Adam Bakula has a concentration in machinery and equipment appraisal. He has provided valuation services for purchase price allocation, goodwill and long-lived asset impairment testing, financing, insurance placement, litigation, and tax purposes.

Adam has experience in a wide range of industries, including energy (refining and upgrading, gas processing, pipeline transmission, terminal storage, power generation), manufacturing (heavy industrial, automotive, consumer products, food, electronics, metalworking, chemicals), mining, hospitality, and retail. He has provided valuation consulting services within the United States, as well as various countries in Europe, Asia, Central America, South America, and the Middle East.

In addition to Adam's valuation expertise, he has experience conducting tagging, verification, and reconciliation services for large industrial facilities throughout the United States.

Prior to joining Stout, Adam was a Review Specialist at M&T Bank.

James Bohnaker is a Senior Economist within Cushman & Wakefield's global think tank. James provides thought leadership, economic outlook presentations, and forecasting support to the firm's leadership for a variety of property types and stakeholders.

James has an extensive background as a global macroeconomist and has provided strategic consulting for many of the world's largest investment banks and corporations while in previous roles at Moody's Analytics and S&P Global. James also previously worked at CBRE where he was a leading member of the firm's economic and real estate forecasting platform.

James' expertise has been featured in leading news publications including the Wall Street Journal, New York Times, Washington Post, and NPR's Marketplace. He has a Masters degree in Economics from Old Dominion University and a Bachelors in Mathematical Economics from Hampden-Sydney College. James is a Certified Business Economist (CBE) and member of the National Association of Business Economists (NABE). 

David Lennhoff is a principal with Lennhoff Real Estate Consulting, LLC, which is officed in Gaithersburg, Maryland. His practice centers on litigation valuation and expert testimony relating to appraisal methodology, USPAP, and allocating assets of a going concern. He has taught nationally and internationally for the Appraisal Institute. International presentations have been in Tokyo, Japan; Beijing and Shanghai, China; Berlin, Germany; Seoul, South Korea; and Mexico City, Mexico. He has been a development team member for numerous Appraisal Institute courses and seminars and was editor of its Capitalization Theory and Techniques Study Guide, 3rd ed. He was the lead developer for the Institute's asset allocation course, Fundamentals of Separating Real and Personal Property from Intangible Business Assets, and edited the two accompanying business enterprise value anthologies. He also authored the Small Hotel/Motel Valuation seminar.

Fred Nicely is Senior Tax Counsel for the Council On State Taxation. Fred's role as Senior Tax Counsel at COST extends to all aspects of the COST mission statement: "to preserve and promote equitable and nondiscriminatory state and local taxation of multijurisdictional business entities." Before joining COST, Fred served in the Ohio Department of Taxation for four years as Deputy Tax Commissioner over Legal and for the prior seven years as the Department's Chief Counsel. Fred's responsibilities at the Department included testifying before legislative committees, participating as an alternative delegate for Ohio at Streamlined Sales Tax Project meetings, and reviewing legal documents issued by the Department, including deciding the merits of filing an appeal. He is a frequent speaker and author on Ohio's tax system and on multistate tax issues generally. Fred also has extensive experience in public utility tax law, having served as an administrator of the Department's public utility tax division. Fred's undergraduate degree in psychology (with a concentration in accounting) is from the Ohio State University. He obtained his MBA and JD from Capital University in Columbus, Ohio.

Bart Wilhoit is an experienced trial attorney with years of practice successfully representing businesses in civil and commercial disputes, state and local tax controversies, eminent domain litigation, tort and commercial litigation and administrative matters. Bart has successfully represented clients in all Arizona state courts including the Superior Courts, Arizona Tax Court and appellate courts.

Bart is licensed to practice in Arizona and Nevada. He is experienced in all phases of litigation, including investigation and evaluation of cases, complex discovery, settlement and alternative dispute resolution, jury and bench trials, arbitrations and appeals. Bart has broad litigation and trial experience in complex commercial litigation matters with an emphasis on valuation related litigation in commercial disputes, contract disputes, state and local tax controversies and all stages of the eminent domain/condemnation process.

Bart takes a pragmatic approach to his clients' matters – considering and evaluating options and potential outcomes from the onset to effectively and efficiently counsel his clients. He is dedicated to providing quality personal and client service, efficient and aggressive representation and dedicated to strong client relationships.

Bart is a graduate of Arizona State University and the UCLA School of Law. A native of Arizona, Bart is married with three children and enjoys all of the outdoor experiences Arizona has to offer. He also enjoys travel and playing music in his band.

Lee Winston is a partner at Gray Winston Hart and practices in the area of property tax consulting, property tax litigation, mediation and arbitration. Prior to joining GWH, Lee practiced commercial and real property litigation in Dallas, Texas.