Here is Vermeulens 2015 Q3 market outlook document outlining the trends with construction cost forecasting, procurement and timing decisions for this rising market.
This presentation will inform you of better pricing and more accurate budget figures as well as deliver up-do-date construction costs forecasts based on recent Congressional spending cuts, commodity prices, and cost data from more than 100 projects.
How to beat hyper-inflation without eroding shareholders value?Deepak Agrawal
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What's the way to defeat hyper-inflation without eroding shareholders value?
EPIC RESEARCH SINGAPORE - Daily SGX Singapore report of 25 March 2015Epic Research Singapore
Epic Research Singapore have best technical research team, Our research team provide Daily report on SGX Singapore and SGX Exchange, You can get Daily Favorable Tips & future Strategy for SGX Stocks Market.
EPIC RESEARCH SINGAPORE - Daily SGX Singapore report of 16 February 2015Epic Research Singapore
Epic Research private limited have best technical research team, Our research team provide Daily report on SGX Singapore and SGX Exchange, You can get Daily Favorable Tips & future Strategy for SGX Stocks Market.
Here is Vermeulens 2015 Q3 market outlook document outlining the trends with construction cost forecasting, procurement and timing decisions for this rising market.
This presentation will inform you of better pricing and more accurate budget figures as well as deliver up-do-date construction costs forecasts based on recent Congressional spending cuts, commodity prices, and cost data from more than 100 projects.
How to beat hyper-inflation without eroding shareholders value?Deepak Agrawal
Normally we see during hyper-inflationary period shareholders value gets eroded.
What's the way to defeat hyper-inflation without eroding shareholders value?
EPIC RESEARCH SINGAPORE - Daily SGX Singapore report of 25 March 2015Epic Research Singapore
Epic Research Singapore have best technical research team, Our research team provide Daily report on SGX Singapore and SGX Exchange, You can get Daily Favorable Tips & future Strategy for SGX Stocks Market.
EPIC RESEARCH SINGAPORE - Daily SGX Singapore report of 16 February 2015Epic Research Singapore
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E book creating-unified-it-monitoring-and-management-in-your-environment-chap...Denis Akimov
Creating Unified IT Monitoring and Management in Your Environment
Don Jones
Material Type: Open Textbook
Technical Format: HTML/Text
Date Added to MERLOT: Февраль 21, 2012
Date Modified in MERLOT: Август 11, 2014
Author:
Don Jones
Nimsoft
http://www.merlot.org/merlot/viewMaterial.htm?id=631140
Industry Insights - Presented at Salary Benchmark Press Conference (Nov 4, 2015)Karir.com
About Karir.com
What our database is telling us about industries during October 2015: Service, Financial/Banking, Trading, Retail, Manufacturing
Karir.com & Kelly Services Partnership: background, our mission
How career seekers & companies can benefit from the Salary Benchmark feature
User experience
We all know that the SaaS landscape is ever-changing. That’s precisely why it’s crucial for SaaS businesses to constantly evolve and change their strategies and tactics. But without objective data on what works and what doesn’t, shifting strategies would be mere conjecture.
To help these companies we’re releasing, for the second year in a row, a massive data set that takes a look at what does and doesn’t work when it comes to efficiently growing a SaaS company. This year, we placed special emphasis on the explosion of product led growth – a go-to-market strategy that underpins some of today’s most successful businesses including Atlassian, Dropbox and Expensify. Companies with a product led growth (PLG) strategy exhibit unique financial and operating characteristics like rapid scalability, economic efficiency and outsized investment in technology that enable them to grow at more efficient rates.
Our survey uncovered trends around how fast startups are growing (hint: it’s tough to break in, but the best performers are growing faster than ever), the emergence of SaaS companies all around the world, and early indications of progress on hiring diverse candidates.
