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	<title>AMSYSCO Post Tension Blog &#187; Construction</title>
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	<description>Post-Tensioning for Concrete Contractors, Structural Engineers and Architects</description>
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		<title>Case Study &#8211; Small Business and Social Media</title>
		<link>http://www.amsyscoinc.com/blog/2011/03/02/case-study-small-business-and-social-media/</link>
		<comments>http://www.amsyscoinc.com/blog/2011/03/02/case-study-small-business-and-social-media/#comments</comments>
		<pubDate>Thu, 03 Mar 2011 05:49:57 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Construction]]></category>
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		<description><![CDATA[Case Study – Social Media Small Business </p> View more presentations from Amsysco, Inc. <p></p> <p>____________________________________________</p> Copyright © 2011 by AMSYSCO, Inc. All rights reserved. <span style="color:#777"> . . . &#8594; Read More: <a href="http://www.amsyscoinc.com/blog/2011/03/02/case-study-small-business-and-social-media/">Case Study &#8211; Small Business and Social Media</a></span>]]></description>
			<content:encoded><![CDATA[<div id="__ss_7128794" style="width: 425px;"><strong style="display: block; margin: 12px 0 4px;"><a class="vt-p" title="Case Study – Social Media Small Business" href="http://www.slideshare.net/amsysco/case-study-social-media-7128794">Case Study – Social Media Small Business</a></strong> <object id="__sse7128794" width="425" height="355"><param name="movie" value="http://static.slidesharecdn.com/swf/ssplayer2.swf?doc=casestudysocialmedia-110302233310-phpapp01&amp;stripped_title=case-study-social-media-7128794&amp;userName=amsysco" /><param name="allowFullScreen" value="true" /><param name="allowScriptAccess" value="always" /><embed type="application/x-shockwave-flash" width="425" height="355" src="http://static.slidesharecdn.com/swf/ssplayer2.swf?doc=casestudysocialmedia-110302233310-phpapp01&amp;stripped_title=case-study-social-media-7128794&amp;userName=amsysco" name="__sse7128794" allowscriptaccess="always" allowfullscreen="true"></embed></object></p>
<div style="padding: 5px 0 12px;">View more <a class="vt-p" href="http://www.slideshare.net/">presentations</a> from <a class="vt-p" href="http://www.slideshare.net/amsysco">Amsysco, Inc.</a></div>
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<p>____________________________________________</p>
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		<title>Construction Outlook 2011</title>
		<link>http://www.amsyscoinc.com/blog/2011/01/31/construction-outlook-2011/</link>
		<comments>http://www.amsyscoinc.com/blog/2011/01/31/construction-outlook-2011/#comments</comments>
		<pubDate>Mon, 31 Jan 2011 17:38:46 +0000</pubDate>
		<dc:creator>rkhosa</dc:creator>
				<category><![CDATA[AMSYSCO News]]></category>
		<category><![CDATA[Economy]]></category>
		<category><![CDATA[construction]]></category>
		<category><![CDATA[economy]]></category>
		<category><![CDATA[outlook]]></category>

		<guid isPermaLink="false">http://www.amsyscoinc.com/blog/?p=1923</guid>
		<description><![CDATA[<p>It’s the time of the year to reflect on business and economy; the recent past and what lies ahead.  With the challenges of 2008, 2009 and 2010 in the history books, one wonders what 2011 is going to be like.</p> <p>In trying to understand various indicators, I believe the US economy has morphed into a <span style="color:#777"> . . . &#8594; Read More: <a href="http://www.amsyscoinc.com/blog/2011/01/31/construction-outlook-2011/">Construction Outlook 2011</a></span>]]></description>
			<content:encoded><![CDATA[<p>It’s the time of the year to reflect on business and economy; the recent past and what lies ahead.  With the challenges of 2008, 2009 and 2010 in the history books, one wonders what 2011 is going to be like.</p>
<p>In trying to understand various indicators, I believe the US economy has morphed into a bull and bear dual-economy.  The bull is the overall US economy and the bear is the construction economy.</p>
<p><span style="text-decoration: underline;">US ECONOMY</span></p>
<p>The overall US economy is growing.  The much-talked double dip recession has not happened.  After a robust third &amp; fourth quarter of 2010, the economy is poised to continue growth into 2011.  I expect GDP will grow 2.4% in 2011.  Many companies were able to enhance their profits in 2010 through cost-cutting measures.  After curbing investment in equipment, hiring, M &amp; A and expansion, many large companies are sitting on significant cash reserves.</p>
<p>The companies constituting the S&amp;P 500 derive approximately 30% of their profits from outside USA according to <em>Barron’s Magazine</em>.  Global business allowed large US companies to create more demand for products and services from other countries.  This provided solid support and momentum for the US economy.  This will propel the stock market through a 10% gain in 2011 with a possible mid-year correction, in my opinion.</p>
<p>However, unemployment hovers above 9% and under-employment is around 17%.  What gives?  The reluctance of companies to invest and hire is one reason.  Smaller companies are generally not hiring, which normally is a job creation engine.  The U.S. created approximate 950,000 new jobs in 2010.  By comparison, Flextronics, a computer-technology company headquartered in Singapore, alone added 350,000 new workers in 2010.  These jobs were all outside USA.  You get the picture…</p>
<p><span style="text-decoration: underline;">CONSTRUCTION ECONOMY</span></p>
<p>Two major construction industry segments are single-family homes and commercial structures.  Both are mired in a deep prolonged slump.  There is a huge inventory (and shadow inventory) of unsold houses and condominiums.  Many owners and builders have defaulted or are underwater.  This type of distress has extended to other commercial structures such as office building and hotels.  Rather than lending, many banks are focused on getting back to good health.</p>
<p>With high unemployment and a trend towards smaller spaces, the need for new office space/structures is almost non existent.  In 2003, roughly 5,700 new condominium units, mostly in high rise structures, were sold in Chicago area.  Last year only 600 condominiums were sold in the Chicago area – many at a deep discount.  This picture is no different in Atlanta, Miami, Las Vegas, Miami and other larger cities.</p>
