Podcasts about kpmg peat marwick

What is God leading you to do?In this episode, Jeff and Scott discuss: Obedience over outcome.Generosity doesn't happen organically.Blessings of Christian education.Creating a personal board of directors.   Key Takeaways: God's plan is different than yours. Ultimately, it is better than you could know. God calls us to show up, no matter the outcome. The outcome has nothing to do with you, even when you bring your A-game every day. Everybody has a broader network than they think they do. People are almost always willing to give of themselves when asked.   "My job is to do my best work always, to show up and bring a Christ-centered, Kingdom-centered focus to the workplace, to my co-workers, to my partners, and do the best I possibly can. And He will ordain that outcome, and I will be the beneficiary one way or the other." —  Scott Pomeroy About Scott Pomeroy: Scott Pomeroy is the Chairman and Chief Executive Officer of XTI Aerospace. Scott brings over 35 years of executive experience to XTI. He previously served as the CFO of Dex Media, overseeing equity and debt capital raises of more than $10 billion, and was CEO and founder of Local Insight Media. He also co-founded Gen3 Financial Services, a boutique merchant bank providing capital raising and business advisory services to clients in a variety of industries including aerospace. He has served on several boards, including the Board of Directors of AVX Aircraft Company since 2009, a U.S. military defense contractor and a leading-edge aviation research and engineering company with particular expertise in vertical takeoff and landing (VTOL) aircraft and unmanned aircraft development. Scott began his career at KPMG Peat Marwick. He has a BBA in Accounting and is a Certified Public Accountant. Connect with Scott Pomeroy:Website: https://xtiaerospace.com/LinkedIn: https://www.linkedin.com/in/scottpomeroy/Company LinkedIn: https://www.linkedin.com/company/xti-aerospaceTwitter: https://x.com/XTIAerospaceFacebook: https://www.facebook.com/p/XTI-Aerospace-100095440081309/Instagram: https://www.instagram.com/xtiaerospace/   Connect with Jeff Thomas: Website: https://www.arkosglobal.com/Podcast: https://www.generousbusinessowner.com/Book: https://www.arkosglobal.com/trading-upEmail: jeff.thomas@arkosglobal.comTwitter: https://twitter.com/ArkosGlobalAdv Facebook: https://www.facebook.com/arkosglobal/LinkedIn: https://www.linkedin.com/company/arkosglobaladvisorsInstagram: https://www.instagram.com/arkosglobaladvisors/YouTube: https://www.youtube.com/channel/UCLUYpPwkHH7JrP6PrbHeBxw

Peggy Okelly began her career in San Francisco as a CPA with KPMG Peat Marwick. In 1990 with two young girls in tow she moved back to my hometown in the Napa Valley and founded St. Helena Olive Oil Co. After 25 years of growing the business, Peggy suffered a Traumatic Brain Injury rendering her a stranger to herself.Having little access to her executive functioning, Peggy listened to the cues of her body leading her on a path of mind/body/spirit connection. Along the way she gathered teachings from healers of all medicines. Peggy's most profound healer continues to be Roxy, a Warmblood Mare, who she met while recovering in the Eastern Sierras of California. Their mutual struggle with disregulated nervous systems created an immediate and powerful connection. With no specific intention other than to share insights from her healing journey with Roxy,  Peggy found herself delving into a profound exploration of the human-horse connection. Together, they learned to befriend and tend to their biology leading to deeper healing and connection.In gratitude, Peggy created Congruence Tucson, a place to share and hold the space for other human and horse awakenings to the healing power of their true nature.Connect with Peggy Okelly:CongruenceTucson.comInstagrampeggy@congruencetucson.comSend us a message. We'd love to hear from you.Music provided by Justin Tamminga

Meet Dotty PostoDotty started out as a business analyst and project manager. In these roles she repeatedly got 'Does Not Play Well with Others'. It wasn't until she was introduced to Change Management and Organizational Development work and received transformational coaching that her career and life shifted. Dotty has worked with iconic brands like The Chicago Tribune, KPMG Peat Marwick, Hewitt Associates, Harley Davidson, and Molson Coors. Dotty is a Leadership Consultant and Coach specializing in helping leaders and teams turn around the Curse of Cordial Hypocrisy where bullies have created a 'nice' organization and it's costing them money and opportunities and creating more risk. What is the curse of cordial hypocrisy?So, the curse of cordial hypocrisy is when you have people being nice, being agreeing. They're either being silent or they're being agreeable and it's a lie. So maybe they're afraid of someone or maybe they've been shut down in the past.Maybe there's someone who's just really dominating every conversation. And so they either stay silent or agree when they really don't agree. It creates a lot of problems in an organization because then you've got lower productivity in the background because people are behind the scenes.I'm not doing that. I don't agree with that. So there's all of this conversation in the background that is in disagreement with whatever was going on. Then whatever project or whatever they're trying to move forward isn't going to move forward. They're not going to get the same traction. They're not going to have the same speed. They're not going to have the same results. If not, everyone is in alignment, and not everyone agrees and not everyone wants to move forward. And you'll also find where people are doing this out of loyalty because they've been here a really long time.People aren't tapping into their own wisdom and the group is not leveraging the wisdom of everybody on their team.Do you do you actually see a difference in various industries or sectors and receptivity to these ideas? And if you do, what are some of the tools that people can use if it's not as natural for them to bring these into into how they do their work?I think there's validity to what you're saying in terms of manufacturing often being the old school or an old style of leadership. And when I say old style, some more of a command and control.I think age is part of it. There was a gentleman in a manufacturing plant I did some work with. After the eight months that I worked with them, the CEO retired. So he was an older leader and he and his leadership team, some of which were older, some of who were in their kind of mid career, and it took some time. They did create openness, but with that top leader being open to it.He has built some social capital with that team, and so I think that is a critical piece to have the trust. I was working with the HR manager who I had also worked with earlier in my career, and it took a bit for him to kind of crack open a little bit. But the more you've got senior leadership involved, this can make a difference. And it made a huge difference on his team. He had some very volatile leaders. He had some very defensive leaders. There's one activity that we did in the beginning that absolutely changed things. 2023 Edelman Trust Barometer:Navigating a Polarized WorldBuilding Trust: In Business, Politics, Relationships, and Life by Robert C. Solomon and Fernando FloresAnd so much more… Connect with Dotty!

Can reliability training be both entertaining and effective? The Manufacturing Game's Michelle Ledet Henley has a different approach to traditional training methods. Henley has worked with The Manufacturing Game since 1998 as a developer of new simulations and training material. She has traveled worldwide in her capacity as a facilitator and trainer for The Manufacturing Game and other simulations developed by Ledet Enterprises. Henley has been instrumental in developing simulations with a focus on reliability, project management and distribution. She began her career with KPMG Peat Marwick in San Francisco, and then worked for a real estate management and development firm in the Washington, DC area. Before joining The Manufacturing Game, Henley formed her own company, Innovative Interfaces, which provides computer programming services around the United States. Henley has a bachelor's of business administration degree from the University of Texas - Austin in accounting and information services.

Can reliability training the both entertaining and effective? The Manufacturing Game's Michelle Ledet Henley has a different approach to traditional training methods.Michelle Ledet Henley has worked with The Manufacturing Game since 1998 as a developer of new simulations and training material. She has traveled worldwide in her capacity as a facilitator and trainer for The Manufacturing Game and other simulations developed by Ledet Enterprises, Inc. Michelle has been instrumental in developing simulations with a focus on reliability, project management and distribution.She began her career with KPMG Peat Marwick in San Francisco, CA, and then worked for a real estate management and development firm in the Washington, D.C. area. Before joining The Manufacturing Game®, Michelle formed her own company, Innovative Interfaces, which provides computer programming services around the United States.Michelle has a bachelors of business administration degree from the University of Texas - Austin in Accounting and Information Services.Michelle's Contact Information:mrledet@manufacturinggame.comhttp://manufacturinggame.comlinkedin.com/in/michelleledethenleyThe following books were recommended on this episode:Don't Just Fix It, Improve Ithttps://a.co/d/gYvMKdIThe Story Telling Code by Dana Norris https://a.co/d/cCgTWNb

A Note from Marguerita Cheng, CFP® Pro — I invite you to tune in for this week's episode of my podcast and video show, Margaritas with Marguerita, where for 15 minutes, we learn from industry experts how to flex our financial muscles. Today's Topic: Sustainable investing and the rise of the activist investor featuring author John O'Connell Rita asks John:  What is an activist investor? What changes are coming together to cause a rise in activist investors? How is activist investing different from ESG or sustainable investing? What will be the effect of the Rise of The Activist Investor? Meet our guest: John O'Connell has more than 29 years of leadership experience in emerging businesses and mature, established organizations. He started his career designing and developing financial applications at Merrill Lynch and KPMG Peat Marwick. John then transitioned from developing technology into sales and marketing while leading the financial services vertical for Sybase. John was a member of the senior leadership teams for several startups culminating in an IPO and packaging 2 other firms for their sale. He returned to Merrill for several years and until its acquisition in 2008. He held North American leadership positions at Oracle for over 8 years. He was the president of a private FinTech firm and held C-level customer-facing roles at publicly traded InsureTech and FinTech firms. John was inspired to become an author for his three daughters, who are part of the Emerging Wealth Class. "They have solid careers and are interested in growing their wealth, but they were not prepared in school for investing," John believes. "Like many of their friends in the emerging wealth class, they live through social movements, are socially conscious, and want their investments to reflect their values." In his book, John explains that the Emerging Wealth Class will inherit an estimated $30 to $68 trillion in the expected Great Wealth Transfer when their aging parents die and transfer their accumulated wealth to their adult children. "Wealth has an enormous power to change companies and how they behave. "What happens if a company you think is a good investment does not align with your values, or worse, you've invested in them, and the company turns away from your values? How about companies that you believe are excessively paying their executives at the expense of their workforce? How can you change the direction of these companies? The Great Wealth Transfer in the hands of socially conscious investors will give rise to an activist investor movement." Click here to learn more about John: john-oconnell.com. Find his book for sale on Amazon. Learn more about Marguerita Cheng, CFP® Pro: MargueritaCheng.com • Listen to Rita's podcast show, Margaritas with Marguerita, on her radio channel: MargueritaChengRadio.com • Watch all of the show's video episodes on Rita's YouTube channel: www.MargueritaCheng.tv

Charley has been a CPA since 1990, and received his MBA from the University of Maryland and his undergrad from the University of Texas. He began his career in Big Six auditing with KPMG Peat Marwick, then segued into industry as a financial leader for public and privately held companies. His tax practice focuses on real estate investors and transactions specializing self-directed IRAs, 1031 exchanges, multi-year forecasting, focusing on Real Estate Professional status and utilizing passive losses. He's also been working the past fifteen years as a virtual CFO. His current CFO clients are Service Dogs, Inc, The Daily Dot, Austin Living Landscape, and several Real Estate Investment Groups. --- Send in a voice message: https://anchor.fm/donald-thomas6/message Support this podcast: https://anchor.fm/donald-thomas6/support

Behind every successful business is a visionary with a groundbreaking idea. But what many business owners fail to recognize is that the vision isn't enough—you need direction. And you can't have that if you don't know where you stand.For big-time entrepreneur enabler James Orsini, there are two vital things a growing business needs besides vision: knowing your numbers and integration. These allow entrepreneurs to recognize patterns and ultimately grow.James began his career in public accounting at KPMG Peat Marwick, where he discovered his natural propensity for creativity and business execution. He's since landed nearly all C-suite levels you can think of, such as MSL CFO, SITO Mobile CEO, eventually becoming CIO and then COO at VaynerMedia. Today, he collaborates with business savant Gary Vaynerchuck and is president of The Sasha Group: a VaynerX company built to help businesses grow exponentially.In this episode of the Perfectly Mentored Podcast, James Orsini discusses the significance of integration, understanding the numbers, and working with A-players in growing a successful business.Topics Covered:James Orsini's career journey. [2:09]Did you always see yourself as a creative person? [5:58]Are you more of a visionary or an integrator? [7:58]Have you ever felt any friction between old and new strategies? How did you share that with Gary? [11:42]What was it about professionals like Gary that attracted you to working with them? [14:59]How do you get SMBs to invest in hiring skilled, well-connected people and focus only on top-line revenue despite the financial risk? [19:36]Does it shock you that there are business owners who still don't understand their numbers? [23:07]What numbers should business owners be paying attention to the most on a daily basis? [24:56]Should you focus on your top line or your bottom line? [30:01]How do you go from managing people in one place with one work culture, then maintaining that in a remote setup? [33:25]What post-pandemic workspaces might look like. [38:58]What patterns have you seen and applied that business owners can use to grow and scale their brands? [41:10]How do you network with the A-players without sounding transactional? [45:00]Connect with James Orsini:InstagramLinkedInWebsiteTwitterConnect with us:Perfectly Mentored InstagramWatch the Interviews on YouTubePerfectly Mentored FacebookConnect with Jason PortnoyWebsiteInstagramWant to see how Jason and his team can help you grow your business? CLICK HERELike the episode? Watch and support us on YouTube

