Booth Computers, a New Jersey family partnership (“Booth”), was created in 1976. In 1978, a related partnership, HCMJ Realty Ltd. was formed, of which Booth was a limited partner. Interests in Booth were given to James, Michael and Claudia Cohen by their father, Robert. The partnership acquired substantial assets over a period of more than […]
In June 2010, I participated in the video interview series “Conversations with the Masters,” hosted by Brien K. Jones of the National Association of Certified Valuation Analysts (NACVA). In the first part of the interview, filmed at the NACVA/IBA Annual Consultants’ Conference in Miami, Brien and I discuss the growing influence of LinkedIn and how […]
Rand Curtiss wrote about the QMDM in a recent IBA blog post. If you currently use the QMDM, you will appreciate his insights into the expected holding period. He also suggests alternative ways to use the model to help support or give confidence in marketability discount indications from other methods.
The Department of Labor (DOL), through the Employee Benefits Security Administration (EBSA) is proposing an expansion of certain regulatory definitions under the Employee Retirement Income Security Act (ERISA). One of the proposed changes calls for business appraisers who provide annual appraisal and other appraisal services regarding Employee Stock Ownership Plans (ESOPs) to become fiduciaries of those plans. […]
The Supreme Court of the State of Nevada recently issued an opinion regarding the determination of statutory fair value in an interest matter. See American Ethanol, Inc. v. Cordillera Fund, LP, 2011 WL 1706823 (Nev.)(May 5, 2011). The Cordillera Fund purchased 583,334 shares of convertible preferred stock of American Ethanol for a price of $3.00 […]
Slides from the June 28, 2011 webinar “Demystifying Statutory Fair Value” are posted below. Thanks to Valuation Products and Services, the sponsor of the webinar (and especially Jim Hitchner and Eva Lang).
This article, authored by Nick Heinz of Mercer Capital and drawing on the information found in the book Buy-Sell Agreements for Closely Held and Family Business Owners, discusses the ideal time to review your buy-sell agreement. The time for a comprehensive review of your buy-sell agreement is not this year or this month – it […]
On Tuesday, June 28, 2011, Mercer Capital CEO Z. Christopher Mercer, ASA, CFA, ABAR will present “Demystifying Statutory Fair Value,” in a webcast sponsored by Valuation Products and Services and the Financial Consulting Group. The webcast, which is part of the STRAIGHTtalk series, will be presented from Noon to 2:00 p.m. (CST). “Fair Value” is a misunderstood standard […]
In the June 2011 issue of The CPA Journal magazine is the article “Buy-Sell Agreements: Business Owners Benefit from Planning Ahead” by yours truly. This is a comprehensive article and one I hope you will read. You can link to the entire issue here. Skip to page 64 to read the article.
The title of this post is also the title of a presentation authored by L. Paul Hood, Jr., JD, LLM, co-author of the book A Reviewer’s Handbook to Business Valuation: Practical Guidance on the Use and Abuse of a Business Appraisal, along with Timothy R. Lee, ASA of Mercer Capital. The sub-title of the presentation is […]