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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.
Construction Employment Rose in 23 States, Contracted in 23 States
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Robert Half Reports Third-Quarter Financial Results
Robert Half International News Release (10/21/15)
Robert Half International Inc. reported revenues of $1.31 billion for the third quarter of 2015, up 7.4% from $1.22 billion in the third quarter of 2014. Net income totaled $97 million, up 14.1% from $85 million in the year-ago quarter. Revenue for temporary and contract staffing in the U.S. was up 9.9% for the quarter.
“We continue to see healthy demand for our services across the board,” said Max Messmer, chairman and chief executive officer of Robert Half. “There is a widening skills gap in a number of professional specialty areas that has many employers struggling to find the talent they need.”
TrueBlue Reports Third-Quarter Results
TrueBlue News Release (10/21/15)
TrueBlue Inc. reported revenue of $684 million in the third quarter of 2015, up 8% from $633 million in the third quarter of 2014. Revenue from staffing services totaled $657 million, up 7.9% from $609 million.
“The demand for general labor and skill trades is strong,” said Steve Cooper, TrueBlue’s chief executive officer. “Businesses are searching for and finding the right mix of temporary and permanent workers to drive their businesses forward.”
Economic Expansion to Continue, but at Moderate Pace
Conference Board News Release (10/22/15)
The Conference Board Leading Economic Index for the U.S. declined 0.2% in September to 123.3. The index was unchanged in August.
“Despite September’s decline, the U.S. LEI still suggests economic expansion will continue, although at a moderate pace,” says Ataman Ozyildirim, director of business cycles and growth research at the Conference Board. “The U.S. economy is on track for moderate growth of about 2.5% in the coming quarters, despite the mixed global economic landscape.”
The Conference Board Coincident Economic Index for the U.S. increased 0.2% in September to 112.8, following a 0.1% increase in August. The Conference Board Lagging Economic Index for the U.S. increased 0.5% in September to 119.0, following a 0.1% increase in August.
U.S. Jobless Claims Rise Slightly
MarketWatch (10/22/15) Greg Robb
The number of people applying for unemployment benefits rose by 3,000 to 259,000 in the week ended Oct. 17, according to the U.S. Department of Labor. Economists polled by MarketWatch had forecast claims of 265,000. The four-week average of new claims fell to a seasonally adjusted 263,250 from 265,250.
Staffing World® 2015 Is Almost Here—Tomorrow Is the Last Day to Preregister
Staffing World, the ASA annual convention and expo, is the largest, most comprehensive convention and expo in the staffing, recruiting, and workforce solutions industry. Each year, thousands of industry executives, professionals, leaders, and innovators convene for this must-attend event. This year’s event takes place next week—Oct. 27–29 at the Gaylord Opryland Resort & Convention Center in Nashville, TN.
If you’ve already registered, check your email for a personalized QR code that you can scan at the express registration kiosk to receive your name badge.
If you haven’t registered yet, visit staffingworld.net for details and to register today.
Bob Livonius to Be Inducted Into ASA Leadership Hall of Fame
Bob Livonius, a staffing industry veteran and former chairman of the American Staffing Association board of directors, will be inducted into the ASA Leadership Hall of Fame Oct. 27 during the opening general session of Staffing World 2015 in Nashville, TN. The award was created in 1985 to recognize outstanding individual contributions made through dedicated service to ASA and the staffing industry.
A 24-year veteran of the staffing industry, Livonius was an executive at two large staffing firms—chief operating officer of Spherion for 12 years and as chief executive officer of Medfinders for seven years. Livonius served as AMN Healthcare’s president strategic workforce solutions until he retired earlier this year. Livonius was elected to the ASA board of directors in 2007 and served as ASA chairman in 2013. Over the years he was chairman and a member of several ASA committees and taskforces, including the ASA health care section policy council. Livonius led the development of standards for health care staffing firms, as well as best practices for using vendor management systems and managed service providers.
“Bob Livonius is most deserving of his induction into the ASA Leadership Hall of Fame, and I am delighted to welcome this visionary leader, colleague, and friend into the ranks of this prestigious group of industry leaders,” said Richard Wahlquist, ASA president and chief executive officer. “One of Bob’s most enduring qualities is how passionate he has been and continues to be about giving back to the industry that he loves—this passion has been reflected in the numerous volunteer and leadership roles he held within ASA over many years. His contributions to ASA and the staffing industry as a whole are wide reaching and profound. He has helped to elevate and advance our industry, and everyone associated with it, in countless ways.”
Embrace the Data-Based Selling Process—Read Staffing Success Magazine
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The California Court of Appeal Broadens Anti-Retaliation Rules for Employers
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