Welcome to our annual EO/ESOP Podcast Summer School series. We selected some of our favorite episodes over the past year for your enjoyment while we spend the rest of our summer catching our breath and working on launching our exciting Season 7, beginning in September 2023.In this Mini-cast, Bret Keisling addresses ESOP myths that came up in an episode with business owner/consultant Craig Leary [https://craiglearyconsultinggroup.com/], including whether transactions are more complicated than non-EO M&amp;A transactions and whether ESOPs are less profitable than non-ESOP deals.  Bret also addresses the source of many damaging myths: ESOP professionals who did a great job of scaring away potential sellers.The show notes and full transcript for this episode are available on our website https://www.theesoppodcast.com/post/esop-summer-school-mini-cast-22-esop-myths-addressed

Welcome to our annual EO/ESOP Podcast Summer School series. We selected some of our favorite episodes over the past year for your enjoyment while we spend the rest of our summer catching our breath and working on launching our exciting Season 7, beginning in September 2023. In this Mini-cast, Bret Keisling addresses ESOP myths that came up in an episode with business owner/consultant Craig Leary [<a href="https://craiglearyconsultinggroup.com/" rel="nofollow" target="_blank">https://craiglearyconsultinggroup.com/</a>], including whether transactions are more complicated than non-EO M&amp;A transactions and whether ESOPs are less profitable than non-ESOP deals. Bret also addresses the source of many damaging myths: ESOP professionals who did a great job of scaring away potential sellers. The show notes and full transcript for this episode are available on our website <a href="https://www.theesoppodcast.com/post/esop-summer-school-mini-cast-22-esop-myths-addressed" rel="nofollow" target="_blank">https://www.theesoppodcast.com/post/esop-summer-school-mini-cast-22-esop-myths-addressed</a>

ESOP Summer School Mini-cast 22: ESOP Myths Addressed

Corey Rosen

Welcome to our annual EO/ESOP Podcast Summer School series. We selected some of our favorite episodes over the past year for your enjoyment while we spend the rest of our summer catching our breath and working on launching our exciting Season 7, beginning in September 2023.First up, Bret Keisling is joined by Corey Rosen, founder of The National Center for Employee Ownership (www.nceo.org) and coauthor (with John Case) of "Ownership: Reinventing Companies, Capitalism, and Who Owns What. " Corey discusses his new book, federal/state EO legislation, collaborations, and why this may be employee ownership's moment.Further show notes are available on our website at www.EsOpPodcast.com

Welcome to our annual EO/ESOP Podcast Summer School series. We selected some of our favorite episodes over the past year for your enjoyment while we spend the rest of our summer catching our breath and working on launching our exciting Season 7, beginning in September 2023. First up, Bret Keisling is joined by Corey Rosen, founder of The National Center for Employee Ownership (<a href="http://www.nceo.org" rel="nofollow" target="_blank">www.nceo.org</a>) and coauthor (with John Case) of "Ownership: Reinventing Companies, Capitalism, and Who Owns What. " Corey discusses his new book, federal/state EO legislation, collaborations, and why this may be employee ownership's moment. Further show notes are available on our website at <a href="http://www.EsOpPodcast.com" rel="nofollow" target="_blank">www.EsOpPodcast.com</a>

ESOP Summer School 21: Corey Rosen, The NCEO Founder and Coauthor of "Ownership"

Jack Moriarty

Bret Keisling is joined by Jack Moriarty, founder and CEO of Ownership America [ownershipamerica.org/], for a deep look at the recently proposed Employee Equity Investment Act. This bi-partisan, bi-cameral legislation is the product of years of coordination between Ownership America, The ESOP Association, their staffs, and employee ownership supporters.The bill provides for many EO enhancements including creating opportunities for investment funds to include EO in their portfolios, creating more liquidity at closing for selling shareholders, streamlining rules for SBA 7(A) loans, and utilizing Small Business Investment Companies (SBICs) to help in create new ESOPs and worker co-ops.The video of this episode and further show notes are available on our website at https://www.theesoppodcast.com/post/252-jack-moriarty-of-ownership-america-part-2

Bret Keisling is joined by Jack Moriarty, founder and CEO of Ownership America [<a href="http://ownershipamerica.org/" rel="nofollow" target="_blank">ownershipamerica.org/</a>], for a deep look at the recently proposed Employee Equity Investment Act. This bi-partisan, bi-cameral legislation is the product of years of coordination between Ownership America, The ESOP Association, their staffs, and employee ownership supporters. The bill provides for many EO enhancements including creating opportunities for investment funds to include EO in their portfolios, creating more liquidity at closing for selling shareholders, streamlining rules for SBA 7(A) loans, and utilizing Small Business Investment Companies (SBICs) to help in create new ESOPs and worker co-ops. The video of this episode and further show notes are available on our website at <a href="https://www.theesoppodcast.com/post/252-jack-moriarty-of-ownership-america-part-2" rel="nofollow" target="_blank">https://www.theesoppodcast.com/post/252-jack-moriarty-of-ownership-america-part-2</a>

Episode 252: Jack Moriarty of Ownership America, Part 2

Bret Keisling shares an excerpt from next week’s EsOp Podcast with Jack Moriarty of Ownership America [https://ownershipamerica.org/], who discusses the thinking and analysis that led to the recent introduction of the Employee Equity Investment Act (EEIA). If enacted, the EEIA will empower the Small Business Administration (SBA) to license Small Business Investment Companies (SBIC’s) to make equity investments in ESOPS and worker co-ops, sharply reducing cost of — and access to — capital.Links to more information as well as the full transcript and video of this episode are available on our website at https://www.theesoppodcast.com/post/mini-cast-236-sneak-peak-jack-moriarty-and-the-eeia

