The Timberland Asset: The Long Term Investment for the Bright Green Future
(Password required, contact Bob Izlar at (706) 542-6819 or firstname.lastname@example.org)
February 27th – March 1st
The Ritz-Carlton, Amelia Island, FL
The Center for Forest Business is pleased to announce the dates and location for the 2013 Timberland Investment Conference. The conference will be held at the Ritz-Carlton located on Amelia Island, Florida and will take place from February 27th – March 1st, 2013.
The conference, as always, will cover a wide array of timberland investment topics and will focus on achieving investment efficiency in a market-oriented system, among other things. Participants will learn to make the most prudent timberland investment decisions involving the process of purchasing, managing and divesting a tract of timberland.
Conferences attendees will include public and private pension funds, private investors, family offices, fund of funds, REITs, private consultants, large landowners, TIMOs, and forest product companies. This diverse attendance base offers participants the ability to learn about every facet of the timberland business and network with representatives from each of these various organizations.
Registration is open for what we believe will be one of the most important conferences yet, as the industry begins to strengthen and as more and more investment opportunities become available throughout the sector.
Past Conference Reviews
“The University of Georgia’s Center for Forest Business does a superb job attracting a diverse, relevant, and pragmatic group of speakers to its timberland investment conferences. Furthermore, these events attract a broad array of institutional investors, from the US and elsewhere, interested in the timberland asset class.”
–Chris Zinkhan – CEO, The Forestland Group
“TIR has been a supporter of the UGA timberland conferences over the years for a number of reasons. First, as a University, speaking engagements are granted based on the expectation that speakers will provide timely and informative educational materials for timberland investors – these conferences are not a series of sales pitches. As a consequence, the UGA conferences tend to be well attended and informative. Also, UGA conferences further the research and educational goals of the Warnell School of Forest Resources. As the leading Forest Finance university in the world, the research and educational programs produced by the university are critical. This mission is embraced by the timberland investment community and investors that are concerned about the long term strategic issues impacting the asset class. These conferences are a way for those professionals to network with industry leaders as well as their peers to learn about the latest developments in the industry.”
–Tom Johnson – Managing Director, Timberland Investment Resource
Tuesday, February 26th
8:00 a.m. – 9:00 a.m. Continental Breakfast hosted by Rayonier, Eight Sports Lounge
9:00 a.m. – 4:00 p.m. Timberland Investment Tour hosted by Rayonier
5:00 p.m. – 7:00 p.m. Registration, Talbot Prefunction
Wednesday, February 27th
10:00 a.m. – 5:00 p.m. Registration, Talbot Prefunction
1:30 p.m. – 1:45 p.m. INTRODUCTION AND WELCOME, Talbot A-D
- Moderator: Bob Izlar, Director, Center for Forest Business, University of Georgia
- Dr. Mike Clutter, Dean and Hargreaves Distinguished Professor of Forest Finance, Warnell School of Forestry & Natural Resources, University of Georgia
1:45 p.m. – 3:30 p.m. THE ECONOMY AND TIMBER INVESTMENTS, Talbot A-D
- Moderator: Dr. Chris Zinkhan, The Forestland Group, LLC
- The Recovery in Homebuilding and Remodeling: Good News for Forest Products, Dr. Kermit Baker, Harvard University’s Joint Center for Housing Studies
- Building a House of Cards, Danielle DiMartino, Federal Reserve Bank of Dallas
- Growing Value in Everything We Do, Paul Boynton, Chairman, President & CEO, Rayonier
3:30 p.m. – 4:00 p.m. Break, Talbot Prefunction
4:00 p.m. – 5:30 p.m. INVESTMENT TRENDS IN THE CURRENT ECONOMY, Talbot A-D
- Moderator: Tim Corriero, FIA Timber Partners
- Perspectives on Current Investment Trends, Will Sonnenfeld, Brookfield Asset Management
- Timberland Investing: Beyond the Great Recession, Bob Hagler, Regions Timberland Group
6:00 p.m. – 7:00 p.m. Reception, Ocean Front Lawn
7:00 p.m. – 9:30 p.m. Buffet Dinner, Talbot E-H
Thursday, February 28th
7:00 a.m. – 8:00 a.m. Breakfast, Talbot E-H
8:00 a.m. – 9:30 a.m. LONG TERM PRIVATE FAMILY OWNERSHIP PHILOSOPHY, Talbot A-D
- Moderator: Bill Lawrence, Chairman of the Board, Superior Pine Products Company
- The Langdale Company, Valdosta, GA, Wesley Langdale
- Sessoms Timber Trust, Cogdell, GA, Dotty Porter
- Superior Pine Products Company, Fargo, GA, Andy Stone
- Toledo Manufacturing Company, Folkston, GA, Joe Hopkins
- The Varn Companies, Hoboken, GA, Will Varn
9:30 a.m. – 10:00 a.m. Break, Talbot Prefunction
10:00 a.m. – 12:00 a.m. TIMOs AND REITs: PAST, PRESENT AND FUTURE, Talbot A-D
- Moderator: Clark Binkley, GreenWood Resources, Inc.
