CPE events

BVWireIssue #144-1
September 10, 2014

Want to learn about price versus value? Valuing private minority interests? ESOP valuation? Here’s your chance with these upcoming CPE events.

Price and Value: Discerning the Difference, an Advanced Workshop (September 10), featuring Dr. Aswath Damodaran (New York University Stern School of Business). Don’t miss the preeminent BV training event of the year: an intensive three-hour lecture on the differences between price and value and the consequences of feedback between these two concepts.

Time to Abandon Discounted NAV? Why the Income Approach Should Be the Cornerstone for Valuing All Private Minority Interests (September 18), featuring Eric Nath (Eric Nath and Associates). Conventional appraisal wisdom says that the value of a noncontrolling, illiquid interest in a private company or holding company is the net equity or net asset value, discounted for lack of control and lack of liquidity. But is this how markets for these types of interests really work?

ESOP Regulatory Update: The DOL Fiduciary Process Agreement (September 24), featuring Jeff Tarbell (Houlian Lokey), Theodore Becker (DrinkerBiddle), and James Staruck (GreatBanc Trust Co.). In recent years, ESOP appraisals and fairness opinions have received increased scrutiny from the U.S. Department of Labor and the plaintiffs' bar. Earlier this summer, in connection with the settlement of litigation brought by the DOL, an institutional trustee agreed to implement certain policies and procedures that have been commonly referred to as the "DOL Fiduciary Process Agreement." Join valuation expert Tarbell and attorneys Becker and Staruck for a panel discussion on the processes, procedures, and implications of the DOL Fiduciary Process Agreement.

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