E book creating-unified-it-monitoring-and-management-in-your-environment-chap...Denis Akimov
Creating Unified IT Monitoring and Management in Your Environment
Don Jones
Material Type: Open Textbook
Technical Format: HTML/Text
Date Added to MERLOT: Февраль 21, 2012
Date Modified in MERLOT: Август 11, 2014
Author:
Don Jones
Nimsoft
http://www.merlot.org/merlot/viewMaterial.htm?id=631140
Industry Insights - Presented at Salary Benchmark Press Conference (Nov 4, 2015)Karir.com
About Karir.com
What our database is telling us about industries during October 2015: Service, Financial/Banking, Trading, Retail, Manufacturing
Karir.com & Kelly Services Partnership: background, our mission
How career seekers & companies can benefit from the Salary Benchmark feature
User experience
We all know that the SaaS landscape is ever-changing. That’s precisely why it’s crucial for SaaS businesses to constantly evolve and change their strategies and tactics. But without objective data on what works and what doesn’t, shifting strategies would be mere conjecture.
To help these companies we’re releasing, for the second year in a row, a massive data set that takes a look at what does and doesn’t work when it comes to efficiently growing a SaaS company. This year, we placed special emphasis on the explosion of product led growth – a go-to-market strategy that underpins some of today’s most successful businesses including Atlassian, Dropbox and Expensify. Companies with a product led growth (PLG) strategy exhibit unique financial and operating characteristics like rapid scalability, economic efficiency and outsized investment in technology that enable them to grow at more efficient rates.
Our survey uncovered trends around how fast startups are growing (hint: it’s tough to break in, but the best performers are growing faster than ever), the emergence of SaaS companies all around the world, and early indications of progress on hiring diverse candidates.
Our Stock Pitch For Mailing Shipping Services PowerPoint Presentation PPT Slide Template is the perfect way to pitch your stock. We have researched thousands of stock pitches and designed the most impactful way to convince your investors to invest in your equity. https://bit.ly/3eZUTut
Chatty Kathy - UNC Bootcamp Final Project Presentation - Final Version - 5.23...John Andrews
SlideShare Description for "Chatty Kathy - UNC Bootcamp Final Project Presentation"
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Discover how Chatty Kathy, an innovative project developed at the UNC Bootcamp, aims to tackle the challenge of low physical activity among older adults. Our AI-driven solution uses peer interaction to boost and sustain exercise levels, significantly improving health outcomes. This presentation covers our problem statement, the rationale behind Chatty Kathy, synthetic data and persona creation, model performance metrics, a visual demonstration of the project, and potential future developments. Join us for an insightful Q&A session to explore the potential of this groundbreaking project.
Project Team: Jay Requarth, Jana Avery, John Andrews, Dr. Dick Davis II, Nee Buntoum, Nam Yeongjin & Mat Nicholas
Levelwise PageRank with Loop-Based Dead End Handling Strategy : SHORT REPORT ...Subhajit Sahu
Abstract — Levelwise PageRank is an alternative method of PageRank computation which decomposes the input graph into a directed acyclic block-graph of strongly connected components, and processes them in topological order, one level at a time. This enables calculation for ranks in a distributed fashion without per-iteration communication, unlike the standard method where all vertices are processed in each iteration. It however comes with a precondition of the absence of dead ends in the input graph. Here, the native non-distributed performance of Levelwise PageRank was compared against Monolithic PageRank on a CPU as well as a GPU. To ensure a fair comparison, Monolithic PageRank was also performed on a graph where vertices were split by components. Results indicate that Levelwise PageRank is about as fast as Monolithic PageRank on the CPU, but quite a bit slower on the GPU. Slowdown on the GPU is likely caused by a large submission of small workloads, and expected to be non-issue when the computation is performed on massive graphs.
Explore our comprehensive data analysis project presentation on predicting product ad campaign performance. Learn how data-driven insights can optimize your marketing strategies and enhance campaign effectiveness. Perfect for professionals and students looking to understand the power of data analysis in advertising. for more details visit: https://bostoninstituteofanalytics.org/data-science-and-artificial-intelligence/
Vermeulens Beyond Estimation Market Outlook - Q1 2015
1. Since 1972
Service Beyond Estimation
®
North America’s Construction Economist
Vermeulens.com
B o s t o n w T o r o n t o w D a l l a s w D e n v e r w L o s A n g e l e s
Beyond Estimation Market Outlook
2. 2
AIA Continuing Education
Vermeulens is a Registered Provider with The American Institute of Architects
Continuing Education Systems. Credit earned on completion of this program
will be reported to CES Records for AIA members. Certificates of Completion
for non-AIA members are available on request.
