2009 is nearly over ... but is it time to celebrate?

• Author: Heffes, Ellen M.
• Position: Editorial

Much as I hate to see time fly so quickly, this year, it's almost a relief to say, "Good riddance!" It's time to start anew. Put this dismal roller coaster of a year behind us. But that begs the question: What lies ahead?

From all accounts, we're still grappling with uncertain financial markets, a depressed dollar, extremely high unemployment, a disappointing housing and mortgage rebound, financial regulation, potential legislation for health care and cap-and-trade and changes to accounting standards. It looks like 2010 could go either way. Many experts and surveys predict the recovery, which is said to be under way, will be felt by mid-year. Stay tuned.

Often, a look back is a valuable exercise. I know for me, spending time browsing through old issues of Financial Executive--to prepare the pages in honor of the magazine's 75th anniversary--provided some key insights into the thinking of financial executives through the years. Among those: Everything old is indeed new again (read: finance executives are still dealing with similar issues). However, the 21st century issues seem so much more complex and intense.

Also, the thinking that those who don't study history are bound to repeat it certainly rings true as the economy fights back from so many blows this past year and-a-half. Federal Reserve Chairman Ben Bernanke, a student of the Great Depression of 1929, has been using his extensive knowledge to ensure that piece of history doesn't repeat itself. Hopefully, he'll succeed. I know we're all rooting for him--and us!

It occurred to me that years from now, when some other editor is researching past issues to commemorate another milestone for the magazine, they'll be fully aware of the tough economic times of this decade just by reading the titles of the articles.

For instance, in this, our final issue of the year, Greg Autry and Peter Navarro, in our cover story...