The main feature of this edition is Deals of the Year, starting on page 39. This is a process which started in August. We asked members of the Association and other readers of The Treasurer to nominate their favourite deals completed in the period from 1 October 1999 to 30 September this year. A panel made up of members of the Association then selected its favourite deals, from which the best eight were chosen. These represent the deals that treasurers feel were the best during the year – they are not the banks’ choice, although many of them, I am sure, would be on their list of favourites too! My thanks to Ulrica Marshall for her hard work in writing up the section. We also have our regular forecasts and previews section, beginning with The Treasurer’s Six Wise Men. I have avoided the temptation to include an analysis of last year’s predictions, but readers are welcome to dig out their old copies of the December 1999 edition and check for themselves! The Treasury Practice section contains the usual mixture of practical and technical write-ups. Of particular interest this month is the article by Peter Knight covering the cash management survey undertaken by the Association in conjunction with J.P. Morgan during the summer. In the IT & E-commerce section, Chris Cook examines what the web revolution will do for business, while Mike Whitaker looks at what application service providers (ASPs) will offer treasurers. Anne Querée has also interviewed some of the key players in Atriax on our behalf. The international section is curtailed this month, but we include our regular December round-up of tax developments in Europe by Jan Kooi at Omnicom. One of the CPD questions asked (page 67) should have been: what are the Visegrad countries? The answer is on page 71, where Raymond Beimers and Harm Schonk look at their economies. For further intellectual stimulation, readers should try the crossword. No prizes, I’m afraid, but the answers will be in next month’s issue, or are available on the website, at www.treasurers.org/thetreasurer/edit.html. Finally, I want to wish a very merry Christmas to all our members and subscribers, as well as the large number of readers who beg, borrow and sometimes, it is alleged, steal their copies. I would in particular like to thank the members of the editorial committee, the dedicated team in the Association secretariat, the team at Silverdart and our regular freelancers for all their hard work over the past year in getting together articles and features of such exceptional quality. Our task is not always easy – we rely heavily on outside contributors who have their own jobs and deadlines to deal with. I am only slightly sorry for all the hassling we have to do to get the editorial in and the magazine out on time, but I hope you understand… MIKE HENIGAN
