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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.
GDP Sinks in First Quarter and Worst Is Yet to Come
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Richmond Fed: Manufacturing Activity Down Significantly in April
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Coronavirus Relief Often Pays Workers More Than Work
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G4S to Hire More Than 15,000 Employees
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Free ASA Webinar Today—Company Growth in Challenging Times
Don’t miss the ASA webinar “The Four S’s of Growing Your Company in Changing Times.” It takes place today from 2 to 3 p.m. Eastern time. Even in a changing environment, it’s possible to increase sales and grow your company—learn about the key elements for growth and get strategies you can put in place today.
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.
Free ASA Webinar Tomorrow—Adapting to Remote Work
Don’t miss tomorrow’s ASA webinar “Everybody Got Sent Home…Now What? How to Manage Remote Workers,” 12 noon–12:45 p.m. Eastern time. Get tips on keeping remote teams productive, providing structure, and managing workers remotely.
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 first quarter of 2020 is now open. Staffing companies that complete the brief survey by May 15 receive an exclusive report on the results, which includes gross margin and sector-level data.
Register to take the survey, or view the questionnaire, at americanstaffing.net/quarterly-survey. If you have questions or did not receive a survey link, email research@americanstaffing.net. There are no fees to participate.
PPP Loan Eligibility in Temporary Staffing Arrangements
Confusion persists as to whether staffing agencies or their clients should claim the agency’s temporary employees in determining loan eligibility under the Paycheck Protection Program of the Coronavirus Aid, Relief, and Economic Security (CARES) Act.
In a previous issue paper, ASA discussed the general rule that, as the common law employer of temporary employees, only the staffing agency should claim those employees for PPP purposes, not the client. In a revised issue paper, ASA counsel Marc J. Gerson of Miller & Chevalier points out that the issue of which party can claim the employees has not been addressed in the CARES Act or in guidance from the U.S.
Small Business Administration; and that, in the absence of guidance, clients may have a legal basis for also claiming the employees for PPP purposes, provided the staffing agency and client do not both claim the same employees.
U.S. Department of Labor Issues Covid-19 Relief and Guidance for Employee Benefit Plans
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New Version of Form I-9 Is Required on May 1
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Navigating Employer Obligations to Provide Employees With Masks, Face Coverings
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Now More Than Ever, California Employers Need to Stay Abreast of Working Time and Control Issues
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Illinois Workers’ Compensation Emergency Rules Establishing Rebuttable Presumption for Covid-19 Have Been Withdrawn
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Construction Employment Declines in Many Metro Areas in March
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