appraiser

Appraisal excellence through market experience, continuing education and strategic networking

ASSOCIATION OF MACHINERY AND EQUIPMENT APPRAISERS

APPRAISER

Volume 1 Issue 23 SPRING 2012

Event News

2012 Appraisers’ Forum Another Success The Association of Machinery & Equipment Appraisers held the 2012 Appraisers’ Forum

March 22-24 at the Westin O'Hare Hotel in Rosemont, Illinois. The three-day event again proved to be an excellent educational and networking platform for industry

members. Topics covered in the 2012 Appraisers’ Forum were:

USPAP 7-hour continuing education update

presented by Jean Novotny Wise, Wise Services

Pipe and Profile Extrusion presented by Jack

Clark, Arlington Plastic Machinery Inc.

Multi Axis Turning Centers by Ken Hurwitz, CEA,

Hurwitz Machinery & Asset Valuation Services Inc.

Rolling Mills and Steel Processing Equipment by

David DiBenedetto, TDI Group LLC

Packaging Equipment presented by John Frain, The Frain Group

AMEA Panel Discussion concerning safety and etiquette in the

field during appraisal work

A Saturday warehouse tour and breakfast was hosted by The Frain Group at their facilities in Franklin Park, Illinois. Attendees saw packaging industry machinery that was

being reconditioned for customers and machinery available for sale.

▪ EVENT NEWS: 2012 Appraisers’ Forum Another Success

▪ INDUSTRY INSIGHT: Economic Outlook Update

Page 2

▪ THE AMEA EXPERIENCE: Your AMEA Board of Directors is Working Hard for the Organization in 2012

Page 3

▪ WEBINAR NEWS ▪ INDUSTRY TRENDS:

Strong Start for Manufacturing Technology Orders in 2012

Page 4

INDUSTRY TRENDS (Cont.):

▪ Manufacturers in 7 Industries Gain Back Recession Losses

▪ 2012 AMEA Events

Page 5

EQUIPMENT BASICS & VALUATION ▪ Electric Discharge Machining

(EDM) For Appraisers ▪ Glossary of EDM Terms

Page 6

HEARD ON THE STEET ▪ “Dual Purpose” Export

Regulations ▪ Major Changes in the Printing

Industry ▪ Large Milling and Contract

Machining ▪ Welcome New Members ▪ Speakers Bureau

Page 7

FROM THE BOARD ROOM ▪ Board of Directors ▪ Appraisal Foundation Update

Page 8

▪ Three Ways AMEA Can Help You

In This Issue:

Industry Insight

Economic Outlook Update

The global economic picture has not changed materially since

the start of this year. Central Banks in Europe, Japan and North

America have maintained very simulative monetary policies. The risks are well known and they have also changed very little.

Euro-zone sovereign debt remains the main downward risk

regarding both growth and inflation.

The Euro zone is now officially facing recession. Authorities are

still struggling to contain the debt crisis and avoid excessive contagion into the real economy. Even with Greece’s new rescue package there

is still inadequate economic growth. Without economic growth, public debt is unsustainable...which remains the case until economic growth becomes the

main focus of policy makers.

In the U.S., recent economic indicators have been more constructive, particularly on

the employment front. Unemployment is at 8.3%, down from 9.1% a year ago. Moreover, the Federal Reserve recently announced its intention to keep short-term interest rates

near zero at least through late 2014, despite the decline in the unemployment rate.

The labor market remains stuck with a stagnant labor force for the first time during a

period of economic recovery. More “GDP” than in 2007 is now produced with many

fewer workers than in 2007: socially and politically this is not sustainable!

One emerging “new risk” has to do with exchange rates. This is obviously not new

at all but could well boil up to the surface this year in the form of “competitive

devaluations.” In a word, no country in the world appears pleased with the value of its currency and the temptation to “do something” about it is great. Last year, we saw the

Swiss National Bank basically fix the value of the SF to the euro. This year, we could see something similar in Japan. Needless to say, the CAD is also much too high for

the good of the Canadian economy and we have seen some very worrying trends

developing here regarding manufacturing plant closures.

Carlos Leitao,

Laurentian Bank

Securities


Volume 1 Issue 23 2

AMEA APPRAISER

The AMEA Appraiser is published by

the Association of Machinery and

Equipment Appraisers

315 S. Patrick St. Alexandria, VA 22314-3532 USA

Phone: +1 703 836 7900 or +1 800 537 8629

Fax: +1 703 836 9303 Email: [email protected]

www.amea.org

Mark Robinson [email protected]

MISSION

To certify and accredit the most

qualified capital equipment appraisers in the appraisal

industry through promotion of

standards of professional practice, ethical conduct, and

market-based experience.

AMEA members are listed at: www.amea.org

No portion of the AMEA Appraiser may be reproduced without the

express permission of the AMEA.

To subscribe to AMEA Appraiser, visit

www.amea.org/contact/index.cfm.

