Overall economic activity expanded from mid-May through June, according to the Federal Reserve Board’s latest report on regional economies (known as the “beige book”). Across districts, employment levels increased or were steady in most sectors, although there were some reports of layoffs in manufacturing and energy industries. Labor market tightness was reported in four of the 12 districts. Firms from several districts continued to describe shortages for particular types of skilled labor, predominantly in the construction industry. Most districts cited only modest wage pressures aside from positions that required specialized skills or were in high demand.
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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