Business Wire (11/02/15)
Charlotte, NC-based talent solutions company ettain group has acquired Dallas-Fort Worth-based information technology staffing firm Timberhorn IT Solutions.
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.
U.S. Manufacturing Activity Expands at Slowest Pace in Two Years
Wall Street Journal (11/02/15) Harriet Torry
Manufacturing expanded at its slowest pace in more than two years in October, according to the Institute for Supply Management. The ISM’s manufacturing purchasers managers index declined from 50.2 in September to 50.1 in October. A reading above 50 indicates expansion.
Manufacturers are “not in a robust growth mode,” says Bradley Holcomb, who oversees the ISM survey. “It’s a little bit of wait and see.” Although overall manufacturing activity has grown for 34 consecutive months, the pace of growth has contracted for four months in a row.
Some economists say an increase in new orders indicate manufacturers may be recovering from their slowdown. Data from Markit Economics released yesterday shows manufacturing activity rose to a six-month high in October.
Construction Spending Sees Strong Year-to-Year Gains in September, but Worker Shortage Continues
Associated General Contractors of America News Release (11/02/15)
Construction spending in September reached a new seven-year high and climbed at the fastest rate since early 2006, according to the Associated General Contractors of America. However, total spending on nonresidential construction declined between August and September as growing workforce shortages likely affected the amount of work firms were able to do for the month.
“Overall demand for construction continues to grow at a very robust rate,” says Ken Simonson, the association’s chief economist. “It appears, however, that many firms performing private nonresidential work could not find enough qualified workers in September to keep pace with growing demand.”
Eighty-six percent of firms responding to a recent association survey reported they are having a hard time finding qualified workers to fill available positions, association officials noted. As a result, many firms likely are struggling to find enough staff to keep pace with the growing demand for construction services, prompting the slight drop in monthly construction spending in the private nonresidential sector, the officials added.
Free ASA Webinar This Month—Achieving Accountability
One of the biggest challenges for leaders today is their inability to hold teammates accountable. Find out what leaders at all levels can do to enhance the value and importance of accountability inside their staffing company during the ASA webinar “Developing a Culture of Accountability Within Your Staffing Firm.” It takes place Tuesday, Nov. 17, 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.
Cal/OSHA Wins Unprecedented Decision in Case Protecting Workers From Indoor Heat
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J&J Snack Foods Pays More Than $2.1 Million in Back Wages, Damages to 677 Temporary Workers
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Refresher: Hiring and Wage and Hour Law in Oklahoma
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Fifth Circuit Denies NLRB’s Second Attempt to Ban Class Action Waivers
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The Pitfalls of Holiday Hiring: What Not to Ask on an Employment Application in California
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Hard-to-Fill Jobs and the Skills Gap Paradox
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