Season 4, Episode 7–Part 3: In the current series of Diplomatic Immunity, ISD Director of Programs and Research Dr. Kelly McFarland looks back at the first year of the Biden administration's foreign policy and looks forward to the next.  In the final episode of this three-part series, Kelly continues his conversation with Carolyn Brehm and Francine Lamoriello to discuss how the recent escalation of Russia's occupation of Ukraine to a full-scale military invasion has affected global trade, including how it has slowed down the COVID-19 economic recovery, accelerated decoupling of trade, and the long-term impact on globalization.  Carolyn Brehm retired from The Procter & Gamble Company as Vice President for Global Government Relations and Public Policy where she created and led P&G's team of sixty government relations practitioners based in key markets across the globe. She was responsible for public policy and legislative advocacy to protect and grow P&G's business, advising three Company CEOs over her seventeen years at P&G. She also oversaw a $24 million P&G Fund supporting initiatives in the communities where P&G operates. During a 13-year stint with General Motors Corporation, Ms. Brehm served as Director of International Trade and Investment Policy, supporting GM's international operations. During two overseas assignments with GM, she established an office in Shanghai in 1984 to conduct countertrade deals and returned to the region in 1996 as Director of Asia-Pacific Trade Policies and Strategy, supporting joint venture projects. She too is a graduate of the School of Foreign Service. Francine Lamoriello is Executive Vice President of Global Strategies for the Personal Care Products Council and directs all international activities and issues. Prior, Francine served as Senior International and Business Strategy Advisor at Baker, Donelson, PC, where she counseled clients on international business strategy and regulatory affairs, and international trade policy. Previously, she served for seven years as Director of International Trade and Investment Services at KPMG Peat Marwick where she led international strategy and marketing studies for a wide variety of U.S. companies. Lamoriello has also held positions at the U.S. Department of Commerce as Director of the European Community Single Market Program and specialized in US-EU trade policy affecting technology companies. And she too, is a graduate of the School of Foreign Service.  Episode recorded: April 15 & 20, 2022 Image: Secretary of State Antony J. Blinken, along with Secretary of Commerce Gina Raimondo, United States Trade Representative Katherine Tai, and EU officials, participates in a virtual stakeholder roundtable, in Pittsburgh, Pennsylvania, before the start of the inaugural U.S.-EU Trade and Technology Council (TTC) Ministerial on September 29, 2021. [State Department Photo by Ron Przysucha/ Public Domain]. Hosted by Kelly McFarland. Produced by Alistair Somerville and Kelly McFarland. Audio editing by Aaron Jones. Production assistance by Kit Evans and Eleanor Shiori Hughes.  Diplomatic Immunity: Frank and candid conversations about diplomacy and foreign affairs Diplomatic Immunity, a podcast from the Institute for the Study of Diplomacy at Georgetown University, brings you frank and candid conversations with experts on the issues facing diplomats and national security decision-makers around the world.  Funding support from the Carnegie Corporation of New York.  For more, visit our website, and follow us on Twitter @GUDiplomacy. Send any feedback to diplomacy@georgetown.edu.

Season 4, Episode 7--Part 2: In the current series of Diplomatic Immunity, ISD Director of Programs and Research Dr. Kelly McFarland looks back at the first year of the Biden administration's foreign policy and looks forward to the next.  In the second episode of a three-part series, Kelly continues his conversation with Wendy Cutler, Carolyn Brehm, and Francine Lamoriello to discuss how the Biden administration has approached trade with allies including the European Union, and the administration's engagement with the business community. Wendy Cutler joined the Asia Society Policy Institute as Vice President and Managing Director of the Washington DC Office in November 2015. She focuses on building ASPI's presence in Washington — strengthening its outreach as a think/do tank — and on leading initiatives that address challenges related to trade and women's empowerment in Asia. She served for nearly three decades as a diplomat and negotiator in the Office of the U.S. Trade Representative (USTR). Most recently she served as Acting Deputy U.S. Trade Representative, working on a range of U.S. trade negotiations and initiatives in the Asia-Pacific region. In that capacity, she was responsible for the Trans-Pacific Partnership (TPP) agreement, including the bilateral negotiations with Japan. She is a graduate of the School of Foreign Service. Carolyn Brehm retired from The Procter & Gamble Company as Vice President for Global Government Relations and Public Policy where she created and led P&G's team of sixty government relations practitioners based in key markets across the globe. She was responsible for public policy and legislative advocacy to protect and grow P&G's business, advising three Company CEOs over her seventeen years at P&G. She also oversaw a $24 million P&G Fund supporting initiatives in the communities where P&G operates. During a 13-year stint with General Motors Corporation, Ms. Brehm served as Director of International Trade and Investment Policy, supporting GM's international operations. During two overseas assignments with GM, she established an office in Shanghai in 1984 to conduct countertrade deals and returned to the region in 1996 as Director of Asia-Pacific Trade Policies and Strategy, supporting joint venture projects. She too is a graduate of the School of Foreign Service. Francine Lamoriello is Executive Vice President of Global Strategies for the Personal Care Products Council and directs all international activities and issues. Prior, Francine served as Senior International and Business Strategy Advisor at Baker, Donelson, PC, where she counseled clients on international business strategy and regulatory affairs, and international trade policy. Previously, she served for seven years as Director of International Trade and Investment Services at KPMG Peat Marwick where she led international strategy and marketing studies for a wide variety of U.S. companies. Lamoriello has also held positions at the U.S. Department of Commerce as Director of the European Community Single Market Program and specialized in US-EU trade policy affecting technology companies. And she too, is a graduate of the School of Foreign Service.  Episode recorded: February 10, 2022 Image: USTR Ambassador Tai gives keynote in Geneva on the future role of the World Trade Organization (WTO) in the global economy and how it can deliver broad-based inclusive growth with the U.S. Mission in Geneva on October 14th, 2021. [U.S. Mission photo/ Eric Bridiers] Hosted by Kelly McFarland. Produced by Alistair Somerville and Kelly McFarland. Audio editing by Aaron Jones. Production assistance by Kit Evans and Eleanor Shiori Hughes.  Diplomatic Immunity: Frank and candid conversations about diplomacy and foreign affairs Diplomatic Immunity, a podcast from the Institute for the Study of Diplomacy at Georgetown University, brings you frank and candid conversations with experts on the issues facing diplomats and national security decision-makers around the world.  Funding support from the Carnegie Corporation of New York.  For more, visit our website, and follow us on Twitter @GUDiplomacy. Send any feedback to diplomacy@georgetown.edu.

Season 4, Episode 7--Part 1: In the current series of Diplomatic Immunity, ISD Director of Programs and Research Dr. Kelly McFarland looks back at the first year of the Biden administration's foreign policy and looks forward to the next.  In the first episode of a three-part series, Kelly is joined by Wendy Cutler, Carolyn Brehm, and Francine Lamoriello to discuss how the Biden administration has approached international trade in the broader framework of its foreign policy for the middle class, technology, and China. Wendy Cutler joined the Asia Society Policy Institute as Vice President and Managing Director of the Washington DC Office in November 2015. She focuses on building ASPI's presence in Washington—strengthening its outreach as a think/do tank—and on leading initiatives that address challenges related to trade and women's empowerment in Asia. She served for nearly three decades as a diplomat and negotiator in the Office of the U.S. Trade Representative (USTR). Most recently she served as Acting Deputy U.S. Trade Representative, working on a range of U.S. trade negotiations and initiatives in the Asia-Pacific region. In that capacity, she was responsible for the Trans-Pacific Partnership (TPP) agreement, including the bilateral negotiations with Japan. She is a graduate of the School of Foreign Service. Carolyn Brehm retired from The Procter & Gamble Company as Vice President for Global Government Relations and Public Policy where she created and led P&G's team of sixty government relations practitioners based in key markets across the globe. She was responsible for public policy and legislative advocacy to protect and grow P&G's business, advising three Company CEOs over her seventeen years at P&G. She also oversaw a $24 million P&G Fund supporting initiatives in the communities where P&G operates. During a 13-year stint with General Motors Corporation, Ms. Brehm served as Director of International Trade and Investment Policy, supporting GM's international operations. During two overseas assignments with GM, she established an office in Shanghai in 1984 to conduct countertrade deals and returned to the region in 1996 as Director of Asia-Pacific Trade Policies and Strategy, supporting joint venture projects. She too is a graduate of the School of Foreign Service. Francine Lamoriello is Executive Vice President of Global Strategies for the Personal Care Products Council and directs all international activities and issues. Prior, Francine served as Senior International and Business Strategy Advisor at Baker, Donelson, PC, where she counseled clients on international business strategy and regulatory affairs, and international trade policy. Previously, she served for seven years as Director of International Trade and Investment Services at KPMG Peat Marwick where she led international strategy and marketing studies for a wide variety of U.S. companies. Lamoriello has also held positions at the U.S. Department of Commerce as Director of the European Community Single Market Program and specialized in US-EU trade policy affecting technology companies. And she too, is a graduate of the School of Foreign Service.  Episode recorded: February 10, 2022 Image: Secretary of State Antony J. Blinken, along with Secretary of Commerce Gina Raimondo, United States Trade Representative Katherine Tai, and EU officials, participates in the inaugural U.S.-EU Trade and Technology Council (TTC) Ministerial in Pittsburgh, Pennsylvania, on September 29, 2021. [State Department Photo by Ron Przysucha/ Public Domain] [State Department photo by Ron Przysucha/ Public Domain] Hosted by Kelly McFarland. Produced by Alistair Somerville and Kelly McFarland. Audio editing by Aaron Jones. Production assistance by Kit Evans and Eleanor Shiori Hughes.  Diplomatic Immunity: Frank and candid conversations about diplomacy and foreign affairs Diplomatic Immunity, a podcast from the Institute for the Study of Diplomacy at Georgetown University, brings you frank and candid conversations with experts on the issues facing diplomats and national security decision-makers around the world.  Funding support from the Carnegie Corporation of New York.  For more, visit our website, and follow us on Twitter @GUDiplomacy. Send any feedback to diplomacy@georgetown.edu.

