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McNally Capital Announces Investment in Re-Sourcing Holdings

McNally Capital has invested in New York City-based Re-Sourcing Holdings, a provider of strategic staffing, consulting, and direct hire solutions, focusing on compliance, legal, information technology, finance and accounting, and human resource jobs. Re-Sourcing serves clients through six brands: JW Michaels & Co., Compliance Risk Concepts, ExecuSource, Perennial Resources International, Partnership Employment, and Technology Navigators.

McNally Capital and Re-Sourcing Holdings are actively seeking add-on opportunities, specifically targeting lower mid-market temporary staffing firms in primary, secondary, and tertiary cities in the U.S. Among others, Jeff Bowling, founder and former chief executive officer of the Delta Cos., a Dallas-based staffing firm, participated alongside McNally Capital in the due diligence process and as a co-investor in the transaction.

Industrial Output Falls in December

Industrial production declined 0.3% in December, the third drop in the past four months, according to the U.S. Federal Reserve. Wall Street had anticipated the 0.3% decline. For the fourth quarter as a whole, industrial production declined at a 0.5% annual rate. Production retreated in three of the four quarters of 2019. Output was down 1.0% for the year.

Manufacturing output advanced 0.2% in December, but was down at a 1.0% rate for the fourth quarter. The increase in December came despite a 4.6% decline in output of motor vehicles and parts. Mining output rose 1.3% in December, while utility output declined 5.6% as warmer weather cut into the demand for home heating.

Capacity utilization dropped to 77% in December, the second lowest reading in 27 months. Capacity utilization remains below prerecession levels—above 80%—that economists say could fuel production costs and prices.

Free ASA Webinar This Month—Background Checks

Employers need to know the issues they could face when performing background checks on candidates and employees. Find out how to use social media for hiring, comply with applicable laws, and more during the ASA webinar “An In-Depth Conversation on Background Check Compliance.” It takes place Thursday, Jan. 30, 2–3:30 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

Staffing Today Returns Jan. 21

In observance of Martin Luther King’s Birthday, ASA headquarters will be closed Monday, Jan. 20. Staffing Today will return Tuesday, Jan. 21.

Welcome New ASA Members

The ASA board of directors and staff welcome the following new members, which joined during the week ending Jan. 12.

Inteligente Solutions LLC
Livonia, MI

Performance Personnel Partners
Tampa, FL

Viridian Staffing
Seattle, WA

The Xela Group
Reston, VA