Podcasts about dave is

2 - Rashida Talib broke down on the House floor as she defended the citizens of Gaza 210 - Your calls. 215 - Dom's Money Melody! 220 - Can anyone get the Money Melody? Your calls. 225 - What should the response be to rogue Town Councils who oppose Trump or overreach on their power? 235 - Who is the biggest local grocer? Is the answer shocking? Your calls. 240 - Chef Dave: Is it sauce or gravy? 250 - The Lightning Round!

12 - What is to be done about birthright citizenship? The SCOTUS debates with a Trump appointee. 1205 - Returning to the Whitemarsh 4th of July Parade cancellation. When will the meeting for this be held? Are plastic bags single use? Dom reminisces on a potential ban from years ago. 1210 - Where did this PA ban on handheld devices pop up from? 1215 - Side - something you're nostalgic for 1220 - Why is Dom on one side for the NJ gubernatorial race? Why is Bruce Springsteen talking about the Trump administration overseas at his concert? 1235 - Continuing with Bruce Springsteen's comments at his concert in England. How out of touch can a billionaire be? At what point are you too rich to lecture the public on life? 1240 - Your calls. 1250 - More on Springsteen. 1 - Montgomery County Commissioner Tom DiBello joins us as Montgomery County says they will not follow the lead of Bucks! Why express that sentiment? Is the language Bucks is using a work around for “sanctuary city”? Do you think if Montgomery County were to use the same language it would be the same? Why would Whitemarsh cancel their 4th of July Parade? 115 - Calley Means had an interesting quote regarding RFK Jr. and his leadership approach at HHS. 120 - Why can't the police union endorse Pat Dugan over Larry Krasner? How out of bounds is Larry Krasner. 130 - Your calls. A call spurs some interesting convo on Krasner. 145 - Is “Every Breath You Take” about a stalker? Ann Marie Muldoon joins us and expresses her displeasure with her musical favorite, Bruce Springsteen. 150 - Remember the drive-in? Your calls. 2 - Rashida Talib broke down on the House floor as she defended the citizens of Gaza. 210 - Your calls. 215 - Dom's Money Melody! 220 - Can anyone get the Money Melody? Your calls. 225 - What should the response be to rogue Town Councils who oppose Trump or overreach on their power? 235 - Who is the biggest local grocer? Is the answer shocking? Your calls. 240 - Chef Dave: Is it sauce or gravy? 250 - The Lightning Round!

Patrick explores deep, thought-provoking questions about God's nature, with listeners like Joe and John asking complex theological questions. He also shares heartfelt moments with callers seeking solace after tragic losses, reminding everyone of the power of prayer and community. Plus, he takes a nostalgic look back at past political efforts to streamline government efficiency, sparking lively debate. Katrina - Could God change the past so that a current addict never did drugs in the past so that person would never have become an addict? (00:56) Audio: 2011 - Obama announces a DOGE department and puts Joe Biden in charge of it (11:30) Dennis - Was God with my son right at the moment of his passing? (22:02) Dave - Is going to a Protestant men's group? What is my responsibility? (33:02) Robert - I also lost my older son. I always pray that the Lord came to him at his passing. (46:16)