<p>With a construction depression, it is no wonder that unemployment in construction in December stood at 20.8% (<em>ENR Magazine</em>, January 2011).  In March 2009, it was around 27%.  If discouraged workers who are not looking for work are also included, this figure would be higher.  With time, some construction workers will transfer to other industries.</p>
<p>A number of states are battling huge budget deficits.  Now Texas is facing a budget deficit.  Several states have turned down Federal funds for partially-funded infrastructure projects.  Accordingly, the cancellation of other city/state projects will help the construction industry and its employment problem.</p>
<p>It will take an “extended” period of time for the unsold inventory to be absorbed and builders and lenders working together to build new structures.  I believe a notable recovery in single-family homes and commercial structures will occur in mid-2013 and mid-2014, respectively.</p>
<p><span style="text-decoration: underline;">POST-TENSIONING and AMSYSCO</span></p>
<p>Now I will address unbonded post tensioning – the industry that my company AMSYSCO operates in.  Accordingly to the word on the street, our industry metrics declined 70% from 2008 to 2010.  (Alarming.)  In our industry, it is not great recession&#8230;it is depression.</p>
<p>Adding to the challenging environment is escalating raw material prices, which are defying laws of economics – supply and demand.  However, commodities have gone global in pricing behavior (which explains some price increases).  This effect is damaging to company margins.</p>
<p>How did AMSYSCO do in 2010?  We were very fortunate to chalk out a small profit in 2010.  This was possible due to our key customers, suppliers and our great employees.  I cannot thank them enough.  As opposed to the temptation of cutting back, we have enhanced both product quality and service through additional investment.  Additionally, we have expanded our internet presence and entered new markets.</p>
<p>- Rattan Khosa, President</p>
<p>____________________________________________</p>
<div style="text-align: left;"><strong>Copyright © 2011 by </strong><a class="vt-p" onclick="pageTracker._trackPageview('/outbound/article/bit.ly');" href="http://bit.ly/1tEis" target="_blank"><strong>AMSYSCO, Inc.</strong></a><strong> All rights reserved.</strong></div>
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		<title>Historical Timeline of Anti-Dumping with Prestressed Concrete Strand</title>
		<link>http://www.amsyscoinc.com/blog/2010/07/25/prestressed-concret-strand-and-anti-dumping/</link>
		<comments>http://www.amsyscoinc.com/blog/2010/07/25/prestressed-concret-strand-and-anti-dumping/#comments</comments>
		<pubDate>Sun, 25 Jul 2010 20:43:15 +0000</pubDate>
		<dc:creator>rkhosa</dc:creator>
				<category><![CDATA[Economy]]></category>
		<category><![CDATA[antidumping]]></category>
		<category><![CDATA[brazil]]></category>
		<category><![CDATA[china]]></category>
		<category><![CDATA[countervailing duty]]></category>
		<category><![CDATA[india]]></category>
		<category><![CDATA[japan]]></category>
		<category><![CDATA[korea]]></category>
		<category><![CDATA[mexico]]></category>
		<category><![CDATA[pc strand]]></category>
		<category><![CDATA[steel]]></category>
		<category><![CDATA[thailand]]></category>

		<guid isPermaLink="false">http://www.amsyscoinc.com/blog/?p=1604</guid>
		<description><![CDATA[This is a historical timeline of anti-dumping associated with PC Strand. <span style="color:#777"> . . . &#8594; Read More: <a href="http://www.amsyscoinc.com/blog/2010/07/25/prestressed-concret-strand-and-anti-dumping/">Historical Timeline of Anti-Dumping with Prestressed Concrete Strand</a></span>]]></description>
			<content:encoded><![CDATA[<p><span style="text-decoration: underline;">Historical Timeline of Anti-Dumping (AD) and Countervailing Duties (CVD) associated with Prestressed Concrete (PC) Steel Wire Strand</span>.</p>
<p><strong>December 8, 1978</strong>:  U.S. Treasury issued antidumping findings on PC strand imports from Japan.</p>
<p><strong>February 3, 1999</strong>:  After its first review, U.S. Department of Commerce (USDOC) issued a continuation of the antidumping duty findings on PC strand imports from Japan.</p>
<p>________________</p>
<p><strong>January 31, 2003</strong>:  A coalition of three U.S. domestic strand suppliers filed an anti-dumping complaint against Brazil, India, Mexico, South Korea and Thailand with U.S. International Trade Commission (USITC).</p>
<p><strong>March 17, 2003</strong>:  USITC preliminary determined that imports from five countries materially injured domestic PC strand producers.</p>
<p><strong>July 11, 2003</strong>:  USDOC announced <a class="vt-p" href="http://www.ita.doc.gov/media/FactSheet/0703/concretesteel_071103.html" target="_blank">preliminary determinations</a> for antidumping compliant and levied countervailing duties against five countries.</p>
<p><strong>December 2, 2003</strong>:  USDOC and USITC announced issued <a class="vt-p" href="http://www.ita.doc.gov/media/FactSheet/1203/concretesteelwire_fs_120203.html" target="_blank">anti-dumping order</a> on prestressed concrete steel wire strand (PC strand) from Brazil, <a class="vt-p" href="http://www.tribuneindia.com/2003/20031204/biz.htm#3" target="_blank">India</a>, Mexico, South Korea and Thailand.</p>
<p>________________</p>
<p><strong>Early/Mid 2004</strong>:  Strand shipments from China entered U.S. strand market through third-party brokers.</p>
<p><strong>June 25, 2004</strong>:  USITC conducted <a class="vt-p" href="http://books.google.com/books?id=qBHtBnaAq0UC&amp;pg=SA1-PA15&amp;lpg=SA1-PA15&amp;dq=pc+strand+anti-dumping&amp;source=bl&amp;ots=uaqUhMgTyx&amp;sig=2Kzu6kqqAEYOxt9Hd79l-1lj-Ps&amp;hl=en&amp;ei=zKNMTI_XBqPhnQeM89HYCw&amp;sa=X&amp;oi=book_result&amp;ct=result&amp;resnum=4&amp;ved=0CCIQ6AEwAzgK#v=onepage&amp;q=anti&amp;f=false" target="_blank">second five-year review</a> of PC steel wire strand from Japan and continues duties.</p>
<p><strong>December 2008 to March 2009</strong>:  USITC conducted full <a class="vt-p" href="http://www.usitc.gov/secretary/fed_reg_notices/sunset/_701-TA-432_and_731-TA-1024-1028_(Review)_and_AA1921-188_(Third_Review)..1237215557.pdf" target="_blank">five-year review</a> of countervailing duty on PC strand from Brazil, India, Japan (3rd review), Korea, Mexico and Thailand.</p>
