $98.3 million for the fourth quarter of 2014, down 4% from $102.7 million in the fourth quarter of 2013. Net income for the fourth quarter of 2014 totaled $1.2 million, down 67% from $3.7 million in the year-ago quarter. IT staffing revenue totaled $67.8 million for the quarter, up 8.8% from $62.3 million, and North American revenue totaled $78.8 million, down 3.8% from $81.9 million.
For all of 2014, the company reported revenues of $393.3 million, down 6% from $419 million in 2013. Net income for 2014 totaled $10.4 million, down 34% from $15.7 million in 2013. IT staffing revenue totaled $243.7 million for the year, down 4.1% from $254.2 million, and North American revenue totaled $314.9 million, down 7.9% from $341.9 million.
Heidrick & Struggles International Inc. News Release (02/24/15)
Heidrick & Struggles reported revenues of $126.5 million for the fourth quarter of 2014, up 3% from $122.9 million in the fourth quarter of 2013. Net income totaled $762,000, down 49% from $1.5 million in the year-ago quarter. Revenues for its executive search and leadership consulting segment totaled $67.8 million in the Americas, up 6.3% from $63.8 million.
For all of 2014, the company reported revenues of $513.2 million, up 6.7% from $481 million in 2013. Net income totaled $6.8 million, up 7.9% from $6.3 million in 2013. 2014 revenues for its executive search and leadership consulting segment totaled $260.9 million in the Americas, up 1.6% from $256.7 million.
Conference Board News Release (02/24/15)
The Conference Board Consumer Confidence Index, which had increased in January to 103.8, declined in February to 96.4. The Present Situation Index decreased from 113.9 to 110.2, and the Expectations Index declined from 97.0 to 87.2.
“After a large gain in January, consumer confidence retreated in February, but still remains at pre-recession levels,” says Lynn Franco, director of economic indicators at the Conference Board. “Consumers’ assessment of current conditions remained positive, but short-term expectations declined.”
Consumers were less positive in their assessment of the job market, with the proportion stating jobs are “plentiful” decreasing slightly from 20.7% to 20.5%, and those claiming jobs are “hard to get” increasing from 24.6% to 26.2%. Consumers’ outlook for the labor market was also less optimistic. Those anticipating more jobs in the months ahead decreased from 17.3% to 13.4%.
Federal Reserve Bank of Dallas (02/23/2015)
Texas factory activity posted a second month of no growth in February, according to business executives responding to the Texas Manufacturing Outlook Survey. The production index, a key measure of state manufacturing conditions, remained near zero (0.7) and indicated output was essentially unchanged from January levels.
Labor market indicators reflected only minor employment growth and slightly shorter workweeks. The February employment index moved down from 9 to 1.3. Fifteen percent of firms reported net hiring, compared with 14% reporting net layoffs. The hours worked index edged further into negative territory, coming in at -1.6.
Don’t miss the 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.
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