2008 Forum
Friday, April 4, 2008
8:00 am - 4:00 pm
Reynolds Alumni Center/Cornell Hall, Columbia, Missouri
Founded in 2005, the Jeffrey E. Smith Institute of Real Estate was established in the University of Missouri's Trulaske College of Business to help prepare students pursuing careers or interested in learning more about commercial real estate development and management. As an integral part of the college, the Institute addresses the rising demand and popularity for a real estate curriculum and provides specific courses permitting students to specialize their business degrees with a real estate emphasis.
Current financial turbulence in the United States, as a result of the troubled subprime mortgage market, has had a broad impact on the real estate market. The effects of this instability has caused serious consequences to the overall economy. These and other issues will be addressed by our speakers creating an environment that allows students to meet business professionals and discuss current events.
Live Video Conference plus Student Q&A with Warren Buffett
Warren Buffett
Chairman & CEO
Berkshire Hathaway
Warren Buffett is Chairman of the Board and Chief Executive Officer of Berkshire Hathaway Inc., a holding company controlled by him since 1965. Berkshire Hathaway has 73 operating businesses, with its largest source of earnings arising from property-casualty insurance and reinsurance. It also owned common stocks with a value of $61 billion at yearend 2006.
Featured Speakers
Morning Address
Bill Emmons, PhD
Federal Reserve Bank of St. Louis
Download Presentation (2.8MB, PowerPoint)
Bill Emmons is the Senior Economist & Manager for the Division of Banking Supervision and Regulation at the Federal Reserve Bank of St. Louis. He carries out research and policy analysis in the areas of banking, financial markets and financial regulation. He also serves as an Adjunct Professor of Finance in the John M. Olin School of Business at Washington University in St. Louis.
Dean Schwanke
Urban Land Institute, Washington, D.C.
Dean Schwanke is the Senior Vice President of Publication and Awards in the Information Group at the Urban Land Institute in Washington, DC. He oversees the work of research directors and personnel who manage research, book development projects, awards and information service programs.
Lunch Address
Dennis Scurletis
ScurlyDog Capital, LLC
Dennis Scurletis is the Managing Member of ScurlyDog Capital, LLC and former Managing Director and Global Head of the Listed Derivatives Business for Morgan Stanley, including Equity, Fixed Income, Commodity and FX Futures. Mr. Scurletis joined Morgan Stanley in 1995 and was named Managing Director in 1996. He currently serves on the board of the Futures Industry Association.
Break-Out Sessions
Four break-out sessions featuring experienced speakers including:
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Jennifer Marler Sonnenschein Real Estate Group
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Charles Zimmerman Wal-Mart
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Bryan Pratt Missouri House of Representatives
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Mark Mundahl United Properties
Outsourcing Real Estate Services
Although brokerage, architectural, engineering, legal and many other real estate related services have been outsourced by companies for years, many of the core real estate management functions have tended to remain internal. As with all outsourcing opportunities, companies are now looking at their core competencies and determining where they should focus their resources vs. functions. This session covers the latest practices in outsourcing, including: site modeling, turnkey project management, facilities management and portfolio administration. Learn how companies like Buxton, Colliers and United Properties are providing their clients with services that add value to their clients’ companies as well as provide them with the flexibility to expand and contract with their own business cycles.
Download Presentation
(9.6MB, PowerPoint)
Objectives:
- Learn what services are provided
- Learn how value is added to clients
- Understand what the biggest obstacles are to overcoming internal resistance to outsourcing
Panelists:
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Brian Ungles Senior Vice President, Colliers Turley Martin Tucker
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Keith Politte Senior Vice President, Principal, Colliers Turley Martin Tucker
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Mark Mundahl Senior Vice President, United Properties
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Alex Cannon Director of Sales, Buxton Company
Private Development With Public Incentives
Join us for an interactive workshop as we outline strategies for adding value to private development by taking advantage of available public incentives. Participants will analyze a proposed large-scale development project and evaluate how the developer can rely on incentives to enhance value. We will take you down the critical path of an incentive-driven development and discuss the key business points for all parties involved in a complex development.
Download Presentation
(2.4MB, PowerPoint)
Objectives:
- Understand what types of public incentives are available for real estate development and when they can be best utilized
- Understand the critical path for structuring and implementing a complex public/private development project
- Understand the key business issues that each party should address in the project documents
Panelists:
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Jenny Marler Sonnenschein Real Estate Practice Group
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Marian Nunn Chief Operating Officer, THF Realty
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Karen Jordan Associate, Sonnenschein Corporate Practice
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Laura Mirkin Director, Public Finance Department, Wachovia Securities
Sustainability Pays
This session will focus on the value of sustainable development, sustainable practices and a compilation of real life examples. We will discuss the "whys", "hows" and "whats" of creating true financial value, while endeavoring to improve the condition of our environment and the quality of our lives.
Objectives:
- Learn the value of a functioning building and landscape
- Understand the emerging value metrics on sustainable real estate, evidence of consumer demand for sustainable properties and funding opportunities
- Analyze a case study from Wal-Mart on the real life examples of financial benefits/paybacks of numerous retrofits and new installations undertaken in the last year
Panelists:
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Charles Zimmerman Vice President of Prototype & New Format Development, Wal-Mart
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Leanne Tobias Principal, Malachite LLC
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Teresa Durkin Senior Sustainable Designer, HOK Atlanta
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Tim Gaidis Senior Designer, HOK St. Louis
Eminent Domain
On June 23, 2005, the United States Supreme Court, in the case of Kelo vs. New London upheld eminent domain for economic development purposes as a "public purpose" under Connecticut’s statute. The court emphasized that "nothing in our opinion precludes any State from placing further restrictions on its exercise of the taking powers."
HB 1944 signed by Governor Matt Blunt in 2006 reformed Missouri's Eminent Domain law. The legislation provides protection for property owners, while still permitting projects that are beneficial to the public.
Objectives/Key Provisions of the HB 1944:
- Discuss the use of eminent domain for economic development, enhancing tax revenue or transferring private property to another private entity
- Analyze additional criteria for designating blighted areas subject to eminent domain
- Define what constitutes public use
- Discuss the need to strengthen public notice, public hearing and landowner negotiating criteria and requiring local government approval before condemning property
- Discuss the need to place a moratorium on the use of eminent domain for a specified time period and establishing a task force to study the issue and report findings to the legislature
Panelists:
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Bryan Pratt Speaker ProTem, Missouri House of Representatives
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Anthony Martin Ombudsman, State of Missouri Government
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Dale Whitman Professor of Law, University of Missouri
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Sam Goldman Director of the Smith Institute of Real Estate, University of Missouri
Sponsors
Last Edited: 3/9/2009