Senior Professional Staff
• Michael J. Ileo, PhD - Chairman/Chief Economist - E-Mail
• David C. Parcell, MA, MBA, CRRA - President/Senior Economist - E-Mail
• Kenneth C. Strobl, MS, PE - Executive Vice President/Senior Engineer - E-Mail
• Glenn A. Watkins, MBA, CRRA - Vice President/Senior Economist - E-Mail
• J. Stephen Lord Jr., Economic and Financial Analyst - E-Mail

Dr. Ileo is a co-founder of TAI and has practiced as a consultant to industry and government for over 30 years. This includes serving as an economic advisor to various federal regulatory agencies in several Administrations. He has appeared as an expert witness in over 500 proceedings on a wide-variety of business, economic, and statistical matters before numerous courts and administrative agencies throughout the U.S. and Canada. Dr. Ileo recently headed a research team that assisted more than 50 Honda dealerships with determining how new vehicle supply shortages caused by a national bribery scheme impacted profitability.

Dr. Ileo holds a doctorate in economics from Virginia Tech and has taught at several colleges and universities. He has served as a book reviewer for the Journal of Risk and Insurance, as well as published in the William and Mary Law Review. His Ph.D. thesis involved an econometric model of insurer pricing behavior under different degrees of investment portfolio and insurance exposure risks.

Mr. Parcell is a nationally recognized authority on capital costs, rates of return and other matters pertinent to the determination of adequate and inadequate levels of investment and business profitability. Since forming TAI with Dr. Ileo in 1969, he has directed most of the firm's work with respect to mergers and acquisitions project financial feasibility, and economic impact assessments. Mr. Parcell has been qualified as an expert witness regarding these and associated topics on more than 400 occasions in over 30 states and several Canadian provinces.

Mr. Parcell is a member of the Society of Utility and Regulatory Financial Analysts (SURFA) and presently serves as its President. The Cost of Capital - A Practitioner's Guide authored by Mr. Parcell is the study reference recommended to applicants seeking to qualify for the designation of Certified Rate of Return Analyst (CRRA) awarded by SURFA.

Mr. Strobl has supervised much of TAI's work on engagements requiring sophisticated technical analyses, such as with respect to the causes and resulting electrical output damages of a coal-pulverizer failure, the computerized routing of a high-voltage transmission line simultaneously minimizing economic and environmental costs, the feasibility of a short-haul railroad, and the sets of unbundled local network elements necessary to provide alternative telecommunication services.

Mr. Strobl has appeared as an expert witness regarding these matters before a number of courts and administrative bodies, as well as with respect to a variety of line of business cost separation and allocation issues. He is a former President of the Richmond Society of Professional Engineers and holds an M.S. in Engineering Mechanics from Virginia Tech.

Mr. Watkins is a former load forecaster for one of the nation's largest electrical co-operatives. In addition to continuing with demand, energy, and other types of utility service forecasting, Mr. Watkins directs many of TAI'S engagements that necessitate econometric and/or statistical applications. He has appeared on behalf of clients as an expert witness regarding these matters, as well as with respect to costing and pricing methodologies requiring intricate computerization techniques.

Mr. Watkins also has been accepted by several courts during his professional career as an expert in the determination of economic damages, and by regulatory agencies in numerous states regarding utility cost allocation and rate design issues. He holds a MBA from Virginia Commonwealth University and is a Certified Rate of Return Analyst (CRRA).

Mr. Lord is a consultant and research analyst with experience providing detailed and complex analyses in support of litigation and regulatory matters. Additional to providing expert witness testimony, Mr. Lord's experience includes analyses of product and geographic markets; direction and management of long term staffing engagements in the securities industry; analyses of automobile dealer and manufacturer processes; and creation of cost-of-capital, return on investment and depreciation studies.

Mr. Lord is additionally responsible for the models that form the bases of most of the analyses and projects presented by TAI. Examples of some of these analyses include total element and service incremental cost models, utility and business venture analyses, regression analyses, automotive and medical market product models, depreciation studies and more. He received his B.S. from Virginia Commonwealth University in 1991.