October 18, 2010 Vol. 162 No. 6 / Fortune Asia / the 50 MOST POWERFUL WOMEN issue

A power shift toward the board is leaving a leadership vacuum at many publicly traded companies. Here, a new governance model.
BY RAM CHARAN AND GEOFF COLVIN

61 TURKISH TAFFY RETURNS
Just in time for the baby boomers' second childhood, the Bonomo candy bar is back on store shelves.
BY SCOTT CENDROWSKI

66 50 MOST POWERFUL WOMEN
OPRAH'S NEXT ACT
The queen of all media is risking everything to launch a TV network. Will Oprah's biggest gamble pay off?
BY PATRICIA SELLERS

74 THE 2010 LIST
BY JESSICA SHAMBORA AND BETH KOWITT

PLUS: The highest-paid women in business, and the most powerful women in Washington.

80 FACEBOOK'S FRIEND IN RUSSIA

DST's Yuri Milner makes big bets on social networking companies and brings new clout窶蚤long with a mysterious oligarch backer窶杯o Silicon Valley.
BY JESSI HEMPEL

10 | LETTERS

92 | BING!

FIRST

12 | BY THE NUMBERS
Digging for jobs.
BY SCOTT CENDROWSKI

16 | CLOSER LOOK
VW's grand plan.
BY ALEX TAYLOR III

18 | ENTERPRISE
China's best new cities for business.
BY SCOTT OLSTER

21 | THE BRIEFING
From B-school to begging, how to smell like an ironman, and more.

22 | THE CHARTIST
Louisville flies high.
BY ALEX KONRAD

24 | EDUCATION
Climate science under attack.

DAVID A. KAPLAN

TECH

26 | THE FUTURE IS NOW
The science behind Gorilla Glass, used for damage-resistant displays.

29 | TECH STAR
When Pacific Biosciences CEO Hugh Martin learned he had cancer, he did the unimaginable. He revealed everything.
BY MICHAEL V. COPELAND

INVEST

37 | THE $6 TRILLION OPPORTUNITY
The emerging-markets infrastructure boom is just getting started. Here's how to play it.
BY MINA KIMES

41 | ANALYST FACE-OFF
Shares of Gap have slumped by 14% over the past year. Can they recover?

INTERVIEWS BY SCOTT CENDROWSKI

Opinion

43 | Will prosperous pensioners be the target of the next populist storm?
BY NINA EASTON

44 | Politics! Infighting! Gridlock! Welcome to the newly democratic corporate boardroom.
BY BECKY QUICK

+FORTUNE.COM

Everything we know, the minute we know it.

ON THE COVER

Photograph by Brigitte Lacombe

[IMAGES]

SEVEN PHOTOS

TWO ILLUSTRATIONS

PHOTO ILLUSTRATION