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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.
June Jobs Report: Wage Growth Continued to Cool
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Employment Trends Index Decreased in June
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Fewer Americans Are Changing Jobs
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Staffing World Session and Speaker Details Are Live—Register to Save Your Spot
Get ready for the ASA annual convention and expo, Staffing World® 2024, in Nashville, TN, Oct. 22–24—it’s the industry’s largest growth-focused learning and networking event.
Get information about the inspiring keynote presentations and informative educational sessions, presented by some of the most knowledgeable professionals in the industry, planned for this year’s event at the Gaylord Opryland Resort and Convention Center, then register at staffingworld.net to secure your seat and join this thriving community of the industry’s best, brightest, and most dedicated thought leaders.
Get Accelerated Education With Staffing Pro Stacks
ASA offers a new, effective way to get your firm on an upward trajectory in just nine weeks. Staffing Pro Stacks, its new professional development program, is a first-of-its-kind intensive credentialing program expertly designed by the best trainers in the industry to tackle your company’s biggest challenges. The program addresses specific pain points that staffing companies are struggling with right now.
There are three programs—focused on Sales, Recruiting, and Leadership. Complete one, two, or all three programs and stack your knowledge for maximum success. Additional programs will be released in the coming year.
Find out more at americanstaffing.net/pro-stacks. ASA members get a discount. Plus, through July 31 save 20% on ASA certification exam packages, a la carte study materials, ASA Pro Stacks, and other professional development products.
Staffing Agencies—Beware of Payrolling Scam
ASA has been advised of an alleged payrolling scam in Illinois aimed at staffing agencies. In one reported case, a person claiming to be the owner of an Illinois-based woodworking company allegedly contacted the staffing agency asking that the agency payroll several individuals who were supposedly employees of the woodworking company, but in fact were random individuals whose identities the scammer had stolen.
The scammer supplied the staffing agency with bank account numbers ostensibly belonging to the “employees” but which apparently were accounts the scammer set up to receive the wage payments. The scammer authorized the agency to process an ACH payment to cover the payroll, but immediately reversed the transaction once the agency paid the wages, leaving the agency out of pocket for the amounts paid. At least one other staffing agency reportedly has been the subject of a similar scam.
Staffing agencies should be on the lookout for such scams and report suspicious or fraudulent activity to their local law enforcement agency.
FTC Says Gig Company Arise Misled Consumers About How Much Money They Could Make on Its Platform
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NLRB ALJ Finds Post-Employment Noncompete and Nonsolicit Provisions Unlawful
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Oregon OSHA Reminds Employers to Protect Workers From Potential Dangers of Heat Illness
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Washington State Bans Captive Audience Meetings
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Hair Length Discrimination Banned in Colorado
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Louisiana Becomes Latest State to Prohibit Nondisclosure Clauses Related to #MeToo Claims
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Construction Firms Add 27,000 Jobs in June
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New Data Shows U.S. Employers and Workers at Odds on Skills Development
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