September Meeting: Minor League Franchise Valuations

The September Chapter Meeting will be held on Wednesday, September 26, 2018 at the Doubletree Guest Suites in Plymouth Meeting, PA. The Board of Directors will meet at 5:30 pm; all ASA members are welcome. The general meeting starts at 6:30. The guest speaker will be Gary Loewenstern, CPA, CVA, a Principal in the Blue Bell, Pennsylvania office of HBK CPAs & Consultants, a multidisciplinary financial services firm. Mr. Loewenstern will discuss “Minor League Franchise Valuations.”

Gary earned a B.S. in Accounting from Drexel University's LeBow College of Business and was a Partner in Resnick, Amsterdam, Leshner, P.C when it merged into HBK in 2016. He has more than 30 years experience advising small business owners, including: minor league sports franchises, television broadcasters, government contractors, investment advisors, providers of information technology, food services and professionals in many fields.

Gary has represented more than 40 minor league baseball franchises since 1986.  His experience with the franchises includes; financial statement preparation, federal, state and local tax services, business valuation, expert witness testimony, budgeting, due diligence services for the buying and selling of the franchises, concession consulting, lease evaluations, internal control evaluations, and more.

Mr. Loewenstern’s presentation is sure to be of value to ASA members in all disciplines. As seating for this talk is limited, please register early for this educational and productive evening which qualifies for 2 hours credit toward ASA reaccreditation.

Dinner is $35 per person for members and guests. To pay online with your major credit card or PayPal go to the ASA Philadelphia Members Page, where you can also take advantage of the reduced cost 5-Meeting Plan this month only. Otherwise please make checks payable to ASA Philadelphia Chapter 35.  Please RSVP by Friday, September 21, to Executive Secretary Anita Luciani by mail to ASA Philadelphia, 1229 Chestnut St #232, Philadelphia, PA 19107-4140 or by email.

April Meeting: Michael Jackson Estate Valuation

The April Chapter Meeting, rescheduled from March because of weather, will be held on Wednesday, April 18, 2018 at the Doubletree Guest Suites in Plymouth Meeting, PA. The Board of Directors will meet at 5:30 pm; all ASA members are welcome. The general meeting starts at 6:30. The guest speaker will be Jay E. Fishman, FASA, Managing Director and founder of Financial Research Associates, who will discuss the intriguing “Michael Jackson Estate Valuation.”

Awards & Appointments
Jay Fishman took his Bachelor's and Master's degrees at Temple, an M.B.A. from LaSalle, and soon after founded Financial Research Associates, where he specializes in the valuations of business enterprises and their intangible assets. His awards -- among them our Chapter's Sinclair Award, and the Appraisal Foundation's Chairman's Public Service Award -- and his leadership roles, including Editor of ASA's Business Valuation Review and Chair of it's Government Relations Committee, membership on the Appraisal Foundations Appraisal Standards and Appraisal Practice Boards, to mention a few, are the tip of an iceberg of a lifetime of accomplishment and service.

Articles, Books & Courses
Jay is a prolific author, having written, often in collaboration, more than two dozen articles, many chapters, and half a dozen books, the most recent being The Business Valuation Bench Book with William Morrison (2017) and A Consensus View Q&A Guide to Financial Valuation with James Hitchner and Shannon Pratt (2016). Much in demand as a speaker and panelist, he has talked about business valuation from coast to coast and around the world, including in Indonesia, Spain, Hungary and most recently in Italy. Jay has also developed and taught courses on business valuation for the IRS, the AICPA, the Hong Kong Society of Accountants, and on behalf of the World Bank in St. Petersburg, Russia. He also taught courses in Moscow, Russia, and for the Slovenian Institute of Auditors in Ljubljana, Slovenia.

Expert Witness Testimony
Mr. Fishman has been court-appointed to value closely held enterprises in Pennsylvania, New Jersey and other states, and has qualified as an expert witness and provided testimony in Federal District Court, United States Tax Court and in more than a dozen state courts.

It was an expert witness called by the estate that Mr. Fishman came to testify last February in the case of the Estate of Michael J. Jackson et al. v. Commissioner of Internal Revenue in U.S. Tax Court in Los Angeles. It was there that he famously said "I call it like being in a nuclear winter."

ASA Credit
Jay’s talk about evaluating the publicity rights in the Michael Jackson case is sure to be interesting and informative. As seating for this talk is limited, please register early for this educational and productive evening which qualifies for 2 hours credit toward ASA reaccreditation.

