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Bio Moiz Doriwala is a seasoned professional with a diverse background spanning real estate finance, investment, and entrepreneurship .... Growing up in Naperville, Illinois, his interest in real estate was sparked by his father's career as a general contractor and developer. He pursued higher education, earning a Bachelor of Arts degree in Economics from the University of Chicago and an MBA in Finance and Management and Strategy from Northwestern University's Kellogg Graduate School of Management. His early career began in the finance sector with a unique rotational program at Bank One (later JP Morgan Chase), where he gained experience in asset-backed securities trading, commercial loan workouts, leveraged leasing, and even worked in a strategic group under Jamie Dimon. He further honed his investment banking skills in the Financial Sponsor Group of J.P. Morgan Securities in New York, focusing on M&A transactions and various financing activities. In 2005, Mr. Doriwala transitioned to the real estate industry, joining S&R Land Development, LLC in Reston, VA, where he was involved in the development of residential and commercial land. Leveraging his financial acumen and real estate exposure, he later became Vice President of Perseus Realty Capital, LLC, specializing in joint venture equity, preferred equity, and mezzanine financings. In 2008, Mr. Doriwala formed his own umbrella company, Stirling Realty Advisors, LLC, a boutique real estate investment bank that provides financial advisory services, primarily focusing on raising debt and equity capital for real estate developers and operators nationwide. While initially focused on capital raising, Stirling has evolved into a vehicle for his various investment activities. Under the Stirling umbrella, Mr. Doriwala manages and invests in several businesses, including: Bookhill Park: An entity that manages a series of small funds and operates as a finance company, providing opportunistic lending across various industries and geographies Investments in mental health and behavioral health businesses Investments in one off LPs in apartment projects His role as President of Superior Living Foundation Inc., a 501c3 non-profit focused on owning businesses in the healthcare region, such as senior housing and behavioral health facilities1 .... Mr. Doriwala also has experience in the senior housing sector, having served as Treasurer for Meridian Senior Living .... Additionally, he was involved in the mobile home park business for a number of years through BHP, building and eventually exiting a portfolio of parks. Throughout his career, Mr. Doriwala has demonstrated an opportunistic and entrepreneurial approach, building strong relationships and a reputation for his ability to navigate complex transactions and provide creative financial solutions. He values strong partnerships, thorough due diligence, and trusting his instincts in his investment decisions. Show Notes [6:30] Introduction to Moiz Doriwala and his diverse business background. He manages or participates in managing at least three businesses. [7:00] Overview of Sterling Realty Advisors. Formed in 2008 as an umbrella company for advising real estate operators and developers on capital raising (joint venture equity, mezz, preferred equity, debt financing). Now primarily a vehicle for personal and business investment activities. [7:50] Discussion of Sterling as an investor. Investing in individual real estate projects and companies, often as a passive investor or advisor. [8:20] Introduction to Bookhill Park. An entity managed by Moiz, functioning as a finance company providing loans across various industries and geographies, focusing on the borrower and path to repayment. [9:10] Overview of investments in mental health and behavioral health businesses. [9:20] Moiz's role as President of Superior Living Foundation Inc. A 501c3 non-profit focused on owning businesses in the healthcare region (senior housing, behavioral health, substance abuse). [9:55] Moiz shares his origins and early life in Naperville, Illinois. Noteworthy growth of the suburb outside Chicago. [10:40] Influence of his father's career as a general contractor and developer on his early real estate exposure. [11:05] Initial aspirations to be a lawyer but a shift to finance and banking during college at the University of Chicago (Economics). [11:30] First job at Bank One and the unique two-and-a-half-year rotational program with simultaneous part-time MBA at Northwestern Kellogg. [12:15] Rotations at Bank One: Asset-backed securities trading desk, managed assets (commercial loan workout group, including the Safety Clean bankruptcy), leveraged leasing group, and "skunk works" group working directly for Jamie Dimon. [14:30] Rotation in the banks' merger and acquisition (M&A) group. [14:45] Unique aspect of the Bank One program: Obtaining an MBA (paid for by the bank) through evening classes while working full-time. [16:15] Jamie Dimon's arrival at Bank One as CEO during Moiz's time there. [16:30] Merger of Bank One with JP Morgan Chase and Moiz's move to New York to work in the investment bank's financial sponsors group. [16:45] Fond memories of working in JP Morgan's financial sponsor group. Considered a top group on the street with a strong balance sheet and access to private equity firms. [18:40] Decision to leave JP Morgan in 2005 due to his wife's desire to return to the DC area and the demanding hours of investment banking. [19:30] Intense work hours in investment banking: Regularly working 12+ hour days, seven days a week, sometimes sleeping at the office. [20:15] Wife's background in the real estate industry and understanding of the demanding work schedule. [20:20] Opportunity to join his wife's family's business in land development in the growing DC area, prompted by his father-in-law coming out of retirement to help a large home builder. [20:50] Reasons for leaving high finance for land development: Opportunity to learn real estate on someone else's dollar, educational and financial rewards, and the desire to move to DC. [21:30] Eye-opening experience transitioning from Wall Street to land development. Different work hours and the need for patience when dealing with the public sector. [23:15] Realization that residential land development was not the right fit. [23:30] The financial crisis impacting the land development industry. Fortunate timing of selling their last project before the major downturn. [24:25] Pivoting after the financial crisis to Perseus Realty Capital. A brokerage firm focused on financing real estate transactions (joint venture equity, mezzanine, preferred equity). [25:15] Reasons for choosing Perseus over larger national players: Desire for a smaller, newer firm with more control over destiny, having experienced both very large and very small companies. [26:25] Perseus's evolution to PRP real estate and shift from intermediary to asset management. [26:45] Learning curve at Perseus regarding traditional real estate financing. Understanding mortgage financing, mezzanine debt in real estate, and the role of institutional investors and private equity funds. [27:45] Focus on networking and finding new sources of capital for clients at Perseus. [28:50] Most challenging deal at Perseus: A high-rise residential building in Denver during the financial crisis where the senior loan fell through after construction began. [29:30] Securing mezzanine financing for the Denver project with another intermediary bringing in Corus Bank as the senior lender. [30:10] Challenges with Corus after Starwood took over, transitioning from dealing with a bank to an opportunity fund. [31:10] Comparison of the lending environment today (more cautious with lower loan-to-cost, higher rates, stronger covenants) compared to before COVID. [32:30] Overview of Bookhill Park's lending activities. Opportunistic lending beyond just real estate, including first and second mortgages, mezzanine, unsecured and secured loans, asset-based loans, inventory financing, payroll loans to government contractors, and factoring. [33:20] Origin of Bookhill Park's lending business: Helping a government contractor with payroll financing due to challenges with traditional bank lending for new contractors. [34:20] Higher return expectations in Bookhill Park's early lending days (17%+) compared to today (12-15%) due to increased private credit competition. [36:00] Impact of higher generic interest rates versus the decrease in Bookhill Park's targeted returns due to market competition. [36:50] Bookhill Park's patient capital base (personal capital, friends, family, investors) allows for selectivity in deals. [38:10] Evolution of Stirling Realty Advisors post-Perseus, focusing on national JV equity and mezzanine raising with a business partner. [38:50] Strategies for finding clients and investors: Networking at conferences (ULI), cold calling developers, and building relationships. [39:55] Business partner's departure and Moiz continuing as a sole entrepreneur with Stirling, leading to involvement in other businesses through new partnerships. [40:30] Evolution of the senior living business involvement. Initial capital raising for healthcare deals leading to a role at Meridian Senior Living. [41:20] Role as Treasurer at Meridian Senior Living. Initially part-time but became more significant, involving corporate infrastructure and learning the operations-focused nature of the healthcare business. [42:50] Financing structure of Meridian Senior Living: Real estate financed by traditional sources (opportunity funds, REITs) through leases, while operations were primarily financed by the three partners. [43:20] Involvement in raising capital for Meridian. [43:30] Managing banking relationships at Meridian. The partners had existing relationships, but Moiz also brought new ones. [44:20] Growth and evolution of Meridian: Hiring a full-time treasurer and assistant treasurer, and starting ancillary businesses (pharmacies, therapy business). [45:20] Parallel development of Bookhill Park and how relationships from the senior housing business led to healthcare lending deals. [46:00] Bookhill Park's unique lending advantage in the senior housing space: Ability to potentially take over management due to the operating company connection. [46:30] Bookhill Park's partnership with regional banks to do larger "A/B" structure loans, effectively syndicating the "A" piece. [48:30] Mobile home park business (BHP): Parallel investment with a different group of partners, attracted by limited supply and affordable housing characteristics. [50:15] Portfolio size of mobile home parks at its peak. [50:20] Opportunistic investment strategy leading to eventual exits from mobile home park projects. [50:45] Sale of a well-located mobile home park in Maryland after a short ownership period due to a strong offer. [51:30] Institutionalization of the mobile home park space over the last 15 years, leading to increased competition and higher acquisition costs, making current returns less attractive. [52:00] Challenges in the current mobile home park market: Increased broker presence and sellers having unrealistic price expectations. [52:50] Differences between mobile home park and traditional multifamily operations. [53:10] Section 8 in mobile home parks. [53:30] Potential future re-entry into the mobile home park market when institutional capital exits. [54:10] Formation of Superior Living Foundation Inc. (501c3) in 2017 by the principals at Meridian Senior Living to grow their presence in senior housing and healthcare through tax-exempt opportunities. [56:00] Avoiding conflicts of interest between the non-profit and for-profit entities. Independent board for the non-profit making decisions at market rates with multiple operator options. [57:15] Interesting financing assignments: Maritime claim settlement through Bookhill Park, involving learning about maritime law and insurance claims. [59:30] Recent closing of a 14-property skilled nursing portfolio acquisition by Superior Living Foundation. A tax-exempt bond deal with institutional buyers, aimed at growing the foundation's ability to provide healthcare services. [1:01:30] Reflection on John's early prediction of Moiz's success and their collaborative transactions over the years. [1:01:45] Moiz's experience in the ULI mentorship program with John as his mentor. [1:02:30] Value of their ongoing relationship and how it has led to successful introductions and investment opportunities, including a senior housing deal in Florida and multiple investments in a former mentee's multifamily projects. [1:04:40] Advice for young listeners on investment criteria and sponsor selection. Prioritizing the sponsor, location, and the sponsor's financial resources and "skin in the game." [1:07:00] Views on signing recourse loans. Moiz's partner's perspective on the development game. [1:08:00] Not personally willing to act as a co-GP solely for providing a guarantee. [1:08:30] Ability to bring both equity and a guarantor to a deal. [1:08:45] The unique aspect of Moiz's ability to raise capital and bring a group of investors to deals. [1:09:50] Investment philosophy and what sets Moiz apart: Creativity without a fixed "box," focusing on the story and exit, and a commitment to doing what they say they will. [1:12:00] Clarification on partnership structure: While Stirling is his sole business, almost all other ventures involve partnerships. [1:12:30] Importance of having partners to bounce ideas off of. [1:13:00] Time management strategies: Making lists, prioritizing, managing multiple transactions, relying on mental organization, and detailed calendar use. [1:14:20] Financial management: Working with an accountant and using QuickBooks for many entities. [1:15:15] Lean administrative structure. [1:16:00] Personal management of investor payouts for Bookhill Park. [1:16:30] Utilizing technology for tracking investments (example of Colin's investor portal) and the recommendation to invest in such technology. [1:17:00] Limited personal exploration of AI but an interest in future use. [1:17:30] Use of a wealth management firm with strong technology to track personal and investment financials. [1:17:45] Effectively having a "family office" through their wealth management firm's tracking capabilities. [1:18:30] Ensuring his wife knows the location of important financial information. [1:19:00] Challenging trends and unique opportunities in investments and capital markets today: Uncertainty due to government changes, tariffs, and financial market fluctuations. Lending still tough, potential impact of rising unemployment on real estate. Possible positive impact on office sector. [1:20:30] Trends in the senior housing business: Demographic upside ("silver tsunami") but challenges with increasing labor, food, and supply costs not yet matched by rent increases. Impact of stock market and interest rates on affordability. Financing and construction costs remain high. [1:22:00] Dynamics in the skilled nursing space: Reliance on Medicaid with capped payments and potential cuts creating nervousness. [1:23:15] Growth potential in healthcare in general and the role of AI. [1:23:45] Growth potential in the energy business, including passive energy. [1:24:00] Concerns and questions surrounding the office sector: Return to office trends, occupancy rates, and the efficiency of operating buildings with hybrid work models. Impact on retail demand. [1:24:45] Approach to future investments: Remaining opportunistic and open-minded across various sectors, continuing high-quality lending and partnerships, and focusing on good real estate in prime locations. [1:26:00] The unique value of Moiz's diverse experience across institutional finance, small entrepreneurial groups, agency, and principal roles. [1:26:15] Accepting that not all ventures will succeed and the importance of learning from both successes and failures. [1:26:45] Most surprising lessons learned: No guarantees in business or life, and the critical importance of personally verifying key information rather than solely relying on team members or partners. [1:28:30] Advice to his 25-year-old self: Be curious, be patient, be a hustler, slow down (balance opportunism with thorough execution), and be passionate. [1:29:55] Priorities of family, work, and giving back: Family is paramount with a focus on spending time with his children. Strong emphasis on giving back in the education space, both domestically and internationally. [1:30:30] Supporting various educational organizations. [1:31:30] Final question: What would a billboard on the Capitol Beltway say? "Trust your gut." [1:32:00] Reflection on times when trusting his gut paid off and, more significantly, times when ignoring his gut led to negative outcomes. [1:32:20] Accepting missed opportunities without regret. [1:33:20] Thank you and closing remarks. Similar Episodes Brad Olsen Shekar Narasimhan Ken Bacon Willy Walker

This Aerospace & Defense CEO Loves Finding Pockets Of Opportunity. Meet Kim Fields, CEO & President of ATI - $ATI Guest:Kim Fields, CEO & President ATI Ticker: $ATI Website:https://www.atimaterials.com/Bio:Kimberly A. Fields is President and Chief Executive Officer of ATI Inc., a global producer of high performance materials and solutions for the global aerospace and defense markets, and critical applications in like markets. Prior to becoming CEO in 2024, Kim served as Chief Operating Officer from 2022 and became President in July 2023. During her tenure, ATI has grown as one integrated operation, sharpening its operational advantages, increasing capacity and capability for the extraordinary materials customers value most.Kim joined ATI in 2019 as executive vice president of ATI's Flat Rolled Products group, and in 2020 took on leadership of both business segments. Prior to joining ATI, Kim was group president for industrial and energy at IDEX Corporation, where she dramatically improved profitability and accelerated growth in the business portfolio. She's held commercial, manufacturing, and strategic leadership positions at EVRAZ and GE, growing GE's penetration in metals, petrochemicals and mining segments. Kim earned a BS in Ceramic Engineering from the University of Illinois at Champaign-Urbana and an MBA from the Kellogg Graduate School of Management at Northwestern University.

