NIRI Seattle - February 12, 2008 Chapter Meeting

Capital Markets Trends

Topic

If the beginning of 2008 is any indication of things to come, we can expect global capital markets to be extremely volatile and shifting rapidly, driven by recession worries, significant rate cuts and various economic rescue plans. So what will this mean for Northwest companies in the coming year? How should they finance their expansion plans or should they just hang on and "weather the storm?"

The Seattle Chapter of NIRI is delighted to present a panel discussion on capital markets trends, bringing together a panel of three experts who advise both public and privately held companies on corporate financing transactions, mergers and acquisitions, and investment banking. The panel will be moderated by Peter A. Brous, Ph.D., a distinguished Professor of Finance at Seattle University, who has expertise in Corporate Financing and Real Option Analysis. Panelists include Bill Shaw, Managing Director, Global Capital Markets, NASDAQ Stock Market; C.J. Voss, Principal, Stoel Rives LLP; and Douglas Woodcock, President, Equity Markets, D. A. Davidson.

This event will be a timely discussion of financing trends – debt vs. equity; IPO markets and outlook; M&A trends; the impact of weak dollar and strength of foreign investors and transitions in the world stock exchanges.

Panelists & Moderator

William “Bill” Shaw, Managing Director – Global Capital Markets, NASDAQ Stock Market

Bill Shaw is a Managing Director for The NASDAQ Stock Market, Inc. in the newly-formed Global Capital Markets department. He and his team are responsible for developing client relations with global advisory institutions driving private companies to the public markets, including investment banking, financial sponsors and corporate advisors. Mr. Shaw has held various positions within NASDAQ including working with CEOs and CFOs of NASDAQ listed companies in the firm’s Corporate Client Group. Additionally, he has worked in the Listings Group, specifically concentrating on the development of relationships in the private company banking and sponsor firms of the private investment and development of regional networking events and conferences to support the listings team. Prior to joining NASDAQ, he worked for Genesis Merchant Group Securities, an investment-banking firm based in San Francisco, California, and was President and Founder of Eiger Communications, an integrated sales & marketing company based in San Francisco.

C. J. Voss, Principal, Stoel Rives LLP

C.J. Voss works with public and private companies on business and financing transactions and has represented clients in the forest products, life sciences, software and information technology, consumer products and financial services industries. In addition to acting as principal corporate and securities counsel to several publicly held companies, C.J. advises entrepreneurs and emerging growth companies on business formation and founders’ issues, early stage and venture capital financings, and technology development and commercialization arrangements. He has been named a “Rising Star” and one of Washington’s “Super Lawyers” by Washington Law & Politics and was included in Chambers’ America’s Leading Lawyers for Business (2007). CJ is a graduate of Princeton University, cum laude, and earned law degrees from the University of Virginia School of Law and the University of Brussels.

Douglas Woodcock, President, Equity Markets, D.A. Davidson & Co.

Douglas Woodcock is President of Equity Capital Markets at D.A. Davidson & Co. He has over 25 years of experience in the securities industry including direct experience in institutional sales, trading, research, and retail brokerage. Previously, Mr. Woodcock was employed at Jensen Securities Co. as a Managing Director and Principal from 1991 to 1998. He is also an Advisor at Akers Capital, LLC. Mr. Woodcock is a Member of the Securities Industry Association Institutional Committee. He graduated from University of Guelph, Ontario, Canada.

Peter A. Brous, Ph.D., Dr. Khalil Dibee Endowed Chair Professor of Finance, Seattle University

Professor Brous earned a Ph.D. in Finance from the University of Oregon in 1989. Before joining Seattle University in 1992, he was an Assistant Professor for four years at Pennsylvania State University. Dr. Brous has published many articles in the top finance and accounting journals including the Journal of Finance, Journal of Financial Economics, Journal of Financial and Quantitative Analysis, and the Journal of Accounting Research. He has won both teaching and research awards at Seattle University. Areas of expertise include, Corporate Performance Measures, Capital Budgeting, Corporate Financing Decisions, and Real Option Analysis.