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By: Brent Shockley The college basketball season concludes over the next four days as the NCAA Womens Final Four (on ESPN) takes place tonight in Tampa and the Mens Final Four will be played tomorrow night on CBS. The womens game has generally been top heavy and the trend continues this year with three No.1 seeds. The only No. 1 seed to fall short of the Womens Final Four, the University of Southern California (USC), lost star guard JuJu Watkins in the second round to a torn ACL and faced 11-ti
By: Brent Shockley, CFA, CVA March Madness is upon us with the first two of the First Four play in games of the NCAA mens tournament airing tonight on TruTV. Play in games three and four for the mens bracket will take place Wednesday night on TruTV. The Womens First Four will be spread across Wednesday and Thursday nights on ESPN networks. The first round of the mens bracket features 16 games on Thursday and another 16 on Friday across four networks, with the round of 32 over the weekend to det
By: Thomas Rizzo Vol. 24 No. 9 The Peak of Contractionary Monetary Policy Today represents a shift in monetary policy as the Fed pivots from contractionary to expansionary monetary policy. In this monetary policy cycle, in an attempt to fight inflation, the Fed has raised the benchmark rate 11 times, leaving it unchanged at 5.25% – 5.50% for over a year.
By: Brent Shockley, CFA The 2024 NFL season kicked off Thursday night with a late touchdown overturned by replay to preserve a victory by the defending Super Bowl champion, Kansas City Chiefs, over the Baltimore Ravens. The second game of the NFL season will take place this evening in Sao Paulo, Brazil between the Green Bay Packers and the Philadelphia Eagles.
FedScope, Vol. 24 No. 8 B y: Thomas Rizzo Fed Meeting Decision During the July 31 st , 2024, Fed meeting, the Federal Open Market Committee (FOMC) kept the target federal funds rate unchanged at 5.25% – 5.50%. Federal Reserve Chair Jerome Powell put the possibility of an initial September rate cut on the table. During the meeting Powell mentioned, “We’re getting closer to the point at which it’ll be appropriate to reduce our policy rate”, after citing that greater progress towards lower in
FedScope, Vol. 24 No. 7 By: Thomas Rizzo US Economy: Inflation The Consumer Price Index (CPI), a key inflation gauge, rose 3.0% year over year in June, down from 3.3% in May. Economic Growth: Real Gross Domestic Product (GDP), increased at a 2.8% annual rate in the second quarter of 2024, which was greater than the 2.1% expected. Labor Market: Monthly job growth remains strong, unemployment has increased to 4.1% in June, and job openings have fallen slightly to 8.2 million.
By: Brent Shockley, Principal The 2024 Summer Olympic games officially begin today and run through Sunday, August 11 th. The opening ceremony will feature over 10,000 athletes aboard over 90 boats floating down the Seine River in Paris at 7:30pm local time and 1:30pm Eastern US time. A few sports, such as football (soccer in the US), got an early start to their opening rounds on Wednesday, July 24 th.
ValueScope healthcare compliance experts understand programs such as HIPAA Privacy & Security Programs, Training, Auditing & Claims Review, Billing & Cash Flow Management, IT Networks, All Lines of Insurance, Accounting & Tax, Accreditation, Accreditation, Chronic Care Management, and more. ValueScope’s healthcare compliance experts have experience in testifying in front of the MAC and ALJ on claims denial cases as well as healthcare fraud and abuse coding defense.
Anti Kickback Statute Stark Law, Eliminating Kickbacks in Recovery Act of 2018 (EKRA), and Anti Kickback Statute are some of the most challenging issues in physician compensation today. ValueScope’s healthcare experts conduct full audits of billing and compensation processes to determine the effectiveness of Medicare/Medicaid, Workers Compensation, and other compliance efforts.
Healthcare Litigation Support Our Healthcare litigation support services practice is focused on assisting clients who have complex and significant dispute and litigation matters. We have vast experience in healthcare valuation, healthcare fraud, and Stark Law. We are able to provide clients with expert healthcare litigation services and support by differentiating ourselves due to the following reasons: Our intensive focus on the healthcare industry for 10+ years.
