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Red Truck Radio: Episode #6: The Power of Ownership · Red Truck Radio

• 0:02
  SPEAKER_02: Hey everyone, and welcome back to another episode of Red Truck Radio.
• 0:05
  SPEAKER_02: I'm Adam Huxted, and today we're driving into a topic that truly sits at the heart of who we are at Lost House Supply Company, employee ownership.
• 0:13
  SPEAKER_02: For many of us, the ESOP isn't just a retirement plan, it's a mindset.
• 0:17
  SPEAKER_02: It's pride in the work we do, accountability in the decisions we make, and the long-term value we create together.
• 0:23
  SPEAKER_02: Today we're taking you behind the scenes to understand the why and how of ownership, and we've got three incredible guests to help tell that story.
• 0:30
  SPEAKER_02: Kicking this off is Melissa Olson, our Total Rewards Manager, who's going to break down the nuts and bolts of how the ESOP actually works.
• 0:37
  SPEAKER_02: After that, we'll talk with Shalom Wicks, chairman of the ESOP Communication Committee, about how the ownership shows up day to day, and then we'll wrap up with longtime employee owner Gary Penhale, who brings a powerful personal perspective on how ownership has meant throughout his career.
• 0:53
  SPEAKER_02: This one's hacked with insights, personal stories, and the kind of conversations that remind us why being an owner truly matters.
• 0:59
  SPEAKER_02: So let's jump in.
• 1:00
  SPEAKER_02: So, Melissa, how are you?
• 1:02
  SPEAKER_02: I'm doing great, Adam.
• 1:03
  SPEAKER_02: How are you today?
• 1:04
  SPEAKER_02: Doing very great.
• 1:05
  SPEAKER_02: Uh doing good.
• 1:06
  SPEAKER_02: Uh a new role at Waffle Supply.
• 1:08
  SPEAKER_02: Yes.
• 1:09
  SPEAKER_01: Total benefits manager.
• 1:11
  SPEAKER_01: Yes.
• 1:11
  SPEAKER_01: With that.
• 1:14
  SPEAKER_01: Oh, yes.
• 1:15
  SPEAKER_01: It's all about the employees, right?
• 1:16
  SPEAKER_01: Absolutely.
• 1:17
  SPEAKER_01: So tell me a little bit about this role.
• 1:19
  SPEAKER_05: Um, all of the compensation philosophy and navigation through UKG, the HRIS market, market rates, and then also all of the benefits.
• 1:30
  SPEAKER_05: So that would include all of the medical, the ESOP, of course, Warwin K, and all of those amazing things we we get to our employees to add value with Wassau Split.
• 1:40
  SPEAKER_02: Well, glad to have you aboard.
• 1:42
  SPEAKER_02: Obviously, benefits and compensation are uh hugely important to our employee owners and really to our customers as well, because uh, if we're taking care of our employees, uh, we're in a much better position to serve and take care of our customers as well.
• 1:55
  SPEAKER_05: Absolutely.
• 1:56
  SPEAKER_05: Absolutely.
• 1:57
  SPEAKER_02: So let's dive in.
• 1:58
  SPEAKER_02: Um, Wassau Supply is an Aesop company.
• 2:01
  SPEAKER_05: Yeah.
• 2:02
  SPEAKER_02: And I'm gonna share my knowledge of that employee stock ownership plan.
• 2:06
  SPEAKER_02: Yeah, very good.
• 2:07
  SPEAKER_02: Yeah.
• 2:08
  SPEAKER_02: I think that uh I would say after 15 years, I do have a little deeper knowledge.
• 2:12
  SPEAKER_02: Uh, but I'm gonna put pretend that I don't for the viewers that we have out listening to today's telecast.
• 2:18
  SPEAKER_02: So tell me what an eSOP is and actually how it works here at WhatsApp Supply.
• 2:25
  SPEAKER_02: Right.
• 2:25
  SPEAKER_05: So an ESOP, as you stated, is an employee stock ownership plan.
• 2:30
  SPEAKER_05: Um, it's an employer-funded retirement plan that gives employees um ownership opportunities to help grow and invest in in these operations.
• 2:42
  SPEAKER_02: Wow, that's great.
• 2:43
  SPEAKER_02: That's great.