To view AMEA Appraiser online go to:

www.amea.org/appraiser.cfm

AMEA Appraiser welcomes contributions from members and

others in the machinery and equipment appraisal community.

For details, contact: Bob Yeoman,

Editor AMEA Appraiser at [email protected]



APPRAISER

The AMEA Experience

Your AMEA Board of Directors is working

hard for the Organization in 2012 — Bob Yeoman, CEA, & Editor, AMEA Appraiser

AMEA is fortunate to have a dedicated group of hard-working individuals who volunteer their time toward serving

the organization. Through their efforts the AMEA continues to be known as a premier organization of qualified and

educated appraisers who know what they are looking at…and know what it is worth! Brian Block, CEA & AMEA Treasurer, has been named Chairman of the Personal Property

Working Group of The Appraisal Foundation Advisory Council (TAFAC) for 2012. The start of 2012 marks another transition year that brings changes to USPAP (Uniform

Standards of Professional Appraisal Practice) that all appraisers must adhere to in the writing of any appraisal report that is submitted as "USPAP Compliant." AMEA has outlined

the major changes and is providing educational opportunities to remain current through AMEA Webinars and the AMEA Appraisers’ Forum March 22-24 in Chicago, Illinois.

Changes to USPAP Standard Seven include:

New language regarding maintaining skills (7-1a).

Documenting known restrictions and encumbrances relevant to the appraisal

assignment (7-2e).

Consideration of the various uses of property (7-3a).

Analysis of the relevant economic conditions (7-3c).

Appraising multiple objects and the consideration of the significance of the

value of the individual assets to the assignment results (7-4e).

Analyze all agreements of sale, validated offers, or third party offers to sell if

warranted by the intended use of the appraisal (7-5b).

Reconcile the quality and quantity of the data available and analyzed as well

as applicability and relevance of the approaches, methods or techniques used

to arrive at value conclusions(7-6a/7-6b).

Changes to Standard Eight are the changes to reporting necessitated by changes to

Standard Seven. Revisions to definition of Client have been expanded to include third

party agents as clients. "Effective Date" has been added for clarity to "Extraordinary

Assumption,” “Hypothetical Condition,” and “Exposure Time.” All Hypothetical Conditions and Extraordinary Assumptions must be clearly labeled to ensure that the reader is not misled. The Exposure Time Opinion only applies if “exposure time" is part of the value definition. The Record Keeping rule has been moved from the ethics section so that minor

record keeping infractions do not become Ethics Violations. (The willful, or negligent keeping of records is an Ethics Violation.)

There is now required language for the certification page under USPAP. Additional items

may be added but none may be omitted from this certification requirement. In addition to the usual language contained in any General Assumption and Limiting Conditions page,

AMEA has added "Values rendered are an opinion of the appraiser and ARE NOT A GUARANTEE OF VALUE."

Please be sure to keep up to date by joining with other AMEA members during Webinar

events, visiting the AMEA Website and AMEA Back Room, attending educational events hosted throughout the year by your organization, or contacting AMEA offices.

mailto:[email protected]

http://www.amea.org/

http://www.amea.org/contact/index.cfm

http://www.amea.org/appraiser.cfm

mailto:[email protected]?subject=Appraiser%20Contributions

Visi t Our Websi te at www.AMEA.org

Spring 2012 3

Industry Trends

Strong Start for Manufacturing Technology Orders in 2012 — By Brian Block, CEA, Data contributed by USMTO (U.S. Manufacturing Technology Orders)

A joint statistical program of AMT and AMTDA January U.S. manufacturing technology orders totaled $401.69 million according to AMT - The Association For Manufacturing Technology. This total, as reported by companies

participating in the USMTO program, was down 26.5% from December but up 8.4% when compared with the total of $370.46 million reported for January 2011. These numbers and

all data in this report are based on the totals of actual data reported by companies participating in the USMTO program.

“January’s increase in manufacturing technology orders over 2011 is great in light of lower

forecasts by experts,” said AMT President Douglas K. Woods. “I think the continued growth highlights manufacturers’ increasing confidence in future growth and that their bottom lines

are being channeled into invest-ments in advanced manufacturing

technologies.”

The United States Manufacturing

Technology Orders (USMTO) report, compiled by the trade

association representing the production and distribution of

manufacturing technology, provides regional and national

U.S. orders data of domestic and imported machine tools

and related equipment. Analysis of manufacturing technology

orders provides a reliable leading economic indicator as manufacturing industries invest in capital metalworking equipment to

increase capacity and improve productivity.

U.S. manufacturing technology orders are also reported on a regional basis for five

geographic breakdowns of the United States:

Northeast Region: Northeast Region manufacturing technology orders totaled $56.01 million in January, 43.2% less than the $98.67 million total for December but 12.5% more than the total for January 2011.

Southern Region: At $35.57 million, January manufacturing technology orders in the Southern Region were down 62.1% when compared with the $93.93 million total for December and down 33.6% when compared with January a year ago.

