Supply Chain Now Episode 376
The Supply Chain Buzz features Scott and Greg as they discuss the top stories in supply chain this week. This week’s featured guest is Rob Lopez with Peach Tree Commercial Capital.
Intro – Amanda Luton (00:00:05):
It’s time for supply chain. Now broadcasting live from the supply chain capital of the country. Atlanta, Georgia heard around the world supply chain. Now spotlights the best in all things, supply chain, the people, the technologies, the best practices and the critical issues of the day. And now here are your hosts.
Scott Luton (00:00:30):
Hey, good morning, Scott loot and Greg white with you here on supply chain. Now, welcome to today’s live stream, Greg, how you doing?
Greg White (00:00:36):
I am doing great Scott. And how are you
Scott Luton (00:00:40):
doing great for a Monday morning? Had a wonderful weekend. Yeah, it’s been a busy Monday morning, right?
Greg White (00:00:47):
Yeah, it has a and L it’s going to be a busy day too. Um, interestingly, not that this is necessarily supply chain news, but stock market jumped big time. Right? I was not expecting after the run it had last week and Boeing was one of the biggest climbers at least early on. So maybe we’re starting to see some good news.
Scott Luton (00:01:09):
I think so. And you know, as well as we’ll cover today as well, uh, there is other good news. If you look forward, there’s plenty of challenging topics to dive into, which we’ve got some upcoming shows specifically designed to foster those, those, uh, conversations, but, uh, no shortage of news across global supply chain. And that’s what this series is all about. Supply chain buzz. This is where Greg and I, uh, as we go through our collection of news stories and, and reading and research, which cherry pick some of those that are most important to be aware of. And, and along with some a reader’s digest, uh, style analysis, right? Greg,
Greg White (00:01:48):
yes, some, some analysis and some opinion. We’ll try to let you know which is which
Scott Luton (00:01:54):
that’s right. All about trying to raise our listeners supply chain Accu. Uh, in fact, uh, you know, today’s show is pretty exciting. We are sponsored by our friends over at Peachtree commercial capital. Hey, Zeus, Rob and the team are helping to finance growth across the business world, including in the manufacturing distribution space. You can learn firstname.lastname@example.org, always great to have new sponsors and partners as part of our programming, right?
Greg White (00:02:21):
Yeah, no doubt. And what they’re doing well, we’re going to talk about it. Right. But that’s right. What they’re doing is helping a lot of small businesses in a time when they have great need and God and need guidance. So yeah. Yep.
Scott Luton (00:02:32):
That’s right. And Hey, one of those times is right now, as we continue to navigate through these, these unique times, a quick programming before we get started, if you enjoy our live stream episode, be sure to check out our podcast program and wherever your podcasts from today, we publish a really neat recent interview with Jenny Froome from st. Pics and Dominic swamp Sweeney calls with people that deliver. I love that company, name, organization, name people that deliver.
Greg White (00:03:01):
Yes. And I love her, her theory, no product, no program. Right. Um, which we’ve talked about that on not only on that episode, but on other episodes as well. Right. Really common, uh, refrain. So
Scott Luton (00:03:18):
I like how simple it cuts straight to the heart of the matter. Right. You know, and, and also at the same time illustrate just how important global supply chain, uh, chops and knowhow and execution is to, to serve in some of these nonprofits are many, if not all nonprofit initiatives real quick, I want to say hit load by the way, check out our podcast, wherever you get your podcasts from be sure to subscribe. So you don’t miss a thing. Hey, real quick. A couple of early guests here, uh Siddharth is, uh, viewing tuned into the buzz via LinkedIn. Hopefully this finds you well. Great to see you again. We’ve got Diana Chumley tuned in via Facebook. Diana finds you. Well,
Greg White (00:04:00):
yeah. Thanks for, thanks for tuning in everybody.
Scott Luton (00:04:03):
Alright. So let’s dive into this day in.
Greg White (00:04:08):
I love this part by the way, everyone. I contribute nothing to this part. So this is as much fun and surprises for me as it is for you. So,
Scott Luton (00:04:16):
all right. Well good. Good, good. Well, there’s some trivia your way, Greg. We’ll see. So on June 8th, 1789, did you know that James Madison introduced 12 proposed amendments to the us constitution later, of course, called the bill of rights, these critical additions for the protected, certain freedoms, such as freedom of speech and religion and press much, much more. And in fact, uh, mr. Madison helped build the bill of rights, uh, using earlier landmark documents, such as the Magna Carta and the English bill of rights. So Greg cook trivia question, which two do you know which two amendments out of the 12 did not make it?
Greg White (00:04:57):
I don’t know, but I do know there are only 10. So that was going to be my question.
Scott Luton (00:05:01):
Well, those are the first two that, uh, Madison submitted were both not ratified. So the freedom, uh, the first amendment was actually the third amendment as initially written and everything got bumped up. And of course there’s been some group Bible additions since then, but today is when they were first proposed. So good stuff there. Wow. All right. So moving right along to own this day, June 8th, 1887. Now this is an interesting one. Stay with me here. There’s a lot of moving pieces. Herman Hollerith applied for a patent for his quote, art of compiling statistics in quote, he’d be granted the patent two years later, and it would allow Hollywood to later invent the punch card reader. One of the very first devices implemented and then, or invented rather that made it easy to process, of course, big data, very fast. And one of the big driving factors of that invention was, uh, he was a, uh, part of the census team. And at the time it took the census team eight years to compile all the data that came at eight years, Greg.
Greg White (00:06:12):
And that’s why it’s every 10 years, they needed two years of rest after compiling all that day.
Scott Luton (00:06:17):
So, so stay with me. So Hollerith later formed a company, uh, after getting the patent, I believe called the tabulating machine corporation, of course, right. Um, had a rough start until a savvy businessmen came, came on and joined the team. Thomas Watson, does that ring a bell? So Thomas Watson joined the team. The company was renamed international business machine and the rest, as they say, is history Greg ever heard of that?
Greg White (00:06:46):
I have heard of international business business machine. I think some people might know it as IBM, these days, big blue. And also in my early days, when some of my friends were working at while I was working at a restaurant when they were working at digital and various and sundry IBM and some other companies, I actually saw some of these punch cards. They were still being used in the seventies and eighties, um, for some of the older mainframe type computers. And I met people who still possess these things. Amazing.
Scott Luton (00:07:22):
So, uh, it is, it is a really neat story when you, when you start kind of connecting the dots here. So, um, really quick as we, before we move on to our next little, uh, this day, history, want to say hello to a few folks? Um, I am program mispronounced that name. Is it Greg Nickeel? Is that who you’re talking about? No, no, no. [inaudible] um, so foun, maybe I’m not seeing that one. Okay. You’ll see in that one. Well, I apologize if I mispronounce your name, but thanks for tuning in via LinkedIn, we’ve got Jeffrey Miller and so Greg, you might not build cities. These banners it’s scrolled down. So Jeffrey Good afternoon, wherever you are. Good morning, uh, as well. Uh, and by the way, uh, spoon is from Morocco. So, um, beautiful. This finds you well, this Monday Maricio via LinkedIn. Hope this finds you well, thanks for tuning into the buzz.
Scott Luton (00:08:21):
We’ve got Kirk Williams from San Marcos, Texas. Hope this finds you well, uh, let’s see here. And yes, you’re you got a great crystal ball over there. Greg Nickeel is tuned in from India. I believe so. Good morning. Good month. Good Monday, uh, to you Nickeel we’ve got Marcus Sims. Hey Marcus, how you doing? Great to see ya. Uh, real quick. I’m going to pause here. So Don Edward Long just published his first book and Donald I’m getting that number wrong. I, but congratulations. I saw you also just appeared on Jason Smith’s podcast to talk about your, your book. That’s fantastic. Hadn’t listened to that yet, but, uh, thanks for joining us here. And, and Greg, you remember Don, we, uh, last connected at mode X, right? Yep. Yeah. It seems like forever ago. Doesn’t it? Forever ago. Yeah. Yeah. He and I have had a conversation or two, since that. Uh, let’s see. I want to read what he has to say. Oh yes. Got to Kathy,
Greg White (00:09:28):
Kathy Maura Robinson’s mother made Christmas wreaths out of punch cards.