John Burns co-authored Big Shifts Ahead: Demographic Clarity for Businesses, a book written to help make demographic trends easier to understand, quantify, and anticipate. Before founding John Burns Real Estate Consulting in 2001, John worked for 10 years at KPMG Peat Marwick—2 as a CPA and 8 in their Real Estate Consulting practice. John Burns founded the company to help business executives make informed housing industry investment decisions. The company's research subscribers receive the most accurate analysis possible to inform their macro investment decisions, the company's consulting clients receive specific property and portfolio investment advice designed to maximize profits. Gary Beasley is CEO and Co-Founder of Roofstock, the leading online marketplace for buying, selling and owning single-family rental investment homes. Recognized as a leader in the future of real estate, Roofstock was featured on Forbes' 2019 Fintech 50 list. Gary has spent most of his career building businesses in the real estate, hospitality and tech sectors. After earning his BA in economics from Northwestern, Gary ventured west to earn his MBA from Stanford, where he caught the entrepreneurial bug and still serves as a regular guest lecturer. Immediately before starting Roofstock, Gary led one of the largest single-family rental platforms in the U.S. through its IPO as co-CEO of Starwood Waypoint Residential Trust, now part of Colony Starwood Homes. In this episode, we discuss the current state of the real estate market and the economy more broadly. Gary and John share their thoughts on what has been happening year over year in the housing market; what 40-year highs of inflation, rising interest rates, and geopolitical unrest mean for real estate investors; and highlight some of the risks that investors are faced with today.    Episode Links: https://www.realestateconsulting.com/ https://www.linkedin.com/company/john-burns-real-estate-consulting/ https://www.linkedin.com/in/gary-beasley-956647/ https://www.roofstock.com/ --- Transcript Before we jump into the episode, here's a quick disclaimer about our content. The Remote Real Estate Investor podcast is for informational purposes only, and is not intended as investment advice. The views, opinions and strategies of both the hosts and the guests are their own and should not be considered as guidance from Roofstock. Make sure to always run your own numbers, make your own independent decisions and seek investment advice from licensed professionals.   Michael: Hey, everyone, welcome to another episode of the Remote Real Estate Investor. I'm Michael Albaum and today with me I have two very heavy hitters in the real estate space. John Burns, CEO of John Burn's real estate consulting, and Gary Beasley, co-founder and CEO of Roofstock. So without further ado, let's jump into hearing their thoughts and opinions around what's been going on in today's real estate market.   John Burns and Gary Beasley so happy and excited to have you both back on the podcast. Thank you for taking the time to hang out with me today.   John: You bet.   Gary: Hey, Michael, great to see you.   Michael: So I of course, know a little bit about both of your backgrounds and who you are. But for those of our listeners that might not be familiar with who you both are, if you could give us a quick two minute, two second intro of who you are, where you come from, and what it is you're doing in real estate and John, if you want to go ahead and start, that'd be great.   John: Okay, I'm the CEO of John Burn's real estate consulting, I founded it back in 2001, to figure out what's going on the housing market for a lot of people, mostly big companies and that's what we do.   Michael: Love it and Gary?   Gary: Sure, I am Gary Beasley, I'm the co-founder and CEO of Roofstock and we've been at this for about six and a half years now. Building out really the complete ecosystem for single family rental investors and I've known John now, I think, John, since about when you started the company, it feels like we've known each other for a while we when we I think when we met we we both had dark hair. Remember that?   John: It's been a very long time.   Michael: That's great. Well, I wanted to chat with you both around a lot of things that I've been getting questions about, and I'm sure that the two of you have as well and that's just kind of what's been going on with the housing, market and economy over the last couple years since the pandemic started. So I would love to just jump into things get into the meat and potatoes and get both of your thoughts on really year over year, what's been going on at the macro level in the housing market.   John: Well, I guess I go first, if you let me go back maybe three years, so but pre the pandemic because I think it's relevant. The housing market was extremely hot. We have a different view than a lot of people on on how undersupplied the market was, we don't think it was I just applied at all actually until about 2019, then it started to be under supplied and with interest rates. So damn low everywhere in the world, people had figured out that single family rental housing was a great investment just to get some yield and we were seeing a lot of investors come in to the market, then COVID hit so you know investors are very volatile. They stopped for a few months, and then they came back very strong and probably the biggest difference in the last year is the fear of inflation has piled in on top of the need for yield and it's double the reason to invest in rental homes. So we're seeing money from all over the world focused on housing in America.   Gary: I would agree that clearly the residential market has been booming and I would say despite a number of factors that you would have thought might have slowed it down. We went through a global pandemic, and housing chugged right on through and we could talk later perhaps about why some of those things happen. But the reality is really kind of across price points and geographies. You've seen robust demand for housing and if you look at price increases year over year, John, I know you track the SFR space really closely and it kind of mirrors what's been going on even if you look at owner occupied sales, but home prices have been going up call it 15 plus percent, year over year, pretty consistently. That's a big number, when you think about historically, it's been about 4%. If you go back 40 years on a compounded basis. That's how it had been up until fairly recently.   So a lot of you know in rents have lagged that a bit but you've seen high single digit to low double digit rent increases as well in a lot of these markets and so in oftentimes, I feel rents are a little bit of a lagging metric because especially a lot of the mom and pop owners don't raise rents every year don't raise them, really even to market so we're seeing a lot of homes come to market today that have rents that are 10 or 20%, below where the markets are today. So, so you've got just a lot of demand for the product and, you know, we're at an interesting time now, and I'm sure we'll talk about, you know, some of the current dynamics in the market, interest rates have moved up quite a bit in the last, you know, month to six weeks, we've got a lot of interesting things going on geopolitically, we're not yet seeing that impact, demand or pricing. One would think that those factors should that have an impact over time. But for now, I think just the supply demand dynamics very, very much in the favor of demand over supply.   Michael: Okay. Interesting and I'm curious to get both of your opinions on this, I mean, we are at such a unique time, kind of in history and curious to know your guys's thoughts on do you think that real estate investing fundamentals have it all shifted because of where we find ourselves today? John, I'll let you go first on this one.   John: I don't know if the fundamentals have shifted, because I've seen this game before. But what is different is that by investing in rental homes has become a very easy thing to do, thanks to Roofstock and others. I mean, prior to 2012, you couldn't get on your computer and figure out exactly how much a home was worth and how much it could rent it for in about five minutes, you can now there's all sorts of vehicles where you can invest in funds and completely passively invest in housing and I think it's become an asset class that really was very illiquid, and pretty lumpy before that now has become more liquid and I think that is a permanent change in the market, doesn't mean things can't go down. But I think it's actually had a permanent positive increase permanently on home prices.   Gary: I would agree with John, I don't think the fundamentals, I don't think the fundamentals of real estate investing have changed. But I would say perhaps some of our maybe preconceptions or assumptions about how it would perform is I kind of mentioned earlier, or maybe a little bit challenged, and that there's just so much demand for the product and in the pandemic. You know, it was almost counterintuitive that home prices would go up and rents would go up. But when you think about the fact that people really demanded shelter, safe shelter, and there was an exodus of from a lot of the coastal cities to secondary and tertiary markets drove a lot of that demand. So but I think still, the fundamentals of real estate are very much about location and supply and demand. Those things, those fundamentals I think are true. I think one of the things we're seeing though is perhaps there are different things get that can drive, demand and pricing for different types of real estate assets. So if you look at for example, housing, and industrial, which have done quite well, throughout the throughout the pandemic and the aftermath, and then you had some real estate asset classes that really suffered, because you look at office and retail and and REIT in hotels, things like that. So it's it. I think real estate broadly can be influenced by different things. The fundamentals of each have to be examined, but certainly for housing. It's been it's been very strong, despite what might you might have considered some some headwinds.   Michael: Okay, interesting and you both touched on inflation in the conversation thus far and so I'm curious to know, how much of the demand do you think is being really driven by inflation? And do you think that folks are right or wrong to be considering real estate investing as a hedge or as a defense against inflation?   John: People's expenses are going up and your investments should beat inflation and nothing in the treasury market does it in fact, nothing in the high yield bond market pretty much does it now too, I don't know how you earn returns. But this was going on pre COVID and that's why I mean that there was a surge of money coming into the market pre COVID. We at our conference at the end of 2019, we had Bruce flat, the CEO of Brookfield asset management, who at the time manage more than $500 billion was fundraising all over the world and he literally said that this is the most significant thing he seen in the last 15 years, is everything that produces cash is gonna go up in value, and that was pre COVID and so that this this has just got even more accelerated because inflation wasn't even part of the equation. Now if you're now if you need to beat inflation in your return and inflation is right now the latest print is seven 8% where you're going to get seven or 8%? And so housing, if wages go up which they are, you can raise rents, if the cost of the structure going up is going up, which it definitely is, every single component in the house has gone up, their cost of construction has gone up at least 10% in the last year. That's an inflation hedge too, because nobody's gonna replicate what you own for the same amount of money. It's very much an inflation hedge.   Gary: Everything points toward continued inflation, in my view in the housing market. Now, that being said, interest rates going up, you would think should moderate that. That's an offsetting influence, but the cost of the inputs, the labor and the materials, clearly upward pressure, everything that's going on in the world, disrupting the global supply chain, and the cost of transport and all that putting upward pressure, Pete wage inflation to keep people in their seats, and to hire people. That's allowing people to have more and more money to spend on housing that's also pulling pricing up. It's hard to see how much that's going to, in an absolute basis reduce the price of housing, I do think that we will see some moderating of the rate of inflation of homes over the upcoming quarters and years, I think that 15% is gonna come down naturally. But I don't see, I don't see it coming down to the point where it actually reverses and you see absolute price declines, like we saw in that really unusual time in the Great Recession, which was, arguably a once in a generation adjustment to housing prices there. I think, a lot of fundamental differences between what we're seeing today and and what we saw back then this is not a credit bubble.   John: So I agree with everything you said until this is not a credit bubble. I mean, maybe you meant a credit bubble on housing, because I agree with you.   Gary: That's what I mean, I mean that there's a lot of embedded equity, as opposed to people, you know, having 3% or less equity in their homes, they've got 20 plus percent equity. Now, you can talk about the I wasn't speaking to the global kind of free money, credit bubble, but…   John: Well, that's a I think there's a credit bubble going on in the world on pretty much everything else. I mean, Dodd Frank, made it impossible to do it on a mortgage going through a bank. But people are lending against crypto, it's the highest borrowing and stock prices ever. We're seeing deals even in single family rental that well, I would say are being done with pretty much no due diligence, because it's a mess piece. So there's a little bit of equity in front of me and what I worry about is a recession caused by a credit bubble outside of the housing market, which impacts housing demand and you know, that's when housing was struggle, but I think everything else in the world would struggle at the same time, maybe even more, so. So I'm not, I'm not saying get into stocks or bonds, because it's just that, that that's what caused the great financial crisis, and it was housing last time. I think it's other stuff this time. We were seeing flip flipper loans are being securitized on Wall Street. I mean, there's, you know, I see that in my business, one of my clients is lending against crypto balances. You know, I think another famous person just came out and said, if you've got if you can put up crypto, I'll give you the value of your crypto to make a down payment for a house, that there's some different stuff going on. That concerns me but not on buying rental homes or Roofstock more concerning on the economy.   Michael: Okay and so curious, John, just, you know, personal thoughts. What's a good defense?   John: You know, normally it would be cash, but holding on to cash it goes down 7% in a year. So I think Howard Marks who's a famous investors calls this an everything bubble. We're in an everything bubble right now and how do you invest in an everything bubble? I have no idea. That's why I run it…   Gary: Maybe maybe negative interest rate German bonds don't seem so crazy.   Michael: Yeah.   John: Well, no, exactly. So, so if you're, if you know, in the coming world, losing 3% is probably a good deal relative to everybody else if that's if that's how that plays out.   Michael: All right, well, keep both you keeping your eyes and ears peeled and let me know if you hear something great for hedge against the everything bubble, I'd appreciate it.   John: Well, it's it's still specific. I mean, that that's what the smart people aren't doing. They're just, they aren't going to do just a sector. They're looking at everything carefully and in this industry, if you don't have a lot of competition going around where you're making investments, that's a far safer place to be if there's some great job growth in your conference. In a job growth because those employers are profitable and making money and going to be there all the time, that's a different story than the job growth being in a sector that's currently losing money, for example.   Michael: That makes total sense, that makes total sense. I'm curious if we could take a step back and understanding that neither of you work for the Federal Reserve, but I'm curious to know your thoughts and kind of get some insight into? I mean, you talked about the wage growth going up, and then the cost of goods and services going up? How do we not get into this upward death spiral? And I know, Gary, you mentioned, you know, raising interest rates could curtail that, but it seems like there's just so much money out there how to, how do we kind of ease down from this?   Gary: Yeah, well, I think there's it I don't know, if there's been a tougher, it's never easy being involved with setting Fed policy, but you have a lot of things to balance here. This is a tightrope act. So you want to slow the economy here, enough to curtail inflation, yet, not necessarily throw it into a big recession, you've got a lot of things going on overseas, that should you could argue are already going to cause things maybe to slow a bit because of what's going on over there. So do they need to pump the brakes as much here. So maybe that means that the Fed doesn't raise as aggressively here and what that may mean is, you know, rates grow a little bit more slowly and maybe the economy tends to overheat despite the global weakness. So it's a really, really challenging balancing act, I think that the Fed is under enormous pressure to curtail inflation and so I think, despite that, we'll probably err on the side of pumping the brakes a little bit heavier, even though that may mean we're risking recession. That would be I'd be curious, John, if you have a view. But if I had to, like on the continuum of what they're more worried about right now, normally, they're, you know, I would say that they've been historically more worried about not wanting to put us in the recession. But we've never, in a long time had these sort of inflationary pressures and in particular, where I think people feel it, it seems to be at the gas pump, right? We're always talking about fuel prices people feel that very deeply and there's a lot of political pressure, even though the feds, in theory, a political, political pressures tend to work their way into those decisions.   John: Yeah and my 30 plus years of paying attention to this, I've never seen the Fed more politically tied than they are right now. They frankly, they seem to me to be puppets of elected officials. I mean, the fact that Powell had to announce for months and months and months, they were going to raise rates, but never raised them once until he got reappointed will tell you something. So I mean, I always honestly think it seems to me like elected officials are calling the shots right now and I think the ultimate fear is a recession or we want to get inflation down, because inflation isn't good either and then, you know, the way I think about this, too, is there's, if you really talk about people's true costs, there's a huge variation in inflation. So if you're a homeowner who owns your car, you know, your your housing costs haven't gone up at all, maybe you got a little bit of a property tax reassessment, you haven't had to go back and purchase a car or release a car and if you are close to work or working from home, frankly, your cost of living might be down over the last year or two.   If you're somebody who's commuting to work, Rance had to you know, really your lease was up had to get another car. I mean, your cost of living can be up to 15 to 20% and the Fed seems to be focused on those people, rightly or wrongly. But that that's how I'm thinking about this is it's a huge difference in what's actually happening depending on what you are, and then the wage growth. You know, if you're in the hospitality sector, you haven't seen anything. But if you're a construction worker or a truck driver, your wages are up dramatically. So and those are the ones I that we're seeing that are buying homes, renting homes, people that are affluent, able to work from home, hey, I can I can now go out to the suburbs and rent a really nice house and my housing costs are gonna go down, not up because my boss says I only need to come into work twice a week. So it's it's very complicated story on picture painting here, but that's exactly I think how the Fed is looking at it.   Gary: Yeah. And then you also have, obviously those who own assets versus not I mean, this is similar to what John was talking about, but not only can you have the cost of living impacted a lot, a lot less if you own your assets. But in fact, John, you may know this figure I read it, I think last week, some fairly sizable percentage of the US population made more off of their homes this year than they did from their jobs. The power, the power in an inflationary environment of owning assets, it's kind of hard to overstate it. That I think one of the reasons, I think we're seeing more and more kind of first timers wanting to own their first investment property, even if they aren't in a position to own the home they're living in right now. Going to some of these lower price markets, and getting on the ownership bandwagon and just writing that asset appreciation. It's, you know, it's a powerful force.   Michael: Yeah, absolutely.   John: I think you were going to say, it's a powerful drug.   Gary: Well, some people do become addicted to it…   John: We're starting to see that. So people are taking the $200,000 in price appreciation of their house with a refi out of their investment, and then using it to buy three or four more homes, right, that that's what's going on right now. So it is it is addictive.   Michael: Yeah. That makes total sense.   Gary: Yeah. Well, it's been it's been a, a tried and true, a tried and true way for real estate investors to make money, right is to buy that first property, refinance it, take that money, buy more properties and build. But I think, John, to your point, what's happening is, a lot of people are doing that with their primary home equity to get started, as opposed to being more of the intentional investor who just started to do that, I think more and more people are doing it with, you know, equity in their homes, which I think in many ways makes a lot of sense from a diversification standpoint, rather than having so much of your wealth, personally tied up in a single property address, where you happen to live, where you're really subject to the vagaries of your local real estate market, local job market, all that kind of stuff, because that's where you tend to work to diversify into other markets and other assets, I think does make a lot of sense.   Michael: John, would you agree?   John: Yeah, no, diversification makes a lot of sense. I just, I also think it makes a lot of sense to watch how much leverage you've got and to make sure you've got the cash flow, you know, just in case something bad goes wrong. And I think people that are investing like that, and doing exactly what you're saying, are going to be great. But last time, what we saw was, people just were ignoring that and then you lose your job, and then you lose your tenant, and you're your host. So you got you got to be careful here and I think the more I'm a generalized a little bit here, but the more mature people that have seen this before doing that, and I'm sensing the younger people only think home prices only go up and I are more willing to take more risk than I would recommend.   Michael: John, kind of to that point. I'm curious to get both your guys' thoughts if someone is taking out equity their home, because interest rates are so low, and they've seen the value go through the roof and they're going to go buy investment properties. What's the harm? What's the risk there? I mean, and how does someone know if they are over leveraged? If their cash flow is covering their mortgage payments? I mean, if the value dips, nothing really changes for them from a payment standpoint. So how should people think be thinking about being over leveraged or how much risk is too much?   John: I mean, that's a very personal decision for folks. You know, confidence in your employment situation is probably the most important thing and depends on what you do.   Gary: Yeah, I think, Michael, I mean, to your point, as long as they think it is an important point, in a rental home portfolio. Yeah, even if prices drop of that home and you've got a fixed mortgage, your payments don't change, right and unless rents come down, which they traditionally have not, they tend to be more sticky in single family rentals than say in apartments. We followed a lot of that data over time. So you should be okay. Even if on paper, the value of your home, your rental home has gone down. But I think in the primary residence, which is where John I think was going is if you let's say you have you know, 60% equity in your home and you lever it up to 90 through various means, then all of a sudden, you may be at a point where if you lose your job, and you don't have the reserves, you may be in a little bit of a tougher spot because you don't have that home equity to tap, which historically has just been a really nice thing to have as as a safety net and so when that if that were to happen you might have to sell some of your other properties or you have your equity elsewhere and it's not like you can't necessarily get at it.   But I do think in times where you do have some uncertainty, some global uncertainty and some things like that, having some reserves, make sense, not being over levered, make sense, play the long game, I think that's one of the things that we talk to people a lot about is, this is not a, you know, get rich, quick fix and flip, you know, strategy when you're buying investment properties?   Michael: Are you serious?     Gary: So over the long run, Michael, you're going to do just fine. But you have to be patient. So no, but there's plenty of there's plenty of ways you could make bats to win quickly win or lose quickly. But that's generally not what people are doing with us and I think there's times when people are more risk on is a lot of confidence to maybe lever up and things like that, I think this is a time to be more a little bit more thoughtful about all about leverage ratios and so yes, you give up some levered return, potentially. But if you're in a, I would argue if you're in a place where home prices are going up at such an extraordinary rate, you don't need as much leverage to get a phenomenal return. Even if you're only 50% levered, and your home's going up seven or 8% a year, that asset level, you know, obviously, you're doing much better than that, and the return on equity level, so I would say just don't get greedy. It's a long game and you know, make sure you're, you're around to, you know, fight another day, in case there's any sort of corrections.   Michael: To play the end of the game.   John: I mean, that that's the perfect, that's how I see it, too, is cut the long game. And that's how everybody who's been doing this for decades will all tell you that that's exactly the way to play it. I am I am seeing and hearing and running into 20 somethings who aren't listening to Gary's advice and I have no idea if that's 1% of the market or 40. But they're out there and fortunately, they're not getting loans from banks that 90% LTV, at least that I can find, so that's, that's good.   Gary: I mean, Michael, you talk to a lot of people all the time, what is what is your assessment are people do you think people are thoughtful about this? Do you think that is? Do you agree with John, that people who might not have seen a down cycle might be overly optimistic or do you think that they're better informed?   Michael: Yeah, you know, I think it's really a mix of the two, I think that there are two big camps. One camp says this is going to go on forever and that tends to be the folks that haven't seen a recession before and then there's the folks that say, you know, we're it's got to come down at some point and so let's just kind of see what happens and those tend to be the more seasoned folks. So I'm curious, I'm curious to get your guys's thoughts on for those two camps and someone who's just trying to get started trying to get their foot in the door? How should they be thinking about that, is this something that they can kind of catch on the upswing or is do they really need to be a bit more timid and reserved and say things are maybe a little bit too hot right, now let me let me just take a seat on the sidelines and see how this all plays out?   John: So we've been calling this the high risk high reward the part of the cycle now for 13 months. So I would have told you 13 months ago to be cautious and the person who would have taken a lot of risk what I made far more money than the person who listened to me so but that's how these things play out at the end at the end of the cycle. When you take a lot of risk you should make a lot of reward right? But you know, you also need to know when to take some chips off the table you know, unless you believe we're never going to have a recession again which I don't believe that and then also what Gary said has been very true for single family rental rents. The rents have been very stable over time compared to apartments because there's basically been very little construction of rental homes forever and there's always been a ton of construction in apartments and that's when you get hurt killed is when you know three huge apartment complexes open up down the store down the street totally empty and have to lease up 500 units you're done that even though billed for rent is growing pretty significantly in Phoenix right now it's still a lot smaller level of supply than apartments. So this is a more stable investment than comparative some other rental classes for sure.   Gary: Yeah, it's it's really we like to say it's a lot easier to go up then sideways because if you could you go vertical with apartments and it takes a lot more land and it's typically much more difficult to add the single family rental supply and then over time, you also have more than one on exit on the on the rental homes because you could you could exit to a yield investor or ultimately, an owner occupant. So that's I think one of the things that I've always liked about single family rentals is you've got built in optionality. It's very rare in a real estate investment, to have two very distinct buyer sets on the back end, right. You have an office building, you're going to sell it to an office investor. Same with a hotel, they would, but so this is, you know, I think a unique aspect of single family rentals, which gives, you know, it kind of gives investors a bit of a of a hedge.   Michael: Yeah, that makes total sense. Curious, what do you tell investors who come to you and say, John, Gary, you know, I can't seem to break in, all my offers are getting outbid by all cash offers that are 10 to 15% above asking, I can't go that hi, how can I get my foot in the door? What should I be doing? What tactics should I be using?   John: I mean, I might be the wrong person to ask because my clients tend to be very large companies, and this is for their capital partners, this is less than 10%, or maybe of what they're investing in the spectrum of certainly less than 20%. So they may be all in in this industry. But it's it's not, what you're alluding to, is maybe somebody with 100% of their net worth or 80% of their net worth getting in. That's, I don't advise on that, I mean, people are building rental homes, with the appropriate amount of leverage in good locations. That's where we're coaching people to go, there's also people building rental homes, with a lot of leverage in tertiary locations, right, where there's a lot of other construction going on and that that would be to me a higher risk scenario. I think I think there's room for 100 unit rental community, brand new built in every city in America of size, because you can pull it there's 1000s of people that rent ratty old homes with lousy landlords, and there's a percentage of them that would really love to rent something new. Well, and what's your biggest fear is the tenant that said, they're going to sell the house you live in it, you're gonna have to move out? Well, you know, if you're in a rental community that's owned by a public REIT, they're not selling the house, you know that that fear is gone. They may charge you a little more, because it comes with better service and other things. But I think that's a tremendous long term opportunities to build rental homes.   Michael: Interesting perspective, Gary?   Gary: Yeah, well, I would say, people should do their research, and be patient, be opportunistic, but but not be afraid to act with conviction when they find things that make sense for them and so I think, what we find is, on Roofstock, a lot of times people will come and they will look at properties for months and months and months and talk to people and kind of develop their strategy and eventually, something is going to hit your radar, that's going to check most of the boxes and in this market when that happens, as long as you've done enough work to kind of know this, then be ready to act, you know, I wouldn't recommend somebody come and buy the first home they see because then you're not you just don't have enough data. But when you see where these things are trading and all that, and so that's why I say you know, be disciplined, but also act with conviction, when you find something that does work if you do want to get exposure.   Otherwise, you could sit back and just sort of watch things. But you can also wait a lot of times with stock market, also people want to buy on a dip and just wait, maybe there is a little bit of a correction and that could be a time for people to want to wade back in. The challenge with waiting for a dip is, as John pointed out, there just hasn't been even throughout COVID there's been no dip, it's just, you know, been up into the right and, and so, you know, I don't recommend people just, you just buy because of the momentum, right? You want to, again, you want to feel good about the markets you're buying in and the home that you're buying. But also, it's really hard to time a market. It's just it's almost impossible. So heard that that's why overtime, we recommend people not, you know, even if you're only in a position to buy a home now once but, you know, have a design to own a portfolio of them over time and buy them at different points in the cycle and over time you get that market exposure. It's just, it's hard to time your ins and outs perfectly.   Michael: Yeah, yeah. Okay, cool. Well, I'm curious now to get your guys' thoughts and opinions looking forward, which I know is always a dangerous thing to do, but I'm going to ask you both take out your crystal ball and in talking, John, you mentioned about new newly built homes built to rent communities and so I'm curious to hear your opinions around, if the housing starts that we're seeing, since COVID, are going to have an impact, you know, several years down the road 8-10, you know, 5-10, eight years down the road, kind of like we're seeing now, as a result from the 2008, lack of home starts.   John: Yeah, we've done more research on that than anybody else. There's a couple people with some very simple analysis that says we're short, about five to 6 million homes. I think we're short about 1,000,007, which is still a lot of homes and that's not the same shortage in Buffalo as it is in Dallas. So you know, this is we've got the numbers by market. But at a high level, if we're short, 1,000,007 homes, there's 1,000,007 homes that have brand new homes that have paid for our permit that haven't been finished yet. So we've got all of that under construction and it's taking about nine weeks longer to build a house for the best production builders in the country. So this is taking a very long time, so it's going to be at least a year before we satisfy that, because there will be some growth along the way, too. So I'm not what is different about this cycle is the lack of construction. But what I want to point out is there's this notion that the low level of supply just means that this is almost a sure thing and I think the most important thing for housing has always been job growth always, even rates can go up dramatically. But if everybody's got their job, okay, we're, you know, maybe prices will be flat for a while, but we'll be fine. It's when you see massive job losses that we cycle down hard.   So that's why I was I was bringing up earlier the whole credit cycle issues. You know, know, if we if we knew exactly how much debt every company had in every industry had and how much they could cover their cash flow, I think I'd have more certainty. Some analysis I've seen is there's quite a few publicly traded companies that aren't currently generating enough cash to pay their debt service. That makes me concern they're not in the housing industry. In fact, the homebuilders have never been better capitalized like, they're amazing. They have the lowest debt levels ever and the bonds that oh, yeah, and the bonds they borrowed, they don't mature for like four or five or six years. So I mean, the homebuilt talk about a safe play, in terms of going through the cycle, I think it's the builders. I'm not recommending stocks, because I don't do that for a living, because I think all of this is priced in. But I'm telling you, publicly traded home builders are very, very strong, right now.   Gary: Yeah. You know, it's interesting, because John does such good research. So I have no reason to doubt the million seven. But I have seen, you know, estimates between four and 6 million homes deficit in in. So I don't know what the right number is and I'm sure that the method, there's methodologies that but but it's still, it's a couple of at least a couple million homes. The question is what, you know, what does that mean, going forward? Do we catch up as quickly? Can we catch up in a year or two?   That's, I think, optimistic. I think it'll be interesting to see if we do. One of the things that John mentioned was job growth, and that historically has been a real driver. What I think is so interesting now is jobs are so distributed and because companies are adding jobs doesn't mean the jobs are going to be where the companies are located and that kind of makes everyone's head explode. If you're trying to forecast, what's the impact of job growth, it really comes down, arguably, more to population growth. So local jobs are one thing and some things have to be localized, right? If you're going to work at a hotel, the hotel is in a particular place, if you're going to be a software engineer, working for Apple, you know, maybe you could be anywhere or any of these other places and so it's a it's a different calculus than I think it was 10 years ago of treatment, trying to forecast job growth from companies and then okay, well, people are going to need to live within a 30 minute commute or 45 minute commute it that's all upside down. So I think it does bode well for some of these secondary and tertiary places that have seen disproportionate growth. But then you also have these places like in Austin that continue to explode and arguably housings no longer very affordable but they keep building more houses and people keep buying them and keep renting them and there's plenty of land in a place like Austin and so I think almost looking at where taxes are low, and people can still get relatively affordable housing almost seems to be more powerful than local job growth. But I'd be curious about, you know, John's view of that.     John: No, he's right. There's a there's a large sector of the economy where you can live wherever you want and I mean, we, we've been doing this since before COVID, as I was never, never believed that all the best people to hire on the world, we're always within commuting distance in my office. So we've been hiring in good locations, and but you got to get the right person who can do that and companies have figured that out now. So your it is about a great location, it is about where I can get a lot of house for my money if I'm a tenant, or if I'm a homebuyer or I can pay lower income taxes, or I can have better weather. So it's really the same place as people were moving pre COVID. It's just more people have been given the permission to move. So you're right, the job growth. It's pretty correlated to the metro area. But I would say the more outlying areas should see more price appreciation, and they are seeing more price appreciation right now, because more people are being allowed to go there.   Michael: Okay.   Gary: Yeah and it's almost interesting. It's a little bit like the job, the jobs are almost coming with the people. So you think of a place like Boise, Idaho, where people move there not for jobs, necessarily, but because they could bring their jobs with them and they all had all this embedded equity in their homes for more expensive markets. So now you have all these people moving into a market like Boise, and you get incredible growth in the prices of homes in Boise. But now people are working from Boise. So are those jobs created in Boise are there jobs that now exist in Boise because it was inexpensive, and it's a nice place to live?   Michael: Yeah, I was gonna ask John, does that make it kind of squirrely to nail down that job growth metric because of this new phenomenon?   John: Yes and no, so there's two jobs surveys, there's one where they call the employer and said, how many people did you hire this month? That's based on where the employer is located. But the one where they call people and say, are you looking for work or not, that comes up with the unemployment number, that's where you live. So actually, we always triangulate the two. So I'll use my example. So we perfect example, I'm in Orange County, California, we hired somebody in Boise, but she could live anywhere. She's showing up on my here in Orange County on one survey, and she's showing up in Boise and the other, so you just you need to look at both the sample size on where the company's located is higher and better and the unemployment number at the Metro levels more volatile. So you got to look at a trend over time and not just overreact to a month or two.   Michael: That's super interesting. Okay, and great to know, too. So, the last question I have for you both, and I think I already know the answer. But for everyone listening, I'm gonna ask on their behalf and your guys' opinions, have there been asset classes that have become more valuable and less valuable as a result of the pandemic and if so, what, in your opinion, are they?   John: You can handle crypto, Gary. I am not going to touch that one.   Gary: Why don't you start then?   John: As I as I said earlier, I think new technology which was not around prior to 2012, has allowed the single family rental business to just blossom permanently And it's, it's now gonna be a permanent part of people's portfolio passively investing in real estate And that has already pushed up prices more than it would have been going forward. Whatever price appreciation would have been otherwise, it'll probably push it up a little bit more. The only thing you have to concern to certain yourself where there is, you know, the government doesn't like that And they tend to be pro homeownership. So you gotta watch regulation. I am seeing a lot of our clients tend to avoid California because they're afraid of rent control. So and there was just a Bloomberg article that 12 Different states have had rent control proposed because of all of this. So you just got to keep your antenna up on on that side. But the rent control is being proposed seems to be more reasonable. It's at the rate of inflation or maybe 1% higher than that, that you can raise rents. It's not, you know, zero or something ridiculous.   Michael: Okay and what in your opinion has been devalued or become less valuable, if anything?   John: Um, I can't think of anything that's become a …Cash!   Gary: It's it makes sense, right? I mean, you're you're losing. I mean, John, John mentioned, if you're literally if you have money sitting in your checking account, right now it's point 001% and we've got 678 percent inflation, that's how much you're losing by sitting in cash and so that does create a risk incentive to put it somewhere. And you know, I would say, Michael, I mentioned this earlier, but I think housing and industrial, which is driven a lot by distribution for E commerce, a lot of those have been really darlings of, of, for investors, they've become very much in favor and I do think you're still seeing some challenges with in some questions about office space demand and you know, not that there aren't always office investors, and there are always going to be people in offices, but there's probably structurally some percentage of less space that companies are going to utilize and so that puts maybe some uncertainty into the minds of investors, if there's another I think, I think a lens people investors are looking at today is okay, there's going to be another pandemic someday, what are the likely implications of this and, you know, office, retail, traditional retail was hurt by the pandemic, but it was also being crushed just by Amazon, right, and so you, so that's, I think, got its own challenges. And then hospitalities is very cyclical anyway, if people stopped traveling, you know, they didn't travel for a while.   So those those I think are, you know, maybe a little slightly more challenged than housing, which is, which has proven to be much more resilient than, than I think most people thought and, as a consequence, you have a lot of a lot of investors, not just, you know, traditional or not just individual investors or institutions from here. But yet people from all over the world saying, well, US housing looks pretty interesting, relative to other places that they could invest.   Michael: Yeah.   John: There's something we take for granted here called Title laws that don't exist in other countries. I mean, people in other countries don't want to buy real estate there, because the government could take it away from them. You know, and I hear that from foreign investors. That's one of the things that they love about investing in America.   Michael: Pretty scary notion if you had to be overseas   John: …Or get I should have mentioned everything that Gary said to I mean, there's a lot of huge funds, pension funds, who like to put a percentage of their assets a 10% in real estate all the time, and it would traditionally go into retail and office and hotel. Do you think they're ever going to go back to the same percentage of retail hotel and office? Probably not, it's going to be far more in this business. Because retail is now industrial. I mean, it's a warehouse and in line, you know, the best retail centers are all going to be fine in the best locations, but they're in line space is dead. So, so you're right, that's gonna push more money into our business.   Michael: Okay, well, guys, this was super informative. I know I had a lot of fun. Hopefully our listeners did, too. If people want to learn a little bit more about each of you, where's the best place for them to do that?   John: Oh, we've got a website https://www.realestateconsulting.com/ I post pretty regularly on LinkedIn. So you can look up John Burns on LinkedIn and get some free stuff every day.   Gary: I love the free hoodie that you got right there, Michael. John, I know you've got a Roofstock hoodie as well. I don't know if you ever wear it.   John: I do, I should have bought it today, I'm sorry about that I should.       Gary: So yeah, I think I would just encourage people, if they want to learn more about what we're doing at Roofstock just come to https://www.roofstock.com/ you could also follow me or hit me up on LinkedIn, I post pretty regularly there as well. But yeah, and keep checking out the podcast I know Michael's been doing a great job along with Pierre and the rest of the team here trying to get they couldn't get any interesting guests this this time so they got John and me but I know they've been otherwise doing getting some pretty interesting folks and doing a great job.   John: Well I saw that you're then the one of the top 1% of podcasters in the world. Hopefully we didn't push it down to 2%.   Michael: A filler episode though this this was great you guys. Thank you so much for taking the time and I very much looking forward to chatting again as we continue along this crazy trajectory that we're on.   Alright, everyone that was our episode, a big thank you to John and Gary for taking the time out of their extremely busy schedules to hang out with me and chat about what's been going on in the real estate market and where we might be headed going forward. As always, if you liked the episode, feel free to leave us a rating or review wherever it is you get your podcast, and we look forward to seeing on the next one. Happy investing…