This program is registered with the AIA/CES for continuing professional
education. As such, it does not include content that may be deemed or
construed to be an approval or endorsement by the AIA of any material of
construction or any method or manner of handling, using, distributing, or
dealing in any material or product. Questions related to specific materials,
methods, and services will be addressed at the conclusion of this
presentation.
N o r t h A m e r i c a ’ s C o n s t r u c t i o n E c o n o m i s t
Service Beyond EstimationService Beyond Estimation
3. 3
Beyond Estimation Market Outlook®
Learning Objectives
B o s t o n w T o r o n t o w D a l l a s w D e n v e r w L o s A n g e l e s
Cost Reconciliation Tracker
Present trends in median trade costs from January 2009 – Current
Macro Economics
Understand the Macro Economic impacts on Construction Volume and Cost
Forecast
Forecast for Future Construction Costs
Procurement Strategy
In light of current market conditions, recommendations on project procurement
4. 4
Beyond Estimation Market Outlook®
Where We Are…
N o r t h A m e r i c a ’ s C o n s t r u c t i o n E c o n o m i s t
7. 7
Code Group VCC CM CM-VCC VCC CM CM-VCC
01 Allowances $1,156,805 $2,422,380 $1,265,575 $2,651,790 $2,672,730 $20,940
02 Site Work $2,636,810 $3,773,428 $1,136,618 $2,918,155 $2,882,279 ($35,876)
03 Concrete $5,840,270 $5,065,081 ($775,190) $5,065,361 $5,065,081 ($280)
04 Masonry $1,547,241 $1,767,385 $220,144 $1,615,526 $1,609,395 ($6,130)
05 Metals $17,945,452 $17,804,383 ($141,069) $15,675,089 $15,577,004 ($98,085)
06 Wood/Plastic $3,172,732 $3,831,671 $658,939 $3,694,276 $3,600,999 ($93,277)
07 Thermal/Moisture Protection $2,903,951 $3,046,873 $142,922 $3,099,398 $3,086,080 ($13,319)
08 Doors/Windows $17,219,666 $15,756,579 ($1,463,087) $15,214,307 $15,299,926 $85,619
09 Finishes $9,635,770 $9,399,224 ($236,546) $10,135,975 $10,137,758 $1,782
10 Specialties $1,335,983 $1,163,012 ($172,971) $1,410,825 $1,418,709 $7,884
11 Equipment $1,127,700 $1,852,358 $724,658 $1,692,000 $1,693,414 $1,414
12 Furnishings $784,846 $302,393 ($482,453) $559,342 $573,596 $14,255
13 Special Construction $300,000 $148,575 ($151,425) $150,000 $148,575 ($1,425)
14 Conveying Systems $4,858,875 $7,212,645 $2,353,770 $5,963,888 $5,993,138 $29,250
15 Mechanical $28,949,381 $35,232,816 $6,283,436 $29,127,187 $29,493,221 $366,034
16 Electrical $15,451,608 $16,700,277 $1,248,669 $16,476,313 $16,451,613 ($24,700)
17 Permits & Fees $19,075,543 $20,452,111 $1,376,568 $20,043,336 $20,051,467 $8,130
18 Contingencies $16,841,472 $14,102,030 ($2,739,443) $15,684,472 $15,697,176 $12,704
19 Enabling $22,704,456 $22,704,458 $2 $22,704,458 $22,704,458 $0
20 Total Construction Costs $173,488,558 $182,737,674 $9,249,116 $173,881,696 $174,156,616 $274,920
Beyond Estimation Market Outlook®
Cost Reconciliation Tracker®
B o s t o n w T o r o n t o w D a l l a s w D e n v e r w L o s A n g e l e s
8. 8
Beyond Estimation Market Outlook®
Cost Reconciliation Tracker®
N o r t h A m e r i c a ’ s C o n s t r u c t i o n E c o n o m i s t
9. Typical Institutional Project – Direct Trade Cost
Recession Decline -14.0%
2011 +2.0%
2012 +4.0%
2013 +5.0%
2014 +6.0%
Assumes trade-weighted average of individual percentage trade reduction
9
Beyond Estimation Market Outlook®
Construction Cost Impact