Honored to be joined by Doug Kiersey again as we jump into Doug provides insights on current valuation trends, interest rates, and market dynamics. He notes that although interest rates have stabilized around 4.25%, the spread between industrial cap rates and treasury yields remains narrow, compelling investors to rely on rent growth rather than appreciation for returns. Doug anticipates moderate rent growth in 2025, driven by constrained supply due to significantly reduced development activity. We also cover challenges in the industrial sector, including overbuilt big-box warehouses in certain markets and potential pressures on vacancy rates. Doug emphasizes investing in high-quality, infill assets with sustainable competitive advantages. They also explore challenges such as power capacity constraints, the rise of automation, and political opposition to industrial developments.About Doug:Douglas A. Kiersey, Jr., is CEO and President of Dermody and oversees all of the company's operations and strategic initiatives including capital formation, acquisition, development, and investment management activities. He is a member of the Dermody Properties Advisory Board and chairs the company's Executive and Investment Committees. Since Mr. Kiersey joined the company in 2011, Dermody has developed and acquired industrial logistics assets with an aggregate value in excess of $10 billion.Mr. Kiersey has more than 35 years of experience in logistics properties in major U.S. markets. Prior to joining Dermody, he spent 17 years at Prologis in various senior roles. Prior to joining Prologis, Mr. Kiersey worked at Cushman & Wakefield for 11 years.Mr. Kiersey earned his Bachelor of Science degree in business administration from Oregon State University, and an M.B.A. from the J.L. Kellogg Graduate School of Management at Northwestern University where he is an occasional guest lecturer and a member of the Kellogg Real Estate Advisory Council. He is also a member of the Urban Land Institute (ULI) and the Society of Industrial and Office Realtors (SIOR). Among other distinctions, Mr. Kiersey was elected Captain of the Palisades Elementary School Safety Patrol where he learned early lessons in risk management.Dermody website: https://dermody.com/News!Dermody Properties—a diversified private equity investment management company focused exclusively on the national logistics real estate sector—is pleased to announce it has adopted a concise new name, Dermody. The streamlined name better reflects how the company is commonly recognized in the industry, and positions Dermody for continued growth, expansion and innovation.--

Truths can be elusive for us adoptees. Fantasies or nightmares may fill in the blanks.  And truths can shift when we re-visit the past and ask others for their truth - their versions of events. This can lead to profound realisations. Listen in as Julie and I explore shifting truths, changes of mind and more.Julie Ryan McGue is an author, a domestic adoptee, and an identical twin. She writes extensively about finding out who you are, where you belong, and making sense of it.Here are links to previous interviewshttps://thriving-adoptees.simplecast.com/episodes/julie-i4j2iwqohttps://thriving-adoptees.simplecast.com/episodes/julieHer new book is Twice The Family:From the award-winning author of Twice a Daughter comes the much- anticipated prequel. In this coming-of-age memoir–set in Chicago's western suburbs between the 1960s and 80s–adopted twins, Julie and Jenny, provide their parents with an instant family. The twins' sisterly bond holds tight as the two strive for independence, individuality, and belonging. But as Julie's parents continue adding children to their family, several painful and tragic experiences test family values, parental relationships, and sibling bonds.  Faced with these hurdles, Julie questions everything—who she is, how she fits in, and even her adoption circumstances. She understands her adoptive family is held together by love, faith, support, and her parents' commitment to each other and their children. And yet, the life her parents have constructed is not one Julie wants for herself. As she matures, she chooses her own unique path. In the process, she realizes how the experiences that formed her have provide a road map for the person and mother she wants to be.More at https://juliemcgueauthor.com/twice-the-family/Julie's debut award winning memoir Twice a Daughter: A Search for Identity, Family, and Belonging (She Writes Press) came out in May 2021. It is the story of her five-year search for birth relatives. Her weekly blogs That Girl, This Life and monthly column at The Beacher focus on identity, family, and life's quirky moments. Born in Chicago, Illinois, Julie received a BA from Indiana University in Psychology. She earned a MM in Marketing from the Kellogg Graduate School of Business, Northwestern University. She has served multiple terms on the Board of the Midwest Adoption Center and is an active member of the American Adoption Congress.Julie splits her time between Northwest Indiana and Sarasota, Florida. She is the mother of four adult children and has three grandsons. If she's not at her computer, she's on the tennis court, or out exploring with her Nikon. Julie is currently working on a collection of personal essays.https://juliemcgueauthor.com/https://www.facebook.com/juliemcguewrites/https://www.linkedin.com/in/julie-ryan-mcgue-a246b841/https://www.instagram.com/julieryanmcgue/https://twitter.com/juliermcgue Guests and the host are not (unless mentioned) licensed pscyho-therapists and speak from their own opinion only. Seek qualified advice if you need help.

Welcome to Strategy Skills episode 528, an interview with the author of Performing Under Pressure: The Science of Doing your Best When it Matters Most, JP Pawliw-Fry.    In this episode, JP walks us through the concept of pressure management—how to reduce pressure in our personal and professional lives to better excel in whatever we do. He also discusses the importance of self-awareness, especially under pressure, and the concept of 'aggressive learning,' where high performers extract more information from experiences. JP shares how meditation can change one's relationship with stress and improve focus.   JP Pawliw-Fry is a world-renowned keynote speaker, and the author of the New York Times bestseller Performing Under Pressure which was named INC. Magazine's Best Business Book of the Year. He teaches a leadership course at the Kellogg Graduate School of Management. Over the last 25 years, JP worked with leaders and high-pressure performers around the world — from Navy Seals and Olympic athletes to executives at global organizations like Intel, Coca Cola, and NASA.   Get JP's book here: https://www.jppawliw-fry.com/the-book Performing Under Pressure: The Science of Doing Your Best When it Matters Most   Here are some free gifts for you: Overall Approach Used in Well-Managed Strategy Studies free download: www.firmsconsulting.com/OverallApproach   McKinsey & BCG winning resume free download: www.firmsconsulting.com/resumepdf   Enjoying this episode? Get access to sample advanced training episodes here: www.firmsconsulting.com/promo  

Winner's Get Back Up: How This 3rd Generation CEO Is Creating Value From Sorbent Minerals & Cats – Meet Dan Jaffee, Chairman of the Board, President, & Chief Executive Officer Oil-Dri $ODC Guest: Dan Jaffee, Chairman of the Board, President, & Chief Executive Officer Oil-Dri..$ODC Chairman of the Board, President, & Chief Executive Officer Oil-Dri Ticker: $ODC Website: https://www.oildri.com/ Daniel S. Jaffee Chairman of the Board, President, & Chief Executive Officer Oil-Dri Ticker: $ODC Mr. Jaffee graduated from Georgetown University in 1986. Mr. Jaffee joined the Company in 1987 after a year with the accounting firm now known as PricewaterhouseCoopers LLP. He was a product manager in the Industrial and Agricultural divisions of the Company until 1989. In 1990, he became Chief Financial Officer of the Company, a position he held until 1995. From 1990 to 1995, he also held group vice presidential positions in the areas of Canadian and domestic operations, finance, management, information systems and consumer products. He was Chief Operating Officer from 1995 to 1997. Mr. Jaffee became President in 1995, Chief Executive Officer in 1997 and Chairman of the Board of Directors in 2018. Mr. Jaffee received an M.B.A. from the Kellogg Graduate School of Management of Northwestern University in 2004. Mr. Jaffee's civic activities include serving as a member of the Board of Directors of the Anti-Cruelty Society of Chicago and as a Trustee of the Chicago History Museum. --- Support this podcast: https://podcasters.spotify.com/pod/show/smartmoneycircle/support

Aaron Ahuvia PhD is the world's leading scientific expert on brand love. In this episode we discuss: How the brain works and what we know about love What it's like working with Philip Kotler How we define love and why it matters to marketers How to build brand love What to do when brand love isn't something you should aspire to  Anthropomorphism and why brands talk to us Why stories matter Why the IKEA effect works (but not for me!) What Lisa Marie Presley can teach us about B2B marketing (really) What to do if people fall out of love with your brand Aaron Ahuvia Dr. Aaron Ahuvia is a Professor of Marketing at the University of Michigan-Dearborn and holds an appointment in the College of Engineering's program on Human Centered Design as well as at the UM-Ann Arbor's Penny W. Stamps School of Art and Design. He completed his Ph.D. in Marketing at Northwestern University's Kellogg Graduate School of Management, where he worked with Professor Philip Kotler (‘the father of modern marketing'). Strategy Sessions Host - Andi Jarvis If you have any questions or want to talk about anything that was discussed in the show, the best place to get me is on LinkedIn or Instagram. Make sure you subscribe to get the podcast directly or sign up for it here to have it emailed when it's released. Recommendations Aaron's book, The Things We Love Creating Superfans by Brittany Hodak Lidia Infante on the Strategy Sessions talking about using data on dating apps

In this episode, we revisit our interview with Kristie Paskvan. Kristie is an experienced board member and CFO/COO/President with over 25 years of experience assisting diversified financial services, asset management, real estate, insurance, and professional services companies to grow their businesses worldwide. Kristie is a board director at First Women's Bank (FWB) - a de novo bank launched in 2021; SmithBucklin - a Chicago-based association management company; and the National Council on Compensation Insurance (NCCI), which provides objective state insurance rate and loss cost recommendations. She is a member of the United Way of Metropolitan Chicago board of directors, where she chairs the Stronger Neighborhoods committee and the Chicagoland Chamber of Commerce board. Additionally, she is a member of the University of Illinois Dean's Business Council for the Gies College of Business. Kristie is a member of the National Association of Corporate Directors (NACD), attaining Certified Board Director status. Kristie was a member of the Mesirow Financial board of directors for 6 years, participating in or leading numerous committees including strategy, audit, information technology, HR & compensation, and enterprise risk management. She is a part-time Associate Director in the Magelli Office of Experiential Learning at the University of Illinois Gies College of Business. Previously she was the CFO and COO at Mesirow Financial, a global financial services company. Kristie received her bachelor's degree in Accounting from the University of Illinois. She has an executive MBA from the Kellogg Graduate School of Management. She is a member of the Illinois CPA Society for which she is a contributor to its quarterly Insight magazine.

We had a fascinating conversation with Deborah Spence-Cummings in late 2022 and are excited to reshare it in our “Best Of” series. Originally published 12/01/22.Only an exceptional innovator would look at a burgeoning career in operations and pause to examine their reputation and evaluate their goals. With the help of an executive coach, Deborah Spence-Cummings did just that and now serves as the Director of AI/ML Operations at Apple. Deborah shares how she used an engineering mindset developed at MIT and Northwestern to drive her career progression through positions in operations, planning, project management, sales, and now, artificial intelligence and machine learning. In this conversation with Pat and Shelli, Deborah also discusses her contributions to the innovative processes at Apple and NAVTEQ and how she navigated her career when obvious opportunities did not appear.(01:27) – Machine learning and AI(08:09) – Studying material science(11:38) – Journey to NAVTEQ(18:14) – Taking on different roles(21:45) – Working with an executive coach(26:51) – The engineering of sales(28:33) – Approach to leadership(30:27) – Advocates in your networkDeborah Spence-Cummings is the Director of AI/ML Operations at Apple. She has previously held executive and senior roles at HERE Technologies and NAVTEQ across operations, planning, program management, and sales. Deborah earned a bachelor's and master's degree in materials science and engineering at the Massachusetts Institute of Technology and an MBA at the Kellogg Graduate School of Management at Northwestern University.If you'd like to receive new episodes as they're published, please subscribe to Innovation and the Digital Enterprise in Apple Podcasts, Google Podcasts, Spotify, or wherever you get your podcasts. If you enjoyed this episode, please consider leaving a review in Apple Podcasts. It really helps others find the show.Podcast episode production by Dante32.

This week I had the honor of being joined by Douglas Kiersey, CEO & President of Dermody Properties. We had a fascinating chat about the industrial real estate market and Doug shared many great insights that he's gained from purchasing and developing over $8B worth of warehouses and distribution centers. About: Douglas A. Kiersey, Jr., is CEO and President of Dermody Properties and oversees all of the company's operations and strategic initiatives including capital formation, acquisition, development, and investment management activities. He is a member of the Dermody Properties Advisory Board and chairs the company's Executive and Investment Committees. Since Mr. Kiersey joined the company in 2011, Dermody Properties has developed and acquired industrial logistics assets with an aggregate value in excess of $8 billion. Mr. Kiersey has more than 35 years of experience in logistics properties in major U.S. markets. Prior to joining Dermody Properties, he spent 17 years at Prologis in various senior roles. Prior to joining Prologis, Mr. Kiersey worked at Cushman & Wakefield for 11 years. Mr. Kiersey earned his Bachelor of Science degree in business administration from Oregon State University, and an M.B.A. from the J.L. Kellogg Graduate School of Management at Northwestern University where he is an occasional guest lecturer and a member of the Kellogg Real Estate Advisory Council. He is also a member of the Urban Land Institute (ULI) and the Society of Industrial and Office Realtors (SIOR). Dermody Properties website: https://dermody.com/ --

Pleased to be joined by Doug Kiersey for part II of our discussion about industrial real estate. We jumped deeper into the current state of the market and discussed investor appetite, market values, trends and even made a few predictions! Here's part 1 if you missed it: • A Deep Dive into Industrial Real Esta... About: Douglas A. Kiersey, Jr., is CEO and President of Dermody Properties and oversees all of the company's operations and strategic initiatives including capital formation, acquisition, development, and investment management activities. He is a member of the Dermody Properties Advisory Board and chairs the company's Executive and Investment Committees. Since Mr. Kiersey joined the company in 2011, Dermody Properties has developed and acquired industrial logistics assets with an aggregate value in excess of $8 billion. Mr. Kiersey has more than 35 years of experience in logistics properties in major U.S. markets. Prior to joining Dermody Properties, he spent 17 years at Prologis in various senior roles. Prior to joining Prologis, Mr. Kiersey worked at Cushman & Wakefield for 11 years. Mr. Kiersey earned his Bachelor of Science degree in business administration from Oregon State University, and an M.B.A. from the J.L. Kellogg Graduate School of Management at Northwestern University where he is an occasional guest lecturer and a member of the Kellogg Real Estate Advisory Council. He is also a member of the Urban Land Institute (ULI) and the Society of Industrial and Office Realtors (SIOR). Dermody Properties website: https://dermody.com/ --

This month, co-founders and managing partners of HalseyPoint Lynn Hopton and Yvonne Stevens join Brian Bejile on The Ramp Up. Lynn and Yvonne are veterans of the CLO market. They've been securitizing assets since the market's early days in the '90s. After decades of working together at SunAmerica and then at American Express, they seized the moment and started their own shop, HalseyPoint in 2018. To get HalseyPoint off the ground, they built on their resilience, the relationships they curated, and a lengthy track record of success. The launch of HalseyPoint was fully embraced and celebrated by the street. And now, the business is thriving. About LynnPrior to founding HalseyPoint, Lynn was the Co-Head and Senior Managing Director of the Leveraged Debt Group at Columbia Management Investment Advisers, LLC (and its predecessor companies) for 18 years from April of 2000 through March 2018. She was responsible for running the leveraged debt business of Columbia which had approximately $9 billion in assets under management at its peak, including over $8 billion in CLO vehicles. She also was the lead portfolio manager for all funds and chair of the credit committee.Lynn previously worked as a Managing Director at AIG/ SunAmerica for nine years where she was responsible for the management and trading of over $3 billion of assets across a variety of fixed income asset classes.She began her career as a banker covering private equity sponsors on the west coast for Security Pacific Merchant Bank.Lynn received a BA in Economics with distinction from Northwestern University and an MBA from the J.L. Kellogg Graduate School of Management at Northwestern. She is a member of the Phi Beta Kappa academic honor society.About YvonnePrior to founding HalseyPoint, Yvonne was the Co-Head and Senior Managing Director of the Leveraged Debt Group at Columbia Management Investment Advisers, LLC (and its predecessor companies) for 18 years from April of 2000 through March 2018. She was instrumental in building the platform to be one of the early CLO managers recognized for consistency and performance. Prior to joining Columbia, Yvonne was a portfolio manager at SunAmerica/AIG for seven years where, among other responsibilities, she developed a structured finance expertise in CLO mezzanine investments beginning in the early 1990s. In addition to managing a $2 billion CLO mezzanine portfolio, she expanded that focus from investing to issuing CLOs as a manager, helping to raise and create the first SunAmerica-managed CLO named Galaxy in 1999.Prior to SunAmerica, Yvonne started her career in the bank training program at Irving Trust Bank and then subsequently worked at GE Capital in a loan underwriting and origination role.Yvonne received a BA from Wellesley College and an MBA from the Wharton School at the University of Pennsylvania.