In this episode of the IC-DISC Show, I sit down with Brian Schwam to discuss how Interest Charge Domestic International Sales Corporations (IC-DISCs) can help businesses save on taxes. With over 35 years of experience, Brian shares how IC-DISC has evolved since 1972 and why it remains a valuable tool for U.S. exporters. He explains how businesses, particularly in the aerospace industry's Maintenance, Repair, and Overhaul (MRO) sector, can take advantage of this incentive to improve their financial position. We walk through a hypothetical example to illustrate how an exporting business could benefit from IC-DISC. Brian explains how companies involved in manufacturing, repairing, or trading parts can qualify and why many eligible businesses overlook this opportunity. We also discuss the annual MRO conference in Atlanta, where industry professionals gather to share insights and best practices. This event highlights the ongoing impact of IC-DISC within the aerospace sector and beyond. Despite the clear benefits, many businesses hesitate to implement IC-DISC due to a lack of awareness or expertise. Brian talks about how our firm partners with CPA firms to integrate IC-DISCs into existing tax processes, making it easier for businesses to take advantage of these savings. He also highlights the underutilization of IC-DISC and why more companies should consider it as part of their tax strategy. We wrap up by discussing the upcoming MRO America's Conference in Atlanta, where exporting aviation maintenance companies can connect and learn more about IC-DISC applications. Whether you're new to IC-DISC or looking to refine your approach, this conversation provides useful insights for businesses considering this tax-saving opportunity.     SHOW HIGHLIGHTS In this episode, I discuss the intricacies and benefits of Interest Charge Domestic International Sales Corporations (IC-DISC) with tax attorney Brian Schwam, who has over 35 years of experience in the field. We explore the historical context of IC-DISC, including its origins in 1972 and the significant changes it underwent following international scrutiny and U.S. tax reforms, such as the 2003 Bush tax cuts and the 2017 Tax Cuts and Jobs Act. Brian provides insights into how IC-DISC can serve as a valuable tax incentive for U.S. exporters, particularly those in the aerospace industry's Maintenance, Repair, and Overhaul (MRO) sector. Through a detailed hypothetical example, we illustrate how companies can leverage IC-DISC to maximize export profits, highlighting specific benefits for pass-through entities and closely held C corporations. We address common apprehensions businesses face regarding IC-DISC implementation and discuss how collaboration with CPA firms can facilitate a seamless integration into existing tax processes. Despite the clear benefits, IC-DISC remains underutilized, and we emphasize the potential missed opportunities for businesses not taking advantage of this tax-saving strategy. The episode also covers upcoming industry events, such as the annual MRO conference in Atlanta and the ICDISC Alliance Conference, which offer valuable networking and professional growth opportunities.   Contact Details LinkedIn - Brian Schwam (https://www.linkedin.com/in/brian-schwam-b6026a3/) LINKSShow Notes Be a Guest About IC-DISC Alliance About WTP Advisors GUEST Brian SchwamAbout Brian TRANSCRIPT (AI transcript provided as supporting material and may contain errors) Dave: Hey, brian, welcome to the podcast. Brian: Thanks, dave, good to be here. Dave: So where on planet Earth are you calling in from today? It's hard to tell by looking at your background. Brian: Outer space. I am in the sunny South Florida. Dave: Okay. Brian: Breezy, south Florida, okay. Dave: Now are you a native of Florida. Brian: I am not a native of Florida. I spent 50 years of my life in the upper Midwest in Wisconsin. Okay, I had to move to Sunbelt. Dave: Okay, Now were you educated in the Midwest then too. Brian: I was. I'm a proud alum of the University of Wisconsin, both for an undergraduate degree in accounting and also my JD from the law school Okay. Dave: So you've and I take it and I've known you a while, so I think that's been several decades ago that your career was started. Is that about right? Brian: Several would be a good good approximation. Yes, I've been at this for 38 years. I know it doesn't look like it, right, okay? Dave: And so, and how long have you been involved in ICDISC? Then Most of that time 38 years, oh, 38 years in ICDISC. Then most of that time, 38 years, oh, 38 years in the disc, wow, yeah. So how does that do you know? Do you have any way to quantify that? Like how many you know ICDISC returns you've, you know, signed or reviewed or prepared, or Boy, it's a big number, dave. Brian: It's probably five figures. Okay, probably, so you know, somewhere north of 10,000 for sure. Okay, over that time period. Dave: Well, and that is why I'm glad that you are one of the founding members of the IC Disc Alliance with me that when I had a chance to partner up with you and some of your team when we created the IC Disc Alliance, I was really excited because in my book I pretty much knew all the players in the IC Disc space and once the famous Neil Block retired after 50 years to me you were without peer in the IC Disc space. Brian: So I really enjoyed collaborating with you through the years here in the ICDISC space, so I really enjoyed collaborating with you through the years. Dave: Thank, you for that, Dave. I hope to be able to follow Neil into that 50-year stratosphere. Yeah, that's big shoes to follow. So let's just talk a bit about the ICDISC. What the heck is it? Why does everyone use that silly acronym? Brian: Because what it really stands for is a mouthful. Dave: Okay. Brian: Discharged Domestic International Sales Corporation and that is what the ICDISC stands for, short right ICDISC. And I don't know if we'll get into. I'll get into what the IC stands for and everything. But basically this is an export incentive that's been in the Internal Revenue Code since 1972. Okay, in various forms. Initially it was an export incentive that just about any company could use, that was exporting goods that were manufactured, produced, grown or extracted in the US. It came under some fire from our trading partners and in 1984, it was transformed into the ICDISC. It started out just as the DISC in 1972 for the Boston International Sales Corporation and it, like I said, came under scrutiny. Our trading partners said hey, you're a, you can't have an exemption from income because you're not. You know you tax things differently in your country. This flies in the face of the other incentives you give your taxpayers. So they changed it into the ICDIS, which made it into, instead of a permanent tax savings, at least on its face, into a temporary savings where, to the extent a taxpayer saved tax and deferred income from tax, they were required to pay an interest charge to the IRS on that deferred tax. Hence the IC. Dave: Okay, okay. Brian: That rate changes every year. It's based on the one-year average TBLO rate as of September 30th annually. And at the same time they instituted something called the Foreign Sales Corporation, which was widely used by thousands of companies, and that came under attack and eventually became the extraterritorial income exclusion which was immediately attacked and eventually, a couple of years later, it just went away. In the meantime, the disk floundered for quite a number of years. In fact, in the year 2000 there were only 787 disks in existence. Dave: Wow, it seems like a shockingly small number. Brian: Well, the tax laws weren't real conducive to benefiting from the disk at that time. Then, in 2003, the Bush tax cuts brought in the concept of qualified dividend income and it took the disk off of life support and really put it on robust territory for pass-through entities, because they could now, to the extent that they could qualify and we'll get into that, to the extent they could qualify and to the extent that they could benefit it provided a 20% rate benefit between ordinary income and qualified dividend income, so it was a significant savings. Now that's been whittled away over time, where it's been reduced here and there. Various tax law changes and probably the largest or the next biggest reduction came in in 2017 with the Trump tax bill, the Tax Cuts and Jobs Act, which reduced the rate on qualified income on non-qualified income. So it reduced the rate on S-corp income partnership income in an individual's tax return to a 29.6% level, and so now the spread between the qualified dividend rate and the ordinary rate just isn't as great as it used to be. It's approaching 6%. So where it used to be 20, then it went to 15, and now it's 6. But it's still a permanent savings for these past three entities and it's not something that they should ignore, because it can save significant taxes, depending upon the level of export activity. Dave: Okay, and now to be clear, depending on a company-specific fact pattern, that spread could be greater. Right For a pass-through. It could be as high as what like? Brian: 13% or so For a pass-through it could be as high as what like, 13% or so For a pass-through business. Dave: It could be as high as 13.2%, okay, but in general we see that it and it could even be somewhere between that, depending on. Brian: Anywhere in between 5.8 and 13.2. Dave: And our experience has been that most companies tend to gravitate more toward the lower end of the savings than the higher end. Brian: Yes. Dave: Yes, okay. Now what about for a C-Corp? Brian: C-Corp is a different animal. Okay, a C-Corp can't use an disc to pay deductible dividends to its owners if it's a closely held C corp. This is not something that a public company can benefit from. But if a closely held business C corp is paying dividends to its shareholders and would like to be able to deduct those payments, rather than not being able to deduct those payments, using an ICDIS can transform the dividend into a deductible dividend. Now, it doesn't save the shareholders any tax, because they're paying tax on the dividend regardless of where it comes from, but it would eliminate the corporate level tax on the C corporation, so that benefit could be as high as 21%. Dave: Okay. Brian: Okay, another manner in which certain C corporations use the disc is to fund bonuses for shareholders and key employees, and then that saves the shareholders 17% tax the difference between a tax on a wage and a tax on a dividend, qualified dividend. So that's a 17% savings for the shareholder. In that case the C-Corp doesn't save any tax. They're getting a deduction either way wages or commission to the disk. And now that I've mentioned the word commission, that's probably a good segue into how does a disk earn income? Yeah, and what is its income? So most discs are what we call commission discs. They earn a commission when a operating business that's related to that disc makes an export sale of qualified export property. So let's dig down into that first. What's qualified export property? Well, that's property that has been manufactured, produced, grown or extracted in the US. So if I'm manufacturing in Mexico or Canada or China and I'm simply selling what I've made in those other countries, you know the disc is not something that's going to benefit that type of a business. Dave: Okay. Brian: It is there to spur US manufacturing, create US jobs, right in line with the America First proposition that's headlining Washington in 2025. Dave: Okay. Brian: So it should be on safe ground, everything that's going on there. So if a company has property that's been manufactured, produced, grown or extracted in the US and they sell it for export outside the United States and not to a US possession, then that sale can potentially generate an ICDIS commission that would be paid to the ICDIS. And keep in mind this ICDISC is not an entity that the outside world sees or understands or knows about. It's simply an entity that does business, if you will, internally with the operating company, so customers don't know about it. It's really transparent to the world. It's just there to help US exporters save tax. Dave: Okay, it's just there to help US exporters save tax. Okay, and the logistics of it. Like say a company has just for simple math, let's say they have $10 million of export, of qualified export revenue, and the ICDIS commission that's calculated to say 10% of that. Brian: Okay. Dave: So 10% of that would be a million dollars, and so walk me through kind of the that's correct and it accrues the deduction, assuming it's not a cash basis taxpayer. Brian: It accrues that deduction at the end of the year, the DISC accrues the income at the end of the year and then by statute the DISC does not pay income tax. So now we've gotten a deduction on one side, we have non-taxable income on the other side and then when the disc pays a dividend to its owners, that becomes a qualified dividend and is taxed at a lower rate. Dave: Okay, so then, effectively, that million dollars gets reclassified from being taxed at ordinary dividend rates to qualified dividend rates. Brian: From ordinary income rates to qualified dividend rates. Dave: yes, Yep, thank you for that. And where that shows up for a pass-through is going to be on the individual shareholders, k-1, right. That box up near the top that shows ordinary taxable income would basically go down. Let's say there was one shareholder, that number goes down by a million dollars. And then there's a box further down on the K-1 for qualified dividend income and that's where the number's being shifted to right. Brian: Right. Assuming the disc is owned by the operating company, which most of the time it is in the pass-through business context, then the ordinary income gets reduced on the K-1 and the dividend income will increase on the K-1, not necessarily in the same year, but that will be the result over time. Dave: And then that tax savings then will show up on the individual shareholders. 1040, right, because their ordinary income line is a million dollars less. The qualified dividend income line is a million dollars more, and that's where that arbitrage. Brian: They pay less tax if they're getting a distribution from the company to cover their taxes, which is often the case, the company doesn't have to distribute as much cash, therefore increasing the working capital of the business. Dave: Okay, well, thank you. Thank you for that. Now, what I want to drill down into a little more today is looking at the aerospace industry, specifically what's called the MRO space in aerospace. Do you know what MRO stands for? Brian: I believe, I do, I believe maintenance, repair and overhaul. Dave: That's my understanding as well. Brian: That's a significant area in the aviation space. Dave: yes, Okay, and I believe that there's a big conference in Atlanta in April with like something like 17,000 expected attendees. Brian: Yeah, just a small gathering. Dave: A small gathering. Brian: For sure. Yes, that's my understanding as well. In fact, I'll be there. Dave: Yeah, I believe we'll both be there, yeah we'll both be there A few of our colleagues. Brian: Yeah, so it's a one a year significant gathering of companies that operate in this MRO space, supporting airlines and other aviation companies, and basically MRO is important because it keeps planes able to fly. Yeah, and we actually have a booth there. Dave: Yeah, and we actually have a booth there. 1818 BC and it makes it sound like it's a date from a long time ago. But yeah, we'll be there and this will be our first year in attendance or exhibiting. And this has come from, in recent years, I'd say, a big ramp up in the number of MRO companies who we are helping with their IC disk. Is that right? Brian: Yeah, absolutely. In fact, one of the sponsors of the conference was a company I was doing some work with and I asked them if he thought it would be a good idea for us to attend, and it was a resounding absolutely that he thought that we could meet a lot of companies that could benefit from this ICDISC similar to his company. Dave: Okay. What are the elements in the MRO space or the characteristics of the companies that make them a good fit for the ICDISC, because my understanding is it's probably only one out of a hundred of like all the registered corporations in the US are really a fit for the disc. Brian: Yeah, so it takes a specific fact pattern to really benefit. So the companies in the service side of the business so let's say they're carpet cleaners or something to that nature they're not going to be able to benefit from the disk. But let's say it's a repair center and airlines will ship in parts to the repair center because they've worn out and they need it. They need a replacement part so that they can fly this plane. So what happens is maybe the repair center takes their part and repairs it, but they previously repaired another part that's identical and then to the customer and that plane gets back in the air right away. So in that scenario, even though it's a different part that's going back out versus what was coming in, that type of activity qualifies as long as what they're doing qualifies as manufacturing and that repair is occurring in the US. Dave: Okay. Brian: Then that type of a company could definitely benefit Other companies. I don't want to use this term, but it's kind of like horse trading. Sometimes companies will buy a surplus of parts, knowing that eventually they're going to be used by somebody and they hang on to these parts, or they find them from somebody who says I don't want these parts anymore, I haven't been able to sell them. So they take a flyer, they take a risk and they buy these parts and they hang on to them and maybe they sell them at a significant profit and maybe they don't. But there's that space as well that can benefit from the disc, and there's some misconception out there that some of the companies that are similar to what I just described can't benefit from a disc, and so, for example, if parts are obtained outside the US, they stay outside the US. They stay outside the US and they're repaired, recertified and resold. Those aren't going to qualify for the ICBITS. But sometimes parts are acquired outside the US and they're brought into the US, they're repaired, put it back into inventory in the US and then sold for export, and that activity does qualify for the ICs, and so it's very important to know where this refurbishment or remanufacturing is taking place. Dave: Okay and yeah, and there's a US content piece to it, right, like if they buy a part from China and all they do is they just put a little lubricant on it and throw it in a box. Brian: that may not qualify and then they export it. The test is what's the customer's value when that part comes into the US. So if it's a burned out hot engine part, for example, yeah there's no value or very little value and it comes into the US, its customers value is close to zero. It gets repaired, it's going to easily meet the content test and it's easily going to be considered manufactured in the US. It's rare, I think, that we'll find that somebody will buy a new part from outside the US just to inventory it here for export. Dave: Okay, yeah, because there's that it's a 50% US content test, right which? Is also, I think confusing on the surface if you don't really dive down into the rules, right, I mean, the layperson may find it. Brian: How do you know what's 50% US content? Well, the cost of good, I mean. Think of it the other way. The foreign content can't be more than 50%. And the foreign content is the cost, the customs value when it was imported. So if I'm selling something for $100, I imported it for as much as $49.99. That's going to qualify as long as I did something, you know, remanufactured it once it got to the US and once it got to the plus, more often than not, I think the value of those things coming in because they're used and worn and damaged parts, they're going to have a low customs valuation where there'll be no problem meeting that content. Dave: Okay, I can see that. Well, I find and my listeners tell me they really like kind of case studies, little mini of case studies, little mini, you know, client case studies On an anonymous basis. Do you have an example or two of some of the types of companies we've worked with, just to give people a flavor of them and, again, you know, being anonymous to you know? What company it is, but just a sense of like the sense of the size of the company, what the benefit might have been. Brian: The size is sort of across the board, right. So some of them are someone on the smaller side. They might have export sales between $5 and $10 million, and then some of them might have export sales of $100 million. It all depends on the size of their business and the benefits are kind of all over the map. Because we don't just do a simple calculation of the benefits. And the reason we don't is because in this industry what we find is there's a lot of margin variability in the companies that are exporting, and then a transaction-by-transaction analysis of the disk commission is what makes the most sense. That allows us to benefit from the margin variability, allows them to benefit from a higher disk commission and obviously then they're going to save more tax. And in some cases the commission grows by 10x by using the T by T. Sometimes it's two or three x, sometimes it's. You know, I've seen you know where it would have been zero because there was an overall loss in the company, but we were able to get a significant discommission with a T by T approach. So it's hard to pinpoint an exact number, but generally speaking it's 15 to 20, you know the commission ends up being 15 to 20% of sales. And if you look at the statutes, one of the statutes says oh, the commission can be 4% of sales, and another implies that it could be anywhere from 4% to 10%, but we generally see in this industry at least 15% on average. It's significantly higher. Dave: Yeah, and I'd like to drill down into that because I tell, and based on my understanding, we may manage more IC disks than any other organization of the country. I mean we I think our number is somewhere north of 500 companies now that we're helping out, and when I'm having these conversations, you know. So I'm, as you know, I'm more focused on the sales side. You know, and you and your team are more focused kind of on the technical aspect of producing these returns, and what I tell people is that our real value isn't being able to produce an IC disk return. Our value is the incremental benefit that the transaction by transaction calculation yields. That the transaction by transaction calculation yields. Because you know just about any any cpa firm you know most of them their software includes the ic disk return. You know, if they just go do a four percent calculation, it's a, you know, reasonably straightforward calculation. But we find that you know they're capturing only a fraction of the total benefit. Brian: That's true, and while I've seen a good number of interesting looking disc returns, I tend to agree that if you follow the directions, anybody can probably prepare a disc return. We do that as well. That's not where we add the most value. Where we add the most value, adding the value comes in unlocking the highest commission possible so that the tax savings are as great as possible. Yeah, and a lot of businesses that are high margin I'm sorry, low margin high volume businesses. When you look at the disc, on its face it looks like oh, there's not much benefit here, we're only making 2% or 3% of sales on our bottom line. So our disc commission would be 2% or 3% of sales. But, like I said, with the transactional approach, if the commission approach is 15%, well now we've taken the company into a tax loss which could potentially save additional taxes for the owners over and above that 5.8%, because now we're offsetting that loss against other income wages, interest, et cetera and being taxed just on the qualified dividend income of the disc. And so you can't just look at the overall margin or overall profitability of the company and project what that, what it's going to look like, Because they vary all over the place. Dave: Based on this transactional approach, yeah, and I would like to talk a bit about. Oftentimes, when I'm talking to a company that's considering a disk, oftentimes they've never even heard of it. Their CPA firm may not have even mentioned the idea. And they'll say, and they'll ask me hey, does this mean my CPA, you know, screwed up by not telling me about it. In my response, you know I try to be generous and I explain it that, look, you know, in our experience only about one out of 100 companies are a candidate. And so let's just say you have a large local CPA firm and they have 100, you know midsize corporate clients. Statistically we find that only one of them, you know, would be a fit for the disk. And your experience may be a little different, you know, feel free to correct me. And so when you think about it from the CPA's perspective, if there's a special part of the tax code and they only have one client that benefits, it's a difficult economic dynamic for the CPA firm to invest in a whole team and expertise to serve one client, right? Isn't that like part of the challenge that the and I know you've worked at a number of large CPA firms Is my understanding correct? That's part of the problem is just their clientele. There aren't enough of them. That makes it worth doing yeah. Brian: Yeah, I think that's a fair characterization. I might phrase it a little bit differently. I mean, there are thousands of CPA firms and they're all excellent generalists. This is not an area where you can be a generalist. Cpa firms often outsource R&D, tax credit work, cost segregation work. This, to me, falls right in that same category. You don't want to dabble in this, and if you're not sure what you're doing, you can get you and your client in trouble. Have good intentions, but if you don't execute it properly, it can be more of a headache than it's worth. And so, like most people, I think people gravitate towards what they know and understand, and things that they don't know and understand can look and sound scary. Dave: Yeah. Brian: So it's like, oh my God, an IC disc. I've never heard of that. I'm not sure I can bring that to my client because I don't really know what I'm doing. Well, I wish I knew somebody I could call to him. He's not a competitor right who could help me through this and help my client through this, and so that's really one of the reasons why we exist, because, as you stated, you don't want it to be a competitor that you call, and so, because we are so hyper focused on what we do and we don't do the things that I'll call the cpa's generalists, that the generalists do, we're an excellent partner because we're not looking to take away anybody's tax return or any of the other type of work that the CPA might be doing for that client. We just want to play in our space. Dave: Yeah, sometimes I'm sorry. Sometimes you know clients or potential clients will say, yeah, but you know our CPA firm does. You know all of our work. It's a one-stop shop thing and I'm afraid having you do the disc return and then doing the corporate return yeah, but our CPA firm does all of our work, it's a one-stop shop thing and I'm afraid having you do the disc return and then doing the corporate return it's just going to be a nightmare for you all to coordinate your efforts. It just sounds like too much trouble. What would your response be to that? Brian: My response is I work with over 500 companies. Generally we do the disk work for those companies. The regular mainstream CPA does everything else. We coordinate our work with that CPA and it's never a problem. We say, look, we're going to need X number of days to turn this around, so please have a draft of the operating company return by a particular date, and then they work towards that date. They give us the return, we get data from the company and we turn the number around so they can finish their tax return and then we go ahead and finish the disc return and I would say 99.9% of the time it works like we're all part of the same thing. Dave: Yeah, because really the CPA they prepare that final draft corporate return. They then pull two numbers from the disk return that goes into the corporate return and then they're done, basically right. Brian: And they're done and they can go ahead and finish up their disk return, I mean their operating company return and their state returns and everything. And then we just have to get the disc return done. And sometimes you know they file their tax return in april and you know the disc returns aren't due till september. So one might say, oh, you could just sit on them until september. But you know, we try to get them done at the same time. Sure sure Everybody can rest easy. But I mean we think of ourselves as a bolt-on resource to that CPA firm while we're working with that and we work with probably 50 to 75 CPA firms around the country in that role- yeah. It works well. I mean, you can talk to any one of them about what it's like to work with us, and I'm sure you'd get a glowing recommendation for how we work with them and for their clients. Dave: Yeah, no, I'm with you. So, as we're nearing the end here, the other thing that people find interesting you'd mentioned in 2003, there were 700 IC disks under 1,000. Yeah, 787. And then, according, if my recollection is correct, the most recent IRS stats that updated that were published, I think, in 2010. And I believe in 2010, there were like 2000 disks. Brian: Yeah, something like 1926. Okay, To be exact, and that number I'm sure has grown dramatically since then. I would guess there's somewhere between eight and 10,000 disks out there now. Okay, yeah. Dave: Yeah, now what's interesting? This is what people find interesting. I believe there's about 50 million business organization, you know business entities in the country, and so let's just assume that's the number, 50 million. Brian: I mean it's tens of millions. Dave: I'm certain of that. For some reason, I think it's 50 million. Does that sound reasonable? Brian: It does so let's think it's 50 million, does that? Dave: sound reasonable. It does. So let's say it's 50 million and on your average, you know we find around one out of a hundred. You know, maybe one out of 200 companies are fit for the disc. So if we run through the math, you know one percent of 50 million, I believe, is 500, 000. You know approximate companies that we think would benefit from a disc. Yet most recent stats, there's only 2000, you know, and maybe it's 4,000, 6,000, you know. Even, let's say it's 10,000 that exists now. So if you divide 10,000 by 500,000, what is that? Like 2%, I think, of the projected eligible company actually have a disc yeah, and people can't. They always are surprised by that and I usually tell them it might. And tell me if your numbers are consistent. I say about 100. One out of 100 benefit or could benefit. The ones who could benefit 90 percent of them have never heard of the disc, maybe 95%, and the 5% of the 1% who have heard of it, even once they hear about it, they usually haven't implemented it. Brian: Right. Then there's a percent that have implemented it. They're not getting out of it what they can. Dave: Right right. Brian: So it's so. There's a lot of missed opportunities by taxpayers and everyone's always trying to save some taxes. It helps fun, you know. It might help hire another employee might help, you know, if the savings are moderate and it's 50, 6070, 1000 of tax savings that still could pay for an employee to come work at the company. Why do? Dave: you think that utilization is so low? I mean because it'd be shocking if only 2% of the companies who did research and development took advantage of the RMD tax credit. Brian: I think it's just not well known. I mean it's very esoteric, it's been in the tax code for ages and ages and it just doesn't you. You know, there were so many years where it just wasn't relevant when you think that it's not something people think about. And then if you know, if you're a small exporter and you're exporting a half a million dollars a year a million dollars a year unfortunately it probably doesn't benefit you to have a disc and so maybe someone will look at it whether that size and they're like, oh yeah, it doesn't benefit you to have a disk and so maybe someone will look at it whether that size and they're like, oh yeah, it doesn't work. And then they grow and they forget that it might work once they've grown. So once a company hits about three million of export sales really should look at it again, because that's where it starts to have economic relevance that's where it starts to have economic relevance. Dave: Do you think some of it could be that? I mean, in general, public companies don't use disks, right? Brian: They just simply don't. Dave: Okay, and so I've found that oftentimes small to mid-sized privately held companies receive a lot of their sophisticated business knowledge from their Fortune 500 suppliers or clients. You know they'll hear from them about something and you know, like the payroll protection program during COVID, you know I suspect some of those might have heard about that from you know some of their large customers. Maybe that's not a good example, but you know that could be another reason. Right, there's just a dearth of knowledge that the CPAs aren't focused on it because the economics don't make sense. The large sophisticated public suppliers and clients don't use it, so they don't hear about it from them. Right, it's not really in the news, it's just. It just kind of flies below the radar screen, doesn't it? Brian: It definitely does, and that's certainly a reason why it's not as utilized as it probably could be. Dave: Yeah, and it seems like you know most of our, you know virtually all of our clients come as a referral from either an existing client or an advisor who we've worked with other clients you know, like a CPA or attorney or banker. So yeah, it's just a yeah, even though you know the podcast is called the Icy Disc Show. I don't get the sense that I'm ever going to. You know, reach Joe Rogan's audience size. It just seems to kind of fly below the radar screen. Brian: Yeah, and the potential audience is probably a little smaller than Joe's. Dave: Probably Well. So the last thing, the other thing people tell me they're surprised about the first year of the disk return. When they set up a disk is to get everything done. And we tell them the disk return's ready and they say, super good, and e-file it for me, like the CPA does the corporate and personal returns. And what is our response when they tell us to go e-file it for them? Brian: The response is unfortunately, the IRS doesn't provide for e-filing of disk returns and we'll need to send you a paper return. You're going to need to sign it and file it with the IRS and the unfortunate thing there is gosh, I don't know what percent of the time, but it's a growing percentage of the time the IRS loses the return Right and then sends a notice saying, hey, we never filed or whatever. And some of these disk returns are quite large. The fact that they because when you do the transaction by transaction analysis, there's a lot of paper that gets produced and filed and it's shocking to me that the IRS would lose those what they do. Dave: So it's interesting what they do. So it's interesting. I like to say that not only does the ICDISC fly under the radar screen of most everything, it even, in some ways, it's almost like it flies under the radar screen of the IRS itself. Brian: Yeah, and they put some things in place with regard to the ICDISC in 1984 and have never changed it. For example, if you're in the situation where you have to pay interest on deferred tax, which often occurs. First of all, a lot of times taxpayers don't realize it and they don't do it. Secondly, if they do it. It's so antiquated that the instructions to the form where you calculate the interest it says please staple a check to this form and mail it in. I mean, who does that in 2020, right? Nobody. People, businesses prefer to do things electronically to avoid checks being stolen, fraudulent activity, so on and so forth. But here the IRS is saying staple a check to this form and mail it to Kansas City, missouri. Dave: Yeah, and I guess it kind of makes sense that you know if there's only a few thousand of these disks in existence. In the same way, you can't expect the CPA firms to make it a heavy focus, I suppose even the IRS. You know there's a hundred other tax incentives or a thousand other tax incentives that are more highly utilized that you know they maybe are spending their time on. Brian: Yeah, as I like to say, the people at the IRS that understood the disc were working there in the 70s and 80s, OK, and they're long retired. Yeah, and they're long retired. There's really not a lot of bodies at the IRS that understand the DISC and certainly when you're doing a transaction by transaction study and calculating the commission on each individual transaction, there's nobody there that understands that. Dave: Nobody Well, and it's kind of the same thing outside the IRS, right? Nobody Well, and it's kind of the same thing outside the IRS, right? I mean I have this joke that nobody makes partner at a big four firm being the IC disk expert. Oh, that's true, so it even especially nowadays. Yeah, and so it seems like like the average age of IC disks experts is about the same as the average age of the average Fortran computer language programmer. It just seems like you know new people are not coming into the disk and there's just a dearth of knowledge all around. Brian: Right, right. And I myself learned COBOL, which is a choice between Fortran and COBOL, when I was in business school, both equally non-usable. Dave: Is it part of that? Because since the disk came on in 1972, it seems like since 1973, people have been talking about the IC disk going away. So is that maybe part of it? People think, well, why should I learn something if it's going away? Brian: Maybe part of it. People think, well, why should I learn something if it's going away? There's always been a fear that it's either going to go away or that there's a technical correction coming that the disk dividend is not a qualified dividend. But the bottom line is politically, I just don't see that happening. Dave: It stands for too many things that are positive for the US Job creation export sales for too many things that are positive for the US Job creation, export sales, us companies being more competitive in the global market. Brian: So it doesn't really lend itself to be repealed. What can be repealed are some of the tax rates. Some of the tax rates can change and that can change the benefits of the disc. The concept of the disc itself and what it stands for really is very consistent with our country. Dave: Yeah, wow, I can't believe how the time has flown by, brian. Is there anything else that you want to mention about the IC disc or the MRO industry? Brian: No, I can't think of anything specifically other than I'm looking forward to being there and meeting many of the attendees and other exhibitors that are there and spending some time with you and our colleagues in Atlanta. Dave: Yeah, it will be fun. So it's the ICDISC Alliance. If you want to look us up on the website for the conference or stop by 1818BC. We also have a LinkedIn page for the ICDISC Alliance, and so I'd love to meet with any of you who are going to be at the conference. Awesome, well, thank you very much for your time, Brian. This has been really useful. Brian: You're welcome. You're very welcome. Special Guest: Brian Schwam.

