Episode Transcript
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Speaker 1 (00:10):
Whoever you are watching, wherever you're listening, a big old
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So, oh my god, when did this become?
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I don't know.
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Well, all the great this is my sister's last fiance.
Speaker 3 (00:41):
All the great ones have a sign off, thank yous,
and and.
Speaker 4 (00:47):
Of course to sign on is welcome to our family
stick pretty much.
Speaker 2 (00:55):
One hundred twenty five million TV. How's strong in the US?
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Of course we're Wow TV and American Life Network, and
of course Nacon White Coast and goes on radio and
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and all the ship's stopping at Boomberg off that cero,
and of course Bloombert coming.
Speaker 2 (01:08):
Up sometime after I retire from television. What do we
got in the air today, buddy?
Speaker 1 (01:13):
Mister Dan Yets is the CEO of Endeavor Bank. Of course,
their ticker symbol is E d v R. And for
the record, my family tree is a wreath, not a stick.
Welcome to the show.
Speaker 5 (01:24):
Thank you.
Speaker 2 (01:24):
What's up?
Speaker 1 (01:25):
So what's going on?
Speaker 3 (01:26):
There's no branches on that you and.
Speaker 2 (01:28):
Mike texted me say hey, I can't come tonight. I'm
watching Game of Thongs. I knew it was a problem.
Speaker 1 (01:35):
How does this show digress?
Speaker 4 (01:36):
So because Mike hasn't had his phone, us and Baco
bits today the apologize.
Speaker 3 (01:43):
That's a matter of perspective, by the way, some would
say it has progressed.
Speaker 2 (01:48):
Because Dan's here. It's high bar.
Speaker 1 (01:49):
Now can I and welcome to the show.
Speaker 2 (01:51):
Welcome to show. Let's talk about Endeavor Bank.
Speaker 4 (01:55):
You guys ranked top five in the nation for the
most PPP loans relatively your bank size.
Speaker 5 (02:02):
Now I'm story recovering from.
Speaker 4 (02:04):
Well I was gonna say, because I was gonna say,
that is as much a function of money as a
function of execution stamina.
Speaker 5 (02:10):
Twenty hour days.
Speaker 4 (02:11):
This is like saying to everybody, yeah, wow, come here
for your free money. Just fill out an app good
and suddenly you had regular clients, you had regular underwriting,
you had regular investments, you had regular meetings, and then
you had to line out all the way to.
Speaker 5 (02:24):
Yuma PTSD is what comes to mind. Oh my god, Wow,
that was a day that it seemed like every business
in America need a loan at the same exact time,
and it was panic. I remember pushing through those loans
at two or three in the morning, and you think
everyone was asleep. You'd hit Sin to tell them they
got the loan approved, and they're on the phone calling
(02:45):
you saying thank you, wow. And it wasn't so much
like a typical loan. It was gratitude with tears, say
you just saved my business. So it was humbling.
Speaker 2 (02:54):
Was there?
Speaker 4 (02:54):
I've always wondered this and you don't have to get
specific about it because of your SEIO of a public company.
Speaker 2 (02:57):
Was there a business model inside of that? Was that?
Speaker 3 (03:00):
Was that?
Speaker 2 (03:02):
So for you guys it was profitable.
Speaker 5 (03:05):
It ended up being very profitable, ten million to the
bottom line.
Speaker 2 (03:08):
So how did that work?
Speaker 4 (03:09):
Because were you getting fees from the government to process
Obviously it was a nominal.
Speaker 5 (03:13):
Fee because yeah, and it was inversely related, so a
little smaller the loan, the more you made five percent.
The interesting thing is you were building the model while
the government was changing the rules day by day.
Speaker 1 (03:26):
Yeah.
Speaker 5 (03:26):
So I would spend my mornings on podcasts educating the
business world how to apply and what the rules of
the road were. At night, I would read the new rules,
which made my podcast obsolete by the next day.
Speaker 4 (03:39):
Can I tell you as a as a studio owner,
a business owner, I didn't take any PPV money, and
I regret it at the time. Yeah, And I'd go
back and realize that that's probably the probably better for
the businesses that didn't need it not to take it.
Cause when you started thinking about remember the company called
it was a it was a restaurant group called Lemonade,
(04:00):
or no shick shack shackshack took and what And I
remember having businesses could try to come on there and
talk about it that they got denied because the allocation
for money had been taken by some of the biggest
companies that may not have needed it. Now, let's not
jump to conclusions. There were some payrolls that had to
be met. Some of those companies employ a lot more
people than some of these smaller did not knowing what
(04:21):
you don't know at the time. If you were to
change based on your knowledge now how it was done,
what are the top three things you would have changed
back then in terms of how the government handled.
Speaker 5 (04:31):
I would have set up the funny mechanism before the
Treasure Secretary went online and said, all you have to
do is walk into a bank and in five minutes
you walk out with money.
Speaker 2 (04:41):
That's like yelling fire at a theater.
Speaker 5 (04:43):
Yeah, right, there was no truth to that. It was triage.
If you remember, they ran out of oxygen units in
hospitals at the same time you ran out of PPP funding.
So we were allocating as an industry, who was going
to get those loans.
Speaker 2 (04:58):
Hence the trioge.
Speaker 5 (04:59):
You you had a triation.
Speaker 4 (05:01):
Unbelievable, And of course what you're talking about is you
had to prioritize.
Speaker 5 (05:04):
Yeah, we were hiring college interns who were sequestered at home,
as the term was called, trying to figure out how
we're going to fund loans with limited deposits. A week later,
the Treasury set up the funny mechanism. But before that
you were you were out of money as a bank,
and so the large banks were doing it based on
(05:24):
divisions and most important clients. They got a bad wrap
for that. Community banks kind of stepped up.
Speaker 4 (05:30):
They hammering you guys for reserves at that point because
you know, at the same time you're out of money, right, don't.
Speaker 5 (05:36):
Let sword for you guys, it was terrible. If you
can't fund the loan, you lose the client. So you
have an obligation to take care of your clients. At
the same time, people were trying to change banks to
get the loans, and at the.
Speaker 4 (05:47):
Same time you're fighting your own reserves to keep you,
to keep the underwriters happy for the bank regulators at
the same time, right not.
Speaker 5 (05:53):
To mention or less than a year old. So for
oh yeah, we opened in twenty eighteen. I think it
was around twenty twenty when they set that up.
Speaker 1 (06:01):
Dan y Hs is the CEO of Endeavor Bank. There
ticker symbol ed v R. Who's the gatekeeper on all this?
For the near duells? And the people are thinking, I'll
get a quick buck. I'm going to try to get
one of these pe people or was there any Yeah,
it was none.
Speaker 4 (06:15):
Could you smell a fish at sometimes every once in
a while because you I'm look at You've been thinking
for a long time and you know you know to trust,
but verify.
Speaker 2 (06:22):
I get that in your personality. I know about you.
I know I've got you.
Speaker 5 (06:24):
I discovered a fraud within the first thirty days and
reported it and the person went to jail, so it
was it was easy to spot.
Speaker 4 (06:32):
Well, I mean this is like this is like price
couching in the middle of a disaster, when somebody's trying
to steal money at the expense of somebody else. Actually,
I think in terms of security, like Mike brings up
any major changes if this happened again that you that
you would install in terms of metrics right away.
Speaker 5 (06:52):
I mean, the thing is it actually ended up working well.
At the end the second round, companies who qualified received
a loan. We had excess funds at the end the
first round. We were out of money in ten days.
So Congress didn't allocated enough money. They didn't understand the demand.
Who would be applying. Nonprofits missed out in the first
(07:14):
round schedule see employees missed out because if they didn't
show a profit on schedule see which who does most
schedule see trying to show a loss, they didn't qualify.
So they changed the rules to really figure out who
really needed the loans.
Speaker 1 (07:29):
Dan Yate's CEO dvor Bank and of course their Tickerson
well eDV R. So happy to have you at the
bar here with this one.
Speaker 5 (07:35):
Thank you.
Speaker 4 (07:35):
I have a question, so let's let's look at the
other side of the counter, and that was stimulus. Okay, right,
so not for the businesses but for your customers. Yeah,
what did that look like as as a bank president seeing, okay,
we're taking care of the business as best we can
since the government gave us a damn with a huge
leak in it to start off with. On the PPP side,
here we have a ton of liquidity coming into this country.
(07:57):
And if you know, you go back to nineteen forty,
every time there's liquidity, interest rates follow, liquidity interest rates follow,
you put you pumped.
Speaker 2 (08:05):
That money in the system.
Speaker 4 (08:07):
As a banker and as a venture capital guy talking
to bankers, I know how you think there had to
be a point in stimulus number two or Semius number
three where you knew the shoe was.
Speaker 2 (08:17):
Going to drop at some point.
Speaker 4 (08:18):
What did you see on the consumer side to start
and what did you see as it went along there
that made you sort of say, I want to go
on vacation for a little bit now.
Speaker 5 (08:25):
So the biggest concern we saw as in industry is
excess liquidity. It got to the point where you couldn't
figure out what to do with those funds as they
show up in your bank. As quickly as that occurred,
the opposite occurred, and we had trillions leave the banking
industry into treasuries and money market funds. But during those
early days, for you guys, well think about the banks
(08:46):
that failed and you go back. Let's just take Silicon Valley.
They had excess liquidity. So what do they do? They
put it out into long term bonds because they really
didn't understand.
Speaker 4 (08:56):
If the interest rate went the other way, the bond
markets inverse relationship.
Speaker 2 (08:59):
Now they don't have very.
Speaker 5 (09:00):
All you have is history. Go on, you have deposits
that are now sticking around less than you're used to,
and you make investment decisions in your portfolio that aren't
based on any historical data.
Speaker 2 (09:13):
Well, and you nailed it.
