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Fertilizer prices, lumber demand, and interest rates - these and other factors, such as energy prices, affect the actual and expected costs and returns of managing forests, timberland investments, and wood-using facilities. This course teaches approaches for reducing uncertainty associated with forest management budgets, timberland investments, and procurement activities. Upon completion of this course, you should be able to:

• Identify and rank the risks associated with forest management and timberland investing activities
• Develop a risk management plan with readily available strategies and tools
• Understand — and apply — futures contracts and market-based wood supply agreements to manage price risk

Forest resource professionals, timberland owners, realtors, and timberland investment managers involved in the buying and selling of timber and timberland, and in the development of forest management plans and budgets.

This course follows a seminar-and-case-study format, with the introduction of key concepts and frameworks followed by class discussion of case studies. Students will have opportunities to ask about risk management situations in their forestry activities. Handouts will summarize the materials covered, including references for the most current and relevant data.

The fee for this course is $445, which includes lunches, refreshment breaks, and instructional materials. There is a $50 discount for fees paid by check or credit card prior to January 30, 2008. Preregistration must be accompanied by a check, purchase order, or credit card number to guarantee a place in the course. Seating is limited.

Dr. Brooks Mendell is principal and founder of Forisk Consulting and publisher of the Wood Demand Report. Dr. Mendell has more than 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, in management consulting with Accenture, and as a faculty member at the University of Georgia. He has published more than three dozen articles in academic and trade journals on topics related to timber market analysis, forest finance, risk analysis in forestry, and communication skills. He serves on the boards of directors of the Georgia Forestry Association and the Southeastern Wood Producers Association. Dr. Mendell 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 is a forest economist with Forisk Consulting, where he leads research and analysis projects associated with timber and timberland markets. Dr. Sydor'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 at UGA. Currently, his research and consulting include the application of econometric techniques to study factors driving timber and timberland markets. Dr. Sydor presents on topics related to forestry investments, property valuations, and residual wood flows from wood-using facilities. He earned a BS in forestry at the National Agricultural University of Ukraine, an MS in forest economics at Purdue University, and a PhD in forest economics at UGA.

• 12 Continuing Forestry Education (CFE) hours — Category 1
• 12 Continuing Logger Education (CLE) hours — Business Management
• 14 hours of Georgia Real Estate Appraisers Board credits will be applied for — also accepted by the Georgia Real Estate Commission when approved

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 2008 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 e-mail her at 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.

Now Available Online! Forestry Ethics Online Course

Now you can complete the one-hour Forestry Ethics Online Course from the comfort of your home or office. Register today for this self-paced, self-study program and earn CFE credit! Go here for more details: www.georgiacenter.uga.edu/is/forestry

The Georgia Center for Continuing Education Conference Center & Hotel, located on the beautiful, historic campus of the University of Georgia in Athens, Georgia, provides outstanding educational programs and services for lifelong learners. A total living and learning environment, the Georgia Center includes a 200-room hotel, restaurants, banquet areas, conference rooms, auditoriums, a fitness center, and a computer lab — 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 February 13, 2008.

Lodging (Georgia Center Hotel):
A block of rooms is being held for your conference until 5:00 p.m. ET, January 29, 2008. 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, February 11, 2008. No refunds will be issued thereafter; substitutions will be allowed. (2) If a course 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.