Bret Keisling shares an excerpt from next week’s EsOp Podcast with Jack Moriarty of Ownership America [<a href="https://ownershipamerica.org/" rel="nofollow" target="_blank">https://ownershipamerica.org/</a>], who discusses the thinking and analysis that led to the recent introduction of the Employee Equity Investment Act (EEIA). If enacted, the EEIA will empower the Small Business Administration (SBA) to license Small Business Investment Companies (SBIC’s) to make equity investments in ESOPS and worker co-ops, sharply reducing cost of — and access to — capital. Links to more information as well as the full transcript and video of this episode are available on our website at <a href="https://www.theesoppodcast.com/post/mini-cast-236-sneak-peak-jack-moriarty-and-the-eeia" rel="nofollow" target="_blank">https://www.theesoppodcast.com/post/mini-cast-236-sneak-peak-jack-moriarty-and-the-eeia</a>

Mini-cast 236: Sneak Peak - Jack Moriarty and the EEIA

Bret Keisling is joined by Jack Moriarty, founder and CEO of Ownership America [https://ownershipamerica.org/], for a great discussion about employee ownership trends including the recently held Employee Ownership Ideas Forum, which brought together elected leaders, EO activists, and employee owners for two days of robust discussion. Then Jack shares an overview of Washington state's new employee ownership law which is perhaps the most ambitious statewide EO law in the United States.The video of this episode and further show notes are available on our website at https://www.theesoppodcast.com/post/251-jack-moriarty-of-ownership-america-part-1

Bret Keisling is joined by Jack Moriarty, founder and CEO of Ownership America [<a href="https://ownershipamerica.org/" rel="nofollow" target="_blank">https://ownershipamerica.org/</a>], for a great discussion about employee ownership trends including the recently held Employee Ownership Ideas Forum, which brought together elected leaders, EO activists, and employee owners for two days of robust discussion. Then Jack shares an overview of Washington state's new employee ownership law which is perhaps the most ambitious statewide EO law in the United States. The video of this episode and further show notes are available on our website at <a href="https://www.theesoppodcast.com/post/251-jack-moriarty-of-ownership-america-part-1" rel="nofollow" target="_blank">https://www.theesoppodcast.com/post/251-jack-moriarty-of-ownership-america-part-1</a>

Episode 251: Jack Moriarty of Ownership America, Part 1

Bret Keisling shares a clip from Episode 45 of the "Owner to Owner" podcast. Host Jesse Tyler spoke with three owners at 100% ESOP DVL Group [https://www.dvlnet.com/]. Here, marketing manager Jodi Holland explains what DVL Group does right to promote ownership culture and communications, including DVL's "Annual Statement Day," quarterly and annual owner and safety awards, and a quarterly newsletter that is mailed to owners' homes to encourage better family awareness of employee ownership. She also discusses the importance of regularly updating ESOP brochures, graphs, etc, to keep learning interesting and more effective.Episode 45 was the Season 2 finale of the "Owner to Owner" podcast. You can find all of Jesse's past episodes at www.ownertoownerpodcast.com. In each episode, guests share personal insights on what ownership means to them; how they describe ownership when talking to family, friends, and strangers; the three words they use to describe ownership; their EO A-ha moments; and why anyone seeking work should consider a career at their employee-owned company.Further show notes and the full transcript of this episode are available on our website at https://www.theesoppodcast.com/post/mini-cast-235-eo-culture-communication-what-dvl-group-does-right

Bret Keisling shares a clip from Episode 45 of the "Owner to Owner" podcast. Host Jesse Tyler spoke with three owners at 100% ESOP DVL Group [<a href="https://www.dvlnet.com/" rel="nofollow" target="_blank">https://www.dvlnet.com/</a>]. Here, marketing manager Jodi Holland explains what DVL Group does right to promote ownership culture and communications, including DVL's "Annual Statement Day," quarterly and annual owner and safety awards, and a quarterly newsletter that is mailed to owners' homes to encourage better family awareness of employee ownership. She also discusses the importance of regularly updating ESOP brochures, graphs, etc, to keep learning interesting and more effective. Episode 45 was the Season 2 finale of the "Owner to Owner" podcast. You can find all of Jesse's past episodes at <a href="http://www.ownertoownerpodcast.com" rel="nofollow" target="_blank">www.ownertoownerpodcast.com</a>. In each episode, guests share personal insights on what ownership means to them; how they describe ownership when talking to family, friends, and strangers; the three words they use to describe ownership; their EO A-ha moments; and why anyone seeking work should consider a career at their employee-owned company. Further show notes and the full transcript of this episode are available on our website at <a href="https://www.theesoppodcast.com/post/mini-cast-235-eo-culture-communication-what-dvl-group-does-right" rel="nofollow" target="_blank">https://www.theesoppodcast.com/post/mini-cast-235-eo-culture-communication-what-dvl-group-does-right</a>

Mini-cast 235: Culture and Communication - What DVL Group Does Right

Loren Rodgers

Steve Storkan

 Our 250th Episode!   Bret Keisling is joined by Loren Rodgers (NCEO) and Steve Storkan (EOX) who discuss the newly formed NCEOX Initiative, combining the great messaging of NCEO with the wonderful messengers of EOX. They share plans to bring employee ownership to states and communities with a focus on businesses considering EO and local/state leaders. The National Center for Employee Ownership's unparalleled research is a perfect fit for the focus of Employee Ownership Expansion Network and its state centers, and the NCEOX Initiative formalizes an informal relationship that has gone on for several years. They discuss the importance of all forms of employee ownership: worker cooperatives, ESOPs, and Employee Ownership Trusts (EOTs). They also discuss changing how we talk about EO, and Steve shares how two people influenced how he talks about EO. Spoiler: one came from a previous episode of our podcast.  Finally, Loren and Steve help Bret celebrate this 250th episode! Further show notes are available on our website at https://www.theesoppodcast.com/post/250-the-nceox-initiative-with-loren-rodgers-and-steve-storkan

