The ASA Staffing Law Conference takes place today and tomorrow at the Gaylord National Resort & Convention Center in metro Washington, DC. If you can’t be at the conference, find out what’s happening on Twitter by following ASA (@StaffingTweets) and checking the ASA #StaffingLaw Conference hashtag for live updates and news.
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.
Ciber Reports First-Quarter 2015 Results
Ciber Investor Relations News Release (04/28/2015)
Ciber Inc. reported revenues of $202 million for the first quarter of 2015, down 7% (up 1% in constant currency) from $218 million in the first quarter of 2014. Net income totaled $4.2 million, up 8% from $3.9 million in the year-ago quarter. North American revenues totaled $105.6 million, up 2% from $103.5 million in the 2014 first quarter.
Heidrick & Struggles Reports First-Quarter 2015 Financial Results
Heidrick & Struggles International Inc. News Release (04/28/15)
Heidrick & Struggles reported net revenue of $115.2 million in the first quarter of 2015, up 3.6% from $111.1 million in the first quarter of 2014. Net income totaled $3.4 million, compared with a net loss of $0.7 million in the year-ago quarter.
By segment, revenue totaled $107 million for executive search and leadership consulting, up 2.3% from $104.6 million in the first quarter of 2014, and revenue within that segment totaled $64.5 million in the Americas, up 12% from $57.6 million. Revenue for organizational culture consulting services totaled $8.1 million, up 24.6% from $6.5 million.
CTG Reports 2015 First-Quarter Results
CTG News Release (04/28/15)
CTG reported revenues of $97.5 million for the first quarter of 2015, down 0.4% from $97.9 million in the first quarter of 2014. Net income totaled $1.3 million, down 60% from $3.2 million in the year-ago quarter. IT staffing revenue totaled $65.3 million, up 10% from $59.5 million.
TransForce Acquires Choice Drivers
PR Newswire (04/27/15)
TransForce Inc., a staffing firm that specializes in commercial truck drivers, has acquired the assets of Choice Drivers. Choice is a regional provider of commercial truck drivers, with its primary operations in Arizona. The acquisition is the fifth by TransForce in the last 28 months.
The Conference Board Consumer Confidence Index Retreats in April
Conference Board News Release (04/28/15)
The Conference Board Consumer Confidence Index, which had increased in March, declined in April. The index now stands at 95.2, down from 101.4 in March. The Present Situation Index decreased from 109.5 in March to 106.8 in April. The Expectations Index declined from 96.0 last month to 87.5 in April.
“Consumer confidence, which had rebounded in March, gave back all of the gain and more in April,” says Lynn Franco, director of economic indicators at the Conference Board. “This month’s retreat was prompted by a softening in current conditions, likely sparked by the recent lackluster performance of the labor market, and apprehension about the short-term outlook.”
Consumers stating jobs are “plentiful” declined from 21.0% to 19.1%, while those claiming jobs are “hard to get” rose from 25.5% to 26.4%.
Texas Manufacturing Activity Weakens Again
Federal Reserve Bank of Dallas (04/27/2015)
Texas factory activity declined in April, according to business executives responding to the Texas Manufacturing Outlook Survey. The production index posted a second consecutive negative reading, coming in at -4.7. The new orders index edged up but remained negative at -14. The growth rate of orders index held steady at -15.5, posting its sixth consecutive negative reading. The capacity utilization index pushed further negative to -10.4, its lowest level since August 2009, and the shipments index edged up but stayed below zero at -5.6.
Labor market indicators reflected slight employment gains but shorter workweeks. The April employment index rebounded to 1.8 after dipping below zero in March. Nineteen percent of firms reported net hiring, compared with 17% reporting net layoffs. The hours worked index stayed at -5 in April, indicating a fourth consecutive month of slightly shorter workweeks.
Free ASA Webinar Next Month—Communication Strategies for Attracting Business
Business professionals who want to be successful should possess strong communication skills. Recruiters and sales professionals, specifically, need to be able to communicate effectively with candidates and clients. Discover practical speaking tips that will help you attract more candidates and clients during the ASA webinar “Speak for Profitability—Top Communication Strategies for Attracting Business.” It takes place Thursday, May 14, 3–4 p.m. Eastern time.
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.
Massachusetts Files Draft Regulations to Implement Earned Sick Time Law
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Sixth Circuit Clarifies: Demanding Supervisor Cease Harassment Is Protected Activity
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Develop an Exit Strategy for Departing Employees
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Trends Favor Hiring Older Workers
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