Walter L. Gross, Jr., and Barbara H. Gross - Page 18




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               training, or education, may testify thereto in the form                 
               of an opinion or otherwise.                                             
          Pursuant to Fed. R. of Evid. 702, the Court must assure that                 
          scientific evidence is not only relevant, but also reliable.                 
          Daubert v. Merrell Dow Pharm., Inc., supra at 589.  Daubert,                 
          however, is not limited to evidence that is scientific only in               
          the laboratory sense.  Recently, in Kumho Tire Co. v. Carmichael,            
          526 U.S. ___, ___, 119 S. Ct. 1167, 1171 (1999), the Supreme                 
          Court made clear:  “Daubert’s general holding--setting forth the             
          trial judge’s general ‘gatekeeping’ obligation--applies not only             
          to testimony based on ‘scientific’ knowledge, but also to                    
          testimony based on ‘technical’ and ‘other specialized’                       
          knowledge.”  Dr. Bajaj's testimony (as well as Mr. McCoy's) was              
          of a technical nature.  Therefore, Daubert is applicable here,               
          and we have a gatekeeping role to perform.                                   
               As we have said, value is a question of fact.  See supra                
          sec. II.  Dr. Bajaj has an opinion as to that fact, arrived by               
          applying certain tools of financial analysis, primarily a                    
          discounted cash-flow analysis, which is a method of analysis also            
          employed by Mr. McCoy.  Petitioners do not claim that a                      
          discounted cash-flow analysis is an unreliable tool for                      
          determining the present value of one or more future cash-flows               
          (e.g., the distributions of cash Dr. Bajaj assumed G&J would                 
          continue indefinitely).  We have for many years relied on a                  






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