Expert Details
Economic and Financial Analysis, Business Valuation, Economic Damages
ID: 724803
California, USA
Expert witness examples:
- Lost profits/plaintiff: A verdict of $8.4 million was awarded in Superior Court to a closely held consumer-products company that was victimized by the diversion of its products into the “gray” market.
- Lost profits/counter-claimant: Expert helped to win a verdict of $5.5 million in federal court in favor of a marginally profitable newly established cosmetics business. This verdict was sustained on appeal to the 9th Circuit. Trade secret misappropriation/defense: Expert determined that the plaintiff’s lost profits claim, which was over $30 million, assumed an above-market sales price that could have been obtained only through an illegal tying arrangement. The case settled shortly after Expert’s deposition, with no out-of-pocket cost to the defendant, a large manufacturer. Wrongful termination/defense: A defense verdict was returned relative to the plaintiff’s demand of $1.3 million based on Expert’s testimony showing how the plaintiff, a marketing director, made $1 million on a real-estate development. Trademark infringement/plaintiff: Expert's sophisticated econometric analysis helped to achieve a verdict of $2.3 million in federal court for a company listed on the New York Stock Exchange.
Education
| Year | Degree | Subject | Institution |
|---|---|---|---|
| Year: 1973 | Degree: Ph.D. | Subject: Finance, Economics, Management Science | Institution: U. of Chicago Graduate School of Business |
| Year: 1970 | Degree: M.B.A. | Subject: Finance, Economics, Management Science | Institution: U. of Chicago Graduate School of Business |
| Year: 1967 | Degree: M.A. | Subject: Economics | Institution: University of Toronto |
| Year: 1965 | Degree: B.A.Sc. | Subject: Engineering Physics (Electrical) | Institution: University of Toronto |
Work History
| Years | Employer | Title | Department |
|---|---|---|---|
| Years: 1991 to Present | Employer: Undisclosed | Title: President | Department: |
Responsibilities:Expert testimony in business and personal litigation: evaluations of lost profits, goodwill, business value, earnings; antitrust and securities issues; intellectual property; forensic accounting; econometric and statistical analysis. Corporate financial advisory services and business valuation. Over 800 cases and 100 trials and arbitrations. |
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| Years | Employer | Title | Department |
| Years: 1987 to 1991 | Employer: QED Research, Inc. | Title: Director | Department: Los Angeles Office |
Responsibilities:He provided expert testimony in business and personal litigation: evaluations of lost profits, goodwill, business value, earnings; antitrust and securities issues; intellectual property; forensic accounting; econometric and statistical analysis; corporate financial advisory services and business valuation. |
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| Years | Employer | Title | Department |
| Years: 1983 to 1987 | Employer: First Interstate Bancorp | Title: Vice President/Manager Industry Economics | Department: Economics |
Responsibilities:He advised the Credit Policy Committee about industry economic risk factors to guide policy for allocating credit among industries in a $30 billion commercial loan portfolio. He researched and evaluated the business environment in over 40 industries considering both domestic and international economic factors. |
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| Years | Employer | Title | Department |
| Years: 1978 to 1983 | Employer: The Aerospace Corporation | Title: Manager, Economic Analysis | Department: Government Support Operations/Economic Evaluation Directorate |
Responsibilities:He evaluated financial and economic feasibility of commercialization of alternative energy technologies based on regulated-utility financial analysis and national benefit-cost analysis. He quantified private and social net benefits including externalities. He evaluated national economic benefits and costs of U.S. government policy options for energy and resource development and management. He developed economic and financial models for solar energy technologies, National Petroleum Reserve in Alaska, Strategic Petroleum Reserve, proposed West-to-East oil pipeline to deliver Alaska oil to U.S. midwest. |
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| Years | Employer | Title | Department |
| Years: 1975 to 1977 | Employer: Dart Industries, Inc. | Title: Senior Financial Analyst | Department: Corporate Financial Planning |
Responsibilities:He evaluated group five-year financial plans and capital-budget requests for $2 billion 125-division multinational consumer-products conglomerate. He forecasted operating results. He analyzed deviations from plan and advised senior management of situations and control measures. He advised senior management of industry conditions to support acquisition decisions. |
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Government Experience
| Years | Agency | Role | Description |
|---|---|---|---|
| Years: 1978 to 1980 | Agency: U.S. Dept. of Energy | Role: Economic Consultant | Description: Conducted numerous studies of the financial and economic feasibility of large-scale energy systems in the fields of solar-energy generation and oil-and-gas production, distribution and storage. |
| Years: 1980 to 1983 | Agency: U.S.Air Force Space Division | Role: Systems Consultant | Description: Cost and systems analysis for the space shuttle. |
Career Accomplishments
| Associations / Societies |
|---|
| National Association of Forensic Economics |
| Publications and Patents Summary |
|---|
| Publications: 4 |
Additional Experience
| Expert Witness Experience |
|---|
| He has been retained in over 800 cases involving measurement of economic damages to businesses and individuals for both plaintiffs and defendants. He has testified as an expert forensic economist over 100 times in trials and arbitrations. His testimony has benefited his clients in excess of $100 million. |
| Training / Seminars |
|---|
| Power Point presentation to attorneys explaining methods and processes for calculating economic damages in civil litigation. Education: University of Chicago Graduate School of Business: M.B.A. (1970), Ph.D. (1973) in Business Economics, Finance and Management Science. Doctoral dissertation integrated financial economic theory and mathematical programming to pioneer quantitative theory of optimal rebalancing of investment portfolios, advancing work of three Nobel Laureate economists. University of Toronto: B.A.Sc. in Engineering Physics-Electrical Option (1965), M.A. in Economics (1967) |
| Marketing Experience |
|---|
| He has conducted studies of over 40 U.S. industries, examining conditions of supply, demand, pricing, technology and regulatory environment in each industry. He has performed industry analyses on: aerospace, agriculture, communications, energy, financial institutions, health care, high technology, insurance, real estate, transportation and utilities at the 2-digit SIC level and many sub-industries at the 3- and 4-digit SIC level. |
| Other Relevant Experience |
|---|
| Other Employment 1973, 1974, 1975, 1977: Lecturer in Finance University of Southern California Taught Corporate Finance, Management of Financial Institutions and Management of Working Capital in graduate M.B.A. programs. |
Fields of Expertise
business valuation, valuation, economic value, Business Valuation Standards, economic appraisal, economic loss analysis, expert witness, forensics, spreadsheet software, economics, finance, financial modeling, financial planning, earnings analysis, financial analysis, loan valuation, business economics, financial forecasting, financial advisory, economic feasibility, financial market, lost profit, tort law, money, trade secret misappropriation, corporate bankruptcy, wrongful termination, business securities, wrongful death, antitrust economics, breach of contract, bankruptcy accounting, patent damage, business analysis, swap, derivative (finance), futures (finance), pension fund, private equity fund, securities finance, mutual fund, hedge fund, investment, option (finance), business, econometrics, antitrust, energy market analysis, natural resource economics, energy economics, business strategy, business operations, estimation, environmental economic analysis, business management, econometric model, Quicken, copyright, corporate strategic planning, engineering economics, accounting, technoeconomic evaluation, operating cost analysis, calculation, cost analysis, new technology business value measurement, cost-benefit analysis, life-cycle costing, strategic planning, mathematics, economic analysis