EXPLOREMY LIBRARY
Business & Finance
Fortune

Fortune January 2019

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

2 min.
unfinished business

IN MARCH 1961, JOHN DAVENPORT, a venerable writer who for years sat on Fortune’s erstwhile “board of editors,” wrote a nearly 6,000-word feature for the magazine titled, “In the Midst of Plenty.” Its premise was straightforward: Although poverty in the U.S. had been eased substantially in the previous generations, there were still 32 million Americans living “below the line,” as Davenport put it. “To diminish poverty has always been the American business—the business of the individual, the corporation, private philanthropy, and, by changing means, the business of government,” he wrote. Such a mission was very much in the service of the nation’s ideals, and also of Fortune’s. This is the publication, after all, that dispatched writer James Agee and photographer Walker Evans to chronicle the hardscrabble life of sharecroppers in Alabama—the story…

5 min.
hot under the white collar

THE DECEMBER ARREST of Huawei chief financial officer Meng Wanzhou at an airport in Vancouver was shocking in its own right. Here was a top-ranking executive of a global technology company—and the daughter of the founding chairman, no less—being hauled off like a common criminal on nonspecific charges related to alleged violations of laws involving U.S. sanctions against doing business in Iran. More shocking still was that Meng, now out on bail pending a U.S. extradition request, was just one of many high-profile executives who lately found themselves incarcerated for various white-collar crimes around the world. Two weeks earlier, the Brazilian-born automotive titan Carlos Ghosn was arrested in Tokyo, also nabbed at an airport, accused of underreporting his income and thus evading taxes. [See “The Ghosn Show” in this issue.] Days…

1 min.
no longer ‘too big to jail’?

IT MAY BE TOO EARLY to call it a trend, but It does appear to be less safe these days to be a C-suite jet-setter suspected of a serious crime. A few recent, startling arrests of corporate executives for white-collar crimes have highlighted the willingness of prosecutors, in the U.S. and abroad, to seek criminal accountability for corporate misconduct. YANG WEIDONG President Alibaba’s Youku Formerly the head of Alibaba’s music-streaming affiliate and a onetime Nokia executive, Yang was arrested in China for “alleged acceptance of illegal payments.” Little else is known about his situation. OLIVER SCHMIDT General Manager Volkswagen A German citizen, he worked in Michigan for Volkswagen. Schmidt pleaded guilty in 2017 to violating the Clean Air Act in the course of his company’s emissions-fraud scandal. He is serving a seven-year prison term. MENG WANZHOU Chief financial…

2 min.
on macron vs. the gilets jaunes

AMID THE ERUPTION of indignation and violent demonstrations in this months-old Gilets Jaunes (yellow vests) movement, few in France are surprised by the rejection of President Emmanuel Macron’s intellectualized method of governing and the wider French establishment. In the 18 months since he took office, Macron has gone from being hailed as the French Obama (establishing a host of unmanageable expectations) to being vilified as a modern Louis XVI, accused of aligning his interests squarely with big business and blaming the misfortunes of the “for gotten” middle class on its lack of gumption. Macron’s efforts to woo companies to Paris, a rising startup hub, and demonstrate his progressive values, particularly on the environment, have made him political eye candy on an international stage—a foil to the populist politics of Trump, Putin,…

1 min.
amazon’s housing boom

ADD RESIDENTIAL real estate to the list of markets that Amazon has disrupted—not that realtors are complaining. The company’s November announcement that it will be splitting its vaunted “HQ2” project between Long Island City, N.Y., and the Crystal City district in Arlington, Va., has already significantly ramped up activity in their housing markets. In November, there were 32 contracts signed for condo units in Long Island City—up from 13 in the same period in 2017, per brokerage Stribling & Associates. Arlington, meanwhile, saw a 158% year-on-year increase in new contracts signed in November—to 178 from only 69 in 2017, according to brokerage TTR Sotheby’s International Realty. +146%CONDO SALES IN LONG ISLAND CITY, QUEENS, N.Y.+158%RESIDENTIAL SALES IN ARLINGTON, VA.…

1 min.
you’re the chief of what now?

WE’VE SEEN SOME creative additions to the C-suite in the past decade. Chief storyteller, chief evangelist, chief flavor officer (at beverage maker Bai Brands). They are easy to make fun of, but they do serve a purpose: reflecting what the company finds important to both employees and shareholders. (For instance, Apple’s only “chief” title outside of CEO, COO, and CFO is chief design officer, imparting the importance of design, and Jony Ive himself, within the organization.) Analyzinging millions of job postings, executive search firm Ladders found that hyperspecific C-level titles are on the increase, such as chief digestive health officer at Georgia’s WellStar Health System and chief workout officer at Santander. (This doesn’t involve putting bankers on a treadmill; it’s a subset of risk management.) Also trending: words like “equity,”…