December 6, 2010 Vol. 162 No. 9 / Fortune Asia / The 2010 BUSINESS PERSON of the
YEAR

46 BRAND-NEW GUMSHOE
Jules Kroll invented the modern corporate investigations industry. Now his son
Jeremy wants to bring it into the 21st century.
BY DUFF MCDONALD

50 BUSINESSPERSON OF THE YEAR
REED HASTINGS: LEADER OF THE PACK
The secret to the Netflix CEO's success? He never stops looking over his shoulder
BY MICHAEL V. COPELAND

60 THE LIST: 2010'S TOP PEOPLE IN BUSINESS
What does it take to be at the top in business in these times? The ability to
create opportunities out of turmoil.
BY PETER NEWCOMB

76 CHANOS VS. CHINA
The influential short-seller is betting that China's economy is about to implode
in a spectacular real estate bust. A lot of people are hoping that Chanos is wrong.
BY BILL POWELL

12 | EDITOR'S DESK

14 | LETTERS

86 | BING!

FIRST

15 | BY THE NUMBERS
Holiday hope?
BY DANIEL ROBERTS

16 | CLOSER LOOK
Narco-terror and U.S. business.
BY SCOTT CENDROWSKI

18 | THE CHARTIST
All about gift cards.
BY JESSICA SHAMBORA

20 | BRAINSTORM
How seven executives, from Jeff Immelt to Ursula Burns to Chad Holliday, hope
to work with the feds to create a green economy.
BY BRIAN DUMAINE

22 | EDUCATION
School reform: One size can't teach all.
BY DAVID A. KAPLAN

25 | PURSUITS
Fortune's 2010 gift guide: What the bosses are giving.
BY KATE FLAIM

TECH

31 | THE FUTURE IS NOW
Building a better golf club.
BY JESSICA SHAMBORA

32 | TECH STAR
Frog Design's Jan Chipchase: Technology's roving R&D man.
BY JESSI HEMPEL

34 | VALLEY TALK
Kleiner Perkins gets its digital groove back on.
BY ADAM LASHINSKY

INVEST

39 | SHOPPING FOR TECH
Big companies have started spending money on information technology again. Who
will be the big winners in the new replacement cycle?
BY JOHN CURRAN

42 | ANATOMY OF A TRADE
David Winters is still sweet on Nestlﾃｩ's stock.
BY SCOTT MEDINTZ

Opinion

44 | Is the bipartisan debt-reduction commission for real? Here are four easy
ways to find out.
BY GEOFF COLVIN

45 | The U.S. isn't falling behind. The rest of the world is just catching up.
Get over it.
BY MICHAEL ELLIOTT

+ FORTUNE.COM

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ON THE COVER

Photograph by Gregg Segal

[IMAGES]

SEVEN PHOTOS

TWO ILLUSTRATIONS