This 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.

This 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…

In 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…

This 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…

This 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…

This 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…

This 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…

On 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 …

In 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…

This 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…

This week we start what will become a series of podcasts chronicling the journey of the City of Shakopee, MN through the APWA Accreditation process. Shakopee decided to take this on several months ago and a couple of months into the process at the time of this recording. This is a great conversation about why Shakopee decided to do this, how they f…

We 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…

In our 32nd episode we are joined by the City of Edina's Master Electrician and Supervisor Noah Silver. Noah guides us through this nerd session on Electric Vehicles and the required infrastructure to support them. Join us for a transformative discussion on how the City of Edina is spearheading the future of electric vehicle (EV) charging infrastru…

On 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 …

This week we may have to temporarily rename the podcast "The Parks and Recreations Nerds" as we welcome Matt Johnson, Director of Parks and Recreation for the City of Roseville. Along with my guest co-host Bryce Shearan, a colleague of mine at Bolton & Menk and former Parks and Recreation Director at the City of Little Canada. Bryce also hosts anot…

This episode focuses on the development of an expected valuation to help a shareholder understand selling their shares to an ESOP. When the historical average cash flow is much lower than the forecasted cash flow, the negotiated fair market value or adequate consideration can be much lower than desired. This is what the podcast refers to as “bridge…

We are back for our 30th episode here at The Public Works Nerds! Here is the AI Generated Description. I have to call it out because I can't take credit for this prose: Unlock the secrets to transforming public perception and securing project funding through masterful communication with our esteemed guest, Sara Renney, Carver County's communication…

This episode is a general overview of ESOP communication. Diana Clark and I discuss the importance of communicating an ESOP transition to your employees. We discuss how to present an ESOP to your company, answering the question: What is in it for the employee? This is a very essential part of the ESOP journey--once the ESOP closes this marks a new …

Join us for Take 2 of the Nerds Unplugged where I sit down with Deb Heiser, Engineering Director for the City of St. Louis Park, MN, and Richard McCoy, Public Works Director and City Engineer for the City of Robbinsdale, MN. We recap the last four episodes and chat about some random topics like college tours, bridge collapses, and infrastructure fu…

Randy Macho Man Savage was a childhood hero who my brothers and I constantly impersonated while watching WWF wrestling. For a time, I didn’t realize it was choreographed fighting and not a real fight. This podcast episode uses this picture of WWF Wrestling to discuss what is called the “bring down” call for an ESOP transaction. This is a call condu…

Episode 8 of Season 2 features Chris Evers, a 2023 APWA Top Ten Public Works Leader award winner. That's why I contacted Chris, but I'm so happy I did for many reasons. First of all, I was finally able to nerd out on pavement maintenance. But I was also able to meet a pretty funny, smart, and gracious person in Chris Evers. And since Chris brought …

This podcast episode features Nancy Pratt, CFO of Frederick Derr and Company. They are a construction company out of Sarasota, FL who closed on a 100 percent ESOP transaction at the end of 2023. The episode is our first interview from a CFO perspective. Nancy does a phenomenal job of explaining the ESOP process from the role of the CFO. This episod…

This episode took some time to get out there! Blame vacations and some tech issues, but I am finally dropping the 7th episode in Season 2 - and its a good one! Super fan and Tree Nerd Hannibal Hayes from the City of Minnetonka, MN joins me to talk about using technology to better manage the urban forest. We go off on some tangents about Emerald Ash…

This podcast is all about designing your ESOP so the company can be successful and avoid any potential pitfalls. Through the episode, we get to celebrate the movie: “Titanic” (Spoiler alert - the ship sinks at the end). One of the aspects of ESOP design is understanding the ESOP process and the importance of cash flow and balancing leverage for the…

This episode we dive into the very essential role of the transaction/ongoing ESOP trustee with Bill Kropkof out of Dallas TX. Bill’s background includes time with the Department of Labor - so he brings a perspective that is very helpful to think about how that affects a transaction as well as ongoing work related to best practices related to truste…

Tom Service talks to Sir Mark Elder about the legacy that he is leaving behind him after 24 years as Music Director at the Hallé Orchestra. He talks to Tom about Charles Hallé and his mission to set up an orchestra for all the people of Manchester, and how his ethos is still central to the orchestra today. Not only has mark Elder evolved the sound …

In this episode, I discuss the tension of making these choices around ESOP - but not just the path of an ESOP. This episode is to discuss some general ideas around what shareholders face when making decisions towards how they go about the transition of their business.โดย Phil Hayes

This week I'm joined by a Smart Cities team from Raleigh, North Carolina. Jim Alberque is the GIS and Emerging Technology Manager for the City of Raleigh and John Holden is the Smart City Manager for Raleigh. We talk about what does Smart Cities mean for Raleigh and how is the City focusing on different efforts under this umbrella. We cover quite a…

Tom Service talks to pianist and writer, Susan Tomes, about her new book Women and the Piano - a History in 50 Lives. Those lives include well-known names today, from Clara Schumann to Nina Simone, but also many women like Marianne Martinez who have been eclipsed from previous histories of pianists. Tom and Susan discuss how women went from being t…

On this episode - Dale Hobbs founder of Hobbs Madison - consulting firm discusses him and his partner (Gary Madison’s) journey to an esop. Dale and I discuss the process that we worked through to sell 100 percent of their stock to a newly formed ESOP.โดย Phil Hayes / Dale Hobbs

Presented by Tom Service. This week, Tom talks to the American mezzo-soprano Joyce DiDonato about her life in music, and her creative mission to challenge the status quo. From her work in refugee camps, to her long relationship with the maximum security prison SingSing in New York State, as well as in concert halls and opera stages, DiDonato confou…