• 2:44
  SPEAKER_02: You know, and I I remember coming to work for Lossop.
• 2:47
  SPEAKER_02: Um, and at the time I didn't understand what uh an eSOP was, but I I wasn't here for six months, and I could see throughout the organization the importance of being an employee owner.
• 2:58
  SPEAKER_02: I think they just come to work with it in a different way, but we're gonna talk more about that as we get along.
• 3:02
  SPEAKER_02: So um, so can you tell a little bit about I know you're new, but can you tell a little bit about how WASAW Supply came in ownership and and how that all came about?
• 3:12
  SPEAKER_05: Certainly.
• 3:13
  SPEAKER_05: So the ESOP really started um in 2001 under under Ron, of course.
• 3:19
  SPEAKER_05: Um, and then at that point he decided to transition into an ASOP.
• 3:24
  SPEAKER_05: Um, and the beauty of eSOPs is it allows those long-term legacy owners to transition their succession plans over time.
• 3:34
  SPEAKER_05: So there's much less disruption with the changeover in the succession, which is a great benefit to these long, long-standing companies.
• 3:42
  SPEAKER_05: Uh less disruption for the customers, less disruption for the owners, and less disruption for Ron, too.
• 3:48
  SPEAKER_05: That's a big transition in his role as well.
• 3:51
  SPEAKER_05: Um, so in 2015, the final shares transitioned and Lassau Supply became a hundred percent employee-owned, which is absolutely incredible.
• 4:03
  SPEAKER_05: Uh, when I was evaluating this role, that was certainly one of the standout elements within the uh benefits um suite that really stuck out.
• 4:13
  SPEAKER_05: It's not it's not a very common feature in benefit plans.
• 4:18
  SPEAKER_05: It's extremely unique.
• 4:20
  SPEAKER_05: The fact that it's a hundred percent employee-owned is just really incredible and says a lot about the dedication El Boisa supply to, you know, the continuity of their product, their customer care, and their dedication to their employees.
• 4:35
  SPEAKER_02: Yeah, it is a testament, I think, to you know, Ron um had the foresight that he did and to really want to get back to the organization.
• 4:45
  SPEAKER_02: Um, it has definitely changed uh who we are and and how our people come to work, and it and it's a huge benefit.
• 4:51
  SPEAKER_02: And you know, just from my conversations out uh within in the industry, um, I know many companies that uh started on the path of uh of becoming an ESOP, but never made it that far.
• 5:03
  SPEAKER_02: Uh a lot of times I think uh maybe offers come in to an owner, and uh uh a lot of times an eSOP just doesn't make it all the way to that 100% employee ownership.
• 5:13
  SPEAKER_05: Absolutely.
• 5:14
  SPEAKER_05: It's it's definitely a neat unique feature.
• 5:16
  SPEAKER_05: Yeah, so fantastic.
• 5:18
  SPEAKER_02: Um employee ownership is a powerful tool for retirement, but a lot of organizations have 401ks.
• 5:24
  SPEAKER_02: What what do you see as the difference between an ESOP and a traditional 401k?
• 5:29
  SPEAKER_05: Really just a diversification of those retirement benefits.
• 5:34
  SPEAKER_05: So at Wasa Supply, we offer a 401k as well.
• 5:37
  SPEAKER_05: The bulk of the wealth that we're contributing to our employee owners is through the ESOP, but we certainly offer both to make sure our team members have that healthy wealth-driving opportunity in multiple areas.
• 5:51
  SPEAKER_05: Uh so one of the big differences between an ESOP and you know the traditional 401k, um, in a traditional 401k, typically the contribution from an employer is a matched amount.
• 6:04
  SPEAKER_05: The the typical match is 4% of your annual wages.
• 6:09
  SPEAKER_05: If the employee elects a 4% match a contribution, the company will kick in an equal and commensurate 4%.
• 6:17
  SPEAKER_05: And there's uh a million ways to restructure that.
• 6:20
  SPEAKER_05: But for simplicity's sake, we'll use 4%.
• 6:23
  SPEAKER_05: In an eSOP, there is no contribution on behalf of the employee.
• 6:28
  SPEAKER_05: The company is contributing the entire bulk of that into purchasing stock for its its team members and employee owners, um, which is a pretty significant value of historically the performance of Wasaw Supply has outpaced traditional quarrel in case.
