Hard Money, Rising Rates, Lower Profits
In uncertain times where even the Fed is taking unprecedented steps in efforts to jump-start the economy, finance executives need help. In this and two following stories, economists weigh in on credit risk, global inflation and profit potential.

Don't Count on Profits
Even if the economy does an about-face and returns to health, don't expect profit growth anytime soon.

Warning: Credit Risk is Spreading
With consumers now cutting back on purchases, causing pain throughout the economy, corporate bankruptcies are on the rise. Companies need to use hedging tools now more than ever.

Corporate Investment: A Real Flight to Safety
Treasurers and C-level executives have gone from greedy for yield to cautious about liquidity, and in the last six months have shifted their cash and short-term investments to bank deposits, money market mutual funds and treasury bills.

Crunch Time for Treasury Financing
Even companies that aren't forced to go to the markets (or their bankers) for new credit lines need to pay close attention to basic treasury management issues when markets are tough

Gold AHA Award Winner for Working Capital Management
EBAY INC.

Silver Award Winner for Working Capital Management
GATEWAY INC.

Bronze Award Winner for Working Capital Management
CABOT CORP.

EIPP Illuminated
Corporate resistance to EIPP is fading as CFOs recognize its value and vendors rise to the occasion. Now, companies can Receive up t0 95% of invoices electronically regardless of how they are delivered

Where Size Doesn't Matter
Midsize companies like Fellowes are seizing the initiative when it comes to building sophisticated treasury operations not typically seen at middle market companies. No longer willing to settle for low-tech solutions to meet global challenges, these middle-weight trendsetters are using cutting-edge products and services intended for much larger multinationals. And banking and software vendors, who once ignored them, are now more than ready to push the best technology into skilled midsize hands and let them run with it.

CFOs in the Glare
Whether or not you are at a high-profile company like Google or Eli Lilly, CFOs are under constant scrutiny from top management, the board, shareholders, analysts and regulators these days. CFOs are definitely being watched. But some admittedly deserve the attention more than others. This year's choice of Google's George Reyes and Eli Lilly's Derica Rice is based not only on their financial acumen and innovation, but also for the mettle they have shown dealing with growth, crisis and the corporate version of celebrity.

The 2006 Alexander Hamilton Overall Excellence Award
In a matter of a few short years, Toyota Financial Services (TFS), this year's recipient of the Alexander Hamilton Award for Overall Excellence, has moved to the top ranks of financial management excellence.

Approaching Nirvana
A convergence of improved technology and vendor alliances is putting the prospect of a single view of all corporate cash and risk within reach