Astounding fact:  Some 80-90% of privately held businesses placed on market will not sell. In his groundbreaking new book, Toby Tatum, MBA, CBA, reveals why, and gives practical advice on how to negotiate a fair price.

PLANTATION, FLORIDA – October 12, 2009 – The Institute of Business Appraisers (IBA), the oldest professional society devoted solely to the appraisal of closely held businesses, today announced its publication of Pricing a Small Business for Sale: A Practical Guide for Business Owners, Business Brokers, Buyers, and Their Advisors, by Toby Tatum, MBA, CBA.

Toby Tatum, MBA, CBA

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Mr. Tatum explains why the marketplace for small businesses (where over 90% of individuals seeking to buy a small business never succeed in their effort) is one of the most inefficient markets in existence. In an overwhelming majority of cases, buyers and sellers bring entirely different perspectives about business value to the bargaining table.

Mr. Tatum breaks through the futility stalled negotiations by explaining, in clear detail, the significantly different perspectives and expectations that business owners and potential buyers (as well as their brokers and advisors) bring to a sales negotiation. Using the insight gained from being a business broker, a certified business appraiser, and a business broker trainer, Tatum shows everyone involved in a transaction how to arrive at a price and terms that are fair for both the seller and the buyer.

Consider what some of the industry’s most experienced and well-regarded figures have to say about the significance of Tatum’s accomplishment in this book:

“I thought I knew everything about business valuation until I read Toby Tatum’s newest book. This will now set the standard for anyone interested in estimating the true value of a business.”

—Len Krick, MBA, SBA, CMEA

Certified Business Intermediary

Merger and Acquisition Master Intermediary

Managing Member and Principal Broker

United Business Brokers of Nevada, LLC

“The vast majority of small businesses offered for sale are never sold. The primary reason being the business is overpriced. If business brokers, business buyers, and sellers apply the information provided in this book, they will be 80 percent of the way to the successful purchase or transfer of a small business.”

—Donna S. Dailey, M.Ed., LRED, CBI, SBA

Founder and President

School of Business Brokerage, Greensboro, NC

You can buy this much-awaited title from acclaimed author Tatum (Anatomy of a Business Purchase Offer, Transaction Patterns: Obtaining Maximum Knowledge from BizComps Database) for just $79 by calling (800) 299-4130, or from the IBA web site (http://www.go-iba.org/new/pricingsmallbusinesses.html ), where you’ll also find a wealth of additional IBA resources including information on the IBA transaction database (the largest database of private business sales available), educational tutorials, sample business appraisal reports, research libraries (with custom research options), newsletter subscriptions, and a library of white papers.

About IBA:

The Institute of Business Appraisers is the oldest professional society devoted solely to the appraisal of closely held businesses. Established in 1978, the Institute was the original pioneer in business appraisal education and professional accreditation. Visit www.go-iba.org

The IBA and CTI alliance has been developed as a part of IBA’s growth plan and will enable IBA to achieve important economies of scale and resources which are fostered through jointly sponsored education and conference events.  The alliance will allow members and customers of both organizations to access training courses and resources through their respective membership groups while receiving special membership discount rates and special offers normally restricted to one association.

The Consultants’ Training Institute (CTI) is comprised of the nation’s leading experts in the fields of business valuation, litigation consulting, financial forensics, and a variety of other business consulting disciplines.

 The Institute of Business Appraisers was the first organization to adopt business appraisal standards and ethics. Established in 1978, the Institute is the pioneer in business appraisal education and professional accreditation. IBA offers four business appraisal certifications, which include the Certified Business Appraiser (CBA), the Accredited in Business Appraisal Review (ABAR), the Business Valuator Accredited in Litigation (BVAL) and the highly acclaimed Master Certified Business Appraiser (MCBA) designations. 