B o s t o n w T o r o n t o w D a l l a s w D e n v e r w L o s A n g e l e s
11. 950
675 675 750 750
1150
1075 1050
1150 1250
1300
1000
650
950
1300
0
250
500
750
1000
1250
1500
1750
2000
2250
2500
2750
3000
3250
3500
3750
High Growth Market Adjustment Cost Recovery High Growth
Markup
Labor
Material
3,400
2,750
2,375
2,850
3,300
11
Beyond Estimation Market Outlook®
Structural Steel Pricing
B o s t o n w T o r o n t o w D a l l a s w D e n v e r w L o s A n g e l e s
12. 12
Beyond Estimation Market Outlook®
Contingency
Project Contingency and Escalation Recommendations
Design Contingency
Preliminary Design 10% to 15%
Schematic Design 6% to 9%
Design Development 3% to 6%
Contract Documents 0% to 3%
Construction Contingency 3% to 5%
Escalation - based on the Market Outlook and Local index 3 to 9%
Bidding Contingency 0% to 5%
Project Contingency (Owner) 5% - 15%
N o r t h A m e r i c a ’ s C o n s t r u c t i o n E c o n o m i s t
14. 80
90
100
110
120
130
140
Nominal US Dollar Broad Index
14
-26% +18% -15% +24%
Beyond Estimation Market Outlook®
US Dollar Risk Hedge
N o r t h A m e r i c a ’ s C o n s t r u c t i o n E c o n o m i s t
17. 0
5
10
15
20
25
30
35
40
45
50
Dow Jones Commodity Index
17
+168% -57% +72%
Beyond Estimation Market Outlook®
US Dollar Impact on Commodities
B o s t o n w T o r o n t o w D a l l a s w D e n v e r w L o s A n g e l e s
-50%
22. 22
01/31/00 02/02/00 02/04/00 02/06/00 02/08/00 02/10/00
90,000
95,000
100,000
105,000
110,000
115,000
120,000
125,000
130,000
135,000
140,000
145,000
150,000
90,000
95,000
100,000
105,000
110,000
115,000
120,000
125,000
130,000
135,000
140,000
145,000
150,000
Thousands
Beyond Estimation Market Outlook®
US Total Employment (Thousands)
B o s t o n w T o r o n t o w D a l l a s w D e n v e r w L o s A n g e l e s
23. 23
01/01/01 09/28/03 06/24/06 03/20/09 12/15/11 09/10/14 06/06/17
100,000
105,000
110,000
115,000
120,000
125,000
130,000
135,000
140,000
145,000
150,000
155,000
160,000
100,000
105,000
110,000
115,000
120,000
125,000
130,000
135,000
140,000
145,000
150,000
155,000
160,000
6.2M
6.2M
245,000 / month
Beyond Estimation Market Outlook®
US Total Employment (Thousands)
N o r t h A m e r i c a ’ s C o n s t r u c t i o n E c o n o m i s t
26. 26
Beyond Estimation Market Outlook®
US Job Growth
02-Jan-87 24-Jun-92 15-Dec-97 07-Jun-03 27-Nov-08 20-May-14
500
5,000
-200
-100
0
100
200
300
400
6 Month Average Job Growth NYSE Vermeulens
B o s t o n w T o r o n t o w D a l l a s w D e n v e r w L o s A n g e l e s
29. 29
Beyond Estimation Market Outlook®
Construction Labor Utilization Rate
B o s t o n w T o r o n t o w D a l l a s w D e n v e r w L o s A n g e l e s
30. 30
Beyond Estimation Market Outlook®
Construction Labor Utilization Rate
N o r t h A m e r i c a ’ s C o n s t r u c t i o n E c o n o m i s t
31. National
(-30% + 18%)
Denver
(-27% + 43%)
Houston
(-17% + 18%)
Dallas
(-21% + 22%)
Boston
(-25% + 28%)
31
Beyond Estimation Market Outlook®
Regional Construction Labor (Thousands)
140
150
160
170
180
190
200
210
220
Dallas
140
150
160
170
180
190
200
210
220
Houston
60
70
80
90
100
110
120
Boston
60
70
80
90
100
110
120
Denver
B o s t o n w T o r o n t o w D a l l a s w D e n v e r w L o s A n g e l e s
32. National
(-30% + 18%)
San Jose
(-35% + 43%)
New York
(-19% + 19%)
Seattle
(-38% + 38%)
San Francisco
(-33% + 32%)
32
Beyond Estimation Market Outlook®
