Peter J. Bondy FSA, MAAA, has more than 45 years of experience as an Actuary and a Financial Services Professional. He has served as a corporate executive, as a corporate director, and as a consultant domestically and internationally. Mr. Bondy has extensive experience with insurance company and reinsurer matters and practices ranging from basic business practices to matters involving financial projections and valuations as well as sales practices. He has served on corporate boards and brings a broad understanding of the issues involved. A published author, Mr. Bondy has delivered lectures and spoken frequently around the country. He is fluent in English and Spanish, his first language.
Litigation Support - Having had experience with many complex projects throughout his career, Mr. Bondy is able to serve as an expert consultant or as an expert witness for complex matters and issues regarding annuities, insurance, reinsurance, emerging mortality, experience issues, and corporate matters. He provides a broad range of litigation support services to attorneys representing both plaintiff and defendant.
Areas of Expertise:
Actuary / Actuarial
Joint Marital Property
Mortality and Life Expectancy
Valuation of Life Care Plans
Valuation of Streams of Contingent Future Payments
Insurance : Life / Health / Annuities / Disability
Life Settlements / Structured Settlement Annuities
Appraisal and Performance Evaluation of: Life Insurance / Life Settlement Transactions / Annuity Benefits / Retirement Benefits
DMA Economics, LLC is a world class provider of Valuation Analyses in high-stakes litigation. Their clients include billion-dollar investment funds under SEC investigation as well multi-national firms involved in intellectual property disputes, consumers in product mislabeling cases, and small to mid-sized businesses involved in complex commercial litigation.
DMA Economics has performed valuations for cases involving Theft of Trade Secrets, Securities Fraud, Product Mislabeling and Consumer Fraud, and Lost Profits and Enterprise Value to name a few.
DMA Economics also has extensive experience in the valuation of business interests for non-litigation matters. These include but are not limited to valuations of non-public business interests, for acquisition and regulatory purposes.
Donald M. May PhD, CPA, Managing Partner at DMA Economics, LLC, possesses over 30 years of Valuation and Economic Damages experience. He implements a broad range of damage analyses and valuations for clients including billion dollar investment funds under SEC investigation as well as smaller businesses concerned with the impact of potential litigation and strategies to reduce potential liability.
Background Experience - Prior to founding DMA Economics LLC, Dr. May was Managing Director at Berkley Research Group and the Principal in charge of valuation and litigation support services for a regional accounting firm, a Managing Director for PricewaterhouseCoopers, and a professor at the Massachusetts Institute of Technology - Sloan School of Management. He has performed over 200 valuations of closely held businesses across numerous industries for financial reporting and estate planning.
Dr. May has been published in several distinguished academic and practitioner journals such as The Journal of Finance, The Quarterly Review of Economics and Finance, Hedge Fund Law Review, and is currently an editorial board member of The Journal of Business Valuation and Economic Loss Analysis.
This article finds evidence consistent with the hypothesis that managers consider personal risk when making decisions that affect firm risk. I find that Chief Executive Officers (CEOs) with more personal wealth vested in firm equity tend to diversify. CEOs who are specialists at the existing technology tend to buy similar technologies. When specialists have many years vested, they tend to diversify, however. Poor performance in the existing lines of business is associated with movements into new lines of business.
Econalysis® Consulting provides Economic Loss Analysis services to adjustors and insurers in claims resulting from accident, wind, fire, and flood, and from negligence, malpractice, or other actions or omissions.
Econalysis® Consulting also provides regulatory economics consulting services in such public policy areas as environmental protection, health and safety, antitrust, energy, and other regulated services and markets.
Dennis M. Giuffré, founder Econalysis® Consulting, offers specialized economics consulting and expert services, and has engaged such services over a broad and diverse array of industries and markets, since 1978. Projects have included the analysis of economic damages in business, and in personal, scenarios in which a trial is not contemplated.
Mr. Giuffré's experience includes analysis of losses of property, business profitability, and personal losses due to natural disasters, identification and analysis of means to offset pollutant emissions in a designated non-attainment area, profitability analysis of a new grassroots electric power plant, the impact of relaxation of pollutant standards, market research of Oil Country Tubular Goods, evaluation of proposed business ventures in various markets, and other engagements.
Tony Wayne, CPA, CFF, CVA, CIRA, is a Certified Public Accountant with over 25 years of private industry senior operations experience.
After a diverse career spanning 15 years in Big 8 public accounting/consulting and private industry, Mr. Wayne founded IronHorse in 1998 with an emphasis on complex turnarounds and restructuring consulting, crisis management, advisory services, CFO services, and litigation support.