 About IBA:

The Institute of Business Appraisers is the oldest professional society devoted solely to the appraisal of closely-held businesses.  IBA’s education focuses on showing students “how to” perform the work. Our education courses provide a unique, hands-on, interactive approach to learning. IBA measures success by the professional advancement of its members. Headquartered in Fort Lauderdale, Fl, the Institute’s members receive free technical support and FREE access IBA’s Market Database, the industries largest database of closely-held comparable business sales. To learn more about the benefits of an IBA membership, visit www.go-iba.org or call 800-299-4130.

It is in IBA membership’s interest to provide for member oversight of critical IBA activities. IBA’s leadership supports this by our Board and Committee structures. Boards and Committees work to support innovative member services through course and product development, research, authorship, instruction and setting the highest example of ethical conduct and standards.

IBA’s Boards and Committees will begin their work at this year’s conference. We will communicate clearly and often with all members as to the progress, projects and status of Board and Committee efforts.

The Pioneer of Business Valuation
The Institute of Business Appraisers was the first organization to adopt business appraisal standards and ethics. Established in 1978, the Institute is the pioneer in business appraisal education and professional accreditation. IBA offers four business appraisal certifications, which include the Certified Business Appraiser (CBA), the Accredited in Business Appraisal Review (ABAR), the Business Valuator Accredited in Litigation (BVAL) and the highly acclaimed Master Certified Business Appraiser (MCBA) designations. 

About IBA —The Institute of Business Appraisers is the oldest professional society devoted solely to the appraisal of closely-held businesses.  IBA’s education focuses on showing students “how to” perform the work. Our education courses provide a unique, hands-on, interactive approach to learning. IBA measures success by the professional advancement of its members. Headquartered in Fort Lauderdale, Fl, the Institute’s members receive free technical support and FREE access IBA’s Market Database the industries largest database of closely-held comparable business sales. To learn more about the benefits of an IBA membership, visit www.go-iba.org or call 800-299-4130.

The Institute of Business Appraisers ( IBA) has been selected as the exclusive distributor for the Guide to Property Tax Valuation and the Guide to ESOP Valuation and Financial Advisory Services, Second Edition Published by Willamette Management Associates 

Fort Lauderdale, Florida (March 2009) – The Institute of Business Appraisers has been named the exclusive distributor of Willamette Management Associates Guide to Property Tax Valuation and the Guide to ESOP Valuation and Financial Advisory Services, Second Edition, which are the latest additions to the catalog of valuation textbooks authored by the team of Robert Reilly and Robert Schweihs, managing directors of the business valuation firm of Willamette Management Associates.

The Guide to Property Tax Valuation will be of interest to both experienced property tax valuation professionals as well as those less experienced in the complicated arena of valuation for ad valorem property tax purposes. This book provides the valuation analyst the much needed and current insight for industrial and commercial taxpayers, corporations, the legal profession, state and local government taxation authorities, and regulatory agencies to follow. There are not many books of this type out in the marketplace making this edition a valuable asset for anyone looking for clarification on the many issues related to ad valorem taxation.

The Guide to ESOP Valuation and Financial Advisory Services, Second Edition expands and updates the discussion of current employee stock ownership plan (ESOP) stock valuation and financial adviser issues that were in the first edition. “The ESOP arena has significantly changed since the first edition of this book,” said Willamette principal Mike Hartman, the firm’s ESOP practice leader. “This edition focuses on the practical issues facing ESOP professionals today rather than just discussing the theoretical aspects.”

“We at IBA are thrilled to welcome Willamette to our family of publishers,” said IBA’s Marketing and Sales Analyst Grace Clarke. “Willamette’s impressive collection of business valuation books has been a constant in the industry for years.”

These books may be purchased for $59.95 each plus shipping and handling from IBA’s website at:
www.go-iba.org/new/esop.html and www.go-iba.org/new/propertytax.html.

