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<DIV><FONT face=Arial size=2>Dear AIBEcers:</FONT></DIV>
<DIV><FONT face=Arial size=2></FONT> </DIV>
<DIV><FONT face=Arial size=2>Registration for the second Summer Semester is
currently open. The second summer semester begins on Monday July
3rd.</FONT></DIV>
<DIV><FONT face=Arial size=2></FONT> </DIV>
<DIV><FONT face=Arial size=2>Yours truly,</FONT></DIV>
<DIV><FONT face=Arial size=2>Art Franczek</FONT></DIV>
<DIV style="FONT: 10pt arial">
<DIV> </DIV></DIV>
<DIV><BR></DIV>
<DIV><FONT face=Arial size=2></FONT><BR> </DIV>
<DIV><FONT face=Arial size=2>
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style="MARGIN: 0in 0in 0pt; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto"><SPAN
style="COLOR: #333399"><FONT
face="Times New Roman"> <o:p></o:p></FONT></SPAN></P></TD>
<TD
style="BORDER-RIGHT: #ece9d8; PADDING-RIGHT: 1.5pt; BORDER-TOP: #ece9d8; PADDING-LEFT: 1.5pt; PADDING-BOTTOM: 1.5pt; BORDER-LEFT: #ece9d8; WIDTH: 520.9pt; PADDING-TOP: 1.5pt; BORDER-BOTTOM: #ece9d8; BACKGROUND-COLOR: transparent"
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style="mso-bidi-font-style: normal"><SPAN style="COLOR: #333399"><FONT
face="Times New Roman">THE AMERICAN INSTITUTE OF BUSINESS AND
ECONOMICS<o:p></o:p></FONT></SPAN></I></P>
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<H3 style="MARGIN: auto 0in; TEXT-ALIGN: center"
align=center><FONT face="Times New Roman"><B><I><SPAN
style="FONT-SIZE: 10pt; COLOR: black"> </SPAN></I><SPAN
style="mso-spacerun: yes"> </SPAN></B><B
style="mso-bidi-font-weight: normal"><I><SPAN
style="FONT-SIZE: 10pt; COLOR: black"><o:p></o:p></SPAN></I></B></FONT></H3>
<H3 style="MARGIN: auto 0in; TEXT-ALIGN: center"
align=center><I><U><SPAN
style="FONT-SIZE: 12pt; COLOR: red"><FONT
face="Times New Roman">Second Summer Semester: July 3- August
19</FONT></SPAN></U></I></H3>
<P class=MsoNormal
style="MARGIN: 0in 0in 12pt 35.7pt; TEXT-INDENT: -17.85pt; TEXT-ALIGN: justify; mso-margin-top-alt: auto; tab-stops: list .5in"><B><SPAN
style="FONT-SIZE: 10pt"><FONT face="Times New Roman">
</FONT></SPAN></B></P>
<P class=MsoNormal
style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify; tab-stops: list .5in"><SPAN
style="FONT-SIZE: 10pt; COLOR: black; FONT-FAMILY: Symbol; mso-fareast-font-family: Symbol; mso-bidi-font-family: Symbol"><SPAN
style="mso-spacerun: yes"> </SPAN><SPAN
style="mso-spacerun: yes"> </SPAN></SPAN><FONT
face="Times New Roman"><B><SPAN
style="FONT-SIZE: 10pt; COLOR: black"><A
href="../WINDOWS/Application Data/Microsoft/Word/corpfin.htm">Corporate
Finance</A> This course is an introduction to allocation of
capital over time, capital <SPAN class=grame>budgeting
,</SPAN> financial management and other topics, using basic
mathematical models.<I> <U>Monday-Wednesday,
19.00-22.00.</U></I><U> <I><A
href="../WINDOWS/Application Data/Microsoft/Word/faculty.htm#Kontor">Konstantin
Kontor</A></I></U></SPAN></B><SPAN
style="COLOR: #3366ff"><o:p></o:p></SPAN></FONT></P>