Healthcare Fraud and Abuse Our healthcare valuation experts have extensive experience in fraud investigations for various types of situations. Some of the areas we have experience investigating include medical record reviews, revenue reports and assessing the legitimacy of supporting documents, documentation and coding. We are experts in assessing situations involving provider and patient kickbacks such facilities offering services to patients at a discount or billing a different service, so it
The Issue at Hand In the US, most courts require expert witnesses to prove damage amounts with “reasonable certainty.” In other words, has the plaintiff’s expert presented sufficient evidence to make a fair estimate of damages? To offer an opinion under Rule 702, an expert must satisfy the court that his or her opinion is: Guided by principles, and Methods are regularly applied by others damages experts Reasonable certainty means that profits that form the basis of economic damages need not be
The Return of EA Sports College Football Video Game By: Brent Shockley This week marks the return of the Electronic Arts (NasdaqGS:EA) college football franchise for the first time in 11 years. The video game originated in 1993 as Bill Walsh College Football (the former head coach of Stanford University and three time Super Bowl champion with the San Francisco 49ers) but changed its label to College Football USA and then to NCAA Football.
The Return of EA Sports College Football Video Game By: Brent Shockley This week marks the return of the Electronic Arts (NasdaqGS:EA) college football franchise for the first time in 11 years. The video game originated in 1993 as Bill Walsh College Football (the former head coach of Stanford University and three time Super Bowl champion with the San Francisco 49ers) but changed its label to College Football USA and then to NCAA Football.
A New Chapter of College Football Begins in 2024 By Brent Shockley Change has been consistent throughout the history of college football, but the sport as we know it will look very different in Fall 2024. Four schools (Washington, Oregon, University of Southern California (USC), and the University of California at Los Angeles (UCLA) are leaving the Pac-12 Conference to join the Big Ten Conference for the 2024-2025 school year.
A New Chapter of College Football Begins in 2024 By Brent Shockley Change has been consistent throughout the history of college football, but the sport as we know it will look very different in Fall 2024. Four schools (Washington, Oregon, University of Southern California (USC), and the University of California at Los Angeles (UCLA) are leaving the Pac-12 Conference to join the Big Ten Conference for the 2024-2025 school year.
Disney and PENN Entertainment Team Up to Launch ESPN Bet Disney PENN & ESPN Bet Penn Entertainment (Nasdaq: PENN ) has rebranded its online sportsbook with a 10-year, $2 billion licensing deal with ESPN. The new look mobile app and website launches today, November 14th, and is available in 17 states including Arizona, Colorado, Illinois, Iowa, Indiana, Kansas, Kentucky, Louisiana, Maryland, Massachusetts, Michigan, New Jersey, Ohio, Pennsylvania, Tennessee, Virginia, and West Virginia.
Formula 1 in Las Vegas: The Race That Hopes You Don’t Sleep Brent Shockley, Director at ValueScope November 17, 2023 Formula One /1 racing returns to Las Vegas this weekend for the first time in over 40 years. The Heineken Silver Las Vegas Grand Prix 2023 is the start of a three-year contract with the city; although Formula 1 intends to support the race for at least 10 years and the entertainment and gaming hub of the U.S. intends on a “lifetime partnership” with the top class of internationa
The Value of X X, formerly Twitter, is now valued at $19 billion, according to the company’s employee equity compensation plan. This is a significant drop from the $44 billion that Elon Musk paid to acquire the company in October 2022. Several factors may have contributed to the valuation drop. The overall economic slowdown: The tech sector has been particularly hard hit by the recent economic downturn, and X is no exception.
Click to Download: Middle Market Private Equity M&A Activity – Q2 2020 Executive Summary Transaction Volume Shrinks Only 31 transactions were reported in Q2 2020, bringing the total reported transactions in 2020 to 113. Size Premium Size became an even greater pricing consideration for the middle market as transaction multiple variances widened for acquisition targets above and below $50 million.
Transcending Value – Liquidation, Monetary, Financial, and Strategic Value Blog 2 of 4: This is the second in a series of blogs that attempts to explain and distinguish between various valuation concepts, such as price, fair market value, fair value, liquidation value, intrinsic value, financial value versus strategic value, monetary versus economic value, emotional and psychic value, among others.
Click to Download: Tax Benefits of the CARES Act to Energy Companies Executive Summary Issue: As the end of 2020 draws near, the benefits to energy companies of The Coronavirus Aid, Relief, and Economic Security (CARES) Act should be kept in mind for 2020 tax filings. The CARES Act was signed into law on March 27, 2020, and includes broad measures to provide assistance, economic stimulus, and relief to American companies and individuals.
Click to Download: Update on Oil & Gas Royalties Litigation-Key Valuation Issue s Executive Summary Issue: When oil and gas prices are lower than expected, royalties go down. This is often when litigation picks up. But the real issue has to do with a lack of clarity in the text of royalty and lease documents. And this issue boils down to the valuation point, the physical location where the commodity or products are measured.
