Bob is the President of Shenehon Company. He holds both the MAI and CBA designations and has over 30 years of appraisal experience in the commercial real estate and business enterprise valuations. During that time, he has successfully completed thousands of appraisals, including some very unusual assignments such as: railroads, riverboats, ranches, resorts, etc. Bob serves as an expert witness in Federal, State, and District Courts, as well as for commission hearings and special government proceedings. He is an ad hoc professor for three degree-accredited universities and is frequently invited to speak at valuation seminars and extension courses. He acts as a court-approved arbitrator, commissioner, and magistrate in real estate and business valuation disputes. Bob holds the highest designations from the Institute of Business Appraisers and the Appraisal Institute and he publishes in both local and national trade journals.
PROFESSIONAL QUALIFICATIONS & ASSOCIATIONS
MEMBER
LICENSED APPRAISER (CERTIFIED GENERAL)
PROFESSIONAL EXPERIENCE
Shenehon Company, Minneapolis, Minnesota
President since 1985
Shareholder since October 1980
Patchin Appraisals, Inc.
Manager, February 1978 to September 1980
Shenehon-Goodlund and Associates, Inc.
Appraiser, May 1975 to February 1978
DUTIES & RESPONSIBILITIES
Prepare professional valuations and market analysis of real estate, business enterprises and intangible property rights. Assignments have involved numerous types of real estate properties and businesses. These assignments have included highest and best use studies, mortgage financing/recapitalization, condemnation, marriage dissolution, economic loss analysis, tax abatement proceedings, feasibility analysis, investment counseling, potential sales and purchases, lease and rental analyses, bankruptcy proceedings, charitable donations, internal management decisions, easements, special assessment appeals, allocation of purchase price, going public or private, lost profits analyses, estate planning, gift tax, ESOP/ESOT, rights-of-way, valuation of limited and general partner interests in real estate and business partnerships, and insurance indemnification. Teaching experience has been with the Board of Realtors in the University of Minnesota Extension and as an adjunct professor and lecturer at the University of St. Thomas and the University of Minnesota degree programs. Court experience involves testifying at various commission hearings, district courts, tax courts, and federal courts throughout the U.S. Writing experience includes numerous published articles in various local and national trade journals. Arbitration and commissioner experience involves acting as a court approved arbitrator, commissioner or magistrate on numerous real estate and business valuation disputes. Investment experience has involved a variety of business and real estate assets. Appraisal experience has been throughout the U.S. (over 25 states) and Canada.
Bill, a Certified Business Appraiser, is Senior Vice President and Director of the Business Valuation Group at Shenehon Company. He has over 21 years of valuation experience, specializing in estate and gift, buy/sell agreements, mergers and acquisitions, marital dissolutions and special use properties. Bill is published in both local and national trade journals and has served as an instructor for numerous seminars. Bill frequently testifies in court settings, including Federal Tax Court. He received his BA in Accounting from the University of St. Thomas and is accredited as a "Certified Business Appraiser" by the Institute of Business Appraisers (IBA).
Successfully completed the following real estate and business valuation courses and seminars:
AMERICAN SOCIETY OF APPRAISERS
INSTITUTE OF BUSINESS APPRAISERS
MINNESOTA LEGAL EDUCATION
SOCIETY OF REAL ESTATE APPRAISERS 1989 SYMPOSIUM
UNIVERSITY OF MINNESOTA
PROFESSIONAL QUALIFICATIONS & ASSOCIATIONS
LICENSED APPRAISER (CERTIFIED GENERAL)
PROFESSIONAL EXPERIENCE
Shenehon Company, Minneapolis, Minnesota
Senior Vice President, Director of Business Valuation/Treasurer, since 2002
Vice President, Director of Business Valuation, Treasurer, 1985-2002
Shareholder
World Travel & Incentives, Inc.
Vice President/Controller, 1979-1985
Carlson Companies
Internal Auditor, 1978-1979
DUTIES & RESPONSIBILITIES
Prepare professional valuations and market analysis of real estate, business enterprises and intangible property rights. Appraisal assignments have involved professional practices, service businesses, retail businesses, manufacturing concerns, leasehold interests, minority interests, and limited partnerships. These assignments have included dissenting shareholder disputes, mortgage financing, initial public offerings, potential sale and purchase, estate purpose, valuation of "limited and general partner interests in real estate and business partnerships," internal management decisions, and allocation of purchase price. Current experience involves testifying at various commission hearings, State of Minnesota District Court and Federal Tax Court.
CO-AUTHORED ARTICLES
Herber, William C., and Dennis Bingham. "Major Issues Associated with the Valuation of a Business in a Divorce." American Journal of Family Law Fall 2004
Herber, William C., et al. "Challenges to Valuing an S Corporation in the Gross Environment." IBA-Business Appraisal Practice Summer 2003
Herber, William C., et al. "Operating Companies Versus Holding Companies." Valuation Viewpoint November 1995
SEMINAR PRESENTATIONS
"Challenges to Valuing an S Corporation in the Gross Environment." IBA Conference 2003
"Determining 'Fair Value' of Shares in a Privately Held Corporation." MILE: Minority Shareholder Disputes 2001
"A Case Study of Do's and Dont's in Litigation from ACD." NCCIBA: Business Valuation Seminar 2001
"Asset Approach." NCCIBA Business Valuation Seminar 2000
TEACHING EXPERIENCE
"Business Valuation Case Study." University of St. Thomas: Master of Science in Real Estate
"Mastering Appraisal Skills for Valuing the Closely Held Business." IBA 8-Day Workshop