Steve Goodman is passionate about providing insightful solutions to the challenges of business succession, wealth preservation, and charitable planning, focusing on the needs of owners of closely-held businesses and high net worth individuals. For more than 30 years, Steve has provided insightful solutions to the challenges of business succession, wealth preservation, and charitable planning, focusing on the needs of owners of closely-held businesses and high net worth individuals. Steve currently serves hundreds of clients, has authored numerous trade articles for leading trade journals, and has paired with some of the most respected names in banking and finance-among them, JP Morgan Chase – to sponsor some 150 seminars about business succession and wealth preservation. His accomplishments have brought the attention of such publications as the New York Times. Steve is a CPA who was vice president of the Trust and Investment Division of JP Morgan Chase and a supervisor for KPMG Peat Marwick. He holds an MBA from Fordham University. Steve is also an accomplished speaker and has presented to major CPA Firms, Law Firms, Financial Planning & Trade Associations on topics such as efficient business succession, estate planning issues, and tax strategies. He lives in Brookville, LI with his wife, Helane, and has two grown children. He frequently contributes to charities that provide education for underprivileged children. and has personally seen to the higher education of less fortunate youths. In his spare time, he’s a reader. Learn more about Steve Goodman, and SHG Planning at https://shgplanning.com/See omnystudio.com/listener for privacy information.

