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Stay appraised of all the latest business considerations in the jewelry industry! The report explains how jewelry stores operate, the nature of their revenue streams, value drivers, the industry environment, the risks involved, and other key factors.
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What’s in the March 2024 issue of Business Valuation Update
Here’s what you’ll see.
Another expert ‘Dauberted’ out of a damages case
In last week’s issue, we reported on a damages case in which a valuation expert’s testimony was excluded because of the methodology used in the analysis. In this week’s case (also a damages matter), the expert didn’t even get that far before being excluded.
Quantifying DLOMs for Minority and Controlling Interests
The discount for lack of marketability is one of the largest and most important adjustments made in the valuation of a privately held business. It is crucial to understand that an investor purchases the privately held interest at a discount to increase the rate of return on the investment. This increased rate of return offsets the additional risk the lack of marketability of the investment causes. This webinar will discuss how to use this concept ...
Smith v. Smith
In this divorce case appeal, the appeals court remanded to the Chancery Court the issue of separate versus marital property. The appellate court determined that one of the husband’s businesses was marital property and not separate property as the Chancery Court decided. It remanded that portion of the Chancery decision with instructions to change the ruling and determine a value for the now marital property business—but without any goodwill.
Appellate Court (Mississippi) Affirms That Goodwill Is Not a Marital Asset
In this divorce case appeal, the appeals court remanded to the Chancery Court the issue of separate versus marital property. The appellate court determined that one of the husband’s businesses was marital property and not separate property as the Chancery Court decided. It remanded that portion of the Chancery decision with instructions to change the ruling and determine a value for the now marital property business—but without any goodwill.
Valuers need to examine the lingering effects of COVID-19
The pandemic is over but not for some businesses that continue to feel the effects—and this impacts valuation.
Are your peers using AI in their practice—and for what?
Find out by taking a very short survey—the latest in our “Two-Minute Practice Builder” surveys.
NVIDIA is the world’s fasting-growing brand, per Brand Finance report
There has been a significant gain in brand value among companies that have heavily invested in artificial intelligence (AI), with NVIDIA now the world’s fastest-growing brand (up 163% to $44.5 billion), according to the “Brand Finance Global 500 2024” report.
Two New York City conferences set dates for 2024
On April 25, the ASA will hold its Fair Value Conference in New York City for both in-person and virtual attendance.
SBA lending data added to Vertical IQ
The Vertical IQ industry research platform has added key data sets of Small Business Administration (SBA) lending trends and industry performance insights.
Global BV News: New version of IVS published
Now used in over 100 countries, the latest edition of the International Valuation Standards (IVS) was published on Jan. 31, 2024, and has an effective date of Jan. 31, 2025, one year later.
BV movers . . .
Two professionals have been elected partners at New York City-based CohnReznick.
CPE events
Quantifying DLOMs for Minority and Controlling Interests, February 13, 10:00 a.m.-11:40 a.m. PT/1:00 p.m.-2:40 p.m. ET. Featuring: Bruce A. Johnson (Munroe, Park & Johnson Inc.). CPE credits: 2.0.
Lost profits calculation goes off the track
In a Missouri breach of contract case, the plaintiffs were carriers who delivered print newspapers to subscribers under an agreement that gave them territorial rights.
Rieves v. Town of Smyrna
The plaintiffs’ business was allegedly damaged by the actions of the defendant. The plaintiffs engaged an expert in economic damages and lost profits. The defendants engaged their own expert to provide his opinions as to why he believed the plaintiffs’ expert’s opinions were unreliable. The court ultimately excluded this portion of the defendants’ expert’s testimony. The defendants’ expert’s calculation of damages, however, was a matter for cross-examination and will be allowed.
In re Hebert
In this New Hampshire divorce appeal, the husband appealed the trial court’s property division, the awarding of 13 years of alimony, awarding of 100% of the proceeds of the sale of residences, and awarding 50% of the value of the husband’s business and the real estate where the business was located. The Supreme Court of New Hampshire affirmed in part and remanded in part.
New Hampshire Supreme Court Affirms in Part and Vacates in Part and Remands Divorce Trial Court—Husband Fails to Provide Support for Expenses
In this New Hampshire divorce appeal, the husband appealed the trial court’s property division, the awarding of 13 years of alimony, awarding of 100% of the proceeds of the sale of residences, and awarding 50% of the value of the husband’s business and the real estate where the business was located. The Supreme Court of New Hampshire affirmed in part and remanded in part.
U.S. District Court Excludes Expert’s Testimony on Critique of Plaintiffs’ Damages but Allows Same Expert Testimony on His Damages Calculation
The plaintiffs’ business was allegedly damaged by the actions of the defendant. The plaintiffs engaged an expert in economic damages and lost profits. The defendants engaged their own expert to provide his opinions as to why he believed the plaintiffs’ expert’s opinions were unreliable. The court ultimately excluded this portion of the defendants’ expert’s testimony. The defendants’ expert’s calculation of damages, however, was a matter for cross-examination and will be allowed.
Next in Line! Valuing a Limited-Service Restaurant
The restaurant segment is broad and consists of multiple segments with different risk and growth profiles. It is important to categorize a restaurant concept into the appropriate segment properly. This webinar will provide a basis for the classification of restaurants into the appropriate segment. No business is valued in a vacuum, and, to value a restaurant properly, it is important to classify the subject restaurant correctly and understand the different risk and growth profiles across ...
Valuation Impact of Corporate-Owned Life Insurance on SCOTUS’ Agenda
The goal of this paper is to inform readers about a valuation issue that is the subject of a petition put before the United States Supreme Court to resolve a circuit split. The issue is how does corporate-owned life insurance designed to fund the redemption of a deceased shareholder’s stock impact the fair market value of the subject company and the value of the decedent’s gross estate. The author examines the applicable U.S. Tax Court, district court, and two appellate decisions so the reader can understand the arguments made and the basis for the legal conclusions.
BV Year in Review 2023: Recruiting Push
The business valuation profession continued to thrive in 2023 amid ongoing challenges, such as how to reflect uncertainty, inflation, and market volatility in valuations. But another issue loomed large in the profession: attracting and retaining new young talent.
Fair Market Value: A Complicated Standard
This article was triggered by a recent article by Jim Hitchner that maintained that it is a “myth” that fair market value assumes a financial buyer, without synergistic benefits. The author believes the answer to the question is more nuanced than the term “myth” suggests, which prompted him to revisit his thinking on the concept.
What to Know From the 2023 ASA International Conference, Part 2
More takeaways from the ASA’s annual conference, on the topics of personal goodwill, new SEC valuation requirements for PE/VC funds, customer concentration, buy-sell agreements, equity compensation, real estate-centric entities, and more.
BVLaw Review: The Top Valuation Cases of 2023
The BVLaw platform added approximately 70 cases during 2023, bringing the total to about 4,300 cases in the database. The cases are all related in some way to valuation, economic damages and lost profits, and other litigation. This article is a rundown of some of the more important cases for 2023.
Future Plans for the AICPA FVS Section
The AICPA Forensic and Valuation Services (FVS) section has some impressive plans going forward, a panel revealed at the FVS conference in Las Vegas this past November. Their plans include strengthening their training offerings, increasing education opportunities, career development support and outreach to universities to raise awareness among students.