Background - Mr. Wayne's career began with Arthur Andersen & Co. Most of his private sector career was spent in c-level positions with divisions and subsidiaries of large multi-national industrial firms, as Chief Operating Officer as well as Chief Financial Officer. In the late 1980’s, he participated in the $175 million leveraged recapitalization of Axia, Inc. (formerly Bliss and Laughlin Steel) and served as Controller/CFO of Axia’s largest division, Goldblatt Tool Co. Late 1991. Mr. Wayne then joined Weld Racing, Inc. as Chief Operating Officer for a number of years before founding Ironhorse LLC.
IronHorse LLC is a special situation Business Advisory firm and intermediary serving middle and small market business owners, commercial lenders, private equity firms, and the restructuring, corporate, transactional, and litigation legal communities. Their team has extensive experience within Fortune 1000 as well as Big Four consulting firms and are leaders within the various professional associations they serve and sponsor.
With a primary geographical footprint across a six-state region including Nebraska, Iowa, Kansas, Missouri, Oklahoma and Arkansas, IronHorse is one of a handful of firms and one of the oldest in the region. As such, IronHorse is an ideal solutions resource for the closely held, family owned middle, or small-market industrial firm in transition. Visit their website at www.ihorsellc.com.
Ironhorse offers the following consulting services:
Turnaround Consulting and Complex Restructuring - Accelerate critical decisions and aggressively take action, work with key people to make tough calls, act decisively, and bring a dynamic contribution to the turnaround
Forensic and Valuation Services - Collect, analyze, and interpret financial, valuation, and accounting data and information; combine technical and accounting expertise to accelerate and deliver solutions in highly complex situations
Litigation Support - Advise boards of directors, senior management and corporate counsel in all litigation matters that can impact business practices, profitability, and continued viability
CFO Services - Provide an outstanding cadre of financial professionals with experience running the operations through the most difficult of transitions
Due Diligence - Unique approach to organizational, operational, and executive process due diligence aids in decision-making, negotiations, and deal structure deliberations for both healthy and distressed investing scenarios
Mr. Wayne is a member of the American Bankruptcy Institute, including the Business Reorganization Committee and Fraud Task Force. In addition, he is a member of the American Institute of CPA’s, the Association of Insolvency & Restructuring Advisors, the National Association of Valuation Analysts, the Turnaround Management Association, the Association for Corporate Growth, and the Forensic CPA Society.
Thirty years ago, in the midst of an early-season slump, George Brett told reporters, "The first thing I look for in the Sunday papers is who is below the Mendoza line." Brett, who went on to hit .390 that year for the Kansas City Royals, was referring to Mario Mendoza, a light-hitting shortstop for the Seattle Mariners whose surname became synonymous with hitting futility.
Two years ago, you finally closed the big merger deal you spent what seems like years working on. Perhaps, your business is tied to commercial real estate development, construction, or building materials. Just when you were ready to start that big ramp up, the bottom fell out.
Executive Summary: Imagine the extraordinarily unusual challenge of valuing a going-concern start-up enterprise yet to make their first sale which was completely destroyed by a casualty loss and never-reopened. Further complicated by the inherent ambiguity, risk and complexity of the embryonic development stage industry in which they were attempting to operate and succeed.
In certain situations, the sale of an operating entity as a going concern in a receivership proceeding is a viable alternative to seeking relief under the Bankruptcy Code. Receivership going-concern sales may be especially appropriate in complex situations where enterprise value is declining, but the company is not hopelessly insolvent. This article briefly highlights those conditions, factors, situations and circumstances that may contribute to or impede a successful going-concern transaction within a court-supervised commercial receivership.
Nevium specializes in managing and increasing the value of intellectual property portfolios. You have your business plan; you have your marketing plan…Where is your IP plan? Quite surprising, most businesses don’t have an IP plan; nonetheless even know the total contents of their IP portfolio. At Nevium, we manage and monetize intellectual property and intangible assets. We believe these assets need to be identified, organized and managed in order to maximize value.
Nevium specializes in valuing, managing, monetizing and providing expert testimony related to intellectual property. Nevium values IP for business transactions, tax/estate, joint venture negotiations, transfer pricing and bankruptcy.
Nevium builds and manages intellectual asset management strategies for clients who want to monetize their IP. Mr. Bania and Mr. Buss are frequent lecturers on IP valuation and licensing issues and publish articles for numerous industry publications. Areas of expertise include music, apparel, publishing, film, food, automotive, sporting goods, furnishings, advertising, media, photography, retail and not for profit.