Payment
Dinner is $35 per person for members and guests. To pay online with your major credit card or PayPal go to the ASA Philadelphia Members Page. Otherwise please make checks payable to ASA Philadelphia Chapter 35.  Please RSVP by Friday, April 12, to Chapter President Sheila Gorman by mail to 10 Presidential Blvd, Bala Cynwyd PA 19004, email, or phone (484-270-1240).

SAVE THE DATE: 2018 Business Valuation Seminar

SAVE THE DATE
The Philadelphia Chapter of the ASA will hold its 13th Annual Spring Business Valuation Seminar program on Friday, April 27, 2018, at the Doubletree Hotel in Plymouth Meeting, PA. The program will include a variety of topics presented by key thought leaders.

PROGRAM
The presenters and topics will be announced shortly.

CONTINUING EDUCATION CREDITS
The Seminar qualifies for eight (8) credit hours for ASA purposes. ASA National is a NASBA sponsor and has advised the Philadelphia Chapter that the PA Board of Accountancy and other state boards will honor CEs from our program for CPAs. In addition to NASBA, the ASA is a sponsor to other organizations, and any questions regarding CEs can be directed to Sheila K. Gorman, ASA.

INFORMATION
Sheila K. Gorman, ASA at sgorman@finresearch.com or (484)-270-1240
Frank L. Merenda, ASA at fmerenda@eacvaluations.com or (610)-687-5855

September Meeting: Hacking​ ​Away -- Cybersecurity​ ​for​ ​Businesses​ ​Today

The September Chapter Meeting will be held on Wednesday, September 20, 2017 at the Doubletree Guest Suites in Plymouth Meeting, PA. The Board of Directors will meet at 5:30 pm; all ASA members are welcome. The general meeting starts at 6:30. The guest speaker will be Rebecca Rakoski, Esq., co-founder and managing partner at XPAN Law Group in Philadelphia, a boutique practice focused on cybersecurity and data privacy. Ms. Rakoski will​ ​discuss​ ​the ​various​ ​types​ ​of​ ​“hacking”​ ​incidents and how to approach and protect your business.

Rebecca earned a JD at Widener University School of Law and before that a BS in biology from Washington College. She worked for more than a decade in a large regional firm where she specialized in complex federal and state court litigation, developing a unique expertise in cybersecurity, privacy and electronic discovery. Her presentation​ ​will​ ​discuss​ ​the differences​ ​between​ ​the​ ​various​ ​types​ ​of​ ​“hacking”​ ​incidents, and offer guidance​ ​on how​ ​​to​ ​approach​ ​and​ ​protect​ against cybersecurity threats. She will emphasize the risks​ ​associated​ ​with​ ​HR​ ​data​ ​and​ ​personal​ ​identifiable​ ​information​ ​(PII)​, and talk about optimal network infrastructure designs for firms collecting ​sensitive​ ​data.

Ms. Rakoski’s presentation is sure to be of value to ASA members in all disciplines. As seating for this talk is limited, please register early for this educational and productive evening which qualifies for 2 hours credit toward ASA reaccreditation.

Dinner is $35 per person for members and guests. To pay online with your major credit card or PayPal go to the ASA Philadelphia Members Page, where you can also take advantage of the reduced cost 5-Meeting Plan this month only. Otherwise please make checks payable to ASA Philadelphia Chapter 35.  Please RSVP by Friday, September 15, to Executive Secretary Joanne Paciello by mail to 8 Terrace Rd, Plymouth Meeting, PA 19462, email, phone (610-277-1366) or fax (610-277-1366).

March Meeting: Patent Opinions and Prosecution

The March Chapter Meeting will be held on Wednesday, March 15, 2017 at the Doubletree Guest Suites in Plymouth Meeting, PA. The Board of Directors will meet at 5:30 pm; all ASA members are welcome. The general meeting starts at 6:30. The guest speaker will be Patrick M. Brady III, a Registered Patent Attorney at SnyderLAW LLC in Wayne PA (and former Lead Mechanical Engineer at Lockheed Martin). Mr. Brady will talk about “Patent Opinions and Prosecution” (and maybe “Rocket Science”).

Mr. Brady earned a JD at Temple's Beasley School of Law (2001) and before that an MSME in Structural Mechanics and Dynamics at Rensselaer Polytechnic Institute (1990). As a patent attorney, he counsels clients about intellectual property protection, including patentability opinions, due diligence, trademark prosecution, trade secrets and guidance relative to copyright filings. But he is equally comfortable talking about mechanical devices, mechanisms, composite materials, structures and electronic packaging, and he has a general understanding of software, electrical, materials and processes. And he is knowledgeable about service and employment contracts as well as corporate and partnership formation.

