Brewer Quality Homes, Inc. - Page 62

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               21(...continued)                                                       
                    [Q. by Calkins, on direct]  Now, Dr. Hakala, we’re                
               going to Exhibit 57-P, which is Ms. Ding’s rebuttal to your            
               report.                                                                
                    A  Okay                                                           
                    Q  Ms. Ding assigns a number of errors in her report,             
               and we’ll briefly go through each of these errors.                     
                    At page 2, error number one, she addresses the use                
               of the Penell [Panel/Aspen] Publishing Survey, criticizing             
               the data and the size of the company.                                  
                    Could you comment on that?                                        
                    A  There’s some validity to the limitations on the use            
               of the Penell, since I used fabricated metal wood products             
               and business services.                                                 
                    I did pick the right types of industries, but the                 
               survey is too broad to probably be as applicable as I would            
               like.                                                                  
                    It’s informative, but it’s certainly not                          
               determinative of my ultimate opinion in the case.                      
                    Q  So, when she says this data is not valid--                     
                    A  It’s valid.  It’s used all the time in the real                
               world to sort of condition what you’d make in a small,                 
               closely-held company, but the issue is that you have to sort           
               of condition the data for what industry and sector you’re              
               in, and that element of her criticism I think has some                 
               validity, a lot of validity.                                           
                           *    *    *    *    *    *    *                            
                    Q [By Mayo, on cross]  Okay.  The first thing you did             
               was you went to a survey called Pennell [Panel] Aspen                  
               Publishing Survey.                                                     
                    A  Yes.                                                           
                    Q  And that was a survey of compensation of CEO’s.                
                                                             (continued...)           





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