Lumberyards
This industry comprises establishments (except those known as home centers, paint and wallpaper stores, and hardware stores) 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.
Doors, Service
This industry comprises establishments primarily engaged in installing or servicing building equipment (except electrical, plumbing, heating, cooling, or ventilation equipment). The repair and maintenance of miscellaneous building equipment is included in this industry. The work performed may include new work, additions, alterations, maintenance, and repairs.
Mississippi High Court Clarifies Best Practice for Lost Profits Calculation
In usurped-corporate-opportunity case, high court upholds trial court’s lost profits calculation based on actual numbers of company benefitting from wrongdoing, although best way is to project future profits or consider past profits of damaged business.
Lane v. Lampkin (III)
In usurped-corporate-opportunity case, high court upholds trial court’s lost profits calculation based on actual numbers of company benefitting from wrongdoing, although best way is to project future profits or consider past profits of damaged business.
Mississippi High Court Clarifies Best Practice for Lost Profits Calculation
In usurped-corporate-opportunity case, high court upholds trial court’s lost profits calculation based on actual numbers of company benefitting from wrongdoing, although best way is to project future profits or consider past profits of damaged business.
High Court Finds Trial Court’s Damages Assessment Unsound
State high court strikes down trial court’s damages assessment because it included values from a business valuation when the applicable law required an analysis of the entire loss suffered by a corporation owing to a partner’s breach of fiduciary duty.
Lane v. Lampkin (II)
State high court strikes down trial court’s damages assessment because it included values from a business valuation when the applicable law required an analysis of the entire loss suffered by a corporation owing to a partner’s breach of fiduciary duty.
Tax Court Tacitly Approves of IRS Solvency Assessment
In transferee liability case, solvency experts use gamut of valuation methods to establish when subject became insolvent; Tax Court does not endorse any one approach but appears to give nod to IRS market-based solvency analysis.
Kardash v. Commissioner (I)
In transferee liability case, solvency experts use gamut of valuation methods to establish when subject became insolvent; Tax Court does not endorse any one approach but appears to give nod to IRS market-based solvency analysis.
What Rationale for Net Book Value in Damages Analysis?
Appeals court finds trial court did not err when it incorporated net book value calculation in its lost profits analysis in a case claiming breach of fiduciary duty and usurpation of business opportunity; dissent says damages calculation is “illogical.”
Lane v. Lampkin (I)
Appeals court finds trial court did not err when it incorporated net book value calculation in its lost profits analysis in a case claiming breach of fiduciary duty and usurpation of business opportunity; dissent says damages calculation is “illogical.”
Can a Reasonable Royalty Ever Exceed Lost Profits?
Federal Circuit confirms that neither the infringer’s profits nor the patentee’s expected lost profits serves to cap reasonable royalty damages.
Powell v. The Home Depot U.S.A., Inc.
Federal Circuit confirms that neither the infringer’s profits nor the patentee’s expected lost profits serves to cap reasonable royalty damages.
Tax Court’s Adjustment to Reasonable Compensation ‘Dizzying and Arbitrary’
7th Circuit reverses Tax Court’s determination of reasonable compensation for CEO of third largest retail hardware chain, questioning its reliance on investor rate of return as the sole driver of a decision.
Menard v. Commissioner (II)
Seventh Circuit reverses Tax Court’s determination of reasonable compensation for CEO of third largest retail hardware chain, questioning its reliance on investor rate of return as the sole driver of a decision, and rejecting its comparison to comparable ...
Lost Future Earnings of Sole Proprietor Are Not Established Where Business Lacks Profit History
The Tennessee Court of Appeals determined that an award of lost future earnings as a component of personal injury damages could not be based on the lost business profits of the injured party’s sole proprietorship when the business’s operating history indicates losses and when it lacks in-place contracts.
Joe W. King, Jr. v. General Motors Corporation
The Tennessee Court of Appeals determined that an award of lost future earnings as a component of personal injury damages could not be based on the lost business profits of the injured party’s sole proprietorship when the business’ operating history indicates losses and when it lacks in-place contracts.
Valuation Is Irrelevant to Establish Knowledge by Stranger to Indenture of Its Breach
The issue in this case was whether an acquired company was worth more or less than a loan amount an indenture’s negative pledge covered.
In re Hechinger Investment Company of Delaware, Inc.
Claim for equitable lien denied on the basis that the creditor (Chase) negotiated a loan in good faith without knowledge of the negative pledge against the company (Builder's Square).
Court upholds valuation but overturns money judgment payable immediately
The issue in this marital dissolution was the valuation and distribution of the husbands nonvoting stock in the family business, Savage Wholesale Building Materials, Inc.
In re the Marriage of McDonald
At issue is the valuation of husband's separately owned stock in a closely held family corporation.
Payson v. Payson
The Georgia Supreme Court considered the characterization of stock and stock options. The wife owned stock and stock options in Home Depot before the marriage, which were exercised during the marriage with pre-marital funds. The lower court characterized ...
Stock Appreciation Is Not Entirely Marital Property
The Georgia Supreme Court considered the characterization of stock and stock options. The wife owned stock and stock options in Home Depot before the marriage, which were exercised during the marriage with pre-marital funds. The lower court characterized ...
Deposits of FLP Income to Personal Bank Account Cause Disallowance of Gifts
The decedent, Dorothy Schauerhamer, established three partnerships to which she gifted assets, primarily commercial real estate.
Schauerhamer v. Commissioner
At issue is whether the value of certain assets transferred to family partnerships is includable in the decedent's gross estate.