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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.
Economic Data Complicate Fed Rate Deliberations
Wall Street Journal (03/17/15) Josh Zumbrun
Although U.S. Federal Reserve chairman Janet Yellen cited improvements in the labor market and resurgent consumers as she laid the groundwork for an increase in interest rates later this year, private economists have downgraded forecasts for first-quarter growth in recent days as economic data show sluggishness in industrial production, retail sales, and housing starts. These latest economic reports are important because central bank policymakers do not want to hike interest rates until they are sure the economy is sound.
However, the continued strength of the job market has been most reassuring to policymakers, with the unemployment rate falling to a nearly seven-year low of 5.5% in February, and the 3.3 million jobs added during the year-to-year period marking the highest number in about 15 years. “Even in years when the economy is booming you’ll always find pockets of weakness,” says Joseph LaVorgna, chief U.S. economist for Deutsche Bank. “But the labor market seems to be the key driver in all of this and the labor market looks great.”
Free Town Hall Forum This Month for Sales Staffing Firms
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Free ASA Webinar Next Month—Attract Talent to Win Clients
Effective recruiting is one of the best ways to differentiate your firm. Find out how you can achieve a greater placement percentage—by knowing your candidate base—during the ASA webinar “Best Practices for Recruiting in Today’s Job Market.” It takes place Thursday, April 16, 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.
Additional Guidance on the DC Wage Theft Prevention Amendment Act and ‘ZIP Code’ Program
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Wage-and-Hour Cases Represent the Most Significant Exposure to Employers Under Workplace Laws
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Equal Pay Owed for ‘Substantially Equal’ Job Duties, Regardless of Job Title
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Construction Employment Increased in 31 States
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