Mr. Brady’s presentation is sure to be of interest to ASA members in all disciplines. As seating for this talk is limited, please register early for this educational and productive evening which qualifies for 2 hours credit toward ASA reaccreditation.

Dinner is $35 per person for members and guests. To pay online with your major credit card or PayPal go to the ASA Philadelphia Members Page, otherwise please make checks payable to ASA Philadelphia Chapter 35. Please RSVP by Friday, March 10, to Executive Secretary Joanne Paciello by mail to 8 Terrace Rd, Plymouth Meeting, PA 19462, email, phone (610-277-1366) or fax (610-277-1366).

January Breakfast Meeting: Labor and Employment Issues in a Trump World

The January Breakfast Meeting will be held on Wednesday, January 18, 2017, 8:00 am at the Doubletree Guest Suites in Plymouth Meeting, PA. The guest speaker will be Samuel M. First , Esq. , Labor and Employment Chair of the Jacobs Law Group PC in Philadelphia. Mr. First will talk about "Labor and Employment Issues in a Trump World."

A graduate of the University of Pennsylvania and Temple University School of Law, Samuel First has over 20 years experience representing private and public sector employers in all aspects of labor and employment law. Admitted to practice in Pennsylvania, New Jersey, and the Third Circuit Court of Appeals, he works in several areas including alternative dispute resolution, arbitration, commercial litigation, and corporate and transnational law.

Active in professional and civic affairs -- he is Chair of the Board of the JEVS Foundation -- Samuel First has written for the Pennsylvania Employment Law Deskbook and How ADR Works, Advising Potential Defendants and lectured widely on topics ranging from "Electronic Documents in Litigation" to "Winning Retaliation Lawsuits in a Post Nassar World."

Mr. First will "focus on the impact new [Trump era] leadership at the Department of Labor and the National Labor Relations Board, along with the Republican-controlled Congress, will have in reversing the Obama administration's pro-employee, pro-union agenda."

Please register early for this educational and informative breakfast meeting which qualifies for 2 hours credit toward ASA re-accreditation.

The Breakfast is FREE for ASA Philadelphia members and $25 for guests. Family members, colleagues, and associates are welcome! To pay online with your major credit card or PayPal go to the ASA Philadelphia Members Page, otherwise please make checks payable to ASA Philadelphia Chapter 35. Please RSVP by January 13 to Executive Secretary Joanne Paciello by mail to 8 Terrace Rd, Plymouth Meeting, PA 19462, email, phone (610-277-1366) or fax (610-277-1366).

September Meeting: Hacking​ ​Away -- Cybersecurity​ ​for​ ​Businesses​ ​Today

The September Chapter Meeting will be held on Wednesday, September 20, 2017 at the Doubletree Guest Suites in Plymouth Meeting, PA. The Board of Directors will meet at 5:30 pm; all ASA members are welcome. The general meeting starts at 6:30. The guest speaker will be Rebecca Rakoski, Esq., co-founder and managing partner at XPAN Law Group in Philadelphia, a boutique practice focused on cybersecurity and data privacy. Ms. Rakoski will​ ​discuss​ ​the ​various​ ​types​ ​of​ ​“hacking”​ ​incidents and how to approach and protect your business.

Rebecca earned a JD at Widener University School of Law and before that a BS in biology from Washington College. She worked for more than a decade in a large regional firm where she specialized in complex federal and state court litigation, developing a unique expertise in cybersecurity, privacy and electronic discovery. Her presentation​ ​will​ ​discuss​ ​the
differences​ ​between​ ​the​ ​various​ ​types​ ​of​ ​“hacking”​ ​incidents, and offer guidance​ ​on how​ ​​to​ ​approach​ ​and​ ​protect​ against cybersecurity threats. She will emphasize the risks​ ​associated​ ​with​ ​HR​ ​data​ ​and​ ​personal​ ​identifiable​ ​information​ ​(PII)​, and talk about optimal network infrastructure designs for firms collecting ​sensitive​ ​data.

Ms. Rakoski’s presentation is sure to be of value to ASA members in all disciplines. As seating for this talk is limited, please register early for this educational and productive evening which qualifies for 2 hours credit toward ASA reaccreditation.

