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This course teaches fundamental frameworks and skills to analyze timber markets for timberland investment and wood procurement applications. Upon completion of this course, you should be able to:

• Compare market analyses for wood procurement and timberland investments.
• Understand what prices can — and cannot — tell us about timber market activity.
• Apply frameworks for conducting timber market and wood basket analyses.

Forest resource and investment professionals involved in the buying and selling of wood raw material and timberlands, including forestry analysts and consultants, timberland owners and timberland investment managers, procurement foresters, and forest managers.

This course follows a seminar and case-study format, with the introduction of market frameworks and analytic techniques reinforced by class discussion of case studies to apply these techniques. Handouts will summarize the materials covered, including references and analysis of current data for Southern stumpage prices and timber demand.

Dr. Brooks Mendell is principal of Forisk Consulting and publisher of the Wood Demand Report, which tracks actual wood consumption across the South. Brooks has 15 years of operating, research, and consulting experience in forestry and the forest products industry. His industry experience includes roles in harvest operations and procurement with Weyerhaeuser, and in management consulting with Accenture, as well as being a member of the forestry and finance faculties at the University of Georgia. His research emphasizes issues facing forest businesses and the analysis of risk in domestic and international timber and timberland markets. Brooks earned BS and MS degrees at the Massachusetts Institute of Technology; an MBA at the University of California, Berkeley; and a PhD in forest finance at UGA.

Dr. Tim Sydor joined Forisk Consulting in 2005 as a forest economist. Tim's professional experience includes roles in forest operations research at the University of Arkansas at Monticello, in forest management for the Tsuman State Forest Enterprise in Ukraine, and as a visiting lecturer of resource economics in the Department of Agricultural Economics at UGA. Currently, his research and consulting include the application of econometric techniques to study factors driving timber and timberland markets. Tim presents frequently on topics related to forestry investments and property valuations. He earned a BS in forestry at the National Agriculture University of Ukraine, an MS in forest economics at Purdue University, and a PhD in forest economics at UGA.

The fee for this course is $445, which includes lunch, refreshment breaks, and instructional materials. There is a $50 discount for fees paid by check or credit card and postmarked by January 3, 2007. Preregistration must be accompanied by check, purchase order, or credit card number to guarantee a place in the course. Limited seating is available. Transfer Fee: The Georgia Center will charge a $50 processing fee for a second course transfer, if applicable.

• 11 Continuing Forestry Education (CFE) hours — Category 1
• 11 Continuing Logger Education (CLE) hours — Business Management
• 13 Continuing Education hours for real estate appraisers approved by the Georgia Real Estate Appraisers Board; the Georgia Real Estate Commission accepts these hours.

Full Attendance Is Mandatory to Receive Credit.

If you are not satisfied with this course, we will refund your registration fee. Third Course Free! Attend two forestry courses in 2007 as a paid participant and get the third course (with equal or lower course fee) for free. Contact Nette Penn, at 706-542-6658 or Nette.Penn@georgiacenter.uga.edu, before you register for the third course. Fourth Person Free! Register three people from your organization and the fourth person is free. All registrants must be with the same program (same address and same budget), and the registration fees must be paid in advance by check or credit card.

This optional one-hour course focuses on case studies to illustrate the place of ethics in the practice of forestry. It meets the ethics requirement for registered foresters in Georgia.

The Georgia Center for Continuing Education Conference Center & Hotel, located on the beautiful, historic campus of the University of Georgia in Athens, Georgia, provides innovative lifelong learning opportunities that develop intellectual and human potential. A full-service living and learning environment, the Georgia Center includes a 200-room hotel, restaurants, banquet areas, conference rooms, auditoriums, a fitness center, and computer labs — all under one roof. As a unit of UGA's Office of the Vice President for Public Service and Outreach, the Center brings the University's teaching, research, and service expertise to the people of Georgia and beyond! For more information, visit www.georgiacenter.uga.edu.

Special Needs:
If you require special services, facilities, or dietary considerations, contact your event coordinator, Nette Penn at 706-542-6658 or Nette.Penn@georgiacenter.uga.edu prior to January 17, 2007.

Lodging (Georgia Center Hotel):
A block of rooms is being held for your conference until 5:00 p.m. ET, January 5, 2007. Policies: (1) Tax Exemption — The State of Georgia only allows tax-exempt charges for a payment by a state-issued credit card or check or by a direct bill to a state agency (with a Georgia State Tax Exemption Certificate). (2) Lodging Cancellation — Cancel your reservation by 4:00 p.m. ET the day prior to your scheduled arrival to avoid being charged one night's room and tax. (3) At check-in, you must present your credit card or a completed credit card authorization form (for a copy, call 800-884-1381, Mon.-Fri., 8:00 a.m. to 5:00 p.m. ET). Note: The Georgia Center is a smoke-free building; all lodging rooms are nonsmoking.

Travel Information:
Athens, Georgia, is located about 60 miles northeast of Atlanta. For directions, see www.georgiacenter.uga.edu/conferences/about/directions.phtml. A parking deck is located adjacent to the Center (hourly rates, maximum $8 each 24-hour period; vehicle height limit, 7 feet). Athens is served by two airports. Athens-Ben Epps Airport offers connecting flights to and from Charlotte, NC. Hartsfield-Jackson Atlanta International Airport is located about 90 minutes southwest of Athens, with scheduled ground shuttle service and rental car service available between the airport and the Georgia Center.

Program Cancellation Policies:
(1) Full refunds are available for cancellations made by 5:00 p.m. ET, January 15, 2007. No refunds will be issued thereafter; substitutions will be allowed. (2) If a program is cancelled for any reason, the Georgia Center will not be responsible for any charges related to travel. (3) If for unforeseen and unavoidable circumstances an instructor is unable to attend, the Georgia Center reserves the right to substitute a comparable instructor.