Larry Sloan has served as CEO of the American Industrial Hygiene Association (AIHA) since October 2016.Prior to this, he served as CEO for seven years at SOCMA, a trade association representing the interests of the US specialty chemical industry.  Larry started his non-profit career at the Adhesive and Sealant Council, a trade association representing adhesive and sealant manufacturers, and was promoted to his first CEO role there in January 2005. He led this group for five years.   Larry began his career as a chemical engineer at Air Products and later worked for Nalco Chemical Company in marketing, manufacturing, and sales capacities. Larry earned a BS degree in chemical engineering from the University of Pennsylvania and later graduated from Northwestern University's Kellogg Graduate School of Management where he earned his MBA.   For more than 20 years Larry has been an active member of the American Society of Association Executives (ASAE).  In 2006, he earned his Certified Association Executive (CAE) credential, and in 2021 he was appointed a Fellow (FASAE).  He currently serves as a mentor under their Young Professionals and Ready Me professional skills development programs.   He has spoken at various non-profit community events over the years, hosted by ASAE, CESSE (Council of Engineering and Scientific Society Executives), and others.  He currently serves as a member of the CESSE Board of Directors.   Prior volunteer leadership roles include serving on the ASAE Research Committee (elected chair in 2020); as a board member (chair in 2012) of the National Association of Manufacturers Council of Manufacturing Associations; and as a board member of the Chemical Educational Foundation.

Episode Summary: In today's episode of Blasphemous nutrition, Health Coach Carolyn shares her personal journey towards becoming an advocate for walking as a powerful tool for improving health. Raised by a health-conscious mother, Carolyn initially rebelled against her upbringing and believed that her health was not affected by her lifestyle choices. However, after being diagnosed with IBS and experiencing the challenges of balancing work and motherhood, Carolyn began walking as a way to manage her stress and improve her overall well-being.  In their conversation, Aimee and Carolyn discuss the benefits of walking and rebelling against the all-or-nothing notion of change and encourage making small, sustainable changes to improve health. Guest Bio:Carolyn Cohen graduated from Brown University, and has an MBA from the Kellogg Graduate School of Management at Northwestern.  After working 10 years in consumer packaged goods marketing, Carolyn faced a chronic illness diagnosis, and was able to heal from it. Realizing how much power we hold over our own health trajectory, she re-focused her career path, and became a health coach in 2009. Since that time, Carolyn Cohen has seen countless clients struggle with making behavior changes. They often believe they must shoot for the stars, and abandon life as they formerly knew it. Carolyn helps them mine the health gold that's in the smaller, more doable changes. As a wellness guide, whether she's in your ears via her Wellness While Walking podcast or she's across the desk in a coaching session, Carolyn gently educates and encourages you, taking you from fine to fabulous!Key Takeaways:Walking can be a powerful tool for improving health and well-being, even in small increments of time.It is important to find joy in movement and choose activities that align with individual interests and values.Making small, sustainable changes to daily routines, such as walking after meals or incorporating movement into everyday tasks, can have a significant impact on overall health.Walking provides an opportunity for mindfulness and connection with the surrounding environment.Multitasking during walks, such as taking photos or engaging with others, can enhance the experience and make it more enjoyable. Notable Quotes:"Walking can be fun, it can be varied, and it doesn't have to feel extreme. It doesn't have to be something out of the realm of what we do already." - Carolyn Cohen"Walking is one of those incredible opportunities to pair something else along with it. It can be used to check off other boxes and not simply walking." - Carolyn CohenResources:Photography by: Dai Ross Photography Podcast Cover Art: Lilly Kate Creative Blasphemous Nutrition on SubstackWork with AimeeConnect with Carolyn:InstagramWellness While Walking Podcast

My guest today on The Courage of a Leader podcast is Larry Keeley. We delved into some thought-provoking concepts and practical steps to fuel innovation.In this episode, Larry addresses the inherent fears associated with innovation, both for young innovators and senior leaders who sponsor it. By establishing well-governed, well-led, and senior executive-sanctioned frameworks for innovation, these fears can be overcome.This is not an episode to miss! About the Guest:With forty years of work as an innovation scientist, Larry Keeley works to make innovation much more effective. He is the co-founder of Doblin, the leading global firm focused on innovation effectiveness—over 700 alumnae in that network. Professor at IIT Institute of Design for 39-years, first university in the world to grant PhDs in design and innovation; Board member and leading employer of graduates. Professor at Kellogg Graduate School of Management, MMM Program for 12-years; named Distinguished Professor there, 2015. He has helped educate more than 5,900 Masters or PhD students as innovators—a huge global network ofcolleagues. Author of #2 all-time best-selling book on innovation, Ten Types of Innovation, translated into 15- languages. Selected by Business Week as one of the top seven global ”gurus” of the innovation field. Then separately selected by them as one of the top 27-designers in the world. Currently Keeley runs Keeley Innovations LLC, his own private consultancy, advising individuals and firms that he believes can change the world. This gives him complete independence, with no teams, firms, methods, or follow-on activities he is obligated to represent. About the Host:Amy L. Riley is an internationally renowned speaker, author and consultant. She has over 2 decades of experience developing leaders at all levels. Her clients include Cisco Systems, Deloitte and Barclays.As a trusted leadership coach and consultant, Amy has worked with hundreds of leaders one-on-one, and thousands more as part of a group, to fully step into their leadership, create amazing teams and achieve extraordinary results. Amy's most popular keynote speeches are:The Courage of a Leader: The Power of a Leadership LegacyThe Courage of a Leader: Create a Competitive Advantage with Sustainable, Results-Producing Cross-System CollaborationThe Courage of a Leader: Accelerate Trust with Your Team, Customers and CommunityThe Courage of a Leader: How to Build a Happy and Successful Hybrid TeamHer new book is a #1 international best-seller and is entitled, The Courage of a Leader: How to Inspire, Engage and Get Extraordinary Results.www.courageofaleader.comhttps://www.linkedin.com/in/amyshoopriley/ Links mentioned in the podcastThe Inspire Your Team assessment (the courage assessment) - https://courageofaleader.com/inspireyourteam/Ten Types of Innovation: The Discipline of Building Breakthroughs (book) by Larry Keeley - https://www.amazon.com/Ten-Types-Innovation-Discipline-Breakthroughs-ebook/dp/B00DZLBHU8Innovators Dilemma (book) by Clayton Christensen - https://www.amazon.com/Innovators-Dilemma-Technologies-Management-Innovation-ebook/dp/B012BLTM6I Thanks for listening!Thanks so much for listening...

Welcome to Season 5 of the podcast. In this first episode,  It's my great pleasure to introduce Professor Jill Klein. In addition to numerous other hats and talents Jill is Professor  of Marketing at Melbourne Business School and Professorial Fellow in Medical Education at Melbourne Medical School.     Jill received her Ph.D. in Social Psychology from the University of Michigan in 1990 and since then has taught at top universities and business school around the world. She joined the faculty at Kellogg Graduate School of Management, Northwestern University in 1990, and the faculty at INSEAD in 1997.She has also been a visiting scholar at Duke University, Helsinki School of Business and Economics, and University of Texas at Austin. She joined Melbourne Business School in 2009, and Melbourne Medical School in 2015.      Jill teaches Resilience and Well-Being, Managerial Judgment, Clinical Decision Making, and Leadership. Her research interests are in resilience and well-being, decision making, business ethics and ethical consumption. She has published widely, including in the British Medical Journal, Medical Education, Management Science, Journal of Consumer Researchand Harvard Business Review. She authored the book, We Got the Water: Tracing My Family's Path Through Auschwitz, and is currently writing (with Dr. Vinita Rane), Thriving in Medial School, a well-being book for medical students. She often appears in the media, and has had pieces published in The Guardian, Australian Financial Review, The Age and Huffington Post.     I had the great privilege of being taught Managerial Judgement  by Jill at the Melbourne Business School in late 2023 and was struck by  the importance of her work and applied expertise in healthcare. This work is very much aligned with this podcast mission and listenership. In this conversation we hear more about Jill's early career experiences and how these may have contributed to her subsequent trajectory, research interests and teaching mission. I was particularly keen to explore her work around clinical error and growth mindset. Jill fields some tough questions from me on the topic of resilience in healthcare and we are treated to a taster of her upcoming book "Thriving in Medical School".  I anticipate a successful "Thriving In..." book series to come.  Thank you Professor Klein, I very much hope there will be part 2 to this episode at a later date.This episode of dedicated to incredible life and memory of Gene Klein, Jill's dear and    beloved best friend and father.Links/References/ Contacts:https://mbs.edu/faculty-and-research/faculty/jill-kleinhttps://www.amazon.com.au/We-Got-Water-Tracing-Auschwitz/dp/0615806961 Growth mindset YouTube series for medical studentshttps://youtu.be/YdmlTf8zTYQ?si=tpUvLC56C2fXLHeMJill's Recommendations:https://ig.ft.com/sites/business-book-award/books/2023/winner/right-kind-of-wrong-by-amy-edmondson/The Mind Full Medic Podcast is proudly sponsored by the MBA NSW-ACT Find out more about their service or donate today at www.mbansw.org.auDisclaimer: The content in this podcast is not intended to constitute or be a substitute for professional medical advice, diagnosis or treatment. Always seek the advice of your doctor or other qualified health care professional. Moreover views expressed here are our own and do not necessarily reflect those of our employers or other official organisations.

Welcome to our 2023 Higher Education Year in Review and Predictions for 2024 podcast. In this episode, Deborah Maue, Aurora University Senior Vice President for Enrollment and Marketing, and Dr. Drumm McNaughton review last year's 2023 higher education predictions and provide insights into the unexpected developments and what to prepare for in 2024. Review of the 2023 Predictions Continuing Decline in College Enrollment: The prediction of a continued decline in college enrollment in 2023 was accurate. Factors like federal COVID assistance played a significant role in sustaining institutions, especially smaller colleges. This trend particularly impacted institutions with enrollments under 1500 students, leading to various strategic responses like forming alliances and sharing resources. Colleges and Universities Mergers and Closures: The predicted trend of colleges and universities closing or merging continued in 2023, driven by financial pressures and declining enrollments. Strategic collaborations and adaptations were seen as a response to these pressures. Hybrid and Fully Online Models: There was an increase in hybrid and fully online educational models in colleges and universities in 2023. However, the oversupply of these programs relative to student demand posed sustainability concerns. Political Impact in Higher Ed: The impact of politics on higher education continued to be significant in 2023. The political climate influenced campus environments and policies across various states. Growth of Alternative Credentials: The higher education sector saw substantial growth in alternative credentials. However, challenges in institutional implementation and market recognition persisted. Increasing Complexity of University Presidents' Roles: The complexity of the roles of university presidents escalated, with presidential tenures decreasing. This trend points to growing pressures and responsibilities in higher education leadership. Technology Driving Innovation: Technology, especially AI, continued to drive innovation in higher education. However, challenges remain in fully integrating these technologies. Faculty Governance: Faculty governance in higher education adapted to new challenges, showing resilience and flexibility in the face of changing governance demands.   2023 Higher Education Year in Review: Unexpected Developments in Higher Education Intensified political involvement, especially in states like Florida. Leadership changes at major universities reflect the growing politicization in university governance. Declining public confidence in higher education, with the perceived gap between skills acquired by graduates and employer expectations. Dr. Drumm McNaughton's Top 10 Higher Education Predictions for 2024 → Read the extended show summary and the show transcript on our website →   About Our Special Host Deborah Maue Deb Maue is the Aurora University Senior Vice President for Enrollment and Marketing. Over the past 25+ years, Deborah has been helping organizations drive growth through strategic consumer branding, product development, and organizational development. She has led highly successful consumer marketing initiatives in highly complex organizations in consumer packaged goods, higher education, and agency settings. After getting an MBA at Northwestern's Kellogg Graduate School of Management, Deb started her career at Helene Curtis (now part of Unilever), leading and developing innovative products for large and successful brands, including Axe, Dove, Degree, and Suave. Since transitioning to the higher education sector, she has developed and implemented unique and compelling brand stories for large public and private universities, healthcare universities, law schools, and independent K-12 schools. She is a sought-after speaker and regular contributor to Inside Higher Ed's Call to Action blog.   About Our Podcast Guest Dr. Drumm McNaughton, CEO of The Change Leader, is a consultant to higher education institutions in governance, accreditation, strategy and change, and mergers. To learn more about his services and other thought leadership pieces, visit his firm's website: https://changinghighered.com/.  The Change Leader's Social Media Links  LinkedIn: https://www.linkedin.com/in/drdrumm/ Twitter: @thechangeldr Email: podcast@changinghighered.com   #ChangingHigherEd  #HigherEd2023Review #HigherEducation  

In this episode of WiseTalk, CEO and Executive Leadership Coach Sue Bethanis hosts the world's leading expert in the rapidly growing field of trust repair, Dr. Peter H. Kim.Dr. Kim is a Professor of Management and Organization at the University of Southern California's Marshall School of Business. He received his Ph.D. in Organizational Behavior from Northwestern University's Kellogg Graduate School of Management. His research concerns the dynamics of social misperception, with a particular focus on the violation and repair of trust. This research has been published in the world's leading scientific journals across management and psychology. It has received ten national/international awards from organizations, including the American Psychological Association, the Academy of Management, and the International Association for Conflict Management. This work has also been supported by multiple funding sources, including the National Science Foundation, the State Farm Foundation, and the Kellogg Dispute Resolution Research Center.Dr. Kim has also drawn on his expertise to develop and teach some of the most highly rated M.B.A. courses and executive training programs at his University. Popular accounts of his research have appeared in The Atlantic, New York Times, Washington Post, The Economist, and National Public Radio. His first book, How Trust Works: The Science of How Relationships are Built, Broken, and Repaired, is based on two decades of his original research on trust repair.

Julie Ryan McGue is an author, a domestic adoptee, and an identical twin. She writes extensively about finding out who you are, where you belong, and making sense of it.Julie's debut award winning memoir Twice a Daughter: A Search for Identity, Family, and Belonging  (https://juliemcgueauthor.com/books/)(She Writes Press) came out in May 2021. It is the story of her five-year search for birth relatives. Her weekly blogs That Girl, This Life  (https://juliemcgueauthor.com/blog/)and monthly column at The Beacher focus on identity, family, and life's quirky moments. Born in Chicago, Illinois, Julie received a BA from Indiana University in Psychology. She earned a MM in Marketing from the Kellogg Graduate School of Business, Northwestern University. She has served multiple terms on the Board of the Midwest Adoption Center and is an active member of the American Adoption Congress.Julie splits her time between Northwest Indiana and Sarasota, Florida. She is the mother of four adult children and has three grandsons. If she's not at her computer, she's on the tennis court, or out exploring with her Nikon. Julie is currently working on a collection of personal essays. https://www.pulledbytheroot.com/

Do you feel you belong? Being relinquished disrupts our attachment and reunion doesn't always fix that. Julie shares how she found the feeling of belonging and peace when reunion didn't go to plan. Here's the link to the article Julie mentions https://www.thebeacher.com/2023/pages/110223p.html#lg=1&slide=19Julie Ryan McGue is an author, a domestic adoptee, and an identical twin. She writes extensively about finding out who you are, where you belong, and making sense of it.Julie's debut award winning memoir Twice a Daughter: A Search for Identity, Family, and Belonging (She Writes Press) came out in May 2021. It is the story of her five-year search for birth relatives. Her weekly blogs That Girl, This Life and monthly column at The Beacher focus on identity, family, and life's quirky moments. Born in Chicago, Illinois, Julie received a BA from Indiana University in Psychology. She earned a MM in Marketing from the Kellogg Graduate School of Business, Northwestern University. She has served multiple terms on the Board of the Midwest Adoption Center and is an active member of the American Adoption Congress.Julie splits her time between Northwest Indiana and Sarasota, Florida. She is the mother of four adult children and has three grandsons. If she's not at her computer, she's on the tennis court, or out exploring with her Nikon. Julie is currently working on a collection of personal essays.https://juliemcgueauthor.com/https://www.facebook.com/juliemcguewrites/https://www.linkedin.com/in/julie-ryan-mcgue-a246b841/https://www.instagram.com/julieryanmcgue/https://twitter.com/juliermcgue

Andrew is a Senior Economist and a member of the First Trust Economics Team that Bloomberg has ranked as one of the top forecasters of the U.S. economy over the past several years. At First Trust, Andrew is responsible for analyzing economic indicators, writing economic commentaries, and producing articles on the First Trust Economics Blog. Andrew provides research and analysis to Chief Economist Brian Wesbury, Chief Market Strategist Bob Carey, and First Trust CEO Jim Bowen. Cogent's 2017 Survey of Advisors rated First Trust's thought leadership material as number one for most read and most shared by financial professionals with colleagues or clients. Andrew received an MBA from Northwestern University's Kellogg Graduate School of Management and a BA in Business and Economics from Hope College.