Midwest Region: January manufacturing technology orders in the Midwest Region totaled $141.71 million, 23.8% less than December’s $186.07 million but up 24.9% when compared with the January 2011 figure.

Central Region: Central Region manufacturing technology orders in January stood at $128.30 million, 11.6% more than the December total of $115.01 million and 16.1% higher than last January’s total.

Western Region: Manufacturing technology orders in the Western Region in January totaled $40.10 million, down 24.1% from December’s $52.80 million and off 7.0% when compared with the January 2011 figure.

Webinar News:

AMEA Provides its members with regularly scheduled opportunities

to attend webinars where specific machine types and their respective

valuation considerations are

discussed in detail.

A typical one-hour machinery identification webinar reviews

all the significant attributes and capabilities of past and present-

day machinery as it is valued in today's marketplace. Presenta-

tions are rich with graphics and video to enable easy understand-

ing of the various features and functionalities of the machinery

reviewed.

Webinars wrap up with a sample

appraisal description and a

discussion of market trends.

Upcoming webinar opportunities presented by AMEA members and

other industry professionals are:

- Appraisal Theory

- USPAP Updates

- Machinery Identification

- EDM Machines

- Multi Axis Turning Centers

- Horizontal Machining Centers

Contact our AMEA Offices, or visit our website, for current Webinar news, or to make suggestions of posible topics of interest, or to be a presenter at an upcoming AMEA webinar.

Industry Trends (continued)

Manufacturers in 7 Industries Gain Back Recession Losses — Ken Hurwitz, CEA, Hurwitz Machinery & Asset Valuation Services, Inc., ON

Ottawa, ON – Manufacturing sales advanced 0.6% to $49.9 billion in December 2012, the

fifth increase in six months, according to the latest Monthly Survey of Manufacturing from

Statistics Canada. The transportation equipment industry led the gain.

Sales increased in 12 of 21 industries. The gains occurred primarily in durable goods

industries, where sales rose 2.1%. Sales of non-durable goods fell 0.9%. In terms of constant dollars, manufacturing sales rose 1.2%, the fifth increase in six months,

representing an increase in the volume of manufactured goods.

With December's increase, monthly sales for seven of 21 manufacturing industries have reached or surpassed levels recorded in October 2008, the onset of the recent economic

downturn. The largest of the seven industries includes transportation equipment, food, petroleum and coal products, and machinery manufacturing. Combined, these four

represented 51% of total manufacturing in December. December's sales, at $49.9 billion,

were just short of the pre-downturn total of $50.2 billion in October 2008.

Motor vehicle industry records highest sales since November 2007

Sales by motor vehicle manufacturers advanced 2.9% in December to $4.3 billion, the highest monthly sales level since November 2007. In addition, sales in the motor vehicle

parts industry rose 5.5% to $1.9 billion. The transportation equipment industry as a whole had the largest dollar gains of any industry, with a 3.7% increase in sales to $8.5 billion.

This was the seventh consecutive monthly increase.

Plastics and rubber products sales increased 7.5% to $2.1 billion, their highest level since

August 2007. The rise reflected higher sales volumes.

Greater sales volumes were entirely responsible for a 2.7% increase in the primary

metal industry to $4.2 billion, the third consecutive monthly gain.

The overall sales increase was partly offset by a 5.6% decline among petroleum and coal

product manufacturers to $6.9 billion. A portion of the decrease was the result of a 3.7% decline in prices for petroleum and coal products, as measured by the Industrial Product

Price Index.

Inventory levels down

Inventory levels decreased 0.9% in December to $64.4 billion, the first decline after 14

months of increases. Inventories declined in 14 of 21 industries, with non-durable goods

down 0.7% and durable goods down 1.0%.

Primary metal inventories declined 2.0% to $7.7 billion. In the food industry, inventories

decreased 2.3%, owing in part to lower stocks in the grain and oilseed milling industry.

The declines were partially offset by higher inventory levels reported by motor vehicle,

fabricated metal product, and chemical manufacturers.



APPRAISER

Volume 1 Issue 23 4

2012 AMEA Events

January

AMEA Committe & Board Meetings: Cancun, Mexico

New AMEA Standards and 2012 USPAP Update Webinars scheduled

February

Mr. Carlos Leitao, Economist for Laurentian Bank Securties gives his quarterly economic update webinar


March

AMEA Appraisers’ Forum: Chicago, Illinois, March 22-24

Re-Sale Exposition: Koelnmesse, Koeln, Germany

FabTech: Toronto, Ontario Canada

Value Definitions


April

AMEA Committee and Board Meeting: San Diego, CA

MDNA Convention: San Diego, CA, April 27-29


September

IMTS: Chicago, Illinois, September 10-15

AMEA Committee & Board Meetings: Chicago, Illinois

MDNA/IMTS National Dinner Meeting: Chicago, Illinois, September 10

For more event information:

Call the AMEA: 703-836-7900 or visit www.amea.org

http://www.amea.org/appraiser.cfm

Visi t Our Websi te at www.AMEA.org

Spring 2012 5

Equipment Basics & Valuation

Electric Discharge Machining (EDM) For Appraisers — By Scott Buth, CEA Alternative Machine Tool, LLC Dousman, WI

Scott Buth presents a webinar for the AMEA on

a regular basis and we encourage our members to attend and gain valuable insights from our

EDM expert.

