Editor’s Note: Embry-Riddle Aeronautical University (ERAU) has signed an agreement with the American Society of Appraisers (ASA) to be the sole provider for three years of required coursework for professional aircraft appraisers to apply for worldwide accreditation. As part of the agreement, Embry-Riddle will develop and update four courses in coordination with ASA materials, composed of 30 hours. Starting off the course series is the Introduction to Machinery and Equipment Valuation (Aviation Specific) to be held on Thursday, October 27-Sunday, October 30, 2016 at Embry-Riddle Aeronautical University Campus in Daytona Beach, FL. ASA sat down with Dr. Michael Williams, Dr. Sunder Raghavan, ASA, Dr. Vitaly Guzhva, ASA, David Crick, ASA, and Richard Berkemeier, ASA to get the inside scoop.
Entrance of Embry-Riddle
What are your thoughts on the ASA/Embry-Riddle education program being held on the campus of Embry-Riddle?
Dr. Michael Williams: Aerospace is a very complex industry that requires both the practical and theoretical aspects. Fortunately for us our faculty, through the training of ASA, are able to bring these two criteria together to help our academic efforts. Partnering with ASA, who hold outstanding instructors assisting us, is the perfect thing to do.
What does Embry-Riddle bring to the table in terms of appraisal education?
Dr. Sunder Raghavan, ASA: Embry-Riddle is ranked number one in aviation aerospace. The idea of having this course in an educational institution, which has access to flight lines, helps students gain practical experience. Students will be able to explore the aircraft, examine them, and gain a sense on how to appraise it. Embry-Riddle has a great flight department that organizes tours for students when they first enter into the program. This gives their education value by not only giving them a physical idea on how to approach an appraisal but also a practical sense on what the aircraft are.
What can students expect when taking this Embry-Riddle course (Introduction to Machinery and Equipment Valuation- Aviation Specific) and what can students expect for future Embry-Riddle courses?
Dr. Vitaly Guzhva, ASA: This is an introductory course that shows you the basics of aircraft appraisals. Our expectations are to give students a combined academic and practical approach in each of our courses. Student will be able to look forward to a variety of guest speakers related to aircraft appraisals as well as field trips on and off campus.
Are the ASA/Embry-Riddle classes respected globally?
David Crick, ASA: A number of students have been involved with Embry-Riddle prior to this program. The cross section of international students is mandatory for this industry because there is a significant portion of aviation assets that are located around the world. It is important to have international appraisers that are outside of the United States that understand the methodology and the process of appraising aircraft. By having both ASA’s and Embry-Riddle’s methodologies, it allows appraisers to expand on different areas rather than being limited to what they know.
Inside of Embry-Riddle Aircraft
As ASA’s Machinery and Technical Specialties education chair, instructor, and course developer how is the program going?
Richard Berkemeier, ASA: ASA has taught these courses with Embry-Riddle from around the globe including Europe, Australia and the United States. The program is recognized as the gold standard for aircraft appraisal education that hold the best and the brightest. Students include banks, leasing companies, insurance companies, appraisal firms, and Embry-Riddle students. Not only is this a world class appraisal education with a global student body, it sets the gold standard for Appraisal Education. Great instructors, speakers, facility, tours are all on the Daytona Beach Embry Riddle Campus.
More exciting and informative sessions are offered at Embry-Riddle throughout the year. Jeffrey Dunn will give you an up close and intimate view of the industry from a banking perspective with the Ups and Downs of Business Aviation. Paul Cardarelli will speak on the state of the aviation market as observed by JETNET iQ.
The American Society of Appraisers would like to thank all those who have contributed to these growing programs and to the advanced of aviation education.
Dr. Michael Williams, Dean of College of Business
Dr. Michael Williams is Dean of the College of Business and Professor of Information Systems at Embry-Riddle. He has a PhD in Computer Technology and is a certificated Airframe and Powerplant (A&P) technician. His academic areas of expertise include information systems, radio frequency identification (RFID), electronic commerce, intermodal transportation and aviation maintenance management.
Dr. Sunder Raghavan, Master’s Program Coordinator Aviation Finance
Dr. Sunder Raghavan, ASA started his career by receiving his PhD at Washington State University in Finance and Economics. He later joined Embry-Riddle 15 years ago focusing his research on airline mergers & acquisitions and aircraft leasing. He is currently a Seno Professor of Finance and Master of Science in Aviation Finance (MSAF program coordinator. In collaboration with the International Society of Transport Aircraft Trading (ISTAT), whose members are involved in operating, manufacturing, maintaining, selling, purchasing, financing, leasing, appraising, insuring or other activities related to the commercial aviation sector, he has been expanding the aviation finance and leasing programs.
Dr. Vitaly Guzhva,
Professor of Finance
Dr. Vitaly Guzhva, ASA is a Professor of Finance at Embry-Riddle Aeronautical University. As a corporate pilot, researcher, and educator Dr. Guzhva has over 20 years of experience in aviation, including providing opinions of value for aircraft and components of aviation infrastructure.
David Crick, ASA, Machinery & Technical Specialties Appraiser
David Crick, ASA has over 20 years of specialized valuation experience in many different sectors with considerable knowledge of corporate valuation requirements for mortgage security assessments, litigation support & liquidation disposals, which he regularly uses for fixed-wing and rotary-wing aircraft valuations in many different international jurisdictions.
Richard Berkemeier, ASA, Machinery & Technical Specialties
Richard Berkemeier, ASA is a senior asset management professional offering more than 20 years of appraisal experience within the capital markets, including risk management, inventory assessment, appraisal review, liquidation expertise, debtor-in-possession financing, and collateral management.
Vice President, Asset Management – Corporate Aircraft at Citizen Asset Finance
Jeffrey Dunn has over 16 years of experience in the aviation industry and currently serves as Vice President of Asset Management/Aircraft for Citizens Asset Finance. Jeff began his aviation career in the United States Air Force (1999-2008) where he worked as a jet engine depot-level mechanic on Pratt and Whitney TF33-P-5/P-7 engines (RC-135 aircraft) and General Electric F110-GE-100 engines (F-16 aircraft). After being honorably discharged in 2008, Jeff gained his Airframe and Powerplant rating from the Federal Aviation Administration and worked as an aircraft mechanic at J.A. Air Center for 2 years (2008-2010).
Paul Cardarelli, Vice President of Sales at JETNET
Paul Cardarelli is part of the very foundation that built and supports JETNET. He has been with the company from its inception in 1988 when he began his career working in the Research Department. There he gained his knowledge of the business aircraft sales trade and the market in which occurs. In 1994 he was promoted to Sales Director, and today manages a staff of thirteen with responsibility for all JETNET subscription sales worldwide.
For more information about the ASA/Embry-Riddle aircraft appraisal education program, visit ASA online, call (800) 272-8258 or e-mail firstname.lastname@example.org.