About IBA:
The Institute of Business Appraisers is the oldest professional society devoted solely to the appraisal of closely held businesses.  Established in 1978, the Institute was the original pioneer in business appraisal education and professional accreditation.  It has approximately 2,000 members.  The IBA aims to increase awareness of business valuation as a specialized profession; to ensure that the services of qualified, ethical appraisers are widely available; to expand the available body of knowledge regarding the theory and practice of business valuation; to develop and provide essential industry information, programs and services for members; and to impact national policy and law affecting the business valuation community. IBA offers the Accredited by IBA (AIBA) and the Certified Business Appraiser (CBA), the Business Valuator Accredited in Litigation (BVAL), as well as the Accredited in Business Appraisal Review (ABAR) designations.  Over the past 30 years IBA has trained thousands of the world’s leaders in business valuation and provides more than 15,000 comparison market data requests per year.  Visit www.go-iba.org  to learn more about IBA.

March 26-27, 2009 | Miami Beach, Florida
Deauville Beach Resort
(Call 305-865-8511 ext# 3800 or reserve online using Password: BVR2009. Room rate is $249 – Book Early!)

Register for Workshop (Early Bird Price) – $625.00
(Early Bird Pricing Expires February 26, 2009)

Co-Sponsored by: The Institute of Business Appraisers and BVR.

Program Prerequisites: None
Program Level: Intermediate to Advanced
Delivery Method: Live Group Program
Advance Preparation: None

Why Should You Attend?

The Guideline Public Company Method best captures the effect of today’s volatile economy on the value of an appraisal target—and it’s more important than ever as business appraisers find that income and other approaches, with their market-based ERP and beta factors, frequently provide inflated conclusions of value. 

Never before has there been a better opportunity—or need—to develop a complete understanding of this increasingly essential valuation method.

BVR has joined with Rob Schlegel ASA, MCBA (Houlihan Valuation Advisors), the highly-rated instructor for the ASA, IBA, and other accounting organizations, to offer this one-time intensive seminar in current application of the GPCM.  Given the importance of this topic, BVR and Rob promise a dynamic, hands-on workshop that will bring newer business appraisers fully up to speed, but will also allow established professionals to hone their skills (and earn 12 CPE credits in Miami Beach).

And—to make sure that this session provides experience you can put to work immediately—attendees will work with real-time live data provided through an exclusive arrangement with FetchXL, included in your registration fee.

Highlights of this Special Workshop include:

1. GPCM research: What are the quickest, cheapest, and most dependable ways to get the data you need for your GPCM analyses?
2. Volatility and value: The Markets had 28 days in 2008 where value changed more than 4%. How do you correct your conclusions of value when the public markets lose or gain billions of dollars of value in a week?
3. Special concerns for GPCM for financial reporting
4. Correcting for capital structure and other factors: Special focus on the volatility in corporate debt/equity ratios, and how to make sure that your choice of public companies will hold up under scrutiny when dealing with income models in fair value reporting.
5. GPCM and the income approach: Using what you learn from public company comparables to make sense of adjustments to equity risk premia, betas, and company-specific risk factors
6. Market Participants: How does the regulatory and appraisal standards environment influence your choice of comparables?
7. And…an intense small-group format that guarantees the opportunity to “roll up your sleeves” and work on a variety of cases with some of the best business appraisers in the business (the workshop kicks off Wednesday night with a networking party to make sure that all participants have the opportunity to learn from one another)

Panel Includes:

Robert Schlegel, ASA, MCBA

Mr. Schlegel works closely with Houlihan Smith & Company on complex financial opinions and financings and is a Principal with Houlihan Valuation Advisors. Rob’s professional background includes extensive work in business appraisal, marital and partnership dissolutions, estate planning, market studies, statistical analysis, and forensic accounting. He has testified as an expert in Federal and Indiana courts and has directed numerous studies of business value, lost profits, pension and stock option issues, and intellectual property matters.