Scott Luton (00:09:34):
Get, let me get to that one again. I have to see pictures of that. So, uh, Jeffrey, some of us walked across campus at 2:00 AM to get our time on the machine, to run our card decks today, we build AI and ML applications. That’s so neat. Jeffrey, thanks for sharing and Jeffrey isn’t Atlanta right near us here. Um, Anna McGovern, uh, is tuned in, she has shared some really interesting and valuable insights and previous live streams. So hopefully we’ll get more of that from Anna. Uh, Greg, the air capital of the world is well represented. Right? Go shocks. Yeah. Professor Mohib. Yeah.
Greg White (00:10:14):
Yeah. And I saw a, I’m not sure exactly what he did, but he appeared or hosted, uh, something the other day. So, um, I’m actually gonna, uh, make an appearance in, um, Byrom yield rooms, class, one of the supply chain professors that at Wichita state
Scott Luton (00:10:38):
love that love that. Uh, and finally, as you alluded to, Kathy says our dear friend, Kathy, we’ve got a great Twitter chat coming up with, uh, her own, the 11th this week. Her mom did. Indeed. You were not kidding with this. Greg made Christmas reason out of all the key punch cards. I can only imagine how many punch cards were or were headed to the waste bin. Maybe I’m just trying to
Greg White (00:11:04):
thank you. How you do that. Maybe you like, we need pictures, Cathy.
Scott Luton (00:11:08):
Yeah. That’s all gotta have pictures. All right. So as we wrap up this front end, gosh, we have a very active audience this morning. Yeah. Let’s see here. And other news. So born on June 8th, 1955, sir, Timothy John Berners Lee, an English engineer and computer scientist, best known for what Greg,
Greg White (00:11:28):
um, he and a certain former us presidential candidate. Totally. He invented the internet or the world wide web
Scott Luton (00:11:38):
worldwide web. That is right.
Greg White (00:11:39):
Which originally was a way for professors and engineers and computer scientists to be able to connect their computers and communicate.
Scott Luton (00:11:47):
Yes. And he should get a great Facebook tag or LinkedIn badge for doing that. So hopefully, I wonder if I wonder if he was even on the internet and other news, it is engineer’s day in Peru and it is world ocean’s day, which is a new one for me. But as I checked out their website, I love the initiative. So y’all check that out world oceans day. You can Google it and be the first response and they’re doing some really neat things to help protect our world’s oceans. Yeah. Okay. So moving right along, we’ve got a great guest featured special guests here today. So stay tuned for that. About 15 minutes from now, we’re gonna be talking more about financing and growth and, and some of the resources we need, uh, companies of all sizes need to get through these unique times. Yep. Alright. So, so you know, we’re going to keep doing this the last week.
Scott Luton (00:12:40):
We started to come in a new format where rather than take two or three stories and do a deep dive, we’re going to steal the headlines from kind of some of the more important headlines from across a newsfield global supply chain industry. And we’re going to kind of give you a few nuggets around the headline and then Greg and I both give you really quick in a nutshell analysis on the store. Maybe not for every one of them, but for many of them. Alright, so Greg, are you ready? I am. Let’s dive into the buzz. All right. So story headline, number one, rather. So of course, as expected, FedEx implements, temporary surcharges, they followed ups and implemented temporary peak surcharges, which go into effect today. Our friend, Cathy, who is owned here, uh, on the live stream, at least this front end can talk all about this. I’m sure.
Greg White (00:13:28):
Well, we talked about that. They had announced that they were doing it last week on the buzz and Kathy was not surprised. I think she actually said, I’m surprised it didn’t happen sooner, but now it’s official, right? They are right there on board with, uh, with ups,
Scott Luton (00:13:45):
uh, speaking of Kathy, Greg, uh, on that punch card, Christmas wreath, she’s, she’s posted a picture within the stream. I can’t view it right this second, but we’ll have to, we’ll have to circle back on that. Love that back to FedEx. So according to the Memphis business journal, and you know, this story was covered so many outlets, but this is where I, I came across it. 30 cent surcharge is going to be placed on all packages sent to houses for customers who ship at least 40,000 packages each week, a $30 surcharge will be added to oversized packages and a 40 cents surcharge will be added to FedEx SmartPost packages. So FedEx last announced or implemented surcharges on April 6th. And you know, Greg, one of the things that, that, that we have spoken to here is just how long these surcharges oftentimes stay in place. Right.
Greg White (00:14:35):
And how they don’t, they don’t necessarily go out of existence when there’s good reason for them to, we talked, I can’t remember if it was on the buzz last week, but we talked a little bit about, um, fuel surcharges,
Greg White (00:14:52):
which were implemented when diesel fuel was $4 to four 50 a gallon. Yeah. And they’re still fuel charges now. And I saw a diesel recently below $2. Uh, although I’m, I wanted to point out this, uh, when they reported last week that they were going to make this adjustment, they said 37, a cent surcharge. If they shipped at least 25,000 packages. So at least they’ve increased the buffer a bit because the impact was predicted to be, um, pretty substantial. It was originally going to be, if you ship 25,000 packages a week, that you would be in the group that incurred the surcharge. So at least they raised the volume.
Scott Luton (00:15:34):
Hmm. Yep. Interesting. And, and, you know, and we expected this to happen, right. This was not a surprise. It was just a matter of when they would follow ups is lead. Right.
Greg White (00:15:44):
Well, and, and today what they had done is limit the volumes of their highest capacity shippers. So I’m sure that they had a significant back and forth communication that, do you want it to absolutely positively be there overnight or right. Or do you want to save money?
Scott Luton (00:16:01):
Greg White (00:16:03):
Because clearly last mile delivery is more costly than I think a lot of these partial shippers are able to scale to right now.
Scott Luton (00:16:12):
Yep. Good points. All right. So moving right along, you know, um, it has been an active C I mean, I’ll, I’ll defer to the expert here, but it seems it’s been very active folks. Companies are finding opportunity without being opportunistic and in many cases, at least, um, and a couple of deals that were made last week, and this is just too, we just cherry picked here. There were plenty of others. First, the logistic service provider Transplace acquired scan data systems, a leading provider of parcel transportation management solutions. That was a new acronym for me. P P T M S parcel transportation management solutions. Uh, the company’s PTMS platform does quite a few things amongst them, optimizes carrier selection, label, printing, tracking, even invoice reconciliation. Amongst a, as I mentioned that just tip of the iceberg scan date, as PTMS capabilities will be immediately integrated into trans places, TMS platform, which is a acronym. I think we’ve all wrapped our heads around in recent years, palletize, freight and whatnot. Yet Transplace sees this as a move that will support its clients growth when it comes to eCommerce and direct to consumer while also increasing efficiencies and optimizing transportation span, which we all know is how important that is always, but especially in this day and age. Right. So real quick, Greg, give me a comment or two on this first transaction, and then we’re going to recognize a few folks that just joined the live stream, then we’ll move to the second one.
Greg White (00:17:48):
Yeah. So I think first of all,
Scott Luton (00:17:50):
um, congratulations to the folks at Chainalytics, um, some of whom, many of us know, and, um, because this was a part of their solution, just a part of their vast solution set. And I think they just decided to divest this at, at this point. So, um, what this really does is it brings the capability of managing big freight, right? Traditional freight, whatever, and, and last mile or parcel freight. Um, and my guess is that they will be blending these solutions together so that they communicate effectively imagine a scenario where a semitrailer is partially parcel and partially palletized or freight. Right. I mean, it could happen and frankly yup. Agreed. Uh, so real quick, want to say hello to a few folks, uh, blaze is from London. I think he was part of our, he’s been a couple of, part of a few of our labs streams. I think he also participated in trivia if I’m not mistaken. Uh, and we were talking about the produce right last, last week, uh, that he weighed in and we have, um, we’ve got Patrick Kelly, as you just shared, Patrick is all about produce and produce market. So maybe,
Greg White (00:19:13):
or in produce and somehow has managed to survive.
Scott Luton (00:19:17):
That’s right. And remain cool. So they’re going to have to get connected. Rob Morris is tuned in via YouTube. So Rob hope this finds you well. Um, and let’s see here, of course, Benjamin gold claim.