There are basically three types of Electric

Discharge Machining processes, Ram Type EDM, Wire EDM and Small Hole EDM.

Ram Type EDM

Ram Type EDM is also known as sinker EDM. The electrode and work-piece together with the power supply form the circuit. The arc is usually

submerged in dielectric, commonly an oil based dielectric. The sparks strike randomly within a small area of the workpiece which eroded. The

electrode continuously moves down to maintain spark gap. The eroded material is flushed away by dielectric. The Advantages of Ram EDM:

Ability to machine deep ribs which cannot be cut with an end mill

Ability to machine a square corner

Metal removal in exotic materials which are otherwise difficult to

machine

Ability to machine fine detail

Wire EDM

Wire EDM is also known as wire cutting. With wire EDM the work-piece

and the cutting wire, together with the power source, form the electric circuit. The dielectric is usually deionized water which is used to flush

the cutting gap. The sparks form along the length of the wire and the wire is moved to advance the cut. The cutting wire is usually made of

brass and is constantly fed from a spool. The wire can be angled to make a tapered cut. The wire movements can be in up to 5 axes. The

dielectric often contains resins which are used to maintain a consistent conductivity. The dielectric pressures can be as high as 300 psi. Good

flushing is important to prevent wire breakages.

Small Hole EDM

Small hole EDM is also known as fast-hole EDM or ED-Bore. These

machines have the ability to bore small diameter holes in hardened materials with hole-depth to diameter ratio 100:1 — the typical hole

diameter ranging from 0.012” to 0.256”.

Glossary Of EDM Terms

Anode: Often used to describe the cutting tool (electrode) in the EDM process. The positive terminal of an electrolytic cell or battery.

Arc: A continuous flow of electrical current, visually recognizable as a yellow flash, between an electrode and workplace. An arc will damage both the electrode and workpiece.

Automatic Tool (Electrode) Changer (ATC): A device used with computer numerically controlled machine tools (EDM) to change tools automatically to provide automatic operation.

Contamination: The accumulation of debris in the dielectric fluid, which can cause instability and a decrease in the fluid's dielectric strength.

Core: The slug that remains after EDMing with an electrode that has a flush hole in it.

Dielectric Fluid: In EDM, a liquid medium that fills the gap between the electrode and workpiece and acts as an insulator until a specific gap and voltage are achieved. It also serves to cool the work and to flush away the particles generated by the spark.

Dither: A slight motion in the machining axis (Z) used to improve cutting stability on manual EDM machines.

Duty Cycle: The percentage of the on-time relative to the sum of the on-time and off-time setting for a particular cut.

Electrode: The tool in the EDM process. It must be made from an electrically conductive material. Its form, or shape, is a mirror image of the finished form or shape desired in the workpiece, with its dimensions adjusted to take into account the amount of over "burn" that occurs.

Graphite: In EDM, a material used for electrodes .

Head: That part of the EDM machine tool in which the quill or Ram (Z Axis) travels.

Ionization: The process by which the dielectric fluid become electrically conductive between the electrode and workpiece.

Metal Removal Rate (MRR): The rate at which material is removed from the workpiece by EDM. In the U.S., usually expressed in cubic inches/hour (in/hr).

Off-Time: The time between sparks, measured in microseconds. Too short an off-time may result in unstable machining or worse, DC arcing.

On-Time: The duration time of the EDM spark measured in microseconds.

Platen: A large flat mounting surface affixed to the end of the quill or the ram of an EDM machine, and on which the electrodes or various electrode-holding devices can be mounted.

Quench: The rapid cooling of the EDM'd surface by the dielectric fluid. .

Quill: The moving member of an EDM machine on which the electrode or electrode holder is mounted.

Ram: The moving member of an EDM machine on which the electrode or electrode holder is mounted.

Wire EDM: The electrode is a continuously spooling conducting wire that moves in preset patterns around

Wire Type Ram Type

For a complete list of terms visit our website: www.amea.org

http://www.amea.org/



APPRAISER

Volume 1 Issue 23 6

Heard On The Street

“Dual Purpose” Export Regulations Alan Cohen, Aaron Equipment Company Bensenville, IL

In 2011 Aaron experienced record global sales of process

and packaging equipment, exporting into 43 countries. We established an office in Europe and a network of

representatives to bridge language and cultural issues. MDNA members should educate themselves on the current

regulations dealing with equipment that has the potential to manufacture chemical or biological weapons or has “dual

purpose.” Equipment that meets this definition is subject to export controls by the United States Government. Regulatory compliance can create

delays, additional cost and severe liability for exporters. ”

Major Changes in the Printing Industry Nick Howard, President, Howard Graphic Equipment Ltd., Mississauga, Ontario.

