BP Gulf Oil Spill Financial Loss Claims May Require Certified Business Appraisal and Valuation for Full Compensation

The BP Deepwater Horizon Oil Spill has affected countless small and large businesses operating in the coastal Gulf State regions. If you own a business that has suffered a loss due to the rupture and release of oil in the Gulf of Mexico, then you may have a claim to present to British Petroleum as well as other insurance and emergency loan organizations. The greater your company’s financial loss, the more important it is to provide legal, court-approved documentation outlining the value of your business.

Examples of the types of businesses that have suffered losses in value “directly” from the BP oil spill include: commercial fishermen, oyster and seafood processing businesses, recreational businesses along the coast that depend on the tourist trade, suppliers of pipes and fittings for BP’s drilling operation, businesses whose vessels ferried personnel and supplies to and from the rig, etc.

Importantly, a business may have suffered a loss in revenue and earnings “indirectly” as a result of the BP oil spill.  This is still a compensable loss!  These include suppliers of goods and services to the fishing industry, to BP for its former drilling and extraction operations, nearby restaurants, resorts, cocktail lounges that have seen their patronage disappear, liquor stores, hotels and hotels whose guests and prospects for paying guests in the future have diminished, property/landowners, recreational tour operators — what type of business has not suffered a loss?

Operating businesses are typically appraised or valued based on their past, present and future earnings.  A knowledgeable and prospective buyer of a business will estimate (as best he or she can) what earnings will be generated in the future.  The buyer “buys” the business based on both the value of the hard assets (accounts receivable, equipment, inventory) “plus” the goodwill it has generated.

Goodwill is generally defined as the salable value of a business arising as a result of name, reputation, customer loyalty, location, products, and similar factors.

A business that has found that its capacity for generating revenues and earnings has been lost or severely damaged may have suffered a loss of its salable goodwill.  This loss is in addition to its loss of hard assets and physical property.  As an example only, a business that had generated $250,000 in annual earnings before the oil spill and finds that its earnings will be reduced to $50,000 in the future has lost $200,000 a year, each year into the future.  The $200,000 loss may translate into a loss of three, four or five times the annual loss, or $600,000 to $1,000,000, as an example.

In order to substantiate a claim for loss of value, it is recommended that you engage the services of a well-qualified business appraiser.  The valuation process that the appraiser will follow will be to interview the business owner, learn about the nature and history of the business, and why it has been a viable and profitable operation in the past.  Also, what has happened as a result of the BP oil spill that has damaged the business.  The appraiser will then prepare what is known as “before” and “after” calculations.

The “before” analysis determines the fair market value of the business “before” the damages occurred.  “But for” the oil spill, this is what the business was worth and would have been worth.  The “after” analysis determines what the business is worth “after” the disaster has diminished its value.

The difference in value between before the spill and after the spill is the loss in goodwill value that the business has sustained, and may be claimed as a loss to BP and the independent arbitrator agreed upon by the government.

If you have suffered a loss as a result of the BP Gulf Oil Spill and contamination, Business Enterprise Appraisal Company, Inc. (BEACo), established in 1972, may be of assistance.  The firm’s principal, Larry Grant, ASA, is an Accredited Senior Member of the American Society of Appraisers in the specialty of Business Valuations. Mr. Grant and his team are recognized experts in appraising businesses, goodwill, and the damages they have sustained as a result of factors outside their control.

You may access their website at: http://www.beaco.com – Email the office at: clientcontact@beaco.com – or Call directly at: 818-591-9282

Gulf Oil Spill Companies- Versar, Inc. (AMEX: VSR) TIE Technologies (PinkSheets: TTCS)

The BP Deepwater Horizon Oil Spill has affected countless small and large businesses operating in the coastal Gulf State regions. If you own a business that has suffered a loss due to the rupture and release of oil in the Gulf of Mexico, then you may have a claim to present to British Petroleum as well as other insurance and emergency loan organizations. The greater your company’s financial loss, the more important it is to provide legal, court-approved documentation outlining the value of your business.