Greg White (00:19:32):
Uh, I’m guessing he’s just back from his second run of the day. I’m looking at the time,
Scott Luton (00:19:38):
maybe so maybe so. Um, and then, uh, David Glover, great way to start a long work week, happy Monday, David hope. And he’s tuned in via LinkedIn. I hope this finds you well. All right, so let’s move right along. We’re going to talk about this second acquisition. This is right before our guests is going to join us here in a few minutes here. Um, so dat solutions which operates in online freight marketplace and produces market intelligence has secured a deal to acquire the freight market intelligence consortium from Chainalytics right. So F M I C another acronym, uh, according to transport topic, you know what, so I have, I reversed these, uh, the graphics here evidently well, nevertheless, according to trends, transport topics, dat offers real time spot market, transaction pricing, and FM. I see, uh, the acquisition is going to add intelligence and rate modeling expertise in the contract market. In particular, the new partnership may also lead to new services being developed, um, reportedly FMI, see the, again wa is going to operate much as it has been operating even after it’s integrated into the dat, um, organization. So a lot, a lot, a lot, a lot of moves, big moves taking place here.
Greg White (00:21:01):
Great. And these are just a couple of samples. Um, I mean, there is a lot, there’s a lot going on has been frankly, a lot going on in a supply chain and an acquisition. And, um, I think we’ll see more for, you know, some of it will be frankly, a little opportunistic. Some of it will also be, uh, based on recognition that there is a lot of opportunity. There are a lot of synergies that need to be brought together where companies need to expand their capabilities, their solution suites, to be able to manage, uh, the disruptions here. Look, these disruptions occur all the time, but not usually on this scale. And I think this has been a great catalyst for companies to start to recognize it’s time to, you know, to start rolling up applications, to create a singular app application.
Scott Luton (00:21:52):
Well put, well put, well, uh, on that note, uh, we’re going to move right into our featured guests here today. So, uh, we are going to be featuring Rob Lopez with peach tree commercial capital. Yeah.
Intro – Amanda Luton (00:22:11):
Scott Luton (00:22:12):
Hey, Rob, how are you doing? And Rob, you are live with us here on the supply chain buzz. Good Monday morning.
Rob Lopez (00:22:22):
Good morning guys. How are you? Thanks for having me today.
Scott Luton (00:22:24):
Doing great. Hey, welcome aboard in this day and age of the internet being used by everyone and their sister to the 10th degree, uh, it’s still doing a great job, but Rob, great to connect with you remotely love what, uh, the peach tree, uh, team has been doing. And looking forward to learning a little more about, um, about that to here today. So for starters, you know, based on the earlier conversations that Greg and I had with you and Hey Zeus and other members of the team, it seems like Peachtree is helping companies, you know, early across business, especially small businesses, um, take advantage of the growth opportunities and this even as challenging set of circumstances. So tell us more about what your organization does, Rob.
Rob Lopez (00:23:08):
Yes, good afternoon, everyone. My name is Rob Lopez. I am a commercial, uh, loan specialist at basic commercial capital, uh, restrict commercial capital is a full service commercial loan brokers firm. So what it means that we are experts in commercial real estate financing, and that includes, uh, bridge financing fix and flip bridge, a refi portfolio, uh, anything that has to do with construction, uh, development acquisition also with, uh, uh, equipment financing, asset bales based lending. If you want to, of course, say for our warehouse is VA loans. We’re going to talk about more in a few more minutes, working on our working capital on the credits and also, um, I count receivables financing, which is huge in the trucking industry. Yes, as you mentioned, uh, we take great pride. We’re very involved with our community. We are actually reaching out to businesses that for some reason or another, haven’t been able to, uh, to take advantage of the SBA funding available right now for the COVID-19 in particular, the PPP and the AVL. Uh, some people that are still don’t know the difference between both. Uh, I would like to talk more about it in the next couple of minutes, where are the main differences and actually do one of these loans, uh, if used in a certain way, you don’t have to pay it back when it comes to grants and that help you. Uh, we do business for your payroll needs, utilities, rents, mortgages, and actually bang for certain data that you are quite an interest accrued before February, 2020.
Greg White (00:24:50):
Let’s talk about that a little bit, Rob. So I think, I think there’s a broad perspective out there that a lot of the governmental programs they’ve already been issued and spent the first round was issued and, and provided so quickly that many people who had applied didn’t even on the very first day that you could apply, they didn’t receive any funding. And then there was a second round. And I think people, if maybe they didn’t get funded in the first round, they may believe that they won’t or, or, um, haven’t tried for additional rounds. So tell us a little bit about that. The availability of funds and, and, and like you said, what all they can use it for.
Rob Lopez (00:25:34):
Yeah. So, well, there are a couple of things happening with here. Uh, and everything boils at the misinformation because, uh, they hear it from friends and either friends that may think that they are not going to qualify, eat there or the money, the reality on the second round, there is still money available. I just check a couple of weeks ago and it was over one point $2 billion available in funding. So that was a couple of weeks ago. So it is safe to say the right now, there are only in the hundreds of mirroring available and why shouldn’t businesses take advantage of it. Some, you know, in the trucking industry, many folks are single proprietors. They still qualify for it, right? Don’t shy away because you don’t own a big company or you are not S-corporation corporation, LLC. There are many ways that you might be able to get the funding. You need to build your backing truck in three, improve your cashflow at a minimum. It’s worth a conversation. Lack of awareness is can bite you in a number of different ways. Certainly when it comes to financial wherewithal to tackle a variety of situations
Scott Luton (00:26:44):
as you’ve laid out there, Rob, um, Rob, tell us more about, uh, you touched on and I believe some of these loans may not have to be paid back. Is that your understanding?
Rob Lopez (00:26:55):
Yeah. So let me touch of two different types of loans we have right here that PPP and the E IDL, that PPP stands for a patient protection program and it is funded by lenders and the Eid L or the economic injury, uh, loan. This has the loan. It is funded by the SBA. Okay. Here are the main differences. So the PPP, once you get funded, you can use up to 75% of that loan. So what’s your parallel expenses. And if you do that in, in eight weeks becomes a grant, you don’t have to pay it back. What is the Eid L in his not forgivable. Okay. You may qualify up to 2 million that you had to pay in 30 years and a 3.3%, 5%, right? If you’re a for profit or two 75%, if you’re a non-for-profits.
Scott Luton (00:27:52):
Mm Hmm. Well, that, that, that is good news for a lot of folks, right?
Rob Lopez (00:27:57):
Yes, it is. Yes, it is. Because you can use the money for your payroll. Like I said, for the BPP, uh, payroll, mortgages, rent utilities, and, you know, it keeps, it keeps money bringing in there and, you know, uh, improves the cashflow. So you can keep your employees. That’s the whole point that you don’t have to lay off people. You stay in business because the reality is if businesses go out of business, it is very expensive for the government. It is very fast for all of us. So our strategy, the businesses, the government is using is to keep this businesses operating without any disruption that cashflow. And that’s what, that’s what the goal, right?
Scott Luton (00:28:38):
I can see Greg beaming. When you talk about cash flow, we’ve talked about a lot of special during the pandemic environment, right?
Greg White (00:28:44):
Anytime you have this kind of seismic disruption, you need cash, right? We will arguably, this is a recession. Now may be very short, lived. It may be longer, but cash is what you need in a recession. And what I like about these programs is that they are life saving. They are business life saving at least, right. Because some of these companies wouldn’t survive without these funds. And, uh, and I think this is, uh, like anything to do with the government. It sounds easy until you look at the paperwork and then it sounds and looks very difficult. I mean, we, you know, we’ve worked with folks, Steve Keaveny and the folks at clarity, capital advisors who are doing a similar thing, um, they’re kind of guiding people through the process. Right. And I wonder because that can be a overwhelming.
Rob Lopez (00:29:42):
Tell us a couple of things, Rob, is there guidance out there or maybe you guys provide it for these companies to understand the qualifications. Clearly they do become fun. I mean, they do become grants and also a little bit about funding in the post pandemic world. What do you think that is going to look like? Okay. So to answer the first part of your question, as far as the requirements requirements that are going to change in a number of factors and Alyssa start with that with the type of entity, whether you’re single proprietor, LLC, S-corporation secret operation required the front desk of the commutation. So if you’re a single proprietor, your 10 40 schedule was suffice. If you don’t have any employees, but if you have employees, you have to provide additional documentation. So chest your IRA’s nine 44, not 41 for the past four quarters and so forth.