• 6:47
  SPEAKER_05: Um, you know, as a financial kind of leaning person, I it's great to have both for diversification, but the the performance is really great.
• 6:57
  SPEAKER_05: And I think a lot of that um goes back to what you were saying before is the emplo the employees themselves have the motivation to make the company successful, to keep those, you know, the pricing in line with the competition, to keep spending and budgetary controls in place.
• 7:16
  SPEAKER_05: And there's this cascading goal strategy that in many organizations is difficult to help people on the those entry-level tiers have ownership of that strategic plan that's in place.
• 7:32
  SPEAKER_05: And in ESOP, that becomes very clear because there is ownership as soon as they're vested.
• 7:38
  SPEAKER_02: That is awesome.
• 7:38
  SPEAKER_02: And that's uh that's a great understanding that you're you're sharing with uh our listeners, and a lot of our listeners are employees, but uh a lot of people out there uh from our dealer base as well.
• 7:47
  SPEAKER_02: Um, you know, I think the most important thing you're talking about at the end is really how it changes the culture with an organization.
• 7:54
  SPEAKER_02: So maybe we could talk a little bit more about that.
• 7:57
  SPEAKER_02: Um, you know, I think talking about uh how how we uh are mindful of our pricing and how we stay within budgets and how we expense, but I think to me, what I've seen uh throughout the organization is really just uh how we go about our work, the drive, the determination, the tenacity that we have, uh, and the strive for success is something that I think goes hand in hand with that financial reward.
• 8:21
  SPEAKER_02: So maybe a little bit more on how uh an ESOP can really change an organizationally, culturally.
• 8:27
  SPEAKER_05: Simply.
• 8:28
  SPEAKER_05: Um one of the big influences is it you know, we have our individual contributors at every level, but there's a much bigger tie-in throughout the organization to link those efforts across the organization and understand uh, you know, the impacts of other employee owners and how the whole the whole organization comes together as a whole.
• 8:52
  SPEAKER_05: Uh, you know, there's there's accountability, there's pride.
• 8:56
  SPEAKER_05: You see a lot of succession when I look at our employee roles.
• 9:00
  SPEAKER_05: There are a lot of the same last names and a lot of generational history, which is so neat to see.
• 9:07
  SPEAKER_02: Yeah, I I think you're right.
• 9:09
  SPEAKER_02: I I just was looking through the roles and saw how many family members join Loss of Supply.
• 9:14
  SPEAKER_02: It's amazing.
• 9:14
  SPEAKER_02: And then really I think it's also a testament to uh and is a part of an Isok culture, is really that uh promotion from within.
• 9:22
  SPEAKER_02: I think we are uh intrinsically looking to move people within the organization uh for opportunity.
• 9:28
  SPEAKER_02: So um Absolutely.
• 9:30
  SPEAKER_05: This it becomes much easier looking at succession planning when you're elevating owners within roles and looking at investing in in that talent and knowledge when they're their owners.
• 9:41
  SPEAKER_02: Yeah, for sure.
• 9:42
  SPEAKER_02: Well, I've been blessed to be part of Wals off Supply.
• 9:44
  SPEAKER_02: I had little understanding of what an Aesop was when I came to the company.
• 9:48
  SPEAKER_02: Uh I I think in your new role, would there be an opportunity through your position to continue to educate new employees?
• 9:55
  SPEAKER_02: It but it's always been difficult as somebody comes on board for them to really see that benefit.
• 10:00
  SPEAKER_02: So, as part of your new role, where there'll be some new education pieces that we bring into play?
• 10:05
  SPEAKER_05: Absolutely.
• 10:06
  SPEAKER_05: We are looking, you know, as a department, trying to elevate some of those educational materials from from I say pre-boarding, but at the recruiting stage, helping our potential, potential future employees understand what a value value it is.
• 10:20
  SPEAKER_05: Um and specifically, you know, our current employees as well.
• 10:23
  SPEAKER_05: So they understand what their options are.
• 10:26
  SPEAKER_05: Um, you know, as people are nearing retirement, we have other financial options in terms of diversification, opportunities to help secure, secure their wealth and to create a create great sustainable environment for them to step away when they're ready to do so.
