September 9, 2015

Korn Ferry International Announces First-Quarter Fiscal 2016 Results

Published September 09, 2015 ■ Headline News

Korn/Ferry International News Release (09/08/15)

Korn/Ferry International reported revenue of $279.3 million in the first quarter of fiscal 2016, up 7.3% from $260.3 million in the first quarter of fiscal 2015. Net income totaled $23.1 million, up 59.3% from $14.5 million in the year-ago quarter.

By segment, first-quarter revenue totaled $158 million for executive recruitment, up 2.5% from $154.2 million on a year-to-year basis; $71.4 million for leadership and talent consulting, up 9.2% from $65.4 million; and $49.9 million for Futurestep, up 22.6% from $40.7 million.

Read the full story

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.

Read the full story

Teamsters Win Election in Labor Case at Center of Recent NLRB Ruling

Published September 09, 2015 ■ Headline News

Los Angeles Times (09/04/15) Shan Li

Employees at the Milpitas, CA, recycling plant that was central to the U.S. National Labor Relations Board’s recent landmark ruling have voted in favor of being represented by the Teamsters union. Houston-based Browning-Ferris Industries had used a subcontractor, Leadpoint Business Services, to staff its recycling plant in Milpitas. The Teamsters had tried to organize the plant’s employees, and wanted to bring Browning-Ferris to the table as well. The case was appealed to NLRB, which decided last week that Browning-Ferris, which is part of Republic Services Inc., was a “joint employer” even though it didn’t directly hire or have immediate control over workers hired by Leadpoint.

“We’re elated because we can bargain for all workers,” says Ron Herrera, director of the Teamsters’ solid waste and recycling division. In the waste industry, temporary and permanent employees often work together.

Read the full story

Free ASA State of the Industry Webinar Next Week

Published September 09, 2015 ■ ASA for You

ASA and Inavero, an ASA corporate partner, will present the third ASA State of the Industry webinar of 2015 Thursday, Sept. 17, 3–4 p.m. Eastern time.

Inavero chief executive officer Eric Gregg will review data on what clients and candidates think of the staffing industry. ASA board member Jeff Bowling, CEO of the Delta Cos., will discuss how his company has improved its rating.

ASA director of research Cynthia Poole will review the results of the latest ASA Workforce Monitor, and ASA general counsel Stephen Dwyer will provide insight on the recent U.S. National Labor Relations Board ruling and how federal and state legislation could affect your business operations this year.

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.

Free ASA Webinar Tomorrow—Managing a Family-Owned Firm

Published September 09, 2015 ■ ASA for You

Don’t miss tomorrow’s ASA webinar “The Do’s and Don’ts for Family-Owned Staffing Firms,” 3–4 p.m. Eastern time. Hear from leaders of family-owned staffing firms about the business challenges specific to family-owned companies.

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.