Rob Lopez (00:30:40):
So it depends on the entity of your business. How many owners you have, if those owners have at least 20% of stake in your company, additional, um, uh, documents will be required. Got it. One of mine is a week help of everyone. It will charge for the advice. We just want you to have a conversation with us to see where you stand, because it is in our best interests for our communities to thrive. We want everybody that we come in touch with, be able to provide some sort of a help. Even if you don’t proceed with us gadget the direction that is most beneficial to you now to answer this right? If you don’t get help with Peachtree, get help somewhere.
Rob Lopez (00:31:26):
If you don’t ask the answer always will be no, and we are helped to help you. We are here to help you. We want you to succeed because if you succeed the entire community succeeds, and that’s the whole point of all that well, and you have to use the funds in a very specific way, and you also have to apply I believe, for the grant or the forgiveness of the loans, correct? Yes. Yes. I’m having you all as, as a Sherpas to walk people through the process, I think is very helpful. Yes. And one thing that I would like to say is that we have you very successful. We have a success rate, 100% for every business that we’ve been in contact with. We have enabled to provide the people pillows that they need. And so far also for the ideal, the ideal takes longer, but they are getting the loans that they need.
Rob Lopez (00:32:14):
So that’s a, that’s very enriching to be part of that. Yeah. That’s great. Go ahead. Yeah. So Paul Hertz pandemic, what do you think lending looks like? I mean, what do you think the needs of these companies will be and what do you think lending looks like? Well, uh, as far as like addressing the cashflow part that, that, that, that you mentioned earlier that post carpet what’s what’s next for businesses. What are some point the is VA loans are not going to be available anymore, right? We are here to help folks with improvement that cashflow, so we can do it in a couple of ways. We can help, uh, the trucking industry just to name one industry. Cause it can be any industry receivables, right? We can help him out, uh, with a, with a conversation with financing, uh, find that top rated buyer that is willing to buy those receivables and give them an upfront infusion of cash for the business to thrive. And also with caught working capital credits, your industry is going to require a different type of financing, but nonetheless, we’re here to, uh, to answer any questions you might have. And the consultation is absolutely free. There’s no charge for that.
Greg White (00:33:32):
And you guys have been doing this for awhile, right? I mean, so not, not just, you’ve been doing the traditional lending that you’re talking about as well as the, um, SBA emergency pastor loans, right?
Rob Lopez (00:33:45):
Yes, that’s correct. Yes. Yeah.
Greg White (00:33:48):
Um, yeah, I looked you guys up on LinkedIn. So you’ve been in this industry for a while clearly,
Rob Lopez (00:33:53):
right? Yes. Yes. Uh, our, our founder and CEO has just Martinez. He has been in the industry for over 25 years. And, uh, so he’s very knowledgeable as far as a financing lending, uh, and everything that comes with it. Correct.
Greg White (00:34:09):
How much, how much activity are you seeing right now in terms of loans? I mean, clearly you felt like it was necessary to get the message out. And we agree because we feel like there’s a lot of confusion out there in the marketplace, as we already talked about, a lot of people think the money’s already gone, but have you seen people starting to recognize that it’s still out there and coming? Yeah.
Rob Lopez (00:34:33):
Yes, because we have the embedding proactive, we are actually reaching out to businesses and just having a regular, you know, just a simple conversation. How are you doing guys? Are you very well taken care of? Is there anything we can do for you? And, you know, and just ask the simple questions, you know, they will let you know how they’re doing and we can help him out there. Yeah.
Greg White (00:34:55):
Great. Well, I’m glad you guys are getting the word out. I think just one more, um, technical detail, the E I D L is a 10 you’re alone also, right? It’s not like it becomes due and payable immediately
Rob Lopez (00:35:09):
or is actually a 30 year old, 33 year old. Yes. And you know, and you are actually, the first payment is the, for one year and the interest rate, it is funded by the SBA is not by lenders. And the interest rate is 3% 85% for for-profit companies or in the two 75% for nonprofits.
Greg White (00:35:35):
Wow. So, I mean, none of these programs become really burdensome as long as you use them and [inaudible] activate or activate the benefits the right way. Right. So, all right. So, uh, well, I appreciate that. It’s good to have your insights. I appreciate you guys, uh, trying to get the word out and helping some of these companies to survive and thrive in this post, in this environment, but also post pandemic. Um, so tell us a little bit, how can folks reach out to you? I see your email address there. So that’s good.
Rob Lopez (00:36:08):
Yes, correct. Yes. Our website is Peachtree cap.com. That is page three C a p.com. And you can send us an email where you can send it directly to me, Rob peace, recap that comm uh, also, uh, let me give you my cell phone. Uh, should you niche, uh, reach out to me quick is (404) 357-5915. Again, my cell phone is (404) 357-5915. Or you can call the office, uh, uh, (678) 784-4114. Okay.
Greg White (00:36:49):
These are us only programs, just so everybody knows because we have a lot of people from all over the world watching right now, but, okay. These are new programs that you’re administering, correct? Yes. That is correct. Yes. Right. Great. Well, thank you for joining us, Rob. I appreciate it. Thanks for having me. Thank you. Thank you. And keep up the good work. I really appreciate you helping out a lot of these small businesses. Thank you guys. Alright, take care. Bye bye. Hey, so I guess I’m flying solo and without a net now. Um, I think we might’ve had some internet issues at Scott’s place, so no graphics today on these last few stories, but, um, a couple of these are really interesting, so let’s, uh, let’s talk about them.
Scott Luton (00:37:40):
Alright. I think we’re back. I had it, man. I had it. I hated to miss that second half of the conversation with Rob, but I understand from a couple of texts, I got that, that folks, it was really resonated. The conversation was resonating and folks simply weren’t aware of some of these opportunities out there.
Greg White (00:37:57):
I think people really thought that these programs were all gone. I can tell you that, you know, you and I, we talked to small business owners all the time and w they were really surprised that there was anything left. Yep. Um, you know, the truth is if the press doesn’t promote it. And, um, and, and as Rob said, if all you’re hearing is from your friend who didn’t get approved, um, how else would, would you know, why would you expect there to be any, anything out there so great that folks like them are, are, um, promoting that and helping people through the process? Claudia freed, uh, also said, and we talked through this with Rob that, um, it’s not automatic. I want to repeat this for anyone. Who’s still interested in those loans. It’s not automatic that the loan is forgiven. You have to apply. So, and there are some really specific, we talked about this with Rob as well. There are some really specific requirements for usage of the loan in order for it to be forgivable, to begin with. So as, um, we were just talking about Steve [inaudible] and the folks that at clarity capital advisors, who had helped a lot of companies apply, uh, for the PPP and the IDL. So, um, there, you know, it get help. It requires some professional help and it’s no charge help by the way.
Scott Luton (00:39:23):
Yeah. What a great, uh, I, I heard that right before I was, Oh, was a unbeknownst to me gotten the hook. Um, but right. I want to share our Rob’s contact information with our audience real quick. Okay, good. And we’ve got it. Um, uh, it’s in the show notes as well. You can find his LinkedIn direct link to the profile, as well as the link to peach tree cap.com. Yep. All right. Big, thanks to our friends at Peachtree commercial capital. All right. So Greg, are we ready to dive into the second half of the headlines? Let’s do it. Alright. I’m gonna keep my fingers crossed because, uh, it more than one surprise on a Monday is never, never a good thing
Greg White (00:40:07):
for, um, yeah, you’ve done. Okay. Okay. Good.