Speaker 4 (09:14):
And and that's exactly right because I believe, Okay, if
you look at the Great Recession, or as I like
to call it from equity, the Great Correction, the you
know what happened there was we had the derivative market,
We had credit of fault swaps, and really were we
were we were making counterfeit shares out of nothing. We'd
sell paper and then we'd sell paper on the paper
and then take a commission right and then take another commission.
Speaker 2 (09:35):
Next to you know, it's so deludive.
Speaker 4 (09:36):
And I will tell I will still tell you the
biggest danger in this country is the derivatives market to
this day. If you look at the other side of
the fence in terms of in terms of that banking
crisis going forward, in terms of in terms of liquidity
and over liquidity. Interest rates killed the consumer, just like
the Great Recession killed the equity holder, don't you think?
(09:57):
And was that because of liquidity? Is that because we
pumped too much money in too fast?
Speaker 2 (10:01):
Do you think?
Speaker 5 (10:01):
I think it had a lot to do with that.
When rates went up, most business owners put off their
plans to invest in capital, equipment, infrastructure, and there was
a big waiting period and so loan demand shrink. Banks
are sitting on too much cash. All you can do
is put out in the bonds at some point, and
it created disruption in most banks across the nation.
Speaker 2 (10:23):
I got five words for you. How are you still standing?
Speaker 1 (10:27):
Yeah?
Speaker 4 (10:28):
Coming back after the break, we're talking about your actual
business here for a second. Thanks for giving us top
down and Devor bank Dan yehe CEO stocks that.
Speaker 2 (10:34):
Will eDV R. We'll talk about being the CEO of
a public trader company. I'll STI, we'll talk about.
Speaker 4 (10:38):
What you're doing these days, because you were ranked first
in California, fifteenth in the nation by Semi Resource, named
the S and p's top performing bank, top Premium bank.
Speaker 2 (10:47):
I'll think what all that means.
Speaker 4 (10:49):
This is the second Big BIS show, Bigbyshow, dot Com,
hundred twenty five million TV home strong and.
Speaker 2 (10:52):
Of course American forces networked in one hundred and seventy
five countries and all the ships see we'll see a.
Speaker 1 (10:56):
Minute we continue if the locker one hundred studio Big
this show. Hope everybody's having a great day. Is always
thank you for tuning in here at the bar, Costa,
Marryban Godwin, Greg Tatarov our Executi producer, and Sully.
Speaker 4 (11:15):
I still say my head every time we stay here
at the bar because when we started resting nails and
I started to go almost thirty somebody years ago, Mama
Wall Street Journal called us business with the barroom slant.
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Nothing wrong with in the bar. We're brought to you
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I did forget pair of guitars right here in San Diego, California.
Speaker 2 (11:55):
Dan Yets is our guests, He's our CEO of Endeavor bankh.
Speaker 4 (11:59):
Ticker simple edb are talk about what it means that
a five star ranking with Bauer Financial since twenty twenty one.
This is a inside baseball sort of thing for the
rest of the world, but this is a big deal.
Speaker 2 (12:11):
Talk about that.
Speaker 5 (12:12):
Well, the banking regulators give us what's called a camel's rating,
which no one is allowed to legally ever talk about.
So Bowers is equivalent of that. It's as closest you
can get to really understanding how a bank is being run.
For the metrics. The camel's rating is your capital, how
much capital you have, your earnings, the management quality, your liquidity,
(12:33):
and basically how you handle risks.
Speaker 2 (12:34):
It makes you.
Speaker 4 (12:35):
It makes you more sympathetic with your people that are
filling out applications, doesn't it.
Speaker 2 (12:40):
Yeah, because they're because they're scrutinizing you the way you
have to scrutinize the customers.
Speaker 5 (12:43):
Think of a restaurant. Would you walk into a restaurant
that had a B or C? Well, hopefully not.
Speaker 2 (12:51):
If it was a bar, maybe, Mike right, Yeah.
Speaker 4 (12:54):
Can you talk to me about how the banking business
in terms of endeavor has changed since the day the
day it started and now because it's there's been a
paradigm shifter a little bit, and how banking has been
done because of regulation, because of the government, because of economy.
How about you, guys, Are you guys still standing steadfast
on the original principles or have things change?
Speaker 2 (13:13):
Have you had to change because of technology?
Speaker 5 (13:14):
I mean we are. We're fully into working on AI
right now and that is changing everything.
Speaker 2 (13:20):
How is that for underwriting? How would AI help a bank?
Speaker 5 (13:22):
Everything from the workflows, how you automate them, how softwores
talk to each other, eliminating errors.
Speaker 2 (13:29):
Could you, guys get you more lonely? When is the
last time you walked into a bank this morning? What
hold on Midwest.
Speaker 4 (13:41):
You remember you remember when walking on a Friday? Are
you walking with doors?
Speaker 2 (13:46):
All? You sit down?
Speaker 5 (13:48):
Those days are gone.
Speaker 1 (13:51):
No more free toasters.
Speaker 2 (13:53):
No, why don't you just deposit it on a mobile app?
Speaker 6 (13:55):
I'll tell you why.
Speaker 3 (13:55):
Okay, this would be can you take me back to
a gentler? So there was a time when you could
do it on the mobile app?
Speaker 1 (14:03):
Who on it?
Speaker 7 (14:06):
This is?
Speaker 3 (14:06):
This is for corporate accounts, okay, so bring If you
take it in to a brick and mortar, there's no hold.
Speaker 1 (14:13):
But if you use the digital oh, this is for
the business.
Speaker 5 (14:17):
You're the wrong bank. Well a good thing, I know something,
just say it.
Speaker 1 (14:25):
But Dan, to that point, how you know is it?
Is it word of mouth? Like, Hey, I've been with Endeavor?
You guys they are kicking you should be with Endeavor
as well.
Speaker 2 (14:33):
Pretty sure that's their tagline.
Speaker 1 (14:35):
Sorry, but I'm just saying, as far as you know,
people still have a choice as far as financial institutions.
Is it just your reputation and the fact that so
many people when people ask say, yeah, I'm with Endeavor.
Speaker 5 (14:48):
I mean, most of our clients are here because of
our shareholders. They're business owners in town, so they refer
clients to us. But the hold, I mean, that's you
have to know your client. Sure you put a hold
on it. If you don't know the clients.
Speaker 4 (15:01):
If he puts a check in from Briggs Tequila Company,
well maybe it is.
Speaker 3 (15:06):
It is a national bank, and it's a situation of
when you go through the mobile app, it's handled at
a different level. But if you go into the brick
and the local bank, they know you and.
Speaker 2 (15:17):
There's a question there you talk about AI.
Speaker 4 (15:19):
Okay, Now what I was getting to is when I
was in college, I could write a twenty dollars check
for groceries on Monday, go buy groceries and they would
clear on Thursday. And it was By the way, that's
a felony. It's called kiding a check. You're not allowed
to do that, but everybody did it. There is no float, period,
there's all digital banking.
Speaker 5 (15:38):
To Marry's point, there's a sin float, but not real flop.
Speaker 2 (15:40):
But how much faster can you get? How much more?
Speaker 4 (15:44):
Because I would say banking is so efficient now because
if I I can't remember the time my lesson I
wrote a check, but if I write a check, blog
in the next morning that checks clear.
Speaker 1 (15:55):
Sometimes it's the same afternoon.
Speaker 4 (15:58):
How much more efficient can you guys get with banking
in terms of I mean everything's almost in real time now.
Speaker 5 (16:03):
Real time float now, I mean it's clarity immediately.
Speaker 2 (16:05):
So is AI gonna helping and that are you? Is
it helping?
Speaker 7 (16:08):
No?
Speaker 5 (16:09):
Okay, No, it's it's more. It starts with the internal
efficiency of how we do everything from underwriting loans to
sending up proposals, onboarding new clients, which are complicated if
it's a sophisticated company. So all of that you're trying
to streamline and improve the client experience with AI and workflows,
automation tools. I mean, it's across the board.
Speaker 4 (16:29):
With endeavor in the Bower Financial and of course you've
got all these other awards going forward, you have film
reforest type of first place. You guys are as solid
as probably more solid than the big banks.
Speaker 2 (16:41):
Are you. Are you considered a regional bank at this point?
Speaker 5 (16:46):
Are you considered I would say technically yes, because we're
now in Los Angeles as well San Diego. But I
think of us as a local community bank.
Speaker 4 (16:55):
And I think and I think that's where the that's
where the disconnect is, isn't it.
Speaker 2 (16:59):
Yeah, because I can tell you.
Speaker 4 (17:02):
Regional banks, I think saved a lot of businesses, but
local community banks to create relationships still are are critical
and I think I think that they almost went the
way of the DODO.
Speaker 5 (17:14):
The way I think of a local bank is the
executive team lives in the community, very involved on local boards,
filling the pulse of the leadership community. A regional bank,
typically you're not going to be as involved in every
single city that you're yes.
Speaker 4 (17:32):
Right, regional banks are you typically not based in the
city that you're in. What are you looking most forward
to here into twenty twenty five Now that it seems like,
you know, we've shut this economy off like a light switch.
Now it's coming back on like a sunrise. We're going
to get through it at some point. Interestrate, you're going
to stabilize at some point. At some point we're not
going to see the stag place that we were worried about.
(17:53):
You've got a number of things that are moving in
the right direction. I think tariffs are going to be
temporary and that's going to give a boost to the markets.
Stock market is not the economy only about forty three
percent YEA of the universe here in the states participate
in the stock market, one hundred percent of participate in
the economy.
Speaker 2 (18:09):
So what do you look at most forward to what's
the civiety.
Speaker 5 (18:12):
We refer to twenty twenty four as a slingshot, so
you think about how you pull a sling shot back.
That's investing in infrastructure. We increased our workforce by thirty percent.
A lot of production team members expanded to another geographic area.
LA twenty twenty five is when you see the fruits
of the labor. So, like all the slingshot launch, earnings
(18:34):
this year predicted to go up and it's exciting. This
should be a big growth year for the man.
Speaker 4 (18:39):
Any chance you guys grow in other parts of California?