- Mary Ellen Aronow, Hancock Timber Resource Group
- Land Trusts and TIMOs and REITs, Oh My!, Chris DeForest, Inland Northwest Land Trust, Brian Kernohan, Hancock Timber Resource Group
- How Land Market and Industry Trends Influence International Timberland Investing, Jon Caulfield, Regions Timberland Group
12:00 p.m. – 1:30 p.m. Lunch, Talbot Colonnade
1:30 p.m. – 2:30 p.m. Breakout Session 1: MARKET TRENDS, Talbot A
- Moderator: Jack Lutz, Forest Research Group
- What Are the Impacts of the Recovery in Housing Markets on NA Solid Wood Product and Timber Markets?, Rocky Goodnow, Forest Economic Advisors
- What Do the Market Trends Mean for Your Timberland?, Jack Lutz, Forest Research Group
- Private vs. Public Timberland Investments, Mark McHugh, Raymond James
1:30 p.m. – 2:30 p.m. Breakout Session 2: YOUNG STAND APPRAISAL: CHALLENGES AND OPPORTUNITIES, A ROUNDTABLE DISCUSSION, Talbot D
- Moderator: Dr. Mike Clutter, Dean and Hargreaves Distinguished Professor of Forest Finance, Warnell School of Forestry and Natural Resources
- Bret Vicary, James W. Sewall Company
- Brian Stone, Forest Resource Consultants
- Jeff Wikle, TerraSource Valuation, LLC
2:30 p.m. – 3:00 p.m. Break, Talbot Prefunction
3:00 p.m. – 5:30 p.m. Breakout Session 3: THE ROLE OF IT IN TIMBERLAND INVESTMENT, Talbot A
- Moderator: Russell Combs, Orbis Inc.
- The Use of Technology to Support Due Diligence, Tiffanie Starr, Hancock Timber Resource Group
- The Use of Technology to Support Management and Operations, Sam Rorabaugh, The Forestland Group
- The Use of Technology to Support Non-Timber Income, Chris Elwell, Timberland Investment Resources
- The Use of Technology in International Investments, Antti Mäkinen, Simosol Oy
3:00 p.m. – 5:30 p.m. Breakout Session 4: GLOBAL MARKET DRIVERS AND OUTLOOK, Talbot D
- Moderator: Brooks Mendell, President, Forisk Consulting
- India: Is it “the next China” for forest products imports? Bob Flynn, RISI
- A European Perspective: Risk Insights and Solutions for Manager and Investor (in Cooperation with Swiss Re), Christian Roeckemann, FirstForest, GmbH
- Trends in Hardwood Log and Lumber Markets, Blake Stansell, The Forestland Group
- International Wood Markets, Håkan Ekström, Wood Resources International
- World Paper Demand, Soile Kilpi, Poyry Management Consulting
6:30 p.m. – 7:00 p.m. Reception, Talbot Colonnade
7:00 p.m. – 10:00 p.m. Banquet and Keynote Speaker, Talbot E-H
- Air Force One – Personal Insights on Five U. S. Presidents, Howie Franklin, Former
Chief Steward, Air Force One
Friday, March 1st
7:00 a.m. – 8:00 a.m. Breakfast, Talbot E-H
8:00 a.m. – 10:30 a.m. Breakout Session 5: FINANCIAL AND POLITICAL REALITIES, Talbot A
- Moderator: Pete Madden, Plum Creek
- Timberland Credit Market- Is That Daylight Ahead?, Whit Hill, John Hancock
- Public Policy Risks for the Forest Supply Chain, 2013-2014, Deb Hawkinson, Forest Resources Association
- Potential Effects of Logging Capacity and Recovering Log Prices on Southern Timberland Returns, Bruce Glass, The Campbell Group
- Forest Biomass and Green Energy Policy, Roger Wright, Hawkins Wright
8:00 a.m. – 10:30 a.m. Breakout Session 6: LEGAL IMPLICATIONS OF FORESTLAND OWNERSHIP, Talbot D
- Moderator: Karen Reschley, Morris, Manning & Martin
- Essential Trends in Tax Law Related to Timberland Investment: Where We Are, Where We Have Been, Where We Are Going, Bill Bradley, Sutherland, Asbill & Brennan
- Case Study: Last Three Major Timberland Investments Made by Foreigners in Brazil- 2012, Aldo De Cresci, GCN/Advogados
- Fire & Water: Legal Developments in Fire Liability Law and the Clean Water Act, Greg Corbin, Stoel Rives
10:30 a.m. – 11:00 a.m. Break, Talbot Prefunction
11:00 a.m – 11:45 a.m. SETTING THE COURSE FOR LONG-TERM TIMBERLAND INVESTMENT, Talbot A-D
- Moderator: Jody Strickland, Weyerhaeuser, Past Chair of the Center for Forest Business Advisory Committee
- Weyerhaeuser’s Decision to Become a REIT and It’s Implications for Long-Term Investment, Dan Fulton, President and CEO, Weyerhaeuser
11:45 a.m. – 12:00 p.m. CONCLUDING REMARKS, Talbot A-D
- Dr. Mike Clutter, Dean and Hargreaves Distinguished Professor of Forest Finance, Warnell School of Forestry and Natural Resources
12:00 p.m. Adjourn
Download the TIC Agenda Final (pdf)