Scott Luton (00:40:12):
Alright. So we’re going to take this the second and final headline scan today is really going to focus on the manufacturing industry and there’s no shortage of stories there. Um, so let’s lead off with some not so good news. And this is, this was a, maybe a personal story here. I remember earlier in my career where, uh, we were trying to get a lot of business from this plant, this lazy La-Z-Boy plant in Newton, Mississippi, uh, made several, uh, long car rides kinda across as I would do for a lot of different reasons across the Southeast. And we stop and see this plant one, fortunately, Michigan based furniture manufacturer La-Z-Boy has permanently closed its longtime plant in Newton. Uh, this is part of a major streamlining initiative by the company, which is, is pretty common during these times, which includes, unfortunately laying off about 10% of their global workforce closing of retail stores and adjusting its production schedule, uh, production from the closed Newton plant is set to be shifted to company sites in Tennessee, Missouri, and Arkansas. So not so good news there, but, but unfortunately, um, Greg, we’re hearing a lot about this from automotive to consumer goods and beyond,
Greg White (00:41:28):
well, you know, the unfortunate happenstance is that, um, a lot of people are not familiar with the virtues of the recliner. Um, it is kind of like, it is kind of a, uh, you know, furnishing from a bygone era. And I think a lot of people, myself included, depending on how it’s done, think it’s kind of a tacky piece of furniture and La-Z-Boy is unfortunately become the victim of that. But I’ve got to tell you, it is pretty darn comfortable. I remember my great grandfather and, and grandparents, of course, all having those kinds of chairs. And I hope that this does not spell the end of, of that particular furniture line, right. Greed, you know, and a lot of, you know, we could see more of this in the furniture industry at blue Ridge that, um, my previous company, we do a lot of work in, in the furniture industry and a lot of what goes on in Mississippi though. I think it was more than this and you would know better. Nice Scott, a lot of what goes on in Mississippi, uh, and the plants around the coast is the frames are imported from China. And then the upholstery is put on in those plants in Mississippi. So they may just be shipping the frames, um, in some cases to other locations, remember the good old days when Hickory, when furniture was actually made in Hickory North Carolina, go to the furniture factories. If you lived in the Southeast to get good prices on furniture long gone those days,
Scott Luton (00:43:03):
and looks like maybe we got a little slight freeze with
Greg White (00:43:10):
you’re new you’re new fast internet is,
Scott Luton (00:43:13):
Oh boy. Alright, so Greg, let’s keep driving here. You invented the worldwide web Scott. Maybe we should give him a call. All right. So the German manufacturing sector, it’s not, so it’s not just a U S uh, you know, the German manufacturing sector saw orders fall at a record pace. Uh, this is an April, so, so there’s a little bit of a lag in the data cause this report comes just from last week. Uh, so the German manufacturing sector saw orders fall at a record rate in April, 2020. According to data that just recently released a domestic orders decreased about 22% for an orders decreased 28%. So if you’re in a manufacturing sector, it’s just, it’s, it’s a very challenging time, which is, it kind of goes without saying, but you know, across the, across the world.
Greg White (00:44:04):
Yeah. Well, I think a lot of this is April and we expected it. You know, of course we have our quarterly report that we do with us bank on the freight payments index, right. That they do. And it indicated a lot of this coming. And I think a lot of industry and market analysts expected to, to, to be much, much worse than Q1 because of the lag effect, the bullwhip effect, which we often about, um, of this, you know, essentially, um, eliminating commerce for two months. So this is fully to be expected. I don’t know what it takes for it to come back, but you can already see, and we saw some surprises by the way, in, in, um, the job numbers, you can already see people starting to go back to work. I can verify, um, having driven in, in rush hour traffic in Atlanta on Friday, I can verify that people are going back to work and they are every bit as friendly driving home on Friday as they’ve ever been.
Scott Luton (00:45:08):
Well, let’s get to some good news right in the world of manufacturing, nonetheless. So India is making a huge push in manufacturing. So in this story from CNBC India’s government announced a six point $6 billion plan to boost electronics manufacturing industry in the country in particular, India is targeting the production and assembly of smartphones. In fact, India is one of the world’s fastest growing smartphone markets in the country in particular, right, right hand in hand with that, it’s the second largest mobile phone producer already in the world, Greg.
Greg White (00:45:44):
Mm. And China’s first I presume. Right. And we we’ve talked a lot about, um, China plus one plus two plus three, or reassuring near shoring. So it’s natural that a lot of these, uh, discussions will start to occur. You know, one of the challenges that India has is they’ve got an enormous workforce, just like, uh, China. One of the challenges they have is slavery is an even larger problem in India than it is in China, though. They are making progress. But as consumers become more aware of supply chain and provenance and fair trade, this is going to be an issue that they’re going to have to really address. Just to give you an example, since 2016, uh, when they had 18 million people working in slavery, they’re down to, I’d say down to, I can’t play on saying that down to eight, around 8 million people, but they are making progress, but clearly there’s a ways to go. They’re not necessarily in the cell phone industry, but it is in the coal and various other industries.
Scott Luton (00:46:52):
You know, as, as we talked about, uh, India manufacturing a few weeks ago, there also, uh, new steam is being, uh, is, is gaining, is, uh, gaining around their pharmaceutical industry, uh, growth, you know, so we’ll see. I mean,
Greg White (00:47:09):
and they were always an additional source for PPE as well. I know that, you know, in the early two thousands, um, we used, I worked with a, as a client, I worked with a, um, uh, medical and veterinary distributor and they moved out of China, Malaysia, and India in order to have some diverse diversification of sourcing there, even back then. So they, you know, they look, I have faith in this country. Right. Um, I, I don’t have the same faith in China to become a good actor, but I do have faith in India to get there. They’ve got a lot of work to do, but they’re at least going in the right direction.
Scott Luton (00:47:52):
Yep. All right. Uh, and UMich, uh, hello. Uh, he joins us from Turkey on a lot of these live streams. So Ooma hope this finds you well. Okay. So let’s talk about, you know, you said that you just finished your comments there on that. You feel good about what was taking place here in the U S and of course, Tesla isn’t just here, but it is, uh, they certainly are. Elon Musk is certainly a big part of the forward looking, uh, aspect of, of manufacturing here and abroad. So let’s talk about Elon Musk who continues to be on the move in a, in a deal that is just now surfacing. Cause this is the deal took place. A couple of years ago, Tesla has acquired compass automation, a company that makes equipment in particular for automotive manufacturers, as it turns out, Tesla purchased compass automation back in December, 2017.
Scott Luton (00:48:46):
Right. But somehow they kept it off the radar across industry. So I’m sure this acquisition, you imagine now a Holy cow, uh, they’ve got quite a bunch of PR ninjas over there. Huh? Right. Um, this acquisition, that probably was a great step in Elon. Musk’s stated mission, which has been out there since he first claimed in 2016 to focus on the quote, the machine that builds the machine. Right. Quote. So, uh, Greg, whether we comment on this story or for take a deeper dive into, uh, some of the things that, that movements like this will, will help open up options and more appealing options. Give me your take.
Greg White (00:49:29):
I think this is, this is a little bit of both. It’s an interesting story about, about Tesla because electric was the recent story of re the recent acquisition. And at the same time, they uncovered this acquisition in 2016 of compass automation. So we’ve talked a lot about what are the other strategies besides China, plus one, two, three, besides diversification of sourcing through Indian and near shoring and reassuring and all of these things. It’s also automation because Chinese workers make on average 10 to $13,000 a year, it’s impossible for the U S to replace Chinese labor with labor. So automation will be a necessity. Seeing someone who is clearly such a leader, clearly such a leader who, who put America back in space, right. We can’t count on the, to do it, but we can count on a billionaire to do it. Um, it’s encouraging to see him and his companies start to focus on these things. Cause clearly Tesla makes things happen. They made the electric car beautiful, right? They made it, uh, efficient and effective. They put us back in space. This is a company that is clearly has vision. And the ability to execute this automation will help them execute in greater measure because they are well behind their production goals for things like the model three and other vehicles that they want to build. And of course they want to get to, uh, electric vans and semis as well. So, yeah.
Scott Luton (00:51:13):
So, um, let’s talk, let’s go broader a little bit here because, um, you know, there there’s been no shortage of discussion, uh, propaganda talking points. Also some well thought out, uh, looks, look aheads is really because we’re moving hopefully faster and faster and faster into the aftermath, the post pandemic environment, uh, generally, uh, looking just sheerly at numbers here in the States, generally the curve has been flattening. Uh, we’ve got a couple States in particular, uh, where there might be some question marks, but generally speaking, there is good news out there. So naturally a lot of business leaders are, are already have been shifting gears to, okay, what does this new normal look like? Sorry for the cliche, but it fits. Um, and what do we, how do we need to be best prepared? How do our operations and our workforce and our technology, our platforms, what w what changes do we need to make based on the elements and, and the ingredients in this new normal. So a big part of that, Greg has been a lot of talk around new sourcing options moves out of China. We’ve seen, of course companies like Japan make huge, bold moves already, right. Uh, helped in part, or maybe in large part by the, uh, the government and its intentions to make certain changes. What Greg, give us your take here.