A frequent author and trainer, his most recent publications include article in Fair Share, the Matrimonial Law Monthly, the Matrimonial Strategist, the Indiana Lawyer, the Handbook of Business Valuation, and the Personal Property Journal from the American Society of Appraisers (”ASA”). During the past twenty years, Rob has addressed many regional and international conventions, including COMDEX, the national computer convention. Locally, he has led workshops on corporate finance and building business value for the Small Business Administration, the Planning Forum, the Indiana Institute for New Business Ventures, the Indiana Personnel Association, the Institute of Management Accountants, and the Better Business Bureau. Rob teaches financial statement analysis and valuation-related courses regularly for the Indiana CPA Society, and is a national instructor for the Institute of Business Appraisers and the ASA. During 1997, 1998, 2000 and 2002, he provided seminars on business valuation and estate issues for ICLEF, the Indiana Continuing Legal Education Forum.

Rob’s business career includes technical systems work for Burroughs Corporation in the 1960’s and the U.S. Marine Corps in the early to mid-1970’s. He served on the faculty of the Weatherhead School of Management at Case Western Reserve University for three years teaching courses in personnel, economics, organizational behavior, and information system design. Previously, Rob directed management advisory services practices for Price Waterhouse in Central Illinois, McGladrey & Pullen in the Indiana-Tennessee region, and Ford, Brinkerhoff & Koehler in Indianapolis.

Rob holds an undergraduate degree in Economics (Occidental), a Master’s degree in Labor and Industrial Relations (Michigan State), and completed his Ph.D coursework in Management (ABD/Management Information Systems Decision Systems/Case Western Reserve). A member of the panel of commercial arbitrators for the Better Business Bureau, Rob also holds a membership in the ASA, the Institute of Business Appraisers, and the National Association of Business Economists. He has received professional designations in business appraising (Master Certified Business Appraiser/Institute of Business Appraisers, and Accredited Senior Appraiser/ASA) plus four technical designations in information systems management. Rob served as President of the Indiana Chapter of the ASA from July 1998 through June 2000, and as the Society’s State Director from July 2000 through June 2002. An Elder in the Presbyterian Church, Rob and his family reside in Lawrence, Indiana.

CPE Credit Information Earn Interactive CPE Credits (Consulting Services) Business Valuation Resources, LLC is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN 37219-2417. www.nasba.org NASBA Sponsor Cancellation Policy

The Institute of Business Appraisers Co- Sponsors the 2nd Annual Fair Value for Financial Reporting Summit:
Expert Valuations. Stable Markets.
February 2-3, 2009 | Marriott New York Marquis
Earn 12 CPE credits

Register for Conference – $1125.00

Register for Conference + Add-on Session: Purchase Price Allocation 101 – $1400.00

Presenting Sponsors:

Why Should You Attend?
FAS 157 and related statements are under attack, and solid principals of business valuation appear to have been forgotten by many parties.   Appraisers, auditors, CFO’s, lawyers, and others who must make sense of the changing rules are faced with new challenges in complying with multiple financial reporting standards mean for their clients. You’re shouldering more responsibility for your clients’ compliance—whether you want to or not.
This 2nd Annual Summit on Fair Value in Financial Reporting, is the one place you can meet with leaders from FASB, the SEC, PCABO, the Big Four, the IRS, and professional leaders to hear directly from all of them what your responsibilities, risks, and opportunities truly are.   If you’re doing valuations for financial reporting, you can not afford to miss this program.
Our conference faculty includes some of the top minds in the profession. They will share with you everything they know so that you can protect yourself, your firm, and your conclusions of value.   And, you’ll get up-to-the-minute word on the new provisions, delayed implementations, and legal challenges to valuation standards as the global economy—and U.S. regulators—adapt to daily market, political forces, and valuation standards.
Highlights of the 2nd Annual Summit include:

Special Feature:   Add-on Session:   Purchase Price Allocation 101, taught by Bill Johnston, ASA

Seasoned experts—and new appraisers—can use this four-hour intensive session to master the challenges of purchase price allocations under 141R and 157.�
Tuesday, February 3, 1-5 PM.   4 CPE credits