What happens if you don't wake up tomorrow? Do you have a plan for your business and what happens to your staff, your assets, and other business interests? Our guest today, Steve Goodman, gives us incite and practical advice on how to be prepared for that worst-case scenario.**Get a FREE copy of Steve's Book, "Business Succession Planing" = https://stevengoodman.biz/**Learn more about Steve's company = https://www.shgplanning.com/ **Learn more about franchising your business and Big Sky Franchise Team: https://bigskyfranchiseteam.com/    ABOUT OUR GUEST:For more than 30 years, Steven Goodman, President and CEO of SHG Planning, has provided insightful solutions to the challenges of business succession, wealth preservation, retirement, and charitable planning. He currently services hundreds of clients focusing on the needs of owners of closely-held businesses and high net worth individuals. Steven Goodman is the author of Business Succession Planning: A Guide to Transfers, Sales, Family Harmony, and Minimizing Litigation, and has also written numerous articles for leading trade journals. He has paired with some of the most respected names in banking and finance to sponsor some 150 seminars about business succession and wealth preservation. His accomplishments have brought the attention of such publications as the New York Times. Steven Goodman is a CPA who was vice president of the Trust and Investment Division of JP Morgan Chase and a supervisor for KPMG Peat Marwick. He holds an MBA from Fordham University. In addition to his work with SHG Planning, Steve has been a Big Brother for the last 15 years and is passionate about supporting charities that fund the education of underprivileged children.ABOUT BIG SKY FRANCHISE TEAM:This episode is powered by Big Sky Franchise Team. If you are ready to talk about franchising your business you can schedule your free, no-obligation, franchise consultation online at: https://bigskyfranchiseteam.com/ or by calling Big Sky Franchise Team at: 855-824-4759.   