<P class=MsoNormal
style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify; tab-stops: list .5in"><SPAN
style="COLOR: #3366ff"><FONT
face="Times New Roman"></FONT></SPAN> </P>
<P class=MsoNormal
style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify; tab-stops: list .5in"><SPAN
style="COLOR: #3366ff"></SPAN><B><SPAN
style="FONT-SIZE: 10pt; COLOR: black; FONT-FAMILY: Symbol"><SPAN
style="mso-spacerun: yes"> </SPAN><SPAN
style="mso-spacerun: yes"> </SPAN></SPAN></B><FONT
face="Times New Roman"><B
style="mso-bidi-font-weight: normal"><U><SPAN
style="FONT-SIZE: 10pt; COLOR: blue; mso-bidi-font-style: italic">Negotiations
and Dispute Resolution</SPAN></U></B><B><I><U><SPAN
style="FONT-SIZE: 10pt; COLOR: black">:
</SPAN></U></I></B><B><SPAN
style="FONT-SIZE: 10pt; COLOR: black"><SPAN
style="mso-spacerun: yes"> </SPAN>This course covers the
theoretical and practical aspects of negotiations and includes
many case studies and exercises. A special feature
of this course is that 4 to 5 Law Students from the
</SPAN></B><st1:country-region><st1:place><B><SPAN
style="FONT-SIZE: 10pt; COLOR: black">U.S.</SPAN></B></st1:place></st1:country-region><B><SPAN
style="FONT-SIZE: 10pt; COLOR: black"> will participatein
this class. This creates opportunities for some cross
cultural negotiation exercises. <EM><U>Monday-Wednesday,
19.00-22.00</U> .</EM> <I><A
href="../WINDOWS/Application Data/Microsoft/Word/faculty.htm#Kontor">Vladimir
Lissniak</A></I></SPAN></B><SPAN
style="COLOR: #3366ff"><o:p></o:p></SPAN></FONT></P>
<P class=MsoNormal
style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify; tab-stops: list .5in"><B><SPAN
style="FONT-SIZE: 10pt; COLOR: black"><A
href="../WINDOWS/Application Data/Microsoft/Word/market.htm"></A></SPAN></B><SPAN
style="COLOR: #3366ff"><FONT
face="Times New Roman"> <o:p></o:p></FONT></SPAN></P>
<P class=MsoNormal
style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify; tab-stops: list .5in"><FONT
face="Times New Roman"><STRONG><SPAN
style="FONT-SIZE: 10pt; COLOR: black"> <A
href="../WINDOWS/Application Data/Microsoft/Word/manact.htm">Managerial
Accounting</A></SPAN></STRONG><EM><B><SPAN
style="FONT-SIZE: 10pt; COLOR: black">
</SPAN></B></EM><STRONG><SPAN
style="FONT-SIZE: 10pt; COLOR: black">Accounting for costs
with applications to managerial decision making.
This course reviews such issues as Cost Allocation, Activity
Based Costing, Budgeting, Standard Costing, Just in Time
Inventory and many other topics. </SPAN></STRONG><EM><B><SPAN
style="FONT-SIZE: 10pt; COLOR: black"><U>Tuesday-Thursday,
19.00-22.00</U>. </SPAN></B></EM><STRONG><SPAN
style="FONT-SIZE: 10pt; COLOR: black"><A
href="../WINDOWS/Application Data/Microsoft/Word/faculty.htm#Franczek"><EM>Arthur
Franczek</EM></A></SPAN></STRONG><EM><SPAN
style="FONT-SIZE: 10pt; COLOR: black"> </SPAN></EM><SPAN
style="FONT-SIZE: 10pt; COLOR: black"> </SPAN><SPAN
style="COLOR: #3366ff"><o:p></o:p></SPAN></FONT></P>
<P class=MsoNormal
