ESOPs are gaining traction. In the "Journey to an ESOP & Beyond” podcast, Phillip Hayes and Jason Miller explain the process of the ESOP transaction and address ESOPs from a business owner's perspective. They illuminate the simplicity of ESOPs and debunk common misconceptions that ESOPs are immensely costly and complicated.
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The Mountain Stage Podcast is the complete recording of the entire live show. It features songs that were cut from the radio broadcast, and it is the only place you can hear the full finale song. New episodes become available about 10 days after the premiere broadcast date. We have Spring and Fall seasons of new broadcasts, so if you heard a recent show but don’t see it at the top of the feed, just scroll back a few weeks or use the search function to find a specific artist.
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1,052 - MC Taylor Goldsmith Show, Kat Edmonson, Ken Pomeroy, Jonny Fritz, and Scott Mulvahill
2:12:07
2:12:07
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2:12:07This episode was recorded on March 9, 2025 at the Culture Center Theater in Charleston, WV. The lineup includes The MC Taylor Goldsmith Show (featuring Taylor Goldsmith of Dawes and MC Taylor of Hiss Golden Messenger), Kat Edmonson, Ken Pomeroy, Jonny Fritz, and Scott Mulvahill. https://bit.ly/4iftS6O…
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EP10 - Band of Brothers - Employee Centric Cultures For ESOPs
40:22
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40:22The show “Band of Brothers” offers a perfect example of leadership from the character of Captain Sobel and provides examples of overcoming obstacles to establish a strong culture. Specifically, the show provides an example of an employee-centric culture: a culture that embodies a solid group of employees ultimately banding together. This episode co…
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1,051- Larkin Poe, Victoria Canal, Raye Zaragoza, Ron Pope, and Christian Lopez
2:19:19
2:19:19
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2:19:19This episode was recorded on February 16th, 2025 at the Canady Creative Arts Centerat West Virginia University in Morgantown, WV. The lineup includes Larkin Poe, Victoria Canal, Raye Zaragoza, Ron Pope, and Christian Lopez. https://bit.ly/3RWmKBeBy West Virginia Public Broadcasting
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1,050- The Headhunters, Amanda Anne Platt & The Honeycutters, David Berkeley, Buffalo Rose, and Crys Matthews
2:14:14
2:14:14
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2:14:14This episode was recorded on February 2nd, 2025 at the Culture Center Theater in Charleston, WV. The lineup includes The Headhunters, Amanda Anne Platt & The Honeycutters, David Berkeley, Buffalo Rose, and Crys Matthews. https://bit.ly/42AWjHvBy West Virginia Public Broadcasting
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EP9 - ESOPs and The Economy - Interview with Chris Cucci - Climate First Bank
41:06
41:06
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41:06In this episode the podcast discusses the recent uncertainty with the economy and how this effects the ESOP world. Considering this, the podcast interviews senior level banker Chris Cucci with Climate First Bank. Chris’ bank does financing for ESOP deals all over the United States, providing valuable perspective on ESOP financing credit decisions i…
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1,049 - Oliver Wood, Stephen Wilson Jr., Dar Williams, TopHouse, and Cloud Cult
2:23:54
2:23:54
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2:23:54This episode was recorded on January 26th, 2025 at the Culture Center Theater in Charleston, WV. The lineup includes Oliver Wood, Stephen Wilson Jr., Dar Williams, TopHouse, and Cloud Cult. https://bit.ly/4hTzT8LBy West Virginia Public Broadcasting
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1,048 - Kip Moore, Joy Clark, Brad Tursi, Andrew Marlin Stringband, and Matt Mullins & The Bringdowns with guest host David Mayfield
2:22:08
2:22:08
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2:22:08This episode was recorded on December 8, 2024 at the Culture Center Theater in Charleston, WV. The lineup includes SKip Moore, Joy Clark, Brad Tursi, Andrew Marlin Stringband, and Matt Mullins & The Bringdowns with guest host David Mayfield. bit.ly/4iwypCoBy West Virginia Public Broadcasting
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EP8 - Knowing: Warrants and SARs for ESOPs
40:31
40:31
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40:31This episode provides the background on both Warrants and SARs in an ESOP transaction. The typical usage of synthetic equity structured within a deal can create a solid win-win for the shareholders and the company. Within the topic, the podcast uses the Nicolas Cage film “Knowing” as an example to explain how a warrant and SAR model help to predict…
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1,047 - Stephen Kellogg, Jill Sobule, Mindy Smith, Caleb Caudle & The Sweet Critters, and The David Mayfield Parade
2:30:05
2:30:05
