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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.
Retailers Work Harder to Lure Holiday Employees
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Insperity Announces Strong Third-Quarter Results
Insperity (11/02/2015)
Insperity Inc. reported revenues of $626.2 million for the third quarter of 2015, up 11.8% from $560.3 million in the third quarter of 2014. Net income totaled $12 million, up 42.5% from $8.4 million in the year-ago quarter.
BG Staffing Inc. Announces Third Quarter Financial Results
BG Staffing Group News Release (11/02/15)
BG Staffing Inc. reported third-quarter revenues of $60.2 million, up 25.3% from $48.0 million in the year-ago quarter. Net income was $2.2 million, up from $0.4 million in the year-ago quarter.
“Our results were bolstered by the March acquisition of D&W Talent and strong growth in all of our segments,” said L. Allen Baker Jr., president and chief executive officer.
ASA Concludes Successful Convention; Names 2016 Leaders
At the annual membership meeting held last week during Staffing World®, the ASA annual convention and expo, association members elected eight directors:
Susan Dietrich, SPHR, AllTek Staffing & Resource Group Inc.
W. Benjamin “Ben” Elliott, Randstad General Partners (U.S.) LLC
Lesa Francis, CSP, Staffmark
Tom Gimbel, LaSalle Network
Karenjo Goodwin, Exact Staff Inc.
Dan Struve, CSP, Helpmates Staffing Services
Mark Toth, CSP, ManpowerGroup
Steve Wehn, AMN Heathcare
The board approved the chairman’s appointment of two directors:
Tom Bickes, EmployBridge
Chris Hartman, Allegis Group
The board elected officers:
Lesa Francis, CSP, Staffmark, chairman
Susan Dietrich, SPHR, AllTek Staffing & Resource Group Inc., first vice chairman
Kelly McCreight, CSP, Hamilton-Ryker Co., second vice chairman
Karenjo Goodwin, Exact Staff Inc., treasurer
Peter Quigley, Kelly Services Inc., secretary
ASA thanks outgoing board member Dan Campbell, CSP, Hire Dynamics, for his many contributions and outstanding service to the association.
Other directors currently serving on the board are Threase Baker, CSP, TSC, Abbtech Professional Resources Inc.; Jeff Bowling, Delta Cos.; Jeffrey S. Burnett, CSP, Labor Finders International Inc.; John A. Elwood, CSP, Elwood Staffing Services Inc. (immediate past chairman); James A. Essey, CSP, TemPositions Group of Cos.; Robert A. Funk, Express Employment Professionals; Kristen Harris, CSP, Portfolio Creative; Greg Holland, Adecco Group North America; Dane Reese, CSP, PeopleAxiom; Leo Sheridan, Advanced Group; and Dan Thomson, CHG Healthcare Services Inc. Representatives from 12 independent firms and 12 national companies serve on the board of directors. For brief bios, visit americanstaffing.net.
Despite New NLRB Standard, Asbestos Remover Not Joint Employer With Staffing Firm
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Kansas Workers’ Compensation Insurance Rates Expected to Drop About 12%
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Nebraska Workers’ Compensation Maximum Income Benefit Increases
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Refresher: Wage and Hour Law in Idaho
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How to Deal With Hungover Employees
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