March 20, 2015

Versique Merges With Sister Company McKinley Consulting

Published March 20, 2015 ■ Headline News

Versique News Release (03/18/15)

Minneapolis, MN-based Versique has merged with long-time sister company McKinley Consulting. The combined firm will be known as Versique. McKinley Consulting specializes in information technology consulting.

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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.

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Philadelphia Fed: Manufacturing Increased at Modest Pace in March

Published March 20, 2015 ■ Headline News

Federal Reserve Bank of Philadelphia (03/19/15)

Manufacturing activity in the Mid-Atlantic region increased at a modest pace in March, according to firms responding to the Federal Reserve Bank of Philadelphia’s Manufacturing Business Outlook Survey. The survey’s broadest measure of manufacturing conditions, at 5.0, was virtually unchanged from its reading of 5.2 in February. Firms’ responses suggest weaker labor market conditions compared with most of last year. The percentage of firms reporting an increase in employees in March (17%) narrowly exceeded the percentage reporting a decrease (14%).

The future employment index also was weaker this month. The future employment index decreased 12 points, to its lowest reading since April 2013. Although nearly 57% of firms are expecting no change in their employment levels over the next six months, the percentage expecting increases in employment (25%) remained greater than the percentage expecting decreases (11%).

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Continuing Jobless Claims Near a Low, and That May Not Be Good

Published March 20, 2015 ■ Headline News

Wall Street Journal (03/19/15) Eric Morath

Although just 2.4 million Americans were receiving continuing state unemployment-insurance payments in the week ended March 7, a historically low share, rosy statistics may be masking slack in the labor market. The number of long-term unemployed is unusually high, and many people are becoming discouraged and dropping out of the labor market. These workers are not accounted for in some of the gauges used to measure the health of the economy.

Of unemployment beneficiaries who were out of work for all of 2013, almost 44% had dropped out of the labor force by March 2014, according to Stephen Woodbury, a labor economist at Michigan State University. For those out of work for all of 2009, just 27% had dropped out by March 2010, when the total number of benefit recipients was near its apex.

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Get Ready for the ASA Staffing Law Conference

Published March 20, 2015 ■ ASA for You

The ASA Staffing Law Conference—the only event dedicated exclusively to the legal and regulatory issues facing staffing, recruiting, and workforce solutions companies—is just weeks away. This event has sold out the past two years—secure your seat today for this year’s conference, April 28–29 at Gaylord National Resort & Convention Center in metro Washington, DC.

Sessions include

The ACA Four Months In—What Staffing Firms Need to Know Now

Find out about the Affordable Care Act’s employer reporting requirements, employee participation in staffing firm health plans, and how clients have reacted to the new law in this discussion led by ASA senior counsel Ed Lenz.
OSHA’s Temporary Worker Initiative and How to Stay Compliant

Learn how the U.S. Occupational Safety and Health Administration is working to enforce policies and practices designed to improve temporary worker safety and well-being.
On the Frontlines—Legal Issues for Sales Personnel

Get strategies for communicating with salespeople about potential legal issues and liability for their staffing firms and the importance of compliance.

ASA-certified professionals can earn up to 9.5 continuing education hours, including 8.25 hours of legal CE. Review the full agenda and register today at staffinglawconference.net.