Difficult market conditions for new press and related equipment suppliers have remained since the August 2008

downturn. The print industry has technology problems that need to be worked out. With the internet eating up most

data-based communication (reference, newspapers, etc.), the current size of the industry remains too big. Reductions

in the printing community continue and new machinery, especially larger 40”+ Litho sheetfeds, have seen sales

reductions of 50% since 2008. Manroland, the world’s second largest press maker, has filed for insolvency and currently the results are yet to be known. Overcapacity

remains our industry’s biggest concern but it is starting to get harder to source late model equipment too and this situation is forcing used machinery values to firm up

or even strengthen. The future looks brighter once capacity thins and the general economy gets some traction. I am somewhat bullish on the next 12 months.

Large Milling and Contract Machining Theron R. Horn, Jr., CEA, CSA Appraiser Black Rock Appraisals, Albertville, MN

Recently I spoke with customers involved in large

turning and milling. Equipment and piece parts being manufactured for the energy, mining and large project

sector is robust. A customer shared that they had just completed the remanufacturing of a large Giddings and

Lewis Multi-Pallet Mill to increase in-house capacity. They survived the “08” meltdown and their 500,000 square foot

facility is humming with orders for gas, oil and other energy projects. Another client needing a large machining center said they are milling

titanium and hard alloys. The machine they need new is $1.2 million plus an 18 months delivery. They cannot find a suitable used machine. A machine shop that services one

of the oil fields has more work then it can handle. Prices for boring mills, large turning and machining centers remain strong if one can find the available machine tools to sell.

It is simply law of supply and demand; less availability is pushing prices of this type of equipment upward."

Welcome

New Members

John Bopp

Perfection Machinery Sales, Inc.

2550 Arthur Ave.

Elk Grove Village, IL 60007

847-427-3333

[email protected]

Marvin “Kent” Gasaway

KGI Machine Tool LLC

5008 Steffani Lane

Houston, TX 77041

713-849-9555

[email protected]

Brian Batcher

TCL Asset Group Inc.

4610 Dufferin Street, Suite 209

Toronto, Ontario Canada M3H 5S4

416-736-1367

[email protected]

Joseph M. Luggen

Cincinnati Industrial Auctioneers Inc.

2020 Dunlap Street

Cincinnati, OH 45214

513-241-9701

[email protected]

Richard S. Goldstein

Machinery Trading, LLC

1649 Hickory Street

Highland Park, IL 60035

847-376-3932 [email protected]

Speakers Bureau

Would your organization benefit

by learning more about machinery

and equipment appraisal methods

and trends? AMEA appraisers are

available to speak on a wide variety

of topics. For More information

about this program, contact our

Speakers Bureau at 703.836.7900

A Message About The Appraisal Foundation — By Brian Block, CEA, and AMEA Treasurer, Chairman of TAFAC Personal Property Working Group

Understanding The Appraisal Foundation

The Appraisal Foundation is a little known entity in the personal property community which includes the Machinery & Equipment

appraisal community. Many of us recognize that it has something to do with USPAP. It is important we understand the Foundation

and its functions.

The Appraisal Foundation is mandated and funded by Congress. The mandate of the

Foundation is to provide minimum standards and qualifications for all appraisers, and to enhance the independence of the appraisal community. The Foundation consists of the

Board of Trustees (BOT), the Appraisal Practices Board (APB), the Appraisal Qualifications

Board (AQB), the Appraisal Standards Board (ASB) and several committees.

The Appraisal Practices Board is charged with the responsibility of identifying and issuing

opinions on Recognized Valuation Methods and Techniques, which may apply to all disciplines within the appraisal profession. The APB will vet appraisal issues through a

public exposure process and ultimately adopt guidance that may include more than one recognized method or technique that addresses the specific topic. The APB represents

the combined judgement of leading valuation professionals and utilizes Subject Matter Experts (SMEs) as their source for research and detail of all pertinent sources of existing

information on a given topic.

The Appraiser Qualifications Board is an independent board of The Appraisal Founda-

tion. The AQB establishes the qualifications for all appraisers and performs a number of

ancillary duties related to appraiser education, experience and examination requirements.

The Appraisal Standards Board develops, interprets and amends the Uniform Standards

of Professional Appraisal Practice (USPAP). It is composed of six appraisers who are appointed for a three-year term by the Board of Trustees of The Appraisal Foundation. The

ASB sets the minimum standards for appraisal process and reporting under (USPAP).

The Appraisal Foundation Advisory Committee (TAFAC) is made up of all interested

parties who have any interest in appraisal activity. The committee members include

associations that certify appraisers (about 150 of them), government bodies such as the IRS, Justice Department, Fannie Mae & Freddie Mac. The TAFAC committee makes

recommendations to the Foundation to address changes and current circumstances in

the appraisal universe.

The appraisal community breaks down into three major groups: real estate, personal

property and business valuation. The real estate community accounts for about 95% of all the appraisal activity. The personal property community — which includes fine arts, jewelry,

personal estate — and of course M & E together with business valuation accounts for the rest of the activity. As a consequence, the interests of the personal property community are

not always at the top of the agenda.

