UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities and Exchange Act of 1934

Date of Report (Date of Earliest Event Reported): December 7, 2007

CBIZ, INC.

(Exact Name of Registrant as Specified in its Charter)

Delaware (State or Other Jurisdiction of Incorporation)		0-25890 (Commission File Number)		22-2769024 (IRS Employer Identification No.)

6050 Oak Tree Boulevard, South, Suite 500,
Cleveland, Ohio 44131
(Address of Principal Executive Offices, Zip Code)

216-447-9000
(Registrant’s Telephone Number, Including Area Code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

Item 8.01 Other Events.

     On December 11, 2007, CBIZ, Inc. (the “Company”) issued a press release announcing that it has sold its interest in Albridge Solutions, Inc., effective December 10, 2007. CBIZ, Inc. invested approximately $1.1 million in Albridge Solutions, a provider of portfolio accounting and enterprise wealth management services, in 1999, and had substantially written down the investment in 2000 and 2002. Albridge Solutions was acquired by PNC Financial Services Group on December 7, 2007. CBIZ expects to record a pre-tax gain on the sale of approximately $7.3 million in the fourth quarter 2007.

     A copy of this press release is filed herewith as Exhibit 99.1.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

99.1		Press Release of CBIZ, Inc. dated December 11, 2007 announcing that it has sold its interest in Albridge Solutions, Inc.

SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Exhibit 99.1

FOR IMMEDIATE RELEASE		CONTACT:		Lori Novickis Director,Corporate Relations CBIZ, Inc. Cleveland, Ohio (216) 447-9000

CBIZ SELLS INTEREST IN ALBRIDGE SOLUTIONS, INC.
EXPECTS ONE-TIME EPS GAIN OF $0.06

Cleveland, Ohio (December 11, 2007)—CBIZ, Inc. (NYSE: CBZ) today announced that it has sold its interest in Albridge Solutions, Inc.

Albridge Solutions, Inc. is a provider of portfolio accounting and enterprise wealth management services, and was acquired by PNC Financial Services Group on December 7, 2007. CBIZ sold its interest in Albridge Solutions, Inc. concurrent with this acquisition.

CBIZ invested approximately $1.1 million in Albridge Solutions, Inc. in 1999, and substantially wrote down the investment through 2002. CBIZ expects to record a $7.3 million pre-tax gain on the sale of its interest in Albridge Solutions, Inc. during the fourth quarter of 2007. This gain will be recorded in income from continuing operations, and will have a positive impact on diluted earnings per share from continuing operations of approximately $0.06 per share.

Steven L. Gerard, Chairman and Chief Executive Officer of CBIZ, stated, “We congratulate Albridge on this transaction and are pleased to receive the proceeds for our investment. However, we would like to highlight the significant, one-time, non-recurring nature of this transaction which resulted from an investment made eight years ago. Without the impact of this gain, we reiterate our previous guidance of an increase in earnings per share from continuing operations for the full year 2007 of 20 to 25% over the $0.35 reported for 2006.”

CBIZ, Inc. provides professional business services that help clients better manage their finances, employees and technology. As the largest benefits specialist, one of the largest accounting, valuation and medical practice management companies in the United States, CBIZ provides its clients with integrated financial services which include accounting and tax, internal audit, and valuation. Employee services include employee benefits, property and casualty insurance, payroll, HR consulting and wealth management. CBIZ also provides information technology, hardware and software solutions, government relations, healthcare consulting and medical practice management. These services are provided throughout a network of more than 140 Company offices in 34 states and the District of Columbia.

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Risk factors that could cause actual results to differ include the risk of a decline in the current trend to outsource business services that may have a material adverse effect on the Company’s results of operations and the Company’s sensitivity to revenue fluctuations that could result in fluctuations in the market price for shares of the Company’s common stock. Additional risk factors are discussed in our Report on Form 10-K for the year ended December 31, 2006, and the reader is directed to these statements for a further discussion of important factors that could cause actual results to differ materially from those in the forward-looking statements.