The ESOP Podcast Capital Trustees

From March 2023: Bret Keisling shares the story of how Trader Joe's almost became an ESOP as told by company founder Joe Coulombe in his business memoir "Becoming Trader Joe," co-written by Patty Civalleri [https://pattycivalleri.com/]. Many of the factors that led to the company's success are hallmarks of successful ESOPs: great salaries, high retention, open book management, and employee communication.

Co-author Patty Civalleri recently joined Bret on Episode 247 of The EsOp Podcast for a great discussion about the book, Trader Joe's, Joe Coulombe, and much more.

If you're looking for a great business book that shares the entrepreneur's journey, from struggle to great success, and the many challenges along the way, we highly recommend "Becoming Trader Joe: How I Did Business My Way and Still Beat the Big Guys."

A link where you can purchase the book at employee-owned Raven Book Store and the full transcript of this episode are available on our website https://www.theesoppodcast.com/post/mini-cast-231-icymi-trader-joe-s-almost-an-esop

Bret Keisling is joined by Patty Civalleri [https://pattycivalleri.com/], co-author of "Becoming Trader Joe: How I Did Business My Way and Still Beat the Big Guys," a great book about Joe Coulombe and the growth of Trader Joe's, which was the first grocer in the US to sell extra-large eggs, brie, and numerous wines and spirits among his many innovations.

Patty shares his four pillars of differentiation: pricing, packaging, ingredients, and uniqueness. She describes how Coulombe believed in his employees by offering profit sharing and an early form of employee ownership. They also discuss Trader Joe's brush with becoming an ESOP in the late 1970s.

Patty then talks about her travel books on Rome, Florence, and Venice. Her guides are the ultimate resource to escape the crowds and deep dive into the land that birthed stunning art, history and legends. The guides are jam-packed with backstories, vignettes, anecdotes, and bite-sized nuggets of history. They are skillfully organized (even color-coded!) to connect the dots giving readers hundreds of exciting 'Aha' moments every day. Readers will be privy to all the best ancient and underground sites, while getting the backstories of the most interesting influencers in history that connect you directly to the sites you're visiting.

Further show notes, including links to Patty Civalleri's books and resources, are available on our website at https://www.theesoppodcast.com/post/247-patty-civalleri-co-author-of-becoming-trader-joe

Bret Keisling shares a clip from the "Owner to Owner" podcast. Host Jesse Tyler speaks with Matt Cropp, Executive Director of the Vermont Employee Ownership Center (https://veoc.org/), about the 2023 Annual VEOC Conference on June 1, 2023. VEOC23 is a great chance to learn about worker co-ops, ESOPs, EOTs, and employee ownership in general, in a beautiful setting that has a much more intimate feel than national and most regional conferences.

This year's keynote speaker is Derek Peebles, Senior Director of Policy and Advocacy, Inclusive Economy of the American Sustainable Business Network. Derek's work situates employee ownership within the context of strengthening place-based finance and promoting restorative investments in local economies.

O2O host Jesse Tyler will be co-presenting at two sessions: "Trials and Tribulations of Returning to Working In Person & Impact on Employee Ownership Culture," and "What is Working in Recruiting, Onboarding, Learning and Development as the Workforce Evolves."

Links to the conference page along with a full transcript of this episode are available on our website at http://dts.podtrac.com/redirect.wav/soundcloud.com/theesoppodcast/mini-cast-230-the-2023-veoc-annual-conference

Bret Keisling is joined by Lori Atone, Learning & Development Director at TVF [www.tvfinc.com], an Empowered Ventures company. Lori discusses practical tips for educating employee owners, including onboarding, consistency, financial literacy, committees and subcommittees, and how these efforts add to profitability, retention, and job satisfaction. Part 2.

Resource links and further show notes are on our website at https://www.theesoppodcast.com/post/246-lori-atone-of-esop-tvf-part-2

Bret Keisling discusses the Employee Equity Investment Act introduced in the US Senate by Sens. Van Hollen (D-MD) and Rubio and in the House by Reps. Phillips (D-MN) and Moore (R-UT), which directs the SBIC (of the SBA) to provide loan guarantees for investment funds that are devoted to expanding EO.

The Employee Equity Investment Act supports private sector investors who proactively pitch selling business owners on employee ownership transactions and provides financing, so the seller does not need to do so themselves. This is expected to "flip the script" from the current transition process, which usually sees the selling shareholder take the initial steps towards a transaction.

Links to the EEIA legislation, press release, fact sheet, and list of organizations who have endorsed the legislation including Ownership America and The ESOP Association are on our website, along with a full transcript of this episode: https://www.theesoppodcast.com/post/mini-cast-229-the-employee-equity-investment-act

Bret Keisling is joined by Lori Atone, Learning & Development Director at TVF [www.tvfinc.com], an Empowered Ventures company. Lori discusses ESOP education, the importance of collaboration (in-house and with other ESOPs), empowering employee owners by eliminating red tape, and the NCEO's Innovative Communication Coalition. Part 1.

Resource links and further show notes are on our website at https://www.theesoppodcast.com/post/245-lori-atone-of-esop-tvf-part-1