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LAST UPDATED: Wednesday, December 27 2006
08:00 Registration/Breakfast/Exhibits Open Breakfast sponsored by:  09:00 Welcoming Remarks: Conference Chair Beth Coolidge, Senior Vice President, LEHMAN BROTHERS 09:05 Opening Keynote Address Carole Brown, Chairman, CHICAGO TRANSIT AUTHORITY 09:30 ROLLING WITH THE PUNCHES: THE CHANGING ECONOMY As global problems continue to dampen the U.S. economy, factors closer to home are driving local economies into a serious slowdown. Large-scale job losses in auto manufacturing and a slowing housing market are depriving government of tax revenue. We'll hear experts discuss how long these factors are expected to weigh down state and local economies, and how prolonged trends might affect government operations and debt issuance. Moderator: Beth Coolidge, Senior Vice President, LEHMAN BROTHERS Panelists: Kristin Stephens, Vice President of Municipal Credit Analysis, JP MORGAN Jonathan North, Vice President, MOODY'S John Hallacy, Managing Director, MERRILL LYNCH 10:15 Coffee/Networking Break sponsored by:  10:45 PRIVATIZATION: THE ROLE OF THE GREAT LAKES STATES As many states and local government entities around the nation are now looking into ways to infuse large sums of private investment capital into their operating budgets and to expedite projects, Chicago and vicinity have been boldly out front in exploring the possibilities. Toll roads, airports, lotteries, student loans, parking garages – all are drawing consideration for concession. We'll hear from forerunners in this growing sector about how privatization is becoming such an attractive alternative to traditional bond financing, and get their thoughts about where it's headed. While privatization is the word of the day in the Midwest, what is its life expectancy and how many assets exists that can truly be targeted? What role will politics and public perception ultimately play in this emerging frontier? Moderator: Carlos Pineiro, Vice President, GOLDMAN SACHS Panelists: Ray DiPrinzio, Director, CIFG Joe Seliga, Associate, MAYER BROWN ROWE & MAW Michael Gurgone, Treasurer, CHICAGO HOUSING AUTHORITY Richard Langberg, Director of Public Finance, MBIA 12:00 Luncheon sponsored by:  01:00 UTLIZING TAXABLE BOND STRUCTURES This panel will discuss various structures for taxable bonds to help municipal issuers meet their OPEB, POB and other taxable financing needs. Included in this discussion will be marketing and structuring ideas to make a bond financing appealing for the growing European and international bond investor community. We will also hear some ideas on the investment of the bond proceeds to reduce reinvestment risk to the issuer. Moderator: Marnin Lebovits, Managing Director, DEPFA Panelists: Laura Wheeler, Partner, NIXON PEABODY Jane Russell, Director, DEPFA David Noack, Senior Vice President, STIFEL NICOLAUS & CO INC. Erik Kass, Comptroller, SCHOOL DISTRICT OF WUAKESHA, WISCONSIN 02:00 SWAPS 101 : OPTIMIZING YOUR DEBT STRUCTURE As the municipal derivatives market continues to stretch its legs, some issuers say there is no going back to a liability structure that doesn't include swaps. We'll hear about the basics of muni derivatives and why more and more issuers are using them, about the policies that should be put in place, and about using the flat yield curve environment to your advantage. Moderator: Pat Sandercock, Relationship Manager, HARRIS NESBITT Panelists: Joseph Costello, Chief Financial Officer, REGIONAL TRANSPORTATION AUTHORITY Harvey Zachem, Director, FGIC Marko Issever, Managing Director, BANK OF NEW YORK 03:00 Refreshment Break 03:15 THE VALUE OF MAINTAINING INVESTOR RELATIONS Going to market is not the only time you should be thinking about the investor community. Some regular and frequent issuers throughout the country have decided to devote steady time and energy to investor relations. Who owns your paper? Who returns phone calls to the rating agencies, analysts and buyers? Are you showing investors what you're doing with the money after an issue? How much time and money can you save on road trips and other related costs by using electronic disclosure? We'll learn how these steps will improve your entity's standing in the investment community and how much better your bonds will trade. Moderator: Kathy Evers, Managing Director, ASSURED QUARANTY Panelists: Edward Damutz, Vice President, Senior Analyst, MOODY'S John Brodzik, Group Head of Research, ALLSTATE INVESTMENTS, LLC 04:15 RATINGS RAMIFICATIONS OF OPEBS Following initial disclosure, rating agencies are going to look at individual OPEB liabilities, as well as a government entity's plan to fund and manage it. We'll hear about how existing as well as future credits can be affected by your liability, and how issuing bonds can influence ratings. Moderator: Robert Larkins, Managing Director, LEHMAN BROTHERS Panelists: John Kenward, Director, STANDARD & POOR'S Richard Ciccarone, Managing Director, McDONNELL INVESTMENT MANAGEMENT 05:15 Cocktail Reception sponsored by:  07:00 Speakers' Dinner hosted by:  LAST UPDATED: Wednesday, December 27 2006
08:30 Registration/Breakfast/Exhibits Open 09:00 HEDGING AGAINST A VOLATILE ENERGY MARKET The volatile nature of the current energy market has created a need for an effective means to manage risk in this unpredictable market. While the overall economy continues to hold its own, history has shown that higher oil prices and disruptions in oil production tend to adversely affect the economy and raise the costs of other forms of energy. Soaring oil costs, increased demand throughout the world, and a lack of any viable fuel-saving technologies in the near future, have some forecasting that energy will have a negative impact on state and local issuer credits. This panel will explore effective means to hedge risk in the energy market.What are some risk management instruments available? What are the pros and cons of these instruments? What can you do to decrease risk, widen margins, and increase pricing flexibility? Moderator: Brennan Higgins, Vice President of Commodity Products, BMO CAPITAL MARKETS Panelists: Townsend Albright, Senior Funding Manager, ILLINOIS FINANCE AUTHORITY 10:00 INNOVATIONS IN PUBLIC HOUSING How are municipalities adjusting to the ever changing and growing need for public housing? What have government agencies and not-for-profit companies done to adjust for the changing times? Our panel will explore in depth some of the innovations and ideas that are helping the elderly and the low income family find a place to call home. Moderator: Beth Coolidge, Senior Vice President, LEHMAN BROTHERS Panelists: Bridget O'Keefe, Partner, MICHAEL BEST & FRIEDRICH LLP Leslie Richards-Yellen, Partner, MICHAEL BEST & FRIEDRICH LLP Marc Oberdorff, Partner, MICHAEL BEST & FRIEDRICH LLP Jill Rendleman, Interim Executive Director, ILLINOIS FINANCE AUTHORITY 11:00 FUNDING VEHICLES AND COST CONTAINMENT STRATEGIES We'll take a look at basic trust structures, including 401(h), Section 115 and VEBA, as well as legal requirements for trusts in your state. In addition, we'll hear about how to keep benefit costs down, and about possible modifications your municipality might consider regarding benefit levels, eligibility, retirement and early retirement. Moderator: Michael Bartsch, Director, CIFG Panelists: Geoff Kuhn, Principal, CCA STRATEGIES Eric Paley, Counsel, NIXON PEABODY Paul Maco, Partner, VINSON & ELKINS, LLP 12:00 IMN's Fifth Annual Great Lakes Public Finance Conference Adjourns | |||||||||||||||||||||||||||
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