As we begin a new year, cartoonists Dave Kellett and Brad Guigar make their predictions for 2025 and share their goals for the next twelve months.PredictionsDAVE: Business planning anxietyBRAD: Because of Dave's prediction, the winners will be people who help address that anxiety. (That's us!) Be the distraction/escape people need; they won't forget you. DAVE: Bluesky at 50M by the end of the yearBRAD: Substack gains prominence — rises to Kickstarter/Patreon levelsDAVE: we'll all be playing reactionary, whack-a-mole life choices for the first two years of the trump admin. Until the midterm elections, when it might calm slightly. BRAD: AI will go mainstream and start to gain acceptance among artists and writersDAVE: Kickstarter and Patreon continue to be market leaders. No change on the horizon for thatBRAD: Printing is on the decline under tariffs. And we might be working with small US printers to do smaller books.DAVE: in publishing, YA & kids will continue to dominate the career path of published cartoonists. BRAD: Non-social media options will grow, hopefully including RSSDAVE: Webtoons might begin to fall apart in the US market. Their Hollywood goals are not working, and they were playing the long game toward THAT in terms of accumulating debt DAVE: I will have to raise prices on all my books. Or cut features in my books. No more metallic foils, spot gloss, or bookmarks…you're just getting a bare-bones book. GoalsBRAD: SurviveDAVE: SurviveBRAD: EiAD v3 or Webcomics HandbookDAVE: ANATOMY OF DOGS Kickstarter BRAD: Build Spice Rack Comics into an example of what you can do with the webring / collective concept. Suggest that this is the time to start building quasi-collectives.DAVE: Triple down on Bluesky in the 4-6 years before enshittification BRAD: Lean into KDP for After Dark booksDAVE: Triple down on BlueskyDAVE: Launch and start building THE WRONG WAY. I have been planning it for over a year. DAVE: Focus on one of the few things I can control: my family's happiness and health. Outlive the fuckers and try not to let them steal my joy. I find solace in friendships at Alaska Camp and SDCC. DAVE: if we can't do books, do we do more smaller Quickstarter?DAVE: Is this the time to start on Substack?SummaryIn this episode, the hosts discuss a range of topics, including a personal quest for a long-lost book, Wimpy the Wellington, predictions for the comic industry in 2025, the anxiety surrounding business planning for cartoonists, and the evolving role of cartoonists in providing relief during turbulent times. They also explore the rise of new platforms like Blue Sky and Substack and the potential mainstream acceptance of AI in the creative fields. In this conversation, Brad Guigar and his co-host discuss the evolving role of AI in creative processes, emphasizing its potential as an assistant rather than a replacement for artists and writers.They make predictions for 2025, including the impact of tariffs on print publishing, the continued dominance of YA and kids' books, and the uncertain future of Webtoons in the U.S. market. The discussion also touches on the concept of 'shrinkflation' in publishing, where features may be reduced due to economic pressures.Ultimately, both hosts express a shared goal of survival in a changing industry landscape. In this episode, the hosts discuss their goals and predictions for 2025, focusing on the importance of social media platforms like Blue Sky, the launch of a new project called The Wrong Way, and the innovative approach of Spice Rack Comics. They also touch on adapting to market changes, personal goals, and the significance of community support in the creative industry.TakeawaysCartoonists have a significant impact on their audience's mental health.Business planning in the comic industry is becoming increasingly complex.The rise of platforms like Blue Sky may change social media dynamics.Substack is poised to become a major player in content monetization.Anxiety will be a common theme in the coming years for creators.AI's acceptance in the creative industry is on the horizon.The importance of community and support among creators is paramount.Predictions for the future can help guide current decisions.The role of humor and distraction in art is vital during tough times. AI will be used as a writing assistant, not a replacement.Ethically sourced AI can enhance creative processes.Print publishing is expected to contract significantly due to tariffs.YA and kids' books will continue to dominate the market.Webtoons may struggle in the U.S. market moving forward.Shrinkflation will affect the features of published books.Survival is the primary goal for creators in 2025.Economic changes will force a reevaluation of publishing strategies.The creative industry must adapt to new market dynamics.The future of comics relies on navigating these challenges. Tripling down on Blue Sky is a strategic move for growth.The Wrong Way project is set to launch in 2025.Spice Rack Comics aims to innovate web rings and promote collaboration.Adapting to market changes is crucial for sustainability.Personal goals should focus on what can be controlled.Community support is essential for success in creative fields.Digital income sources are becoming increasingly important.Maintaining joy and personal happiness is a priority.Nostalgia can be a refuge during uncertain times.Building a supportive network can enhance creative endeavors. You get great rewards when you join the ComicLab Community on Patreon$2 — Early access to episodes$5 — Submit a question for possible use on the show AND get the exclusive ProTips podcast. Plus $2-tier rewards.Brad Guigar is the creator of Evil Inc and the author of The Webcomics Handbook. Dave Kellett is the creator of Sheldon and Drive.

Hi everyone, Dave IS back!!! Please join me, Jorianne The Coffee Psychic, Trance Channeler and Psychic Medium along with my wonderful guest Astrologer Dave Gunning. on JANUARY 2ND 2025we will be talking about your chart and how things that impacts your love life!!!. Please call in for any questions you would like to ask either Dave or Jorianne. Call 1-347-633-9404 or go to www.BlogTalkRadio.com/JorianneTheCoffeePsychic to join us streamed live tonight... Thursday JANUARY 2ND, 2025 at 8:00 PM CST. ALSO REMEMBER YOU AN CALL IN FOR A FREE QUESTION Remember every 1st and 3rd Thursday of each month I am doing ONE FREE QUESTION for each caller who calls in. Please keep in mind the phone lines fill up quickly so in order to be courteous to each caller, please ask your question clearly and once. I will answer each question by using my famous method of coffee reading by pouring the cream in the coffee for each person, and please remember that I have many other callers who also have a burning question , so I have to limit each caller to 3-4 minute intervals. 1-219-940-9292 to book your very own personal reading or host your own PSYCHIC HOUSE PARTY! CALL 219-940-9292 or you can text me at 708-805-1128 or coffeepsychic@aol.com or check me out at WWW.CoffeePsychic.com To contact Dave for astrology chart, go to Astrogunning@gmail.com.

Hi everyone, Dave IS back!!! Please join me, Jorianne The Coffee Psychic , Trance Channeler and Psychic Medium along with my wonderful guest Astrologer Dave Gunning. We will be talking about WHAT HAPPENS WHEN URANIS GOES INTO GEMINI AND HOW THAT CAN IMPACT YOU! Please call in for any questions you would like to ask either Dave or Jorianne. Call 1-347-644-9404 or go to www.BlogTalkRadio.com/JorianneTheCoffeePsychic to join us streamed live tonight... Thursday August 29th, 2024 at 8:00 PM CST. ALSO REMEMBER YOU AN CALL IN FOR A FREE QUESTION Remember every 1st and 3rd Thursday of each month I am doing ONE FREE QUESTION for each caller who calls in. Please keep in mind the phone lines fill up quickly so in order to be courteous to each caller, please ask your question clearly and once. I will answer each question by using my famous method of coffee reading by pouring the cream in the coffee for each person, and please remember that I have many other callers who also have a burning question , so I have to limit each caller to 3-4 minute intervals. 1-219-940-9292 to book your very own personal reading or host your own PSYCHIC HOUSE PARTY! CALL 219-940-9292 or check me out at WWW.CoffeePsychic.com To contact Dave for astrology chart, go to Astrogunning@gmail.com

Hi everyone, Dave IS back!!! Please join me, Jorianne The Coffee Psychic , Trance Channeler and Psychic Medium along with my wonderful guest Astrologer Dave Gunning. We will be talking about Mars and Venus in your chart and how that impacts your love life!!!. Please call in for any questions you would like to ask either Dave or Jorianne. Call 1-347-633-9404 or go to www.BlogTalkRadio.com/JorianneTheCoffeePsychic to join us streamed live tonight... Thursday July 25th, 2024 at 8:00 PM CST. ALSO REMEMBER YOU AN CALL IN FOR A FREE QUESTION Remember every 1st and 3rd Thursday of each month I am doing ONE FREE QUESTION for each caller who calls in. Please keep in mind the phone lines fill up quickly so in order to be courteous to each caller, please ask your question clearly and once. I will answer each question by using my famous method of coffee reading by pouring the cream in the coffee for each person, and please remember that I have many other callers who also have a burning question , so I have to limit each caller to 3-4 minute intervals. 1-219-940-9292 to book your very own personal reading or host your own PSYCHIC HOUSE PARTY! CALL 219-940-9292 or check me out at WWW.CoffeePsychic.com To contact Dave for astrology chart, go to Astrogunning@gmail.com

Hi everyone, Dave IS back!!! Please join me, Jorianne The Coffee Psychic, Trance Channeler and Psychic Medium along with my wonderful guest Astrologer Dave Gunning. We will be talking about PLUTO GOING INTO AQUARIUS. Please call in for any questions you would like to ask either Dave or Jorianne. Call 1-347-633-9404 or go to www.BlogTalkRadio.com/JorianneTheCoffeePsychic to join us streamed live tonight... Thursday JUNE 29th, 2024 at 8:00 PM CST.        

Hi everyone, Dave IS back!!! Please join me, Jorianne The Coffee Psychic, Trance Channeler and Psychic Medium along with my wonderful guest Astrologer Dave Gunning. We will be talking about PLUTO GOING INTO AQUARIUS. Please call in for any questions you would like to ask either Dave or Jorianne. Call 1-347-633-9404 or go to www.BlogTalkRadio.com/JorianneTheCoffeePsychic to join us streamed live tonight... Thursday JUNE 29th, 2024 at 8:00 PM CST.        