<p>________________</p>
<p><strong>May 27, 2009</strong>:  A coalition of the same three U.S. domestic strand suppliers <a class="vt-p" href="http://news.prnewswire.com/ViewContent.aspx?ACCT=109&amp;STORY=/www/story/05-27-2009/0005033423&amp;EDATE=" target="_blank">filed an anti-dumping complaint</a> against Chinese strand suppliers.</p>
<p><strong>July 10, 2009</strong>:  All six USITC commissioners voted in favor that there is a <a class="vt-p" href="http://www.usitc.gov/press_room/news_release/2009/er0710gg1.htm" target="_blank">case for dumping</a>.</p>
<p><strong>October 26, 2009</strong>:  USDOC and USITC announced in affirmative preliminary determination with countervailing duty on strand from China.</p>
<p><strong>December 18, 2009</strong>:  USDOC announced its <a class="vt-p" href="http://ia.ita.doc.gov/download/factsheets/factsheet-prc-pcsws-prelim-121809.pdf" target="_blank">preliminary determination</a> of dumping rate of 37.72% to 193.55% (depending on the Chinese steel mill).</p>
<p><strong>January 2010</strong>:  By-in-large, Chinese strand suppliers exited US market.</p>
<p><strong>May 17, 2010</strong>:  USDOC announced its <a class="vt-p" href="http://ia.ita.doc.gov/download/factsheets/factsheet-prc-pc-strand-adcvd-final-20100517.pdf" target="_blank">final determination</a> in AD and CVD investigations.</p>
<p><strong>June 10, 2010</strong>:  USITC determined US industry is <a class="vt-p" href="http://www.usitc.gov/press_room/news_release/2010/er0610hh1.htm" target="_blank">materially injured</a> by Chinese imports.  USDOC determined imports were subsidized and sold in the U.S. at less than fair value.</p>
<p><strong>June 29, 2010</strong>:  USDOC and USITC announced issued <a class="vt-p" href="http://www.steelorbis.com/steel-news/latest-news/us-doc-issues-ad-order-on-pc-strand-from-china-540419.htm" target="_blank">anti-dumping duty order</a> on prestressed concrete steel wire strand (PC strand) from China.</p>
<p>________________</p>
<p>- Rattan Khosa, AMSYSCO<br />
____________________________________________</p>
<div style="text-align: left;"><strong>Copyright © 2010 by </strong><a class="vt-p" onclick="pageTracker._trackPageview('/outbound/article/bit.ly');" href="http://bit.ly/1tEis" target="_blank"><strong>AMSYSCO, Inc.</strong></a><strong> All rights reserved.</strong></div>
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		<title>Commercial Construction 2010</title>
		<link>http://www.amsyscoinc.com/blog/2010/01/25/commercial-construction-2010/</link>
		<comments>http://www.amsyscoinc.com/blog/2010/01/25/commercial-construction-2010/#comments</comments>
		<pubDate>Mon, 25 Jan 2010 18:03:11 +0000</pubDate>
		<dc:creator>rkhosa</dc:creator>
				<category><![CDATA[AMSYSCO News]]></category>
		<category><![CDATA[Economy]]></category>
		<category><![CDATA[construction]]></category>
		<category><![CDATA[economy]]></category>
		<category><![CDATA[real estate]]></category>

		<guid isPermaLink="false">http://www.amsyscoinc.com/blog/?p=869</guid>
		<description><![CDATA[Unfortunately, any recovery in the construction industry may be deferred until 2012.  <span style="color:#777"> . . . &#8594; Read More: <a href="http://www.amsyscoinc.com/blog/2010/01/25/commercial-construction-2010/">Commercial Construction 2010</a></span>]]></description>
			<content:encoded><![CDATA[<p>As 2008 and 2009 are behind us and 2010 is still young, I thought to share my insights with the reader about the Commercial Construction industry.</p>
<p><span style="text-decoration: underline;">COMMERCIAL CONSTRUCTION (2008-2009)</span></p>
<p>2009 was a year that most in the construction industry would like to forget.  Everyone is aware of the &#8220;Great Recession&#8221; which started in 2008 and deepened in 2009.  For Commercial Construction, with or without post-tensioned concrete, there has been a Depression with no turnaround in sight.  The intensity of the downturn is best illustrated by a <em>4th Quarter (2009) drop of 88% in the construction starts for investment-type office buildings in 63 core markets</em> (data provided by analytics firm CoStar Group, Inc., <em><a class="vt-p" href="http://online.wsj.com/public/page/news-real-estate-commercial.html" target="_blank">Wall Street Journal</a></em>, January 20, 2010).</p>
<p><span style="text-decoration: underline;"><a class="vt-p" href="http://www.amsyscoinc.com/blog/wp-content/uploads/2010/01/Bldg-D-001.jpg"></a></span></p>
<p><span style="text-decoration: underline;">COMMERCIAL CONSTRUCTION (2010)</span></p>
<p>With the backdrop of tight credit markets, high levels of unemployment/underemployment and excessive inventory of office/residential space, the Commercial Construction industry in 2010 could be worse than in 2009.  Unfortunately, any recovery may be deferred until 2012.  In the meantime, the combination of a steep drop in business volume, an increased commodity prices and the downward pressure on margins has created a challenging environment for all construction-related companies.</p>
<p><span style="text-decoration: underline;">AMSYSCO, Inc.</span></p>
<p>As a past, current or future customer of supplier of AMSYSCO, Inc., you may wonder how our company has done.  In AMSYSCO&#8217;s 29 years in business, 2008 and 2009 were the second and third most profitable years respectively.</p>
<p><a class="vt-p" href="http://www.amsyscoinc.com/blog/wp-content/uploads/2009/09/amsysco2-logo1.jpg"><img class="aligncenter size-full wp-image-480" title="amsysco2-logo1.jpg" src="http://www.amsyscoinc.com/blog/wp-content/uploads/2009/09/amsysco2-logo1.jpg" alt="" /></a></p>
<p>There are many factors which contributed to the positive performance.  One key factor is that, in October 2006, our management predicted the potential for an industry downturn starting in 2007.  (In October 2007, a major slowdown in the U.S. market and commercial construction started).  In mid-2008, we also projected that the Dow Jones Industrial would go below 7000 (it hit 6500 in March 2009).  Accordingly, we took some necessary steps to combat the Great Recession.</p>
<p>At the same time, we stayed the course by <a class="vt-p" href="http://www.amsyscoinc.com/why/location.php" target="_blank">relocating our headquarter </a>and purchasing a 55,000 sq.ft. industrial building.  This move enabled AMSYSCO, Inc. to serve our customers better, increase our plant production capacity and provide an excellent environment for our employees.</p>