Our 250th Episode! Bret Keisling is joined by Loren Rodgers (NCEO) and Steve Storkan (EOX) who discuss the newly formed NCEOX Initiative, combining the great messaging of NCEO with the wonderful messengers of EOX. They share plans to bring employee ownership to states and communities with a focus on businesses considering EO and local/state leaders. The National Center for Employee Ownership's unparalleled research is a perfect fit for the focus of Employee Ownership Expansion Network and its state centers, and the NCEOX Initiative formalizes an informal relationship that has gone on for several years. They discuss the importance of all forms of employee ownership: worker cooperatives, ESOPs, and Employee Ownership Trusts (EOTs). They also discuss changing how we talk about EO, and Steve shares how two people influenced how he talks about EO. Spoiler: one came from a previous episode of our podcast. Finally, Loren and Steve help Bret celebrate this 250th episode! Further show notes are available on our website at <a href="https://www.theesoppodcast.com/post/250-the-nceox-initiative-with-loren-rodgers-and-steve-storkan" rel="nofollow" target="_blank">https://www.theesoppodcast.com/post/250-the-nceox-initiative-with-loren-rodgers-and-steve-storkan</a>

Episode 250: The NCEOX Initiative with Loren Rodgers and Steve Storkan

Bret Keisling shares clips from Steve Storkan of the Employee Ownership Expansion Network (EOX) and Darren Gleeman of MBO Ventures. Steve credits a previous episode of the Mini-cast for changing the way he talks about ESOPs. We share a clip of the 2021 episode where Bret gives his take on what would happen if ESOP-world ran the airlines, inspired by what Bret calls the "Gleeman Method" of ESOP communicating, developed by Darren.For too long, the ESOP community has focused on the potential downsides to a transaction, creating a general reputation that ESOP transactions are overly difficult and prone to serious problems. In essence, the Gleeman Method recognizes that ESOP experts are well-qualified to handle transaction, but de-emphasizes "doom and gloom" of what might possibly go wrong to focus on the benefits of transitioning to an ESOP.The video and full transcript of this episode are available on our website at https://www.theesoppodcast.com/post/mini-cast-234-changing-the-way-we-talk-about-esops

Bret Keisling shares clips from Steve Storkan of the Employee Ownership Expansion Network (EOX) and Darren Gleeman of MBO Ventures. Steve credits a previous episode of the Mini-cast for changing the way he talks about ESOPs. We share a clip of the 2021 episode where Bret gives his take on what would happen if ESOP-world ran the airlines, inspired by what Bret calls the "Gleeman Method" of ESOP communicating, developed by Darren. For too long, the ESOP community has focused on the potential downsides to a transaction, creating a general reputation that ESOP transactions are overly difficult and prone to serious problems. In essence, the Gleeman Method recognizes that ESOP experts are well-qualified to handle transaction, but de-emphasizes "doom and gloom" of what might possibly go wrong to focus on the benefits of transitioning to an ESOP. The video and full transcript of this episode are available on our website at <a href="https://www.theesoppodcast.com/post/mini-cast-234-changing-the-way-we-talk-about-esops" rel="nofollow" target="_blank">https://www.theesoppodcast.com/post/mini-cast-234-changing-the-way-we-talk-about-esops</a>

Mini-cast 234: Changing the Way We Talk About ESOPs

Bret Keisling celebrates the first annual Employee Ownership Ideas Forum held this week in Washington D.C. and virtually.  Co-sponsored by the Aspen Institute and the Rutgers SMLR Institute for the Study of Employee Ownership and Profit Sharing, the goal was to bring together policy makers, practitioners, experts, the media, and representatives from employee-owned companies for a robust discussion on how we can all grow employee ownership for the shared benefit of American workers and businesses, as well as the communities and states that the businesses are located in. Maureen Conway of the Aspen Institute and Joseph Blasi of the Rutgers Institute were active throughout the forum, and both did an amazing job, and we say thanks and congratulations to them and all of the panelists, presenters, moderators, and attendees who made the EO Ideas Forum a tremendous success.A link to the EO Ideas Forum website along with a full transcript of this episode are available on our website at https://www.theesoppodcast.com/post/mini-cast-233-first-annual-employment-ownership-ideas-forum

Bret Keisling celebrates the first annual Employee Ownership Ideas Forum held this week in Washington D.C. and virtually. Co-sponsored by the Aspen Institute and the Rutgers SMLR Institute for the Study of Employee Ownership and Profit Sharing, the goal was to bring together policy makers, practitioners, experts, the media, and representatives from employee-owned companies for a robust discussion on how we can all grow employee ownership for the shared benefit of American workers and businesses, as well as the communities and states that the businesses are located in. Maureen Conway of the Aspen Institute and Joseph Blasi of the Rutgers Institute were active throughout the forum, and both did an amazing job, and we say thanks and congratulations to them and all of the panelists, presenters, moderators, and attendees who made the EO Ideas Forum a tremendous success. A link to the EO Ideas Forum website along with a full transcript of this episode are available on our website at <a href="https://www.theesoppodcast.com/post/mini-cast-233-first-annual-employment-ownership-ideas-forum" rel="nofollow" target="_blank">https://www.theesoppodcast.com/post/mini-cast-233-first-annual-employment-ownership-ideas-forum</a>

Mini-cast 233: First Annual Employment Ownership Ideas Forum

Thomas Lewin

Bret Keisling is joined by Thomas Lewin, an Australia-based EO professional advisor and advocate, and founder of ESOP Pal [esoppal.com] which provides ESOP administration and advisory services. They discuss similarities and differences between Australia and US employee ownership platforms and how growing EO internationally strengthens EO everywhere. Tom and ESOP Pal are very prolific on LinkedIn, where they've gained a following for incisive and interesting posts that are creating a lot of buzz about how we look at and talk about employee ownership.Further show notes are available on our website at https://www.theesoppodcast.com/post/249-eo-down-under-with-thomas-lewin

