Mr. Hutchings has both offered expert evidence and supported leading academic experts, including Nobel laureate Joseph Stiglitz in securities matters. Evan Cohen, 54 Las Vegas, NV. The Critical Finance Review has published “Real Options, Taxes and Financial Leverage” by Brattle Principals Stewart Myers and James Read. He has worked on cases such as Cross Refined Coal LLC, Eaton, and Salem. All rights reserved. Our economic experts evaluate capital project and procurement decisions and the valuation of R&D for major strategic or investment decisions. The Social and Economic Contributions of the Life Insurance Industry. Brattle principals Michael Cragg and Evan Cohen, associate Jehan deFonseka, and research analyst Ryan Tholanikunnel recently authored the article, “Corporate Inversion Transactions: Valuation Considerations,” featured in the July edition of Tax Notes International. This is Me - Control Profile. Brattle economists have coauthored an updated report from 2016 which found that the life insurance industry has been a critical driver of economic growth and has helped provide stability for the U.S. economy while delivering financial protection to millions of American families. Brattle Senior Associates Christine Polek and David Hutchings will present on The Knowledge Group’s webinar, “Global Transfer Pricing Litigation: Trends and Developments Explored,” taking place August 17, 2017 from 12-2 pm EST. Part of HuffPost News. This November, the citizens of California will be called to the polls to decide on a referendum which would legalize, regulate, and tax marijuana. He is a Chartered Financial Analyst (CFA) with an MBA in finance from the MIT Sloan School of Management and a BA in Economics, magna cum laude, from Cornell University and previous experience as an investment banker and an entrepreneur. Principal at The Brattle Group. What’s Wrong With 538? Ben Sacks uses two clear examples to explain how applying the ex post and ex ante methods can result in different damages amounts. Do you have info to share with HuffPost reporters? in Economics and S.B. On behalf of a foreign government, The Brattle Group was retained to value wireless spectrum in preparation for an auction. These cookies are used to improve your website experience and provide you with more personalized content. 3, Published in Deal Points, Volume XXII, Issue 1 Winter 2017, Delaware Appraisal Case Reaffirms Valuation Premium for S Corporations, Corporate Inversion Transactions: Valuation Considerations, Asset Value Trumps Discounted Cash Flow in Another Bankruptcy Valuation Dispute, Rural Metro: Another Shackelton Expedition Falls Short of the Podium, Recent Guidance from the Delaware Court of Chancery - Summer 2013. Posted: 19 Jun 2010 That’s the Power of Economics. Our economic consulting services include measuring the value of assets and identifying the value of potential improvements or changes in operational use. In antitrust and competition matters, Mr. Hutchings consults to attorneys and industry and academic experts. The Brattle Group provides consulting services and expert testimony in economics, finance, and regulation to corporations, law firms, and governments around the world. Suggested Citation: To learn more about cookies, how we use them on our site, and how to change your cookie settings, please view the section on cookies in our Privacy Statement. This page was processed by aws-apollo5 in. Brattle Principal Evan Cohen and Senior Associate David Hutchings will participate in The Knowledge Group’s webinar, “Recent Trends and Developments on the Organization for Economic Cooperation and Development’s (OECD) Transfer Pricing Guidelines: What You Need to Know,” taking place February 15, 2018 from 12-2 pm (EST). Brattle Principal Evan Cohen and Senior Associate David Hutchings will participate in The Knowledge Group’s webinar, “Recent Trends and Developments on the Organization for Economic Cooperation and Development’s (OECD) Transfer Pricing Guidelines: What You Need to Know,” taking place February 15, 2018 from 12-2 pm (EST). Main: +1.617.864.7900, Massachusetts Institute of Technology, Sloan School of Management, M.B.A. in Financial Engineering. Jehan R. deFonseka. Brattle consultants have authored two separate reports for the American Petroleum Institute (API) that provide a comprehensive overview of the natural gas and crude oil and product markets. We valued the utility and its potential merger partner on both a scenario- and business-segment-specific basis and simulated alternative business strategies’ impacts on the company’s earnings and overall financial performance. Principal at The Brattle Group. Our analysis required building a discounted valuation model reflecting local pricing, costs, and demand. We hope that the issues addressed in this paper motivate further discussion on critical aspects which must be addressed before marijuana is legalized. However, in the event that California chooses to legalize marijuana this November, it is imperative that discussion happens now to decide what the policy goals of taxation and regulation are, and design solutions that are ready to satisfy these goals. He has extensive experience in finance matters that include landmark decisions on economic substance, structured finance and transfer pricing. Caloric Sweetened Beverage Taxes: A Toothless Solution? But the limited size of the flex-fuel vehicle fleet (about 3% of all US vehicles), the comparative scarcity of E85 pumps at refueling stations, and the apparent lack of price competitiveness of E85 fuel, 4 are currently seriously limiting the effectiveness of this avenue for biofuel use expansion. Independent analysis, responsive execution, and compelling presentation. On June 11, 2018, the U.S. Attorney’s Office for the Southern District of New York announced a landmark