Dinner is $35 per person for members and guests. To pay online with your major credit card or PayPal go to the ASA Philadelphia Members Page, where you can also take advantage of the reduced cost 5-Meeting Plan this month only. Otherwise please make checks payable to ASA Philadelphia Chapter 35.  Please RSVP by Friday, September 15, to Executive Secretary Joanne Paciello by mail to 8 Terrace Rd, Plymouth Meeting, PA 19462, email, phone (610-277-1366) or fax (610-277-1366).

September Meeting: The Real Estate Market and Valuation Issues

The September Chapter Meeting will be held on Wednesday, September 21, 2016 at the Doubletree Guest Suites in Plymouth Meeting, PA. The Board of Directors will meet at 5:30 pm; all ASA members are welcome. The general meeting starts at 6:30. It will include the installation of the 2016-2017 Chapter Officers and presentation of the 2016 George D. Sinclair Award.

The guest speaker will be Neil F. Axler, a Director at RSM US LLP’s New York office specializing in Real Estate Valuation Services. He will talk about “The State of the Real Estate Market and Current Valuation Issues.” A graduate of Clarion University of Pennsylvania, Mr. Axler’s career path included stops at Arthur Andersen, Deloitte, Marshall & Stevens, and most recently at FMV Opinions.

With over 20 years of valuation consulting experience here and abroad, Mr. Axler’s current projects include valuations for financial reporting; trust and estate; federal government agencies; special servicers; tax appeals; litigation; bankruptcy and restructuring. A popular speaker, panelist and author, he has first-hand knowledge of the economic, financial and market factors that drive the development of public real estate policy.

As seating for this talk is limited, please register early for this educational and productive evening which qualifies for 2 hours credit toward ASA reaccreditation.

Dinner is $35 per person for members and guests. Members: Last chance this season to buy the 5 Meeting Plan for $110 – a $65 saving! To pay online with your major credit card or PayPal go to the ASA Philadelphia Members Page, otherwise please make checks payable to ASA Philadelphia Chapter 35. Please RSVP by Friday, September 11, to Executive Secretary Joanne Paciello by mail to 8 Terrace Rd, Plymouth Meeting, PA 19462, email, phone (610-277-1366) or fax (610-277-1366).

SAVE THE DATES. This is the first meeting of the 2016-2017 season. Other meetings, all at the Doubletree, are November 16, January 18 (Breakfast) and March 15. A May dinner meeting at a special venue is also planned but not finalized.

7-Hour National USPAP Update Course

The Philadelphia Chapter of the American Society of Appraisers will sponsor an all-discipline National USPAP 2016-2017 7-hour Update Course on Thursday, September 15, 2016 from 9:00 am to 5:00 pm.  The course will be held at the Marriott SpringHill Suites, 430 Plymouth Rd, Plymouth Meeting, PA 19462 (Phone: 610-940-0400).  The instructor will be Robert J. Luciani, ASA.  Sign-in starts at 8:30 am.

The National USPAP Update Course from the Appraisal Foundation is a one-day course that focuses on recent changes to USPAP requirements for ethical behavior and competent performance by appraisers.  This course, which clarifies several commonly misunderstood aspects of USPAP, will aid appraisers in all areas of appraisal practice seeking updated USPAP competency, including those subject to state licensing or certification and continuing education requirements imposed by professional organizations, client groups, or employers.
 
This course is required for all State Licensed or Certified Real Property Appraisers and Assessors.

The cost of the 1-day course is $155 per person and includes a course manual, morning and afternoon coffee breaks, snacks and soft drinks.  The USPAP 2016-2017 book is available to attendees at the discounted price of $65. Attendees must either purchase the book or bring a laptop or tablet with Internet access to class.

Seating is limited, so please register early for the course, which meets the USPAP continuing education requirements for most appraisers, including the ASA requirement of one 7-hour USPAP update course every five years for accredited (AM, ASA, FASA) appraisers.

To pay online with your major credit card or PayPal go to the ASA Philadelphia Members Page, otherwise please make checks payable to ASA Philadelphia Chapter 35 and mail to Executive Secretary Joanne Paciello, 8 Terrace Rd, Plymouth Meeting, PA 19462.  RSVP by email, phone (610-277-1366) or fax (610-277-1366).

March Meeting: Emerging Economic Trends

The March Chapter Meeting will be held on Wednesday, March 16, 2016 at the Doubletree Guest Suites in Plymouth Meeting, PA. The Board of Directors will meet at 5:30 pm; all ASA members are welcome. The general meeting starts at 6:30. The guest speaker will be Gary A. Wagner, Regional Economic Advisor of the Corporate Affairs Department of the Federal Reserve Bank of Philadelphia. Dr. Wagner will talk about “Emerging Economic Trends.”