Vicki Regan Stauber spent 12 years in Marketing and Business Development roles before earning her MBA at Northwestern University. After years in corporate roles, she turned her attention to a long-held interest in fashion. During her tenure in fashion she founded Sway Jewelry in 2001 and then took on a role as a creative director/buyer at a high-end luxury retailer. Years later, Vicki returned to Northwestern to work in Admissions and special projects at the Kellogg Graduate School of Management. During her time there, she supported the work of Sally Blount in her white paper “Getting More Women into the C-Suite Means Keeping Them in the Talent Pipeline.” The disruption of the pandemic returned her to the ever-present reflection: “What do I love to do? What am I good at? Designing, Styling, Discovering, Curating, and Sharing.” These questions and answers led her back to her love of fashion, this time with a slight name change, Sway Into It.When not designing jewelry, mining fashion sites, hunting for an elusive pair of shoes in her size, or styling & personal shopping, she enjoys Pilates, walks in the Botanic Gardens, art, travel, and visiting her kids - one on the West Coast, one on the East Coast.In this episode, Nada sits down with Vicki to discuss why she returned to her jewelry business, why it took her so long to get into fashion in the first place and what she would do differently in her career. Vicki shares the importance of zigging and zagging and eventually seeing the dots connect to provide a foundation for the work we want to do. Check out swayintoit.com. Vicki recommends adding The Nigerwife by Venessa Walters to your bookshelf. And be sure to read Sally Blount's white paper, “Getting More Women into the C-Suite Means Keeping Them in the Talent Pipeline.” Follow on Instagram: @swayintoitPlease follow us at @thisislibertyroad on Instagram--that's where we hang out the most and connect with our community. And please rate and review this podcast. It helps to know if these conversations inspire and equip you to consider what's now and what's next. Hosted on Acast. See acast.com/privacy for more information.

Stacy Devine knew from a young age that the field of finance was for her. While other kids were playing, she enjoyed balancing a budget. She even loaned her sister money and charged her interest. She later took an accounting class in school and was hooked. She pursued her CPA and started her career at Ernst & Young as a certified public accountant. Today, Stacy finds herself as the Chief Investment Officer of RPTC, a private trust company for a single family office in Chicago. With all of her accomplishments, it might be hard to believe that Stacy was always underestimated and had to prove herself over and over again. She took this as an opportunity to build her courage. She finds great strength from her solid network of support (including her husband and friends) to keep finding the courage to claim her seat at the table. When Stacy needs to make a decision, she always tries to discover what are the opposite opinions. She'll seek out other points of view and then see how they affect her convictions. She also knows the importance of just stopping what she's doing and having fun with her family because there will always be a million things to do. She has learned to give up on perfection to have more balance in her life. Join us as Stacy shares her wisdom as a leader in her field. Visit gobeyondbarriers.com, where you will find show notes and links to all the resources in this episode, including the best way to get in touch with Stacy. Highlights: [02:59] Stacy's path to finance [08:47] Asking for what you deserve [14:23] Making important decisions [16:44] Creating an open environment for debate [18:30] Taking a break from work [22:59] Building relationships [27:42] Staying grounded [31:05] Continuing to grow professionally and personally [32:01] Lightning round questions Quotes: “Community has been essential throughout my career.” – Stacy Devine “It's important for me to really see both sides of an argument and understand it, and then I can challenge my view to have much better convictions in the decisions I'm making.” – Stacy Devine “I'm basically an introvert pretending to be an extrovert.” – Stacy Devine Lightning Round Questions: What book has greatly influenced you? - “Cloud Cuckoo Land” by Anthony Doerr What is your favorite inspiring quote or saying? - What makes you different will make you stand out. You will be remembered. What is one word or moniker you would use to describe yourself? - Yin/yang. What is one change you've implemented that made your life better? - I stopped reaching for perfection. What power song would you want playing as you walk out onto a stage? - “Unstoppable” by Sia About Stacy Devine: Stacy Devine is the Chief Investment Officer of RPTC Inc, a private trust company for a single family office in Chicago. Prior to joining RPTC, Stacy was a Managing Director and Head of Investments for the Midwest and Canada Regions of Citi Private Bank, working with a range of ultra-high net worth families in the U.S., Canada and Asia. Before Citi, Stacy was an investment advisor at Barclays (Lehman) and a member of the Portfolio Advisory Group at Goldman Sachs, covering the Midwest region. Prior to her focus on ultra-high net worth individuals and family offices, Stacy was a senior sell-side equity analyst with Deutsche Bank and First Analysis Corporation, specializing in environmental and industrial service sectors. In this role, Stacy was ranked as Wall Street Journal's #1 All-Star Analyst for two years running and was recognized in Institutional Investor's 2001 All American Research Team. She started her career at Ernst & Young as a certified public accountant. Stacy holds a BS summa cum laude from Drake University and an MBA with honors from Kellogg Graduate School of Management. In the Chicago community, Stacy is a member of the Advisory Board for Invest for Kids. She is also a member of the CFA Institute and the CFA Society of Chicago. Links: LinkedIn: https://www.linkedin.com/in/stacy-devine-cfa-0259646/

There's a lot of talk about supporting underrepresented emerging managers and founders in the startup space, and it's refreshing to speak with someone that's moving beyond talk into action. Our guest today is Courtney McCrea, Co-Founder and Managing Partner of Recast Capital, a platform supporting and investing in emerging managers in VC. Recast is investing that emerging managers, particularly those with diverse partnerships, that represent both an underserved market and overlooked business opportunity, and is taking a new approach to meeting the need.This was a great conversation where we talked about the state of the market, why diversity is more than just window dressing, as well as the challenges women and underrepresented GPs face in raising venture funds and how Recast Accelerate is making a difference.Also John Ruffolo is back to talk tech headlines with Matt Cohen.About Courtney McCrae:Courtney is Co-Founder and Managing Partner of Recast Capital, an investment platform established to invest in and support emerging managers in venture capital, with a preference for diverse partnerships.Prior to co-founding Recast, Courtney was a Managing Director of Weathergage Capital, a fund of funds that provided its clients with access to premier venture capital, growth equity, and micro-VC partnerships. She also was involved in various private equity and finance roles at Weston Presidio, Silver Partners, Sterling Stamos, PPM America, and GE Capital.Courtney has an M.B.A. from the Kellogg Graduate School of Management and a B.A. from the University of Illinois, Champaign-Urbana. She is a member of the Kauffman Fellows Class 3.In this episode we discuss:(01:13) News rundown with John Ruffolo(18:38) Courtney McCrea's journey to becoming an investor(20:43) How Weathergauge supprt of emerging managers evolved(22:07) Why emerging managers can outperform established managers(24:06) The decision to launch Recast(27:27) DEI stats for venture were and how is it starting to change(29:50) Early successes for Recast(32:10) How she evaluates potential managers(34:17) Advice she gives to her managers(36:10) What LPs are thinking about in the current market(41:42) Explaining risk and mitigation to her LPs(44:35) How the growth-quity landscape has evolved(46:40) What type of reporting and communication she likes to see(47:46) Advice to new investors looking to get into venture(49:46) The best career advice she's received(50:43) What keeps Courtney motivatedFast Favorites:*

EPISODE 1652: In this KEEN ON show, Andrew talks to Peter Kim, author of HOW TRUST WORKS, about the science of how relationships are built, broken, and repaired. Dr. Peter H. Kim is a Professor of Management and Organization at the University of Southern California's Marshall School of Business. He received his Ph.D. in Organizational Behavior from Northwestern University's Kellogg Graduate School of Management. Dr. Kim's research concerns the dynamics of social misperception, with a particular focus on the violation and repair of trust. This research has been published in the world's leading scientific journals across management and psychology. It has received ten national / international awards from organizations including the American Psychological Association, the Academy of Management, and the International Association for Conflict Management. This work has also been supported by multiple funding sources including the National Science Foundation, the State Farm Foundation, and the Kellogg Dispute Resolution Research Center. Based on his research, Dr. Kim has been invited to give talks at business schools, companies, and other organizations around the globe. He has also drawn on his expertise to develop and teach some of the most highly rated M.B.A. courses and executive training programs at his University. Popular accounts of his research have appeared in The Atlantic, The New York Times, The Washington Post, The Economist, NPR, and more. His first book, based on two decades of his original research on trust repair, will be published by Flatiron Books in August 2023. Named as one of the "100 most connected men" by GQ magazine, Andrew Keen is amongst the world's best known broadcasters and commentators. In addition to presenting KEEN ON, he is the host of the long-running How To Fix Democracy show. He is also the author of four prescient books about digital technology: CULT OF THE AMATEUR, DIGITAL VERTIGO, THE INTERNET IS NOT THE ANSWER and HOW TO FIX THE FUTURE. Andrew lives in San Francisco, is married to Cassandra Knight, Google's VP of Litigation & Discovery, and has two grown children. Learn more about your ad choices. Visit megaphone.fm/adchoices

Larry Keeley is a renowned innovation scientist with over forty years of experience in the field. He co-founded Doblin, the leading global firm focused on enhancing innovation effectiveness, and has nurtured over 700 alumni through the organization. Keeley's contribution to academia is noteworthy. He has been a professor at the IIT Institute of Design for 39 years, a board member, and a leading employer of graduates. He also held a professorship at the Kellogg Graduate School of Management's MMM Program for 12 years, earning the title of Distinguished Professor in 2015. Throughout his academic career, he has helped educate over 5,900 Masters or PhD students as innovators, creating a robust global network of colleagues. Adding to his achievements, Keeley is the author of the #2 all-time best-selling book on innovation, "Ten Types of Innovation," which has been translated into 15 languages. His outstanding contributions to the field earned him recognition by BusinessWeek as one of the top seven global "gurus" of the innovation field, and one of the top 27 designers in the world. In 2021, the Bankinter Foundation in Spain appointed Keeley as the new director of their famed Future Trends Forum, which is conducted bi-annually in Madrid. Despite retiring as a Managing Director from Deloitte (the firm that now owns Doblin) in late 2020, Keeley continues his mission to advance the methods of innovation through research, currently with Keeley Innovations LLC. Keeley is a frequent lecturer on innovation at the Berkeley Haas Business School and an EY Luminary, where he works on cases and capabilities that are reshaping the field of innovation. His dedication and passion continue to have a profound impact on the innovation landscape. https://nexuspmg.com/

Ellen Carr has over two decades of experience as a high-yield bond portfolio manager, most recently at Barksdale Investment Management (BIM), a majority-women-owned, institutional fixed-income investment management firm based in Nashville, TN. Ellen has been an adjunct professor of finance at Columbia Business School since 2012, where she teaches courses on the credit markets and cash flow modeling. Ellen is also a writer. She is a frequent contributor to the Financial Times and the co-author of a book on women in investment management published in the summer of 2021 by Columbia University Press. Ellen has an MBA from the Kellogg Graduate School of Management at Northwestern University. She received her B.A. from Harvard in 1994, where she graduated magna cum laude and Phi Beta Kappa. Ellen splits her time among Asheville, North Carolina, rural Tennessee, and New York. She has a son, a cat, and a pandemic puppy. Katrina Dudley, CFA, CAIA, is a Senior Vice President, Portfolio Manager, and Investment Strategist at Franklin Templeton Investments, one of the world's largest asset managers, where she co-manages the Franklin Mutual Global Discovery and Franklin Mutual European Funds.  Ms. Dudley has a passion for advocating for women in finance and business.  She is the author of the introduction to the Vault Career Guide to Mutual Funds. She co-authored with Columbia Business School Adjunct Professor Carr “Undiversified: The Big Gender Short in Investment Management.”  Ms. Dudley is a frequent market commentator on Bloomberg and other media outlets. Ms. Dudley earned an M.B.A. from New York University's Stern School of Business, a Law degree (with first-class honors) and a Commerce degree from Bond University (Australia), and an Associate of Science degree (Computer Science) from the University of the People. She is a Chartered Financial Analyst (CFA) Charter holder and a Chartered Alternative Investment Analyst (CAIA).   Today, we talk about: 1)   Ellen and Katrina's childhood, upbringing, and career path. 2)   Their book Undiversified: The Big Gender Short in Investment Management 3)   The need and ways to include more women in the investment profession. 4)   Ellen and Katrina share their research and advice on creating more opportunities for women, from entry-level analyst roles to paths to promotion and retention later on. 5)   We discuss how women are more risk aware, not necessarily risk averse. 6)   Stay tuned until the end, when we talk about how this challenge of being undiversified when it comes to gender can be the next opportunity for investment management as a profession and industry. The book - find it here. ---- ⁠⁠⁠⁠Crisis Investing: 100 Essays⁠⁠⁠⁠ - My new book. To get regular updates and bonus content, please sign-up for my substack: ⁠https://bogumilbaranowski.substack.com/⁠ Follow me on Twitter: ⁠⁠⁠⁠⁠⁠⁠https://twitter.com/bogumil_nyc⁠⁠⁠⁠⁠⁠⁠ Learn more about ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Talking Billions⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Learn more about ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Bogumil Baranowski⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Learn more about ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Sicart Associates, LLC⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. Read ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Money, Life, Family⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ - the book. NEVER INVESTMENT ADVICE. IMPORTANT: As a reminder, the remarks in this interview represent the views, opinions, and experiences of the participants and are based upon information they believe to be reliable; however, Sicart Associates nor I have independently verified all such remarks. The content of this podcast is for general, informational purposes, and so are the opinions of members of Sicart Associates, a registered investment adviser, and guests of the show. This podcast does not constitute a recommendation to buy or sell any specific security or financial instruments or provide investment advice or service. Past performance is not indicative of future results. More information on Sicart Associates is available via its Form ADV disclosure documents available ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠at adviserinfo.sec.gov⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. --- Send in a voice message: https://podcasters.spotify.com/pod/show/talking-billions/message

In this podcast episode with Michael Ribero, Chief Subscriptions Officer at The Washington Post, we talk about challenges and opportunities that arise when transitioning from print to digital.Michael shares his experience on how the new brand is succeeding through some time-sensitive challenges such as the COVID-19 pandemic and privacy policy changes.Listen to the full episode to learn about The Washington Post's success secrets including:  Running paper and digital subscriptions on distinctive strategiesAccommodating and understanding changes in technologyOptimizing the payment process for readers on Apple devicesPersonalizing with ethical considerationsFor noteworthy quotes and key takeaways from the episode, read the article -  Transitioning to Digital: Insights from Michael Ribero of The Washington PostEpisode Topics at a GlanceMichael Ribero's transition to the media industry Washington Post's strategy for transitioning to digital and personalization efforts. Delivering personalized experiences Using data to inform monetization strategies Experimenting with pricing and cross-selling strategies AI in Journalism Reducing Friction for Subscriptions.More about MichaelMichael Ribero is the Chief Subscriptions Officer for The Washington Post. In this role, Michael oversees The Post's digital subscriptions business and plays a vital role in The Post's international growth. Michael works across marketing, product, analytics, finance, and news.Michael Ribero joins The Washington Post from Paramount+, where he was Vice President of Global Marketing. Previously, he was General Manager of Brand and Media at Sling TV. Prior to Sling, Michael worked at Visa, and, earlier in his career, he was a technology investment banker, advising emerging technology companies on key growth initiatives.Michael graduated from Dartmouth College with a degree in Engineering modified by Economics and an MBA from Kellogg Graduate School of Business at Northwestern University.  He is happiest with his wife and 4 children either wearing cowboys or skiing in Colorado.Michael's LinksMichael's LinkedInThe Washington Post on App StoreThe Washington Post on GoogleTimestamps[00:01:07]: Michael Ribero's transition to media industry[00:03:16]: Washington Post's strategy for transitioning to digital and personalization efforts. [00:10:34]: Delivering personalized experiences[00:13:27]: Using data to inform monetization strategies[00:16:09]: Experimenting with pricing and cross-selling strategies[00:21:15]: AI in Journalism[00:23:39]: Reducing Friction for Subscriptions.