In today's episode of the IC-DISC show, Eric Miller from the Export-Import Bank of the United States (EX-IM) provides valuable insights into how this 90-year-old institution supports American exporters through strategic financial services. I also learned that EX-IM is one of just two governmental agencies that is an actual profit center. ​ Before joining EX-IM, Eric worked for a privately-held exporter that was a customer of EX-IM. His expertise both inside and outside of EX-IM sheds light on crucial products like export credit insurance, export financing, and financing for foreign buyers. These solutions can alleviate common hurdles inhibiting international trade growth. ​ We also talk through some real-world examples of these various EXIM solutions. This is a must-listen episode for any company doing substantial direct exports.   SHOW HIGHLIGHTS Eric Miller from the Export-Import Bank of the United States (Ex-Im Bank) discusses the role of the bank in aiding exporting companies with financial services, operating without costing taxpayers. We delve into how Ex-Im Bank and the Small Business Administration (SBA) offer loan guarantees and insurance to boost companies' borrowing capacity. Eric shares insights into export credit insurance and how Ex-Im Bank's products can help resolve common financial challenges in international transactions. The discussion covers Ex-Im Bank's new domestic project finance product, designed to support projects that have a significant export component. We touch on the requirement for a U.S. majority in product content, aiming to foster manufacturing and job growth in the United States. Eric explains the importance of services, like engineering and architectural services for foreign projects, requiring a U.S. majority for cost. We discuss government resources that can aid businesses in exporting, such as tax incentives and the Gold Key service provided by the U.S. Commercial Services. The episode highlights the STEP grant, a federal program managed by states to support companies with export-related expenses. Eric and I settle the Tex-Mex vs. BBQ debate with an appreciation for both, adding a lighthearted twist to the episode. Contact information for Eric Miller is shared for listeners who wish to connect and further explore export financing options. Contact Details Email (eric.miller@xmexim.gov) Phone Number (713-306-7969) LINKSShow Notes Be a Guest About IC-DISC Alliance About Export-Import Bank of the United States GUEST Eric MillerAbout Eric TRANSCRIPT (AI transcript provided as supporting material and may contain errors) Dave: Hi, this is David Spray. Welcome to another episode of the IC Disc Show. My guest today is Eric Miller of the Export-Import Bank of the United States, colloquially known by the acronym of XM. More useful takeaways for privately held exporting companies than any guest I've ever had. We talked about the history of the XM, its purpose and the four service offerings that they have for privately held exporting businesses. We also talked about three other governmental arms that can also be of value. The other interesting thing about Eric is he actually was a customer of XM early in his career when he was a minority owner of an exporting business. So Eric's a really dynamic guy. He's really passionate about serving exporting companies and he really understands what it's like to be in the shoes of their customers. I really recommend you take a listen to this one. It's really valuable hey good morning Eric. Welcome to the podcast. Eric: Thank you, Dave. It's a pleasure to be here. It's an honor. Thank you. Dave: Well, the pleasure is all mine. So where are you connecting from today? What part of the world are you in at the moment? Eric: The great state of Texas. I'm in the Houston area, born and raised in Texas and been all over the world, but this is home. Oh, that's awesome. Dave: In fact, I think you even stayed close for college, right. Eric: I did. I'm a Cougar alumni, so a proud Houston native. Dave: Awesome, so I'm really excited to have you on. You are with the Export Import Bank of the United States, correct? Correct so we also go by XM Bank, sorry. Eric: Yep. Dave: So tell me about XM, tell me about the kind of the history of the organization and why it exists, and then we'll get it. We'll see where the conversation goes. Eric: Yeah, no, it's a good question. I'm biased, of course, working here, but I think it's one of the most fascinating government agencies that exist. We're set up in the executive branch of the federal government. We've been around for 90 years. Most people haven't heard of us. We are small. We've got anywhere between 400 and 500 people as a part of the agency. Most are headquartered in Washington DC, but we do have a dozen regional offices scattered throughout the US and all the major cities. I cover the Houston office and in doing so, I work with exporters in the great state of Texas and help them export more US made products and services. That's really what we're about here at XM Bank is supporting our US companies that are exporting a US made good or service. We're on the finance side of that help. There's other government agencies. Throughout the whole process of a transaction, whether it's finding buyers, whether it's financing a transaction or even getting grant money to help you export. There's other support, but EXIM is specific on the finance piece. Dave: Okay, and so does EXIM. At the end of the day, you know, does this cost taxpayers, you know, billions of dollars to have this thing in place. Eric: Yeah, that's another good question. So you know, we're one of the few agencies historically that have actually built a surplus of money for the taxpayer. In other words, we're using less than we're making and we send money back to Treasury. It changes year to year, but historically, if you look over the past you the past 20, 30 years we're generating a surplus and sending that back to treasury, so costing taxpayers billions of dollars. No, we like to operate a little differently than a government agency. We are an independent government agency, which means we're not inside a cabinet, but we are set up in the executive branch and we like to say we run at the speed of business Internally, we're very efficient, we're very effective and we're very aggressive, trying to reach out to US companies and get them involved in helping them. Dave: Well, that is awesome. I think it sounds like just a win, right. It's a win for the taxpayers. It's actually a profit center, if you will, for the taxpayers. It's good for the exporters, it's good for the country. Am I correct? I think the only other government agency I've ever heard of that's a profit center is like the Patent and Trademark Office. Have you heard that too? Eric: I think you're right. Now, I haven't researched that myself, just in passing and conversations I've heard of the same and there might be one or two others out there. But yeah, it's an unusual feat of a government agency to kind of generate that surplus for a taxpayer and send it back to Treasury. We do charge, you know, fees and that's how the agency itself makes and brings in money. We charge fees for our different products and you know we have products like export credit insurance. To just kind of dive into what we do, yeah, let's do that In export credit insurance to just kind of dive into what we do yeah let's do that In export credit insurance. So let me take a couple steps back. When an exporter engages in international business, when they find a foreign buyer in a country and they say, hey, here's what I sell, whether it's a product or service, there's always a sticking point. If you will product or service, there's always a sticking point if you will in the negotiations, when it comes to money flow. And what I mean by that is the exporter will say, hey, I'll ship my product or I'll do the service, but go ahead and wire me money before I ship it. And then the importer, the buyer there's always a reluctance to say well, I don't want to wire you money, because what if you close your doors? I never hear from you again. So when there's a new relationship and there's a transaction that's trying to occur, money, the movement of money, is always a sticking point. Who sends it first? And exporters lose a lot of deals because of this. I speak to exporters on a daily basis and every week there's at least one that says I wish I would have known about this. It would have helped me with the last negotiation I had with a foreign buyer who said you know, ship me the product on open account and I'll pay you 60 days later. I wasn't comfortable with that as an exporter so I closed the door and lost the deal. So XM gets involved and we say no, go ahead. And you know, if they're asking for credit terms, go ahead and provide that to them and we will back you up on the payment. We will insure that receivable from default. So if something goes wrong and the foreign buyer doesn't pay back the exporter as intended, we will insure it. They put a claim into us. So when I say claim, just like any other insurance policy, right, you're driving a car and you get to an accident, you file a claim. Something goes wrong with the house, you file a claim with the home insurance provider. We're no different. We're an insurance provider on foreign receivables and the government gets involved in this space because you know, david, look at the trade deficit. Last year we're nearing a trillion dollars. Most years, from year to year in the last 10 years, it's getting worse and worse. So what I mean by that is we're bringing in way more than we're sending out, and what we have found through our research as a government agency is the number one reason more US companies are not sending more product abroad is the number one reason is fear. They are fearful of what that process looks like and the government gets involved. Then we say let's take away that fear. We'll put the risk on our shoulders as it relates to credit insurance. Go ahead and give your foreign buyer terms or open account. We'll shoulder the risk and if they don't pay you, we'll pay you. And we want to help the trade deficit. We want to as a government agency. We want to stimulate US manufacturing. We want to create jobs through exports. That's really what the mission is here at Ex-Im Bank. Dave: Okay, yeah, no, that's really good. And do you specifically underwrite each customer? You know each foreign customer, or is there just you guys? Just use some general parameters. Eric: Yeah, no, it's a good question, like what does that process look like? So we have four different credit insurance policies. We can do everything from hey, we'll underwrite every buyer if you're not comfortable with it. Or hey, we'll give you a policy where you can do your own underwriting according to our credit standards but give you that autonomy inside your company to do it without coming to us every time there's a buyer. So there's different approaches. Most exporters like the autonomy because they can approve a credit right then and there, rather than sending us the paperwork and then us process it and then get back to them. So it just depends on timeline. But yeah, we can do either. Dave: And does the policy insure 100% of the invoice or is there a co-insurance piece where your customer is taking some of the risk? Eric: So the coverage will be anywhere from 90 or 95%, depending on which policy. Most of them are in that 95% range, but some of them are in the 90. Okay, they have the option. Dave: Yeah. So it's enough that as long as the company's got decent margins right, if their margin's greater than 5% or 10%, then their risk is just if a deal goes bad. They didn't make any money on that deal. Eric: That's a fair way of looking at it? Dave: Yep, but they have enough skin in the game that they do want to make a profit on that transaction. They want to all that trouble. So they have a motivation to not, you know, sell to people who you know they have serious concerns about their ethics or integrity or ability to pay. Eric: Exactly, and that's really what it's all about. Hey, I've got a new relationship and you know, name a country. They're asking for open account. And open account, you know, most people are comfortable with that in the US. They have a recourse in mind. Hey, if I don't pay, here's the process where I can recoup. But that all goes away when you send it to a foreign country. Like you know, how do I even get my money if I don't? I'm dealing with a different legal environment, political currency, culture, I mean. The list goes on and on. So that's where, wherein lies the fear for the exporter. And there's government agencies, both local, state and federal, all of them. We want to surround the exporter, prop them up, take away the fear, shoulder the risk and get them comfortable in international business. Dave: Okay, so you may mention the one person you were talking to that said they wish they'd known about XM because they kind of lost this deal. Do you have another case study, if you will, or example and obviously you don't have to mention the specific company by name where everything did work out kind of a success story, where maybe they were not exporting much but with this credit insurance it really helped them materially increase their sales? Do you have any examples like that, just to help people further understand? Eric: Oh yeah, we have a whole list of resources on our website. There's a section dedicated to success stories of all the different companies and we like to diversify the industry and the product and we've got you name it and it's probably up there. One that just immediately comes to mind is a company and they've been kind of a strong advocate of Ex-Im Bank. They're called BuzzBalls and it's alcohol manufactured here in Texas in the Dallas area, and they were very successful domestically. I mean, you can find these little alcohol glasses basically in any kind of retail store in the US. But as they looked abroad they wanted to de-risk a lot of their open account with distributors and really I think the last I heard they either doubled or tripled the revenue by focusing on foreign buyers, distributing it to the distributors, the foreign distributors giving them credit to pay and Ex-Im Bank insuring the risk. I mean, it's just one interesting example that you know, if little cups of alcohol can move abroad, mostly anything can. Dave: Oh, that's great, I love that and thank you for that. Thank you for that example. So now let's say that a company is contemplating exporting and let's say they have this large potential order you know large for them, you say it's a $5 million company annual revenues and suddenly they have this pay for the materials from their supplier and they maybe don't have enough working capital to do that and maybe they're in a spot where you know a traditional bank loan or line of credit. They're maybe, just maybe what you'd call not bankable. What happens then? Does the whole process just fall apart? You know they've got the credit insurance but they don't have the cash to buy the goods. What happens then? Eric: Yeah, that's really the second big problem in international trade. So the US banking system in general is challenging to help US companies fill export orders, and what I mean by that is, in your example, a $5 million revenue company. It can even be bigger than that, it could be 20, 30, 40. The problem with a lot of US companies is when their foreign sales start to get significant and they go to the bank and say, hey, I need a line of credit, not just for my domestic business, I need it for my international too. There becomes a problem in the banking system. There's this view that it's high risk and, as bankers tend to be more conservative and shy away from risk, so most times US companies have problems getting the money they need to fill these export purchase orders. So government gets involved, Ex-Im gets involved and SBA also has a product similar to the Ex-Im bank. It varies according to the banker who wants to use the product, but the idea behind it is we become a guarantor of repayment to the lender. So in your example, $5 million a year company, $2 million foreign sale that we're going to insure they walk that over to the bank and they say, hey, I got insurance on the receivable. Great, it's a $2 million deal. Now I need a million bucks or whatever as a line of credit to build all this stuff or go out and buy it. The bank will say, okay, where's it going? Oh, it's leaving the country. I can't help you. But when you come back with a US purchase order, then we can get serious in our talks. The company is stranded and they can't get the money, the capital they need to fill these orders with working capital. So we get involved and we say, hey, if they're presenting financial statements and the financial statements merit the ability to borrow what they're asking for a million, whatever it is and you're only saying no because it's an export, go ahead and give them the money that they need that they're asking for again, as long as it meets the credit standards, and we'll co-sign, we become a repayment guarantor to that line of credit so they can have access to the money that they need to fill these foreign buyer purchase orders. Guarantees and insurance is really kind of what we're about here at Ex-Im Bank to enable this cross-border trade. On the finance piece, Now, with that line of credit that we guarantee, they could also use it to issue bid bonds or performance bonds or standby letters of credit. Because another problem in our banking system is when a exporter bids on a foreign tender, that tender sometimes will say hey, if you want to bid on this, you got to put up a performance bond or a bid bond and that kind of weeds out the non-serious suppliers versus the serious. And when they want to supply that bid bond and they go to the bank, put the equivalent amount of cash in your account, I'll escrow it and then issue the bond. And then the exporter you know has this confused look. And well, I don't want to pay for my own deal and block my own cash. So under the XM line of credit you can actually use borrowed money to issue those bid bonds, performance bonds, standby LCs at a reduced cash collateral, so you're not tying up your cash. Dave: Interesting. Eric: And what's the? Dave: typical I think the term like if you're factoring an invoice, it's called. I think it's called like the advance rate, like what percentage you could borrow, like on the you know the purchase order or the invoice that you create. What's that percentage? You know, through the XM financing. Eric: So we put it into two categories pre-export and post-export. Okay, pre-export is the working capital right, the inventory, work in process, finished goods. So under that you could borrow a 75% advance rate. Then post-export, once it becomes a receivable, you could borrow 90. So it's pretty generous advance rates and typically it helps exporters fill these purchase orders much easier if we weren't involved. Dave: Yeah, Cause I think I was a CFO of a company many years ago and we were growing rapidly and we're using factoring and the. It seems like the advance rate we were able to get on the factoring for domestic sales, let alone international, was only like 70 or 80%. So, and even I think I'm told that even if a company has a line of credit that they're backing with inventory and domestic receivables, that still a typical kind of advance rate is really only like I think, about 80. And so you're talking about an even higher, if I'm using the correct term, than what a traditional bank would provide to a traditional bankable customer for a domestic sale. Is that accurate, based on your knowledge? Eric: Yeah, very accurate. And sometimes you know I go back to the example of US banks don't like export orders, and they don't. Sometimes they will give an advantage. They've got a traditional line of credit set up for domestic. They may say we'll let you borrow 10, 20, 30% advance rate on the export stuff. With our guarantee we can expand that to 75, up to 90. So it could be that we expand the borrowing base or just let alone get them access to it for export orders, with our guarantee. Dave: Okay, yeah, this is really valuable and I can't wait to get the word out to our contacts. So, on the working capital piece so how does that work then? Is the process that they call up their bank and say, hey, do you guys do anything with XM and they just work purely through their banker? Or do they call you up and say, hey, we need some working capital? We don't really have a big banking relationship. Can you recommend somebody? Help me understand the logistics? Eric: of it, Absolutely. Yeah, it's a good question. We recommend starting with us. It's very easy to get lost in the banking system and trying to figure out who to talk to about getting the setup. A lot of time exporters will speak to their local relationship manager and they start talking about XM working capital and they're like you know who's XM? I don't, I don't even know what you're talking about. Slow down, so it's more efficient to start with us and if they're working with a bank that is in our lender network, we can go directly to the right person and connect them with the exporter to have those conversations. If they're working with a lender that is not inside our our network, we can still locate a lender to set up kind of a XM specific line of credit if that's something they want to pursue. Dave: Okay. Eric: Okay. Dave: Now this is really valuable. Does the bank have any other service lines besides the foreign receivables insurance and the working capital? Eric: We've got a couple others. One of them is called foreign buyer finance. Okay, this is a real interesting one. This is when a US company is selling capital equipment to a foreign buyer and when that capital equipment quotation gets to the foreign buyer, what we see often is they'll go to their bank. In some of these emerging markets, developing countries, the buyer will go to the bank and say, ok, you know, I got a quotation for, let's say, you know, john Deere equipment, ag equipment or Caterpillar, construction equipment or mining equipment, whatever. They go to their bank and they say I need to borrow to pay the US company for the equipment. And when they get a term sheet from their local bank, if you're familiar with international business and international finance, the cost can be much higher than what we're used to paying in the US as far as cost of capital Cost of capital I've seen even triple and quadruple in some of these developing markets. And then the buyer the deal falls to the wayside because the buyer can't afford to pay the bank all this cost associated with the capital. So in situations like that and kind of high cost capital markets, we can get involved and find a lender, as long as we've got good audited financial statements and they meet credit standards, we can find a lender to give that foreign buyer a term loan, a three to seven year term loan, of which we guarantee repayment of to the lender, to buy that US made capital equipment. So, in simple terms, we can finance a foreign buyer when the foreign buyer is buying US made equipment, and what we have found is the US companies that really know this product inside and out use that as a competitive advantage. They're saying, hey, sure, on one hand, here's my quotation for the equipment and on the other hand, I can get you finance if you need it. And I can get you finance if you need it. And the companies that do that well, I mean their sales shoot through the roof because now they become this finance facilitator for foreign buyers to access cheaper capital, which we've even seen companies where maybe they're 10% higher on the bid than some of the other countries, but they're saving them 15% on the finance. Dave: Yeah, I can see that. Yeah, I can see that that's really clever. I was familiar with the first two pieces, but I really was not familiar with that. I mean, yeah, that's a real competitive advantage. I mean it makes you wonder how a company in I don't know pick your country, brazil, that you know is trying to compete Like how do they compete when they can't? I'm guessing that they probably don't have the same type of capability to offer you know these, you know more attractive financing rates. Eric: So, yeah, that's a great point XM Bank we're also referred as an export credit agency, eca. So every developed country in the world has the equivalent of us. Out of, let's say, roughly 200 countries, there's 120 of us representing the nation of each country. So what we know is, as it relates to international business, there are, you know, foreign. When there's foreign competition in the tender, sometimes that foreign competition knows