Gallagher & Gailor share tips on how to present your CV in court
BVR’s good friends Carol Gailor, JD (Wallis & Hunt PLLC, Raleigh, NC) and Michelle Gallagher, CPA/ABV/CFF (Gallagher & Associates, Lansing, MI) together dissected the “perfect” weaknesses they see in BV reports and offered up a checklist of easy fixes at a session at the AAML/AICPA meeting last week. Certainly none of these are new to appraisers–but [...]
Karlitz recommends Verdict Search for probability modeling litigation
“You definitely need a high tolerance for ambiguity” when valuing companies with contingent assets, acknowledged Gary Karlitz, CPA, ABV, CBA, ASA (Citrin Cooperman & Co., New York, NY). Gary has established himself as a rigorous decision modeler and he shared several case studies with the audience at the AICPA/AAML Las Vegas conference. He follows a [...]
Excess Earnings Method “out of tune” for most engagements, Duffy says
One of the “Dirty Little Valuation Secrets” Bob Duffy, CPA/ABV, CFA, ASA (Grant Thornton, Seattle, WA) shared with AICPA/AAML Las Vegas attendees was his concern about the excess earnings method. “This method is like a guitar” Duffy described. “A guitar has six strings, the excess earnings method basically has six inputs and you can get [...]
Free downloads from BVR continue to be popular
BVR provides over 90 free articles, papers and standards written by top experts in the field of business valuation. The top ten downloads last month were: How to Use Transactional Databases for M&A, 2010 Update Holman v. Commissioner, 8th Cir. (April 7, 2010) Personal Goodwill: A Survey of Definitions Reasonable Compensation: Can Your Opinion Survive [...]
Damodaran on the grilling of Goldman Sachs : “mixed feelings”
“While I understand the urge to bring the mighty back to earth, I think that failing to support Goldman at this time is a huge mistake,” admits Professor Aswath Damodaran (NYU Stern School of Business) in his blog Musings on Markets. “To me, this case reveals everything that is wrong with both politics and law [...]
Dragon analyzes 2010 Mergerstat Review data for appraisers
On a brighter note: “One of the few good things about a recession is that it provides a chance to reconsider basic valuation assumptions affected by the depressed economic environment,” writes R.J. Dragon in his blog RJ on BV. “Business valuation experts can get a quick update by reviewing some of the popular references in [...]
Does the lack of IPO’s change the definition of “market participant?”
In their 2008 whitepaper, “Why IPOs are in the ICU,” (BVWire™# 75-3), authors David Weild and Edward Kim (both from Grant Thornton) charted the slow demise of the IPO market. The pair recently updated their study in “Market Structure is Causing the IPO Crisis.” Among their current findings: The IPO crisis has worsened. “The first [...]
Expert testimony rescues insured client from post-Katrina business interruption losses
Buffman, Inc. v. Lafayette Insurance Co., 2010 WL 1509363 (La. App. 4 Cir.)(April 14, 2010) In one of the first business interruption/lost income cases to come in the wake of Hurricane Katrina, an expert’s careful, credible opinion proves critical to swaying a jury’s opinion and the court’s ultimate award. Nursing home loses numerous residents to [...]
Construction clients? Thursday’s webcast is a must…
The construction industry has been a large source of valuation work over the years, but the industry has been hit hard by the recent recession and “housing bubble.” On May 13, valuation experts Don Drysdale (Drysdale Valuation) and Keith Prescott (Wisan, Smith, Racker & Prescott, LLP) will examine the tools and considerations needed to value [...]
IP assets dominate more and more balance sheets, says Anson
In a recent article in the ABA’s YourABA, Weston Anson (CONSOR), the author of IP Valuation and Management, says: “I was just at a conference that brought together 200 leading experts in the field of intellectual property. One of my compatriots pointed out that consistently over the last two decades, the value of IP and intangible assets has [...]
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