JAMES B. LURIE, CPA/ABV
ASA, CBA, CVA, BVAL, CIRA
Direct: (330) 343-7907 Cell: (919) 270-5511
JLurie@CapVal-LLC.com
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PROFESSIONAL EXPERIENCE
2005 - Current
CapVal, LLC. Principal. CapVal furnishes services in the fields of business appraisal, appraisal of intangible and other assets, merger and acquisition consulting, strategic planning and family succession. CapVal also provides services involving debt restructuring, business insolvency, and bankruptcy.
2002-2004
Hughes Pittman & Gupton, L.L.P., Raleigh, North Carolina (as of March 2002), Director of Valuation Services. Responsible for valuation issues and litigation support services. James B. Lurie, CPA, PLLC.
1993-2001
Dayman, Lurie & Goldsbury, P.C., CPAs and Consultants, Raleigh, North Carolina and Burlington, Vermont. Shareholder responsible for insolvency analysis, litigation support, valuation, capital formation, and corporate planning.
1990-1993
Bank of Vermont (A subsidiary of BankBoston Corporation)
Burlington, Vermont.
Senior Vice President in charge of Asset Recovery, Loan Restructuring, and Foreclosed Commercial Real Estate - Extensive experience in evaluation and financial restructuring of manufacturers, hospitality companies, and real estate. Non-performing assets reduced by over 50% from 1991 high point and classified assets reduced by approximately two thirds in last year. Tasks accomplished in a small market without adverse impact on bank's market reputation. Member of bank's Credit Committee.
1987-1990
Den norske Bank (U.S.) Banking Corporation
(A subsidiary of Den norske Bank, Oslo, Norway)
First Vice President - Officer in charge of loan recovery and restructuring group responsible for $160MM portfolio including loans to industrial companies, project financings, and loans to Latin America. Member of bank's Credit Committee.
1983-1987
Sony Corporation of America
Park Ridge, New Jersey
Assistant Treasurer, Director of Financial Operations, and Director of Credit -Responsible for working capital management including planning of over $400 million in borrowing, $150 million in investments, and a $500 million receivables portfolio. Responsible for macro-economic analysis and negotiation of long term debt. New programs in these areas produced annual savings of approximately $7 million and assisted expansion of marketing efforts.
1979-1982
Revlon, Inc.
New York, New York
Manager of Banking and Leasing Services responsible for domestic and global cash management, cash flow forecasting, and leasing for headquarters and subsidiary operations of AA-rated public company operating in over thirty countries.
1973-1979
Manufacturers Hanover Trust Company
New York, New York
Assistant Vice President responsible for over $350 million in loans and commitments including multinational and domestic credits. Responsible for the liquidation of a $26 million REIT portfolio.
1968-1973
United States Air Force (Captain)
Commander of Strategic Air Command missile crew with Squadron Command Post responsibility. Senior instructor responsible for development of training scenarios.
PROFESSIONAL STANDING AND ASSOCIATIONS
Licenses and Certifications/ Professional Associations:
Certified Public Accountant, licensed by the State of NC: License 26542
Member, American Institute of Certified Public Accountants (ABV)
Member, North Carolina Association of Certified Public Accountants
Member, American Society of Appraisers (ASA)
Member, The Institute of Business Appraisers (CBA, BVAL)
Member, National Association of Certified Valuation Analysts (CVA)
(Standards and Course Review Committee Member)
Member, Association of Insolvency and Restructuring Advisors (CIRA)
Publications and Seminars:
Basics of Valuation Presentation for the Vermont Bar Association - 1997
Valuation of Assets and Enterprises in Bankruptcy for the Vermont Bankruptcy Bar with Hon. Francis G. Conrad - 1998.
“Normalization vs. Error Correction: To Adjust or Not to Adjust is Always the Question” The Valuation Examiner, Apr-May, 1999.
“Normalization and Control Premiums” The Valuation Examiner, May-June, 2000.
“Fair Compensation, Intangibles, and Value” Business Appraisal Practice, Fall 2001.
“Introduction to Financial Statements - Understanding Financial Representation and Misrepresentation” Multiple presentations 2001-02.
“The S-Corporation, Fair Market Value, and Their Intersection with the Real World” Business Appraisal Practice, Winter 2003-2004 and presentation to the
Valuation Section of the New York State Society of Certified Public Accountants, May 17, 2004.
“The Process of Appraisal Project Development” Presentation to the Southeast Chapter of The Institute of Business Appraisers. September 18, 2004.
“Basics of Valuation in Bankruptcy and Insolvency” Seminar conducted for the National Association of Certified Valuation Analysts. December 2, 2004.
“The Rule of 10: Size Comparability and the Market Approach” Business Appraisal Practice, Winter 2004-2005. (Joint with Rand M. Curtiss and Stephen D. McMorrow)
Update and supplement of seminar on valuation of S-corporation and C-corporation interests for use at National Association of Certified Valuation Analysts State Chapter Meetings, 2005.
Presentation on Fair Value in Cases of Shareholder Dissent or Oppression at the annual conference of the National Association of Certified Valuation Analysts. June 3, 2005
“Valuation Opportunities in Family Businesses” and “Pitfalls in the Valuation of Family Businesses” for the National Association of Certified Valuation Analysts. Jersey City, NJ. November 3, 2005.
Ongoing contributor to Shannon Pratt's BV Q&A Update as member of Expert Author Panel. (Note: Publication stopped in 2005)
National Litigation Consultants' Review - Editorial Advisory Board (02/06)
TESTIMONY
Qualified as an expert witness in business valuation and banking practices in various state courts in North Carolina, Vermont, Kentucky, and Massachusetts, Federal District Court - District of Vermont, and U.S. Bankruptcy Court, Districts of Eastern North Carolina, Northern District of Georgia, and Vermont.
EDUCATION
M.S. Industrial Management, University of North Dakota, 1972
B.A. Psychology, Cum Laude, Honors College, Michigan State University, 1968