Greg White (00:52:41):
Well, I mean, you know, there, we’re going to see shifts for a lot of reasons, not the least of which is that society was changing already. Right. Um, the incoming generations, I want to say the younger generations, but, um, I’m not, I’m not in that regard. They don’t want hard labor jobs. They don’t want risky jobs and they don’t want, um, highly physical jobs. They are more equipped to do technical jobs and, um, and analytical jobs and things like that, which frankly human beings are more equipped for to begin with. So some of these, seeing some of these things occurring is really, really, and diversification of sourcing into different countries. Just the conversation of getting, um, you know, of assessing risk and, and risk is as our dog, clay mentioned, one of the number one terms, and I think the most overlooked term, frankly, very surprising analysis stunned me. And I’ve been in supply chain for a long time. Risk was the first word he thought of when he thought of supply chain. So, um, I think really valuable to look at it from a risk perspective, as well as an economic perspective. And I think risk cuts into economics quite, and I think people are finding that pretty significantly. So, uh, I think what this is, is this is an awakening to the risk and supply chain and how to mitigate and, and recover from the inevitable disruptions that will occur.
Scott Luton (00:54:22):
Yep. Well, put a couple of comments from our audience here. Uh, Benjamin gold clang, of course. Uh, I think, I think Elon Musk tweeted, uh, uh, around the stock price and this is what a month or two ago. And we saw some of the movement. There is, it is, it is, you know, I’m stating the obvious here, but, uh, uh, whatever a tweet is at, it’s not 140 characters anymore, but it amazes me just what one tweet will do, whether it’s the markets, whether it’s international or national policy or you name it. Uh, it also is interesting to see just how often, you know, major news media is, you know, reports on tweets. Uh, very interesting times we live in good stuff there, Benjamin, uh, Sandy moon says, ouch, younger generations, where does it leave us? Uh, look, I think,
Greg White (00:55:15):
well, I probably, you said, well said I probably didn’t close the loop there because the point is that the generations that do value hard labor and, and physical work, they’re leaving the work population at the rate of 10,000 a day, at least in the States. And, and a lot of those jobs can be automated and should be automated. It’s more, it’s safer and more satisfying for the human being and it’s faster and less expensive for the employer. And if we had hoped to have any possibility of making up for the capacity that we will, we will definitely lose by moving even a portion of production out of China than we have to do it. So I think it’s actually a good thing. And the sandwich generation gen X, right, we’ve dealt with both ends of that spectrum. And we’ve been those reluctant, um, you know, Hey, Baylor’s w whatever you want to call it.
Greg White (00:56:14):
That’s, that’s what I did as a kid, bucking hay bales. Um, um, and we’ve, and we’ve been, you know, and we’ve had a computer since we were in fifth grade or whatever, probably, well, before that it’s so long ago, I can’t remember. So I think it, I think it does bode well, and I think we’ve got the right people coming in with a forward looking vision. Um, we’ve got the opportunity for, for people who, um, want to exit the workforce to do so. And for them to be replaced with automation that takes no one’s job away. So I think it’s, uh, it’s, uh, we’re in a good spot.
Scott Luton (00:56:49):
Change is going to happen. Uh, we’ve got to be part of that change because it’s going to provide opportunity if you, if you wrap your head around it, if you embrace it, if you, if you learn and better yourself and learn new skill sets, you’re going to benefit from the change, the some exciting changes taking place in industry. And it’s not just manufacturing. Of course, automation is, is, uh, changing and transforming the manufacturing jobs. That’s right. Yeah. Distribution fulfillment, warehousing, you name it, but, uh, nevertheless, Hey, memory, uh, great to have you with us here. Memory is in Johannesburg, South Africa, and, um, I’m checking out some of her memory, I’ve checking out some of your handiwork on Facebook, you and my wife, Amanda, have a lot of things in common, so great to have you here today, once again. So Don who we talked about in the front end, right? Don published a recent book, Don comments at Tesla space, X Hyperloop, the boring company, et cetera, all have one visionary and common Elon Musk, right? It’s great. Having him challenge us to be better in so many aspects. And he has obviously built a remarkable team to make all of these organizations achieve the milestones they have in each respective area with an amazing future ahead. Very neat. Very neat.
Greg White (00:58:06):
I’d love to have Elon Musk, Elon Musk on the show. Um, I can’t say that we’ll allow him to smoke a J, but because I think he, he is an insightful visionary visionaries are often borderline mad persons. So look, it ha it just is what it is. There’s nothing to be ashamed about. Right. They see the world in a different way. They see it with eyes wide open and they see the world as it can, and often how it should be Thomas Edison madman. Right. Uh, you know, it’s, it takes that to leap us into the future.
Scott Luton (00:58:44):
Yup. Alright. Yeah. So clay, I’ll, I’ll own a part of the team here important to note that I came into the industry right before the largest disruption.
Greg White (00:58:57):
Yes. And the moment. Yeah, that’s a good point.
Scott Luton (00:59:01):
All right. Good stuff there, clay. Uh, Stephen, good morning. I want to say Stephan was in Texas, maybe Dallas or Houston. Uh, Stephan was on livestream with us last week. Great to have you back Stephan. Um, and, and then Sandy moon to close the loop there. She says, absolutely never have opportunities to continue learning becomes. So, so available to everyone. Great point there, Sandy, as long as you’ve got an internet connection, right. As I’m learning painful, that’s all right this morning. No, but you know, that reminds me, uh, that, uh, as many of my poor jokes do remind me that there is a very meaningful, you know, um, I was reading earlier today about, uh, remote learning, especially in the, our school systems. Right. Um, and, and, and how they’re looking at 2020, the 20, 20, 21, 2020, and the 2021 school year, much like businesses are looking at what lies ahead as we were just talking about in the post pandemic area and how much of this remote working is going to stick.
Scott Luton (01:00:06):
Well, inevitably, a lot of it is going to stick because there’s not, not that that many organizations can necessarily have everyone work from home. That’s just probably not very realistic, especially in certain sectors like manufacturing, but inevitably a lot of it is going to make sense, especially to provide flexibility for it, their team members to, um, because as we’ve talked about, it’s gonna optimize in many cases the production, right. Because, uh, Greg, I think as, as you stated, if folks are working more, uh, you know, you don’t have that same two hours worth of commute time going and coming each day, you can convert that over into productivity.
Greg White (01:00:49):
Yeah. Well, you can, and maybe you should, maybe you shouldn’t do it all in the productivity. So you and I, um, we’ve worked remotely from home, whatever you want to call it for a long, long time. Right. Um, 20 years in my case. So it’s really natural for me. And, and it took some time to get really disciplined at it. I gotta tell you too, Scott, I think we got to encourage people to listen to what Amanda shared with us in the look back that we did. Yep. Yeah. Did we, did we release that Friday? We sure did that episode on Friday because I was surprised and I totally get it surprised by the conversation that she and Albert Perea Gallagher and the other ladies that show me 50 had in their lean in session and some of the findings, um, around work from home for mothers and professional women and mothers, um, and also, you know, her very open discussion around the difficulties, uh, of, of working from home and dealing with kids and husbands and, you know, whatever goes on at home and her analysis of how it has impacted the home and work was spot on.
Greg White (01:02:15):
I mean, wakening for me, frankly.
Scott Luton (01:02:17):
Well, I agree with you and she was remarkable as she always is. I’m a bit biased, but, um, but you know, what’s what is indisputable in arguable, and this will be something fascinating to look at and monitor in the months ahead, is that despite the initial, like with anything new, you know, you had a bunch of applications, folks were using, they were kind of used at wrong or using too much of it, or it just wasn’t a good fit. But ultimately for most organizations that the remote thing, they figured out the cadence and the approach and the format and how to optimize it. And then you saw some organizations really say, this is, this is outstanding. This is going to be transformational. So it’s going to be really interesting to watch, uh, the savviest business leaders, the ones that know that, not to overmedicate and they use zoom for every single thing, right.