Examples of the types of businesses that have suffered losses in value “directly” from the BP oil spill include: commercial fishermen, oyster and seafood processing businesses, recreational businesses along the coast that depend on the tourist trade, suppliers of pipes and fittings for BP’s drilling operation, businesses whose vessels ferried personnel and supplies to and from the rig, etc.

Importantly, a business may have suffered a loss in revenue and earnings “indirectly” as a result of the BP oil spill.  This is still a compensable loss!  These include suppliers of goods and services to the fishing industry, to BP for its former drilling and extraction operations, nearby restaurants, resorts, cocktail lounges that have seen their patronage disappear, liquor stores, hotels and hotels whose guests and prospects for paying guests in the future have diminished, property/landowners, recreational tour operators — what type of business has not suffered a loss?

Operating businesses are typically appraised or valued based on their past, present and future earnings.  A knowledgeable and prospective buyer of a business will estimate (as best he or she can) what earnings will be generated in the future.  The buyer “buys” the business based on both the value of the hard assets (accounts receivable, equipment, inventory) “plus” the goodwill it has generated.

Goodwill is generally defined as the salable value of a business arising as a result of name, reputation, customer loyalty, location, products, and similar factors.

A business that has found that its capacity for generating revenues and earnings has been lost or severely damaged may have suffered a loss of its salable goodwill.  This loss is in addition to its loss of hard assets and physical property.  As an example only, a business that had generated $250,000 in annual earnings before the oil spill and finds that its earnings will be reduced to $50,000 in the future has lost $200,000 a year, each year into the future.  The $200,000 loss may translate into a loss of three, four or five times the annual loss, or $600,000 to $1,000,000, as an example.

In order to substantiate a claim for loss of value, it is recommended that you engage the services of a well-qualified business appraiser.  The valuation process that the appraiser will follow will be to interview the business owner, learn about the nature and history of the business, and why it has been a viable and profitable operation in the past.  Also, what has happened as a result of the BP oil spill that has damaged the business.  The appraiser will then prepare what is known as “before” and “after” calculations.

The “before” analysis determines the fair market value of the business “before” the damages occurred.  “But for” the oil spill, this is what the business was worth and would have been worth.  The “after” analysis determines what the business is worth “after” the disaster has diminished its value.

The difference in value between before the spill and after the spill is the loss in goodwill value that the business has sustained, and may be claimed as a loss to BP and the independent arbitrator agreed upon by the government.

If you have suffered a loss as a result of the BP Gulf Oil Spill and contamination, Business Enterprise Appraisal Company, Inc. (BEACo), established in 1972, may be of assistance.  The firm’s principal, Larry Grant, ASA, is an Accredited Senior Member of the American Society of Appraisers in the specialty of Business Valuations. Mr. Grant and his team are recognized experts in appraising businesses, goodwill, and the damages they have sustained as a result of factors outside their control.

You may access their website at: http://www.beaco.com – Email the office at: clientcontact@beaco.com – or Call directly at: 818-591-9282

Versar, Inc. (AMEX: VSR)
On Tuesday, May 18th, Versar, Inc. deployed a team of scientists to the Gulf coast region to provide technical support in response to the oil spill. Versar, Inc. offers a wide array of ecological assessments, statistical analyses, and modeling services that provide scientifically sound and defensible bases for environmental management decisions. The company was selected due to its rapid response capabilities and over 35 years of ecological monitoring and surveying experience. It has expertise in both oil spill response and Natural Resource Damage Assessment and is able to quickly respond to incidents of this magnitude. On-scene Versar scientists will be remotely supported by other Versar divisions with modeling, meteorology, fisheries ecology, sensitive habitat and other technical expertise.

