Minneapolis-based Versique Search and Consulting has acquired St. Paul, MN-based Midwest Financial Search in order to boost its presence in the banking and financial services sector. Midwest Financial Search specializes in placing executives and others at banks and financial institutions. Financial terms of the deal were not disclosed.
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.
Richmond Fed: Manufacturing Activity Improved in January
Mid-Atlantic manufacturing activity rebounded in January, according to the Federal Reserve Bank of Richmond. The composite index rose from -5 in December to 20 in January, as all three components—shipments, new orders, and employment—increased. Local business conditions also improved as this index saw its largest increase since February 2013. Manufacturers were optimistic that conditions would continue to strengthen in the coming months.
Both employment and wages rose in January. However, firms continued to struggle to find workers with the necessary skills. They expected this difficulty to persist but wages and employment to continue to grow in the next six months.
Free ASA Webinar Tomorrow—Background Checks
Don’t miss tomorrow’s ASA webinar “An In-Depth Conversation on Background Check Compliance,” 2–3:30 p.m. Eastern time. Find out what you need to know when performing background checks on candidates and employees—including how to use social media for hiring.
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.
Get Your Staffing Benchmarks and Projections
The association’s quarterly Staffing Employment and Sales Survey for the fourth quarter of 2019 is now open. Staffing companies that complete the brief survey by Feb. 21 receive an exclusive report on the results, which includes gross margin and sector-level data—and newly added projections for year-end 2019.
Register to take the survey, or view the questionnaire, at americanstaffing.net/quarterly-survey. There are no fees to participate.
ASA Publishes Issue Paper on Marijuana and the Workplace
ASA has published an issue paper to help members navigate the myriad state medical and recreational marijuana laws and the impact these laws have on the workplace. The paper, by Diane J. Geller and Joseph McNelis III of Fox Rothschild LLP, provides updated information on the laws regarding marijuana and seeks to help employers with the difficult balance between complying with state laws and maintaining a safe workplace free from employees who are under the influence of marijuana.
Antiraiding Provision Upheld by Massachusetts High Court
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Construction Company and Staffing Firm Scheme to Deceive Homeland Security, Illegally Employ Undocumented Workers
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California Court of Appeal Holds That an Employer May Rely on Employee’s Promise Not to Compete
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Seventh Circuit Issues New Standard on Class Notice to Employees Who Signed Arbitration Agreements
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Ohio Eighth District Court of Appeals Reverses Enforcement of Employment Arbitration Agreement
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‘Ban the Box’ Set to Apply to Employers in the City of St. Louis
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Are Employees With Alcoholism and Substance Use Disorder Protected Under the ADAAA?
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Younger Generations Take More Risks in Salary Negotiations Than Older Colleagues
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