Regional Construction Labor (Thousands)
200
220
240
260
280
300
320
340
360
380
400
New York
60
70
80
90
100
110
120
130
140
San Francisco
50
60
70
80
90
100
110
120
130
140
Seattle
20
25
30
35
40
45
50
55
60
San Jose
N o r t h A m e r i c a ’ s C o n s t r u c t i o n E c o n o m i s t
33. National
(-30% + 18%)
Philadelphia
(-25% + 15%)
Portland
(-31% + 24%)
Detroit
(-42% + 40%)
Baltimore
(-21% + 11%)
33
20
30
40
50
60
70
80
Portland
Beyond Estimation Market Outlook®
Regional Construction Labor (Thousands)
40
50
60
70
80
90
100
110
120
Detroit
50
55
60
65
70
75
80
85
90
95
100
Baltimore
60
70
80
90
100
110
120
130
140
Philadelphia
B o s t o n w T o r o n t o w D a l l a s w D e n v e r w L o s A n g e l e s
34. National
(-30% + 18%)
Minneapolis
(-38% + 33%)
Los Angeles
(-35% + 24%)
Washington DC
(-27% + 7%)
Atlanta
(-38% + 21%)
34
Beyond Estimation Market Outlook®
Regional Construction Labor (Thousands)
25
35
45
55
65
75
85
95
105
Minneapolis
80
90
100
110
120
130
140
150
Atlanta
100
110
120
130
140
150
160
170
180
190
200
Washington DC
150
170
190
210
230
250
270
290
Los Angeles
N o r t h A m e r i c a ’ s C o n s t r u c t i o n E c o n o m i s t
35. National
(-30% + 18%)
Chicago
(-33% + 10%)
San Diego
(-42% + 21%)
Miami
(-49% + 26%)
Phoenix
(-55% + 23%)
35
60
80
100
120
140
160
180
200
220
Phoenix
50
70
90
110
130
150
170
190
Miami
Beyond Estimation Market Outlook®
Regional Construction Labor (Thousands)
100
120
140
160
180
200
220
240
Chicago
50
55
60
65
70
75
80
85
90
95
100
San Diego
B o s t o n w T o r o n t o w D a l l a s w D e n v e r w L o s A n g e l e s
37. High/Low
Total -37%
Infra -11%
Res -66%
Non Res -41%
Low/Current
Total +40%
Infra +29%
Res +62%
Non Res +37%
37
Beyond Estimation Market Outlook®
US Construction Volume
0
250
500
750
1,000
1,250
Put In Place Construction Annualized Billions)
Non Residential Residential Infrastructure
B o s t o n w T o r o n t o w D a l l a s w D e n v e r w L o s A n g e l e s
39. 05-Feb-00 05-Feb-00 06-Feb-00 06-Feb-00 06-Feb-00 07-Feb-00 07-Feb-00 08-Feb-00 08-Feb-00 08-Feb-00 09-Feb-00 09-Feb-00 09-Feb-00 10-Feb-00 10-Feb-00 11-Feb-00 11-Feb-00
0
2,000
4,000
6,000
8,000
10,000
12,000
700,000
800,000
900,000
1,000,000
1,100,000
1,200,000
1,300,000
39
Beyond Estimation Market Outlook®
Construction Volume (Millions) and NYSE
B o s t o n w T o r o n t o w D a l l a s w D e n v e r w L o s A n g e l e s
40. 40
Indicator Bottom Increase
Equities March 2009 +154%
Commodities February 2009 - 14%
GDP Q2 2009 2.1% Annual
Employment February 2010 12.2M
Non Res Volume February 2011 + 37%
Beyond Estimation Market Outlook®
Economic Summary
N o r t h A m e r i c a ’ s C o n s t r u c t i o n E c o n o m i s t
41. 41
Beyond Estimation Market Outlook®
Forecast
B o s t o n w T o r o n t o w D a l l a s w D e n v e r w L o s A n g e l e s
42. 42
2008 Peak to Bottom 2010: - 14.0%
Change in 2011: + 2.0%
Change in 2012: + 4.0%
Change in 2013: + 5.0%
Change in 2014: + 6.0%
+ 5% + 7%2015: + 10%
+ 4% + 6%2016: + 9%
Beyond Estimation Market Outlook®
Forecast
+ 3% + 5%2017: + 8%
N o r t h A m e r i c a ’ s C o n s t r u c t i o n E c o n o m i s t
44. 44
Recommendations
Change pricing models to reflect higher construction cost
escalation at schematic design
Remove MEP & Interiors from Core/Shell package
During a high inflationary market – cost advantage of early
packages
Beyond Estimation Market Outlook®
