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November 2020

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.

United States
Meredith Corporation
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change for the better

IT IS HARD to change any institution—particularly one as revered as Fortune’s annual ranking of the Most Powerful Women in Business. But in 2020, a year unlike any other, our MPW team concluded that our venerable list would benefit from a crucial tweak. It needed a measure of influence and power that went beyond the company P&L—a sense that the women on this prestigious roster aren’t just great business executives, but also leaders who have used their power and influence to shape their companies “and the wider world for the better,” as Fortune’s Kristen Bellstrom and Beth Kowitt write in their introduction to this year’s package (please see page 65). To be sure, business prowess still takes a front seat, as it has for the previous 22 years we’ve published our…

carol tomé

THIS EDITED Q&A HAS BEEN CONDENSED FOR SPACE AND CLARITY “In the second quarter alone, we had to hire 40,000 people just to get the packages delivered.” FROM CFO TO THE BIG SHOW After 24 years at Home Depot, you walked into a new job in the middle of a crisis. How has UPS been impacted by COVID-19? TOMÉ: So, unlike a lot of companies, the majority of UPSers get up every day and go to work. You know, they put on their uniform, right? They can’t work remotely. You can imagine what we had to go through—just imagine hundreds of thousands of package cars, having to make sure that they’re clean. We’ve adapted pretty well based on all the feedback I get. We have had unprecedented demand come our way. 1 In the…

plastic surgery sees a ‘zoom boom’

EYE BAGS. DOUBLE CHINS. That inexplicable crease between your brows. If you are like many Americans who have spent hundreds of hours in videoconferences these past few months, your colleagues’ brilliant business ideas aren’t the only things that have captured your attention during meetings. Marie Hayag, a dermatologist and founder of Fifth Avenue Aesthetics on New York City’s Upper East Side, underscores what she calls “the Zoom effect,” explaining she has heard a lot of complaints from new and returning patients about imperfections that were newly noticed while videoconferencing. Among the most requested treatments right now: neuromodulars (such as Botox) targeting fine lines and wrinkles, platelet-rich plasma (PRP) therapy for stress-related hair loss, treatment for “maskne,” and body sculpting. “More patients are working from home and can receive procedures that require…

cheap but chic(er)

DOLLAR GENERAL is taking a new tack to win shoppers: Go after those with more dollars to spend. The discount retailer (No. 112 on the Fortune 500) is launching Popshelf, a chain that caters to a higher echelon of shopper. Two locations will open near Nashville in late fall, followed by 28 more by the end of January 2022. The idea behind the chain: Offer colorfully merchandised nonessential goods like home decor and party items, while catering to a clientele that might balk at shopping at a Dollar General, the fast-growing deep discount chain that now has 16,300 stores across the U.S. The company says Popshelf will target households with incomes as high as $125,000, well above the $50,000 mark that is typical of the Dollar General customer. That’s not to say Dollar…

stocks for a ballot-proof portfolio

AN UNPRECEDENTED pandemic couldn’t keep global stock markets down. But some investors fear that an unprecedented election might lead to even rockier times. Some of those jitters, of course, just represent the usual election-season hand-wringing over the potential impact of the candidates’ stances on issues like health care, tech regulation, taxes, and trade. But this year, worries about Election Day itself are adding edge to the traditional angst. The disruptive effects of COVID-19 have prompted millions of Americans to vote by mail, which could both delay the announcement of a winner and give the apparent loser ammunition to contest the results. Markets hate uncertainty, and some traders are already showing how uncertain they feel: Prices have surged for November- and December-dated futures and options related to Treasury securities, gold, and the…

a carbon conundrum

ON SEPT. 22, Chinese President Xi Jinping made a bombshell environmental declaration to the United Nations General Assembly. China, the world’s largest producer of greenhouse gases, would begin reducing its overall emissions after peaking in 2030—and by 2060, Xi said, the nation would achieve carbon neutrality. Xi’s pledge broke through the pandemic-dominated news cycle, pitching China as a global leader in environmental responsibility. But it didn’t affect the goings-on at the Hohhot Jinshan power station. There, on the fringes of the Gobi Desert in Inner Mongolia, hundreds of workers are building two new power-generation units to supply more electricity to the 2 million–plus residents of Hohhot, the regional capital. The 5 billion yuan ($735 million) project, which broke ground May 31, will more than triple Hohhot Jinshan’s energy capacity to 1,920…