October 2012, Volume 18, Number 1

Posted on October 1, 2012  

MABVP MONTHLY NEWS – October, 2012 Volume 18, Number 1

Next Meeting: October 18, 2012

Place:                          Schechter Dokken Kanter

100 Washington Ave. So., Suite 1600, Minneapolis, MN 55401

Time:                           Noon – 1:30 pm

Topics:                         IRS Update with Robin Ruegg, Engineering Territory Manager

Appraiser Roundtable discussion – Watch for your survey

Additional member input regarding administrative details of new BVP group

September 27, 2012 Meeting – Thanks, Tom!

At our last meeting, Tom Helling shared with the group a commentary he submitted to the Appraisal Standards Board of the Appraisal Foundation.  His analysis of the 45-page 1st and 2nd Exposure Drafts of USPAP proposed changes for 2014-2015 identified specific issues of concern to business valuation professionals. Tom led an informative discussion regarding the impact of the Exposure Draft, noting that each member has until October 5, 2012, to submit comments to the Appraisal Standards Board.

Election Results:

Congratulations to the Officers and Board Members for 2012-2013

President                     Mike Meagher

Vice President             John Heidebrecht

Secretary/Treasurer   Jennifer Schiefert

Board Members          Bill Herber

Joe Kenyon

Ginger Knutsen

Karen Kritta

Chuck Miller

Dick Thorsen

Local BV Group Update:

At the September 27th meeting, members agreed it is beneficial for the valuation community at large, as well as local BV professionals, to continue as a business valuation association independent of the IBA.  Joe Kenyon and Bill Herber are in the process of redrafting the by-laws and registering our new group, the Minnesota Association of Business Valuation Professionals, with the Secretary of State.

Program Committee Established:

Members were in favor of forming a program committee.  Dick Thorsen graciously agreed to Chair the committee.  Rick Berning, Heather Burns, Bill Herber, and Joe Kenyon volunteered to work with Dick.  The group met on Thursday, October 4, 2012 and came up with a preliminary schedule of topics and speakers.  Committee members will contact prospective speakers and publish the program calendar in the near future.

Conference Committee:

If you are interested in serving on the conference committee, please contact Mike Meagher or Dennie O’Leary.  Typically, each sponsoring group (NACVA, BVP, ASA, and UST) sends one or two representatives.  To date, the following have signed up:  Rick Berning/NACVA, John Heidebrecht/BVP, Guy Sanschagrin/ASA, and Herb Tousley/UST.  The plan is to schedule a kickoff meeting within the next two weeks.  Details will follow.

Meeting dates for the 2012-2013:

October 18, 2012 – IRS Update, with Robin Ruegg; appraiser roundtable, and further discussion of the new association’s status and mission

November 15, 2012                                        December 20, 2012 – Valuation Contest

January 17, 2013                                             February 6, 2013 (Conference)

March 21, 2013 (joint with ASA on 3/18?)     April, 2013 (No Meeting in April)

May 16, 2013

Annual Membership Dues:

Dues will remain the same – $100/year.  Invoices will be mailed this month.

Monthly Meetings:

Monthly meeting luncheon fee remains $20.  Guests and speakers are free.  Schechter Dokken Kanter will continue to host the meetings, order food, and provide AV service as needed.

Website Updates:

Mike Meagher is working on the new website.  The group selected a new logo based on designs submitted by Mike for consideration.  The following design received the most votes:




If you have additional concerns or comments, please do not hesitate to contact Mike Meagher (mwmeagher100@gmail.com) or Dennie (odennie@hotmail.com).