<p>AMSYSCO, Inc. will continue to strive to provide the best value to our construction clients in partnership with our suppliers and employees.  Together we have already set a solid foundation for 2010.</p>
<p>- Rattan L. Khosa, President</p>
<div>
<div>
<div>____________________________________________</div>
<div><strong>Copyright © 2010 by </strong><a class="vt-p" onclick="pageTracker._trackPageview('/outbound/article/bit.ly');" href="http://bit.ly/1tEis" target="_blank"><strong>AMSYSCO, Inc.</strong></a><strong> All rights reserved.</strong></div>
</div>
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		<title>Real Estate &#8211; Closure of Corus Bank Chicago</title>
		<link>http://www.amsyscoinc.com/blog/2009/09/14/corusbank/</link>
		<comments>http://www.amsyscoinc.com/blog/2009/09/14/corusbank/#comments</comments>
		<pubDate>Mon, 14 Sep 2009 14:18:42 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Economy]]></category>
		<category><![CDATA[Real Estate]]></category>
		<category><![CDATA[economy]]></category>
		<category><![CDATA[real estate]]></category>

		<guid isPermaLink="false">http://www.amsyscoinc.com/blog/?p=607</guid>
		<description><![CDATA[<p>Corus Bank, National Association, Chicago, Illinois, was closed today by the Office of the Comptroller of the Currency, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver.</p> <p>Corus is one of the largest of the 90 banks to close. this year.  The Chicago-based bank made loans to commercial real estate projects nationally.  The downturn of the real <span style="color:#777"> . . . &#8594; Read More: <a href="http://www.amsyscoinc.com/blog/2009/09/14/corusbank/">Real Estate &#8211; Closure of Corus Bank Chicago</a></span>]]></description>
			<content:encoded><![CDATA[<blockquote><p>Corus Bank, National Association, Chicago, Illinois, was closed today by the Office of the Comptroller of the Currency, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver.</p></blockquote>
<p>Corus is one of the largest of the 90 banks to close. this year.  The Chicago-based bank made loans to commercial real estate projects nationally.  The downturn of the real estate market is the major reason for the bank failure.</p>
<p>For more information, please read the <a href="http://www.fdic.gov/news/news/press/2009/pr09168.html" target="_blank">FDIC Press Release</a>.</p>
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		<title>Post Tensioned Concrete and LEED (part 3)</title>
		<link>http://www.amsyscoinc.com/blog/2009/09/09/post-tensioned-concrete-and-leed-3/</link>
		<comments>http://www.amsyscoinc.com/blog/2009/09/09/post-tensioned-concrete-and-leed-3/#comments</comments>
		<pubDate>Thu, 10 Sep 2009 02:01:58 +0000</pubDate>
		<dc:creator>nkhosa</dc:creator>
				<category><![CDATA[Construction]]></category>
		<category><![CDATA[Post Tension]]></category>
		<category><![CDATA[concrete]]></category>
		<category><![CDATA[construction]]></category>
		<category><![CDATA[LEED]]></category>

		<guid isPermaLink="false">http://www.amsyscoinc.com/blog/?p=339</guid>
		<description><![CDATA[Ideally, structures can be built faster with unbonded post-tensioning at no additional cost. Accordingly, the impact of construction on the surrounding environment would be less. <span style="color:#777"> . . . &#8594; Read More: <a href="http://www.amsyscoinc.com/blog/2009/09/09/post-tensioned-concrete-and-leed-3/">Post Tensioned Concrete and LEED (part 3)</a></span>]]></description>
			<content:encoded><![CDATA[<p><strong><span style="text-decoration: underline;">QUICKER CONSTRUCTION SCHEDULE</span></strong></p>
<p>Another important element that has an environmental influence is the speed of the construction schedule.  Ideally, structures can be built faster with unbonded post-tensioning at no additional cost.   Accordingly, the impact of construction on the surrounding environment would be less.  The environment could be an urban jungle or the natural wildlife.</p>
<p>Living in downtown Chicago, I am accustomed to traffic jams due to construction projects.  The daily gridlock of automobiles and trucks create pollution and smog in the local vicinity.  AMSYSCO, Inc. worked on <a class="vt-p" href="http://www.emporis.com/application/?nav=building&amp;lng=3&amp;id=340onstreetpark-chicago-il-usa" target="_blank">340 E. Randolph Condominiums</a>, a 62-story unbonded post-tensioned building that was built at a rate of one floor every 3 days.  (It became the first residential tower in the Mid-West America to achieve Silver <a class="vt-p" href="http://en.wikipedia.org/wiki/Leadership_in_Energy_and_Environmental_Design" target="_self">LEED </a>certification for its &#8220;green&#8221; design.)  The construction team shaved off more than two months from their schedule using a combination of post-tensioning, specialized forming and stronger concrete.  Ultimately, it reduced vehicular carbon emissions and the strain on local infrastructure.</p>
<p><a class="vt-p" rel="attachment wp-att-558" href="http://www.amsyscoinc.com/blog/2009/09/09/post-tensioned-concrete-and-leed-3/picture-032/"><img class="alignright size-large wp-image-558" title="Picture 032" src="http://www.amsyscoinc.com/blog/wp-content/uploads/2009/12/Picture-032-768x1024.jpg" alt="Picture 032" width="360" height="480" /></a><a class="vt-p" rel="attachment wp-att-557" href="http://www.amsyscoinc.com/blog/2009/09/09/post-tensioned-concrete-and-leed-3/bldg-a-002/"><img class="aligncenter size-full wp-image-557" title="Bldg A  002" src="http://www.amsyscoinc.com/blog/wp-content/uploads/2009/12/Bldg-A-002.jpg" alt="Bldg A  002" width="225" height="448" /></a></p>
<p>Additionally, a quicker construction schedule will reduce the number of days with noisy construction (noise emission).  Residents and animal-wildlife in the surrounding ecosystem will benefit from the reduced human activity.  While there is the obvious political, social and economic pressure for constructing structures, we can attempt to protect the ecosystem and reduce the impact of the construction industry.</p>
<p><a class="vt-p" href="http://bit.ly/3TTwk4" target="_self">Post Tensioned Concrete and LEED (part 1)</a></p>
<p><a class="vt-p" href="http://bit.ly/16LGHu" target="_self">Post Tensioned Concrete and LEED (part 2)</a></p>
<p>- Neel Khosa, AMSYSCO</p>