style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify; tab-stops: list .5in"><SPAN
style="COLOR: #3366ff"><FONT
face="Times New Roman"> <o:p></o:p></FONT></SPAN></P>
<P class=MsoNormal
style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify; tab-stops: list .5in"><FONT
face="Times New Roman"><EM><B><U><SPAN
style="FONT-SIZE: 10pt; COLOR: blue; mso-bidi-font-size: 12.0pt">Sales
Management: </SPAN></U></B></EM><STRONG><SPAN
style="FONT-SIZE: 10pt; COLOR: black"><FONT size=1>This course
</FONT></SPAN></STRONG></FONT><FONT size=1><STRONG><SPAN
style="FONT-SIZE: 10pt; COLOR: black; FONT-FAMILY: Tahoma; mso-bidi-font-size: 12.0pt">covers
both theoretical and practical aspects of sales management,
including topics such as sales forecasting, demand
forecasting, types of sales and other sales issues. It is
planned that this course will have some highly qualified guest
speakers on this topic.</SPAN></STRONG><STRONG><SPAN
style="FONT-SIZE: 10pt; COLOR: black"><FONT
face="Times New Roman"> </FONT></SPAN></STRONG><STRONG><SPAN
style="FONT-SIZE: 10pt; COLOR: black; FONT-FAMILY: Tahoma">
<EM><U>Tuesday-Thursday</U></EM></SPAN></STRONG><FONT
face="Times New Roman"><EM><U><B><SPAN
style="FONT-SIZE: 10pt; COLOR: black"> </SPAN></B><st1:time
Minute="0" Hour="19"><STRONG><SPAN
style="FONT-SIZE: 10pt; COLOR: black; mso-bidi-font-size: 12.0pt">7
pm to 10 pm</SPAN></STRONG></st1:time><STRONG><SPAN
style="FONT-SIZE: 10pt; COLOR: black; mso-bidi-font-size: 12.0pt">,
<FONT color=#0000ff>Tom Nastas</FONT>, <FONT
color=#0000ff>Professor.</FONT></SPAN></STRONG></U><SPAN
style="FONT-SIZE: 10pt; COLOR: black">
<o:p></o:p></SPAN></EM></FONT></FONT></P>
<P class=MsoNormal
style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify; tab-stops: list .5in"><SPAN
style="COLOR: #3366ff"><FONT face="Times New Roman"><FONT
size=2> <o:p></o:p></FONT></FONT></SPAN></P>
<P class=MsoNormal
style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify; tab-stops: list .5in"><FONT
face="Times New Roman"><SPAN
style="FONT-SIZE: 10pt; COLOR: black">
</SPAN><SPAN
style="COLOR: #3366ff"><o:p></o:p></SPAN></FONT></P>
<P class=MsoNormal
style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify; tab-stops: list .5in"><FONT
face="Times New Roman"><EM><B><SPAN
style="COLOR: #3366ff"> </SPAN></B></EM><STRONG><SPAN
style="COLOR: #333399">
</SPAN></STRONG><B style="mso-bidi-font-weight: normal"><SPAN
style="FONT-SIZE: 11pt; COLOR: #333399">For more
information:<o:p></o:p></SPAN></B></FONT></P>
<P class=MsoNormal
style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto"
align=center><B style="mso-bidi-font-weight: normal"><SPAN
style="FONT-SIZE: 11pt; COLOR: #333399"><FONT
face="Times New Roman">call at 438-1439, 438-0830; </FONT><A
href="http://www.aibec.org/"><FONT
face="Times New Roman">www.aibec.org</FONT></A><FONT
face="Times New Roman">;
aibec@aibec.org</FONT></SPAN></B><SPAN
style="COLOR: #333399"><o:p></o:p></SPAN></P></TD></TR></TBODY></TABLE>
<P class=MsoNormal
