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.
RV Parks
This U.S. industry comprises establishments primarily engaged in operating sites to accommodate campers and their equipment, including tents, tent trailers, travel trailers, and RVs (recreational vehicles). These establishments may provide access to facilities, such as washrooms, laundry rooms, recreation halls and playgrounds, stores, and snack bars.
Printing: Commercial Printers
This U.S. industry comprises establishments primarily engaged in gravure printing without publishing (except books, grey goods, and manifold business forms). This industry includes establishments engaged in gravure printing on purchased stock materials, such as stationery, letterhead, invitations, labels, and similar items, on a job order basis.
Are Judges and Experts Missing the Boat on the Use of the Capitalized Cash Flow Method
Judges and valuation professionals seem to be missing the boat on the proper application of the capitalized cash flow (CCF) method under the income approach, but why?
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.
Instrument Manufacturing for Measuring and Testing Electricity and Electrical Signals
This U.S. industry comprises establishments primarily engaged in manufacturing instruments for measuring and testing the characteristics of electricity and electrical signals. Examples of products made by these establishments are circuit and continuity testers, voltmeters, ohm meters, wattmeters, multimeters, and semiconductor test equipment.
Doors, Sales
This industry comprises establishments (except home centers, paint and wallpaper retailers, and hardware retailers) primarily engaged in retailing specialized lines of new building materials, such as lumber, fencing, glass, doors, plumbing fixtures and supplies, electrical supplies, prefabricated buildings and kits, and kitchen and bath cabinets and countertops to be installed.
Car Washes, Coin Operated/Self-Service
This U.S. industry comprises establishments primarily engaged in cleaning, washing, and/or waxing automotive vehicles, such as passenger cars, trucks, and vans, and trailers.
Bookstores, Rare and Used
This industry comprises establishments primarily engaged in retailing new books, newspapers, magazines, and other periodicals (without publishing).
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.
BV News and Trends January 2024
A monthly roundup of key developments of interest to business valuation experts.