Home | Business News | Browse by Publication | C | Crain's Detroit Business

This Just In.

Publication: Crain's Detroit Business
Publication Date: 23-MAY-05 		Format: Online
Delivery: Immediate Online Access
Full Article Title: This Just In.(Bankruptcy of Simplified Employment Services Inc., )

Article Excerpt
Unemployment fund lost $10M from SES bankruptcy

Michigan's unemployment-insurance trust fund is out nearly $10 million because of the bankruptcy of Simplified Employment Services Inc., the Michigan Unemployment Insurance Agency said Friday.

The agency has been investigating SES for avoiding the payment of state unemployment taxes - a practice known as SUTA, or State Unemployment Tax Act, dumping.

The agency, however, does not expect a return on the claims. In addition, the state's unemployment-insurance trust fund must absorb an additional $8 million in jobless benefits paid to former SES employees, who became unemployed when SES and its 11 affiliated companies became insolvent and shut down.

Auburn Hills-based SES, one of the nation's best-known professional employer organizations, filed for bankruptcy in 2001. Its remaining contracts were sold in June 2002 to Troy-based Troy Design Inc.

- Brent Snavely

State ranked friendliest to black business

Michigan has been ranked No. 1 among the "Friendliest States to Black Business,'' according to a report commissioned...

View this article FREE - Now for a Limited Time, try Goliath Business News
Free for 3 Days!



More articles from Crain's Detroit Business
Southwest Solutions gets $150,000 to manage housing.(News)(Southwest S..., May 23, 2005
Visitors Bureau, Growth Corp. to split Vegas booth.(News)(Detroit Metr..., May 23, 2005
In the spotlight.(People)(appointments)(Brief Article), May 23, 2005
Seeking Health Care Heroes.(News), May 23, 2005
Detroit area lags on jobs as rest of state gets better.(News), May 23, 2005

Looking for additional articles?
Search our database of over 3 million articles.

Looking for more in-depth information on this industry?
Search our complete database of Industry & Market reports by text, subject, publication name or publication date.

About Goliath
Whether you're looking for sales prospects, competitive information, company analysis or best practices in managing your organization, Goliath can help you meet your business needs.

Our extensive business information databases empower business professionals with both the breadth and depth of credible, authoritative information they need to support their business goals. Whether it be strategic planning, sales prospecting, company research or defining management best practices - Goliath is your leading source for accurate information.