According to last years results the staffing services, or PEO business, accounted for less than 10% of WHC revenues and operated at a loss. Will WHC seriously expand this business? It could be a time to acquire others at distressed levels. A solid canidate might be STFF. Such a merger would leap WHC to the front of PEO's nationwide and give balance to the heavy corrections business. In addition WHC might be able to cross sell some of it's protection business to the small businesses that engage in employee leasing. Any thoughts?
Daniel...The Wackenthunt Resoures that is involved in staffing services is part of the Wackenthunt Corporation (WAK and WAKB), parent company of the Wackenthunt Correction Company (WHC), the article is very confusing and inorrectly includes (WRI) The Weingarten Realty Investor Corp. for some unknown reason. Hope this makes the article clear.
Thanks ManB... Not sure what article you speak of but the confusion regarding WHC and WAK is understandable. I did find the reference to staffing services under the SEC filings for WHC so I assumed that they held the staffing assets. Any furthur elaboration would be appraciated. d.