TIE Technologies (PinkSheets: TTCS)
TIE Technologies is a science and technology driven systems integration, security, smart logistics and telecommunications company. On May 19th, it announced its submission of the OilDam(R) Emergency Containment Proposal to the EPA’s Homeland Security Research Center and the U.S. Coast Guard for immediate consideration. TIE Technologies is leading a team of industry experts in providing a viable solution to keep the BP gulf oil spill away from the gulf coast shores. This team includes Geocomp Corporation, James L. Witt and Associates, Gunderboom, Inc., and Tencate Geosynthetics.

Disclosure: no positions

To view this article at World Market Media click on the link below: http://www.worldmarketmedia.com/779/section.aspx/1680/post/gulf-oil-spill-companies-versar-inc-amex-vsr-tie-technologies-pinksheets-ttcs

About World Market Media:
WorldMarketMedia.com (The Global Online Investment Community) is a high traffic stock market, news data website providing cutting edge new media products and services to publicly traded companies worldwide. Our Editor’s Desk authors insightful real-time coverage on the economy, the capital markets and their listed companies.

Oil Gone Easy to the rescue in Gulf Oil Spill

The BP Deepwater Horizon Oil Spill has affected countless small and large businesses operating in the coastal Gulf State regions. If you own a business that has suffered a loss due to the rupture and release of oil in the Gulf of Mexico, then you may have a claim to present to British Petroleum as well as other insurance and emergency loan organizations. The greater your company’s financial loss, the more important it is to provide legal, court-approved documentation outlining the value of your business.

Examples of the types of businesses that have suffered losses in value “directly” from the BP oil spill include: commercial fishermen, oyster and seafood processing businesses, recreational businesses along the coast that depend on the tourist trade, suppliers of pipes and fittings for BP’s drilling operation, businesses whose vessels ferried personnel and supplies to and from the rig, etc.

Importantly, a business may have suffered a loss in revenue and earnings “indirectly” as a result of the BP oil spill.  This is still a compensable loss!  These include suppliers of goods and services to the fishing industry, to BP for its former drilling and extraction operations, nearby restaurants, resorts, cocktail lounges that have seen their patronage disappear, liquor stores, hotels and hotels whose guests and prospects for paying guests in the future have diminished, property/landowners, recreational tour operators — what type of business has not suffered a loss?

Operating businesses are typically appraised or valued based on their past, present and future earnings.  A knowledgeable and prospective buyer of a business will estimate (as best he or she can) what earnings will be generated in the future.  The buyer “buys” the business based on both the value of the hard assets (accounts receivable, equipment, inventory) “plus” the goodwill it has generated.

Goodwill is generally defined as the salable value of a business arising as a result of name, reputation, customer loyalty, location, products, and similar factors.

A business that has found that its capacity for generating revenues and earnings has been lost or severely damaged may have suffered a loss of its salable goodwill.  This loss is in addition to its loss of hard assets and physical property.  As an example only, a business that had generated $250,000 in annual earnings before the oil spill and finds that its earnings will be reduced to $50,000 in the future has lost $200,000 a year, each year into the future.  The $200,000 loss may translate into a loss of three, four or five times the annual loss, or $600,000 to $1,000,000, as an example.

In order to substantiate a claim for loss of value, it is recommended that you engage the services of a well-qualified business appraiser.  The valuation process that the appraiser will follow will be to interview the business owner, learn about the nature and history of the business, and why it has been a viable and profitable operation in the past.  Also, what has happened as a result of the BP oil spill that has damaged the business.  The appraiser will then prepare what is known as “before” and “after” calculations.

The “before” analysis determines the fair market value of the business “before” the damages occurred.  “But for” the oil spill, this is what the business was worth and would have been worth.  The “after” analysis determines what the business is worth “after” the disaster has diminished its value.

The difference in value between before the spill and after the spill is the loss in goodwill value that the business has sustained, and may be claimed as a loss to BP and the independent arbitrator agreed upon by the government.

If you have suffered a loss as a result of the BP Gulf Oil Spill and contamination, Business Enterprise Appraisal Company, Inc. (BEACo), established in 1972, may be of assistance.  The firm’s principal, Larry Grant, ASA, is an Accredited Senior Member of the American Society of Appraisers in the specialty of Business Valuations. Mr. Grant and his team are recognized experts in appraising businesses, goodwill, and the damages they have sustained as a result of factors outside their control.