Bret Keisling is joined by Thomas Lewin, an Australia-based EO professional advisor and advocate, and founder of ESOP Pal [<a href="http://esoppal.com" rel="nofollow" target="_blank">esoppal.com</a>] which provides ESOP administration and advisory services. They discuss similarities and differences between Australia and US employee ownership platforms and how growing EO internationally strengthens EO everywhere. Tom and ESOP Pal are very prolific on LinkedIn, where they've gained a following for incisive and interesting posts that are creating a lot of buzz about how we look at and talk about employee ownership. Further show notes are available on our website at <a href="https://www.theesoppodcast.com/post/249-eo-down-under-with-thomas-lewin" rel="nofollow" target="_blank">https://www.theesoppodcast.com/post/249-eo-down-under-with-thomas-lewin</a>

Episode 249: EO Down Under with Thomas Lewin

The ESOP Podcast invites listeners to hear insights from the best in the world of employee ownership,  from lawyers, to valuators, to CEOs, and even employee owners themselves – each bringing their own unique outlook and experience to our ongoing conversation about what makes ESOP participation so valuable to companies!

I was interested in the benefits of ESOP and the practical challenges to setting one up. This is the only podcast I’ve found talking about this and other employee owned company concepts. I feel anyone who wants to sell their company should  consider if this is the right fit for them. I believe everyone deserves to have a basic understanding of what working with different levels of employee ownership might be like and how that becomes possible.

Keystone concepts

Quick and informative takes on various aspects of Employee Stock Ownership.  Thanks.

Delivers the goods!

The ESOP Podcast

Bret Keisling takes a look at Metro Diner (metrodiner.com), a national chain founded in 1992. It's Central PA location is doing a tremendous job weathering the COVID-19 National Emergency by treating their team members like family, and going above and beyond in looking after their needs during this difficult time. (And Metro's food is amazing, too!)More information about Metro Diner's Mechaniscburg location here: https://metrodiner.com/locations/pennsylvania/mechanicsburg/You can read the full linked transcript of today's podcast on our website, here: https://www.theesoppodcast.com/post/mini-cast-74-company-culture-in-a-national-emergency

Bret Keisling takes a look at Metro Diner (<a href="http://metrodiner.com" rel="nofollow" target="_blank">metrodiner.com</a>), a national chain founded in 1992. It's Central PA location is doing a tremendous job weathering the COVID-19 National Emergency by treating their team members like family, and going above and beyond in looking after their needs during this difficult time. (And Metro's food is amazing, too!) More information about Metro Diner's Mechaniscburg location here: <a href="https://metrodiner.com/locations/pennsylvania/mechanicsburg/" rel="nofollow" target="_blank">https://metrodiner.com/locations/pennsylvania/mechanicsburg/</a> You can read the full linked transcript of today's podcast on our website, here: <a href="https://www.theesoppodcast.com/post/mini-cast-74-company-culture-in-a-national-emergency" rel="nofollow" target="_blank">https://www.theesoppodcast.com/post/mini-cast-74-company-culture-in-a-national-emergency</a>

Mini-cast 74: Company Culture in a National Emergency

In this episode we continue our coverage of The ESOP Association's 4th Annual Great Lakes Regional Conference [www.esopassociation.org/chapters] held October 18th - 19th, 2018 at the Kalahari Resort in Sandusky, Ohio, by sharing a session on "Assessing the Feasibility of an ESOP." This session was presented by Brian D. Bornino, CPA/ABV, CFA, CBA, Director of Valuation &amp; Financial Opinion Services at GBQ Consulting LLC, Columbus, OH (Moderator); David L. Bosch, Primary Consultant Defined Contribution and Cash Balance Division at Watkins Ross, Grand Rapids, MI;  and Andrew J. Manchir, ASA, CMA, CEPA, Director of Valuation and ESOP Services Groups at Katz, Sapper &amp; Miller, Indianapolis, IN.This session is for business owners considering a sale to their employees through an ESOP.  It provides an overview of ESOPs and their advantages, and then takes a deeper-dive into some of the key elements of assessing whether an ESOP is feasible (e.g., valuation, financing, management succession, and operating with an ESOP).  We also discuss case studies of successful transitions to employee ownership through an ESOP.

In this episode we continue our coverage of The ESOP Association's 4th Annual Great Lakes Regional Conference [<a href="http://www.esopassociation.org/chapters" rel="nofollow" target="_blank">www.esopassociation.org/chapters</a>] held October 18th - 19th, 2018 at the Kalahari Resort in Sandusky, Ohio, by sharing a session on "Assessing the Feasibility of an ESOP." This session was presented by Brian D. Bornino, CPA/ABV, CFA, CBA, Director of Valuation &amp; Financial Opinion Services at GBQ Consulting LLC, Columbus, OH (Moderator); David L. Bosch, Primary Consultant Defined Contribution and Cash Balance Division at Watkins Ross, Grand Rapids, MI; and Andrew J. Manchir, ASA, CMA, CEPA, Director of Valuation and ESOP Services Groups at Katz, Sapper &amp; Miller, Indianapolis, IN. This session is for business owners considering a sale to their employees through an ESOP. It provides an overview of ESOPs and their advantages, and then takes a deeper-dive into some of the key elements of assessing whether an ESOP is feasible (e.g., valuation, financing, management succession, and operating with an ESOP). We also discuss case studies of successful transitions to employee ownership through an ESOP.

Episode 48 - Assessing the Feasibility of an ESOP

Bruce Bickley

At #NCEO19, we sat down with Bruce Bickley, CPA, of 1042 Consulting.  He takes a fiduciary approach to assist a company in selling to an ESOP in a tax-free transaction, and describes how this transaction takes place,  as well as sharing some of the history of the reasoning behind the 1042 tax code.