Dr. Wagner is responsible for conducting research on emerging regional economic issues and managing legislative outreach for the Federal Reserve Bank of Philadelphia's Third District, which includes eastern Pennsylvania, southern New Jersey, and Delaware. Dr. Wagner also delivers presentations about the national and regional economy, monetary policy, and the role of the Federal Reserve System. His research interests range from regional economics to state and local public tax structures and from rainy day funds to borrowing costs and pension systems.

Dr. Wagner did his undergraduate work in economics and political science at Youngstown State University and took his Ph.D. in economics at West Virginia University. Before joining the Philadelphia Fed in 2015, he was a Professor of economics at Old Dominion University in Virginia, having previously taught at the University of Arkansas, Duquesne University, and the University of North Carolina. He is the author or coauthor of more than 40 articles and reports, many of which have appeared in leading professional journals. He received the Business Distinguished Research Award from Duquesne, as well as Public Finance Review's Outstanding Paper Award. From 2013 to 2015, Wagner was a respondent to the Philadelphia Fed's Survey of Professional Forecasters.

Dr. Wagner’s presentation is sure to be of interest to ASA members in all disciplines. As seating for this talk is limited, please register early for this educational and productive evening which qualifies for 2 hours credit toward ASA reaccreditation.

Dinner is $35 per person for members and guests. To pay online with your major credit card or PayPal go to the ASA Philadelphia Members Page, otherwise please make checks payable to ASA Philadelphia Chapter 35. Please RSVP by Friday, March 11, to Executive Secretary Joanne Paciello by mail to 8 Terrace Rd, Plymouth Meeting, PA 19462, email, phone (610-277-1366) or fax (610-277-1366).

January Breakfast Meeting: A Case Study in Environmental Remediation

The January Breakfast Meeting will be held on Wednesday, January 20, 2016, 8:00 am at the Doubletree Guest Suites in Plymouth Meeting, PA. The guest speaker will be Florin Gheorghiu, Principal of Applied Testing and Geosciences, LLC in Bridgeport, PA. Mr. Florin will present “A Case Study in Environmental Contamination and Remediation.”

A Registered Professional Geologist in Pennsylvania, Mr. Gheorghiu holds a M.Sc. in Engineering Geology/Geophysics from the University of Bucharest, Romania. At Applied Testing and Geosciences, he leads multi-disciplinary teams in complex remedial and civil/geotechnical projects around the globe. Widely published -- he has contributed to over 20 publications -- he is also a frequent speaker on hydrogeology, groundwater control and site remediation.

Please register early for this educational and informative breakfast meeting which qualifies for 2 hours credit toward ASA reaccreditation..

The Breakfast is FREE for ASA Philadelphia members and $25 for guests. Family members, colleagues, and associates are welcome! To pay online with your major credit card or PayPal go to the ASA Philadelphia Members Page, otherwise please make checks payable to ASA Philadelphia Chapter 35. Please RSVP by January 15 to Executive Secretary Joanne Paciello by mail to 8 Terrace Rd, Plymouth Meeting, PA 19462, email, phone (610-277-1366) or fax (610-277-1366).

SAVE THE DATE: 2016 Business Valuation Seminar

The Philadelphia Chapter of the ASA will hold its 11th Annual Spring Business Valuation Seminar program on Friday, April 29, 2016, at the Doubletree Hotel in Plymouth Meeting, PA. The program will include a variety of topics presented by key thought leaders.

· Russell T. Glazer, ASA on Valuing Real Estate Holding Companies

· Nathan DiNatale on Purchase Price Allocation

· Courtney S. White, ASA on Craft Brewery Valuation

· Glen Birnbaum, AM on Working Capital And Value

· Mark S. Gottlieb on Advanced Risk Issues In Business Valuation.

For more information, please contact the seminar organizer, Bob Haas at rhaasjr@rmha.com or (215) 887-6500, or Joanne Paciello at asaphiladelphia@verizon.net.

November Meeting: Preview of Next USPAP Changes

The November Chapter Meeting will be held on Wednesday, November 18, 2015 at the Doubletree Guest Suites in Plymouth Meeting, PA. The Board of Directors will meet at 5:30 pm; all ASA members are welcome. The general meeting starts at 6:30. The guest speaker will be Chapter Member and Past President, Robert J. Luciani, ASA, who will preview the “Changes to USPAP Effective January 1, 2016.”

