Command Center Inc. News Release (11/16/15)
Command Center Inc. reported revenues of $24.9 million for the third quarter of 2015, down 10.5% from $27.7 million in the third quarter of 2014. Net income totaled $820,000, down from $6 million in the year-ago quarter. The company recorded a one-time tax benefit in the third quarter of 2014.
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.
Cincinnati Business Courier (11/13/15) Erin Caproni
Light industrial staffing firm BelFlex Staffing Network has acquired Palmer Temps Inc. The two greater-Cincinnati firms have not disclosed the terms of the deal.
Federal Reserve Bank of New York (11/16/15)
Business activity declined in October for a fourth consecutive month for New York manufacturers, according to the Federal Reserve Bank of New York. The headline general business conditions index was little changed at negative 10.7. New orders and shipments also declined, although at a slower pace than in September.
Labor market conditions continued to deteriorate, with survey indicators pointing to a decline in both employment levels and hours worked. The index for number of employees was little changed at negative 7.3, a sign that employment levels fell for a third consecutive month, and the average workweek index moved down seven points to negative 14.6, its lowest level since mid-2011.
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The ASA Why Staffing? video succinctly answers this vital question by summing up how staffing benefits clients, job seekers, and the general public. Visit americanstaffing.net/videos to view it.
Don’t miss tomorrow’s ASA webinar “Developing a Culture of Accountability Within Your Staffing Firm,” 3–4 p.m. Eastern time. Find out what leaders at all levels can do to enhance the value and importance of accountability inside their staffing company.
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.
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