Scott Luton (01:03:08):
Or other, other platforms out there and just make those appropriate tweaks and adjustments to so that the folks that really do well working in a remote environment can work in that environment and the folks that maybe want to mix. And they work from home a couple of days and they’re in the office, so they can take advantage of those cultural, um, uh, elements, you know, can, can do that. And phone conversations are so valuable, right? And then the folks that really want to be in an office somewhere, and that there may be less, there should be, there’s going to be less options for that, but it’d be really interesting to see these adjustments made uniquely for each different organization, because especially as you get larger, there’s going to be, you know, it’s gonna, it’s gonna take a really unique solution, right? Yeah. Yeah. I mean, it it’s going to be, there is no one solution, right.
Scott Luton (01:04:00):
Going to be 100% reassuring or near shoring to be 100% work from home though. If I worked in the Valley right now, I would be getting in my little motor home van on wheels and I would be getting the heck out of there. Right. Why, why pay Valley rents if, or, or mortgages if Twitter or Facebook or LinkedIn don’t require you to be there. Yes. Right. Go live in Montana or wherever you feel like living. And, you know, you might even have your salary adjusted for regionality. You’d still net more money in your pocket where you want to be now not everybody’s job is that way. Right. So, well, if you, if you can, you should I’m with ya. Uh, so thank you memory for bringing back that I didn’t make the point, the initial point I wanted to make when it comes to education.
Scott Luton (01:04:56):
So thank you very much for your comment because it’s bringing this back own the path here. Because as, as memory puts here, this pandemic is truly exposing the technology technological gaps within our society was surprised to learn that even here in America, there are places that still don’t have broadband digital gap will leave a lot of places playing catch up in quote. Uh, that is an outstanding point. And, and when I think about what we experienced with our three kids, and when I read about other school systems and that, and I re look at maps of where there’s huge pockets with no internet, regular internet connectivity, this is a huge challenge. We’re going to have to confront, uh, for a variety of different reasons, because you know, everyone’s on the playing field is certainly not level. And that’s just here in the States, of course, there’s there’s global, uh, dynamics when it comes to, you know, folks going without
Greg White (01:05:55):
right. Doubtedly well, five G is going to solve all that. Isn’t it?
Scott Luton (01:06:00):
I don’t know.
Greg White (01:06:01):
It’s not, of course, we’ve got to keep folks from burning the burden down the five G towers and stuff. I mean, five G is not going to solve that, but that the conscious construction and enhancement of infrastructure, um, it’s been made obvious in the States even where it’s relatively good, right. It’s been made obvious that it needs to be improved. If we want to be able to do this, we gotta tackle it. All right. One last comment. If the company was to help fund that, it would still cost them less than the real estate. It costs a year to host a person in, in an office building. So, yep.
Scott Luton (01:06:43):
Well put Greg, Hey, one last comment from our dear friend, Claudia Claudia freed, uh, with EAL EAL green global company, as she says, quote, global company market survey, 13,000 employees about returning to work and predominantly people are choosing to stay remote or only come to an office one or two times per month going forward input. That’s a great point, Claudia. And I love the data, right? The data is such an important element as these organizations try to figure out, um, you know, their North star of serving their customers while they’re equally as important North star one, be of serving their employees and our workforce and make sure that, you know, we, we can retain this top talent, so good stuff there. Right. Uh, and Steph, we’re not going to get to your question really appreciate that. We’re, we’re already over time, mainly due to my technological. Um, um, I think
Greg White (01:07:41):
we may have gone down a rabbit hole a little bit, but I think it’s okay. Clearly people wanted to talk about this, so it’s all right. I’m right. Absolutely. Here for is to help give people voice.
Scott Luton (01:07:52):
Yes. Yes. Well, I love that Greg give people the voice facilitate, can fuel fuel the dialogue and, and, uh, hopefully build some bridges globally. Alright. So along those lines, we want to invite all of our audience. Greg. We’ve got a really neat upcoming webinar with Tom Brennan with rootstock, right?
Greg White (01:08:11):
Yeah. So we were across the aisle from rootstock at mode X, which was the last time any of us have left the house. Um, and it was really interesting because there was nobody else in mode X. It was really interesting to have the discussion with them about what they do. And this is a, an ERP based on the Salesforce platform of real true cloud ERP. Um, and that’s exceedingly rare regardless of what you hear from marketing from any number of, of, uh, ERP vendors. And so I’m really interested to hear how that plays into this. And of course, Tom is just, he’s just a visionary in the industry anyway. So I wanna, I want to hear what, uh, post COVID-19 looks like right back to business doesn’t mean ERP or business as usual as we’ve just discussed. So it’s going to be really interesting to see how, um, he sees he sees work after, um, we’re all released.
Scott Luton (01:09:17):
Um, so join us for that free webinar. June 25th, Thursday, June 25th, you can join us by going to supply chain now radio.com, click on the webinars tab, and it’ll be right there. In fact, I think we included a direct link if you’re watching this via Facebook, YouTube, or LinkedIn, or, or really across any of the five platforms, we’ve got a direct link there. So, um, all right. So one, one other event that we don’t have booked per se, just yet, and this is going to be different panel. We’ve got our panel established, we just haven’t created the registration link. So a few months back, we, uh, uh, kicked off our standup and sound off programming. And that was meant really what Greg just said to give folks a voice, to give our audience an opportunity as much as, as we like to share what we think and our take, we want to hear from our audience and, and, and give them that platform while also having a panel that everyone should hear from and, and, and really help drive the dialogue.
Scott Luton (01:10:21):
Cause, you know, we’re at with a lot of these conversations, especially as meaningful conversations, like the discussion on race that we’re having and should have right now in industry, you know, we want to serve as a vessel, right? I wish I had more answers for that matter. I wish I had all the right questions I should be tracking answers down for, but while we can’t offer that all the answers in particular, we can help drive the conversation and give folks a voice to participate and learn all along the way as we do it. And you know, that cliche, Greg I’ll say in so many different takes on we’ll get through this together. And I get how a lot of folks think that is a cliche, however, where it’s not a cliche, at least in my mind is when it comes to the dialogue because it’s very difficult to solve huge, huge challenges that we’re trying to without having everybody at the table. Right. Cause it’s not just two sides, right?
Greg White (01:11:19):
Well, it’s not. And you know, the greatest civil rights activist ever that probably will ever live, but certainly that has lived in our time. Martin Luther King said, you have to engage everyone, right, friend, um, complacent, observer, or even enemy. You have to engage everyone in the dialogue in order to make progress. So, um, yeah, I just think more, more of these outlets are, are necessary.
Scott Luton (01:11:51):
Yup. Agreed. Especially, and you know, remotely as well as folks coming back, but some folks were still at home. Some folks are global, you know, we’re just going to try to provide as many convenient opportunities for faces and voices to be heard and perspective to be exchanged and uh, and then see where it takes us. So July 15th, it’ll be a 90 minute session. We’ve got an outstanding panel, three of the sharpest people in our network that folks are going to learn from and hear from. And, and, uh, I promise you, if you don’t have a couple of takeaways from this upcoming conversation, you’ve got to check your pulse. So July 15th say stay tuned for that. Um, one quick, uh, I think we got to a couple of questions or we didn’t get to a couple of questions that we wanted to get to what we’re looking for. Let’s go for pose. Well, pose those questions in the supply chain now insiders, which is a new group. Greg, tell us, tell us about
Greg White (01:12:45):
it’s supply chain now insider. So this is our, our LinkedIn group. Um, and we’ve already had some really fascinating, um, some really fascinating conversations in that. And some of the fascination I have is because it’s come from some of our newer folks at supply chain now. And, um, getting the perspective of folks new to supply chain or just learning supply chain are just about to launch their careers in supply chain is fascinating. It’s fascinating. The perspective, it’s an opportunity to engage with folks who are industry experts, who are completely new to the topic who are learning fast, right? And, and just share ideas and thoughts. Um, it’s not a pitch Fest. We’re really careful about that. Um, at the same time we want to, and we want your feedback, by the way, on this, we want to surface those companies that are doing great things and surface it from a solution, a discussion of, of the problem and the solution, regardless of whether it’s their solution that you use, but the problems in the solutions in supply chain. So, um, you know, join us. Uh, it’s been fun, right? I mean, it’s only been around for about a week,
Scott Luton (01:14:08):
check it out.
Greg White (01:14:09):
It’s been really, really active.