A PA Certified Real Estate Appraiser & Assessor, Mr. Luciani is also a PA Licensed Real Estate Broker. He is an Adjunct Professor of Real Estate at the Community College of Philadelphia and a Deputy Assessor in the Office of Property Assessment for the City of Philadelphia. Chapter Members are all familiar with the courses he teaches as an AQB (Appraiser Qualifications Board) Certified USPAP Instructor.

Mr. Luciani’s presentation is sure to be of interest to ASA members in all disciplines. As seating for this talk is limited, please register early for this educational and productive evening which qualifies for 2 hours credit toward ASA reaccreditation.

Dinner is $35 per person for members and guests. To pay online with your major credit card or PayPal go to the ASA Philadelphia Members Page, otherwise please make checks payable to ASA Philadelphia Chapter 35. Please RSVP by Friday, November 13, to Executive Secretary Joanne Paciello by mail to 8 Terrace Rd, Plymouth Meeting, PA 19462, email, phone (610-277-1366) or fax (610-277-1366).

September Meeting: Accounting Standards Updates

The September Chapter Meeting will be held on Wednesday, September 16, 2015 at the Doubletree Guest Suites in Plymouth Meeting, PA. The Board of Directors will meet at 5:30 pm; all ASA members are welcome. The general meeting starts at 6:30. It will include the installation of the 2015-2016 Chapter Officers and presentation of the 2015 George D. Sinclair Award.

The guest speaker will be Albert A. Lazo, Director of Valuation Services at Brinker Simpson & Company, headquartered in Springfield PA. Mr. Lazo will review recent Accounting Standards Updates (ASUs) and their impact on business valuation.

Mr. Lazo is a Certified Valuation Analyst (CVA) with more than 15 years business consulting experience, including 10 in valuation services. A graduate of the University of Vermont with a BA in Mathematics, he took his MBA in International Business & Finance at Virginia Tech. Before joining Brinker Simpson & Company, he worked in valuation at KPMG and BDO.

With Michael Simpson, Al leads his firm’s valuation practice , which serves Fortune 500 and middle market clients, including energy, oil, chemical, retail, and manufacturing companies. Their practice ranges from business, gift and estate tax valuation to purchase price allocation and goodwill impairment.

As seating for this talk is limited, please register early for this educational and productive evening which qualifies for 2 hours credit toward ASA reaccreditation.

Dinner is $35 per person for members and guests. Members: Last chance this season to buy the 5 Meeting Plan for $110 – a $65 saving! To pay online with your major credit card or PayPal go to the ASA Philadelphia Members Page, otherwise please make checks payable to ASA Philadelphia Chapter 35. Please RSVP by Friday, September 11, to Executive Secretary Joanne Paciello by mail to 8 Terrace Rd, Plymouth Meeting, PA 19462, email, phone (610-277-1366) or fax (610-277-1366).

SAVE THE DATES. This is the first meeting of the 2015-2016 season. Other meetings, all at the Doubletree, are November 18, January 20 (Breakfast) and March 16. A May dinner meeting at a special venue is also planned but not finalized.

March Meeting: Emerging Economic Trends

The March Chapter Meeting will be held on Wednesday, March 18, 2015 at the Doubletree Guest Suites in Plymouth Meeting, PA. The Board of Directors will meet at 5:00 pm; all ASA members are welcome. The general meeting starts at 6:30. The guest speaker will be Ardy Lynn Wurtzel, Research Associate in the Corporate Affairs Department of the Federal Reserve Bank of Philadelphia.

Ms. Wurtzel, who is also an adjunct faculty member at Temple, Rutgers and Arcadia Universities, holds a B.A. in economics and finance from Temple’s Fox School of Business, and an M.A. in economics, also from Temple.

At the Bank, Ms. Wurtzel manages economic data sets and conducts research on current economic trends. She also delivers presentations for the Bank to the business and banking community on emerging economic trends.

Ms. Wurtzel’s presentation is sure to be of interest to ASA members in virtually all disciplines. As seating is limited, please register early for this educational and productive evening which qualifies for 2 hours credit toward ASA reaccreditation.

Dinner is $35 per person for members and guests. To pay online with your major credit card or PayPal go to the ASA Philadelphia Members Page, otherwise please make checks payable to ASA Philadelphia Chapter 35. Please RSVP by Friday, March 13, to Executive Secretary Joanne Paciello by mail to 8 Terrace Rd, Plymouth Meeting, PA 19462, email, phone (610-277-1366) or fax (610-277-1366).