Click to Download: Transcending Fair Market Value Transcending Fair Market Value “Beauty is in the eyes of the beholder.” Margaret Wolfe Hungerford (née Hamilton), who authored many books, often under the pseudonym of ‘The Duchess’ When I think about value, I (like most in my profession) think first about fair market value (“FMV”). The classic definition of fair market value is: The price at which the property would change hands between a willing buyer and a willing seller when the
Transcending Value – Intrinsic and Fair Value Blog 1 of 4: This is the first in a series of blogs that attempts to explain and distinguish between various valuation concepts, such as price, fair market value, fair value, liquidation value, intrinsic value, financial value versus strategic value, monetary versus economic value, emotional and psychic value, among others.
Transcending Value – Liquidation, Monetary, Financial, and Strategic Value Blog 2 of 4: This is the second in a series of blogs that attempts to explain and distinguish between various valuation concepts, such as price, fair market value, fair value, liquidation value, intrinsic value, financial value versus strategic value, monetary versus economic value, emotional and psychic value, among others.
Download the white paper here. As a follow up to our more comprehensive 2017 paper and 2018 paper , this paper will strictly focus on the historical and current relationship between the S&P 500 P/E Ratio and US Interest Rates, updated to November 2022. The P/E ratio can be described as the ratio between current share price and per-share earnings.
Click to Download: ESG Valuation Considerations – Top Down or Bottom Up? Executive Summary. Issue. The term Environmental, Social & Governance, commonly called “ESG,” is not a new concept. It was a hot topic before the COVID pandemic, in discussions to measure and value how companies engaged in sustainable and societally beneficial activities.
Click to Download: Oil and Natural Gas Prices-Are They Sustainable at These Levels? Executive Summary. Issue. There are three primary drivers that must be considered when looking at oil and gas prices. First, they are commodities, and move with the complex economics of global supply and demand. Second, they are very volatile. And third, they can be significantly influenced by global, geopolitical factors.
Click to Download: How to Avoid Chapter 22 in Restructuring Work for Energy Companies. Executive Summary. Issue. It takes time and money to go through a Chapter 11 restructuring, so going through it twice in a couple of years is unwise and inefficient. Recently, it has been an issue with companies operating in the energy complex. The challenges and complexities of energy markets make reorganization plans hard to properly formulate.
Click to Download: Middle Market Private Equity M&A Activity – Q2 2020. Executive Summary. Transaction Volume Shrinks. Only 31 transactions were reported in Q2 2020, bringing the total reported transactions in 2020 to 113. Size Premium. Size became an even greater pricing consideration for the middle market as transaction multiple variances widened for acquisition targets above and below $50 million.
Click to Download: ESG A Valuation Framework. Overview. It started sometime last year, during the fourth quarter. The morning business show Squawk Box began to mention “ESG” on a daily basis. Sometimes it was one of the hosts, sometimes it was a guest. Then. there were two inflection points that marked a higher level of discourse.
Click to Download: Tax Benefits of the CARES Act to Energy Companies. Executive Summary. Issue: As the end of 2020 draws near, the benefits to energy companies of The Coronavirus Aid, Relief, and Economic Security (CARES) Act should be kept in mind for 2020 tax filings. The CARES Act was signed into law on March 27, 2020, and includes broad measures to provide assistance, economic stimulus, and relief to American companies and individuals.
Click to Download: Update on Oil & Gas Royalties Litigation-Key Valuation Issue s. Executive Summary. Issue: When oil and gas prices are lower than expected, royalties go down. This is often when litigation picks up. But the real issue has to do with a lack of clarity in the text of royalty and lease documents. And this issue boils down to the valuation point, the physical location where the commodity or products are measured.
Click to Download: Transcending Fair Market Value. Transcending Fair Market Value. “Beauty is in the eyes of the beholder.”. Margaret Wolfe Hungerford (née Hamilton), who authored many books, often under the pseudonym of ‘The Duchess’ When I think about value, I (like most in my profession) think first about fair market value (“FMV”). The classic definition of fair market value is: The price at which the property would change hands between a willing buyer and a willing seller when
Transcending Value – Intrinsic and Fair Value. Blog 1 of 4: . This is the first in a series of blogs that attempts to explain and distinguish between various valuation concepts, such as price, fair market value, fair value, liquidation value, intrinsic value, financial value versus strategic value, monetary versus economic value, emotional and psychic value, among others.
Transcending Value – Liquidation, Monetary, Financial, and Strategic Value. Blog 2 of 4: . This is the second in a series of blogs that attempts to explain and distinguish between various valuation concepts, such as price, fair market value, fair value, liquidation value, intrinsic value, financial value versus strategic value, monetary versus economic value, emotional and psychic value, among others.
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