EXPLOREMY LIBRARY
Business & Finance
Fortune

Fortune July 1, 2018

FORTUNE covers the entire field of business, including specific companies and business trends, tech innovation prominent business leaders, and new ideas shaping the global marketplace. FORTUNE is particularly well known for its exceptionally reliable annual rankings of companies. FORTUNE furthers understanding of the economy, provides implementable business strategy, and gives you the practical knowledge you need to maximize your own success. Fortune currently publishes 3 double issues. Each count as two of 12 issues in an annual subscription.

Country:
United States
Language:
English
Publisher:
Meredith Corporation
Frequency:
Monthly
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12 Issues

in this issue

3 min.
springtime for a.i.

ON FEB. 24, 1956, ARTHUR LEE SAMUEL played a game of checkers on television. His opponent: a 36-bit vacuum tube computer made by International Business Machines. Samuel, then a 55-year-old researcher at IBM, had painstakingly assigned each of the 64 squares on the checkerboard a different set of machine-word identifiers, and done the same with each piece on each square. Then he programmed his IBM 701 computer to think: that is, to consider a few possible checkers moves “by evaluating the resulting board positions much as a human player might do,” Samuel would later write. “‘Looking ahead’ is prepared for by computing all possible next moves, starting with a given board position,” he explained. For each of those potential moves, the computer would redraw the board in its electronic brain with “the…

3 min.
america: who’ll keep on truckin’?

TRANSPORTATION THE TRUCKING INDUSTRY, the backbone of the U.S. economy, is carrying more weight than ever despite a critical shortage of drivers. And now this compression point is sending waves of pain through the supply chain from distributors and wholesalers to retailers and consumers in the form of fast-rising shipping costs. Even Amazon and its Prime members are feeling the pinch. This predicament was a long time coming. An aging driver population that continues to dwindle owing to retirement—combined with a lack of younger workers coming into the industry—is a problem that has been festering for 15 years. The Great Recession and the years of recovery that followed largely masked the problem. But by 2012, with the U.S. economy strengthening, fissures began to show. Trucks moved more than 70% of all U.S. freight…

1 min.
hauling cash

AUTONOMOUS TRUCKING has the potential to be a lucrative business, so it has naturally attracted big money and a number of players. Waymo (1), an Alphabet company, has integrated its self-driving system into Class 8 big-rig trucks and is testing them in California and Arizona. Uber (2) is also developing self-driving trucks but has temporarily suspended testing on public roads following a fatal accident involving its passenger car program. Other startups in the race include Starsky Robotics, Embark, Peloton, TuSimple, electric trucking company Nikola (3), and even Tesla. Established players like Volvo and Daimler, meanwhile, have been diligently working on increasingly advanced levels of automation in their trucks. COURTESY OF WAYMO, UBER, & NIKOLA…

1 min.
analytics

GALLUP 2018 GLOBAL LAW AND ORDER INDEX SINGAPORE MAY HAVE BEEN the perfect place for a summit to ease rising nuclear tensions. Based on a Gallup poll measuring how safe citizens feel and how confident they are in law enforcement, the city-state is the most secure nation among 142 countries surveyed. Venezuela finished dead last with just 24% of its citizens having faith in the police. The U.S. scored worse than 31 other countries, including Slovenia and India. (To read how global security affects your portfolio, see “Where to Hide From the Headlines” in this issue.) NEVER UNPLUGGED It’s hard to imagine that anyone once predicted the death of the Internet. The changing nature of work and increasingly capable smartphones mean consumers today spend an ever-growing share of their waking hours online: about…

1 min.
red staters see green in hemp

FARMING ONCE GROWN ON the estates of Washington and Jefferson—and used in everything from textiles to food—hemp is as American as they come. And yet according to a recent report for Congress, the United States imported $78 million more of the green stuff than it exported in 2015. It’s the sort of trade imbalance some might call “Sad!” The reasons for the hemp deficit, however, have nothing to do with the policies of China and Canada, which are the two biggest suppliers to the U.S. Instead, the problem lies with increasingly outdated domestic drug laws. Hemp is derived from the same plant as marijuana (Cannabis sativa) but uses strains low in the psychoactive compound THC. Still, the association was enough to get the crop regulated under the Controlled Substances Act, passed in…

1 min.
king-size contract?

NO ATHLETE’S career draws quite as much attention as that of the NBA’s biggest star, LeBron James. The Cleveland Cavaliers forward can opt out of his current contract for the 2018–19 season, making him a free agent once again. If he re-signs with Cleveland, which has surrounded him with a supporting cast of questionable quality, he could earn a record $205 million over five years. James is VP of the NBA players’ union and has advocated for higher pay. So unlike with his move to the Miami Heat in 2010, don’t expect him to take a pay cut this time around.…