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2:30:05This episode was recorded on December 1st, 2024 at the Culture Center Theater in Charleston, WV. The lineup includes Stephen Kellogg, Jill Sobule, Mindy Smith, Caleb Caudle & The Sweet Critters, and The David Mayfield Parade, with guest host Conor Knighton. http://bit.ly/3FLIixDBy West Virginia Public Broadcasting
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EP7- ESOP Experience Industrial Supply Company (ISCO) with Jason Ireland, President
38:39
38:39
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38:39On this podcast episode we interview Jason Ireland, President of Industrial Supply Company (ISCO), a distributor of manufacturing parts who went 100 percent ESOP last year. Jason explains the step by step process their 100-year-old company went through to transition to an ESOP process. The company was part union and part non-union, providing some b…
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EP6 - Mad World of ESOPs - As Transactions Vary
43:45
43:45
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43:45The Mad World of ESOPs! This episode reviews the roles ESOP professionals play and the reality of variance in one transaction to another. We discuss the differences in costs, approaches to structure, closings, and other areas given the backgrounds, perspectives and objectives in leading the transaction. This episode is intended to help orient the l…
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EP5 - Selling an Employee-Owned Company - Discussion with Greg Daugherty ESOP Attorney
46:52
46:52
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46:52In some cases an ESOP company can choose to sell to an outside buyer after they transition to an employee-owned company. In this episode Greg Daugherty, Porter Wright and, I discuss the factors related to selling your company after it has become an employee-owned company. Greg does a great job of discussing how this process works and what business …
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EP4 - Casino Royale - Taking Chips Off The Table - Partial ESOPs
39:59
39:59
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39:59Arguably one of the best James Bond 007 movies - “Casino Royale” - is it time to get some chips off the table? This episode focuses on the motivations of why some companies look at doing a partial ESOP which is going to be accompanied by risk/reward decisions. Not as risky as going all in and hoping for the high hand. But a partial ESOP can still b…
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EP3 - ESOP Interview with Jeff Forrestall from Forrestall CPAs to discuss ESOP Financing and Tax Planning
48:30
48:30
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48:30Journey to an ESOP and Beyond continues to bring perspectives that can challenge conventional thinking and at the least provide the listener with questions for their advisors. Jeff Forrestall, CPA provides a good overview of the changes in SBA ESOP financing as well as a compelling forward planning model to leverage the C Corp opportunity beyond 10…
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EP2 - Meet Joe Black - Death and Taxes - 453a Tax Issue Related to Seller Note and Capital Gains Tax
21:00
21:00
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21:00This episode takes advantage of the classic film “Meet Joe Black” starring Brad Pitt and Anthony Hopkins. The podcast uses the movie to demonstrate the two guarantees in life - Death and Taxes. The nuances of taxes can catch individuals by surprise. As it relates to an ESOP transaction - most of the time there is a resulting seller note established…
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EP1 - It Takes A - TEAM (Special Message for New Season)
30:58
30:58
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30:58This is the first episode of the new year where we like to cover changes to the podcast. This kick off message for season 6 focuses on our core value: “It Takes A Team”. This works out well to connect the dots on the old tv show and 2010 movie “The A - Team”. Some of the changes to the podcast have already been incorporated in our logo change. This…
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1,046 - Blitzen Trapper, Low Cut Connie, Town Mountain, and Humbird
2:18:31
2:18:31
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2:18:31This episode was recorded on November 10th, 2024 at the Culture Center Theater in Charleston, WV. The lineup includes Blitzen Trapper, Low Cut Connie, Town Mountain, and Humbird. https://bit.ly/4gv55LGBy West Virginia Public Broadcasting
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EP33 – ESCA - Interview with Noelle Montano – ESOPs and Washington
47:06
47:06
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47:06In this episode, Noelle Montano returns to discuss ESCA’s tireless efforts to preserve and promote the S-Corporation ESOP in Washington after the 2024 election. We also discuss some of the impacts employee ownership has on companies, communities, and Congress.By Jason Miller / Noelle Montano
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1,045 - Brother Elsey, Jenny Owen Youngs, Matt Pond PA, Caleb Klauder & Reeb Willms, and Jeremy Short
2:24:11
2:24:11
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2:24:11This episode was recorded on November 3rd, 2024 at the Culture Center Theater in Charleston, WV. The lineup includes Brother Elsey, Jenny Owen Youngs, Matt Pond PA, Caleb Klauder & Reeb Willms, and Jeremy Short. http://bit.ly/3Pl761nBy West Virginia Public Broadcasting
