Table of Contents:VOL. 160, NO. 10 - December 07, 2009

Top Companies for Leaders
Building great leaders
To help prepare promising leaders for the future, top companies are forcing
their employees to take on new (global) risks. By Geoff Colvin


The global list
The world’s best businesses know that developing talent is their top priority.
Here are 25 that are doing it right. By Beth Kowitt and Kim Thai


How Procter & Gamble picked a new CEO
Secret meetings. A binder full of top talent. Behind the scenes at P&G, where A.G. Lafley and prot馮・Bob McDonald are navigating the sweet science of succession. By Jennifer Reingold


Features
The king of natural gas
John Arnold has made billions as an energy-trading phenom. But the rules of
his game are about to change. By Telis Demos


Best Buy wants your junk
The company’s massive recycling program seems expensive to run, until you
look at all the benefits. A Fortune 500 Series feature. By Marc Gunther

The future of water
As the world’s population grows, freshwater resources are getting increasingly
scarce. That’s driving a global boom in the business of desalination.
By Beth Kowitt


First
Free Dennis Kozlowski?
Tyco’s former CEO is serving up to 25 years for his sins. But in the age of
Wall Street chicanery, it may be time to rethink who’s really a criminal.
By David A. Kaplan


Dump the dollar! Buy gold!
Master trader Chris Pia explains the market. By Shawn Tully The deal

Turkeys of the year. By Allan Sloan

Enron takes the stage
A British hit based on the 2001 scandal is set to come to Broadway
this spring. By Beth Kowitt

The big financial pay pie
The basic issue is profits, not bonuses. By Carol J. Loomis and Doris
Burke

Education
The standardized-test smackdown. By David A. Kaplan

Report from Europe
A deal on climate change? Not exactly. By Peter Gumbel


Technology
The billionaire Buddhist who invented the netbook
A few years ago, rivals mocked Asustek’s Jonney Shih and his purse-size laptops.
Shih is having the last laugh. By Michael V. Copeland


Life at the top
Holiday gift guide
Take the stress out of holiday shopping with our picks for everyone on your
list. By Kate Flaim and Chloe Lieske

Book review
Fan of letters. By Daniel Okrent
Scandal


Bunky Hearst’s trust issues
When the marriage of William Randolph Hearst’s grandson hit the skids, the
ensuing legal battle threatened to reveal secrets of the family’s media empire.
By Mark Fass

Bing!

Investing
The Yacktman fund rules
Racking up big returns, the celebrated value portfolio shows how patience and a contrarian bent can pay off. By Mina Kimes

Updating Buffett’s bet
The hedge funds take an early lead as they lose less than the S&P 500 in a
bad market. But there are nine years to go. By Carol J. Loomis