- 35 - also reject the opinion of an expert witness in its entirety. Palmer v. Commissioner, 523 F.2d 1308, 1310 (8th Cir. 1975), affg. 62 T.C. 684 (1974); Parker v. Commissioner, supra at 562- 565. Respondent relies on the opinions of E. James Brennan III (Mr. Brennan), the president of a personnel and pay practice consulting firm. Using statistical analyses that compared the ratios of CEO compensation to total sales based on survey data collected by the Wyatt Executive Compensation Service (ECS), Mr. Brennan concluded that the following is the highest maximum compensation to which Mr. Ruf was entitled for each of the years indicated: Year Ended Maximum Compensation Feb. 28, 1989 $389,760 Feb. 28, 1990 368,190 Feb. 28, 1991 914,490 We are unwilling to rely on Mr. Brennan's analyses or his opinions. One of the principal problems we have with his anal- yses is that we are not persuaded that the ECS survey data on which they were based are data obtained from companies that are comparable to petitioner. For example, Mr. Brennan used data he obtained from the broad category of retail trade, rather than a narrower category of retail home centers. In fact, there is no evidence that a single home center was included in the survey data on which Mr. Brennan relied. Moreover, although petitionerPage: Previous 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 Next
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