This month’s magazine has a strong theme of ‘risk’ – perhaps appropriate for an issue that has been produced so close to the end of the millennium (or the end of the world, depending on who you choose to believe). Our Spotlight topic is risk management, and we have been fortunate in gathering an impressive array of authors to share their knowledge and thoughts with us. Our eminent new columnist Oceanus continues our theme with an appeal for regulators and the government to nurture our risk-takers, and to be true to their ideals of promoting the enterprise culture. Jeremy Wagener, a former director general of the Association, has kindly taken the time to produce a stimulating discussion paper on the treasurer’s role in risk management for our ‘Forum’ pages. It would be interesting to hear the views of our readers over the coming editions, so do please respond if you have a view on this subject. We are always glad to print letters, or articles, in response to items already published. Readers with an eye on financing will be interested in the perspectives provided by those at the sharp end of three very different deals which were carried out recently. Gerry Bacon looks into the Vodafone AirTouch merger, Paul Richardson examines Reed Elsevier’s extendible commercial notes and Gerald Lawlor and Neil Parkinson of Esat Telecom Group in Ireland take us through their financing. I am particularly pleased to see the first of two articles by Jeremy Dean on leasing. Some treasurers have vast experience of leasing, while others have none at all. It simply depends on the nature and structure of a company’s business. Jeremy’s piece is helpfully based on the assumption that the reader has little prior knowledge of the subject and I am sure it will be widely passed around. Although I know that our recent readers’ survey allowed everyone a chance to give feedback on the content and style of the magazine, we are still delighted to receive any comments on items we have published, or suggestions for future topics and authors. Don’t wait until the next survey falls out of your magazine – send us your ideas now! VALERIE HAWKES