About Kevin Grabenstatter:Kevin Grabenstatter is a Managing Director in L.E.K. Consulting's San Francisco office. Kevin joined L.E.K. in 2006 and focuses on strategy and growth for health systems, physician practices, and other providers, value-based care delivery, and emerging technologies/HCIT. He advises clients on critical strategic issues across the healthcare value chain. Kevin formerly held strategy roles at Kaiser Permanente, where he was responsible for the design of strategic initiatives in areas such as care transitions, patient flow, and cost efficiency. His expert commentary has appeared in Managed Healthcare Executive.Kevin got his Bachelor of Science with Honors from the Pennsylvania State University and a Master's degree in Business Administration at the Stanford University Graduate School of Business.About Joe Johnson:Joe Johnson is a Managing Director and Partner, as well as the head of L.E.K. Consulting's New York office. Joe co-leads L.E.K.'s Healthcare Services practice and leads the Healthcare IT and tech-enables services sub-practice. He plays an instrumental role in helping senior executives across the industry develop and implement new strategies and provides M&A advisory support to address the changing healthcare landscape.Joe has more than 20 years of consulting experience managing and directing client engagements and has worked on a substantial number of strategic growth, operations, and commercial due diligence projects across the healthcare services industry. His expertise in the Healthcare Services practice includes payer and provider healthcare IT, digital health, government programs (Medicare, Medicaid), and post-acute care, among others. Joe's expert commentary has appeared in Harvard Business Review.Joe first joined L.E.K. in 2000 and returned after receiving his MBA from the Kellogg School of Management at Northwestern University. He graduated from Harvard University cum laude with a B.A. in Economics.Joe got a Bachelor of Arts in Economics at Harvard University and a Master's degree in Business Administration at the Kellogg Graduate School of Management at Northwestern University. Things You'll Learn:Healthcare systems currently face challenges that include inflationary and operational pressures, staffing shortages, and supply chain obstacles.Healthcare systems should also be thinking about how they can diversify their revenue streams.Patient experience needs to be as seamless and positive as possible.Precision medicine is a really interesting area to invest in, as technology, data, and insights can be used in a way where that can provide differentiated care for patients.Now that customer retailers have entered the healthcare industry, other health businesses should think of creative ways to give patients and consumers the experience these other industries have brought to them.Strategy is as much about what you should be doing as a company organization as well as what not.Resources:Connect with and follow Kevin Grabenstatter on LinkedIn.Connect with and follow Joe Johnson on LinkedIn.Follow L.E.K. Consulting on LinkedIn.Visit the L.E.K. Consulting Website!Listen to the episode on Consumer Retailers in the Healthcare Sector of L.E.K.'s Insight Exchange podcast here!Reach out to Kevin and Joe at Strategy@LEK.com

There are many ways to get exposure to real estate. Our guest, Jeffrey Olin, President & CEO of Vision Capital – managing approximately $1 billion solely focused on real estate investments – tells us how. In this episode, Brian and Jeff provide an introduction to the real estate asset class (Real Estate 101), different real estate investing options, the challenges of owning real estate directly, public vs. private real estate investing, and much more. Jeffrey Olin is a co-founder, CEO and has been a portfolio manager at Vision Capital for over 14 years. Mr. Olin brings ten years of direct corporate real estate experience and fifteen years of senior level investment banking experience to Vision Capital. Between 2003 and 2007, Mr. Olin served as the Managing Partner, Ontario and Head of Investment Banking with Desjardins Securities, a $200 billion financial institution. Mr. Olin was previously a Managing Director with HSBC Securities and a Vice President with Canaccord Capital. As an investment banker, Mr. Olin was the Lead Manager and M&A advisor with direct responsibility for over 70 transactions representing over $5 billion in value. He has served as a key advisor to many of Canada's leading corporate, institutional, and family-owned real estate enterprises on their global real estate investments. Prior to his investment banking career, Mr. Olin has ten years of direct real estate industry experience. Between 1985 and 1991, Mr. Olin was Vice President with Bramalea Limited in Dallas, Texas and Toronto, Canada. In addition, he worked with Olympia & York Developments Ltd., and the Parking Authority of Toronto. His experience in real estate includes acquisitions and dispositions, development, financing, leasing, operations, and planning and design. Mr. Olin has extensive corporate governance experience and expertise. He has served on the Board of Directors for numerous public companies as well as charitable and community boards. He has also acted as an expert witness on behalf of the Ontario Securities Commission and the Government of Canada Parliamentary Finance Committee. Mr. Olin is a graduate from the Kellogg Graduate School at Northwestern University in Chicago with an MBA. He received his Bachelor of Commerce degree from the University of Toronto. This Podcast was recorded on February 17, 2023. Timestamps: 0:00 Disclaimer & Intro 03:23 Real Estate 101 06:05 How big is the Real Estate market? 09:14 Why add Real Estate to your investment portfolio? 12:39 What are REITs? 16:38 Key terms for Real Estate Investors 21:33 Buying property vs. investing in public real estate 25:47 What are the biggest risks of Real Estate Investing? 28:59 How does Real Estate fair during inflation? 35:10 Why Vision was Founded 37:19 Public vs Private Real Estate Investing 43:57 Inefficiencies in the public markets 51:26 What does Vision hold? 56:11 What does the office building market look like? 1:03:06 Jeff's advice for real estate investors 1:04:02 Final thoughts 1:05:02 Outro

SUMMARY Bryan  Bennett is the Chief Leadership Innovation Officer for the Elite Leadership Academy Company and an adjunct professor at Northwestern University. He is the author of the Path to Elite Level Leadership, a philosophy of leadership based on the way athletes train.  Lawrence Brown and Bryan discussed the similarities between leadership and team sports, and Bryan shared his own origin story as a nerd before Nerds were cool. He believes that leadership should be approached in the same way that athletes approach their craft, with a continual focus on self-improvement.Bryan grew up with three brothers and had two parents who provided a great family environment. His mother was very educated and had graduated high school after two double promotions and was still valedictorian of the class. His father was more hands-on and they both worked hard to keep the family in private school. As a child, Bryan didn't participate in many extracurricular activities. However, this experience helped him to find himself and be brave enough to step out in front when he had to. Bryan was involved in nerdy activities like the science club, chess club, and National Honor Society.His father had an inspiring work ethic that he was exposed to from a young age. His mother also had a strong work ethic, and the family would often welcome any guests to join them for breakfast on Saturdays. Bennett went to Butler University for accounting and then worked for three years at Coopers and Lybrand in Cincinnati. He then moved back to Chicago to attend Northwestern's Kellogg Graduate School, majoring in marketing, finance, information systems, and management policy. Afterwards, he began working for Amoco in their financial analysis department. Bennett's journey demonstrates his strong work ethic and his drive to achieve success.Bryan  is a leadership expert who found his footing in his career when he became a database marketing executive. His job involved using his quantitative skills to analyze data and his strategic skills to consult clients on the strategies they should employ. His role required him to lead teams and this experience helped him transition into a leadership expert. Bryan attributes his leadership skills to his upbringing and his parents who led in different ways.TIMESTAMPS 00:01:58  Exploring Family Dynamics and Extracurricular Activities and Influence on Future Leadership 00:04:27   From Database Marketing Executive to Leadership Expert00:07:50  Leadership Development and Career Advancement00:12:00   Leadership Fundamentals: Vision, Living, Reflection, and Coaching00:14:21   Conversation on Leadership and Followership00:17:53   Leadership Assessment, Data Analysis, and Decision-making 00:20:31  Leadership Coaching and Managing Across and Upwards00:23:45  Generational Leadership Perspectives with Bryan Bennett00:25:10  Benefits of Having a Mentor and Sustained Relationships00:28:27  Message to Millennials and Gen Z on  Career Advancement and Finding an Advocate or SponsorMusic Credit: Music Credit: Music Credit: Maarten Schellekens - Riviera Follow us at: www.cascadingleadership.comlinkedin.com/in/drjimklinkedin.com/in/1lawrenceobrown

Our guest this week is Kathy Jones, the managing director and chief fixed-income strategist for the Schwab Center for Financial Research. Prior to joining Schwab in 2011, Jones was a fixed-income strategist at Morgan Stanley. Before that, she served as executive vice president of the debt capital markets division of Prudential Securities. Jones received her bachelor's degree in English literature from Northwestern University and her Master of Business Administration from Northwestern's Kellogg Graduate School of Management.BackgroundBioTwitter handle: @KathyJonesPractical Matters“U.S. Treasurys at ‘Critical Point': Stocks, Bonds Correlation Shifts as Fixed-Income Market Flashes Recession Warning,” by Christine Idzelis, MarketWatch, Jan. 23, 2023.“Don't Give Up on the 60/40 Portfolio, Says Schwab's Jones,” Bloomberg, Aug. 9, 2022.Interest Rates and Bonds“Bond Market Mess Is a Chance to Lock In Higher Yields for Longer,” by John Manganaro, Think Advisor, Sept. 29, 2022.“For Income Investors, Bond Yields Are Looking Attractive,” by Tom Lauricella, Morningstar.com, Sept. 15, 2022.“Has the U.S. Dollar Peaked?” by Kathy Jones, Charles Schwab, Jan. 12, 2023.“Fixed Income Outlook: Bonds Are Back,” by Kathy Jones, Charles Schwab, Dec. 6, 2022.Inflation“Fed Rate Hikes: Why Are Bond Yields Falling?” by Kathy Jones, Charles Schwab, July 6, 2022.“Inflation Is Real Enough to Take Seriously,” by Jeff Sommer, The New York Times, July 28, 2021.“Kathy Jones on Monitoring Inflation Risks,” TD Ameritrade Network.Rates and Recession“Is a Recession Coming Soon? This Bond Market Indicator Is Flashing Red,” by Mallika Mitra, Money, April 11, 2022.“Liftoff: Fed Hikes Rates, Signals More to Come,” by Kathy Jones, VettaFi, March 17, 2022.“Market Perspective: Slowdown or a Recession?” by Liz Ann Sonders, Kathy Jones, and Jeffrey Kleintop, Charles Schwab, Jan. 13, 2023.“The Fed's Policy Tightening Plan: a One-Two Punch,” by Kathy Jones, Schwab Moneywise, Jan. 11, 2022.

We are kicking off Rare Disease Month by talking about Wilson's disease, a rare, inherited disorder that causes copper to accumulate in the liver, brain, and other vital organs. It is inherited in an autosomal recessive pattern and left untreated, Wilson's disease can be fatal. Joining us for this episode is Naseem Amin, the CEO of Orphalan, which develops and commercializes treatments for orphan/rare diseases. In this episode we are exploring Wilson's disease and the FDA-approved treatment, Cuvrior. Naseem Amin (he/him) joined Orphalan in 2017 bringing thirty years of international industry experience in Research and Development, Corporate and Business Development, Venture Capital and Marketing. Naseem previously served as Executive Chairman at Arix Bioscience Plc, listed on the LSE, Venture Partner at Advent Life Sciences, Chief Scientific Officer at Smith and Nephew, where he oversaw corporate R&D, divisional manufacturing, QA/QC and product development functions. Prior to Smith and Nephew, Naseem led the business development functions at both Biogen and Genzyme Therapeutics. For both companies, he initiated and executed a number of transformative acquisitions and transactions.Naseem has also led the clinical development of five currently marketed therapeutic products. He started his career at Baxter Healthcare where he had executive roles in marketing, product development and clinical research. In addition to his role at Orphalan, Naseem currently serves as a board member and advisor to several not for profit organizations, and a publicly listed biotechnology company listed on the NASDAQ. Naseem is a qualified medical doctor, from the University College Medical School, London and has an MBA from Kellogg Graduate School of Management at Northwestern University.On This Episode We Discuss:Differences in metabolism in individuals with Wilson's disease (WD)How an accumulation of copper affects the body and body systems that are most affectedHow and when WD is diagnosedSigns that someone may have WDPathogenic variants (mutations) that have been identified in the ATP7B geneThe number of people affected by WDCurrent/standard treatment recommendations for people with WD and how Cuvrior differs from these treatmentsWhen Cuvrior, now FDA-approved, is officially launching in the USWhen it is appropriate for people with WD to start taking CuvriorLong-term studies and documented benefits of starting the medication earlier in lifeTo learn more about Wilson's disease and find patient information, visit Orphalon's wesbite.You can also learn more about Cuprior (the name of Cuvrior in Europe with EMA approval) here.Stay tuned for the next new episode of DNA Today on February 10th! New episodes are released every Friday. In the meantime, you can binge over 220 other episodes on Apple Podcasts, Spotify, streaming on the website, or any other podcast player by searching, “DNA Today”. Episodes since 2021 are also recorded with video which you can watch on our YouTube channel. DNA Today is hosted and produced by Kira Dineen. Our social media lead is Corinne Merlino. Our video lead is Amanda Andreoli. Our Outreach Intern is Sanya Tinaikar. Our Social Media Intern is Kajal Patel. And our Graphic Designer Ashlyn Enokian.See what else we are up to on Twitter, Instagram, Facebook, YouTube and our website, DNAToday.com. Questions/inquiries can be sent to info@DNAtoday.com. As a listener of DNA Today, you probably heard me talk about NIPT, non-invasive prenatal screening, that looks for extra or missing chromosome conditions during pregnancy. But did you know there is one that can also screen for recessive disorders (like cystic fibrosis) and fetal antigens? BillionToOne offers UNITY Screen, which does all this from one blood draw from a pregnant person. Visit unityscreen.com for more info. And stay tuned for our upcoming episodes with BillionToOne exploring non-invasive prenatal screening for recessive conditions and red blood cell fetal antigens (Sponsored)If you've been listening to DNA Today for a while, you probably know I am also a full time prenatal genetic counselor. Between that job, this podcast, and being a producer/host of other podcasts, I am pretty busy! To keep my energy up and stay productive I drink a decent amount of coffee. The new coffee I'm drinking is from Four Sigmatic. I'm really picky about my coffee, it's got to be bold, not watery. And I've been really happy with Four Sigmatic. Here's the difference from other coffees, it includes mushrooms, which I know sounds bizarre. I will admit I was hesitant, but you get health benefits and don't taste it. I like the immune system boost, as I often get sick in the winter months. So we teamed up with Four SIgmatic to get you 30% off using promo code “DNATODAY” redeem it at FourSigmatic.com, again that's FourSigmatic.com using code “DNATODAY” for 30% off! And let me know if you like it too! (Sponsored)

Join Dr. Aaron Ahuvia and myself as we discuss the powerful habit of sharing music with your friends. Dr. Ahuvia is a Professor of Marketing at the University of Michigan-Dearborn College of Business and the most widely published and cited academic expert on non-interpersonal love. He has published more than 100 academic papers and conference presentations, and his research has been quoted in the New York Times, The Wall Street Journal, Time, and Glamour. He has appeared on public radio talk shows as well as popular television shows such as the Oprah Winfrey Show. Dr. Ahuvia received a BA in Philosophy from the University of Michigan (1985) and a PhD in marketing from Northwestern's Kellogg Graduate School of Management (1993). He joined the faculty at the University of Michigan Ann Arbor's Ross School of Business in 1992 before moving to the Dearborn campus in 1999, where he has won awards for research and teaching. He also holds an appointment at the University of Michigan-Ann Arbor's Penny W. Stamps School of Art and Design. His book The Things We Love: How Our Passions Connect Us and Make Us Who We Are, was recently published by Little, Brown Spark.

Join Dr. Aaron Ahuvia and myself as we discuss the powerful habit of sharing music with your friends. Dr. Ahuvia is a Professor of Marketing at the University of Michigan-Dearborn College of Business and the most widely published and cited academic expert on non-interpersonal love. He has published more than 100 academic papers and conference presentations, and his research has been quoted in the New York Times, The Wall Street Journal, Time, and Glamour. He has appeared on public radio talk shows as well as popular television shows such as the Oprah Winfrey Show. Dr. Ahuvia received a BA in Philosophy from the University of Michigan (1985) and a PhD in marketing from Northwestern's Kellogg Graduate School of Management (1993). He joined the faculty at the University of Michigan Ann Arbor's Ross School of Business in 1992 before moving to the Dearborn campus in 1999, where he has won awards for research and teaching. He also holds an appointment at the University of Michigan-Ann Arbor's Penny W. Stamps School of Art and Design. His book The Things We Love: How Our Passions Connect Us and Make Us Who We Are, was recently published by Little, Brown Spark.

