To our timeline today I will walk you through briefly. Following me will be Monty who will be giving a 45 minute overview of the overall US economy, our state of the industry and a company overview. Following him, David Kimichik will give a capital structure and balance sheet overview and summary. And following that we will take a ten minute break to allow you all to catch up on your e-mails, grab a cup of coffee. We also have the ability to, we have some available slots still far one on ones. If you would like to meet with management either this afternoon or tomorrow, we will also be around. So you can see Taylor or Andrea to set those up. In addition during the coffee break as you hopefully saw when you came in we will be having a photo montage, screens of some of the assets that Ashford owns.
Following the coffee break, Douglas Kessler, our President will be giving a little bit perspective on leverage. We get some commentary and questions a lot about how does Ashford view its leverage and because we do tend to be little bit different way than our peers and we are going to kind of walk you through a little bit of how we approach it and why and give you some insight to how we think.
Following that Monty will give an update our Highland Hospitality acquisition and then kind of the next steps for Ashford and that will take us to 11 o'clock. Following that there will be a 30-minute question and answer session all this will be up here. At that time we will have Taylor and Andrea will have handheld mics, we ask that you do ask questions into the mics since this is been recorded and following that we’ll have an optional lunch with management. We also do have a gift for you all, we have a nice bottle of Silver Oak with the Ashford emblem, logo on it and it is under the $100 limit, so a retail value of $99.99.