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Voting Control of LLC Shrinks Valuation Discount

May 2013 | Issue 66 The primary issue in Estate of Koons v. Commissioner (T.C. Memo. 2013-94, April 8, 2013) was the determination of the fair market value, at the date of his death, of John Koons’ 50.5% interest (47% voting) in a company called Central Investment LLC.  Central had been established as an entity [...] More...

Discounted Stock Options are Deferred Compensation, Says Court

April 2013 | Issue 65 Introduction A discounted stock option is one whose exercise price, at time of grant, is lower than the then fair market value of the underlying stock.  The IRS has maintained that discounted stock options will be treated as deferred compensation, pursuant to Section 409A of the Internal Revenue Code.  Such [...] More...

Market Value Trumps Dodgy DCF in Verizon Case

March 2013 | Issue 64 Introduction On November 17, 2006, Verizon Communications spun off its Yellow Pages subsidiary, Idearc, Inc.  The debt load assumed by Idearc in the transaction ultimately proved to be too heavy a burden and, 28 months later, the company went into bankruptcy. U S Bank NA, as Trustee of the Idearc [...] More...

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Professionals

Professionals Who Are Qualified

The staff at Hempstead & Co. LLC consists of a group of dedicated professionals with backgrounds in valuation, finance, accounting, economics, engineering and investment banking.

Professional designations held by Hempstead & Co. LLC appraisers include Senior Member, American Society of Appraisers (ASA), Chartered Financial Analyst (CFA) and Accredited Member (AM).

Following is a list of the valuation and financial consulting professionals at your service:

John E. Hempstead, ASA, CFA, Managing Director  jeh@hempsteadco.com

J. Mark Penny, ASA, Managing Director  jmpenny@hempsteadco.com

Daniel A. Lisman, CFA, Vice President  dlisman@hempsteadco.com

David N. Routzahn, Jr., ASA, Vice President  droutzahn@hempsteadco.com

Michael D. Cunningham, ASA, Senior Appraiser  mcunningham@hempsteadco.com

Andrew Scannell, Associate Appraiser ascannell@hempsteadco.com