• 10:42
  SPEAKER_05: So I think a lot of great, a lot of really great opportunity to expand that educational piece.
• 10:48
  SPEAKER_02: Well, it's been really great talking to you.
• 10:50
  SPEAKER_02: It's really exciting to hear about this uh new role at Loft South Supply that you're taking on.
• 10:55
  SPEAKER_02: Uh, it's critically important, uh, not only for our ESOP, but really just for the development and recruitment of uh of the organization.
• 11:01
  SPEAKER_02: So glad to have you aboard.
• 11:03
  SPEAKER_02: Thanks for taking the time to share with us and talk about eSOP.
• 11:06
  SPEAKER_02: It was great talking with you.
• 11:07
  SPEAKER_02: Thank you.
• 11:07
  SPEAKER_02: Thanks.
• 11:07
  SPEAKER_02: Shalom Wicks, how are you?
• 11:09
  SPEAKER_03: I'm doing great.
• 11:10
  SPEAKER_02: Thanks for joining me here.
• 11:11
  SPEAKER_03: Thanks for having me.
• 11:12
  SPEAKER_02: Yeah, we're here to talk about uh eSOP, the impact of the eSOP, and uh not only are you an employee owner, but you're involved in our eSop Communication Committee, correct?
• 11:22
  SPEAKER_04: I am.
• 11:22
  SPEAKER_04: I am now the chair for 2026.
• 11:26
  SPEAKER_02: Wow.
• 11:26
  SPEAKER_04: Pretty excited about it.
• 11:28
  SPEAKER_02: Tell me a little bit about what uh what is your role in the eSOP Communication Committee?
• 11:33
  SPEAKER_04: So being the chair, I kind of oversee the committee.
• 11:36
  SPEAKER_04: The committee is a group of 10 employee owners.
• 11:40
  SPEAKER_04: We try to represent different aspects of the company because we want all those different voices.
• 11:46
  SPEAKER_04: So when we're planning events and thinking about how to create a positive culture, we want to remember all of the different types of employees we have.
• 11:57
  SPEAKER_04: So we come together and we really focus on educating because eSOP, not everybody knows about it.
• 12:03
  SPEAKER_04: So we want everybody to have a good understanding about what the ESOP is.
• 12:07
  SPEAKER_04: And again, just having activities to have that positive culture, because a positive culture makes such a difference in the workplace.
• 12:15
  SPEAKER_02: And again, what a commitment from the organization.
• 12:17
  SPEAKER_02: I know uh I know many companies have uh embarked on the journey of becoming Aesops, but uh and many times that doesn't go through.
• 12:24
  SPEAKER_02: So that was uh to those who came before us uh um that this was established for us, I think is a phenomenal uh benefit to the organization.
• 12:33
  SPEAKER_02: Um so you mentioned as part of the ESOP Communication Committee activities.
• 12:38
  SPEAKER_02: I I a lot of times at the office I see some of these fun things going on that you guys are doing.
• 12:42
  SPEAKER_02: Tell us about a couple of those things that you guys do throughout the year.
• 12:44
  SPEAKER_04: Yeah, so again, we really want to create a positive culture.
• 12:47
  SPEAKER_04: So there's a big ESAP month in October where you do a lot of things, but even throughout the year, we do things, everybody gets super excited about the chili cook-off.
• 12:57
  SPEAKER_04: Uh, there's also bake-a-thons, potlocks to bring people together, but even simple things like decorating your office.
• 13:05
  SPEAKER_04: And really lately, too, we've been getting into donating for the community, um, clothing drives, food drives, toy drives, really getting on the community.
• 13:15
  SPEAKER_04: And we want a good community in our company, and that means having a good relationship with our communities where our locations are.
• 13:22
  SPEAKER_02: Yeah, that's phenomenal.
• 13:23
  SPEAKER_02: And you know, there's been a lot of growth here at Wassau Savy.
• 13:25
  SPEAKER_02: Obviously, you know you've been part of that.
• 13:27
  SPEAKER_02: And uh, you know, making sure that that culture comes along with that growth is imperative.
• 13:32
  SPEAKER_02: And and it sounds like the eSOP communication community does a great job of making sure that happens.
• 13:37
  SPEAKER_02: Um, if you could uh, you know, I think for a lot of people, uh we we kind of brushed over here a little bit about it employee stock ownership and it's uh uh you earn shares in the company, but it's it's pretty complex.