Here are more locations.
Speaker 5 (18:43):
To hope not, I hope not. And last question once
every a couple of years enough for me.
Speaker 4 (18:49):
Last question, do you think you are better prepared now?
We're there to be another PPP oh heavens.
Speaker 5 (18:56):
Yeah, I'll figure it out. Yeah, Well, I wouldn't say
that the government can change.
Speaker 2 (19:00):
Look at you can. Dan, Will you come back and
see us sometimes.
Speaker 6 (19:04):
We loved you.
Speaker 1 (19:04):
He is Dan Yates, the CEO of Endeavor Bank Jet
black Hair. By the way, before COVID.
Speaker 2 (19:12):
Than we are. Let's much worn coming the Big Big Show.
Speaker 5 (19:20):
Thank you.
Speaker 8 (19:25):
H m hm.
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Big, big show boys are We are inside the loft
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And of course the man with the plan.
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Uh TV and radio.
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And I've got some news for you on distribution coming
up very shortly.
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The next week or so. But at meantime, who's Brian Cooker?
Speaker 5 (22:51):
Don't know?
Speaker 1 (22:51):
Let's find out all right, Brian Cooker is the CEO
of sun Opta there ticker symbols or stklu. What is
TSX for.
Speaker 2 (23:00):
Toronto Doc Exchange?
Speaker 1 (23:02):
That would be Canada Their ticker symbol up there is.
Speaker 2 (23:06):
Oh, why we.
Speaker 1 (23:07):
Welcome mister Cooker to the Big BIS Show for the
first time.
Speaker 2 (23:10):
Hey, mister Cooker, how are you.
Speaker 7 (23:13):
I'm doing great? Thanks so much for having me really appreciate.
Speaker 2 (23:15):
Oh, you have no idea what you got into. You're
not gonna thank us after a.
Speaker 7 (23:19):
That's probably true too.
Speaker 4 (23:21):
Hey, Uh, you know it's great when we get because
we're a show.
Speaker 2 (23:25):
It's so funny.
Speaker 4 (23:25):
This show has been on the air for almost thirty years,
and we start off in radio and it was called
it was called the Big Ass Biz Show when it
first started, Big.
Speaker 2 (23:35):
Big Ass Show, you just swore on national TV. So well,
we were on radio at the time, okay, and then.
Speaker 4 (23:41):
Uh, the program directory said, hey, we gotta tell you
I can take the asked out of it. Such a
big BIS show and it's so funny that's morphed into
something where it's political it's about music.
Speaker 2 (23:54):
It is loosely based around business at this point.
Speaker 4 (23:57):
So when we get an actual public traded company or
a business to actually interview is fantastic. One of the shareholders,
I believe, contacted Greg targrapher execuive producer, and said, you
guys got to talk to this company with the stock
symbol STKL, all right, and they are in the business
of sustainable manufacturing, fueling the future of food. I think
(24:19):
what's fueling the future of food is funions and baco
bits and not enough of it.
Speaker 2 (24:26):
I'm not enough mayo for dipping.
Speaker 1 (24:27):
I'm doing my part. I'm trying to do my part.
Speaker 4 (24:29):
Brian, I conducted some due diligence on you. This is
a really cool company, and you guys at the right
place at the right time. Talk about what you guys
do for.
Speaker 2 (24:35):
Us, would you.
Speaker 8 (24:37):
I'm so excited about it. We are a private label
and co manufacturing solutions provider in a better for you
food space.
Speaker 7 (24:47):
So we make.
Speaker 8 (24:50):
Private label plant based beverages, oak milk, callmon milk, soy milk.
We might do a little bit of broth for someone.
We might do some tea. We have some better for
you healthy fruit snacks, but it's all about supplying a
solution to supply chain challenges that our customers have. And frankly,
that's where our growth comes from. We just want our
customers to win.
Speaker 2 (25:11):
Right is this is this what we would call what
do they call that?
Speaker 7 (25:18):
Tasting?
Speaker 2 (25:22):
Brands come to you to manufacture how it works and
the white labels that was called.
Speaker 7 (25:28):
One hundred percent.
Speaker 8 (25:29):
So brands will come to us, we'll make it in
their brand, we'll make it for a store brand. But again,
our job is to solve their supply chain problem. They
might need a better taste profile, they might need protein
infused in their product, they might.
Speaker 7 (25:44):
Need better availability across the US, and and that's what
we aim to provide for.
Speaker 2 (25:50):
Mike does that does does funnus neither different or better
taste profile.
Speaker 1 (25:54):
It's fortuitous that mister Cooker's on the show because I
was literally thinking about that driving up here. Do my
funions taste the best that they should?
Speaker 8 (26:03):
Brian, you are not gonna believe in the innovation pipeline.
Right now we have Funion flavored almond milk.
Speaker 2 (26:15):
It's coming tomorrow, Brian.
Speaker 1 (26:18):
I can only take so much greatness.
Speaker 2 (26:19):
I'm sorry, Oh my god, thank you so much, sir.
Speaker 1 (26:23):
How but in all seriousness, do you is there a
certain point where you've got to kind of give people
the heisman and say, eh, we really don't want to
do that because it doesn't fit our I guess profile of.
Speaker 4 (26:36):
Nutrition or what we want to be parking, or your
best practice is knowledge knows that they're walking into a
headwind because they want to make funion flavored oak milk.
Speaker 7 (26:44):
Yeah, exactly, I may have lost the customer.
Speaker 4 (26:47):
Now you want you watch next month? You watch next month.
This damn company is gonna have funion bacon bit and.
Speaker 3 (26:56):
Send you.
Speaker 2 (27:00):
Even on this for a while. I mean, you've got
to have you know, I love.
Speaker 4 (27:03):
The fact when people think they're creative, but they're better
business people than they are creative, and you're the creative
guys and business guys when.
Speaker 2 (27:08):
They come up with it. Mike's got a great point there.
Speaker 4 (27:11):
How do you kind of how do you kind of
regulate best practices with bad ideas with what you think
your own brand's going to fit with.
Speaker 7 (27:21):
Yeah, well, the.
Speaker 8 (27:22):
Good news is we really are trying to solve a
challenge for our customers. They often do the market research
and let's just stick with the theme. If funion based
almond milk was the next best thing.
Speaker 7 (27:36):
We would try to help.
Speaker 2 (27:38):
Them with that.
Speaker 8 (27:38):
We've got foods twenty one food scientists who work on
all taste profile and nutritional content, even packaging size that
might be able to help.
Speaker 7 (27:47):
So we'd give it a run. I think a couple
of things that we run into.
Speaker 8 (27:51):
If it's only Mike who's buying the funion sized Punion's
flavored milk, that might be a little too small for us.
Speaker 12 (27:59):
I don't know.
Speaker 4 (28:00):
You've seen the size of the guy. Well, it looks
like a small farm town over there.
Speaker 7 (28:03):
To me, that's true.
Speaker 8 (28:05):
But you know, for the most part, we are trying
to follow the consumer trends and if bacon bits oat milk.
Speaker 7 (28:13):
Is the next surprise here, then we'd be all over.
Speaker 2 (28:16):
Hey, let's talk about the company real quick.
Speaker 4 (28:18):
I know I'm hijacking Ray for one second, but you
have twel hundred employees geographically where you got to talk
about geographic footprint a little bit before.
Speaker 8 (28:25):
North America for a sales footprint, mostly US for a
manufacturing footprint. We do have a small plant in Niagara, Canada.
About a thousand of those employees are in the plant
working every day twenty four seven operation, and man, I
love our organization.
Speaker 7 (28:43):
They're they're super bright, they're receptive to coaching.
Speaker 8 (28:47):
We coach hard. We try to just get better, a
little bit better each and every day. You know, my
dad told me a long time ago that I.
Speaker 7 (28:54):
Wasn't smart enough to make it real complex.
Speaker 8 (28:56):
So I just try to be better today than I
was yesterday, better tomorrow than I am to day.
Speaker 2 (29:00):
Let me went up here, Brian, my dad told me
abou yesterday.
Speaker 7 (29:04):
So watch.
Speaker 8 (29:05):
Hey, here's the other thing my dad told me. And
I don't know why he keeps reminding me of this,
but he told me I have a face for Rady.
Speaker 2 (29:10):
Yes my birthday re three four. Maria's a question.
Speaker 4 (29:16):
You have seven and twenty four billion dollars or million
dollars in sales est year. I want to kill you
to kick us down fifty K a month for me
to say brought to you by Sonata.
Speaker 8 (29:23):
Let mean, come on, oh, let me transfer you to
the Let me transfer you to the marketing department in
the meantime like.
Speaker 4 (29:30):
A great ceo. Yeah yeah, let me let me get
my assistant on that. Brian's it's on hold, says, Hey,
do we have an assistant. Brian Cooker is the CEO
of Sonapta, cooking up great things.
Speaker 1 (29:41):
For you world.
Speaker 2 (29:42):
Oh wow, marketing, Oh my god.
Speaker 1 (29:45):
Yeah, taken the symbols STKL and s O.
Speaker 9 (29:49):
Devin down here with a big biz show and today
we're going to talk about banks and failures. Now, two
things that you might find synonymous. Well, they go together
pretty well, but they used to go together.
Speaker 12 (29:58):
Better in the eighteen hundred.
Speaker 9 (30:00):
Then along came the creature from Jacko Island and the
JP Morgan meet up on the Secret Island. And then
for about a century you didn't really hear too much
about bank failure, But in the last year it's all
you hear about. I specifically think it's this guy's fault.
Speaker 11 (30:13):
So what the hell is going on?
Speaker 7 (30:14):
Howie?
Speaker 11 (30:15):
While I have nothing personally to do with that, Regional
smaller banks in the United States have had a tough
time for almost a year now, why Yeah. So when
you have smaller portfolios that can absorb losses, and you
have illiquid deals things that you can't just sell out
of and take a small hit on, you're stuck with
a bad deal, You're gonna have problems.
