RE: BNN effect Coorsman you appear confused about appraisal methodology. Cost does not equal market value. I think DAI has the qualifications to do a proper appraisal of the assets. Here are the credentials of the Managing Principal of DAI who directed the appraisals.
Steve R. Dean, ASA, P.E.
Managing Principal
Education B.S. Mechanical Engineering
U.S. Naval Academy
M.B.A. Business Administration
University of Pittsburgh
Nuclear Engineering, Naval Training Program
Entrepreneurial Management Program, Carnegie Mellon University
Affiliations Accredited Senior Appraiser, American Society of Appraisers
Professional Engineer in Pennsylvania, Michigan, and Hawaii
American Society of Mechanical Engineers
Equipment Leasing Association
Professional History
Steve R. Dean, DAI’s Managing Principal, founded the company in 1987 to provide financial, engineering,
and management consulting services to the financial services, power, and energy industries. Mr. Dean has 25
years of business, finance, and management experience. Mr. Dean’s projects have involved the use of Monte
Carlo simulation models to forecast energy prices, the valuation of industrial assets, and estimation of
acquisition prices. He has advised institutional investors regarding investments in domestic and international
power plants, energy facilities, transmission systems, and recycling projects.
In his present capacity as Managing Principal, he has managed the turnaround of several distressed assets,
renegotiated power and fuel contracts, and implemented process efficiency improvements. Mr. Dean has
provided consulting services for owners/developers, lenders, and investors in over 30 industrial projects.
Over the past two decades, Mr. Dean has worked with Carnegie Mellon University to apply Monte Carlo
simulation techniques to the evaluation of financial risk and project uncertainty. This work has been used
successfully by investors to make quantitative business decisions regarding the restructuring of assets and the
purchase and/or sale of bonds, equity investments, and company stock.
Prior to founding DAI, Mr. Dean served as Vice President of Energy Support Services, a consulting firm. In
this capacity, he was responsible for marketing and sales of the firm’s services to the energy, steel, power, and
waste recycling industries. The firm expanded quickly and was named “Entrepreneur of the Year” by Venture
Magazine in 1987.
Previously, at Westinghouse Electric Corporation, Mr. Dean was responsible for development of
cogeneration and waste-to-energy plants. His business development responsibilities included negotiation of
power sale agreements, plant siting, permitting, and negotiation of EPC contracts. Also while at
Westinghouse, he managed the budgets for domestic and international commercial nuclear power plants
under construction.
Prior to joining Westinghouse, Mr. Dean worked as a Nuclear Engineer for the U.S. Nuclear Regulatory
Commission. At the NRC he reviewed commercial nuclear plant designs, evaluated performance tests, and
reviewed design modifications to determine compliance with regulatory codes and standards. During this
time, Mr. Dean attended and successfully completed the NRC’s Reactor Engineering School in Washington,
DC.