Conversations oil our understanding of other people's perspectives and our relationships with them. They also give us a comparison to our own perspective if we are brave enough to go there. Why does that matter? Because shifts in our perspective power the insights to help us to better lives with less anger and resentment. Listen in as we go deep on conversation, communication and much more.Julie Ryan McGue is an author, a domestic adoptee, and an identical twin. She writes extensively about finding out who you are, where you belong, and making sense of it.Julie's debut award winning memoir Twice a Daughter: A Search for Identity, Family, and Belonging (She Writes Press) came out in May 2021. It is the story of her five-year search for birth relatives. Her weekly blogs That Girl, This Life and monthly column at The Beacher focus on identity, family, and life's quirky moments. Born in Chicago, Illinois, Julie received a BA from Indiana University in Psychology. She earned a MM in Marketing from the Kellogg Graduate School of Business, Northwestern University. She has served multiple terms on the Board of the Midwest Adoption Center and is an active member of the American Adoption Congress.Julie splits her time between Northwest Indiana and Sarasota, Florida. She is the mother of four adult children and has three grandsons. If she's not at her computer, she's on the tennis court, or out exploring with her Nikon. Julie is currently working on a collection of personal essays.https://juliemcgueauthor.com/https://www.facebook.com/juliemcguewrites/https://www.linkedin.com/in/julie-ryan-mcgue-a246b841/https://www.instagram.com/julieryanmcgue/https://twitter.com/juliermcgueHere's a link to the podcast episode I refer to https://thriving-adoptees.simplecast.com/episodes/primally-wounded-or-fundamentally-unwoundable-with-nick-mabeyHere's a link to another episode on the primal wound  it's recording of a webinarhttps://thriving-adoptees.simplecast.com/episodes/whole-healing-my-primal-wound-webinar-recordingHere's a link to a video of that webinar https://www.youtube.com/watch?v=bnz7I7V_IOQ&t=162s

Dean Stanberry,CFM, LEED AP is 1st Vice-Chair, IFMA Global Board of Directors - A strategic facilities management volunteer leader who delivers forward-thinking solutions resolving operational problems. Dean has more than 20 years of broad-based experience in facility management, real estate portfolio management, process and quality improvement, procurement, workplace services, program and project management, space and occupancy planning, sustainability, information systems implementation, and critical environment operations. Prior to his ​recent role as Director – FM Services with Abraxas Energy Consulting, Stanberry worked at JLL, first on the Charles Schwab account and later on the Xerox account. Before that he worked at the Trizetto Group.   An accomplished communicator, he has presented at international FM conferences, published articles and is a contributing author of the book “Technology for Facility Managers.” Stanberry is an active industry advocate; serving in several volunteer leadership roles as a member of IFMA, the IFMA Foundation and the U.S. Green Building Council. He has been an active leader in the IFMA Denver Chapter serving as Treasurer, Vice President and President, earning him a Distinguished Member Award (2005) and Outstanding Contribution by a Professional Member (2006). He served on the IFMA Foundation Board of Trustees (2009-2014) and is currently the chair of the Environmental Stewardship, Utilities and Sustainability Community. Stanberry studied at the University of Washington, U.S. West Advanced Technical Education Program. He earned an Executive Programs Finance Certificate from Kellogg Graduate School at Northwestern University, a Project Management Certificate from Regis University and both a Process Management Certification and Quality Improvement Process Certification from QualTec. He earned his CFM in 2010.   Show Highlights Dean shares the core competencies of and clears up the difference between a facility manager, a property manager, and a building engineer on multi-tenant for rent versus an owner-occupied property.  IFMA's education, organization, competency-based credentials. 5 emerging and interesting sustainability topics IFMA is including. Green Building Trends you want to make hands on for your audience.  Environmental is going to be a big component for facility managers. GSA, the General Services Administration is changing the culture of the organization with respect to Carbon. Overcoming the uniqueness and components of historic buildings and Federal facilities. Sustainability and green buildings are pivoting to a primary objective.    “We're becoming a data driven industry and so we really need to raise the bar for many people in the profession. Doesn't matter which role you have, you need to understand more about sustainability. And that's gonna play heavily into ESG reporting…You need to not just train people on the tool because that's the simple part. You need to train them on why we're doing this. What's the imperative?” -Dean Stanberry Get the episode transcript here!!   Show Resource and Information America's Water Crisis and What To Do About It LinkedIn Connect with Charlie Cichetti and GBES Charlie on LinkedIn Green Building Educational Services GBES on Twitter Connect on LinkedIn Like on Facebook Google+ GBES Pinterest Pins GBES on Instagram   GBES is excited our membership community is growing. Consider joining our membership community as members are given access to some of the guests on the podcasts that you can ask project questions. If you are preparing for an exam, there will be more assurance that you will pass your next exam, you will be given cliff notes if you are a member, and so much more. Go to www.gbes.com/join to learn more about the 4 different levels of access to this one-of-a-kind career-advancing green building community!   If you truly enjoyed the show, don't forget to leave a positive rating and review on iTunes.  We have prepared more episodes for the upcoming weeks, so come by again next week! Thank you for tuning in to the Green Building Matters Podcast!   Copyright © 2022 GBES  

Only an exceptional innovator would look at a burgeoning career in operations and pause to examine their reputation and evaluate their goals. With the help of an executive coach, Deborah Spence-Cummings did just that and now serves as the Director of AI/ML Operations at Apple. Deborah shares how she used an engineering mindset developed at MIT and Northwestern to drive her career progression through positions in operations, planning, project management, sales, and now, artificial intelligence and machine learning. In this conversation with Pat and Shelli, Deborah also discusses her contributions to the innovative processes at Apple and NAVTEQ and how she navigated her career when opportunities did not automatically appear. (1:27) – Machine learning and AI(8:09) – Studying material science(11:38) – Journey to NAVTEQ(18:14) – Taking on different roles(21:45) – Working with an executive coach(26:51) – The engineering of sales(28:33) – Approach to leadership(30:27) – Advocates in your networkDeborah Spence-Cummings is the Director of AI/ML Operations at Apple. She has previously held executive and senior roles at HERE Technologies and NAVTEQ across operations, planning, program management, and sales. Deborah earned a bachelor's and master's degree in materials science and engineering at the Massachusetts Institute of Technology and an MBA at the Kellogg Graduate School of Management at Northwestern University.If you'd like to receive new episodes as they're published, please subscribe to Innovation and the Digital Enterprise in Apple Podcasts, Google Podcasts, Spotify, or wherever you get your podcasts. If you enjoyed this episode, please consider leaving a review in Apple Podcasts. It really helps others find the show.Podcast episode production by Dante32.

  In this episode, we interview Kristie Paskvan. Kristie is an experienced board member and CFO/COO/President with over 25 years of experience assisting diversified financial services, asset management, real estate, insurance, and professional services companies to grow their businesses worldwide. Kristie is a board director at First Women's Bank (FWB) - a de novo bank launched in 2021, SmithBucklin - a Chicago-based association management company, and the National Council on Compensation Insurance (NCCI) which provides objective state insurance rate and loss cost recommendations. She is a member of the United Way of Metropolitan Chicago board of directors where she chairs the Stronger Neighborhoods committee and the Chicagoland Chamber of Commerce board. Additionally, she is a member of the University of Illinois Dean's Business Council for the Gies College of Business. Kristie is a member of the National Association of Corporate Directors (NACD), attaining Certified Board Director status. Kristie was a member of the Mesirow Financial board of directors for 6 years, participating in or leading numerous committees including strategy, audit, information technology, HR & compensation, and enterprise risk management. She is a part-time Associate Director in the Magelli Office of Experiential Learning at the University of Illinois Gies College of Business. Previously she was the CFO and COO at Mesirow Financial, a global financial services company. Kristie received her bachelor's degree in Accounting from the University of Illinois. She has an executive MBA from the Kellogg Graduate School of Management. She is a member of the Illinois CPA Society for which she is a contributor to its quarterly Insight magazine.

Gary Cohen is a global CEO and board director. He is currently CEO of Qualitor Automotive,  Inc., a Wellspring Capital Management portfolio company. Qualitor is a leading diversified supplier of aftermarket safety and wear parts for the automotive industry. Through five global locations and two business units, Qualitor provides wiper blades and auto care accessories  (Pylon) and brake hardware and related components (International Brake Industries) to the automotive aftermarket. Prior to Qualitor, Gary was President and CEO of Timex Group, a  global manufacturer of watches, where he made significant improvements in expanding revenues of key product lines. At Timex, he was responsible for the Timex brand as well as licensed brands including Versace, Ferragamo, Guess, and Ironman.  Prior to joining Timex, Gary was Global VP/General Manager of Playtex, a business unit of  Energizer's Personal Care division. Among his achievements at Playtex, he helped acquire the  Hawaiian Tropic sun care brand and expanded its distribution internationally. Gary joined  Playtex in 2006 as part of a turnaround team that sold the business to Energizer Holdings.   Gary also held a succession of global marketing positions at P&G/The Gillette Company, each increasing in scale, scope of responsibility and complexity. By developing new products and focusing on transformational cost savings and productivity initiatives, he was able to deliver consistent profit growth in Gillette's Oral-B and shaving businesses.  Gary is a board director of Horizons National, a not-for-profit that delivers summer and after-school education and enrichment programs to low-income children across the country. He chairs the marketing communications committee and serves on the strategic planning and compensation committees. He is also a board advisor to PrideGear, a start-up that customizes athletic logo-wear for college and club sports teams.  A native of Massachusetts, Gary graduated from Brandeis University and earned his MBA from the J.L. Kellogg Graduate School of Management at Northwestern University. Gary and his wife, Carolyn, have four daughters and reside in Westport, CT.

In this episode, guest host Venkatesh Shankar sits down with Forerunner Ventures Partner Nicole Johnson to discuss the state of venture capitalism, the trends she's seeing in the DTC and DNVB space, and what she looks for in an executive team when seeking out new potential investments. About the guest: Nicole is a partner at Forerunner Ventures, a leading commerce-focused venture capital firm that supports trailblazing companies like Chime, Dollar Shave Club, Faire, Glossier, Away, Warby Parker, The Yes, Curated, and dozens more. Prior to Forerunner, Nicole worked with SapientNitro, a leading brand and digital strategy consultancy where she supported Fortune 500 retailers on their global retail strategies. Nicole is a graduate of Princeton University and was named one of Forbes Magazine's 30 under 30 in 2016. About the host: Venkatesh (Venky) Shankar is a RETHINK Retail Top Retail Influencer, a Professor of Marketing and Coleman Chair in Marketing and Director of Research at the Center for Retailing Studies, Mays Business School, Texas A&M University. Shankar has a Ph.D. in marketing from the Kellogg Graduate School of Management, Northwestern University and has corporate experience in the areas of marketing and international business development. If you enjoyed this episode, please let us know by subscribing to our channel and giving us a 5 star rating us on Spotify and Apple Podcasts.

Dr. David Dranove is the Walter McNerney Distinguished Professor of Health Industry Management at Northwestern University's Kellogg Graduate School of Management, where he is also a Professor of Strategy and the faculty director of the Kellogg Ph.D. program. Dr. Lawton Burns is the James Joo-Jin Kim Professor at the Wharton School, University of Pennsylvania, where he is also a Professor of Healthcare Management, Professor of Management, and Codirector of the Roy and Diana Vagelos Program in Life Sciences and Management. Their latest book is titled Big Med: Megaproviders and the High Cost of Health Care in America.

Charles K. Gifford, Jr., Senior Partner Charlie co-founded New Heritage Capital in 2006 and has been investing private equity in founder-owned, lower middle market business es for 23 years.  He focuses his efforts on generating proprietary investment opportunities, developing and maintaining intermediary relationships and providing capital markets expertise in the areas of transaction pricing and structuring. Prior to joining Heritage, Charlie spent two years at a start up sports venture. His previous experience also includes two years at Smith Barney in Boston and New York. Charlie earned a Masters in Management degree from the J.L. Kellogg Graduate School of Business and received his Bachelor of Arts degree from Denison University.

