Given the approaching pseudo-millennium and having time on my hands in a quiet market, I have taken to musing on fun facts for financing folk. For example, I have been told (by a biased Italian colleague) that the first bank in the world was Monte dei Paschi, which was established in 1472. No-one can tell me, however, which came first: the banker or the treasurer? I will personally buy a bottle of (cheap) champagne for the first reader who can supply the name of the first treasurer in the world. Still on the fun side, we are including a crossword to while away the hours over the Christmas/New Year break. On page 54, another bottle of (less cheap) champagne is on offer for readers who forecast the year-end rates for sterling vs. dollar and vs. euro. Finally, our anonymous cartoonist is back with his cold eye. On a more serious note, in response to popular demand, we are once again featuring a year-end review of transactions – the ‘Deals of the Year’ – focusing not on size but on relevancy and interest to our readership. In addition we are including economic forecasts (your chance to see who got it right last year!), our forecasts for bonds, loans and equities, and a review of important tax developments that are likely to have an impact on your company over the next few years. In addition, we have not forgotten our technical responsibilities and there are articles on leasing, distributable reserves and another contribution to our ongoing pensions debate. As we approach the end of the millennium, I thought you might enjoy some humour from the computer trenches. Just one joke, I promise: A doctor, an architect and a programmer were arguing about whose was the oldest profession. “When God took one of Adam’s ribs and created Eve,” said the doctor, “that was an act of surgery, so mine is the oldest profession.” “When God created the World from the chaos, “ said the architect, “that was an act of building, so mine is the oldest profession.” “Who do you think created the chaos?” asked the programmer.” Our best wishes to you all for a happy holiday and a non-chaotic New Year. JANINE PEAKE
