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The ESOP Association
California/Western States Chapter
98 Main Street #608
Tiburon CA 94920-2517
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RETURN SERVICE REQUESTED
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The ESOP Association
California/Western States Chapter
presents
ABOUT
Sundt Construction, Inc.
Phoenix, Arizona
March 21, 2006
S.A. Miro, Inc.
Denver, Colorado
March 27, 2006
R.W. Smith & Company
San Diego, California
March 23, 2006
LeFiell Manufacturing, Inc.
Los Angeles Co., California
March 21, 2006
ISU Group
San Francisco, California
March 29, 2006
Tesco Controls, Inc.
Sacramento, California
March 30, 2006
FIRST-CLASS MAIL
U.S. POSTAGE
PAID
SAN RAFAEL, CA
PERMIT #31
O
It’s All About Value
f all the numbers in the vast sea of numbers associated with ESOPs, none is more important than the
number signifying the value of an ESOP Company’s
stock. It determines what can be received by the selling shareholders in transactions with the ESOP, and the
magnitude of the benefits participants are earning through
their careers with the Company. However, valuation, as
both a process and as an outcome, is significantly more
than a single number at the end of the appraisal report. As
a process, the valuation of your Company’s stock tracks
the aspects of your business model that add to or subtract
from the underlying value of your Company. As such, it is
often the best guide available to what you are doing each
day that increases (as well as decreases) the Company’s
value. As an outcome, if communicated properly, valuation can be concrete evidence of the results of each
employee’s hard work and diligent effort. The valuation
and the process for completing it can be a significant tool
in communicating with employee owners. Value is a core
factor for ESOPs and ESOP companies, and this seminar is designed to give you an opportunity to look at this
important factor in a new light.
♦
♦
♦
♦
♦
What is valuation and how often is it done?
How is company value determined?
How does the valuation affect the ESOP?
What affect does valuation have on employee-owners?
What affect can employee-owners have on valuation?
The seminar will present a morning panel of experts to
work through the process in detail and help you understand the process and the factors that influence the
outcome. More than that, though, the morning will set the
stage for the second half of the program in the afternoon
during which several ESOP companies will share their
experience with understanding value and incorporating it
into their communications with employee owners.
♦ Why do employee-owners need to know about their
company’s value?
♦ What are some ways to effectively communicate company value to employee-owners?
♦ How can discussions about company value motivate
employee-owners to act like the owners that they are?
Come prepared to talk about your company’s efforts in
communicating value to your employee owners.
BRING YOUR EMPLOYEE COMMITTEE!
March 21, 2006 - Phoenix, Arizona
hosted by Sundt Construction, Inc.
Speakers: Laurence A. Goldberg, Esq.
Kirkpatrick & Lockhart Nicholson Graham LLP
Jeff P. Wright, ASA, CFA, Centerpoint Advisors, Inc.
Anil Hiremath, The Groundskeeper
Mark Sidell, Schuck & Sons Construction Co., Inc.
Richard Condit, Sundt Construction, Inc.
March 27, 2006 - Denver, Colorado
hosted by S.A. Miro, Inc.
Speakers: Greg M. Hanson, Esq., Case Bigelow & Lombardi
Paul Halverson, ASA, Chartwell Financial Advisory, LLC
Cully Holmes, Vision Care Specialists, Inc.
Jenny Briggs, New Belgium Brewing Company, Inc.
It’s All About Value
REGISTRATION FORM
Check location: r March 21, Phoenix
r March 27, Denver r March 23, San Diego
r March 21, Los Angeles r March 29, San Francisco
r March 30, Sacramento
detailed directions will be provided
with your registration confirmation
Name(s) ____________________________________
___________________________________________
___________________________________________
March 23, 2006 - San Diego, California
hosted by R.W. Smith & Company
Speakers: Anthony Mathews, The Principal Financial Group
Michael Farrand, ASA, Higgins, Marcus & Lovett, Inc.
Bruce Shuman, Rainbow Disposal, Inc.
Jennifer Schnabl, Hot Dog On A Stick
___________________________________________
March 21, 2006 - Los Angeles Co., California
hosted by LeFiell Manufacturing, Inc. in Santa Fe Springs
Speakers: Sheryl Cefali, Duff & Phelps, LLC
Wendy Walter, R.K. Schaaf Associates, Inc.
Robert G. Sanchez, National Wire & Cable Corp.
___________________________________________
March 29, 2006 - San Francisco, California
hosted by ISU Group
Speakers:
Pamela D. Steverango, CFA, ASA, Valuation Analysts, Inc.
Loren Rogers, National Center for Employee Ownership
Jim Hawk, Rosedin Electric, Inc.
Nancy Kleppe, Norcal Waste Systems, Inc.
March 30, 2006 - Sacramento, California
hosted by Tesco Controls, Inc.
Speakers: Andrew Kubersky, ASA
Karen D. Ng, Esq., Thelen Reid & Priest LLP
John R. Scheuber, Veterinary Service, Inc.
Dennis Dalton, Western Contract Furnishers
John Michael Duncan, Northstar Plumbing
SEMINAR SCHEDULE
9:30-9:45 Welcome & Introductions.
9:45-12:00 Overview of the Valuation Process.
Questions & Answers.
12:00-1:00 Lunch; Guided Networking.
1:00-3:00 Communicating Company Value.
Company ___________________________________
___________________________________________
Address ____________________________________
City/State/Zip _______________________________
Phone______________________________________
Fax________________________________________
Email ______________________________________
Registration Fees
includes refreshments & lunch
#____ @ $50 ESOP/NCEO Members = $____
#____ @ $35 each additional member = $____
#____ @ $75 each Non-member
= $____
#____ registrants TOTALS
fees $______
r check enclosed r credit card charge
Credit Card # ________________________________
Expiration Date ______________________________
r Master Card r VISA r American Express
Cardholder Name ____________________________
Signature ___________________________________
Return registration form with payment to
The ESOP Association • 98 Main Street #608
Tiburon CA 94920-2517 • email esop@vkam.com
Phone 415/459-2234 • Fax 415/366-3255