Speaker 9 (30:37):
Have you ever noticed that anything that happens bad to
a small community bank. Kind of sounds almost eerily similar
to some guy that's getting divorced and going through like
an alcoholic problem. He's selling himself off.
Speaker 1 (30:48):
He got dumbed. I have not heard that, but it
kind of works.
Speaker 9 (30:52):
Yes, yeah, so small community banks the next single alcoholic
step dads of our nation. More next week with Holle.
Speaker 11 (30:59):
They're actually in a cent part of the business community.
Speaker 1 (31:01):
But so is my drunk father.
Speaker 11 (31:07):
We're here at the twenty twenty four Bio International Conference
at the San Diego Convention Center, the world's most prominent
gathering of industry leaders across all of biotech.
Speaker 12 (31:21):
You're watching the big, big show, all right, So we're
here to do interviews. Why are we interviewing people here?
Speaker 11 (31:30):
Well, we're here to help showcase some of the most
innovative biotech companies on the planet that want to show
off a little bit and have agreed to do some
interviews just for the big Goose show.
Speaker 12 (31:41):
Nice biotech like blue shots and stuff. Yesum, Devin, that
is right, that is technically right. Sweet kind of my
candy new No.
Speaker 11 (31:53):
Only one today.
Speaker 12 (31:57):
Razi by Pfizer, because that's never scared anybody.
Speaker 11 (32:01):
We're at the theater area where companies are every fifteen
minutes coming on to do quick showcases with the latest
and greatest of what they have to offer. There's so
many companies that we have over ten theaters across a
four day event, every fifteen minutes, lots of showcases, lots
of sea.
Speaker 12 (32:20):
We're here with Steve Glover of zi Versa. We just
wanted to get a little update.
Speaker 11 (32:25):
Well he's he's a freaking guest on the show and
we're here at BIO Conference twenty twenty four.
Speaker 12 (32:31):
Yeah, it's great to be with you.
Speaker 2 (32:33):
Good see again. I appreciate Yeah, Bio. You know it's
a fun conference.
Speaker 13 (32:37):
Fall there's fifteen thousand or closest threads right definitely.
Speaker 12 (32:42):
Can you talk a little bit about what you're doing
here and what mis should I company us?
Speaker 8 (32:47):
Sure?
Speaker 13 (32:48):
So bio was a big event for all this as
a complicate and as an industry as well, because we
get a chance to lb and talk about the science
and the progress. You start your bus conversations around collaborations
year at the conference and then on the exhibit you
get a chance to see some new technologies that you
could use the developer product. So it's really kind of
(33:09):
a one stop shot, and it's not as you get
to see people from around the world. You know, people
from Japan or who we're meeting with people from Europe
as well, and it gives a chance for the industry
to kind of meet one spot. It's one of the
nicest things that bio developed about fifteen years ago. There's
a big exhibition over behind a left Shoulder ear and
there's probably close to four hundred companies here and those
(33:30):
companies are quickly meeting every thirty minutes, providing updates, talking
about areas of interest and pass forward and it really
sets up the entire year for you from a development
and partnery standpoint, and it's a great way that you know,
I just met with somebody that I've known for twenty
years and we're talking about you know, development and what
we're doing, and you know, those those relationships start at
(33:53):
a conference site.
Speaker 1 (33:54):
It's the traditional earliest form of viral marketing.
Speaker 11 (33:57):
So you have the entire industry coming together in one
spot talk to each other, to communicate with each other
and share their biggest breakthroughs of the year.
Speaker 12 (34:06):
So it really does tend to be where news is made.
Not to make yourself Devin, we're filming back to work too.
Speaker 1 (34:16):
Brian, what are the competitive advantages of Sanopta?
Speaker 7 (34:21):
Oh?
Speaker 8 (34:21):
I think really, when you're providing a solution for a customer,
you've got to be really good at service. So we
believe we're differentiated on service. And that may mean availability
of product. It may mean packaging styles. We've got a
really wide network in terms of packaging choices. It may
also mean that we have flexibility whether it's ot or
(34:42):
almon or soil.
Speaker 13 (34:45):
We can do all of that.
Speaker 8 (34:46):
I think the other area, and I mentioned this before,
the other competitive advantage is we have these twenty one
food scientists. Now I'm going to say this as affectionately
as I possibly can. These twenty one food science geeks
are unbelievable in supplying ideas, creativity, overcoming challenges that customers
(35:07):
have across the spectrum, and they're a very special part
of our argent.
Speaker 4 (35:11):
Say hey, Brian, I got to say, of course they are,
because you know, consumers under pressure.
Speaker 2 (35:18):
Price wise terrifies what your categories are growing.
Speaker 4 (35:21):
So I'm gonna have I'm gonna let you talk about that,
But I also got to talk about the revenue picture here,
because if we break down what you did in twenty
twenty four, and you know on the stock geek. I
went back and looked at your looked at every press release.
I went back and looked at any interview that you
said you were going to do what you did and
you actually delivered upon it. So I want to talk
about that for a second, and I also want to
talk about what you're thinking inasmuch as you can as
(35:42):
a CEO of public company for twenty twenty five. Before
we get to that, though, comment real fast and the
fact that you do have that team you just mentioned,
and the fact that we are facing headwinds as consumers,
but you're your categories are growing.
Speaker 2 (35:52):
What are you doing? I mean you that's something that
you got a tiebreaker there somewhere right.
Speaker 7 (35:57):
We're blessed in a couple of areas.
Speaker 8 (35:59):
One, the category are incredibly on trend, even plant based beverages.
There are some that are just fitness oriented. There's some
medicinal purposes. If you're lactose intolerant, you're going to choose
a plant based or a non milk product. The fruit
snacks is better for you. Do they have sugar in them?
(36:19):
Of course, it's sugar from apples. I think we can
live with sugar from apples. So a, we're on trend.
Speaker 7 (36:25):
But I think it gets back to us.
Speaker 8 (36:26):
We've got a singular mission with respect to customer centricity.
We want to solve our customer's problem. If they win,
we know we'll win in the long term because we
help them do that. And I think, combined with the
competitive advantages that Mary asked about earlier, I think that's
how we roll together. The growth has been really fantastic.
(36:48):
We benefit from categories that are growing, but we also
like to think or that we benefit because we come
to work every day, we put our hard hat on,
we try to do the best we can, and then
we wake up and do the same darn thing the
next morning. And to me, that's that's how you grow
a business.
Speaker 1 (37:04):
Brian Cooker is the CEO of son Opta. Their ticker
symbols STKL also s o Y. Brian final question, take
us through, uh those advantages as far as twenty twenty
four revenue, what you've got insight for twenty twenty five,
and more importantly, what's that path.
Speaker 4 (37:20):
Don't get us in trouble for talking about stuff you're
not supposed to know.
Speaker 2 (37:22):
Exactly what does the path I look like.
Speaker 8 (37:25):
I've got that, I've got that tattooed somewhere here that
I'm not going to stow you on live TV.
Speaker 2 (37:31):
Hey look, Mike, my cat Sendler's here. That's say let's
say you yeah, Lakota.
Speaker 8 (37:37):
So just to let you know, we're really excited about
the categories we operate in. Almost all of them are
growing at least five percent.
Speaker 7 (37:45):
Some even more so.
Speaker 8 (37:47):
We've we've guided to some long term growth rates that
are that are eight to ten percent and twenty twenty five.
Speaker 7 (37:53):
We're thinking growth, volume based growth.
Speaker 8 (37:55):
By the way, this is you know a lot of
the growth we're seeing today in consumer products is probably
we're in it.
Speaker 7 (38:00):
We're volume growth because the categoris are growing, our.
Speaker 8 (38:03):
Customers are growing inside of those categories, and we're here
to help them be successful. So I'm looking forward to
the growth in the seven and eleven percent range. And
subtly to your point, we guide to what we see,
not what we hope that happens. Well, Brian, because of that,
we deliver results.
Speaker 2 (38:20):
I was actually gonna say to you that hopium has
never been your strategy. I'm not kidding you.
Speaker 4 (38:24):
Guys have said what you're gonna do on your deliver buddy,
You got to come in studio.
Speaker 2 (38:27):
We need to have you back on a daily basis.
I'm not kidding.
Speaker 1 (38:30):
As soon as the fun your note milled kids to show,
got out there taste, Tester Man, take your simples. S
O y st k l it is son often CEO
is mister Brian Cooker.
Speaker 2 (38:41):
Brian, anybody come back on this show?
Speaker 1 (38:45):
All right, we will also promise to come back. Hey,
a lot more big B show coming your way.
Whoever you are watching, wherever you're listening, a big old
hottie to you as the big show rolls on.
Speaker 2 (00:17):
Wait, I'm gonna write this down.
Speaker 1 (00:22):
Yeah, hey, yeah, why.
Speaker 2 (00:27):
A body costa ver?
Speaker 1 (00:30):
Godwin, our jack produces Greg tater Off and of course
shattered up behind the bars.
Speaker 2 (00:36):
So, oh my god, when did this become?
Speaker 1 (00:38):
I don't know.
Speaker 2 (00:39):
Well, all the great this is my sister's last fiance.
Speaker 3 (00:41):
All the great ones have a sign off, thank yous,
and and.
Speaker 4 (00:47):
Of course to sign on is welcome to our family
stick pretty much.
Speaker 2 (00:55):
One hundred twenty five million TV. How's strong in the US?
Speaker 4 (00:57):
Of course we're Wow TV and American Life Network, and
of course Nacon White Coast and goes on radio and
American Forces Radio networking one hundred and seventy five countries,
and all the ship's stopping at Boomberg off that cero,
and of course Bloombert coming.
Speaker 2 (01:08):
Up sometime after I retire from television. What do we
got in the air today, buddy?
Speaker 1 (01:13):
Mister Dan Yets is the CEO of Endeavor Bank. Of course,
their ticker symbol is E d v R. And for
the record, my family tree is a wreath, not a stick.