Procurement Strategy BWH
N o r t h A m e r i c a ’ s C o n s t r u c t i o n E c o n o m i s t
45. 45
150.0
170.0
190.0
210.0
230.0
250.0
270.0
Enabling Package (Slurry Wall &
Excavation)
100% CD GMP
Early Steel, Elevators and
Design Assist Enclosure
+0.6% +8.5% per year -14.0%
Procurement Strategy Dana Farber
Beyond Estimation Market Outlook®
B o s t o n w T o r o n t o w D a l l a s w D e n v e r w L o s A n g e l e s
46. 46
Recommendations
Distinct early packages (no cross pollination)
Detailed concept design options to marry program and budget
Timely decision making at conceptual design – avoid escalation
Use of bidding contingency to mitigate market risk
GMP 100% Documentation = lowest cost
Beyond Estimation Market Outlook®
Procurement Strategy Dana Farber
N o r t h A m e r i c a ’ s C o n s t r u c t i o n E c o n o m i s t
47. 220
Construction Trendline (3.1%)
CPI Trendline (2.7%)
High
Low
Vermeulens Index
47
SD DD CD
Enabling
Structure & Envelope
Interiors & MEP
Concept Design
Beyond Estimation Market Outlook®
Procurement Strategy
B o s t o n w T o r o n t o w D a l l a s w D e n v e r w L o s A n g e l e s
48. 48
When Is CM @ Risk Recommended
Fast track projects
•no time for 100% Contract Documents prior to starting
construction
Very busy construction markets
CM relationships required to get subcontractors to bid on
your project
Financing requires a GMP in order to proceed
Complicated renovations or additions interfacing with operating
facilities
Beyond Estimation Market Outlook®
CM @ Risk
N o r t h A m e r i c a ’ s C o n s t r u c t i o n E c o n o m i s t
49. 49
Beyond Estimation Market Outlook®
CM @ Risk
15%
10%
5%
0%
>
>
>
>
1. GMP at DD • 10-15% premium
• End costs vary depending on completeness
of documents, relationship of Owner to CM,
cost control process
2. GMP at CD • 5-10% premium
• Proponents provide estimate of costs and
commit to general requirements and fee
3. Modified Bid • 0-5% premium
• Proponents provide GMP based on
completed construction documents
4. Lump-Sum Bid • 6-8 pre-qualified general contractors submit
lump-sum bids for complete scope of work
B o s t o n w T o r o n t o w D a l l a s w D e n v e r w L o s A n g e l e s
50. 50
What Are The Added Costs
Beyond Estimation Market Outlook®
CM @ Risk
Construction Contingency 2% to 5%
General Conditions & Requirements 2% to 5%
Higher Service Level
Higher Insurance Levels
Fees 0% to 1%
Sub Contractor Selection/Pricing 2% to 5%
High Level of Service & Quality
Highly Qualified
Scope Holds
N o r t h A m e r i c a ’ s C o n s t r u c t i o n E c o n o m i s t
51. Strategic Early Procurement Packages
Escalation is extremely variable across the country
Evaluate Delivery Options and GMP Timing
Watch Job Creation for Continued Growth
51
Beyond Estimation Market Outlook®
Recommendations
B o s t o n w T o r o n t o w D a l l a s w D e n v e r w L o s A n g e l e s
52. Track Record
Project Volume & Benchmarking
Consensus Approach in Reconciliation
Market Outlook
Conceptual Estimating
Trusted Advisor
Beyond Estimation Market Outlook®
Why Vermeulens
N o r t h A m e r i c a ’ s C o n s t r u c t i o n E c o n o m i s t
53. Beyond Estimation Market Outlook
Service Beyond Estimation
North America’s Construction Economists
Vermeulens.com
B o s t o n w T o r o n t o w D a l l a s w D e n v e r w L o s A n g e l e s
Thank You
Since 1972
®