8:00 - 9:00 a.m.
Registration
Members' Continental Breakfast
(Woodland A & B)

8:00 - 8:45 a.m.
Mentors meet with students, concurrent

9:00 - 9:10 a.m.
Welcoming Remarks:
(Woodland A & B)
Michael Fascitelli, President and CEO, Vornado Realty Trust and Chairman, Zell/Lurie Real Estate Center

9:10 - 9:40 a.m.
"State of the Center"
Joseph Gyourko, Martin Bucksbaum Professor of Real Estate and Finance, The Wharton School, Director, Zell/Lurie Real Estate Center
Asuka Nakahara, Associate Director, Zell/Lurie Real Estate Center

9:40 - 10:50 a.m.
“The Economy and the Property Markets: A Look Forward from Wharton's Senior Economists”
(Woodland A & B)
Panel Session: Is the recovery really here? If so, what is it going to look like and will real estate investors like it? Is inflation coming back soon? What are the prospects for the different property sectors, as well as various markets in the United States and around the globe? Three senior economists from Wharton discuss these and other issues.
Moderator: Todd Sinai, Associate Professor of Real Estate and Business & Public Policy, The Wharton School
Panelists:
Joseph Gyourko, The Wharton School, University of Pennsylvania
Peter Linneman, The Wharton School, University of Pennsylvania
Susan Wachter, The Wharton School, University of Pennsylvania

10:50 - 11:10 a.m.
BREAK

11:10 a.m. - 12:10 p.m.
Farash Distinguished Lecture
(Woodland A & B)
Farash Lecturer: Austan Goolsbee, member of the Council of Economic Advisers and staff director and chief economist of the President's Economic Recovery Advisory Board
Titile: "Crisis and Recovery"

12:10 - 1:25 p.m.
LUNCH
(Regent–St. Marks)

1:25 - 2:20 p.m.
“The New Alphabet Soup of Regulation: What Will This Mean for You?”
(Woodland A & B)
Panel Session: Participants will discuss how and if the explosion of governmental programs are working. Are they the answer to a problem, just answers, or the cause of more problems?
Moderator: Peter Linneman, Sussman Professor of Real Estate & Finance, The Wharton School
Panelists:
Keith F. Barket, Senior Managing Director, Angelo Gordon & Co.
Jeffrey D. DeBoer, President and CEO, Real Estate Roundtable
Susan Stiehm, Deputy Policy Advisor, Markets Group, Federal Reserve Bank of New York

2:20 - 2:40 p.m.
BREAK

2:40 - 3:40 p.m.
“Where Will the Capital Come From and How Will it be Used?”
(Woodland A & B)
Panel Session: Who is supplying capital today? Why and under what terms? What are investor needs and intentions? What are conditions in the debt and equity markets and what are they going to look like into 2010? What does a sensible capital structure look like going forward? How is real estate likely to be viewed by the public and private capital markets going forward?
Moderator: Joe Gyourko, Martin Bucksbaum Professor of Real Estate and Finance, The Wharton School, Director, Zell/Lurie Real Estate Center
Panelists:
Terrance R. Ahern, Principal, Founder and CEO, The Townsend Group
Peter E. Baccile, Vice Chairman, JPMorgan Securities Inc.
David Twardock, President, Prudential Mortgage Capital Company

3:40 p.m.
Closing Comments
Michael Fascitelli, President and CEO, Vornado Realty Trust and Chair, Zell/Lurie Real Estate Center