Welcome to the show.
Speaker 5 (01:24):
Thank you.
Speaker 2 (01:24):
What's up?
Speaker 1 (01:25):
So what's going on?
Speaker 3 (01:26):
There's no branches on that you and.
Speaker 2 (01:28):
Mike texted me say hey, I can't come tonight. I'm
watching Game of Thongs. I knew it was a problem.
Speaker 1 (01:35):
How does this show digress?
Speaker 4 (01:36):
So because Mike hasn't had his phone, us and Baco
bits today the apologize.
Speaker 3 (01:43):
That's a matter of perspective, by the way, some would
say it has progressed.
Speaker 2 (01:48):
Because Dan's here. It's high bar.
Speaker 1 (01:49):
Now can I and welcome to the show.
Speaker 2 (01:51):
Welcome to show. Let's talk about Endeavor Bank.
Speaker 4 (01:55):
You guys ranked top five in the nation for the
most PPP loans relatively your bank size.
Speaker 5 (02:02):
Now I'm story recovering from.
Speaker 4 (02:04):
Well I was gonna say, because I was gonna say,
that is as much a function of money as a
function of execution stamina.
Speaker 5 (02:10):
Twenty hour days.
Speaker 4 (02:11):
This is like saying to everybody, yeah, wow, come here
for your free money. Just fill out an app good
and suddenly you had regular clients, you had regular underwriting,
you had regular investments, you had regular meetings, and then
you had to line out all the way to.
Speaker 5 (02:24):
Yuma PTSD is what comes to mind. Oh my god, Wow,
that was a day that it seemed like every business
in America need a loan at the same exact time,
and it was panic. I remember pushing through those loans
at two or three in the morning, and you think
everyone was asleep. You'd hit Sin to tell them they
got the loan approved, and they're on the phone calling
(02:45):
you saying thank you, wow. And it wasn't so much
like a typical loan. It was gratitude with tears, say
you just saved my business. So it was humbling.
Speaker 2 (02:54):
Was there?
Speaker 4 (02:54):
I've always wondered this and you don't have to get
specific about it because of your SEIO of a public company.
Speaker 2 (02:57):
Was there a business model inside of that? Was that?
Speaker 3 (03:00):
Was that?
Speaker 2 (03:02):
So for you guys it was profitable.
Speaker 5 (03:05):
It ended up being very profitable, ten million to the
bottom line.
Speaker 2 (03:08):
So how did that work?
Speaker 4 (03:09):
Because were you getting fees from the government to process
Obviously it was a nominal.
Speaker 5 (03:13):
Fee because yeah, and it was inversely related, so a
little smaller the loan, the more you made five percent.
The interesting thing is you were building the model while
the government was changing the rules day by day.
Speaker 1 (03:26):
Yeah.
Speaker 5 (03:26):
So I would spend my mornings on podcasts educating the
business world how to apply and what the rules of
the road were. At night, I would read the new rules,
which made my podcast obsolete by the next day.
Speaker 4 (03:39):
Can I tell you as a as a studio owner,
a business owner, I didn't take any PPV money, and
I regret it at the time. Yeah, And I'd go
back and realize that that's probably the probably better for
the businesses that didn't need it not to take it.
Cause when you started thinking about remember the company called
it was a it was a restaurant group called Lemonade,
(04:00):
or no shick shack shackshack took and what And I
remember having businesses could try to come on there and
talk about it that they got denied because the allocation
for money had been taken by some of the biggest
companies that may not have needed it. Now, let's not
jump to conclusions. There were some payrolls that had to
be met. Some of those companies employ a lot more
people than some of these smaller did not knowing what
(04:21):
you don't know at the time. If you were to
change based on your knowledge now how it was done,
what are the top three things you would have changed
back then in terms of how the government handled.
Speaker 5 (04:31):
I would have set up the funny mechanism before the
Treasure Secretary went online and said, all you have to
do is walk into a bank and in five minutes
you walk out with money.
Speaker 2 (04:41):
That's like yelling fire at a theater.
Speaker 5 (04:43):
Yeah, right, there was no truth to that. It was triage.
If you remember, they ran out of oxygen units in
hospitals at the same time you ran out of PPP funding.
So we were allocating as an industry, who was going
to get those loans.
Speaker 2 (04:58):
Hence the trioge.
Speaker 5 (04:59):
You you had a triation.
Speaker 4 (05:01):
Unbelievable, And of course what you're talking about is you
had to prioritize.
Speaker 5 (05:04):
Yeah, we were hiring college interns who were sequestered at home,
as the term was called, trying to figure out how
we're going to fund loans with limited deposits. A week later,
the Treasury set up the funny mechanism. But before that
you were you were out of money as a bank,
and so the large banks were doing it based on
(05:24):
divisions and most important clients. They got a bad wrap
for that. Community banks kind of stepped up.
Speaker 4 (05:30):
They hammering you guys for reserves at that point because
you know, at the same time you're out of money, right, don't.
Speaker 5 (05:36):
Let sword for you guys, it was terrible. If you
can't fund the loan, you lose the client. So you
have an obligation to take care of your clients. At
the same time, people were trying to change banks to
get the loans, and at the.
Speaker 4 (05:47):
Same time you're fighting your own reserves to keep you,
to keep the underwriters happy for the bank regulators at
the same time, right not.
Speaker 5 (05:53):
To mention or less than a year old. So for
oh yeah, we opened in twenty eighteen. I think it
was around twenty twenty when they set that up.
Speaker 1 (06:01):
Dan y Hs is the CEO of Endeavor Bank. There
ticker symbol ed v R. Who's the gatekeeper on all this?
For the near duells? And the people are thinking, I'll
get a quick buck. I'm going to try to get
one of these pe people or was there any Yeah,
it was none.
Speaker 4 (06:15):
Could you smell a fish at sometimes every once in
a while because you I'm look at You've been thinking
for a long time and you know you know to trust,
but verify.
Speaker 2 (06:22):
I get that in your personality. I know about you.
I know I've got you.
Speaker 5 (06:24):
I discovered a fraud within the first thirty days and
reported it and the person went to jail, so it
was it was easy to spot.
Speaker 4 (06:32):
Well, I mean this is like this is like price
couching in the middle of a disaster, when somebody's trying
to steal money at the expense of somebody else. Actually,
I think in terms of security, like Mike brings up
any major changes if this happened again that you that
you would install in terms of metrics right away.
Speaker 5 (06:52):
I mean, the thing is it actually ended up working well.
At the end the second round, companies who qualified received
a loan. We had excess funds at the end the
first round. We were out of money in ten days.
So Congress didn't allocated enough money. They didn't understand the demand.
Who would be applying. Nonprofits missed out in the first
(07:14):
round schedule see employees missed out because if they didn't
show a profit on schedule see which who does most
schedule see trying to show a loss, they didn't qualify.
So they changed the rules to really figure out who
really needed the loans.
Speaker 1 (07:29):
Dan Yate's CEO dvor Bank and of course their Tickerson
well eDV R. So happy to have you at the
bar here with this one.
Speaker 5 (07:35):
Thank you.
Speaker 4 (07:35):
I have a question, so let's let's look at the
other side of the counter, and that was stimulus. Okay, right,
so not for the businesses but for your customers. Yeah,
what did that look like as as a bank president seeing, okay,
we're taking care of the business as best we can
since the government gave us a damn with a huge
leak in it to start off with. On the PPP side,
here we have a ton of liquidity coming into this country.
(07:57):
And if you know, you go back to nineteen forty,
every time there's liquidity, interest rates follow, liquidity interest rates follow,
you put you pumped.
Speaker 2 (08:05):
That money in the system.
Speaker 4 (08:07):
As a banker and as a venture capital guy talking
to bankers, I know how you think there had to
be a point in stimulus number two or Semius number
three where you knew the shoe was.
Speaker 2 (08:17):
Going to drop at some point.
Speaker 4 (08:18):
What did you see on the consumer side to start
and what did you see as it went along there
that made you sort of say, I want to go
on vacation for a little bit now.
Speaker 5 (08:25):
So the biggest concern we saw as in industry is
excess liquidity. It got to the point where you couldn't
figure out what to do with those funds as they
show up in your bank. As quickly as that occurred,
the opposite occurred, and we had trillions leave the banking
industry into treasuries and money market funds. But during those
early days, for you guys, well think about the banks
(08:46):
that failed and you go back. Let's just take Silicon Valley.
They had excess liquidity. So what do they do? They
put it out into long term bonds because they really
didn't understand.
Speaker 4 (08:56):
If the interest rate went the other way, the bond
markets inverse relationship.
Speaker 2 (08:59):
Now they don't have very.
Speaker 5 (09:00):
All you have is history. Go on, you have deposits
that are now sticking around less than you're used to,
and you make investment decisions in your portfolio that aren't
based on any historical data.
Speaker 2 (09:13):
Well, and you nailed it.
Speaker 4 (09:14):
And and that's exactly right because I believe, Okay, if
you look at the Great Recession, or as I like
to call it from equity, the Great Correction, the you
know what happened there was we had the derivative market,
We had credit of fault swaps, and really were we
were we were making counterfeit shares out of nothing. We'd
sell paper and then we'd sell paper on the paper
and then take a commission right and then take another commission.
Speaker 2 (09:35):
Next to you know, it's so deludive.
Speaker 4 (09:36):
And I will tell I will still tell you the
biggest danger in this country is the derivatives market to
this day. If you look at the other side of
the fence in terms of in terms of that banking
crisis going forward, in terms of in terms of liquidity
and over liquidity. Interest rates killed the consumer, just like
the Great Recession killed the equity holder, don't you think?
(09:57):
And was that because of liquidity? Is that because we
pumped too much money in too fast?
Speaker 2 (10:01):
Do you think?
Speaker 5 (10:01):
I think it had a lot to do with that.