about their local ECA also. Right, so they could be offering the same thing. Hey, I can get you, you know, finance through my local ECA. You know name, a country, country. So we want companies in the US to be aware of how we can help them and support them, just like other member countries of partner ECAs do, because it's a competitive advantage and if they're not aware of it, it's a loss really for the exporter. And I mentioned four products. So we went over export credit insurance, the working capital getting the foreign buyer a loan, and then the fourth one. It came out about a year and a half ago. It's a new product that we're super excited about and it's really domestic project finance where there's an export nexus. And what I mean by that, david, is let's take an industry, let's take LNG. When an LNG liquid natural gas. When liquid natural gas projects in wherever let's call it Texas, when they go live and you've got a solid entity set up for the purpose of building an LNG plant maybe there's corporate shareholders, maybe there's individual shareholders, whatever it may be when banks take a look at this and they see that it's a domestic project finance structure meaning the off of any kind of contract will repay the loan Bankers don't like that. Bankers don't like project finance. If we look at a project where there's an export nexus and what we define as an export nexus is 25% of the sales will be exported we could potentially be a lender or a loan guarantor to that domestic project as long as there's going to be 25% foreign sales, and we could go down to 15% if it's a small business, so we can involve oh, that's really cool. Dave: Yeah, because I mentioned the bank is going to say, yeah, it sounds like a great opportunity. Go find some investors to fund this and then, once you start exporting the LNG, give us a call. We'll give you some working capital and you'll work with XM to ensure the receivables, but until then, hey, it's on you. Eric: That's it. That's the problem. That's where a lot of these projects get stuck in the banking system as it relates to traditional banking. They can't get the money they need to lift this project up, and it could be a great project, but yeah, banks like to see history right. I want to see your balance sheet income statement, cash flow last three years. Let me underwrite it Well, there is none. It's a new project and we're building it. Well, we can't help you Go find some investors, and that's typically the conversations. So, instead of these deals disappearing, as long as there is solid offtake agreements, we can look at that, potentially to repay the loan, and we do that on the foreign buyer side too. Dave: Yeah, and to be fair to the bankers I know many bankers and have great relationships If a bank is paying 5% for a deposit and they're lending it out at, say, 8%, by the time they pay their fees and stuff they really don't have a lot of margin left. So you know they have an imputed default rate. You know that they can tolerate of like half a percent, right, maybe 1%, right. I mean, that's just their model. Eric: Margins are thin, you're right. Dave: Yeah, and they're probably even I'm guessing even prohibited from saying okay, yeah, we'll finance this deal for you, but this is high risk. So instead of a 7% loan, it's gonna be 30%. I mean, the banks probably aren't even allowed to do. There's probably usury laws or something. Am I correct in that? Eric: Yeah, yeah. So they would definitely view the risk differently as a domestic project finance. But I would say, even more so, the regulatory issues involving domestic project finance probably prohibit the lenders from doing that. Dave: Even oh yeah, yeah, that's right. I never thought about that. Eric: There's definitely some challenges in that space. I never thought about that. There's definitely some challenges in that space. Dave: Yeah, that makes sense because really, from a holistic perspective, you would say hey, bank, this isn't your sweet spot. This is like venture capital, risk capital. Let them find a lender, like a hard asset lender, that'll charge a much higher rate, or let them raise equity capital to finance this. This isn't what you're designed for, mr First National Bank, Exactly. Eric: Okay. Dave: What are some of the limits, minimum maximums for these different products? Let's start with the credit insurance. Is there a minimum size that you all have insurance? Is there a minimum size like that you all have? I mean, I'm guessing if somebody has a hundred dollar foreign receivable that they want to insure, probably doesn't really make sense for everybody. So is there a minimum size? Is it a hard minimum or kind of a soft minimum? Eric: Yeah, that's a great question. So we don't have a minimum per se, documented minimum, but yeah, it's got to make sense right To go through the process. So I mean, we've insured receivables as low as a couple thousand bucks, so that's for credit insurance. For working capital we also don't have a minimum, but that's set by the lender. So we say hey, as long as the lender will do the loan, we'll take a look at the guarantee and most lenders that we have spoken to we probably would say that the minimum with most lenders is around a half a million for a working capital line of credit. And then on the foreign buyer side, again it's got to make sense to the lender. We don't have a minimum. Most lenders, I would say the minimum I've seen where a US lender would give a loan to a foreign buyer is also around a half a million. Maximum, no maximum, but anything above 25 million has to go to our board. The largest we did in the bank's history was in Mozambique, for an LNG facility was 5 billion. Oh wow. Dave: And then are there limits on the working capital and credit insurance, similar limits that require board approval. Eric: Anything above 25. Yep, it's the same 25 number, correct, which it's. You know it's not prohibitive, it just adds another layer to the process. Yeah. Dave: And even again, even if XM wasn't involved, I know a lot of banks, just you know, when loans get above a certain amount they want to syndicate them with other banks, just for their own risk. And I think a lot of times those syndication amounts for a medium-sized bank will start in that 10 to $25 million, as I understand it. And then what about the domestic projects that have 25% export expectations, any minimum or maximums there that you've seen? Eric: So I would say there's no hard set minimum, but the soft minimum I'm seeing is probably 5 million plus and the reason for that is the SBA, the Small Business Administration, also a federal government agency. They have similar products that go up to five, so this will take it past five and we don't want to compete with another government agency. They have similar products that go up to five, so this will take it past five and we don't want to compete with another government agency, so it's five below. Sba might be a better fit. Five above we're probably the only game in town. Okay, zero to five, taking some notes on this Five plus. Dave: You know, one of the other interesting things is we've had this conversation that if you think people have never heard of XM, they're even, I think, less likely to have heard of the ICDISC program. You know we specialize and what's interesting is how is the number of parallels? I mean, the thing that I can't, you know that blows me away is how logical everything is with XM. Like you know, there's a, you know there's a perhaps a belief that some government programs, agencies that there's no real logic to it. It was just it was some negotiation in Congress and they had just some arbitrary rules. But you know, as I kind of look at these, they just all seems very logical, right? And you know, like you know, above a certain amount you need board approval Again, just like in a bank, right, when they're doing a $25 million loan, it's probably got to go to a loan review committee or something. But the other thing is there's some similarities between XM and the ICDISC and one of them is the 51% US content. Can you explain how that works with XM, because I think it's pretty much the same as ICDISC. Eric: To my knowledge it is also yeah. So it goes back to really the mission right Creating jobs through US exports, and we want to stimulate US manufacturing. So we can't support a trade where you know Houston companies buying from China and sending it down to you know name a country in South America. There's no value add for the country. So Congress basically put a policy to the agency that says anything that we support has to be greater than 50% US content. So another way of saying it's just 51%. Right, majority of the product has to be US content, and the way that we calculate that is we look at the cost. So if they're selling a widget that they sell for $100, but it costs $70, we're going to look at the $70 and say $30 of that, 70 needs to be US content. So that's really we look at the cost and the majority of the cost needs to be US made, whether it's product. Dave: Or another way of saying it is no more than $36 foreign cost Yep, that makes sense. Eric: And if it's a service, by the way, sometimes we get these service questions, by the way, because sometimes we get these service questions where, hey, you know, I'm an engineering company designing, you know, a refinery plant for a foreign buyer. How do I look at that as far as US content? So what we do is we say, okay, start with your invoice. Right, whatever you're billing out, if it says engineering services or CAD drawings or whatever, take that and then look at the cost and greater than 50% needs to be US citizens or green card holders as part of that cost for services. So we basically look at the citizenship of the provider for evaluating US content and the cost. Dave: Yeah, and that's somewhat similar to the ICDISC really only includes two types of services that are eligible engineering services and architectural services for foreign construction projects or services that are an integral part of the sale. You know, like if you sell a product for a million dollars and there's a $200,000 installation service, as long as that's an integral part of the, you know the project that qualifies, you know that service does. But yeah, that's interesting. So let's say somebody says hey, you know, eric, I really like the sound of this and I'd like to talk to you. But you know, I just feel like you know, you're probably a lifelong government employee. You probably want to work right out of college. You don't know what it's like to sit in my shoes. You don't know what it's like to have been on the private side. You know having these foreign customers. What would you say to them? Eric: Yeah, so being a government employee is new to me also, yeah, so after college I started at a company and worked there for a decade, grew into sweat equity. I was a part minority shareholder and I was a customer of Ex-Im Bank for 10 years. Yeah, we were a company that exported capital equipment all over the world, but with a concentration in Sub-Saharan Africa. Okay, and we grew rapidly with the help of Ex-Im Bank. We used all the products of credit insurance, the working capital, getting the foreign buyer a loan and that really became a competitive advantage to the company. Because we looked at ourselves saying, hey, we're an equipment supplier, but so is the other hundreds of companies around, if not thousands of companies. How do we make ourselves different? And the finance became very important to that conversation, because you can Google, search equipment companies in the US and you're going through thousands of pages trying to find an equipment supplier. But not everybody is saying, hey, we have financial solutions too. If you need them, we can get you a loan. We can sell to you an open account with our insurance. We can get the capital we need to fill these export purchase orders. We can get the line of credit that we need to send bid bonds and performance bonds to some of these large tenders. So, going back to your question, I've been at Exxon for seven years, but the majority of my career was in the private sector and being a minority shareholder of a company that used the bank that I work for now to grow a small business. Dave: What a great story, like it would seem like you have the perfect background for your role I mean, you're actually a customer for your role. I mean you're actually a customer. So the private companies that you're trying to help you really do understand what it's like to be in their shoes. Eric: I think most employees that work here at ExxonMobil found we're very service oriented. We like to help. We like to help. It's fun for us to help. It's fun for me to help. The best part of my day is meeting small business exporters, helping them become aware of all the resources that are available to them to become more competitive and grow, like we did when I was with that company. Dave: Yeah, it's just amazing how similar our days are. That's also the favorite part of my job is when I get a phone call from somebody and they say hey, you know, bob said I should call you. You know we're. Our exports have really grown a lot, and there's this thing called ICDISC and you know, tell us about it, are we the right fit? And it's great to be able to help them. Oh, I was just going to ask you something. Oh, what about indirect exports? Do they qualify under an indirect export? Eric: Great question, yeah, so under the working capital it does. So if you have an exporter that's selling to you know name a major company, let's say a major oil and gas company who in turn is exporting that out, we call that an indirect export. That does qualify them to get the capital they need to fill that order. Dave: Yep, Another parallel with the IC disk. The IC disk is the same way. Yeah, Most of our clients are actually indirect exporters. So some of the products would not be as beneficial, you know, like the credit insurance, for example, because they don't have any foreign receivables. But you know, they don't have any foreign receivables, but they still may have use for some of the other products. Okay, so I've got just a couple more questions. Eric: Well, first off, is there anything we didn't cover that you wish I had? I would say there's other government resources that every exporter should know. Dave: Okay, what are those? Eric: Yeah, so one of them is the US Commercial Services. They're a part of the Department of Commerce and they've got an office in every major city in the US. I think there's a hundred, if I remember right, a hundred US Commercial Service offices scattered throughout the US. If you're in Houston, there's one in Houston. Great folks, we work with them closely. They've got some really good products as well for exporters. One of them is called the Gold Key, and the Gold Key it basically connects buyer and seller. So once the agency understands the company, they met with them. They understand the company, they understand what they're selling. They have to be what's called export ready. So an existing business that's already selling, let's say they're successful here domestically and they want to export. You know, let's say that to the, to our closest neighbors, first Canada and Mexico. But they're like hey, I don't, how do I even do that? How do I find a buyer, how do I find a distributor in these countries? That's really the first step in kind of the. The maze of exporting is first you got, you have to have a buyer. We're kind of second to that right. Once you have a buyer, then it's money talks and then we get involved. But even before us. The commercial services can get involved and under the gold key they can find distributors, partners, buyers in foreign markets. Wow, yeah, under the gold key. So they basically, once they understand the business, they work with the embassy in that country and say, hey, I've got, you know, bob, here's his company, been around for 10 years, successful in the U? S, but they want to start with Mexico. And can you find them buyers, can you find them distributors? And they try to play matchmaker. So they generate a list and they recommend going to the country that you want to export to shake hands, stare them in the face, sit down with them physically, because that's another important thing in international business you can't just stay behind the phone or email. You really have to go to these places. Dave: Wow, so that's amazing. Now the bad news, Eric, is you and XM may have just dropped to number two as far as my favorite government agency. I mean, depending on where a company is, that might be even more valuable, right? Because without the customers, they don't even need the other products of XM. That's really cruel. Eric: That's right yeah. I mean they need a buyer before they come to XM. They need a foreign buyer and commercial services can help with that. Dave: So be careful. You're about to list some other agencies and may further knock you down on the priority list, so be careful there. Eric: That's OK, we're here to help. So you know. Another problem with small businesses you know I'm selling domestically. You know successful I'm selling domestically. You know I'm successful. Maybe I'm running on thin margins. I don't have the capital that I need to go into all these countries and spend all this money and cross my fingers that I get business. And I just don't want to spend that kind of money and risk that kind of money because I need to keep my lights on and pay employees first. So there's something called the STEP grant S-T-E-P grant. Dave: STEP grant. Eric: It stands for statewide trade export promotion, so most states participate in it. It's federal money given to the states who in turn give grant money to companies who are looking to export, and they can use that grant money for travel you know, hotel, stay, airfare. They want to do website translation on their website from you know English to Mandarin and Spanish to. You know capture half the world. They want to. You know create design, create print flyers. You know any kind of marketing collateral that will aid them in promoting their company to foreign buyers. This is a reimbursable grant, which means you apply for it. You can say, hey, I want to go to Mexico, my airfare is going to cost this, my hotel is going to cost this, conference in Mexico is going to cost this, and all together it's going to be $10,000. So you apply for it and then, once approved, you can get up to 75% of that back. Dave: So you have to actually spend the money. Eric: First you got to spend. That's the key thing there. You got to spend the money, but you got to get it approved. Once it's approved, then you spend the money and then you come back and give them your receipts. Dave: Wow, that's pretty cool. Does that fall under one of the federal agencies? Is that kind of the ultimate umbrella, or is it really more of a state by state program? Eric: In Texas the Department of Ag is administering the fund and I think it does vary state by state on who holds the money and approves it and disperses the money, and I may be wrong, but I think it goes up to $10,000. It's either $7,500 or $10,000 max amount that can be approved. Okay, you can apply every year. Some companies do that. Okay, and what else? Are there some other? The SBA, small Business Administration Sure, most people know them for domestic business, but they also have an export arm called the OIT, which is Office of International Trade. So they have export finance products just like we do. They're not competitive to one another. They're slightly different in various aspects. They can get you working capital, usually for smaller loans, or they can get you something called an international trade loan and what that is used for is like, hey, I need to buy some capital equipment to go into my factory and it's going to cost a million bucks and it's going to generate export sales, that kind of finance structure. Dave: Is the structure kind of the same, or does the borrower have to put up a bigger percentage? Or do you know? Eric: For the international trade loan. I think it's similar. They guarantee the lender just like we guarantee the lender. The international trade loan I think it's similar. They guarantee the lender just like we guarantee the lender and lenders. You know, we like to say the lender makes the decision because our guarantees are slightly different than one another. So some lenders will say, hey, I'm more comfortable with XM, or hey, I'm more comfortable with the SBA, or hey, this is above $5 million. The only one you could do is XM Bank. So it's really up to the lender to evaluate the guarantee and what fits them best. Dave: Well, that is awesome. Any other government agencies that you tend to work with regularly those are the big ones. Eric: They'll always be in the same circles the SBA, the commercial services, and ourselves in the same circles, promoting as much as we can to our communities. Dave: That's awesome. Well, this has been so informative. I really appreciate the time. I just have two more questions, and they're really kind of fun ones, okay. So the first one is if you could go back in time and give advice to yourself, like right, when you were graduating college, what advice might you give to yourself? You know, with the benefit of hindsight, you know, if you kind of go back in time. Eric: What advice might you? Dave: give to yourself. You know, with the benefit of hindsight, you know if you kind of go back in time what advice might you give to yourself, you know? Things to do instead, or do sooner, or what comes to mind. Eric: That's a really good question, you know, going back in time, I would say, for the company that I worked for and some of the things that I don't like to say did wrong. But if we could repeat it and how we would do it differently. When the business grows and we grew fast our operational costs also grew fast and I think if we were better controlling the operational cost when there was a dip in revenue, there wouldn't be so much growing pains or slowing pains. I think getting a better grasp operationally on a business when it's going through the growth phase is key to its long-term success, because a business is not always going to accelerate up. There's going to be peaks and valleys and as long as you manage the operational cost of the company, it can get through. You know look at COVID right Nobody predicted that how many businesses went through all kinds of painful experiences. So that, going back in time, just from a business standpoint, I think that would have been super helpful in our judgment and assessment of looking towards the future. Dave: Okay, I really like that. Well, we just have one left, and this one's even more fun. Don't think about this, I just want. It's kind of a snap answer. Okay, so you're a native Texan, right Native Houstonian, tex-mex or barbecue. Eric: Oh, I got to go with Tex-Mex. I love barbecue, barbecue. Oh, I gotta go with tex-mex. I love barbecue, but you know the chips and queso and salsa and guacamole. Dave: I don't think everything competes with that. Yeah, I, I asked this question of all my guests and and I had two answers that were interesting. One answer was if it's, if I know that the food is going to be average, I, I absolutely would take the Tex-Mex, because Tex-Mex has more tolerance for averageness. Ok, they said. But if it's going to be world class, then they would take the barbecue. But they don't want mediocre, tough, dried out brisket. Ok, so I'm like, well, that's a good one. And then I had a guest telling me about I forget the name of the place, but it was a place that had like brisket tacos or brisket enchiladas, and they basically said both, they'll take both. Eric: There you go. I like that. Dave: Yeah, I am with you. If people want to get ahold of you, what's the best way to reach out? I know you're on LinkedIn. Are you very active on LinkedIn? Eric: Not super active on LinkedIn, but I'm very accessible Cell phone, email, office phone. You can always get ahold of me. Dave: What's the email address? Eric: So ericmiller M-I-L--LE-R X-M-E-X-I-Mgov gov. Dave: So eric.miller@xmexim.gov and if they want to just call you, what's the best number to reach you? Eric: at 713-306-7969 awesome. Dave: well, thank you so much for taking the time to come on here. This may be the most information dense episode I've ever done for an exporter. Usually it seems like we've got one or two good nuggets, but we may have a dozen takeaways, so thank you so much for making time out of your day and this has really been fun. And don't be surprised when this goes live if you don't have a few folks reaching out to you. Eric: I look forward to it. Thanks for having me. It's been an honor. Special Guest: Eric Miller.