Episode 72 - Bruce Bickley of 1042 Consulting

In “ESOP 101” Robert C. Hilton Jr., ASA, at South Park Advisors [southparkval.com], Tabitha Croscut at Devine Millimet and Branch, Attorneys at Law [devinemillimet.com], and Richard A. Heeter at Captial Trustees [captrustees.com] present you with a 360-degree view of the what, why, and how of ESOPs.  You will learn about what an ESOP is and why an employee stock ownership plan may be the right succession planning option for your business, the tax advantages of selling a company to an ESOP for both the buyers and the sellers, and how these transactions are valued and financed. Along the way we bust some common ESOP myths, and we cap off our conversation with an up-to-date look at the ESOP marketplace today.DISCLAIMER: The opinions expressed in this presentation and the presentation materials are not intended to be used as legal or valuation advice. Please consult with counsel as necessary.

In “ESOP 101” Robert C. Hilton Jr., ASA, at South Park Advisors [<a href="http://southparkval.com" rel="nofollow" target="_blank">southparkval.com</a>], Tabitha Croscut at Devine Millimet and Branch, Attorneys at Law [<a href="http://devinemillimet.com" rel="nofollow" target="_blank">devinemillimet.com</a>], and Richard A. Heeter at Captial Trustees [<a href="http://captrustees.com" rel="nofollow" target="_blank">captrustees.com</a>] present you with a 360-degree view of the what, why, and how of ESOPs. You will learn about what an ESOP is and why an employee stock ownership plan may be the right succession planning option for your business, the tax advantages of selling a company to an ESOP for both the buyers and the sellers, and how these transactions are valued and financed. Along the way we bust some common ESOP myths, and we cap off our conversation with an up-to-date look at the ESOP marketplace today. DISCLAIMER: The opinions expressed in this presentation and the presentation materials are not intended to be used as legal or valuation advice. Please consult with counsel as necessary.

Episode 77 - ESOP 101: What, Why, and How

Seth Webber

In this episode, Seth Webber (Principal, CFA, ASA, CBA, CVA, CBEC) of BerryDunn, headquartered in Portland, Maine, shares his extensive expertise on ESOP feasibility studies and plan design. This is the ideal podcast to listen to if you are considering a transition to employee ownership, or exploring your succession plan options.

Episode 53 - Learn about the ESOP Feasibility Study Process, with Seth Webber of BerryDunn

As our regular listeners know, at the end of every recent episode of The ESOP Podcast, we invite you to submit topics for discussion. In this episode, Bret Keisling, Rich Heeter, and Brian Keisling of Capital Trustees go through that 'grab bag' and answer some of your ESOP questions.The questions we cover in this episode:* Are there rules for the minimum amount of information that management has to share with employee owners?* What is the tangible difference is for employee owners at a 100 percent employee owned company versus, say, a 30 percent employee owned company ? And, as a follow-on, which ownership scenario is more common?* How long can a company that just became employee owned expect to wait before seeing the results of becoming an ESOP?* What is diversification and why is it used?* A hypothetical question: My company wants to make a $3,000,000 capital expenditure that we think will result in a lot of new business. But if we take on debt to finance the plans, the share price will decrease. Can management make certain decisions even though they know it will result in a decreased value? * I've heard at conferences that ESOPs can't own real estate. Is this true? And if so, why would there be such a rule?What are prohibited transactions in relation to ESOPs?Thanks to everyone who submitted questions. Please, keep them coming. We plan to do another Q&amp;A session in the future.The full transcript of this episode is available on our website: https://www.theesoppodcast.com/post/40-your-esop-questions-answered

As our regular listeners know, at the end of every recent episode of The ESOP Podcast, we invite you to submit topics for discussion. In this episode, Bret Keisling, Rich Heeter, and Brian Keisling of Capital Trustees go through that 'grab bag' and answer some of your ESOP questions. The questions we cover in this episode: * Are there rules for the minimum amount of information that management has to share with employee owners? * What is the tangible difference is for employee owners at a 100 percent employee owned company versus, say, a 30 percent employee owned company ? And, as a follow-on, which ownership scenario is more common? * How long can a company that just became employee owned expect to wait before seeing the results of becoming an ESOP? * What is diversification and why is it used? * A hypothetical question: My company wants to make a $3,000,000 capital expenditure that we think will result in a lot of new business. But if we take on debt to finance the plans, the share price will decrease. Can management make certain decisions even though they know it will result in a decreased value? * I've heard at conferences that ESOPs can't own real estate. Is this true? And if so, why would there be such a rule? What are prohibited transactions in relation to ESOPs? Thanks to everyone who submitted questions. Please, keep them coming. We plan to do another Q&amp;A session in the future. The full transcript of this episode is available on our website: <a href="https://www.theesoppodcast.com/post/40-your-esop-questions-answered" rel="nofollow" target="_blank">https://www.theesoppodcast.com/post/40-your-esop-questions-answered</a>

Episode 40: Your ESOP Questions Answered

On March 25, 2019, at The ESOP Association New England Chapter Spring Conference, Jon Williams of Blue Ridge ESOP Associates (www.blueridgeesop.com), Bret Keisling of Capital Trustees (www.captrustees.com), and Mary McCooe of Maselan &amp; Jones (http://www.maselanjones.com/) presented on ESOP Basics: Focus on Plan Design and Administration (originally listed in the program as “ESOP 101”.) From the conference program: “Are you new to this whole ESOP thing? Are you a first-time conference attendee? Could you use a refresher course to learn more about the basics? If you answered yes to any of these, then this is the session for you!! You will leave this session with a better understanding of how an ESOP works, why ESOP companies are so great, and what you can do to make yours better! No question is too basic!”Capital Trustees, LLC was proud to be the trustee Gold Sponsor of The ESOP Association New England Chapter’s record-breaking 2019 Annual Spring Conference at the Marriott Burlington in Burlington, Massachusetts.  If you enjoyed this presentation, we encourage you to attend your local ESOP Chapter conference and start a conversation with your fellow owners; learn more at www.esopassociation.org/chapters.