When rates went up, most business owners put off their
plans to invest in capital, equipment, infrastructure, and there was
a big waiting period and so loan demand shrink. Banks
are sitting on too much cash. All you can do
is put out in the bonds at some point, and
it created disruption in most banks across the nation.
Speaker 2 (10:23):
I got five words for you. How are you still standing?
Speaker 1 (10:27):
Yeah?
Speaker 4 (10:28):
Coming back after the break, we're talking about your actual
business here for a second. Thanks for giving us top
down and Devor bank Dan yehe CEO stocks that.
Speaker 2 (10:34):
Will eDV R. We'll talk about being the CEO of
a public trader company. I'll STI, we'll talk about.
Speaker 4 (10:38):
What you're doing these days, because you were ranked first
in California, fifteenth in the nation by Semi Resource, named
the S and p's top performing bank, top Premium bank.
Speaker 2 (10:47):
I'll think what all that means.
Speaker 4 (10:49):
This is the second Big BIS show, Bigbyshow, dot Com,
hundred twenty five million TV home strong and.
Speaker 2 (10:52):
Of course American forces networked in one hundred and seventy
five countries and all the ships see we'll see a.
Speaker 1 (10:56):
Minute we continue if the locker one hundred studio Big
this show. Hope everybody's having a great day. Is always
thank you for tuning in here at the bar, Costa,
Marryban Godwin, Greg Tatarov our Executi producer, and Sully.
Speaker 4 (11:15):
I still say my head every time we stay here
at the bar because when we started resting nails and
I started to go almost thirty somebody years ago, Mama
Wall Street Journal called us business with the barroom slant.
Speaker 2 (11:26):
Nothing wrong with in the bar. We're brought to you
by Productional Love Producial being your Rocket Retirement.
Speaker 4 (11:31):
Also brought to you by Bayer Advance, Better Science, Better Results, Starbucks, coffee.
Speaker 2 (11:35):
Maybe you heard of them. I'm hopped up on some
right now. Blooming Brands. They're fine family of restaurants, including
Fleming Steakhouse. Garaba is Italian.
Speaker 4 (11:43):
Don't of course outback steakhouse where they have authentic Australian food.
Speaker 2 (11:46):
Because everyone knows that blooming onions are going on the
side of the road on the way to Perth.
Speaker 4 (11:51):
I did forget pair of guitars right here in San Diego, California.
Speaker 2 (11:55):
Dan Yets is our guests, He's our CEO of Endeavor bankh.
Speaker 4 (11:59):
Ticker simple edb are talk about what it means that
a five star ranking with Bauer Financial since twenty twenty one.
This is a inside baseball sort of thing for the
rest of the world, but this is a big deal.
Speaker 2 (12:11):
Talk about that.
Speaker 5 (12:12):
Well, the banking regulators give us what's called a camel's rating,
which no one is allowed to legally ever talk about.
So Bowers is equivalent of that. It's as closest you
can get to really understanding how a bank is being run.
For the metrics. The camel's rating is your capital, how
much capital you have, your earnings, the management quality, your liquidity,
(12:33):
and basically how you handle risks.
Speaker 2 (12:34):
It makes you.
Speaker 4 (12:35):
It makes you more sympathetic with your people that are
filling out applications, doesn't it.
Speaker 2 (12:40):
Yeah, because they're because they're scrutinizing you the way you
have to scrutinize the customers.
Speaker 5 (12:43):
Think of a restaurant. Would you walk into a restaurant
that had a B or C? Well, hopefully not.
Speaker 2 (12:51):
If it was a bar, maybe, Mike right, Yeah.
Speaker 4 (12:54):
Can you talk to me about how the banking business
in terms of endeavor has changed since the day the
day it started and now because it's there's been a
paradigm shifter a little bit, and how banking has been
done because of regulation, because of the government, because of economy.
How about you, guys, Are you guys still standing steadfast
on the original principles or have things change?
Speaker 2 (13:13):
Have you had to change because of technology?
Speaker 5 (13:14):
I mean we are. We're fully into working on AI
right now and that is changing everything.
Speaker 2 (13:20):
How is that for underwriting? How would AI help a bank?
Speaker 5 (13:22):
Everything from the workflows, how you automate them, how softwores
talk to each other, eliminating errors.
Speaker 2 (13:29):
Could you, guys get you more lonely? When is the
last time you walked into a bank this morning? What
hold on Midwest.
Speaker 4 (13:41):
You remember you remember when walking on a Friday? Are
you walking with doors?
Speaker 2 (13:46):
All? You sit down?
Speaker 5 (13:48):
Those days are gone.
Speaker 1 (13:51):
No more free toasters.
Speaker 2 (13:53):
No, why don't you just deposit it on a mobile app?
Speaker 6 (13:55):
I'll tell you why.
Speaker 3 (13:55):
Okay, this would be can you take me back to
a gentler? So there was a time when you could
do it on the mobile app?
Speaker 1 (14:03):
Who on it?
Speaker 7 (14:06):
This is?
Speaker 3 (14:06):
This is for corporate accounts, okay, so bring If you
take it in to a brick and mortar, there's no hold.
Speaker 1 (14:13):
But if you use the digital oh, this is for
the business.
Speaker 5 (14:17):
You're the wrong bank. Well a good thing, I know something,
just say it.
Speaker 1 (14:25):
But Dan, to that point, how you know is it?
Is it word of mouth? Like, Hey, I've been with Endeavor?
You guys they are kicking you should be with Endeavor
as well.
Speaker 2 (14:33):
Pretty sure that's their tagline.
Speaker 1 (14:35):
Sorry, but I'm just saying, as far as you know,
people still have a choice as far as financial institutions.
Is it just your reputation and the fact that so
many people when people ask say, yeah, I'm with Endeavor.
Speaker 5 (14:48):
I mean, most of our clients are here because of
our shareholders. They're business owners in town, so they refer
clients to us. But the hold, I mean, that's you
have to know your client. Sure you put a hold
on it. If you don't know the clients.
Speaker 4 (15:01):
If he puts a check in from Briggs Tequila Company,
well maybe it is.
Speaker 3 (15:06):
It is a national bank, and it's a situation of
when you go through the mobile app, it's handled at
a different level. But if you go into the brick
and the local bank, they know you and.
Speaker 2 (15:17):
There's a question there you talk about AI.
Speaker 4 (15:19):
Okay, Now what I was getting to is when I
was in college, I could write a twenty dollars check
for groceries on Monday, go buy groceries and they would
clear on Thursday. And it was By the way, that's
a felony. It's called kiding a check. You're not allowed
to do that, but everybody did it. There is no float, period,
there's all digital banking.
Speaker 5 (15:38):
To Marry's point, there's a sin float, but not real flop.
Speaker 2 (15:40):
But how much faster can you get? How much more?
Speaker 4 (15:44):
Because I would say banking is so efficient now because
if I I can't remember the time my lesson I
wrote a check, but if I write a check, blog
in the next morning that checks clear.
Speaker 1 (15:55):
Sometimes it's the same afternoon.
Speaker 4 (15:58):
How much more efficient can you guys get with banking
in terms of I mean everything's almost in real time now.
Speaker 5 (16:03):
Real time float now, I mean it's clarity immediately.
Speaker 2 (16:05):
So is AI gonna helping and that are you? Is
it helping?
Speaker 7 (16:08):
No?
Speaker 5 (16:09):
Okay, No, it's it's more. It starts with the internal
efficiency of how we do everything from underwriting loans to
sending up proposals, onboarding new clients, which are complicated if
it's a sophisticated company. So all of that you're trying
to streamline and improve the client experience with AI and workflows,
automation tools. I mean, it's across the board.
Speaker 4 (16:29):
With endeavor in the Bower Financial and of course you've
got all these other awards going forward, you have film
reforest type of first place. You guys are as solid
as probably more solid than the big banks.
Speaker 2 (16:41):
Are you. Are you considered a regional bank at this point?
Speaker 5 (16:46):
Are you considered I would say technically yes, because we're
now in Los Angeles as well San Diego. But I
think of us as a local community bank.
Speaker 4 (16:55):
And I think and I think that's where the that's
where the disconnect is, isn't it.
Speaker 2 (16:59):
Yeah, because I can tell you.
Speaker 4 (17:02):
Regional banks, I think saved a lot of businesses, but
local community banks to create relationships still are are critical
and I think I think that they almost went the
way of the DODO.
Speaker 5 (17:14):
The way I think of a local bank is the
executive team lives in the community, very involved on local boards,
filling the pulse of the leadership community. A regional bank,
typically you're not going to be as involved in every
single city that you're yes.
Speaker 4 (17:32):
Right, regional banks are you typically not based in the
city that you're in. What are you looking most forward
to here into twenty twenty five Now that it seems like,
you know, we've shut this economy off like a light switch.
Now it's coming back on like a sunrise. We're going
to get through it at some point. Interestrate, you're going
to stabilize at some point. At some point we're not
going to see the stag place that we were worried about.
(17:53):
You've got a number of things that are moving in
the right direction. I think tariffs are going to be
temporary and that's going to give a boost to the markets.
Stock market is not the economy only about forty three
percent YEA of the universe here in the states participate
in the stock market, one hundred percent of participate in
the economy.
Speaker 2 (18:09):
So what do you look at most forward to what's
the civiety.
Speaker 5 (18:12):
We refer to twenty twenty four as a slingshot, so
you think about how you pull a sling shot back.
That's investing in infrastructure. We increased our workforce by thirty percent.
A lot of production team members expanded to another geographic area.
LA twenty twenty five is when you see the fruits
of the labor. So, like all the slingshot launch, earnings
(18:34):
this year predicted to go up and it's exciting. This
should be a big growth year for the man.
Speaker 4 (18:39):
Any chance you guys grow in other parts of California?
Here are more locations.
Speaker 5 (18:43):
To hope not, I hope not. And last question once
every a couple of years enough for me.
Speaker 4 (18:49):
Last question, do you think you are better prepared now?
We're there to be another PPP oh heavens.