Hi everyone, Dave IS back!!! Please join me, Jorianne The Coffee Psychic , Trance Channeler and Psychic Medium along with my wonderful guest Astrologer Dave Gunning. We will be talking about how you pick the time of yiour chart Please call in for any questions you would like to ask either Dave or Jorianne. Call 1-347-644-9404 or go to www.BlogTalkRadio.com/JorianneTheCoffeePsychic to join us streamed live tonight... Thursdaymarch 7th  at 8:00 PM CST. ALSO REMEMBER YOU AN CALL IN FOR A FREE QUESTION Remember every 1st and 3rd Thursday of each month I am doing ONE FREE QUESTION for each caller who calls in. Please keep in mind the phone lines fill up quickly so in order to be courteous to each caller, please ask your question clearly and once. I will answer each question by using my famous method of coffee reading by pouring the cream in the coffee for each person, and please remember that I have many other callers who also have a burning question , so I have to limit each caller to 3-4 minute intervals. 1-219-940-9292 to book your very own personal reading or host your own PSYCHIC HOUSE PARTY! CALL 219-940-9292 or check me out at WWW.CoffeePsychic.com To contact Dave for astrology chart, go to Astrogunning@gmail.com

Hi everyone, Dave IS back!!! Please join me, Jorianne The Coffee Psychic , Trance Channeler and Psychic Medium along with my wonderful guest Astrologer Dave Gunning. We will be talking about how you pick the time of yiour chart Please call in for any questions you would like to ask either Dave or Jorianne. Call 1-347-644-9404 or go to www.BlogTalkRadio.com/JorianneTheCoffeePsychic to join us streamed live tonight... Thursdaymarch 7th  at 8:00 PM CST. ALSO REMEMBER YOU AN CALL IN FOR A FREE QUESTION Remember every 1st and 3rd Thursday of each month I am doing ONE FREE QUESTION for each caller who calls in. Please keep in mind the phone lines fill up quickly so in order to be courteous to each caller, please ask your question clearly and once. I will answer each question by using my famous method of coffee reading by pouring the cream in the coffee for each person, and please remember that I have many other callers who also have a burning question , so I have to limit each caller to 3-4 minute intervals. 1-219-940-9292 to book your very own personal reading or host your own PSYCHIC HOUSE PARTY! CALL 219-940-9292 or check me out at WWW.CoffeePsychic.com To contact Dave for astrology chart, go to Astrogunning@gmail.com

Hi everyone, Dave IS back!!! Please join me, Jorianne The Coffee Psychic , Trance Channeler and Psychic Medium along with my wonderful guest Astrologer Dave Gunning. We will be talking about HOW THE PLANET SATURN IS RELATED TO SECURITY IN ASTROLOGY. Please call in for any questions you would like to ask either Dave or Jorianne. Call 1-347-644-9404 or go to www.BlogTalkRadio.com/JorianneTheCoffeePsychic to join us streamed live tonight... Thursday December 14th, 2023 at 8:00 PM CST. ALSO REMEMBER YOU AN CALL IN FOR A FREE QUESTION Remember every 1st and 3rd Thursday of each month I am doing ONE FREE QUESTION for each caller who calls in. Please keep in mind the phone lines fill up quickly so in order to be courteous to each caller, please ask your question clearly and once. I will answer each question by using my famous method of coffee reading by pouring the cream in the coffee for each person, and please remember that I have many other callers who also have a burning question , so I have to limit each caller to 3-4 minute intervals. 1-219-940-9292 to book your very own personal reading or host your own PSYCHIC HOUSE PARTY! CALL 219-940-9292 or check me out at WWW.CoffeePsychic.com To contact Dave for astrology chart, go to Astrogunning@gmail.com

Hi everyone, Dave IS back!!! Please join me, Jorianne The Coffee Psychic , Trance Channeler and Psychic Medium along with my wonderful guest Astrologer Dave Gunning. We will be talking about Jupiter conjunct Uranus. Please call in for any questions you would like to ask either Dave or Jorianne. Call 1-347-644-9404 or go to www.BlogTalkRadio.com/JorianneTheCoffeePsychic to join us streamed live tonight... Thursday NOVERBER 9th, 2023 at 8:00 PM CST. ALSO REMEMBER YOU AN CALL IN FOR A FREE QUESTION Remember every 1st and 3rd Thursday of each month I am doing ONE FREE QUESTION for each caller who calls in. Please keep in mind the phone lines fill up quickly so in order to be courteous to each caller, please ask your question clearly and once. I will answer each question by using my famous method of coffee reading by pouring the cream in the coffee for each person, and please remember that I have many other callers who also have a burning question , so I have to limit each caller to 3-4 minute intervals. 1-219-940-9292 to book your very own personal reading or host your own PSYCHIC HOUSE PARTY! CALL 219-940-9292 or check me out at WWW.CoffeePsychic.com To contact Dave for astrology chart, go to Astrogunning@gmail.com

Hi everyone, Dave IS back!!! Please join me, Jorianne The Coffee Psychic , Trance Channeler and Psychic Medium along with my wonderful guest Astrologer Dave Gunning. We will be talking about THE MEANINGS OF THE PLANETS IN  ASTROLOGY. Please call in for any questions you would like to ask either Dave or Jorianne. Call 1-347-644-9404 or go to www.BlogTalkRadio.com/JorianneTheCoffeePsychic to join us streamed live tonight... Thursday September 28th, 2023 at 8:00 PM CST. ALSO REMEMBER YOU AN CALL IN FOR A FREE QUESTION Remember every 1st and 3rd Thursday of each month I am doing ONE FREE QUESTION for each caller who calls in. Please keep in mind the phone lines fill up quickly so in order to be courteous to each caller, please ask your question clearly and once. I will answer each question by using my famous method of coffee reading by pouring the cream in the coffee for each person, and please remember that I have many other callers who also have a burning question , so I have to limit each caller to 3-4 minute intervals. 1-219-940-9292 to book your very own personal reading or host your own PSYCHIC HOUSE PARTY! CALL 219-940-9292 or check me out at WWW.CoffeePsychic.com To contact Dave for astrology chart, go to Astrogunning@gmail.com  

Hi everyone, Dave IS back!!! Please join me, Jorianne The Coffee Psychic , Trance Channeler and Psychic Medium along with my wonderful guest Astrologer Dave Gunning. We will be talking about the smoke in the air and ANYTHING ASTROLOGY. Please call in for any questions you would like to ask either Dave or Jorianne. Call 1-347-644-9404 or go to www.BlogTalkRadio.com/JorianneTheCoffeePsychic to join us streamed live tonight... Thursday June 29th, 2023 at 8:00 PM CST. ALSO REMEMBER YOU AN CALL IN FOR A FREE QUESTION Remember every 1st and 3rd Thursday of each month I am doing ONE FREE QUESTION for each caller who calls in. Please keep in mind the phone lines fill up quickly so in order to be courteous to each caller, please ask your question clearly and once. I will answer each question by using my famous method of coffee reading by pouring the cream in the coffee for each person, and please remember that I have many other callers who also have a burning question , so I have to limit each caller to 3-4 minute intervals. 1-219-940-9292 to book your very own personal reading or host your own PSYCHIC HOUSE PARTY! CALL 219-940-9292 or check me out at WWW.CoffeePsychic.com To contact Dave for astrology chart, go to Astrogunning@sbcglobal.net

Hi everyone, Dave IS back!!! Please join me, Jorianne The Coffee Psychic , Trance Channeler and Psychic Medium along with my wonderful guest Astrologer Dave Gunning. We will be talking about ANYTHING ASTROLOGY. Please call in for any questions you would like to ask either Dave or Jorianne. Call 1-347-644-9404 or go to www.BlogTalkRadio.com/JorianneTheCoffeePsychic to join us streamed live tonight... Thursday April 27th, 2023 at 8:00 PM CST. ALSO REMEMBER YOU AN CALL IN FOR A FREE QUESTION Remember every 1st and 3rd Thursday of each month I am doing ONE FREE QUESTION for each caller who calls in. Please keep in mind the phone lines fill up quickly so in order to be courteous to each caller, please ask your question clearly and once. I will answer each question by using my famous method of coffee reading by pouring the cream in the coffee for each person, and please remember that I have many other callers who also have a burning question , so I have to limit each caller to 3-4 minute intervals. 1-219-940-9292 to book your very own personal reading or host your own PSYCHIC HOUSE PARTY! CALL 219-940-9292 or check me out at WWW.CoffeePsychic.com To contact Dave for astrology chart, go to Astrogunning@sbcglobal.net

Hi everyone, Dave IS back!!! Please join me, Jorianne The Coffee Psychic , Trance Channeler and Psychic Medium along with my wonderful guest Astrologer Dave Gunning. We will be talking about PLUTO GOING AQUARIUS AND SATURN GOING INTO PIECES. Please call in for any questions you would like to ask either Dave or Jorianne. Call 1-347-644-9404 or go to www.BlogTalkRadio.com/JorianneTheCoffeePsychic to join us streamed live tonight... Thursday FEBRUARY 23rd, 2023 at 8:00 PM CST. ALSO REMEMBER YOU AN CALL IN FOR A FREE QUESTION Remember every 1st and 3rd Thursday of each month I am doing ONE FREE QUESTION for each caller who calls in. Please keep in mind the phone lines fill up quickly so in order to be courteous to each caller, please ask your question clearly and once. I will answer each question by using my famous method of coffee reading by pouring the cream in the coffee for each person, and please remember that I have many other callers who also have a burning question , so I have to limit each caller to 3-4 minute intervals. 1-219-940-9292 to book your very own personal reading or host your own PSYCHIC HOUSE PARTY! CALL 219-940-9292 or check me out at WWW.CoffeePsychic.com To contact Dave for astrology chart, go to Astrogunning@sbcglobal.net

Well, another show without Dave, Is the show even worth listening to when Dave Is not on? Tune in to find out!! Michigan Mashup and Knows Picks tonight.

