Everything is Changing (Part I of II) In this two-part article, the authors present some illustrations that indicate the illusion of value of many businesses. Business appraisers have many tools to determine the value of a closely held business. So many so, that many “official” conclusions of value for the same business generate significant differences. This borne out by the normal expectation of rebuttal reports in marital and shareholder disputes, tax litigation over estate, gift and charity values of family businesses, and fair value situations. In some instances, there are multiple valuations. Many valuations are prepared to fulfill a purpose…
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In Silicon Valley, a Culture Clash Sullies a Romance Steven M. Davidoff reports on the New York Times DealBook blog: Private equity has broken venture capital’s heart, and V.C. is not taking it well. The romance ended when Silver Lake, the private equity firm, agreed to sell Skype to Microsoft. Silver Lake is estimated to be pocketing more than $4 billion from the sale. This would normally be a joyous event for Skype’s employees as they too share the wealth. But it is nothing of the sort. The venture capital community appears to be up in arms…