In the course of working with both buyers and sellers on realignment of valuation expectations, I have noted that some buyers tend to use distressed sale values as deal benchmarks for negotiations, and do not give enough recognition and credit to those companies that continue to grow, and create quality profit margins in tough times.  While most sellers are willing to accept the fact they will not get deal multiples of a year ago, it is not clear to me whether or not all buyers fully understand the level of effort, time, and money it will take to turn around a struggling business, and that it would be more cost effective to acquire a positive, going concern at a modest premium over the distressed business.