Consulting Services Include:
IP Management - Nevium Identifies, organizes and values IP and IA
IP Valuation - Nevium values brands, trademarks, copyrights, patents social media and Internet assets for M&A, estate, business transactions, tax and transfer pricing
IP Monetization - Nevium assists with setting royalty rates, building licensing agreements and buying and selling IP
Doug Bania, CLP, Founding Principal, has over a decade of expertise in managing, valuing and monetizing intellectual property. Prior to founding Nevium, Mr. Bania managed 100s of projects related to brands, intellectual property and the related intangible assets. He has assisted clients in intellectual property matters related to acquisitions, litigation, bankruptcy, tax, estate, family and marital disputes, and licensing. Mr. Bania delivers presentations and seminars on IP valuation, management and damages issues for various business and legal entities across the United States.
Brian Buss, CFA, Founding Principal, is a Chartered Financial Analyst with over 20 years of experience in valuations, financial analysis, and corporate finance both in the United States and overseas. Mr. Buss provides strategic advice for intellectual property portfolios and transactions, guidance in determining economic damages, and profit apportionment in civil litigation, and performs valuations of trademarks, patents, copyrights, brand assets, trade secrets, technology assets, celebrity endorsements and marketing activities, and other intangible assets. Prior to founding Nevium, Brian Buss managed over 100 cases as an economic and valuation expert. He has developed financial models and forecasts for acquisitions, business valuations, licensing transactions, and new business ventures. His entrepreneurial experience includes serving as co-founder and financial officer for a technology start-up. Prior to launching Nevium, he worked at San Diego-based consulting firms, Westpac Institutional Bank, and Deloitte & Touche’s Financial Advisory Services group in New Zealand and San Francisco. Mr. Buss has been engaged to speak by various institutions, both nationally and internationally, on topics concerning finance, valuation, and damages.
San Diego Office 415 Laurel Street, Suite 341 San Diego, CA 92101 Telephone: 858-255-4361 Email: email@example.com
Los Angeles Office 9107 Wilshire Blvd., Suite 450 Beverly Hills, CA 90210 Telephone: 310-975-3145 Email: firstname.lastname@example.org
Based on our knowledge of and ability to analyze and value businesses, valuation professionals are uniquely positioned to provide valuable information to business owners and managers regarding the financial value of their brand assets. In other words, how a company's brand assets are contributing to the company's overall financial performance. This "Special Issue" of The Value Examiner is intended to kick-start the discussion on brand valuation by identifying the opportunities and challenges in completing brand valuation assignments for our clients.
Use of the Internet and social media has become an increasingly essential element of conducting business in the United States and globally, which in turn raises new issues for calculating damages and performing valuations. With almost every business now using the Internet and social media to conduct business, cases of Internet IP infringement, IP misuse, and defamation have increased and evolved. Before the rise of these new media, cases of infringement and defamation typically occurred in print or on television and were visually obvious.
Most of the existing literature on copyright infringement is concerned with the valuation of intellectual property rather than the apportionment of the value that is directly attributable to the intellectual property asset at issue. Further, few of the currently proposed IP valuation methods and little of the literature addressing the determination of damages appears directly applicable to the case of copyright in the context of artistic productions. Within the creative arts, recorded music offers a particularly complex and interesting case within which to explore this issue, as different portions of the relevant copyright to the recorded song may be held by different persons.
Kirk D. Kleckner, CPA, MBA, ABV, ASA, CFF is the Managing Principal of ValuationUSA, a boutique Valuation / Litigation Support firm. He is also the current President of Automotive Group Capital and Consulting, LLC - a ten person business specializing in the dealership industry.
Mr. Kleckner is a CPA, MBA and is professionally accredited in Business Valuation (ABV) from the American Institute of Certified Public Accountants (AICPA). He is also a Senior Appraiser of the American Society of Appraisers (ASA) and Certified in Financial Forensics from the AICPA (CFF). Mr. Kleckner is a Qualified Expert Witness with experience in complex business litigation.
Mr. Kleckner's experience includes seven years as Chief Financial Officer for a well respected top 50 dealership group. He spent nineteen years with an accounting firm as its Chief Operating Officer, Director of Business Valuation and Litigation Support Services and Shareholder.
Mr. Kleckner's expertise leverages both his professional and hands-on industry experience. His practical experience includes buying, selling and integrating of businesses and organization and owner tax planning.
Mr. Kleckner has experience as an expert witness in various legal actions including class action settlement valuation, ownership dispute valuation and business damage calculations.
Areas of Expertise:
Litigation Economic Loss / Damage Analysis and Independent Opinions, Expert Witness
Product Warranty and Class Action Settlement Valuation
Dealership - Valuation, Profitability and Practices
Business Interruption, Minority Interests and Fair Value, Ownership Disputes
Estate and Gift Valuation
Succession and Business Owner Wealth Transfer Planning