Before you sell your company, even the odds. This episode features guests Mark Achler and Mert Iseri, authors of the recent book, Exit Right: How to Sell Your Startup, Maximize Your Return and Build Your Legacy. Exit Right demystifies how to conclude the startup journey, a perfect complement to our podcast, which focuses more on the exits of larger middle-market companies. As Brad Feld states in the Foreword, “Mert and Mark set the roadmap for how entrepreneurs and business owners can proactively manage the process of getting to a successful exit along the way”. As Jeff says at the start of the interview: Mark and Mert cover so many great informative topics in the book. There is a wealth of tips to guide business owners through what can be a tumultuous process, getting through the exit. There are also so many topics we align with: relationships matter most, planning for wealth, time kills all deals, and the importance of following a best-practice process.  In this podcast episode, we focus on three topics with a lot of meat to each:  FAIR, Mert and Mark's framework for a successful exit, (3:00)  The“Exit Talk” and how we suggest that all companies adopt this practice with their board (15:00), and Who is involved in the Exit Talk and why? (28:00) What is FAIR? Why does it lead to the best transactions? (3:00) Mert: What we realized as we started to gather stories and experiences from M&A bankers, lawyers, serial entrepreneurs, etc is that the real question isn't, “Let's find out who's going to pay the most.” The real question is, “What's the right home for this business? What's the right home for my people? What's the right home for the vision? Who is going to serve our customers the best?” Our view of an exit went from being a short-term transaction to a long-term partnership. The term “exit” is a poor word choice.  You're not really exiting anything. If anything, it's the beginning of a brand new relationship. So when we ask ourselves, “What makes a great home for a startup?” we focus on these four elements that make exits great. FAIR. Fit, Alignment, Integration, and Rationale.  If you have all four of those, it just so happens that you've also found the person who's willing to pay the most for your business, because they will realize the long-term value and they'll price the deal accordingly. Fit is the cultural fit between the two companies. Amazon and Zappos are a great fit. Time Warner and AOL, are probably not a great fit. It's easily described. Can you sit next to this person for four hours and not want to kill them by the end of the meeting? Can you actually make decisions without written rules? Are cultural values aligned? Are the DNAs sort of similar, cousins to each other between those two companies? Alignment is about being aligned with your co-founders, board, and shareholders in terms of the direction of where you want to go. The acquiring company also must be aligned.  We almost always dismiss the alignment that we need from all sides of the table. This isn't two sides looking at each other. This is two sides looking in the same direction. Integration has to do with the plan for how these two companies will come together. We've seen so many examples of this plan of integration being done as an afterthought. It's not just product and sales integration but people integration, finance integration; many, many layers. And all of these stakeholders have different agendas that need to be individually managed.  Rationale. Can you explain to your grandmother why this acquisition makes sense? How are we going to deliver more value to our customers as a result of this partnership? How is two plus two equal to 100 in this context? Mark: There are profound financial implications to the FAIR framework. Let's take Integration. Integration is the ugly stepchild. People always say, “Oh yeah, we'll deal with integration afterward.”  Turns out that in many transactions, it's not always 100% cash. Sometimes there's an earn-out for future performance. If you're not integrated well (you don't have the resources you need to execute your plan), there are some significant financial implications to the earn-out. Then there are the financial implications to Rationale. Transactions are typically based on looking backward using a multiple. When you create a rationale that says one plus one equals a hundred, if it's a strategic investment, you take your product and we plug it into the larger company's sales force or the larger company's customer base. What could we do inside the larger company? What's the impact of your product on the larger company? The way to maximize value is not looking backward as a multiple, but looking forward using the rationale. Strategically, why is the combination so valuable? If you can get everybody aligned around the rationale and the financial implications of that rationale, that's how you're going to drive a better price for an exit. Mert: No one's going to just sit down and tell you, “This is our rationale.” You uncover it. You unearth it over years. That's why we urge entrepreneurs to put their party dresses on. Talk to many competitors. Talk to strategics. Get out the door. You need to build this trusted relationship over time with fundamental questions. How can I help? How can I help you push your agenda forward? How can I help my customers? This is what great partnerships really look like. We're not saying go share your financials with your competitors or give away all your IP to a larger strategy, but you need to be that trusted partner that advances the mission on all sides and creates a situation where everybody wins. Mark: We wrote the book about exits, but it turns out that the decisions that entrepreneurs make at the beginning of their journey have an outsized impact at the end of the journey. Even though this book is really about the exit, there is really good advice there about the beginning of the journey as well. Jeff: That's exactly right. This book is really about the journey.  All of the steps on the journey influence the end. There's so much wisdom in the book and insights about all the things that you can do to proactively get to the right end. Management meetings are oftentimes the first time that business owners meet their potential acquirers, whether they're competitors or strategics, or investors. But the longer that relationship can be developed, the more that you can uncover in terms of the shared common goal of what can we do together. And the best valuation and the best terms will just naturally evolve. What is an “Exit Talk”? How can founders use it to reach alignment in their boardrooms? (15:00) Jeff: The Exit Talk really struck a chord with me. Let's encourage clients and future clients to have these discussions and this thought process through the FAIR framework to really think ahead. Sometimes we as investment bankers get brought in late in the game. But most of our transactions and our best relationships really span years. We get to know the business, the goals, and importantly the people involved, the operators, the owners, the founders, and the investors. Some of these relationships for us span a decade or more. We give them advice on how to grow their companies. This concept of an exit talk is missing from my perspective. Exit discussions are often secretive or clouded in secrecy. It is a very small universe of folks within a company that knows that a transaction is imminent. It's rarely discussed openly among the senior leadership team until late in the game. What you guys propose is proactive. Through your work and sharing your work with my future clients, I'd like them to embrace this philosophy. I love this quote that you said, “Instead of fueling the awkwardness of the exit topic by staying silent, we are putting forward a new norm that we believe the entire industry should adopt, which is the Exit Talk.” Mark: This is one of our favorite topics. But before we dive into the Exit Talk: We are such big believers in trust. Every deal has its ups and downs. It has its emotional turbulence, it's the journey. Trust is the lubrication that gets deals done through to the conclusion. I just wanted to put a fine point on that topic of trust because it permeates everything we do. The Exit Talk.  It turns out that there's a stigma to talking about exits. CEOs are afraid. They're afraid that if they bring up the topic of an exit that their board and their investors are going to think their heart's not in it. They've lost hope. They've lost faith. In the Venture Capital or Private Equity world, we have a time horizon. When you take our capital, you take our agenda, and you take our time horizon. We're looking for X return over Y timeframe. And if you're in year one of a fund, we've got plenty of time.  Let's go build and grow. If you're in year 10 of a fund, we've got to start returning capital back to our LPs. With the Exit Talk, what we're proposing is that once a year, maybe your first board meeting of the year, you have a regularly scheduled annual talk where the CEO, without fear of being perceived as their heart's not in it, can talk about the exit. The reason it's so incredibly helpful is that you have the luxury of time. If you had 18 months or two years, you have the luxury of saying, “Who's going to be the most likely acquirer? Is it going to be a strategic acquirer? And why? Who is it and why would they want to acquire us? Or is it going to be a financial buyer and what are they looking for? Are they looking for top-line revenue?”  If we're going to sell to somebody who really cares about growth, we may invest a little bit more heavily in sales and marketing. If it's somebody who is more financially oriented and really cares about EBITDA, we might tighten the ship and focus on profitability.  It gives you the luxury of time to get your intellectual property in order, make sure that every single employee has a signed agreement, and make sure that trademarks and patents are filed appropriately. Get your data room pristine. If you have the luxury of time, you can optimize and present your business. And you could take the time to find the best bankers and attorneys who really are going to represent you well. Mert: An outcome of this talk doesn't necessarily have to be “we're ready to sell, or we're not ready to sell”. It can also be an opportunity to start prototyping some of the theories around how you add more value to your customers. This is a great centerpiece for what we believe an exit should be reasoned around. This will help our customers faster/better than what we could do on our own by just raising more money or gathering more capital or resources. For instance, if you are going to have a strategic alignment with a larger company like Google, but you're not ready to sell, it's still an opportunity to start a relationship. Maybe we work on a mutual customer together. Maybe we create some content together where we tell our stories and we share our wisdom with theirs. You want to start charging up that trust battery over time. When you are ready, you are a known entity. The reality is these M&A (Corporate Development) leaders want to buy companies from trusted entities. They don't want an egg on their face either. They want to know the company that they're investing in. They're not viewing this as an acquisition, they're really viewing it as an investment. They want to know they can trust you. They want to know that you can go the distance. It's a really difficult thing to do to create that kind of trust. You're not going to rush through trust. You're going to build it incrementally over years. Even the identification of a strategic partner when you're not ready to sell is extremely valuable because that's an opportunity to generate a relationship. Find out what their priorities are. See if your solution helps move those numbers forward.  Mark: We're big believers in empathy. We have an empathy framework. There are three rules of empathy: 1) It's not about you. It's always about the person sitting across the table from you. 2) Do your homework.  Deeply and truly understand what's important. Mert just said, “Go listen to the quarterly earnings report.” They're going to tell you what they care about. 3) Bring a gift, add value. When I say bring a gift: what can you do? If you're an industry leader, provide some thought leadership about where the market's heading. Share new bits of technology. Not only can you gain knowledge about their strategic direction, you can also share knowledge and be thought of as a trusted thought leader.  If you take those empathy rules and apply them to building relationships over time, that's how you're going to earn trust. Jeff: I love the idea of a trust battery and charging that up over time. You can't do that overnight. You can't do that in one management meeting. You can't do that in a really compressed timeframe. You really need to start early and think about what you can bring to the table. What can you bring as a gift to add value to somebody else so that they can see the value in what you are bringing?  That's really the roadmap that you guys layout in your book: what steps can we take proactively to get to the best outcome. Who is involved in the Exit Talk, and why? (28:00) Mark: Let's separate out the annual exit talk from an actual transaction process. The exit talk is a board of directors-level conversation. Maybe you bring in one or two top lieutenants into that conversation, depending on the relationship between the CEO and maybe one or two C-suite members. But that's a board-level, strategic conversation that's not for the whole company. (For an actual transaction process), there are lots of different ways of handling it. My own personal opinion is that there is a dance that takes place starting as an aperture that broadens over time. One of the challenges with telling any employee about a transaction is human nature. “What's that mean to me? Am I going to have a job? Am I going to get fired? Am I going to become rich? What are my stock options worth?” One of the challenges is that not all deals happen; deals fall apart all the time. So the team has to have their eye on the ball. For the CEO, when they're going through a transaction, it can be all-consuming.  We've seen instances where companies started slowing down, missing their numbers because the CEO was distracted and not focused on running their business.  The way I think about it is starting with the CEO and the board, keeping a really tight circle of information. And then as the conversations start to broaden and deepen in a transaction, then people are going to start the due diligence process.  Make sure your C-suite is involved and your executive team is involved. The people who are going to be part of the due diligence process, obviously you're going to have to inform them. I don't think it's a great thing to just wake up one morning and say to your entire employee base, “Hey, guess what? We just got sold.” There's a middle ground someplace in that continuum. Try to keep it confidential through most of the process. As you start to get to certainty you need to start opening it up so it's not a surprise to everybody. Mert: There's one major stakeholder that hasn't been discussed and I just want to bring that up, and that's your family. Most founders overlook that and think of this transaction as a business event. This is a life event. Your family is a humongous stakeholder. We want to highlight that this is a critical component of whether an exit happens or not. What's happening with your family is just as important as what is happening with your board and other stakeholders. Mark: I couldn't agree with you more. It's not just us, it's our families and our loved ones too that have a stake in this. Jeff: It goes for all key constituents, starting with the family and then moving down to the board members and the C-suite and figuring out what's the right communication style and method and frequency. These things are really critical decisions that most folks don't really spend the time thinking about. Mark: One of the questions we ask CEOs is: when you're done with the transaction, will your employees come back to work for you in the next company you start? Will your investors want to invest in you in the next company you start? Will the biz dev lead of the large company who goes on to the next company, are they going to want to buy your next company? I think what many entrepreneurs fail to understand is that the relationships you build and your legacy live on way past the deal and the transaction.  We're big believers in servant leadership and that the best CEOs don't view life as a zero-sum game. They make sure that they take care of their customers, their employees, and their investors. They try to find the balance of supporting all relationships over time. ABOUT OUR GUESTS While a successful entrepreneur may exit a handful of companies in their lifetime, large buyers close deals all the time. Without decades of experience in mergers and acquisitions, founders don't have the tools they need to get the best results for themselves, their teams, or the new parent company. Through dozens of interviews with M&A leaders at the biggest Silicon Valley acquirers—as well as attorneys, bankers, and founders who have been through the trenches—Exit Right delivers the hard-earned lessons that lead to successful exits. From negotiation to valuation to breaking down a term sheet, managing legal costs, and handling emotional turbulence—this unparalleled guide covers every critical aspect of a technology startup sale. Learn where deals get into trouble, how to create alignment between negotiating parties, and what terms you should care about most. Above all, learn how to win in both the short and the long term, maximizing your price while positioning your company for a legacy you can be proud of. Author Biographies An early employee of Apple and Head of Innovation at Redbox, Mark Achler has been creating and investing in tech startups since 1986. Today, he is a founding partner of MATH Venture Partners, a technology venture capital fund, and an adjunct professor at the Northwestern Kellogg School of Management. Mert Iseri co-founded SwipeSense, a healthcare technology company acquired by SC Johnson in 2020. Prior to that, he co-founded Design for America, a national network of students using design thinking to create social impact, now part of the IBM Watson Foundation. He is currently an Entrepreneur in Residence at MATH Venture Partners. Socials Mark Achler Mert Hilmi Iseri Book About the hosts Gina Cocking serves as the Chief Executive Officer of Colonnade Advisors. Gina began her career in investment banking at Kidder Peabody, was an analyst at Madison Dearborn Partners and an associate at J.P. Morgan & Co. She was the Chief Financial Officer of Cobalt Finance, a specialty finance company. She went on to become the Chief Financial Officer of Healthcare Laundry Systems, a private equity-backed company for which she oversaw the successful sale to a strategic acquirer. Gina served as the Line of Business CFO – Consumer Banking and Lending at Discover Financial Services. Gina serves on the Board of Directors of CIB Marine Bancshares, Inc. Gina received her BA in Economics and an MBA from the University of Chicago. Jeff Guylay is a Managing Director of Colonnade Advisors. Prior to joining Colonnade in 2000, Jeff was an investment banker at J.P. Morgan in the firm's Mergers & Acquisitions and Fixed Income Capital Markets groups in New York. He also spent several years in J.P. Morgan's Chicago office. Jeff has over 20 years of M&A and investment banking experience and has served as lead execution partner on over 25 M&A and financing transactions at Colonnade. Jeff received an MBA from Northwestern University's Kellogg Graduate School of Management and a Master of Engineering Management from the University's McCormick School of Engineering. Jeff received a BA from Dartmouth College and a BE from Dartmouth's Thayer School of Engineering. About the Middle Market Mergers & Acquisitions Podcast Get the insiders' take on mergers and acquisitions. M&A investment bankers Gina Cocking and Jeff Guylay of Colonnade Advisors discuss the technical aspects of and tactics used in middle market deals. This podcast offers actionable advice and strategies for selling your company and is aimed at owners of middle market companies in the financial services and business services sectors. Middle market companies are generally valued between $20 million and $500 million. If you enjoyed this episode, please subscribe and consider leaving us a short review:

Ms. Zaderej has served as Axogen's President, Chief Executive Officer, and a member of our Board of Directors since September 2011 and the Chairman of our Board of Directors since May 2018. Since May 2010, she has served as the Chief Executive Officer of Axogen's wholly owned subsidiary, Axogen Corporation, and a member of the Board of Directors of Axogen Corporation. Ms. Zaderej joined Axogen Corporation in May 2006 and served as Vice President of Marketing and Sales from May 2006 to October 2007 and as Chief Operating Officer from October 2007 to May 2010. From October 2004 to May 2006, Ms. Zaderej worked for Zaderej Medical Consulting, a consulting firm she founded to assist medical device companies build and execute successful commercialization plans. From 1987 to 2004, Ms. Zaderej worked at Ethicon, Inc., a Johnson & Johnson company, where she held senior positions in marketing, business development, research & development, and manufacturing. Ms. Zaderej is a member of the University of Tampa Board of Trustees and the MedExec Women Board of Advisors. Ms. Zaderej has an MBA from the Kellogg Graduate School of Business and a B.S. degree in Chemical Engineering from Purdue University.

The Metaverse certainly seems to be on everybody's mind this year but, so far, everyone we've spoke to seems to have a different definition of what the Metaverse actually is. On this episode, we go straight to the source as Julia Hare sits down with Eva Press, vice president of the global business group at Meta. During their conversation, Eva reveals how social commerce has evolved during her time at Meta, the role technology will play in tomorrow's retail landscape, and delivers the scoop on what retail will look like in the Metaverse. About Eva Press: Eva is vice president of the global business group at Meta, where she leads Meta's sales and account teams in the US for the Retail, Consumer Packaged Goods and Health verticals. Eva and her teams focus on partnering with large, complex, traditional advertisers to navigate the disruptions shaping the marketing landscape. Before joining Facebook, Eva spent ten years in Brand Management at Kraft Foods, leading such iconic brands as Planters Nuts and Oreo Cookies. She holds her MBA from the Kellogg Graduate School of Management, and undergraduate degrees from the University of Pennsylvania and the Wharton School of Business. If you enjoyed this episode, please let us know by subscribing to our channel and giving us a 5 star rating us on Spotify and Apple Podcasts. - - - - - - Host: Julia Hare Produced by Gabriella Bock

An accomplished entrepreneur and inspirational author, today's guest, left the comforts of her corporate job for her miracle more than sixteen years ago and hasn't looked back. In her book, Blues to Blessings: Moving from Fearful to Faithful, she helps her readers move from complacency and dissatisfaction to fulfillment and transformation.She also produces and hosts a devotional podcast called B Moments, which airs daily on Moody's Urban Praise radio station. She holds an MBA from the Kellogg Graduate School of Management, Northwestern University, and she and her husband have three sons and live in Chicago. Welcome to Authors Over 50, Suzette Webb.Suzette Webb's Instagram Suzette Webb's Facebook  Julia Daily's Twitter: Julia Daily's Facebook: Julia Daily's Instagram Julia Daily's Linked In Julia Daily's Goodreads Authors Over 50 Podcast Links:Amazon MusicSpotifyApple PodcastsGoogle Podcasts - authors over 50WebsiteThank you, Holly Shannon, Zero to Podcast coach and host of Culture Factor 2.0. https://hollyshannon.com and Sean McNulty, Sound Engineer. 