On March 25, 2019, at The ESOP Association New England Chapter Spring Conference, Jon Williams of Blue Ridge ESOP Associates (<a href="http://www.blueridgeesop.com" rel="nofollow" target="_blank">www.blueridgeesop.com</a>), Bret Keisling of Capital Trustees (<a href="http://www.captrustees.com" rel="nofollow" target="_blank">www.captrustees.com</a>), and Mary McCooe of Maselan &amp; Jones (<a href="http://www.maselanjones.com/" rel="nofollow" target="_blank">http://www.maselanjones.com/</a>) presented on ESOP Basics: Focus on Plan Design and Administration (originally listed in the program as “ESOP 101”.) From the conference program: “Are you new to this whole ESOP thing? Are you a first-time conference attendee? Could you use a refresher course to learn more about the basics? If you answered yes to any of these, then this is the session for you!! You will leave this session with a better understanding of how an ESOP works, why ESOP companies are so great, and what you can do to make yours better! No question is too basic!” Capital Trustees, LLC was proud to be the trustee Gold Sponsor of The ESOP Association New England Chapter’s record-breaking 2019 Annual Spring Conference at the Marriott Burlington in Burlington, Massachusetts. If you enjoyed this presentation, we encourage you to attend your local ESOP Chapter conference and start a conversation with your fellow owners; learn more at <a href="http://www.esopassociation.org/chapters" rel="nofollow" target="_blank">www.esopassociation.org/chapters</a>.

Episode 71 - ESOP Basics: Focus on Plan Design and Administration

In this short mini-cast, we look at some of the employee-ownership conferences we'll be attending to start off 2019 right!- Capital Trustees will be at The ESOP Association's 2019 ESOP Professionals' Forum from February 7th - 8th in New Orleans, LA.  As the name implies, this forum is for ESOP professionals only, and is a great opportunity to discuss issues specific to our field in detail.- We'll be at #NCEO19, the National Center for Employee Ownership (NCEO) Conference to be held April 9th – 11th in Pittsburgh, PA. Last year's conference was sold out, so register now so that we can see you there!

In this short mini-cast, we look at some of the employee-ownership conferences we'll be attending to start off 2019 right! - Capital Trustees will be at The ESOP Association's 2019 ESOP Professionals' Forum from February 7th - 8th in New Orleans, LA. As the name implies, this forum is for ESOP professionals only, and is a great opportunity to discuss issues specific to our field in detail. - We'll be at #NCEO19, the National Center for Employee Ownership (NCEO) Conference to be held April 9th – 11th in Pittsburgh, PA. Last year's conference was sold out, so register now so that we can see you there!

Mini-cast 20: ESOP Conferences to Kick-off 2019

In this episode, Bret Keisling discusses control of an ESOP company from the perspective of the employee owner, with simple practical examples. We explain why every court decision and settlement agreement is important to employee owners, and the difference between “controlling” a board of directors, and having its support.

Mini-cast 49: Who Controls an ESOP, Anyway?

We kick off this episode of The ESOP Podcast with a conversation with Peter Alifaris of Pendo Advisors, LLC. He shares our goals in stepping through the "Anatomy of a LIVE ESOP Transaction" in today's presentation; listeners will come away with a real understanding of the process that goes into negotiating an ESOP transaction.We then share Peter Alifaris (Managing Director / ESOP Advisory Practice Leader at Pendo Advisors), Ed Renenger (co-chair of Stevens &amp; Lee's Employee Benefits and Executive Compensation Group), and Rich Heeter, (Principal and Managing Director at Captial Trustees) presenting "Anatomy of a LIVE ESOP Transaction" at the National Center for Employee Ownership (NCEO) 2018 Annual Conference, #NCEO18, in Atlanta, Georgia on Wednesday, April 18th, 2018. Head to this episode on our website, www.captrustees.com, to download the accompanying slideshow presentation and follow along.

We kick off this episode of The ESOP Podcast with a conversation with Peter Alifaris of Pendo Advisors, LLC. He shares our goals in stepping through the "Anatomy of a LIVE ESOP Transaction" in today's presentation; listeners will come away with a real understanding of the process that goes into negotiating an ESOP transaction. We then share Peter Alifaris (Managing Director / ESOP Advisory Practice Leader at Pendo Advisors), Ed Renenger (co-chair of Stevens &amp; Lee's Employee Benefits and Executive Compensation Group), and Rich Heeter, (Principal and Managing Director at Captial Trustees) presenting "Anatomy of a LIVE ESOP Transaction" at the National Center for Employee Ownership (NCEO) 2018 Annual Conference, #NCEO18, in Atlanta, Georgia on Wednesday, April 18th, 2018. Head to this episode on our website, <a href="http://www.captrustees.com" rel="nofollow" target="_blank">www.captrustees.com</a>, to download the accompanying slideshow presentation and follow along.