This sesh I'm smoking Citrus Skunk from Green Seal at 24% THC, the perfect sativa, in my opinion. Since I'm introducing you to “Kong” my new triple perk, triple chamber, 19” bong. It had to be a strong sativa, or words would have been difficult. The joint today is a pre-roll called Laughing Gas by Cookies, a Hybrid at 23% THC. It lived up to it's name for sure. I definitely got the giggles. With a little help from a Weed-A-Rita and of course Kong! The Wee-A-Rita... A concoction 5 months in the making. The total ammount of THC in this hillbilly coctail is 500 mg. With all the booze flowing and puffing going on (we may or may not have started the dube fest earlier in the day), I only got through a glass. Man did that pint pack a punch. At certain times I couln't contain the giggles and got emotional. I had a very special guest on the show as well. He's been mentioned in previous seshisodes and I finally got him on to tell us some stories and rip on blog posts with me. Dave IS here maaan! I finally got my buddy Dave on the podcast. Did it go off the rails and turn goofy? Definitely. We had a good time though, and even if none of this made any sense it was fun as hell. It was a good hang and a great smoke sesh. Hopefully the fun and the vibe comes through strong on this. This weeks weed facts are a list of “30 stoner thoughts” - as always they start off on the up side of strong then fall off in a lazy marijuana induced haze. Either way it was fun to watch dave rip on some of these like a grandpa scoleding a couple teenagers. Dude for Real! Dave brought his own fact to throw out on the show. Then we got into a list of 50 amazing facts. Some were surprising, some were rediculous, but they were all entertaining. This is the longest sesh yet it was a blast to record hopefully it's as much fun to watch. Enjoy the Sesh! Guest Host - My Buddy Dave! The Weed-A-Rita (ingrediants) - 6 Versus Key Lime Seltzer's - 60 mg - 4 Sweet Justice Pacific Island Punch - 40 mg - 2 Favour Shots Berry Mixer - 20 mg - 2 Bottles of Five founders THC Oil - 60mg - 1 Package of Electric Lemon Edison Jolts - 100 mg - 1 Package of Indiva Life Lozenges - 250 mg Total THC - 500 mg Visit Tots420.com for more content #comedy #podcast #cannabis #education #entertainment #funny #canadian #tots420 #thoughtsoffthestem #indiepodcast #comedypodcast #canadiancannabis

Hi everyone, Dave IS back!!! Please join me, Jorianne “The Coffee Psychic”, Trance Channeler and Psychic Medium along with my wonderful guest Astrologer Dave Gunning. We will be talking about DECANATES IN ASTROLOGY. Please call in for any questions you would like to ask either Dave or Jorianne. Call 1-347-644-9404 or go to www.BlogTalkRadio.com/JorianneTheCoffeePsychic to join us streamed live tonight... Thursday November 17th, 2022 at 8:00 PM CST. ALSO REMEMBER YOU AN CALL IN FOR A FREE QUESTION Remember every 1st and 3rd Thursday of each month I am doing ONE FREE QUESTION for each caller who calls in. Please keep in mind the phone lines fill up quickly so in order to be courteous to each caller, please ask your question clearly and once. I will answer each question by using my famous method of coffee reading by pouring the cream in the coffee for each person, and please remember that I have many other callers who also have a burning question, so I have to limit each caller to 3-4 minute intervals. 1-219-940-9292 to book your very own personal reading or host your own PSYCHIC HOUSE PARTY! CALL 219-940-9292 or check me out at WWW.CoffeePsychic.com. To contact Dave for astrology chart, go to Astrogunning@sbcglobal.net

Hi everyone, Dave IS back!!! Please join me, Jorianne The Coffee Psychic , Trance Channeler and Psychic Medium along with my wonderful guest Astrologer Dave Gunning. We will be talking about ANYTHING ASTROLOGY. Please call in for any questions you would like to ask either Dave or Jorianne. Call 1-347-644-9404 or go to www.BlogTalkRadio.com/JorianneTheCoffeePsychic to join us streamed live tonight... Thursday September 29th, 2022 at 8:00 PM CST. ALSO REMEMBER YOU AN CALL IN FOR A FREE QUESTION Remember every 1st and 3rd Thursday of each month I am doing ONE FREE QUESTION for each caller who calls in. Please keep in mind the phone lines fill up quickly so in order to be courteous to each caller, please ask your question clearly and once. I will answer each question by using my famous method of coffee reading by pouring the cream in the coffee for each person, and please remember that I have many other callers who also have a burning question , so I have to limit each caller to 3-4 minute intervals. 1-219-940-9292 to book your very own personal reading or host your own PSYCHIC HOUSE PARTY! CALL 219-940-9292 or check me out at WWW.CoffeePsychic.com To contact Dave for astrology chart, go to Astrogunning@sbcglobal.net

Hi everyone, Dave IS back!!! Please join me, Jorianne The Coffee Psychic , Trance Channeler and Psychic Medium along with my wonderful guest Astrologer Dave Gunning. We will be talking about ANYTHING ASTROLOGY. Please call in for any questions you would like to ask either Dave or Jorianne. Call 1-347-644-9404 or go to www.BlogTalkRadio.com/JorianneTheCoffeePsychic to join us streamed live tonight... Thursday August 25th, 2022 at 8:00 PM CST. ALSO REMEMBER YOU AN CALL IN FOR A FREE QUESTION Remember every 1st and 3rd Thursday of each month I am doing ONE FREE QUESTION for each caller who calls in. Please keep in mind the phone lines fill up quickly so in order to be courteous to each caller, please ask your question clearly and once. I will answer each question by using my famous method of coffee reading by pouring the cream in the coffee for each person, and please remember that I have many other callers who also have a burning question , so I have to limit each caller to 3-4 minute intervals. 1-219-940-9292 to book your very own personal reading or host your own PSYCHIC HOUSE PARTY! CALL 219-940-9292 or check me out at WWW.CoffeePsychic.com To contact Dave for astrology chart, go to Astrogunning@sbcglobal.net

In this edition of the AppleVis Extra, Dave Nason and Thomas Domville are joined by Sarah Herrlinger, Director of Global Accessibility Policy and Initiatives at Apple; and Dean Hudson, Accessibility Evangelist at Apple. Topics covered in this podcast include a look at some of the new accessibility features coming later this year to Apple's platforms, as well as a broader look at Apple's approach to making their products accessible to as many people as possible.Full transcript of podcastPlease note, This transcript was created solely for communication access. It is not a certified legal transcript and is not entirely verbatim.Audio: An AppleVis original.Dave: Hello and welcome to the AppleVis Extra Podcast. My name is Dave Nason, and I am joined by Mr. Thomas Domville. How are you, Tom?Thomas: I'm doing great, Dave. It's good to be with you again. This is going to be a fun podcast,.Dave: Yeah, this is one of our more exciting podcasts that we get to do every now and then. We didn't do it last year, but we did it two or three years before that, and they're back. It's Sarah Herrlinger and Dean Hudson from Apple's accessibility team. Great to have them back.Thomas: I know, right. It's been a couple years, so I can't wait to see what they have to say and offer to us in terms of accessibility for this year. I'm pretty excited.Dave: Is there anything in particular that stood out for you before we jump into it?Thomas: I know everybody in the community has been talking about the new voices, especially, Eloquence. But voices, I think that's probably the biggest hit out there to date. Would you agree with that?Dave: Yeah, I think so. I think it's definitely been the biggest news of this year's cycle, so yeah. Let's see what they have to say about that. Should we go ahead and jump into it?Thomas: Yeah. Let's do it.Dave: Sarah and Dean, you are so welcome back to the AppleVis Podcast. Thanks for coming.Dean: Thank you.Sarah: Well, thank you guys very much. It's wonderful to be here.Dave: Yeah, it's been two years, I think. We missed last year, but it was great. So it's great to have you back and talking about everything that's new in the accessibility world with Apple.Dean: Wow. Two years-Sarah: Yes. I-Dean: ... that's very quick.Sarah: I know. I was just thinking the same thing. It feels like the tumultuous nature of the last two years through a wrench into everything down to even doing podcasts. So it's great to be back with you guys.Dave: Absolutely. And I'm guessing this was probably the first WWDC this year at a few years where you actually had people as well.Sarah: It was, we had a hybrid model this year, but did kick it off with the keynote and the state of the union. And some of those major things, the design awards that go on on day one were done in a way to have more people available on campus. So it was a great opportunity to reconnect with a lot of developers and share the message of accessibility.Dave: Yeah. Amazing. And there is lots to talk about in accessibility. Thomas, I think you'd agree with me here that one of the biggest stories that's happened since voiceover itself even launched, all those…

Hi everyone, Dave IS back!!! Please join me, Jorianne The Coffee Psychic , Trance Channeler and Psychic Medium along with my wonderful guest Astrologer Dave Gunning. We will be talking about PLUTO CONJUNCT PLUTO AND ANYTHING ASTROLOGY. Please call in for any questions you would like to ask either Dave or Jorianne. Call 1-347-644-9404 or go to www.BlogTalkRadio.com/JorianneTheCoffeePsychic to join us streamed live tonight... Thursday June 30th, 2022 at 8:00 PM CST. ALSO REMEMBER YOU AN CALL IN FOR A FREE QUESTION Remember every 1st and 3rd Thursday of each month I am doing ONE FREE QUESTION for each caller who calls in. Please keep in mind the phone lines fill up quickly so in order to be courteous to each caller, please ask your question clearly and once. I will answer each question by using my famous method of coffee reading by pouring the cream in the coffee for each person, and please remember that I have many other callers who also have a burning question , so I have to limit each caller to 3-4 minute intervals. 1-219-940-9292 to book your very own personal reading or host your own PSYCHIC HOUSE PARTY! CALL 219-940-9292 or check me out at WWW.CoffeePsychic.com To contact Dave for astrology chart, go to Astrogunning@sbcglobal.net

Email Us Here: Disturbinglypragmatic@gmail.comWhere To Find Us!:  Disturbingly Pragmatic Link Tree!This Episode has EVERYTHING!It's got:David.  Not Dave!Paul's 20s...not the 1920s!Dave Is 50 This Year!YOLO!Dave's Rock Hard Ass!Paul Wants A Diamond!Blood Diamonds!Paul Doesn't Wear Jewelry!Bowling Shirts!1990s Dancing!Jock Jams!Middle School Dances!Funny People Are Usually Full of Mental Illness!Doug Jealousy!Paul Admits His Twuntery!Paul Loves Glory Holes!Christian Macaroni & Cheese!Best Method for Cooking Bacon!8th Grade Poltergeist Presentations!Dave Loved the 1980s!NO QUIJA BOARDS HERE!Poltergeists Are The Pedophiles of Ghosts!Exorcisms-To-Order Are Really Successful Apparently!1-800-I-Exorcise-You!Charmed Power of Three!Leonard!Props Are Fun!Adults Adopting Adults Is As Bad As You Think It Is!The Lion, The Witch, and the Audacity of This Bitch!Episode Links (In Order):Britain's Most Haunted Street!  Poltergeists!!Harvey Guillen's Instagram!"Adults Adopting Adults"!Amanda the Jedi's Take on "Adults Adopting Adults"!Leon Lush's Take on "Adults Adopting Adults"!MUSIC CREDIT!Opening Music Graciously Supplied By: https://audionautix.com/

Best of Clancy, Carrabis & Kayce from last week: Will Barstool ever have it's own plane? Who would be welcome at Dave's Nantucket home? Is Laura Goldman an actual Mets insider? Did Juicy World (aka Juice WRLD) shout out Dave? Is a corpse going to steal the Mets from Steve Cohen? Should the Mets shutdown deGrom before the season even starts?

In this episode Lockoutmen talks with Dave, a long time Culinary Chef. Dave Is interested in changing careers in to trucking but is running in to some road blocks. Dave asked Lockoutmen on some advice on which 2nd chance trucking company's that might give him a chance come see what the talks all about. --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app