settlement with the New York City Housing Authority (NYCHA) and New York City to institute a plan that will fundamentally reform the city’s public housing. To learn more, visit our Cookies page. Abstract. Our client prevailed in a rare bench opinion. We do not suppose to have designed the “perfect” post-legalization structure for marijuana use, nor are we supporting or condemning the legalization of marijuana itself. Complex contracts/derivatives in the energy industry. Provided consulting support to a taxpayer in developing expert strategy and support testifying economist in Cross Refined Coal, LLC v. Commissioner. Was involved in all areas of case development and provided in-person trial support to trial team. Complex business and legal matters require intellectually honest and analytically rigorous solutions that are thoughtfully developed and clearly communicated. Statistical review of U.S. macronutrient consumption data, 1965–2011 Americans have been following dietary guidelines, coincident with the rise in obesity, Tax Policies for Legalized Marijuana in California. Brattle Principal Benjamin Sacks will present at Juris Conferences’ 12th Annual Investment Treaty Arbitration Conference, taking place March 6, 2018 in Washington, DC. This November, the citizens of California will be called to the polls to decide on a referendum which would legalize, regulate, and tax marijuana. We would like to show you a description here but the site won’t allow us. This page was processed by aws-apollo5 in 0.126 seconds, Using the URL or DOI link below will ensure access to this page indefinitely. Their proposed framework is consistent with the guidance under both the OECD guidelines and U.S. tax law. Our valuation work covers a variety of asset classes, including derivatives, futures, options, employee stock options, and mortgage and other asset-backed securities. This November, the citizens of California will be called to the polls to decide on a referendum which would legalize, regulate, and tax marijuana. ... Evan Cohen, Michael I. Cragg, Jehan deFonseka, and Ryan Tholanikunnel Published in Tax Notes. The Brattle Group provides consulting services and expert testimony in economics, finance, and regulation to corporations, law firms, and governments around the world. Developed economic and financial analyses to model risk exposure to partnership and individual investors. Evan Cohen's 4 research works with 67 citations and 289 reads, including: Caloric Sweetened Beverage Taxes: A Toothless Solution? Led Brattle’s consulting support to attorneys and testifying experts on behalf of monoline insurers in a series of disputes regrading mortgage originators and RMBS sponsors. The Brattle Group. We estimate values of assets being purchased or sold or facing privatization or deregulation. That’s Brattle. Mr. Hutchings is also experienced in securities matters. A 2018 whitepaper that has been updated to include new statistics through April 2020 discussing the role of life insurance as a critical driver of economic growth that helps provide stability for the U.S. economy while delivering financial protection to millions of American families. ©2020 Verizon Media. He is a Chartered Financial Analyst (CFA) with two decades of experience in both standard valuation of corporations and assets, and complex valuation of subsidiaries and financial instruments. Mr. Hutchings specializes in conducting economic analysis in complex tax, securities, and antitrust matters. The Brattle Group was among the first to develop methods for the valuation of contingent terms in energy contracts utilizing option pricing theory. 19 Pages Available at SSRN: If you need immediate assistance, call 877-SSRNHelp (877 777 6435) in the United States, or +1 212 448 2500 outside of the United States, 8:30AM to 6:00PM U.S. Eastern, Monday - Friday. The Brattle Group is an economic con-sulting ﬁrm that sources and supports experts in litigation matters; Professors Allenby and Rossi are both Academic Advisors to the ﬁrm. Our economic experts use rigorous techniques to value physical, contractual, and financial assets. Photos | Summary | Follow. He specializes in valuation, damages and financial analysis across a wide range of industries, including financial services, pharmaceuticals and manufacturing. Could the high consumption of high glycaemic index carbohydrates and sugars, associated with the nutritional transition to the Western type of diet, be the common cause of the obesity epidemic and the worldwide increasing incidences of Type1 and Type 2 Diabetes? Brattle Principal Bin Zhou and Boston University Professor Dirk Hackbarth have authored a two-part paper series for Law360 on the relevance of market price in measuring fair value. We also found that the rules and characteristics of the auction were not consistent with the preconditions needed for certain conclusions of auction theory to hold. Direct: +1.416.360.4853, Massachusetts Institute of Technology, S.B. Clients have retained him to serve as an expert and to author expert reports on tax issues. Evan Cohen, CFA Principal Cambridge, MA +1.617.864.7900 Evan.Cohen@brattle.com 1 Mr. Evan Cohen specializes in financial modeling and valuation, with a focus on complex business litigation. If California chose instead to establish state-run marijuana stores, it could generate up to $2.4 billion in profits for the state. Below is a list of representative engagements for our Valuation practice. We determined that a damages estimate submitted to the arbitrators had an excessively narrow methodological scope and was contradicted by the results of more direct market-based valuation metrics. We provided testimony to international arbitrators at the American Arbitration Association’s Commercial Arbitration Tribunal.
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