Episode 32 - "Anatomy of a LIVE ESOP Transaction" at NCEO18

Jason Wellman

Today we have the good fortune to have Jason Wellman, Senior Relationship Consultant with ESOP Partners [www.esoppartners.com], back on The ESOP Podcast.  He was one of our very first guests back when we were just starting out, and we were very pleased to have a chance to sit down with him again after a long day at The ESOP Professionals' Forum in New Orleans.Jason Wellman is a Senior Relationship Consultant with ESOP Partners. Headquartered in northeastern Wisconsin since 2006, ESOP Partners is made up of a full range of ESOP experts which, as you’ll hear, really covers ‘soup to nuts’ of the support of ESOPs. Jason’s role is to help ESOP companies by developing a comprehensive Ownership Culture through proactive educational resources for all participants to improve their understanding of ESOPs' unique benefits.Jason also speaks about his role as the Chair of the ESOP Association Advisory Committee on Ownership Culture and Communications, and the Vice-President of the Wisconsin ESOP Chapter. Jason is also a contributing author for The ESOP Association’s ESOP Report on Ownership Advantage topics to improve ESOP culture and communications for the Association’s members.As Jason mentions, be sure to register now for The ESOP Association’s annual #ESOPDC conference May 22-24 2019 (https://www.esopassociation.org/meetings/annual-conference), and submit your company for the Annual Award for Communications Excellence (AACE) (https://www.esopassociation.org/awards/aace-program).

Today we have the good fortune to have Jason Wellman, Senior Relationship Consultant with ESOP Partners [<a href="http://www.esoppartners.com" rel="nofollow" target="_blank">www.esoppartners.com</a>], back on The ESOP Podcast. He was one of our very first guests back when we were just starting out, and we were very pleased to have a chance to sit down with him again after a long day at The ESOP Professionals' Forum in New Orleans. Jason Wellman is a Senior Relationship Consultant with ESOP Partners. Headquartered in northeastern Wisconsin since 2006, ESOP Partners is made up of a full range of ESOP experts which, as you’ll hear, really covers ‘soup to nuts’ of the support of ESOPs. Jason’s role is to help ESOP companies by developing a comprehensive Ownership Culture through proactive educational resources for all participants to improve their understanding of ESOPs' unique benefits. Jason also speaks about his role as the Chair of the ESOP Association Advisory Committee on Ownership Culture and Communications, and the Vice-President of the Wisconsin ESOP Chapter. Jason is also a contributing author for The ESOP Association’s ESOP Report on Ownership Advantage topics to improve ESOP culture and communications for the Association’s members. As Jason mentions, be sure to register now for The ESOP Association’s annual #ESOPDC conference May 22-24 2019 (<a href="https://www.esopassociation.org/meetings/annual-conference" rel="nofollow" target="_blank">https://www.esopassociation.org/meetings/annual-conference</a>), and submit your company for the Annual Award for Communications Excellence (AACE) (<a href="https://www.esopassociation.org/awards/aace-program" rel="nofollow" target="_blank">https://www.esopassociation.org/awards/aace-program</a>).

Episode 62 - Jason Wellman with ESOP Partners on Ownership Culture

Rich Heeter

In Episode 13 of The ESOP Mini-cast, Trevor Bare of Conrad Siegel [www.conradsiegel.com] joined us with a preview of the November 2018 Employee Ownership Exchange in Lancaster, Pennsylvania.  We're pleased to report the conference was a success. In this episode we share Capital Trustees' Managing Director Rich Heeter's presentation at that conference on "The Roles and Responsibilities of ESOP Trustees." Rich had just returned from the national ESOP conference in Las Vegas, and shares the most up-to-date guidance on the liabilities for which trustees are responsible.

In Episode 13 of The ESOP Mini-cast, Trevor Bare of Conrad Siegel [<a href="http://www.conradsiegel.com" rel="nofollow" target="_blank">www.conradsiegel.com</a>] joined us with a preview of the November 2018 Employee Ownership Exchange in Lancaster, Pennsylvania. We're pleased to report the conference was a success. In this episode we share Capital Trustees' Managing Director Rich Heeter's presentation at that conference on "The Roles and Responsibilities of ESOP Trustees." Rich had just returned from the national ESOP conference in Las Vegas, and shares the most up-to-date guidance on the liabilities for which trustees are responsible.

Episode 55 - Rich Heeter on the Roles and Responsibilities of ESOP Trustees

George Raftopoulos

This episode of The ESOP Podcast begins with an introduction to George Raftopoulos, principal at ROI Cubed a boutique consulting firm that helps business owners with succession planning and implementation.We then share George Raftopoulos and Bret Keisling of Capital Trustees presenting "Making Financial Statements Fun / Fun with Numbers" at the National Center for Employee Ownership (NCEO) 2018 Annual Conference, #NCEO18, in Atlanta, Georgia on Wednesday, April 18th, 2018. Head to this episode on our website, www.captrustees.com, to download the accompanying slideshow presentation and follow along.

This episode of The ESOP Podcast begins with an introduction to George Raftopoulos, principal at ROI Cubed a boutique consulting firm that helps business owners with succession planning and implementation. We then share George Raftopoulos and Bret Keisling of Capital Trustees presenting "Making Financial Statements Fun / Fun with Numbers" at the National Center for Employee Ownership (NCEO) 2018 Annual Conference, #NCEO18, in Atlanta, Georgia on Wednesday, April 18th, 2018. Head to this episode on our website, <a href="http://www.captrustees.com" rel="nofollow" target="_blank">www.captrustees.com</a>, to download the accompanying slideshow presentation and follow along.

Episode 31 - George Raftopoulos of ROI Cubed, and Making Financial Statements Fun at NCEO18

Aaron Moberger

With the pending sale of New Belgium Brewery, we turn to our archives to highlight another great employee-owned company, Mass Bay Brewing Company, known for Harpoon Brewery [www.harpoonbrewery.com] , UFO Beer, and Clown Shoes Beer. Aaron Moberger, an amazing employee-owner and dedicated EO advocate is our guest.You can hear the original October 30th, 2018 release of this episode in "Episode 49" of our archives.  You can find the full linked transcript of today's episode on our website: https://www.theesoppodcast.com/post/94-craft-beer-employee-ownership-with-aaron-moberger-of-harpoon-brewery