style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto"><B><SPAN
style="COLOR: #333399"><FONT
face="Times New Roman"> </FONT></SPAN></B><SPAN
style="COLOR: #333399"><o:p><FONT face="Times New Roman"><BR></P>
<BLOCKQUOTE id=43e3514>
<BLOCKQUOTE id=dc881ddf>
<BLOCKQUOTE id=0>
<DIV><FONT face="Arial Cyr" size=2>
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<P class=MsoNormal><SPAN
style="COLOR: #333399"> <o:p></o:p></SPAN></P></TD>
<TD
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style="COLOR: #333399"><o:p></o:p></SPAN></P>
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<TBODY>
<TR
style="HEIGHT: 77.75pt; mso-yfti-irow: 0; mso-yfti-lastrow: yes">
<TD
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style="TEXT-ALIGN: justify"><FONT size=2>
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<TBODY>
<TR
style="HEIGHT: 77.75pt; mso-yfti-irow: 0; mso-yfti-lastrow: yes">
<TD
style="PADDING-RIGHT: 3.75pt; PADDING-LEFT: 3.75pt; PADDING-BOTTOM: 3.75pt; WIDTH: 99.3%; PADDING-TOP: 3.75pt; HEIGHT: 77.75pt"
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align=justify><SPAN lang=EN-US
style="mso-ansi-language: EN-US"><STRONG><EM> <U><FONT
color=#ff0000>AIBEc Faculty for Summer
2006(May 15 to August
19)</FONT></U></EM></STRONG><o:p></o:p></SPAN></DIV>
<P class=MsoNormal align=justify><U><B
style="mso-bidi-font-weight: normal"><I
style="mso-bidi-font-style: normal"><SPAN
lang=EN-US
style="FONT-SIZE: 10pt; mso-bidi-font-size: 12.0pt; mso-ansi-language: EN-US"><o:p><SPAN
style="TEXT-DECORATION: none"> </SPAN></o:p></SPAN></I></B><B
style="mso-bidi-font-weight: normal"><I><SPAN
lang=EN-US
style="FONT-SIZE: 10pt; mso-bidi-font-size: 12.0pt; mso-ansi-language: EN-US">Art
Franczek</SPAN></I></B></U><B
style="mso-bidi-font-weight: normal"><SPAN
lang=EN-US
style="FONT-SIZE: 10pt; mso-bidi-font-size: 12.0pt; mso-ansi-language: EN-US">
(</SPAN></B><B
style="mso-bidi-font-weight: normal"><SPAN
style="FONT-SIZE: 10pt; mso-bidi-font-size: 12.0pt"><A
href="mailto:artf@online.ru"><I
style="mso-bidi-font-style: normal"><SPAN
lang=EN-US
style="mso-ansi-language: EN-US">artf@online.ru</SPAN></I></A></SPAN></B><B
style="mso-bidi-font-weight: normal"><SPAN
lang=EN-US
style="FONT-SIZE: 10pt; mso-bidi-font-size: 12.0pt; mso-ansi-language: EN-US">,
373 6241): Art holds an MBA and MST from
</SPAN></B><st1:place><st1:PlaceName><B
style="mso-bidi-font-weight: normal"><SPAN
lang=EN-US
style="FONT-SIZE: 10pt; mso-bidi-font-size: 12.0pt; mso-ansi-language: EN-US">DePaul</SPAN></B></st1:PlaceName><SPAN
lang=EN-US
style="FONT-SIZE: 10pt; mso-bidi-font-size: 12.0pt; mso-ansi-language: EN-US">
</SPAN><st1:PlaceType><B><SPAN lang=EN-US
style="FONT-SIZE: 10pt; mso-bidi-font-size: 12.0pt; mso-ansi-language: EN-US">University</SPAN></B></st1:PlaceType></st1:place><B><SPAN
lang=EN-US
style="FONT-SIZE: 10pt; mso-bidi-font-size: 12.0pt; mso-ansi-language: EN-US">
and is a CPA. He has many years of experience as
a Tax Manager for a major international company.