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EP32 - ESOP Experience with Tactical Rehabilitation Insight from Kevin MacRitchie, CEO and Karen Lyons, CFO On Their Journey To An ESOP
56:57
56:57
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56:57Every company has its own lessons to be learned in the journey of converting to an ESOP. This interview with Kevin MacRitchie, CEO and Karen Lyons, CFO of Tactical Rehab provides key leadership perspective on the transition of this company through the process of becoming an ESOP. Kevin has a large company background and has brought a level of manag…
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EP31 - Alone Again, Naturally Needing To Consider Leadership For An ESOP
42:38
42:38
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42:38This episode highlights the leadership issue a business finds itself continually facing. Ongoing leadership development is a common concern with most companies both before, during, and after the ESOP transition. Going through the feeling of being “Alone Again” is a natural and normal issue that needs to be addressed whether it be for management suc…
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1,044 - Dave Alvin & Jimmie Dale Gilmore with the Guilty Ones, Will Hoge, Alex Cuba, MALINDA, and Sarah Siskind
2:24:25
2:24:25
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2:24:25This episode was recorded on October 27th, 2024 at the Culture Center Theater in Charleston, WV. The lineup includes Dave Alvin & Jimmie Dale Gilmore with the Guilty Ones, Will Hoge, Alex Cuba, MALINDA, and Sarah Siskind. https://bit.ly/3ZcDA3oBy West Virginia Public Broadcasting
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1,043 - JD Simo & Luther Dickinson, Paul Kelly, Kyle Tuttle Band, John Craigie, and Wayne Graham
2:31:57
2:31:57
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2:31:57This episode was recorded on October 20th, 2024 at Joan C. Edwards PAC in Huntington, WV. The lineup includes JD Simo & Luther Dickinson, Paul Kelly, Kyle Tuttle Band, John Craigie, and Wayne Graham. http://bit.ly/3AIaZcSBy West Virginia Public Broadcasting
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EP30 - Challenges For Mature ESOP Companies
47:27
47:27
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47:27This episode addresses effort the challenges and applicable solutions for a mature ESOP company. Diana Clark and Jason Miller provide insight into including preservation of ESOP knowledge in the organization contemplating changes to leadership. Other items we discuss include how to look ahead at areas that need to be thought about not only as a mat…
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1,042 - Kyshona, American Patchwork Quartet, The Brother Brothers, and Stephanie Lambring
2:17:43
2:17:43
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2:17:43This episode was recorded on October 6th, 2024 at Carnegie Hall in Lewisburg, WV. The lineup includes Kyshona, American Patchwork Quartet, The Brother Brothers, and Stephanie Lambring. https://bit.ly/4fjALTNBy West Virginia Public Broadcasting
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1,041 - Todd Snider, Amy Helm, Drew Holcomb & The Neighbors, and Randall Bramblett
2:21:46
2:21:46
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2:21:46This episode was recorded on September 21st, 2024 at the Franklin Theatre in Franklin, TN. The lineup includes Todd Snider, Amy Helm, Drew Holcomb & The Neighbors, and Randall Bramblett. https://bit.ly/48tV4vlBy West Virginia Public Broadcasting
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EP29 - Fast and Furious - How Do You Gain Support For Your ESOP
37:33
37:33
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37:33This episode was inspired by the recent NCEO conference and provides a good overview for those that are new to an ESOP or those who have recently transitioned to an ESOP. The podcast discusses the need to build the employee-ownership concept as a vibrant part of the culture of your company. As we go through some of these concepts, we will address t…
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1,040 - Madi Diaz, Judith Owen, The Dead Tongues, Swamp Dogg, and Tim Heidecker
2:26:45
2:26:45
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2:26:45This episode was recorded on September 20th, 2024 at the Franklin Theatre in Franklin, TN. The lineup includes Madi Diaz, Judith Owen, The Dead Tongues, Swamp Dogg, and Tim Heidecker. https://bit.ly/3YvWUs7By West Virginia Public Broadcasting
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1,039 - Joe Pug, Jobi Riccio, Carrie Newcomer, Curtis McMurtry, and The Local Honeys
2:22:56
2:22:56
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2:22:56This episode was recorded on August 25th, 2024 at the Culture Center Theater in Charleston, WV. The lineup includes Joe Pug, Jobi Riccio, Carrie Newcomer, Curtis McMurtry, and The Local Honeys. https://bit.ly/4dJSWAqBy West Virginia Public Broadcasting
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EP 28 - Estate Planning and ESOPs: Interview with Agnes Gregory (Tax Partner) and Justin Stemple (ESOP Attorney)
44:43
44:43
