Sunday, September 15
While trucks are moving in and booths are being assembled, Sunday's attendees will be able to enjoy a Women in Energy Roundtable Discussion as well as the launch of the Next Gen Leaders Program. A general welcome reception will take place at 5:30, followed by a Women in Energy Reception at 7:30.
What is the Next Gen Program?
This is a special educational program constructed for the next generation of leaders in our industry. It consists of two tracks: Next Gen Financial and Next Gen Business & Technology. The tracks will be appropriate to new owners, children of owners, and managers. They will face challenges greater than any previous generation as we move closer to climate change deadlines in 2030 and 2050. But at the same time, these current and future leaders need a sound grounding in the fundamentals of our industry and in running a company. These education sessions are intended to introduce this audience to some of these latter ideas.
All sessions are held on the 5th floor of the Convention Center.
9:00 am - 11:00 am | Truck Move-in
9:00 am - 4:45 pm | Booth Assembly
9:00 am - 9:45 pm | Registration Open
1:00 pm - 1:45pm
Understanding P & L, Cash Flow and Balance Sheets
1:00 pm – 1:45 pm, Room 556A
Business leaders need to have a fundamental grasp of the finances of their company. This session will present an introduction to the three core financial statements that every leader needs to know, showing how the statements are constructed and their interrelationship to one another. Understanding these statements will let you manage financial variables to improve margins, net income, and assets/debt/equity relationships.
Presenter: Rashaan Baskerville, Director Angus Finance, has nearly a decade of experience in the financial services and energy services fields. Rashaan's background in budgeting, planning, hedging, variance analysis, operational analysis, and analytics benefits his financial advisory customers.
Family Business Valuation, Fuel Oil and Propane
1:00 pm – 1:45 pm, Room 556B
Understanding how to value your family business is critical for every family member. Understanding valuation isn’t simply for making acquisitions or sales, but it’s essential to determining the value of shares of the company among family members, buyout of the shares of one family member by another, for succession planning, and for various financial instruments that are based on valuation. You’ll also learn what company practices help to increase your business’ value and what decreases it.
Presenter: Joshua Wolf, CFA, Managing Director Cetane Associates, LLC joined Cetane Associates in July 2013 and has contributed to the successful sale of 30 retail fuel marketers and numerous valuation assignments. Prior to joining Cetane Associates, Mr. Wolf held a variety of banking and investment banking positions in the energy finance groups of Credit Lyonnais, ABN AMRO, and Mizuho Securities USA. His experience includes credit portfolio management, corporate advisory, and client relationship management. Mr. Wolf received a Bachelor of Business Administration degree from Emory University's Goizueta Business School and obtained the Charted Financial Analyst (CFA) designation.
Moderator: Sean Cota, Cota + Cota. Not only is Sean the president of NEFI, he also grew up in the family business in Vermont where he is intimately familiar with family valuation issues. He’s also consulted with family businesses in valuation and acquisitions.
2:00 pm - 2:45 pm
Fueling Your Future: Gray, Gray & Gray's Industry Metrics
2:00 pm – 2:45 pm, Room 556A
This session presents some of accounting firm Gray, Gray & Gray’s industry metrics from their acclaimed annual industry survey. Suppose on average during the winter your delivery trucks make 8 deliveries a day. Is that good or bad? Without anything to compare that number to, you don’t know. This also holds true for financial metrics, such as average days of receivables or your company’s quick ratio. Knowing what the industry averages are is invaluable in your making good management decisions.
Presenter: Marty Kirshner, CPA, MSA is a Director, Client Services Department with Gray, Gray & Gray where he helps provide accounting, audit and advisory services for clients in our industry - from strengthening internal controls and ensuring a thorough analysis of financial statements, to utilizing client data and industry benchmarks to assist clients with identifying opportunities for increased profitability and long-term goal attainment.
Growing Up in a Family Business
2:00 pm – 2:45 pm, Room 556B
There is no business like a family business, with complex personal interrelationships between a few, and up to dozens of, family members. In this session, you’ll hear the personal stories of two company owners as they struggled with their roles in the company, even at times considering leaving, and changing careers, only to return to make their companies even more successful. Whether you are a family member in a business or employed in a family business, this session will provide plenty of insights.
Presenters: Peter Aziz, BantamWesson Energy.
3:00 pm - 3:45 pm
Risk Culture for the Next Generation
3:00 pm – 3:45 pm, Room 556A
Risk is present in every aspect of a business, and managing risk is a key skill that managers need to know. While our industry is subject to financial and weather risk, which can be hedged but not directly controlled, managers can control the various physical risks our company and employees are subject to. These include accidents, both on site and on the road, and environmental risk. This session will review many of these risks and present action plans to prevent them, and to control them if they do occur.
Presenter: Daniel Dowdy, Account Executive, Federated Insurance, is responsible for Federated’s partnerships with trade associations across the northeast.
3:00 pm – 3:45 pm, Room 556B
No fuel delivery company should operate without understanding the basics of hedging. Since our industry adopted hedging some 40 years ago, it’s become an essential part of buying product. Hedging can be as simple as buying a contract with a supplier at a fixed price. It can be more involved with the purchases of puts, calls, and a range of different options. If you’re not hedging, your speculating.
Presenter: Rich Larkin, President, Hedge Solutions, founded his company in 1993. Rich’s business model is rooted in the belief that energy marketers faced with a variety of purchasing options will find value and peace of mind with an independent and trustworthy advocate.
3:00 pm - 4:45 pm
Time-Saving Technology Tools Roundtable Discussion
3:00 pm – 4:45 pm
Topic Tables will each have a "team leader" that is experienced in the topic. She will guide the discussions that include:
- Teamwork - dealing with multi-branch companies or employees that work remotely
- Organization - stay on budget with advance preparation
- Internet Security
- Social Media/E-mail Tips
- Work-Life Balance
4:00 pm - 4:45 pm
NextGen Leaders Planning Session
4:00 pm – 4:45 pm, Room 556B
This will be an interactive session among attendees, exploring what they think the future of the industry is, what changes they think need to occur, what issues are important to them, and what kind of future education and networking opportunities they’d like to see from their state associations and from NEFI.
5:30 pm - 7:00 pm | Reception for Sponsors, Exhibitors & Attendees
Women in Energy Reception
7:30 pm - 9:00 pm, Ballroom C