He has taught at AIBEc for 10 years and has
taught over 1000 Russian students. He is
currently co-chair of the Customs Committee at
Am Cham and has been an active participant on
the Tax Committee for 10 years. He has
written many articles on Accounting/Tax issues
and has recently published a workbook on IAS
Accounting and is currently working with The
World Bank on a project to convert Russian
Accounting to IAS.<o:p></o:p></SPAN></B></P>
<P class=MsoNormal style="TEXT-ALIGN: justify"
align=justify><B><I><SPAN lang=EN-US
style="FONT-SIZE: 10pt; mso-bidi-font-size: 12.0pt; mso-ansi-language: EN-US"><o:p> </o:p></SPAN></I></B><B><I><U><SPAN
lang=EN-US
style="FONT-SIZE: 10pt; mso-bidi-font-size: 12.0pt; mso-ansi-language: EN-US">Konstantin
Kontor</SPAN></U></I></B><B><SPAN lang=EN-US
style="FONT-SIZE: 10pt; mso-bidi-font-size: 12.0pt; mso-ansi-language: EN-US">
(</SPAN></B><B><SPAN
style="FONT-SIZE: 10pt; mso-bidi-font-size: 12.0pt"><A
href="mailto:kkontor@kkp-partners.ru"><EM><SPAN
lang=EN-US
style="mso-ansi-language: EN-US">kkontor@kkp-partners.ru</SPAN></EM></A></SPAN></B><B><SPAN
lang=EN-US
style="FONT-SIZE: 10pt; mso-bidi-font-size: 12.0pt; mso-ansi-language: EN-US"><EM>):
</EM>Kostya holds an MBA from UCLA (a top ranked
MBA Program) and has worked for several years as
the director of research for RINACO Plus, a
major </SPAN></B><st1:City><st1:place><B><SPAN
lang=EN-US
style="FONT-SIZE: 10pt; mso-bidi-font-size: 12.0pt; mso-ansi-language: EN-US">Moscow</SPAN></B></st1:place></st1:City><B><SPAN
lang=EN-US
style="FONT-SIZE: 10pt; mso-bidi-font-size: 12.0pt; mso-ansi-language: EN-US">
brokerage firm. He is one of the first students
to graduate from AIBEc in 1992 and has taught
finance at AIBEc since
1994.<o:p></o:p></SPAN></B></P>
<P class=MsoNormal
style="TEXT-ALIGN: justify"><EM><B><U><SPAN
lang=EN-US
style="FONT-SIZE: 10pt; mso-bidi-font-size: 12.0pt; mso-ansi-language: EN-US">Tom
Nastas</SPAN></U></B><B><SPAN lang=EN-US
style="FONT-SIZE: 10pt; mso-bidi-font-size: 12.0pt; mso-ansi-language: EN-US">
(</SPAN></B><B><SPAN
style="FONT-SIZE: 10pt; mso-bidi-font-size: 12.0pt"><A
href="mailto:tom@online.ru"><SPAN lang=EN-US
style="mso-ansi-language: EN-US">tom@online.ru</SPAN></A></SPAN></B></EM><B><SPAN
lang=EN-US
style="FONT-SIZE: 10pt; mso-bidi-font-size: 12.0pt; mso-ansi-language: EN-US">):
Tom holds an MBA from
</SPAN></B><st1:place><st1:PlaceName><B><SPAN
lang=EN-US
style="FONT-SIZE: 10pt; mso-bidi-font-size: 12.0pt; mso-ansi-language: EN-US">Michigan</SPAN></B></st1:PlaceName><B><SPAN
lang=EN-US
style="FONT-SIZE: 10pt; mso-bidi-font-size: 12.0pt; mso-ansi-language: EN-US">
</SPAN></B><st1:PlaceType><B><SPAN lang=EN-US
style="FONT-SIZE: 10pt; mso-bidi-font-size: 12.0pt; mso-ansi-language: EN-US">State</SPAN></B></st1:PlaceType></st1:place><B><SPAN
lang=EN-US
style="FONT-SIZE: 10pt; mso-bidi-font-size: 12.0pt; mso-ansi-language: EN-US">
( a top ranked MBA Program). He has many years
of experience a Venture Capitalist in
</SPAN></B><st1:country-region><st1:place><B><SPAN
lang=EN-US
style="FONT-SIZE: 10pt; mso-bidi-font-size: 12.0pt; mso-ansi-language: EN-US">Russia</SPAN></B></st1:place></st1:country-region><B><SPAN
lang=EN-US
