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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (date of earliest event reported) March 20, 1995
BARRETT BUSINESS SERVICES, INC.
(Exact name of registrant as specified in its charter)
Maryland 0-21886 52-0812977
(State or other jurisdiction (Commission File (IRS Employer
of incorporation) Number) Identification No.)
4724 S.W. Macadam Avenue, Portland, Oregon 97201
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (503) 220-0988
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Item 5. Other Events.
On March 20, 1995, Barrett Business Services, Inc. (the "Company")
reported that it had obtained self-insured employer status for workers'
compensation purposes in the state of California.
The Company also reported that an employee had recently sustained a
serious work-related injury, which pursuant to Barrett's self-insured
workers' compensation arrangements will result in a pre-tax charge of
$350,000 for workers' compensation expense in the first quarter of 1995.
Accompanying this report as Exhibit 99 is a copy of the news release,
dated March 20, 1995 in which Barrett Business Services, Inc. reported the
foregoing events.
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Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(c) Exhibits
Exhibit 99 News Release of Barrett Business Services,
Inc. dated March 20, 1995.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of
1934, the Registrant has duly caused this Report to be signed on its behalf
by the undersigned thereunto duly authorized.
DATED: March 23, 1995 Barrett Business Services, Inc.
By: /s/ Michael D. Mulholland
Michael D. Mulholland
Vice President-Finance
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EXHIBIT INDEX
Exhibit
99 News Release of Barrett Business
Services, Inc. dated March 20, 1995
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EXHIBIT 99
NEWS RELEASE
For Immediate Release
Contact: William W. Sherertz
President and
Chief Executive Officer
Telephone: (503) 220-0988
BARRETT BUSINESS SERVICES, INC.
ANNOUNCES SELF-INSURED STATUS
FOR CALIFORNIA AND ADDITIONAL
WORKERS' COMPENSATION CHARGE FOR
THE FIRST QUARTER OF 1995
PORTLAND, OREGON, March 20, 1995 - Barrett Business Services, Inc.
(Nasdaq trading symbol: "BBSI") reported today that it has obtained self-
insured employer status for workers' compensation purposes in the state of
California. Self-insured status is an important element of the Company's
strategic growth opportunities to expand its professional employer services
in California.
The Company also announced that an employee recently sustained a serious
crippling injury, which pursuant to Barrett's self-insured workers'
compensation arrangements will result in a pre-tax charge of $350,000 for
workers' compensation expense in the first quarter of 1995. The Company
maintains excess insurance coverage with a private carrier for losses in
excess of $350,000, thereby limiting Barrett's financial exposure.
Barrett is the largest provider of temporary staffing and professional
employer services in Oregon with thirteen offices throughout the State. The
Company also has five offices in California, three offices in each of
Maryland and Washington and one office in Delaware. Barrett reported
revenues of $140.6 million for 1994.
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