<p style="line-height: 14.25pt;"><span style="font-size: 10pt; color: black; font-family: 'Georgia','serif';">Copyright © 2009 by <a class="vt-p" onclick="pageTracker._trackPageview('/outbound/article/bit.ly');" href="http://bit.ly/1tEis" target="_blank">AMSYSCO, Inc.</a> All rights reserved.</span></p>
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		<title>Post Tensioned Concrete and LEED (part 2)</title>
		<link>http://www.amsyscoinc.com/blog/2009/08/18/post-tensioned-concrete-and-leed-2/</link>
		<comments>http://www.amsyscoinc.com/blog/2009/08/18/post-tensioned-concrete-and-leed-2/#comments</comments>
		<pubDate>Tue, 18 Aug 2009 18:03:08 +0000</pubDate>
		<dc:creator>nkhosa</dc:creator>
				<category><![CDATA[Construction]]></category>
		<category><![CDATA[Post Tension]]></category>
		<category><![CDATA[concrete]]></category>
		<category><![CDATA[construction]]></category>
		<category><![CDATA[LEED]]></category>

		<guid isPermaLink="false">http://www.amsyscoinc.com/blog/?p=249</guid>
		<description><![CDATA[With a reduced building weight due to unbonded post-tensioned concrete, there is potential savings for... <span style="color:#777"> . . . &#8594; Read More: <a href="http://www.amsyscoinc.com/blog/2009/08/18/post-tensioned-concrete-and-leed-2/">Post Tensioned Concrete and LEED (part 2)</a></span>]]></description>
			<content:encoded><![CDATA[<p><strong><span style="text-decoration: underline;"><a class="vt-p" rel="attachment wp-att-345" href="http://www.amsyscoinc.com/blog/2009/08/18/post-tensioned-concrete-and-leed-2/imgp1490/"></a>BUILDING WEIGHT</span></strong></p>
<p>As described in a <a class="vt-p" href="http://www.amsyscoinc.com/blog/2009/07/24/post-tensioned-concrete-and-leed/" target="_self">previous blog</a>, unbonded post-tensioned concrete can reduce vertical construction elements.  Simply put, the less material used means less building weight (dead load).  The reduced weight can allow for smaller foundations and shear walls.  This can minimize excavation requirements, the need for caissons and possibility of affecting the water table.</p>
<p><a class="vt-p" rel="attachment wp-att-345" href="http://www.amsyscoinc.com/blog/2009/08/18/post-tensioned-concrete-and-leed-2/imgp1490/"><img class="aligncenter size-medium wp-image-345" title="IMGP1490" src="http://www.amsyscoinc.com/blog/wp-content/uploads/2009/08/IMGP1490-225x300.jpg" alt="IMGP1490" width="225" height="300" /></a></p>
<p>With a reduced building weight due to unbonded post-tensioned concrete, there is potential savings for the following:</p>
<p><span style="text-decoration: underline;">Construction</span></p>
<ol>
<li>Concrete Footings/Foundations/Caissons</li>
<li>Concrete Shear walls</li>
<li>Excavation</li>
<li>Retaining Walls</li>
<li>Pumping of water for underground work</li>
</ol>
<p><span style="text-decoration: underline;">Operational Life-Cycle Savings</span></p>
<ol>
<li>The impact (erosion) of building weight will be less the on surrounding land.</li>
<li>The cost of pumping of water to control sub-terrain flooding can be reduced.</li>
<li>Improved Seismic behavior.</li>
<li>Reduced deflection and vibration.</li>
</ol>
<p>(On an aside, I found two interesting blogs that discuss the LEED program at <a class="vt-p" href="http://www.reallifeleed.com/">http://www.reallifeleed.com/</a> and <a class="vt-p" href="http://leedblogger.com/">http://leedblogger.com/</a>)</p>
<p><a class="vt-p" onclick="pageTracker._trackPageview('/outbound/article/bit.ly');" href="http://bit.ly/3TTwk4" target="_self">Post Tensioned Concrete and LEED (part 1)</a></p>
<p><a class="vt-p" onclick="pageTracker._trackPageview('/outbound/article/bit.ly');" href="http://bit.ly/1CJumx">Post Tensioned Concrete and LEED (part 3)</a></p>
<p>- Neel Khosa, AMSYSCO</p>
<p style="line-height: 14.25pt;"><span style="font-size: 10pt; color: black; font-family: 'Georgia','serif';">Copyright © 2009 by <a class="vt-p" onclick="pageTracker._trackPageview('/outbound/article/bit.ly');" href="http://bit.ly/1tEis" target="_blank">AMSYSCO, Inc.</a> All rights reserved.</span></p>
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		<title>Post Tensioned Concrete and LEED (part 1)</title>
		<link>http://www.amsyscoinc.com/blog/2009/07/24/post-tensioned-concrete-and-leed/</link>
		<comments>http://www.amsyscoinc.com/blog/2009/07/24/post-tensioned-concrete-and-leed/#comments</comments>
		<pubDate>Fri, 24 Jul 2009 15:02:24 +0000</pubDate>
		<dc:creator>nkhosa</dc:creator>
				<category><![CDATA[Construction]]></category>
		<category><![CDATA[Post Tension]]></category>
		<category><![CDATA[concrete]]></category>
		<category><![CDATA[construction]]></category>
		<category><![CDATA[LEED]]></category>

		<guid isPermaLink="false">http://www.amsyscoinc.com/blog/?p=171</guid>
		<description><![CDATA[I believe that unbonded post-tensioned concrete can help some mid-rise and high-rise office/residential buildings received a higher LEED rating. <span style="color:#777"> . . . &#8594; Read More: <a href="http://www.amsyscoinc.com/blog/2009/07/24/post-tensioned-concrete-and-leed/">Post Tensioned Concrete and LEED (part 1)</a></span>]]></description>
			<content:encoded><![CDATA[<p>Several years ago, I attended a symposium headed by Mr. Rick Fedrizzi, President of the U.S. Green Building Council (<a class="vt-p" href="http://www.usgbc.org/">http://www.usgbc.org/</a>), regarding the LEED green building program.  During the symposium, the environmental effects of construction, housing and coal powered plants were the topics of discussion.  I saw a definite value for reducing our carbon footprint during the construction and occupancy phases using the &#8220;less is more&#8221; philosophy.  In the past few years, I have noticed that more new construction projects have sought out a LEED certification.</p>
<p>While I don&#8217;t claim to be a LEED expert, I have done some basic research on the subject and how my industry, unbonded post-tensioned concrete, factors in.  I believe that unbonded post-tensioned concrete can help some mid-rise and high-rise office/residential buildings received a higher LEED rating.</p>
<p><img class="aligncenter size-thumbnail wp-image-214" title="parkview" src="http://www.amsyscoinc.com/blog/wp-content/uploads/2009/07/parkview1-150x150.jpg" alt="parkview" width="150" height="150" /></p>
<p><strong><span style="text-decoration: underline;">BUILDING HEIGHT </span></strong></p>