While Dr. Nicole Boyson didn't come from a family of academics, she found an interest in studying investments and corporate finance, which led her to become a professor of finance at  Northeastern University. On this episode, hear Dr. Boyson discuss “hedge fund activism” - a relevant academic interest on which she has extensive knowledge - and what it means to teach students about an industry undergoing several paradigm shifts at once, from cryptocurrency to retail trading. Professor Boyson's research and teaching interests fall in the area of investments and corporate finance, with a focus on regulatory arbitrage, hedge fund management, and hedge fund activism. Prior to joining the D'Amore-McKim faculty in 2004, Professor Boyson was an Assistant Professor at Purdue University. Prior to joining Purdue, Professor Boyson was a manager for Ernst & Young, the VP of Investments for Pension Consulting Services, an analyst for Third Federal Savings and Loan, and a senior accounting at KPMG Peat Marwick. A Certified Public Accountant, Professor Boyson has served on: the Editorial Board of the Financial Analysts Journal, the board of the Midwest Finance Association, and has been a member of numerous program committees of professional organizations. She acts as an ad-hoc referee for journals including The Journal of Finance, Review of Financial Studies, Journal of Financial Economics, and The Journal of Financial and Quantitative Analysis.

President and CEO of South Carolina Federal Credit Union, Scott Woods, comes back on the show for a follow up appearance on #beyondthebusiness. Prior to accepting this role, he served as Chief Financial Officer of SCFCU, Chief Financial Officer of SRP Federal Credit Union, Chief Financial Officer of S.C. Telco Federal Credit Union and as a Senior Financial Institution Auditor with KPMG Peat Marwick, CPAs. Woods received his Bachelor of Science degree from the College of Charleston and hisMBA in Finance from Auburn University. Woods is also a graduate of the Southeast Regional Credit Union Management School, the Credit Union National Association Financial Management School and holds both Certified Public Accountant and Certified Internal Auditor certificates. Woods currently serves on the Board of Vizo Financial Corporate Credit Union as well as on the boards of the Credit Union National Association, the Charleston Metro Chamber of Commerce, PaymentsFirst, Inc. and South Carolina Financial Solutions. In this episode, we dive deep into the career transitions and experiences of Scott. Humility and leadership are highly correlated and Scott embodies this philosophy through his work and methods of communication.

John founded the John Burns Real Estate Consulting to help business executives make informed housing industry investment decisions. The company's research subscribers receive the most accurate analysis possible to inform their macro investment decisions, and the company's consulting clients receive specific property and portfolio investment advice designed to maximize profits. The team takes great pride in enabling the profitable development of the best places to live in the world.John co-authored Big Shifts Ahead: Demographic Clarity for Businesses, a book written to help make demographic trends easier to understand, quantify, and anticipate. Before founding John Burns Real Estate Consulting in 2001, John worked at a national consulting firm for 4 years and for 10 years at KPMG Peat Marwick—2 as a CPA and 8 in their Real Estate Consulting practice.John has a B.A. in Economics from Stanford University and an MBA from UCLA, and works in our Irvine, California office.  He has attended home games for all 30 major league baseball teams, and regularly runs the hills in Southern California.The Norris Group originates and services loans in California and Florida under California DRE License 01219911, Florida Mortgage Lender License 1577, and NMLS License 1623669.  For more information on hard money lending, go www.thenorrisgroup.com and click the Hard Money tab.Video LinkRadio Show

John founded the John Burns Real Estate Consulting to help business executives make informed housing industry investment decisions. The company's research subscribers receive the most accurate analysis possible to inform their macro investment decisions, and the company's consulting clients receive specific property and portfolio investment advice designed to maximize profits. The team takes great pride in enabling the profitable development of the best places to live in the world.John co-authored Big Shifts Ahead: Demographic Clarity for Businesses, a book written to help make demographic trends easier to understand, quantify, and anticipate. Before founding John Burns Real Estate Consulting in 2001, John worked at a national consulting firm for 4 years and for 10 years at KPMG Peat Marwick—2 as a CPA and 8 in their Real Estate Consulting practice.John has a B.A. in Economics from Stanford University and an MBA from UCLA, and works in our Irvine, California office.  He has attended home games for all 30 major league baseball teams, and regularly runs the hills in Southern California.The Norris Group originates and services loans in California and Florida under California DRE License 01219911, Florida Mortgage Lender License 1577, and NMLS License 1623669.  For more information on hard money lending, go www.thenorrisgroup.com and click the Hard Money tab.Video LinkRadio Show

Show notes:For more than 30 years, Steven Goodman, President and CEO of SHG Planning, has provided insightful solutions to the challenges of business succession, wealth preservation, retirement, and charitable planning. He currently services hundreds of clients focusing on the needs of owners of closely-held businesses and high net worth individuals. Steven is also the author of Business Succession Planning: A Guide to Transfers, Sales, Family Harmony, and Minimizing Litigation. Steven Goodman is a CPA who was the vice president of the Trust and Investment Division of JP Morgan Chase and a supervisor for KPMG Peat Marwick. He holds an MBA from Fordham University. In addition to his work with SHG Planning, Steve has been a Big Brother for the last 15 years and is passionate about supporting charities that fund the education of underprivileged children.On this episode you'll learn:-Steven's background and what he does-What led Steven to start his own firm-Some obstacles a family business will run into-Components of good planning-Wills and trusts and how they play a role-Life insurance products that Steven's recommend-Key concepts from Steven's book that he'd like to shareContact Info:Website: https://shgplanning.comLinkedin: https://linked.com/in/stevegoodmanshg

In today’s episode, we’re talking to Simone Craig, Wealth Expert on a mission to close the wealth gap one woman at a time. Known as the “Angel CFO”, Simone advises women business owners in making wise financial decisions for maximized business profitability, increased personal wealth and joyful living.    She has 25+ years experience in the financial industry, including the Big 4 company, KPMG Peat Marwick, as well as the private sector.   Simone is a Law of Attraction and manifestation expert. She loves advising her clients how to have the mindset and money management skills to create a thriving business and live a wealthy joyful life. Simone and I met at a networking event in Morristown, NJ through the group Ellevate. She was sitting at a high top table on the far wall, dressed to the 9’s and my favorite thing that I noticed about her was that you could tell immediately that she was an observer of people. We had a good chat that night and then connected on all the social medias - as one does.If you’ve been listening to FRIED for awhile you know that I have some bones to pick with the Law of Attraction and Manifestation, so when I first saw some of Simone’s posts, I was like - oh no, another one. But then, as time passed, she surprised me more and more. Her money advice is practical, grounded, AND spiritual - which is my most favorite of all the combos.  Why is money important when it comes to burnout? It’s really common when you’re on the burnout cycle to also be on a feast or famine cycle and not do a great job of managing your money. Burnout types often have all or nothing attitudes, so we’ll save for ages and then use it all on a big purchase and have to start from scratch. We spend our money like we spend our energy - without attention and without proper boundaries. It’s either built up and stagnant or empty and needing replenishment. In this episode, we talk about the journey of the middle road, consciously choosing balance, awareness, upleveling instead of a life that sits in the extremes. Simone talks about having a moment where she started to reflect more on the future after turning 30 and asking: “How do I make things happen for myself instead of leaving everything on default?”At that point, she found Abraham Hicks, The Secret, The Law of Attraction and she decided to ask if it was all BS or if deliberate creation actually worked. She took responsibility for herself and her finances and gave herself a goal of getting out of her parents house in 12 months. It worked.We chatted about using these techniques when you’re burnt out and why it doesn’t always work and what needs to happen before you can take advantage of these tools.You’ll get all that information and more in this week’s episode of FRIED.Can’t wait to hear what hit you the most and what you’ll take with you moving forward!XOXOCait   Connect with Cait Book a Call: https://www.caitdonovan.as.me/freecall Website: www.caitdonovan.com Instagram: www.instagram.com/friedtheburnoutpodcast Order My Book: https://bit.ly/bouncebackorder Connect with Simone Website: http://www.simonecraig.com Instagram: http://www.instagram.com/simonelebeauxcraig LinkedIN: http://www.linkedin.com/in/simonecraig P.S. There's a KILLER live course happening SOON - because, folks, it's boundary season. If you feel like you need some support finding and creating solid boundaries to protect you and your energy, this class is for you! We start Nov 13th, join us!

We all die. The goal isn’t to live forever, the goal is to create something that will. –Chuck Palahniuk Full show notes can be found: www.successfulgenerations.com/epsiode086 QUESTIONS: What do you need to be successful in transferring the business? Why is a business succession plan important?  What are the components of a good plan?  Why is a valuation important for a family business?  Selling to a third party-- why is this thinking advisable even if you plan to sell it to your kids?  What are pros and cons of having minority shareholders?  In your book, you talk about preparing and protecting heirs-- what do you mean by that?  One of the ways to protect heirs from each other is to have a buy-sell agreement, if you agree, what does a buy-sell agreement look like? What are the considerations?  (summary on page 78) What is a Charitable Bailout and Charitable Remainder Unitrust (CRUT) “the same basic features: a transfer of a business interest, a charitable contribution, deferral of capital gains taxes, a substantial income tax deduction, and removal of the business interest from the owner’s estate.” Let's say you sell the business, what’s next?    BIO For more than 20 years, Steven Goodman has provided insightful solutions to the challenges of business succession, wealth preservation and charitable planning, focusing on the needs of owners of closely-held businesses and high net worth individuals. He currently serves over 200 clients. Steven Goodman has authored numerous trade articles for leading trade journals, and has paired with some of the most respected names in banking and finance-among them JP Morgan Chase - to sponsor some 150 seminars about business succession and wealth preservation. His accomplishments have brought the attention of such publications as the New York Times. Steven Goodman is a CPA who was vice president of the Trust and Investment Division of JP Morgan Chase and a supervisor for KPMG Peat Marwick. He holds an MBA from Fordham University.

For more than 30 years, Steven Goodman, President and CEO of SHG Planning, has provided insightful solutions to the challenges of business succession, wealth preservation, retirement, and charitable planning. He currently services hundreds of clients focusing on the needs of owners of closely-held businesses and high net worth individuals. Steven Goodman is the author of Business Succession Planning: A Guide to Transfers, Sales, Family Harmony, and Minimizing Litigation, and has also written numerous articles for leading trade journals. He has paired with some of the most respected names in banking and finance to sponsor some 150 seminars about business succession and wealth preservation. His accomplishments have brought the attention of such publications as the New York Times. Steven Goodman is a CPA who was vice president of the Trust and Investment Division of JP Morgan Chase and a supervisor for KPMG Peat Marwick. He holds an MBA from Fordham University. In addition to his work with SHG Planning, Steve has been a Big Brother for the last 15 years and is passionate about supporting charities that fund the education of underprivileged children.

