January 30, 2020

AMN Healthcare to Acquire Stratus Video

Published January 30, 2020 ■ Headline News

AMN Healthcare Services Inc., a provider of health care talent solutions and staffing services, has announced a definitive agreement to acquire Clearwater, FL-based Stratus Video for $475 million. Stratus Video is a provider of video remote language interpretation services for the health care industry, and employs a network of more than 3,000 interpreters. The acquisition is expected to be immediately accretive to AMN’s adjusted earnings per share.

“This acquisition is the result of our continued efforts to positively impact patient care through innovative total talent solutions,” said Susan R. Salka, AMN Healthcare chief executive officer. “We believe Stratus will add great value to our clients and their patients and will provide further opportunity for us to expand in the virtual workforce and patient care arena.”

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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.

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Economy Grows in the Fourth Quarter as GDP Gets Boost From Dropping Trade Deficit

Published January 30, 2020 ■ Headline News

The economy grew a bit faster than 2.0% in the fourth quarter of 2019, aided by a temporary decrease in imports and a resurgent housing market. Gross domestic product rose at a 2.1% pace. Analysts surveyed by MarketWatch had forecast a 1.9% rise.

GDP reached 3.1% in the first quarter of 2019, but growth waned to about 2.0% after the trade war with China intensified and business investment declined.

The view of the economy toward the end of 2019 offers a glimpse of what could be in store for 2020. Consumer spending has driven a record expansion now in its 11th year even as companies have reduced investment and production. Those trends are likely to continue.

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Fed Leaves Key Interest Rate Unchanged, and Is Keeping a Close Eye on Coronavirus

Published January 30, 2020 ■ Headline News

The U.S. Federal Reserve on Wednesday voted unanimously to keep its benchmark fed-funds rate steady in a range between 1.5% and 1.75%. The central bank said the labor market remains strong, growth is being helped by consumer spending, and inflation is still below the 2.0% target. Fed chairman Jerome Powell suggested the central bank’s rate-setting committee is likely to remain on hold for quite some time, assuming little changes in current trends.

The Fed also said it is closely monitoring the severity of the deadly coronavirus and the potential for the illness to disrupt the global economy.

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Free ASA Webinar Today—Background Checks

Published January 30, 2020 ■ ASA for You

Don’t miss the ASA webinar “An In-Depth Conversation on Background Check Compliance.” It takes place today from 2 to 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.

Help Clients Understand Their Joint Employment Obligations

Published January 30, 2020 ■ ASA for You

Are your clients confused about the various laws and rules pertaining to joint employment in third-party staffing arrangements? ASA offers a collection of resources to help staffing companies address client concerns.

The ASA Joint Employment Tool Kit includes a fact sheet about co-employment (the relationship between a staffing firm and its client in which each has legal rights and duties with respect to the same employees), a sample letter to clients on the topic of joint employment, model contract documents, and more. It’s free to ASA members.

The Latest From Your Colleagues on ASA Central

Published January 30, 2020 ■ ASA for You

ASA Central—the dynamic online community just for staffing professionals—is home to more than 20,000 staffing professional profiles and countless ongoing industry conversations.

This week, take a look at your colleagues’ discussions and some of the blogs they’ve posted on ASA Central:

Get involved with the community—update your profile today so you can network with colleagues, join a section community, recommend and comment on your colleagues’ posts, and share your own blog or discussion post. Log in to ASA Central now.