Because the Appraisal Foundation issues an updated version of USPAP every two years,

we as appraisers have a responsibility to ensure that we are working to the current

standards. The AMEA is very active in disseminating this information to our members.

Every appraiser makes a statement in their appraisals “This report is written in compliance

with USPAP.” It is the appraiser’s responsibility to be sure that this statement is accurate.

From The Board Room

Vis it Our Website a t www.AMEA.org

Spring 2012 7

Board of Directors President

Charles J. Winternitz, CEA

First Vice President James Zvonar, CEA

Second Vice President Jack Mendenhall, CEA

Treasurer

Brian Block, CEA

Directors

John Greene, CEA - Past President

Randy Stevens, CEA - Past President

Rick Levy, CEA - Past President

Robert Yeoman, CEA

John Josko, CEA

David Troutman, CEA

Richard Bass, CEA

Jean Harris, CEA

Curt Roskelley, CEA

Randy Koster, CEA

Don Bently, CEA

Voluntary Board Members

R. F. “Casey” Mulqueen, CEA, Past

President

Andrew Curran CEA

Ken Huritz, CEA

Mission

To certify and accredit the

most qualified capital equipment

appraisers in the appraisal industry

through promotion of standards of

professional practice, ethical conduct,

and market-based experience.


APPRAISER

Geographical AMEA Appraiser Directory

Spring 2012

Volume 1 Issue 23 8

ALASKA Michael Tope, CEA Anchorage, AK ALABAMA Christopher Baker, CEA Birmingham, AL Donald Bentley, CEA Helena, AL W. O'Neal, CEA Oxford, AL ARIZONA Michael Pitts, CEA Peoria, AZ Roger Anderson, CEA Surprise, AZ CALIFORNIA Robert Kroha, AEA Fremont, CA Randy Goodman, CEA Fullerton, CA Dan Wheeler, CEA Huntington Park, CA Jeff Lee, AM Los Angeles, CA Marc Rabbow, AEA Petaluma, CA Keith Rottman, CEA San Francisco, CA Donald Tyson, AM San Francisco, CA Steve Quale, CEA Sherman Oaks, CA George Spooner, CEA Valencia, CA Ryan Ashman, AEA Walnut Creek, CA Alan Gottlieb, CEA Woodland Hills, CA Gary Laubscher, CEA Woodland Hills, CA Beau Savage, CEA Woodland Hills, CA Sandor "Sandy" Soos, CEA Woodland Hills, CA Marc Swirsky, CEA Woodland Hills, CA Brian Testo, CEA Woodland Hills, CA COLORADO Alan Iannacito, CEA Littleton, CO Steven Beck, AEA Longmont, CO CONNECTICUT Marc Mazzalupo, CEA Branford, CT Michael Carelli, AEA Bridgeport, CT Mark Hariton, AM Bridgeport, CT Mark Katz, AEA Enfield, CT John Conroy, CEA North Branford, CT Stephen McMillan, AM North Branford, CT Robert MacDonald, CEA Stamford, CT R. F. Mulqueen, CEA Westport, CT FLORIDA Brian Marder, CEA Delray Beach, FL Larry Sage, CEA Orange Park,, FL Samuel Valenzisi, CEA Port Orange, FL Ted Robbins, CEA Sarasota, FL GEORGIA V. Brocking, CEA Alpharetta, GA Walter Dean, CEA Alpharetta, GA William Tait, CEA Alpharetta, GA James White, CEA Alpharetta, GA Loe Anders, CEA Woodstock, GA David Dalfonso, CEA Woodstock, GA ILLINOIS Gerald Blumberg, CEA Bannockburn, IL