Speaker 5 (18:56):
Yeah, I'll figure it out. Yeah, Well, I wouldn't say
that the government can change.
Speaker 2 (19:00):
Look at you can. Dan, Will you come back and
see us sometimes.
Speaker 6 (19:04):
We loved you.
Speaker 1 (19:04):
He is Dan Yates, the CEO of Endeavor Bank Jet
black Hair. By the way, before COVID.
Speaker 2 (19:12):
Than we are. Let's much worn coming the Big Big Show.
Speaker 5 (19:20):
Thank you.
Speaker 8 (19:25):
H m hm.
Speaker 1 (19:40):
M yeah laugh. One hundred Studios The Big Big Show.
Speaker 4 (20:07):
Our affiliates and our hosts are not registered investment advisors
or broker dealers. Our show hosts make no commitment that
the purchase of securities of companies profiled or otherwise mentioned
in our programming.
Speaker 8 (20:20):
Are suitable or advisable for any persons, or that investment
in such securities would be profitable.
Speaker 7 (20:26):
In general, given the.
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Nature of our company's profile and the lack of an
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Most of these companies that we profile have provided compensation
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Speaker 4 (20:47):
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Companies, but never saw salk speaking about interviewing or covering
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Specific questions on compensation can be obtained by contacting producer
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Speaker 10 (21:17):
Dot com listeners should verify all claims and do their
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Investing in security is a speculative. He carries a high
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We encourage our investors to invest carefully.
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And read the investor information available on the website.
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Or the Financial Industry Regulatory and Authority SINRA at www
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Speaker 1 (22:04):
Big, big show boys are We are inside the loft
one hundred studios in southern California. Those gentlemen on the
stage right there, the absolute best in the business at
the day Trader trio. Down here at the bar, it's Costa,
it's Mary Burg Godwin, it's our executive producer, Greg Aderov.
And of course the man with the plan.
Speaker 2 (22:25):
Is Sully Well.
Speaker 1 (22:28):
Year's strong.
Speaker 2 (22:30):
Across this fine country.
Speaker 4 (22:31):
And of course let's not forget American Forces network in
one hundred and seventy five countries and all the ships
at sea. Thank you boys, love our military, saving our military.
Speaker 2 (22:40):
Uh TV and radio.
Speaker 4 (22:41):
And I've got some news for you on distribution coming
up very shortly.
Speaker 2 (22:44):
The next week or so. But at meantime, who's Brian Cooker?
Speaker 5 (22:51):
Don't know?
Speaker 1 (22:51):
Let's find out all right, Brian Cooker is the CEO
of sun Opta there ticker symbols or stklu. What is
TSX for.
Speaker 2 (23:00):
Toronto Doc Exchange?
Speaker 1 (23:02):
That would be Canada Their ticker symbol up there is.
Speaker 2 (23:06):
Oh, why we.
Speaker 1 (23:07):
Welcome mister Cooker to the Big BIS Show for the
first time.
Speaker 2 (23:10):
Hey, mister Cooker, how are you.
Speaker 7 (23:13):
I'm doing great? Thanks so much for having me really appreciate.
Speaker 2 (23:15):
Oh, you have no idea what you got into. You're
not gonna thank us after a.
Speaker 7 (23:19):
That's probably true too.
Speaker 4 (23:21):
Hey, Uh, you know it's great when we get because
we're a show.
Speaker 2 (23:25):
It's so funny.
Speaker 4 (23:25):
This show has been on the air for almost thirty years,
and we start off in radio and it was called
it was called the Big Ass Biz Show when it
first started, Big.
Speaker 2 (23:35):
Big Ass Show, you just swore on national TV. So well,
we were on radio at the time, okay, and then.
Speaker 4 (23:41):
Uh, the program directory said, hey, we gotta tell you
I can take the asked out of it. Such a
big BIS show and it's so funny that's morphed into
something where it's political it's about music.
Speaker 2 (23:54):
It is loosely based around business at this point.
Speaker 4 (23:57):
So when we get an actual public traded company or
a business to actually interview is fantastic. One of the shareholders,
I believe, contacted Greg targrapher execuive producer, and said, you
guys got to talk to this company with the stock
symbol STKL, all right, and they are in the business
of sustainable manufacturing, fueling the future of food. I think
(24:19):
what's fueling the future of food is funions and baco
bits and not enough of it.
Speaker 2 (24:26):
I'm not enough mayo for dipping.
Speaker 1 (24:27):
I'm doing my part. I'm trying to do my part.
Speaker 4 (24:29):
Brian, I conducted some due diligence on you. This is
a really cool company, and you guys at the right
place at the right time. Talk about what you guys
do for.
Speaker 2 (24:35):
Us, would you.
Speaker 8 (24:37):
I'm so excited about it. We are a private label
and co manufacturing solutions provider in a better for you
food space.
Speaker 7 (24:47):
So we make.
Speaker 8 (24:50):
Private label plant based beverages, oak milk, callmon milk, soy milk.
We might do a little bit of broth for someone.
We might do some tea. We have some better for
you healthy fruit snacks, but it's all about supplying a
solution to supply chain challenges that our customers have. And frankly,
that's where our growth comes from. We just want our
customers to win.
Speaker 2 (25:11):
Right is this is this what we would call what
do they call that?
Speaker 7 (25:18):
Tasting?
Speaker 2 (25:22):
Brands come to you to manufacture how it works and
the white labels that was called.
Speaker 7 (25:28):
One hundred percent.
Speaker 8 (25:29):
So brands will come to us, we'll make it in
their brand, we'll make it for a store brand. But again,
our job is to solve their supply chain problem. They
might need a better taste profile, they might need protein
infused in their product, they might.
Speaker 7 (25:44):
Need better availability across the US, and and that's what
we aim to provide for.
Speaker 2 (25:50):
Mike does that does does funnus neither different or better
taste profile.
Speaker 1 (25:54):
It's fortuitous that mister Cooker's on the show because I
was literally thinking about that driving up here. Do my
funions taste the best that they should?
Speaker 8 (26:03):
Brian, you are not gonna believe in the innovation pipeline.
Right now we have Funion flavored almond milk.
Speaker 2 (26:15):
It's coming tomorrow, Brian.
Speaker 1 (26:18):
I can only take so much greatness.
Speaker 2 (26:19):
I'm sorry, Oh my god, thank you so much, sir.
Speaker 1 (26:23):
How but in all seriousness, do you is there a
certain point where you've got to kind of give people
the heisman and say, eh, we really don't want to
do that because it doesn't fit our I guess profile of.
Speaker 4 (26:36):
Nutrition or what we want to be parking, or your
best practice is knowledge knows that they're walking into a
headwind because they want to make funion flavored oak milk.
Speaker 7 (26:44):
Yeah, exactly, I may have lost the customer.
Speaker 4 (26:47):
Now you want you watch next month? You watch next month.
This damn company is gonna have funion bacon bit and.
Speaker 3 (26:56):
Send you.
Speaker 2 (27:00):
Even on this for a while. I mean, you've got
to have you know, I love.
Speaker 4 (27:03):
The fact when people think they're creative, but they're better
business people than they are creative, and you're the creative
guys and business guys when.
Speaker 2 (27:08):
They come up with it. Mike's got a great point there.
Speaker 4 (27:11):
How do you kind of how do you kind of
regulate best practices with bad ideas with what you think
your own brand's going to fit with.
Speaker 7 (27:21):
Yeah, well, the.
Speaker 8 (27:22):
Good news is we really are trying to solve a
challenge for our customers. They often do the market research
and let's just stick with the theme. If funion based
almond milk was the next best thing.
Speaker 7 (27:36):
We would try to help.
Speaker 2 (27:38):
Them with that.
Speaker 8 (27:38):
We've got foods twenty one food scientists who work on
all taste profile and nutritional content, even packaging size that
might be able to help.
Speaker 7 (27:47):
So we'd give it a run. I think a couple
of things that we run into.
Speaker 8 (27:51):
If it's only Mike who's buying the funion sized Punion's
flavored milk, that might be a little too small for us.
Speaker 12 (27:59):
I don't know.
Speaker 4 (28:00):
You've seen the size of the guy. Well, it looks
like a small farm town over there.
Speaker 7 (28:03):
To me, that's true.
Speaker 8 (28:05):
But you know, for the most part, we are trying
to follow the consumer trends and if bacon bits oat milk.
Speaker 7 (28:13):
Is the next surprise here, then we'd be all over.
Speaker 2 (28:16):
Hey, let's talk about the company real quick.
Speaker 4 (28:18):
I know I'm hijacking Ray for one second, but you
have twel hundred employees geographically where you got to talk
about geographic footprint a little bit before.
Speaker 8 (28:25):
North America for a sales footprint, mostly US for a
manufacturing footprint. We do have a small plant in Niagara, Canada.
About a thousand of those employees are in the plant
working every day twenty four seven operation, and man, I
love our organization.
Speaker 7 (28:43):
They're they're super bright, they're receptive to coaching.
Speaker 8 (28:47):
We coach hard. We try to just get better, a
little bit better each and every day. You know, my
dad told me a long time ago that I.
Speaker 7 (28:54):
Wasn't smart enough to make it real complex.
Speaker 8 (28:56):
So I just try to be better today than I
was yesterday, better tomorrow than I am to day.
Speaker 2 (29:00):
Let me went up here, Brian, my dad told me
abou yesterday.
Speaker 7 (29:04):
So watch.
Speaker 8 (29:05):
Hey, here's the other thing my dad told me. And
I don't know why he keeps reminding me of this,
but he told me I have a face for Rady.
Speaker 2 (29:10):
Yes my birthday re three four. Maria's a question.
Speaker 4 (29:16):
You have seven and twenty four billion dollars or million
dollars in sales est year. I want to kill you
to kick us down fifty K a month for me
to say brought to you by Sonata.
Speaker 8 (29:23):
Let mean, come on, oh, let me transfer you to
the Let me transfer you to the marketing department in
the meantime like.
