Highlights of the April 21 issue:
  • DLOM gauge spiked in 1Q2021, per updated pre-IPO study
  • New evolving ESOP case raises familiar valuation-related issues 
  • Today! Third and final part of ‘Integrated Theory’ webinar series
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DLOM gauge spiked in 1Q2021, per updated pre-IPO study

The use of pre-IPO data is a widely used and accepted method for estimating a discount for lack of marketability (DLOM).

Today! Third and final part of ‘Integrated Theory’ webinar series

A very special BVR webinar series concludes today with the authors of Business Valuation: An Integrated Theory, Z. Christopher Mercer and Travis W. Harms (both with Mercer Capital).

BVU poised to cover an exciting slate of 2021 conferences

One of the hallmarks of the Business Valuation Update (BVU) monthly newsletter is its in-depth coverage of conferences—not just in the U.S. but around the world.

M&A strategy pros convene April 30

A discussion of trends in transaction valuations in the context of M&As is part of the agenda at the spring M&A Strategy Forum on April 30, hosted by the Transaction Advisors Institute.

Burrage scholarship recipient named

As part of the Thomas Burrage Award for Compassion, Collegiality and Character (see last week’s coverage), a scholarship of $1,000 has been presented to Sheyla Lopez, a student at the University of New Mexico (UNM).

Global BV News: Learn to say ‘no’ to some clients, says former ANEVAR president

Some business valuation clients are “dangerous,” and valuers need to say “no” to them, advises Dana Ababei, former president of the National Association of Authorized Romanian Valuers, Romania (ANEVAR).

BV movers . . .

Ronald H. Pachino, CPA, ABV, CFF, CGMA, has been elected a tax partner at Newport News, Va.-based PBMares.

CPE events

Valuing Shareholder Cash Flows. April 21, 10:00 a.m.-11:40 a.m. PT/1:00 p.m.-2:40 p.m. ET. Featuring: Travis Harms (Mercer Capital) and Z. Christopher Mercer (Mercer Capital).

New evolving ESOP case raises familiar valuation-related issues

A new ESOP litigation is underway in federal district court related to a 2011 transaction in which the majority owner of the company sold his remaining stock to the company’s ESOP.

Tax changes to watch for under the Biden administration

Other than the possibility of changing corporate tax rates, there is “nothing of earth-shattering importance” in terms of tax, estate, and regulatory changes expected from the Biden administration—for now, anyway—according to a panel of valuation experts on a recent BVR webinar.

TAF launches diversity survey of the appraisal profession

The Appraisal Foundation (TAF) has launched a survey to gather both diversity-related demographic data and appraisers’ opinions about these issues.

2020 Thomas Burrage Award recipients named

Giving back to the business valuation profession is how the late Thomas Burrage is remembered.

ASA opens nominations for Rising Stars Award

The American Society of Appraisers announces the Rising Stars Award to be handed out at the 2021 ASA International Appraisers Conference in Las Vegas.

Pepperdine private cost of capital survey is open

A BVWire poll found that 40% of respondents use the Pepperdine Private Capital Markets Reports for estimating small private-company cost of capital.

Tomorrow is the deadline for proposals for healthcare papers

April 15 is the deadline for proposals for papers on issues of fair market value, general market value, and commercial reasonableness under the new Stark regulations.

Global BV News: Input wanted on two major IVS consultations soon to close

If you prepare, review, or use valuations that are compliant with International Valuation Standards (IVS), two consultations are of interest to you, and your input will be appreciated.

BV movers . . .

Chris Owen, CPA/ABV, CEIV, has joined the investment banking services firm PCE to lead and grow the business valuation practice in St. Louis.

CPE events

Valuing Shareholder Cash Flows. April 21, 10:00 a.m.-11:40 a.m. PT/1:00 p.m.-2:40 p.m. ET. Featuring: Travis Harms (Mercer Capital) and Z. Christopher Mercer (Mercer Capital).

Tax Court deals another blow to cannabis dispensaries

In recent years, numerous cannabis businesses that are legal under state law have unsuccessfully challenged section 280E of the Internal Revenue Tax Code, which prohibits tax deductions for a business that “consists of” trafficking in a controlled substance.

Caesars Entertainment sues over COVID-19-related economic damages

On March 19, Caesars Entertainment joined the long list of businesses that have filed lawsuits against their insurance companies for refusing to pay business interruption losses stemming from COVID-19-related government shutdowns of economies across the nation and world.

Valuable lessons on using economic data in valuation reports

In his very first deposition, veteran valuation expert Jim Hitchner (Financial Valuation Advisors) learned two valuable lessons.

PCAOB approves formation of new advisory group

Fair value for financial reporting falls under the regulatory oversight of the Public Company Accounting Oversight Board (PCAOB), which will be forming a new advisory group for its standard-setting activities.

New edition of BVR’s Bankruptcy Case Law Compendium

Virtually every bankruptcy case is intertwined with valuation issues at almost every stage of the process, which is why BVR’s Business Valuation & Bankruptcy: Case Law Compendium, 3rd edition, is a must-have resource.

Reminder: Take the Pepperdine private cost of capital survey

The Pepperdine Private Capital Markets Project conducts an annual survey of expected rates of return with respect to private companies.

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