Ryan Blumberg, CEA Bannockburn, IL Stephen Stabiner, CEA Barrington, IL Michael Cohen, AEA Bensenville, IL Larry Gworek, AEA Brookfield, IL Glenn Winternitz, CEA Buffalo Grove, IL Joseph Calvanico, CEA Chicago, IL Lawrence Christian, CEA Chicago, IL Stan Czupryna, CEA Chicago, IL Michael Larson, CEA Chicago, IL Kevin Miller, CEA Chicago, IL Howard Newman, CEA Chicago, IL Charles Winternitz, CEA Chicago, IL Jack Boecher, AEA Des Plaines, IL Michel Goldkind, AEA Des Plaines, IL Michael Olson, AEA Elk Grove, IL Ed Walsh, AEA Elk Grove, IL John Bopp, AEA Elk Grove Village, IL Joe Lundvick, AEA Elk Grove Village, IL David Pietig, AEA Elk Grove Village, IL Jeffrey Rezman, AM Elk Grove Village, IL Adam Stevenson, AEA Elk Grove Village, IL John Frain, AM Franklin Park, IL Richard Goldstein, AEA Highland Park, IL Richard Worthen, CEA Lake Bluff, IL Bob Hoffenberg, AM Lake Forest, IL Neal Hoffenberg, CEA Lake Forest, IL Anthony Blumberg, CEA Lincolnwood, IL Michael Ackerman, CEA Northbrook, IL William Barron, CEA Northbrook, IL Joel Bersh, AEA Northbrook, IL Derek Brennan, CEA Northbrook, IL Edward Cervac, CEA Northbrook, IL Andrew Dahlman, CEA Northbrook, IL Justin Doucette, CEA Northbrook, IL Allan Dubin, CEA Northbrook, IL William Dunn, CEA Northbrook, IL Lucas Evans, CEA Northbrook, IL Steven Feldman, CEA Northbrook, IL Paul Grzebien, CEA Northbrook, IL Joseph Herz, CEA Northbrook, IL Carey Madigan, CEA Northbrook, IL John Magnuson, CEA Northbrook, IL Brian O'Neill, CEA Northbrook, IL Rustin Ross, AEA Northbrook, IL Marco Sarti, CEA Northbrook, IL Adam Stump, CEA Northbrook, IL Peter Szafraniec, CEA Northbrook, IL Richard Tierney, CEA Northbrook, IL Glenn Gray, CEA Prospect Heights, IL Gary Belter, CEA Rockford, IL John Sorgel, CEA Riverwoods, IL

Richard Wiorek, CEA Riverwoods, IL Todd Wellens, CEA Rockford, IL John Josko, CEA Vernon Hills, IL INDIANA Robert Yeoman, CEA Elkhart, IN James Jordan, CEA Greenwood, IN Charles Miller, CEA Indianapolis, IN LOUISIANA Hugh 'Red' Freeze, CEA Metairie, LA MASSACHUSETTES William Davidson, CEA Andover, MA William Davidson, CEA Andover, MA Samuel Shapiro, AM Fall River, MA Robert Sinclair, CEA Fall River, MA Steven Finn, CEA Newton, MA Paul Finn, CEA Newton, MA Ross Finn, CEA Newton, MA Donald Green, AM Worcester, MA Nathan Smith, CEA Worcester, MA MARYLAND Edward Mazzetta, CEA Baltimore, MD Carl Miceli, CEA Baltimore, MD David Fox, AEA Owings Mills, MD Gilbert Schwartzman, AM Owings Mills, MD Stanley Smith, CEA Owings Mills, MD MICHIGAN Don Hindley, AEA Alto, MI Mark Albrecht, CEA Armada, MI John Gabalis, CEA Clawsoon, MI John Gabalis, CEA Clawsoon, MI April Johnson, CEA Detroit, MI Craig LeDuc, AEA Detroit, MI Chip Thornton, CEA Detroit, MI H. Lipton, AEA Farmington, MI Richard Brodie, CEA Farmington Hills, MI Daniel Brodie, CEA Farmington Hills, MI Adam Gutowski, CEA Farmington, MI Robert Levy, AM Farmington Hills, MI Richard Nucian, AM Farmington Hills, MI James Amann, CEA Fenton, MI George Howell, AM Ft. Gratiot,, MI William Levy, CEA Grand Rapids, MI William Melvin, CEA Grand Rapids, MI Michael Nyhof, CEA Hamilton, MI Craig Ward, CEA Jackson, MI Mark Krausman, AEA Livonia, MI Rene' Warren, CEA Livonia, MI David Reiman, AEA Roseville, MI Gregory Maurer, AM Royal Oak, MI Samuel West, CEA Shelby Township, MI James Brodie, CEA Southfied, MI

Al Loewenstein, CEA Southfield, MI Mario Mazzuca, CEA Southfield, MI Jeffrey Miller, CEA Southfield, MI Raymond Riberdy, CEA Southfield, MI Taso Sofikitis, AM Southfield, MI Kevin Welker, AM Southfield, MI James Dockeray, AEA Troy, MI Jack Washbourn, CEA White Lake, MI Randy Stevens, CEA Wixom, MI MINESOTA Theron Horn, CEA Albertville, MN Johnathan Francis, AEA Dodge Center, MN Brenda Daleki, AEA Elk River, MN Jack Mendenhall, CEA Elk River, MN John Roedel, CEA Elk River, MN Dan Strand, AM Hamel, MN John Van Heuveln, AEA Hopkins, MN Dennis Hoff, CEA Minneapolis, MN John Lawton, CEA Plymouth, MN MISSOURI Bud Moore, AEA St. Louis, MO Bruce Schneider, AEA St. Louis, MO Bradley Zimmerman, CEA St. Louis, MO NORTH CAROLINA David Hodgkins, AEA Charlotte, NC Lee Danhauer, CEA Winston Salem, NC NEW HAMPSHIRE Eric Winkler, AM Hudson, NH NEW JERSEY David Goodman, CEA Hainesport, NJ Richard Bass, CEA Jersey City, NJ NEW YORK John Greenberg, AEA Bronx, NY James Greenberg, AM Bronx, NY Andrea Wasserman, CEA Carle Place, NY Craig Cappalli, CEA Coram, NY William Corwin, CEA Coram, NY Russell Koster, CEA Farmingdale, NY \Randall Koster, CEA Farmingdale, NY Frank Sangiorgi, AM Farmingdale, NY Marshall Schulman, AEA Hauppauge, NY Matthew Mager, AM Jefferson Valley, NY Terry Lashin, AEA Melville, NY Paul Lashin, CEA Melville, NY Claire Reece, AM Melville, NY Joel Goldsmith, CEA New York, NY Ron Shuster, AEA Ronkonkoma, NY David Fiegel, CEA Williamsville, NY OHIO Nathan Arnold, CEA Beachwood, OH Thomas Wigglesworth, CEA Bedford, OH