Ross and favorite guest Dave Weller talk about ethics in English education. What problems are caused by charging for teaching? What are the ethics of observing teachers? Is it fair to expect teachers to prepare for classes in their own time?Ross Thorburn: [laughs] Hurrah. Welcome to Dave Weller.Dave Weller: You just stole my thunder.Ross: [laughs] I know. What can I say? Regular listeners will understand the joke.Dave: Hello everybody.Ross: Welcome back, Dave.Dave: Thank you.Ross: Today, I thought we could talk about something that is much needed and often much lacking, which is ethics in English education.[laughter]Dave: A deep topic.Ross: Isn't it? I don't know about you, but I've definitely found that most of the schools that I've worked in, not always, but in some ways, been ethically lacking.It's something that we don't often talk about, maybe. Certainly, we've not talked about in this podcast before. It's something that teachers often talk about in teachers' rooms, right? With problems about the ethics of schools. I thought it would be interesting of us to debate here.Dave: Absolutely. People listening, it depends which context you're teaching in, but every teacher I've ever spoken to has a story or several stories to tell about unfairness, discrimination, prejudice. Definitely, there's issues in the industry with ethical behavior.Ross: Maybe, it's more important in teaching, for a lot of teachers that get into teaching, because it should be a net-positive profession. It might be different to some other higher-paying jobs that are more financially motivated, whereas teaching, very few people will get into it to make money, right?Dave: Oh, def.[laughter]Ross: Too late now.Dave: You can't.[laughter]Dave: Is it too late to change my...Ross: I think it is at this point, Dave. We want to play a little quote from David Brooks -- who's got a great book on this topic -- talking to Sam Harris.Sam Harris: What are the resume virtues and the eulogy virtues?David Brooks: The eulogy virtues and the resume virtues are things I, more or less, took from a guy named Joseph Soloveitchik, who was a rabbi in the mid-20th century. He said we have two sides of our nature.One side, which is about conquering the world and being majestic in it. Those are the resume virtues, the things that make us good at our job. Then the eulogy virtues are the internal side of ourselves, the things they say about us after we're dead, whether it's being courageous or honest, or capable of great love.We live in a culture that knows the eulogy virtues are more important. We all would rather be remembered for our character traits rather than our career, but we live in a culture that emphasizes the career parts. We're a lot more articulate about how to build a good career than how to build a good person.Our universities, in particular, are much more confident in talking about professional rise than a moral or spiritual rise.Ross: I would say that's probably also true in our industry, at least, in all the training courses I've worked on. I don't ever remember ethics or the ethics of education ever coming up on them. Obviously, we spend a lot of time talking about how to become a better teacher, but not better in terms of character, better in terms of ethics teacher.Dave: I would agree. It's interesting. I remember the old Greeks used to do several subjects like the triumvirate of rhetoric, logic, and ethics, because they saw it as inseparable from being able to lead a good life.Actually teaching ethics to the young citizens of the time was imperative. They would have thought it very strange not to do so. Yet, it's something missing. Well, I never got taught ethics. Probably why I am why I am now.[laughter]Ross: I thought we could start off with what are the ethics of charging people for education. Obviously, both you and I, pretty much our entire careers, we've worked a little bit in government schools at some point, but mainly it's been paying customers.What would you think are some of the ethical issues or problems there?Dave: Any ethical question, you have to look at all the variables behind it. You have to look at people's income, their wealth, what they are currently studying, government schools, their need, the company that's providing the education, its standards for their own teachers.I think that the context is inseparable. To say in general terms, it's quite tough.Ross: At least, I can see there being some advantages of having education in the private sphere rather than the public sphere. In theory at least, there should be more...In general, there should be more pressure on providers to deliver a better service, because you're getting all this pressure from your competitors.Dave: If government schools and services were perfect, there wouldn't be any need to have private education in the first place.Ross: I can see, maybe, the difficulty there. It's like who do you decide to sell to, or when do you decide not to sell things to people?I've had friends and colleagues who've worked especially with adults. People who they know can't afford an English course, or maybe they're working in a job where English is not going to benefit them very much, or they know that this person doesn't have the study skills. Most people are, maybe, encouraged to take out a large bank loan to pay for something.Dave: Even if the school or institution that's selling the courses, it depends if they do so ethically. If they have a different payment plan so you can pay monthly rather than in a yearly lump sum, which makes it more affordable. If they are offering to people who they think won't be able to complete it in time, or they have other pressures.Even how good their teaching is, which methodology do they follow? Is it up-to-date and evidence-based? If they follow an outdated system because it's easy to market, they'll definitely get more sales.Also, you need to look at the school's retention. What are their results? Can they show that they've helped learners to learn?Ross: You touched on something there, this idea of rewarding teachers for, for example, students signing on, re-signing contracts in private language schools, or demo conversions. Students come to a trial class and they've paid, or they've not paid.That, I think, is an interesting ethical question, of whether that is something that should be rewarded, obviously something that should be punished. Is that a good way of judging people?There is one side of that in that if your students have signed a year contract and they've stayed with you for a year, and they want to re-sign again. That probably does, in aggregate with a lot of people, say some positive things about you. Maybe, if they don't, it says some negative things about you.There's obviously another side to that as well. You're starting to judge teachers by how much money they're generating rather than how much learning they're generating.Dave: Precisely, because learning is such a long process. If a teacher is purely entertaining, they're going to get a very high re-sign rate. That doesn't mean learning happened.Learning is hard. You have to really think. You're perhaps frowning as you grasp a new concept. That is leading to a teacher not getting as high re-sign rate because the students don't want to think in class.The teacher could be technically brilliant and really adept at helping the students to learn. If that teacher is disincentivized from that behavior and think, "Well, actually I earn a decent salary. I enjoy where I'm living, and I want to stay." They could well change their behavior to increase whatever rate they might be being judged on, especially if it's a financial one.Ross: Then you can imagine that being a vicious circle as well, where you would promote the people that get those metrics rather than the metrics of learning, which are harder to measure. That reinforces that whole paradigm, doesn't it? That what we want is re-signs and money rather than learning.Dave: Precisely. This is a problem that I had years ago when I first became a DoS. Before all the technology that we're talking about, I was struggling with the idea of how to measure academic quality. It's really hard to do, because the only way you can do it, as far as I can see, is to directly observe it.We don't have any standard algorithm of what makes good teaching or what makes good learning, because it varies so much depending on the variables of the teacher and the students involved, that is only by direct observation you can see.It affects so many other business metrics within a school. It can affect sales. If you're doing class, you get referrals. It can affect your retention, your service department. You can measure it through the effect it has on other things, but that is a very tricky process and needs a lot of data.If you have a manager that's very business-focused, and you're an academic head, then trying to prove that becomes a real battle. I see that getting worse if the right things aren't measured. With online, with all the extra data coming in, people could well take the easy solution and make those simple correlations.Ross: It's like the old management saying, "What gets measured gets managed." It's a lot easier to measure re-signs or conversions than to measure learning, which is still a bit of an abstract idea and very, very difficult to actually assess.Dave: That's actually a Peter Drucker quote, and he has an extension to it which most people don't say, which is, "...but make sure you measure the right things."Ross: Ah.[laughter]Ross: Oh wow, there we go. Moving on, let's talk a bit about teachers. I know this is something that you wanted to talk about. Schools in general often ask teachers to do a lot of work, and preparation, and marking classes in their own time, right?Dave: If a school is upfront with how they pitch the job to teachers, then I think it's fine. I think a lot of schools don't mention what their expectations are of work upfront.They might say, "The job is this many hours per week for this salary." Then when the teacher starts work, they find out, "Oh, there are also office hours you have to attend. There are extracurricular activities you also have to be present for. There are team building activities which are compulsory." The list goes on. I'm sure [chuckles] our listeners can add a lot more to that.Suddenly, what was thought to be a 40-hour a week job turns into 60 or 70, when, as you say, you add in preparation, marking, and even the horrible situation where teachers are buying supplies from their own pocket as well.Ross: It's almost like schools are taking advantage of the good nature of teachers, of wanting to do good things for their students.I remember my dad, growing up, in my childhood, I remember him. So often the living room floor would be strewn with these cut-out bits of old exam papers which he was copying and pasting to turn into new tests for students that they hadn't had before.Maybe, teaching is different from other professions. Whereas if you're in sales or something and you're putting in many extra hours, you're probably doing that, partially at least, in the expectation that you're going to get more money. Whereas teaching doesn't have that.It's almost that the more you care about the students, the more time you're putting in, but you're not necessarily going to get any financial reward for that.Dave: There's a saying in England, in the NHS, they say it runs on goodwill. They do take advantage of the empathy that staff have. I do think that is very similar in the teaching profession as well.Ross: I also wanted to ask you about the idea of more and more surveillance in classrooms. When both you and I started teaching, there was very little oversight. Maybe, your DoS would come in and observe you. I don't know, for me once a year if I was lucky. Maybe, it could last.[laughter]Dave: That explains a lot, Ross.Ross: It does, doesn't it? Now in offline teaching you often have cameras in classrooms. Even more interestingly, in online teaching, you have not just cameras -- because obviously everything is on camera.Everything that you do in every single class can be watched back both by parents and the people measuring the quality of classes, and more and more companies investing in AI to monitor teacher behavior.Generally in public life, at least, people have a real aversion to facial recognition, whatever authority's using technology to track their behavior, their movements, and everything. I've not really heard anyone talking about this with teaching.I'm not sure if I was a teacher now, full-time, especially an online teacher, and I knew that everything I said was being recorded and monitored with AI. I'm not sure how comfortable I would be with that.Dave: First of all, the first thing that popped into my head there is the idea of privacy and intention. Privacy concerns from the students, and I'm assuming they would all sign waivers so that their recordings could be used and reused for training purposes, and shown to other people. That's where the intention comes in.If all this data is used with ethically-sound principles in mind, I can't see too much of an issue with it. If you're using it to improve their learning, to personalize resources, materials, and lessons, so they're better able to learn, then that is the positive side.Ross: It'll be interesting to see how that changes as the technology moves on and we get to a point when technology knows every single word you've said in every single class to every single student. There's a record of that. There's even a record of every single facial expression that you might have made in every single class. I think all that's coming.Dave: The immediate problem with that, though, is assuming good intentions. You could still run into pitfalls.If you have, say, the ability for AI to recognize engagement through facial expression --Will it be leaning forward in the chair, smiling, eye contact with the camera, however you judge those metrics? That's equated with a good class because they're engaged and more likely to re-sign. That's a business metric rather than a learning metric.A teacher's rewarded for that, then you could go back to the idea of edutainment. The teacher is encouraged to be entertaining rather than help the student to learn. Interestingly, that data could also be used in aggregate to see what really works and what really doesn't in teaching.That is very exciting, but it has this dark side which I think we need to be very careful of. I've not really heard any discussions or anywhere else about the potential pitfalls of this. It's really nice that you're raising people's awareness now.Ross: You heard it here first, folks. [laughs]Ross: Thanks for coming on again, Dave. Do you want to give the blog a quick plug?Dave: Sure. If you want to read more about these topics, then please visit www.barefootteflteacher.com.Ross: Great. Dave, thanks again for coming on.Dave: You're very welcome.

Produced by Jeffrey Crecelius, Wayne Hall, Preston Frazier and Bill Govier This week we speak to YMP stalwart and accomplished author David Watkinson about his new book which is finally available to pre-order on Burning Shed’s website. Jon Anderson and The Warriors - the road to Yes is a remarkable achievement and sheds light on a period of music which was critical to the establishment of Yes and to the creation of the force of music Jon Anderson. Mark and I were delighted to be given the chance to read the book first in the world so do stay tuned for our reactions to it and plenty of detail from Dave himself. What picture of that early period is painted by Dave?Is this book just a bunch of text?What's here for the true Warriors/Jon Anderson/Yes geek? Listen to the episode and let us know what you think! If you would like to support the Yes Music Podcast financially and also have access to exclusive activity and opportunities, there is a special page you can use to sign up and 2019 is the time to join us: Become a Patron! Jon Anderson and The Warriors The road to Yes David Watkinson A new biography of Jon Anderson, which covers his early life and his time in The Warriors, up to the formation of Yes and the release of the band's first album in 1969 To be published on December 13th via Summer's End Festival Promoter Stephen Lambe's Sonicbond Publishing Company and will be made available exclusively via Burning Shed. Author David Watkinson takes us on a journey from the Lancashire beat music scene in the early 1960s to the vibrancy of London later in the decade. In the short time that The Warriors existed ‐ from 1963 to 1967 ‐ they released a single, appeared on TV and in a movie and spent a year following in the Beatles' footsteps as a working group in Germany. As well as providing a complete history of The Warriors, this book also follows Jon's subsequent career in London, via appearances with Gun and his brief solo career as Hans Christian. He finally met Chris Squire and found a home in Mabel Greer's Toyshop, as that group gradually morphed into Yes during the summer of 1968. The book includes new interviews with Jon and many members of The Warriors, who were in the band through its various line‐up changes, most for the very first time. It also features a newly‐researched family tree, never before seen photographs, both of the Warriors and the first line up of Yes, plus many items of memorabilia and an exclusive look into the band’s diaries. It closes with a comprehensive discography and a collectables section. Initially, the book will only be available only in a limited hardback edition of 250, priced £25. All copies will be numbered and signed by the author, David Watkinson, and will be made exclusively available via Burning Shed. The book is 224 pages and features over 200 photographs, most unseen for over 50 years. A paperback edition will be published in Europe on March 27th 2020, and June 26th in the USA. This later edition will be available via all normal bookselling channels. Support Lobate Scarp's Kickstarter! Read the full Press Release http://kck.st/32F205d Kickstarter for Lobate Scarp's 2nd Studio Album ! Show notes and links: YMP Patrons: Producers: Jeffrey Crecelius Preston Frazier Bill Govier and Wayne Hall Patrons: Aaron SteelmanDave OwenMark James LangPaul TomeiJoost MaglevDavid HeydenMartin KjellbergPaul WilsonBob MartilottaLindMichael O'ConnorPeter HearndenBrian SullivanDavid PannellMiguel FalcãoLobate ScarpChris BandiniDavid WatkinsonNeal KaforeyRachel HadawayCraig EstenesDemPaul HailesMark 'Zarkol' BaggsDoug CurranRobert NasirFergus CubbageScott ColomboFred BarringerScott Smith Geoff BailieSimon Barrow Geoffrey MasonStephen LambeGuy R DeRomeSteve DillHenrik AntonssonSteve PerryHogne Bø PettersenSteve RodeIanNBSteve ScottJamie McQuinnSteven RoehrKen FullerTerence SadlerJeremy NorthTim StannardJimTodd DudleyJohn Cow...

Episode 206 Even a broken clock is right twice a day; that's the old saying, right? Well, in this week's show our Fantasy Effington One Token Broken Clock (ahem, Dave) gets to gloat about his super safe play that got him the win in pretend F1 racing. In addition to the fake racing, our intrepid hosts did some real racing of the karting variety as well, and what do we have here...another couple of victories for Dave? Is something wrong? Something's wrong. I'm sure we'll leave the upside down pretty soon here and things will get back to normal, so don't worry about it. It's fine. It's fine. We love you. Buy stuff with our hashtag brand on it! TeamClearCoat website TeamClearCoat Drivetribe TeamClearCoat YouTube Channel TeamClearCoat Instagram TeamClearCoat Twitter TeamClearCoat Facebook TeamClearCoat Video Game Recommendations on Steam

In this episode, we talk about Dave Lorenzo's new book, "The 60 Second Sale" and a lot more! A lot of B2B sales professionals are doing long term, complex sale efforts, "The 60 Second Sale" sounds a little like "12 minute abs." I ask Dave "Is it really that easy? Can you really do it this quickly?" "The 60 Second Sale is about creating a condition under which, if your best client, the person who trusted you most in the business world, had a need and you called them up, it would only take you 60 seconds to close that deal. So, if you are adding value to somebody who already trusted you, you could close a deal in 60 seconds if you met those exact conditions. The book is about creating those conditions every single time. It's about taking what everybody would think of as a one-call close environment and making the relationship the one-call close." "Another way to look at it is to take the individual moments of truth that occur throughout the day with our clients and with the evangelists who are out there recommending our services, and winning each of those individual moments of truth. So, you create an environment that is one of trust, and you make sure that you're always focused on the wants and the needs of your clients, and you can close a deal in 60 seconds." Listen in to hear Dave's thoughts on how to build the relationship, to create those conditions and needs. He talks about the things required to create differentiation, separation in what can be competitive markets. Check out the full transcription and recording on the Heinz Marketing blog starting Mon. 9/24/18 6am PST.  

Veteran health podcaster, blogger, international speaker, and bestselling author Jimmy Moore from “Livin’ La Vida Low-Carb” teams up with Toronto, Ontario Canada-based nephrologist Dr. Jason Fung from IntensiveDietaryManagement.com and Dr. Fung’s Clinical Director at his Intensive Dietary Management Program clinic Megan Ramos on this podcast dedicated to answering YOUR questions about intermittent, alternate day, and extended fasting. Jimmy and Dr. Fung are the coauthors of the 2016 international bestseller The Complete Guide to Fasting: Heal Your Body Through Intermittent, Alternate-Day, and Extended Fasting and, along with Megan, are happy to provide this podcast as an additional resource for anyone curious about going on a fast to improve their health. We love hearing from our listeners with new questions–send an email to Jimmy at livinlowcarbman@charter.net. And if you’re not already subscribed to the podcast on iTunes, then you can do that and leave a review HERE. Listen in today as Jimmy and Dr. Fung take questions from attendees of the 2017 Low-Carb Breckenridge conference in Episode 9. GET A $39 BOTTLE OF OLIVE OIL FOR JUST A BUCK GET YOUR $39 BOTTLE FOR JUST $1 NOTICE OF DISCLOSURE: Paid sponsorship KEY QUOTE: “You can do any variation of fast that works for you. The important thing is to test for yourself.” – Dr. Jason Fung Here are the audience questions Jimmy and Dr. Fung answer in Episode 9: Dr. Fung's thoughts on Study from Valter Longo: Fasting-Mimicking Diet Reverses Diabetes in Mice  1. Mike: I notice that when I'm fasting I have less tolerance for cold. Is there an issue with reducing free T-3 levels when fasting? 2. Dave: Is there a metabolic change that occurs when fasting while using exogenous ketones or bone broth compared to a pure water fast? 3. Christie: I just finished an 11 day fast. During the first few days, I wasn't drinking a lot and I had a lot of heartburn and burping. Is this normal? JIMMY AND DR. ADAM NALLY’S KETO LIVING SUPPLEMENTS 4. Heather: Is it true that type 1 diabetics have an autoimmune response that will attack beta cells, even after they have been regenerated through fasting? 5. Dr. Eric Westman: How do you define intermittent fasting? 6. Ruth: I've never fasted past 42 hours. Will fasting longer help to lower fasting blood sugar? WORLD’S 1ST REUSABLE BREATH KETONE ANALYZER NOTICE OF DISCLOSURE: Paid sponsorship 7. Kelly: Should I start eating a ketogenic diet before trying to fast so that I will already be keto adapted? KEY QUOTE: “At the end of the day it's all about sustainability, whatever you can do over the long term.” –  Jimmy Moore 8. Misha: What advice would you give someone about fasting while treating cancer? 9. Gloria: My husband is 58 and mostly healthy. After losing weight from intermittent fasting he has started adding back a little weight. What can we do? GIVE YOUR ELECTROLYTES A SUGAR-FREE BOOST USE COUPON CODE “LLVLC” FOR $10 OFF NOTICE OF DISCLOSURE: Paid sponsorship LINKS MENTIONED IN EPISODE 9 – SUPPORT OUR SPONSOR: The world’s freshest and most flavorful artisanal olive oils. Get your $39 bottle for just $1 – JIMMY AND DR. ADAM NALLY’S NEW SUPPLEMENT LINE: Try the KetoEssentials Multivitamin and Berberine Plus ketogenic-enhancing supplements – SUPPORT OUR SPONSOR: Get the BRAND NEW 2017 Ketonix breath ketone analyzer from Ketonix.com – SUPPORT OUR SPONSOR: Get the new lemon-lime flavored Jigsaw Electrolyte Supreme supplement (Get $10 off your order with coupon code “LLVLC”) – Dr. Fung's thoughts on Study from Valter Longo: Fasting-Mimicking Diet Reverses Diabetes in Mice  – Jimmy Moore from “Livin’ La Vida Low-Carb” – Dr. Jason Fung from Intensive Dietary Management – Megan Ramos from Intensive Dietary Management – The Complete Guide to Fasting: Heal Your Body Through Intermittent, Alternate-Day, and Extended Fasting – Get the full audiobook read by Jimmy on Audible – Fung Shweigh Facebook page