<p>The potential for a reduction in the building height (and floor-to-floor height) is one key benefit that Unbonded Post-Tensioning has over Structural Steel.  The Post-Tensioning Institute issued a technical bulletin which compares the savings in building height:  a typical 10-story structural steel building has a height of 125’ whereas a typical 10-story post-tensioning building has a height of only 108’.  The impact of the 13.6% reduction in vertical height is obvious – the quantities of all vertical elements will be reduced.</p>
<p>When compared to a Conventional Rebar slab, an Unbonded Post-Tensioning structure can function with thinner slabs and smaller columns.  The Post-Tensioning Institute issued a technical bulletin which showed a 16% reduction in concrete with a post-tensioned residential building (excludes foundation).  Also, the weight of the steel (post-tensioning tendon and rebar) inside the slabs/beams was 20% less in the post-tensioned structure versus a conventional rebar structure.  Finally, the vertical height was reduced by 2% in the post-tensioned building.</p>
<p>With a reduced building height due to unbonded <a class="vt-p" href="http://www.amsyscoinc.com/why/post_tensioning.php" target="_blank">post-tensioned</a> concrete, there are potential savings for the following:</p>
<p><span style="text-decoration: underline;">Construction</span></p>
<ol>
<li>Piping for Mechanical, Electrical/ Telecom/Security, Plumbing, Fire Protection, etc.</li>
<li>Facades with Curtainwall, Precast, Masonry, etc.</li>
<li>Concrete Columns and Shear Walls</li>
<li>Elevators, Metal Stairs, Construction Hoists/Cranes</li>
<li>Reduced floor-to-floor height can reduce material for interior finishes (drywall, etc.)</li>
<li>Reduced freight, CO2, pollution, labor, manufacturing, etc.</li>
</ol>
<p><span style="text-decoration: underline;">Operational Life-Cycle Savings</span></p>
<ol>
<li>The building will cast less of a shadow on the ground.  This can allow grade-level vegetation to receive more sunlight.  Therefore, landscaping costs and water usage for irrigation can be reduced.</li>
<li>There will be a reduction in the energy required to vertically transport liquids (water), gases, cooled air, people, etc.  Ultimately, this should reduce the energy bill for the owner(s).</li>
<li>Quicker evacuation times in case of emergencies for tenants on the upper levels.</li>
<li>Reduced floor-to-floor height and volume can reduce HVAC costs within units.</li>
</ol>
<p>In future posts, I will talk about <a class="vt-p" href="http://www.amsyscoinc.com/blog/2009/08/18/post-tensioned-concrete-and-leed-2/" target="_self">Building Weight</a>, Quicker Construction and other LEED items.</p>
<p><a class="vt-p" href="http://bit.ly/16LGHu" target="_self">Post Tensioned Concrete and LEED (part 2)</a></p>
<p><a class="vt-p" href="http://bit.ly/1CJumx">Post Tensioned Concrete and LEED (part 3)</a></p>
<p>- Neel Khosa, AMSYSCO Inc.</p>
<p style="line-height: 14.25pt;"><span style="font-size: 10pt; color: black; font-family: &amp;quot;Georgia&amp;quot;,&amp;quot;serif&amp;quot;;">Copyright © 2009 by <a class="vt-p" href="http://www.amsyscoinc.com/" target="_blank">AMSYSCO, Inc</a>. All rights reserved.</span></p>
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		<title>Benefits of PDF&#8217;s for Construction Industry</title>
		<link>http://www.amsyscoinc.com/blog/2009/06/09/benefits-of-pdfs-for-construction-industry/</link>
		<comments>http://www.amsyscoinc.com/blog/2009/06/09/benefits-of-pdfs-for-construction-industry/#comments</comments>
		<pubDate>Tue, 09 Jun 2009 23:31:37 +0000</pubDate>
		<dc:creator>nkhosa</dc:creator>
				<category><![CDATA[Construction]]></category>
		<category><![CDATA[construction]]></category>
		<category><![CDATA[PDF]]></category>

		<guid isPermaLink="false">http://www.amsyscoinc.com/blog/?p=117</guid>
		<description><![CDATA[...I strongly believe that digital is the way of the future. Down the road, mobile phone technology will allow the field workers to project installation drawings onto surfaces. An entire construction crew can be coordinated through their mobile phones... <span style="color:#777"> . . . &#8594; Read More: <a href="http://www.amsyscoinc.com/blog/2009/06/09/benefits-of-pdfs-for-construction-industry/">Benefits of PDF&#8217;s for Construction Industry</a></span>]]></description>
			<content:encoded><![CDATA[<p style="line-height: 11.9pt;"><span style="font-size: 8pt; color: black; font-family: &quot;Georgia&quot;,&quot;serif&quot;;">The PDF (portable document format) was invented by Abode Systems in 1993.  It was a propriety file format until recently when it was released as an open standard last July.</span></p>
<p style="line-height: 11.9pt;"><span style="font-size: 8pt; color: black; font-family: &quot;Georgia&quot;,&quot;serif&quot;;">In my experience working as a general Contractor and Subcontractor, I have noticed a substantial increase in the use of PDF’s for transfer of 8.5”x11” documentation (in lieu of mailing and faxes).<span style="mso-spacerun: yes;">  </span>However, I have only experienced a <span style="text-decoration: underline;">slight</span> increase in shop drawing transfer via PDF.  Since I am part of the digital generation, I am a big supporter of paperless documentation for the following reasons:</span></p>
<p style="line-height: 11.9pt;"><span style="font-size: 8pt; color: black; font-family: &quot;Georgia&quot;,&quot;serif&quot;;"><span style="text-decoration: underline;">1. QUICKER SUBMITTALS: <em style="mso-bidi-font-style: normal;">Email &gt; Mail</em>.</span></span></p>
<p style="line-height: 11.9pt;"><span style="font-size: 8pt; color: black; font-family: &quot;Georgia&quot;,&quot;serif&quot;;"> This one is fairly simple – email is much faster than mail.<span style="mso-spacerun: yes;">  </span>An Auto CAD detailer will take several minutes to convert a DWG file into PDF and email it to the appropriate parties.<span style="mso-spacerun: yes;">  </span>With a click of the button, the Contractor can forward the submittal to the Architect/Engineer. <span style="mso-spacerun: yes;"> </span>Now that the software has the ability to digitally &#8220;mark up&#8221; drawings, I have noticed that some Structural Engineers and Contractors encourage digital drawing transfer.<span style="mso-spacerun: yes;">  </span>The Engineer can return the reviewed submittal to the Contractor who forwards it to the Subcontractor in a matter of minutes.<span style="mso-spacerun: yes;">  </span>Under the Digital Millennium Copyright Act, passed by President Clinton, emails are equivalent to paper (i.e. transmittals) for legal matters.<span style="mso-spacerun: yes;">  </span>One potential downside is the digital files can be large at times.<span style="mso-spacerun: yes;">  </span>Hopefully with increased broadband/DSL/T1 speeds, this will be non-issue in a few years.</span></p>