style="FONT-SIZE: 10pt; mso-bidi-font-size: 12.0pt; mso-ansi-language: EN-US">
and other emerging markets. He has several years
of experience teaching marketing at
</SPAN></B><st1:place><st1:PlaceName><B><SPAN
lang=EN-US
style="FONT-SIZE: 10pt; mso-bidi-font-size: 12.0pt; mso-ansi-language: EN-US">Michigan</SPAN></B></st1:PlaceName><B><SPAN
lang=EN-US
style="FONT-SIZE: 10pt; mso-bidi-font-size: 12.0pt; mso-ansi-language: EN-US">
</SPAN></B><st1:PlaceType><B><SPAN lang=EN-US
style="FONT-SIZE: 10pt; mso-bidi-font-size: 12.0pt; mso-ansi-language: EN-US">State</SPAN></B></st1:PlaceType><B><SPAN
lang=EN-US
style="FONT-SIZE: 10pt; mso-bidi-font-size: 12.0pt; mso-ansi-language: EN-US">
</SPAN></B><st1:PlaceType><B><SPAN lang=EN-US
style="FONT-SIZE: 10pt; mso-bidi-font-size: 12.0pt; mso-ansi-language: EN-US">University</SPAN></B></st1:PlaceType></st1:place><B><SPAN
lang=EN-US
style="FONT-SIZE: 10pt; mso-bidi-font-size: 12.0pt; mso-ansi-language: EN-US">.<o:p></o:p></SPAN></B></P>
<P class=MsoNormal
style="TEXT-ALIGN: justify"><B><SPAN lang=EN-US
style="FONT-SIZE: 10pt; mso-bidi-font-size: 12.0pt; mso-ansi-language: EN-US"><o:p><B><SPAN><EM><U>Vladinir
Lissniak</U> <U>(</U></EM><A
href="mailto:vlissniak@pericles.ru"><EM>vlissniak@pericles.ru</EM></A><U>
292-5188</U>):
</SPAN></B><st1:City><st1:place><B><SPAN
lang=EN-US>Vladimir</SPAN></B></st1:place></st1:City><B><SPAN
lang=EN-US> represented
</SPAN></B><st1:country-region><st1:place><B><SPAN
lang=EN-US>Russia</SPAN></B></st1:place></st1:country-region><B><SPAN
lang=EN-US> in
</SPAN></B><st1:country-region><st1:place><B><SPAN
lang=EN-US>France</SPAN></B></st1:place></st1:country-region><B><SPAN
lang=EN-US> for a number of years as a diplomat.
He has experience in bi-and multilateral
negotiations both in public and private sectors.
</SPAN></B><st1:City><st1:place><B><SPAN
lang=EN-US>Vladimir</SPAN></B></st1:place></st1:City><B><SPAN
lang=EN-US> has conducted negotiation seminars
for Baker & McKenzie and for other
professional organizations. </SPAN></B></P>
<P
class=MsoNormal><B><SPAN><U><EM> </EM></U></SPAN></B></P></o:p></SPAN></B>
<P class=MsoNormal align=center><B
style="mso-bidi-font-weight: normal"><SPAN
lang=EN-US
style="FONT-SIZE: 11pt; COLOR: #333399; mso-ansi-language: EN-US">For
more information:<o:p></o:p></SPAN></B></P>
<P class=MsoNormal style="TEXT-ALIGN: center"
align=center><B
style="mso-bidi-font-weight: normal"><SPAN
lang=EN-US
style="FONT-SIZE: 11pt; COLOR: #333399; mso-ansi-language: EN-US">call
at 438-1439, 438-0830; <A
href="http://www.aibec.org/">www.aibec.org</A>;
aibec@aibec.org</SPAN></B><SPAN lang=EN-US
style="COLOR: #333399; mso-ansi-language: EN-US"><o:p></o:p></SPAN></P></TD></TR></TBODY></TABLE></FONT></P>
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style="COLOR: #333399; mso-ansi-language: EN-US"><o:p> </o:p></SPAN></P></TD></TR></TBODY></TABLE>
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align=center><B><SPAN lang=EN-US
style="COLOR: #333399; mso-ansi-language: EN-US"><o:p></o:p></SPAN></B></P></TD></TR></TBODY></TABLE>
<P class=MsoNormal><SPAN lang=EN-US
style="mso-ansi-language: EN-US"><o:p> </o:p></SPAN></P></FONT></DIV></BLOCKQUOTE>
<P></P></BLOCKQUOTE>
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