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44:43This episode is extremely timely given the potential changes to estate tax. Agnes Gregory with Berman Hopkins CPA tax team in Orlando FL and Justin Stemple with Warner Norcross + Judd from Grand Rapids, MI explain how important it is to have an Estate/Gift Tax plan going into an ESOP transaction. We cover some important elements of Estate planning …
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1,038 - Paul Thorn, Raul Midón, Wood Box Heroes, Eden Brent, and Jett Holden
2:22:14
2:22:14
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2:22:14This episode was recorded on August 18th, 2024 at the Robinson Grand Performing Arts Center. The lineup includes Paul Thorn, Raul Midón, Wood Box Heroes, Eden Brent, and Jett Holden. https://bit.ly/4dJSWAqBy West Virginia Public Broadcasting
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1,037 - Maggie Rose, The Brothers Comatose, Kelsey Waldon, Myron Elkins, and Fantastic Cat
2:23:43
2:23:43
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2:23:43This episode was recorded on June 23rd, 2024 at the Culture Center Theater in Charleston, WV. The lineup includes Maggie Rose, The Brothers Comatose, Kelsey Waldon, Myron Elkins, and Fantastic Cat. https://bit.ly/3zGG3JsBy West Virginia Public Broadcasting
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EP27 - Dirty Rotten Scoundrels - Identifying Roles at the ESOP Conference
43:39
43:39
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43:39This episode highlights ESOP advisors you may run into at the conferences (or really anywhere!) The topic is to help provide an overview of the ranging roles as it applies to ESOP advisory and how to choose advisors who can best support your personal journey to an ESOP.
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1,036 - John R. Miller, Cris Jacobs, Lindsay Lou, Jeffrey Martin, and Margo Cilker
2:28:35
2:28:35
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2:28:35This episode was recorded on June 16th, 2024 at the Culture Center Theater in Charleston, WV. The lineup includes John R. Miller, Cris Jacobs, Lindsay Lou, Jeffrey Martin, and Margo Cilker. https://bit.ly/3THMOkXBy West Virginia Public Broadcasting
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EP26 - Interview with an ESOP Trustee - Bryce Lenox out of Cincinnati OH.
42:05
42:05
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42:05This episode focuses on the role of the ESOP trustee through an interview with Bryce Lenox - an ESOP trustee out of Cincinnati, OH. Bryce does a great job reviewing the role of an ESOP trustee both on the transaction and ongoing side. Relating to transaction, Bryce explains the role he plays as a buyer and the steps he takes to conform to the depar…
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EP25 - Pink Panther - The Strangeness of ESOP Negotiation
37:21
37:21
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37:21In this podcast episode we use a classic scene from the movie “Pink Panther” which highlights using the “American” French accent to illustrate the strangeness related to an ESOP negotiation. In ESOP transactions it is important to understand that the purchase price or valuation of shares being sold hinge on the ultimate result of the negotiation wi…
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EP24 - The Power Of Monthly ESOP Communication With Diana Clark
49:59
49:59
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49:59This episode we invite Diana Clark, who specializes as a full-time ESOP communication’s consultant, to provide a framework to understand the power of frequent and effective communication around employee ownership. If you are brand new to ESOPs or been an employee-owned company for a few years or even many years - the bottom line of communication wi…
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EP23 - Inside Out - Part 2 - Inside Note vs. Outside Note
40:45
40:45
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40:45This episode is part 2 of discussing the inside note versus the outside note on an ESOP transaction. We feature the recently released part 2 of Inside Out - as it is an excellent sequel in the story of how human emotions can play into how we make decisions , in particular how anxiety can cause problems in daily life. The podcast contrasts this to h…
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EP22 - ESOPs for the Construction Industry – interview with Joe Hurt of RLH Construction, a 100 percent ESOP
50:50
50:50
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50:50This episode represents the 2nd interview with Joe Hurt of RLH Construction. Joe discusses some of the challenges and opportunities of an established ESOP. A few years into their ESOP, RLH Construction has experienced very strong results from the ESOP. Joe is the CEO of the company and has worked through issues such as leadership transition, retiri…
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EP21 - Inside Out: Inside Note Vs. Outside Note - Part 1
36:04
36:04
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36:04This episode provides clarification to the difference between an inside note and an outside note. In an ESOP transaction there will be two types of notes created when the transaction occurs. This episode is part 1 of 2 episodes. The first part explains the background of the terminology as it relates to why these two types of notes exist. The majori…
