Korn/Ferry International News Release (09/23/15)
Korn Ferry has entered into a definitive agreement to acquire Hay Group. The deal is expected to close before the end of 2015.
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.
CorTech Acquires Assets of RecruitPro Inc.
CorTech News Release (09/22/2015)
CorTech, an Atlanta-based global staffing operation, has acquired La Jolla, CA-based RecruitPro Inc. Terms of the deal were not disclosed.
Thomas H. Lee Buys Majority Stake in Healthcare Staffing Services
LBO Wire (09/23/15)
Thomas H. Lee Partners plans to acquire a majority stake in Healthcare Staffing Services LLC from health care investor Altaris Capital Partners. HSS last year bought Fastaff Travel Nursing and U.S. Nursing Corp., which had been part of travel nurse-staffing company Reliant Healthcare Professionals Inc.
Richmond Fed: Manufacturing Sector Activity Generally Softened
Federal Reserve Bank of Richmond (09/22/15)
Fifth District manufacturing activity slowed in September, according to the the Federal Reserve Bank of Richmond. The composite index for manufacturing decreased to a reading of -5, following August’s reading of 0. The index for shipments remained negative, only gaining one point to end at -3. Additionally, the volume of new orders decreased this month. At an index of -12, the September indicator lost 13 points from last month’s reading of 1.
Manufacturing employment increased mildly this month. The indicator added two points, ending at a reading of 3. However, the average workweek indicator dropped sharply to a reading of -12 from a reading of 3, while the gauge for average wages remained at a solid reading of 15 for a second month. Firms planned to increase hiring in the months ahead, with the expectations index gaining seven points from last month’s index for expected employment to end at 26.
Durable-Goods Orders Drop 2% in August
MarketWatch (09/24/15) Jeffry Bartash
Orders for durable goods declined a seasonally adjusted 2% in August, according to the U.S. Department of Commerce, largely because of fewer bookings for automobiles and aircraft. That was in line with the 2% decline forecast by economists surveyed by MarketWatch. Orders for core capital goods fell 0.2%. Shipments of core capital goods also declined 0.2%.
U.S. Jobless Claims Rise 3,000 to 267,000
MarketWatch (09/25/15) Greg Robb
The number of people applying for unemployment benefits in the week ended Sept. 19 rose by 3,000 to 267,000, according to the U.S. Department of Labor, indicating a healthy labor market. Economists surveyed by MarketWatch had forecast claims of 275,000. The four-week average of new claims fell by 750 to a seasonally adjusted 271,750, the lowest level in a month.
What’s Trending on ASA Central Right Now
This content is for ASA members only.
If you’re already a member, please sign in to read more.
Free ASA Webinar Next Month—Improving Diversity in the C-Suite
When one staffing firm’s leaders noticed that some of the company’s top performers were women but that there were disproportionately fewer females than males in top positions, they wanted to find out why. Hear what TrueBlue executives learned from female leaders, and how your firm can improve diversity at the highest levels, during the ASA webinar “Encouraging Women to Lead.” It takes place Monday, Oct. 5, 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.
Oregon Workers’ Compensation Premiums Drop for Third Year in a Row
This content is for ASA members only.
If you’re already a member, please sign in to read more.
Washington State Proposes 2% Rate Increase to Workers’ Compensation
This content is for ASA members only.
If you’re already a member, please sign in to read more.
Refresher: Hiring and Wage and Hour Law in Kentucky
This content is for ASA members only.
If you’re already a member, please sign in to read more.
Home