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Article: Business valuations lure firms into new growth niche. (accounting firms) (Niche Strategy: Business Valuation; part 1: Market Intelligence)
- Article from:
- Accounting Today
- Article date:
- February 7, 1994
- Author:
CopyrightCOPYRIGHT 1994 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Alan Mandell, a partner with Blum, Shapiro & Co. was sitting in a Hartford, Conn., courtroom as an expert business valuator a couple of years ago listening as the opposing expert testified.
The attorney asked, "How much did you get paid for this?" The expert replied that his fee was $150.
The judge looked down over his glasses at the mention of $150.
The following day, Mandell took the stand and the same attorney asked the same question. "I said $8,000," recalls Mandell.
The judge gagged. The guy who was being paid $150 was testifying the company was worth $1.6 million. Mandell, who was getting $8,000, was valuing it at $33,000. Mandell ...