The Thirty-Fourth Annual Conference of the Association of Private Enterprise Education (APEE) was held at Universidad Francisco Marroquín in Guatemala. At the opening reception, UFM President Giancarlo Ibargüen and APEE President Gerald P. Dwyer welcomed the participants. Roberto Salinas León, APEE vice president, explained the theme of this year's three-day conference. During the evening two APEE awards were also presented. The 2009 Herman W. Lay Memorial Award was presented to Jeff Sandefer. Sandefer is one of the founders of the renowned Acton MBA in Entrepreneurship program. The 2009 Adam Smith Award was presented to José Piñera, president of the International Center for Pension Reform and distinguished senior fellow of the CATO Institute.