Some business appraisers in "Something of Value" (Management, January) fell just short of calling non-ASA members "charlatans." Not only are we insulted and in disagreement with these statements, but we also question whether experience in business valuation contributes more to performance than other attributes. Manufacturing and marketing, two major factors affecting the going-concern value of almost any business, are both changing very rapidly. Valuation criteria that could have been applicable 10 or even 5 years ago may not be today.

Contrary to widespread belief, it is our opinion that the appraisers' ability to collect, process, and analyze current information may very well offset decades of experience in business valuation.