Speaker 4 (29:30):
A great ceo. Yeah yeah, let me let me get
my assistant on that. Brian's it's on hold, says, Hey,
do we have an assistant. Brian Cooker is the CEO
of Sonapta, cooking up great things.
Speaker 1 (29:41):
For you world.
Speaker 2 (29:42):
Oh wow, marketing, Oh my god.
Speaker 1 (29:45):
Yeah, taken the symbols STKL and s O.
Speaker 9 (29:49):
Devin down here with a big biz show and today
we're going to talk about banks and failures. Now, two
things that you might find synonymous. Well, they go together
pretty well, but they used to go together.
Speaker 12 (29:58):
Better in the eighteen hundred.
Speaker 9 (30:00):
Then along came the creature from Jacko Island and the
JP Morgan meet up on the Secret Island. And then
for about a century you didn't really hear too much
about bank failure, But in the last year it's all
you hear about. I specifically think it's this guy's fault.
Speaker 11 (30:13):
So what the hell is going on?
Speaker 7 (30:14):
Howie?
Speaker 11 (30:15):
While I have nothing personally to do with that, Regional
smaller banks in the United States have had a tough
time for almost a year now, why Yeah. So when
you have smaller portfolios that can absorb losses, and you
have illiquid deals things that you can't just sell out
of and take a small hit on, you're stuck with
a bad deal, You're gonna have problems.
Speaker 9 (30:37):
Have you ever noticed that anything that happens bad to
a small community bank. Kind of sounds almost eerily similar
to some guy that's getting divorced and going through like
an alcoholic problem. He's selling himself off.
Speaker 1 (30:48):
He got dumbed. I have not heard that, but it
kind of works.
Speaker 9 (30:52):
Yes, yeah, so small community banks the next single alcoholic
step dads of our nation. More next week with Holle.
Speaker 11 (30:59):
They're actually in a cent part of the business community.
Speaker 1 (31:01):
But so is my drunk father.
Speaker 11 (31:07):
We're here at the twenty twenty four Bio International Conference
at the San Diego Convention Center, the world's most prominent
gathering of industry leaders across all of biotech.
Speaker 12 (31:21):
You're watching the big, big show, all right, So we're
here to do interviews. Why are we interviewing people here?
Speaker 11 (31:30):
Well, we're here to help showcase some of the most
innovative biotech companies on the planet that want to show
off a little bit and have agreed to do some
interviews just for the big Goose show.
Speaker 12 (31:41):
Nice biotech like blue shots and stuff. Yesum, Devin, that
is right, that is technically right. Sweet kind of my
candy new No.
Speaker 11 (31:53):
Only one today.
Speaker 12 (31:57):
Razi by Pfizer, because that's never scared anybody.
Speaker 11 (32:01):
We're at the theater area where companies are every fifteen
minutes coming on to do quick showcases with the latest
and greatest of what they have to offer. There's so
many companies that we have over ten theaters across a
four day event, every fifteen minutes, lots of showcases, lots
of sea.
Speaker 12 (32:20):
We're here with Steve Glover of zi Versa. We just
wanted to get a little update.
Speaker 11 (32:25):
Well he's he's a freaking guest on the show and
we're here at BIO Conference twenty twenty four.
Speaker 12 (32:31):
Yeah, it's great to be with you.
Speaker 2 (32:33):
Good see again. I appreciate Yeah, Bio. You know it's
a fun conference.
Speaker 13 (32:37):
Fall there's fifteen thousand or closest threads right definitely.
Speaker 12 (32:42):
Can you talk a little bit about what you're doing
here and what mis should I company us?
Speaker 8 (32:47):
Sure?
Speaker 13 (32:48):
So bio was a big event for all this as
a complicate and as an industry as well, because we
get a chance to lb and talk about the science
and the progress. You start your bus conversations around collaborations
year at the conference and then on the exhibit you
get a chance to see some new technologies that you
could use the developer product. So it's really kind of
(33:09):
a one stop shot, and it's not as you get
to see people from around the world. You know, people
from Japan or who we're meeting with people from Europe
as well, and it gives a chance for the industry
to kind of meet one spot. It's one of the
nicest things that bio developed about fifteen years ago. There's
a big exhibition over behind a left Shoulder ear and
there's probably close to four hundred companies here and those
(33:30):
companies are quickly meeting every thirty minutes, providing updates, talking
about areas of interest and pass forward and it really
sets up the entire year for you from a development
and partnery standpoint, and it's a great way that you know,
I just met with somebody that I've known for twenty
years and we're talking about you know, development and what
we're doing, and you know, those those relationships start at
(33:53):
a conference site.
Speaker 1 (33:54):
It's the traditional earliest form of viral marketing.
Speaker 11 (33:57):
So you have the entire industry coming together in one
spot talk to each other, to communicate with each other
and share their biggest breakthroughs of the year.
Speaker 12 (34:06):
So it really does tend to be where news is made.
Not to make yourself Devin, we're filming back to work too.
Speaker 1 (34:16):
Brian, what are the competitive advantages of Sanopta?
Speaker 7 (34:21):
Oh?
Speaker 8 (34:21):
I think really, when you're providing a solution for a customer,
you've got to be really good at service. So we
believe we're differentiated on service. And that may mean availability
of product. It may mean packaging styles. We've got a
really wide network in terms of packaging choices. It may
also mean that we have flexibility whether it's ot or
(34:42):
almon or soil.
Speaker 13 (34:45):
We can do all of that.
Speaker 8 (34:46):
I think the other area, and I mentioned this before,
the other competitive advantage is we have these twenty one
food scientists. Now I'm going to say this as affectionately
as I possibly can. These twenty one food science geeks
are unbelievable in supplying ideas, creativity, overcoming challenges that customers
(35:07):
have across the spectrum, and they're a very special part
of our argent.
Speaker 4 (35:11):
Say hey, Brian, I got to say, of course they are,
because you know, consumers under pressure.
Speaker 2 (35:18):
Price wise terrifies what your categories are growing.
Speaker 4 (35:21):
So I'm gonna have I'm gonna let you talk about that,
But I also got to talk about the revenue picture here,
because if we break down what you did in twenty
twenty four, and you know on the stock geek. I
went back and looked at your looked at every press release.
I went back and looked at any interview that you
said you were going to do what you did and
you actually delivered upon it. So I want to talk
about that for a second, and I also want to
talk about what you're thinking inasmuch as you can as
(35:42):
a CEO of public company for twenty twenty five. Before
we get to that, though, comment real fast and the
fact that you do have that team you just mentioned,
and the fact that we are facing headwinds as consumers,
but you're your categories are growing.
Speaker 2 (35:52):
What are you doing? I mean you that's something that
you got a tiebreaker there somewhere right.
Speaker 7 (35:57):
We're blessed in a couple of areas.
Speaker 8 (35:59):
One, the category are incredibly on trend, even plant based beverages.
There are some that are just fitness oriented. There's some
medicinal purposes. If you're lactose intolerant, you're going to choose
a plant based or a non milk product. The fruit
snacks is better for you. Do they have sugar in them?
(36:19):
Of course, it's sugar from apples. I think we can
live with sugar from apples. So a, we're on trend.
Speaker 7 (36:25):
But I think it gets back to us.
Speaker 8 (36:26):
We've got a singular mission with respect to customer centricity.
We want to solve our customer's problem. If they win,
we know we'll win in the long term because we
help them do that. And I think, combined with the
competitive advantages that Mary asked about earlier, I think that's
how we roll together. The growth has been really fantastic.
(36:48):
We benefit from categories that are growing, but we also
like to think or that we benefit because we come
to work every day, we put our hard hat on,
we try to do the best we can, and then
we wake up and do the same darn thing the
next morning. And to me, that's that's how you grow
a business.
Speaker 1 (37:04):
Brian Cooker is the CEO of son Opta. Their ticker
symbols STKL also s o Y. Brian final question, take
us through, uh those advantages as far as twenty twenty
four revenue, what you've got insight for twenty twenty five,
and more importantly, what's that path.
Speaker 4 (37:20):
Don't get us in trouble for talking about stuff you're
not supposed to know.
Speaker 2 (37:22):
Exactly what does the path I look like.
Speaker 8 (37:25):
I've got that, I've got that tattooed somewhere here that
I'm not going to stow you on live TV.
Speaker 2 (37:31):
Hey look, Mike, my cat Sendler's here. That's say let's
say you yeah, Lakota.
Speaker 8 (37:37):
So just to let you know, we're really excited about
the categories we operate in. Almost all of them are
growing at least five percent.
Speaker 7 (37:45):
Some even more so.
Speaker 8 (37:47):
We've we've guided to some long term growth rates that
are that are eight to ten percent and twenty twenty five.
Speaker 7 (37:53):
We're thinking growth, volume based growth.
Speaker 8 (37:55):
By the way, this is you know a lot of
the growth we're seeing today in consumer products is probably
we're in it.
Speaker 7 (38:00):
We're volume growth because the categoris are growing, our.
Speaker 8 (38:03):
Customers are growing inside of those categories, and we're here
to help them be successful. So I'm looking forward to
the growth in the seven and eleven percent range. And
subtly to your point, we guide to what we see,
not what we hope that happens. Well, Brian, because of that,
we deliver results.
Speaker 2 (38:20):
I was actually gonna say to you that hopium has
never been your strategy. I'm not kidding you.
Speaker 4 (38:24):
Guys have said what you're gonna do on your deliver buddy,
You got to come in studio.
Speaker 2 (38:27):
We need to have you back on a daily basis.
I'm not kidding.
Speaker 1 (38:30):
As soon as the fun your note milled kids to show,
got out there taste, Tester Man, take your simples. S
O y st k l it is son often CEO
is mister Brian Cooker.
Speaker 2 (38:41):
Brian, anybody come back on this show?
Speaker 1 (38:45):
All right, we will also promise to come back. Hey,
a lot more big B show coming your way.
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