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From the Editor
It is that time of year to give thanks, and I would like to take this chance to thank all of those who make the Business Valuation Review possible.
Interested in more support for your DLOM?
There have been some rumblings in the business valuation profession about the validity of the traditional ways to estimate a discount for lack of marketability (DLOM).
How AI can impact healthcare valuations
It’s very unlikely that AI will replace physicians (that’s good news!), points out an interesting article, “Generative AI in Healthcare: Valuation Considerations,” by Todd Zigrang and Jessica Bailey-Wheaton, who are both with Health Capital Consultants.
ASA CEO search continues
Since Johnnie White, former CEO of the American Society of Appraisers, left the organization last month, the search for a new CEO has yielded over 75 applications, according to Garrett Schwartz, ASA international president, in his monthly message.
Today is the deadline for TAF’s demographic survey
Please take a three-to-four-minute survey from The Appraisal Foundation (TAF) designed to gather demographic data about the appraisal profession and help shape the group’s current and future diversity-related activities.
Comments due March 31 on fair value exposure draft
The Business Valuation Resource Panel (BVRP) of The Appraisal Foundation (TAF) has issued an exposure draft of Valuation Brief #3: Professional Interactions Unique to Fair Value for Financial Reporting.
Global BV News: ValuAsia Connect launches inaugural webinar (on ESG)
A new webinar series on valuations in Asia will have its first program on March 21 at 2:00 p.m. (Singapore time) on the topic of environment, social, and governance (ESG) factors and the regulatory environment that should be considered when valuing a business, asset, or liability.
BV movers . . .
Two promotions to managing director at Prairie Capital Advisors Inc., a corporate advisory and investment banking firm.
CPE events
Recent Trends in the Valuation of Early-Stage Companies, March 14, 10:00 a.m.-11:40 a.m. PT/1:00 p.m.-2:40 p.m. ET. Featuring: Antonella Puca (BlueVal Group) and Douglas Summa (IVSC). CPE credits: 2.0.
Basic assumption drives valuers way apart
In an Illinois divorce case, different fundamental assumptions about the husband’s picture frame business yielded greatly disparate values from the two experts.
What to do about the dwindling real estate DLOC database
During the recent BVR Power Panel webinar, a question came in from the audience: What are your thoughts about using the 2022 Partnership Profiles data until the company produces a more up-to-date report?
Slatowski v. Sig Sauer, Inc.
The defendant, an ICE officer, was injured when his pistol fired unintentionally. The defendant gun manufacturer, Sig Sauer, filed a motion for summary judgment, arguing that the plaintiff cannot establish its defective design product liability claim because the expert testimony it offered to prove causation was inadmissible and unreliable. The court granted the defendant’s motion.
Plaintiff Fails to Prove Causation—U.S. District Court (Pennsylvania) Grants Summary Judgment to Defendant
The defendant, an ICE officer, was injured when his pistol fired unintentionally. The defendant gun manufacturer, Sig Sauer, filed a motion for summary judgment, arguing that the plaintiff cannot establish its defective design product liability claim because the expert testimony it offered to prove causation was inadmissible and unreliable. The court granted the defendant’s motion.
Miller v. Miller
In this Ohio divorce case, the trial court did not consider a valuation report of a competent expert the husband submitted. As such, “the trial court erred by sustaining an objection which appellant never made and by rendering judgment without considering all the evidence presented.” The trial court also erred by failing to reserve jurisdiction to modify the spousal maintenance award and not explaining why it refused to do so. The Appellate Court remanded on both of the above issues.
Ohio Trial Court Fails to Consider Expert Testimony—Appellate Court Remands
In this Ohio divorce case, the trial court did not consider a valuation report of a competent expert the husband submitted. As such, “the trial court erred by sustaining an objection which appellant never made and by rendering judgment without considering all the evidence presented.” The trial court also erred by failing to reserve jurisdiction to modify the spousal maintenance award and not explaining why it refused to do so. The Appellate Court remanded on both of the above issues.
BVR Power Panel offers insights into recent issues
BVR has an ongoing webinar series of Power Panels, consisting of veteran practitioners and thought leaders covering recent trends and issues.
Exposure draft now available on fair value
The Business Valuation Resource Panel (BVRP) of The Appraisal Foundation (TAF) has issued an exposure draft of Valuation Brief #3: Professional Interactions Unique to Fair Value for Financial Reporting.
Kroll-recommended ERP remains at 5.5%—for now
The latest cost of capital infographic from Kroll has the firm’s recommended U.S. equity risk premium reaffirmed at 5.5% when developing USD-denominated discount rates.
‘Disclose me,’ AI tells appraisers
“Appraisers should be encouraged to clearly state whether they authored a report or relied on AI models for content generation.”
What is your firm’s experience with remote work?
That’s the topic of this month’s “Two-Minute Practice Builder” survey.
TAF launches second demographic survey
The Appraisal Foundation (TAF) has a survey designed to gather demographic data about the appraisal profession and help shape the group’s current and future diversity-related activities.
The IRS is looking for you
Don’t panic—it’s not about an audit.
Global BV News: New IVSC Perspectives Paper examines the valuation of data
The International Valuation Standards Council (IVSC) has its sights set on data and how to value it.
BV movers . . .
Ryan Lubinski, CPA, CVA, has been appointed a partner at MichaelSilver (Deerfield, Ill.).
CPE events
Is There or Isn’t There Goodwill: Expert Disagreements, March 12, 10:00 a.m.-11:40 a.m. PT/1:00 p.m.-2:40 p.m. ET. Featuring: Josh Shilts (Shilts CPA, PLLC). CPE credits: 2.0.