Sam Sebastian is the President & CEO of Pelmorex Corp., the parent company of The Weather Network. Pelmorex is a market leader in operating multi-platform TV, Web and Mobile services in weather-related information categories under the leading brands; The Weather Network, MétéoMédia, eltiempo.es and Clima. The company also operates Canada's National Alerting Aggregation and Dissemination System, Alert Ready. Before joining Pelmorex, Sam was the VP & Managing Director of Google Canada, from 2013 - 2017, where he was responsible for Google's Canadian operations. He joined Google in 2006 in Chicago and held a variety of executive-level roles in the U.S. before moving to Canada. Prior to Google, he was a General Manager and Senior Vice-President at a large online classified business, Classified Ventures (cars.com, apartments.com), and started his career at Arthur Andersen as an accountant and consultant. Sam is a member of the Business Council of Canada and a Director on several Boards including Tennis Canada and Bridgit, a Kitchener-Waterloo internet start-up in the construction industry. Sam graduated from The Ohio State University and holds an MBA from Northwestern's Kellogg Graduate School of Management. At Ohio State, he played Division I NCAA tennis, where he was a two-time Captain, Big Ten Champion and Academic All American. We discuss: - Why Sam gets more done and is more confident when he has more going on (and why that works) - How Sam led Pelmorex during the Pandemic: two things he told the team when the Panemdic struck - Why a great strategy and a great team that works together towards the same goals allow you to become a powerhouse - Why being authentic is the most important trait for leadership today - Why you need to fail, and how a big failure allowed Sam to grow into his leadership roles - How leaders can encourage failure, and why it's important - Why we need to pay it forward, in order to win as an individual and as a collective team

This episode continues with our “industry spotlight series” where we focus on specific trends and opportunities in middle-market M&A transactions. Our previous episodes have covered four industries in which Colonnade has played a significant role as an M&A advisor to both buy-side and sell-side clients. We add F&I Agencies & Payment Plan Providers as industries where we deeply know the dynamics and players so as to provide exceptional service to clients who hire us to assist them in a transaction. Colonnade has studied the F&I Agencies and Payment Plan Provider markets for the last 20+ years. We have worked on nearly 30 M&A transactions on the buy-side and the sell-side. We have gotten to know the industry players and the buyers. We've identified some high-opportunity M&A plays that could help to drive even more value, scale, and customer satisfaction in the industry. Spotlight on F&I Agencies (1:00) In this first part of our episode, we answer the following questions: Where do F&I agencies sit in the F&I ecosystem? (1:00) What does a typical F&I agency look like? (7:00) What is going on in terms of M&A and what are the value drivers in the industry? (9:00) What is driving M&A transactions right now and what are some potential M&A plays? (12:00) Where do F&I agencies sit in the F&I ecosystem and what value do they provide? (1:00) Gina: Between the F&I administrators and the F&I office and the dealership, there are F&I agencies. They are independent agencies with independent agents. They are like insurance agents. They bring together the product administrators and the dealers.  Gina:  The agents have deep knowledge about the products they represent. They can train the F&I office on those products and how to sell the products. They also act as the middle man or the interface with the administrator. They are one distribution arm for the administrators, which makes them critical in the ecosystem. They are a valuable component of the overall F&I ecosystem. Jeff: The F&I agency is a particular point in the value chain. It's a differentiator. Some administrators sell to dealers through a direct sales force, others use F&I agents.  Gina: There are administrators who go direct to dealers, but most administrators also use independent agents. They may have a direct sales force, but they have independent agents also. The only sector where that seems to not always be the case is selling into independent dealerships. You tend to see more direct agents that are employed by the administrators selling into the independent dealerships. Gina: An important component of what the agents do is help the dealership with reinsurance. Reinsurance is an important component of a dealership owner's profits. For every contract, every F&I product that is sold, there is a reserve set aside for future claims. F&I agents are usually very fluid and educated in talking about reinsurance and making sure that the dealership has the right reinsurance programs. So they deal with reinsurance, they do training on products, they do training on how to sell products. They sometimes help with staffing in the F&I office, and they'll help with some of the technology that is between the F&I office and the administrator. Gina: F&I represents a third of a dealership's profits. Everybody within the organization and affiliated with the organization is going to make sure that F&I runs smoothly. What does a typical F&I agency look like? (7:00) Gina: There are well over 100 independent agencies, and approximately 75%-80% of F&I agencies are less than 10 employees. There are very few large agencies. There are a few that are scaling, but there really aren't many. There is only one national agency that comes to mind and that's Vanguard (owned by Spectrum Automotive). Vanguard has been very acquisitive in building out its agent network. We also see Brown & Brown, which is a P&C insurance brokerage. They've been acquiring F&I agencies over the last few years. I don't know if they have a national footprint yet, but they're probably getting pretty close. And then you have acquired a lot of small agencies. ​​Jeff: The Brown & Brown example is an interesting one that we've watched over the last five to six years as they've entered the industry. We've always thought their participation in the F&I agency world makes a lot of sense, given the parallels to the P&C distribution market. What is going on in terms of M&A and what are the value drivers in the industry? (9:00) Gina: We think that the M&A market for F&I agencies will continue to be hot in 2022. (See Gina's cover article in Agent Entrepreneur, 2022 M&A Predictions for F&I Agents) Agent value is driven by a couple of different factors. One is diversification. One of the challenges for these small agencies, just like any small company, is having all of their eggs in one basket. An F&I agency may have one dealership group that represents 40% of sales. That is a gating factor to trading and getting the highest possible value. Agencies that have significant concentration, which I call greater than 15%, trade at a lower multiple than agencies that have little concentration. Another value driver is size. We look at the number of W-2 employees (as well as financials). Jeff:  Important when you go to sell these companies: Who owns the dealer relationships? And what's the risk of attrition in a transaction? Gina: A lot of diligence needs to be done in these transactions to really understand the nitty-gritty of who, not just on paper but in practice, owns the relationships. What is driving the M&A transactions right now and what are some potential M&A plays? (12:00) Jeff: It sounds like an industry that could be rolled up further. Following the playbook of the P&C insurance distribution market, you got a lot of mom and pops out there and a few large players.  Gina: Both Brown & Brown and Vanguard Dealer Services (Spectrum Automotive) are rolling up agencies. The rest of M&A activity we see is not a roll up, but administrators buying agencies. National Autocare and Portfolio Group have been very inquisitive. There are many other administrators who bought one, two, three agencies, as they attempt to lock in their distribution channels.  Gina:  There should be another roll up of F&I agencies. There should be a private equity firm that's coming in here saying, “I'm going to put a hundred, $150 million to work and we're going to leverage it. And we're going to buy up 20 F&I agencies. We're going to make a super-agency with national coverage.” That could be uber-successful for everybody involved. It just hasn't happened yet. Jeff: The folks that are acquiring are paying pretty high multiples, and that's a challenge. Any new entrant would have to go in and go big pretty quickly. They'd have to find a platform that they can scale and put a lot of capital to work while holding their nose as they pay big prices upfront. Gina: A lot of the M&A activity we have seen is with an older generation that is retiring. There's also some leakage happening where the younger, talented, hungrier F&I agents are like, “I get it, I can do this.” They leave and go start their own agency. I think we'll see that next-generation starting to trade in about a year or two. Gina: I have one last point I want to cover about F&I agency M&A: what's driving the activity. First of all, there's a lot of money looking for deals. There are private equity firms backing administrators that need to grow inorganically. But we also see a lot of M&A activity at the dealership level. They're getting bigger. Big dealership groups are buying up other dealers, independent shops, and dealership groups.  Every time one of those transactions happens, the agent that represents the target dealership is at risk of losing that client. Dealership M&A is driving F&I agency M&A. I think that this is the question that keeps a lot of agents up at night: Are they one or several M&A transactions away from losing a significant portion of their relationships and their livelihood? Spotlight on Payment Plan Providers (18:00) In this second part of our episode, we answer the following questions: How do payment plan providers add value to the auto F&I sector? (18:00) How big is the industry and who are the biggest players? (23:00) Why are payment plan providers a favorite industry of Colonnade? (25:00) What is going on in terms of M&A and what are the value drivers in the industry? (29:00) How do payment plan providers add value to the auto F&I sector? (18:00) Jeff: Payment plan companies came out of the ground around 20 years ago. They started as an offshoot of the insurance premium finance market, which we've talked about in a previous podcast. Fundamentally, this market is designed to help consumers purchase F&I products cost-effectively. Whether you're in a dealership (point of sale) and the F&I person says, “This VSC is going to cost you $3,000” or whether you get a piece of mail about an extended auto warranty (aftermarket), once you get sold on buying the coverage, the questions is always: Do you want to write a check for three grand or do you want to finance it over two or three years?  In most cases, the VSC/extended auto warranty gets financed. That's where these payment plan companies come in. Jeff: At the dealership (point of sale), the payment for an F&I product typically gets rolled into the auto loan. It's just one of the line items in the auto loan, and you (as the consumer) pay it off as you go. There are some payment plan providers that focus on point of sale at the dealership, allowing a consumer to finance the product outside the auto loan. In the aftermarket, which is really where we see these payment plans flourish, it's a different dynamic. If you're on the phone with a direct marketer and you agree to buy the coverage, you can put 10% down and pay over 18 or 36 months, depending on the payment plan. Interestingly, they're interest-free and cancelable at any time. And as you continue to drive your car and assess the usefulness of the product, you can cancel it at any time. If you cancel it, all you do is call up the seller or the administrator and say, “I want to cancel my payment plan.”  In that case, you get a portion of your money back (the unearned premium). It works in a similar way to the insurance premium finance market. The contract is earned over the life of the product. If it's a five-year product and you're one year into it, you might get 80% of the money back. The payment plan company is indifferent because it will just get their pro rata share back from the administrator and seller. The seller will sell the product to the consumer, and if they attach financing to it, the seller will collect the 10 or 15% down payment. The payment plan company will insert themselves and front the rest of the money to the administrator and to the seller. The administrator has to front some money to the CLIP (1) provider, but the revenue to the seller and the admin fee gets fronted by the payment plan company. Jeff: Our Industry Report on this sector goes into much more detail about the industry. How big is the industry and who are the biggest players (23:00) Jeff: We estimate this is about a $5 billion a year originations market. There's not good data. We've done a number of studies over the years and think that's the size of the market. It grows with auto sales and the adoption of products. It's grown considerably over the last several years. There are probably 10 independent players in the market. There are just a small handful of large players. The biggest players are PayLink, which is owned by Fortress and Milestone. Walco is the next biggest, and they're growing nicely. This is the Walder team that previously ran Mepco and Omnisure, and they've started up a new finance company that's growing quite rapidly. Mepco is a large player, they're top three, that's owned by Seabury. There are other smaller players like Budco, Line 5. Service Payment Plan is a big company in the dealer space, again different dynamics but similar product offering. PayLink, Omnisure, and Mepco really dominate the aftermarket space. Folks like Service Payment Plan dominate the dealer (point of sale) channel. Why are payment plan providers a favorite industry of Colonnade? (25:00) Gina: I love the payment plan business because it is so low-risk. What the payment plan companies do is hold a cash reserve on each funding in case the underlying consumer cancels. And that happens. There are a lot of cancellations in the direct consumer marketing of vehicle service contracts. As we've discussed before, it's not because the contracts are bad contracts, but it's because consumers actually have transparency. In the case of vehicle service contracts rolled into an auto loan, consumers don't get a breakout every month of the components of their auto loan that they're paying. They don't see that 80% of your auto loan payment is for the car, 10% is for the vehicle service contract, et cetera, cetera. But when a consumer is financing or using a payment plan for a vehicle service contract in the aftermarket, they have complete transparency as to what that cost is for. And if they decide as a household, they no longer need that product (they need to redeploy that payment to something else like their mortgage), they can cancel. The payment plan businesses have a cash reserve for this. So it is a very low risk business and has great returns. Jeff: Some of these companies have several hundred million dollars of portfolio and each contract starts out at $3,000 and burns down. These are very granular portfolios. You're not going to take a big loss on any particular contract. Unlike the insurance premium finance industry, the incidence or likelihood of fraud is negligible, and the risk here is quite low given the granularity. We like the short duration of these assets. We like the low loss rates. Generally, these transactions are priced at a 15% to 20% unlevered return. They're very high-yield. There's no credit risk. We're not doing anything with consumer credit risk.  We really don't care. We're just managing relationships with sellers and administrators. All those dynamics are favorable to this lending universe. I love this business. It's a niche industry, $5 billion is not the $50 billion commercial P&C market, but it's meaningful and growing. What is going on in terms of M&A and what are the value drivers in the industry? (29:00) Jeff: There really hasn't been much activity as there's a limited universe of players. Some of the administrators are vertically integrating and getting into the payment plan industry. We worked on the initial sale of Mepco to Independent Bank almost 20 years ago. We sold PayLink (which used to be called Warranty Finance Company) to Oxford Financial. It's now owned by Milestone and Fortress. Omnisure: Ed and Paul Walder started up that business from scratch and grew it to a couple hundred million dollars of receivables. We advised on the sale to Fortress.  PayLink and Omnisure merged in 2017 and put together two leading players in the industry. The other important transaction to mention is Seabury's acquisition of Mepco out of Independent Bank in 2017.  Most recently Walco has come out of the ground. Walco was started in early 2020 by Ed and Paul Walder again, starting up another competitor in the sector. They've grown considerably in recent years and are doing a great job building out that business. We don't see a ton of M&A activity per se, but it's a really interesting market. Part of the challenge from an M&A perspective is that there has not traditionally been a deep bank buyer universe of this product and that confounds me a bit. For all the reasons we mentioned, this is a really interesting, dynamic asset class. It's very similar to insurance premium finance, which has a number of large banks in the sector and a number that want to get into it.  The collateral structure looks very similar, except that payment plan providers have higher yields, higher return on assets, and even lower losses. And there's no fraud. I think there's a real opportunity for forward-thinking banks to embrace this asset class and do quite well with very little risk. (1) A CLIP is a commercial liability insurance product that covers the contractual obligations of the insured. A full reimbursement CLIP would indemnify the insured commercial entity for all monies it expends to fulfill a contractual commitment.   About the hosts Gina Cocking serves as the Chief Executive Officer of Colonnade Advisors. Gina began her career in investment banking at Kidder Peabody, was an analyst at Madison Dearborn Partners and an associate at J.P. Morgan & Co. She was the Chief Financial Officer of Cobalt Finance, a specialty finance company. She went on to become the Chief Financial Officer of Healthcare Laundry Systems, a private equity-backed company for which she oversaw the successful sale to a strategic acquirer. Gina served as the Line of Business CFO – Consumer Banking and Lending at Discover Financial Services. Gina serves on the Board of Directors of CIB Marine Bancshares, Inc. Gina received her BA in Economics and an MBA from the University of Chicago. Jeff Guylay is a Managing Director of Colonnade Advisors. Prior to joining Colonnade in 2000, Jeff was an investment banker at J.P. Morgan in the firm's Mergers & Acquisitions and Fixed Income Capital Markets groups in New York. He also spent several years in J.P. Morgan's Chicago office. Jeff has over 20 years of M&A and investment banking experience and has served as lead execution partner on over 25 M&A and financing transactions at Colonnade. Jeff received an MBA from Northwestern University's Kellogg Graduate School of Management and a Master of Engineering Management from the University's McCormick School of Engineering. Jeff received a BA from Dartmouth College and a BE from Dartmouth's Thayer School of Engineering.

How to Sell Your Business This may be the most important Inside BS Show ever. Today Dave Lorenzo interviews Brad Mart, the founder of Mart Partners. Brad sells businesses for a living. Why is this show so important for you? You need an exit strategy for your business. If you're not going to pass your business on to your children, you need to find a way to develop a market for it. How do you do that? Well, that's only part of our conversation on today's show.Join Dave Lorenzo and Brad Mart as they talk about what you need to do to get maximum value when you are ready to sell your business.  Chapters:00:00 Introduction: How to Sell Your Business02:00 What is the Market Today for Selling a Business?03:00 How Did Brad Get Started in M&A and Business Sales?04:19 How to Sell a Business to Warren Buffett05:20 When Should People Think About Selling Their Business?07:30 What Does Brad Look at When Helping Sell a Business?09:15 Should Business Owners Buy Tangible Assets to Increase the Value of Their Business?15:40 What Are the Three Biggest Mistakes Business Owners Make When Selling their Business?19:50 What is the Best Business to Start Today?23:15 What is the Value of Your Personal Network in Preparing to Sell Your Business?26:30 What Expectations Should a Business Owner Have for the Sale of their Business?29:15 What Role Does a Succession Plan Play in the Sale of a Business?Brad MartFounder – Mart Partners(317) 775-0050bmart@martpartners.comhttps://www.martpartners.com/Brad Mart is President of Mart Partners, an M&A advisory firm.  Over his 25-year career, Brad has created and led business growth as the founder of a start-up company, general manager of a new division within a $1 billion company and consultant to CEOs of middle-market and Fortune 500 companies.  He has successfully executed M&A transactions from $5 million to $800 million in value across multiple industries. Mart Partners works closely with business owners to create and execute sophisticated and tailored approaches to strategic acquisitions and company sales.  Mart Partners focuses on businesses with annual revenues from $5 million to $100 million.  Brad received an MBA from Northwestern University's Kellogg Graduate School of Management and a B.S. in finance from Indiana University's Kelley School of Business.