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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.
Despite High Unemployment, Companies Still Struggling With Employee Turnover
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Employees Who Refuse to Work Under Unsafe Conditions May Be Eligible for CARES Act Unemployment Benefits
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Pledge to Return to Work Safely
As part of a global endeavor to help employees return safely to work amid the pandemic, ASA launched the Safely Back to Work initiative. The initiative and americanstaffing.net/safelybacktowork website are based on the association’s work with the World Employment Confederation, Adecco Group, ManpowerGroup, and Randstad NV.
Take advantage of safety-focused resources, and take the Safely Back to Work Pledge to show your company’s commitment to the health and welfare of your corporate and temporary and contract employees.
Once you submit your pledge, your name and company name will appear in a real-time leaderboard on the page. Share your commitment on social media channels and encourage your colleagues to do the same.
CEO Optimism Ticks Up In August, As More Businesses Predict A 2021 Recovery
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Employees Have Used Up Their FFCRA Child Care Leave, but School’s Not Reopening. Now What?
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Who Should Pay for Covid-19 Testing in the Workplace?
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CDC Issues Covid-19 Communication Plan for Critical Infrastructure Employers
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July’s New Job Postings Climbed 3% Above Pre-Covid Levels
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ASA Advocates for Business Protection, UI Reform, and PPP Forgiveness
Over the past several months, ASA has advocated for Congress to act aggressively and provide liability protection for businesses, unemployment insurance relief for employers, and PPP loan forgiveness for small businesses.
ASA, along with nearly 500 business groups including the U.S. Chamber of Commerce, has urged Congress to pass temporary liability relief provisions in the next Covid-19 relief bill. This effort is crucial to ensuring that staffing firms and other businesses receive protection against unwarranted and inequitable liability lawsuits after they begin to open brick-and-mortar operations.
As businesses continue to deal with the fallout of the pandemic, a top concern for employers is unemployment insurance. ASA has been urging Congress to explore alternatives to the $600 per week in additional benefits awarded and has requested the transfer of federal funds to state unemployment insurance trust funds equal to the amount of benefits paid due to Covid-19.
ASA and nearly 150 other trade associations urged passage of HR 7777, the Paycheck Protection Program Small Business Forgiveness Act. This bipartisan legislation would forgive all PPP loans of less than $150,000 upon the borrower’s submission of a simple document.
Negotiations between the House, Senate, and White House on these issues appear to be at a standstill, but discussions are continuing. Given everything that is at stake, and the fact that there will be an election in less than 100 days, it looks like some agreement will be reached in the coming weeks that will address all three issues. The timing and the total amount of the eventual compromise is still very much in the air.