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Economic gauge contracts

December 21, 2007

The growth rate for the Economic Cycle Research Institute's forward-looking gauge of the U.S. economy for the week ended Dec. 14 contracted 4.8%. ECRI's weekly leading index level fell to 136.2 from 137.9 in the prior period.

The growth rate and level can move in opposite directions because the index...

Hudson sells Dutch subsidiary

December 21, 2007

The Hudson Highland Group Inc. (NASD: HHGP) said it sold Dutch subsidiary Hudson Human Capital Solutions BV to Workx! Holding BV for $700,000 in cash and up to $300,000 more in future earn-outs. Workx! is controlled by the former Hudson management of this business.

Hudson said it will record a gain...

Resources Connection profit falls 11%

December 21, 2007

Second-quarter net income fell 11.1% at Irvine CA-based Resources Connection Inc. (NASD: RECN), which supplies finance and accounting staffing through its Resources Global Professionals subsidiary. The company posted net income of $13.0 million in the quarter ended Nov. 30, compared with $14.7 million...

U.S. leading index slips

December 20, 2007

The Conference Board reported the U.S. leading index of economic indicators fell 0.4% in November to 136.3. Based on revised data, the index fell 0.5% in October and rose 0.1% in September.

Three of the 10 indicators increased in November. They were vendor performance, average weekly manufacturing hours,...

Publisher plans to buy Staff Service Holdings

December 20, 2007

Recruit Co., a Tokyo-based publishing company, intends to acquire Staff Service Holdings, according to news reports. Staff Service, also based in Tokyo, is one of the largest staffing companies in Japan. And it operates more than 90 offices around the world including in the United States, United Kingdom...

CBS Personnel's owner buying Staffmark

December 20, 2007

Compass Diversified Holdings, owner of CBS Personnel Holdings, announced Wednesday it signed a deal to acquire Little Rock AR-based staffing firm Staffmark. Compass Diversified will invest approximately $80 million in cash to retire Staffmark's existing debt. Existing Staffmark shareholders will keep...

Comsys buys RPO provider

December 20, 2007

Comsys IT Partners Inc. (NASD: CITP) said Wednesday it acquired T. Williams Consulting, a Philadelphia-based recruitment process outsourcing and specialty human resources consulting services company that primarily serves customers in the Mid-Atlantic region. Terms of deal were not announced. Comsys said...

Volt profit up, staffing revenue down

December 20, 2007

Fourth-quarter net income rose 70.3% at Volt Information Sciences Inc. (NYSE: VOL). However, fourth-quarter staffing revenue fell 2.3% year-over-year, according to the company.

Volt reported net income of $23.1 million in the fourth quarter of 2007 compared with $13.6 million in the same period last...

Computer Horizons settles Chimes suit

December 20, 2007

Computer Horizons Corp. (OTCBB: CHRZ.PK) said Wednesday it settled a lawsuit with Axium International Inc. for $175,000. Axium purchased Computer Horizons' Chimes subsidiary in February 2007. The suit alleged "fraudulent conduct" and other allegations, according to a filing with the U.S. Securities and...

Unemployment claims rise by 12,000

December 20, 2007

In the week ended Dec. 15, the advance figure for seasonally adjusted initial unemployment claims was 346,000, an increase of 12,000, or 3.6%, from the previous week's revised figure of 334,000. The four-week moving average was 343,000, an increase of 4,250 from the previous week's revised average of...