Joseph Luggen, AEA Cincinnati, OH Jerome Luggen, AEA Cincinnati, OH Jeffrey Luggen, AEA Cincinnati, OH James Stern, CEA Cincinnati, OH Paul Trossman, AM Cincinnati, OH Charles Wood, CEA Cincinnati, OH Adam Covitt, CEA Cleveland, OH Frank Petitt, AEA Cleveland, OH Carl Petitt, CEA Cleveland, OH David Winger, CEA Cleveland, OH Gary Goldsmith, CEA Columbus, OH Gregory Swary, CEA Columbus, OH Robert Gibson, AEA Dayton, OH Butch Selvage, CEA Grove City, OH David Troutman, CEA Marion, OH Ken Regal, CEA Ravenna, OH Clifford Henshaw, CEA Solon, OH John Greene, CEA Solon, OH Kenneth Miller, CEA Solon, OH Sharon Parker, CEA Solon, OH Kevin Klicman, Willoughby, OH Bryan Harvey, CEA Xenia, OH Stephen Thompson, AM Xenia, OH OKLAHOMA Henry Choate, CEA Marietta, OK OREGON Daniel Pahl, CEA Portland, OR PENNSYLVANIA Kimberly Khoury, CEA Bethlehem, PA Sidney Banks, AM Elkins Park, PA Thomas Noone, CEA Grove City, PA Brendan Noone, AEA Grove City, PA Harry Glaeser, AEA Ivyland, PA Robert Breakstone, CEA Lake City, PA Eric Merback, CEA Philadelphia, PA Brandt Wolf, CEA Philadelphia, PA W. Hildebrand, AM York, PA RHODE ISLAND David Gold, CEA Pawtucket, RI Joseph D'Alton, AEA Providence, RI TENNESSEE Richard Levy, CEA Nashville, TN TEXAS Gerald Hampton, CEA Allen, TX Jack Beckwith, CEA Boerne, TX Allen Bealmear, CEA Colleyville, TX Duke Coon, CEA Conroe, TX Gary Penn, CEA Dallas, TX Michael Rosen, AEA Dallas, TX Gregg Trenor, AM Ft. Worth, TX Ron Braman, CEA Houston, TX

Michael Feinstein, CEA Houston, TX Marvin Gasaway, AEA Houston, TX Jean Harris, CEA Houston, TX Jean Harris, CEA Houston, TX William Cook, CEA Meridan, TX Karen Milan, CEA Rockwall, TX Leslie Miles, CEA Rockwall, TX UTAH Curt Roskelley, CEA Salt Lake City, UT WISCONSIN Scott Buth, CEA Dousman, WI James Zvonar, CEA New Berlin, WI Joseph Kraemer, CEA Waukesha, WI Bruce Redenz, AEA Waunakee, WI AUSTRALIA Matthew Richards, CEA Hexham, NSW Australia Patrick Slattery, CEA Hexham, NSW Australia James Slattery, CEA Moorabbin Airport, VIC, AU CANADA Brian Batcher, CEA Toronto, Ontario, Canada Kenneth Hurwitz, CEA ON Canada Steve Bignell, CEA Brampton, ON Canada David Slimowitz, CEA Concord, ON Canada Peter Tordy, Concord, ON Canada Chris Walker, CEA Hornby, ON Canada Bernhard Voelker, CEA Keswick, ON Canada Barry Guild, AEA Kitchener, ON Canada Nick Howard, CEA Mississauga, ON Canada Nelson Martins, CEA Mississauga, ON Canada Holger Butcher, CEA Toronto, ON , Canada Jason Hayne, CEA Toronto, ON Canada Terrance Jacobs, CEA Toronto, ON Canada Peter Keeley, CEA Toronto, ON Canada John Michelini, CEA Toronto, ON Canada Raymond Brown, CEA Vaughan, ON Canada John Jones, CEA Windsor, ON Canada Gilles Moss, CEA Oakville, ONT Canada Brian Block, CEA Thornhill, ONT Canada Andrew Curran, CEA Toronto, ONT Canada JAPAN Yoshinobu Sato, AEA Nagoya - shi, Aichi-ken Japan UNITED KINGDOM Bernard Ord, AM Middlesbrough, Cleveland, UK

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