A friend of a friend-Mike S. and Patrick Moldt-January 24

One thing I have learned is that good friends have other good friends. This is a series of stories about friends of my friends.  The post below is the story on a friend of a friend for January 24, 2015.

My wife and I are blessed that on both sides of our family we have some great nephews and nieces. One of our nieces-Mary Gibson married a really intelligent guy named Patrick Moldt. Patrick can best described as an entrepreneur. My wife and I love Patrick and Mary Moldt and their two beautiful daughters. They visited us this past Christmas and those two girls energized our home.

alijaneMary Moldt

Patrick’s dad Ed Moldt was also a successful businessman/entrepreneur and an educator.

Ed Moldt after a successful corporate career at Collins Radio Co., Hayden Stone Inc., and Philip Morris, began several entrepreneurial endeavors. These entrepreneurial firms ranged from leasing (furniture, automobiles, specialized housing, sewage treatment plans, etc.), residential care for the mentally retarded, residential care for juvenile delinquents, dental laboratories, private golf courses, new business incubators, indoor tennis and soccer clubs, real estate, and consulting.

Coincident with these private endeavors, Ed Moldt was a lecturer in entrepreneurship at Indiana University, Managing Director of the Sol C. Snider Entrepreneurial Center at the Wharton School of the University of Pennsylvania, and the founding Director of the John Pappajohn Entrepreneurial Center at the University of Iowa — where he served as Chairman of the Board.

Patrick has 20 years of technology experience. He had a software company, Pi Star Communications, a M2M software development firm that he sold in 2007 to a private investment group. He also has an extensive experience with working with the Department of Defense (DoD) and the Department of Energy (DoE) in remote surveillance and innovative M2M technologies. Patrick graduated from the University of Dayton and has worked for such notable companies as NetApp, IBM, Data Domain, VMware, Informatica and now is a consultant for Cloudera.

He has started a new company called FETCH Networks. FETCH has a goal to empower companies with complete control of remote asset data collection. They are working on some pretty innovative technologies that will prepare companies to collect and manage data from remote assets. You can learn more about his company at link below.


Patrick told me a story about a new friend of his named Mike S. who has been really influential in business decisions he has made.  He talked about how chance meetings can sometimes put you in touch with someone who has talents, skills, or gifts that you need at that exact moment. That happened between Patrick and Mike.


Patrick Modt

The Friend of a Friend-MIKE S.

Patrick Moldt’s story on meeting Mike S. and how he impacted his business

My wife and I in the summer of 2014 were attending FOCUS Church in Apex, NC when we met another young couple. Chris S. and his wife who have two kids age 3 years and 3 months just like Mary and I. Chris grew up in Philadelphia, PA and he was excited to hear that my dad had been at the Wharton School of Business at University of Pennsylvania. That connection let us hit if off.

I found out that Mike at age 33 was a superstar in the world of accounting. Mike was a Director at a large financial institution where he was in charge of Global Planning, Analysis, and Control Head for the Asset Management Division with over $1 billion in annual spending.  He was responsible for all expense accounting, reporting, deal related billings, and expense reduction initiatives.  In previous roles at this large financial business, Mike was responsible for building out the expense control function in partnership with McKinsey and Deloitte for the entire bank and was also the controller for brokerage, clearing, and exchange fees. Previously, he had worked as a Vice President at J.P. Morgan Chase. He held various roles within the Private Bank, Asset Management, and Security Services Divisions specializing in legal entity accounting, transaction accounting, due diligence, cost accounting, SOX compliance, expense/revenue attribution, and revenue control. Mike knew what accounting looked like on a global scale and soon helped me with my company FETCH.

I found it great that as soon as Mike and I met he began to share with me valuable information that I was able to use and elevate our presence. His guidance on our business plan and input on creating spin off companies were all real important to me and came at just the right time.

Being an entrepreneur you sometimes realize that it is thru the shared experiences of others that your business can grow and prosper. Mike gave that to me and I am really appreciative of his friendship.

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