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) April 8, 1997
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BARRETT BUSINESS SERVICES, INC.
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(Exact name of registrant as specified in its charter)
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Maryland 0-21886 52-0812977
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(State or other jurisdiction (Commission File (IRS Employer
of incorporation) Number) Identification No.)
4724 SW Macadam Avenue, Portland, Oregon 97201
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(Address of principal executive offices) (Zip Code)
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Registrant's telephone number, including area code (503) 220-0988
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Item 5. Other Events.
On April 8, 1997, Barrett Business Services, Inc. ("Barrett")
reported that its farm and forest labor contractor license had been revoked by
the State of Oregon through a default judgment received on April 4, 1997. The
license revocation included civil penalties of $488,000. The State's action is
based upon allegations that Barrett violated certain requirements imposed on
farm and forest labor contractors. The effect of the license revocation is to
preclude Barrett from conducting business with certain customers, which
represented approximately $4.0 million of Barrett's 1996 revenues of $215.8
million, or less than two percent.
Barrett had previously disclosed that it had received a notice
from the State outlining certain purported deficiencies primarily related to
written documentation evidencing that the terms and conditions of employment and
workers' rights and remedies had been properly communicated to employees.
The State's assertions prevailed through a default judgment as
a result of the failure by one of Barrett's law firms to file a response to the
notice within the prescribed 20-day period. Barrett believes that the State's
allegations are substantially without merit and intends to promptly pursue
administrative relief of the default judgment.
Accompanying this report as Exhibit 99 is a copy of the news
release, dated April 8, 1997, in which Barrett announced the revocation of its
farm and forest labor contractor license and the assessment of $488,000 in civil
penalties.
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Item 7. Financial Statements and Exhibits.
(c) Exhibits
Exhibit 99 News Release of Barrett Business
Services, Inc., dated April 8, 1997
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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: April 9, 1997 Barrett Business Services, Inc.
By: /s/ Michael D. Mulholland
Michael D. Mulholland
Vice President - Finance
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EXHIBIT INDEX
Exhibit
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99 News Release of Barrett Business Services, Inc., dated April 8, 1997
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NEWS RELEASE
For Immediate Release
Contact: William W. Sherertz
President and
Chief Executive Officer
Telephone: (503) 220-0988
BARRETT BUSINESS SERVICES, INC.
ANNOUNCES ADMINISTRATIVE PENALTIES
PORTLAND, OREGON, April 8, 1997 - Barrett Business Services,
Inc. (Nasdaq trading symbol: "BSSI") announced today that its farm and forest
labor contractor license has been revoked by the State of Oregon through a
default judgment. The license revocation included civil penalties of $488,000.
The State's action is based upon allegations that Barrett violated certain
requirements imposed on farm and forest labor contractors.
The Company had previously disclosed that it had received a
notice from the State outlining certain purported deficiencies primarily related
to written documentation evidencing that the terms and conditions of employment
and workers' rights and remedies had been properly communicated to employees.
The State's assertions prevailed through a default judgment as
a result of the failure by one of the Company's law firms to file a response to
the notice within the prescribed 20-day period.
Commenting on the situation, President and Chief Executive
Officer William W. Sherertz stated that, "We believe the State's allegations are
without merit, and due to an error, we apparently will not have the opportunity
to defend our company and our customers. The State did not allege any
mistreatment or abuse of employees. The fines were levied for the alleged lack
of proper written documentation; it's simply a matter of whether or not we have
the paperwork -- and we do. We will continue to vigorously seek an equitable
resolution."
Barrett Business Services, Inc., is a human resource
management company with offices in Washington, Oregon, Idaho, California,
Arizona, Michigan, Maryland, and Delaware. Barrett reported revenues of $215.8
million and net income of $5.0 million for 1996.
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