• 13:50
  SPEAKER_02: How does the ESOP communication committee uh help uh our employees understand the program and the benefits of that?
• 13:59
  SPEAKER_04: Yeah, so the committee uh we now had a communications manager who does a great job on our company newsletter, which includes all of the company activities, um recent events, accomplishments, and that really just gets the employees more engaged.
• 14:21
  SPEAKER_02: Um Yeah, so that's great.
• 14:23
  SPEAKER_02: I think I I saw recently maybe something that we were gonna have coming up, uh, some uh uh kind of like uh uh call-in sessions where people could call in and learn more about the ESOF.
• 14:33
  SPEAKER_02: Is that coming up?
• 14:34
  SPEAKER_04: Yes, yep.
• 14:35
  SPEAKER_04: Um we are having educational sessions.
• 14:38
  SPEAKER_04: So a few of the members have put a lot of time into educational sessions.
• 14:43
  SPEAKER_04: Again, we want to make sure everyone really understands what the ESOP is and how that benefits you.
• 14:49
  SPEAKER_04: Um it's a lot of big words.
• 14:52
  SPEAKER_04: So really just to make that easy for everyone to understand.
• 14:56
  SPEAKER_04: So, yep, those are coming up soon.
• 14:58
  SPEAKER_04: We're really excited about that.
• 14:59
  SPEAKER_04: Um, but because we've created so much momentum of culture too, the committee is really gonna uh have an added focus on the education this year as well to help out in those areas.
• 15:11
  SPEAKER_02: So, Shalom, here's a here's a big one.
• 15:13
  SPEAKER_02: Um, because I think this is probably the most important thing.
• 15:16
  SPEAKER_02: It was for me, and then you know, other employees that I talk with.
• 15:19
  SPEAKER_02: I think this is really something that was a turning point for them.
• 15:23
  SPEAKER_02: And it's really how does employee ownership change the mindset of an employee?
• 15:29
  SPEAKER_04: Yeah, I think being an employee owner kind of puts your mindset into the future.
• 15:34
  SPEAKER_04: So it's not just about what do I need to get done today?
• 15:37
  SPEAKER_04: It's about how do I set up for the future of the company because the company's success impacts your retirement after you leave.
• 15:46
  SPEAKER_04: So you really want everyone else to be just successful as you are, and you want that success to continue after you leave the company.
• 15:54
  SPEAKER_04: So it really impacts uh all different aspects in just the outlook of the company.
• 16:00
  SPEAKER_02: That's amazing.
• 16:00
  SPEAKER_02: I always tell our sales team, you know, Wall Soft Supply can provide all the resources in the world from, you know, uh the best products in the market to uh samples and literature and the tools you need.
• 16:11
  SPEAKER_02: Uh but the one thing we can't give employees is time.
• 16:14
  SPEAKER_02: And it sounds like to me that being an employee owner, make sure that you're really using your time valuable.
• 16:19
  SPEAKER_02: Yes.
• 16:19
  SPEAKER_02: It's been great talking to you about the eSOP.
• 16:21
  SPEAKER_02: Uh, I want to commend you on, you know, uh, I know at Lost Hall Supply, uh as a TM, you're busy out helping our customers grow their business.
• 16:31
  SPEAKER_02: Uh so for you to take on this additional uh responsibility, I think is a testament to your commitment to the organization and the fellow owner.
• 16:38
  SPEAKER_02: So thank you for uh doing that.
• 16:39
  SPEAKER_02: And it's been a great talking with you, Shalom.
• 16:41
  SPEAKER_02: Thank you, Gary Penn, how are you?
• 16:44
  SPEAKER_02: Pretty close and tremendous.
• 16:45
  SPEAKER_02: Yeah, great to see you.
• 16:46
  SPEAKER_02: Thanks for coming on.
• 16:47
  SPEAKER_02: Thank you.
• 16:48
  SPEAKER_02: So uh you are the most tenured Wausaw TM sighting specialist on our staff right now, aren't you?
• 16:56
  SPEAKER_00: I think I've been for a while.
• 16:57
  SPEAKER_02: Yeah, for a long time.
• 16:58
  SPEAKER_02: How long have you been with us, Gary?