You may access their website at: http://www.beaco.com – Email the office at: clientcontact@beaco.com – or Call directly at: 818-591-9282

Versar, Inc. (AMEX: VSR)
On Tuesday, May 18th, Versar, Inc. deployed a team of scientists to the Gulf coast region to provide technical support in response to the oil spill. Versar, Inc. offers a wide array of ecological assessments, statistical analyses, and modeling services that provide scientifically sound and defensible bases for environmental management decisions. The company was selected due to its rapid response capabilities and over 35 years of ecological monitoring and surveying experience. It has expertise in both oil spill response and Natural Resource Damage Assessment and is able to quickly respond to incidents of this magnitude. On-scene Versar scientists will be remotely supported by other Versar divisions with modeling, meteorology, fisheries ecology, sensitive habitat and other technical expertise.

TIE Technologies (PinkSheets: TTCS)
TIE Technologies is a science and technology driven systems integration, security, smart logistics and telecommunications company. On May 19th, it announced its submission of the OilDam(R) Emergency Containment Proposal to the EPA’s Homeland Security Research Center and the U.S. Coast Guard for immediate consideration. TIE Technologies is leading a team of industry experts in providing a viable solution to keep the BP gulf oil spill away from the gulf coast shores. This team includes Geocomp Corporation, James L. Witt and Associates, Gunderboom, Inc., and Tencate Geosynthetics.

Disclosure: no positions

To view this article at World Market Media click on the link below: http://www.worldmarketmedia.com/779/section.aspx/1680/post/gulf-oil-spill-companies-versar-inc-amex-vsr-tie-technologies-pinksheets-ttcs

About World Market Media:
WorldMarketMedia.com (The Global Online Investment Community) is a high traffic stock market, news data website providing cutting edge new media products and services to publicly traded companies worldwide. Our Editor’s Desk authors insightful real-time coverage on the economy, the capital markets and their listed companies.

The Gulf oil spill has won hands down as being the largest oil disaster that has ever happened. With gallons of crude oil being belched into the Gulf of Mexico from the Deep Water Horizon, this oil spill has already created an irrevocable harm to the environment.

To add to the woes, an assortment of chemical dispersants, oil skimmers, and booms are being deployed by the cleanup crews for oil spill containment. The use of such oil spill cleanup procedures is giving sleepless nights to many. Several people, such as Donald M. Baltz, chairman of the oceanography and coastal sciences department at Louisiana State University, fear that these oil spill cleanup methods could end up doing more harm than the spill itself.

But BP still remains unfazed and is keen on using the toxic dispersants, booms, and skimmers. The dispersant that BP is apparently using is the hazardous kerosene-based Corexit 9500, which the EPA recommends to used only at the depth of 75 meters or more. Also Corexit 9500 does not completely absorb the oil slick but only makes them invisible, which is even more harmful in the longer run.

Also, BP seems to have no clue as to how to deal with oil that washes ashore. They are still depending on booms to do the task. They are also ready to ignore the fact that the spill is spill is 600 miles long and growing and they have only 100 miles of boom available.

Though there is a safe and effective alternative available to contain the oil spill, BP is not willing to use it in spite of recommendations from the State of Louisiana. The product recommended is Oil Gone Easy S-200, an agglomerator and bioremediation accelerator, which is effective on both shallow water and land.

The best part about is that unlike other dispersants that are kerosene based, Oil Gone Easy S-200 is nitrogen phosphorous based that promotes the growth of bacteria, which in turn breaks the oil into carbon dioxide and water. Oil Gone Easy S-200 has also been used in the oil spill cleanup of the Exxon Valdez and the Prestige Tanker Oil Spill.

Taking all this into account, it would not be wrong to say that Oil Gone Easy S-200 is the only eco-friendly way to remediate oil from the Gulf of Mexico.