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Time for reflection
Depending on the length of your Christmas break it's either a happy Christmas or happy New Year from me, but either way may I wish you and your business every success in 2005. Before we look ahead though, it's worth reminding ourselves just what the region has achieved on a business front over the last 12 months - and there's plenty to cheer.
Take transport. Yes, still a bête noire in many respects for the region, but things are moving in the right direction. Despite an army of sceptics the M6 Toll has been a resounding success. The redevelopment of New Street Station looks more likely than it has done for years after a £3100m pledge towards the cost from Advantage West Midlands. Passenger numbers at our main airports continue to soar (even if a name change to Nottingham East Midlands Airport proved rather more controversial) and Nottingham got a fantastic tram system.
Take technology. Warwick Science Park, under the guiding influence of David Rowe, toasted a remarkable 20 years of success. A success that has transformed the economic landscape of the Coventry and Warwickshire region and one that makes the gloom surrounding job losses at Jaguar's Browns Lane plant far easier to bear.
And take some fantastic companies. The likes of Pendragon, Experian, Enterprise Inns, Wilson Bowden or Goldsmiths are now powerhouses in the region on the back of major corporate activity in 2004.
But yes, some massive issues remain, such as the flow of jobs and investment to the South East. On the same theme the government is also trying to move thousands of civil servants out of the South East following the landmark Lyons report, but time will tell whether Sir Michael's excellent study will be seized upon.
And then there's the world stage. The expansion of the EU poses as many challenges as opportunities for the region, while the march of the Far East is undoubtedly the biggest single threat to this region today.
Which brings us to our cover story this month and the plight of MG Rover, a plight that somehow offers us a microcosm of the whole debate. Rover has been trying to break into the Chinese market for three years and after its failed deal with China Brilliance its track record in China isn't pretty. For the good of this region, everyone must hope that its new partnership with Shanghai Automotive Industry Corporation really does ensure the long-term survival of Longbridge. One thing is for sure: 2005 really is make or break year for MG.

Jim Pendrill, editor

Already one of the most successful leisure operators in the UK, Center Parcs, under the leadership of chief executive Martin Dalby, is looking to expand into the spa market and Insider tracked down Dalby for an exclusive interview in our February issue. Also featured are 3G technology, a focus on where the city of Nottingham his headed and a look at the Midlands’ most important deals in 2004.

Insider’s unique annual ranking of the 100 fastest growing companies in the Midlands throws up its usual recipe of fascinating businesses and tales of growth. And, with times changing at the East Midlands Development Agency, we interview chief executives past and present. Plus asset-based finance, the latest on Birmingham’s Masshouse and Insider’s Property Breakfast.

Mapping a route. The low down on New Street

After more than 80 years as a membership organisation, Interflora officially became incorporated as a company in February this year. The path was long and arduous, with all 1,850 Interflora members being consulted throughout the process.

Has business only got itself to blame for the pensions crisis? I've been moved to ask the question following a fascinating and frankly rather worrying round table discussion I chaired on the subject for this months magazine (which you can read on page 27).

Jim Pendrill, editor

The relationship between London and the Midlands comes up time and again on my travels.

As I remarked only a couple of months back, business all too often only has itself to blame for government meddling. It doesn't shout loud or hard enough - or act with one voice - when it needs to. Then I was referring to pensions, now I'm talking about over-regulation.

As I write, the annual charade of A-level results is about to be played out as our fantastic students (whatever you do don't call them pupils) show that they are even cleaverer than last year's batch of 18-year olds, who of course were even more brainy than those the year before, and so on...

Here's to Harry

The death of corporate financier Harry Jeavons-Fellows at the tragically young age of 39 (see our obituary on page 7) has left a huge vacuum in Birmingham's financial
community.
It goes without saying that the loss is greatest to his family and friends, but the loss to the wider Midlands business world cannot be underestimated either.
I regarded Harry from Aberdeen Murray Johnstone as a member of this region's inner circle of financiers, a member of a privileged club of deal-doers and business leaders who behind the scenes a) had unprecedented knowledge of the market and b) ensured that deals got done and shared about in the Midlands.
What made Harry particularly stand out, besides his terrific joie de vivre, was that he was prepared to speak his mind too to get things done, prepared to be controversial, prepared to be blunt. It wasn't everyone's cup of tea, but it always came with one thing in mind - the overall well-being and success of Birmingham's corporate finance community.
He even helped me run our most controversial story in this magazine, namely our investigation into the problems Aberdeen encountered following its investment in convenience store group Conveco. Why was he prepared to air his dirty washing? Because there were lessons to be learnt for all corporate financiers, that's why.
It is a sad irony that one of our last conversations was about the continued decline in deal activity in the West Midlands in recent years, particularly on the private equity side. It was a decline that Harry and others were doing their best to arrest but wrestled with daily.
Indeed, the difficulties of putting a deal together in today's climate are amply evidenced in this issue's Dealmakers review as factors such as the retail slowdown, pension difficulties and rising oil costs all play their part. More local factors such as the closure of 3i's office in Birmingham don't help either.
Another worrying trend, picked up by our top lawyer this year Jim Lavery of DLA in our Dealmakers Forum on page 59, is the lack of trust in the market. As Jim notes:
"No one trusts 100 per cent the relationships they have anymorex85 I do not think we trust people today in our own community as much as we did in the 90s and the whole community suffers as a result. We are not prepared to be as honest with each other."
As Jim continues, you can only be honest when you have a really strong relationship. Every corporate financier in this region owes it to the memory of Harry to ensure that those strong relationships remain.
Jim Pendrill, editor

We look at why women are still failing to break into the boardroom while unearthing some alarming statistics that show that a lack of access to finance could be partly to blame. PLUS an in-depth assessment of Nanjing's purchase of MG Rover and whether car production will ever return to Longbridge.

Birmingham faces a multitude of challenges to become a truly global city. Insider maps out its own agenda for action for the city to achieve its goals. Also, read our exclusive listing of the 100 richest individuals in the Midlands, plus our 24-page review of this year's Insider West Midlands Property Awards.