Scott Luton (01:14:11):
Greg White (01:14:12):
big thanks to Amanda and clay for making it happen. Uh, you know, we’re all going a bunch of different directions as we serve an industry that we could be at 24 hours a day and still not cover large swaths of where the industry is so big, thanks to Amanda and clay for making it happen. And also, uh, stay tuned because next Friday, we’re going to have a live stream with our two interns, which that doesn’t even do it. The word intern does not do it. I don’t want to talk, I don’t want to think of them as interns first, right care. They’re making it happen. Can we use their names? Yes.
Scott Luton (01:14:44):
Devin and Genoa. We may or may not be watching right now. They’ve got a bunch of different projects going on in their own right this summer, but they have,
Greg White (01:14:53):
she’s already proven to be a marketing and social media guru and Devin riddle, who is a wow data analyst idea, man, extraordinary. Both of them in our Friday meeting, just stop the presses with ideas, um, that were transformational. So, uh, not to mention clay, right? So we’re going to, we’re going to actually, and this is pro this might be the biggest draw for those of you who know us. Clay is going to actually be on camera sharing and asking questions on purpose. Not because somebody’s internet went down or not, because we want to hear what he thinks. And after having him say one word risk, I really want to hear right.
Scott Luton (01:15:46):
That’s right. Yes. And we’ve asked Stan by the way, because we’d know how, how much, how interesting clay and Amanda had for that matter. And they both have had standing invites. We got Amanda on a podcast for the first time and 370 some odd episodes last Friday, which enlightened us all. And now we get to hear from clay and Genoa and Devin. I mean, this is going to be a great, and I think our audience will enjoy it as much as Greg and I have enjoyed it kind of behind the scenes. So, alright. Uh, and sorry, we’re going over here, folks, but, uh, too much to cover here. Want to give a quick shout out very quick. Our supply chain trivia challenge number three, our Eastern hemisphere edition was last week with the great folks over at st. Pics. We’ve got our top 10 list. Hey, we’re working on badges for top 10 finishers. So that something kind of lingers that shows just something visual, something digital. So a big congrats to Andrea Black thorn who came in first place through after a three way tie with her Daniel mutual, her and Coby Clasher. Who’s our previous winner, but then the top 10 rounds out from hurry day, Benjamin who’s on this livestream came in, uh, number five, excellent job there, sleepy Kyle Mathias, Ralf and [inaudible].
Scott Luton (01:17:07):
So that is our top global top 10 folks from, uh, well, just around the world, all have an affinity and an expertise in supply chain, spot to management. So great to have all of you all there. Finally, Greg, and finally
Greg White (01:17:25):
a lot of people out there saying finally, right?
Scott Luton (01:17:27):
Yeah. Finally wrapping up. Yeah, they’re kidding. Hey, it’s too much going on this Monday
Greg White (01:17:33):
a lot. There is a lot. I don’t know if everyone else feels it, but I feel it here tonight.
Scott Luton (01:17:41):
Yeah. And it’s a mix, right? You got some, you got some, um, uniquely generational, if not beyond generational challenges that we’re going to be going through a reckoning with some, some big adjustments that will be made change that needs to happen. So we’re going through that while going through a global pandemic while going through a time where supply chain in and of itself has been going through big transformations, like digitization of other things, remote working. Um, so you’ve got all those big issues while you’ve got no shortage of, of industry news and, and, uh, developments and, and Newsmakers and leaders that are challenging and taking different components of the Indian supply chain. The new to new Heights, right.
Greg White (01:18:31):
World goes on, right. For any of this, some of these, some of these will be pivotal moments in history, right? Some of these, um, you know, they may not seem as big in the future as they do now. Some will be pivotal clearly, you know, this situation with, with racial divide and that sort of thing. We’ve got to do something. Yes. Right. Um, and, and of course we all have to work in the meantime, right. So, um, you know, the world goes on and you, you better be ready to juggle because you’re going to be juggling your everyday tasks. And you’re going to be juggling some pivotal, crucial moments in history, ma maybe in, just in your life. But, but certainly you’re going to have to deal with both,
Scott Luton (01:19:25):
you know, and I’ll take it a step further. You better be ready to have some very uncomfortable and awkward conversations because that’s the only way that we can drive change and get to the root. You know, if we’re known for anything as supply chain professionals, it’s getting the root cause. And we’ve got to be honest with ourselves and our neighbors and our colleagues and, and you know, all the shareholders at the table, you know, because again, it’s not binary, it’s not two sides. It goes far beyond that. So, uh, thanks for being a part of the journey with us. We greatly appreciate all the comments and questions eat. Y’all don’t know how much that means, uh, for, to Greg and, and me and the, and the rest of the team here. I’m sorry. We couldn’t get to everything. Looking forward to everybody popping into the supply chain insiders supply chain. Now inside of the group from Tom, the Tom. And if you can’t find something you’re looking for supply chain now, radio.com. You can also shoot Amanda a note email@example.com. And with all that, uh, Greg, I’ll give you the last word before I sign off.
Greg White (01:20:28):
Okay. Um, as I’ve done to you in the past, I’m going to give one word, but Stephan Mao, um, I’m expecting you to sign up for supply chain insiders, but the word is yes. To answer your question. Um, um, look, I, I am, I don’t know that it, it feels, I feel the energy in our audience today and, and it feels like people have sort of theirs. They’re getting out, whether they’re getting out to protest or they’re getting out to get to work, um, or they’re getting out to get some airtime, some, you know, some fresh air or, or exercise we’ve been excited, invited by the way to two different exercise events, Don long, um, wants us to go on a hike of Kennesaw mountain. Um, and, uh, mr. Gold playing of course, uh, probably taking a nap now, as he said, he was about to, but made his run, uh, this morning as well.
Greg White (01:21:30):
But look, um, it’s a time of great change, drink it in, right. Um, do it as objectively and non-judgmentally, and as introspectively of yourself as you can, I would encourage everyone to continue to read, um, Martin Luther King people like Stephen Covey, people who are, uh, about, um, changing your being rather than changing your environment. The best way to change the outside is to change from the inside as Mahatma Gandhi, which by the way, I misspelled on my manifesto the other day, how embarrassing, um, this is a paraphrase, but be the change you want to see in the world, if it starts with you, it will emanate to the rest of the world.
Scott Luton (01:22:26):
Yup. Excellent message. Wrap up on, uh, to our audience. Thanks so much for your time. Thank you to our sponsor peach tree, uh, commercial capital. You can check them firstname.lastname@example.org. Rob, what a great resource he would be. I mean, even just to pick up the phone or shoot him an email and just have the conversation. I love folks that take that approach. So really big thanks to their, uh, the peach street team for, for helping us make the buzz happen today. Thanks to Rob in particular to our audience. Um, all of that, what Greg just shared that I couldn’t imagine a better way of wrapping up today’s episode. Thanks so much to all the folks that tuned in and shared their perspective, ask their questions or you name it. We enjoy all of that. Um, there’s certainly some very difficult days and weeks and months ahead. No doubt about it, but, um, Siki first understand, look ways the meaningful meaningfully build those bridges while taking the steps that are necessary to make the change that will be necessary as long overdue. And, uh, with all that said, there are much brighter days ahead for everyone involved. We look forward to y’all checking us out on supply chain. Now in a days and weeks and months to come, Scott Luton, Greg white things, our body, we will see you later this week. Real peace.
Would you rather watch the show in action? Watch as Scott and Greg welcome Rob Lopez to Supply Chain Now through our YouTube channel.
Rob Lopez is responsible for developing new profitable financial relationships with businesses, the business owners, and the key executives in accordance with client goals for Peach Tree Commercial Capital. He proactively looks to expand client base by cultivating referral relationships with centers of influence, prospecting, networking, and target marketing clients/prospects in accordance with company marketing standards and building a nationwide book of business. He provides education to clients and create cross-sell opportunities on Commercial Real Estate Loans, Asset-Based Financing, Working Capital Lines of Credit, Purchase Order and Inventory Financing, Accounts Receivable Financing, Equipment Financing, and SBA Loans. He reviews, processes, and prepares documentation for new accounts and loans and ensure that it is complete and in compliance with lender requirements.
Rob graduated from Georgia Tech with an M.S. in Quantitative and Computational Finance and a B.S. in Applied Mathematics.
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