NOTE: Appraisers attending this meeting may also be interested in attending the 2-Hr. Pennsylvania Appraisal Law Course presented by the ASA Philadelphia Chapter​ on the same ​day, in the same location, starting at 4:00 pm.

SAVE THE DATE: 2015 Business Valuation Seminar

The Philadelphia Chapter of the American Society of Appraisers (ASA) will hold its annual Business Valuation Seminar at the Doubletree Guest Suites Hotel in Plymouth Meeting, PA on Friday, April 24, 2015.  The program includes sessions focused on

• Unlocking Private Company Wealth
• The Implied Private Company Pricing Model
• Engagement Letters: Our Biggest Protection
• Case Law Developments

Fees. Early Bird fees, which apply when registration forms and payments are submitted by March 13, are $310 for ASA Members, $340 for all others. After March 13, registration is $340 for ASA Members, $370 for all others. The fee includes meals and refreshments, and a copy of Unlocking Private Company Wealth by Z. Christopher Mercer (Peabody Publishing LP, 2014).

To pay online with your major credit card or PayPal go to the ASA Philadelphia Members Page, otherwise please make checks payable to ASA Philadelphia Chapter 35 and mail to Executive Secretary Joanne Paciello, 8 Terrace Road, Plymouth Meeting, PA 19462.  Please note that seating capacity is limited.

Credit. The program qualifies for eight hours of Continuing Education Credit (CEC) for ASA members and for members of other professional organizations which recognize NASBA credit.

Brochure.  A seminar brochure, including comprehensive information, biographies of the presenters, a registration form, refund and cancellation policies is available on the Chapter website and for download in PDF format.

Questions.  For all other questions, including CEC eligibility for your organization, please contact the seminar organizer, Bob Haas at rhaasjr@rmha.com or (215) 887-6500, or Joanne Paciello at asaphiladelphia@verizon.net.

January Breakfast Meeting: Appraiser Fraud & ASA News

The January Breakfast Meeting will be held on Wednesday, January 21, 2015 at 8:00 am at the Doubletree Guest Suites in Plymouth Meeting, PA. The guest speaker will be Gary Snowdon, ASA. Mr. Snowdon is the new Region 1 Governor and Principal Appraiser at the Albany, NY firm of Snowdon Valuation. He will talk about “Appraiser Fraud” and also about “Recent ASA Activities.”

Gary Snowdon, who received his B.A. in Education from William Paterson University and earned a Graduate Certificate in Public Management from Rockefeller College, SUNY Albany, has over 20 years experience appraising commercial and industrial real estate.  He specializes in complex commercial, industrial, and vacant land appraisals in the Hudson Valley, Capital, Saratoga, and Adirondack regions for finance, litigation support, estates, eminent domain, conservation, and other purposes.

Mr. Snowdon has served as an Appraisal Consultant to the NYS Department of Transportation and as a Regional Advisor to the NYS Secretary of State.  A NYS Certified Appraisal Instructor, he has developed and taught courses and seminars for ASA, the National Association of Independent Fee Appraisers and the Appraisal Institute. He currently serves on the ASA Real Property Committee (Education Chair), and the NAIFA Education Committee. He has also contributed to books and journals on real estate topics and writes The Snowdon Report.

Please register early for this educational and informative breakfast meeting which qualifies for 2 hours credit toward ASA reaccreditation..

The Breakfast is FREE for ASA Philadelphia members and $25 for guests. Family members, colleagues, and associates are welcome! To pay online with your major credit card or PayPal go to the ASA Philadelphia Members Page, otherwise please make checks payable to ASA Philadelphia Chapter 35. Please RSVP by January 16 to Executive Secretary Joanne Paciello by mail to 8 Terrace Rd, Plymouth Meeting, PA 19462, email, phone (610-277-1366) or fax (610-277-1366).

November Meeting: Cost Segregation

The November Chapter Meeting will be held on Wednesday, November 19, 2014 at the Doubletree Guest Suites in Plymouth Meeting, PA. The Board of Directors will meet at 5:00 pm; all ASA members are welcome. The general meeting starts at 6:30.

The guest speaker will be Walter O’Connell, ASA, Senior Consultant at the Wayne, Pennsylvania firm of Porto Leone Consulting, LLC, which provides valuation and cost segregation services. He will talk about “Cost Segregation.”

Mr. O'Connell holds a B.A. in Economics and B.S. in Finance from Kean University, and an M.A. in Economics from Montclair State University. He manages cost segregation studies and tangible asset valuations for Porto Leone, where he has performed and managed cost segregation studies on hundreds of properties. He has also performed tangible asset valuations for tax, book, insurance placement, due diligence, and business planning purposes in a variety of industries.