John leads a consulting firm that specializes in independent, unbiased analyses of the real estate industry. The company is on retainer with a very diversified group of companies to advise them on market conditions, and also completes a variety of project and portfolio specific advisory assignments. He was a CPA for 2 years and then spent 8 years in KPMG Peat Marwick's Real Estate Consulting practice (now called Bearing Point). He was also a Principal for four years at a national consulting firm before starting our firm in 2001. John has a M.B.A. from the University of California, Los Angeles and a B.A. in economics from Stanford University.Specialties: Real estate market research, Housing Analysis, Strategic Planning, Financial Analysis and ValuationBruce and John talk about which states are winners and losers for migration.  How each state has been impacted based on their response to COVID and a very something very interesting that may come from this housing market. The Norris Group originates and services loans in California and Florida under California DRE License 01219911, Florida Mortgage Lender License 1577, and NMLS License 1623669.  For more information on hard money lending, go www.thenorrisgroup.com and click the Hard Money tab.Video LinkRadio Show

This episode was recorded at an exclusive event called PodMAX / Propelify where founders had an opportunity to share their stories and knowledge. Special guest host Matthew Passy of Podcast Me Anything leads the conversation down a path of insights, solutions, and collaboration. Join the us for our next event at www.podmax.co And grab your virtual seat for the next Propelify Innovation Festival on October 5-9 at www.propelify.com Christopher W. Frey Founder & President Crowd Funding NJ, Inc. Founder and President of Crowd Funding NJ, Inc. Christopher Frey has significant experience in the entrepreneurial, start-up and growth company business community. Crowd Funding NJ, Inc. (CFNJ) is New Jersey’s first authorized and registered Equity Crowdfunding Portal. CFNJ’s Portal was launched in March 2018. Now New Jersey businesses can raise up to $1 Million in funding and any New Jersey resident can invest in these offerings using the CFNJ Equity Crowdfunding Portal. This is a significant, and much needed, new source of funding for New Jersey’s entrepreneurial, start-up and growth company business community. This is also the first time that the general public has had the opportunity to invest in start-up and early growth stage high potential companies. Prior to starting CFNJ, Frey Founded and is Managing Director of CFO Solutions. Inc. a financial and business advisory firm providing growth-stage companies with outsourced CFO leadership. Specializing in high growth and turn-around situations Frey has been retained by technology start-ups and family-owned businesses, serving as CFO for more than 25 companies. Frey has raised more than $200 million in capital through his ability to create financing alternatives and collaborate with equity investors and lending institutions, which has earned him a reputation as an innovative and pro-active leader. Prior to launching CFO Solutions, Inc., Frey served as the Chief Financial Officer for KPMG Peat Marwick's manufacturing retailing & distribution (MR&D) line of business where his efforts were instrumental in spearheading the turnaround of this $900 million Audit, Tax, and Advisory business. Earlier, as Controller, Frey led the worldwide accounting and control operations of Grace Cocoa, the world's largest processor of cocoa beans and a $750 million division of W.R. Grace & Co., during its formation and significant growth through M&A activity. Frey has an MBA from Columbia University and a BS in Accounting from Lehigh University. He is also a Certified Public Accountant and a Chartered Global Management Accountant. Frey has been the treasurer and a board member of the New Jersey Business Incubation Network (NJBIN), an editorial advisory board member of the New Jersey Society of Certified Public Accountants (NJCPA), and the SEC small business capital forum representative for the American Institute of Certified Public Accountants (AICPA). As a way of giving back to this community, Frey has been an Entrepreneur-in-Residence at NJIT’s EDC Business Incubator for more than 15 years where he has advised literally hundreds of start-up and entrepreneurial companies. --- Support this podcast: https://anchor.fm/erikecabral/support

John leads a consulting firm that specializes in independent, unbiased analyses of the real estate industry. The company is on retainer with a very diversified group of companies to advise them on market conditions, and also completes a variety of project and portfolio specific advisory assignments. He was a CPA for 2 years and then spent 8 years in KPMG Peat Marwick's Real Estate Consulting practice (now called Bearing Point). He was also a Principal for four years at a national consulting firm before starting our firm in 2001. John has a M.B.A. from the University of California, Los Angeles and a B.A. in economics from Stanford University.Specialties: Real estate market research, Housing Analysis, Strategic Planning, Financial Analysis and Valuation Bruce and John talk about the government's response to the CoronaVirus and what the consequences of the stimulus package could be.The Norris Group originates and services loans in California and Florida under California DRE License 01219911, Florida Mortgage Lender License 1577, and NMLS License 1623669.  For more information on hard money lending, go www.thenorrisgroup.com and click the Hard Money tab.Video LinkRadio Show

Steven Goodman is passionate about providing insightful solutions to the challenges of business succession, wealth preservation and charitable planning, focusing on the needs of owners of closely held businesses and high net worth individuals. As a CPA and former VP of the Trust and Investment Division of JP Morgan Chase, he’s served hundreds of estate planning clients for over 30 years. He also holds an MBA from Fordham University and was a supervisor for KPMG Peat Marwick. Steve is also an accomplished speaker and has presented to major CPA Firms, Law Firms, Financial Planning & Trade Associations on topics such as efficient business succession, estate planning issues and tax strategies. He lives in Brookville, LI with his wife, Helane, and has two grown children. He frequently contributes to charities that provide education for underprivileged children. and has personally seen to the higher education of less fortunate youths. In his spare time he’s a reader.

I got to interview Catherine Jirak. We spoke about: Her journey before QueBIT Founding QueBIT QueBIT's how and why growth happened. 3 defining events that got QueBIT from a 2 person to a 100 person company. The things the company had to overcome over the years. What motivates her to succeed. Weaknesses she turned into strenghts Advice she has for the audience. And much more. Catherine is the Chief Operating Officer for the regional consulting offices, responsible for all of the company’s operations, including sales, service, and support. Catherine is co-partner of QueBIT Consulting and has been in the Enterprise Planning sector since 1996. She also plays a key role in the development of all partner relationships, ensuring flexibility in response to an increasingly demanding marketplace. Her career includes 10 years of enterprise planning consulting and 7 years of corporate experience, including Manager of Financial Planning and Analysis at CPC International and Manager at KPMG Peat Marwick. Catherine has 20 years of business and technical experience focused on financial systems, and she was the principal of her own accounting service and software firm prior to QueBIT. Catherine holds a BS in Accounting from the University of Scranton and is a member of the AICPA. She is also an avid golfer, skier, and a member of PSIA (Professional Ski Instructors of America). This episode is sponsored by Nova Zora Digital experts in digital marketing. *Disclaimer: The views and opinions on Roman Prokopchuk's Digital Savage Experience are those of the guest's alone as their own, and the host's alone as his own. Information provided by the guest is fact checked to the best of our abilities. By providing background information to the show, the guest acknowledges that it is as accurate as possible* --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app

This week on the Gov Gab series, Brian speaks with Mayor Jim Lane of the City of Scottsdale, AZ about making changes, leadership and more.Mayor W. J. “Jim” Lane served for four years on the Scottsdale City Council beginning in June 2004, and began his first term as Mayor in January 2009. He was re-elected to the Mayor’s Office in 2012 and began his third term in January 2017.Mayor Lane served on the 2002 Scottsdale Fire & EMS Advisory Committee, which was convened to evaluate and make recommendations to the city regarding the desired level of fire and emergency medical services relative to cost.His community service also includes six years on the Scottsdale Paradise Valley YMCA Board of Management. He chaired the 1999 Kids Campaign annual fundraising effort and is currently an emeritus board member.Mayor Lane currently represents the city as a member of the Flinn Foundation Arizona Bioscience Roadmap Steering Committee. He is the current President of the Arizona Municipal Water Users Association, a member of the Governor’s Arizona Workforce Committee, member of the Executive Committee of the League of Arizona Cities and Towns, and a Chairman of the Maricopa Association of Governments Economic Development Committee. He is a former Chairman of the MAG Regional Council and former President of the MAG Executive Board. Mayor Lane also serves on the Scottsdale Leadership Advisory Board, Arizona Game and Fish Appointment Recommendation Board, he is a member of the Phoenix Committee on Foreign Relations and an Honorary Member of the Taliesin West Board of Stewards. Mayor Lane is also a member of the Municipal Tax Code commission.He came to Scottsdale from New Jersey in 1973 to take a position with KPMG (Peat Marwick), an international CPA firm. He worked as an Arizona CPA for 20 years with five of those years in public accounting as a financial statement auditor.Mayor Lane has owned and operated businesses in construction, mining, computer technology, telecommunications, regional aviation and financial consulting. Mayor Lane is also a former Adjunct professor of Business and Accounting at Scottsdale Community College.He holds a Bachelor of Science degree in Accounting from Saint Joseph's University in Philadelphia. He and his wife Joanne have three adult children (Bill, Scott and Nancy) along with seven grandchildren (Megan, Aislinn, Madison, Carson, Caleb, Brooklynn and Cole). See acast.com/privacy for privacy and opt-out information.

Andrew began his professional career as a chartered accountant with KPMG Peat Marwick in the late 80s and witnessed the impact and the excesses of poor corporate leadership firsthand, working on the administration/winding up of a number of high profile Australian companies, including LJ Hooker, Alan Bond's companies and Spedleys. He also experienced the demoralising impact of a large process driven and depersonalised bureaucracy.He then became a criminal lawyer before joining a large national law firm making partner at age 35.Following the birth of his 4th child during a meditation Andrew had a knowing that would change his life and career trajectory forever. He knew he had to quit law and so hung up his suit and silk tie to train as a coach and clinical practitioner of NLP.Today Andrew incorporates cutting edge accelerated change techniques using the latest discoveries in neuroscience and human behaviour along with a grounded certainty in sitting with your stuff, meditating and trusting the knowing.During this podcast Andrew selects cards #1, 12, 23, 42 and 50 from the Cards for Uniqueness. Tune in to listening to this interesting interview.Find out more about Andrew at http://www.AndrewHughes.com

Ep 4: During this podcast episode, Simone Craig shares the goods on starting to use mindset practices in your business, how to work that money story, and how she used one particular social media platform to skyrocket her business.Links:Free gift: 5 Day Coin UP Challenge: Manifest $1,000 in your business in just 5 dayssimonecraig.com/freegift About Simone:Simone Craig holds a Bachelors of Science degree in Accounting, from Hampton University, in Hampton, VA. She has 22 years experience in the financial industry, including the Big 4 public sector with KPMG Peat Marwick, as well as, the private sector.Simone's a passionate student of the Law of Attraction, for going on 15 years. She combined her accounting skill, and unique insights into the Law of Attraction, to create a thriving 6-figure bookkeeping business. She loves teaching her students, from all around the world, how to have the mindset and money management skills, to enjoy optimal business success.About the host:Tanya Watkins is a Brand and Marketing Strategist, Speaker, and Author for passionate Massive Brand Bosses looking to find their voice on social media, package their greatness and monetize their hustle.With over 18 years of experience in corporate sales and marketing, she has built a highly successful business activating self-esteem in women to become boldly confident, creating Brands with luxe high-end services, and compelling visual elements. The result is the creation of thought-leading voices to disrupt the marketplace while creating a massive impact on their communities. Tanya specifically specializes in personal branding, core messaging, client attraction, as well as monetization strategies that include sales funnel implementation and automation.Join the FB community to share episode feedback and join the conversation: www.massivebrandincubator.comTanya's free gift to you:5 Keys to Booking Your Next Client - without waiting or needing a huge audience:www.tanyawatkins.com/freetrainingFollow across all social media @tanyabwatkinshttps://www.instagram.com/tanyabwatkins/https://www.facebook.com/tanyabwatkins/https://www.pinterest.com/tanyabwatkins/To help Tanya promote this show and reach more people, just snap a screenshot of your device while listening to the episode and share it on Instagram stories - tag Tanya, @TanyaBWatkins and use our hashtag, #massivebranding.Support this show http://supporter.acast.com/massive-brand-podcast. See acast.com/privacy for privacy and opt-out information. Become a member at https://plus.acast.com/s/massive-brand-podcast.

Ep 4: During this podcast episode, Simone Craig shares the goods on starting to use mindset practices in your business, how to work that money story, and how she used one particular social media platform to skyrocket her business.Links:Free gift: 5 Day Coin UP Challenge: Manifest $1,000 in your business in just 5 dayssimonecraig.com/freegift About Simone:Simone Craig holds a Bachelors of Science degree in Accounting, from Hampton University, in Hampton, VA. She has 22 years experience in the financial industry, including the Big 4 public sector with KPMG Peat Marwick, as well as, the private sector.Simone’s a passionate student of the Law of Attraction, for going on 15 years. She combined her accounting skill, and unique insights into the Law of Attraction, to create a thriving 6-figure bookkeeping business. She loves teaching her students, from all around the world, how to have the mindset and money management skills, to enjoy optimal business success.About the host:Tanya Watkins is a Brand and Marketing Strategist, Speaker, and Author for passionate Massive Brand Bosses looking to find their voice on social media, package their greatness and monetize their hustle.With over 18 years of experience in corporate sales and marketing, she has built a highly successful business activating self-esteem in women to become boldly confident, creating Brands with luxe high-end services, and compelling visual elements. The result is the creation of thought-leading voices to disrupt the marketplace while creating a massive impact on their communities. Tanya specifically specializes in personal branding, core messaging, client attraction, as well as monetization strategies that include sales funnel implementation and automation.Join the FB community to share episode feedback and join the conversation: www.massivebrandincubator.comTanya's free gift to you:5 Keys to Booking Your Next Client - without waiting or needing a huge audience:www.tanyawatkins.com/freetrainingFollow across all social media @tanyabwatkinshttps://www.instagram.com/tanyabwatkins/https://www.facebook.com/tanyabwatkins/https://www.pinterest.com/tanyabwatkins/To help Tanya promote this show and reach more people, just snap a screenshot of your device while listening to the episode and share it on Instagram stories - tag Tanya, @TanyaBWatkins and use our hashtag, #massivebranding. See acast.com/privacy for privacy and opt-out information.