Senior Research Fellow
Joint Center for Housing Studies
Kermit Baker is a Senior Research Fellow at Harvard University’s Joint Center for Housing Studies, and is the Project Director of the Remodeling Futures Program. This research effort, which began in 1995, is the first comprehensive analysis of U.S. remodeling activity ever undertaken by the Joint Center. Its goal is to develop an improved understanding of the dynamics of the U.S. repair and renovation industry so that businesses can better take advantage of the opportunities that this market offers.Kermit also is the Chief Economist for the American Institute of Architects in Washington, D.C. In this capacity he analyzes business and construction trends for the U.S. economy, and examines their impact on AIA members and the architectural profession.Prior to joining the Joint Center, Kermit was vice-president and director of the economics department at Reed Business Information where he was responsible for industry forecasting. During his ten years at Reed Business Information he developed the Top U.S. Construction Market Report and served as editor of the Building and Construction Market Forecast newsletter.
Kermit received his master’s degree in urban planning from Harvard University, and holds a Ph.D. from Massachusetts Institute of Technology in the same field. In 2006, Kermit was inducted into the National Remodeling Hall of Fame by the National Association of Home Builders
Paul G. Boynton
Chairman, President and Chief Executive Officer
Paul Boynton was elected President and Chief Executive Officer of Rayonier on January 1, 2012, and became Chairman of the Board in May 2012. He most recently served as President and Chief Operating Officer and was elected to the Board of Directors in February 2011. He joined Rayonier in April 1999 as Director, Performance Fibers Marketing and Sales and became Senior Vice President, Performance Fibers in 2002. Prior to Rayonier, Boynton held various management positions with 3M from 1990-1999 with his last assignment as Global Brand Group Manager, Home Care Division.
Boynton holds a Bachelor of Science in Mechanical Engineering from Iowa State University, a Master of Business Administration from the University of Iowa and graduated from the Harvard University Graduate School of Business Advanced Management Program.
Boynton serves on the Board of Directors of the National Alliance of Forest Owners and the Board of Governors of the National Council for Air and Stream Improvement. He is also a director of The Brinks Company, a global security services company with operations in more than 50 countries.
Boynton resides in Jacksonville with his wife Shelly and their three sons.
Federal Reserve Bank of Dallas
Danielle DiMartino Booth is a Senior Financial Analyst & Advisor on monetary policy to Dallas Federal Reserve President Richard W. Fisher. She researches, writes and speaks about the intersection and interaction of the economy and the financial markets. Danielle speaks to audiences nationwide about the origins of the housing and credit crises. Her current speech focuses on the implications of the interruption of the housing market correction and why it impinges the economic recovery.
Danielle’s most recent written work is The Fallacy of a Pain-Free Path to a Healthy Housing Market. In addition, she has written Fed Policy in the Financial Crisis: Arresting the Adverse Feedback Loop, Fed Intervention: Managing Moral Hazard in Financial Crises and From Complacency to Crisis: Financial Risk Taking in the Early 21st Century, co-authored with Dallas Fed Director of Research Harvey Rosenblum, as well as The Rise and Fall of Subprime Mortgages and Fed Confronts Financial Crisis by Expanding its Role as Lender of Last Resort, co-authored with Dallas Fed Senior Policy Advisor, John Duca.
Prior to joining the Dallas Fed, Danielle wrote for the Dallas Morning News from 2003 to 2006 as a business columnist. Her daily column on the economy and financial markets, with a particular emphasis on the housing market, gained a global audience.
Before moving to Dallas, Danielle was Vice President at Credit Suisse in New York City from 1996 to 2002 where she worked in the fixed income, public equity and private equity markets.