• 16:59
  SPEAKER_00: Going on well, it'll be 32 years this year.
• 17:02
  SPEAKER_02: 32 years?
• 17:03
  SPEAKER_02: We have a lot of people on our sales team that aren't even 32 years old.
• 17:05
  SPEAKER_00: Yeah, I know.
• 17:06
  SPEAKER_02: We're we're here to talk about the ESOP uh and what that means, uh, the impact that it can have on an organization and individuals.
• 17:13
  SPEAKER_02: How has the Aesop affected you?
• 17:15
  SPEAKER_00: Well, when when Ron first brought it up, it was like, what's an Aesop?
• 17:19
  SPEAKER_00: And it was I I'll be honest, I didn't really care because Ron suggested it.
• 17:24
  SPEAKER_00: I had to be good.
• 17:25
  SPEAKER_00: That's the way I looked at it.
• 17:27
  SPEAKER_00: Uh so I just went with it.
• 17:29
  SPEAKER_02: Have you seen Gary?
• 17:30
  SPEAKER_02: Tell me how do you feel that that uh employee ownership has influenced uh how the organization has grown.
• 17:38
  SPEAKER_00: Well, what I see mostly is is if you see our competitors out there, they have to pay their uh their stockholders.
• 17:45
  SPEAKER_00: And you know what?
• 17:45
  SPEAKER_00: We s we look at the growth we have, look at the investments we're putting into everything because we're in Esau.
• 17:52
  SPEAKER_00: I mean, that's huge.
• 17:53
  SPEAKER_00: That's where I see it.
• 17:54
  SPEAKER_00: Look at the last downturn in the economy.
• 17:57
  SPEAKER_00: Everybody's laying off.
• 17:59
  SPEAKER_00: Guess what?
• 17:59
  SPEAKER_00: We're in Esau.
• 18:00
  SPEAKER_00: We didn't.
• 18:01
  SPEAKER_00: Yeah, that was a big deal.
• 18:03
  SPEAKER_00: For sure, for sure.
• 18:04
  SPEAKER_02: I I I think can you tell me a little bit more, Gary?
• 18:07
  SPEAKER_02: Does it uh it it obviously influences in your decisions on how you spend your time, uh, what customers you spend your time with?
• 18:16
  SPEAKER_02: How do you see how it influences others?
• 18:19
  SPEAKER_02: You go out and uh maybe get a new conversion or a new customer, and you're expecting a lot of things to go right back uh at the office and in manufacturing distribution.
• 18:29
  SPEAKER_02: How do you view see how do you see that the ESOP affects the rest of the organization?
• 18:34
  SPEAKER_00: Well, let me ask it because it's kind of interesting.
• 18:37
  SPEAKER_00: I I over over a course of your life, especially as a TM, you you kind of somewhat get uh a burnout, if you would.
• 18:46
  SPEAKER_00: And about every five years you get burnt out, and and you're a lot of people take rash, rash decisions on that, and they I believe it.
• 18:55
  SPEAKER_00: Rather than looking at it going, I'm gonna still have the stuff I like, the stuff I didn't like, the people I do like, the people I I have trouble working with, that's gonna happen everywhere.
• 19:06
  SPEAKER_00: But the Aesop is what should hold you together because guess what?
• 19:09
  SPEAKER_00: You have that everywhere else, but you don't have an Aesop everywhere else.
• 19:13
  SPEAKER_00: That's amazing.
• 19:14
  SPEAKER_02: I can remember to be honest with you personally, uh when I came to work for Wassaw, I was uh I remember that.
• 19:19
  SPEAKER_02: Yes, very good.
• 19:20
  SPEAKER_02: Appreciate that.
• 19:21
  SPEAKER_02: Um I was working at Lowe's at the time, uh, was not somewhere where my entrepreneurial uh mindset could really uh uh deliver to that organization.
• 19:30
  SPEAKER_02: I was interviewing with Wallsaw and they were trying to explain an ESOP to me.
• 19:34
  SPEAKER_02: And it really didn't matter.
• 19:36
  SPEAKER_02: I wanted to get out of uh working at Lowe's, but I would tell you it was I wasn't here six months, and I really understood the impact of the ESOP and how everyone understands their place within the organization and how it contributes to the overall success and the ESOP.
