Articles

A Buyer has Approached Me About Buying My Business....Now What?

By Bill Nicholson-  At Heritage Capital Group in Jacksonville, Florida, we have had several situations where a company that was not for sale has been approached by a buyer about a business buy transaction.  The buyer may either be a principal in a private equity group, an in-market or out-of-market competitor, or…

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Top Five Reasons to Run Your Business Like an NFL Franchise

By Bill Prescott -  A perspective by Bill Prescott, who recently joined Heritage Capital Group, an investment banking firm headquartered in Jacksonville, Florida. Prior to joining Heritage, Bill was the Chief Financial Officer and Senior Vice President of Stadium Operations for the Jacksonville Jaguars NFL franch…

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A Quick & Long-Term Economic Boost

By Don Wiggins- Jacksonville, Florida. Like millions, I have thought a lot about what the U.S can do to end the current recession and guard against the next. I keep coming to the same conclusion. What characteristics would an ideal economic boost have? Well, it should be quickly achievable. It should be long-term…

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If I am Considering Selling My Business, Should I Handle it Myself or Engage an Investment Banker?

By K.C. Caldabaugh - Jacksonville, Florida. For a privately owned business, the decision to sell your business is one of the most important and often gut-wrenching decisions you will make. In many cases, the owner will have devoted the better part of his or her adult life to building the business, and the decision…

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A Universal Business Valuation Model for Closely Held Businesses

C. Donald Wiggins, D.B.A., ASA, CPA, CVA*Dilip D. Kare, Ph.D.**Jeff Madura, Ph.D.***   There is a belief among many appraisers and others involved in the valuation of closely held businesses that no single formula exists that will value a business under all circumstances. In fact, the primary guide for appraiser…

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The Effect of Capital Gains Taxes on Business Owners

By Mac Holley - Jacksonville, Florida. If you are considering selling a business, you should measure the impact of pending tax changes The special tax rate on long-term capital gains is set to expire on December 31, 2012. If Congress does not take action, the 2013 tax on long-term gains from selling a business …

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Business Valuations of Interest Rate Swaps for Financial Reporting Purposes

By Thomas L. Barton, Ph.D., CPA Douglas M. Kravet, M.B.A. C. Donald Wiggins, D.B.A., ASA, CVA, CPA/ABV, CEPA   Introduction Heritage Capital Group, Jacksonville, Florida. Interest rate swap agreements are widely used by both publicly traded and closely held companies. The market for these agreements has increas…

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How to Estimate the Effect of a Stock Repurchase on Share Price

By Dilip D. Kare and C. Don WigginsManagement AccountingMay 1987   By Don Wiggins- Jacksonville, Florida. What is the smallest amount of stock you need to repurchase in order to prevent the share price from decreasing? Each year, many companies buy back some of their own stock. They repurchase it instead of issu…

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Intra-year Cash Flow Patterns: A Simple Solution for an Unnecessary Appraisal Error

By C. Donald Wiggins (Professor of Accounting and Finance, the University of North Florida),B. Perry Woodside (Associate Professor of Finance, the College of Charleston), andDilip D. Kare (Associate Professor of Accounting and Finance, the University of North Florida)The Journal of Real Estate Appraisal and Econom…

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Matching Cash Flows and Discount Rates in Discounted Cash Flow Appraisals

By C. Donald Wiggins, D.B.A., ASA, CVA, CPA/ABV, CEPA IntroductionHeritage Capital Group, Jacksonville, Florida. There are many conceptual and practical problems inherent in the business valuation of a closely held business using discounted cash flow (DCF). One of the most critical and basic decisions an appraise…

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A Structured Approach to Growing Your Business through Mergers & Acquisitions

By Doug Kravet- Jacksonville, FL. One of the fastest ways to grow your business is by purchasing another company. Growth through acquisition can transform your business, and assist you in achieving goals such as expanding geographically, diversifying your customer base, and adding depth to your management team.  …

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Ponzi schemes: Avoiding investment disaster

By Don Wiggins- Jacksonville, Florida. We’ve recently seen story after story of investors getting ripped off by Ponzi schemes. Bernie Madoff has by far been the most visible, but there are many other crooks who try to strike it rich by convincing other people that they can help them strike it rich. During tough ec…

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Selling a Business Now May Make Economic Sense

By Don Wiggins- Jacksonville, Fl Values for public and private companies are frequently expressed as a multiple of earnings, cash flow, or some other performance measure, and there is no question that over the past year or so, multiples for companies being sold have gone down. A resulting phenomenon has been one s…

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Business Valuation Hot Topic: The Economic Impact of Taxes on S Corporation Values

By C. Donald Wiggins, D.B.A., ASA, CVA, CPA/ABV, CEPA Heritage Capital Group, Jacksonville, Florida. One of the most highly debated topics in business valuation is the treatment of income taxes in   valuing S corporations. There are two extreme positions on this point. The first is to include no   income taxes at…

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The Stimulus Package’s Problem is Physics

Don Wiggins - Heritage Capital Group, Jacksonville, FL. Recently, the big news in the U.S. has been company failures, bailouts, falling stock and real estate prices, and stimulus packages. The government can supposedly “jump-start” the economy by company bailouts, infrastructure projects, “short-term” assistance p…

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This Recession Packs a Double Whammy on Consumer Spending

By Don Wiggins - Jacksonville, FL. Consumer spending accounts for about 70 percent of the U.S. economy, so it’s a big deal. What consumers are currently spending and surveys about their confidence in the future affect the stock market, business inventory purchases, and a host of other forward-looking factors.  …

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