Danielle was a College of Business Scholar at the University of Texas at San Antonio, where she earned her BBA. She also holds an MBA in Finance and International Business from the University of Texas at Austin and an MS in Journalism from Columbia University.
Danielle resides in University Park, Texas, is married to John Allen Booth, Sr. and mother to three sons and a daughter.
Daniel S. Fulton
President and CEO
Dan Fulton was elected chief executive officer and a member of the board of directors in April 2008. He has been president of Weyerhaeuser Company since January 2008. From May 2001 until March 2008 he was president and chief executive officer of Weyerhaeuser Real Estate Company, a wholly owned subsidiary of Weyerhaeuser Company.
Mr. Fulton is on the board of NAREIT (the National Association of Real Estate Investment Trusts). He is chair of the Washington State Roundtable, a member of the Business Roundtable, and the chair of the Business Roundtable’s Housing Subcommittee. Dan is also a member of the Advisory Board for the Foster School of Business at the University of Washington, and past chair of the Policy Advisory Board of the Joint Center of Housing Studies at Harvard University.
Fulton graduated with a bachelor of arts degree in economics from Miami University (Ohio) in 1970. He received a master of business administration degree in finance from the University of Washington in 1976, and he completed the Stanford University Executive Program in 2001.
U.S. Air Force, Retired.
Howie Franklin flew and served with five presidents on Air Force One and is the only person to do so. Howie tells fascinating and funny insider stories about the presidents and dignitaries, always speaking with the greatest respect. These wonderful, unique stories appeal to all audiences. Serving in the United States Air Force as the head flight attendant for AF-1 is quite different from how we normally perceive that job title in aviation. Howie had many important responsibilities dealing with security, critical timetables, unusual requests and specific details. He was on ‘hugging’ terms with most of the first families and saw them at the best and worst of times. Howie tells about the unique characteristics of the Air Force One planes in addition to passengers. Retiring from the Air Force, he’s airport manager for The Little Airport with the Big Heart.
Timberland Investment Tour hosted by Rayonier
On Tuesday, February 26th there will be a pre-conference timberland investment tour hosted by Rayonier. The tour will visit nearby Rayonier tracts of land, where Rayonier professionals and Warnell professors will discuss different areas of sustainable timberland management.The tour will visit different sites and at each stop, we will discuss forestry issues such as active harvesting, log merchandising, silvicultural practices, plantation forestry, and commercial thinning. Rayonier officials, along with Warnell professors, will discuss the importance of each aspect of timberland management from a sustainable, financial, and ecological point of view.The tour will take place from 9:00AM-4:00PM and will depart from and return to The Ritz-Carlton. There will be a safety message during breakfast at 8:30 by John Enlow and please remember to wear appropriate apparel for being outside and on tour. There will be two tours running simultaneously. All participants will visit all of the sites. You will be assigned to Tour A or B. See the schedules below.
* Please note stops could change due to weather and harvest site options
Tour Stops: A
1. 7:45 – Breakfast at Ritz Carlton
2. 8:30 – Safety message – John Enlow-USFR
3. 8:45-9:00– Loading time and depart Ritz Carlton for RYN Nassau Properties
4. 10:10 – 10:45 – Culture Density Study West of Callahan, FL-Jim Gent/Mark Hebert-USFR
a. Planting Density and Impacts on Height, Diameter, Product Dist, Volume
b. Operational vs. Max Culture
c. Biomass Regimes
5. 11:15-11:45– Harvesting Site- Charlie Pringle-USFR
a. Site Specifics – Stand Silviculture History, Site Index, BA
b. Utilization & Merchandising
c. Timber Markets
d. Mobile Load Tracking & Implications for Management
6. 12:15 – 1:00– Lunch- Crandall Pavilion on St. Mary’s River – Rayonier will provide lunches
7. 1:00 – 1:20 – RYN’s Non-Timber Business- Alejo Barbero-USFR
8. 1:40 – 2:15 Real Estate Discussion- Crandall Bluffs – Dan Camp with Terra Pointe Services (TSI)
a. Real Estate Strategy- High Level Review
b. Market Based Approach for Creating Value
c. Entitlement Progress- ENCPA, Crawford Diamond, and Bryan County)
d. Coordination with Forestry Activities
e. Uniqueness of the East Nassau Property
9. 2:25-2:55 – Seed Orchard/Genetics-Josh Sherrill-USFR
a. Tree Improvement Process-Selection, Breeding, Testing
b. Seed Orchards- Purpose, Management, and Design
c. Mass Production- Open Pollinated & Control Pollinated Families
10. 3:00– Conclude Tour & Return to Ritz Carlton
Download the Rayonier_Tour_Schedule2-20.pdf
Media & Press
January 10, 2013: Southem
Podcast: Bob Izlar on the Timber Investment Conference 2013