With the pending sale of New Belgium Brewery, we turn to our archives to highlight another great employee-owned company, Mass Bay Brewing Company, known for Harpoon Brewery [<a href="http://www.harpoonbrewery.com" rel="nofollow" target="_blank">www.harpoonbrewery.com</a>] , UFO Beer, and Clown Shoes Beer. Aaron Moberger, an amazing employee-owner and dedicated EO advocate is our guest. You can hear the original October 30th, 2018 release of this episode in "Episode 49" of our archives. You can find the full linked transcript of today's episode on our website: <a href="https://www.theesoppodcast.com/post/94-craft-beer-employee-ownership-with-aaron-moberger-of-harpoon-brewery" rel="nofollow" target="_blank">https://www.theesoppodcast.com/post/94-craft-beer-employee-ownership-with-aaron-moberger-of-harpoon-brewery</a>

Episode 94: Craft Beer & Employee Ownership with Aaron Moberger of Harpoon Brewery

Recent episodes have contrasted EO and non-EO companies. Today we look at whether it's appropriate to make capital expenditures (CapEx) that result in a drop in share price, whether it's okay for an ESOP (the trust or the company) to own real estate, and what constitutes a prohibited transaction for ESOPs.For the transcript, links, and other information from today's episode, please visit our website: https://www.theesoppodcast.com/post/99-capex-real-estate-and-esop-share-price

Recent episodes have contrasted EO and non-EO companies. Today we look at whether it's appropriate to make capital expenditures (CapEx) that result in a drop in share price, whether it's okay for an ESOP (the trust or the company) to own real estate, and what constitutes a prohibited transaction for ESOPs. For the transcript, links, and other information from today's episode, please visit our website: <a href="https://www.theesoppodcast.com/post/99-capex-real-estate-and-esop-share-price" rel="nofollow" target="_blank">https://www.theesoppodcast.com/post/99-capex-real-estate-and-esop-share-price</a>

Episode 99: CapEx, Real Estate and ESOP Share Price

In this episode, we share "Best Practices to Help Trustees Sleep at Night" presented at The ESOP Association PA/DE Chapter &amp; NY/NJ Chapter Multi-State 2018 Conference in Hershey, PA on September 13th, 2018.We start with a brief introduction and some background from presenter Gregory Kniesel, Managing Director at Value Management Inc. VMI is a financial consulting firm specializing in valuing businesses, corporate securities, and professional practices.At the presentation, Greg is joined by:- Drake Nicholas, partner at Barley Snyder. Drake manages the firm’s Employee Stock Ownership Plan (ESOP) practice.  - Rich Heeter, Managing Director at Capital Trustees. (You can learn more about Rich in The ESOP Podcast Episode 42: About Capital Trustees)We then share the audio from the interdisciplinary panel. The panel addressed considerations and issues faced by the trustee, including industry and regulatory guidance and a discussion of how ESOP company financial projections are developed and used. The session also includes a discussion of the fiduciary duties.

In this episode, we share "Best Practices to Help Trustees Sleep at Night" presented at The ESOP Association PA/DE Chapter &amp; NY/NJ Chapter Multi-State 2018 Conference in Hershey, PA on September 13th, 2018. We start with a brief introduction and some background from presenter Gregory Kniesel, Managing Director at Value Management Inc. VMI is a financial consulting firm specializing in valuing businesses, corporate securities, and professional practices. At the presentation, Greg is joined by: - Drake Nicholas, partner at Barley Snyder. Drake manages the firm’s Employee Stock Ownership Plan (ESOP) practice. - Rich Heeter, Managing Director at Capital Trustees. (You can learn more about Rich in The ESOP Podcast Episode 42: About Capital Trustees) We then share the audio from the interdisciplinary panel. The panel addressed considerations and issues faced by the trustee, including industry and regulatory guidance and a discussion of how ESOP company financial projections are developed and used. The session also includes a discussion of the fiduciary duties.

Episode 44 - Best Practices to Help ESOP Trustees Sleep at Night

Joe Marx

After our introduction to Joe Marx at the Principal Financial Group (www.principal.com) in our last mini-cast (Mini-cast 40), Bret Keisling continues the conversation with Joe at #ESOPDC.  We discuss Principal's "soup to nuts" ESOP TPA practice:  ESOP feasibility and design, implementation, repurchase liability planning, administration and recordkeeping and ongoing consulting for ESOP companies

After our introduction to Joe Marx at the Principal Financial Group (<a href="http://www.principal.com" rel="nofollow" target="_blank">www.principal.com</a>) in our last mini-cast (Mini-cast 40), Bret Keisling continues the conversation with Joe at #ESOPDC. We discuss Principal's "soup to nuts" ESOP TPA practice: ESOP feasibility and design, implementation, repurchase liability planning, administration and recordkeeping and ongoing consulting for ESOP companies

Episode 79 - Joe Marx on Principal Financial Group's ESOP Practice

Why should EO professionals support State Centers? More EO means more business for the professionals. Bret Keisling shares his experiences as a founding member of PaCEO (https://ownershippennsylvania.org/), and how it was important to his former firm’s growth, even if there were no “direct” referrals. Also: Congrats to Rich Heeter and Capital Trustees on its new offices.The full, linked transcript of this episode is available on our website: https://www.theesoppodcast.com/post/68-eo-professionals-and-state-centers

Why should EO professionals support State Centers? More EO means more business for the professionals. Bret Keisling shares his experiences as a founding member of PaCEO (<a href="https://ownershippennsylvania.org/" rel="nofollow" target="_blank">https://ownershippennsylvania.org/</a>), and how it was important to his former firm’s growth, even if there were no “direct” referrals. Also: Congrats to Rich Heeter and Capital Trustees on its new offices. The full, linked transcript of this episode is available on our website: <a href="https://www.theesoppodcast.com/post/68-eo-professionals-and-state-centers" rel="nofollow" target="_blank">https://www.theesoppodcast.com/post/68-eo-professionals-and-state-centers</a>

Mini-cast 68: EO Professionals and State Centers

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