CPE Credit Information Earn Interactive CPE Credits (Consulting Services) Business Valuation Resources, LLC is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN 37219-2417. www.nasba.org NASBA Sponsor

IBA Governors met in Dallas, Texas, in January, 2009, and approved a new governance structure for the Institute. The Governors stated that “it is in the IBA membership’s interest to provide for member oversight of critical IBA activities. IBA’s leadership shall support the organization by promoting a high level of proficiency and professionalism among its members, through its credentialing process and its mentor program. IBA accomplishes this through a Board and Committee structure. The Boards and Committees will work to support innovative member services, through course and product development, research, authorship and instruction.”

Contact your regional governor to obtain a wealth of technical support and information.

 IBA Regional Governors are elected by the membership of their respective regions to three year terms. Elections are held annually and rotate to the appropriate regions. IBA Regional Governors oversee regional educational events, help support members in their regions, host the IBA National Conference, and provide IBA Headquarters with input and feedback about IBA’s policies and programs. All IBA’s Regional Governors hold the CBA designation. Local chapters are active in several states and metropolitan areas providing members with networking and educational opportunities. For more information about existing local chapters, or starting one in your area, contact your local Regional Governor listed below or contact IBA Headquarters via email, hqiba@go-iba.org or by calling (954) 584-1144.

Mid-Atlantic – NJ, PA, OH, MD, WV, KY, VA, DE.
Rand M. Curtiss, MCBA, ASA, ASA, FIBA
President, Loveman-Curtiss We Value Your Business [curtiss.com]
Member, The American Business Appraisers National Network [businessval.com]
20010 Marchmont Road
Shaker Heights, Ohio 44122-2852
216-831-1795/1-800-749-7038F
randmcurtiss@juno.com

North Central – MI, IN, IL, WI, MN, IA, MO, NE, ND, SD, KS, Ontario.
John C. Korschot, CBA, ASA, CPA/ABV, CFA,MBA
Stern Brothers Valuation Advisors
1044 Main Street
Suite 501
Kansas City, MO 64105-2149
816-471-0005/816-842-2789F
korschot@sternbv.com

Northeast – ME, VT, NH, MA, CT, RI, NY, Nova Scotia, Quebec.
Warren Burkholder, CBI, CBA, ASA
Merrimack Business Appraisers
231 Sutton Street Suite 2K
North Andover, MA 01845
978-975-7600
Warren@MBAppraisers.com

Northwest – MT, WA, OR, ID, AK, CO, WY, British Columbia, Alberta, Manitoba.
Chris D. Treharne, MCBA, ASA, BVAL
Gibraltar Business Appraisals, Inc.
1325 Dry Creek Drive
Suite 201
Longmont, CO 80503
303-532-2545/303.532.2544F
ctreharne@4avalue.com

South Central – AR, OK, LA, TX, NM
Richard L. Schwartz, MCBA, ASA, CPA/ABV, CFE
Schwartz & Associates
11510 Fairview Road
Suite 100
Little Rock, AR 72212-2445
501-221-9900/501-221-9292F
schwartz@busvalu.com

Southeast – NC, TN, SC, MS, AL, GA, FL, PR, VI.
Gerald M. (Gary) Fodor, CBA, CFA
Financial Assets, Inc.
12600 Deerfield Parkway
Suite 100
Alpharetta, GA 30004-8535
678-566-3577
gfodor@financialassetsadvisory.com

Southwest – CA, NV, AZ, HI, UT, Far Ease, Hong Kong
Jerry F. Golanty, MCBA, BVAL
Jerry F. Golanty, Inc. BizVal
1575 Delucchi Lane Suite 115
Reno, Nevada 89502
Phone: 775-332-4881
Fax: 775-827-0137
Email: jerrygolanty@bizval.net
www.bizval.net

Governors at Large:
Paul Hyde
Bob Strachota
Marcie Bour
Linda Trugman
Steve Schroeder
Mike Eggers