• 19:50
  SPEAKER_02: Um, so you know, I think that's really on the people side of things and how it changes mindsets and and decisions people make, but there's also the other aspect and the impact that it can have, and that's really how it can impact uh your family and your future.
• 20:07
  SPEAKER_00: Yeah, well, I I I I look at it as it's it's we got away with a 401k and and we could still contribute, obviously, if you can or cannot, but it's um it's a good retirement when you're gonna be done.
• 20:20
  SPEAKER_00: I I I I hate to say it this way, but I probably don't have to be working.
• 20:25
  SPEAKER_00: I work right now because I want to be working, because I like working.
• 20:29
  SPEAKER_00: Yeah.
• 20:29
  SPEAKER_00: Um, but that I think people be will be rewarded with that.
• 20:33
  SPEAKER_00: And I don't you know it's hard to look at that when you're 20.
• 20:37
  SPEAKER_00: Um, but when you're 50, the the only thing I'm gonna say is invest in Ross.
• 20:41
  SPEAKER_00: When you're 50, you can retire.
• 20:42
  SPEAKER_00: Yeah, because there's a lot of that that a lot of people don't plan for, but this will this you're gonna be sapped.
• 20:48
  SPEAKER_02: Yeah, very great.
• 20:50
  SPEAKER_02: Um so let me let me give it a give help me out here.
• 20:53
  SPEAKER_02: So let's say you were talking to a uh potential employee or a potential person who is might thinking about coming to work for a Wall Supply.
• 21:02
  SPEAKER_02: Um, how would you explain to that uh prospect uh the importance and the impact of of an ESA?
• 21:10
  SPEAKER_00: Well, like I said before, you you you have the ability to you you're always gonna have fresh new material or uh uh manufacturing.
• 21:17
  SPEAKER_00: The the investment is what people don't get.
• 21:20
  SPEAKER_00: It's it's look at what we have, look at what we're developing.
• 21:23
  SPEAKER_00: I mean, we're we're state of the art.
• 21:25
  SPEAKER_00: Your competition is not.
• 21:27
  SPEAKER_00: So if you're looking at that, that's that's the biggest thing I see is look who you're working for.
• 21:31
  SPEAKER_00: I mean, you you could be uh, for instance, uh a TM that is now in your shoes.
• 21:38
  SPEAKER_00: That's that's something where a lot of people don't see that.
• 21:40
  SPEAKER_02: And I think that's right.
• 21:41
  SPEAKER_02: You know, I I I look at us, uh, you know, we had uh a new uh chief uh human resource officer come on board uh who had a lot of experience in uh a lot of big organizations.
• 21:52
  SPEAKER_02: And uh one of the first things he said is uh the internal promotion within the organization, and I think that is is driven because of the employee owner.
• 21:59
  SPEAKER_02: We're Really looking to develop people within and give them the opportunity to grow uh within the organization.
• 22:05
  SPEAKER_02: So uh really appreciate you coming on, uh sharing how the eSOP has impacted you.
• 22:10
  SPEAKER_02: Uh wanna thank you for your contributions and commitment to the organization.
• 22:14
  SPEAKER_02: Thank you.
• 22:14
  SPEAKER_02: Um so thanks a lot, Gary.
• 22:16
  SPEAKER_02: It's a great talking with you.
• 22:17
  SPEAKER_02: Thank you.
• 22:17
  SPEAKER_02: That brings us to the end of today's episode of Red Truck Radio.
• 22:21
  SPEAKER_02: A huge thank you to Melissa, Shalom, and Gary for sharing their time, stories, and deep commitment to what employee ownership means at Lost How Supply Company.
• 22:30
  SPEAKER_02: If there's one takeaway from today, it's this.
• 22:32
  SPEAKER_02: Ownership isn't just a benefit, it's a responsibility, and it's a culture we build together.
• 22:38
  SPEAKER_02: Every decision we make, every idea we offer, every time we go the extra mile, it all adds up to long term success for our company and for each of us as employee owners.
• 22:48
  SPEAKER_02: Thanks for tuning in.
• 22:49
  SPEAKER_02: If you like this episode, like and subscribe, and share it with a friend.
• 22:53
  SPEAKER_02: We'll see you on the next episode of Red Truck Radio.