In this episode I sit down with my hometown Public Works Director, Sean Kershaw. As any public works nerd knows, we are at times over critical of those that serve us where we live, and we most likely have experienced that heightened scrutiny from current and retired public works professionals that live in our communities. It can be good, reaffirmin…

Sara Mohr-Pietsch talks to renowned American pianist, Jeremy Denk, ahead of his Wigmore Hall recital of Bach Partitas. He discusses his passion for Bach and the profound impact and connection he has when he plays his music. Sara talks to Grammy-nominated composer Missy Mazzoli ahead of the day-long immersion into her work with the BBC Symphony Orch…

On this episode I have been re-inspired by this great song to focus on why holistic planning your ESOP should minimize your worry of selling your stock during your journey to an ESOP. As we go through the planning process, there simply are measures taken to balance all of the elements of your ESOP plan to provide a win-win-win…yes a triple win - on…

I have been talking about EOS for years - so helpful to get to interview Mark O’Donnell, CEO of EOS Worldwide to discuss how Traction has made such an impact with companies executing strategically and implementing innovation at the highest levels. The ESOP is a natural choice for EOS companies given the strong core values, culture, business process…

Welcome to the first Nerds Unplugged episode! Deb Heiser, Michael Thompson and Mark Ray join me as a panel of opinionated Public Works professionals talking about random issues related to Public Works. This is planned to be a monthly or so feature where we recap recent podcast episodes, talk about public works issues in the news and give updates to…

This episode is focused on addressing a super common question with companies going through the ESOP process with their key people. Proactive communication is really the best way to approach your key people - however the question is when should you talk with them and how much can you tell them. This is really difficult to answer as it deeply depends…

Tom Service talks to composer Anna Meredith as her soundtrack to the poetic British film The End We Start From, and starring Jodie Comer, is featuring in cinemas across the UK. She talks in detail about the compositional process; from the very beginning as she hums a tune and records it onto her phone, to the workings required to produce music that…

In this episode - I interview Steve Storkan and their approach at EOX, an organization founded out of the NCEO to develop state employee ownership educational resources to support companies considering ESOP as an option. Their approach is in response to research that shows - states with education on ESOPs have a lot more ESOP companies. Steve has a…

Kate Molleson talks to pianist Tamara Stefanovich. A champion of 20th and 21st century music, Tamara explains her deep connection with the music of now, how global politics have shaped her life in music, and her insatiable appetite for learning which meant she skipped seven years of school. Kate meets Irish fiddler Martin Hayes who shares his thoug…

Join us for our first of hopefully many conversations with an APWA Top Ten Public Works Leader. In this episode we are joined by a Public Works Nerds Podcast veteran, Russ Matthys. In 2023, Russ was one of 10 professionals named a Top Ten Public Works Leader by APWA. We talk to Russ about the award and what that means to him. We also talk about a n…

Tom Service meets French pianist Jean-Yves Thibaudet during his recital tour where he performs both books of Debussy’s Préludes. His 1996 recording of the pieces has just been re-released on vinyl with artwork created by his friend Vivienne Westwood, shortly before she died. Jean-Yves talks to Tom about the need to collaborate, his love of Debussy,…

In this episode, we jump right into the expanded version of Season 5 by dealing some factors related to communicating the ESOP to your employees. Jumanji is an ideal movie to explain that there is something that changes after an ESOP that can change the outlook on how employees see themselves - who they are and who they want to be - we want them to…

Tom Service meets Finnish soprano, Karita Mattila as she prepares for her role as Klytämnestra in Strauss’s Elektra at the Royal Opera House in London. She talks to him about the roles her voice now allows her to sing 40 years after winning the Cardiff Singer of the World competition. Tom drops in on rehearsals at Song in Sign, the latest project f…

This episode is really meant to get at the heart of what defining employee communication for ESOPs. We interview employees that are volunteering at Smooth Fusion - an ESOP company out of Texas - to participate in a newly formed esop committee. We discuss the roles in the company, their ESOP communication strategy as well as extras that they are asp…

Discover the transformative power of recycling and how it intertwines with community economics in our latest Public Works Nerds podcast episode. I, Marc Culver, am joined by the insightful Kate Davenport, co-President of Eureka Recycling, who not only shares her personal journey from climate activism to leading a nonprofit recycling enterprise but …

Tom Service speaks to the conductor Yannick Nézet-Séguin, Music Director of the Montreal Philharmonic, the Philadelphia Orchestra, and the Metropolitan Opera in New York. He is one of the starriest and most sought-after conductors in the world. also one of the most loved by the musicians who work with him. Nézet-Séguin is guest conductor to some of…

This episode officially kicks off the Season 5 and the expansion of the podcast as a direct resource for Employee Stock Ownership Plans. The Journey to an ESOP just became better because we are incorporating “& Beyond” to discuss not only pre-esop topics but go beyond that and deal with post-esop topics and issues that come up. This episode provide…

Sara Mohr-Pietsch talks to one of the 21st-century's leading creative artists – the American composer and interdisciplinary artist, Meredith Monk. Celebrating her 80th birthday the year before last, Meredith’s creativity spans decades and traverses site-specific works and happenings in the 60s, through films during the 70s and 80s, to an impressive…

Unlock the secrets of how cities are combatting the pernicious issue of lead in our drinking water, as Chelsea Alger and Dave Malm from Bolton & Menk join us to dissect the monumental task of lead service line replacement. With the Flint water crisis still fresh in our memories, we explore the complexities of updating water service inventories, the…