Throughout the world, companies are finding that data breaches have become as common as a cold but far more expensive to treat. With the exception of Germany, companies had to spend more on their investigations, notification and response when their sensitive and confidential information was lost or stolen. As revealed in the 2014 Cost of Data Breach Study: Global Analysis, sponsored by IBM, the average cost to a company was $3.5 million in US dollars and 15 percent more than what it cost last year. Will these costs continue to escalate? Are there preventive measures and controls that will make a company more resilient and effective in reducing the costs? Nine years of research about data breaches has made us smarter about solutions. Critical to controlling costs is keeping customers from leaving. The research reveals that reputation and the loss of customer loyalty does the most damage to the bottom line. In the aftermath of a breach, companies find they must spend heavily to regain their brand image and acquire new customers. Our report also shows that certain industries, such as pharmaceutical companies, financial services and healthcare, experience a high customer turnover. In the aftermath of a data breach, these companies need to be especially focused on the concerns of their customers. As a preventive measure, companies should consider having an incident response and crisis management plan in place. Efficient response to the breach and containment of the damage has been shown to reduce the cost of breach significantly. Other measures include having a CISO in charge and involving the company's business continuity management team in dealing with the breach.In most countries, the primary root cause of the data breach is a malicious insider or criminal attack. It is also the most costly. In this year's study, we asked companies represented in this research what worries them most about security incidents, what investments they are making in security and the existence of a security strategy. An interesting finding is the important role cyber insurance can play in not only managing the risk of a data breach but in improving the security posture of the company. While it has been suggested that having insurance encourages companies to slack off on security, our research suggests the opposite. Those companies with good security practices are more likely to purchase insurance. Global companies also are worried about malicious code and sustained probes, which have increased more than other threats. Companies estimate that they will be dealing with an average of 17 malicious codes each month and 12 sustained probes each month. Unauthorized access incidents have mainly stayed the same and companies estimate they will be dealing with an average of 10 such incidents each month. When asked about the level of investment in their organizations' security strategy and mission, on average respondents would like to see it doubled from what they think will be spent—an average of $7 million to what they would like to spend—an average of $14 million. This may be a tough sell in many companies. However, our cost of data breach research can help IT security executives make the case that a strong security posture can result in a financially stronger company. About the speaker: Dr. Larry Ponemon is the Chairman and Founder of the Ponemon Institute, a research "think tank" dedicated to advancing privacy, data protection and information security practices. Dr. Ponemon is considered a pioneer in privacy auditing and the Responsible Information Management or RIM framework. Security Magazine has named Dr. Ponemon as one of the "Most Influential People for Security."Dr. Ponemon was appointed to the Advisory Committee for Online Access & Security for the United States Federal Trade Commission. He was appointed by the White House to the Data Privacy and Integrity Advisory Committee for the Department of Homeland Security. Dr. Ponemon was also an appointed to two California State task forces on privacy and data security laws. He serves as chairman of the Government Policy Advisory Committee and co-chair of the Internet Task Force for the Council of American Survey and Research Organizations (CASRO).Dr. Ponemon was a senior partner of PricewaterhouseCoopers, where he founded the firm's global compliance risk management group. Prior to joining Price Waterhouse as a partner, Dr. Ponemon served as the National Director of Business Ethics Services for KPMG Peat Marwick, and was appointed Executive Director of the KPMG Business Ethics Institute.Dr. Ponemon has held chaired (tenured) faculty positions and published numerous articles and learned books. He has presented hundreds of keynote speeches or learned presentations at national or international conferences on privacy, data protection, information security, corporate governance, and responsible information management. Dr. Ponemon is an active member of the International Association of Privacy Professionals, serving as founding member of the Certified Information Privacy Professional (CIPP) Advisory Board. Dr. Ponemon earned his Ph.D. at Union College in Schenectady, New York. He has a Master's degree from Harvard University, Cambridge, Massachusetts, and attended the doctoral program in system sciences at Carnegie Mellon University, Pittsburgh, Pennsylvania. Dr. Ponemon earned his Bachelors with Highest Distinction from the University of Arizona, Tucson, Arizona. He is a Certified Public Accountant and a Certified Information Privacy Professional.

Join Elizabeth Hamilton with guest Diane Katz for a special one hour show. Diane L. Katz, Ph.D., the President of The Working Circle, has worked with organizations of all kinds and sizes across the U.S. She brings insight, humor, intelligence and a passion for helping organizations and their employees function exquisitely well together. In business in Tucson, Arizona, since 1995, she has consulting clients nationwide and speaks at conferences across the country. With a Ph.D. in Conflict Resolution from Union Institute and a Masters in Organizational Psychology from Columbia University and years of work in transforming organizations, she brings an understanding of people and what makes them work best together. Her unique process, The Working Circle®, is an 8-step non-confrontational method of resolving conflict. It combines eastern and western methods and theories. People who use it are amazed at how much easier resolving conflict can be. "Win at Work! The Everybody Wins Approach to Conflict Resolution", authored by Diane, is an extraordinary book on how to be a winner at work by resolving issues collaboratively, using The Working Circle. The book addresses 8 career crossroads that all professionals face. . Visit Diane's blog at www.tucsoncitizen.com/wise-workDiane was formerly a Human Resources executive for a number of companies, including American Express, Chase Bank, KPMG Peat Marwick and Alexander & Alexander.

Dr. Larry Ponemon is the Chairman and Founder of the Ponemon Institute, a research ?think tank? dedicated to advancing privacy and data protection practices. Dr. Ponemon is considered a pioneer in privacy auditing and the Responsible Information Management or RIM framework. Ponemon Institute conducts independent research, educates leaders from the private and public sectors and verifies the privacy and data protection practices of organizations in a various industries. In addition to Institute activities, Dr. Ponemon is an adjunct professor for ethics and privacy at Carnegie Mellon University?s CIO Institute. He is a founding board member of the Unisys Corporation?s Security Leadership Institute. Dr. Ponemon consults with leading multinational organizations on global privacy management programs. He has extensive knowledge of regulatory frameworks for managing privacy and data security including financial services, health care, pharmaceutical, telecom and Internet. Dr. Ponemon was appointed to the Advisory Committee for Online Access & Security for the United States Federal Trade Commission. He was recently appointed by the White House to the Data Privacy and Integrity Advisory Committee for the Department of Homeland Security. Dr. Ponemon was also an appointed to two California State task forces on privacy and data security laws. Dr. Ponemon is a member of the National Board of Advisors of the Eller College of Business and Public Administration, University of Arizona. He serves as Chairman of the Government Policy Advisory Committee and Co-Chair of the Internet Task Force for the Council of American Survey and Research Organizations (CASRO). Dr. Ponemon was a senior partner of PricewaterhouseCoopers, where he founded the firm?s global compliance risk management group. Prior to joining Price Waterhouse as a partner, Dr. Ponemon served as the National Director of Business Ethics Services for KPMG Peat Marwick, and was appointed Executive Director of the KPMG Business Ethics Institute. Dr. Ponemon has held chaired (tenured) faculty positions and published numerous articles and learned books. He has presented more than 500 keynote speeches or learned presentations at national or international conferences on privacy, data protection, information security, corporate governance, and responsible information management. Dr. Ponemon is an active member of the International Association of Privacy Professionals, serving as founding member of the Certified Information Privacy Professional (CIPP) Advisory Board. Dr. Ponemon is column editor for Computerworld, CSO Magazine, BNA, Dark Reading and other leading publications. He is a frequent commentator on privacy and business ethics for CNN, Fox News, MSNBC, The Wall Street Journal, New York Times, Washington Post, USA Today, Financial Times, Business 2.0, Newsweek, Business Week, U.S. News & World Report, CIO Magazine, Industry Standard, Boston Globe, InfoWorld, InformationWeek, Forbes, Fortune, CFO Magazine, Red Herring, Dow Jones News and others. Dr. Ponemon earned his Ph.D. at Union College in Schenectady, New York. He has a Master?s degree from Harvard University, Cambridge, Massachusetts, and attended the doctoral program in system sciences at Carnegie Mellon University, Pittsburgh, Pennsylvania. Dr. Ponemon earned his Bachelors with Highest Distinction from the University of Arizona, Tucson, Arizona. He is a Certified Public Accountant (active license in Texas). Dr. Ponemon is a veteran (Vietnam War era) of the United States Navy. He is married and has two sons.

Dr. Larry Ponemon, is a pioneer in the development of privacy audits, privacy risk management and ethical information management. He is the chairman and founder of The Ponemon Institute. Based upon his vast experience in the fields of corporate governance, privacy compliance, data protection and business ethics, he consults with leading multinational organizations on global privacy management programs. Dr. Ponemon was appointed to the Advisory Committee for Privacy for the United States Federal Trade Commission and to two California State task forces on privacy and data security laws. Dr. Ponemon was recently appointed by the Governor of Arizona to serve as public member of State Board of Optometry. Dr. Ponemon has held chaired faculty positions at Babson College and SUNY Binghamton and he's published dozens of articles and five learned books. He is a frequent media commentator on privacy and other business ethics topics for CNN, Fox News, CBS, CNBC, MSNBC, The Wall Street Journal, New York Times, Washington Post, USA Today, Financial Times, Business 2.0, Newsweek, Business Week, U.S. News & World Report, Computerworld, CIO Magazine, Industry Standard, Boston Globe, InfoWorld, InformationWeek, Forbes, Fortune, CFO Magazine, Red Herring, Dow Jones News and others. His research studies are well respected and have a profound impact on the manner in which corporations are changing their approach to important privacy issues.You can learn more at www.ponemon.org Susan Jayson Susan Jayson is executive director and co-founder of Ponemon Institute, LLC. In this role, Susan is responsible for managing the Institute's operations, including research on privacy and information management issues. Susan's background includes marketing, investor relations and corporate communications for such leading organizations as KPMG Peat Marwick, Arthur Andersen and the Financial Relations Board.

Dr. Lawrence A. Ponemon is the Chairman and Founder of the Ponemon Institute, a research think tank dedicated to advancing privacy and data protection practices. Dr. Ponemon is considered a pioneer in privacy risk management and the development of the Responsible Information Management or RIM framework. Ponemon Institute conducts independent research, educates leaders from the private and public sectors and verifies the privacy and data protection practices of organizations in a various industries. In addition to Institute activities, Dr. Ponemon is an adjunct professor for information ethics and privacy at Carnegie Mellon University's CIO Institute and is faculty of CyLab. He serves on the Unisys Corporation?s Security Leadership Institute Board and the IBM Privacy Management Council. Dr. Ponemon is a member of the National Board of Advisors of the Eller College of Business and Public Administration, University of Arizona. He serves on the Government Policy Advisory Committee and Co-Chair of the Internet Task Force for the Council of American Survey and Research Organizations (CASRO). Dr. Ponemon earned his Ph.D. at Union College in Schenectady, New York. He has a Master?s degree from Harvard University, Cambridge, Massachusetts, and attended the doctoral program in system sciences at Carnegie Mellon University, Pittsburgh, Pennsylvania. Dr. Ponemon earned his Bachelors with Highest Distinction from the University of Arizona, Tucson, Arizona. Please visit Dr. Ponemon's web site: www.ponemon.org Susan Jayson Susan Jayson is executive director and co-founder of Ponemon Institute, LLC. In this role, Susan is responsible for managing the Institute's operations, including research on privacy and information management issues. Susan's background includes marketing, investor relations and corporate communications for such leading organizations as KPMG Peat Marwick, Arthur Andersen and the Financial Relations Board.

David Bender has extensive experience in contracting, litigation and counseling. He co-chairs the Privacy Practice Group and has been active in counseling on matters regarding privacy and data protection. He and negotiates and drafts all types of agreements relating to Internet, computer software and hardware matters. He also litigates computer related disputes and directs privacy audits and intellectual property due diligence investigations. Susan Jayson is executive director and co-founder of Ponemon Institute, LLC. In this role, Susan is responsible for managing the Institute's operations, including research on privacy and information management issues. Susan's background includes marketing, investor relations and corporate communications for such leading organizations as KPMG Peat Marwick, Arthur Andersen and the Financial Relations Board. Dr. Lawrence A. Ponemon is the Chairman and Founder of the Ponemon Institute, a research think tank dedicated to advancing privacy and data protection practices. Dr. Ponemon is considered a pioneer in privacy risk management and the development of the Responsible Information Management or RIM framework.