From March 24, 2010, Globe and Mail.  HERE I enjoyed this article, but disagree with the premise. If a private company vendor is being penalized on sale price for historical discretionary expenses, it tells me a few things: 1. Nobody bothered to present a normalized picture to the buyer; 2. There was no formalized sale process to encourage buyers to look a little harder at reality; and, 3. There is no professional advisor acting for the vendor, because they would know better. We’ve had numerous requests lately to re-launch the monthly Corporate Finance Journal. I think the next topic will be normalizing earnings! click for more info 

  Posted by Scott Sinclair