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EP20 - Corey Rosen with NCEO - An Update on ESOPs
48:23
48:23
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48:23On the podcast this week, we interview Corey Rosen, the founder of NCEO and a huge contributor to ESOPs discusses the updates and trends relative to ESOP companies. Through our discussion, Corey highlights the expansion of ESOPs as the finance world has begun to leverage this realities and benefits of an ESOP in private equity. Some of these ideas …
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EP19 - Miss Peregrine Home for Peculiar Children-Motivations for an ESOP
36:58
36:58
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36:58In this episode we discuss the motivations for selling your business to an ESOP. The focus of this episode is to help better understand the reasons to choose an ESOP. The episode was encouraged by the experiences of working through other company’s ESOPs and interacting with diverse personalities and companies, along with their varying goals and obj…
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EP18 - Dealing with Mature ESOPs, Repurchase Liability, Changes in Economy, and Re-leveraging - Discussion with Renee Jenkins with Holiday Builders
44:51
44:51
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44:51This episode will be very informative through the long-tenured experience of Renee Jenkins with Holiday Builder’s ESOP. Renee has been a long-time employee of the company managing the Finance/HR Branch. On this episode of the Podcast, we discuss the issues in a straightforward approach and solutions that she has worked through. This discussion cove…
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1,035 - Southern Avenue, Driftwood, Elvie Shane, Melissa Ferrick, and Jeff Plankenhorn
2:22:56
2:22:56
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2:22:56This episode was recorded on May 19th, 2024 at the Culture Center Theater in Charleston, WV. The lineup includes Southern Avenue, Driftwood, Elvie Shane, Melissa Ferrick, and Jeff Plankenhorn. https://bit.ly/3xyjyVZBy West Virginia Public Broadcasting
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1,034- Suzy Bogguss, Stephane Wrembel, Mama's Broke, Denitia, and Goldpine
2:26:21
2:26:21
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2:26:21This episode was recorded on May 12th, 2024 at the Culture Center Theater in Charleston, WV. The lineup includes Suzy Bogguss, Stephane Wrembel, Mama's Broke, Denitia, and Goldpine. https://bit.ly/4c3Wei5By West Virginia Public Broadcasting
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EP17 - Quigley Down Under - Taking the Long Shot - Preparing for a Successful ESOP
33:29
33:29
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33:29We find that once an ESOP closes, there is some degree of uncertainty on the next steps. In this episode, we focus on the ESOP closing guide to prepare clients on the correct ways to implement the organizational structure and timeline of a successful ESOP. In other words, we cover how to accomplish a company’s goals in the transition of an ESOP tha…
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EP16 - ESOPs and Private Equity - Discussion with Jason Miller
46:38
46:38
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46:38On this episode, Jason Miller (former National Director of ESOPs for Bank of America) and I explore the “Expanding ESOP Initiative” that was recently aired on 60 Minutes. The focus of this podcast is to provide an update as to what is happening in the National ESOP space and how the ESOP initiative started. The initiative’s work is centered around …
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1,033- Ruthie Foster, Charlie Mars, Fellow Pynins, The Wandering Hearts, and Rebecca Porter
2:41:26
2:41:26
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2:41:26This episode was recorded on April 28th, 2024 at WVU's Canaday Creative Arts Center in Morgantown, WV. The lineup includes Ruthie Foster, Charlie Mars, Fellow Pynins, The Wandering Hearts, Rebecca Porter, and guest host David Mayfield. https://bit.ly/4aMlc3ZBy West Virginia Public Broadcasting
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1,032- Bettye LaVette, Keller Williams, Kim Richey, The Langan Band, Megan Jean's Secret Family
2:33:42
2:33:42
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2:33:42This episode was recorded on April 21st, 2024 at Ohio Univeristy's Templeton-Blackburn Alumni Memorial Auditorium in Athens, Ohio. The lineup includes Bettye LaVette, Keller Williams, Kim Richey, The Langan Band, Megan Jean's Secret Family. https://bit.ly/4aGU9H9By West Virginia Public Broadcasting
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1,031-Duke Robillard Band, Cedric Burnside, Sam Weber, Las Cafeteras, and The Black Feathers
2:29:43
2:29:43
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2:29:43This episode was recorded on March 24th, 2024 at the Culture Center Theater in Charleston, WV. The lineup includes Duke Robillard Band, Cedric Burnside, Sam Weber, Las Cafeteras, and The Black Feathers. https://bit.ly/3UoAENnBy West Virginia Public Broadcasting
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