<p style="line-height: 11.9pt;"><span style="font-size: 8pt; color: black; font-family: &quot;Georgia&quot;,&quot;serif&quot;;">By contrast, traditional mail can involve many time-consuming steps.<span style="mso-spacerun: yes;">  </span>1) Printing the drawings.<span style="mso-spacerun: yes;">  </span>Assuming the Subcontractor has a plotter in house, this step will take several minutes.<span style="mso-spacerun: yes;">  </span>Subcontractors without plotters will have to email files to a printing company which costs more money and takes more time.<span style="mso-spacerun: yes;">  </span>2) Making several copies for all parties.<span style="mso-spacerun: yes;">  </span>Assuming the Subcontractor has a fast large-scale copier in house, this step will take several more minutes.<span style="mso-spacerun: yes;">  </span>Subcontractors without copiers will have to rely on the printing company.<span style="mso-spacerun: yes;">  </span>3) Packaging and Mailing the drawings by car/truck/airplane.<span style="mso-spacerun: yes;">  </span>This step may take 1-2 hours for local work or 1-5 days for out-of-town work.<span style="mso-spacerun: yes;">  </span>Another issue is that mail can get lost, misplaced or remain unopened more easily than an email.<span style="mso-spacerun: yes;">  </span>4) Review Process.<span style="mso-spacerun: yes;">  </span>The contractor reviews the submittal and mails it to the Architect/Engineer (more time wasted). <span style="mso-spacerun: yes;"> </span>After the review, the Architect/Engineer must mail it back to the Contractor (more time wasted).<span style="mso-spacerun: yes;">  </span>Finally, the Contractor mails it to the Subcontractor (more time wasted).<span style="mso-spacerun: yes;">  </span>This process gets aggravated for work done in foreign countries.</span></p>
<p style="line-height: 11.9pt;"><span style="font-size: 8pt; color: black; font-family: &quot;Georgia&quot;,&quot;serif&quot;;">Construction schedules and deadlines are tighter than in the past.<span style="mso-spacerun: yes;">  </span>The traditional mail process wastes money and time in transit whereas digital transfer is relatively free and instant.<span style="mso-spacerun: yes;">  </span>The extra time can be used for other purposes:<span style="mso-spacerun: yes;">  </span>coordination, management and incorporation of redesigns/RFIs.<span style="mso-spacerun: yes;">  </span>With all that said, it is still a good idea to keep a paper copy of the drawings for your records.<span style="mso-spacerun: yes;">  </span>Technology is great but not perfect.</span></p>
<p style="line-height: 11.9pt;"><span style="font-size: 8pt; color: black; font-family: &quot;Georgia&quot;,&quot;serif&quot;;"><span style="font-size: 8pt; color: black; font-family: &quot;Georgia&quot;,&quot;serif&quot;;"><span style="text-decoration: underline;">2. SAVE THE TREES:  <em><span style="font-family: &quot;Georgia&quot;,&quot;serif&quot;;">The PDF is environmentally friendly and cost-effective</span></em>. </span>       </span></span><span style="font-size: 8pt; color: black; font-family: &quot;Georgia&quot;,&quot;serif&quot;;"><span style="font-size: 8pt; color: black; font-family: &quot;Georgia&quot;,&quot;serif&quot;;"><img title="home_image" src="http://www.amsyscoinc.com/blog/wp-content/uploads/2009/06/home_image.jpg" alt="home_image" width="93" height="142" /></span></span></p>
<p style="line-height: 11.9pt;"><span style="font-size: 8pt; color: black; font-family: &quot;Georgia&quot;,&quot;serif&quot;;">The typical construction drawing (the Architect E1 size) is 30&#8243;x42&#8243; in size.  The area of the E1 is equivalent to 13.5 sheets of 8.5&#8243;x11&#8243; copy paper.  Estimates are that 1 tree will make 9000 sheets of copy paper (or 667 sheets of E1).</span></p>
<p style="line-height: 11.9pt;"><span style="font-size: 8pt; color: black; font-family: &quot;Georgia&quot;,&quot;serif&quot;;">Many Subcontractors have probably experienced receiving a huge roll of 667 design drawings…only to end up using 30 structural sheets.  The reason that Contractors send EVERY drawing is to ensure that their Subcontractors do not miss any information (and CYA).  Contractors can reduce their paper costs by sending PDFs (either via CD or downloadable online) instead of hardcopies.</span></p>
<p style="line-height: 11.9pt;"><span style="font-size: 8pt; color: black; font-family: &quot;Georgia&quot;,&quot;serif&quot;;">One potential downside is that printing costs will be shifted from Contractors towards Subcontractors.<span style="mso-spacerun: yes;">  </span>This negative can be offset by having Subcontractors submit PDF versions of shop drawings to Contractors (in lieu of sending 3-10 copies of the submittal).  Another downside is that the Subcontractor will have to spend time sorting through PDFs to figure out which sheets are worth printing.<span style="mso-spacerun: yes;">  </span>Time is money but the goal is to reduce the total sheets printed and save the environment.</span></p>
<p style="line-height: 11.9pt;"><span style="font-size: 8pt; color: black; font-family: &quot;Georgia&quot;,&quot;serif&quot;;">On a disheartening side note, I find it ironic that we strive to get construction projects LEED certified but we neglect the forest of trees killed in the process.</span></p>
<p style="line-height: 11.9pt;"><span style="font-size: 8pt; color: black; font-family: &quot;Georgia&quot;,&quot;serif&quot;;"><span style="text-decoration: underline;">3. MORE ORGANIZED FILING: <em style="mso-bidi-font-style: normal;">Folders are our friends</em>.</span></span></p>
<p style="line-height: 11.9pt;"><span style="font-size: 8pt; color: black; font-family: &quot;Georgia&quot;,&quot;serif&quot;;">I won’t get into detail about the computer software, but I find it easier and quicker to retrieve digital documents off a computer rather than sort through paper file systems.<span style="mso-spacerun: yes;">  </span>One caveat is that both systems take time to set up and discipline to maintain them.</span></p>