Walter will explain the meaning of cost segregation and review the basics of cost segregation in relation to commercial real estate depreciation for income tax purposes. He will also discuss the valuation tools used in the development of a qualified cost segregation study.

As seating for this talk is limited, please register early for this educational and productive evening which qualifies for 2 hours credit toward ASA reaccreditation.

Dinner is $35 per person for members and guests. To pay online with your major credit card or PayPal go to the ASA Philadelphia Members Page, otherwise please make checks payable to ASA Philadelphia Chapter 35. Please RSVP by Friday, November 14, to Executive Secretary Joanne Paciello by mail to 8 Terrace Rd, Plymouth Meeting, PA 19462, email, phone (610-277-1366) or fax (610-277-1366).

7-Hour National USPAP Update Course

The Philadelphia Chapter of the American Society of Appraisers will sponsor an all-discipline National USPAP 2014-2015 7-hour Update Course on Thursday, November 20, 2014 from 9:00 am to 5:00 pm.  The course will be held at the Marriott SpringHill Suites, 430 Plymouth Rd, Plymouth Meeting, PA 19462 (Phone: 610-940-0400).  The instructor will be Robert J. Luciani, ASA.  Sign-in starts at 8:30am.

The National USPAP Update Course from the Appraisal Foundation is a one-day course that focuses on recent changes to USPAP requirements for ethical behavior and competent performance by appraisers.  This course, which clarifies several commonly misunderstood aspects of USPAP, will aid appraisers in all areas of appraisal practice seeking updated USPAP competency, including those subject to state licensing or certification and continuing education requirements imposed by professional organizations, client groups, or employers. 

This course is required for all State Licensed or Certified Real Property Appraisers and Assessors.

The cost of the 1-day course is $135 per person and includes a student manual, coffee breaks and snacks.  The USPAP 2014-2015 book is available to attendees at the discounted price of $60. Attendees must either purchase the book or bring a laptop with Internet access to class.

Seating is limited, so please register early for the course, which meets the USPAP continuing education requirements for most appraisers, including the ASA requirement of one 7-hour USPAP update course every five years for accredited (AM, ASA, FASA) appraisers.

To pay online with your major credit card or PayPal go to the ASA Philadelphia Members Page, otherwise please make checks payable to ASA Philadelphia Chapter 35 and mail to Executive Secretary Joanne Paciello, 8 Terrace Rd, Plymouth Meeting, PA 19462.  RSVP by email, phone (610-277-1366) or fax (610-277-1366).

September Meeting: Private Company Valuation Trends

The September Chapter Meeting will be held on Wednesday, September 10, 2014 at the Doubletree Guest Suites in Plymouth Meeting, PA. The Board of Directors will meet at 5:00 pm; all ASA members are welcome. The general meeting starts at 6:30.

The guest speaker will be Bob Wegbreit, one of three partners in the West Conshohocken firm of GF Data Resources, LLC. GF Data provides valuation data on middle-market transactions backed by private equity. He will talk about “Private Company Valuation Trends: 2014 Mid-Year State of the Lower Middle Market.”

Mr. Wegbreit is a marketing and strategy specialist working in categories of printing and publishing, web-based business solutions, home services and channel distribution. He has a B.S. from Boston University, and was a Senior Vice President of Sales and Marketing for the Dismar Corporation, a national point-of-sale advertising manufacturer.

Bob will discuss proprietary valuation and cost of capital information from GF Data’s mid-year benchmarking reports. The reports, considered among the most reliable, describe completed acquisitions valued between $10-250 million. They include confidential transaction details contributed by over 220 North American private equity firms.

As seating for this talk is limited, please register early for this educational and productive evening which qualifies for 2 hours credit toward ASA reaccreditation.

Dinner is $35 per person for members and guests. Members: Last chance this season to buy the 5 Meeting Plan for $110 – a $65 saving! To pay online with your major credit card or PayPal go to the ASA Philadelphia Members Page, otherwise please make checks payable to ASA Philadelphia Chapter 35. Please RSVP by Friday, September 5, to Executive Secretary Joanne Paciello by mail to 8 Terrace Rd, Plymouth Meeting, PA 19462, email, phone (610-277-1366) or fax (610-277-1366).

SAVE THE DATES. This is the first meeting of the 2014-2015 season. Other meetings, all at the Doubletree, are November 19, January 21 (breakfast) and March 18. A May dinner meeting at a special venue is also planned but not finalized.