<p style="line-height: 11.9pt;"><span style="font-size: 8pt; color: black; font-family: &quot;Georgia&quot;,&quot;serif&quot;;">When one of my customers calls, I can access the necessary digital drawings within a few seconds and (hopefully) answer their question(s) immediately.<span style="mso-spacerun: yes;">  </span>There is nothing better than closing an issue quickly and reducing the phone bills.<span style="mso-spacerun: yes;">  </span>Granted, basic questions can be answered over email but the complex questions require more communication.</span></p>
<p style="line-height: 11.9pt;"><span style="font-size: 8pt; color: black; font-family: &quot;Georgia&quot;,&quot;serif&quot;;">Conversely, when a customer calls me in “non-digital-land,” I would have to put the customer on hold, go to the print room, pray that I find the drawings quickly, go back to my room, open the drawings up, and then address the customer.<span style="mso-spacerun: yes;">  </span>If I couldn’t find the drawings, then I’d have to call the customer back.</span></p>
<p style="line-height: 11.9pt;"><span style="font-size: 8pt; color: black; font-family: &quot;Georgia&quot;,&quot;serif&quot;;">While critics will find flaws with digital transfer of drawings versus mail, I strongly believe that digital is the way of the future.<span style="mso-spacerun: yes;">  </span>Down the road, mobile phone technology will allow the field workers to project installation drawings onto surfaces.<span style="mso-spacerun: yes;">  </span>An entire construction crew can be coordinated through their mobile phones rather carry outdated and dirty drawings in their Jobox.</span></p>
<p style="line-height: 11.9pt;"><span style="font-size: 8pt; color: black; font-family: &quot;Georgia&quot;,&quot;serif&quot;;">- Neel Khosa, AMSYSCO Inc</span></p>
<p style="line-height: 14.25pt;"><span style="font-size: 10pt; color: black; font-family: &quot;Georgia&quot;,&quot;serif&quot;;">Copyright © 2009 by <a href="http://www.amsyscoinc.com/" target="_blank">AMSYSCO, Inc</a>. All rights reserved.</span></p>
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		<title>Chicago Booth 57th Annual Management Conference 2009</title>
		<link>http://www.amsyscoinc.com/blog/2009/05/30/chicago-booth-57-annual-management-conference-2009/</link>
		<comments>http://www.amsyscoinc.com/blog/2009/05/30/chicago-booth-57-annual-management-conference-2009/#comments</comments>
		<pubDate>Sat, 30 May 2009 14:54:22 +0000</pubDate>
		<dc:creator>nkhosa</dc:creator>
				<category><![CDATA[Construction]]></category>
		<category><![CDATA[Economy]]></category>
		<category><![CDATA[Real Estate]]></category>
		<category><![CDATA[economy]]></category>
		<category><![CDATA[real estate]]></category>
		<category><![CDATA[University of Chicago Booth]]></category>

		<guid isPermaLink="false">http://www.amsyscoinc.com/blog/?p=89</guid>
		<description><![CDATA[<p>Yesterday, Rattan Khosa and I attended the Chicago Booth School of Business&#8217;s management conference titled &#8220;The Future of Markets.&#8221;  The conference included a panel discussion, breakout sessions and a special forum.</p> <p>The panel discussion was moderated by Ray Saurez, author and senior correspondent of PBS &#8216;The NewsHour,&#8217; and the acclaimed panel included Professors Gary Becker, <span style="color:#777"> . . . &#8594; Read More: <a href="http://www.amsyscoinc.com/blog/2009/05/30/chicago-booth-57-annual-management-conference-2009/">Chicago Booth 57th Annual Management Conference 2009</a></span>]]></description>
			<content:encoded><![CDATA[<p>Yesterday, Rattan Khosa and I attended the Chicago Booth School of Business&#8217;s management conference titled &#8220;The Future of Markets.&#8221;  The conference included a panel discussion, breakout sessions and a special forum.</p>
<p>The panel discussion was moderated by Ray Saurez, author and senior correspondent of PBS &#8216;The NewsHour,&#8217; and the acclaimed panel included Professors Gary Becker, Marianne Bertrand, Steve Kaplan, Anil Kashyap, Kevin Murphy and Raghuram Rajan.  Their discussions about the current economic condition were not only informative but also spirited.  The panel focused on the importance of human capital as a key driver of economic growth and strength.  Other topics included opinions of government bailouts and the unintended consequences of government regulation.  I took away that while markets are not perfect, they should be allowed to self-correct mistakes but that temporary government intervention may be necessary to overcome market failures.  Additionally, we need to solve the K-12 education and family structure issues <strong>now</strong> in order to decrease U.S. poverty in the future.</p>
<p><img class="aligncenter size-medium wp-image-220" title="Booth Logo" src="http://www.amsyscoinc.com/blog/wp-content/uploads/2009/05/Booth-Logo-300x82.jpg" alt="Booth Logo" width="300" height="82" /></p>
<p>After the panel discussion, I attended a session headed by Prof. Joseph Pagliari that was titled &#8216;<em>Commercial Real Estate:  Where have we been and Where are we heading?</em>&#8220;  Prof. Pagliari lectured about core vs. non-core real estate, the effects of leverage (taking on debt), and institutional joint ventures.  Without getting too technical, the effects of leverage were extremely positive when real estate values were increasing, and had the opposite effect in the past 18 months.  The bottom-line is that the commercial real estate has not bottomed-out yet and that the bottom may last 1-2 years, a sentiment that I agree with.</p>
<p>Finally, Dean Snyder and Prof. Eugene Fama, the &#8220;father of modern finance,&#8221; chatted about the efficient market theory.  The discussion revolved around the stock market and whether it was better to be a passive investor (buy and hold index funds) or an active investor.  Conceptually, it is probably better for the average unskilled investor to be a diversified passive investor.</p>
<p>- Neel Khosa, AMSYSCO Inc.</p>
<p style="line-height: 14.25pt;"><span style="font-size: 10pt; color: black; font-family: &quot;Georgia&quot;,&quot;serif&quot;;">Copyright © 2009 by <a href="http://www.amsyscoinc.com/" target="_blank">AMSYSCO, Inc</a>. All rights reserved.</span></p>
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